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Wal-Mart And P&G To Make “Family Friendly” TVWal-Mart (NYSE:WMT) and P&G (NYSE:PG) are fed up with the violence and sexual content which make up much of the content of current television programs. The Wall Street Journal reports that they have joined forces to create a two-hour TV special that will run on NBC in April. The title of the program is “Secrets of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 3:33 am EU searches for solution to Greek crisis (AP)AP - Germany and France dangled a limited promise of "political support" — but no financial aid — for debt-burdened Greece at a meeting of European Union leaders Thursday, trying to defuse market fears about the about the future of the euro and Europe's economic unity.Source: Yahoo! News: Business News | 11 Feb 2010 | 3:32 am Home repossessions hit 14-year highThe number of people who had their homes repossessed last year reached the highest level since 1996 but the total is below forecasts as lenders said predictions for the current year could be “a little pessimistic”. Source: Latest Business News from Times Online | 11 Feb 2010 | 3:23 am Loss-making Air France-KLM skids on outlookShares of Air France-KLM fall as much as 10% as the airline on Thursday reports a narrowed fiscal third-quarter loss but says conditions are worse in the current period.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 3:22 am Repossessions reach 14-year highThe number of people who had their homes repossessed reached a 14-year high during 2009, figures show.Source: BBC News | Business | World Edition | 11 Feb 2010 | 3:20 am Facebook pulls 30 UK inmates' pages after taunts (AP)AP - (Stations: Resending to add justice minister's first name.)Source: Yahoo! News: Business News | 11 Feb 2010 | 3:18 am Three Thousand Banks Face Commercial Real Estate RiskA new report from the Congressional Oversight Panel which tracks the progress of the TARP program projects that commercial real estate losses threaten nearly 3,000 mid-sized and small banks and may severely compromise their ability to make loans. At the core of the report is the observation that “Between 2010 and 2014, about $1.4 trillion in commercial [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 3:17 am BT to plug £9bn pension deficitBT agrees to pay off a £9bn deficit in its pension scheme, but the pensions regulator says it has "substantial concerns".Source: BBC News | Business | World Edition | 11 Feb 2010 | 3:16 am French oil company Total makes Q4 profit of $2.8B (AP)AP - Total SA made a net profit of euro2.07 billion ($2.8 billion) in the fourth quarter as increased production and higher prices for oil offset a steep drop in refining operations, the company said Thursday.Source: Yahoo! News: Business News | 11 Feb 2010 | 3:12 am Renault targets 2010 free cash flow after year loss (Reuters)Reuters - French carmaker Renault posted a wider-than-expected net loss and said on Thursday it would focus on generating positive free cash flow in a tough 2010 market.Source: Yahoo! News: Business News | 11 Feb 2010 | 3:11 am Renault targets 2010 free cash flow after year lossBOULOGNE-BILLANCOURT, France (Reuters) - French carmaker Renault posted a wider-than-expected net loss and said on Thursday it would focus on generating positive free cash flow in a tough 2010 market.Source: Reuters: Business News | 11 Feb 2010 | 3:11 am France's Renault swings to net loss in 2009French car maker Renault SA reports Thursday a net loss for 2009 and says it expects the European car market to contract by 10% this year, with economic conditions set to remain difficult.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 3:08 am Keeping oil low - and Iran in checkA desire to bring Iran to the bargaining table over its nuclear program could keep oil prices low worldwide for the next several months.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 3:07 am EU summit gets to grips with Greece rescue planBRUSSELS/VIENNA (Reuters) - European Union leaders will lay the foundations for a financial bailout of Greece at a summit in Brussels on Thursday, but any package will demand deep fiscal and economic adjustments by Athens in return.Source: Reuters: Business News | 11 Feb 2010 | 3:07 am Hopes for Greek lifeline ease nervesGlobal Markets Overview: Euro cements broad gains and Greek government bonds stabilise on hopes that a meeting of European leaders will deliver a show of solidarity with GreeceSource: Financial Times - US homepage | 11 Feb 2010 | 3:06 am Higher oil prices boost Total, Statoil resultsEnergy giants Total SA and Statoil ASA report strong fourth-quarter profit, as rising oil prices offset weak refining margins and lower natural-gas prices.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 3:03 am China, Australia data help Asia markets to riseAsian markets end higher with Hong Kong and Chinese stocks rising after data showed a moderation in the mainland’s consumer price inflation, while Australian shares received a boost from a solid jobs report.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 3:00 am Anglo backs De Beers $1 billion cash call$De Beers, the world's top diamond producer, has secured the backing of its shareholders, Anglo American, the Oppenheimer family and the Government of Botswana to refinance the struggling miner with a $1 billion rights issue.$ Source: Latest Business News from Times Online | 11 Feb 2010 | 2:57 am Apple iPad Costs Only $225 To BuildApple (AAPL) can build its low-end iPad for as little as $225 according to industry research operation iSuppli. The most expensive version of the tablet, the 64GB product with 3G, costs $346 to build. The numbers mean that Apple could drop the price of the iPad quickly if demand is low. It will make $483 per unit on the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 2:49 am Danone 2009 earnings boosted by baby food salesFrench yogurt and bottled water company Groupe Danone SA on Thursday reported 2009 earnings rose 3.7 percent from the previous year, boosted by strong growth in its baby food division and...Source: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:44 am Low prices hit Rio Tinto profitsAnglo-Australian mining company Rio Tinto says its pre-tax profits were down 14% in 2009, due to lower commodity prices.Source: BBC News | Business | World Edition | 11 Feb 2010 | 2:43 am The next crisis: Commercial real estateA congressional watchdog panel warned on Thursday that mounting commercial real estate losses could endanger the banking system and thwart economic recovery.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 2:36 am BT triples Q3 profit, plugs pension fund hole (AP)AP - Telecommunications company BT Group PLC on Thursday said profits tripled in the third quarter, but its shares slumped after regulators questioned its plans to close a massive hole in its pension fund.Source: Yahoo! News: Business News | 11 Feb 2010 | 2:35 am BT triples Q3 profit, plugs pension fund holeTelecommunications company BT Group PLC on Thursday said profits tripled in the third quarter, but its shares slumped after regulators questioned its plans to close a massive hole in its...Source: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:35 am Rio Tinto net up by a third as dividends returnFewer impairments on its aluminum business help the mining giant return to paying a dividend as net profit rises.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 2:35 am Spain discovers life on the wrong end of marketsSpain feels the heat amid an economic crisis driven by a collapse in the housing and construction market, which has pushed the unemployment rate to near 20%.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 2:35 am London Markets: Rolls-Royce, Smith & Nephew help FTSE 100 to riseEarnings news lifted Rolls-Royce and Smith & Nephew as the top British share index on Thursday continued to benefit from hopes the Greek debt situation may get resolved.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 2:32 am German Company Hoerbiger Commits 10 million EUR for Further Growth in Changzhou High-tech ZoneSource: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:32 am Foreclosures down in January, but surge on way? (AP)
Source: Yahoo! News: Business News | 11 Feb 2010 | 2:31 am Alcatel-Lucent trims outlook after profitShares of Alcatel-Lucent fell as much as 9% on Thursday after the telecom-equipment giant trimmed its outlook for 2010 and reported a slump in revenue as the group returned to profitability in the fourth quarter.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 2:28 am UPDATE 3-Alcatel-Lucent trims 2010 margin target, shares drop* Q4 net profit of 46 mln euros after 13 quarters of lossesSource: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:27 am Global oil demand seen rising in 2010 (AP)AP - World oil demand will rise this year due to growing economic activity in developing countries in Asia, the International Energy Agency said Thursday as it bumped up its forecasts.Source: Yahoo! News: Business News | 11 Feb 2010 | 2:26 am Global oil demand seen rising in 2010The Paris-based IEA, which advises oil-consuming countries, predicted in its monthly report that oil demand will average 86.5 million barrels a day this year, or 1.6 million barrels a daySource: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:26 am Profits dip at drinks firm DiageoDiageo, the world's biggest spirits maker, sees its profits dip but says it is "in the early stages of recovery".Source: BBC News | Business | World Edition | 11 Feb 2010 | 2:25 am Vietnam devalues its currency by 3.4%The currency move is the second time in less than three months the nation has adjusted the value of the dong.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 2:24 am Stocks, euro firmer ahead of EU Greek debateLONDON (Reuters) - World stocks hit a one-week high while the euro rose broadly on Thursday as investors looked to European Union leaders to lay the foundations for a financial rescue of Greece at a summit in Brussels.Source: Reuters: Business News | 11 Feb 2010 | 2:20 am Stocks, euro firmer ahead of EU Greek debate (Reuters)
Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 2:20 am Rio Tinto reinstates dividend, profits riseRio Tinto, the world's third-largest mining company, has reported a rise in full-year profits and said that it expects commodity prices to rally.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 2:17 am Credit Suisse swings to profit as inflows continueThe financial continues to attract new assets into its private banking unit, though the bottom line still falls short of market expectations.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 2:16 am PROMISES, PROMISES: Jobs bill short on making jobs (AP)
Source: Yahoo! News: Business News | 11 Feb 2010 | 2:15 am Euro up cautiously as EU weighs Greek debt crisisThe euro recovered some ground against the dollar on Thursday as European Union leaders sought a way to support Greece through its debt crisis. The euro bought $1.3761 in morning...Source: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:15 am Euro up cautiously as EU weighs Greek debt crisis (AP)AP - The euro recovered some ground against the dollar on Thursday as European Union leaders sought a way to support Greece through its debt crisis.Source: Yahoo! News: Business News | 11 Feb 2010 | 2:15 am Asia markets rise, await decision on Greece debt (AP)
Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 2:13 am A 'Lost Decade' for China?China is likely to soon overtake Japan to become the world's second largest economy, a milestone that will only fuel growing fears about the economic might of the world's largest country.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 2:11 am EU finance ministers agreed IMF role in Greek aid: sourceVIENNA (Reuters) - Euro area finance ministers agreed their countries would take "determined and coordinated action" to help Greece, drawing on IMF expertise but not the Fund's money, an EUSource: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:10 am EU finance ministers agreed IMF role in Greek aid: source (Reuters)Reuters - Euro area finance ministers agreed their countries would take "determined and coordinated action" to help Greece, drawing on IMF expertise but not the Fund's money, an EU government source said on Thursday.Source: Yahoo! News: Business News | 11 Feb 2010 | 2:10 am Take this bank and shove itWhen Abel Collins decided to end his three-year banking relationship with Bank of America earlier this year, he simply wanted to make a statement.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 2:07 am Let Google Run Wild“Letting a hundred flowers blossom and a hundred schools of thought contend is the policy for promoting progress in the arts and the sciences and a flourishing socialist culture in our land.” Mao Zedong, 1956 Wall St. and the press have become critical of Google because it has entered a number of new businesses very quickly [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 2:04 am Total profit drops 44 percent in 2009French oil giant Total posted a profit of 7.8 billion euros (10.9 billion dollars) in 2009, a drop of 44 percent from the previous year due to falling oil prices, the company said Thursday.Source: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:01 am Spanish economy still in recession: official dataThe Spanish economy shrank by 0.1 percent in the fourth quarter of 2009 from output in the previous quarter, making Spain the last major economy still stuck in recession, preliminary data...Source: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:01 am Alcatel-Lucent makes small 4th quarter profitTelecommunications equipment maker Alcatel-Lucent SA on Thursday reported a small net profit for the fourth quarter as one-off gains helped offset a 20 percent drop in revenue. ...Source: RSS feed - channel BNewsBusiness | 11 Feb 2010 | 2:00 am Media Digest 2/11/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: The EU summit will address the Greek bailout. Reuters: Google (NASDAQ:GOOG) will test an ultra-high speed broadband system. Reuters: Sweden took that top spot from the US for use of telecom technology. Reuters: China’s CPI increase slowed. Loan action remained strong. Reuters: Credit Suiss (NYSE:CS) posted a profit. Reuters: Rio Tinto (NYSE:RTP) numbers beat estimates. Reuters: iSuppli says the Apple (NASDAQ:AAPL) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 1:59 am Hopes for Greek lifeline ease nerves08:30 GMT. Hopes that a meeting of European leaders in Brussels would deliver a show of solidarity with Greece, with a bail-out plan to follow, appeared to partially salve the main anxiety roiling markets...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:54 am World Cup crime fears dismissedA Johannesburg city official says an 'exaggerated' fear of crime is partly to blame for some football fans staying away.Source: BBC News | Business | World Edition | 11 Feb 2010 | 1:52 am Clashes reported as Iran marks Revolution DayIranian security forces clashed with opposition supporters when huge crowds flocked to central Tehran to mark the 31st anniversary of the Islamic revolutionSource: Financial Times - US homepage | 11 Feb 2010 | 1:51 am No recovery for Spanish economyThe Spanish economy shrank by 0.1% in the last three months of 2009, making it the last major economy still in recession.Source: BBC News | Business | World Edition | 11 Feb 2010 | 1:51 am Greek woe looms over EU summitEU leaders will seek ways to contain Greece's debt problems and ease pressure on the euro at a summit in Brussels.Source: BBC News | Business | World Edition | 11 Feb 2010 | 1:49 am Rio Tinto cuts final dividend amid price slumpRio Tinto has cut its final dividend after suffering a steep drop in underlying earnings but the Anglo-Australian mining group said that iron ore production was at record levels and hinted that it might increase investment from $5 billion to $6 billion.$ Source: Latest Business News from Times Online | 11 Feb 2010 | 1:48 am Citi offers alternative to foreclosureCitiMortgage, one of the nation's largest mortgage servicers, launches a pilot program Friday designed to ease the pain of some homeowners heading for foreclosure.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 1:48 am Stocks dip on Fed planStocks struggled Wednesday as investors weighed the Greek debt situation, a strong dollar and Fed chairman Ben Bernanke's plan for eventually withdrawing some of the trillions of dollars used to bolster the nation's financial system.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 1:40 am BT shares slump on £9bn pension debt fearsBritish Telecom shares tumbled this morning despite a surge in profits as the telecoms group said its pension deficit had hit £9 billion and that the regulator had “substantial concerns” about its 17-year recovery plan. Source: Latest Business News from Times Online | 11 Feb 2010 | 1:32 am Asia Market And Europe Open (2/11/2010)Markets in Asia rose modestly. The Hang Seng rose 1.9% to 20,291. The Shanghai Composite was up .1% to 2,986. At the open in Europe, the FTSE was up .6% to 5,165. Rio Tinto (NYSE:RTP) posted strong numbers. The Dax rose .4% to 5,557. The CAC 40 was up .5% to 3,655. Alcatel-Lucent (NYSE:ALU) had a profit in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 1:26 am Australia urges Chinese transparency in Rio caseSYDNEY (Reuters) - Australia urged China to deal quickly and transparently with the trials of four Rio Tinto mining staff accused of bribery and stealing commercial secrets, amid growing investor concern over dealing with Beijing.Source: Reuters: Business News | 11 Feb 2010 | 1:13 am Euro rebounds ahead of EU plan to rescue GreeceThe euro regained ground today ahead of a key meeting between European leaders who are expected to announce a multibillion-pound rescue of the Greek economy to try to stop its debt crisis spreading to other countries. Source: Latest Business News from Times Online | 11 Feb 2010 | 1:09 am Credit Suisse wealth arm draws in new moneySwiss financial institution returns to pre-crisis levels of profitability while demonstrating its ability to attract new money in its core wealth management divisionSource: Financial Times - US homepage | 11 Feb 2010 | 1:08 am 10pc contribution to your company pension is not enoughDefined contribution pensions are unlikely to generate enough income for have a decent standard of living during retirement, it was warned today.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 1:03 am Credit Suisse sees annual profitSwiss banking group Credit Suisse announces a return to annual profit in 2009, after making a record loss in 2008.Source: BBC News | Business | World Edition | 11 Feb 2010 | 1:00 am Jeffrey Gundlach strikes back at TCW in courtThe bond fund manager files a countersuit claiming his former employer fired him so it could keep his share of as much as $1.25 billion in fees from assets he managed. ...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am 'The Hurt Locker' has explosive effect on Mark Boal's screenwriting careerThe former investigative journalist, who turned his experience embedded with an Army bomb disposal unit in Iraq into an Oscar-nominated script, says his life has changed drastically. ...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am Toyota, what's so hard about doing the right thing?Successfully responding to a corporate crisis -- like, say, having to recall millions of vehicles because they accelerate out of control or have trouble stopping -- isn't that complicated.
Source: L.A. Times - Business | 11 Feb 2010 | 1:00 am Mattel taps into social media craze with Puppy TweetsThe high-tech toy will post one of 500 canned tweets to a dog's Twitter page after it's triggered by a sound and motion sensor worn on the animal's collar. ...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am U.S. aims to stop backing mortgagesThe question is how to withdraw support without undermining the fragile recovery. Uncle Sam is trying to get out...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am Tough sledding ahead for NBC in GamesThe network forecasts red ink of $250 million.For television giant NBC Universal, the Winter Olympics in Vancouver, Canada, is shaping up to be a bumpy downhill ride.
Source: L.A. Times - Business | 11 Feb 2010 | 1:00 am Toyota, what's so hard about doing the right thing?Successfully responding to a corporate crisis -- like, say, having to recall millions of vehicles because they accelerate out of control or have trouble stopping -- isn't that complicated.Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am In China, shift to privatized healthcare brings long lines and frustrationFor one Inner Mongolian woman and her ailing father, merely obtaining appointments for treatment at Beijing's most prestigious hospital becomes a weeklong, round-the-clock ordeal. ...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am Mattel taps into social media craze with Puppy TweetsThe high-tech toy will post one of 500 canned tweets to a dog's Twitter page after it's triggered by a sound and motion sensor worn on the animal's collar.Twitter Inc. has gone to the dogs.
Source: L.A. Times - Business | 11 Feb 2010 | 1:00 am Tough sledding ahead for NBC in GamesThe network forecasts red ink of $250 million. For television giant NBC Universal, the Winter Olympics in Vancouver,...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am MySpace chief executive resignsOwen Van Natta's unexpected exit comes as the social networking website tries to reinvent itself. In the latest...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am China charges four employees of outside mining company with bribery, theftThe employees of British-Australian firm Rio Tinto, who were arrested in July, are accused of soliciting bribes from steel companies and stealing commercial secrets. ...Source: RSS feed - channel BNPaperBusiness | 11 Feb 2010 | 1:00 am In China, shift to privatized healthcare brings long lines and frustrationFor one Inner Mongolian woman and her ailing father, merely obtaining appointments for treatment at Beijing's most prestigious hospital becomes a weeklong, round-the-clock ordeal.The frigid morning was still blanketed in darkness, but Nie Xiaojuan was awake and holding tightly her place in line. She had just spent her fifth straight night sleeping on the floor of Beijing Union College Hospital's registration hall, which was minutes away from its 6:30 a.m. opening.
Source: L.A. Times - Business | 11 Feb 2010 | 1:00 am De Beers cuts debt, cautious after 2009 lossLONDON (Reuters) - Top diamond producer De Beers bolstered its balance sheet on Thursday with a $1 billion rights issue and bank refinancing as it swung to a annual $220 million underlying loss after demand plummeted for luxury goods.Source: Reuters: Business News | 11 Feb 2010 | 12:44 am Diageo half-year earnings up, sees early recovery signsLONDON (Reuters) - Diageo, the world's biggest spirits group, said it was in the early stages of recovery when reporting a 5 percent rise in half-year earnings and keeping its profit growth target for the year.Source: Reuters: Business News | 11 Feb 2010 | 12:43 am Greek crisis: Q&AAs EU leaders meet in Brussels today to find a solution to Greece's debt crisis, here's an explanation of the problems facing them.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 12:34 am BurgerFuel opens first store in Saudi ArabiaNew Zealand gourmet burger chain Burger Fuel Worldwide Ltd has opened its first store in Saudi Arabia.The 200-seat format store opened in Dammam this week. The opening of the store before the financial year ended in March 31 had...Source: nzherald.co.nz - Business | 11 Feb 2010 | 12:30 am EU leaders search for Greece rescue as financial markets watch and waitEuropean Union leaders meet in Brussels today as markets await a rescue package for Greece.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 12:11 am Credit Suisse profit slows in fourth quarterZURICH (Reuters) - Credit Suisse missed forecasts by posting its weakest quarterly profit in 2009 as market conditions toughened, but it continued to attract client flows while rival Swiss bank UBS struggled.Source: Reuters: Business News | 10 Feb 2010 | 11:49 pm Number of homes for sale at lowest since 2007The number of homes on the market fell to a two-and-a-half-year lowSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Feb 2010 | 11:45 pm James Packer's Sussex polo complex approved despite local oppositionThe billionaire Australian businessman James Packer has received planning permission to build a sprawling £20 million polo complex in the English countryside, despite the opposition of local villagers. Source: Latest Business News from Times Online | 10 Feb 2010 | 11:39 pm NZ sharemarket closes down 20 pointsA disappointing interim result from Steel & Tube took the shine off stocks exposed to the building sector, pushing the New Zealand sharemarket lower today.The benchmark NZX-50 index closed down 20.229 points, or 0.656 per cent,...Source: nzherald.co.nz - Business | 10 Feb 2010 | 11:31 pm MySpace chief executive Owen Van Natta leaves after less than a yearMySpace's chief executive Owen Van Natta has left the music and social networking site less than a year after joining from rival Facebook to revive its fortunes.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Feb 2010 | 11:27 pm Rio Tinto half-year profit slides 23 percent, beats forecastsMELBOURNE (Reuters) - Global miner Rio Tinto reported a 23 percent slide in half-year profit on Thursday, its worst second-half profit in three years, dented by a sharp drop in iron ore prices, but the result beat analysts' forecasts.Source: Reuters: Business News | 10 Feb 2010 | 11:17 pm Dollar loses ground against AussieThe New Zealand dollar hitched a ride higher with the Australian dollar in reaction to news of stronger than expected jobs growth across the Tasman, but it lost ground on the Australian cross.The NZ dollar was worth US69.79c at...Source: nzherald.co.nz - Business | 10 Feb 2010 | 10:54 pm U.S. aims to stop backing mortgagesThe question is how to withdraw support without undermining the fragile recovery.Uncle Sam is trying to get out of the business of running the U.S. mortgage market. The trick will be withdrawing support without toppling the nation's fragile housing recovery in the process.
Source: L.A. Times - Business | 10 Feb 2010 | 10:20 pm Get Your Taxes Done on the CheapWith tax pros struggling, consumers will find more deals this year.
Source: SmartMoney.com | 10 Feb 2010 | 10:00 pm 10 Things Millionaires Won't Tell You (10 Things)They don't think they're rich, and they're usually not Harvard material.
Source: SmartMoney.com | 10 Feb 2010 | 10:00 pm Euro Deficit Woes Herald Trouble for U.S. (Global Recovery Watch)Big, unpaid debts may slow the domestic and global recoveries.
Source: SmartMoney.com | 10 Feb 2010 | 10:00 pm Winter sport funds 'unacceptable'Winter sports receive an "unacceptable" level of funding, the British Olympic Association has said.Source: BBC News | Business | World Edition | 10 Feb 2010 | 9:48 pm GST an option because 'times have changed' - EnglishFinance Minister Bill English was today forced to defend the Government's plan to raise GST after parliamentary rivals accused him of telling "porkies.""They're a bit slow," he told reporters in Wellington. "Over the last six...Source: nzherald.co.nz - Business | 10 Feb 2010 | 9:02 pm MySpace CEO quitsLOS ANGELES - Owen Van Natta is stepping down as CEO of struggling internet social networking site MySpace, effective immediately.MySpace's parent, News Corp. made the announcement late Wednesday, US time.The former Facebook...Source: nzherald.co.nz - Business | 10 Feb 2010 | 8:12 pm Falling NZ house sales may mean faltering recovery, say economistsFalling New Zealand house sale volumes and prices in January may indicate a domestic economy that's struggling to maintain momentum, according to economists.Commenting onSource: L.A. Times - Business | 10 Feb 2010 | 6:31 pm Food prices up 2.1pc in JanuaryFood prices increased 2.1 per cent last month, Statistics New Zealand said today. This follows five consecutive monthly falls in the food price index (FPI) and prices have now returned to levels last seen in September 2009.Stats...Source: nzherald.co.nz - Business | 10 Feb 2010 | 6:30 pm U.S. trade deficit jumps to $40.2 billion despite continued growth in exportsFourth-quarter U.S. economic growth could be revised down with the latest leap in the trade deficit. President Obama has his work cut out for him to meet his goal of doubling exports in five years.The U.S. trade deficit took an unexpectedly large turn for the worse in December, loading more foreign debt onto Americans and lengthening the odds against President Obama's effort to spark job growth by sharply boosting exports.
Source: L.A. Times - Business | 10 Feb 2010 | 6:22 pm Google plans to build high-speed broadband serviceThe technology giant says it will build and test an experimental network in several communities that would be 100 times faster than what is available for many users today.In an ambitious bid to revolutionize how consumers use the Internet, technology giant Google Inc. says it will build a network that would be 100 times faster than what is available for many users today.
Source: L.A. Times - Business | 10 Feb 2010 | 6:18 pm Twitter names Pixar executive as CFOSAN FRANCISCO (Reuters) - Internet microblogging service Twitter named a chief financial officer on Wednesday, as the 2-1/2-year-old company steps up its efforts to make money.Source: Reuters: Business News | 10 Feb 2010 | 6:11 pm Unilever threatens to quit UK over tax burdenThe chief executive of Unilever has warned that the company may move its operations offshore if the Government increases the tax and regulatory burden.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Feb 2010 | 6:01 pm Steel & Tube profits tumble 85pcSteel & Tube Holdings, which supplies steel building products such as reinforcing rods, reported an 85 per cent slump in first-half profit, reflecting weaker demand and prices.Net income fell to $3.17 million, or 3.6 cents a share,...Source: nzherald.co.nz - Business | 10 Feb 2010 | 6:00 pm Questor share tip: Buy Xstrata for long-term valueMick Davis, chief executive of miner Xstrata, is focusing on organic growth. He has - for now - abandoned the courtship of Anglo American and will continue with the development of his company's current mines.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Feb 2010 | 5:38 pm Questor share tip: Buy JP Morgan Indian IT despite risksThis investment trust, which invests in major Indian companies, has seen some weakness in its share price recently as fears of a sovereign crisis in southern Europe has caused some investors to liquidate risky assets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Feb 2010 | 5:37 pm US attacks UK court over torture claim caseThe White House has criticised a British court decision to publish secret information about allegations of torture by US officials, stating that the move ‘will complicate the confidentiality of the intelligence sharing relationship between the UK and US’Source: Financial Times - US homepage | 10 Feb 2010 | 5:35 pm In the real world interest rates are going to rise as lenders reprice riskA more hawkish tone has been evident from many economic commentators in recent weeks, reflecting expectations that interest rates would start to rise this year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Feb 2010 | 5:32 pm A Motorola Restructuring Plan Won’t MatterMotorola (MOT) has not had a real strategy or good explanation of what it is for years. The company got into the handset market very early in the history of the industry, in 1991. It bought the General Instrument set-top box company in 1999 for $11 billion. Motorola acquired Symbol Technologies in 2007 to enter the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 5:10 pm Future RwandaCan fast broadband outpace war memories?Source: BBC News | Business | World Edition | 10 Feb 2010 | 5:08 pm Bernanke reveals strategy to rein in stimulus measuresBen Bernanke laid out the Federal Reserve’s vision for withdrawing liquidity from the US financial system, including increases in the interest rates it pays on reserves and market operations that could over time include the sale of mortgage-backed securitiesSource: Financial Times - US homepage | 10 Feb 2010 | 5:05 pm Greek tragedy offers Berlin a chance to usher in true European reformWake up, smell the Greek coffee. Prod Germany out of its slough of despond. Thanks to an absurd financial mess in the Balkans, there beckons a once-in-a-lifetime opportunity to reform Europe’s finances. Source: Latest Business News from Times Online | 10 Feb 2010 | 5:01 pm A continent looks on nervously as Greek union flexes musclesThe historical hub of civilised Europe found itself cut off from the rest of the Continent yesterday as workers in Greece grounded flights, paralysed ports and blocked border crossings. Source: Latest Business News from Times Online | 10 Feb 2010 | 5:01 pm Hargreaves Lansdown acts to beat rising tax rateAlmost 15,000 private shareholders in Hargreaves Lansdown had cause for celebration yesterday after the financial adviser more than tripled its interim dividend in an attempt to beat new tax rates. Source: Latest Business News from Times Online | 10 Feb 2010 | 5:01 pm New rail link could be just the ticket at £27.5bnA high-speed rail line from London to Manchester could be delivered at a net cost to the public purse of £27.5 billion, according to a report to be published today by PricewaterhouseCoopers (PwC). Source: Latest Business News from Times Online | 10 Feb 2010 | 5:01 pm AIG: No more retention bonusesAIG announced on Wednesday that it is changing the way it pays out bonuses to its employees, opting to determine compensation based on performance.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 5:00 pm Jeffrey Gundlach strikes back at TCW in courtThe bond fund manager files a countersuit claiming his former employer fired him so it could keep his share of as much as $1.25 billion in fees from assets he managed.Star L.A. bond fund manager Jeffrey Gundlach filed a countersuit Wednesday against his former employer, TCW Group Inc., alleging the firm ousted him to avoid having to share as much as $1.25 billion in fees from assets Gundlach oversaw.
Source: L.A. Times - Business | 10 Feb 2010 | 4:58 pm Activision rocked by ‘Guitar Hero’ writedownActivision Blizzard, the world’s biggest video game publisher, announced a $409m writedown as its Guitar Hero franchise hit a sour note with consumersSource: Financial Times - US homepage | 10 Feb 2010 | 4:55 pm Summary Box: Stocks slip as Fed plans to trim aid (AP)AP - WHY DID STOCKS FALL ON BERNANKE'S COMMENTS? Investors reacted to plans from Federal Reserve Chairman Ben Bernanke to withdraw the central bank's supports for the economy. That includes eventually boosting interest rates.Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 4:29 pm How the major stock indexes fared on Wednesday (AP)AP - The stock market managed to steady itself after hearing Federal Reserve Chairman Ben Bernanke's plans to dismantle the central bank's supports for the economy.Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 4:25 pm Short Interest In Banks Surges, Falls In TechShort interest in major banks rose sharply for the period that ended on January 31. Share short in Citigroup (NYSE:C) were up 11% to 439 million. The short interest in Bank of America (NYSE:BAC) rose by 18% to 327 million. Shares short in Fannie Mae (NYSE:FNM) were up 11% to 131 million and up 6% to 78 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 4:25 pm Global bank tax near, says BrownThe world’s leading economies are close to agreeing a global bank tax, said the prime minister, amid hopes in Downing Street a deal can be struck at the G20 summit in Canada in JuneSource: Financial Times - US homepage | 10 Feb 2010 | 4:22 pm Stocks stall as Bernanke signals end of stimulus (AP)
Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 4:17 pm The economy is so bad that ......We might as well joke about it. Share your one-liners about the economy on Scott Jagow's Scratch Pad blog.Source: Marketplace | 10 Feb 2010 | 4:04 pm Apple move to sell US TV shows for $1Apple could begin selling US television shows for $1, half of its charge on its iTunes digital media store, when the computer maker’s iPad tablet computer hits the storesSource: Financial Times - US homepage | 10 Feb 2010 | 4:00 pm CME to own 90 percent of Dow Jones joint venture (AFP)
Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 3:57 pm Stocks slip as Bernanke offsets Greece report (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 3:56 pm Write-Offs: 02.10.10$$$ "We like to think of ourselves as a global exchange, not just a New York exchange," said Ms. Mogavero. "There is no snowstorm in India right now, so we have to be open for those customers." Everyone else can go home. Or not go home.[WSJ] $$$ AIG Plans Revamp [AIG] $$$ Bronx Man Looking for Home for Feral Chickens [Daily Intel] $$$ When Private Equity Geniuses Fail [Dealbook] $$$ For $110, Godless Will Adopt Pets of Blessed After Judgment Day [Bloomberg] 
 Source: Dealbreaker | 10 Feb 2010 | 3:30 pm Hitting A New Low In CaliforniaChad H. writes: Are you guys still taking stories that exhibit signs of the financial times? If so, I've definitely got one for you. I'm a student at UC Berkeley, and I work for Building Management in the College of Chemistry. Times are pretty rough here right now; funding is low and we've had a lot of people laid off around the college, especially locksmiths, custodians and people of that sort. Recently, we had a rash of flushometers -- the metal rods you push to flush a toilet--stolen from bathrooms all around campus, but especially in the College of Chem. It even made the news. Our police department suspects that someone is stealing them to sell the copper. The Daily Californian reports: In the week between Jan. 22 and Jan. 28, at least 20 flushometers were reported missing from 11 different campus buildings. Since then, the total number of reportedly stolen flushometers has climbed to 29 and now spans 12 campus buildings, according to UCPD logs. Three drain gates, five end caps and three fire hydrant valve caps have also been reported missing. And at a time when ongoing budget cuts continue to ravage campus coffers, the value of the stolen property now approaches $8,000. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Feb 2010 | 3:00 pm Sprint, NYT, Dean Foods, Micron are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Wednesday:Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 2:29 pm Las Vegas Ritz Shutting Down Due To Banker BashingThere's been much talk about some bankers booking all of Wall Street surrounding area's hotel rooms today, but if you want to be really charitable, just move your drunken asses from Stone Street's bar stools and head to Vegas. The Ritz-Carlton, owned by a DB arm, is closing down, due to the "AIG-effect." Maybe if enough people get out there we can save this place.
Source: Dealbreaker | 10 Feb 2010 | 2:28 pm Star bond-fund manager sues former bossSource: Business and financial news - CNNMoney.com | 10 Feb 2010 | 2:22 pm Fed ready to curb easy moneyFederal Reserve chairman Ben Bernanke unveiled a blueprint Wednesday for pulling back -- when the economy is strong enough --the trillions of dollars the central bank provided to prop up the nation's banks and the U.S. economy.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 2:19 pm Greek unions strike over deficit-slashing measures (AP)
Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 2:10 pm Just Putting It Out There: There Are Goldman Sachs Employees Sleeping At The Hotel Located Near Goldman Sachs Tonight
Source: Dealbreaker | 10 Feb 2010 | 1:52 pm The Buzz: Greece bailout may be bad newsWho said there was bailout rage and fatigue? Investors around the world uttered a collective cry of "Danke" and "Opa!" due to reports that Germany may rescue the shaky Greek economy.Source: Business and financial news - CNNMoney.com | 10 Feb 2010 | 1:48 pm Will Toyota's TV apology ad help?With all of its recall issues, Toyota has a lot of explaining to do. But before that, the company is doing some apologizing in the form of a TV ad. Rico Gagliano looks into the history of corporate mea culpas to see how Toyota's stacks up.Source: Marketplace | 10 Feb 2010 | 1:43 pm Google to offer fast Internet broadbandGoogle says it's starting an experiment in which it will provide ultra-fast Internet service to a handful of communities. Amy Scott reports.Source: Marketplace | 10 Feb 2010 | 1:43 pm How big is genealogy?Megan Smolenyak, a professional genealogist, talks with Kai Ryssdal about the business of finding out where you came from, and genealogical tourism.Source: Marketplace | 10 Feb 2010 | 1:43 pm Biz opportunities in diagnostic manualA draft of the fifth edition of the Diagnostic Statistical Manual has hit the Internet. The DSM isn't just a guide to disorders, it's a manual for making money. Gregory Warner reports.Source: Marketplace | 10 Feb 2010 | 1:43 pm I'm an Anthem customer, and switchingHealth care insurer Anthem Blue Cross has been getting a lot of attention for its decision to increase rates. Anthem customer and commentator Robert Reich says the company's move is a good argument for reform.Source: Marketplace | 10 Feb 2010 | 1:43 pm Government draws more people to D.C.The nation's capital is hopping because the bad old days when Washington's murder rate was the highest in the country and the mayor was busted for smoking crack seem like a long time ago. Why? Brett Neely reports.Source: Marketplace | 10 Feb 2010 | 1:43 pm Bernanke Offers Some Details About Future TighteningBy Caitlin Kenney We'll have to wait until the snow stops to actually hear Federal Reserve Chairman Ben Bernanke talk about possible exit strategies from programs the Fed enacted in the wake of the financial crisis. For now, we've got his prepared remarks. The bit everyone seems to have keyed in on is Bernanke's mention of possibly boosting the interest rate the Fed pays banks for money they leave at the central bank. ...In October 2008 the Congress gave the Federal Reserve statutory authority to pay interest on banks' holdings of reserve balances. By increasing the interest rate on reserves, the Federal Reserve will be able to put significant upward pressure on all short-term interest rates, as banks will not supply short-term funds to the money markets at rates significantly below what they can earn by holding reserves at the Federal Reserve Banks. Actual and prospective increases in short-term interest rates will be reflected in turn in longer-term interest rates and in financial conditions more generally. With the federal funds rate (the rate banks charge each other for overnight loans) at nearly zero, the Fed has had to look for new ways to control credit. By giving banks an incentive to keep money at the Fed, Bernanke hopes to keep them from lending, particularly at rates below what he and the Fed want the federal funds rate to be. An FAQ on the New York Fed's website explains it this way: With the payment of interest on excess balances, market participants will have little incentive for arranging federal funds transactions at rates below the rate paid on excess. By helping set a floor on market rates in this way, payment of interest on excess balances will enhance the Desk's ability to keep the federal funds rate around the target for the federal funds rate. Bernanke said the Fed is also considering other "tools" to reduce the amount of reserves in the banking system. The tools would "lower the net supply of funds to the money markets," giving the Fed more control over "short-term interest rates." So when will the Fed use these tools to reverse the "currently very high degree of monetary stimulus?" Here's Bernanke: Although at present the U.S. economy continues to require the support of highly accommodative monetary policies, at some point the Federal Reserve will need to tighten financial conditions by raising short-term interest rates and reducing the quantity of bank reserves outstanding. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Feb 2010 | 1:33 pm Fitch Joins Berkshire & Buffett Downgrade Brigade (BRK-B, BRK-A, BNI)Berkshire Hathaway Inc. (NYSE: BRK-B) (NYSE: BRK-A) has already seen its ratings cut last week by Standard & Poor’s over the added leverage of the Burlington Northern Santa Fe (NYSE: BNI) acquisition. Now we have Fitch Ratings joining in on the wave of downgrades. The difference here is that Berkshire Hathaway had already been under [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 1:05 pm Presented By:Source: Dealbreaker | 10 Feb 2010 | 1:01 pm Senator Larry?If it feels like the world is ending today it's not because of a light dusting but rather that one DC resident is saying he has no problem whatsoever with Dimon and Blankfein's bonuses, there was an earthquake in Chicago this morning and someone thinks Larry Kudlow could get elected to the Senate.
Source: Dealbreaker | 10 Feb 2010 | 1:01 pm Peabody Energy Raised to `Overweight' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 10 Feb 2010 | 12:59 pm Stroock's Jerry Goldfeder on Citizens United: BLAWSource: Bloomberg - All Podcasts | 10 Feb 2010 | 12:56 pm Obama says bonuses are part of free marketBarack Obama said he ‘did not begrudge’ the multi-million dollar bonuses given out to Lloyd Blankfein of Goldman Sachs and Jamie Dimon of JPMorgan Chase and added that their large pay-outs were a consequence of America’s ‘free market system’.Source: Financial Times - US homepage | 10 Feb 2010 | 12:48 pm 29 Year-Old Banker Attempts To Make Sense Of It All With Only One Hand Showing
On a recent drizzly Sunday afternoon, a 29-year-old New York banker was sitting in a West Village cafe, eating biscotti with a mocha cappuccino and a glass of grapefruit juice. "I want to retire early and maybe do something else," he sighed. Oh, don't you love you when you top off cliched statements with that reflective sigh thing? I bet when you paused you had a look of contemplation on your face, too. "I had these big dreams when I was a kid to help people. But it's much harder than one might think," the young man said. "You have to do your job. You're in the Army, and they send you to Vietnam. It's not a good war, but they tell you to shoot. You shoot. It's very complicated, but people don't see that. I have a job. I tried to do that the best I could." It is hard. You know what else is hard? You, realizing that analogy sounded even better out loud than it did in your head. Lady Gaga probably would be too, if only she were lucky enough to be a fly on the wall during this conversation. THE HANDSOME YOUNG BANKER has olive skin and black hair, but slightly mean-looking eyes. He doesn't like working out, though he has shirtless photos of himself on Facebook. His girlfriend is three years younger. He likes The Economist and house music. He owns a few nice suits, which are Hugo Boss and were bought on sale: "I love," he said, "making good deals." He goes to private openings of meatpacking district clubs with colleagues, where they can party while talking business. Last month he saw a Lady Gaga concert with friends: "She puts on a great show, but the music is not that great."
Source: Dealbreaker | 10 Feb 2010 | 12:28 pm Bernanke lays out vision for Fed monetary exitWASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday detailed how the U.S. central bank will begin to wean the economy off its extraordinary stimulus, even as he stressed it was not yet time to do so.Source: Reuters: Business News | 10 Feb 2010 | 12:02 pm Google’s Speed-Of-Light Crazy Broadband NetworkGoogle (GOOG) plans to launch an experiment to test a super-high-speed broadband network, the company said. “We’ll deliver Internet speeds more than 100 times faster than what most Americans have access to today with 1 gigabit per second, fiber-to-the-home connections. We plan to offer service at a competitive price to at least 50,000 and potentially up [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Feb 2010 | 11:53 am Bove: Continued Banker Bashing Will Force Executives Into Playing For The NBAGood day for the Goldmanites and Dimonites of the world. Following Obama's acknowledgement that the whole banker-hatin' was just a joke, Dick Bove has issued a report noting that the thing Obama said about bankers and ball players and pay? He's said it for years. I have constantly pointed out that one can make more money playing third base for the New York Yankees or being a shooting guard with the Los Angeles Lakers than one can get paid for running a financial company with hundreds of thousands of employees.
Source: Dealbreaker | 10 Feb 2010 | 11:43 am A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Wednesday:Source: Yahoo! News: Stock Markets News | 10 Feb 2010 | 11:25 am Snowstorm boosts hardware store's bizAmity Jeans, assistant manager at Frager's Hardware in Washington, D.C., talks with Kai Ryssdal about how the East Coast snowstorm has affected the store's business.Source: Marketplace | 10 Feb 2010 | 11:15 am Fed shifts toward greater opennessFederal Reserve Chairman Ben Bernanke's testimony before a House committee was postponed because of the East Coast snowstorm, but he made sure to release his statement anyway. Why? Bob Moon reports.Source: Marketplace | 10 Feb 2010 | 11:15 am Bonus Watch '10: Goldman Sachs
Presented By:
Source: Dealbreaker | 10 Feb 2010 | 10:52 am Traders Who Commute Psyched For Opportunity To Spend The Night In The City, Momentary Respite From The Old Ball And ChainBloomberg reports that not everyone is freaking out over the prospect of a little more snow and are in fact keeping fingers crossed they'll be forced to tell the wife/husband they're stranded for the night. 'Cause that's when the real party* gets started. Weather advisories calling for as much as 20 inches of snow prompted firms such as New York-based Jefferies & Co. to reserve hotel rooms in Manhattan as a precaution if employees can't make their usual commutes. That's good news to traders who welcome an evening at the pubs. *One night each year they get off from the nagging wife/fat husband and screaming children.
Source: Dealbreaker | 10 Feb 2010 | 10:41 am Bernanke says Federal Reserve will scale back stimulus policies . . . eventuallyThe Fed chairman's exit strategy is outlined in written testimony for a snowstorm-delayed House hearing. The central bank will take actions including an interest-rate hike, but the timeline is hazy.A snowstorm Wednesday didn't keep Federal Reserve Chairman Ben S. Bernanke from outlining to lawmakers how the central bank might pull back its unprecedented intervention in the U.S. economy. But how exactly the long-awaited exit strategy would be deployed was obscured in a blizzard of ambiguities.
Source: L.A. Times - Business | 10 Feb 2010 | 10:38 am The Snowstorm Economy
A plow clears snow in front of the White House on Wednesday. (Yuri Gripas/AFP/Getty Images) By Caitlin Kenney Former Planet Money intern, Devin Dwyer, has a nice piece up over at ABC news today about how taxpayers may be impacted by Washington's third straight snow day: Office of Personnel Management chief John Berry, who decides when to close the federal government, has said each snow day costs taxpayers an estimated $100 million in work government employees don't do.Federal workers are still paid for the unanticipated days off due to weather. Other government shutdowns -- such as the six-day closure in November 1995 during a budget dispute in Congress -- furloughed non-essential workers, thereby saving taxpayers money. All that fluffy white stuff has also hurt local governments who are quickly blowing through their snow removal budgets. Virginia has already exhausted its funds for the season plus a $25 million emergency reserve, and the District of Columbia is also over budget. Of course, the continuing snowfall is good for some business owners. ABC talked to Mark Schneider, co-owner of Schoenberg Salt Company, one of the largest distributors of bulk de-icing chemicals in the Northeast: "January was a very slow month; now February flipped completely the other way. Is this a record year? No, not yet. But business has definitely been strong." Schneider says his company, which typically imports 500 to 600 truckloads of rock salt each winter from South American suppliers, is receiving calls around the clock from the states of Maryland and Virginia asking for additional de-icing supplies. For now, he says happily, the company has been able to fill those orders. But if the latest storm is as bad as forecasters predict -- dumping 10 to 20 inches of snow from the mid-Atlantic into New England -- existing supplies may reach a "tipping point." Here in New York, I can tell you it's a very quiet day on Mulberry Street, a tourist mecca known for its numerous Italian restaurants. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 10 Feb 2010 | 10:23 am Happy Birthday, Lenny Dykstra *And* Jim Cramer
Source: Dealbreaker | 10 Feb 2010 | 9:54 am China Investment Raises Holdings in ETF Crude Futures: AudioSource: Bloomberg - All Podcasts | 10 Feb 2010 | 9:28 am ISI’s Gallagher: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 10 Feb 2010 | 9:09 am Collins Stewart’s Dwyer: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 10 Feb 2010 | 9:05 am Ethan Harris: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 10 Feb 2010 | 9:03 am Bloomberg’s Goldman: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 10 Feb 2010 | 9:02 am UBS's Berner: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 10 Feb 2010 | 9:01 am 15 Valentine’s Day Gifts for Women–For Less Than $50Valentine’s Day doesn’t have to mean diamonds and designer lace–especially if you’re on a budget. The woman in your life will appreciate any number of well-chosen gifts, regardless of price tag. We compiled 15 of the best Valentine’s Day gifts for women below. All of them cost less than $50. Hanky Pankies
Many women are currently crazy about hanky pankies, stretch lace thong underwear touted to be the world’s most comfortable. Bonus: They look sexy, too. Appearance polishers
While women prefer to buy some makeup themselves, most will appreciate gift sets. Go for lip glosses, eye shadow color samplers like this one, or prepackaged makeup sets. Gourmet chocolate
If your woman likes chocolate–most do–indulge her with a high-end confection. Such treats include truffles, salted caramels, or even bacon chocolate. Most high-end grocers sell them. Pampering tools
Provide her with the right tools to pamper herself. Many stores sell shower gel, scrubs, masks, and other tools of the trade in packs or gift baskets. Lingerie
This traditional Valentine’s Day gift doesn’t have to set you back much. Try a chemise or babydoll if you want something more subtle; go for a teddy and garters to get wild. Massage gift certificate
Some masseuses, especially those located in retail shops, offer massages for less than $50. She’ll appreciate the gift–and the relaxation it helps her attain. Framed couples picture
Find a nice picture of the two of you, then have it framed. Simple, budget-friendly, and she’ll love it. Dance lesson
You may cringe at the thought of ballroom or salsa dancing, but this bullet is worth biting. By buying a class for the two of you, you’re showing her that you value her feminine fantasy more than your own mortal embarrassment. She’ll appreciate you for it. Potted plant
While cut flowers die after a week, potted ones can keep blooming for months. Tulips, orchids, and daffodils should be available at your local grocery store. If you don’t know what her favorites are, defaulting to small potted roses is usually a safe bet. Comfortable sleepwear
Pajamas can be sexy, too. And women love a good pair of comfortable, cute PJs. Victoria’s Secret usually has a good selection. Cute carrying case
Accessories
Scarves and stacked bracelets are among the “it” accessories to have right now–and blissfully cheap to get your hands on. ShySiren has lots of bejeweled purse hangers like the ones above (also trendy); look for other accessories in department stores. Candles
A high-quality scented candle (or votive set) can do a lot to lift a woman’s mood. Ask her what scents she likes best, then find good candles to give her. Crystal
It’s not a precious gem, but crystal can still make women ooh and aah. You can find crystal pendants, keychains, and bracelets for less than $50. Swarovski has one of the best selections. Roses
Tried-and-true. A dozen red roses will probably cost more than $50 at the florist, so scour your local grocery store or farmer’s market.
Source: Business Pundit | 10 Feb 2010 | 8:49 am Charles Wyplosz: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 10 Feb 2010 | 8:41 am Luigi Zingales: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 10 Feb 2010 | 8:40 am Google to Build Broadband NetworkAfter years of buying up fiber lines, Google has announced it will build a high-speed broadband network. PCWorld’s Mark Sullivan has more: Google said Wednesday it will build a series of “ultra high-speed” fiber optic broadband networks that will pump out 1GB bps (bit per second) connections to the lucky “50,000 to 500,000 people” within their reach. Google says it will use an open access model, where the owner of the network sells wholesale space on the network to third party ISPs, who will then sell broadband service to consumers under their own flag. Here’s Google’s own description of the plan. The announcement comes right on the heels of the federal government releasing the first round of funding for broadband networks to rural and underserved areas. It appears to be intended as an adjunct to the FCC’s own Broadband Plan, as if to say: “See, you can do it like this.” Google hopes that the new model will fire up the business of being a small, local ISP. That can only be good. The regulators have allowed the huge ISPs (AT&T, Verizon et al) to dominate the broadband business with sheer scale, forcing the smaller guys out. Imagine buying internet service from Bob’s ISP at a reasonable price; oh, and you get 1GB of throughput. Buying affordable Internet from a local provider would be nice. If this is Google’s own small-business stimulus plan, I agree with author Mark Sullivan–I hope it works out.
Source: Business Pundit | 10 Feb 2010 | 7:40 am Honda Recalls More Cars
Honda has announced it will recall 437,763 more vehicles because of faulty air bags. The total number of recalls is now over 950,000. Models include Accords, Civics, CR-Vs, Acura TLs, and Odysseys. Nearly 379,000 of those cars are in the U.S. Businessweek reports: “Because of the Toyota recalls, Honda’s action is getting a lot of attention, but it’s not fundamentally a big deal,” said Mamoru Kato, an analyst at Tokai Tokyo Research Center in Nagoya, Japan. “Recalls are kind of an everyday thing.” The company knows of one death and 12 incidents related to the air-bag defect, John Mendel, Honda’s U.S. executive vice president, said in a conference call. “The air bag produces excessive internal pressure, and there’s a risk of some metal shards coming through. That could cause injury.” U.S. vehicles to be repaired include some 2001 and 2002 Accord and Civic cars, Odyssey minivans, CR-V sport-utility vehicles and 2002 Acura TL cars. An initial U.S. recall in November 2008 included 4,600 Accords and Civics, and another 440,000 of those cars and some Acura TLs were added in July. The company will notify affected car owners in writing. The AP adds: One analyst suggested Toyota’s woes may have lowered the bar for recalls, prompting automakers to announce full-fledged recalls for problems that would normally be handled during regular car inspections or service campaigns calling in cars at the owner’s convenience. “With Toyota’s big problems, Honda probably realized it couldn’t avoid a recall in these other models,” said Toshirou Yoshinaga, an analyst at Aizawa Securities in Tokyo. But Honda’s (PR manager Natsuno) Asanuma denied Toyota’s problems had any impact on Honda’s actions, while acknowledging increased consumer sensitivity to safety issues. “We are following the normal procedure, so it doesn’t mean customers’ feelings changed our attitude,” she said. “There are strict regulations regarding recalls.” As much as Honda claims its recalls are normal, I’m sure the company isn’t happy about the Toyota fiasco. Japanese automakers as a whole will have to defend their reputations for a while. In the meantime, competitors have a window of opportunity to prove their mettle. Hear that, US carmakers?
Source: Business Pundit | 10 Feb 2010 | 7:21 am Morning Report: U.S. Trade Deficit Widens In DecemberBy Caitlin Kenney Good morning! The U.S. trade deficit widened more than expected in November, as surging oil prices helped imports to outgain exports. The gap widened to $40.2 billion during the month, the biggest in a year, according to the Commerce Department. The trade deficit measures the difference between the dollar value of goods the U.S. buys from other countries and the dollar value of the goods it sells to other countries. The jump of 10.4 percent in December reflects the largest monthly increase in exports since March 2007. Exports rose 3.3 percent in December to $142.7 billion. Imports however, saw a more substantial jump of 4.8 percent. That increase was led by a 9.2 percent increase in imports of crude oil and 0.9 percent increase in the price per barrel of oil. The U.S. trade deficit totaled $380.7 billion in 2009, down markedly from a deficit of $695.9 billion in 2008. And, the housing market is still hurting. The Mortgage Bankers Association said U.S. mortgage applications decreased last week. The group's composite index fell by 1.2 percent after increasing nearly 21 percent a week earlier. Plus, a new report from real estate website Zillow.com found that one of every five U.S. home owners owed more on their mortgage than their home was worth in the fourth quarter. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Feb 2010 | 7:15 am A Most Creative Personals Ad
Source: Business Pundit | 10 Feb 2010 | 4:10 am
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