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GM to invest in electric motorsGM announces plans to invest $246m in the production of electric motors to power electric and hybrid vehicles.Source: BBC News | Business | World Edition | 26 Jan 2010 | 3:33 am Germany's Ifo business climate index rises furtherA closely watched indicator of German business sentiment rises more than expected in January.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 3:31 am UK economy out of recessionThe UK economy leaves recession, after figures show the economy grew by 0.1% in the last three months of 2009.Source: BBC News | Business | World Edition | 26 Jan 2010 | 3:23 am Bank of Japan holds policy steady as expectedThe Bank of Japan keeps its policy rate unchanged at 0.1%, as widely expected, and maintains its overall economic assessment, though revising its outlook on deflation.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 3:18 am Britain exits recession: economists reactBritain has today joined the list of countries out of recession. But the 0.1pc growth was weaker than expected, and economists give their reaction.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 3:15 am Davos: Gas-guzzlers must be checked at the gateBankers attending the World Economic Forum (WEF) at Davos this week may have braced themselves for significant disapproval over bonuses, but few would have expected to have the green credentials of their limousines checked at the gates. Source: Latest Business News from Times Online | 26 Jan 2010 | 3:14 am Stocks poised to pull backU.S. stocks were poised for a lower open Tuesday, amid concerns of a slowdown in China and ahead of the start of a two-day Federal Reserve meeting.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 3:13 am Clinton Gathering Trumps DavosThe World Economic Forum at Davos has been losing its cache of a few years. It was hurt badly by the recession. CEOs were reluctant to be seen flying their private jets to Switzerland to rub shoulders with world leaders and celebrities. It turns out the American senior executives find the most useful conference they can attend is closer to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 3:10 am Mortgage approvals 'on the rise'The number of mortgages approved for house purchases rose at the end of the year, figures from UK banks show.Source: BBC News | Business | World Edition | 26 Jan 2010 | 3:10 am Britain exits recession, last G7 nation to do soIts economy grew only 0.1% in the fourth quarter, less than forecast.Britain's economy resumed growth by less than economists forecast in the fourth quarter, but service industries and manufacturing expanded just enough to pull Britain out of its longest recession on record.
Source: L.A. Times - Business | 26 Jan 2010 | 3:10 am Stock futures point to lower open on Wall Street (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 3:08 am Stock futures point to lower open on Wall Street(Reuters) - Stock index futures pointed to a lower opening on Wall Street on Wednesday, following declines in Asia after China implemented an increase in higher reserve requirements for...Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 3:08 am Stock futures point to lower open on Wall Street(Reuters) - Stock index futures pointed to a lower opening on Wall Street on Wednesday, following declines in Asia after China implemented an increase in higher reserve requirements for some lenders.Source: Reuters: Business News | 26 Jan 2010 | 3:08 am Economic Report: U.K. edges out of recession in fourth quarterThe U.K. economy just squeaked back into growth in the fourth quarter of 2009 following the country’s worst recession in more than 50 years.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 3:06 am Currencies: Dollar climbs vs. Europe rivals in volatile tradeThe dollar beats up on its European rivals, but drops against the Japanese yen on Tuesday, amid volatile currency markets in the wake of news that Japan's sovereign debt rating is in jeopardy and that the U.K. economy barely escaped recession during the fourth quarter.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 3:04 am Europe Markets: European shares down for fifth straight dayEuropean shares extended losses into a fifth session on Tuesday, as losses for miners amid worries over Japan’s fiscal health and lackluster growth from the U.K. economy offset better-than-expected earnings from Siemens and Novartis.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 3:04 am Recession over?Is the UK now OK or could there be surprises to come?Source: BBC News | Business | World Edition | 26 Jan 2010 | 3:03 am GM to invest $246 mln in electric motors (AFP)
Source: Yahoo! News: Business News | 26 Jan 2010 | 3:01 am Buffett takes stake in Munich Re (AP)AP - U.S. investor Warren Buffet holds just over 3 percent of leading reinsurer Munich Re AG, the German company said Tuesday.Source: Yahoo! News: Business News | 26 Jan 2010 | 3:01 am Recession over: UK posts 0.1 pct growth in Q4 (AP)AP - Britain's worst recession since World War II is over, official statistics confirmed Tuesday, but the economy remains in the recovery room after managing only feeble growth of 0.1 percent in the fourth quarter.Source: Yahoo! News: Business News | 26 Jan 2010 | 2:57 am China hikes banks' reserves, curbs loans: reportsChina’s central bank singles out several large Chinese banks and requires them to raise their reserve ratios for excessive lending, while also asking some not to issue new loans, according to reports Tuesday, suggesting the government is taking steps to cool the red-hot pace of the nation's loan growth.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 2:56 am China lending clampdown weighs on global stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 2:55 am China lending clampdown weighs on global stocksLONDON (Reuters) - Standard & Poor's cut its rating outlook on Japan on Tuesday and China implemented a clampdown on lending, hitting investor confidence about global economic recovery.Source: Reuters: Business News | 26 Jan 2010 | 2:55 am China tightening fears boost havensGlobal Markets Overview: Application of a previously announced directive on banks’ reservers sends stocks slide to five-week lows and hurts commodities, but boosts bonds, the yen and the dollarSource: Financial Times - US homepage | 26 Jan 2010 | 2:53 am Past recessions haunt stimulus debateCongress will soon spar over how to spur jobs.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 2:50 am Apple: iPhone sales double in record quarterApple Inc. reported another strong quarter Monday on the back of its current product lineup, including iPhones and Macintosh computers, as the company gears up for its widely anticipated announcement of a new tablet computer on Wednesday.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 2:48 am London Markets: British shares down, U.K. scrapes out of recessionBritish shares were weak on Tuesday, down for the fifth straight session, as worries about the health of Japan weighed as the U.K. economy barely exited one of its longest recessions on record.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 2:47 am Actinver Selects Misys BankFusion Universal Banking to Support its Aim to be the Best Financial Services Company in MexicoSource: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 2:46 am Toyota plans to sell 8.27 million vehicles (AP)
Source: Yahoo! News: Business News | 26 Jan 2010 | 2:45 am Across the mapSnapshots of how the UK economy is coping nowSource: BBC News | Business | World Edition | 26 Jan 2010 | 2:43 am Novartis names new CEO as profit jumps 50%Novartis on Tuesday promotes the head of its pharmaceutical unit to chief executive as the Swiss drugmaker reports a 50% profit rise in the fourth quarter, helped by demand for cancer and blood pressure drugs and pandemic flu vaccines.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 2:43 am Siemens profit up 23% on aggressive cost cuttingSiemens AG said Tuesday its fiscal first-quarter profit jumped 23% as the German industrial conglomerate cut costs, offsetting a decline in revenue amid ongoing weak demand for its products.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 2:34 am S&P threatens to cut Japan's rating over soaring debtTOKYO (Reuters) - Standard and Poor's on Tuesday threatened to cut Japan's rating unless it produced a credible plan to rein in its soaring debt and lift growth in an economy plagued by...Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 2:33 am S&P threatens to cut Japan's rating over soaring debtTOKYO (Reuters) - Standard and Poor's on Tuesday threatened to cut Japan's rating unless it produced a credible plan to rein in its soaring debt and lift growth in an economy plagued by persistent deflation.Source: Reuters: Business News | 26 Jan 2010 | 2:33 am Britain is out of recession at last - but are you?While the nation's output grew in the final quarter of last year, many people will be wondering whether their own finances are actually in better shape.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 2:33 am Britain exits longest recession on record – justBritain emerged from the longest recession in modern history today, but the economy grew by only 0.1 per cent between October and December, far below expectations of a 0.4 per cent rebound. Source: Latest Business News from Times Online | 26 Jan 2010 | 2:32 am Britain exits worst recession in decadesThe British economy pulls out of recession with growth lower than expected, casting doubt over the strength of a possible recovery.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 2:31 am Asia markets skid again on China tightening fearsMajor Asian stock markets end sharply lower Tuesday, with Chinese shares dropping further in Hong Kong and Shanghai amid worries about possible limits on bank lending.
Source: MarketWatch.com - Top Stories | 26 Jan 2010 | 2:19 am Shares to benefit from the recoveryAs the British economy is about to declared out of recession, which shares are set to benefit? We asked some leading stockbrokers for their tips.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 2:17 am China tightening fears boost havens09:10 GMT. Another twist of China's monetary garrotte tortured traders on Tuesday, prompting a switch out of riskier assets and into perceived havens. The application of a previously announced...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 2:17 am China tightening fears spook investors, hit stocksSHANGHAI (Reuters) - China implemented a planned increase in required reserves for some banks on Tuesday, sources said, sparking knee-jerk selling of Asian stocks which underscored how sensitive global investors are to Beijing's tightening of monetary policy.Source: Reuters: Business News | 26 Jan 2010 | 2:16 am Clueless about oil pricesTwo very different views on where oil prices are going by the year's end are emerging - one says $60 or lower, the other $100 or higher, and there's little consensus as to which is right.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 2:10 am World stock markets sink amid growth doubtsWorld stock markets slid Tuesday as China's lending curbs and slower growth in South Korea added to worries the global recovery will sputter once stimulus spending fades. Major...Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 2:06 am World stock markets sink amid growth doubts (AP)
Source: Yahoo! News: Business News | 26 Jan 2010 | 2:06 am World stock markets sink amid growth doubts (AP)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 2:06 am New rules over mortgage arrearsNew rules to protect mortgage holders who are in arrears have been proposed by the Financial Services Authority.Source: BBC News | Business | World Edition | 26 Jan 2010 | 2:04 am FTSE slides at the open (AFP)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 2:04 am Probe launched into AIG bail-outThe US bail-out watchdog announces two investigations into the government's rescue of insurance firm AIG.Source: BBC News | Business | World Edition | 26 Jan 2010 | 2:03 am London shares weaker ahead of GDP dataLondon equities continued to fall on Tuesday as traders awaited data that are expected to show a return to growth in the UK economy. The first reading for fourth-quarter gross domestic product,...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:59 am GM to make its own electric motors in 2013General Motors Corp. is back in the electric motor business. The automaker said Tuesday that starting in 2013, it plans to build its own electric motors for hybrid and electric vehicles.Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 1:57 am GM to make electric motors in U.S.General Motors announced Tuesday that it intends to become the first major automaker to design and manufacture electric motors for cars in the United States.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 1:56 am Recovery from recession painfully slow, householders warnedThe UK's exit from recession will be welcomed by the Government as a sign that things are finally on the mend.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 1:52 am Media Digest 1/26/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Obama will seek a three years domestic spending freeze aimed at cutting $250 billion from the deficit by 2020. Reuters: China tightened bank credit rules. Reuters: Chinese media criticized the US for “polticizing” the Google (NASDAQ:GOOG) cyber attack incident. Reuters: Apple (NASDAQ:AAPL) Mac sales were strong but iPhone sales missed forecasts. Reuters: Goldman Sachs (NYSE:GS) is looking at options as [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 1:51 am Severn Trent gives warning of leaking pipesSevern Trent has warned that the recent cold snap has increased the amount of water leaking out of its pipes but said that the problem will not significantly increase its cost base for the year. Source: Latest Business News from Times Online | 26 Jan 2010 | 1:47 am Oil slides to near $74 as Asian markets fall (AP)
Source: Yahoo! News: Business News | 26 Jan 2010 | 1:44 am Oil slides to near $74 as Asian markets fallOil prices slid to near $74 a barrel Tuesday in Asia, weighed by weak regional stock markets and a stronger dollar. Benchmark crude for March delivery was down 93 cents to $74.32 a...Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 1:44 am U.S. stock exchanges push for sub-penny pricing: report(Reuters) - Major U.S. stock exchanges are pressing the regulator to allow price quotes in increments as small as one-tenth of a cent, the Wall Street Journal said on Tuesday.Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 1:40 am U.S. stock exchanges push for sub-penny pricing: report(Reuters) - Major U.S. stock exchanges are pressing the regulator to allow price quotes in increments as small as one-tenth of a cent, the Wall Street Journal said on Tuesday.Source: Reuters: Business News | 26 Jan 2010 | 1:40 am German bank chief rules out aid for crisis-hit GreeceThe head of the German central bank, Axel Weber, said Tuesday that any aid for crisis-hit Greece at the European level would be counterproductive and impossible to justify politically. ...Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 1:30 am UPDATE 3-Mitsubishi: capital tie-up not key in Peugeot talksPARIS/TOKYO, Jan 26 (Reuters) - Japanese carmaker Mitsubishi Motors Corp said talks to deepen ties with PSA Peugeot Citroen were ongoing, but played down expectations of a capital alliance after a report...Source: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 1:29 am Story of the recessionThe longest and deepest recession since the war has seen Britain's economy contract for a record six consecutive quarters. This is the story of the slump so far:Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 1:24 am Asia Markets And Europe Open (1/26/2010)Markets in Asia fell sharply. The Nikkei dropped 1.8% to 10,325. The Hang Seng fell 2.1% to 20,157. The Shanghai Composite dropped 2.4% to 3,019 as the Chinese government put in new bank reserve rules. At the open in Europe, the FTSE fell .7% to 5,223. Rio Tinto (NYSE:RTP) and BHP Billiton (NYSE:BHP) both sold off. The Dax dropped [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 1:21 am Recession - Facts and figuresToday's announcement that the recession is finally over represents the first time the British economy has registered a quarterly growth since the opening three months of 2008.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 1:20 am PROMISES, PROMISES: Obama revives jobs tax credit (AP)
Source: Yahoo! News: Business News | 26 Jan 2010 | 1:16 am American Association for Justice and Esquire Bank Execute Exclusive Marketing Licensing AgreementSource: RSS feed - channel BNewsBusiness | 26 Jan 2010 | 1:15 am London shares drop on concerns about ChinaLondon shares dropped on fears that China's plans to curb lending may stall the global economic recovery, hurting the country's exporters. Source: Latest Business News from Times Online | 26 Jan 2010 | 1:01 am Apple reports most profitable quarter everWith a market capitalization of $183 billion, it's now the second-largest technology company in the nation.It's not just anticipation for a much-hyped tablet device that's boosting Apple Inc.'s cult status with investors.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am Aircraft-leasing firm replaces chairmanThe move by International Lease Finance Corp. avoids a potential conflict of interest for co-founder Steven Udvar-Hazy as he tries to buy back part of the firm he sold to AIG. He will remain CEO.Steven Udvar-Hazy has been succeeded as chairman of International Lease Finance Corp., a move that analysts said eliminates a potential conflict of interest in his bid to buy back a portion of the aircraft leasing business that he co-founded and grew into one of the world's largest.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am Stocks turn higher as Bernanke's prospects appear to improveMajor stock indexes rose Monday as momentum appeared to shift in favor of the confirmation of Federal Reserve Chairman Ben S. Bernanke to a second term.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am Super Bowl takes U.S. pulse in secondsFor weeks there's been buzz about which companies are in the big game and which aren't. When enormous incumbents such as FedEx skip it, it's hard not to take that as a sign of decline, or retreat.The Super Bowl, which apparently is some sort of sporting event on Feb. 7, is a unique media happening: a moment when the nation comes together to adjudicate the meaning of advertising and to ratify its absurd, over-scaled importance in our culture.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am Bernanke's fate is up in the airThough two key Democrats voice support for giving the Federal Reserve chairman another term, dozens of senators haven't signaled how they'll vote. ...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am Ticketmaster-Live Nation merger gets Justice Department's approvalBut to ensure price competition, the music-industry goliath would have to create a pair of rivals.Giving its blessing to a deal that could transform the music industry, the Justice Department on Monday approved the controversial merger of the nation's dominant ticket seller and the world's largest concert promoter -- but only after extracting major concessions to address concerns that Ticketmaster and Live Nation would have a stranglehold on ticket sales.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am FriendFinder Networks plans IPOInvestors may be hot on the idea of social networking stocks, but they may not be ready for the operator of such racy websites as Bondage.com and AdultFriendFinder.com. ...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am Amgen fourth-quarter profit rises 1%The biotech firm's full-year revenue fell 2%. It projects that the release of denosumab and other new drugs will lead to modest revenue growth in 2010. ...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am Oil tops $75 a barrel; gasoline prices sink againCrude market bets Bernanke will keep his job. Weak consumer demand sends pump prices down nationally and in California. ...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am FriendFinder Networks plans IPOInvestors may be hot on the idea of social networking stocks, but they may not be ready for the operator of such racy websites as Bondage.com and AdultFriendFinder.com.Sex sells, but investors may not be ready for an initial public offering this hard-core.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am U.S. home resales drop almost 17% in DecemberIt's the biggest month-over-month decline for previously owned homes since the National Assn. of Realtors began tracking sales 42 years ago. California fares better than the rest of the nation.Sales of previously owned homes nationwide plunged steeply in December, raising concerns that the housing recovery could lose steam after government policies intended to support it expire in the spring.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am Airport security is a tech-firm gold rushCompanies compete for government contracts to design and make new baggage-screening and body-scanning devices.For airline passengers, the attempted Christmas Day attack and a directive by President Obama to pursue advanced screening technology will certainly mean added security procedures at airports. ¶ So for high-tech companies in Southern California and elsewhere, the increased focus on airport security means new opportunities to land hefty government contracts. ¶ Among those is Syagen Technology Inc., a Tustin company with 20 employees that has built an airport screening device that blows air on travelers and then analyzes the cast-off particles to detect explosives. The Transportation Safety Administration shelved an older version of the device because of maintenance problems. But, company President Jack Syage said, the Christmas attack has renewed interest in the next generation of air-analyzing units. ¶ "Everybody has started to talk about new technology at the airports," he said.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am Stocks turn higher as Bernanke's prospects appear to improveMajor stock indexes rose Monday as momentum appeared to shift in favor of the confirmation of Federal Reserve Chairman Ben S. Bernanke to a second term.Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am Ticketmaster-Live Nation merger gets Justice Department's approvalBut to ensure price competition, the music-industry goliath would have to create a pair of rivals. Giving its...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am Super Bowl takes U.S. pulse in secondsFor weeks there's been buzz about which companies are in the big game and which aren't. When enormous incumbents such as FedEx skip it, it's hard not to take that as a sign of decline, or retreat. ...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am GM names Edward E. Whitacre permanent CEOWhitacre, also chairman of the board, has been interim chief executive since December. the Detroit automaker also says it will pay down a $6.7-billion loan from the federal government.General Motors Co. named Chairman Edward E. Whitacre Jr. its chief executive Monday, consolidating its two top positions in a wiry 68-year-old Texan known for his deal making in the telecommunications industry.
Source: L.A. Times - Business | 26 Jan 2010 | 1:00 am GM names Edward E. Whitacre permanent CEOWhitacre, also chairman of the board, has been interim chief executive since December. the Detroit automaker also says it will pay down a $6.7-billion loan from the federal government. ...Source: RSS feed - channel BNPaperBusiness | 26 Jan 2010 | 1:00 am China tightening fears spook investors, hit stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 12:56 am Siemens' profits up by a quarterSiemens reports a big jump in profits for the final three months of last year, largely as a result of cutting costs.Source: BBC News | Business | World Edition | 26 Jan 2010 | 12:41 am Vasella steps down as Novartis chiefDaniel Vasella is to give up his role as chief executive of the Swiss pharmaceuticals group to concentrate on the chairmanshipSource: Financial Times - US homepage | 26 Jan 2010 | 12:39 am China tightening weighs on Asia stocks (AFP)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 12:25 am Japan interest rates kept on holdJapan's central bank keeps its key interest rate unchanged and underlines its determination to overcome deflation.Source: BBC News | Business | World Edition | 26 Jan 2010 | 12:01 am NZX breaks losing streak as leaders post gainsThe New Zealand sharemarket broke a seven-day losing streak today care of solid gains by leading shares Telecom and Fletcher Building.The benchmark NZX-50 closed up 20.406 points, or 0.64 per cent, at 3209.063. Turnover was worth...Source: nzherald.co.nz - Business | 26 Jan 2010 | 12:01 am US regulator clears music mergerA merger between Ticketmaster and concert promoter Live Nation is cleared by the US Department of Justice.Source: BBC News | Business | World Edition | 25 Jan 2010 | 11:56 pm Apple's Mac sales shine, iPhone lags Street viewSAN FRANCISCO (Reuters) - Apple Inc posted better-than-forecast Mac sales and strong growth in Asia and Europe, but iPhone shipments came in just below Wall Street's somewhat heightened expectations.Source: Reuters: Business News | 25 Jan 2010 | 11:36 pm Genii Capital withdraws from bidding for GM's SaabAMSTERDAM (Reuters) - Investment company Genii Capital has withdrawn from the bidding for General Motors' unit Saab, leaving Spyker Cars as the sole remaining bidder to rescue the ailing Swedish auto brand.Source: Reuters: Business News | 25 Jan 2010 | 11:34 pm Britain expected to exit worst recession in decadesOfficial figures are forecast to show that Britain is out of its worst slump since the 1930s.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Jan 2010 | 11:01 pm NZ Dollar mixed, rate decision awaitedThe New Zealand dollar eased today as the yen rose in response to speculation of a tightening of Chinese monetary policy.The NZ dollar had been rising slightly but late in the day stories citing banking sources said several Chinese...Source: nzherald.co.nz - Business | 25 Jan 2010 | 10:41 pm Apple rockets to most profitable quarter ever (AP)
Source: Yahoo! News: Business News | 25 Jan 2010 | 10:09 pm U.S. retail industry sales seen up 2.5 percent for 2010SAN FRANCISCO (Reuters) - U.S. retail sales should rise 2.5 percent this year, signaling that store chains have made it through the worst of the downturn as improvements in the housing and job markets bolster shoppers' confidence, a trade group forecast on Tuesday.Source: Reuters: Business News | 25 Jan 2010 | 10:07 pm U.S. retail industry sales seen up 2.5 percent for 2010 (Reuters)Reuters - U.S. retail sales should rise 2.5 percent this year, signaling that store chains have made it through the worst of the downturn as improvements in the housing and job markets bolster shoppers' confidence, a trade group forecast on Tuesday.Source: Yahoo! News: Business News | 25 Jan 2010 | 10:07 pm Announcing the Winners of 250 New Business CardsWe’ve chosen the winners for our 250 new business card contest. Thank you to everyone who entered. Here are the lucky three: Todd: In order to fix our financial problems, the US government needs to start over; by firing every incumbent and replacing them with the top talent in each segment. Patrick: In order to fix our financial problems, the US government needs to remember where it came from. Danny: In order to fix our financial problems, the US government needs to sit down, shut up and pay attention. If you’re one of the winners, PrintRunner will email you a code that you can use to obtain your free card at checkout. Todd and Patrick, I need your email. Please send it to info – at – businesspundit – dot – com, and I’ll get you hooked up with those free cards.
Source: Business Pundit | 25 Jan 2010 | 8:59 pm Overseas investment in Fonterra inevitable, says academicFonterra's constitution will eventually have to be re-written to allow for overseas investment if the co-operative ever wants to be a truly global player, a leading academic says.Fonterra yesterday revealed it had gained NZ$270.7...Source: nzherald.co.nz - Business | 25 Jan 2010 | 8:30 pm Ticketmaster-Live Nation deal gets OK'dThe Justice Department gave conditional approval Monday to Ticketmaster's proposed merger with Live Nation, saying the government's requirements in a proposed settlement will protect U.S. consumers who purchase tickets.Source: Business and financial news - CNNMoney.com | 25 Jan 2010 | 7:40 pm Obama to call for spending freezeSource: Business and financial news - CNNMoney.com | 25 Jan 2010 | 7:38 pm Bank of ND earnings continue climb: $58.1M profit (AP)AP - The Bank of North Dakota made $58.1 million in profits last year, its president reported Monday, setting an earnings record for a sixth straight year even though it fell short of its own expectations.Source: Yahoo! News: Business News | 25 Jan 2010 | 7:21 pm Probe into NY Fed over AIG disclosureThe New York Federal Reserve is being investigated by Neil Barofsky, the special inspector general overseeing the troubled assets relief programme, over its disclosure of documents relating to the bail-out of AIG and its counterpartiesSource: Financial Times - US homepage | 25 Jan 2010 | 6:13 pm Podcast: 'Yo!' Planet Money Raps
The day a pop superstar met an economist. (Caitlin Kenney/NPR) On today's Planet Money: We bring you a story about a cable tv producer from New Jersey, a podcasting libertarian economist, an international pop superstar and the two dead economists who brought them all together. After the jump, watch the video, download the MP3 and grab the lyrics. Download the podcast; or subscribe. Music: Sugar Hill Gang's "Rappers Delight." Find us: Twitter/ Facebook/ Flickr. Selected lyrics from "Fear The Boom and Bust" courtesy of EconStories: [Keynes Sings:] John Maynard Keynes, wrote the book on modern macro The man you need when the economy's off track, [whoa] Depression, recession now your question's in session Have a seat and I'll school you in one simple lesson BOOM, 1929 the big crash We didn't bounce back--economy's in the trash Persistent unemployment, the result of sticky wages Waiting for recovery? Seriously? That's outrageous! I had a real plan any fool can understand The advice, real simple--boost aggregate demand! C, I, G, all together gets to Y Make sure the total's growing, watch the economy fly We've been going back and forth for a century [Keynes] I want to steer markets, [Hayek] I want them set free There's a boom and bust cycle and good reason to fear it [Hayek] Blame low interest rates. [Keynes] No... it's the animal spirits Hayek sings: I'll begin in broad strokes, just like my friend Keynes His theory conceals the mechanics of change, That simple equation, too much aggregation Ignores human action and motivation And yet it continues as a justification For bailouts and payoffs by pols with machinations You provide them with cover to sell us a free lunch Then all that we're left with is debt, and a bunch If you're living high on that cheap credit hog Don't look for cure from the hair of the dog Real savings come first if you want to invest The market coordinates time with interest Your focus on spending is pushing on thread In the long run, my friend, it's your theory that's dead So sorry there, buddy, if that sounds like invective Prepared to get schooled in my Austrian perspective » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Jan 2010 | 5:33 pm Air NZ unveils new 'Skycouch' economy seatsAir New Zealand says it has achieved the "holy grail" of long haul air travel - a lie-flat economy seat.The airline will begin installing the "Skycouch", a Kiwi-designed row of three economy seats providing a flat surface for...Source: nzherald.co.nz - Business | 25 Jan 2010 | 5:30 pm Bernanke support grows; key senator sees approvalWASHINGTON (Reuters) - The U.S. Senate looked likely to grudgingly approve Ben Bernanke to a second term as Federal Reserve chairman this week after the White House stepped in to defend his crisis-fighting record and rally votes.Source: Reuters: Business News | 25 Jan 2010 | 5:20 pm Apple enjoys 50% jump in profitsApple fuelled anticipation about its expected launch of a tablet computer with a 50 per cent leap in quarterly profit and fresh evidence that the consumer technology juggernaut is riding the popularity of that device into the corporate marketSource: Financial Times - US homepage | 25 Jan 2010 | 5:05 pm HSBC chief Green attacks big bank bonuses, Brown claims global support for bank levyStephen Green, chairman of HSBC, has launched an attack on "inflated" bankers' bonuses as Gordon Brown claimed growing support for an international levy on banks.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Jan 2010 | 5:04 pm Hedge funds’ $1bn lawsuit says Porsche lied on VW ambition$American hedge fund managers sued Porsche and two of its former top managers yesterday for more than $1 billion ($£620 million), in what may be one of the biggest damages claims ever received by a German company. Source: Latest Business News from Times Online | 25 Jan 2010 | 5:01 pm Church of England counts cost of New York property dealThe Church of England has suffered a £40 million loss on a disastrous investment in a New York apartment complex that was acquired by a consortium in 2006 for $5.4 billion $— the biggest single residential property deal in the United States. Source: Latest Business News from Times Online | 25 Jan 2010 | 5:01 pm Business leaders rush to dissect the new Chinese consumerBusiness titans gathering for the World Economic Forum in Davos this week will find themselves in communal obsession over a mysterious figure they barely understand but already adore — the Chinese consumer. Source: Latest Business News from Times Online | 25 Jan 2010 | 5:01 pm DfID’s aid to Malawi is getting through, but it is hard to traceMalawi is famous for one thing: crushing, unrelenting, poverty. Madonna adopts a child and ignites a debate over wealthy Westerners exploiting poor Africans. But in Malawi’s case even ardent critics are muted. Very few children finish school and even those who do struggle to find a decent job. It seems churlish to deprive even one of hope. Source: Latest Business News from Times Online | 25 Jan 2010 | 5:01 pm Wills & Co ceases trading amid FSA inquiryWills & Co, the private client stockbroker, has ceased trading amid financial troubles and a Financial Services Authority (FSA) investigation. Source: Latest Business News from Times Online | 25 Jan 2010 | 5:01 pm Fears of Greek debt crisis ease as investors rush for year’s first bondsConcerns over a possible debt crisis in Greece eased yesterday after huge demand for the Greek Government’s first bond issue of this year. Source: Latest Business News from Times Online | 25 Jan 2010 | 5:01 pm $18m fraud accused indicates early guilty pleaAn ASB Bank investment banker has indicated that he will plead guilty to fraud charges involving nearly $18 million.Stephen Gerard Versalko, 51, has today appeared in the Auckland District Court on three charges laid by the Serious...Source: nzherald.co.nz - Business | 25 Jan 2010 | 5:00 pm Davos to hear of rebound in public trustPublic confidence in companies, governments and non-governmental organisations has staged a recovery since last year’s “trust Armageddon”, but the rebound is patchy and fragile, according to data to be presented at the World Economic Forum in Davos.Source: Financial Times - US homepage | 25 Jan 2010 | 4:48 pm Hackers target friends of Google workersPersonal friends of employees at Google, Adobe and other companies were targeted by hackers in a string of recently disclosed cyberattacks, raising privacy concerns and pointing to a highly sophisticated operation, security experts said.Source: Financial Times - US homepage | 25 Jan 2010 | 4:47 pm Stocks turn higher as Bernanke's prospects improve (AP)
Source: Yahoo! News: Stock Markets News | 25 Jan 2010 | 4:44 pm Dubai conglomerate drops S&P in row over downgradeDubai's troubled finances suffered another blow when a major conglomerate directly controlled by its ruler had its credit rating downgraded by Standard and Poor's.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Jan 2010 | 4:33 pm GM moves closer to IPOGeneral Motors moved closer to an initial public offering as it appointed its third chief executive in less than a year and preparing to shed $6.7bn in debt left over from last year’s government-sponsored bankruptcySource: Financial Times - US homepage | 25 Jan 2010 | 4:31 pm NZX makes gains in early tradingThe benchmark NZX-50 rose as trading opened today, gaining two points to 3190.838, after a quiet day on the market yesterday as traders looked overseas and waiting for the reporting season to kick off mid-February.The index has...Source: nzherald.co.nz - Business | 25 Jan 2010 | 4:30 pm Treasury prices fall as stock market breaks slide (AP)AP - Interest rates rose in the bond market Monday as stocks broke a three-day slide.Source: Yahoo! News: Stock Markets News | 25 Jan 2010 | 4:21 pm How the major stock indexes fared on Monday (AP)AP - Major stock indexes rose Monday as momentum shifted in favor of the reappointment of Federal Reserve Chairman Ben Bernanke. Investors want Bernanke to remain in control of the Fed and maintain his low interest rate policy. The prospect that he might not be confirmed in the Senate for another term rattled markets last week.Source: Yahoo! News: Stock Markets News | 25 Jan 2010 | 4:17 pm Metals, Movie Business, Earnings Season: Taking Stock PodcastSource: Bloomberg - All Podcasts | 25 Jan 2010 | 4:14 pm Signs point to a second Bernanke termFederal Reserve Chairman Ben Bernanke's chances at a second four-year term as head of the US central bank took a turn for the better today.The White House's lobbying effort on his behalf calmed a stock market that had grown anxious...Source: nzherald.co.nz - Business | 25 Jan 2010 | 4:00 pm Write-Offs: 01.25.10$$$ New York Forum: The New, More Focused Davos? [HuffingtonPost] $$$ What Makes Banks Fail [TBM] $$$ Bill Gates Supports Bank Fees [ABC News] $$$ Katie Benner: The Fall Of A Hedge Fund Wunderkind [Fortune] $$$ Minnesota Ponzi-Schemer Jailed for Refusing to Relinquish Submarine, Concert Tickets [NYM] $$$ Amaranth's Fish-Boy Engaged in Fraud, FERC Judge Says [Bloomberg] $$$ The company's dark-suited, bespectacled chief executive, Mark H. Bell, describes one of the Web sites, GetItOn.com, as a fast-growing new site that allows people to text search and "type in a sentence like, 'I'm looking for people who ride motorcycles.' " Or, you know, 'cock.' [WSJ] $$$ Jim Chanos: Actually, We're Not Betting Against China [BI] 
 Source: Dealbreaker | 25 Jan 2010 | 3:48 pm TI forecasts strong demandNEW YORK (Reuters) - Texas Instruments on Monday posted a quarterly profit at the top end of its target range and the chipmaker said there was strong demand in all its product areas and markets including Europe and the Americas.Source: Reuters: Business News | 25 Jan 2010 | 3:40 pm VMWare Sets High Bar for EMC and Citrix (VMW, EMC, CTXS)VMware Inc (NYSE: VMW) has been a difficult stock to evaluate for many because it is basically a virtualization tracking stock since EMC Corp.(NYSE: EMC) still owns about 80% of the company. But that is not keeping the shares from flying higher after the earnings report this evening. The leader in virtualization reported earnings of $0.31 EPS [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Jan 2010 | 3:31 pm $5 billion Manhattan property deal collapsesIt was the most expensive residential property deal ever. It was among the most controversial. And now it is the most disastrous.New York's sprawling Stuyvesant Town complex, an 11,000-apartment bulwark of affordable housing amid...Source: nzherald.co.nz - Business | 25 Jan 2010 | 3:30 pm Mattel's coolest Hot Wheels ever: They foldIt's the size of a credit card and about as slim as a cell phone. But the coolest feature of Mattel's new Hot Wheels ride is its 3D action: Push a button and the "flat" car pops up into a remote-control vehicle.Source: Business and financial news - CNNMoney.com | 25 Jan 2010 | 3:24 pm Bridgecorp case at top of SFO's queueThe Serious Fraud Office expects to make a decision within weeks over bringing charges against the directors of Bridgecorp.New SFO chief executive Adam Feeley has set his sights on meeting a March 31 deadline for decisions in...Source: nzherald.co.nz - Business | 25 Jan 2010 | 3:00 pm Apple chalks up most profitable quarter everSAN FRANCISCO - Apple rocketed to its most profitable quarter ever over the holidays, as huge sales of the iPhone - and a new way the company accounts for the device - led to a nearly 50 per cent jump in net income.The company...Source: nzherald.co.nz - Business | 25 Jan 2010 | 3:00 pm Apple Shines, Accounting Change Confuses (AAPL)Apple Inc. (NASDAQ: AAPL) has just reported earnings after the closing bell. The iPhone and iPod maker posted $3.67 EPS on a GAAP basis and $15.69 billion in revenues versus the Thomson Reuters consensus estimates of $2.07 EPS and revenues of $12.06 billion. Whispers were much higher, although this does not just constitute an earnings [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Jan 2010 | 2:51 pm Obama bid to calm middle class fearsPresident Barack Obama turned his attention to helping America’s middle class, which he said had been “under assault for a long time”, pledging to help families with the costs of raising children and caring for ageing parentsSource: Financial Times - US homepage | 25 Jan 2010 | 2:35 pm AK Steel, Medifast, Quest Diagnostics big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 25 Jan 2010 | 2:27 pm Are Haiti donations just a passing fad?As Twitter feeds light up with "Text HAITI" and celebrities host telethons and wear support ribbons at award ceremonies, the money to assist earthquake survivors in Haiti is pouring in.Source: Business and financial news - CNNMoney.com | 25 Jan 2010 | 2:18 pm Farmer Mac Gets New Capital (AGM)The Federal Agricultural Mortgage Corporation (NYSE: AGM), a.k.a. Farmer Mac, today raised additional capital. The capital came via a sale in a private offering of shares of non-cumulative perpetual preferred stock of Farmer Mac II LLC. This is a recently organized Delaware LLC that is owned in the common equity by Farmer Mac, which is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Jan 2010 | 2:07 pm Watch: 'Fear The Boom And Bust'A rap video made by George Mason University economist and Planet Money friend, Russ Roberts, and Spike TV executive producer and self described "amateur economic junkie," John Papola, is making it's worldwide debut today on All Things Considered with a little help from Alex Blumberg. As Roberts and Papola describe it: In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there's a "boom and bust" cycle in modern economies and good reason to fear it. The music video may not be ready for the MTV crowd just yet, but thanks to a chance encounter with pop star Ke$ha at our studio here in New York, it now has some street cred. As Ke$ha says, "it's legit, it's really good rapping." You can hear more about the video on today's podcast and look for more from this creative team at their new website EconStories. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Jan 2010 | 2:03 pm AIG More Threatening Than Bomber's BallsTesticle bombers can apparently board planes freely despite being on terrorist watchlists and after having been reported to the CIA, but dammit, AIG emails will get a national security status.
Source: Dealbreaker | 25 Jan 2010 | 1:53 pm Someone Still Buying Rounds For Lenny Dykstra
For more than 20 years, Dykstra, 46, lived huge as a self-described "robes-and-room-service kind of guy" who gained notoriety in recent years as a stock guru who wrote an investment column for TheStreet.com. In an April 2009 article in GQ magazine, photo editor Kevin Coughlin described how he met Dykstra in his $2,500-a-night suite at the Carlyle hotel in New York while interviewing for a position on The Players Club, Dykstra's now-defunct luxury magazine for professional athletes.
Source: Dealbreaker | 25 Jan 2010 | 1:29 pm Winners And LosersMonday 1/18-Friday 1/22.
Source: Dealbreaker | 25 Jan 2010 | 12:35 pm Presented By:Source: Dealbreaker | 25 Jan 2010 | 12:35 pm Shia LaBeouf Knows What It Takes To Get Hired At Goldman Sachs
Source: Dealbreaker | 25 Jan 2010 | 12:00 pm Stimulus Tracker: $4.7 trillion on the lineSource: Business and financial news - CNNMoney.com | 25 Jan 2010 | 11:47 am Free Lunch PleaseBy David Kestenbaum The other week we asked the question, is Denmark the awesomest economy on earth? Denmark has a huge welfare state so everyone is taken care of, but it also has some of the world's highest taxes which would tend to slow economic growth. Andy Pennock a grad student at the University of North Carolina wrote in: In this week's podcast you guys talked a lot about the tradeoff between taxes and growth in welfare states and asserted that the tradeoff built up over time. Students of the welfare state would challenge the assertion that this tradeoff empirically exists, not just in Denmark but as an overall trend. I think you should interview Peter Lindert at UC-Davis. He's an economic historian (perhaps THE economic historian) that welfare state scholars look to. His book Growing Public: Social Spending and Economic Growth Since the Eighteenth Century asserts that there is not a tradeoff between economic growth and taxes. He says there really is such a thing as a free lunch. Seriously, check him and his book out. He's tremendously respected in the field and his life's work is exactly this question. Thanks for the suggestion Andy. I have Lindert's book on my desk, and we'll be interviewing him next month. BONUS READING: Excerpts from Lindert's book and a review. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 25 Jan 2010 | 11:24 am Ministers urged to cancel Haiti’s debtHaiti’s creditors were urged to cancel its foreign debt as ministers from prominent international donor countries met in Montreal to consider the first steps towards rebuilding the countrySource: Financial Times - US homepage | 25 Jan 2010 | 11:08 am China scientists lead world in research growthA 64-fold increase in peer-reviewed scientific papers since 1981, with particular strength in chemistry and materials scienceSource: Financial Times - US homepage | 25 Jan 2010 | 11:06 am French clowns push risky businessSome intriguing ads featuring clowns have been popping up in Paris. But the ads aren't trying to sell anything. John Laurenson explains.Source: Marketplace | 25 Jan 2010 | 11:03 am Bottom line: U.S. far from recoveredWhen is the economy going to get better? There are a lot of different answers. Commentator Justin Wolfers says it's time to cut through the economic verbiage.Source: Marketplace | 25 Jan 2010 | 11:03 am Sam's Club to outsource demo jobsSam's Club is letting some 10,000 workers go. But they won't be taking the food samples with them. Amy Scott reports.Source: Marketplace | 25 Jan 2010 | 11:03 am Crises hinder Haiti's developmentThe search and rescue operation in Haiti has been called off. Now there's the question of putting the country back together again. Sabri Ben-Achour reports.Source: Marketplace | 25 Jan 2010 | 11:03 am The first steps to rebuilding HaitiRobert Fox, executive director of OxFam Canada, talks with Kai Ryssdal about what's going on at the Montreal conference for Haiti, and what needs to happen to rebuild the Caribbean nation from the ground up.Source: Marketplace | 25 Jan 2010 | 11:03 am Plane makers fight jet export subsidiesA David and Goliath story is taking place in the aircraft industry. Airbus and Boeing have become allies to keep a Canadian newcomer from cutting into their sales of smaller jets. John Dimsdale reports.Source: Marketplace | 25 Jan 2010 | 11:03 am A shakeout in commercial real estateAfter failing to reach an agreement with its lenders, a development company has walked away from the massive apartment complex Stuyvesant Town. Alisa Roth reports this scenario is playing out all over the country.Source: Marketplace | 25 Jan 2010 | 11:03 am FDIC may securitize bad assetsEach time the government seizes a failed bank, taxpayers own more of them. So with five banks recently seized by regulators, what's the FDIC going to do with all those bad assets? Jeremy Hobson reports.Source: Marketplace | 25 Jan 2010 | 11:03 am Dick Bove On 'Venezuelan Style Democracy'
The Rochdale analyst, in a rage and megalomania-infused report released today, predicts a new huge market crash if politicos don't put their shit together, and soon. On the Democratic side, there's a "Venezuelan Style Democracy." Hugo Chavez maintains himself in power as Venezuela's President by following a simple path: He constantly attacks the moneyed classes charging them with creating that nation's problems. In so doing he keeps the population in a constant state of anger over the fact that it must be made to suffer due to the actions of the rich and what were once the powerful. And on the Republican side, it's not much better:
Source: Dealbreaker | 25 Jan 2010 | 10:40 am Telepresence Competition Heating Up (CSCO, JNPR, PLCM)The ongoing Telepresence effort made by Cisco Systems Inc. (NASDAQ: CSCO) has some new competition from a rival networking technology company as well as from a rival in the video communications market. While this might not be new competition, it is at least stronger competition that is aiming to keep Cisco from winning this market [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Jan 2010 | 10:32 am Vikram Pandit Loves Himself Some Collard Greens
Source: Dealbreaker | 25 Jan 2010 | 10:28 am Rumor Mill: AT&T May Lose iPhone Exclusive To VerizonBy Douglas A. McIntyre AT&T (T) will lose its U.S. exclusive distribution rights for the Apple (AAPL) iPhone on Wednesday, according to a report published at tech blog Hot Hardware, which claims to have an inside source. That’s the same day that Apple is holding a special press event at which it is expected to launch [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Jan 2010 | 9:56 am Renewed Interest in Natural Gas is Key for HalliburtonBy Paul Ausick of 24/7 Wall St. Halliburton (HAL) reported fourth-quarter 2009 net income of $243 million (EPS of $0.27), down 48% from $468 million (EPS of $0.87) in the same period a year ago. The company’s results excluded a one-time charge of $10 million. Analysts’ estimates had an average EPS of $0.27. Revenue for the quarter [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Jan 2010 | 9:40 am Letter: 'Trading Benefits For Wages"Heather R. writes: I heard your report on the idea that money saved from expensive health plans could lead to higher wages. You said that there is lots of economic data to support money moving from wages to health plans, so economists assume the reverse would be true as well. But it sounded like there was no data to support that right now. Presumably that's because health plan costs have not dropped, making it an untested hypothesis. I (and I suspect others like me) can supply anecdotal evidence of this, though. My husband and I are a two income couple and I have a relatively stable job at a University with good benefits, so we both have health insurance from my job. My husband has repeatedly negotiated with employers for higher wages or more paid vacation based on the fact that he would not be using their health plan. If he can do it, unions can do it. I suspect there's a big untapped data set out there in the form of two income couples like us. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Jan 2010 | 9:20 am Evidence of Apple tablet tests shows up in Flurry dataFrom Venture Beat Apple (AAPL) has been testing 50 devices believed to be its new tablet computers, according to analytics firm Flurry. Flurry said its analytics showed that the device were being tested on Apple’s campus in Cupertino, Calif. Flurry said its data showed that the testing of the devices increased dramatically in January, although it detected the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Jan 2010 | 9:18 am Geithner And Bernanke: Bros Before Hos
So there you go. He warned you. In the meantime, there's no word from Ben supporting Tim in anticipation of his testimony, Wednesday about his (non-)involvement in the AIG saga.
Source: Dealbreaker | 25 Jan 2010 | 9:17 am Shame On You Old Spice! BusinessPundit today was able to confirm that Old Spice is now more than 8 months past due from numerous online ad buys. We have received confirmation from multiple sources that Old Spice ads that were run as long ago as February of 2009 and due for payment in May of 2009 have still not been paid for. Since this is a growing trend with online ad buys (a sign of the economic times?), BusinessPundit has every intention of holding these big companies accountable for their negligence. Shame on you Old Spice!
Source: Business Pundit | 25 Jan 2010 | 9:10 am Caption Contest Monday
Source: Dealbreaker | 25 Jan 2010 | 9:05 am Bayh on Banks, Health, Budget; Scott Brown's Victory: VideoSource: Bloomberg - All Podcasts | 25 Jan 2010 | 9:04 am Huenerwadel of UBS: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Jan 2010 | 8:55 am Hoffman-Becking: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Jan 2010 | 8:54 am Arthur Levitt: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Jan 2010 | 8:51 am Humboldt's Michael Burda: On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 25 Jan 2010 | 8:50 am Morning Report: Investment Banks Back Off Big BonusesBy Caitlin Kenney The latest compensation figures from Goldman Sachs, Morgan Stanley and JP Morgan Chase show the big banks will pay out less in 2009 than analysts had expected. Bloomberg reports that the amount set aside for pay, $39.9 billion, is almost $10 billion less than analysts predicted in October. The banks are facing intense pressure from Washington to reduce their payouts. President Obama has called the bonuses "obscene." Goldman Sachs recently announced that it's scaling back its plans for bonuses and handing over $500 million to charities. According to a report today from Bloomberg, the bank is set to cap the salary and bonuses of its London partners at $1.6 million, a decision that will affect 100 employees. We'll have more details about the bonuses in coming weeks, but they are still expected to be a great deal larger than what bankers received last year. Meantime, General Motors is expected to announce that its interim CEO Ed Whitacre Jr. will permanently take over the position. Whitacre is the former CEO of AT&T Inc. He started working at GM as its chairman in June and reportedly played a major role in the ouster of former chief executive Fritz Henderson and former CFO Ray Young. The White House is working overtime to ensure Federal Reserve Chairman Ben Bernanke has a second term. The WSJ (subs req'd) reports that "the president himself, as well as Mr. Geithner, Chief of Staff Rahm Emanuel and White House economic coordinator Lawrence Summers, made phone calls to key senators over the weekend" encouraging them to support Bernanke's confirmation. Bernanke needs 60 votes in the Senate, as of late Sunday, 31 senators said they would support him with 17 opposed according to a Dow Jones Newswires survey. Mr. Bernanke's term is set to expire on Jan. 31. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Jan 2010 | 8:07 am Dumas on Economy, Gallo on Euro, Tchilinguirian on Oil: AudioSource: Bloomberg - All Podcasts | 25 Jan 2010 | 7:55 am This Season’s 25 Richest NFL PlayersSuper Bowl XLIV is right around the corner. It takes guts, speed, and coordination for a team to make it to the Super Bowl. Paying your star players a king’s ransom doesn’t hurt, either. Indeed, most top NFL players rack up a ridiculous annual income. Who are this season’s players with the mostest? We took salary and endorsement data* to determine who the richest players are for this season. (Note: This list contains more Colts than Saints. You determine the meaning of that.) 25. Glenn Dorsey
Salary: $13.07 million Contract: $51 million The Kansas City Chiefs defensive end, like many players in his position, is a big guy. But Dorsey takes it a step further. The LSU college football legend, drafted by the Chiefs in 2008, had to have his legs straightened by braces as a kid, Forrest Gump-style. By the 7th grade, he weighed 200 pounds, ran like a pro, and kicked other kids around. By the time college came around, Dorsey steamrolled. He played most of one season with a fractured left leg, but still racked up 62 tackles and three sacks. When his teammate played a prank on him, he almost threw the guy out the window. Glenn Dorsey don’t mess around. Neither does his salary. 24. Maurice Jones-Drew
Salary: $13.1 million Contract: $31 million Size isn’t everything. Just ask the NFL’s “littlest big man,” Maurice Jones-Drew. At 5’7”, the Jacksonville Jaguars running back doesn’t exactly tower over anyone else on the field. But he out-skills many of them. Last year, he ran 177 yards on eight carries with two touchdown runs. One was 80 yards, one was 79. The move helped make the “NFL’s most versatile player,” as well as a 2010 Pro Bowl player. Think he’s the next Barry Sanders? Ask his salary. 23. James Harrison
Salary: $13.36 million Contract: $51.75 million Steelers linebacker James “Silverback” Harrison doesn’t like endorsements. When asked about them, he said he’d just have to “sit there and talk to people.” Maybe it’s just as well for the two-time Superbowl winner, who has avoided team meetings with both President Obama and G.W. Bush, has gone to anger management class, and broken down a door to slap his girlfriend. But hey, it’s not social skills that lands you a $52 million contract. It’s football skills. 22. Roy E. Williams
Salary: $13.66 million Contract: $54 million When the Dallas Cowboys wide receiver joined the team in 2008, he expressed concern for the Cowboys’ offense. Maybe the coaches listened, because a year later, the Cowboys also had a winning 2009 season. The team was a strong contender strong for Super Bowl XLIV (2010) until Brett Favre and the Vikings defense shut them down. Maybe it’s not only an offense problem, after all. At least the team didn’t offend Williams with a low salary. 21. Chris Gamble
Salary: $14 million Contract: $53 million In 2008, the Carolina Panthers cornerback signed a contract extension worth $53 million. Maybe that’s what emboldened him to talk smack about Patriots wide receiver Randy Moss. After Moss’s subpar performance contributed to the Patriots losing to the Panthers, Gamble said that the Panthers “knew (Moss) was going to shut it down. That’s what we wanted to do him. That’s what we did. … He’d just give up a lot … Slow down, he’s not going deep, not trying to run a route. You can tell, his body language.” Golden Boy Tom Brady, Moss’s close friend, responded with “everyone takes kind of liberty to say what they want to say in a situation like yesterday. I’ve seen plenty of plays made on Chris Gamble, too, over the course of the season.” Back atcha, Chris. 20. Jake Grove
Salary: $14.2 million Contract: $29 million Grove was drafted to the Raiders in 2004, then joined the Miami Dolphins in 2009. Despite enticing pay, the center was out for much of the season due to an ankle injury. Would his on-field presence have helped the Dolphins, who came into the season as AFC East champs, but now can’t participate in another Miami Super Bowl? Unlikely. 19. Vernon Carey
Salary: $15 million The Dolphins offensive tackle has been shoring up the line since 2004. He helped Dolphins win the 2008 AFC East title, the first after a number of bad seasons. Since then, well…maybe the Dolphins should cough up for another Dan Marino. 18. Jay Cutler
Salary: $15.04 million Contract: $30 million Jay Cutler started off with a bang in 2006. Right after being drafted by the Broncos, the QB became a starter and threw two touchdowns in four of his first-ever NFL games. He was set to be the next Peyton Manning—until Broncos Coach Mike Shanahan was fired at the end of 2008. Cutler was upset. A couple of months later, when Cutler got over his emotions, he found out that new coach Josh McDaniels wanted to trade him. Like a thwarted lover, Cutler felt betrayed again, so deeply that he pushed the Broncs to trade him out. In March 2009, the Chicago Bears inherited the disgruntled Cutler. Cutler, meanwhile, has sealed his reputation as a prima donna. But hey, the pay isn’t bad, right? 17. Ben Roethlisberger
Salary: $12.75 million Contract: $102 million “Big Ben” Roethlisberger made history by winning the Super Bowl in his second season in the NFL, when he was only 23. That made him the youngest quarterback ever to win an NFL Super Bowl. He’s stayed a loyal Steeler since, with a playing style akin to legendary Broncos QB John Elway. If you just can’t get enough of Big Ben, you can take him home, in the form of Big Ben’s BBQ sauce, Big Ben’s XL Beef Jerky, or by wolfing down a “roethlisburger” sandwich at the burger joints in Pittsburgh and Ohio. 16. Carson Palmer
Salary: $16.17 million Contract: $118.75 million Before hot dogs, before The Replacements, there were the Cincinnati Bungles. A year after QB Carson Palmer joined them, he helped dig them out what looked to be a permanent rut. In 2005, the Bengals had their first winning season in 15 years. After that…let’s not talk about it. 2005 was good, real good, ok? 15. Greg Jennings
Salary: $16.25 million Contract: $28.5 million The Packers wide receiver made for a deadly combination with former Packers QB Brett Favre, helping the team win a number of matches. Thanks to Jennings, Favre also broke a number of QB records. Favre later broke the bond by retiring. Then retiring from retiring. Now, Jennings sees the old man at Vikings matches, and doesn’t help him out at all. 14. Jason Brown
Salary: $15 million Contract: $37.5 million After four years with the Baltimore Ravens, center Jason Brown joined the St. Louis Rams in 2009. The Rams paid a premium for Brown, making him one of the NFL’s best-paid centers. It didn’t do the Rams much good last season. Maybe that’s why the team is selling for a bargain basement price of $700 million. 13. Dwight Freeney
Salary: $16.22 million Contract: $72 million Indianapolis Colts defensive end Freeney boasts the biggest contract ever awarded to a defensive player. He was with the team when they won Super Bowl XLI in 2007. So far, there has only been one dent in Freeney’s income. After losing to the Chargers in early ’09, Freeney said that “those were the worst !&%# calls I’ve seen in a long time … It’s not like they made one !&%# bad call — it’s three calls, in overtime … They need to start investigating some other !&%#.” After that, the NFL fined Freeney’s #%&! for tune of $20,000. 12. Julius Peppers
Salary: $16.68 million Contract: $16.68 million The gifted Carolina Panthers defensive end is one of the only NFL players, besides Donovan McNabb, to play in the NCAA men’s basketball Final Four and the Super Bowl. 6’6”, 285 pounds, and Peppers can sprint with the best of them, as well as overpower sturdy linemen. Needless to say, this four-time Pro Bowler and stellar athlete earns the public’s respect. 11. Antonio Smith
Salary: $15.5 million Contract: $35 million After helping bring the Arizona Cardinals to the Super Bowl XLIII in 2009, defensive end Antonio Smith went free agent. The Houston Texans nabbed him for $35 million, building on their increasingly strong franchise. Now all he has to do is watch his elbows: The NFL fined him $22,500 for hitting and elbowing other players in a single week this year. *Note: We derived most salary and endorsement data from these two sources. Because those sources have different time frames for their numbers, this list is best seen as an informed estimate for the 2009 season. We didn’t include other sources of income, taxes, agent fees, or any other deductions. Continue to the top 10 Richest NFL Players ->
Source: Business Pundit | 25 Jan 2010 | 7:47 am New Walmart Clown Commercial Goes Beyond Low PricesWalmart is going out on a limb with a new clown commercial (featured above) that aired during the NFL conference finals. In the recent past, Walmart’s marketing strategy was relatively simple: Stream in-store ads and de-clutter stores. But the Walmart clown ad above is actually edgy, a new move for the traditionally mellow advertiser. Did the commercial endear the company to the NFL-watching demographic? You bet.
Source: Business Pundit | 25 Jan 2010 | 7:21 am National Association of Realtors: Home Sales Down 16.7%Home sales dropped 16.7% in December, according to the National Association of Realtors. It’s the biggest drop on record (the record begins in 1968). MarketWatch has more on this tax credit hangover, partially caused by buyers who didn’t know the credit would be extended: Sales had surged about 40% from June to November in response to the federal tax credit for first-time buyers, which was set to expire on Nov. 30. As it happened, the tax credit was extended until June 2010 and expanded to cover repeat buyers. But buyers didn’t know the credit would be extended when they were shopping for homes in October. In order to close in December, they would have had to sign a sales contract by early November at the latest. Existing-home sales are recorded at the closing. First-time buyers accounted for 43% of sales in December, down from 51% in November. Inventories of unsold homes on the market dropped 6.6% to 3.29 million, the lowest since March 2006. The inventory figures are not seasonally adjusted. Inventories usually fall about 8% this time of year.
Source: Business Pundit | 25 Jan 2010 | 6:52 am A Good Promotion in a Bad Economy
If these folks cleaned your clothes for free while you were hard up, wouldn’t you want to come back once you have money?
Source: Business Pundit | 25 Jan 2010 | 3:30 am
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