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Obama Wants To Curb Risk, But What Kind Of RishPresident Obama wants to curb the habit of risk taking at banks or, perhaps, eliminate much of it completely. One Administration official told Reuters, “The proposal will include size and complexity limits specifically on proprietary trading and the White House will work closely with the House and Senate to work this into legislation.” As time passes [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 3:39 am TomTom slides on free Nokia navigation planShares of Dutch navigation device maker TomTom fall as much as 11% after Nokia says it will provide free navigation on its higher-end mobile phones.
Source: MarketWatch.com - Top Stories | 21 Jan 2010 | 3:34 am Court tells Sky to cut ITV stakeThe pay-TV group BSkyB loses an appeal to keep its 17.9% stake in ITV and has been ordered to reduce it to below 7.5%.Source: BBC News | Business | World Edition | 21 Jan 2010 | 3:31 am GM Europe to close Belgian Opel plant: union (AFP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 3:25 am Lower open seen for stocksU.S. stocks were set to open lower Thursday, as investors continued to worry about China and awaited results from Wall Street giant Goldman Sachs.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 3:24 am Is The Kindle The Apple Tablet Or Visa Versa?The Apple (NASDAQ:AAPL) tablet computer is going to have an 10″ or 11″ screen, a touchpad key board, the ability to connect to WiFi or 3G networks to reach the internet. It is supposed to have relationships with media companies to offer tablet users subscriptions to books, newspapers, and TV shows. The New York Times report [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 3:19 am China economy sees strong growthChina's economy grew by 8.7% in 2009, setting it on course to become the world's second-largest, behind that of the US.Source: BBC News | Business | World Edition | 21 Jan 2010 | 3:19 am Chevron raises refinery jobs fearWorkers at Chevron's Pembrokeshire oil refinery fear job losses with the firm's 'global restructure' plans.Source: BBC News | Business | World Edition | 21 Jan 2010 | 3:17 am Mortgage lending rises 14% in DecemberMortgage lending rose in December compared with the previous month, as buyers tried to beat the rise in stamp duty on January 1, but overall, home loans for last year were at their lowest level for ten years and down 43 per cent on 2008. Source: Latest Business News from Times Online | 21 Jan 2010 | 3:08 am China plays down row with GoogleChina's says its dispute with Google over online censorship should not be linked to Beijing's relations with Washington.Source: BBC News | Business | World Edition | 21 Jan 2010 | 3:06 am Darling under pressure as public borrowing hits highPublic sector borrowing in Britain has hit another record high, new figures revealed this morning, putting futher pressure on Alistair Darling to set out plans in the final Budget before the general election to reduce the country's debt mountain. Source: Latest Business News from Times Online | 21 Jan 2010 | 3:01 am Goldman Sachs results due after banks disappoint (AFP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 3:00 am The Octogenarian WorkforcePulte Homes, the largest builder of new homes in the US, recently released a survey that says among people over 50 asked about retirement plans, 41% said they will never be financially able to do so. Many of the people who can retire believe that they will have to put it off to buy time [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 2:59 am Home loans 'surprisingly strong'Mortgage lending rises in December but the figures come as a building society announces a sharp rise in rates.Source: BBC News | Business | World Edition | 21 Jan 2010 | 2:58 am London Markets: Enterprise Inns update boosts U.K. pub operatorsBritain's FTSE 100 rises as pub operators make gains on Thursday, with Enterprise Inns soaring after the firm highlights an improved trading trend.
Source: MarketWatch.com - Top Stories | 21 Jan 2010 | 2:52 am BSkyB ordered to cut stake in ITVBSkyB has been ordered to substantially reduce its stake in rival ITV by the Court of Appeal.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 2:49 am Shandong Luoxin Pharmacy Stock Co., Ltd. Joins OTCQXSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 2:47 am Mini Cooper SUV: First lookCountryman will be Mini's biggest model while retaining the brand's personality.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 2:45 am Longtop Financial Technologies Limited to Release Financial Results on February 10, 2010, for its Third Fiscal Quarter Ended December 31, 2009Source: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 2:44 am Equities shrug off fears over China’s potential tighteningGlobal Markets Overview: FTSE World equity index inches higher after the previous session’s 1.6% tumble, while currency moves are moderate, even though China’s economy grew faster than expected in DecemberSource: Financial Times - US homepage | 21 Jan 2010 | 2:37 am Tech stocks for the next 10 yearsTechnology trends can be easy to spot -- iPod earbuds become ubiquitous, people casually use the term "Google" as a verb. But if the decade since the Internet bubble burst taught you anything, it's that tech investing is hard. The key is to find companies that can take advantage of massive shifts in the way consumers and businesses use technology.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 2:36 am Economic Report: Euro-zone surveys signals slower growthPrivate-sector output growth in the 16-nation euro zone slowed in January, according to a closely-watched measure of activity released Thursday.
Source: MarketWatch.com - Top Stories | 21 Jan 2010 | 2:36 am Taxi driverJapan still serves as a warning to Chinese aspirationsSource: BBC News | Business | World Edition | 21 Jan 2010 | 2:35 am Asian stocks lower after China data; Europe gains (AP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 2:34 am Asian stocks lower after China data; Europe gains (AP)
Source: Yahoo! News: Stock Markets News | 21 Jan 2010 | 2:34 am LSE revenue down 9% as competition hits volumesThe London Stock Exchange says that revenue in its fiscal third quarter fell 9% as competition in equity trading continues to hurt its market share and margins.
Source: MarketWatch.com - Top Stories | 21 Jan 2010 | 2:32 am AEGON Asset Management Appoints McPherson to European Equity TeamSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 2:30 am AEGON Asset Management Launches Unique Asset Allocation Service for Pension FundsSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 2:30 am Easyjet lifts its profit forecastThe budget carrier Easyjet is increasing its forecast for full-year profit after reporting strong revenues in the first quarter.Source: BBC News | Business | World Edition | 21 Jan 2010 | 2:20 am LSE revenue falls 12% as share trading slidesTrading on the London Stock Exchange (LSE) has plummeted, sending the group’s revenues tumbling by nearly 12 per cent to £154.9 million in the quarter to 31 December. Source: Latest Business News from Times Online | 21 Jan 2010 | 2:17 am Toyota not betting on an electric love affairAmerican drivers and electric cars just aren't ready for each other yet and it's best that they don't rush into things, Toyota's alternative fuel guru says.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 2:15 am China's economy expands 8.7% in 2009Chinese data show economic growth powered higher in the fourth quarter, putting the full-year figure above forecasts, while inflation surprises to the upside, suggesting recovery is continuing but fiscal and monetary policy may need to be tightened.
Source: MarketWatch.com - Top Stories | 21 Jan 2010 | 2:12 am China economy soars, sets stage for policy tighteningBEIJING (Reuters) - China easily beat its 2009 growth target after a blistering fourth quarter performance that set the stage for further monetary tightening and put it on course to overtake Japan to become the world's second-largest economy.Source: Reuters: Business News | 21 Jan 2010 | 2:09 am Who needs consumer spending?American consumers are unlikely to ride to the economy's rescue the way they did following the 2001 recession.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 2:08 am China growth worries weigh on emerging stocksLONDON (Reuters) - Developed and emerging equity markets diverged on Thursday with the latter falling on worries China will take more measures to temper growth after reporting its fastest quarterly growth in two years.Source: Reuters: Business News | 21 Jan 2010 | 2:08 am China growth worries weigh on emerging stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 21 Jan 2010 | 2:08 am United Utilities shares rise amid dividend cutShares in United Utilities jumped by 4 per cent today after the UK’s largest water company cut its full-year dividend by a lower-than-expected 12.5 per cent next year, as a result of tougher restrictions on returns introduced by Ofwat, the industry regulator. Source: Latest Business News from Times Online | 21 Jan 2010 | 2:07 am House OKs deductions for Haiti on '09 taxesThe House unanimously approved a measure Wednesday that will allow taxpayers to deduct cash donations to Haiti earthquake relief on their 2009 tax returns instead of having to wait to file the claims next year.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 2:01 am Jobs bill: The road just got rougherThe road for another stimulus bill just got tougher following Tuesday's election of Republican Scott Brown to the Senate in Democratic stronghold Massachusetts.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 2:01 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 21 Jan 2010 | 2:01 am China says Google case not linked to ties with US (AP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 1:59 am Oil near $78 in Asia on China's strong growth (AP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 1:57 am Media Digest (1/21/2009) Reuters, WSJ, NYTimes, FT, BloombergReuters: Hedge fund Loch Capital is losing customers because of ties to a witness in the Galleon case. Reuters: China GDP grew 10.7% in the fourth quarter. Reuters: Obama will target excessive financial risk taking. Reuters: AIG (NYSE:AIG) owes retention pay to many workers. Reuters: The Pentagon budget will probably kill 7 weapons programs. Reuters: Google (NASDAQ:GOOG) is expected to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 1:54 am Europe Markets: Europe stocks back on move as miners riseEuropean shares rose on Thursday, continuing a choppy week for trading, with miners recouping some sharp losses made in the previous session.
Source: MarketWatch.com - Top Stories | 21 Jan 2010 | 1:52 am UPDATE 1-Ripplewood to sell stake in Columbia Music*To sell holdings in Columbia, has disposed some U-Shin stakeSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 1:51 am China's challengeBeating Japan on quality, not just quantitySource: BBC News | Business | World Edition | 21 Jan 2010 | 1:42 am Obama gets voters' message: It's jobs, jobs, jobs (AP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 1:29 am Morrisons sees 'strong' ChristmasThe supermarket group Morrisons reports 'strong' Christmas trading, but says the market is 'challenging'.Source: BBC News | Business | World Edition | 21 Jan 2010 | 1:27 am London stocks rebound at open (AFP)
Source: Yahoo! News: Stock Markets News | 21 Jan 2010 | 1:21 am Asia Markets and Europe Open (1/21/2010)Markets in Asia were mixed. The Nikkei rose 1.2% to 19,868. The Hang Seng fell 1.6% to 20,895. The Shanghai Composite was up .2% to 3,169. At the open in Europe, the FTSE rose .6% to 5,453. The Dax was up .5% to 5,881. The CAC 40 rose .7% to 3,956. Data from Reuters and MarketWatch. Douglas A. McIntyre Posted in International [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 1:17 am UPDATE 1-Macquarie shortlisted for Prudential assets -sources* S. Korea units estimated to fetch below $500 mln -sourceSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 1:01 am China's growth accelerates to 10.7 percent in 4Q (AP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 1:01 am Stocks fall on tighter China lending, earnings letdownsGains by the dollar push down commodity prices. The Dow loses 122 points, well above its low for the day. The stock market posted its biggest...Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am 1.5 million strollers are recalledSource: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am Bank of America, Wells Fargo results bolstered by mortgage operationsAlthough the banking giants gain from originating home loans, their portfolios of existing mortgages are still generating a wave of defaults and losses.Some banks are finding ways to make money from mortgages despite the continuing difficulties many homeowners are having in making their home payments.
Source: L.A. Times - Business | 21 Jan 2010 | 1:00 am Bailout tax short on penalties, deterrentsIn almost every criminal case -- at least the ones that get ripped from the headlines and end up on "Law & Order" -- there's a point when the D.A. offers a plea bargain.Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am At Hulu, 'free' may soon turn into 'fee'The video website, launched by studios to distribute TV shows over the Internet without charge, now is considering ways to draw revenue, including charging for some episodes of popular shows.Hulu soared to popularity by offering free online viewing of popular TV shows. Now that free ride may soon end.
Source: L.A. Times - Business | 21 Jan 2010 | 1:00 am Bailout tax short on penalties, deterrentsIn almost every criminal case -- at least the ones that get ripped from the headlines and end up on "Law & Order" -- there's a point when the D.A. offers a plea bargain.
Source: L.A. Times - Business | 21 Jan 2010 | 1:00 am At Hulu, 'free' may soon turn into 'fee'The video website, launched by studios to distribute TV shows over the Internet without charge, now is considering ways to draw revenue, including charging for some episodes of popular shows. ...Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am Housing starts in U.S. down in DecemberThe seasonally adjusted annual rate of 557,000 is a 4% drop from the figure for November. But the number of permits increases about 11% to 653,000. ...Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am Boeing 747 marks a major milestoneThe first jumbo jet made its maiden commercial flight 40 years ago today. More than 1,400 of the planes with their signature hump have rolled off the Boeing assembly line.It was the kind of plane that seemed to fit the swinging go-go days with martini-swigging travelers lingering around a bar.
Source: L.A. Times - Business | 21 Jan 2010 | 1:00 am Neurosurgeons will put tech brain power to test at paperless meetingIPod Touches will be given to each of the 3,500 doctors at the May gathering, which one of the event organizers said would have used more than half a million paper pages for the programs alone. ...Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am World financial markets shudder as China starts to put brakes on its fast-growing economyChina, the primary engine leading the global economy out of recession, is starting to put the brakes on its fast-growing economy -- and the rest of the world is watching closely.Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am Bank of America, Wells Fargo results bolstered by mortgage operationsAlthough the banking giants gain from originating home loans, their portfolios of existing mortgages are still generating a wave of defaults and losses. ...Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am Amphastar Pharmaceuticals files new appeal in FDA conflict-of-interest caseThe drug maker is seeking to market a generic version of the blood thinner heparin. Its complaint shows the maneuvering that can break out when billions of dollars in profits are at stake.A new appeal in a conflict-of-interest controversy involving the Food and Drug Administration's handling of the deadly heparin contamination crisis of 2008 has shed more light on the convoluted and costly maneuvering that can break out when billions of dollars in profits are at stake.
Source: L.A. Times - Business | 21 Jan 2010 | 1:00 am Boeing 747 marks a major milestoneThe first jumbo jet made its maiden commercial flight 40 years ago today. More than 1,400 of the planes with their signature hump have rolled off the Boeing assembly line. ...Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am Stocks fall on tighter China lending, earnings letdownsGains by the dollar push down commodity prices. The Dow loses 122 points, well above its low for the day.The stock market posted its biggest drop in a month on concerns that tighter lending in China could endanger an economic recovery. Disappointing earnings from IBM and Morgan Stanley added to investors' angst.
Source: L.A. Times - Business | 21 Jan 2010 | 1:00 am Amphastar Pharmaceuticals files new appeal in FDA conflict-of-interest caseThe drug maker is seeking to market a generic version of the blood thinner heparin. Its complaint shows the maneuvering that can break out when billions of dollars in profits are at stake. ...Source: RSS feed - channel BNPaperBusiness | 21 Jan 2010 | 1:00 am UBI Banca Niederlassung Munich Goes Live With Misys Midas PlusSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 1:00 am European Voice and SMS Roaming Costs Have Fallen by 50% Since 2007, but the Average Retail Price for European Mobile Data Roaming is 5 Times the Wholesale PriceSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 1:00 am Frost & Sullivan: Banking on Europe's Offshore Wind IndustrySource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 1:00 am World financial markets shudder as China starts to put brakes on its fast-growing economyBeijing moves to tighten lending and deflate a potential asset bubble, but investors fear that any moderation in the nation's expansion could stymie the global rebound.China, the primary engine leading the global economy out of recession, is starting to put the brakes on its fast-growing economy -- and the rest of the world is watching closely.
Source: L.A. Times - Business | 21 Jan 2010 | 1:00 am Property listings hurt by tax speculationThe prices of listed property trust fell today after the Tax Working Group yesterday recommended the Government consider a land tax and removal of depreciation allowances on buildings.Overall, the New Zealand sharemarket outperformed...Source: nzherald.co.nz - Business | 21 Jan 2010 | 12:56 am Skipton's decision shows how low interest rates carry a sting in their tailSkipton's decision to tear up its contract with customers reflects the challenges facing building societies, writes Banking Editor Philip Aldrick.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 12:47 am Cautious Morrisons Christmas sales rise 6.8%Wm Morrison, Britain's fourth largest supermarket group, served a record number of customers over Christmas and saw sales of its party foods almost double, but remained cautious about the outlook for consumer spending this year. Source: Latest Business News from Times Online | 21 Jan 2010 | 12:41 am Asia stocks weak as China data signals tighteningSINGAPORE (Reuters) - Most Asian stock markets fell on Thursday as investors worried that China would take more measures to temper growth after reporting its fastest quarterly growth in twoSource: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 12:37 am Chinese economy records fastest growth since financial crisis eruptedThe Chinese economy has recorded its fastest growth since the financial crisis erupted.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 12:24 am Christopher Biggins: 'Bankruptcy was the best thing to happen to me'Christopher Biggins, the 'I'm a Celebrity' winner, is now back on his feet and an avid art collector.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Jan 2010 | 11:50 pm Peter Brimelow: Crash of 2008 winner says bear market is backProponents of a weird investment theory say another crash is coming. Even weirder: they were right last time, writes Peter Brimelow.
Source: MarketWatch.com - Top Stories | 20 Jan 2010 | 11:39 pm NZ dollar climbs back over US72cThe NZ dollar got a lift from strong retail sales data today but it did not last for long as the US dollar surged to a four-month high after China reported strong fourth quarter growth.The NZ dollar rose about 30 points from US71.90c...Source: nzherald.co.nz - Business | 20 Jan 2010 | 10:57 pm MarketWatch First Take: China's growth trend is believeableWhile China's economic numbers may cause wary looks, the trend of the data -- which currently show the Chinese economy back on the upswing -- is more difficult to ignore.
Source: MarketWatch.com - Top Stories | 20 Jan 2010 | 10:27 pm Starbucks rallies, sets sights overseas (AP)
Source: Yahoo! News: Business News | 20 Jan 2010 | 10:03 pm Simon Constable: Too much is not enough for KraftKraft Foods Inc. is going to get indigestion from gobbling Cadbury Plc., writes Simon Constable.
Source: MarketWatch.com - Top Stories | 20 Jan 2010 | 10:01 pm Is It the Wrong Time for REITs?Real estate investment trusts have soared, but is their outlook dicey?
Source: SmartMoney.com | 20 Jan 2010 | 10:00 pm 5 Smart Books: A Reading Rally (SmartMedia)Hedge fund guru introduces a new edition on stock market speculators.
Source: SmartMoney.com | 20 Jan 2010 | 10:00 pm Active Trader: Taking Away the Punch Bowl (Active Trader)Next week's statement could move both stocks and bonds.
Source: SmartMoney.com | 20 Jan 2010 | 10:00 pm Radio Gets a Makeover (Deal of the Day)Out: MP3 players. In: Free radio. What you need to know about the newest technology.
Source: SmartMoney.com | 20 Jan 2010 | 10:00 pm A Comeback for Dogs of the Dow Theory?Chevron and other new Dogs could bring bite back to this strategy.
Source: SmartMoney.com | 20 Jan 2010 | 10:00 pm 3 Stocks With Giant Cash Balances (Screens)For better or worse, these companies have amassed plenty of idle funds.
Source: SmartMoney.com | 20 Jan 2010 | 10:00 pm Obama to put limits on bank tradingPresident Barack Obama is set to toughen his approach to Wall Street regulation, announcing limits on the size of proprietary trading operations in the second broadside against banks this monthSource: Financial Times - US homepage | 20 Jan 2010 | 9:59 pm Farm sales down in 2009The number of farms sold in the last few months of 2009 was well down on previous years, says the Real Estate Institute of New Zealand.REINZ says 241 New Zealand farms were sold during the thee months to December 2009. 753 were...Source: nzherald.co.nz - Business | 20 Jan 2010 | 9:33 pm China's economic growth soars by 10.7 per centChina stepped up its roaring pace of recovery from the financial crisis in the final quarter of 2009, beating official growth targets and putting it on course to become the world’s second biggest economy behind America later this year. Source: Latest Business News from Times Online | 20 Jan 2010 | 9:12 pm Consumer confidence up to three-year highConsumer confidence rose to a three-year high in the latest ANZ-Roy Morgan Consumer Confidence survey.The survey's confidence measure rose 12.8 points in January to 131.4. This is the largest monthly movement since September 2008.The...Source: nzherald.co.nz - Business | 20 Jan 2010 | 9:01 pm China grows 10.7% in fourth quarterStrong growth was accompanied by higher inflation, with consumer prices rising 1.9% in year on year in December, raising fears that Beijing may introduce stronger measures to avoid economic overheatingSource: Financial Times - US homepage | 20 Jan 2010 | 8:35 pm World Bank sees risk of recovery losing steamThe World Bank warns that while it believes the global economy will grow 2.7 per cent this year and that the risk of a double-dip recession is receding, the effects of the crisis will lingerSource: Financial Times - US homepage | 20 Jan 2010 | 8:30 pm Honduras grants ousted president safe passageHonduras’ incoming government has tried to end the country’s long-running political crisis by granting Manuel Zelaya, the ousted president, safe passage to the Dominican RepublicSource: Financial Times - US homepage | 20 Jan 2010 | 8:11 pm Fed Farmers hits out at land tax ideaFederated Farmers has hit out at the Tax Working Group's recommendation for a land tax, saying the tax could cost farmers NZ$525 million annually.The group's report released yesterday, suggested a land tax of 0.5 per cent across...Source: nzherald.co.nz - Business | 20 Jan 2010 | 8:00 pm Land tax plan worries Maori PartyMaori will be particularly hard hit by any new land tax, says Maori Party co- leader Pita Sharples.Sharples said he is "concerned" at the Tax Working Group's recommendation to introduce a 0.5 per cent land tax.He said a land...Source: nzherald.co.nz - Business | 20 Jan 2010 | 7:30 pm Belgian shops low on beer amid labour rowLEUVEN, Belgium - The world's largest brewer, Anheuser-Busch InBev SA, shut down production in its home country yesterday, in an escalation of a stand-off over job cuts with its Belgian workers which is causing beer shortages in shops.Workers...Source: nzherald.co.nz - Business | 20 Jan 2010 | 7:09 pm Schwab prices offering at $19 a shareNEW YORK (Reuters) - Charles Schwab Corp , the largest U.S. online brokerage, on Wednesday said it priced an offering of more than 26 million of its shares at $19 a share.Source: Reuters: Business News | 20 Jan 2010 | 7:04 pm Verizon iPhone unveiling coming?Source: Business and financial news - CNNMoney.com | 20 Jan 2010 | 7:02 pm Cities: Jobs a long way offThe economies of many cities will begin to rebound in 2010, but a full recovery is far off, especially for the labor market, said a metro area outlook report released Wednesday.Source: Business and financial news - CNNMoney.com | 20 Jan 2010 | 6:57 pm Apple tablet: New details leakedSource: Business and financial news - CNNMoney.com | 20 Jan 2010 | 6:54 pm Venezuela's Chavez seizes French-owned retailer (AP)
Source: Yahoo! News: Business News | 20 Jan 2010 | 6:31 pm Google faces China questions amid solid Q4SAN FRANCISCO (Reuters) - Google Inc is expected to deliver stellar fourth-quarter results on Thursday, but investors will be seeking insight into a disagreement with China that has cast doubt on its future in the world's largest Internet market.Source: Reuters: Business News | 20 Jan 2010 | 5:40 pm YouTube to test video renting serviceYouTube will soon start testing a video rental service in the US, marking its latest attempt to move beyond its traditional advertising-supported roots and opening what some analysts said would be a new front in parent Google’s fast-developing rivalry with AppleSource: Financial Times - US homepage | 20 Jan 2010 | 5:35 pm Carter Holt in $225m dairy farm sell-offCarter Holt Harvey is placing 29 dairy farms on converted Waikato forestry land on the market, asking $224.5 million in the largest single offering of farming land ever seen in New Zealand, according to Bayleys Real Estate, which...Source: nzherald.co.nz - Business | 20 Jan 2010 | 5:30 pm JP Morgan closes in on RBS SempraJP Morgan is understood to be in exclusive talks to acquire RBS Sempra, the commodities trader jointly owned by the state-backed Royal Bank of Scotland.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Jan 2010 | 5:26 pm EBay beats in quarter on PayPal, e-commerce growthSAN FRANCISCO (Reuters) - EBay Inc forecast 2010 results above expectations after posting double-digit revenue growth in PayPal and its main online marketplaces unit, sending shares up 8 percent.Source: Reuters: Business News | 20 Jan 2010 | 5:11 pm General Re fined $92m for alleged sham salesThe company agrees to pay more than $92m to settle allegations related to sham transactions with insurers American International Group and Prudential FinancialSource: Financial Times - US homepage | 20 Jan 2010 | 5:07 pm Starbucks U.S. sales signal return to growthLOS ANGELES (Reuters) - Starbucks Corp posted its first quarterly rise in U.S. same-store sales in two years, signaling that recession-weary consumers are spending more on small, daily luxuries.Source: Reuters: Business News | 20 Jan 2010 | 5:01 pm Up to 1,400 UK jobs at risk as Chevron plans deep refinery cutsAs many as 1,400 jobs at one of Britain’s largest oil refineries are under threat after Chevron said last night that it was planning a restructuring that would involve sweeping cuts across its global refining operation. Source: Latest Business News from Times Online | 20 Jan 2010 | 5:01 pm Noble Foods to get just desserts in £35m deal for GüGü, the premium pudding maker, was on the brink of being sold last night for up to £35 million. Source: Latest Business News from Times Online | 20 Jan 2010 | 5:01 pm Brixton chief Tim Wheeler took ski trip amid crisis, tribunal toldTim Wheeler, the former chief executive of Brixton Plc, refused to cancel a holiday and concentrate on rescuing the ailing commercial property company, telling a fellow director: “F*** that, I’ve paid for it”, an employment tribunal heard yesterday. Source: Latest Business News from Times Online | 20 Jan 2010 | 5:01 pm Shares take fright as driver of recovery slams brakes on lendingWorld stock markets plunged yesterday amid fears that China, nervous about inflation, has put a plug in the liquidity that has been fuelling the economic recovery. Source: Latest Business News from Times Online | 20 Jan 2010 | 5:01 pm Nation - Wednesday (Investor's Business Daily)Investor's Business Daily - Senate Dems proposed allowing the U.S. gov't to borrow an additional $1.9 tril to pay its bills, a record increase that would permit the national debt to reach $14.3 tril. The record increase in the debt limit is required because the budget deficit has spiraled out of control in the wake of a recession that cut tax revenues, the bank bailout and increased spending by the Dem-controlled Congress. Last year's deficit hit $1.4 tril, and the current year's deficit promises to be as high or higher. ...Source: Yahoo! News: Business News | 20 Jan 2010 | 4:51 pm In picturesChina's journey from farming to factory of the worldSource: BBC News | Business | World Edition | 20 Jan 2010 | 4:46 pm Questor share tips: Qinetiq is significantly underperforming the marketProfit warnings come in threes - or so the old stock market adage goes. That's why QinetiQ's second profit warning in a matter of months is a major concern.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Jan 2010 | 4:46 pm Wall Street drops on China, IBM; EBay jumps lateNEW YORK (Reuters) - The Dow suffered its worst drop of 2010 on Wednesday as U.S. stocks succumbed to fears that China's curbs on bank lending might jeopardize the global economic recovery, while IBM's outlook sparked caution about the technology sector.Source: Reuters: Business News | 20 Jan 2010 | 4:45 pm Questor share tips: Jessops trading suspension should act as a warning to investorsHere is a warning to all private investors - make sure you do your homework before you make an investment. Not cursory research - proper research. Otherwise you could be throwing your hard-earned money away, as many investors have done with camera retailer Jessops.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Jan 2010 | 4:43 pm Airbus: final deal on A400M after 9 months of wrangling?It has been a long and difficult birth for Airbus's military transport plane.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Jan 2010 | 4:38 pm Stocks fall as China clamps down on bank lending (AP)
Source: Yahoo! News: Stock Markets News | 20 Jan 2010 | 4:35 pm NZ Super Fund bounces back, but still behind targetThe New Zealand Superannuation Fund continues to bounce backfrom its losses but is still behind on its long term target.The fund, which was set up in 2003 by the Labour-led Governmentto help provide for the future costs of...Source: nzherald.co.nz - Business | 20 Jan 2010 | 4:30 pm Treasury prices jump as stocks slide (AP)AP - Interest rates fell in the bond market Wednesday as concerns grew that reduced bank lending in China would disrupt a global economic recovery.Source: Yahoo! News: Stock Markets News | 20 Jan 2010 | 4:28 pm Warren Buffett attacks Kraft's 'bad' Cadbury dealWarren Buffett has fired a shot at Kraft Foods' management, claiming the US company's proposed £11.9bn takeover of Cadbury has left him feeling "poor" and branding it a "bad deal".Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Jan 2010 | 4:26 pm How the major stock indexes fared on Wednesday (AP)AP - Investors' growing anxiety about China's attempts to slow its economy and disappointing earnings reports in the U.S. led to another selloff in stocks. The concern in the markets is that China's drive to clamp down on bank lending could endanger a global economic recovery. That helped send the dollar higher against other currencies and also pushed commodity prices lower, which hurt the stocks of energy and materials companies.Source: Yahoo! News: Stock Markets News | 20 Jan 2010 | 4:25 pm Write-Offs: 01.20.10$$$ SEC eyes new charges against Galleon's Rajaratnam [Reuters] $$$ Goldman Takes GEO Fund Off Life-Support [AR] $$$ The 15 Hottest Billionaire WAGS [BB] $$$ Roddy Boyd on America's Nastiest CEO [TBM] $$$ Icahn Wins in Bid for Las Vegas Resort [Dealbook] 
 Source: Dealbreaker | 20 Jan 2010 | 4:22 pm Cadbury shareholders creme off profits from Kraft dealLegal & General and State Street Global Advisers, the fund managers, have emerged as some of the biggest winners from Kraft's agreed £11.9bn takeover of Cadbury.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Jan 2010 | 4:22 pm China, Mining ETFs Lead Market South (Investor's Business Daily)Investor's Business Daily - China and mining stocks led world markets lower Wednesday on news that the world's largest country is tightening lending standards, which could slow economic recovery.Source: Yahoo! News: Stock Markets News | 20 Jan 2010 | 4:14 pm Buffett hits at Kraft’s ‘bad’ Cadbury dealBillionaire investor says he has ‘a lot of doubts’ over the Cadbury purchase and would have voted against the deal had Kraft sought shareholder approvalSource: Financial Times - US homepage | 20 Jan 2010 | 4:13 pm Wealth managers post mixed resultsNEW YORK (Reuters) - U.S. retail brokerages posted mixed fourth-quarter profits as higher merger and recruiting expenses offset growing management fees and a market-fueled increase in client assets.Source: Reuters: Business News | 20 Jan 2010 | 4:10 pm Retail sales beat expectations in NovemberRetail sales rose a seasonally adjusted 0.8 per cent, or $46 million, in November, with higher vehicle fuel sales a key element in the increase from October's figures.Publishing the data today, Statistics New Zealand (SNZ) said...Source: nzherald.co.nz - Business | 20 Jan 2010 | 4:00 pm Bonus Watch '10: Morgan Stanley
Source: Dealbreaker | 20 Jan 2010 | 3:43 pm Please Fire Me: Hate on the Job You Can’t LeaveNeed to vent your dissatisfaction at work? Please Fire Me is a new blog devoted to the simple, oft-creative rants of dissatisfied employees. Pretty funny stuff: Please fire me. I rarely have violent ideations except for when I’m at work, in which I imagine elaborate and gory fork-related murders.
Please fire me. My boss thinks he’s a hipster but he’s actually just an aging, balding hippie who can afford hipster clothes. Please fire me. My office only has one men’s bathroom and I can’t look my bosses in the eyes after hearing the noises they’ve made in there. Reading these makes me glad I’m self-employed.
Source: Business Pundit | 20 Jan 2010 | 3:35 pm YouTube To Rent Videos No One Wants For FreeYouTube, the highly popular but unprofitable video-sharing operation owned by Google (NASDAQ:GOOG) will begin to offer movie rentals. This is presumably a way to make money. YouTube is set to launch the services with movies from the Sundance Film Festival, a place were small jewels of movies go to die. “Welcome to the Rileys” and “HOWL”, two films that have drawn interest at [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 Jan 2010 | 3:35 pm Wall Street drops on China, IBM; EBay jumps late (Reuters)
Source: Yahoo! News: Stock Markets News | 20 Jan 2010 | 3:31 pm Canadian terror plotter jailed for seven years (AFP)
Source: Yahoo! News: Stock Markets News | 20 Jan 2010 | 3:17 pm Podcast: Taxing Health Care
A health care protest outside Capitol Hill. (John Moore/Getty Images) On today's Planet Money: We debate the merits of the so-called "Cadillac tax", a proposed tax on expensive health insurance plans. Jonathan Gruber, an economist at MIT, is a champion of the tax. He says charging consumers a bit more for pricey plans will make them think twice about rushing off to the emergency room for a swollen knee. Plus, he says it could mean a few extra dollars in your pocket. Gruber reasons that if employers are spending less on benefits, they'll put more money into paychecks. Of course not everyone agrees with Gruber, including today's special guest, who thinks the tax will only make employers richer and hurt the middle class. After the jump, an anti-Cadillac tax commercial. Download the podcast; or subscribe. Music: Youngbloodz' "Cadillac Pimpin." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 20 Jan 2010 | 3:17 pm Mortgage pain persists for BofA, Wells, U.S. BancorpCHARLOTTE/NEW YORK (Reuters) - In a sign that the U.S. banking sector's problems are far from over, lenders including Bank of America Corp reported falling bond trading revenue and mortgage lending weakness in the fourth quarter.Source: Reuters: Business News | 20 Jan 2010 | 3:11 pm Maybe That's Why Buffett Was Cranky Today?The man had a bad day. First there was the Kraft/Cadbury "bad" deal, on which he can't even vote and makes him feel "poor." Then the Obama bank tax proposal, which WB doesn't like. And then the bankers who just can walk away, their pockets overflowing with money. And now this.
Source: Dealbreaker | 20 Jan 2010 | 3:08 pm Buffet's share split may tempt more small investorsNEW YORK (Reuters) - Warren Buffett's move to split Berkshire Hathaway Inc Class B shares will tempt smaller investors to buy into the once high-priced stock and could lead to its eventual inclusion in the S&P 500 index.Source: Reuters: Business News | 20 Jan 2010 | 2:57 pm New York Times, Coach, Kraft Foods, CSX are movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 20 Jan 2010 | 2:54 pm Housing starts take a December dip with cold weatherBrutish winter weather drove national data on new housing starts down in December, but the South and the West fared better than the chillier Midwest and Northeast.
Source: L.A. Times - Business | 20 Jan 2010 | 2:52 pm New York Times to charge frequent users of its siteReaders will get an unspecified number of articles for free in a month and then be asked to pay a flat fee for continued, unlimited use.
Source: L.A. Times - Business | 20 Jan 2010 | 2:36 pm Bonus Watch '10: WHO'S EXCITED FOR GOLDMAN?Goldman Sachs is set to report bonus numbers next week, after postponing the good news by several days. This has made a lot of people very upset! Some, because they think it's a vast conspiracy, rather than a logistical move (LB needs to have the golden scrots rotated before he can make it rain ka-ching! on his employees' faces), others because they just wanna know so bad! Who can eat, sleep or get on with his/her life until we know what Goldman Sachs employees are making??? GS Bonus Day is the most exciting event of the year and you put it off any longer and it's likely some people might actually burst. And it's not just deeply disturbed navel gazers who need to know now it's everyone! It's journalists! It's financial services hacks at other banks! It's Dick Bové coping by chain smoking and biting her nails down to nothing! It's Gary Busey! It's John Mack, who can barely keep his legs crossed! It's the Goldman Sachs Value Stock Tips Guy (remember him? Tear)! It's Ping Jiang, death-gripping his favorite whiteboard marker! It's Larry Summers, losing* his shit! It's Jeff Gundlach, watching Bone Us Day Volume 19 on loop! It's Goldman employees, as captured by the Guardian! Such as this kid, running to the Falafel truck!
Source: Dealbreaker | 20 Jan 2010 | 2:32 pm Presented By:Source: Dealbreaker | 20 Jan 2010 | 2:32 pm eBay Looking Good Enough (EBAY)eBay Inc. (NASDAQ: EBAY) looks mixed on the reaction despite the positive headline data. The online auction monopoly posted $0.44 non-GAAP EPS on $2.37 billion in revenues. Thomson Reuters had estimates at $0.40 EPS and $2.29 billion in revenues. The guidance would be taken as mixed here by our count considering its move of the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 Jan 2010 | 2:30 pm Starbucks Pleases Skeptics (SBUX)Starbucks Corp. (NASDAQ: SBUX) has just reported earnings of $0.33 non-GAAP EPS and $2.72 billion in revenues vs. $0.28 and $2.60 billion in revenue estimates from Thomson Reuters. The biggest figure here is that the same store sales were up about 4%, which we were looking for a 1% gain or slightly more. The company [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 Jan 2010 | 2:16 pm Obama affirms healthcare plansThe Obama administration promised to press ahead with healthcare reform in spite of an electoral setback in Massachusetts partly driven by anger over the Democratic agendaSource: Financial Times - US homepage | 20 Jan 2010 | 2:02 pm BofA's Moynihan Will Hire Someone That's GoodBank of America's new CEO Brian Moynihan had his first earnings analyst conference call today and the question on everyone's lips was, "who will be the new CFO?" Joe Price, the current CFO, will succeed Moynihan in his previous role as the head of consumer, small business and credit-card lending in February. But Moynihan played coy, reportedly declined to give details, revealing only two clues:
Source: Dealbreaker | 20 Jan 2010 | 1:58 pm $9 Billion For Taxpayers, MaybeBy Daniel Costello American International Group Inc. is reportedly in talks with MetLife Inc. to sell one of its largest and most valuable insurance units for between $14 billion and $15 billion. The deal, if it goes through, would help pay off $9 billion of A.I.G.'s rescue debt to the government, and possibly more, depending on the price. Attempts to sell the unit have faltered for more than a year because of what A.I.G. considered low bids during the financial crisis. Under the terms now being discussed, MetLife would pay about $14 billion to $15 billion for the A.I.G. subsidiary, which has an attractive foothold in fast-growing Asian markets, according to people briefed on the negotiations. That price suggests a large premium above the unit's current price although the economics of the industry have gyrated in the last two years. Alico is an international life and health insurance business that operates in more than 50 countries around the world. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 20 Jan 2010 | 1:05 pm NYFed Defends "Accuracy" Of AIG DealThe Fed is funny. Not Bernanke-funny but getting there. That whole controversy about them pushing AIG not to disclose some information, especially regarding its counterparties and how much money they got? Well, it wasn't that they refused to make the appropriate disclosures, but rather that they were trying to be accurate, hence edited some data. Oh, and also, blame it on the lawyers. Some have also suggested that the FRBNY pressured AIG not to make required disclosures about material elements of the Maiden Lane III transactions, including that the counterparties received par value. This is also incorrect. It appears that this assertion is based, at least in part, on a misreading of emails among lawyers for the FRBNY and AIG.
Source: Dealbreaker | 20 Jan 2010 | 12:45 pm Caption Contest Wednesday
Source: Dealbreaker | 20 Jan 2010 | 12:34 pm Consumer boost for US banksLeading banks provided evidence that the US consumer recession is abating as they reported that losses on credit cards, mortgages and other loans were starting to moderate.Source: Financial Times - US homepage | 20 Jan 2010 | 12:19 pm Obama's bank tax flunks on every countPresident Obama wants to tax banks to ensure that TARP doesn't cost taxpayers money. Commentator David Frum explains why that's a bad idea.Source: Marketplace | 20 Jan 2010 | 11:33 am Clearing the air on carbon creditsMark Schapiro of the Center for Investigative Reporting talks with Kai Ryssdal about an article he wrote for Harper's Magazine, which discusses how we can measure a credit of carbon.Source: Marketplace | 20 Jan 2010 | 11:33 am Climbing out of a life of povertySome 40 million Americans live in poverty, and the odds are 50-50 that if you're born into poverty, you'll die poor. Stephen Smith profiles two friends who are trying to break the cycle.Source: Marketplace | 20 Jan 2010 | 11:33 am Military under fire for biblical gunsightsThe military is scrambling to decide what to do about some of the gunsights it's been buying for the Army and Marines. References to biblical passages are inscribed on them. Mitchell Hartman reports.Source: Marketplace | 20 Jan 2010 | 11:32 am FHA reforms aim to help in the long runThe Federal Housing Association says it will toughen up on the requirements for the residential loans it insures. Nancy Marshall Genzer reports.Source: Marketplace | 20 Jan 2010 | 11:32 am What's going on with the markets?The markets have been down all day, and at one point the Dow Jones was down 189 points, making it one of the worst trading days of the year so far. What's happening? Alisa Roth reports.Source: Marketplace | 20 Jan 2010 | 11:32 am What Senate change means for reformWith Republican Scott Brown winning the Massachusetts senatorial seat, the Democrats' filibuster-proof Senate majority is gone. Tom Mann of the Brookings Institution talks with Kai Ryssdal about what happens to President Obama's agenda now.Source: Marketplace | 20 Jan 2010 | 11:31 am Newfield’s New Capital Aim (NFX)Oil and gas developer Newfield Exploration Company (NYSE: NFX) has commenced an offering of $650 million in Senior Subordinated Notes due in 2020. The notes will be offered under an existing shelf registration statement, and the premium has yet to be set. Newfield plans to use the net proceeds from the offering to purchase $175 million [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 Jan 2010 | 11:11 am Bonus Watch '10: JPM (IBD)A few more numbers from the HoD. No word on how anyone is "feeling" about them at this time (if you'd like to get something off your chest, lay it on us): IBD associates (highs w/o base):
Source: Dealbreaker | 20 Jan 2010 | 11:03 am Hyland Says CFTC Cautious on Energy-Speculation Rules: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:39 am Stiglitz Says Recovery `Nowhere Near Robust’: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:39 am U.S. Mayors: Jobless Rate To Remain High For YearsBy Daniel Costello Unemployment rates will likely peak in most U.S. cities next year, but it will be many years before jobs return to the robust rates of the last decade, according to a new report released by the U.S. Conference of Mayors and research group Global Insight. The report published Wednesday, says that in some areas, such as California's central valley and cities in Nevada, unemployment rates will stay at or above 10 percent through 2013. In November, the last month for which city-wide data is available, 17 metropolitan areas had unemployment rates topping 15 percent, according to the Labor Department. The mayors group released the report a day ahead of a meeting with President Barack Obama, in which it will seek federal financial aid for small and large cities. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 20 Jan 2010 | 10:38 am Allied Irish Bank Raised to `Neutral' at UBS: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:37 am Blackstone’s Wien Says U.S. Economy Will Grow 5% in 2010: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:35 am Wallin Discusses Brown Victory in Massachusetts: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:34 am Time’s Newton-Small Discusses Survivors Found in Haiti: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:33 am RDQ's DeQuadros Sees Rising U.S. Inflation Rate: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:32 am Cliggott of Credit Suisse Sees Stocks Unchanged in 2010: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:31 am Second Curve's Brown Bullish on Banks in First Quarter: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 10:31 am Bill Gates Joins Twitter, Gains 100K Followers in 8 Hours
Bill Gates decided to join Twitter yesterday morning. 8 hours later, he had 100,000 followers. That’s a heck of a personal brand (from Mashable): Eight hours ago, Microsoft founder Bill Gates joined Twitter. Five hours ago, Twitter’s Caroline Mizumoto tweeted about it. And moments ago, @BillGates broke 100,000 Twitter followers. If you’re looking for the breakdown, that’s about 12,500 Twitter (Twitter) followers per hour, or ~208 new tweeps per minute. In reality though, Bill’s follower count escalated after Caroline’s tweet, meaning his real rate of growth is about 20,000 new followers per hour. The last time we’ve seen a new Twitter user with this kind of momentum was Oprah when she first joined. Mr. Gates is not only the world’s richest man, but one of its most popular it seems. His legacy as an entrepreneur and a philanthropist are far from forgotten. Welcome to the Twitterverse, Bill Gates. Gates’ first tweet: “‘Hello World.’ Hard at work on my foundation letter — publishing on 1/25.” Find him @BillGates.
Source: Business Pundit | 20 Jan 2010 | 10:17 am Rumor: Bing Could Become iPhone’s Default Search Engine
Apple and Microsoft are discussing making Bing the default search engine on the iPhone, according to Businessweek: The talks have been under way for weeks, say the people (close to the matter), who asked not to be named because the details have not been made public. The discussions could still unravel and may not be concluded quickly. Microsoft spokesman Frank Shaw and Apple spokeswoman Katie Cotton declined to comment. The discussions reflect the accelerating rivalry between Apple and Google, now the main provider of Web search on the iPhone. While the two companies have worked as partners in the past and Google Chief Executive Eric Schmidt had a seat on Apple’s board, Apple and Google have more recently begun competing in several markets, including mobile phones. Google sells a smartphone, the Nexus One, that competes directly with the iPhone and it has spearheaded development of a wireless handset operating system that rivals the iPhone OS. A deal between Apple and Microsoft may mean iPhone owners would automatically get Microsoft’s Bing as the main search engine, possibly requiring users to actively change phone settings if they want to search via Google. Google is now the default search engine on the iPhone. To search via Bing, a user needs to download a Bing application or go through the browser to call up www.bing.com. Microsoft may also be lobbying to make Bing an alternative on Apple’s Safari browser for Mac users. Currently, Mac users can choose either Google or Yahoo search through the Safari browser. Being the default search engine on the iPhone carries financial benefits for Google, which collects revenue from ads placed alongside its search results and shares a portion of that with Apple. Most mobile advertising now is viewed on Apple’s iPhone and iPod touch, according to mobile advertising company AdMob. To clinch the deal, Microsoft may be willing to share a higher portion of its revenue or pay a larger flat annual fee than Google does. Neither Apple nor Google discloses the financial terms of their search partnership. “Apple and Google know the other is their primary enemy,” says one of the people, who’s familiar with Apple’s thinking. “Microsoft is now a pawn in that battle.” Apple also has its own mobile search platform in the works, according to the article. By using Bing as the default, the company might just be buying itself time–and slowing down Google–until its own product releases. Personally, I’d remove Bing as soon as I found it on my iPhone. I wonder whether Apple is considering adding Bing to its menu of search choices, rather than making it a default installation. The latter would just be too Microsoft in nature.
Source: Business Pundit | 20 Jan 2010 | 10:05 am Dick Bove and Vikram Will Ride Into the Sunset
Bove said in a report today that Citi -which reported a $7.58 billion loss in the fourth quarter -needs to be destroyed before it can succeed. The firm will be able to "emerge from the rubble" once it sells what he delicately describes as its "remaining lagging operations": commercial credit, The Associates, Primerica, the remainder of Smith Barney and large portions of its mortgage and other weakened consumer portfolios. "This will complete the destruction and elimination of the old Citigroup."
Source: Dealbreaker | 20 Jan 2010 | 9:48 am New York Times Adopts Pay Model for 2011
Starting next year, the New York Times will limit free content. The move follows several newspapers’ initiatives, most visibly News Corp.’s Wall Street Journal and the Financial Times. ReadWriteWeb has more: The New York Times confirmed today that beginning in early 2011 the company will adopt a paid model for its web site, NYTimes.com. The move comes at a time when much of the newspaper industry is searching for a way to stop the bleeding brought on by the Internet and the much smaller revenue streams provided by online advertising. Many fear that putting content behind a wall of pay-only use will just drive readers to go to other sources, but perhaps the Times’ approach will help to combat that issue. The company will adopt a different approach from the most famous already-pay newspaper, the Wall Street Journal, which offers just a paragraph or two before hiding the rest of the content for subscribers only. The Times will use what it is calling a “metered model”, which will allow users to gain free access to a yet undetermined number of articles per month before a subscription is required. The announcement comes light on details of the plan, such as the number of free articles, how much the subscription will cost or precisely how it will work, but one thing is for sure – New York Times’ readers are going to have to pay to play. The company’s press release does tell us, however, that subscribers to the print edition will continue have access to the online edition. Notably, the Times’ model intends to “provide the necessary flexibility to keep an appropriate ratio between free and paid content and stay connected to a search-driven Web,” according to the release. Acknowledging the nature of the Web while trying to retain a profit, and hopefully keep paying your hard-working journalists, sounds like a good method to us. Fair enough. I do wonder, though, whether traffic and advertisers will flock to free sites as a result, making pay MSM sites carve themselves into more of a niche.
Source: Business Pundit | 20 Jan 2010 | 9:26 am Graco Strollers Recalls 1.5 Million Strollers for Finger Amputation Risk
Graco manufactured two different styles of hinge mechanisms for these stroller models. Only strollers or travel systems with a plastic, jointed hinge mechanism that has indented canopy positioning notches (see photo below) are included in this recall. The recalled strollers were manufactured between October 2004 and February 2008. The model number and manufacture date are located on the lower inside portion of the rear frame, just above the rear wheels. Sold at: AAFES, Burlington Coat Factory, Babies “R” Us, Toys “R” Us, Kmart, Fred Meyer, Meijers, Navy Exchange, Sears, Target, Walmart and other retailers nationwide from October 2004 and December 2009 for between $80 and $90 for the strollers and between $150 and $200 for the travel systems. Manufactured in: China Remedy: Consumers should immediately stop using the recalled strollers and contact Graco to receive a free protective cover repair kit. The CPSC has a chart of model numbers for affected strollers.
Source: Business Pundit | 20 Jan 2010 | 9:15 am Warren Buffett Still Doesn’t Like the Kraft-Cadbury Deal
The Oracle of Omaha, though he had some say behind Kraft sweetening its Cadbury deal, still doesn’t like it. The New York Times reports: “I’ve got a lot of doubts about the deal,” (Mr. Buffett) told CNBC’s Becky Quick. As before, Mr. Buffett’s concern remains the use of Kraft stock to pay for the now $19 billion deal. Even though Kraft has raised the level of cash and lowered the amount of stock it will use for the transaction, the Berkshire Hathaway chief said that he still considers the company’s shares undervalued. Issuing new shares at their current price to him is a loss of value. Kraft said that it had structured the acquisition so that it will no longer need shareholder approval to issue the necessary new stock. That’s a good thing, because Mr. Buffett said that if given the chance, he would vote down the proposal. He also criticized Kraft’s deal to sell its North American frozen pizza business to Nestle for $3.7 billion, a sale that raised additional cash for its Cadbury bid. To Mr. Buffett, the transaction was again at too low a price. Still, he refused to personally criticized Kraft’s chief executive, Irene B. Rosenfeld. “She’s a decent person,” he said, adding that he has cordial relations with her. In the interview, Buffett added, “I feel poor now,” according to the Wall Street Journal. Buffett’s “poor” is relative, but, as Kraft’s biggest shareholder, he has a right to express his disdain. He’s also keeping his stake in Kraft, so he must still have some faith in the company, despite its disobedience.
Source: Business Pundit | 20 Jan 2010 | 9:06 am GE Oil & Gas Goes Deeper into China (GE)General Electric Co. (NYSE: GE) has an interesting acquisition this morning, one that is far from its normal acquisition of the past. The company’s GE Oil & Gas unit has entered into a agreement to acquire a minority equity interest in Shenyang Turbo Machinery Corporation. This company is a large-scale Chinese state-owned enterprise, and it [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 Jan 2010 | 7:57 am Cole on Dollar, Gijsels on Housing, Ostwald on Bonds: AudioSource: Bloomberg - All Podcasts | 20 Jan 2010 | 7:32 am Morning Report: Housing Starts Fall, Permits On The RiseBy Caitlin Kenney Blame it on the rain? Housing starts fell more than expected last month, while building permits increased nearly 11 percent. Some analysts say the reason is the weather. From Bloomberg: "When it's cold and rainy you can't pour concrete and lay foundations, but you can get a permit," said Newport, an economist at IHS Global Insight in Lexington, Massachusetts, who forecast a drop in starts and increase in permits. "Overall, this is a really good report," he said, adding the housing recovery "has legs." The Department of Housing and Urban Development says work began on 557,000 houses in December, 4 percent less than November. Construction of single-family homes took the biggest hit, falling 6.9 percent. Meantime, RealtyTrac expects a record 2.8 million homes to repossessed by lenders this year. The Labor Department reports that the producer price index for finished goods, which measures the average change over time in the selling prices received by domestic producers for their output, increased just 0.2 percent in December. The index was up 1.8 percent in Novermeber. The core PPI which excludes food and energy prices remained flat, providing further evidence that inflation expectations will likely remain low. Bank of America reported a loss of $5.2 billion for the fourth quarter. The bank said a $45 billion TARP repayment had a major impact on its quarterly results. It repaid the government bailout money plus interest in December. This is the bank's third loss in the past five quarters. Meantime, Wells Fargo reported an unexpected fourth-quarter profit. The bank said Wednesday it earned $394 million in the last three months of 2009. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 20 Jan 2010 | 7:08 am How to be Cruel to Old Guys
Source: Business Pundit | 20 Jan 2010 | 4:43 am
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