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Toshiba 3Q losses shrink as chip business recovers (AP)AP - Toshiba Corp. said Friday it booked a much smaller loss in the October-December quarter than a year earlier, due a recovery in its electronic components business.Source: Yahoo! News: Business News | 29 Jan 2010 | 3:26 am Eurozone jobless rate at 10%Unemployment in the eurozone hit 10% in December for the first time since the single currency was introduced, figures show.Source: BBC News | Business | World Edition | 29 Jan 2010 | 3:26 am Eurozone unemployement hits 10% (AFP)
Source: Yahoo! News: Business News | 29 Jan 2010 | 3:25 am House prices start year with riseUK house prices rose by 1.2% in January and could soon rise at a rate of 10% a year, the Nationwide says.Source: BBC News | Business | World Edition | 29 Jan 2010 | 3:21 am Davos: Darling tells bankers to stop the self-pityAlistair Darling entered into head-on conflict with the City today as he told bankers to "stop feeling sorry for themselves" and instead work with the Government to rebuild the battered financial system. Source: Latest Business News from Times Online | 29 Jan 2010 | 3:12 am When Stocks No One Cares About Rise: The Deindustrialisation Of AmericaShares in almost every major American company on the most actives list fell and in some cases fell sharply on the 28th. The stock of Qualcomm (NASDAQ:QCOM), the largest handset chip maker in the world, dropped 14%, after reporting tepid results. Ford (NYSE:F), which released extraordinary quarterly numbers, sold off despite signs that its turnaround [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Jan 2010 | 3:10 am Congress probes Toyota recalls as impact spreads (Reuters)
Source: Yahoo! News: Business News | 29 Jan 2010 | 3:08 am Congress probes Toyota recalls as impact spreadsWASHINGTON/TOKYO (Reuters) - Toyota Motor Corp faced scrutiny from Congress over its biggest ever safety recall as investors, suppliers and consumers weighed the impact of an unprecedented halt in U.S. production by the No.1 automaker.Source: Reuters: Business News | 29 Jan 2010 | 3:08 am Infineon swings to quarterly profit; lifts viewInfineon Technologies AG, Europe’s second-largest chipmaker, swings to a first-quarter profit and doubles its sales guidance for the year.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 3:06 am Asian markets decline, capping January with lossesMost Asian markets decline Friday as a sharp overnight fall on Wall Street triggers a renewed bout of risk aversion.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 3:05 am Obama retools tax credit idea for creating jobs (AP)
Source: Yahoo! News: Business News | 29 Jan 2010 | 3:04 am Asia hit hardest by global move from riskWorries about the impact of monetary tightening in China on a fragile global economy has been a central theme for investors from New York to Tokyo, and Asian markets finished the last trading day of January in miserable formSource: Financial Times - US homepage | 29 Jan 2010 | 3:03 am Hurt by recalls, Toyota expected to lose US sales (AP)
Source: Yahoo! News: Business News | 29 Jan 2010 | 3:00 am Cell phone dead? Buy a chargePaul King was headed to the airport in Pittsburgh in 2006 when he suffered an ill-timed communications blackout. His cell phone died -- and the Carnegie Mellon student realized he still had his roommate's house key in his pocket.Source: Business and financial news - CNNMoney.com | 29 Jan 2010 | 2:52 am Davos leaders, CEOs debate climate change moves (AP)
Source: Yahoo! News: Business News | 29 Jan 2010 | 2:47 am See a therapist for a lot lessAnyone who's ever sought mental-health treatment knows how quickly the bills for such care can add up, even with insurance. Just what the doctor didn't order: money anxiety on top of whatever else you're facing.Source: Business and financial news - CNNMoney.com | 29 Jan 2010 | 2:46 am Davos 2010: Alistair Darling pledges to crack down on proprietary trading at banksThe Chancellor pledges to squeeze banks which rely too heavily on proprietary trading, signals support for a permanent Obama-style tax.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Jan 2010 | 2:45 am Asian markets resume slide; Europe stocks gain (AP)
Source: Yahoo! News: Stock Markets News | 29 Jan 2010 | 2:42 am Asian markets resume slide; Europe stocks gain (AP)
Source: Yahoo! News: Business News | 29 Jan 2010 | 2:42 am London Markets: Bank sector advance helps FTSE 100 to gainBritish stocks rise on the last trading day of January, helped by gains for lenders Barclays and Standard Chartered.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 2:40 am Stocks set for early gainsU.S. stocks were set to open higher Friday as upbeat earnings and Fed Chairman Ben Bernanke's confirmation helped improve the mood after the previous session's big selloff.Source: Business and financial news - CNNMoney.com | 29 Jan 2010 | 2:37 am Asia hit hardest by global move from risk09:30 GMT. Asian stock markets finished the last trading day of January in miserable form with the region recording its worst weekly decline since its March nadir. The tumble suggests that the...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 2:33 am BP appoints Paul Anderson to Sir Tom McKillop vacancyBP began a sweeping boardroom shake-up today with the appointment of Paul Anderson, formerly of BHP Billiton, the mining giant, as a non-executive director to replace Sir Tom McKillop, the ex-RBS chairman who was forced to leave the board last year after the collapse of the bank. Source: Latest Business News from Times Online | 29 Jan 2010 | 2:32 am Official: Russia tests 5th-generation fighter jet (AP)
Source: Yahoo! News: Business News | 29 Jan 2010 | 2:25 am Blair faces first cross-examination on IraqTony Blair is well practised in dealing with allegations of deceit over the invasion of Iraq. But if he is exposed at the Chilcot inquiry into the war it might be because of the chasm between his global ambitions and Britain’s long-waning powerSource: Financial Times - US homepage | 29 Jan 2010 | 2:23 am Toshiba curbs loss on chip salesToshiba makes a smaller-than-expected loss in the three months to the end of December due to a recovery in its electronic components business.Source: BBC News | Business | World Edition | 29 Jan 2010 | 2:18 am TPV Technology requests trading halt in HKThe world's largest maker of computer monitors in terms of shipments fuels speculation that a move may be underway to privatize the company.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 2:08 am Economic Report: Reserve Bank of India begins monetary tighteningThe Reserve Bank of India increases commercial banks’ cash reserve ratio by a higher-than-expected 75 basis points to 5.75%, signaling its intent to roll back its easy monetary policy stance as inflationary pressures rise.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 2:08 am Microsoft profit soars 60%Microsoft posted quarterly profit and revenue Thursday that soared from a year ago, driven by sales of Windows 7, the company's newest operating system, which was released in October.Source: Business and financial news - CNNMoney.com | 29 Jan 2010 | 2:01 am Ben Bernanke gets a second termFederal Reserve Chairman Ben Bernanke was confirmed for a second term Thursday by the U.S. Senate.Source: Business and financial news - CNNMoney.com | 29 Jan 2010 | 2:00 am Texting bans don't lower crash rates - studyState laws that ban hand-held cell phone use and texting while driving seem to be having no effect on crash rates according to a study released Friday, and that's confounding the experts.Source: Business and financial news - CNNMoney.com | 29 Jan 2010 | 1:59 am Asian markets resumes slide; Europe stocks gainAsian stock markets dropped sharply Friday as disappointing company forecasts and growing concerns about debt-laden European nations shook investor hopes for a quicker global recovery....Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:55 am Media Digest 1/29/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Congress will probe the Toyota (NYSE:TM) recalls. Reuters: Samsung said chip and TV demand is strengthening. Reuters: Some AIG (NYSE:AIG) employees are open to cuts in retention pay. Reuters: Obama plans to spend $33 billion for job incentives. Reuters: Microsoft (NASDAQ:MSFT) beat expectations on strong sales of Windows 7. Reuters: Amazon (NASDAQ:AMZN) did better than Wall St. expectations and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Jan 2010 | 1:53 am Europe Markets: Autos, tech stocks bouy European sharesBMW and Infineon Technologies climb on Friday, as earnings reports help the broader market to retake some ground lost in recent sessions.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 1:51 am Obama: Here's $5,000. Go hire someone.When President Obama called last month for a new tax break to spur job creation, critics blasted him for offering no specifics. On Friday, Obama plans to fill in the details: He wants to give businesses a $5,000 tax credit for each net new employee they hire this year.Source: Business and financial news - CNNMoney.com | 29 Jan 2010 | 1:50 am US Congress to investigate Toyota after 19 deathsThe US House of Representatives has announced an investigation into Toyota’s faulty accelerator pedals and other problems that may have caused 19 deaths over the past decade and triggered a global recall of nearly eight million vehicles. Source: Latest Business News from Times Online | 29 Jan 2010 | 1:43 am Greece part of unfolding sovereign debt storyGlobal investors worldwide are starting to pay more attention to what is unfolding in Greece. Yet most still think of Greece as an isolated case, just as they did for Dubai a few months ago. With...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:35 am Jon Friedman's Media Web: 'Game Change' reveals Palin, Hillary, Obama'Game Change,' Mark Halperin and John Heilemann’s No. 1 bestseller about the 2008 presidential campaign, is the most exciting book on the political scene to emerge since 'All the President’s Men,' writes Jon Friedman.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 1:35 am Stock futures signal gains; Microsoft eyed(Reuters) - Stock index futures pointed to a flat to higher open on Wall Street on Friday, with futures for the S&P 500 up 0.2 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.4 percent at 3:17 a.m..Source: Reuters: Business News | 29 Jan 2010 | 1:31 am Stock futures signal gains; Microsoft eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 29 Jan 2010 | 1:31 am Thomas Kostigen's Ethics Monitor: Supreme Court empowers corporationsCorporations cannot vote, yet they have a better chance of getting someone elected than any citizen, writes Thomas Kostigen.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 1:30 am Asia Markets And Europe Open (1/29/2010)Markets in Asia fell. The Nikkei was off 2.1% to 10,198. Toyota (NYSE:TM) dropped more on recall news. The Hang Seng fell 1.2% to 20,122. The Shanghai Composite was down by .2% to 2,989. At the open in Europe, the FTSE was up .7% to 5,180. The Dax rose .9% to 5,591. The CAC 40 was up .8% to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Jan 2010 | 1:27 am Samsung jumps back to profit in 4th quarterSamsung Electronics Co. returned to profit in the fourth quarter as demand for flat screen televisions and mobile phones helped push sales to a record high, underlining Samsung's rise to...Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:24 am Samsung jumps back to profit in 4th quarter (AP)
Source: Yahoo! News: Business News | 29 Jan 2010 | 1:24 am India bids to contain inflationIndia's central bank holds interest rates but increases cash reserve requirements for lenders in a bid to contain inflation.Source: BBC News | Business | World Edition | 29 Jan 2010 | 1:24 am Samsung Elec bullish on TV, chip demand in 2010SEOUL (Reuters) - Samsung Electronics expects rapidly recovering demand for its premium computer memory chips and flat screen TVs to drive growth this year, with the unwinding of global stimulus measures the key risk for sales.Source: Reuters: Business News | 29 Jan 2010 | 1:21 am In Davos, climate change takes forefrontMore than a month since the U.N. climate change talks in Denmark ended without definitive agreement, protecting the environment is the top issue at the World Economic Forum. Climate...Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:17 am BMW says 2009 sales slide by 4.7 percentThe German group BMW said Friday that 2009 sales slipped by 4.7 percent as the luxury car market was hit by the global recession, but added it expected to sell more than 1.3 million autos...Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:16 am German Henkel reports surge in 2009 core earningsThe German chemical and cosmetics group Henkel, maker of Persil soap powder, reported on Friday that its core earnings jumped last year and that the 2010 outlook was good as well. ...Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:14 am Easyjet appoints EMI Music executive Chris Kennedy as finance directorEasyJet, the low-cost airline, on Friday said EMI Music executive Chris Kennedy would become its new finance director, ending the carrier's 9-month search to fill the role.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Jan 2010 | 1:12 am Asia shares slide on resources, euro zone woesHONG KONG (Reuters) - Stocks in Asia tumbled on Friday, hurt by weak technology and resources shares and fresh worries about Greece's debt levels, which dragged the euro to a six-month low...Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:08 am Currencies: Dollar gains ahead of U.S. GDP dataThe dollar rises in the wake of broad declines among the world’s major stock markets with upcoming economic data in the U.S. likely to provide guidance for its next move.
Source: MarketWatch.com - Top Stories | 29 Jan 2010 | 1:07 am DAVOS-EU's Almunia:no chance Greece default, euro zone exitDAVOS, Switzerland, Jan 29 (Reuters) - The European Union monetary affairs chief said on Friday that there was no risk that Greece would default or leave the euro zone.Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:05 am Royal Mail's Adam Crozier to put his stamp on ITVITV poached Adam Crozier, the head of Royal Mail, to be its chief executive yesterday. Source: Latest Business News from Times Online | 29 Jan 2010 | 1:05 am Davos Day 3: All the latest news from Davos1007 GMT: More on Mr Sands from Helen Power, our Mergers and Acquisitions Correspondent, who observes that, after enjoying a special showing of Avatar, James Cameron's 3-D cinematic spectacular last night, the Standard Chartered chief was still partying with his wife in the Belvedere at 1am, before rising early to host a 7.30am breakfast before his meeting with Mr Darling. Source: Latest Business News from Times Online | 29 Jan 2010 | 1:02 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 | 29 Jan 2010 | 1:01 am OncoTherapy Science -9-mth group results9 months ended 9 months ended Year toSource: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:00 am Grape growing, fish protection clash in CaliforniaGrape growers in Northern California's cool, fertile Sonoma County wine region are stomping mad at a new plan to limit the water that vineyards can pump from local rivers and streams to...Source: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 1:00 am 2011 BMW 535i: Everything you want, except funWith tranquilizing syrup poured over every gear change, the car feels a little remote and unfamiliar, with just a dram more Novocain in it than I'd prefer.The one thing you can be sure of when you walk out of a BMW news conference is that you'll have plenty of information. Your head aches from it. Your ears ring with it. Your jaws are sore from swallowing it whole like a snake.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am New court victory for Broadcom co-founder Henry Nicholas as drug charges are droppedAt prosecutors' request, a judge dismisses drug distribution charges against the billionaire, ending a case full of scandalous accusations. Civil lawsuits against Nicholas also are thrown out.Launched amid titillating allegations of drug abuse, illicit sex and ill-gotten gains, the federal government's prosecution of Broadcom Corp. executives came to a whimpering conclusion Thursday when a judge threw out the remaining charges against company co-founder Henry T. Nicholas III.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am In a spirited finish, Ford ends 2009 with $2.7 billion in profitU.S. sales rise 13% in the fourth quarter. CEO Alan Mulally says the automaker, which posted its first full-year profit since 2005, is on 'a path toward profitable growth.' ...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am New court victory for Broadcom co-founder Henry Nicholas as drug charges are droppedAt prosecutors' request, a judge dismisses drug distribution charges against the billionaire, ending a case full of scandalous accusations. Civil lawsuits against Nicholas also are thrown out. ...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am Kindle not ready to surrender to iPadAdvocates wary of the Apple device say Amazon.com's e-reader has its new rival beat on battery life, weight, cost and reading experienceWhen Apple Inc. Chief Executive Steve Jobs showed off the new iPad -- complete with built-in bookstore -- on Wednesday he praised Amazon.com Inc. for pioneering the electronic book business with its popular Kindle reading device.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am Obama seeks tax credits for companies that hire new workersDesigned to help small businesses, two proposals would reward companies for hiring new workers and for giving pay raises or increasing the hours of existing workers.Acting quickly on a pledge in his State of the Union address, President Obama today will unveil a proposal to give a tax credit of up to $5,000 to companies for every new employee they add to their payrolls this year.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am In a spirited finish, Ford ends 2009 with $2.7 billion in profitU.S. sales rise 13% in the fourth quarter. CEO Alan Mulally says the automaker, which posted its first full-year profit since 2005, is on 'a path toward profitable growth.'Ford Motor Co. posted a profit of $2.7 billion for 2009, a dramatic turnaround for the company, which weathered one of the worst years in the history of the automotive industry in comparatively good health.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am Obama seeks tax credits for companies that hire new workersDesigned to help small businesses, two proposals would reward companies for hiring new workers and for giving pay raises or increasing the hours of existing workers. ...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am New rule affects homeowners in foreclosure avoidance programThose seeking to ease their mortgage terms must now document their finances before a trial modification will be granted, the Obama administration says. Loan servicers must adopt the policy by June 1. ...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am Stocks drop as jobs, manufacturing data disappointNEW YORK -- Stocks fell sharply Thursday as investors absorbed more evidence of a troubled economy.Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am Comcast denies that NBC Universal deal would hurt competitionIn a filing with the FCC, the cable giant says it doesn't expect the $30-billion takeover to significantly change the media landscape. ...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am Capitol Hill adds to pressure on ToyotaA House panel sets a hearing on how the automaker has dealt with complaints of sudden acceleration.The pressures on auto giant Toyota Motor Corp. continued to mount on several fronts Thursday, including in Congress, where a panel scheduled hearings into the automaker's handling of complaints that its vehicles could suddenly accelerate out of control.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am Comcast denies that NBC Universal deal would hurt competitionIn a filing with the FCC, the cable giant says it doesn't expect the $30-billion takeover to significantly change the media landscape.Cable giant Comcast Corp., in a filing with the Federal Communications Commission seeking regulatory approval of its $30-billion deal to take control of General Electric's NBC Universal, said it didn't expect the transaction to significantly change the media landscape.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am Bernanke gets a second term as Fed chairmanIn a hard-won victory for President Obama, the Senate votes 70 to 30 to keep the central bank chief for four more years. Senators put market stability ahead of populist anger at Wall Street. ...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am Bernanke gets a second term as Fed chairmanIn a hard-won victory for President Obama, the Senate votes 70 to 30 to keep the central bank chief for four more years. Senators put market stability ahead of populist anger at Wall Street.The Senate, putting market stability ahead of populist anger at Wall Street, voted Thursday to give Federal Reserve Chairman Ben S. Bernanke a second four-year term as head of the nation's central bank.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am New rule affects homeowners in foreclosure avoidance programThose seeking to ease their mortgage terms must now document their finances before a trial modification will be granted, the Obama administration says. Loan servicers must adopt the policy by June 1.Taking borrowers at their word for how much they earn was a major cause of the mortgage meltdown. That practice may also be why an Obama administration program has struggled to convert temporary loan modifications into permanent ones.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am Teachers pension fund is $43 billion shortThe California State Teachers' Retirement System says that as of June 30, 2009, it could meet only an estimated 77% of its future pension obligations -- far less than the 100% recommended by actuariesAnother pension alarm bell is ringing in Sacramento, this time at the teachers retirement system, where the nation's second-largest public pension fund is reporting a $43-billion shortfall.
Source: L.A. Times - Business | 29 Jan 2010 | 1:00 am 2011 BMW 535i: Everything you want, except funWith tranquilizing syrup poured over every gear change, the car feels a little remote and unfamiliar, with just a dram more Novocain in it than I'd prefer. ...Source: RSS feed - channel BNPaperBusiness | 29 Jan 2010 | 1:00 am UPDATE 2-Daiichi Sankyo Q3 profit up, outlook lifted* Stock down 3 pct, hopes for blood thinner Effient not metSource: RSS feed - channel BNewsBusiness | 29 Jan 2010 | 12:58 am House price rise set to reach double digitsHouse prices rose by 8.6 per cent in January, compared with the same month last year, raising hopes that annual inflation will soon reach double digits for the first time in almost three years. Source: Latest Business News from Times Online | 29 Jan 2010 | 12:58 am Marston's sales hit by big freeze in January after strong ChristmasMarston's, the British pubs group, said sales grew over Christmas and New Year, driven by strong food sales, but fell in January when they were affected by bad weather.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Jan 2010 | 12:58 am Debenhams names ex-Gallaher boss as chairDebenhams, the department store chain, announced today that Nigel Northridge, the former chief executive of Gallaher, the maker of Benson & Hedges cigarettes, will become its new chairman to replace John Lovering. Source: Latest Business News from Times Online | 29 Jan 2010 | 12:51 am $1bn taskHow world's best finance brains would invest $1bnSource: BBC News | Business | World Edition | 29 Jan 2010 | 12:49 am British consumer confidence rises in January, GfK surveyConsumer confidence in Britain rose in January, driven by improving optimism over the outlook for the economy and personal finances, a survey by GfK NOP for the European Commission showed on Friday.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Jan 2010 | 12:44 am Samsung sees profit on TV salesSamsung reports strong profits in the fourth-quarter of 2009 thanks to increased sales of flat screen televisions and mobile phones.Source: BBC News | Business | World Edition | 29 Jan 2010 | 12:32 am Amazon and Microsoft profits buoyed as consumers returnAmazon and Microsoft boosted quarterly profits by 71pc and 60pc respectively as the two technology giants welcomed the long-awaited return of the US consumer.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Jan 2010 | 12:30 am EU signals last-resort backing for GreeceBrussels makes clear it will not abandon Greece and let its debt crisis jeopardise the eurozone, as Germany and France play down suggestions they had already formulated a rescue planSource: Financial Times - US homepage | 29 Jan 2010 | 12:22 am House prices rise at fastest pace in five months, says NationwideHouse prices jumped at their sharpest pace in five months in January, taking the annual rate of increase to a two-year high.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Jan 2010 | 12:13 am Asian stock markets fall on Greek debt fearsAsian stock markets dropped as disappointing company forecasts and growing concerns about debt-laden European nations shook investor hopes for a quicker global recovery.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 11:55 pm Telecom XT users face wait for compo newsThousands of Telecom XT mobile customers who have had their service cut off since Wednesday morning will have to wait until next week to hear news of compensation, the company's chief executive said today.The problem had affected...Source: nzherald.co.nz - Business | 28 Jan 2010 | 11:52 pm Get out of jail card for with-profits policyholdersThe 10-year anniversary could offer savers a penalty-free exit.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 11:43 pm Toshiba keeps outlook, still waryTOKYO (Reuters) - Toshiba Corp , Japan's biggest chipmaker, kept its outlook below market estimates on rising materials costs and tumbling TV and PC prices after posting a smaller-than-expected operating profit.Source: Reuters: Business News | 28 Jan 2010 | 11:34 pm Toyota and other major product recallsToyota has recalled a futher one million cars in the United States, a big blow for its reputation. We look at other major product recalls.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 10:41 pm Oil hovers below $74 as traders eye dollar, stocks (AP)
Source: Yahoo! News: Business News | 28 Jan 2010 | 10:14 pm Economy likely grew 4.6 percent in 4th quarterWASHINGTON (Reuters) - The U.S. economy likely grew at its fastest pace in nearly four years in the fourth quarter as businesses made less-aggressive cutbacks on inventories, a government report is expected to show on Friday.Source: Reuters: Business News | 28 Jan 2010 | 10:09 pm Home heating scheme woes probedMPs ask why some pensioners and vulnerable people were left with no heating this winter, despite a government scheme.Source: BBC News | Business | World Edition | 28 Jan 2010 | 9:28 pm McDonald's to up China cap investment by a quarterSHENZHEN (Reuters) - McDonald's Corp , the world's largest hamburger chain, said it expects to boost its capital investment in China by about a quarter this year to tap the growth of the world's third-largest economy.Source: Reuters: Business News | 28 Jan 2010 | 8:34 pm Samsung takes top spot from HPOnce dismissed as a copy-cat manufacturer, the South Korean group has overtaken its US rival as the biggest technology company by salesSource: Financial Times - US homepage | 28 Jan 2010 | 8:09 pm New bank rules could keep rate hikes to a minimum: BollardReserve Bank of New Zealand Governor Alan Bollard says new liquidity rules for lenders, which come into effect in April, will restrict their access to cheap wholesale funding, helping damp credit growth and reducing the need to hike...Source: nzherald.co.nz - Business | 28 Jan 2010 | 8:00 pm Scavenger hunt becomes e-commerce ventureAn Auckland building manager, constantly on a scavenger hunt, has set up a trading website that helps people trade free goods online.Philip Sola is a building manager at a Queen Street apartment complex and has started the website...Source: nzherald.co.nz - Business | 28 Jan 2010 | 7:30 pm Jail threat only way to deter business cartels, says lawyerCriminalising cartels may be the only way to deter some businesspeople from engaging in cartel behaviour, says a prominent litigator.A Ministry of Economic Development Source: nzherald.co.nz - Business | 28 Jan 2010 | 7:00 pmBetter Crown accounts but restraint still needed - EnglishA slight improvement in the Crown accounts is good news but Finance Minister Bill English says ongoing restraint is still vital.Labour finance spokesman David Cunliffe said his party had played a role in the recovery.Treasury...Source: nzherald.co.nz - Business | 28 Jan 2010 | 6:30 pm Telecom subsidiary boss fronts customers over XT outagesTelecom subsidiary Gen-I has fronted up to business clients in an online discussion this afternoon.Chief executive Chris Quin addressed about 200 customers online who asked about reliability and when the XT network would be fully...Source: nzherald.co.nz - Business | 28 Jan 2010 | 6:30 pm Developed market funds suffer investor redemptionsNEW YORK (Reuters) - Investor concern about tightening lending conditions in China and deteriorating finances in Greece and Japan led them to pull cash out of developed market equity funds for debt funds in the week ended January 27, fund tracker EPFR Global said late on Thursday.Source: Reuters: Business News | 28 Jan 2010 | 6:27 pm Windows 7 fires up MicrosoftStrong sales of Windows 7 pushed Microsoft to record second quarter revenues, even as its other business units sufferedSource: Financial Times - US homepage | 28 Jan 2010 | 5:49 pm Bernanke wins new term as Fed chiefBen Bernanke won a confirmation vote in the US Senate, giving him another four-year term as chairman of the Federal Reserve after a debate that underscored the political and economic challenges that lie aheadSource: Financial Times - US homepage | 28 Jan 2010 | 5:42 pm Microsoft profit beats on strong Windows 7 salesSEATTLE (Reuters) - Microsoft Corp posted a bigger-than-expected 60 percent jump in quarterly profit, helped by strong sales of Windows 7, and said it expected business technology spending to recover this year.Source: Reuters: Business News | 28 Jan 2010 | 5:40 pm Wal-Mart seeks efficiency in new U.S. structureSAN FRANCISCO (Reuters) - Wal-Mart Stores Inc is consolidating some U.S. operations and dividing the country into three regions under separate presidents to increase efficiency at more than 3,700 domestic stores.Source: Reuters: Business News | 28 Jan 2010 | 5:17 pm Over a million British drivers warned of Toyota faultMore than a million Toyota owners in Britain have been told that their cars may have a potentially dangerous defect. Source: Latest Business News from Times Online | 28 Jan 2010 | 5:01 pm New cargo planesThree arrive - but does anybody want them?Source: BBC News | Business | World Edition | 28 Jan 2010 | 5:01 pm Flexible 'friend'?Christmas credit leads to consumers cutting up the cardsSource: BBC News | Business | World Edition | 28 Jan 2010 | 5:01 pm Greece berates the speculators for using it as a ‘weak link’ in attack on eurozoneThe Greek Prime Minister accused speculators of targeting the country as a “weak link” in the euro yesterday, as the value of Greek bonds plunged on financial markets. Source: Latest Business News from Times Online | 28 Jan 2010 | 5:01 pm Tate & Lyle investors should try to ignore the sour tasteIt will be at least another four months before shareholders in Tate & Lyle hear the strategic pronouncements of Javed Ahmed, its new chief executive. Source: Latest Business News from Times Online | 28 Jan 2010 | 5:01 pm Thought-leaders on the magic mountainJust as New Zealand investors are now officially feeling upbeat and the kids discover a touching faith in KiwiSaver , over aSource: nzherald.co.nz - Business | 28 Jan 2010 | 5:00 pm Yet another try at foreclosure rescueUnder fire for the low number of people receiving long-term mortgage help, the Treasury Department on Thursday announced new guidelines that will require applicants to provide all paperwork before getting a trial modification.Source: Business and financial news - CNNMoney.com | 28 Jan 2010 | 4:59 pm Strong festive trading at AmazonProfits at online retail giant Amazon leap by 71% as shoppers spent more than ever during the festive season.Source: BBC News | Business | World Edition | 28 Jan 2010 | 4:58 pm Write-Offs: 01.28.10$$$ Morgan Stanley looking into legal action against ZeroHedge [Greenwich Time] $$$ Frog Named For ADM's Appleby [FINalternatives] $$$ JPMorgan Names Black Vice-Chairman [Reuters] $$$ Happy Days Aren't Here Again [DealBook] 
 Source: Dealbreaker | 28 Jan 2010 | 4:55 pm Apple unveils iPad. Your move, AmazonWhy would anyone buy a Kindle for $279 when they can have an iPad for $499?Source: Business and financial news - CNNMoney.com | 28 Jan 2010 | 4:30 pm Big support for Auckland Airport share offerMore than 99 per cent of eligible institutional shareholders have taken up Auckland Airport's 1 in 16 share offer, the company said today.The airport company (AIA) said it had raised about $69.4 million through the offer, receiving...Source: nzherald.co.nz - Business | 28 Jan 2010 | 4:30 pm Exports down for fourth quarter in a rowMilk powder, butter, and cheese, and crude oil have dominated a $9.2 billion, or 2.8 per cent, fall in exports in the December quarter, says Statistics New Zealand.The overseas merchandise trade figures, seasonally adjusted and...Source: nzherald.co.nz - Business | 28 Jan 2010 | 4:30 pm Geithner: 'I'll carry the burden' of AIG foreverA day after facing furious lawmakers on Capitol Hill, Treasury Secretary Tim Geithner told CNN on Thursday that he would forever "carry the burden" of the decision to bail out AIG but defended it as the government's only option.Source: Business and financial news - CNNMoney.com | 28 Jan 2010 | 4:26 pm Disappointing tech forecasts drag stocks lower (AP)
Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 4:23 pm Oil Refiners, McKesson, ITT, Commodities: Taking StockSource: Bloomberg - All Podcasts | 28 Jan 2010 | 4:21 pm Thomas Winmill on Gold Exchange-Traded Funds: AudioSource: Bloomberg - All Podcasts | 28 Jan 2010 | 4:14 pm JPMorgan to launch global corporate bank unitJPMorgan Chase is launching a global business aimed at selling loans and commercial banking services to multinational corporations, pitting the US bank against Citigroup and HSBCSource: Financial Times - US homepage | 28 Jan 2010 | 4:04 pm Bond Fund Inflow Sets Annual Record (Investor's Business Daily)Investor's Business Daily - Investors yanked $3.86 billion out of stock funds in December, while stuffing $26.13 billion into bond funds.Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 4:02 pm House consents keep rising in DecemberThe trend for the number of new home consents continued to rise in December 2009, Statistics New Zealand said today.The trend for new housing has been increasing since March 2009, although the level is still lower than it was...Source: nzherald.co.nz - Business | 28 Jan 2010 | 4:00 pm How the major stock indexes fared on Thursday (AP)AP - The stock market resumed its slide Thursday as disappointing forecasts from technology companies brought new concerns about the economy. A weaker outlook from technology maker Qualcomm dragged the Nasdaq composite index lower. Drops in Motorola and Apple also hurt tech stocks. The Dow Jones industrial average fell almost 116 points, its sixth loss in nine days.Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 3:51 pm Davos 2010: Alistair Darling flags up divisions over global bank reformAlistair Darling dismisses US plans to break up the banks as ineffective and missing the point.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 3:47 pm Geithner urges more progress on job growthMINNEAPOLIS (Reuters) - Treasury Secretary Timothy Geithner joined other Obama administration officials on Thursday who fanned out across the country to talk up prospects for brighter hiring prospects as recovery sets in.Source: Reuters: Business News | 28 Jan 2010 | 3:29 pm Forbes' Favorite Billionaires
Check out who else made the list. Anyone overlooked?
Source: Dealbreaker | 28 Jan 2010 | 2:46 pm Jones Apparel, Qualcomm, Symantec, 3M big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 2:42 pm Amazon Delivers, But Why a $2 Billion Buyback? (AMZN)Amazon.com Inc. (NASDAQ: AMZN) has just reported earnings of $0.85 EPS and $9.52 billion in revenues. Thomson Reuters had estimates of $0.72 EPS and $9.04 billion. The company sees $6.45 billion to $7 billion in revenues for the coming quarter with operating income of $275 million to $365 million. We have estimates from Thomson Reuters [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Jan 2010 | 2:25 pm Microsoft Beats, But Leaves Little New (MSFT)Microsoft Corporation (NASDAQ: MSFT) has just reported earnings of $0.74 on the headline and $0.60 EPS for non-GAAP earnings and $19.02 billion in revenues. The estimates from Thomson Reuters were $0.59 EPS and $17.84 billion in revenues. The reason for the discrepancy on the surface was $0.14 items on Windows 7 deferred revenues. As far as [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Jan 2010 | 2:15 pm Ben Back In
Federal Reserve Chairman Ben Bernanke. (Mark Wilson/Getty Images) By Caitlin Kenney The Senate has confirmed Ben Bernanke for a second four-year term at the head of the Federal Reserve by a vote of 70 to 30. The final confirmation vote came after intense lobbying by President Obama and Senate Democratic leaders. The senators needed 60 votes to overcome efforts to block the nomination. A Fed chairman nominee has never been rejected by the Senate, but the vote for Bernanke was the closest ever. When Bernanke was first nominated in 2005, he was confirmed easily with a voice vote in the Senate. Prior to Bernanke's confirmation, the closest voting margin was 84-16, for Paul Volcker 's second term in 1983. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Jan 2010 | 2:13 pm 52-Week High Club (ALGN, GLTX, SOA)Align Technology Inc. (NASDAQ: ALGN) rose over 15.5% to a yearly high of $19.25 after the maker of teeth straightening technology forecast first quarter earnings of $0.12 or more, topping analyst estimates. Gentex Corporation (NASDAQ: GNTX) rose over 14.4% to a yearly high of $20 after the maker of vehicle mirrors reported 4Q earnings that beat [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Jan 2010 | 2:01 pm Senate Stickin With Beard
Source: Dealbreaker | 28 Jan 2010 | 2:00 pm Presented By:Source: Dealbreaker | 28 Jan 2010 | 2:00 pm Wall Streeters Demand Equal Rights, Respect
Things had gotten entirely too annoying. First it was White House (and populist) complaints about Wall Street recklessness and greed (humongous bonuses). Now it was White House desire to attach new regulations and taxes to banks. Enough!
Source: Dealbreaker | 28 Jan 2010 | 1:40 pm Davos Attendees Pissed About Lack Of Free Booze
Nope. None of those trivialities. What people are really angry about is that this year -just like last - there won't be a wine tasting, which has historically been the "highlight of the forum."
Source: Dealbreaker | 28 Jan 2010 | 12:51 pm Apple faces legal scrap over iPad trademarkThe computer maker could face a legal battle with Fujitsu and St Micro before it can use the ‘iPad’ name for its new tablet computerSource: Financial Times - US homepage | 28 Jan 2010 | 12:31 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Thursday:Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 12:31 pm Potash/Fertilizer Credibility Loss on Earnings and Pricing (POT, MOS, AGU, MOO)Potash Corp. (NYSE: POT) has been one of the amazing companies in an amazing sector, or at least it was back when the developing world was moving from one meal to two meals a day. The leaders in this sector have been given the doubt over and over after each disappointing earnings report. We have [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Jan 2010 | 12:30 pm The Fruits Of Shia LaBeouf's Labor
Source: Dealbreaker | 28 Jan 2010 | 12:10 pm Depraved Reuters Reporter Violates Stephen Schwarzman, Erin Andrews-StyleWe've written previously about the sick sons of bitches running the smut factory known as the Wall Street Journal. So this is the sort of thing I would expect from them, and not from Felix Salmon or the rest of the gang at Reuters but surprise! I was wrong. After the jump-- I won't put these obscenities on the main page of an upstanding financial publication with standards and good taste-- a moment between unsuspecting Steve Schwarzman and a banana is salaciously captured so perverted little voyeurs like yourself can get off at your desks.
Source: Dealbreaker | 28 Jan 2010 | 11:56 am What Tiger Woods Could Have Learned from Greg Oden
Portland Trail Blazers center Greg Oden recently made a very public appearance–in his birthday suit. On January 26, naked pictures of Greg Oden leaked onto the Internet. Not unheard of in the celebrity world, but unusual for an NBA center. To top it off, Oden mentors kids through Oregon Mentors’ Team ODEN. Oden’s early NBA career has been plagued by injury. Last December, a fractured patella took him out of the court for the rest of the season. Not soon afterwards, the world found out what Oden does with his spare time (besides mentor kids). Greg Oden takes naked pictures of himself. Or he did, over a year ago. He sent them to his girlfriend at the time. They recently surfaced on World Star Hip Hop. One day later, Oden publicly apologized. “I would like to apologize to everybody: Portland, the fans, the organization,” Oden told reporters on January 27. “It was very embarrassing.” Oden’s Brand The pictures of Oden are still up. Granted, the 22-year-old doesn’t exactly have anything to hide. But how will the naked images affect the NBA player’s brand? Here’s part of what makes Oden’s PR strategy tick. The Newb Factor: Oden has only played pro ball for 2 years. At 22 years of age, his professional and sex lives are still an open book. He’s been out with injuries for a good part of his budding NBA career. He is still building his reputation. In a post-Rodman, post-Bryant era, nudie pics are hardly NC-17 behavior. Oden can afford a little scandal. It gives him name recognition. Plus, it can’t hurt to be known as a man of, well, size. Tiger’s Brand Remember Tiger Woods? Who, instead of admitting to the affair the National Enquirer had published, crashed his car into a tree? It took two weeks and implications from 12 women for Tiger to ‘fess up to his affairs. The Legacy: Tiger Woods was a legend. Golf’s golden boy had built an image on skill and integrity. He was a responsible family man, a virtuous role model. Then he went and bagged all those women. The Incursion: Tiger Woods, husband of Swedish supermodel, philanderer extraordinaire. America hates adulterers. We almost impeached one president because of it. A bunch of politicians have stepped down because of it. We hold marriage as a sacred, monogamous, heterosexual institution. That’s some serious weight. Tiger, the All-American Icon, violated it. Multiple times. In American culture, this is a lynch-worthy infarction. Unlike Oden, Tiger messed up. Big time. The Delayed Reaction: Tiger has always been known as a private person. Heck, he named his $20 million yacht Privacy. So when the National Enquirer implications surfaced, he stuck to his usual protocol and kept his mouth shut. Unfortunately, he crashed his car into a tree soon after that. He should have spoken to police at this point. He should have come clean, apologized, hung his head to the media after that. He should have nipped it in the bud. But he didn’t. As a result, his privacy came back to haunt him. What Tiger Could Have Learned from Greg Oden Tiger held on too closely to his tight-lipped PR policy. If he had apologized instantly, the way Greg Oden had, the scandal wouldn’t have reached epic proportions. It would have hurt, yes. He probably still would have lost sponsors. But epic? No. Just painful. Also, Greg Oden is capitalizing on sexy. Granted, he’s a young, single guy with a nascent reputation. Tiger is a father, an icon, a former good guy. But Tiger needs a new image that doesn’t have ruin written all over it. Why not embrace the wildcat, do more of what he did with Annie Leibovitz in February’s Vanity Fair? If the world saw Tiger embracing his inner bad boy, he’d have a new image to work from. Heads would shake, fingers would point, but Tiger would have an image again. He could even play it out for a while, then go good again, kind of like Britney Spears did. America hates adultery, but we have also proven that we are willing to forgive. It’s time for Tiger to learn a little from young’uns like Greg Oden.
Source: Business Pundit | 28 Jan 2010 | 11:47 am Vice-premier defends Chinese policyLi Keqiang, the man poised to become China’s next premier, resolutely defends China’s record in pursuing balanced growth, but shuns contentious topics in his speech at DavosSource: Financial Times - US homepage | 28 Jan 2010 | 11:27 am Peter Madoff: Deaf, Dumb Or StupidTotally forgot about Madoff, what with the AIG hearings, Ben B.'s confirmation and Davos face-offs. But there were news from the Madoff household yesterday, with Peter, Bernie's brother and the firm's former compliance officer, being the subject of a criminal investigation related to the foundation of Senator Frank Lautenberg. We're shocked to learn that Peter's attorney filed a letter to the judge saying that the lawsuit is baseless. But the plaintiffs' attorney won't have it: "The defendant was either knowingly indifferent to the Ponzi scheme, or actually aware of it." Easy, clear, to the point. Why didn't anyone talk to Geithner that way yesterday?
Source: Dealbreaker | 28 Jan 2010 | 11:15 am Bankers get the cold shoulder in DavosThe atmosphere inside the World Economic Forum is warm and congenial. But bankers are feeling the chill wind of disapproval. Stephen Beard reports.Source: Marketplace | 28 Jan 2010 | 11:13 am An air of openness in DavosYoung Global Leader Dan Shapiro talks with Kai Ryssdal about the mood in Davos, the worst part about being there, and why leaders shouldn't forget to listen to their constituents.Source: Marketplace | 28 Jan 2010 | 11:12 am Davos showcases Young Global LeadersEvery year, hundreds of Young Global Leaders go to Davos. These are people under 40 who've risen to the top of their chosen fields. Sean Cole profiles one YGL.Source: Marketplace | 28 Jan 2010 | 11:12 am Corporations are for profit, not politicsThe Supreme Court ruled against restrictions on corporate financing of political campaigns. But commentator Justin Fox says the court's rationale for the ruling misses the mark.Source: Marketplace | 28 Jan 2010 | 11:12 am Man. U bonds fall, Europe investors fretSenior editor Paddy Hirsch talks with Kai Ryssdal about two of the subjects closest to his heart: English football team Manchester United and the bond market.Source: Marketplace | 28 Jan 2010 | 11:12 am Haitian Creole courses may aid recoveryThe needs of Haiti and its people as it tries to rebuild are almost unimaginable. Some colleges are already thinking of long-term help, though. John Dimsdale reports.Source: Marketplace | 28 Jan 2010 | 11:12 am Uninsured will keep health costs upIn his State of the Union speech, President Obama asserted that he's still committed to health insurance reform because he says without it, things will only get worse. Gregory Warner reports.Source: Marketplace | 28 Jan 2010 | 11:12 am Disney Closes Miramax
Disney has shut down Miramax Films, which produced legendary independent films including Pulp Fiction and The English Patient. Crain’s New York Business has more: After months of rumors about its demise, Disney has finally pulled the plug on Miramax. The storied arthouse movie studio, started by Harvey and Bob Weinstein more than 30 years ago and then bought by Disney, is closing its New York and Los Angeles offices and laying off 80 employees, according to Hollywood Web site TheWrap.com. Disney had already taken steps to downsize the movie company. On Oct. 2, Disney announced it was consolidating some of Miramax’s operations and reducing the number of films the label released annually. Shortly after that, Miramax’s president, Daniel Battsek, resigned. The loss of Miramax is a shock to the independent film industry, which has been shrinking rapidly as other large Hollywood studios have shuttered their indie divisions. With hits like Pulp Fiction, Sex, Lies and Videotape, and The English Patient, Miramax dominated the American indie industry for years. Between Miramax and J.D. Salinger, it’s a sad day for art.
Source: Business Pundit | 28 Jan 2010 | 11:12 am Toyota recall highlights supplier issuesToyota has expanded its recall to include another million-plus vehicles. The culprit is an accelerator pedal made by a supplier. Alisa Roth reports.Source: Marketplace | 28 Jan 2010 | 11:12 am Signs Of The Apocalypse: Large Multinationals Layoff Over 60,000 In JanuaryThe large multinational companies were supposed to have done their layoffs during the first half of 2009, when the recession was at its worst. Those layoffs should have cut as close to the bone as possible because of the severity of the downturn. The workers who were left at these companies were probably more productive as [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Jan 2010 | 11:09 am Democrats struggle to salvage healthcareDemocrats were still struggling to salvage their healthcare reform effort, with the prospects for passing legislation remaining bleak despite Barack Obama’s exhortation to Congress not to ‘walk away’ from reformSource: Financial Times - US homepage | 28 Jan 2010 | 11:08 am The Disaster Game’s Bill Ashland Talks Calamities and Business Continuity
Got a continuity plan? If you don’t, every other plan–business, marketing, communications, project, etc.–could be wiped out in an instant. That’s what Bill Ashland is out to prevent. Disasters happen, but disastrous losses aren’t necessary. Ashland, a business continuity expert, created the Disaster Game to help companies prepare for unpredictable events. The game makes you aware of the gamut of scenarios a business could experience as the result of a disaster. As a result, you can recognize and plug the holes in your continuity plan. Plus, you have an excuse to play a game. Business Pundit caught up with Ashland to discuss the idea behind the Disaster Game, who it benefits, and what it has to do with potentially disastrous (media-induced) future scenarios like calamity in the year 2012. BP: How’d you come up with the idea for the Disaster Game? From 2001 through 2008, I ran the Business Recovery portion of the Business Continuity Program at TD Banknorth (now TD Bank). In this role, I worked with the various business lines on the creation, maintenance, and testing of their plans. At it’s peak, I was responsible for more than 200 plans, and the efforts of more than 400 plan owners, builders, and auditors. This led to many “Something happened to your building, what do you do?” or “Something happened to your systems, what do you do?” moments. I spent many nights thinking about ways to make the process more engaging, which led me to think of using game play and the element of chance to build scenarios. In 2007, I presented the concept at a Business Continuity conference, and the response was incredible. The following year, we returned to the conference for our official launch of The Disaster Game. BP: What kinds of companies would benefit most from the game? About 40% of our customer base in is the banking and financial services area, due to the fact that they are the most heavily regulated with regards to preparedness. However, the game is standardized enough to fit almost any organization of any size. Our customers include Xerox, Starbucks, T-Mobile, Wyeth Pharmaceuticals, and the U.S. Treasury, insurance companies, health care organizations, utility providers, emergency management agencies and non-profit groups. We have sold games all over the U.S., as well as Canada, Europe, and Asia. BP: Have you based your exercises on statistical likelihoods of certain events happening, or do you cover the gamut to encourage universal preparedness? The most likely disaster types are included (weather, fires, floods, power failures), as well as public health issues, gunman/hostage situations, terrorism, and more. BP: How could managers use your game in their companies? What kinds of managers would the game target? The corporate edition is targeted for organizations with an active group that focuses on risk management and/or business continuity. It can be used for awareness training, to educate employees about the types of situations they could face and steps that could be taken to mitigate and/or respond to them, as a pre-planning tool to direct planning efforts and get planners into the proper frame of mind, and for the testing and validation of continuity plans. BP: I know that 2012 will gain traction as a trend in the mainstream media over the next couple of years. Do you think that this trend might also garner more interest in the Disaster Game? Can you see any movement in the disaster preparedness industry around 2012? While 2012 will certainly be a hot button topic for mainstream media, it’s impact on business continuity will likely be minimal (since it involves end of the world scenarios which tend to exceed most planning parameters). You may see more attention given to personal and family preparedness, which we also address with our Family Preparedness Edition, as the hype builds up, but again the parameters exceed most planning scopes. I would not be surprised to see an opposite effect in certain areas, where people neglect career and financial responsibilities expecting the end is (really) near. If the world does not end as scheduled, it may create a backlash similar to that seen after the non-events of Y2K, where people treated the next “impending doom” stories with far less credibility. BP: Any other comments? The “big-ticket” disasters garner most of the attention, and 2012 doomsday scenarios make for great media headlines, but disasters come in many shapes and sizes, and impact people on a very personal level every day. A house fire, a job loss, a family member’s illness or injury may not make national headlines, but to the people in the eye of the storm, they are just as devastating. Our mission is to ensure that organizations and individuals know what to do when “What if?” happens to them.
Source: Business Pundit | 28 Jan 2010 | 10:58 am Diaspora Bonds And Haitian AmericansBy Caitlin Kenney Haiti's government offices and banks are still a long way from functioning normally, but that hasn't stopped analysts and economists from suggesting what they should work on once they return. Dilip Ratha, lead economist at the World Bank, is thinking about diaspora bonds: In the past diaspora bonds have been used by Israel and India to raise over $35 billion of development financing (see my article with Suhas Ketkar). Several countries - for example, Ethiopia, Nepal, the Philippines, Rwanda, and Sri Lanka - are considering (or have issued) diaspora bonds recently to bridge financing gaps. Besides patriotism, diaspora members are usually more interested than foreign investors in investing in the home country. Not only Haitians abroad, but also foreign individuals interested in helping Haiti, even charitable institutions, are likely to be interested in these bonds. Offering a reasonable interest rate - a 5% tax-free dollar interest rate, for example - could attract a large number of Haitian investors who are getting close to zero interest rate on their deposits. If 200,000 Haitians in the US, Canada and France were to invest $1,000 each in diaspora bonds, that would add up to $200 million. If these bonds were opened to friends of Haiti, including private charitable organizations, much larger sums can be raised. If the bond rating were enhanced to investment grade rating via guarantees from the multilateral and bilateral donors, then such bonds would even attract institutional investors. Ratha goes on to point out that if you think Haitian immigrants can't afford to invest, you're wrong. From the Current Population Survey of the US: nearly one-third of Haitian immigrants in the US belong to households that earned more than $60,000 in 2009. In comparison, less than 15% of the immigrants from Mexico, Dominican Republic and El Salvador in the US had that level of household income. For more information about Haiti's economics, check out this helpful fact sheet from the World Bank's People Move blog. (Thanks to Marginal Revolution for the pointer.) » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Jan 2010 | 10:32 am NYSE says stock quotes delay issue resolved (Reuters)Reuters - NYSE Euronext , which runs the New York Stock Exchange, said on Thursday it had resolved stock quote delays that affected the NYSE and the NYSE Amex cash markets earlier in the session.Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 10:23 am Tech’s Quadruple Giant Earnings on Deck (AMZN, JNPR, MSFT, SNDK)Today is effectively what we are penning as the crest of earnings season. Things have changed because of the sell-off seen this morning on options trader valuation and implied percentages. We tallied over 60 companies with earnings just of active or large companies, but there are well over 200 reports today alone. After the close [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Jan 2010 | 10:21 am The Mysterious Case of AIG's Schedule A
Source: Dealbreaker | 28 Jan 2010 | 10:20 am The Economy In Pictures
Even 12-year olds know we have a problem. (Denine Hicks) Denine H. from California sends this picture drawn by her son. She writes: My son's 6th grade teacher gave the kids a vocabulary assignment and the word was "issue." He had to give the definition, use the word in a sentence, etc., and draw a picture illustrating the word. When I saw what he had written and drawn, I just knew I had to share it with you! » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 28 Jan 2010 | 9:59 am NPR, Cato Institute Offer State of the Union Fact CheckThe Cato Institute, a libertarian think thank, has a good State of the Union fact check: Here’s another one from May they offer you a balanced view of the SOTU.
Source: Business Pundit | 28 Jan 2010 | 9:49 am Morning Report: A Numbers RoundupBy Caitlin Kenney We've got some new numbers out this morning about durable goods and unemployment claims plus profits from Ford. New orders for durable goods excluding transportation increased 0.9 percent last month. Machinery had the biggest increase of 6 percent or $1.4 billion. Factoring in the drop in transportation, new orders increased 0.3 percent -- the first increase since September. Durable goods orders ended 2009 with a drop of 20.2 percent for the year. Ford announced today that it earned a profit of $2.7 billion in 2009. It's the company's first full-year profit since 2005, and some of its employees will get to share in the bounty. The company has announced profit sharing with 43,000 hourly employees, who could receive on average $450 each. On the jobs front, the number of people filing for unemployment benefits for the first time fell by 8,000 last week, but the number of claims was still higher than most analysts had expected. The four week average, which smooths out the numbers from week to week, also rose for the second week after falling for 19 straight weeks. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Jan 2010 | 8:30 am Joseph Stiglitz: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 28 Jan 2010 | 8:27 am Strossen Discusses Citizens United, Federal Election Case:AudioSource: Bloomberg - All Podcasts | 28 Jan 2010 | 8:25 am Daniel Clifton: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 28 Jan 2010 | 8:23 am Arthur Levitt: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 28 Jan 2010 | 8:19 am Rep. Barney Frank: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 28 Jan 2010 | 8:17 am Harvard's Porter: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 28 Jan 2010 | 8:15 am The Apple Apps The Will Be Huge On The iPad: Games, Games, And More GamesSince the inception of Apple’s (NASDAQ:AAPL) App Store more than 140,000 applications have been produced by thousands of developers. The debut of Apple’s iPad provides a whole new platform for developers to tailor their products to. Apple has developed packages for the iPad available for immediate release, and has indicated that applications designed for the device will be approved soon.. A [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Jan 2010 | 7:56 am Papasavvas on Dollar, Mathias on State of the Union: First WordSource: Bloomberg - All Podcasts | 28 Jan 2010 | 7:20 am Funny Google Search
Source: Business Pundit | 28 Jan 2010 | 4:44 am Global stock markets stage rally (AFP)
Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 4:41 am
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