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BBC summer schedule: Ascot and opera for Mark ThompsonFor the millions who huddled round their television sets as the drizzle fell, the summer fixtures of 2009 were disappointingly damp. But for the Director-General of the BBC, they marked a hectic season of socialising. Source: Latest Business News from Times Online | 10 Feb 2010 | 5:01 am Rescue hopes boost Greek bonds, euro faltersGreek government bond prices continue a sharp rebound amid reports European Union officials are fashioning a rescue package.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 3:35 am Norway's Telenor posts 25 pct rise in Q4 profits (AP)AP - Norwegian telecommunications group Telenor ASA on Wednesday reported a 25 percent jump in fourth-quarter profits, primarily thanks to growth in Asia, but said it may have to cut costs this year to strengthen its finances.Source: Yahoo! News: Business News | 10 Feb 2010 | 3:29 am Stocks set for gainsU.S. stocks were set for higher Wednesday amid ongoing optimism over a potential rescue plan for Europe's debt-ridden nations.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 3:28 am Honda airbag risk triggers global recallJapanese carmaker says it will recall another 438,000 vehicles globally to fix a defect that can cause airbags in several models to over-inflate and rupture when deployedSource: Financial Times - US homepage | 10 Feb 2010 | 3:28 am China Trade Recovers As World Economies Wallow In Debt, UnemploymentChina posted more extraordinary trade figures for January. Exports for the month rose 21% and imports were up 86%. Each of the figures is an improvement on the same measurements in late 2009. Economists claim that the news will put pressure on Beijing to let the value of the yuan rise, but the Chinese government has [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 3:25 am Banks tax 'would raise billions'A transaction tax on banks would raise as much as $400m a year (£250bn; 291.2bn euros), campaigners say.Source: BBC News | Business | World Edition | 10 Feb 2010 | 3:22 am Honda adds 437,000 cars to global air bag recall (AP)
Source: Yahoo! News: Business News | 10 Feb 2010 | 3:20 am Toyota's next problem: LawsuitsFixing millions of gas pedals and brakes and convincing customers their vehicles are safe could end up being the least of Toyota's challenges. Some experts think the price tag from legal settlements could end up topping the company's estimate of $2 billion in recall costs.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 3:17 am EU nations' reality: Greece's woes are theirs, too (AP)
Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 3:11 am EU nations' reality: Greece's woes are theirs, too (AP)
Source: Yahoo! News: Business News | 10 Feb 2010 | 3:11 am Sanofi says vaccines to help lift 2010 earningsPARIS (Reuters) - French drugmaker Sanofi-Aventis beat forecasts for fourth-quarter profit and expects earnings to rise 2 to 5 percent this year as growth areas such as vaccines offset stronger competition from generic rivals.Source: Reuters: Business News | 10 Feb 2010 | 3:11 am Honda recall adds to Japan auto sector woes (AFP)
Source: Yahoo! News: Business News | 10 Feb 2010 | 3:07 am Signs Of The Apocalypse: A Bailout For Europe’s WeaklingsIt is more likely by the day that Greece will be helped out of its sovereign debt problems and that Spain and Portugal may, too. The most likely avenue for a rescue as a guarantee of debt by EU nations, led by Germany which is the largest nation in the alliance based on GDP. The other option [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 3:00 am Can Amazon find common ground with publishers?Since Amazon.com debuted its first Kindle e-book reader late in 2007, the reaction within the book industry has been some mix of welcome and scorn. But matters now suggest something more of a middle ground, with important repercussions for publishers and the e-commerce giant alike.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 3:00 am Sanofi-Aventis Q4 profit up on swine flu vaccines (AP)AP - Sanofi-Aventis reported a 10 percent increase in fourth quarter net profit Wednesday as strong sales of its swine flu vaccine drove full year earnings above expectations.Source: Yahoo! News: Business News | 10 Feb 2010 | 2:59 am Vestas cuts revenue outlook as profit holds flatWind turbine manufacturer Vestas Wind Systems on Wednesday reports a broadly flat fourth-quarter profit, but said order delays meant revenue fell short of expectations, and it cut its outlook for 2010.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 2:54 am Peugeot Citroen narrows lossesFrench car maker PSA Peugeot Citroen SA said Wednesday that it reduced losses in the second half of last year because of government scrappage plans but predicted that 2010 will remain...Source: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 2:53 am Peugeot Citroen narrows losses (AP)AP - French car maker PSA Peugeot Citroen SA said Wednesday that it reduced losses in the second half of last year because of government scrappage plans but predicted that 2010 will remain challenging.Source: Yahoo! News: Business News | 10 Feb 2010 | 2:53 am Todd Harrison: Why European debt matters to the U.S.Times are tough and those struggling to make ends meet have focused their efforts close to home. But what's happening outside our borders is important, writes Todd Harrison.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 2:49 am UPDATE 2-Nobel Biocare Q4 disappoints, eyes growth in 2010* Says dental implant market may return to growth this yearSource: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 2:45 am Honda expands airbag recall as more Toyotas probedTOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis.Source: Reuters: Business News | 10 Feb 2010 | 2:45 am Greek unions launch 1st assault on austerity planA civil servants' strike grounded flights and shut down public services across Greece on Wednesday, as labor unions mounted their first major challenge to austerity measures in the...Source: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 2:36 am Greek unions launch 1st assault on austerity plan (AP)
Source: Yahoo! News: Business News | 10 Feb 2010 | 2:36 am Asian markets end with small gainsMajor Asian markets advanced Wednesday as hopes for a rescue package for Greece improved appetite for risk and drove resources and shipping stocks higher across the region.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 2:31 am London Markets: Icap shares extend recent gains as FTSE 100 risesThe interdealer-broker is one of the strongest performers in the top U.K. index following its second upgrade this week.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 2:26 am Hopes for Greece provide positive backdropGlobal Markets Overview: Stocks rise and forex markets ease as encouraging economic data from Asia and the prospects of a rescue package for Greece lift sentimentSource: Financial Times - US homepage | 10 Feb 2010 | 2:23 am Hopes for Greece provide positive backdrop09:20 GMT: Encouraging economic data out of Asia and hopes for a German-backed rescue package for Greece left traders in a more positive mood on Wednesday. The FTSE World equity index rose 0.2...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 2:23 am Stocks rise on Greek bailout hopes; euro dipsLONDON (Reuters) - World stocks rose on Wednesday and Greece's borrowing costs fell on the prospects of a Greek bailout, while safe-haven German government bond prices dipped and the euro eased after the previous session's hefty gains. Oil prices fell after data showed a large build in U.S. inventories but gold prices were flat, taking a pause from Tuesday's rise.Source: Reuters: Business News | 10 Feb 2010 | 2:22 am Stocks rise on Greek bailout hopes; euro dips (Reuters)
Source: Yahoo! News: Business News | 10 Feb 2010 | 2:22 am A seasonal guide to home maintenanceYou know that your house needs regular upkeep in order to stay in good condition. Not only can little maintenance issues become expensive and turn into major repairs, but nowadays problems that boom-time buyers might have overlooked can be huge liabilities when it comes time to sell, says James Carey, author of "Home Maintenance for Dummies." Good thing that most crucial maintenance tasks can be done just once a year at a certain time. Read on for the right dates to mark in your calendar.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 2:21 am Toyota starts fixing Priuses recalled in Japan (AP)
Source: Yahoo! News: Business News | 10 Feb 2010 | 2:16 am Peugeot's second-half loss narrows on incentivesFrench car maker PSA Peugeot Citroen reports its second-half loss narrowed from the first half after government incentive programs prompted a rebound in demand for new cars.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 2:13 am Your cell phone company's dirty little secretMobile phone companies have been lauded for slashing the cost of unlimited voice plans, but many wireless customers' monthly bills are actually going to get a bit more expensive.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 2:09 am New report: Consumers spent modestly in January (AP)
Source: Yahoo! News: Business News | 10 Feb 2010 | 2:09 am Scrapped auto dealers not going quietlyToyota isn't the only auto manufacturer taking heat right now. More than half of the auto dealers Chrysler and General Motors terminated in May have filed notice that they will appeal and try to regain their franchise.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 2:05 am Europe Markets: Reports of Greek aid lift stocks in EuropeEuropean shares were higher on Wednesday amid hopes that a solution will be soon be found for Greece’s financial woes, though the focus wasn’t totally macro as steel giant ArcelorMittal and carmaker Peugeot declined on disappointing earnings news.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 2:03 am Google Buzz slammed by Yahoo, MicrosoftWell, that didn't take long.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 2:02 am Greek debt crisis: Germany to the rescue?The German government may offer an aid package to Greece and other debt-ridden European nations in an effort to stave off the default concerns that have stunted global markets, according to reports.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 2:01 am UPDATE 3-Daily Mail Q1 sales decline stable, January betterLONDON, Feb 10 (Reuters) - British media company Daily Mail & General Trust said supermarket price wars and new mobile phones had lifted newspaper advertising in January, after reporting an 8 percent...Source: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 1:57 am UPDATE 1-UK firm gets final green light for stem cell trial* ReNeuron shares up 12.5 percent (Adds rise in shares)Source: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 1:57 am Daily Mail hints at New Year revenue recoveryDaily Mail and General Trust (DMGT) signalled a pick up in advertising revenue at its UK newspapers and online sites in January but said that it remained cautious about the outlook for the year as it reported overall revenues declines for the final quarter of 2009. Source: Latest Business News from Times Online | 10 Feb 2010 | 1:54 am Insurers help London shares extend gainsLondon equities continued to rise on Wednesday, with insurance stocks in demand on returning hopes for potential consolidation. As confidence started to return to the global markets on hopes Germany...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:54 am Disney profit tops expectationsWalt Disney Company shares rose almost 2% in after-hours trading Tuesday after the media giant reported fiscal first-quarter profit and sales that beat analysts' expectations.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 1:52 am Cautious ArcelorMittal returns to profitSteel maker returns to profit as it doesn't write down the value of its inventory as demand edges higher.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 1:52 am Media Digest 2/10/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Honda (NYSE:HMC) expanded its recall by 440,000 as more Toyota (NYSE:TM) models were probed. Reuters: ArcelorMittal sees a slow improvement in steel production in Q1. Reuters: IMF aid for Greece may be unavoidable. Reuters: BHP Billiton (NYSE:BHP) beat numbers and was cautious about China. Reuters: Investors are questioning the size of Morgan Stanley (NYSE:MS) pay packages. Reuters: Disney (NYSE:DIS) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 1:50 am Currencies: Dollar edges up vs. rivals in Asian tradingThe dollar edges higher in Asian trading, but mostly sticks to recent ranges, as investors await a Thursday meeting at which European Union leaders are to discuss the economic outlook, including assistance to Greece and other heavily indebted southern European countries.
Source: MarketWatch.com - Top Stories | 10 Feb 2010 | 1:49 am Steel giant ArcelorMittal posts profit despite crisisArcelorMittal, the world's biggest steelmaker, reported on Wednesday a modest profit for 2009, beating analyst expectations that it would make a net loss because of the sharp fall in pricesSource: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 1:48 am Nordea profit drops 30 percent in Q4Nordea Bank AB, the largest banking group in the Nordic region, reported Wednesday a nearly 30 percent drop in fourth-quarter net profit, due mainly to rising costs and loan losses. The...Source: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 1:41 am World stocks rise as Europe debt crisis fears easeWorld stock markets rose Wednesday on hopes a government debt crisis in Europe can be quarantined to smaller economies. Investors turned optimistic amid expectations plans are being...Source: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 1:29 am World stocks rise as Europe debt crisis fears ease (AP)
Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 1:29 am FTSE 100 shares firm at open (AFP)
Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 1:29 am Asia Markets And Europe Open (2/10/2010)Markets in Asia were higher. The Nikkei rose .3% to 9,964. Recall news pushed Honda (NYSE:HMC) down but Toyota (NYSE:TM) rose. The Hang Seng rose .7% to 19,922. China Life (NYSE:LFC) rose. The Shanghai Composite was up 1.1% to 2,982. At the open, the FTSE was up .4% to 5,130. The Dax rose .7% to 5,539. The CAC 40 was [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 1:25 am European car market will fall in 2010: PeugeotFrench auto company PSA Peugeot Citroen on Wednesday forecast that Europe's car market will shrink by a further nine percent this year as the company reported massive losses in 2009. "InSource: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 1:24 am Peugeot helped by scrappage dealsFrench car maker Peugeot Citroen reports a boost from car scrappage schemes despite reporting big losses.Source: BBC News | Business | World Edition | 10 Feb 2010 | 1:15 am Japanese government attacks Toyota for prompting 'Japan-bashing'Toyota's delay in dealing with the mass recall of cars has led to 'Japan-bashing,' the Japanese government said today, as it heaped pressure on the world's largest carmaker to regain the trust of drivers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Feb 2010 | 1:13 am Sanofi-Aventis Q4 profit up on swine flu vaccinesSanofi-Aventis reported a 10 percent increase in fourth quarter net profit Wednesday as strong sales of its swine flu vaccine drove full year earnings above expectations. France's...Source: RSS feed - channel BNewsBusiness | 10 Feb 2010 | 1:11 am Chinese exports rise 21% in JanuaryChina, which overtook Germany as the world's biggest goods exporter last year, posted bumper export figures in January when shipments rose 21 per cent from the previous year. Imports also increased...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:11 am Chinese exports rise 21% in JanuaryChina, which overtook Germany as the world’s biggest good exporter, has posted bumper export figures in January when shipments rose 21 per cent from the previous yearSource: Financial Times - US homepage | 10 Feb 2010 | 1:11 am Greeks strike over austerity planPublic sector workers in Greece launch a nationwide strike in protest at government measures to tackle the budget deficit.Source: BBC News | Business | World Edition | 10 Feb 2010 | 1:11 am Toyota UK repairs to take a month as parts arriveToyota is set to begin repairing the accelerator pedals on 180,000 cars across Britain today as part of a process that is expected to take one month to complete. Source: Latest Business News from Times Online | 10 Feb 2010 | 1:08 am For makers of 'Valentine's Day,' going on location means going greenSaving energy, cutting waste and recycling on the set help lower the movie's carbon footprint and raise the bar for 'green filmmaking.'The star-studded romantic comedy "Valentine's Day" is expected to generate plenty of green at the box office this weekend.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am Rep. Henry Waxman casts further doubt on ToyotaThe chairman of the House committee investigating the automaker says it may not really know why some of its cars accelerate suddenly.Despite announcing two recalls to address sudden-acceleration problems, Toyota Motor Corp.'s conflicting statements are raising doubts about whether the company knows the exact cause of the defects, the chairman of the House committee investigating the automaker said Tuesday.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am Google launches social networking service BuzzThe rollout may be the company's boldest attempt to challenge Twitter and Facebook.Google Inc. is getting more social.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am HMO members more satisfied in 2009Approval ratings rise for six of California's nine largest providers in annual surveyAlthough health maintenance organizations in California need to improve screenings for cancer and other medical conditions, most receive high marks for customer satisfaction, a new state report said Tuesday.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am Disney restructuring costs drag on quarterly profitEarnings slip to $844 million from $845 million a year earlier. But excluding one-time items, profit of 47 cents a share beats analysts' average estimate of 38 cents. Revenue rises 1%.Walt Disney Co., its bottom line dragged down by restructuring costs, reported a modest drop in its fiscal first-quarter profit.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am Stocks jump on hopes for Greece debt assistanceNEW YORK -- The Dow Jones industrial average jumped back above 10,000 on hope that the European Union will help Greece manage its growing debt burden.Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:00 am Google launches social networking service BuzzThe rollout may be the company's boldest attempt to challenge Twitter and Facebook. Google Inc. is getting more...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:00 am Coca-Cola's 4th-quarter profit rises 55% on higher overseas salesCoca-Cola Co. said Tuesday that its fourth-quarter profit rose 55% as sales grew in China and India.Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:00 am Congress opens probe into Anthem Blue Cross rate increasesTwo House panels announce they are investigating the hikes, which take effect March 1. Lawmakers ask the company's CEO to explain the reasons for the increases.Congress opened an investigation Tuesday into Anthem Blue Cross' impending rate increases in California as President Obama cited the premium hikes -- some as high as 39% -- in his bid to pass national healthcare legislation.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am Rep. Henry Waxman casts further doubt on ToyotaThe chairman of the House committee investigating the automaker says it may not really know why some of its cars accelerate suddenly. ...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:00 am Coca-Cola's 4th-quarter profit rises 55% on higher overseas salesCoca-Cola Co. said Tuesday that its fourth-quarter profit rose 55% as sales grew in China and India.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am PG & E amps up bid for powerThe utility's initiative has become Proposition 16, which is written broadly to apply to all public power systems. By undermining all competition from public power agencies, it will benefit no one excSpeculation has been raging over whether the U.S. Supreme Court’s recent junking of federal campaign spending limits on corporations will be very bad for democracy, or not so bad.
Source: L.A. Times - Business | 10 Feb 2010 | 1:00 am Congress opens probe into Anthem Blue Cross rate increasesTwo House panels announce they are investigating the hikes, which take effect March 1. Lawmakers ask the company's CEO to explain the reasons for the increases. ...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:00 am HMO members more satisfied in 2009Approval ratings rise for six of California's nine largest providers in annual survey Although health maintenance...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:00 am PG & E amps up bid for powerThe utility's initiative has become Proposition 16, which is written broadly to apply to all public power systems. By undermining all competition from public power agencies, it will benefit no one exc...Source: RSS feed - channel BNPaperBusiness | 10 Feb 2010 | 1:00 am Arcelor profit up as demand risesArcelor Mittal profits reach $1.07bn (£682m) in the three months to December 2009 as demand for steel increases.Source: BBC News | Business | World Edition | 10 Feb 2010 | 12:55 am ArcelorMittal sees only slow steel recovery in first quarterBRUSSELS (Reuters) - ArcelorMittal, the world's top steelmaker, cautioned its markets would only recover slowly as it forecast higher shipments but lower selling prices in the early months of 2010, putting pressure on core profits.Source: Reuters: Business News | 10 Feb 2010 | 12:50 am Pompey seek winding-up delayPortsmouth say they are close to reaching an agreement to avoid being wound up in the High Court this week.Source: BBC News | Business | World Edition | 10 Feb 2010 | 12:21 am China's export prowess confirmedA day after China was confirmed as the world's largest exporter, figures for January show continued export strength.Source: BBC News | Business | World Edition | 10 Feb 2010 | 12:20 am BHP beats forecasts, cautious on China demandMELBOURNE (Reuters) - Top global miner BHP Billiton signaled caution over a sustained global recovery and held off from a share buyback after reporting its weakest first-half profit in four years. BHP's July-December profit nevertheless beat market forecasts and was 24 percent stronger than in the previous half, spurring the miner to raise its dividend slightly, pushing its shares up more than 3 percent.Source: Reuters: Business News | 9 Feb 2010 | 11:42 pm NZ market closes slightly higherThe New Zealand sharemarket was mildly positive today ahead of results from Steel & Tube on Thursday and Telecom on Friday.News of strong earnings from the world's biggest miner BHP Billiton and ASB's parent Commonwealth Bank...Source: nzherald.co.nz - Business | 9 Feb 2010 | 11:27 pm Honda adds 437,000 cars to global airbag recallHonda has been forced to recall an additional 437,000 cars due to faulty airbags that have injured 11 people and caused one fatality in the latest problem to hit a Japanese automaker. Source: Latest Business News from Times Online | 9 Feb 2010 | 11:24 pm Nikkei rises 0.5 percent on hopes of Greece aid plan (Reuters)Reuters - Japan's Nikkei average rose 0.5 percent on Wednesday, with blue-chip shares that had been sold off on concerns about fiscal stability in Europe regaining ground with news of potential aid for heavily indebted Greece.Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 10:31 pm Dollar mixed on concern over Greece bailoutThe New Zealand dollar was mixed today and investors digested conflicting reports about the likelihood of a bailout for Greece's finances.The euro rose against the yen and the Australian dollar rose as risk aversion was lowered...Source: nzherald.co.nz - Business | 9 Feb 2010 | 10:23 pm Honda issues global airbag recallHonda heaps more woe on Japanese carmakers by extending an existing airbag safety recall by 437,700 cars worldwide.Source: BBC News | Business | World Edition | 9 Feb 2010 | 10:10 pm Disability Insurance: Who Gets Denied?The health problems most likely to get workers in scrapes with their insurers.
Source: SmartMoney.com | 9 Feb 2010 | 10:00 pm Good Buys for Bad TimesCVS, Western Union and PetSmart are among those well-suited to weather the slow recovery.
Source: SmartMoney.com | 9 Feb 2010 | 10:00 pm Retirees: College Courses for the Taking (Education and Your Money)Despite cutbacks, universities offer auditing opportunities for retirees.
Source: SmartMoney.com | 9 Feb 2010 | 10:00 pm Too Sick to Work? They DisagreeWhy companies are slashing disability coverage, and how workers are coping.
Source: SmartMoney.com | 9 Feb 2010 | 10:00 pm 3 Bargain Stocks With 3% Yields (Screens)Hough: These companies look cheap relative to sales and dividends.
Source: SmartMoney.com | 9 Feb 2010 | 10:00 pm The Love Machine: 5 Dating Apps (Deal of the Day)Your smartphone might help you score, but it can also steer you wrong.
Source: SmartMoney.com | 9 Feb 2010 | 10:00 pm Tax reforms to put brakes on house prices - expertsThe dream of first home ownership will be made easier by Prime Minister John Key's likely tax reforms, say economists.In a speech to Parliament yesterday, Mr Key indicated the Government would change the way property was taxed....Source: nzherald.co.nz - Business | 9 Feb 2010 | 9:28 pm Share-based KiwiSaver funds enjoy recoveryShare-based growth funds have been the best performers for KiwiSaver over the last year but default funds have proved best over two years, according to a survey of the retirement savings scheme.KiwiSaver funds have fared well...Source: nzherald.co.nz - Business | 9 Feb 2010 | 9:10 pm Tax group head 'disappointed' at GST media reportsThe chair of the Tax Working Group is disappointed with some of the media coverage of a possible GST increase, and says there are many misunderstandings around what the effects of an increase in GST would be.Tax Working Group...Source: nzherald.co.nz - Business | 9 Feb 2010 | 8:30 pm Retail recovery still patchy, say latest statsNew Zealand consumer spending on credit and debit cards rose for a third straight month in January, helped by purchases at petrol stations, underlining the economy's slow recovery from its slump.The value of transactions on electronic...Source: nzherald.co.nz - Business | 9 Feb 2010 | 8:00 pm Charges added in Rajaratnam insider trading case (Reuters)
Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 7:58 pm Investors questioned Morgan Stanley's pay: reportNEW YORK (Reuters) - Morgan Stanley's move to cut the firm's pay ratio followed prodding by large investors who questioned the firm's high pay levels, and the firm is preparing to take further steps to address shareholder concern, The Wall Street Journal Online reported on Tuesday.Source: Reuters: Business News | 9 Feb 2010 | 7:57 pm Last GST hike had little impact, say tax expertsA GST hike of 2.5 per cent in 1989 had little impact on consumers and the wider economy, and modern-day shoppers may find some reassurance in history.Bob Buckle, Tax Working Group chair and dean of the faculty of commerce and...Source: nzherald.co.nz - Business | 9 Feb 2010 | 7:30 pm Senate jobs bill: What's missingSenate Democrats' draft plan for job creation, circulated Tuesday, contains a couple of employment measures and a lot of leftover business.Source: Business and financial news - CNNMoney.com | 9 Feb 2010 | 7:14 pm Disney quarterly results beat expectationsLOS ANGELES (Reuters) - A strong performance at its cable division and cost-cuts at its film studio propelled Walt Disney Co to better-than-expected earnings, but clouds remained over its theme parks.Source: Reuters: Business News | 9 Feb 2010 | 7:12 pm Bridge poses a tight squeeze for cargo shipsSome container vessels barely fit under the Gerald Desmond Bridge in Long Beach. A plan to replace it is opposed by residents.Before dawn, in the waters of Long Beach's Back Channel, three tugboats struggle to control the container ship MSC Texas as it approaches the Gerald Desmond Bridge.
Source: L.A. Times - Business | 9 Feb 2010 | 6:27 pm Toyota faces a massive marketing challengeTo win back confidence in its vehicles' safety as worries grow of further bad news, the automaker must embrace a rapidly evolving strategy and reach out boldly to consumers, crisis experts say.Toyota has begun the painful and difficult task of trying to convince consumers that they should buy the beleaguered company's cars -- even as worries mount that more bad news may be ahead.
Source: L.A. Times - Business | 9 Feb 2010 | 6:23 pm Tax avoidance bill pushes ASB to $10m first-half lossASB Bank has taken $209 million of a $264 million tax and interest bill from tax avoidance settlements onto its books in the six months ended December 31, the Commonwealth Bank of Australia-owned lender announced today.The one-off...Source: nzherald.co.nz - Business | 9 Feb 2010 | 6:00 pm Paulson, Buffett say U.S. needed tough medicineNEW YORK (Reuters) - Former Treasury Secretary Henry Paulson and billionaire investor Warren Buffett, from different sides of the political spectrum, expressed support on Tuesday for the U.S. government's aggressive steps in 2008 to keep the nation's banks and economy from a complete meltdown.Source: Reuters: Business News | 9 Feb 2010 | 5:54 pm Disney chief hails potential of iPadBob Iger, chief executive of Walt Disney, delivered a ringing endorsement of Apple’s iPad and said that the media company was developing content and special features for the new device as it released flat first-quarter earnings that nevertheless beat expectationsSource: Financial Times - US homepage | 9 Feb 2010 | 5:31 pm Billionaire battleLegal wrangle hits America's Cup revenuesSource: BBC News | Business | World Edition | 9 Feb 2010 | 5:29 pm Hector Sants's FSA departure leaves big shoes to fillOstensibly, it's just a job move. But in unexpectedly quitting the Financial Services Authority (FSA), Hector Sants, the son of two psychologists, has set a brain-teaser for both the City and Westminster.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 5:28 pm Ferrous fightTense times as China resumes iron ore price talksSource: BBC News | Business | World Edition | 9 Feb 2010 | 5:18 pm Hector Sants makes elegant exit but pressure mounts on Tories to fill the gapIf you have been chief executive of the Financial Services Authority (FSA), the UK's primary financial regulator, why would you want to become second fiddle in the event of a merger with the Bank of England?Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 5:04 pm Why you should board Anthony Bolton's boat to ChinaPrivate investors will be salivating at the launch of Anthony Bolton's new investment trust, Fidelity China Special Situations.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 5:01 pm Greek tragedyThe global financial crisis has complex consequences but a simple explanation: too many people borrowed too much money. That problem has never gone away. Stock markets and the euro have fallen sharply in the past month. The reason is a debt crisis in Southern Europe. Investors fear that Greece might default on its borrowings. They worry too about wide budget deficits in Spain and Portugal. Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 pm Bond’s carmaker plans sales drive in IndiaAston Martin is poised to set up shop in India for the first time as it strives to profit from Asia’s growing appetite for supercars. Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 pm Welsh Water to cull 300 jobs to cut running costsWelsh Water, the “not-for-profit” company that provides water and waste water services for three million people, has infuriated unions with a plan to cull 300 jobs. Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 pm Trade deficit leap sparks fear over credit ratingBritain’s trade deficit soared unexpectedly in December, official figures showed yesterday, as new fears emerged about the country’s credit rating. Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 pm BA approaches former staff to cover strikeBritish Airways has approached the staff it released last year to entice them back on temporary contracts as strike cover if cabin crew vote for industrial action. Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 pm Graduate watchA crude awakening Source: Latest Business News from Times Online | 9 Feb 2010 | 5:01 pm Parents face childcare fees riseThe Daycare Trust urges politicians to make a greater investment in childcare, as a survey suggests childcare costs continue to rise.Source: BBC News | Business | World Edition | 9 Feb 2010 | 5:00 pm Kraft deserves public anger for its decision to close a Cadbury factoryKraft's Irene Rosenfeld richly deserves public humiliation for her about-turn on manufacturing jobs.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 5:00 pm Honda recalls 379,000 cars for airbag hazardHonda announced it is expanding a previously announced recall to replace an airbag inflator in an additional 379,000 U.S. vehicles.Source: Business and financial news - CNNMoney.com | 9 Feb 2010 | 4:56 pm Questor share tip: Avanti and InmarsatToday, the UK space industry has published its 20-year plan. The industry is probably more successful than you first thought.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 4:52 pm Honda Takes A Turn With The Firing Squad, Recalls 378,000 CarsJapan has two large car companies known throughout the world for quality, workmanship, value, and fuel efficiency. Each took several decades to establish its brand in the US. Each burnished its brand by the launch of hybrids which brought in a new generation of eco-conscious car buyers. Toyota (TM), the larger of the pair, has ruined it reputation, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 4:48 pm FSA chief quits: the candidates to replace Hector SantsNo candidates will be put forward to succeed Hector Sants before the general election, leaving the Financial Services Authority facing a leadership vacuum for months.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 4:40 pm Tories' Michael Spencer quizzed by regulator on IPGL strengthThe Conservative Party treasurer and founder of ICAP, is in talks with the regulator about injecting new capital into his private investment vehicle.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 4:30 pm Travelport forced to rejig bonus scheme ahead of floatTravelport, the owner of the Galileo hotel and airline booking business, has been forced to restructure a lucrative management bonus scheme.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 4:25 pm Fidelity's Bolton sets sights on £630m China fundFidelity is hoping to raise an unprecedented £630m for Anthony Bolton's China Special Situations investment trust.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Feb 2010 | 4:20 pm Inside Toyota's epic breakdownTOYOTA CITY, Japan/DETROIT (Reuters) - Toyota Motor Corp, the world's most dominant and profitable automaker, was not accustomed to outsiders telling it what to do, let alone some obscure bureaucrat from the United States, whose own car industry was on taxpayer-funded life support.Source: Reuters: Business News | 9 Feb 2010 | 4:18 pm US airline to charge $8 for blanketsIf you want a pillow and blanket in economy class on American Airlines, it's going to cost you.The airline will charge US$8 ($11.51) for a pillow and blanket in economy ("coach") class for domestic trips and some international...Source: nzherald.co.nz - Business | 9 Feb 2010 | 4:15 pm NZ sharemarket follows US gainsThe New Zealand sharemarket opened positively this morning, taking heed of good news from the United States and ignoring Japanese and Australian market softness.The benchmark NZX-50 index opened at 3076.451 and rose 20.9 points,...Source: nzherald.co.nz - Business | 9 Feb 2010 | 4:13 pm Options, Restaurants, YRC Worldwide, Dendreon: Taking StockSource: Bloomberg - All Podcasts | 9 Feb 2010 | 4:11 pm 3M Dividend Hike To Pressure GE Dividend Hike (MMM, GE)While we were getting ready to post our next round of large companies which we think will be hiking their dividends in 2010, one of the companies beat us to the punch. Earlier this week we noted that General Electric Co. (NYSE: GE) is likely to revisit its dividend with a hike perhaps in the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 4:10 pm Stocks jump on hopes for Greece debt rescue (AP)
Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 4:09 pm European governments agree to help Greece: sourceBERLIN (Reuters) - European governments have agreed in principle to help heavily indebted Greece, a senior German coalition source said on Tuesday, in what would be the first rescue of a euro zone member in the currency's 11-year history.Source: Reuters: Business News | 9 Feb 2010 | 4:07 pm Berlin looks to build Greek ‘firewall’German officials admit they are looking at how to construct a ‘firewall’ to prevent the Greek debt crisis from spiralling out of controlSource: Financial Times - US homepage | 9 Feb 2010 | 3:58 pm How the major stock indexes fared on Tuesday (AP)AP - The Dow Jones industrial average jumped back above 10,000 on hope that a resolution was near for Greece's debt crisis. The Dow jumped a day after closing below 10,000 for the first time in three months. The major indexes all gained more than 1 percent. Treasury prices slid as demand for safer investments fell. Global markets bounced back on reports that plans are being developed in the European Union to rescue Greece.Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 3:57 pm Jerry Muller: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 9 Feb 2010 | 3:54 pm Wall St rises on reports of help for Greece (Reuters)
Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 3:52 pm 15 Valentine’s Day Gifts for Men–For Less Than $50If your Valentine’s Day involves romancing someone of the male persuasion, finding a gift can be perplexing. We tried to make the task easier by listing 15 Valentine’s Day gifts for men. All of them cost less than $50. Although we didn’t include a diamond-encrusted Rolex, for obvious reasons, the gifts below should suit most guys’ desires. Signage for his Man Cave
If your man’s garage is his second home, help him decorate it with a vintage garage sign. Most won’t set you back more than $20. A Flash Drive that Fits
Flash drives are the new mixtapes. As in, they’re customizable, slick, and very giftable. A perfect addition to your techie man’s hardware set. A Gamer Gem
For around $30 or less, you can pass along the gift of the game. The hot new game he doesn’t have yet, that is. Gadget Protection
If he lacks a good iPhone case, laptop bag, sunglasses case, or other mode of stuff protection, consider finding him something he’ll like. Leather is good; so are customizable cases like the ones found at Guyville. A Universal Command Center
If you think your guy will like an all-in-one remote control, you might want to package it nicely to make it look more romantic. The good thing is that he’ll appreciate and use a good remote, and you can find one for under $30. Head Decor
Show your team spirit by handing your guy a new baseball cap emblazoned with his favorite name (besides yours, of course). If team sports aren’t his thing, he might appreciate a beanie, vintage trucker cap, or new helmet. Drinking Accessories
If your man is of the drink-mixing persuasion, he’ll appreciate a good cocktail set. If he’s more of a beer guy, swap in a couple of nice mugs; if he’s into wine, a pump and stopper set might be the ticket. A Money Holder
If black leather isn’t his thing, try something novel, like the Ducti duct tape wallet featured above. Duds
Vintage T-shirts cover the gamut of genres and messages. You can go band, general old-school, funny, or athletic like the Fan’s Edge tee above. Functional Art
Buy him something that he can use and enjoy everyday. It could be a carved metal toolholders like the ones Speedcult sells. Or it could be a functional, attractive razor holder like this one from Manufactum. Artisans and high-end stores sell items like these everyday; keep an eye out. Man Books
If you’re not sure what kind of book to get him, check out Esquire Magazine’s list of 75 books every man should read. A DVD Box Set
Help him savor his favorite flicks with a multi-pack. Many Blu-Ray trilogies run just under $50, or you can grab a DVD trilogy for less. The Sound of Silence
High-end noise-canceling headphones cost more than $50, but you can find reasonable ones for less. The headphones featured above currently cost $45 on Amazon. Beer of the Month Club
Image: Burnblue/Flickr Few men can argue with fresh brewski delivered to their doorstep. If you’re low on funds, you can order a delivery every other month, or every third month, and pay on a monthly basis. A Portable Grill
Nothing says I love you like a portable grill, right? Well…maybe. But he will think of you every time he fires up his new meat-cooking companion. Consider it a constant reminder that you care.
Source: Business Pundit | 9 Feb 2010 | 3:52 pm Presented By:Source: Dealbreaker | 9 Feb 2010 | 3:42 pm JPM: Don't Worry About The Snow, You Can Spend The NightJPMorgan just sent out a memo to employees notifying them that in the event the snowpocalypse is really bad, they can reserve cots to stay over. And if they run out, Jamie Dimon will be happy to take people into his home, located not far from headquarters. TAKE ADVANTAGE OF THE OFFER. 
 Source: Dealbreaker | 9 Feb 2010 | 3:42 pm Airgas Wants More From Air Products (ARG, APD)After the Airgas, Inc. (NYSE: ARG) unsolicited offer from Air Products & Chemicals, Inc. (NYSE: APD) was made, we noticed how there was a premium to the deal’s public price. We even noted that Jefferies had given a potential scenario of $68.00. Now we know why rather than just suspect why. Airgas’ Board of Directors [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 3:41 pm Write-Offs: 02.09.10$$$ TheStreet.com Assertion: "There have been many accounts of the shady dealings that Goldman Sachs had with AIG. But one key point has been soft-pedaled, and another has been ignored altogether. The first is that Goldman used AIG as a financial toilet." The Facts: [waiting for Lucas vP to weigh in] [TSC] $$$ NYU sued for revoked MBA [NYP] $$$ "When people have more than one house, you can live in them all," says Ms. Clearly. [WSJ] $$$ Inside Toyota's epic breakdown [Reuters] $$$ Galleon Defendants Ordered to Turn Over Wiretaps [Dealbook]
Source: Dealbreaker | 9 Feb 2010 | 3:29 pm Larry Summers: Erin, This Sounds Like It's An Exercise In Sadism And Who Can Cause The Most Pain
Source: Dealbreaker | 9 Feb 2010 | 3:13 pm NYSE Euronext returns to profit in 4th quarter (AP)AP - Trans-Atlantic stock exchange operator NYSE Euronext said Tuesday that it returned to profit in the fourth quarter as cost-cutting efforts helped offset a drop in revenue amid falling global share trading volumes.Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 2:55 pm Morgan Stanley Takes Hardline Stance On Snow
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Source: Dealbreaker | 9 Feb 2010 | 2:52 pm The Cautious Euphoria in Baidu Earnings (BIDU)We had said in our detailed preview that this was a make or break quarter for Baidu Inc. (NASDAQ: BIDU). So far it looks like the investment community is taking it as a ‘make it’ quarter. The leader of online search in China posted earnings of $1.80 non-GAAP EPS and $184.7 million in revenue versus [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 2:49 pm Google’s Buzz to take on FacebookGoogle has mounted its most ambitious assault on the booming social networking business in an attempt to win back ground lost to fast-growing FacebookSource: Financial Times - US homepage | 9 Feb 2010 | 2:44 pm Podcast: Our Messy, Inefficient Economy
Efficiency experts try to make factories like this run more smoothly. (Andreas Rentz/Getty Images) On today's Planet Money: We look at the world through the eyes of Matt LeBlanc, an efficiency expert (or lean expert), who runs around with a stopwatch and equations, trying to figure out how to eliminate waste in our economy. He finds it everywhere. LeBlanc says sometimes people love him and thank him. And sometimes not. After the jump, watch the celebrities of the efficiency world, the two Bobs from Office Space. Download the podcast; or subscribe. Music: Regina Spektor's "The Calculation." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 9 Feb 2010 | 2:00 pm Orrick Herrington's Levinson on Municipal Bankruptcies: BLAWSource: Bloomberg - All Podcasts | 9 Feb 2010 | 1:57 pm Obama calls on parties to work togetherPresident Obama made a new appeal for bipartisan efforts on tackling ‘the pressing challenges’ facing the US, especially job creation and deficit reduction, and attempted to neutralise criticism from both Republicans and the press with a new opennessSource: Financial Times - US homepage | 9 Feb 2010 | 1:46 pm Brother Can You Spare A Dime: Open Jobs PlummetUnemployment may have dropped below 10% last month, but the number only looks good in a vacuum. The Bureau of Labor Statistics, the bearer of much of the federal government’s bad news over the last two years, said that the number of jobs open in America dropped to 2.5 million in December. That was a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 1:27 pm BofA and Citi warned over credit ratingsThe planned overhaul of US financial rules prompted Standard & Poor’s to warn it might downgrade the credit ratings of Citigroup and Bank of America on concerns that the shake-up would make it less likely that the banks would be bailed out by US taxpayers if they ran into trouble againSource: Financial Times - US homepage | 9 Feb 2010 | 1:26 pm China Agritech Raising Cash (CAGC)CHINA AGRITECH, INC. (NASDAQ: CAGC) was having a great day with gains north of 7%. But at about 3:09 PM EST we saw a filing from the company.. the S-3… the ’selling securities filing’ that often hits stocks if they have made large runs or developed a larger following. The filing is to raise up [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Feb 2010 | 1:26 pm Wabco Raised to `Overweight' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 9 Feb 2010 | 1:15 pm Blackrock's Deborah Fur Likes Retail ETFs: AudioSource: Bloomberg - All Podcasts | 9 Feb 2010 | 1:12 pm George Bush: Hank Paulson's Surrogate MotherThose of you who watched the Buffett/Paulson chat know that, sadly there's been no talk of birds. But we did learn a thing or two. 1) Things are still bad, but on the upside, it could be worse, which is why Hank feels "fortunate." 2) Bush "was like a mom" to Paulson, urging him to "exercise, get more sleep, eat healthy." 3) That Nancy Pelosi kneeling thing was just him asking her to "please don't go and blow this thing off," because everyone was in "deep doo-doo." 4) Comp was "out of whack even during benign times" but now people should be "showing some restraint." "If you've had some losses, you have responsibilities." 5) Congress should start doing its job, putting on some pressure and stop calling in snow days.
Source: Dealbreaker | 9 Feb 2010 | 12:45 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Tuesday:Source: Yahoo! News: Stock Markets News | 9 Feb 2010 | 12:21 pm Russia says west's fears over Iran are 'valid'Russia expressed greater concern over Iran’s nuclear programme, with one of the closest allies to Vladimir Putin, prime minister, describing western anxiety over Tehran’s plans as “valid”Source: Financial Times - US homepage | 9 Feb 2010 | 12:20 pm Rice Student Thinks Jefferies Is "More Courteous" Than Its Counterparts And Has "The Best Corporate Culture In Town"And she's sorry she missed her interview with the rainmakers and hopes they'll be able to find it in their hearts to forgive her. Because they're not like those other banks. They're different. From: [redacted at Rice]
Presented By:
Source: Dealbreaker | 9 Feb 2010 | 12:19 pm UBS's Magnus: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Feb 2010 | 12:07 pm Bankim Chadha: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Feb 2010 | 12:06 pm Bernanke to set out Fed exit strategyA vision for how the US Federal Reserve will begin unwinding its support for the financial system is expected to be laid out by chairman Ben Bernanke in written testimony on WednesdaySource: Financial Times - US homepage | 9 Feb 2010 | 11:44 am Two Fetishists, Havin' A Chat: What Should Warren Buffett Pick Hank Paulson's Mind About?
Update: Paulson: "[George] Bush was like a mother to me." So there's that. Watch Live: Buffett And Paulson [Omaha World Herald] Related: Collapse Of Bear Stearns Took Away From Hank Paulson's Bird Time
Source: Dealbreaker | 9 Feb 2010 | 11:40 am Obama’s Tax Breaks and OutsourcingThis is a guest post by Jacob Cherian of SourcingLine. In a recent statement, President Barack Obama implied that he would cut tax breaks to companies offshoring jobs overseas. It appears the move is to arrest the outflow of jobs from the U.S. But analysts are not sure if this new regulation will have the desired impact. If the U.S. does not allow for offshoring costs to be accounted as expenses in balance sheets, U.S. firms will likely see their offshoring costs go up by about 35-40 percent. That sounds like a steep rise, but in actuality it is not. For instance, the cost of hiring an engineer is about $50-$60/hour in the U.S. for IT related projects. The same job would cost $25-$30/hour in India or China under the present circumstances and $35-40/hour under the new legislation. This would mean that it is still cheaper to offshore projects to low cost destinations like India and China. Vice-President of Nasscom, Ameet Nivsarker, commented in an online report by The Hindu that the proposal is really about going after U.S. firms that have established their units in lower tax areas in order to book profits. Yet another interpretation to the outsourcing story is that it would offer U.S. firms an alibi to maintain price pressures on offshoring, This would have an impact on the American-centric players like outsourcing giants Infosys, Wipro and Tata Consultancy Services of India. Alternatively, it would drive major outsourcers in India to seek more lucrative contracts in Europe and elsewhere. The IT industry’s trade body in India, Nasscom, says that 5.8 percent of the country’s GDP stems from IT. This is in comparison to a mere 1.2 percent in the financial year 1997-98. IT industry leaders in the United States are also lobbying against U.S. protectionism. India, considered the back office to the world, has much to ponder.
Source: Business Pundit | 9 Feb 2010 | 11:00 am Coffee Break: Debt, Banks, Recalls and McDonald's...By Alex Hotz and Ethan Arrow What we read over lunch.... Returning to work after a snowed-in weekend, Washington faces its next approaching storm... the budget deficit. Are we entitled to live in debt forever? The Economist says something's got to give: In the medium term there are only two ways to bring the deficit back to a sustainable level--which means no more than 3% of GDP. [Ed: It was 9.9% in 2009] Either taxes will have to rise, or a serious attempt must be made to rein in the entitlements--legally mandated programmes such as Medicare, Medicaid and Social Security--that constitute the great bulk of spending.... ...Mr Obama is proposing only a bit of the first, and none of the second. Taxes on the rich (those earning $250,000 a year or more) will go up from next January, as the Bush tax cuts expire; but Mr Obama had promised middle America that it will pay "not one single dime" more in tax, and so he is extending George Bush's budget-busting tax cuts for the remaining 98% of Americans. After huge losses during the financial crisis, the Swiss banking giant UBS is returning to some semblance of profitability. But it only survived with government help. And many customers are still pulling billions of francs out of its wealth management unit. "UBS made a net profit of 1.21 billion francs, or $1.3 billion, during the fourth quarter, helped by lower costs and a tax credit... UBS benefited from a 480 million francs tax credit in the fourth quarter mainly attributable to the revaluation of deferred tax assets, principally in the United States, it said... But the outlook remains cloudy. Aside from volatile markets it, like other global banks, faces regulatory uncertainties as governments debate measures to prevent another financial crisis." So where's all that money heading? To its US competitors. If you're a Toyota owner or shareholder, the snow is the least of your problems. Today we heard that resale values for Toyota vehicles plummeted again. A new investigation (this time into the power steering on the popular Corolla Model) may soon be underway and many pundits are calling for the company's president to resign. BusinessWeek's William Pesek was particularly biting in his remarks: "A name once synonymous with quality has fallen so far that Americans are actually rushing out to buy Detroit's clunkers. You have to love a corporate scandal that boosts General Motors Co. and Ford Motor Co. and gins up consumer advocate Ralph Nader in one fell swoop. Toyota President Akio Toyoda has done just that and it's time for him to resign. He must go not because of the company's biggest-ever and growing recall, but to take responsibility for how pathetically he is handling the crisis. Thanks to unsteady leadership, Toyota's market value has lost the equivalent of Latvia's annual gross domestic product since Jan. 21." The Italian government and fast food giant McDonald's recently teamed up to bring Italians a burger dubbed the "McItaly." Although the pair claim that the red, white and green creation (Italian beef, Asiago cheese and artichoke spread) is a much-needed boost for the nation's farmers, the collaboration has incensed our Apennine cousins and foodies alike. The Guardian's Matthew Fort led the charge for the English speaking world: "For many Italians, their very sense of identity lies in the food, not just of the region in which they were born, but of the town, village, hamlet, even house. And they hold to the superiority of their local produce and dishes with passion. That is why eating your way round Italy is such a continual delight. Pleasure lies in diversity, not homogeneity. Who wants to eat the same stuff the whole world over? It's boring. It's the kind of global mind-numbing sameness and taste bud-mugging mediocrity that McDonald's embodies. No-one in their right mind can see McDonald's as either a force for good in the world or as representing the sunny uplands of gastronomy." For better or worse Italians gobbled up 100,000 units of that global, mind-numbing sameness during the first week of the McItaly launch. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 9 Feb 2010 | 10:57 am What else can airlines charge us for?American Airlines has announced that economy-class passengers on its domestic flights will have to pay $8 for a blanket and pillow. Our Marketplace Players wonder what's next.Source: Marketplace | 9 Feb 2010 | 10:47 am New Orleans Saints: America's TeamThe Saints' Super Bowl win was a big boost for a football team whose fans used to call them the "Aints." Commentator Jon Wertheim says it was also a boost for the city.Source: Marketplace | 9 Feb 2010 | 10:47 am Debating insurers' antitrust exemptionInsurance companies are exempt from antitrust laws. But Congress has been trying to change that for years, without success. Nancy Marshall Genzer reports.Source: Marketplace | 9 Feb 2010 | 10:47 am Bolivians find biz opportunities in ChinaChina's presence in Latin American countries like Bolivia is growing. The Andean nation is importing more goods directly from China, but they're doing it in a distinctly Bolivian fashion.Source: Marketplace | 9 Feb 2010 | 10:47 am The 12 Most Valuable Teams in NCAA FootballFootball has long been America’s most popular sport. While baseball is the American pastime and holds a special place in the hearts of sports fans, it has yet to surpass football in terms of either broad appeal or revenues. Nor is the National Football League the only beneficiary of football’s enduring popularity. Indeed, in parts of the country with unsuccessful NFL teams (or no NFL teams), college football is just as popular – and just as lucrative. Likewise, an accomplished head coach at a prestigious college program can easily command several million dollars per year in salary, and the football teams themselves figure prominently in the entire cost structure of their universities. Today, Business Pundit examines the 12 most valuable NCAA football teams.
Texas Longhorns
Not only are the Texas Longhorns the most valuable college football team, they are also the most valuable NCAA team in any college sport. According to CBS Sports, the Longhorns are valued at approximately $119 million, and turned a $59 million profit last year. Perhaps appropriately, the University of Texas made its head coach – Mack Brown – the highest paid football coach of any college program, committing $5.1 million for next season on December 10, 2009 according to USA Today.. In doing so, Brown became the first NCAA football coach to cross the $5 million per year barrier. However, the salary is being paid from athletics department revenue, which “receives no government or institutional support and has transferred more than $6.6 million to the university since the 2005-06 fiscal year.” University of Texas is also “among 25 of 120 major-college programs that made more on athletics than they spent in 2007-08.” Notre Dame Fighting Irish
The team the Longhorns surpassed as the most valuable college football team is this year’s number two – Notre Dame’s Fighting Irish. Valued at $108 million and boasting profits of $38 million (according to Forbes) the Fighting Irish have long been one of the most widely followed teams in NCAA football. Seven Heisman Trophy winners have played for Notre Dame, as well as 95 consensus All-Americans. Furthermore, Notre Dame Stadium (where the team plays its home games) seats more people than some NFL stadiums do – 80,795 at last count. The team has also won eight national championships, and owes much of its current value to consistently being a contender year in and year out. Pennsylvania State Nittany Lions
Another highly valued NCAA football team with a rich history is Penn State’s Nittany Lions, said by ESPN to be the most valuable team in the NCAA’s Big Ten conference. ESPN reports that Penn State’s “team value is $99 million, and the program makes a profit of $50 million.” Its ranking as the third most valuable NCAA football team is a ten spot leap for Penn State from the last time rankings were compiled. Coached by the legendary Joe Paterno (who earns roughly $1.5 million per season), Penn State figures to continue its run as one of the most prosperous college football teams in the country for quite some time. Nebraska Cornhuskers
At first glance, it probably seems strange to see a Nebraska team rank so high on this list. A state which sells t-shirts that proudly exclaim “Nebraska – We Got Nothin” doesn’t exactly smack of athletic excellence or acclaim. However, the Cornhuskers are actually the fourth most valuable college football team in America, turning a $49 million profit on a $93 million total value. Loyalty is also alive and well at the school. According to Forbes, “donations required by Nebraska for season ticket holders to keep their seats totaled $15 million last season.” Head coach Bo Pelini is the 25th highest paid coach in college football, earning just a shade over $1.8 million per season. Alabama Crimson Tide
The popularity of the Alabama Crimson Tide is hard to exaggerate. According to Forbes, the team’s “waiting list to obtain season tickets for the Crimson Tide is currently 15,210 names long.” Furthermore, simply being next up on the list is no guarantee of getting tickets. The only thing coming up on the list entitles you to do is “make a donation to the athletic department ranging from $5,000 to $500,000″ depending on the location of seats you wish to buy tickets for. Crimson Tide head coach Nick Saban is the fourth highest paid coach in college football, raking in about $3.9 million per season. Florida Gators
The Florida Gators are the sixth most valuable college football team as judged by Forbes’ rankings. Valued at $88 million, the Gators turned a $41 million profit season while fans of the team “shelled out a total of $145,000″ for the right to inscribe their names on the brick pathway leading up to the team’s 88,548 seat Ben Hill Griffin Stadium. If you’re wondering what could possible inspire such passionate devotion in a team’s fans, it is nothing more than an undisputed legacy of winning. The Gators have won three national championships, eight Southeastern Conference Championships, produced 138 All-Americans, thirty-eight first round NFL draft picks and three Heisman Trophy winners, en route to being one of the winningest college teams since 1990. Head coach Urban Meyer is the third highest paid coach in the NCAA at $4 million per season. Louisiana State Tigers
Valued at $68 million, Louisiana State’s Tigers are a tremendous economic asset to the surrounding community. Besides turning a $39 million overall yearly profit, it is estimated that $8.2 million in direct spending is generated by visitors to East Baton Rouge Parish by each game the Tigers play at the 92,400 seat Tiger Stadium. With three national titles and thirteen SEC conference titles, the Tigers have an enduring track record of success, which explains the massive influx of visitors to each home game. It’s fair to call the Tigers an economic juggernaut, and it looks to remain that way for the forseeable future. Ohio State Buckeyes
The second most valuable Big Ten football team in the country (and eighth overall) is the Ohio State Buckeyes, valued at $85 million by Forbes. It’s a two spot rise for Ohio State, who occupied the 10th spot last time rankings were compiled. It’s also worth noting that Ohio State is the only school to have its teams in the top 10 of Forbes’ football and basketball rankings (its basketball team is the 10th most valuable in the NCAA.) Interestingly, however, the immense financial and athletic success of the school has not translated to an astronomical coach’s salary. Buckeyes coach Jim Tressel is paid at a level one might expect given the school’s sparking track record, with Cleveland.com reporting that the coach signed a $3MM per year extension in 2008. Georgia Bulldogs
Valued at $84 million (with profits of $45 million) the Georgia Bulldogs can lay claim to the third-highest merchandise sales of any college last year, after only Texas and Florida. Head coach Mark Richt is the 10th highest paid coach in college football at an annual salary of $2.9 million. The school routinely sells out home games at its 92,746 seat Sanford Stadium, has won 2 national titles, 12 SEC conference titles, and has produced two Heisman Trophy winners, as well as 28 consensus All-Americans. Oklahoma Sooners
One of the greatest measures of a team’s popularity is how much of the athletic department’s donations are generated by the team itself. It would be tough to imagine beating the Oklahoma Sooners in that department, especially after 92% of the $19 million raised in donations last year was generated by the team. Such a tremendous amount of fan loyalty goes a long way toward explaining the $83 million value attached to the Sooners, as well as the $40 million in profit last year. Head coach Bob Stoops is the highest paid coach in the Big 12 conference and the fifth highest overall, earning a yearly salary of $3.8 million to spearhead the Sooners on-field strategy. University of Michigan Wolverines
The third most valuable Big 10 team (according to ESPN) is the University of Michigan Wolverines. It was somewhat of a down year for Michigan however, which slipped to number 11 from number 4 last year. Nevertheless, the Wolverines are valued at $81 million, turned a $34 million profit, and is preparing to embark upon a “400,00 square-foot expansion project that will add 83 suites and 3,200 club seats to Michigan Stadium” that is expected to be completed in time for the start of next year’s season. Head coach Rich Rodriguez earns $2.9 million per year, placing him in a three-way tie for the 9th highest paid NCAA football coach in the country. South Carolina Gamecocks
Last but not least, the South Carolina Gamecocks round out our list of the 12 most valuable NCAA college football teams. Valued at $80 million, the Gamecocks are coached by the accomplished Steve Spurrier, who coached the Florida Gators to six SEC championships and himself won the Heisman Trophy in 1966. Spurrier, who earns $1.8 million per season, has the luxury of presiding over a Gamecocks team that will almost certainly rise in value next yearas a result of $6.8 million raised by “a points system that ties donations to football seating assignments”, Forbes reports. For a team that already turns in a yearly profit of $37 million, the future looks bright for South Carolina, which was also the 12th most valuable college football team in last year’s rankings.
Source: Business Pundit | 9 Feb 2010 | 10:46 am How Toyota's woes spun out of controlJeremy Anwyl, CEO of auto information site Edmunds.com, talks with Kai Ryssdal about why Toyota's problems have grown so much and the impact they might have on other car makers.Source: Marketplace | 9 Feb 2010 | 10:42 am The problem with marketing health foodFirst Lady Michelle Obama will lead a new campaign to fight childhood obesity. Nutrition advocates say part of this fight is making healthy food more appealing. Sarah Gardner reports.Source: Marketplace | 9 Feb 2010 | 10:42 am Premiums may rise without reformCalifornia's largest for-profit health insurer, Anthem Blue Cross, has told individual policy holders their premiums may jump up as much as 39%. John Dimsdale reports that Anthem's rate increase has become part of the health care debate in Washington.Source: Marketplace | 9 Feb 2010 | 10:42 am Eurozone's ills spread to neighborsInvestors pushed the euro up from recent lows, but for many other currencies some of the damage may have already been done. Alisa Roth reports.Source: Marketplace | 9 Feb 2010 | 10:42 am Citi Not Sweating Downgrade
S&P's rationale is that if Financial Armageddon 2.0 were to come, they're not too sure about "the U.S. government's willingness to provide additional extraordinary support to highly systemically important financial institutions."
Source: Dealbreaker | 9 Feb 2010 | 10:41 am Connecticut’s Blumenthal: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Feb 2010 | 9:25 am IHS Global’s Wolkonowicz: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Feb 2010 | 9:24 am MF Global’s O’Sullivan: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Feb 2010 | 9:23 am Pot Economics: $1,200 For An Ounce
Yes the government collects data on the price of pot. Click to see more. (Office of National Drug Control Policy) By David Kestenbaum After our "An Economist Gets Stoned" podcast the other week, I've been digging deeper into the literature on the economics of marijuana. It's an unusual commodity; legal (for medical purposes) in some states, but still illegal as far as federal law goes. One strange thing is that prices can vary pretty dramatically. According to this 2004 report (by the Office of National Drug Control Policy, Executive Office of the President) a dime bag in Phoenix went for $20 (that works out to around $70 an ounce) but in San Diego the price was $450 an ounce. This National Bureau of Economic Research paper has this to say: Only two studies empirically examine the role of specific factors on the prices paid for marijuana. In an early study, [Jonathan] Caulkins (1995) examines data from nine states reported in the Middle Atlantic-Great Lakes Organized Crime Law Enforcement Network (MAGLOCLEN) and tests two conjectures about how prices vary from location to location within the United States. The first conjecture is that prices increase as one moves away from the source, which in the case of marijuana is largely domestic. The second conjecture is that prices are lower in larger markets, as proxied by population. He examines these hypotheses by evaluating prices for cocaine, LSD, and marijuana. In the case of marijuana, Caulkins only finds support for the firsthypothesis. The mean price per bulk gram paid for marijuana got statistically higher as the cities got more distant from the mid-west /Appalachian growing region. These results, however, are based on a very limited number of price observations (fewer than 60 in total) that were not representative of all transactions within these states. Thus, although they are suggestive that transportation costs might explain some of the geographic variation in marijuana prices, the evidence cannot be viewed as definitive. Obviously price will vary with quality. (That government report says hydroponically grown weed can sell for $1,200 an ounce in NYC.) I was just reading online reviews of some San Francisco dispensaries for instance: "OH! And the concentrate they call "Buddha's Earwax" is [expletive deleted] insane.... try some if you can afford the high price." » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 9 Feb 2010 | 8:00 am Toyota Reluctantly Recalls Prius Hybrids
In light of increased government scrutiny of its cars, Toyota has announced a worldwide recall of its Prius hybrids. The Wall Street Journal reports: Toyota’s quality chief Shinichi Sasaki said at a press conference (in Japan) that the problematic brake systems in the recalled cars “meet safety standards,” a comment implying the company isn’t required legally to recall the vehicles. But Toyota decided to take action and update software that controls the brake system in order to “be in accordance with the spirit” of those standards, Mr. Sasaki said. Many at Toyota—from top executives to engineers to sales managers—believe the company is now being forced into the corrective action on its popular hybrids because of heightened government and public scrutiny of Toyota’s recent quality problems at home and in the U.S. These executives say the Prius problems are much smaller than, and unrelated to, the sudden acceleration complaints that have triggered the firestorm of criticism against the company in recent days. Before the latest controversy, many Toyota engineers feel, the issue could have been dealt with by a much quieter consumer action, where dealers would correct it only when customers came to dealers to raise issues. Toyota officials acknowledge that the company may have made mistakes in how to handle customer complaints in recent months and may have angered regulators, but at this point “this is 60% political,” one U.S.-based top Japanese Toyota executive said. On Tuesday, Toyota said it will recall a total of 437,000 hybrid cars world-wide, including the Prius, to fix the brake system problems as the Japanese auto maker tried to tackle the latest in a series of recall headaches that have dented its reputation for reliability. The cars affected, in addition to the Prius, include the Prius Plug-In Hybrid, the Toyota Sai and the Lexus HS250h. In the U.S., Toyota is recalling about 133,000 2010 Prius cars and 14,500 2010 HS250h cars. In Japan, Toyota will recall 223,000 hybrid vehicles, while the number should total 52,900 vehicles in Europe. Being defensive isn’t going to help Toyota now–it’s too late. They need to start being proactive, by getting a killer PR firm, for example. Especially if brakes aren’t the only Prius problem.
Source: Business Pundit | 9 Feb 2010 | 7:39 am An Unfortunate Toyota Tagline
Source: Business Pundit | 9 Feb 2010 | 4:10 am
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