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Glasgow's amphibious bus breaks down on first voyageAn amphibious bus that can travel on water and roads was grounded yesterday, less than an hour after it took to the water. Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 am Voters will make MPs pay dear for expenses affair, Populus poll showsThe race between the Conservatives and Labour has tightened as the general election approaches and voters increasingly expect a hung Parliament, according to the latest Populus poll for The Times. Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 am Head of UK financial regulation resignsHector Sants, chief executive of the UK's Financial Services Authority, announces he is to step down as head of the City regulator.Source: BBC News | Business | World Edition | 9 Feb 2010 | 3:35 am Greece seeks pension, wage reform as strike looms (AP)AP - Greece's government on Tuesday tackled the thorny issue of pension and wage reform, part of its plan to fight a debt crisis that has alarmed global markets, even as strikes were being planned nationwide.Source: Yahoo! News: Business News | 9 Feb 2010 | 3:31 am Swatch full-year profit beats poll, upbeat on 2010ZURICH (Reuters) - Swatch Group, the world's largest watchmaker by sales, posted a forecast-beating full-year profit and confirmed its upbeat outlook for 2010, easing worries a flagging economic recovery may hit demand.Source: Reuters: Business News | 9 Feb 2010 | 3:23 am Iran increases uranium enrichmentIran has announced that it has started to make higher grade uranium just as western powers warned that such a move would inevitably lead to fresh sanctions against the Islamic regimeSource: Financial Times - US homepage | 9 Feb 2010 | 3:23 am Stocks look to reboundU.S. stock futures rose early Tuesday, as investors eyed buying opportunities after the previous session's selloff, although worries about debt problems in Greece remained in focus.Source: Business and financial news - CNNMoney.com | 9 Feb 2010 | 3:21 am China's CIC gives breakdown of U.S. equity stakes (Reuters)Reuters - China Investment Corp , the country's $300 billion sovereign wealth fund, has made its biggest U.S. equity bets in natural resources and financial stocks.Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 3:19 am China's CIC gives breakdown of U.S. equity stakesBEIJING (Reuters) - China Investment Corp , the country's $300 billion sovereign wealth fund, has made its biggest U.S. equity bets in natural resources and financial stocks.Source: Reuters: Business News | 9 Feb 2010 | 3:19 am NYSE Euronext swings to profit, beats expectationsThe stock-exchange operator NYSE Euronext avoids the impairment charges that weighed on its results a year earlier as its profit tops estimates.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 3:18 am Why No One Will Buy A New Car This YearUS new vehicles sales reached almost 17 million in 2005. The number dropped to 10.4 million units in 2009, the lowest level in 27 years. Most industry analysts expect the American car market to rebound to 12 million total sales in 2010. JD Power presents a more conservative forecast of 11.5 million. The Toyota (TM) recall of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 3:12 am Europe Markets: Europe stocks higher as Greek worries abateEuropean shares shook off early weakness to trade higher on Tuesday as worries about Greece’s finances appeared to abate and as earnings news from watchmaker Swatch cheered.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 3:07 am European stocks climb, London up 0.67% (AFP)
Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 3:06 am Toyota recalls 437,000 Priuses, hybrids globally (AP)
Source: Yahoo! News: Business News | 9 Feb 2010 | 3:04 am Toyota recalls Prius over brake problemThe Japanese carmaker is recalling nearly half a million of its hybrid cars, inclluding its flag ship Prius model, to fix a problem with the software that controls its brakesSource: Financial Times - US homepage | 9 Feb 2010 | 3:03 am Brand Value And Stock Value: Soft Drinks, Candy, Soap, And SoupLarge consumer companies spend a great deal of marketing money on creating, preserving, and increasing the image of their brands. If a product has problems, the process does not always work. Toyota (NYSE:TM) has found that out the hard way. A new study by CoreBrand sets values on the relationships between brand equity and market cap among large [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 3:02 am London Markets: British Land shares climb in higher FTSE 100Property-development firms advance in the top British share index. A rise in property values helps British Land swing to a profit.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 3:00 am Asian markets end mostly higher, Hong Kong up 1.2%Asian markets ended mostly higher on Tuesday, with a rebound in commodity prices and Swiss banking major UBS's return to profit spurring late buying in Hong Kong.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 3:00 am EU government bank says no bailout for GreeceThe European Union's government-backed lender says it cannot bail out Greece or any other European country that can't pay its debts. The European Investment Bank said in a statement...Source: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:52 am EU government bank says no bailout for Greece (AP)AP - The European Union's government-backed lender says it cannot bail out Greece or any other European country that can't pay its debts.Source: Yahoo! News: Business News | 9 Feb 2010 | 2:52 am SAS shares drop as loss-making carrier seeks fundsThe Scandinavian airline says it will turn to shareholders for about $700 million after a quarterly loss.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 2:48 am Toyota adds new Prius to global recall listTOKYO (Reuters) - Toyota Motor Corp said it is recalling nearly half a million of its flagship Prius and other hybrid cars for braking problems as it seeks to address criticism over the handling of its worst safety crisis.Source: Reuters: Business News | 9 Feb 2010 | 2:47 am Rightmove sees surge in home advertisingRightmove, Britain's biggest property search website, restored some confidence to the housing market today by saying it had seen a surge in the amount each estate agent was spending on home adverts in January. Source: Latest Business News from Times Online | 9 Feb 2010 | 2:40 am Protect yourself from a double-dip recessionQuestion: We're in our late 60s, retired and have a comfortable amount of money in retirement accounts, mostly mutual funds. My husband wants to liquidate most of our holdings and put the proceeds in money market funds, laddered CDs, maybe an annuity, as he fears the political situation will lead to another recession. Is he right? --Sharon, Kennewick, WashingtonSource: Business and financial news - CNNMoney.com | 9 Feb 2010 | 2:39 am Greece seeks pension, wage reform as strike loomsGreece's government on Tuesday tackled the thorny issue of pension and wage reform, part of its plan to fight a debt crisis that has alarmed global markets, even as strikes were being...Source: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:37 am Asia Markets: Some Japan exporters still pressured by weak euroJapanese exporters’ shares struggle to shake off early losses as lingering fears about sovereign debts in Europe and the euro’s sharp depreciation against the yen keep some shares under pressure.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 2:36 am Economic Report: Germany's exports jumped 3.4% in DecemberGermany’s exports rose in December, official data show, signaling that foreign trade will likely underpin the rebound in Europe’s biggest economy.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 2:35 am UBS makes Q4 profit, but withdrawals continue (AP)AP - Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said rich clients' withdrawals had continued.Source: Yahoo! News: Business News | 9 Feb 2010 | 2:33 am UBS makes Q4 profit, but withdrawals continueSwiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said rich clients'...Source: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:33 am UBS back to profit in Q4, outflows accelerateZURICH (Reuters) - Swiss bank UBS posted its first quarterly net profit since Oswald Gruebel took the helm a year ago but clients withdrew far more money than forecast, signaling he may need more time to steady the ship.Source: Reuters: Business News | 9 Feb 2010 | 2:33 am Greek bailout speculation lifts euro (Reuters)
Source: Yahoo! News: Business News | 9 Feb 2010 | 2:31 am Greek bailout speculation lifts euroLONDON (Reuters) - The euro rose on Tuesday on speculation that European Union nations could bail out errant member Greece, while global stocks were flat and emerging market shares climbed.Source: Reuters: Business News | 9 Feb 2010 | 2:31 am Greek rescue hopes help bourses regain their poiseGlobal Markets Overview: Euro rises on news that Jean-Claude Trichet, ECB president, is returning early from a banking summit to attend Thursday’s meeting of European leadersSource: Financial Times - US homepage | 9 Feb 2010 | 2:31 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 | 9 Feb 2010 | 2:31 am Tax banker bonuses? Yeah, right.The government's plan to tax Wall Street's bonus bounty is shaping up to be nothing more than a pipe dream.Source: Business and financial news - CNNMoney.com | 9 Feb 2010 | 2:30 am Lloyds and RBS 'failing to lend'Royal Bank of Scotland and Lloyds are criticised by MPs for failing to lend enough to homeowners and businesses.Source: BBC News | Business | World Edition | 9 Feb 2010 | 2:29 am UPDATE 1-Acer Q4 lags forecast in market share quest* 2009 net profit T$11.4 bln, down from 2008's T$11.7 blnSource: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:29 am Oil above $72 in Asia amid weakening dollarOil prices rose above $72 a barrel Tuesday in Asia as a weakening U.S. dollar offset concerns about the strength of the global economic recovery. Benchmark crude for March delivery was...Source: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:28 am Oil above $72 in Asia amid weakening dollar (AP)
Source: Yahoo! News: Business News | 9 Feb 2010 | 2:28 am German exports down 18.4 percent in 2009German exports tumbled by more than 18 percent last year, the biggest fall for 60 years and one that officially knocked the country off its perch as the world's top exporter, government...Source: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:25 am Toyota adds new Prius to global recall list (Reuters)
Source: Yahoo! News: Business News | 9 Feb 2010 | 2:25 am Toyota recalling 437,000 hybridsToyota's president apologized profusely Tuesday as he announced the global recall of more than 400,000 of the automaker's 2010 hybrid models, including the popular Prius, for problems in their anti-lock braking systems.Source: Business and financial news - CNNMoney.com | 9 Feb 2010 | 2:24 am NYSE Euronext returns to profit in 4th quarter (AP)AP - NYSE Euronext, the trans-Atlantic stock exchange operator, said Tuesday it returned to profit in the fourth quarter as cost-cutting helped offset a drop in revenue from falling global share trading volumes.Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 2:20 am NYSE Euronext returns to profit in 4th quarterNYSE Euronext, the trans-Atlantic stock exchange operator, said Tuesday it returned to profit in the fourth quarter as cost-cutting helped offset a drop in revenue from falling global shareSource: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:20 am Unemployment taxes slam businessesEmployers are getting hit with a massive tax hike at a time when they can least afford it.Source: Business and financial news - CNNMoney.com | 9 Feb 2010 | 2:19 am Bad weather hits January salesUK retail sales described as 'awful' as the icy weather and the unsteady economy keep shoppers at home.Source: BBC News | Business | World Edition | 9 Feb 2010 | 2:13 am UPDATE 1-Vimpelcom Ltd starts share exchange offer* Part of Telenor/Alfa deal is to merge Vimpelcom, KyivstarSource: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:13 am UBS swings to profit, but outflows accelerateFourth-quarter profit is helped by lower costs and a tax credit, though the outflow of client money from its wealth-management arm accelerates.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 2:11 am China quake activist jailed for subversionTan Zuoren, who was documenting shoddy construction that contributed to deaths in the 2008 earthquake, was sentenced for his e-mailed comments about the pro-democracy crackdown in 1989Source: Financial Times - US homepage | 9 Feb 2010 | 2:07 am FACTBOX-China's sites for commercial oil storageBEIJING, Feb 9 (Reuters) - China National Petroleum Corp (CNPC) will start building a 6.2 million-barrel crude-oil tank farm next month in the northern port of Tianjin, which it aims to complete by end...Source: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:07 am JAL chooses to stay with American over DeltaJapan Airlines Corp. will keep its partnership with American Airlines in the Oneworld Alliance and it rejected an offer from rival Delta Air Lines Inc.
Source: MarketWatch.com - Top Stories | 9 Feb 2010 | 2:07 am Toyota: how Britain's textile industry helped give birth to the world's largest carmakerIt took £100,000 to get Toyota on the road back in 1930, courtesy of a Lancashire company, writes Roland Gribben.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 2:05 am UBS fund withdrawals escalate amid secrecy rowThe war of attrition by tax authorities on fiscal havens has taken its toll on UBS, the Swiss bank, which lost SwFr56 billion (£34 billion) in client funds during final quarter of last year. Source: Latest Business News from Times Online | 9 Feb 2010 | 2:04 am Officials ask Anthem to justify rate hike in CalifOver the past 12 years, Josh Libresco's health insurance premium has increased almost eight-fold for his family of four. The 54-year-old San Rafael resident is facing a 39 percent rate...Source: RSS feed - channel BNewsBusiness | 9 Feb 2010 | 2:01 am World stocks mixed after Wall Street decline (AP)
Source: Yahoo! News: Business News | 9 Feb 2010 | 1:59 am World stocks mixed after Wall Street decline (AP)
Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 1:59 am Toyota in global recall of PriusToyota recalls thousands of Prius cars in Japan because of braking problems, in the latest blow to the world's largest carmaker.Source: BBC News | Business | World Edition | 9 Feb 2010 | 1:54 am Nissan reports return to profitJapanese carmaker Nissan has reported a return to profit for the last three months of 2009.Source: BBC News | Business | World Edition | 9 Feb 2010 | 1:53 am Media Digest 2/9/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Toyota (NYSE:TM) will recall the Prius. Reuters: UBS (NYSE:UBS) posted a profit. Reuters: Nissan posted a profit and raised forecasts. Reuters: JAL will maintain its ties with AMR (NYSE:AMR). Reuters: A new study says beer is good for the bones. Reuters: CIT (NYSE:CIT) set John Thain compensation at $6 million a year. Reuters: State Farm warned NHTSA about Toyota in 2007. WSJ: Fannie Mae [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 1:53 am Nissan returns to Q3 profit, lifts forecastYOKOHAMA, Japan (Reuters) - Nissan Motor Co, Japan's third-largest automaker, returned to quarterly profit on Tuesday and lifted its outlook for the second time, as brisk global sales signal the worst may be over for the auto industry.Source: Reuters: Business News | 9 Feb 2010 | 1:50 am Nissan returns to Q3 profit, lifts forecast (Reuters)
Source: Yahoo! News: Business News | 9 Feb 2010 | 1:50 am JAL to stay with American in blow to DeltaTOKYO (Reuters) - Japan Airlines Corp will keep its partnership with American Airlines in the Oneworld alliance due to concerns that forging ties with rival suitor Delta Air Lines would make it difficult to achieve a quick turnaround, a source with knowledge of the matter said.Source: Reuters: Business News | 9 Feb 2010 | 1:46 am ECB Trichet departure sparks Greece rescue talkSYDNEY (Reuters) - European Central Bank President Jean-Claude Trichet is cutting short a trip to Australia to attend a special European Union summit, prompting market speculation initiatives are in the works to help resolve Greece's debt problems.Source: Reuters: Business News | 9 Feb 2010 | 1:40 am FTSE stable at start of trade (AFP)
Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 1:37 am Asia Markets And Europe Open (2/9/2010)Markets in Asia were mixed The Nikkei fell .2% to 9,933. Toyota (NYSE:TM) rose. The Hang Seng was up 1.2% to 19,790. The Shanghai Composite rose .5% to 2,949. At the open in Europe, the FTSE was flat at 5,090. The Dax was down .2% to 5,474. The CAC 40 was down .5% to 3,590. UBS (NYSE:UBS) fell after [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 1:30 am UBS back in black but outflows doubleSwiss bank’s return to profit in the fourth quarter overshadowed by net outflows from its mainstream private banking business almost doubling to SFr33.2bnSource: Financial Times - US homepage | 9 Feb 2010 | 1:12 am British Land sees recovery 'right across portfolio'British Land, Britain's second biggest developer, today provided some much-needed confidence to the property market by reporting that the value of its office blocks and shopping centres had risen 8.2 per cent in the last three months to December to £7.9 billion. Source: Latest Business News from Times Online | 9 Feb 2010 | 1:03 am Obama official 'very disturbed' by Anthem Blue Cross rate hikesThe insurer should give a 'detailed justification' for its plan to raise premiums on individual policies by as much as 39%, Health and Human Services Secretary Kathleen Sebelius says. ...Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Duluth Trading's radical form of marketing: honestyThe cozy little direct-mail catalog operation, which sells merchandise aimed solely at the American working class, is stepping out of its self-imposed obscurity with some regional test marketing. ...Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Business BriefingJapanese brewers' attempt to merge failsSource: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Two L.A. firms to pay settlement in probe of New York 'pay-to-play' scandalWetherly Capital and Markstone Capital agree to pay a combined $19 million and adhere to a code governing access to public pension money. The firms were not accused and did not admit wrongdoing. ...Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Duluth Trading's radical form of marketing: honestyThe cozy little direct-mail catalog operation, which sells merchandise aimed solely at the American working class, is stepping out of its self-imposed obscurity with some regional test marketing.The weeks leading up to the Super Bowl loosed a poisoned fog of hype upon the land. Who's in (Hyundai), who's out (Ford). Which of GoDaddy.com's racy ads would be a no-go? Clydesdales or no Clydesdales? Would Electronics Arts' spot for its Dante's Inferno video game really tell viewers to "Go to Hell"?
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am Tomato bribery probe just the beginning, investigators sayTo his friends, Randall Lee Rahal was just a food salesman, someone who routinely left his home on Shadyside Road in Ramsey, N.J., to crisscross the country hawking California tomatoes.Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Micro-distilleries gaining steamLike their brewery cousins, boutique operations creating relatively small batches of vodka, gin and other spirits have found a market in the U.S.If your liquor cabinet contains mostly familiar names such as Chivas Regal, Jack Daniel's or Smirnoff, get ready to make some new acquaintances.
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am New SEC-Bank of America settlement proposal faultedThe federal judge who rejected the first proposal complains that the latest plan, which includes a $150-million payment, does not punish individuals.A federal judge who rejected the government's first bid to settle civil charges against Bank of America Corp. showed little enthusiasm Monday for a new proposed settlement.
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am New SEC-Bank of America settlement proposal faultedThe federal judge who rejected the first proposal complains that the latest plan, which includes a $150-million payment, does not punish individuals. ...Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Toyota orders global Prius recallThe order targets a brake problem. The action follows the recall of 9 million other vehicles over acceleration issues.Toyota is recalling its 2010 Prius and Lexus hybrids worldwide because of brake problems, marking another setback for a carmaker already plagued with recalls and suspended sales because of safety issues.
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am Business BriefingJapanese brewers' attempt to merge fails
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am Toyota orders global Prius recallThe order targets a brake problem. The action follows the recall of 9 million other vehicles over acceleration issues. ...Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Dow closes below 10,000 for first time in 3 monthsInvestors pull back amid worries about Europe's debt crisis and U.S. economic recovery. Stock investors are facing...Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Dow closes below 10,000 for first time in 3 monthsInvestors pull back amid worries about Europe's debt crisis and U.S. economic recovery.Stock investors are facing the biggest test of their staying power since Wall Street's rally began nearly a year ago.
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am Micro-distilleries gaining steamLike their brewery cousins, boutique operations creating relatively small batches of vodka, gin and other spirits have found a market in the U.S. ...Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Digital sales poised as game changerA long-term trend is clear: Retail revenue from video games is declining, and online digital sales face rapid growth.The future of the video game business is playing out very differently on two sides of Los Angeles.
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am American Airlines to charge coach passengers $8 for a pillow and blanketIf you want a pillow and blanket in the coach cabin on an American Airlines flight, it's going to cost you.Source: RSS feed - channel BNPaperBusiness | 9 Feb 2010 | 1:00 am Two L.A. firms to pay settlement in probe of New York 'pay-to-play' scandalWetherly Capital and Markstone Capital agree to pay a combined $19 million and adhere to a code governing access to public pension money. The firms were not accused and did not admit wrongdoing.Two Los Angeles companies embroiled in a New York state pension fund corruption scandal agreed Monday to pay a total of $19 million to settle a state investigation into the "pay-to-play" scheme.
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am Obama official 'very disturbed' by Anthem Blue Cross rate hikesThe insurer should give a 'detailed justification' for its plan to raise premiums on individual policies by as much as 39%, Health and Human Services Secretary Kathleen Sebelius says.California insurance regulators asked Anthem Blue Cross to delay controversial rate increases of as much as 39% for individual policies, hikes that have triggered widespread criticism from subscribers and brokers -- and now from the federal government.
Source: L.A. Times - Business | 9 Feb 2010 | 1:00 am Swiss bank UBS returns to profitSwiss bank UBS reports its first quarterly profit for a year, helped by lower costs and a large tax creditSource: BBC News | Business | World Edition | 9 Feb 2010 | 12:10 am Toyota recalls 437,000 Prius cars as Lexus is sucked into safety alertToyota’s president today announced plans for a global recall of more than 430,000 of its flagship Prius hybrid cars and a production suspension of a high-end Lexus model in a move that plunges the Japanese automaker into a new quality-control debacle. Source: Latest Business News from Times Online | 8 Feb 2010 | 11:44 pm NZ sharemarket continues to fallThe New Zealand sharemarket continued to lose ground, sliding more than half a per cent today to reach levels last seen more than five months ago.The benchmark NZX-50 index was down 17 points, or 0.55 per cent, to 3076.451 at...Source: nzherald.co.nz - Business | 8 Feb 2010 | 11:34 pm Pompey hopeful over court battlePortsmouth say they are close to reaching an agreement to avoid being wound up in the High Court.Source: BBC News | Business | World Edition | 8 Feb 2010 | 11:32 pm How staff savers can share in profitsMore than 2m employees are signed up to share-save schemes.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 11:20 pm Toyota pledges more responsiveness to U.S. regulatorsWASHINGTON (Reuters) - Toyota Motor Corp President Akio Toyoda wrote in an article published on Tuesday that he has promised the top U.S. transportation official the troubled automaker will be more vigilant in the future about responding to safety regulators.Source: Reuters: Business News | 8 Feb 2010 | 11:01 pm NZ dollar fights back, still ends downThe New Zealand dollar managed to arrest a downward slide against US dollar today, as exporters fought against the kiwi being sold off heavily.Around 8am today the kiwi was buying US68.62c, having been able to push only as high...Source: nzherald.co.nz - Business | 8 Feb 2010 | 10:39 pm Are the New DIY Credit Cards a Good Deal? (Card Sharp)Issuers want you to think you can choose your finance terms. That's clever.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Award-Winning Funds: Foreign (Magazine Cover)The market crash wiped out almost a decade of gains for many foreign stock funds, but some rebounded well in 2009.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm 3 Stocks With Shrinking Debt (Screens)Hough: Companies growing stronger as they pay down what they owe.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Award-Winning Funds (Magazine Cover)It may have been the roughest five years in mutual fund history, but some managers delivered double-digit returns.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Moto Is Getting Its Mojo BackIf Motorola spins off its cellphone unit, its stock could rally 40%.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Award-Winning Funds: Balanced (Magazine Cover)These funds combine stock and bond holdings to ride out all sorts of markets.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Organic Economics: The Budget Version (Deal of the Day)Organic markets have been cutting prices. Should you buy?
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Award-Winning Funds: Global (Magazine Cover)These funds differ from their foreign-fund cousins in that they can hold as much in U.S.-based investments as in foreign ones.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Award-Winning Funds: U.S. Large-Cap (Magazine Cover)These three low-fee funds stand out for consistently beating the S&P 500.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Which Sector Will Bounce Back First? (On the Street)With the Dow falling below 10K, we asked who could rebound soon.
Source: SmartMoney.com | 8 Feb 2010 | 10:00 pm Planned GST, property and tax moves divide opinionThe Government's economic blueprint for the future, revealed by Prime Minister John Key this afternoon, has divided opinion in business and political circles.In his statement to Parliament, Mr Key strongly signalled a rise in...Source: nzherald.co.nz - Business | 8 Feb 2010 | 9:45 pm JAL to stay with American AirlinesJapan Airlines has decided to maintain its business partnership with American Airlines, spurning an offer by American rival Delta to defect to the latter’s SkyTeam allianceSource: Financial Times - US homepage | 8 Feb 2010 | 9:43 pm No word on company tax, say accountantsThe Government is looking at tax reforms as a broad package, rather than choosing the highest revenue generating options, says a senior KPMG executive.Jan Dawson, chief executive of KPMG, said the Tax Working Group's recommendations...Source: nzherald.co.nz - Business | 8 Feb 2010 | 9:30 pm Jackson’s doctor pleads not guiltyThe doctor hired to care for Michael Jackson was charged with killing the pop star after a lengthy investigation that found a lethal cocktail of drugs in the singer’s system when he died last yearSource: Financial Times - US homepage | 8 Feb 2010 | 8:14 pm Reaction: Housing shortage risk looms, say property investorsThe Prime Minister has just delivered his statement to Parliament, tipping an increase in GST, cuts in income tax rates and a change to the way property investment is taxed.There has been a swift reaction to his speech. Here a...Source: nzherald.co.nz - Business | 8 Feb 2010 | 7:30 pm Brian Fallow: Little force in Key's speechTax, the prime minister proclaims, is a powerful lever for the Government to boost the economy's performance.It's a pity then that instead of grasping that lever he is proposing to just crook his little finger around it.He...Source: nzherald.co.nz - Business | 8 Feb 2010 | 7:00 pm Bernard Hickey: Leave the country now Gen X & YJohn Key has just sent Generations X and Y a clear message: Leave the country now. He may as well have directed those younger taxpayers who are stupid/poor/unlucky enough not to own property to the websites for AirNZ, PacificBlue...Source: nzherald.co.nz - Business | 8 Feb 2010 | 7:00 pm Tomato bribery probe just the beginning, prosecutors sayAmid concerns about corrupt practices in the food industry, nine people have pleaded guilty to charges including racketeering, money laundering and bid-rigging in a federal probe of SK Foods.To his friends, Randall Lee Rahal was just a food salesman, someone who routinely left his home on Shadyside Road in Ramsey, N.J., to crisscross the country hawking California tomatoes.
Source: L.A. Times - Business | 8 Feb 2010 | 6:46 pm Sheep numbers fall, dairy cows reach recordSheep numbers have continued to fall, dairy cow numbers are rising and grain crops increased markedly, latest agricultural production figures show.According to the data published today by Statistics New Zealand (SNZ), dairy cattle...Source: nzherald.co.nz - Business | 8 Feb 2010 | 6:00 pm New financial regulations should help Tower, investors toldTower expects changes in regulations for the insurance and financial services industries to be good for its risk insurance and wealth management business, shareholders were told at their annual meeting.Tower has concentrated...Source: nzherald.co.nz - Business | 8 Feb 2010 | 5:30 pm Dow closes below 10000 for first time in three months (The Christian Science Monitor)The Christian Science Monitor - The Dow Jones Industrial Average has dropped below 10000 for the first time since early November.Source: Yahoo! News: Stock Markets News | 8 Feb 2010 | 5:07 pm Lexus hybrid steered into Toyota’s suspect-brake recallThe recall crisis at Toyota has spread to the Lexus, the carmaker’s luxury marque, as its hybrid model is set to join the third-generation Prius on recall because of brake-system faults. Source: Latest Business News from Times Online | 8 Feb 2010 | 5:01 pm Myners argues bonuses are bleeding pension fundsLord Myners will renew his attack on institutional investors this morning, telling them that an excessive bonus culture in the financial services industry is hitting British pensions. Source: Latest Business News from Times Online | 8 Feb 2010 | 5:01 pm Xstrata chief Mick Davis calls halt to growth through takeoversMick Davis, chief executive of Xstrata, broke the hearts of investment bankers and lawyers across the City yesterday when he put the brakes on the mining company’s aggressive deal-making. Source: Latest Business News from Times Online | 8 Feb 2010 | 5:01 pm Ethel Austin joins the list of clothing store casualties as shoppers stay homeBritain may have emerged officially from recession, but it did not feel that way on the high street yesterday. With Christmas long past and after a chilly, snowy January, the spectre of retail failure was looming large again with the news that Ethel Austin, the Merseyside-based clothing chain, had fallen into administration. Source: Latest Business News from Times Online | 8 Feb 2010 | 5:01 pm Fran O'Sullivan: PM's agenda leaves room for improvementIn my last online column I put forward five criteria by which business would just Key's economic agenda.Here's how I ratSource: nzherald.co.nz - Business | 8 Feb 2010 | 5:00 pm January chill for housing marketActivity in the UK housing market was frozen by the snowy weather although prices continued to rise, surveyors say.Source: BBC News | Business | World Edition | 8 Feb 2010 | 4:51 pm Judge promises to rule on SEC, BofA settlement (AP)
Source: Yahoo! News: Stock Markets News | 8 Feb 2010 | 4:34 pm The 401(k) match is back!Employees who took a hit on their savings last year might finally be in for some welcome news: Companies are stepping up efforts to help them save more for retirement.Source: Business and financial news - CNNMoney.com | 8 Feb 2010 | 4:26 pm A yield that points to fully valued marketsIf Capita Registrars' forecast of 5pc dividend growth in 2010 is right, then that would seem at odds with another of its findings - that the prospective dividend yield on UK equities is just 3.4pc.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 4:22 pm Meaner politics is in the gas pipelineSome commentators believe Ofgem was off target with its diagnosis of the perils faced by the UK energy market in its Project Discovery document.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 4:21 pm Change the tax code not the Takeover Code to encourage long termismRoger Carr, who has just stood down as chairman of Cadbury, will on Tuesday stand up in Oxford at the Said Business School and call for a review of UK takeover regulation.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 4:19 pm Santander shouldn't rush into Abbey IPOThe mooted flotation of Santander's UK business looks like an imperfect solution to a non-urgent capital problem.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 4:16 pm The UK mustn't be STUPIDThe PIGS (Portugal, Italy, Greece and Spain) are old hat. The new acronym on trading floors for possible dominoes if Greece should fall is STUPID (Spain, Turkey, UK, Portugal, Italy, Dubai).Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 4:12 pm How the major stock indexes fared on Monday (AP)AP - The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe.Source: Yahoo! News: Stock Markets News | 8 Feb 2010 | 4:11 pm Questor share tip: Build up a holding in Kier GroupSometimes the market gets things wrong. Questor believes this is the case with Kier Group.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 4:06 pm VAT Trap: The inevitable deficit fixThe gigantic deficits the Administration is projecting are appalling, and they provide a chilling look at our future: America is hurtling towards a fiscal trap that is forcing us into the only option we'll have to restore budgetary sanity: A Value-Added Tax.Source: Business and financial news - CNNMoney.com | 8 Feb 2010 | 4:06 pm DE Shaw eyes rival firms’ distressed holdingsDE Shaw has set up an in-house team to look at buying portfolios of distressed assets and is targeting rival hedge fund firms’ holdingsSource: Financial Times - US homepage | 8 Feb 2010 | 4:05 pm Questor share tip: Buy BAE SystemsOn Friday, BAE Systems said it had struck a deal with the UK and US authorities to settle a six-year investigation over bribery allegations.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 4:04 pm Explosion unlikely to slow gas plant development (AP)AP - The Connecticut explosion that killed five people won't slow the development of natural gas power plants. But it will likely lead to more scrutiny of a technique used to clear air from gas lines.Source: Yahoo! News: Business News | 8 Feb 2010 | 4:03 pm CIT sets John Thain's salary at $6 million a yearNEW YORK (Reuters) - CIT Group Inc said its new Chief Executive John Thain will get an annual base salary of $6 million, most of which is in stock, and a bonus of up to another $1.5 million, in a nod to compensation practices popularized by the Obama administration's pay czar.Source: Reuters: Business News | 8 Feb 2010 | 4:02 pm Dow closes below 10,000 for first time in 3 months (AP)
Source: Yahoo! News: Stock Markets News | 8 Feb 2010 | 4:01 pm Dow Jones falls below 10,000 for first time since November 4Fears that the eurozone's gathering debt crisis will stall the global recovery sent the Dow Jones index of US stocks crashing below 10,000 for the first time since November 4 last night.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Feb 2010 | 3:59 pm Shipping, Crude Oil, Gas, Disney, Taxable Munis: Taking StockSource: Bloomberg - All Podcasts | 8 Feb 2010 | 3:45 pm Xstrata sees ‘advantages’ in possible Glencore link-upXstrata fuelled renewed talk of a merger with Glencore, the privately held commodities trader, with the chief executive of the miner suggesting that a union could create valueSource: Financial Times - US homepage | 8 Feb 2010 | 3:35 pm Euro zone debt worries sink Dow below 10,000 (Reuters)
Source: Yahoo! News: Stock Markets News | 8 Feb 2010 | 3:31 pm Write-Offs: 02.08.10
$$$ German pensioners 'kidnapped financial adviser' [BBC] $$$ Cash Money Records Founders Start An Oil Company [BI] $$$ Should Individuals Be Regulated Like Wall St. Banks? [The Atlantic] $$$ Toy Mogul Said To Buy Madoff Penthouse [Dealbook] 
 Source: Dealbreaker | 8 Feb 2010 | 3:30 pm Motorola Still Owns US Handset MarketMotorola’s (NYSE:MOT) handset business came close to collapse after its failure to replace its successful RAZR cost it the No.2 global market share position in its industry. The firm’s shares crashed from over $26 in late 2006 to just above $3 last March. The stock trades at $6.55 now. Motorola’s new Droid product has shown [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Feb 2010 | 3:18 pm Bonus Watch: Greenwich Connecticut Is Feeling Good Again
Source: Dealbreaker | 8 Feb 2010 | 3:15 pm Don't Drink The Water: The Great CDS Colonial ReversalThe following post is by a hedge fund manager friend of DB who shall remain nameless. He runs the emerging markets desk at his firm. It's the financial version of Montezuma's revenge! The meltdown in Western European sovereign credit has led to a Great Colonial Spread Reversal. Until now, only select Anglosphere colonies had posted tighter spreads than the old metropolis. Sovereign spreads embodied the tradition order when it came to Latin America. When Latam hit turbulence, investors looked at European bank and corporate exposures to the old colonies, or figured on expensive support packages and pushed the colonizers a tad wider. But the shades of some conquistadors this week are weeping in Hades, for their world has been turned upside down. Cortez and Cabral, call your office! Pizarro, take a peek at your portfolio! Mexico and Peru now trade tight to Spain. Brazil is sitting well inside Portugal. For the moment, the sacred memory of the Raj is safe - State Bank of India still trades 50bps wide to UKT - but Gandhi's ghost may be rubbing his hands with anticipation while Clive sweats, as the spread is narrowing. France maintains a safe lead over francophone Africa as does Belgium with respect to Democratic Republic of Congo - for now!
Source: Dealbreaker | 8 Feb 2010 | 2:58 pm Big Company Bankruptcy Candidates (ZLC)(BGP)(WAVE)(ARM)Which US companies of significant size have among the highest odds of declaring bankruptcy? According to recent data from Audit Integrity, four firms are in extraordinary financial trouble. These corporations each has a high Audit Integrity Accounting and Governance Risk (AGR). The risk numbers are created by an analysis in which Audit Integrity examines over 100 accounting and governance [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Feb 2010 | 2:53 pm US Will Neva, Eva Lose AAA Rating, Says Tim Geithner
Source: Dealbreaker | 8 Feb 2010 | 2:19 pm Fred Goodwin: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 8 Feb 2010 | 2:19 pm Business At The Very Bottom Of The Income LadderBy Alex Blumberg Adam and Chana are flying home from Haiti right now. They've been sending us regular dispatches -- compelling, heartbreaking and fascinating. Yesterday, they hung out at a tent city in Petionville. There they spied a woman with a huge tub on her head. It was filled with chicken necks, which she was selling for a few pennies apiece. Her name is Yvrose, and she runs what turned out to be a very elaborate small business. Here's Adam: We got lots of tape of her business stuff, and it's way more complicated than I remember now. [She had a] sophisticated understanding of interest rates, rotating capital, credit, etc. She has to maintain long-term relationships with lots of different market players. She did say she has a notebook she keeps all her business in and that she was very lucky that, while her house collapsed in the earthquake, she did find her notebook in the rubble. Adam writes: Yvrose is a very small-time wholesaler, normally. Every two weeks she takes a bus to the Dominican Republic border and buys a bunch of produce and small products. She borrows around $500 or $1000 from a microcredit bank, which she has to pay back with 12% interest in 8 months. So, what is that-- 18% annualized, or so. She brings the products back to Port-au-Prince and lends them out to various small shop owners and people who sell stuff on the street. She gives them two weeks to sell everything and then comes back to pick up the money. Her goal is to turn over that same $1000 loan 16 times in the 8 month term The earthquake has been a big hit to Yvrose's business. She'd used the loan money to buy inventory, a lot of which has been destroyed. Now she has to scramble to pay the loan back. All this points to the fragility of doing business so near the poverty level: Any significant shock would destroy her fragile financial world. Sure, this earthquake was a particularly huge shock. But let's say she was sick for a month or had a broken leg or got robbed on her way to or from the DR or one of her kids needed surgery. Her lifestyle is based on constantly turning over a few hundred bucks and squeezing tiny bits of profit out of it. But it's so easy to imagine her losing that base capital and, along with it, everything. It gives you a sense of how hard it is to break out of poverty here. For her to actually accumulate wealth she has to be really smart, really ambitious, and she has to have nothing bad ever happen in her entire working life-- 30, 40, 50 years without any health shocks or burglars or anything. That's nearly impossible. Chana and Adam should be back in New York this afternoon. They'll be on the podcast this Friday, and they're working on a bunch of stories for the radio. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Feb 2010 | 2:17 pm The EA Conundrum.. An Earnings DUI (ERTS)Electronic Arts Inc. (NASDAQ: ERTS) is driving while intoxicated. The company cannot find its footing and cannot find its way home. In fact, things are getting to the point that many holders and traders are starting to hope that the price of the stock is low enough that the company will just get acquired. The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Feb 2010 | 2:16 pm Robert Sinche: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 8 Feb 2010 | 2:16 pm Google's TV silence ends at the Super BowlIf you watched the Super Bowl Sunday night, you saw at least two unprecedented events: The New Orleans Saints won their first championship, and Google ran an ad for its search engine on television.Source: Business and financial news - CNNMoney.com | 8 Feb 2010 | 2:15 pm PRESENTED WITHOUT COMMENT
IT GETS BETTER.
Source: Dealbreaker | 8 Feb 2010 | 2:03 pm Presented By:Source: Dealbreaker | 8 Feb 2010 | 2:03 pm From foreclosure bargain to money pitDusan Tatomirovic found a steal when he bought a foreclosed condo just north of Monterey, Calif., last April for $130,000.Source: Business and financial news - CNNMoney.com | 8 Feb 2010 | 1:51 pm Knife Catching for Traders… Toyota’s Stock (TM)How bad do things get for major brands suddenly under fire? If you have followed the brand damage assault against Toyota Motor Corp. (NYSE: TM), you know it gets bad for a brand and very bad for shareholders. Imagine if the recalls upon recalls that have continued morphing had started as the beginning of January [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Feb 2010 | 1:49 pm Dodge's new tough-guy color: Furious FuchsiaFurious Fuchsia, a pair of words not often seen together is the the name of a new special edition Dodge Challenger muscle car.Source: Business and financial news - CNNMoney.com | 8 Feb 2010 | 1:42 pm Citi's Big Idea
As Chris Whalen, at Institutional Risk Analytics, told us about the news: "It's cute. Though a bit ironic coming from them."Yes, it's ironic and the mere concept could be funny if it weren't that scary.
Source: Dealbreaker | 8 Feb 2010 | 1:30 pm A Beauty Queen Speaks
"There is not even a chance we will do one day in jail," Chiesi said in a recent telephone interview. "We didn't do anything wrong."
Source: Dealbreaker | 8 Feb 2010 | 12:59 pm U.S. Natural Gas Share Sales Could Affect Fuel Prices: AudioSource: Bloomberg - All Podcasts | 8 Feb 2010 | 12:52 pm ICAP Raised to `Outperform' at Credit Suisse: AudioSource: Bloomberg - All Podcasts | 8 Feb 2010 | 12:51 pm Gmail and Social Media Meet-Up, No Clear Winners (GOOG, NWS, NYT)We are hearing more reports about social media combining with email. This has been evolving for a decade or so, and now we have Google Inc. (NASDAQ: GOOG) reportedly trying to either catch up or take this one step further. There have been many rumors about more and more social-features coming, so this may just [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Feb 2010 | 12:31 pm Hants sign 'world franchise' dealHampshire form an alliance with IPL team Rajasthan Royals which they hope will become the first global cricket franchise.Source: BBC News | Business | World Edition | 8 Feb 2010 | 12:30 pm Blind Item: Which Bank CEO Likes Get Kicked In The Balls?
B, the CEO of a bank, likes for me to kick him repeatedly in the testicles. I threaten him with my two pink dildos, Fat Man and Little Boy. Sometimes I'm disturbed by the ease with which I perform acts of such egregious violence. He calls what we do making love.
Source: Dealbreaker | 8 Feb 2010 | 12:08 pm Traders make $8bn bet against euroData from the Chicago Mercantile Exchange show net short positions against the single currency rising from 39,500 contracts to 43,700 contracts, equivalent to $7.6bnSource: Financial Times - US homepage | 8 Feb 2010 | 12:03 pm Olympic firms in £1bn loan pledgeLloyds Bank says it is earmarking a special fund to alert businesses around the country to Olympic-related opportunities.Source: BBC News | Business | World Edition | 8 Feb 2010 | 11:56 am Education crisis helps private collegesPublic universities and community colleges are reeling from the impact of state budget cuts as enrollment on their campuses surges. But private colleges have welcomed the excess students with open arms. Caitlan Carroll reports.Source: Marketplace | 8 Feb 2010 | 11:15 am How U.S. feels about wealth gapMost everybody has lost economic ground the past few years, but some people are still wealthy while others are getting by on less. Monthly contributor Dan Ariely talks with Kai Ryssdal about wealth distribution.Source: Marketplace | 8 Feb 2010 | 11:15 am Kia ad spotlights another productAny Super Bowl broadcast is as much about the commercials as the game. One Super Bowl ad, for the car manufacturer Kia, stood out. Rico Gagliano explains.Source: Marketplace | 8 Feb 2010 | 11:15 am Best way to spread Haiti relief fundsMore than $640 million has been raised for Haiti so far, and the biggest agencies have gotten the most of it. The Chronicle of Philanthropy's Stacey Palmer talks with Kai Ryssdal about some ways money might be distributed more widely.Source: Marketplace | 8 Feb 2010 | 11:15 am MGM bets on Macau over Atlantic CityMGM Mirage is under pressure from New Jersey gaming regulators for alleged links its partner may have to Chinese organized crime syndicates. So MGM is divesting its stake in Atlantic City and holding onto its casino venture in China. Mitchell Hartman reports.Source: Marketplace | 8 Feb 2010 | 11:15 am Debt crisis puts pressure on eurozoneThe debt of some eurozone countries, like Greece, is leading to market anxieties. Stephen Beard reports on whether the euro can hold together.Source: Marketplace | 8 Feb 2010 | 11:15 am Fed puts focus on plan to tighten creditFederal Reserve Chairman Ben Bernanke is set to testify on Capitol Hill about how the Fed plans to prevent inflation once the economy recovers. Nancy Marshall Genzer reports the Fed has a new tool at its disposal.Source: Marketplace | 8 Feb 2010 | 11:15 am Dick Bove Defends Ken Lewis
Source: Dealbreaker | 8 Feb 2010 | 11:11 am Does Greece Matter?By David Kestenbaum I've been kind of puzzled by all the fuss over Greece's debt troubles. I get that the situation is bad (see this cartoon.) But I don't really get how it could become global. Here's an editorial today from the Greek newspaper, Kathimerini. The Greek economy accounts for less than 3 percent of that of the EU. Whatever happens -- even if Greece were to sink without a trace -- the European economy would hardly notice the difference. And this, from the WSJ today, quoting Aaron Gurwitz, head of global investment strategy for Barclays Wealth The California situation is much more important than Greece," he says. Greece comprises about 2% of Europe's gross domestic product, while California--struggling to pay its debts--represents more than 10% of the U.S. economy, he says. "Yet nobody's talking about California," he says. The Kathimerini editorial makes the case that this is really a moral hazard issue. If the EU helps Greece, other countries might take more risks. ("Well, Greece got bailed out...") When you think about it the EU is a strange hybrid. There's one central bank controlling the money supply. But Greece and the other countries have their own sometimes divergent politics, budgets, fiscal policy. Which I guess isn't all that different from California's situation in the U.S. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Feb 2010 | 10:51 am Lawrence Summers Discusses U.S. Budget Deficit: VideoSource: Bloomberg - All Podcasts | 8 Feb 2010 | 10:47 am Fried Frank’s Vartanian Discusses U.S. Banking Regulation: BLAWSource: Bloomberg - All Podcasts | 8 Feb 2010 | 10:36 am Stroock’s Cohen, Bernard Discuss Legal Ethics: BLAWSource: Bloomberg - All Podcasts | 8 Feb 2010 | 10:32 am Will A Court Ruling On Campaign Finance Raise Concerns About Corruption?By Ethan Arrow When Chana and David did a podcast last month on the 2009 Corruption Perception Index, I was a bit surprised to hear that the US ranked not in the top 5 least-corrupt countries, not in the top 10, but 19th. That's a lot more corrupt than Singapore, Australia and Norway, and just a little less corrupt than Barbados. In case you missed the podcast, they talked to Jermyn Brooks of Transparency International, the organization that compiles the annual index from a series of surveys. Jermyn assuaged our worries by explaining that rankings are based on perceived levels of corruption and not on actual corruption. He added that there's some room for improvement as countries end economic, political and social practices that many view as corrupt. That might be good news for countries like Nigeria (currently #130), which is trying to pass anti-corruption laws in an attempt to rid itself of the bribes and blackmail that have historically infected its politics and economy. (We did a podcast on that, too.) But what about the US? Brooks told us that one of the reasons the US ranks relatively low on the list - at least compared to other democracies - is that private money, albeit with some restrictions, is allowed to play a pivotal role in politics. Now things could get even worse, at least if you're listening to the critics (Obama included) of the recent Supreme Court ruling on campaign financing. On January 21st, the Court ruled that limiting corporate spending on political campaigns violates the First Amendment principle on free speech. So in the spirit of continuing our examination of corruption, I decided to ask Brooks what he thought about the ruling. If lobbyists, special interest groups and private corporations can now use even more money to sway elections, what effect might that have on next year's index? Here's what he had to say: "The international reputation of the US as a fair and transparent society will take a further blow, and nascent democracies will cite the US as an example why they do not need to deal with their own conflicts of interest between politicians and business." He added that the US is " most vulnerable to perceptions of corrupt practices with respect to business's aggressive lobbying, supported by campaign financing, to influence political decision making." Brooks' conclusion: "If the Supreme Court ruling is allowed to stand, it is bound to impact negatively on the Corruption Practices Index." I guess if Jermyn's right, we could find the US even further down the list next year, possibly behind Qatar, Saint Lucia or even France. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 8 Feb 2010 | 10:01 am The 25 Worst Infomercials EverInfomercials captivate. That’s their job. If they hold your attention long enough, you might find yourself picking up the phone and ordering that tomato peeler, talking dog collar, or remote-controlled bathroom caddy. Yet some infomercials leave you scratching your head in amazement. Are they really trying to sell this stuff? We collected 25 of the worst-ever infomercials, for your viewing pleasure. 25. The Shake Weight for Men If you hate working out for hours at the gym, the Shake Weight for Men can get you, um, ripped in just 6 minutes a day. 24. The Potty Putter There’s no place like the toilet to become a better golfer. 23. Flea Market Montgomery Flea Market Montgomery is so much like a mini-mall that they created a rap about it. 22. Stretch Tubing An innocent enough infomercial, until the exercise tube bites back. 21. Slap Chop Vince Offer, otherwise known as the ShamWow! guy, is brilliant in this infomercial. “You’re gonna love my nuts…” 20. Get a Grip I can see how this product is actually useful. But the infomercial deserves a cheeziness award for the slip at the beginning. 19. Richard Simmons Men shake their booties in this Richard Simmons infomercial. Simmons is, as always, wearing disconcertingly short shorts. 18. Wearable Towel Why not a robe? Oh right, they slip. 17. Extenze Scientifically proven to increase the size of a certain part of the male body. 16. Car Credit Superstore What makes this generic infomercial horrible is the singing at the beginning. “If you need help with a loan, baby just pick up the phone…” 15. Booty Pop Sexy curves and the ultimate lift for your girl-booty. Perkalicious. 14. Windows 7 Party It’s Friday night. You’ve had a long week at work. How about hosting a Windows 7 party? 13. The MagneScribe Tired of dropping pens? The MagneScribe offers you a simple, stylish solution: Just wear one around your neck. 12. Loud & Clear How about a personal sound amplifier for your inner eavesdropping pervert…er, ear? It even looks like a Bluetooth. 11. The Double Chin Toner Look like you’re stabbing yourself in the throat for a firmer, younger jawline. 10. Kush: A Natural Rest for the Breast Proper alignment for those pesky boobs. And, yes, it’s $55. 9. The Gazelle Tony Little shows off his good piece of equipment. 8. The Snuggie This blanket with sleeves is now a gag classic. 7. The Butt Sculpter If you need a little pick-me-up, why not try this humptastic exercise device? (Note: This video doesn’t have audio.) 6. The Nads Bearded Lady This woman’s pre-Nads beard and mustache makes you forget everything else in this infomercial. 5. Comfort Wipe Extend your toilet wiping arm a full 18 inches in this first toilet paper improvement since the 1880s. 4. Great Looking Hair Why use Rogaine when you can graffiti out your baldness with a spray? 3. The Tiddy Bear Finally, a way to prevent seatbelt burn on your chest. 2. UroClub Have problems controlling your bladder on the golf course? The UroClub is designed so that you can discreetly pee into the handle. 1. Hawaii Chair Take the work out of your workout by swivelling your butt around on this bizarre chair. As seen on Ellen.
Source: Business Pundit | 8 Feb 2010 | 9:15 am Luxury Shoppers are Back
While some people scramble for free khakis, others are indulging in high-end indulgences like designer perfumes and $5,000 coats. The Financial Times has more: More prosperous American shoppers seem to be defying continuing high unemployment levels and economic uncertainty to renew their spending on luxuries such as jewellery, fashion and cosmetics. That is the picture emerging from the current round of US earnings and sales reports. Tracey Travis, chief financial officer of Polo Ralph Lauren, said last week that the fashion brand and retail company had “slowly begun to see the gradual return of our core luxury customer”, including buyers of couture dresses that sell for more than $4,000. Fabrizio Freda, chief executive of Estée Lauder, has said that sales of its beauty products at “prestige” stores – such as traditional department stores – had grown faster than at “mass” drugstores and discounters during November and December, reversing the trend seen earlier in the year. “We view this as a return of the aspirational consumer,” he said. The evidence of greater readiness to spend comes in spite of continuing high unemployment, with about 20 per cent of the US population unemployed or working casually or part time. Richard Hastings, retail strategist at Global Hunter Securities, said that roughly half of the 80 per cent of Americans fully employed were not affected by the depressed housing market and were now more ready to spend as they had become less concerned about their own jobs. I’d like to know what industries and businesses those 40% of Americans work in.
Source: Business Pundit | 8 Feb 2010 | 8:23 am China Reveals Its Stakes in US CompaniesFor the first time, China Investment Corp., the country’s sovereign wealth fund, has filed a Form 13F with the US Securities and Exchange Commission listing details of its investments in companies traded on US exchanges. With a couple of exceptions, the investments are small and pose no immediate threat of an attempted takeover. But CIC does sit [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Feb 2010 | 8:18 am MFP’s Price: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 8 Feb 2010 | 8:14 am Arthur Levitt: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 8 Feb 2010 | 8:13 am Dockers Free Pants Campaign is a Hit
After airing a Super Bowl commercial last night featuring men singing in their underwear, Dockers is giving away free khakis in a a raffle. You enter your name, gender, email address, and ZIP code to enter. Next, you click on an image of khaki pants. They slide away and tell you if you won. If not, you get a coupon code for 15% of a pair of men’s Soft Khakis. You can play every day up to February 15. The Dockers Free Pants campaign is doing really well. It started by shocking and possibly confusing people with a Super Bowl commercial featuring some not-terribly-attractive men wearing less than you would want. Next, it lured in Web users with a promise of free pants. Before you get a chance to win those pants, they acquire information about you that will be useful for marketing purposes. If you don’t unclick the default newsletter selection, they also get you on their newsletter. Finally, there’s an interactive component. You click on pants and watch them slide away to see if you’ve won. Didn’t win? Why not buy a pair at 15% off, or just keep visiting their website for a week? It’s a slick combination of TV, Web, and interactive advertising. And it appears to be working very well for Dockers.
Source: Business Pundit | 8 Feb 2010 | 7:32 am Morning Report: Former Merrill Chief To Head CIT, Prius Recall LikelyBy Caitlin Kenney Good morning! Here's what we're reading: --CIT Names Ex-Merrill Chief John Thain to Run Lender "John Thain, the ousted chief of Merrill Lynch & Co., was named to lead CIT Group Inc., the commercial lender that emerged from bankruptcy in December, after almost a four-month search for a replacement. "If he can pull this off, he's going to be the king," Brian Charles, a debt and equity analyst with R.W. Pressprich & Co., said in an interview. --Toyota readies global Prius recall An announcement to recall the Prius, cumulative global sales of which total more than 300,000 units, will likely come from a filing with Japan's Transport Ministry on Tuesday, followed by plans elsewhere, the source said. The Prius was Japan's top-selling car in 2009 and is arguably Toyota's most important model, as car makers around the globe prepare for a new era in low-emission vehicles. --Housing Rebound in Canada Spurs Talk of a New Bubble Last Wednesday, a housing-price index for Canada's six biggest cities posted its seventh straight monthly gain, showing home prices in November are now back to their prerecession peak. Another broader measure shows the average home price in 2009 hitting a record. Home building has picked up too, with housing starts in December jumping to their highest level since October 2008. --After Buying Spree, China Owns Stakes in Top U.S. Firms Although most of the stakes were small, China Investment Corp., the government's $300 billion investment fund, now owns stock in some of the best-known American brands, including Apple, Coca-Cola, Johnson & Johnson, Motorola and Visa. The filing offers a glimpse of how China is trying to diversify its more than $2 trillion in foreign currency holdings with stock, rather than investing almost entirely in U.S. Treasury bonds and other debt securities issued by governments and by government-sponsored enterprises like Fannie Mae. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Feb 2010 | 7:31 am Introducing the New “Privacy Sweater”
Never deal with pesky lighting problems or seatmates again…
Source: Business Pundit | 8 Feb 2010 | 5:08 am
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