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'Worst year for airlines' in 2009The year 2009 saw the biggest decline in air passenger traffic in the post-war era, says airline industry body Iata.Source: BBC News | Business | World Edition | 27 Jan 2010 | 3:35 am EU to unfreeze $1.4 bn loan to Romania soon (AP)AP - The European Union will unfreeze a bailout loan installment of euro1 billion ($1.41 billion) for Romania after the country moved to curbed its budget deficit, the EU's top economy official said Wednesday.Source: Yahoo! News: Business News | 27 Jan 2010 | 3:33 am Greene King sales growth to slowBrewer and pub owner Greene King warns its sales growth will weaken in coming months, hit by the rise in VAT.Source: BBC News | Business | World Edition | 27 Jan 2010 | 3:28 am Greece Looks To The Chinese Sugar DaddyPlagued by high deficits and a drop in its credit ratings, Greece has to raise money as quickly as it can to fund its national debt. According to the FT, is will trying to market $25 billion euros to Beijing. China has, as it likes to remind the world, $2.4 trillion in foreign exchange reserves. China [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jan 2010 | 3:26 am Yahoo shares rise on earningsShares of Yahoo rose after-hours Tuesday after the company posted a fourth-quarter profit that beat Wall Street expectations, driven by stabilization in advertising revenue.Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 3:19 am Turn your gold into cashOne Sunday afternoon last November, Annette Webber-Townsend, 39, got to see just how golden her opportunities were. Her friend, fellow Brooklyn social worker Stacey Long, was hosting what has become the quintessential substitute for the Tupperware party in this weak, nervous economy: a gold party. A Syosset, N.Y., firm called the Gold Standard had set up shop in Long's apartment to buy gold from the women she'd invited over.Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 3:19 am Geithner, NY Fed defend actions on AIG paymentsWASHINGTON (Reuters) - Treasury Secretary Timothy Geithner denied any role in disclosures about American International Group's payments to banks and defended his decisions as New York Federal Reserve chief to pay full price to retire AIG credit default swaps.Source: Reuters: Business News | 27 Jan 2010 | 3:16 am Consumers can't quit the big banksIt's the financial equivalent of a dysfunctional relationship.Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 3:15 am WH Smith upbeat despite sales dipWH Smith says it is pleased with its trading performance for the past few months despite a 4% drop in like-for-like group sales.Source: BBC News | Business | World Edition | 27 Jan 2010 | 3:13 am Global stocks hit again by tight money fears, regulationLONDON (Reuters) - Global stock markets fell again on Wednesday, hitting their lowest in two months as investors fretted about a monetary squeeze from central banks around the world and also the impact of tightening U.S. banking regulation.Source: Reuters: Business News | 27 Jan 2010 | 3:11 am Global stocks hit again by tight money fears, regulation (Reuters)
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 3:11 am Wall Street set to slideU.S. stock futures tumbled Wednesday, as investors braced for the release of the Federal Reserve's policy statement.Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 3:10 am Oregon says yes to taxing wealthy, businesses (AP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 3:09 am Oil prices fall before US inventory data (AFP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 3:04 am Software giant SAP reports 12% profit fallGerman business software giant SAP AG reported Wednesday a 12% drop in fourth-quarter net profit, but forecast that it will grow software-related revenue in 2010 even as the market continues to be challenging.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 3:01 am Cadbury workers to mount protest at Kraft dealCadbury employees will protest in Bournville, the historic home of the confectioner in the UK, this morning against possible job cuts after the planned £11.9 billion takeover by Kraft Foods. Source: Latest Business News from Times Online | 27 Jan 2010 | 3:00 am London Markets: Banks pace decline for U.K. stocksBanks struggle on Wednesday to lead a decline in U.K. stocks, as results from a Spanish peer cast a shadow on the sector.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 3:00 am Toyota halts US sales of Camry, 7 other models (AP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 2:59 am Rusal dives on share debut but upbeat on China (AFP)
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 2:57 am Davos Live 2010Davos 2010 sees business leaders and politicians gather at the World Economic Forum in Switzerland between January 27 and 31. Here is the latest news and analysis.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jan 2010 | 2:55 am Signs Of The Apocalypse: The 182 Page CBO 2010 Deficit AnalysisA review of the Congressional Budget Office forecast of the 2010 to 2020 fiscal P&L and balance sheets for the US government leaves the impression that the government is caught in a financial vice from which it cannot free itself—at least not in the next ten years. Every newspaper, newscast, and online information site gave front [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jan 2010 | 2:52 am Fidelity suspends Hong Kong fund managersFidelity International Ltd. has suspends two senior fund managers in Hong Kong for potentially breaching the company’s code of ethics, according to reports.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 2:51 am WH Smith Christmas sales fall but profit margins riseWH Smith posted a fall in underlying sales over the key Christmas period but said profit margins continued to rise.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jan 2010 | 2:42 am Mumbai, Sydney lead Asia losses as trade resumesAsian markets suffer another day of declines Wednesday, with concerns about Chinese bank lending restrictions sending Hong Kong and Shanghai shares further south.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 2:42 am BBVA profit plunges 94% on U.S., Spain hitsSpanish banking giant BBVA on Wednesday reported a 94% drop in fourth-quarter net profit, as it increased provisions for bad loans and took a write-down on the value of its U.S. businesses.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 2:36 am Don't be a victim: 10 tips to fight off fraudstersCriminals have a host of ways to help themselves to money in your bank account. Here's how to keep yourself safe.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jan 2010 | 2:33 am Deripaska's Rusal tumbles on Hong Kong market debutRussian metals giant UC Rusal plunged on its Hong Kong stock market debut on Wednesday but the controversial firm's boss expressed confidence about tapping the resources-hungry Chinese market.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jan 2010 | 2:30 am Camera sales boost Canon profitsCanon reports a fivefold jump in profits for the final three months of last year as sales of digital cameras grow strongly.Source: BBC News | Business | World Edition | 27 Jan 2010 | 2:22 am Will Fed signal exit plan? Not likelySource: Business and financial news - CNNMoney.com | 27 Jan 2010 | 2:11 am Business warns regulation may crimp recoveryDAVOS, Switzerland (Reuters) - Global business leaders warned Western governments on Wednesday that a populist crackdown on the financial industry could crimp a fragile recovery from the worst recession since the 1930s.Source: Reuters: Business News | 27 Jan 2010 | 2:11 am Currencies: Dollar up vs. most rivals ahead of FOMCThe dollar lost ground to the yen but gained against other major rivals in Asian trading Wednesday, ahead of the outcome of the U.S. Federal Reserve's first policy meeting of the year.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 2:02 am World stocks extend slide amid China concerns (AP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 2:01 am World stocks extend slide amid China concerns (AP)
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 2:01 am Europe Markets: BBVA paces Europe stock slideEuropean shares dropped on Wednesday, down for the fifth time in six sessions, with BBVA losing ground after the Spanish banking giant reported a sharp decline in profit.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 1:59 am Davos: Step-by-step coverage of Davos0945 GMT: Since it is India and China that are likely to pull the world out of recession, perhaps it is time to stop labelling them as third world economies, suggests Dennis Nally, global chairman of PriceWaterhouseCoopers. Source: Latest Business News from Times Online | 27 Jan 2010 | 1:52 am IMF, EU to resume crisis aid to Romania (AFP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 1:52 am Sixth day of equity losses looms as risk aversion prevailsGlobal Makets Overview: Traders anxiously await a double-barrel policy blast out of Washington, and worries remain that world economic growth is still very fragileSource: Financial Times - US homepage | 27 Jan 2010 | 1:50 am Toyota suspends sales after mass recallToyota Motor Sales USA Inc. said Tuesday it is asking dealers to temporarily suspend sales of eight models.Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 1:49 am Media Digest 1/27/2010Reuters: Obama will focus on jobs and the deficit. Reuters: Toyota (NYSE:TM) will suspend the manufacture of eight models. Reuters: Geithner and the NY Fed defended their actions in AIG (AIG) bailout. Reuters: China will put no curbs on Google’s (GOOG) mobile technology. Reuters: Oracle (ORCL) plans to hire 2,000 workers after the finish of its Sun buyout. Reuters: The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jan 2010 | 1:49 am What to expect from Apple todaySource: Business and financial news - CNNMoney.com | 27 Jan 2010 | 1:48 am Fed mulls exit plan as Bernanke awaits 2nd term (AP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 1:46 am FTSE 100 slips at the open (AFP)
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 1:40 am Britain's recovery: a Q&ABritain has emerged from recession but with anaemic growth of just 0.1pc. So where does that leave the prospects for recovery?Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jan 2010 | 1:35 am Oil falls in Asia ahead of US inventory report (AP)
Source: Yahoo! News: Business News | 27 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 | 27 Jan 2010 | 1:31 am Oregon says yes to taxing wealthy, businessesOregon has set aside its history of shooting down tax increases on statewide ballots, with voters endorsing higher taxes amid a brutal economic slump. Democrats in the Oregon LegislatureSource: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 1:28 am Rich-poor gap 'wider than 1970s'The gap between rich and poor is wider now than 40 years ago, a government-commissioned panel has reported.Source: BBC News | Business | World Edition | 27 Jan 2010 | 1:22 am Asia Market And Europe Open (1/27/2010)Markets in Asia fell. The Nikkei dropped .7% to 10,252. Toyota (NYSE:TM) fell on news that it suspending making some models. The Hang Seng dropped .4% to 20,426. The Hang Seng fell 1.1% to 2,987. At the open in Europe, the FTSE dropped 1.1% to 5,215. The Dax fell 1.1% to 5,603. The CAC 40 fell 1.1% to 3,756. Data [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jan 2010 | 1:22 am Livestock scheme gets mixed reactionMost industry groups welcomed the Government's announcement today that it will make a livestock tracing scheme compulsory - and pay for it.Agriculture Minister David Carter said the Government would fund establishment and operation...Source: nzherald.co.nz - Business | 27 Jan 2010 | 1:20 am Saab gets reprieve as GM seals sale to Spyker (AFP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 1:15 am Obama to announce high-speed rail plan post-speechA day after delivering a State of the Union address aimed at showing recession-weary Americans he understands their struggles, President Barack Obama intends to award $8 billion in stimulusSource: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 1:12 am Toyota suspends U.S. sales of 8 models in recallTOKYO/DETROIT (Reuters) - Toyota Motor Corp will suspend U.S. sales of eight models subject to a massive safety recall, an unprecedented move that sent its shares tumbling and raised questions about the timing of its earnings recovery.Source: Reuters: Business News | 27 Jan 2010 | 1:02 am Sir Brian Pitman courted to chair Virgin MoneyVirgin Money, the financial arm of SIr Richard Branson’s empire, is in talks with Sir Brian Pitman, the veteran retail banker and former chairman of Lloyds TSB, about taking the helm at the company, Source: Latest Business News from Times Online | 27 Jan 2010 | 1:01 am The Collingwood Group Launches Collingwood Communications, Appoints Jeffers President and CEO; Appoints Froass Vice President of Client ServicesSource: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 1:01 am Crystal Palace in administrationChampionship side Crystal Palace go into administration and are set for a 10-point deduction.Source: BBC News | Business | World Edition | 27 Jan 2010 | 1:00 am Autos revving up? Saab sold, Ford hiring, GM building electric enginesA Dutch company is acquiring Saab from GM, and Ford says it will add 1,200 workers in Chicago. The moves could signal a recovery in the long-suffering auto industry.More signs emerged Tuesday that the U.S. auto industry may actually be recovering from its deep slump, despite estimates of anemic January sales and Toyota Motor Corp.'s suspending sales of eight vehicle models because of accelerator problems.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am CBS defends decision to run politically sensitive Tim Tebow ad during Super BowlThe network, which several years ago rejected some left-leaning issue advertisements, acknowledges that it has changed its policy.CBS Corp., acknowledging Tuesday that it has changed its policy and now accepts commercials that advocate political causes, defended its decision to run a politically sensitive advertisement during next month's Super Bowl.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am Yahoo swings to profit in fourth quarterRevenue falls 4% to $1.73 billion, but that's up compared with the first nine months of 2009. The Internet firm expects sales growth to resume in the current quarter. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am Financial industry's anxiety is rising over Obama's planThe president's proposal, which includes curtailing high-risk securities trading by commercial banks, would curb practices that at some firms account for 25% of earnings.The financial sector has coolly navigated around government attempts to restrict executive pay and risky investments, but many on Wall Street worry that the Obama administration's latest proposal would hit the industry hard.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am House hearing today on AIG rescueTreasury secretaries past and present are to testify amid claims of a 'back-door bailout' for financial firms.The controversy over American International Group Inc.'s $182.5-billion bailout is intensifying with a government watchdog launching an investigation into potential misconduct in the disclosure of the rescue's details and a House committee preparing to grill the current and former Treasury secretaries about them today.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am Autos revving up? Saab sold, Ford hiring, GM building electric enginesA Dutch company is acquiring Saab from GM, and Ford says it will add 1,200 workers in Chicago. The moves could signal a recovery in the long-suffering auto industry. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am Toyota temporarily halts sales of eight modelsThe carmaker took the unprecedented action because the vehicles' gas pedals can get stuck and cause unwanted acceleration. Toyota will also stop making the cars and trucks Monday.Toyota Motor Corp. has taken the unprecedented step of halting sales and production of eight models -- including its top-selling Camry and Corolla -- saying their gas pedals can get stuck and cause runaway acceleration.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am King Kong to rejoin Universal tours in 3-DThe digital creation of a team led by director Peter Jackson will begin harassing theme park visitors again this summer.After nearly 19 months away from the spotlight, a new King Kong -- more grizzled and, definitely, ferocious -- is preparing to return to Universal Studios Hollywood.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am CBS defends decision to run politically sensitive Tim Tebow ad during Super BowlThe network, which several years ago rejected some left-leaning issue advertisements, acknowledges that it has changed its policy. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am John Malone's Liberty Media moves to increase stake in Live Nation EntertainmentThe cable mogul makes a tender offer to acquire 34.5 million shares in the company formed by the merger of concert industry giants Ticketmaster Entertainment and Live Nation.One day after the merger of concert industry giants Ticketmaster Entertainment and Live Nation gained regulatory approval, cable mogul John Malone moved to vastly increase his stake in the newly formed colossus.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am Outlook for housing market is muddied by minuscule rise in pricesA 0.2% increase in the S & P/Case-Shiller index is the third month of weak gains, casting doubt on the strength of the housing market's rebound. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am Financial industry's anxiety is rising over Obama's planThe president's proposal, which includes curtailing high-risk securities trading by commercial banks, would curb practices that at some firms account for 25% of earnings. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am Ameriquest settles 29 class-action lawsuitsThe now-defunct Orange County firm, once the nation's largest subprime lender, pledges $22 million to repay up to 712,000 borrowers.Agreeing to settle 29 class-action lawsuits alleging predatory lending, the Ameriquest group of subprime lenders has pledged $22 million to repay aggrieved borrowers and their lawyers -- a fraction of its payments in previous suits before it shut down as the mortgage meltdown set in.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am House hearing today on AIG rescueTreasury secretaries past and present are to testify amid claims of a 'back-door bailout' for financial firms. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am FCC asks cellphone companies to justify early termination feesLetters of inquiry sent to major firms include questions about the fees that customers are charged to get out of their contracts. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am King Kong to rejoin Universal tours in 3-DThe digital creation of a team led by director Peter Jackson will begin harassing theme park visitors again this summer. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am Getting hung up on basic phone rate increasesAT&T customers saw their monthly rate for basic residential phone service jump 22% this month to $16.45. The increase followed a 23% rate hike last year.
Source: L.A. Times - Business | 27 Jan 2010 | 1:00 am John Malone's Liberty Media moves to increase stake in Live Nation EntertainmentThe cable mogul makes a tender offer to acquire 34.5 million shares in the company formed by the merger of concert industry giants Ticketmaster Entertainment and Live Nation. ...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am J & J sales climb, but profit falls on big chargeNEW BRUNSWICK, N.J. -- The pain of the recession is easing just a bit for Tylenol and Band-Aid maker Johnson & Johnson, which on Tuesday reported a healthy jump in fourth-quarter sales. But J&J;...Source: RSS feed - channel BNPaperBusiness | 27 Jan 2010 | 1:00 am First Super Yacht Auction by Super Yacht AuctionSource: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 1:00 am Asia stocks fall on China jitters, yen gainsSINGAPORE (Reuters) - Asian stocks fell for the eighth straight day on Wednesday on fears that China's heightened efforts to rein in soaring credit growth could hamper the global economic...Source: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 12:50 am Toyota halts sales of US modelsToyota says it will suspend sales of some of its most popular US models after recalling 2.3 million cars last week.Source: BBC News | Business | World Edition | 27 Jan 2010 | 12:50 am Taiwan to keep China bank investments ban: reportTaiwan plans to use its ban on Chinese investment in local banks as a bargaining chip when negotiating a planned major trade pact with the mainland, a report said Wednesday. Taipei will...Source: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 12:49 am Appeals court sides with Santa Barbara News-PressThe 9th U.S. Circuit Court of Appeals has sided with the Santa Barbara News-Press in a labor dispute. The court ruled Tuesday that forcing the newspaper to rehire employees fired for...Source: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 12:40 am Davos forum opens to debates on economic recoveryLeaders from world politics and business are joining with thinkers, artists and more at the five-day World Economic Forum in the Swiss Alpine resort of Davos. The forum opens Wednesday...Source: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 12:39 am Thomson Reuters CEO has seen uptick in salesDAVOS (Reuters) - Thomson Reuters Corp CEO Thomas Glocer said on Wednesday the news and information company saw a "marked uptick" in its sales at it progressed through the end of 2009.Source: Reuters: Business News | 27 Jan 2010 | 12:38 am Toyota suspends sales of 8 models in recallTOKYO/DETROIT (Reuters) - Toyota Motor Corp said it will suspend sales in North America of eight models involved in recall, a move that could throw the timing of its earnings recovery into...Source: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 12:34 am UBS says Swiss govt must save U.S. tax dealZURICH (Reuters) - The Swiss government needs to resolve the legal impasse which threatens to derail a deal with U.S. tax authorities over UBS client data, the bank's chairman Kaspar...Source: RSS feed - channel BNewsBusiness | 27 Jan 2010 | 12:26 am UBS says Swiss govt must save U.S. tax dealZURICH (Reuters) - The Swiss government needs to resolve the legal impasse which threatens to derail a deal with U.S. tax authorities over UBS client data, the bank's chairman Kaspar Villiger was quoted as saying on Wednesday.Source: Reuters: Business News | 27 Jan 2010 | 12:26 am China says no limits on use of Google's Android (AP)
Source: Yahoo! News: Business News | 27 Jan 2010 | 12:18 am Athens invites Beijing to buy bondsGreece is wooing China to buy up to €25bn of government bonds, a move that underlines the Asian nation’s growing financial power, as the European country struggles to fund soaring public debtSource: Financial Times - US homepage | 27 Jan 2010 | 12:13 am Rusal shares lower in Hong Kong debutRussian aluminum giant United Co. Rusal, whose Hong Kong initial public offering was widely seen a bet on growth in China, tumbles as much as 10% in debut trade.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 12:13 am Asian boost for Japanese exportsJapan's exports grew for the first time in 15 months in December, boosted by demand in Asia, official figures show.Source: BBC News | Business | World Edition | 27 Jan 2010 | 12:12 am Greece wants to sell its bonds to China: reportGreece is reportedly encouraging China to buy up to $35.2 billion of its government bonds, as the European nation struggles to fund its soaring public debt.
Source: MarketWatch.com - Top Stories | 27 Jan 2010 | 12:03 am Sharemarket closes 15 points downThe New Zealand sharemarket closed lower today as investors continued to assess a range of government interventions globally and awaited interest rate decisions here and elsewhere.Trading in Auckland International Airport shares...Source: nzherald.co.nz - Business | 26 Jan 2010 | 11:42 pm Telecom XT outages unacceptable - associationSome Telecom mobile customers are still experiencing problems after a massive outage today.Customers south of Taupo had problems making and receiving phone calls, sending text messages and using broadband services after the 11am...Source: nzherald.co.nz - Business | 26 Jan 2010 | 11:34 pm Valero Energy looking to sell some units: report(Reuters) - Valero Energy Corp , the top independent U.S. refiner, is working to sell its remaining plants on the U.S. East Coast and in the Caribbean, the Wall Street Journal said.Source: Reuters: Business News | 26 Jan 2010 | 11:05 pm Oracle plans to hire 2,000 workers: reportNEW YORK (Reuters) - Software maker Oracle Corp, which is near to closing its $7 billion acquisition of computer maker Sun Microsystems Inc, plans to hire 2,000 sales and engineering employees, the Wall Street Journal reported on Tuesday.Source: Reuters: Business News | 26 Jan 2010 | 10:57 pm Dollar eases, investors await rate decisionThe New Zealand dollar closed lower today but recovered from its worst levels in overnight trading as investors globally continued to shun risky investments.Investors are also waiting to see if the Reserve Bank of New Zealand...Source: nzherald.co.nz - Business | 26 Jan 2010 | 10:29 pm Rusal shares nosedive in Hong Kong debutThe first non-Asian company to launch a primary listing in Hong Kong began dismally on Wednesday as shares in UC Rusal - the world's biggest aluminium producer - plunged by 9 per cent in the first few minutes of trading. Source: Latest Business News from Times Online | 26 Jan 2010 | 10:22 pm Add $75 billion to the recovery billThe Congressional Budget Office hiked its forecast Tuesday for how much the stimulus bill will add to the nation's deficit, raising its estimate by $75 billion to $862 billion.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 9:43 pm Apple's big tablet secret spilledSAN FRANCISCO - McGraw-Hill's CEO thinks Apple's mystery device is a tablet powered by iPhone software.Apple plans to unveil its "latest creation," widely thought to be a tablet computer, at an event Wednesday (Thursday morning...Source: nzherald.co.nz - Business | 26 Jan 2010 | 8:00 pm Avatar's Kiwi connection new path for local film industryWork done by Weta Digital on the global blockbuster film Avatar marks a new direction in the way overseas studios approach New Zealand as a filmmaking destination, a industry executive says.Penelope Borland, CEO of the Screen...Source: nzherald.co.nz - Business | 26 Jan 2010 | 7:30 pm The AIG Manifesto, All Over Again… and Again (AIG)The most popular issue outside of bashing bonuses for politicians has been the notion of getting to bash saving American International Group Inc. (NYSE: AIG). This will be an interesting week as the public and as the politicians get to re-digest the AIG buffet for about the twelfth or thirteenth time. It is almost sport [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 7:26 pm Councils paying $28m for new airport sharesAuckland and Manukau City Councils say they will spend $28 million on new shares in Auckland International Airport.The airport company announced a $126 million capital-raising this morning, with the money being used to help fund...Source: nzherald.co.nz - Business | 26 Jan 2010 | 7:00 pm Yahoo sees possible Q1 revenue growthSAN FRANCISCO (Reuters) - Yahoo Inc said revenue could grow for the first time in six quarters in the first three months of 2010, noting that demand for premium display advertising had improved significantly.Source: Reuters: Business News | 26 Jan 2010 | 6:50 pm Factory farm plan "called in" by Environment MinisterEnvironment Minister Nick Smith has "called in" three applications for factory dairy farms in the MacKenzie Basin.The applicants had applied to the Environment Canterbury for large dairy effluent consents but the consents will...Source: nzherald.co.nz - Business | 26 Jan 2010 | 6:45 pm Senate to take up Bernanke nomination ThursdayWASHINGTON (Reuters) - The U.S. Senate on Tuesday moved to clear the way to confirm Ben Bernanke to a second term as Federal Reserve chairman, setting a procedural vote for Thursday in a sign that the needed votes were now secured.Source: Reuters: Business News | 26 Jan 2010 | 6:34 pm Criminalise cartels, says new Govt reportA report out today proposes criminalising cartels, with jail sentences as long as seven years.The Ministry of Economic Development discussion paper also canvaSource: nzherald.co.nz - Business | 26 Jan 2010 | 6:30 pm 25c wage increase all we could afford - GovtThe Government says its 25 cent increase to the minimum wage - about $10 a week - is all that can be afforded, but unions say it is miserly and the Labour Party want it set at $15.Labour Minister Kate Wilkinson said increasing...Source: nzherald.co.nz - Business | 26 Jan 2010 | 6:00 pm Toyota halts sales of eight recalled modelsToyota said that it was temporarily halting sales of eight models in North America, including some of its most popular vehicles, involved in a wide-ranging recall related to jammed accelerator pedalsSource: Financial Times - US homepage | 26 Jan 2010 | 5:41 pm Dr Pepper Snapple, Nigeria, `Barbell Strategy’: Taking StockSource: Bloomberg - All Podcasts | 26 Jan 2010 | 5:33 pm 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 | 5:30 pm Buffett’s Berkshire builds stake in Munich ReWarren Buffett, the billionaire US investor, has expanded his reinsurance holdings by becoming one of the largest shareholders in Munich Re, one of the biggest companies in the industrySource: Financial Times - US homepage | 26 Jan 2010 | 5:28 pm Obama faces backlash on spending freezePresident Barack Obama was preparing to face down rising opposition from his liberal base in advance of his State of the Union address in which he will make fiscal deficit reduction a top priority for his administrationSource: Financial Times - US homepage | 26 Jan 2010 | 5:17 pm Reform plans set up Davos clashProposals for bank reforms and tighter regulation are set to cause controversy at the World Economic Forum in Davos.Source: BBC News | Business | World Edition | 26 Jan 2010 | 5:09 pm Yahoo results point to upturn in advertisingTopping expectations, the group said revenue in the last three months of 2009 slipped 4 per cent from a year before but grew 10 per cent from the third quarter to $1.73bnSource: Financial Times - US homepage | 26 Jan 2010 | 5:08 pm Barack Obama to freeze spending amid drive to boost jobsIn the face of mounting public anger over huge deficits and his own lavish legislative ambitions, President Obama is to propose a three-year spending freeze on many domestic programmes in his first State of the Union address tonight. Source: Latest Business News from Times Online | 26 Jan 2010 | 5:01 pm Geithner braced for grilling on AIGThe Treasury secretary and former New York Fed president will come under increased pressure on Capitol Hill following the release of more e-mails relating to the bail-out of the insurerSource: Financial Times - US homepage | 26 Jan 2010 | 5:01 pm Mervyn King calls for pay cuts and a carve-up of international banksMervyn King said yesterday that bankers should take a permanent pay cut to align them with other professionals as he outlined plans to carve up lenders across national boundaries. Source: Latest Business News from Times Online | 26 Jan 2010 | 5:01 pm First Capital Connect pays passengers bigger refunds as threat to franchise loomsThe railway operator that has been called the worst company in Britain said last night that it would pay passengers additional compensation after three months of disruption and cancelled trains. Source: Latest Business News from Times Online | 26 Jan 2010 | 5:01 pm Death is not the last thing on their mindsA Korean investment banker friend of mine died recently, but only for ten minutes. He’s a very busy man, you see, and a coffin leaves frightful creases in a good suit. Source: Latest Business News from Times Online | 26 Jan 2010 | 5:01 pm Last orders?The confirmation that Elpida, the investment vehicle of JP McManus and John Magnier, is to vote with Joe Lewis for a new-look board at Mitchells & Butlers is no great surprise and makes the result a foregone conclusion. In many ways it is easier to empathise with the racing tycoons than with the billionaire investor based in the Bahamas. Source: Latest Business News from Times Online | 26 Jan 2010 | 5:01 pm ‘I need a loan, what are these are worth?’They were once seen simply as luxuries for the rich and (sometimes) famous — yachts, racehorses, even private aircraft, the kind of thing that no self-respecting multimillionaire would be without — but the wealthy have discovered an unexpected bonus from their executive toys. They are using them as security for loans so that they do not have to find large amounts of cash for a deposit when buying a new home. Source: Latest Business News from Times Online | 26 Jan 2010 | 5:01 pm Toyota To Halt Sales Of Eight Models, Reputation In TattersToyota (TM) recently said it expected a 6% increase in global sales this year which would make it the No.1 car company in the world for the second year in a row. The forecast should be insured by the rapid rise in shipments of the Toyota industry-leading hybrid, the Prius. What a difference a day makes. Toyota announced [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 4:45 pm Berkshire Hathaway to join S&P 500, shares soar (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 4:39 pm Global Real Estate’s Saft Discusses Commercial Law: AudioSource: Bloomberg - All Podcasts | 26 Jan 2010 | 4:36 pm BofA steps up foreclosure prevention effortsOne roadblock slowing Obama's foreclosure prevention program seems to be clearing up. Bank of America, the nation's largest mortgage lender, announced Tuesday that it was the first lender to sign an agreement to lower or eliminate payments on second mortgages.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 4:23 pm Fox Is Most Trusted Network News OperationGlen Back and Bill O’Reilly have not done as much to damage the credibility of Fox News, a part of News Corp (NWS) which is controlled by Rupert Murdoch, as some analysts suspect. A new study from Public Policy Polling shows that 49% of those surveyed say that they trust Fox News. Thirty-seven percent said they did [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 4:12 pm Mutual Fund Giant Expects To See Investors Return To Stock Market (Investor's Business Daily)Investor's Business Daily - Franklin Resources runs many kinds of mutual funds. But besides namesake Benjamin Franklin, it's most known for fixed-income funds, epitomized by its prized Templeton Global Bond Fund.Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 4:05 pm Banks line up for Kabel’s €5bn buy-outPrivate equity groups including CVC Capital Partners and Carlyle are lining up banks to finance a €5bn bid for Kabel Deutschland, Germany’s leading cable operator, in what would be the biggest leveraged buy-out for two yearsSource: Financial Times - US homepage | 26 Jan 2010 | 4:02 pm How Uncle Sam will profit from TARPGuess what? The federal government will make money on bailing out the banks.Source: Business and financial news - CNNMoney.com | 26 Jan 2010 | 4:00 pm Stocks give up advance as financial stocks slide (AP)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 3:53 pm Big banks in call for greater co-ordinationWithout joined-up reform, financial sector could revert to ‘business as usual‘ attitude, says IIFSource: Financial Times - US homepage | 26 Jan 2010 | 3:47 pm Buffett & Berkshire Snag S&P 500 Spot (BRK-B, BNI)It has been speculated that this may occur, but few were expecting this news this soon. Warren Buffett has been notified by Standard & Poor’s Indexes that Berkshire Hathaway Inc. (NYSE: BRK-B) will replace Burlington Northern Santa Fe (NYSE: BNI) in the S&P 500. The change is still on a date to be determined. The total float will have 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 | 3:42 pm How the major stock indexes fared on Tuesday (AP)AP - Stocks gave up a healthy advance and closed slightly lower Tuesday as investors suffered another bout of anxiety over President Barack Obama's plan to regulate banks.Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 3:23 pm Write-Offs: 01.26.10$$$ New York Fed Defends AIG Rescue [WSJ] $$$ Scott Patterson's The Quants: "The quants did their best to contain the damage, but they were like firefighters trying to douse a raging inferno with gasoline--the more they tried to fight the flames by selling, the worse the selling became. Quant funds everywhere were scrambling to figure out what was going on." [WSJ] $$$ Roubini Supports Bernanke Reappointment [Bloomberg] $$$ Fear The Boom And Bust [YouTube] 
 Source: Dealbreaker | 26 Jan 2010 | 3:22 pm Market slips as caution offsets earnings (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 3:14 pm Yahoo! Plugging Along… Sort Of (YHOO)Yahoo! Inc. (NASDAQ: YHOO) gave earnings after the close today that really offers no great jumping point on the first look for new buy-ins nor for new sell-outs. The number-two search provider said that advertising weakness lifted in the last quarter and it posted $0.11 EPS, but said that it would have made $0.15 EPS [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 2:38 pm A Modest Proposal
Source: Dealbreaker | 26 Jan 2010 | 2:27 pm 3Com and H-P Closer to Merger, China Review Looms (COMS, HPQ)3Com Corporation (NASDAQ: COMS) filed with the SEC documents showing that the special meeting of holders approved the merger with Hewlett-Packard Co. (NYSE: HPQ). While this does not make the deal a done-done deal, it is probably as close to being a done deal as you would expect. The votes came largely in favor of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jan 2010 | 2:21 pm Like-for-like fails to tell WH Smith storyToday's statement from WH Smith brings to a close the Christmas trading update season: it also highlights the fundamental flaws created by the City's obsession with like-for-like sales.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 2:16 pm Hint of growth adds to the Bank's dilemma on Quantitative EasingWell thank God that's over - although I doubt that many will be cracking open the Cava (let alone the champagne) on the back of yesterday's anaemic GDP figures. While I'm loath to trample on green shoots, lets face it, 0.1pc is hardly something to shout about.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 2:16 pm Haiti: Too Many People, Not Enough Land?
A farmer works in a cornfield in Vaudreuil, Haiti, in June 2009. (Thony Belizaire/AFP/Getty Images) By Chana Joffe-Walt Adam and I just interviewed Mats Lundahl. He's an Swedish economist who has published more than 80 papers about what should be done to pull Haiti out of poverty. He obviously has many ideas and we talked through several but in the end of our conversation he simply said this: "Haiti can't support 9.7 million people. You have to get people off the island." The basic argument goes something like this: Haiti has cleared most of its trees. The soil is bad, population too big, the land simply cannot support its people. So what do you do? Some people are arguing for moving large numbers of Haitians somewhere else like Senegal or New Orleans or a charter city (although Paul Romer argues against this idea for Haiti). Others simply want to see the international community increase immigration quotas. How's this sound to you guys? » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 26 Jan 2010 | 2:15 pm Glass of confidence looks half emptyDespite the worse-than-expected economic outlook, the FTSE 100 index managed to end the day in positive territory - but again it was a pretty close run thing.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 2:13 pm Jonathan Barrett Sees Platinum ETFs Continuing to Rise: AudioSource: Bloomberg - All Podcasts | 26 Jan 2010 | 1:59 pm Page on Europe's Economy, Munster on Apple Earnings: First WordSource: Bloomberg - All Podcasts | 26 Jan 2010 | 1:57 pm Sterling falls on limp exit from recessionThe pound fell after it emerged Britain only narrowly escaped recession with surprisingly weak growth of just 0.1pc in the fourth quarter of 2009.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 1:27 pm Bank of England proposes full protection for deposits as part of financial overhaulBank customers should be offered deposit accounts that protect every last penny of their savings, under radical new proposals from the Bank of England.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jan 2010 | 1:27 pm Ex-Treasury boss Paulson to address AIG bailouts (AP)
Source: Yahoo! News: Stock Markets News | 26 Jan 2010 | 1:11 pm US urges shared cyberattack defence‘The kind of defence we want is not something akin to the Maginot Line, but more like manoeuvre warfare’ - LynnSource: Financial Times - US homepage | 26 Jan 2010 | 1:01 pm Cliff Asness Is Running Out Of Adjectives With Which To Describe His Feelings Towards Obama's Policies
Source: Dealbreaker | 26 Jan 2010 | 12:59 pm Presented By:Source: Dealbreaker | 26 Jan 2010 | 12:28 pm What's A "Bloomberg Minute"?
(Sidebar: The reason I stumbled upon this clip was not because Bernie is blamed for 9/11 and swine flu but because Ullman is supposed to do a Barney Frank impression at some point this season which could be phenomenal.)
Source: Dealbreaker | 26 Jan 2010 | 12:28 pm David Rosenberg: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 26 Jan 2010 | 12:18 pm High stakes, pressure in DavosMore than 2,500 people will gather for the World Economic Forum in the Swiss ski town of Davos to discuss how to fix the global economy. Stephen Beard reports on what attendees and observers can expect.Source: Marketplace | 26 Jan 2010 | 11:13 am Despite scandals, China still growingChinese officials are still pulling contaminated dairy products off store shelves. China correspondent Scott Tong talks with Kai Ryssdal about how China doesn't seem to be slowing down, even with corruption problems.Source: Marketplace | 26 Jan 2010 | 11:13 am Where will Howard Stern go next?Four years ago, Howard Stern moved to Sirius Satellite Radio. But with less people buying satellite radios and subscriptions, there's talk that Stern may return to the regular airwaves. Brett Neely reports.Source: Marketplace | 26 Jan 2010 | 11:13 am A toxic environment for green workersIn his State of the Union address, President Obama will likely push for more green jobs. But green jobs aren't necessarily clean ones. Sarah Varney reports.Source: Marketplace | 26 Jan 2010 | 11:13 am Ford starts building a new workforceFord says it will add 1,200 new jobs in the fourth quarter of this year. Alisa Roth reports on auto worker jobs in the future.Source: Marketplace | 26 Jan 2010 | 11:13 am Fed mulls inflation prevention measuresThe Federal Reserve is expected to keep the Federal Funds Rate where it is for many months to come. But even if the Fed raises interest rates, some are saying the old tools will no longer do the trick. Jeremy Hobson reports.Source: Marketplace | 26 Jan 2010 | 11:12 am What's behind Obama's spend freeze?President Obama is calling for a spending freeze on some domestic programs in the federal budget. Washington bureau chief John Dimsdale talks with Kai Ryssdal about how much money the move might save.Source: Marketplace | 26 Jan 2010 | 11:12 am Jefferies Tops League TablesIn Haitian Donations, according to Bloomberg. • Jefferies Earlier: Citi Seems To Care More About Haiti Than Other Banks, God's Included
Source: Dealbreaker | 26 Jan 2010 | 11:08 am Chinese Banks Pull Back On Lending
Chairman of China's Banking Regulatory Comission Liu Mingkang speaking during the Asian Financial Forum last week. (Mike Clarke/AFP/Getty Images) By Caitlin Kenney Following a rush of lending at the start of the year, some Chinese banks have temporarily suspended new lending. Credit Suisse economist Dong Tao told the WSJ (subs req'd) that six Chinese banks he contacted had confirmed they had suspended "new lending" across the country starting Jan. 19. The Chinese media is reporting that banks issued more than one trillion yuan ($161 billion) in new loans in the first two weeks of the year. While a rush of lending at the start of the year is typical, the Financial Times reports that today Beijing is "worried." Inflation expectations are rising and a huge overhang of liquidity already exists in the system following a year in which Beijing engineered what some economists have called the greatest easing of monetary and financial conditions in history. China's banking system is still very much a traditional deposit and lending business and the government-set spread between deposit and lending interest rates still accounts for about 85 per cent of banks' earnings. That means the banks have few growth options beyond swelling their balance sheets with ever-larger volumes of loans. Chinese lenders are rushing to make new loans before stricter regulations go into place as the economy recovers. The IMF's World Economic Outlook report released today predicts that China will grow 10 percent this year, compared to just 2.7 percent growth in the U.S. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 26 Jan 2010 | 10:24 am Borders Books CEO Ron Marshall Resigns After 1 Year on the Job
Borders Group CEO Ron Marshall is resigning effective today. Borders hired him a little over a year ago, on January 5 2009, in order to turn the bookstore around. The Wall Street Journal covers the story: The move comes a week after Borders posted a steep drop in revenue and same-store sales for the vital holiday period. Mr. Marshall, 55 years old, took over as CEO at Borders on Jan. 5, 2009. A turnaround specialist with a strong financial background, Mr. Marshall is credited with reducing debt at Borders, cutting expenses and gaining the confidence of the publishing community in the struggling retail chain. However, Borders had a very weak Christmas period and must now prove that it can boost revenue. Under Mr. Marshall and Mark Bierley, the retailer’s chief financial officer, Borders has sharply reduced its corporate overhead and also expanded into the e-book retail business by taking a stake in Kobo Inc., an e-book retailer that Canadian retailer Indigo Books & Music Inc. spun off as a standalone entity late last year. Borders is expected to integrate Kobo’s e-bookstore into Borders.com this year. But the chain, which competes head-to-head with Amazon.com Inc., Barnes & Noble Inc., and major discounters that sell a limited selection of books at cheap prices, has so far failed to prove that it can generate sales gains. Revenue at Borders’ superstores for the 11-week holiday period ended Jan. 16 dropped 15% to $649.2 million while same-store sales, a key economic indicator, also fell 15%. Borders is expected to report results for its fiscal fourth quarter, which ends Jan. 30, in late March. Sounds like Ron Marshall barely had a chance to prove himself. Borders is a company in a flailing industry (brick & mortar bookstores). Firing Marshall is a sign of how desperate they’ve become for a rapid-fire turnaround. Unless their next CEO is perfect for a rapid-fire reconstruction, I pity that person.
Source: Business Pundit | 26 Jan 2010 | 10:14 am What are the Economic Implications of the Obama Spending Freeze?
President Obama announced yesterday that he will freeze non-military discretionary spending for three years. It’s mostly a political move, but what does it mean for the economy? The Atlantic has some good answers: The key fact is that non-military discretionary spending today is about 25 percent of the budget. Freezing 25 percent of spending while entitlements grow faster than inflation does not confront our deficit, but it does make the Democratic base really really mad. Where will the cuts come from? Will it dent the debt? Read more about the political implications of Obama’s spending freeze. They will, I assume, be greater than the economic implications.
Source: Business Pundit | 26 Jan 2010 | 9:50 am Neil Barofksy Will Cut A Bitch
...an attitude honed during eight years of fighting white-collar criminals and Colombian drug lords as an assistant United States attorney -- he still has the knife from a foiled attempt on his life in a field outside Bogota -- are propelling Mr. Barofsky over barriers that have slowed the others. SIGTARP's Neil Barofsky Is Way More Badass Than We Realized [Daily Intel]
Source: Dealbreaker | 26 Jan 2010 | 9:43 am Jon Winkelried Abandoned Lloyd Blankfein For A Stud
Source: Dealbreaker | 26 Jan 2010 | 9:30 am Commercial Printer Quad/Graphics Buys Canadian Rival Webecor
Quad/Graphics, a major US printer that prints popular magazines like Playboy and Newsweek, announced it will buy rival Webecor for $1.3 billion. Reuters has more: Montreal-based World Color, formerly known as Quebecor World, was founded more than a century ago and prints magazines such as Sports Illustrated, US Weekly, Reader’s Digest and Rolling Stone. The two companies did not announce the deal’s value, but the transaction is expected to be worth between $1.3 billion and $1.4 billion, according to a source familiar with the deal. The agreement would create the second-largest commercial printer in North America, behind R.R. Donnelley & Sons Co (RRD.O). Privately held Quad/Graphics said that concurrent with the closing of the deal, it intends to become a publicly traded company. Once the deal is complete, Quad/Graphics’ shareholders will hold about 60 percent of the combined entity’s shares, while World Color shareholders will own the remainder of the new company. The combined entity, which will have nearly 30,000 employees worldwide, is expected to generate annual revenues of more than $5 billion. Quad/Graphics estimates the combined company will also generate about $225 million in annualized savings within 24 months of closing.
Source: Business Pundit | 26 Jan 2010 | 9:30 am Consumer Confidence Index climbsCHICAGO -- Americans' confidence in the economy improved modestly in January for the third straight month, as they begin to feel slightly better about business conditions and the job picture, according to a survey released Tuesday.
Source: L.A. Times - Business | 26 Jan 2010 | 9:22 am Letter: 'Taxing Health Care, A Business Owner's View'Mary D. writes in response to our podcast about the "Cadillac Tax": I worked at a small business for two years where, as head of operations, I actively participated in the decisions about the health benefits we offered our employees (including coverage for me and the owners). The owners felt strongly about providing health benefits for their employees, but it wasn't easy. Each year, we faced 25-30 percent increases in our baseline health care costs. As an employer, your choices are: 1. The owner pays it all, taking a hit on the profitability of the company and using money you would otherwise happily give in raises to your employees. And, I do mean happily. Most rational business owners want to reward good employees. 2. The employee pays the extra, thereby reducing their own take home pay. Employees will receive a pay raise, but it is not likely to cover the total increase in premiums so they are effectively paid less - and their health care is no better. 3. Reduce benefits by opting for higher co-pays and higher deductibles or changing insurance companies which may change the doctors you can see. 4. Some combination of the above, where benefits are reduced, the employees pay more and the employer pays more. In this case, everyone is a little worse off and paying more for health insurance that at best is the same, or more like, worse than the prior plan. Sometimes, the rising costs are an employee or a member of an employee's family has a serious or chronic medical issue. How would you like to be that person who is causing these premiums to go up for everyone? For years I have been wondering why people - business owners and employees - don't seem to care that health costs keep rising which negatively impacts employee income and hinders the employer's ability to compensate its employees. And, it isn't as though the health benefits are better - they aren't. I think most people would prefer a salary increase, and I think most employers would prefer to provide greater financial incentive than spend it on health care. After all, saying "Great job, here's an x-ray" doesn't quite have the same impact as giving someone $500, for instance. But these are the trade offs employers and employees have to make. This is the reality small businesses face every year. And that is what workers need to understand. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 26 Jan 2010 | 9:20 am Jim Bianco: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 26 Jan 2010 | 9:17 am Brad Hunter: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 26 Jan 2010 | 9:15 am Jeffrey Saut: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 26 Jan 2010 | 9:14 am Caption Contest Tuesday
Source: Dealbreaker | 26 Jan 2010 | 8:30 am Opening Bell: 01.26.10AIG Payout To Partners Probed (WSJ) Spherix Partners Will Pay $2.1 Million to Settle SEC Lawsuit (Bloomberg) AIG Wants Pledges on Retention Cuts by Tuesday (Reuters) Bernanke Is Gaining Supporters (NYT) Davos Too Big to Fail as Bankers Recoil in Political Backlash (Bloomberg) Still Needed: A Sheriff of Finance (NYT) A Modest Proposal for the Fed (WSJ)
Source: Dealbreaker | 26 Jan 2010 | 7:30 am LSE's Howard Davies: On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 26 Jan 2010 | 6:56 am Morning Report: President Obama Proposes Spending FreezeBy Caitlin Kenney Responding to concern over the increasing deficit, President Obama plans to freeze spending on some domestic programs. The freeze would affect just small portion of the budget, $447 billion in spending, but the White House estimates it could save $250 billion over the next decade. Programs like Social security and Medicare would be exempt from the cuts, as would the military and other programs related to national security. The president is expected to propose his spending freeze during Wednesday's State of the Union. During which he is also expected to announce plans to create a deficit commission, a bipartisan task force that would look for other ways to curb the $1.4 trillion deficit. Gross domestic product in the U.K. rose 0.1 percent in the fourth quarter, pulling the country out of its longest recession on record. The Office for National Statistics said "the increase in output was due mainly to increases in distribution, hotels and restaurants and government and other services." The service industry which makes up 76 percent of the country's GDP, grew 0.1 percent on the quarter. But as Bloomberg reports, the growth of 0.1 percent was much smaller than most analysts had expected: "It's clearly disappointing," Simon Hayes, chief U.K. economist at Barclays Capital and a former Bank of England official, said in a telephone interview. "The recovery is going to be uneven. I think the Bank of England will halt quantitative easing in February, but if we don't see sustained growth it's likely we may see them extend it in the middle of the year." The U.K. economy shrank 4.8 percent in 2009, the biggest drop since records began in 1949. The latest S&P Case Shiller index shows that home prices in 20 major U.S. cities fell 5.3 percent year over year in November. It's hard to find bright spot in these numbers but the index tries: "[this] is the third consecutive month these statistics have registered single digit declines, after 20 consecutive months of double digit declines." Only five markets in the index saw price increases in November while four cities, Charlotte, Las Vegas, Seattle and Tampa posted new record lows. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 26 Jan 2010 | 6:44 am Cholesterol is Good in Your Brain
Source: Business Pundit | 26 Jan 2010 | 4:36 am
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