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China: Clinton Internet speech harms ties with US (AP)
Source: Yahoo! News: Business News | 22 Jan 2010 | 3:38 am Obama taking latest jobs message to hard-hit Ohio (AP)
Source: Yahoo! News: Business News | 22 Jan 2010 | 3:37 am Oil prices edge higher (AFP)
Source: Yahoo! News: Business News | 22 Jan 2010 | 3:37 am European bank stocks hit by Obama's plansInvestors in Europe worry about the impact of President Barack Obama’s industry shake-up and whether European regulators will follow his lead.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 3:30 am Investors fret over Obama’s bank assaultGlobal Markets Overview: Financials suffer as investors worry about the impact the president’s move could have on fragile market sentiment, with sentiment further undermined by downbeat reaction to Google’s earningsSource: Financial Times - US homepage | 22 Jan 2010 | 3:29 am Legions Would Be Hurt By Obama Bank RulesThere may be merit in Obama’s notion of limits on the size and activities of banks. Banks that trade for their own accounts may be a different and more dangerous beasts than banks that hold deposits and make loans. But, leverage has its advantages which often helps shareholders, employees, and the businesses that banks fund. The Obama [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Jan 2010 | 3:29 am Car production falls 31% amid scrappage schemeThe motor industry today braced itself for a tough year ahead after its trade body announced that British car production fell by 31 per cent in 2009 compared with previous year. Source: Latest Business News from Times Online | 22 Jan 2010 | 3:27 am Banks may shed private equity assets in Obama planNEW YORK (Reuters) - U.S. President Barack Obama's plan to limit financial risk-taking could force banks, such as Goldman Sachs or JPMorgan, to shed parts of their private equity operations.Source: Reuters: Business News | 22 Jan 2010 | 3:20 am ST-Ericsson's loss widens on restructuring chargesThe semiconductor joint venture of STMicroelectronics and Ericsson says its fourth-quarter loss widened from the third quarter.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 3:20 am Economic Report: U.K. December retail sales rise disappointsThe U.K.'s Office for National Statistics says retail sales volumes rose in December by 0.3% from November, short of expectations.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 3:16 am Click here to see the doctorWhen his eardrum ruptured on a flight out of Seattle in 2006, Cyrus Massoumi knew he needed to see a doctor, fast.Source: Business and financial news - CNNMoney.com | 22 Jan 2010 | 3:14 am UK car production slumped in 2009UK car production fell by 31% in 2009 following the collapse in the global car market, industry figures show.Source: BBC News | Business | World Edition | 22 Jan 2010 | 3:12 am Wall Street looks for a reboundU.S. stocks looked set for a rebound of sorts Friday, as investors aimed to recoup losses from the previous session's selloff triggered by President Obama's new bank plan.Source: Business and financial news - CNNMoney.com | 22 Jan 2010 | 3:10 am Supreme Court Tells Big Business To Spend Itself To DeathThe Supreme Court’s decision on the 21st will allow corporations to give money to support or oppose political candidates. Legal experts say that the move reverses a decision made by the court almost 20 years ago. The flow of money to influence elections could easily move into the tens of billions of dollars per year. American [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Jan 2010 | 3:10 am China to broaden use of yuan-settlement facilitiesChina’s central bank intends to widen a trial program that enables companies to use the Chinese yuan to settle accounts involving cross-border transactions.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 3:05 am Bank, economy fears weigh on global stocks (AFP)
Source: Yahoo! News: Stock Markets News | 22 Jan 2010 | 3:03 am London Markets: Barclays shares add to week's slide in flat FTSEBarclays shares fall amid fears that regulators in the U.K. may force it to raise more capital and that U.S. authorities will limit its trading activities.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 3:00 am Apple faces big week with earnings, new productThe company is facing the culmination of months of rumors and speculation when it takes the stage in San Francisco next week to lift the wraps on what it calls its “latest creation.” But first come Apple's earnings.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 3:00 am UK retail sales see slow increaseUK retail sales volumes increased by just 0.3% between November and December according to official figures.Source: BBC News | Business | World Edition | 22 Jan 2010 | 2:49 am Sony Ericsson Q4 loss narrows 9 percent (AP)AP - Mobile phone maker Sony Ericsson on Friday said its loss in the fourth quarter narrowed 9 percent from a year ago to euro167 million ($235 million), as improved margins and lower costs offset a slump in sales.Source: Yahoo! News: Business News | 22 Jan 2010 | 2:49 am Asia markets skid, Nikkei slides 2.6%U.S. banking curbs and the prospect of China rolling out more measures to cool its economy trigger broad losses for Asia.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 2:44 am Futures point to higher Wall Street open (Reuters)
Source: Yahoo! News: Stock Markets News | 22 Jan 2010 | 2:33 am Futures point to higher Wall Street open(Reuters) - Stock index futures indicated that Wall Street may open higher on Friday, regaining a little of the ground lost in the previous session, when they fell heavily after President Barack Obama outlined plans for tougher banking regulations.Source: Reuters: Business News | 22 Jan 2010 | 2:33 am Oil hovers near $76 in Asia amid weak demand (AP)
Source: Yahoo! News: Business News | 22 Jan 2010 | 2:28 am World stocks track US lower after Obama proposal (AP)
Source: Yahoo! News: Business News | 22 Jan 2010 | 2:19 am World stocks track US lower after Obama proposal (AP)
Source: Yahoo! News: Stock Markets News | 22 Jan 2010 | 2:19 am Sony Ericsson posts narrower fourth-quarter lossSony Ericsson, the mobile-phone-making joint venture of Sony and Ericsson, on Friday posts a narrower fourth-quarter loss as its cost-cutting efforts bear fruit and margins improve following the launch of new models.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 2:18 am Big freeze pays off as Waitrose sales soarShoppers rushed to stock up their freezers last week, amid concern that heavy snowfall would leave them housebound or with understocked supermarkets. Source: Latest Business News from Times Online | 22 Jan 2010 | 2:17 am Bank stocks drop on Obama plansEuropean banking shares drop following President Barack Obama's plans to curb the activities of big US banks.Source: BBC News | Business | World Edition | 22 Jan 2010 | 2:17 am World stocks track US lower after Obama proposalAsian stock markets tumbled Friday after President Barack Obama proposed a sweeping overhaul of Wall Street banks to avert future financial crises. European shares opened modestly lower.Source: RSS feed - channel BNewsBusiness | 22 Jan 2010 | 2:04 am Europe Markets: European shares extend losses as banks declineThe threat of profit-hindering regulation continues to drive investors away from the banking sector in Europe.
Source: MarketWatch.com - Top Stories | 22 Jan 2010 | 1:57 am Getting in on China's stock boomThe group gathers every weekday: At least four ladies, and sometimes as many as eight, gather at the cavernous, badly lit brokerage office on Shanghai's Xiangyang Lu in what was known, when China was colonized by European powers in the 19th century, as the French Concession.Source: Business and financial news - CNNMoney.com | 22 Jan 2010 | 1:56 am Clinton’s web appeal dismissed by Chinese mediaChinese responses dismissing Hillary Clinton’s call for Beijing to lift internet censorship were themselves cut from websites within hours of appearing, in a sign of the case’s sensitivitySource: Financial Times - US homepage | 22 Jan 2010 | 1:51 am Hershey not to make counterbid for Cadbury: report(Reuters) - U.S. chocolate maker Hershey Co has decided not to launch a counterbid for British confectioner Cadbury Plc following a unanimous vote by its board late on Wednesday, the Financial Times said, citing a person briefed on the matter.Source: Reuters: Business News | 22 Jan 2010 | 1:51 am Media Digest (1/22/2010) Reuters, WSJ, NYTimes, FT, BloombergReuters: China battle back at US charges about cyber attacks. Reuters: Under the new Obama proposal, banks may drop private equity assets. Reuters: Hershey (NYSE:HSY) will not make a counter bid for Cadbury (NYSE:CBY) Reuters: Toyota (NYSE:TM) upped its recall to 2.3 vehicles. Reuters: Google’s (NYSE:GOOG) profits rose, but revenue missed some forecasts. Reuters: American Express (NYSE:AXP) bet forecasts as did AMD (NYSE:AMD). WSJ: NBC [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Jan 2010 | 1:48 am British bank shares fall after Barack Obama targets Wall StreetShares in major British banks fell this morning after Barack Obama's dramatic decision to call time on Wall Street's risky trading practices.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Jan 2010 | 1:47 am Mobile phone maker Sony Ericsson reports Q4 lossMobile phone maker Sony Ericsson says it made a loss in the fourth quarter due to a sharp slump in sales. Friday's income statement still showed an improvement from the same quarter lastSource: RSS feed - channel BNewsBusiness | 22 Jan 2010 | 1:45 am Sony Ericsson Q4 loss narrows 9 percentMobile phone maker Sony Ericsson on Friday said its loss for the fourth quarter narrowed 9 percent to euro167 million ($235 million), as improved margins and lower costs offset a slump in...Source: RSS feed - channel BNewsBusiness | 22 Jan 2010 | 1:45 am Obama taking latest jobs message to hard-hit OhioPresident Barack Obama is telling voters in Ohio, already wracked by high unemployment, that investments in clean-energy technologies will help boost the nation's economy. Obama planned...Source: RSS feed - channel BNewsBusiness | 22 Jan 2010 | 1:44 am China returns fire against US in Google-warChina today inflamed the international row with America over cyber-attacks on Google, denouncing Hillary Clinton’s criticism of the country's internet curbs as “information imperialism”. Source: Latest Business News from Times Online | 22 Jan 2010 | 1:40 am Google profit rises, revenue misses some forecastsSAN FRANCISCO (Reuters) - Google Inc was among the first technology companies to shake off the recession last year, but the Internet giant's fourth-quarter report could not satisfy investors' increasing demand for stronger growth.Source: Reuters: Business News | 22 Jan 2010 | 1:40 am Shares fall on Obama bank plansMarkets in the US and Asia fall sharply after US President Barack Obama unveils plans to regulate the banking industry.Source: BBC News | Business | World Edition | 22 Jan 2010 | 1:32 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 | 22 Jan 2010 | 1:31 am FTSE 100 falls at open (AFP)
Source: Yahoo! News: Stock Markets News | 22 Jan 2010 | 1:27 am French business confidence strongerFrench business leaders are gaining confidence about their near-term prospects, with an index published on Friday showing a four-point rise this month to its highest level since September...Source: RSS feed - channel BNewsBusiness | 22 Jan 2010 | 1:26 am Asia Markets And Europe Open (1/22/2010) Sell OffMarkets is Asia were lower The Nikkei fell 2.6% to 10,591. The Hang Seng was down .9% to 30,678. HBC (NYSE:HBC) fell sharply. The Shanghai Composite dropped 1% to 3,129. At the open in Europe, the FTSE dropped .4% to 5,313. Barclays (NYSE:BCS) and Deutsche Bank (NYSE:DB) sold off. The Dax dropped .5% to 5,718. The CAC 40 was [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Jan 2010 | 1:21 am BA to train 'scab' cabin crewsBritish Airways is to train 'scab' aircrews from the rest of its workforce in a bid "to keep as many planes in the sky as possible" in the event of looming industrial action.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Jan 2010 | 1:07 am Mountaintop mining: Coal baron debates a KennedyThe real audience for the debate between coal baron Don Blankenship and conservationist Robert F. Kennedy Jr. was not the hundreds who packed the audience at the University of Charleston.Source: RSS feed - channel BNewsBusiness | 22 Jan 2010 | 1:01 am Sunflower DNA map could produce plants for fuelA $10.5 million research project to map sunflowers' DNA sequence could one day yield a towering new variety for both food and fuel. Researchers envision crossbreeding a standard...Source: RSS feed - channel BNewsBusiness | 22 Jan 2010 | 1:00 am Clinton presses for open accessWASHINGTON -- Secretary of State Hillary Rodham Clinton Thursday urged China to investigate cyber intrusions that led Google to threaten to pull out of that country -- and challenged Beijing to openly...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am Home prices in California rise in DecemberThe statewide median price is $264,000, up 1.1% from November and up 6% from a year earlier.California home prices ticked up 1.1% in December from the previous month, continuing a slow but steady improvement for the state's housing market, according to data released Thursday.
Source: L.A. Times - Business | 22 Jan 2010 | 1:00 am Toyota issues new recall for 2.3 million vehiclesSticking gas pedals can cause runaway acceleration. The action is separate from the beleaguered automaker's earlier recall of 4.3 million vehicles for gas pedal problems. ...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am Karatz prosecutors deny misconductIn a motion filed in federal court in Los Angeles, they accuse the former KB Home CEO of making baseless allegations to block damaging testimony against him in a stock options backdating case. ...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am Ecstasy-to-drive Lotus Evora leaves one question: Take a check?It's not easy to make a veteran auto writer weep with need. But the Evora does it, taking the modern Lotus design and making it elegant and a bit roomier. It's a slice of heaven that slides.Every time I write about a high-performance sports car, I'm guaranteed to get letters from readers to this effect: "How can you possibly glorify the Badminton Dual-Cowl 87B? No one needs a car that goes 200 mph, costs $300,000 and gets five miles per gallon. With all that's going on in the world [climate change, war in the Middle East, balance of trade etc.]. For shame. For shame!"
Source: L.A. Times - Business | 22 Jan 2010 | 1:00 am Toyota issues new recall for 2.3 million vehiclesSticking gas pedals can cause runaway acceleration. The action is separate from the beleaguered automaker's earlier recall of 4.3 million vehicles for gas pedal problems.Toyota Motor Corp. launched a major new recall Thursday, saying a mechanical problem could cause the gas pedals to stick and cause unwanted acceleration in 2.3 million of its vehicles, including recent models of its popular Camry and Corolla sedans.
Source: L.A. Times - Business | 22 Jan 2010 | 1:00 am Conan O'Brien, NBC finalize severance dealThe network will pay the 'Tonight Show' host nearly $33 million to make way for the return of Jay Leno. NBC will also spend $12 million in compensation for the show's 190 staffers. ...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am 30-year mortgage interest rates slide back below 5%Following bond yields, the weekly decrease is the third in a row.Freddie Mac's widely watched survey of the mortgage market provided homeowners and would-be home buyers with another round of good news Thursday: A third straight week of falling interest rates has taken the average rate on 30-year fixed-rate home loans below 5% again.
Source: L.A. Times - Business | 22 Jan 2010 | 1:00 am Conan O'Brien, NBC finalize severance dealThe network will pay the 'Tonight Show' host nearly $33 million to make way for the return of Jay Leno. NBC will also spend $12 million in compensation for the show's 190 staffers.Conan O'Brien, who hosts his last episode of "The Tonight Show" tonight, does not intend, in his words, to become a $200 question on "Jeopardy."
Source: L.A. Times - Business | 22 Jan 2010 | 1:00 am Home prices in California rise in DecemberThe statewide median price is $264,000, up 1.1% from November and up 6% from a year earlier. California home prices...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am Clinton presses for open accessWASHINGTON -- Secretary of State Hillary Rodham Clinton Thursday urged China to investigate cyber intrusions that led Google to threaten to pull out of that country -- and challenged Beijing to openly publish its findings.
Source: L.A. Times - Business | 22 Jan 2010 | 1:00 am Bloomingdale's to open four outlet storesThe outlets, all on the East Coast, will open by fall, and Bloomingdale's plans more locations later. The luxury chain is responding to consumers' 'particular focus on value,' an executive says. ...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am Bloomingdale's to open four outlet storesThe outlets, all on the East Coast, will open by fall, and Bloomingdale's plans more locations later. The luxury chain is responding to consumers' 'particular focus on value,' an executive says.Hoping to tap into consumers' new frugality, luxury department store chain Bloomingdale's plans to launch an outlet store concept this year.
Source: L.A. Times - Business | 22 Jan 2010 | 1:00 am Ecstasy-to-drive Lotus Evora leaves one question: Take a check?It's not easy to make a veteran auto writer weep with need. But the Evora does it, taking the modern Lotus design and making it elegant and a bit roomier. It's a slice of heaven that slides. ...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am 30-year mortgage interest rates slide back below 5%Following bond yields, the weekly decrease is the third in a row. Freddie Mac's widely watched survey of the mortgage...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am California OKs $350 million in rebates for installing solar water heatersThe program approved by the state Public Utilities Commission could reduce the cost of a solar-powered system by 15% to 25%, industry experts say. ...Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am Stocks fall on fears about Obama bank plan, ChinaStocks tumbled Thursday after President Obama unexpectedly proposed new limits on the activities of the country's banks and worries intensified about China's effort to slow its economy.Source: RSS feed - channel BNPaperBusiness | 22 Jan 2010 | 1:00 am Savers should ask themselves why they are staying in cashThe Bank of England's decision to switch 70pc of its staff pension fund into index-linked gilts was a heavy hint about what to expect.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Jan 2010 | 12:55 am Obama moves to rein in banks in Wall Street assault (AFP)
Source: Yahoo! News: Business News | 22 Jan 2010 | 12:54 am India's Reliance profit increasesIndian oil giant Reliance Industries says that net profits jumped to 40.1bn rupees ($861m, £530m) in the last three months of 2009.Source: BBC News | Business | World Edition | 22 Jan 2010 | 12:47 am Takeover targets: who will be next?The Kraft-Cadbury deal may be the first of many UK sales. Justin Harper looks at who could follow suitSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Jan 2010 | 12:46 am Bank shares tumble on Obama crackdownShares in Barclays and Royal Bank of Scotland (RBS) tumbled this morning after sharp falls on Asian markets in the wake of President Barack Obama’s pledge last night to wage war on American banks in the biggest regulatory crackdown on financial institutions since the 1930s. Source: Latest Business News from Times Online | 22 Jan 2010 | 12:44 am Asia stocks slide on Obama plan (Reuters)
Source: Yahoo! News: Stock Markets News | 22 Jan 2010 | 12:38 am Asia markets tumble on Obama crackdown on banks (AFP)
Source: Yahoo! News: Stock Markets News | 22 Jan 2010 | 12:14 am Rusal launches $2.2bn share saleRussian aluminium firm Rusal sells $2.2bn (£1.36bn) of shares in a public listing in Hong Kong.Source: BBC News | Business | World Edition | 22 Jan 2010 | 12:13 am Gates sees room for Taliban in Afghan governmentThe US would welcome Taliban participation in Afghanistan’s government – as long as the group gives up violence and recognises the country’s legitimate rulers, says Robert Gates, US defence secretarySource: Financial Times - US homepage | 21 Jan 2010 | 11:55 pm Stock markets under pressure as Barack Obama takes aim at Wall Street 'excess'Stock markets were under pressure on Friday morning after President Barack Obama's dramatic decision to call time on banks' risky trading practices.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 11:50 pm Venture capital investments decline in 4th qtrVenture capitalists invested less money in U.S. startups in the fourth quarter and showed signs of spreading out those fewer dollars among more companies, reflecting continued caution amid...Source: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 11:43 pm NZ market follows offshore markets downThe New Zealand sharemarket took a hit today, along with offshore markets, from plans to regulate United States banks but investors applauded a profit upgrade from Nuplex and the stock rose 5 per cent.The benchmark NZX-50 index...Source: nzherald.co.nz - Business | 21 Jan 2010 | 11:27 pm Toyota broadens massive U.S. safety recall (Reuters)Reuters - Toyota Motor Corp said on Thursday it will recall millions more vehicles in the United States, its second massive recall in four months, this time to fix potentially faulty accelerator pedals.Source: Yahoo! News: Business News | 21 Jan 2010 | 11:27 pm Bankers complain, but their party goes onDespite the harsh rhetoric, nothing has changed for the money men, argues Rory Bremner.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 11:21 pm Motorola offers Baidu search on China smartphonesMotorola said that China buyers of its Android-driven smartphones can opt for local search engine Baidu instead of Google, the Internet giant behind the mobile software platform. "Users...Source: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 11:14 pm Asia tracks US tumble after Obama bank proposalAsian stock markets tumbled Friday after President Barack Obama proposed a sweeping overhaul of Wall Street banks to avert future financial crises. Losses spread across most markets and...Source: RSS feed - channel BNewsBusiness | 21 Jan 2010 | 10:50 pm Morgan Stanley to raise capital for hedge fund clientsHONG KONG (Reuters) - Morgan Stanley has launched a new global initiative to raise capital for hedge fund clients in return for a fee, a company spokesman said.Source: Reuters: Business News | 21 Jan 2010 | 10:40 pm Google shows renewed vigor with robust 4Q results (AP)
Source: Yahoo! News: Business News | 21 Jan 2010 | 10:09 pm How Plan to Curb Banks Could Help Consumers (Consumer Action)Bank investors are panning Obama's proposals, but customers may find upside.
Source: SmartMoney.com | 21 Jan 2010 | 10:00 pm Toyota recalls 2.3 million cars in US over faulty accelerator pedalToyota's once sparkling reputation for quality and reliability suffered another splintering blow after the iconic Japanese automaker announced a recall of 2.3 million vehicles in the United States. Source: Latest Business News from Times Online | 21 Jan 2010 | 9:59 pm Govt doing nothing to stop unemployment - LabourLabour is accusing the National Government of doing nothing to prevent rising unemployment.Figures released today showed the number of people on the unemployment benefit rose 13 per cent last month, with 66,328 people receiving...Source: nzherald.co.nz - Business | 21 Jan 2010 | 9:41 pm Toyota in huge US safety recallThe carmaker has said it will recall millions more vehicles in the United States, its second massive recall in four months, after it acknowledged potentially dangerous acceleration problemsSource: Financial Times - US homepage | 21 Jan 2010 | 8:31 pm China reports brisk expansion, and rising prices, to close 2009The nation records its largest quarterly growth since the global economic crisis began. But there are troubling signs of inflationary pressure on food and other commodities.China's economy finished 2009 with a flourish, registering its greatest quarterly growth since the global financial crisis began more than two years ago.
Source: L.A. Times - Business | 21 Jan 2010 | 8:10 pm Obama hits Wall St, pushes for bank limitsWASHINGTON - Embracing 1930s Depression-era policy and populist politics, a combative President Barack Obama has chastised big Wall Street banks and urgently called for limits on their size and investments to stave off a new US economic...Source: nzherald.co.nz - Business | 21 Jan 2010 | 7:37 pm American Express, Capital One earnings beat forecastsNEW YORK/CHARLOTTE, North Carolina (Reuters) - American Express Co and Capital One Financial Corp both reported better than forecast fourth quarter earnings, but expressed concern about the growth outlook for credit cards.Source: Reuters: Business News | 21 Jan 2010 | 7:05 pm Google profits soar but share price sagsGoogle reeled in more internet advertising during the holiday shopping season and approached $US2 billion in quarterly profit for the first time, providing the strongest sign yet that internet search leader has shaken off the recession's...Source: nzherald.co.nz - Business | 21 Jan 2010 | 7:00 pm AMD revenue beats Street but shares slipSAN FRANCISCO (Reuters) - Advanced Micro Devices Inc reported better-than-expected revenue on strong holiday spending but its shares slid more than 4 percent as investors cashed in recent gains.Source: Reuters: Business News | 21 Jan 2010 | 6:42 pm GST hike would mean 2pc inflation hit, says Stats NZStatistics New Zealand says any hike of GST to 15 per cent - as suggested by the Government's tax working group this week - would increase inflationSource: nzherald.co.nz - Business | 21 Jan 2010 | 6:30 pm Obama threatens fight with banks on new risk rulesWASHINGTON (Reuters) - President Barack Obama threatened to fight Wall Street banks on Thursday with new proposals to limit financial risk taking, sending stocks and the dollar tumbling.Source: Reuters: Business News | 21 Jan 2010 | 5:54 pm Music industry blames huge illegal download market for ever-falling salesDigital piracy makes up 95pc of the global music download market, estimates a leading industry body.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 5:43 pm Obama hammers Wall Street banksThe global banking industry was thrown into turmoil after President Barack Obama moved to channel public rage over the financial crisis into the most far-reaching overhaul of Wall Street since the 1930sSource: Financial Times - US homepage | 21 Jan 2010 | 5:11 pm Another Toyota recall: 2.3 million carsToyota Motor Sales USA is recalling 2.3 million vehicles to correct a problem that could cause the vehicles' gas pedals to stick.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 5:03 pm Cross of GoldmanThe most eloquent American politician of a generation declared: “You shall not crucify mankind upon a cross of gold.” William Jennings Bryan, a future Democratic presidential nominee, issued his famous call to populist arms against the power of finance in 1896. That protest was echoed yesterday in President Obama’s declaration of readiness for a fight with Wall Street. Mr Obama wants to impose limits on the size of US banks and the amount of risk they can take. It is a judgment rooted more in short-term politics than in economic needs. If the fight is joined, it will be a battle of attrition in which both Mr Obama and the banks will be the losers. Source: Latest Business News from Times Online | 21 Jan 2010 | 5:02 pm Hillary Clinton throws gauntlet down to China over censorshipHillary Clinton has deepened a row over freedom of expression in China by warning Beijing that its alleged attack on Google would have “consequences” and comparing its censorship of the internet to the Berlin Wall. Source: Latest Business News from Times Online | 21 Jan 2010 | 5:01 pm Surely currency hedging is the Treasury's role?Let us assume that it is ineptness that has led the Foreign and Commonwealth Office to rein back a few plans to modernise Pakistan’s madrassas, and then to blurt that out through a jumble of messages from ministers. But actually, I cannot think of any better way for a Whitehall department to lobby for money than to warn that it is being forced to dump plans to counter radicalism in Pakistan. Source: Latest Business News from Times Online | 21 Jan 2010 | 5:01 pm Shadow Chancellor George Osborne told pay back mortgage overclaimDavid Cameron will attack Labour’s “moral failure” today as he attempts to put his portrayal of Britain as a broken society at the heart of the election battleground. Source: Latest Business News from Times Online | 21 Jan 2010 | 5:01 pm Brown under pressure as cuts ‘open Britain to crucible of terrorism’Gordon Brown faced mounting pressure last night to explain how a government decision over Foreign Office funding led to the slashing of millions of pounds from programmes to counter the growth of terrorism overseas. Source: Latest Business News from Times Online | 21 Jan 2010 | 5:01 pm Villa Maria in new deal with USVilla Maria, one of New Zealand's largest privately owned wineries, has signed an exclusive export deal with St. Michelle Wine Estates in the United States.The six-year export partnership will secureSource: nzherald.co.nz - Business | 21 Jan 2010 | 5:00 pm Fraud losses 'cost £30bn a year'Fraud - including scams, online theft, insurance cheats and tax fraud - costs the UK £30bn a year, an official estimate says.Source: BBC News | Business | World Edition | 21 Jan 2010 | 5:00 pm 2 ex-Ernst & Young partners sentenced to prison (AP)AP - Two former partners of the accounting firm Ernst & Young each have been sentenced in New York to more than two years in prison after they were convicted of criminal tax shelter charges.Source: Yahoo! News: Business News | 21 Jan 2010 | 4:51 pm How the major stock indexes fared on Thursday (AP)AP - President Barack Obama's plan to change the way big banks make their money plunged the stock market back into the fear and uncertainty that marked the financial crisis. Obama said Thursday he would ask Congress for limits on how big banks can become and to end some of the risky trades financial companies use to supercharge their earnings. Big bank stocks skidded and investors worried the plan would destabilize Wall Street's 10-month rally.Source: Yahoo! News: Stock Markets News | 21 Jan 2010 | 4:50 pm Stocks slide as Obama calls for tougher bank rules (AP)
Source: Yahoo! News: Stock Markets News | 21 Jan 2010 | 4:45 pm Goldman trims pay, posts profit as shares fallNEW YORK (Reuters) - Goldman Sachs Group Inc , under fire for gold-plated pay packages, cut average pay per employee by about a quarter from record 2007 levels, helping boost its profit to a record.Source: Reuters: Business News | 21 Jan 2010 | 4:42 pm Buffett's new baby BNSF beats Wall StCHICAGO (Reuters) - Burlington Northern Santa Fe Corp, the No. 2 U.S. railroad, posted stronger-than-expected earnings on Thursday, lifted by improving volumes, and the company said it expected the freight recovery to continue in 2010.Source: Reuters: Business News | 21 Jan 2010 | 4:32 pm Banks reel from Barack Obama's '$30bn speech'Shortly after 11.30am President Obama strode into the White House's diplomatic reception room. Two minutes later $30bn had been wiped off the value of America's top shares.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 4:31 pm Kiwi dollar keeps fallingThe New Zealand dollar sank for the second day after US President Barack Obama flagged more regulations for banks' trading operations, driving down shares and sapping demand for riskier, or higher-yielding assets.President Obama...Source: nzherald.co.nz - Business | 21 Jan 2010 | 4:30 pm Even your Chihuahua can tweetSocial networking is going to the dogs.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 4:24 pm UGI Raised to `Buy' at Citigroup: AudioSource: Bloomberg - All Podcasts | 21 Jan 2010 | 4:15 pm Grand Central could take legal action over East Coast train timetableGrand Central, Britain's only independent train operator, is ready to challenge the overhaul of the east coast main line timetable announced by Lord Adonis, the Transport Secretary.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 4:13 pm Air America going darkLiberal talk radio network Air America is planning to file for Chapter 7 bankruptcy, the company said Thursday.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 4:12 pm Google's slam dunk quarterGoogle reported quarterly sales Thursday that returned to double-digit growth for the first time in a year on the back of a rebounding advertising market.Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 4:00 pm Thousands queue for 150 jobsMost of the jobs were offering low pay and many had unsociable hours, but the applicants turned up in their thousands.The 2500 people who yesterday waited up to seven hours to apply for one of 150 jobs at a new South Auckland...Source: nzherald.co.nz - Business | 21 Jan 2010 | 4:00 pm NZ shares follow US, Europe downAn 8 per cent rise in Nuplex stocks, following a profit upgrade after the market closed yesterday, could not prevent the New Zealand sharemarket tumbling in early trading, in the wake of falling share prices in the United States and...Source: nzherald.co.nz - Business | 21 Jan 2010 | 3:59 pm Toyota recalls 2.3m US vehiclesToyota is recalling 2.3 million cars in the US to correct sticking accelerator pedals, just the latest in a string of recalls.Source: BBC News | Business | World Edition | 21 Jan 2010 | 3:57 pm Obama's bold move on banks begins to justify the hype of his electionYesterday's declaration of war on Wall Street will have given Barack Obama's presidency a shot in the arm and a boost in the polls.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Jan 2010 | 3:53 pm Haiti contributions deductible for 2009 taxesThe Senate unanimously passed legislation Thursday 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 | 3:52 pm IRD targets 300 property investorsAbout 300 property investors are in Inland Revenue's sights for allegedly dodging taxes.IRD earlier identified 2000 as failing to pay $214 million in property tax over the past four years, The Dominion-Post reported.Inland...Source: nzherald.co.nz - Business | 21 Jan 2010 | 3:30 pm Write-Offs: 01.21.10$$$ Robert W. Baird & Co. has a "no asshole" policy. Do you? [Fortune] $$$ Plainfield Hedgies are Spending Lots of Time in their New Gym [GT] $$$ From the mailbag: "The portion of JPM bonuses that were paid in stock priced yesterday. So today's move down in financials (and 7 percent move in JPM stock price) means everyones deferred comp is immediately 7 pc lower on day one. Plus the previously-deferred comp that vests this year doesn't price until next week. Banks that reported and handed out bonus numbers later (GS, BAC, etc) probably haven't priced their deferred comp stock price yet. Not a huge deal in the long run but when you're 25 or more pc stock it still sucks when others aren't taking the same haircut. Thanks for choosing TODAY to speak, Mr President..." $$$ Cravath's Jebejian on Obama's bank plan [The Deal] 
 Source: Dealbreaker | 21 Jan 2010 | 3:28 pm NBC pays Conan to go; Leno back to 'Tonight'Conan O'Brien and NBC reached a deal Thursday to terminate the comedian's contract just seven months after he was named host of "The Tonight Show."Source: Business and financial news - CNNMoney.com | 21 Jan 2010 | 3:25 pm Google sees revenues rise 17%Google's latest quarterly revenues rise strongly on the back of higher advertising earnings, but disappoint the market.Source: BBC News | Business | World Edition | 21 Jan 2010 | 3:13 pm SLM, Blockbuster, eBay, JPMorgan Chase are movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 21 Jan 2010 | 3:08 pm AMD Mixed Show (AMD, INTC)Advanced Micro Devices Inc. (NYSE: AMD) moved after the company beat earnings expectations. The distant #2 PC processor posted earnings of -$0.05 in non-GAAP EPS as revenues rose over 40% to $1.65 billion in revenues. Thomson Reuters had estimates at -$0.18 EPS and $1.49 billion in revenues. This figure excludes a monumental figure of a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 3:01 pm Barney Frank Wants Obama Plan Done Nice And Slow
Source: Dealbreaker | 21 Jan 2010 | 2:50 pm Toyota… Another Recall (TM)Toyota Motor Corp. (NYSE: TM) may have been the most revered auto company of the world for reliability, but recall issues are making this company sound more and more like a Detroit auto company every day. Today, the company has just announced a new recall of a total of 2.3 million vehicles, and this is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 2:40 pm Sector Snap: Coal stocks tumble (AP)AP - Concerns about China taking measures to slow down its economy and a broader market slide sent shares of coal stocks tumbling Thursday. An analyst also downgraded many big names in the industry, warning that the sector is increasingly being threatened by the growing popularity of rival energy sources like inexpensive natural gas.Source: Yahoo! News: Stock Markets News | 21 Jan 2010 | 2:30 pm Buffett Has The AnswerWatch the latest business video at video.foxbusiness.com
Source: Dealbreaker | 21 Jan 2010 | 2:29 pm Google, When Great Isn’t Enough (GOOG)Google Inc. (NASDAQ: GOOG) reported earnings of $6.79 EPS on revenues of $4.95 billion in revenues. Thomson Reuters has estimates for the online search leader at $6.50 EPS and $4.92 billion in revenues. The net revenues before taking out the traffic acquisition costs were $6.67 billion. That puts traffic acquisition costs at $1.72 billion, or [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 2:18 pm Loch Capital Investors Pull Money Due To Founders' Friendship With Known Insider TraderMatthew Goldstein and Svea Herbst-Bayliss report that Boston-based Loch Capital Management has been "hit hard" by redemptions since the friend, Steven Fortuna, of founders (and bros) Timothy and Todd McSweeney pleaded guilty to insider trading, and agreed to cooperate with the government re: perhaps ratting out cohorts. It doesn't appear that Fortuna and the McSweeneys have ever worked together but the trio go way back (born, raised, continue to live in Massachusetts, all played basketball together, and get their drink on every now and then) so obviously The Tuna could potentially have dirt. Though some investors told the reporters the reason behind the redemptions is the relationship between the the admitted criminal and their managers, Reuters notes that the requests "may be nothing more than an overreaction based on speculation" or simply "an indication of just how nervous hedge fund investors remain a year after the Bernard Madoff scandal left a lot of investors looking foolish." Neither brother (nor any of their employees) has been charged with any wrongdoing, but they are telling anyone looking to poke around to piss off, ASAP:
Source: Dealbreaker | 21 Jan 2010 | 2:08 pm Q&A: Bank curbsHow banking could change under Obama's planSource: BBC News | Business | World Edition | 21 Jan 2010 | 1:56 pm A declaration of war on Wall StreetOn the day Goldman Sachs announced fourth-quarter earnings of $4.95bn, the president set out broad new measures on financial regulation, the most significant of which is a radical shift – and a mistakeSource: Financial Times - US homepage | 21 Jan 2010 | 1:09 pm Survey Indicates Strong Demand For Apple Tablet (AAPL)On January 27th Apple intends to reveal its”latest creation” to the world. While there has been no official confirmation, it is widely rumored to be a new Apple tablet device, often called the iSlate. Analysts anticipate the tablet to be a device with a 10 to 11 inch screen with a touch interface similar 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 | 1:04 pm More Pay Challenges at Fannie & Freddie (FNM, FRE)Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) may finally be getting some added pay regulation. After regulators and politicians have gone after Wall Street compensation, House Republicans have introduced a bill to significantly cut the pay packages for senior executives at the two government sponsored entities under government conservatorship. We are still awaiting [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 12:56 pm The Obama Proposal
My resolve to reform the system is only strengthened when I see a return to old practices at some of the very firms fighting reform. So if these folks want a fight, it's a fight I'm ready to have. The most stringent aspect -and what, unsurprisingly, is making Wall Street crazy angry- is the banning of prop desks at banks. The so-called Volcker Rule ("after this tall guy behind me") will no longer allow banks to own, invest or sponsor hedge funds, private equity funds or proprietary trading operations.
Source: Dealbreaker | 21 Jan 2010 | 12:49 pm Goldman Sachs Appears To Have Been Quasi-Worried About Earnings ReactionsThe Post reports that God's minions were so nervous about how people-- the kind who throw bricks through windows, set off bombs, etc-- would react to the news that they earned $5 billion in the fourth quarter that the bank brought in extra security as a precautionary measure. So scared (!!) Lloyd was that he brought in an entire carload of NYPD officers (FYI, that's anywhere between 1 and 4 guys, which on the high end would be a lot), a bunch of barricades, and one dog who was last seen "running laps" around the building. Let's take a closer look at the scene:
Source: Dealbreaker | 21 Jan 2010 | 12:45 pm The ‘Volcker Rule’ as a modern-day Glass-SteagallHistory suggests that a reform along the lines of the Volcker rule could help shake world markets from their extreme tendency for booms and busts, writes John AuthersSource: Financial Times - US homepage | 21 Jan 2010 | 12:44 pm New ETFs Track Platinum, Palladium: AudioSource: Bloomberg - All Podcasts | 21 Jan 2010 | 12:30 pm Cher sells piece of paradise for $8.7 millionSource: Business and financial news - CNNMoney.com | 21 Jan 2010 | 12:27 pm Goldman shrinks its bonus poolGoldman Sachs sought to counter the public furore over pay by shrinking the portion of revenue set aside for compensation to its lowest level since the bank went public in 1999 and giving more money to charitySource: Financial Times - US homepage | 21 Jan 2010 | 12:08 pm Pelosi admits setback in US health reformThe Obama administration’s prospects for passing healthcare reform legislation grew significantly bleaker when Nancy Pelosi, speaker of the House of Representatives, said she could not muster the votes needed to pass the Senate plan through the lower chamberSource: Financial Times - US homepage | 21 Jan 2010 | 11:27 am Union weighs health benefits, costsWhen it comes to health care, do people value what they don't pay for? Gregory Warner reports on a union that had to face just that issue.Source: Marketplace | 21 Jan 2010 | 11:15 am When change is hard, blame inertiaIf you're having a difficult time keeping up with your well-intentioned New Year's resolutions, don't worry. Commentator K.C. Cole says you have science on your side.Source: Marketplace | 21 Jan 2010 | 11:15 am Concerns over soda lead to shrinkingCoca Cola has been testing a smaller, 7.5-ounce can in New York and Washington D.C. amid worries about the unhealthy effects of soda. Sally Herships reports.Source: Marketplace | 21 Jan 2010 | 11:15 am What's driving Goldman's earnings?New York bureau chief Amy Scott talks with Kai Ryssdal about how Goldman Sachs made around $5 billion in profits last quarter, and what's going on with its executive compensation.Source: Marketplace | 21 Jan 2010 | 11:15 am Obama seeks to limit banks' size, riskPresident Obama is proposing new regulations that would restrict the size of banks and proprietary trading. Alisa Roth reports.Source: Marketplace | 21 Jan 2010 | 11:15 am How ruling affects campaign spendingSlate's legal correspondent Dahlia Lithwick talks with Kai Ryssdal about how the Supreme Court's decision will change political campaigns, and how it will affect corporate America.Source: Marketplace | 21 Jan 2010 | 11:14 am Ruling changes campaign finance lawIn a 5-4 decision, the U.S. Supreme Court has decided to abolish limits on corporate spending in national political races. Brett Neely reports.Source: Marketplace | 21 Jan 2010 | 11:14 am Presented By:Source: Dealbreaker | 21 Jan 2010 | 10:40 am Ace Greenberg On Eggs, And TaxesAce "I give away Viagra" Greenberg came out of his silence today to support Lloyd & Co. (well, mostly Lloyd) who have been unfairly attacked for no valid reasons. People just don't understand that the banking world needs superstars that need to be very well compensated and that the industry (GS) has been doing a very fine job, thank you very much, so stop harassing them. "You don't win the World Series and not have A-Rod" he said in a CNBC interview. Ace also argued that banks were forced to take the TARP money and that Obama's proposed bank tax is just "unfair, unwarranted and unprecedented." On the potential Glass-Steagall resurrection, Ace had just one thing to say: "The egg has been scrambled and I don't think they can put it back in the shell."
Source: Dealbreaker | 21 Jan 2010 | 10:40 am Wharton Students Will Have Their Annual Ski Trip, Damn It!Regular Dealbreaker readers know that we spend a lot of time around these parts having the CFA v. MBA debate (well, not me, but some of you, amongst yourselves, in the comments, losing your shit). Today brings a point in favor of the b-school track, courtesy of Wharton. Apparently a bit of disagreement has been brewing between a group of students and the administration, re: whether or not the future business leaders of the world should be allowed to skip class in order to go on a ski trip to Park City. The administration says no, they shouldn't, because it reflects disrespect for academic commitments, is discouraging to the faculty, creates a divide among the students going Wharton brand if this sort of thing go out to a) the rest of the Penn campus and b) the outside world in general. Obviously, the students wanting so badly to go on this trip saw things a bit differently and a dialogue ensued. For those of you who, after reading the full back and forth after the jump, would challenge the assertion that this case reflects a point for the MBA track rather than the CFA, I would ask you to show me the CFA program where you're afforded the opportunity and downtime to say and draft stuff like: * "The trip in no way takes away from Wharton's rigorous analytical MBA program" * "I honestly can't think of a more rigorous or more analytical MBA program than Wharton's." * "I am told that seasoned Wharton professors typically earn $250K or more per year. It would be nice if anyone in the administration held professors accountable for teaching quality." * "How can it be hard to defend the Wharton brand on the Penn campus when the Wharton brand is far more prestigious? Penn should be defending itself to us!"
Source: Dealbreaker | 21 Jan 2010 | 10:33 am Wealth Distribution in the United StatesFinancially speaking, there is a great inequality in the United States. Over the last 30 years, while the rich have been getting richer, the poor have been getting steadily poorer. One reason for the growing disparity between the rich and the poor is the fact that most new jobs that are created pay low wages and often do not offer retirement plans or health coverage. Here is a graphic look at the widening gap between the nation’s rich and poor.
Click to Enlarge
Source: Business Pundit | 21 Jan 2010 | 10:20 am Intended Consequences: Design the Future You Wish to Create (Book Review)
Global water shortages. A cashless society. Massive national debt. Higher taxes. The next decade doesn’t look too rosy, does it? It also doesn’t look business-friendly—unless you know how to increase your chances of success. Your success, according to consultant and author Marc Emmer, hinges on effective strategy and execution. In his new book, Intended Consequences: Designing the Future You Want to Create, Emmer helps you devise a strategy to bust through modern pitfalls like hypercompetition and commoditization. By creating an all-encompassing strategy and success measurement system, you can pave the way for competitive advantage over the next decade. Emmer guides you through the steps involved in both creating a winning strategy and a unique selling proposition for your company. At the end of the book, you have an understanding of why strategy and differentiation are crucial in today’s business environment, how to create them, and how to continue to measure your success. Content Emmer’s first chapters, which you can breeze through, describe of the human nature and the current economy. Emmer reminds readers that humans are myopic, biased, pattern-seeking individuals—and that comes with limitations. Companies themselves are subject to collecting myopia and herding and internal focus. To compensate for these intrinsic weaknesses, Emmer tells you how to do a scenario planning (STEEP) exercise, as well as create a Futures map. A STEEP exercise is a tool considering how social, technological, economic, ecological and political factors may affect a business in the future. A Futures map is an illustration of a scenario and is a tool for explaining the company’s vision of the future. In following chapters, the book introduces the concept of strategic planning. It describes how a company should use it to build its indicators, goals, and manage performance. Next, the book details the three ways in which successful companies can be defined in today’s hypercompetitive business environment. Emmer shares how companies should set expectations based on those success factors. After that, you learn how customers behave in a hypercompetitive market, and how marketers can effectively react to today’s consumers’ expectations. Emmer shares specific tips on creating points of brand differentiation. Finally, he tells you how to manage your marketing efforts, measure your product’s success, sell correctly for the environment, and organize customer information most effectively. The next chapter details how to hold, organize, and manage a successful strategic planning meeting. It tells you how to use scorecarding to gather business intelligence and create alignment between a company’s strategy and its staff. In the book’s final chapters, Emmer talks about being a best-in-class employer, how it works, and why you need to do it. He covers how to manage employee incentives and create successful pay-for-performance metrics. He closes with a simple business mantra: Be intentional. That is key. Analysis I don’t usually use “strategy” and “fun” in the same sentence, but Emmer’s book on strategy is fun to read. His initial chapters offer a refreshing take on the pitfalls of the modern era and human behavior. From Chapter 6 onward, Emmer seems to hit his literary stride. The book takes on a pleasing conversational tone, recounting Emmer’s personal experiences and making jokes and jabs about familiar companies. Some of his tips, like only competing on cost if you have the size to do so, are basic business tenets. The author, however, does a good job of mixing these old adages with strategy-specific concepts, real-life company examples, and definitions. The net result is a pleasing and comprehensible blend of ideas. Emmer’s clear style makes even the more complex concepts easy to follow. His confidence in his strategy and execution tools is contagious. Accept all the possibilities, know how to secure competitive advantage, and even the post-financial crisis world can be your oyster. Overall, the book left me with an upbeat sense of control. I recommend it for anyone wanting ideas on how to build an effective business strategy in tumultuous economic conditions. Disclosure: We were sent a free copy of this book.
Source: Business Pundit | 21 Jan 2010 | 10:16 am US Supreme Court lifts campaign finance limitsIn a sweeping decision that will change the face of the 2010 US mid-term election and beyond, the Supreme Court ruled in a 5-4 decision to lift limits on corporate spending in campaignsSource: Financial Times - US homepage | 21 Jan 2010 | 10:08 am 360-Degree Review of Google Earnings (GOOG)Google Inc. (NASDAQ: GOOG) is on deck for earnings this afternoon after the closing bell. Thomson Reuters has estimates at $6.50 EPS and $4.92 billion in revenues. Those estimates were just $6.43 EPS and $4.89 billion in revenues over the weekend, and those figures have gradually crept higher higher in recent weeks. As a reminder [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Jan 2010 | 10:00 am Nouriel Roubini Still Gloomy
"If I'm correct, by the second half of the year there's going to be a slowdown of growth in the US, Europe and Japan. That could be the beginning of a market correction because the macroeconomic news is going to surprise on the downside."
Source: Dealbreaker | 21 Jan 2010 | 9:45 am Fortune Releases This Year’s Fortune 100 Best Companies to Work ForFortune Magazine has released its coveted Fortune 100 Best Companies to Work For list. Here are this year’s top 20: 1 SAS Software company SAS may also boast the CEO with the coolest name: Dr. Jim Goodnight. See the full list here.
Source: Business Pundit | 21 Jan 2010 | 9:29 am Mini Cooper Countryman: The Ultimate Post-Hummer Era SUV
Mini has released an SUV (or crossover utility vehicle–CUV–to be exact) called the Countryman. This four-door Mini on steroids hits spot for the post-Hummer SUV era, comprised of drivers chagrined at fuel inefficiency, but who still want the safe, fun perspective an SUV offers. Driving Sports reports: The Countryman will be the first model in the MINI family with four doors. The Countryman will also feature a “slightly elevated” seating position, and optimized driving comfort. In other words, mommies (AKA CUV buyers) are going to love it because it’s car-seat friendly and gives them the “up-high” perspective they loved about their GMC Yukon, but with better gas mileage. The more interesting features include the optional MINI ALL4 all wheel drive and 184 horsepower in the Cooper S Countryman. The latest 1.6-litre four-cylinder S engine comes with a twin-scroll turbocharger and direct fuel injection, and also fully variable valve management. The Countryman also includes optional Brake Energy Regeneration, Auto Start Stop, a gearshift point indicator, and on-demand management of the engine’s ancillary units. The standard Getrag six-speed manual gearbox is featured as standard, but you can also get your Countryman with a six-speed automatic, complete with Steptronic paddle shifting. The new ALL4 all-wheel drive system is an electronically controlled hydraulic center differential positioned directly on the final drive, capable of varying the distribution from front to rear in an infinite process. Under normal driving conditions up to 50 per cent of the engine’s power goes to the rear wheels, under extreme conditions the split can go up to 100 per cent. The Countryman also has an electronic limited-slip function for the front axle differential. P90055099_lowResThe Countryman comes with standard Dynamic Stability Control, with Dynamic Traction Control coming either as an option or as a standard feature on the MINI Cooper S Countryman. I bet Mini has a good shot at the domestic market with its Countryman, assuming there’s still a price-elastic consumer base to be had here. I can also see this taking off in certain other countries. It’s good to finally see more innovation in the auto industry.
Source: Business Pundit | 21 Jan 2010 | 9:24 am Goldman Sachs has golden fourth quarter with $4.78 billion in profitsThe storied investment bank wallops the $5.25-a-share estimate of analysts with earnings of $8.20 a share, mainly by reducing the amount it set aside for employee compensation.Goldman Sachs Group Inc. beat the rosy estimates of analysts in the fourth quarter largely by pulling back on the amount it will be giving to its employees.
Source: L.A. Times - Business | 21 Jan 2010 | 9:15 am Goldman Sachs Earnings: $13.4bn for 2009; Compensation: $16.2bn
Goldman Sachs reported “better than expected” 2009 earnings today. That translates to $13.4 billion for 2009, and $16.2 billion in compensation, mostly for year-end bonuses. The Washington Post has details: The compensation pool — which includes salary and benefits but is largely for year-end bonuses — translates to an average payout of $498,000 per employee, although rainmaker traders and bankers will earn millions. The average pay amount is up 37 percent from 2008, although lower than the pre-crisis level in 2007. Compensation at large banks has been under intense public scrutiny as the country struggles with double-digit unemployment rate in the wake of an economic crisis that many lawmakers contend was fanned by excessive risk-taking on Wall Street. That the average Goldman employee will pocket half a million dollars is sure to draw additional fire, and the firm sought to play down the figure. Goldman noted that its compensation pool represented 36 percent of its revenue, the lowest ratio since it became a public company in 1999. Last year, Goldman set aside 49 percent of its revenue for compensation and benefits, which is typical for the industry. During the first three quarters of the year, Goldman had accrued $16.7 billion in its compensation pool, setting it on track to pay out bonuses that would have rivaled payouts in 2007. But in a reversal, it took out $519 million from the compensation funds in the final three months of the year. In December, as public criticism mounted over expected payouts, Goldman announced it was contributing $500 million to charitable and small business initiatives. Goldman also said its top 30 executives would be paid 2009 bonuses fully in restricted shares, not cash. I don’t see how anyone can claim official “expectations” for Goldman Sachs anymore. They’re backpedaling because of bad PR, and probably government pressure. Moreover, they made 2/3 of their revenues from trading (GS is rumored to manipulate markets). No big financial firm should be beholden to anything resembling normal expectations right now, especially not Goldman Sachs. Zero Hedge breaks it down: …employee compensation accrual…went down from an annualized accrual of $20 billion previously to $16.193 billion for FYE 2009. In fact in Q4, Goldman reported a negative expense to compensation and benefits of ($519) million compared to $5.351 billion in Q3. Did Rahm have some tete-a-tetes with Lloyd recently? Despite making investors happy, I don’t think Blankfein’s PR-improvement push is working very well.
Source: Business Pundit | 21 Jan 2010 | 9:08 am Ruskin Sees Greek Fiscal Problems Affecting Currencies: AudioSource: Bloomberg - All Podcasts | 21 Jan 2010 | 8:35 am Levitt Says Limits on Trading a Good Idea in Theory: AudioSource: Bloomberg - All Podcasts | 21 Jan 2010 | 8:34 am Author Cohan Says Goldman Sachs Earnings `Breath Taking': AudioSource: Bloomberg - All Podcasts | 21 Jan 2010 | 8:33 am Yahoo!, Health Care, Buffalo Wild Wings: Taking Stock PodcastSource: Bloomberg - All Podcasts | 21 Jan 2010 | 7:56 am Morning Report: The Battle Begins Over The Size Of BanksLater today, President Obama is expected to announce a radical new approach to the regulation of very large banks. In short, he's adopting the approach Paul Volcker has been calling for. There will be some sort of limit imposed on the size of banks and banks will not be able to make bets with their own deposits as freely as they have been. We are obsessively reading everything we can about the announcement. Alex is sitting next to me trying to reach someone on Volcker's advisory team and some proprietary traders at big banks, to understand better what they do and what these changes will mean. We don't know how much we'll learn at today's announcement. I'll say that, after a couple years of covering this, it is way, way, way too early to have any sense of what this means. Remember: most of what the President will propose has to go through Congress. And Congress has not shown much willingness to take on the hardest questions in bank regulation. It seemed clear, before today, that the political status quo was something like this: there is a broad desire in America for serious bank reform but just about nobody knows what that would mean. So, Congress has been able to talk tough and legislate softly. Has the basic politics changed? Has the public become more angry? Have the pro-consumer activists become more organized? Did Paul Volcker simply convince the President? Or will this be more tough talk followed by mild tweaks? As with everything to do with banking law, minor tweaks in legislative language can mean the difference between something that causes real pain to banks and something that helps them make more money. Right now: we're mostly just scratching our heads and eagerly waiting to hear the details. Other things going on here: I just finished a story for This American Life that will air this weekend (probably) about the very cool history of underwater archaeology and a man who spent his entire life studying one Byzantine shipwreck. Chana and David are in Kansas City looking into buying a toxic asset. Alex is hard at work on a very cool story about the inner-workings of banks during the crisis. We are all studying Haiti. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 21 Jan 2010 | 7:51 am Hubbard, Duggan Favor New Marshall Plan for Poor Nations: AudioSource: Bloomberg - All Podcasts | 21 Jan 2010 | 7:35 am Furness on Dollar, Magnus on Greek Debt: AudioSource: Bloomberg - All Podcasts | 21 Jan 2010 | 7:34 am One Sign it’s Not the Great Depression All Over AgainMen aren’t writing to postmasters wanting women’s jobs:
Source: Contexts.org.
Source: Business Pundit | 21 Jan 2010 | 4:40 am Obama proposes tough new restrictions for banksThe president essentially seeks a return to rules, repealed in 1999, that prevented bank holding companies from owning both commercial banks and Wall Street investment firms.Taking aim at what he called Wall Street's "huge, reckless risks in pursuit of quick profits and massive bonuses," President Obama today proposed the toughest new restrictions yet on the nation's largest banks in the aftermath of the financial crisis.
Source: L.A. Times - Business | 21 Jan 2010 | 1:50 am
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