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Unilever's fourth-quarter profit drops 27%Unilever, a global supplier of foods and personal care products, reports on Thursday a 24% decline in fourth-quarter net profit, warning that it expects ongoing pressure on consumer spending in 2010.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 3:37 am Euro-zone credit worries prove persistentIt’s time for another round of euro-zone sovereign bond whack-a-mole.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 3:33 am Vodafone lifts outlook as sales improveThe world's largest mobile operator by sales ups its annual cash outlook and says profit will come in at the upper end of its forecast range.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 3:33 am Toyota says Prius had brake design problems (AP)
Source: Yahoo! News: Business News | 4 Feb 2010 | 3:31 am Car sales rise 30% amid scrappage extensionCar sales rose by nearly 30 per cent in January, as buyers hurried to benefit from the Government’s car scrappage scheme, which has been extended for an extra month. Source: Latest Business News from Times Online | 4 Feb 2010 | 3:28 am Tax gain helps Deutsche Bank swing to profitThe German bank earns $1.8 billion, boosted by a tax benefit and sharply lower write-downs.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 3:24 am The price of procrastination: $455,000Question: I'm 34 and have yet to begin saving for retirement. I'm considering participating in my company's 401(k) plan, but I'm unsure whether to do so since my employer doesn't match my contribution. What do you advise? --Nikia, New York, New YorkSource: Business and financial news - CNNMoney.com | 4 Feb 2010 | 3:22 am Santander Q4 profit up 13 pctSpain's Banco Santander said Thursday its fourth-quarter net profit rose 13 percent to euro2.2 billion ($3.08 billion) as strong revenue growth offset an increase in bad loans amid...Source: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 3:19 am Santander Q4 profit up 13 pct (AP)AP - Spain's Banco Santander said Thursday its fourth-quarter net profit rose 13 percent to euro2.2 billion ($3.08 billion) as strong revenue growth offset an increase in bad loans amid recession.Source: Yahoo! News: Business News | 4 Feb 2010 | 3:19 am Government debt concerns weigh on European markets (AP)
Source: Yahoo! News: Business News | 4 Feb 2010 | 3:19 am Government debt concerns weigh on European markets (AP)
Source: Yahoo! News: Stock Markets News | 4 Feb 2010 | 3:19 am US Recession Job Loss May Have Been Undercounted By 824,000In a blow that could come down on the Obama administration and economy like Thor’s Hammer, the US may have lost 824,000 more jobs than the government said it did between April 2008 and March 2009. According to Bloomberg, which provided the numbers for the possible adjustment, the revision would be posted by the Bureau of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Feb 2010 | 3:18 am Toyota rues Prius brake 'clash'Toyota says it has fixed a software problem in the new Prius's brakes, as the carmaker's stream of bad news continues.Source: BBC News | Business | World Edition | 4 Feb 2010 | 3:16 am Wall Street futures point to weaker open(Reuters) - Stock futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.5 to 0.6 percent, pointing to a weaker start on Wall Street on Thursday.Source: Reuters: Business News | 4 Feb 2010 | 3:16 am Home energy retrofits: The bottom lineInvesting to make your home more energy efficient may lower the bills, but it may not boost its price, partly because these investments aren't fully valued by appraisers.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 3:15 am Wall Street futures point to weaker open (Reuters)
Source: Yahoo! News: Stock Markets News | 4 Feb 2010 | 3:15 am China hauls EU to WTO in shoe tariff dispute (AP)AP - China launched an unfair trade case against the European Union on Thursday, accusing the 27-nation bloc of imposing illegal duties on Chinese shoes, the World Trade Organization said.Source: Yahoo! News: Business News | 4 Feb 2010 | 3:14 am Stocks set to dropU.S. stocks were poised for a lower open Thursday, as worries about the economic recovery hung over investors.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 3:11 am Shell profits collapse on weak refining, natgasLONDON (Reuters) - Royal Dutch Shell Plc posted a 75 percent fall in fourth-quarter profits to $1.18 billion, as the oil major was punished for falling output and its focus on the depressed refining and natural gas businesses.Source: Reuters: Business News | 4 Feb 2010 | 3:10 am Europe Markets: European shares drop as debt worries growEuropean shares Thursday resumed a downward trend from the previous session, as worries about the debt levels of Greece and Portugal refused to go away.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 3:09 am Merkel's new government fails to impress Germans (AP)
Source: Yahoo! News: Business News | 4 Feb 2010 | 3:08 am China hits back at US over tradeChina defends its policies after US President Barack Obama promised to take a tougher line with Beijing over trade.Source: BBC News | Business | World Edition | 4 Feb 2010 | 3:05 am Toyota posts $1.7B profit, raises annual forecast (AP)
Source: Yahoo! News: Business News | 4 Feb 2010 | 3:01 am Weak oil demand hits Shell profitRoyal Dutch Shell announces a sharp fall in profits and plans to cut jobs due to falling demand for oil from a weak global economy.Source: BBC News | Business | World Edition | 4 Feb 2010 | 3:01 am Heinz revamps ketchup packetsThe ketchup packet has been around for more than 40 years, and complaints about it for nearly as long: too messy, too small, too hard to open. Now H.J. Heinz Co. is unveiling the first...Source: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 3:00 am Sony boosts outlook after first profit in five quartersTOKYO (Reuters) - Sony Corp's results offered tangible proof a restructuring at the electronics maker is starting to pay off as it halved its annual loss forecast on a rebound in flat-TV business and cost cuts.Source: Reuters: Business News | 4 Feb 2010 | 2:57 am Texting May Ruin Twitter GrowthTexting, a simple method to send messages from wireless handset to handset, may be the largest single roadblock to Twitter’s growth. A survey by Pew shows that among internet users between 8 and 17 years old, only 8% use Twitter while 66% of the age group send or receive text messages. That means that millions of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Feb 2010 | 2:57 am British Gas cuts gas prices by 7%British Gas announces it is cutting standard gas prices by an average of 7%, with immediate effect.Source: BBC News | Business | World Edition | 4 Feb 2010 | 2:56 am Fiscal worries drive euro lower, global stocks slip (Reuters)
Source: Yahoo! News: Stock Markets News | 4 Feb 2010 | 2:52 am Sovereign debt worries rattle investors0940 GMT: There were further signs of contagion across the eurozone on Thursday ahead of a European Central Bank meeting, as investors sold government bonds of peripheral eurozone countries, sending yields...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 2:51 am Sovereign debt worries rattle investorsGlobal Markets Overview: Portuguese bonds come under renewed pressure as fears of Greece’s debt problems spreading persist ahead of rate-setting meetings at the ECB and Bank of EnglandSource: Financial Times - US homepage | 4 Feb 2010 | 2:51 am Toyota raises forecast despite recall crisisToyota has raised its earnings forecast and says it will return to profit this financial year despite fears over the mounting costs of an extensive recall and lost sales due to its damaged reputationSource: Financial Times - US homepage | 4 Feb 2010 | 2:47 am Tick, tock: Real estate's time bombLuckily for banks, the commercial real estate time bomb just keeps on ticking.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 2:43 am London Markets: Commodity-sector stocks weigh in lower FTSE 100Commodity-sector stocks weigh on the top British share index on Thursday, as investors eye quarterly earnings from giant oil Royal Dutch Shell and metal and oil futures decline.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 2:40 am Asia markets mostly lower, Toyota pressures TokyoMost Asian stock markets ended down Thursday as caution reigned ahead of the U.S. jobs report Friday, with Japanese shares hurt by deepening fears over Toyota Motor's vehicle recall.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 2:39 am World stocks drop ahead of rate decisions, jobsWorld stocks retreated Thursday as a slide on Wall Street dented confidence ahead of central bank decisions in Europe and a key U.S. jobs report. Selling hit almost every major market inSource: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 2:37 am House prices rise by another 0.6%UK house prices are up for the seventh month in a row - rising by 0.6% in January, the Halifax says.Source: BBC News | Business | World Edition | 4 Feb 2010 | 2:35 am Dubai discovers new oil field (AP)AP - Dubai's government said Thursday the emirate has discovered a new offshore oil field — the first such discovery by the city-state in several years.Source: Yahoo! News: Business News | 4 Feb 2010 | 2:35 am Toyota's $2 billion recall hit to keep it in the redTOKYO/WASHINGTON (Reuters) - Toyota Motor Corp expects costs and lost sales from its massive safety recall to total $2 billion by the end of March, keeping it in the red for the year despite its strongest profit in six quarters.Source: Reuters: Business News | 4 Feb 2010 | 2:34 am Car sales up by 29.8% in JanuaryUK car sales rose by 29.8% in January compared with a year earlier, industry figures show.Source: BBC News | Business | World Edition | 4 Feb 2010 | 2:34 am UK house prices have risen £15,287 since reaching their low in AprilThe average price of a UK house has risen more than £15,000 since they began recovering in April, a new survey from Halifax Building Society showed today.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 2:34 am Toyota recall bill could hit $2 billion (AFP)
Source: Yahoo! News: Business News | 4 Feb 2010 | 2:33 am Currencies: Dollar rises vs. most rivals ahead of ECB, BOEThe dollar slips against the yen but gains against other rivals in Asian trading, ahead of European Central Bank and Bank of England policy meetings later in the session.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 2:33 am New car sales rise for seventh monthNew car sales increased by almost a third in January to 145,500 compared with the same month last year, despite the disruption caused by the heavy snow and VAT rise.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 2:25 am Oil slips below $77 as demand lags economic recoveryLONDON (Reuters) - Oil fell toward $76 a barrel on Thursday as rising crude inventories in the United States signaled a rebound in U.S. economic activity was failing to translate into higher demand.Source: Reuters: Business News | 4 Feb 2010 | 2:23 am Deficit hawks size up Obama's budgetCNNMoney.com asked 6 budget experts to size up the president's budget when it comes to reining in debt.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 2:22 am Poof: 800,000 more jobs disappearAs bad as the government's jobs readings numbers have been during the Great Recession, we'll soon find out the real situation likely was worse.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 2:17 am Meet Wall Street's 10 biggest losersFortunes have been made and lost since AOL was last a standalone company. Here are the companies that lost the most value in the past decade.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 2:15 am Toyota profitable in quarter before recallsToyota has posted a $1.7 billion profit for the quarter ending Dec. 31, but the good news does little to buoy a company buffeted by a massive global recall.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 2:12 am Santander net climbs 13% on Brazil, U.K.The euro zone’s largest bank, Banco Santander, on Thursday reported that its fourth-quarter net profit rose 13%, helped by its Brazil and U.K. operations.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 2:08 am Portsmouth have another new ownerPremier League crisis club Portsmouth have their fourth owner of the season after being taken over by Hong Kong-based businessman Balram Chainrai.Source: BBC News | Business | World Edition | 4 Feb 2010 | 2:07 am Tax credits, highway funds in Senate jobs bill (Reuters)Reuters - With a nervous eye on the November congressional elections, Senate Democrats will unveil tax credits and other proposals on Thursday that aim to bring down the nation's double-digit unemployment rate.Source: Yahoo! News: Business News | 4 Feb 2010 | 2:06 am Toyota (TM) Makes Profit, Raises Forecast, Projects $2 Billion Costs For RecallToyota (NYSE:TM) posted a profit of $1.7 billion in the quarter that ended December 31 due to cost cuts and improved sales in Asia and the US. Sales rose 10%. Toyota also raised its outlook for the current year and said recall costs would be $2 billion. If sales are drastically affected by safety concerns, that [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Feb 2010 | 2:05 am Unilever price cuts drive salesUnilever, the consumer goods group, beat forecasts with a 1.8pc rise in fourth-quarter underlying sales on Thursday, as new chief executive Paul Polman pressed ahead with his aim of selling more product at lower prices.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 2:01 am Software industry cuts 2010/11 export forecast (Reuters)
Source: Yahoo! News: Business News | 4 Feb 2010 | 1:59 am Media Digest 2/4/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Toyota (NYSE:TM) said it would have charges of $2 billion for recalls, but posted a profit last quarter and improved its forecasts. Reuters: Shell’s (RDS.A) profits fell sharply. Reuters: Sony (NYSE:SNE) posted its first profit in five quarters. Reuters: Google (NASDAQ:GOOG) and the NSA may team on cyberattack measures. Reuters: Healthcare spending will be a larger part of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Feb 2010 | 1:58 am Confusion and fear at Toyota dealershipsToyota drivers are feeling mounting confusion and frustration as they attempt to fix their recalled cars. And Toyota dealers are under the gun as they face sometimes angry customers.Source: Business and financial news - CNNMoney.com | 4 Feb 2010 | 1:52 am Shell to cut 1,000 jobs as profit misses forecastRoyal Dutch Shell on Thursday returns to profitability in the fourth quarter as oil prices rise, but the group’s refining operations limit its earnings which lag analyst estimates.
Source: MarketWatch.com - Top Stories | 4 Feb 2010 | 1:50 am FTSE opens higher (AFP)
Source: Yahoo! News: Stock Markets News | 4 Feb 2010 | 1:48 am FTSE falters as all eyes turn to the Bank of EnglandLondon equities continued to fall on Thursday, in cautious trade ahead of the conclusion of the Bank of England's latest monetary policy meeting. The FTSE 100 surrendered a further nine points...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:47 am Costco January same-store sales top estimates(Reuters) - Costco Wholesale Corp reported a better-than-expected 8 percent increase in January same-store sales, helped by a weak dollar and higher gasoline prices.Source: Reuters: Business News | 4 Feb 2010 | 1:42 am Northern Bank reports £100m lossNorthern Bank reports a loss of £100m for 2009, with provision for bad property loans wiping out profits.Source: BBC News | Business | World Edition | 4 Feb 2010 | 1:41 am Hugh Osmond raises £417.7m in Horizon IPOHugh Osmond, the pizza-to-pubs entrepreneur, raised £417.7 in an initial public offering (IPO) of shell company Horizon, which he plans to use for corporate acquisitions.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 1:41 am Shell to shed 1,000 more jobs as profits fall 75%The oil major is to cut 560,000 b/d, or 15%, of its refining capacity and shed a further 1,000 jobs in that part of its business in order to create savings of another $1bnSource: Financial Times - US homepage | 4 Feb 2010 | 1:36 am Asia Markets And Europe Open (2/4/2010)Markets in Asia fell. The Nikkei was off .5% to 10,356. Toyota (NYSE:TM) fell and Honda (NYSE:SNE) gained. Sony (NYSE:SNE) announced a profit. The Hang Seng was off 1.8% to 20,342. The Shanghai Composite was down .3% to 2,995. At the open in Europe, the FTSE dropped .3% to 5,239. Vodafone (NYSE:VOD) rose and Shell (NYSE:RDS.A) fell. The Dax [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Feb 2010 | 1:30 am Investment banking boost for Deutsche BankInvestment banking gains help Germany’s biggest bank beat market forecasts to swing to a 2009 net profit of €5bnSource: Financial Times - US homepage | 4 Feb 2010 | 1:29 am Toyota: no repairs for a week as UK deliveries haltedToyota drivers in Britain will be forced to wait another week before the company begins repairs on cars with faulty accelerator pedals, as part of a $2 billion ($£1.26 billion) recall that has forced the Japanese carmaker to suspend delivery of thousands of new cars in the UK. Source: Latest Business News from Times Online | 4 Feb 2010 | 1:15 am Yell revenues fall less than expected, see confidence returningYell, the British Yellow Pages publisher, said revenue continued to decline at a rate of 13 per cent in the December quarter, better than its guidance of 16 per cent, but predicted a 16 per cent decline for this quarter.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 1:04 am Alameda Corridor debt is downgradedMoody's Investors Services lowers its ratings on bonds issued by the rail line's governing agency. The corridor was built to ease cargo shipments from the ports of L.A. and Long Beach to downtown L.A.Moody's Investors Service has downgraded $1.7 billion in bonds for the Alameda Corridor Transportation Authority, which oversees the 20-mile rail route built to speed the flow of cargo from the ports of Los Angeles and Long Beach to retail shelves across the U.S.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am Standard Pacific swings to profit thanks to tax breakHome builder Standard Pacific Corp. posted earnings of $82.7 million, or 31 cents a share, for the last three months of 2009, the Irvine company said Wednesday.Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am Proposed NASA budget plots entrepreneur-friendly coursePresident Obama's plan to abandon a return mission to the moon and rely more on private start-ups would be a blow to big contractors like Northrop and Boeing while encouraging smaller rivals. ...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am Toyota inquiry expands to include additional modelsA House committee's chairman asks about similar sudden acceleration problems with the Tacoma truck. The questions come as the government also starts looking into brake problems on the Prius hybrid. ...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am Alameda Corridor debt is downgradedMoody's Investors Services lowers its ratings on bonds issued by the rail line's governing agency. The corridor was built to ease cargo shipments from the ports of L.A. and Long Beach to downtown L.A...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am For Hawaii, big push to go green is naturalThe resource-rich state depends almost entirely on imported oil to fuel its vehicles and stoke its power plants. It aims to obtain 70% of its total energy needs from clean sources within 20 years.Take a ride in Ron Baird's pickup truck along the volcanic shore of Hawaii's Big Island and he'll show you an inventor's wonderland.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am Denial is a familiar road for ToyotaIn 2002, when a condition in some Toyota and Lexus models turned oil to sludge and ruined engines, including in a vehicle owned by this columnist, Toyota at first denied there was any sludge problem.Here's my Toyota sob story.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am CB Richard Ellis swings to a profitThe commercial real estate brokerage giant projects annual revenue growth of 6% to 8%. Led by an economic rebound...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am Alon gets dibs in bidding for Flying J refinery in BakersfieldThe plant, run by Flying J subsidiary Big West, will be sold to the Paramount Petroleum unit of Alon if the Dallas company's offer in a bankruptcy auction is successful. ...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am For Hawaii, big push to go green is naturalThe resource-rich state depends almost entirely on imported oil to fuel its vehicles and stoke its power plants. It aims to obtain 70% of its total energy needs from clean sources within 20 years. ...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am Standard Pacific swings to profit thanks to tax breakHome builder Standard Pacific Corp. posted earnings of $82.7 million, or 31 cents a share, for the last three months of 2009, the Irvine company said Wednesday.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am Alon gets dibs in bidding for Flying J refinery in BakersfieldThe plant, run by Flying J subsidiary Big West, will be sold to the Paramount Petroleum unit of Alon if the Dallas company's offer in a bankruptcy auction is successful.Flying J Inc. has agreed to sell its 66,000-barrel-a-day Bakersfield refinery to Paramount Petroleum Corp., a division of Alon USA Energy Inc., if that firm is the successful bidder in an upcoming bankruptcy auction.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am Major League Baseball accuses Upper Deck of trademark infringementThe Carlsbad trading card maker is accused of using team logos after its licensing agreement with the professional league expired. ...Source: RSS feed - channel BNPaperBusiness | 4 Feb 2010 | 1:00 am Proposed NASA budget plots entrepreneur-friendly coursePresident Obama's plan to abandon a return mission to the moon and rely more on private start-ups would be a blow to big contractors like Northrop and Boeing while encouraging smaller rivals.Big defense firms are reeling from President Obama's call to reshape NASA and scrap plans for sending astronauts back to the moon, an ambitious endeavor that would have meant billions of dollars in spending to develop new rockets and spacecraft.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am Major League Baseball accuses Upper Deck of trademark infringementThe Carlsbad trading card maker is accused of using team logos after its licensing agreement with the professional league expired.Major League Baseball Properties Inc. is taking former business partner Upper Deck Co. to court, claiming that the Carslbad trading card maker continued using official logos after a licensing deal had expired.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am CB Richard Ellis swings to a profitThe commercial real estate brokerage giant projects annual revenue growth of 6% to 8%.Led by an economic rebound in Asia, the world's largest brokerage of office buildings, warehouses and other business properties surprised Wall Street with a solid fourth-quarter profit and a slight increase in revenue.
Source: L.A. Times - Business | 4 Feb 2010 | 1:00 am Shell plays down prospect of quick recovery in oil demand despite profits reboundRoyal Dutch Shell has joined rival BP in playing down the prospect of a sharp recovery in demand for oil this year despite seeing profits rebound last quarter.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 12:57 am Vodafone lifts outlook as Europe improvesVodafone, the world's largest mobile phone operator by revenue, raised its outlook on Thursday after posting third-quarter revenue ahead of forecasts due to cost cuts and an improving picture in Europe.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 12:55 am Shell to axe 1,000 jobs as profits plunge 69%Shell, Britain’s second-biggest oil company, will cut a further 1,000 jobs this year as it reported a bigger than expected 69 per cent fall in full-year profits and cautioned over an “uncertain” outlook for 2010. Source: Latest Business News from Times Online | 4 Feb 2010 | 12:41 am Shell oil 4Q net profit $1.96 billionRoyal Dutch Shell PLC has reported a fourth quarter net profit of $1.96 billion, saying its earning suffered from poor refining margins. The profit reported Thursday compares with a lossSource: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 12:41 am Shell says fourth quarter profit down 75 percentBritish energy giant Royal Dutch Shell said on Thursday that its fourth quarter 2009 adjusted net profit fell 75 percent from a year earlier to 1.18 billion dollars and warned of an...Source: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 12:41 am UPDATE 2-Vodafone raises outlook as Europe improves* Italy growing, Spain stabilised, Turkey back in growthSource: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 12:40 am Unilever - Strong Growth Despite a Challenging EnvironmentSource: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 12:39 am UPDATE 1-Yell beats guidance, confidence begins to returnLONDON, Feb 4 (Reuters) - British yellow-pages publisher Yell said revenue continued to decline at a rate of 13 percent in the December quarter, better than its guidance of 16 percent, but predicted a...Source: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 12:38 am Rusal pays creditors 2.14 billion dollars: companyRussian metals giant Rusal has paid Russian and international creditors 2.14 billion dollars from the proceeds of its share listings on the Hong Kong and Paris stock exchanges, the company...Source: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 12:37 am Deutsche Bank bounces back with strong 2009 profitGermany's biggest lender, Deutsche Bank, bounced back last year with a net profit of five billion euros (6.94 billion dollars) following a loss of 3.9 billion euros in 2008. In the last...Source: RSS feed - channel BNewsBusiness | 4 Feb 2010 | 12:37 am Sony lifts outlook after strong quarterJapan’s leading electronics brand shows the benefits of its restructuring programme cutting its forecast net loss for the year to March 2010 after a strong Christmas quarterSource: Financial Times - US homepage | 4 Feb 2010 | 12:36 am British Gas confirms plan to cut bills by 7%Centrica, the owner of British Gas, today confirmed that it will reduce the average gas bill by 7 per cent which it claims will save the typical household £55 a year. Source: Latest Business News from Times Online | 4 Feb 2010 | 12:34 am Toyota safety recall costs $2bnToyota said its biggest ever safety recall would cost it up to $2bn (£1.25bn) this quarter, but lifts its outlook for the year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 12:26 am British Gas cuts bills by 7pcBritish Gas has cut its standard gas prices by an average 7pc.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 12:18 am Obama to pressure China on tradePresident Barack Obama says he will be much tougher with China to make sure it opens its market to trade with the United States.Source: BBC News | Business | World Edition | 4 Feb 2010 | 12:09 am Bank rate: lenders set to raise SVRsMany lenders are set to hike standard variable rates (SVR) despite interest rates being kept on hold.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Feb 2010 | 12:05 am Market closes up, Asian markets dipThe New Zealand sharemarket outperformed Asian markets today and did not react to news that the unemployment rate rose to a surprise 7.3 per cent.The benchmark NZX-50 index closed up 13.826 points, or 0.441 per cent, at 3148.939.Turnover...Source: nzherald.co.nz - Business | 3 Feb 2010 | 11:33 pm Dollar plunges on shock unemployment dataThe New Zealand dollar fell around one US cent after a shock rise in the unemployment rate to 7.3 per cent in the December quarter.The NZ dollar fell to a five month low of US69.60c from US70.80c just before the report. It was...Source: nzherald.co.nz - Business | 3 Feb 2010 | 10:24 pm An Inverted V for the Whole Year?The economy may be growing, but the stock market is shrinking.
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm Don't Just Talk Like a Pro, Invest Like One (Active Trader)Full-time traders can tell you how to cut losses and maximize gains.
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm Can the U.S. and China Survive Their Success? (Global Recovery Watch)Economists debate the stability of a global partnership.
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm 3 Bargain Stocks Below $10 (Screens)Hough: Share prices for these firms look low compared with profit prospects.
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm The Bullish Case for Toyota (On the Street)How the beleaguered auto company could actually be a buy.
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm When Virtual Goods Equal Real ProfitsMachan: How entrepreneurs are making big money from "social gaming."
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm 5 Smart Books: Let's Get Fiscal (SmartBooks)Protecting your financial future, exploiting social media and more.
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm Valentine's Getaways That Won't Break the Bank (Deal of the Day)Slumping hotels are offering guests freebies and discounted rooms.
Source: SmartMoney.com | 3 Feb 2010 | 10:00 pm Don't expect quick jobs growth, warn economistsEconomists thought unemployment was likely to peak at around 7 per cent during 2010, with a recovery likely to take years rather than months.But today's surprise 7.3 per cent is being put down to an unexpected increase in the...Source: nzherald.co.nz - Business | 3 Feb 2010 | 7:00 pm Toyota inquiry expands to include additional modelsA House committee's chairman asks about similar sudden acceleration problems with the Tacoma truck. The questions come as the government also starts looking into brake problems on the Prius hybrid.Congressional investigators are escalating their probe of Toyota Motor Corp. vehicles by examining whether sudden acceleration affects models that have not been recalled -- and whether all Toyota vehicles should be modified so that their brakes override out-of-control throttles.
Source: L.A. Times - Business | 3 Feb 2010 | 6:46 pm Obama urges greater use of biofuelsThe EPA gives corn ethanol a larger share of the renewable-fuels markets, and the administration moves to speed the development of technologies that reduce carbon dioxide emissions from coal plants.The Obama administration gave a boost to the corn and coal industries Wednesday, announcing a series of moves to accelerate biofuel use and deploy so-called clean-coal technology on power plants.
Source: L.A. Times - Business | 3 Feb 2010 | 6:43 pm Cisco trounces estimates, sees strong recoveryNEW YORK (Reuters) - Cisco Systems Inc's quarterly results and outlook exceeded Wall Street expectations as more customers upgraded their networks to handle growing Internet traffic, leading CEO John Chambers to declare a very strong recovery.Source: Reuters: Business News | 3 Feb 2010 | 6:26 pm Time Warner joins rebound from crisisSome of the biggest US media companies are rebounding from a crisis that many expected to finish them off with a spate of dividend increasesSource: Financial Times - US homepage | 3 Feb 2010 | 6:18 pm Lawmakers push to close ‘dirty money’ loopholesUS lawmakers are seeking to expand the reach of anti-money laundering regulations after a Senate investigation found that hundreds of millions of dollars in suspect foreign funds have been able to land in the USSource: Financial Times - US homepage | 3 Feb 2010 | 6:10 pm Dollar dips below US70c, hit by surprise unemployment statThe New Zealand dollar has fallen to below US70c today, after surprise jobs data showed unemployment rose to 7.3 per cent, its highest level since June 1999.Statistics NZ said the number of unemployed New Zealanders kept climbing...Source: nzherald.co.nz - Business | 3 Feb 2010 | 6:00 pm Record number of visitors to NZ in DecemberRecord numbers of overseas visitors came to New Zealand in December, new figures from Statistics New Zealand show.There were 341,300 visitors in December, the highest ever recorded in one month, and a 6 per cent increase over...Source: nzherald.co.nz - Business | 3 Feb 2010 | 5:30 pm New car market shows strong start to yearThe new car market is off to a strong start this year, with January registrations up 6 per cent on the same month last year, figures released by the New Zealand Transport Agency show.There were 5601 new registrations last month,...Source: nzherald.co.nz - Business | 3 Feb 2010 | 5:25 pm Cisco data signal ‘second phase of recovery’Cisco Systems, the largest maker of networking equipment, reported a return to revenue growth and said that a second phase of economic recovery had begunSource: Financial Times - US homepage | 3 Feb 2010 | 5:22 pm 24/7 Wall St. Toyota 2010 Forecast: 500,000 Lost Sales, CEO Resignation, 40,000 LayoffsThe bad news is just beginning for Toyota (TM). The eight million vehicles the company has recalled, the shut down production of eight of its most popular cars, and potential brake defects with its hybrid Prius will cause large numbers of liability suits, significant losses in sales, and a substantial drop in revenue and earnings [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Feb 2010 | 5:17 pm Geithner says bank fee can recoup AIG bonusesWASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on Wednesday said insurer AIG's contracts to pay hundreds of millions of dollars in bonuses were "outrageous" and appealed to Congress to help recoup payments.Source: Reuters: Business News | 3 Feb 2010 | 5:06 pm UK may halt quantitative easingThe Bank of England will report later on its policy of quantitative easing, with many analysts expecting it to halt the scheme.Source: BBC News | Business | World Edition | 3 Feb 2010 | 5:03 pm UK deliveries halted as Toyota crisis deepensToyota has suspended the delivery of thousands of new cars as the crisis over defective accelerator pedals threatens to engulf the company. Source: Latest Business News from Times Online | 3 Feb 2010 | 5:01 pm UK warned of five years of cuts in deep economic winterBritain faces the longest period of spending cuts since records began in 1948 if the Government is to repair the damage to public finances inflicted by the banking crisis and the recession. Source: Latest Business News from Times Online | 3 Feb 2010 | 5:01 pm Toyota recalls 180,000 British vehicles as safety fears accelerateFor six weeks Catherine Block struggled to control her Toyota Aygo. Without warning, the silver car would accelerate even though her foot was not on the pedal. Sometimes the burst of speed would last seconds, on other occasions several minutes, taking her over the speed limit and posing a potential danger to others. Source: Latest Business News from Times Online | 3 Feb 2010 | 5:01 pm Buy-to-let investors may get cut in taxThe Government is considering granting stamp duty concessions on bulk buying of property to encourage institutional investors to become professional landlords. Source: Latest Business News from Times Online | 3 Feb 2010 | 5:01 pm Top Cadbury bosses first to go in Kraft purgeTodd Stitzer, the chief executive of Cadbury, is to leave the company within weeks with £20 million in cash and shares after Irene Rosenfeld, Kraft’s chairman and chief executive, swung the axe at the British chocolate company’s top three executives. Source: Latest Business News from Times Online | 3 Feb 2010 | 5:01 pm Energy regulator warns of power blackouts and renationalisationBritain’s energy regulator yesterday warned of power blackouts and spiralling consumer prices and raised the prospect of partial renationalisation of the industry. Source: Latest Business News from Times Online | 3 Feb 2010 | 5:01 pm NZ still bears up well in world jobless stakesNew Zealand, which recorded an unemployment rate of 7.3 per cent for the December quarter, is still not doing too badly when compared with the rest of the world, says an AUT academic.Tim Maloney, the head of AUT's economics department,...Source: nzherald.co.nz - Business | 3 Feb 2010 | 5:00 pm Visa posts higher quarterly profitNEW YORK (Reuters) - Visa Inc posted a stronger-than-expected profit on Wednesday, helped by rising debit card processing volume.Source: Reuters: Business News | 3 Feb 2010 | 5:00 pm Cisco blows past Street's forecastTechnology powerhouse Cisco posted quarterly profit and revenue that sailed past Wall Street's most optimistic expectations and rose for the first time in more than a year.Source: Business and financial news - CNNMoney.com | 3 Feb 2010 | 4:39 pm Write-Offs: 02.03.10$$$ UBS employee charged with DUI while carrying cocked pistol [CTP] $$$ Hill Country's food eating challenge. I want one of you to do it. [Grub Street] $$$ Bernanke, Quietly This Time, Takes Oath At Fed [NYT] $$$ Galileo Chases 'Pink Dollar' With Gay, Lesbian Hedge Fund [FINalternatives] $$$ Geithner Says Bank Fee Can Recoup AIG Bonuses [Reuters] 
 Source: Dealbreaker | 3 Feb 2010 | 4:32 pm AgResearch boss Andrew West resignsAndrew West, chief executive New Zealand's largest Crown Research Institute AgResearch, has announced his resignation.In a press release issued this morning, chairman Sam Robinson, said the institute's board was "not yet in a...Source: nzherald.co.nz - Business | 3 Feb 2010 | 4:30 pm Stocks slip as growth in services falls short (AP)
Source: Yahoo! News: Stock Markets News | 3 Feb 2010 | 4:06 pm Gannett, Martha Stewart, Gold, Cisco, Denny’s: Taking StockSource: Bloomberg - All Podcasts | 3 Feb 2010 | 3:59 pm Barney Frank Not Too Excited About Volcker Proposal
Source: Dealbreaker | 3 Feb 2010 | 3:57 pm How the major stock indexes fared on Wednesday (AP)AP - A disappointing report on services industries halted a two-day advance in the stock market. The Dow Jones industrial average fell 26 points Wednesday after jumping a total of 230 points in the first two days of the week. The report on services businesses, which make up the biggest slice of the U.S. economy, reminded investors that a recovery will be slow.Source: Yahoo! News: Stock Markets News | 3 Feb 2010 | 3:49 pm Bernanke Pledges To Protect Fed's IndependenceBy Caitlin Kenney Following a tough battle for his confirmation, Federal Reserve Chairman Ben S. Bernanke was sworn in for a second four-year term this afternoon. In a statement released by the Fed, Bernanke acknowledged the "enormous challenges" facing the U.S. economy and pledged that the Fed would "do all that we can to ensure that our policies are helping to guide the country's return to prosperity in an environment of price stability." He also used the occasion to stress autonomy for the Fed, something that has come under attack in recent months: The Federal Reserve has been granted, both in law and in political tradition, considerable independence and autonomy. That independence serves important public objectives. Critically, it allows the Federal Open Market Committee to make monetary policy in the longer-term economic interests of the American people, rather than in the service of short-term political imperatives. It also allows the Federal Reserve to make supervisory decisions based on the facts of each case and the need to preserve financial stability, not on the basis of political considerations. In the interest of maintaining public confidence and promoting economic and financial stability, we must continue to protect our independence. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 Feb 2010 | 3:11 pm Toyota, Pfizer, Western Union are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 3 Feb 2010 | 3:11 pm Dollar falls below US71c as jobs data loomsThe New Zealand dollar fell below 71 US cents overnight as risk appetite waned amid ongoing concerns over European nations' sovereign debt, and ahead of today's employment data which is expected to show the jobless rate rose to its...Source: nzherald.co.nz - Business | 3 Feb 2010 | 2:50 pm Fed must be more open, guard independence: BernankeWASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday said the Fed must be more transparent to the public but also guard its independence, which serves a vital public interest.Source: Reuters: Business News | 3 Feb 2010 | 2:40 pm Share float rumours surround Rank GroupMarket chatter suggests New Zealand's richest man, Graeme Hart, may sell off some of his packaging businesses later this year, perhaps in a sharemarket float.The Business Herald understands Hart's Rank Group is contemplating...Source: nzherald.co.nz - Business | 3 Feb 2010 | 2:30 pm Former Bank Of Broadway Exec Member Of The Mob?
Yes, Giannoulis once worked as VP at his family-owned bank, Bank of Broadway, which is under scrutiny. As of last week, it's operating under FDIC's consent order, meaning they have to raise a lot of capital ($19 million) for losses from mounting delinquent loans in order to stay in business. But does that a mobster make? You tell us.
Source: Dealbreaker | 3 Feb 2010 | 2:29 pm Short seller bets on stock drops lifting prices (AP)
Source: Yahoo! News: Stock Markets News | 3 Feb 2010 | 2:22 pm Presented By:Source: Dealbreaker | 3 Feb 2010 | 2:20 pm Just Putting It Out ThereFor those of you whose firms don't perform these procedures on-site and on the house: sex changes are now deductible (though boob jobs are not).
Source: Dealbreaker | 3 Feb 2010 | 2:20 pm Cisco Rocks Numbers, One Caveat Seen (CSCO)Cisco Systems Inc. (NASDAQ: CSCO) had a bullish bias going into earnings as far as the options traders were concerned. The networking giant has posted earnings of $0.40 EPS on an 8% revenue gain to $9.8 billion in revenues. This compares to estimates from Thomson Reuters of $0.35 EPS and $9.41 billion in revenues. The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Feb 2010 | 2:19 pm Goldman Management Not Worried About Anyone Leaving Them
Source: Dealbreaker | 3 Feb 2010 | 2:11 pm Macquarie Bank Miranda Kerr Enthusiast On A Time Out 'Til Superiors Decide What To Do With Him
Source: Dealbreaker | 3 Feb 2010 | 1:28 pm Moody’s warns US of credit rating fearsThe ratings agency says that the triple A sovereign credit rating of the US would come under pressure unless tougher actions were taken to tackle the country’s budget deficitSource: Financial Times - US homepage | 3 Feb 2010 | 12:53 pm Eliot Spitzer: It's Nice to Be Able to Stick It To Whomever You Want
Source: Dealbreaker | 3 Feb 2010 | 12:26 pm 10 Companies Beloved Enough for a FansiteI like to shop at IKEA. When I found out that they’re finally building a location in Colorado, where I live, I immediately consulted Google for more details. One of the first results was a website called Colorado IKEA Fans. Somebody was so devoted to the store’s new Colorado location that he took the time and energy to construct a website shrine. IKEA is lucky to have that kind of fan base. Besides selling furniture, it inspires people enough to make them work (build fansites) for free. Talk about an ironclad brand. I grew curious. What other companies provoke this kind of reverence? I put together a list of ten major ones. Coming up tomorrow: 10 companies that inspired hate websites. IKEA
IKEA may be the world’s biggest furniture retailer, but few call it evil. Instead, customers spend hours there, browsing foldable furniture, eating $2 meatball meals, and exploring endless halls of home accouterments. No wonder the company has serious fans. Not bad for an organization called Ingvar Kamprad Elmtaryd Agunnaryd. Apple
Master Jobs’ organization more closely resembles a cathedral than a company. It has dozens of fan sites, the most prominent of which include the Apple Blog and Macrumors. If aliens landed in Cupertino and gauged what was going on with Apple and its fans, they may well call it religion. Nintendo
Back in the 1980s, Nintendo enjoyed something like cult status. If you grew up playing Super Mario Bros., you know what I mean. Two decades later, Nintendo is back in the mainstream spotlight, thanks mostly to the Wii. If you adore Nintendo as much as the people in the forum above, you’re in good company.
Love it or hate it, Google is an Internet mainstay. Some people love it enough to build a fansite. Others hate it enough to build a different kind of shrine. I put it on our love list (there’s a hate list coming soon) for a naughtily subjective reason: I like Google. Berkshire Hathaway/Warren Buffett
People around the world revere the Oracle of Omaha. After all, not every stone-cold businessman is also a folksy preacher. He’s so popular that fansites as far away as South Africa follow him closely. Costco
Ah, Costco. Where the modern-day suburbanite can hunt and gather product like a primitive. Combine that with friendly employees, bulk Mountain Dew, and free samples, and you have a fundamentally satisfying experience. Just ask the folks at I Love Costco and other fansites. Disney
If you’ve lost your childhood to things like work and mortgages, don’t fret. Disney, which you probably grew up with, can take you right back to five-year-old heaven. If you have five-year-olds of your own, all the better. It’s no wonder this big company has more than one fansite. Target
Back in the 1980s, Target was a lowly K-Mart competitor. Then, somebody at corporate got smart. The retailer added designer fashion, groceries, and an excellent selection of home furnishings–for prices a college student can afford. The result? A loyal fan base and steady customers. They’ve even cultivated an online colony of slaves. Trader Joe’s
I never knew how much I liked TJ’s until I moved to Colorado. Sadly, Trader Joe’s doesn’t exist here. That means I can’t get fresh, reasonably-priced produce, a wild selection of coffee and tea, tubs of gourmet snacks, and wine in the same place–for a decent price (sorry, Whole Foods). I miss Trader Joe’s. I bet fans like this one would, too. Canon
As a Nikon shooter, I kind of don’t get why only Canon has a love page, but hey…there are good reasons to use Canon products. If you must.
Source: Business Pundit | 3 Feb 2010 | 11:56 am In Haiti, The Grim Jokes BeginHumor in Haiti is hard to come by these days. Adam sends the closest thing he's heard -- a joke from Sebastian, the driver he and Chana hired to take them through the streets of Port Au Prince: "Thank god this happened in Haiti and not New York or Miami. That would have really ruined the Haitian economy." Sebastian is of course referring to all the remittances sent back to the country by Haitian ex-pats. The World Bank estimates that Haiti received about $1.3 billion in remittances in 2008, about 18.7 percent of the country's GDP. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 Feb 2010 | 11:52 am Nouriel Roubini Has Friends in DB Readers
Source: Dealbreaker | 3 Feb 2010 | 11:34 am A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Wednesday:Source: Yahoo! News: Stock Markets News | 3 Feb 2010 | 11:28 am Obama hits oil slick in energy debatePresident Obama met with 11 governors to try to get support for his energy policies, which would shift the nation away from fossil fuels. He's still got come convincing to do. Sarah Gardner reports.Source: Marketplace | 3 Feb 2010 | 11:03 am Super Bowl snub lifts gay site's profileRight after CBS agreed to run an anti-abortion spot during the Super Bowl, it rejected a submission from gay dating Web site Man Crunch. That move is generating a lot of publicity. Sean Cole reports.Source: Marketplace | 3 Feb 2010 | 11:00 am Misplaced blame for Venezuela's woesCommentator David Frum just came back from a State Department-sponsored trip to Venezuela and sends along his observations about the curious state of its economy.Source: Marketplace | 3 Feb 2010 | 11:00 am Firms adopt clawback rules to stem riskSome Wall Street banks are putting so-called clawbacks into their employees' bonuses this year. Jeremy Hobson reports on whether the compensation provisions will work to avert excessive risk.Source: Marketplace | 3 Feb 2010 | 11:00 am How to get Haiti's economy going againGeorge Mason University Economist Tyler Cowen talks with Kai Ryssdal about what the old Haitian economy used to be and what it will take to build a new economy.Source: Marketplace | 3 Feb 2010 | 11:00 am Rules for modifying loans may easeThe Obama administration's program to help homeowners stay in their homes by reducing monthly payments has been slow to make progress. Now there's talk the Treasury Department may tweak formulas to make loan modifications easier. Mitchell Hartman explains.Source: Marketplace | 3 Feb 2010 | 11:00 am The fallout from Toyota's troublesIt's turning into another rough week for Toyota. Reporter Alisa Roth talks with Kai Ryssdal about how much the carmaker's problems will cost and whether people will still be willing to buy its cars.Source: Marketplace | 3 Feb 2010 | 11:00 am China curbs companies’ capital raisingRegulators have imposed a partial ban on listed companies raising capital from equity markets as liquidity is tightenedSource: Financial Times - US homepage | 3 Feb 2010 | 10:57 am The Great Wal-Mart Battery Trade-Out (XIDE, JCI, WMT)Exide Technologies (NASDAQ: XIDE) is getting crushed today after news that the company was notified by Wal-Mart Stores Inc. (NYSE: WMT) that the retailer will stop selling the company’s auto batteries in WalMart stores. It would be the understatement of the year to note that when companies lose WalMart as one of their retail distributors, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Feb 2010 | 10:51 am Citi Is Dead Serious About Making This Thing Work
And lest you think this is some sort of corporate crap, think again: this blog is so real that they're letting you leave comments. In fact, go leave one right now. Vikram is so excited about all this that he's kicked off his inaugural post with a video in which he gets to his favorite word ("globality"). Take a peek, and then tell us what sort of posts you'd be interested in seeing. Pictures of VP's lunch? Daily outfits? Next-day recaps and thoughts on Lost? Favorite YouTube videos of the week? Late night confessions? Guest posts by The Prince? Dish on other CEO's (don't even get Pandles started on what Lloyd wore the last time they were in Washington. Fashion failll)? Everyone wants this thing to be great and to that end, is a name change in order? My vote: Vicki In The Citi. Think about it.
Source: Dealbreaker | 3 Feb 2010 | 10:30 am US jobs news hits the FTSE (AFP)
Source: Yahoo! News: Stock Markets News | 3 Feb 2010 | 10:08 am Anonymous Source Story Of The Week: Huge Layoffs At Take-Two (TTWO)MCV, the games business site, reports that Take-Two Interactive (NASDAQ:TTWO) will lay-off 400 people, or 20% of its work force. The company’s VP of Corporate Affairs, Alan Lewis, denied the rumor but said a corporate restructuring is underway, according to Business Insider. That leaves open the issue of what the difference between a restructuring and lay-offs is and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Feb 2010 | 10:06 am $100 Million AIG Bonuses Still Stink
When bailed-out AIG paid monstrous bonuses to its Financial Products employees last year (the people whose derivatives deals almost ruined the company), people got mad. This year, AIG is doing it again. Thanks to two-year-old contracts, it will pay Financial Products employees about $100 million in bonuses today. The Washington Post explains how AIG is actually trying to climb out of a PR mess with the bonuses: As the housing bubble was collapsing and the company’s trading in financial derivatives called credit-default swaps was starting to cost the company billions of dollars, AIG officials instituted the guaranteed retention payments to keep employees during the coming period of financial instability. Financial Products employees were promised more than $400 million in retention pay, with lump sums due in March 2009 and March 2010. Government and AIG officials agreed last year that the bonuses at Financial Products, however unsavory they might seem after the company’s multiple federal bailouts, were legally binding. That explanation did not sit well with millions of Americans who were out of work and whose tax dollars had gone to prop up the faltering insurance giant. While many in the public and on Capitol Hill have been angered by outsize paydays at financial firms, the AIG retention bonuses have been especially rankling because the company has received a federal rescue package of about $180 billion in loans, stock investments and other commitments from the Federal Reserve and the Treasury Department. Last spring, AIG employees also informed the company that they’d return $45 million in compensation by the end of 2009. To date, $20 million has been repaid, according to the Washington Post. So, AIG gets bailed out by the government. It promises its employees handsome compensation. It tells its employees to pay back some of their money, which they do, kind of. Then it honors a two-year-old compensation contract, paying those employees those same handsome bonuses. It hopes everything is over. This still smells bad. It will for a while to come.
Source: Business Pundit | 3 Feb 2010 | 9:48 am Are Old People Bankrupting America?From The Atlantic Wire, By Max Fisher As health care costs balloon, swelling the budget and the deficit, elderly Americans are consistently the biggest consumers. This isn’t their fault. They simply require more–and more expensive–treatments. These treatments are billed to Medicare, which hands the bill to the federal government, which needs tax revenue to pay it. Here’s [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Feb 2010 | 9:43 am Prius Brake Problem: Toyota’s Newest Headache
After recalling more than 5 million accelerator problems, Toyota is hanging onto its reputation by a thread. Now, word is out that the 2010 Prius has brake problems. CNN reports: In the U.S., more than 100 complaints alleging poor brake performance have been lodged with the National Highway Traffic Safety Administration against the 2010 Prius, a newly designed version of the car that was introduced last summer. In Japan, 14 complaints about brakes in the Prius have been lodged since July. Japan’s Transportation Ministry has asked Toyota to investigate brake malfunction complaints in Japan on the Prius, according to the Japan Automobile Dealers Association. “The complaints received via our dealers center around when drivers are on a bumpy road or frozen surface,” Paul Nolasco, a Toyota Motor Corp. spokesman in Japan, said. “The driver steps on the brake and they do not get as full of a braking feel as expected.” Brakes in hybrid cars like the Prius operate differently from brakes in most cars. In addition to standard brakes, which use friction from pads pressed against drums or rotors, hybrid cars use their electric motors to help slow the car, a process that generates electricity to recharge the batteries. Someone at Toyota is slamming their head repeatedly onto a desk right now. How will the company dig itself out of this mess? I anticipate extreme deals, like 10-year warranties and temporary low prices on limited models, to lure customers back in. Even then, mending its reputation will probably take years.
Source: Business Pundit | 3 Feb 2010 | 8:59 am Made In Haiti
Fabric at the Grupo M textile factory in the Dominican Republic. (Adam Davidson/NPR) By Chana Joffe-Walt Adam and I are heading to Haiti for a series of Planet Money reports on whether there's any hope for its crushed economy. On the way, we stopped off in the Dominican Republic -- and one of the places we checked out was a company that has been working across the border, providing jobs to Haitians in an industry that some see as Haiti's biggest hope: textiles. Grupo M supplies jeans and T-shirts for such big-name brands as DKNY, Liz Clairborne and Perry Ellis. Its pretty flashy website claims they are "the largest private employer in the Dominican Republic." The fabrics you see pictured above will be cut in the Dominican Republic, sent over the border to Haiti to be sewn into t-shirts, sent back to the Dominican Republic, washed and then shipped out to the U.S. One t-shirt will make the trip across border twice for two simple reasons: 1. Labor in Haiti is cheap. 2. Textiles manufactured in Haiti are duty-free. Despite those advantages, the people at Grupo M told us it's been hard to convince American apparel companies that they want the "Made in Haiti" label. That is, until now. Apparently the earthquake is "raising awareness about Haiti's story." In other words, Haiti is now cool. 
Inside the Grupo M textile factory in the Dominican Republic. (Adam Davidson/NPR) » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 3 Feb 2010 | 8:55 am WM Morrison Raised to `Overweight' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 3 Feb 2010 | 8:17 am ECRI’s Achuthan: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 3 Feb 2010 | 8:14 am Moshe Orenbuch: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 3 Feb 2010 | 8:13 am Pioneer’s Carey: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 3 Feb 2010 | 8:11 am Liaquat Ahamed: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 3 Feb 2010 | 8:09 am Morning Report: Payroll Report Shows Smallest Drop In Two YearsBy Caitlin Kenney Private employers shed 22,000 jobs last month, according to a report from payroll giant Automatic Data Processing Inc. The decrease was the smallest amount in two years and a marked difference from last month's revised figure of 61,000 jobs lost. The report showed that large businesses (500 employees or more) dropped 19,000 jobs and small businesses (fewer than 50 employees) shed 12,000 jobs. Mid-sized businesses reportedly added 9,000 employees in January. The payroll data comes ahead of Friday's unemployment report from the The Labor Department. That report is expected to show that the unemployment rate remained at 10 percent for January. Meantime, more information is trickling out about just how much the biggest financial firms will pay in bonuses this year. Beleaguered insurance giant, AIG, is reportedly set to pay about $100 million bonuses, a figure that has not been confirmed by the company. Earlier this year, AIG announced it would slash its original bonus plans by $20 million, forcing current and former employees to take cuts on what they were promised. While most AIG employees have agreed to take the reduced amount, the New York Times reports that some former employees are holding out and may take their contract dispute to court. Bank of America will reportedly pay its investment banking employees an average bonus of $400,000 each. A source close to the bank told Bloomberg that this year's bonuses are "a third less than $6.5 billion that the combined units would have paid in the peak year of 2006." The 2009 bonuses are equivalent to about 19 percent of the $23 billion made by the company's investment banking and capital markets divisions this year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 Feb 2010 | 7:13 am An Sign with Ill Intentions?
Source: Business Pundit | 3 Feb 2010 | 5:06 am
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