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As Moody’s Targets Japan, The Sovereign Debt Crisis Moves Closer To The USIt is one thing when credit agencies downgrade the sovereign debt of modest-sized nations like Greece or Spain. It is quite another when the world’s largest economies like Japan or the UK go into the crosshairs of analysts. Moody’s (MCO) said its outlook on Japan would move into the negative category if the world’s No.2 economy [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 3:20 am Stocks set to tumbleU.S. stock futures tumbled Thursday, as investors braced for Federal Reserve chief Ben Bernanke's second day of testimony on Capitol Hill and worries about the debt crisis in Greece resurfaced.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 3:07 am Doctors' dilemma as fit note replaces sick noteDoctors have reservations about a new sick note regime, forecast to save the economy £240m over the next 10 years and due to come into force on April 6.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 3:07 am Deutsche Telekom profit plunges 70%Deutsche Telekom, the biggest European telecommunications operator, said Thursday that 2009 net profit plunged by more than 70 percent owing to asset devaluations of more than two billion...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 3:07 am German chemicals giant posts strong growthGerman chemicals giant BASF posted stronger than expected fourth quarter results on Thursday, and said the worst was over after its 2009 net profit was less than half from the previous...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 3:07 am Economic Report: German jobless numbers rise less than forecastGerman employers cut fewer jobs than expected in February, with the number of seasonally-adjusted unemployed rising by 7,000.
Source: MarketWatch.com - Top Stories | 25 Feb 2010 | 3:07 am RBS loss shrinks, calls bad debt peakLONDON (Reuters) - Royal Bank of Scotland posted the largest 2009 loss of its European peers but shrank from record-breaking levels, despite a sharp jump in bad debts which it says may now have peaked.
Source: Reuters: Business News | 25 Feb 2010 | 3:03 am Worries over Greece send euro tumblingGlobal Markets Overview: FTSE World equity index falls 0.4% as the single currency slides to a one-year low against the yen, sparking fears that a flight into ‘haven assets’ is again under waySource: Financial Times - US homepage | 25 Feb 2010 | 3:01 am Eurozone economic sentiment falls in FebruaryThe European Commission says that economic sentiment in the 16 countries that use the euro fell during February, a further sign that the recovery from recession has lost its momentum. InSource: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 3:01 am Eurozone economic sentiment falls in February (AP)AP - The European Commission says that economic sentiment in the 16 countries that use the euro fell during February, a further sign that the recovery from recession has lost its momentum.Source: Yahoo! News: Business News | 25 Feb 2010 | 3:01 am Tel Italia to delay results because of probeMILAN (Reuters) - Telecom Italia postponed the Thursday release of its 2009 results amid a probe into an alleged 2 billion euro ($2.7 billion) money-laundering operation involving its Sparkle unit and broadband group Fastweb.
Source: Reuters: Business News | 25 Feb 2010 | 2:59 am Japan sympathetic to tearful Toyota headNever mind the congressional hearing. What the Japanese are riveted by is Toyota president Akio Toyoda's weepy display of emotion when he met American dealers. The footage is being...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 2:59 am Tearful Toyota chief says sorry for auto defects (AFP)
Source: Yahoo! News: Business News | 25 Feb 2010 | 2:55 am World stocks fall as new Greece worries weigh (AP)
Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 2:55 am World stocks fall as new Greece worries weigh (AP)
Source: Yahoo! News: Business News | 25 Feb 2010 | 2:55 am World stocks fall as new Greece worries weighWorld stock markets dropped along with the euro Thursday amid growing concerns about Greece's ability to bring its debt crisis under control. Major markets in Asia were down around 1...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 2:55 am Alison Platt: the woman who hopes to neuter gender prejudiceAlison Platt, chairman of Opportunity Now, says fighting sexual inequality is more than just a matter of principle.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 2:50 am London Markets: Banks advance as RBS earnings boostBanks gain notably for the second day in London, with Royal Bank of Scotland providing investors with some cheer after narrowing its loss.
Source: MarketWatch.com - Top Stories | 25 Feb 2010 | 2:47 am Financial complaints rise againThe number of new complaints made to the Financial Ombudsman Service rose by 18% in the last six months of 2009.Source: BBC News | Business | World Edition | 25 Feb 2010 | 2:45 am Big banks trying to make nice with youDon't look now, but your big bank wants you back.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 2:35 am How personality can be a force for successThe Prime Minister's interview with Piers Morgan and other events along with forthcoming live television debates among the political leaders underline the power of personalities in politics.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 2:34 am Toyota shares outperform after Toyoda hearingShares of recall plagued Toyota Motor Corp. fared better than the overall Tokyo market Thursday in the wake of the company's iconic president's testimony to a U.S. congressional panel.
Source: MarketWatch.com - Top Stories | 25 Feb 2010 | 2:32 am Osborne promises honesty on cutsA Conservative government would be "straight" with the public about its plans to cut spending, George Osborne says.Source: BBC News | Business | World Edition | 25 Feb 2010 | 2:31 am Germany's Henkel Q4 net profit down 80 percent (AP)AP - Henkel, the German maker of soap, laundry detergent and other household products, said Thursday that its fourth quarter profit slipped 80 percent from last year because of the sale of its stake in Ecolab.Source: Yahoo! News: Business News | 25 Feb 2010 | 2:30 am He timed the banking market perfectlyLast Thursday, as most of the financial world digested news that the Fed had hiked the discount window rate, star banking analyst Meredith Whitney hosted a bash to celebrate the first anniversary of her boutique research firm in midtown Manhattan.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 2:26 am France: Deal on Airbus A400m plane being finalizedThe French defense minister says the seven nations behind Airbus' A400M military transport plane are finalizing a deal with manufacturer EADS "step by step." Defense Minister Herve MorinSource: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 2:24 am A week of work experience can set a career in motionDon't write off schemes such as Backing Young Britain, they can younger workers break into the jobs market, says James Caan.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 2:24 am France: Deal on Airbus A400m plane being finalized (AP)AP - The French defense minister says the seven nations behind Airbus' A400M military transport plane are finalizing a deal with manufacturer EADS "step by step."Source: Yahoo! News: Business News | 25 Feb 2010 | 2:24 am RBS chief executive Stephen Hester defends £1.3bn in bonuses despite lossChief executive Stephen Hester says bonuses are necessary to help return the bank to profit.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 2:21 am Nissan, Suzuki, Daihatsu to recall cars in JapanTOKYO (Reuters) - Nissan Motor Co will recall 76,415 cars across 10 models in Japan due to a possible defect that may cause engine failure, a filing with the transport ministry showed.
Source: Reuters: Business News | 25 Feb 2010 | 2:20 am Greece downgrade fears hurt euro, stocksLONDON (Reuters) - World stocks, the euro and commodities fell on Thursday on concerns over a potential downgrade of Greece's debt, while borrowing costs for peripheral euro zone countries rose.
Source: Reuters: Business News | 25 Feb 2010 | 2:18 am Greece downgrade fears hurt euro, stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 2:18 am RBS reports £3.6bn loss for 2009Royal Bank of Scotland reports a loss of £3.6bn for 2009, much reduced from the £24bn it lost in 2008.Source: BBC News | Business | World Edition | 25 Feb 2010 | 2:16 am RBS annual losses narrow to £3.6bnAnnual losses at RBS shrunk to £3.6bn last year from £24.3bn in 2008 after the investment banking division of the state-controlled bank returned to profitSource: Financial Times - US homepage | 25 Feb 2010 | 2:12 am Pension funds attack tax plansThe government is told its plans to tax high earners' pension contributions will do "enormous harm" to firms' pension provision.Source: BBC News | Business | World Edition | 25 Feb 2010 | 2:12 am Royal Bank of Scotland loses $5.5 billion in 2009 (AP)AP - Royal Bank of Scotland Group PLC, government-owned after being bailed out, reported a loss of 3.6 billion pounds for 2009 but beat expectations and said the peak of bad loans from the economic crisis may have passed.Source: Yahoo! News: Business News | 25 Feb 2010 | 2:10 am Royal Bank of Scotland loses $5.5 billion in 2009Royal Bank of Scotland Group PLC, government-owned after being bailed out, reported a loss of 3.6 billion pounds for 2009 but beat expectations and said the peak of bad loans from the...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 2:10 am RBS loss shrinks, impairments may have peakedShares in Royal Bank of Scotland rose as much as 8% Thursday after the part-nationalized U.K. lender reported a smaller-than-expected loss and said it believes impairment charges have peaked.
Source: MarketWatch.com - Top Stories | 25 Feb 2010 | 2:09 am Honda launches CR-Z hybrid, says margins higherTOKYO (Reuters) - Honda Motor Co on Thursday launched the sporty CR-Z model, its second in a line of low-cost hybrid cars aimed at meeting stricter environmental regulations and expanding sales in the tough global car market.
Source: Reuters: Business News | 25 Feb 2010 | 2:04 am France Telecom reports net profit slump for 2009France Telecom reported a 26.3-percent slump in net annual profit on Thursday, saying its priorities were to push on with deep reforms, with attention to employment conditions after a...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 2:01 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 25 Feb 2010 | 2:01 am Hummer to close after Chinese deal collapsesGeneral Motors' deal to sell its Hummer brand to a Chinese automaker fell through Wednesday and the company said it now plans to shut down the brand.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 1:58 am Merkel: euro in difficult situation for 1st time (AP)AP - The euro is in a difficult situation for the first time since its launch, but the 16-nation currency will come through, German Chancellor Angela Merkel said in an interview published Thursday.Source: Yahoo! News: Business News | 25 Feb 2010 | 1:57 am Merkel: euro in difficult situation for 1st timeThe euro is in a difficult situation for the first time since its launch, but the 16-nation currency will come through, German Chancellor Angela Merkel said in an interview published...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 1:57 am Come visit the U.S. - and create jobs!Next up on the Senate's jobs-creation agenda: Lure more foreign travelers to the United States.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 1:56 am BASF posts strong 2009 fourth quarter resultsGerman chemicals giant BASF posted stronger than expected fourth quarter results on Thursday, and said the worst was over after its 2009 net profit was less than half from the previous...Source: RSS feed - channel BNewsBusiness | 25 Feb 2010 | 1:56 am Toyota recall: What took so long?Lawmakers grilled Toyota's president, Akio Toyoda, in a hearing Wednesday aimed at discovering, among other things, why the automaker was slow to respond to safety issues related to sudden acceleration.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 1:54 am Lehman Brothers settles collateral claims with JPMorgan(Reuters) - Lehman Brothers Holdings has agreed with JPMorgan Chase & Co to settle about $7.68 billion in collateral obligations that were pending following Lehman's bankruptcy filing in 2008, court documents showed.
Source: Reuters: Business News | 25 Feb 2010 | 1:54 am British Gas profits surge on low gas pricesLow wholesale gas prices helped to boost 2009 profits at British Gas, the UK's biggest energy supplier, by 58 per cent to £595 million, Centrica, the company's owner, said today. Source: Latest Business News from Times Online | 25 Feb 2010 | 1:52 am British Gas profit at record highOperating profits at British Gas jumped by 58% in 2009 to a record £595m, its parent company Centrica says.Source: BBC News | Business | World Edition | 25 Feb 2010 | 1:52 am Europe Markets: Europe mildly lower amid earnings delugeShares across Europe were lower on Thursday, with commodity-sector stocks pressuring, as investors eyed a slew of earnings from some of the region’s biggest companies.
Source: MarketWatch.com - Top Stories | 25 Feb 2010 | 1:51 am Media Digest 2/25/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Coco-Cola (KO) is close to buying its largest bottler. Reuters: Microsoft (NASAQ:MSFT) won court approve to shut down computers that spread spam and viruses. Reuters: Akio Toyota (TM) apologized to Congress from problems with Toyotas. Reuters: The Senate passed a $15 billion jobs package. Reuters: Bernanke offered a pessimistic outlook for the economy and said rates would stay low. Reuters: Blockbuster’s (NYSE:BBI) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 1:44 am Toyota faces tough road to redemption after grillingTOKYO/WASHINGTON (Reuters) - Toyota Motor Corp's president apologized to U.S. lawmakers and ended the day in tears, marking a potential climax to his company's safety crisis but leaving it with a long road to rebuild its reputation.
Source: Reuters: Business News | 25 Feb 2010 | 1:42 am India economy to bounce back: ministry (AFP)
Source: Yahoo! News: Business News | 25 Feb 2010 | 1:39 am U.S. workers unlikely to go the way of GreeceBallooning deficits, troubled banks, budget cuts and wage freezes help fuel a general strike that paralyzes much of Greece. But could it happen in the U.S.?
Source: MarketWatch.com - Top Stories | 25 Feb 2010 | 1:34 am RBS defends bonuses after £3.6bn lossRoyal Bank of Scotland has defended its controversial decision to pay bonuses despite racking up a loss of £3.6bn last year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 1:33 am FTSE 100 falls at open (AFP)
Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 1:30 am Business Bullet: Bernanke, Greece, RBS, CentricaThe latest news on: Bernanke, Greece, RBS, CentricaSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 1:21 am Bernard Madoff's daughter-in-law acts to change her nameOne of Bernard Madoff's daughters-in-law says she and her children shouldn't have to bear the burden of his name.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 1:18 am Asia Markets And Europe Open (2/25/2010)Markets in Asia were mostly lower. The Nikkei fell 1% to 10,102. The Hang Seng was off by .8% to 20,345. The Shanghai Composite was up 1.3% to 3,061. At the open, in Europe, the FTSE was down .5% to 5,318. RBS (NYSE:RBS) rose. The Dax was down .7% to 5,578. The CAC 40 dropped .7% to 3,691. Data from [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 1:13 am Toyota's problems loom large even after hearings (AP)
Source: Yahoo! News: Business News | 25 Feb 2010 | 1:02 am FBI raids 3 auto suppliers in antitrust probeThe FBI raided the U.S. headquarters of three auto suppliers as part of an antitrust investigation, the agency said Wednesday.Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Senate jobs bill a starting point for more legislationA $15-billion package is passed with the help of 13 Republicans. Now, other measures are in the works to boost hiring nationwide. ...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Groups say CalPERS, CalSTRS flout Iran divestment lawPast a state deadline for selling the investments, CalPERS hasn't sold any of its $900 million in holdings in foreign firms working in Iran's defense or energy industries. ...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Pentagon launches contest for aerial tanker contractBoeing is expected to compete against a team of Northrop and Airbus' parent company. The pact to replace the nation's aging fleet of mid-flight refueling planes could be worth $35 billion. ...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Rough road is forecast for car dealers' service departmentsJ.D. Power projects a 25% decline in revenue and 19% fewer visits for repairs and maintenance from 2009 to 2013.The service departments of auto dealers are headed for tough times.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am Ben Bernanke says record-low interest rates are still neededThe Federal Reserve chairman says the economy is recovering slowly but that the job market remains weak. Federal...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Glendale Galleria owner General Growth finds a possible rescuerMall company, second-biggest in the U.S., says Canadian firm Brookfield Asset has agreed to invest $2.5 billion in return for 30% ownership, helping it exit Chapter 11 and avert a hostile takeover. ...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Truckers lose bid for injunction against Port of L.A.The Port of Los Angeles' effort to reduce pollution and change the way cargo is hauled to and from its terminal gates survived another court battle Wednesday when a federal appeals panel refused to block...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Groups say CalPERS, CalSTRS flout Iran divestment lawPast a state deadline for selling the investments, CalPERS hasn't sold any of its $900 million in holdings in foreign firms working in Iran's defense or energy industries.More than two years after California required the sale of investments in foreign companies operating in Iran's defense and energy industries, the state's biggest public pension fund still hasn't sold any of its $900 million in holdings in those firms.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am China bolsters policing of new personal websitesApplicants will be required to verify their identities with regulators and have their photographs taken. A government ministry will review the requests. ...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Lawmakers accuse WellPoint, parent company of Anthem Blue Cross, of profiteeringAt a congressional hearing, Democrats say WellPoint has showered executives with perks as it seeks rate hikes of as much as 39% for California policyholders. ...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am Toyota president apologizes at House hearing'I fear the pace at which we have grown may have been too quick,' says Akio Toyoda, on the second day of hearings on the automaker's safety problems. ...Source: RSS feed - channel BNPaperBusiness | 25 Feb 2010 | 1:00 am New home sales tumble 11.2%The drop from December renews fears of another decline in housing prices and indicates that a home buyer's tax credit is having little effect.An unexpected drop in new home sales for the month of January, plus a plunge in mortgage applications to the lowest level in nearly 13 years, have renewed fears of another decline in housing prices.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am Ben Bernanke says record-low interest rates are still neededThe Federal Reserve chairman says the economy is recovering slowly but that the job market remains weak.Federal Reserve Chairman Ben S. Bernanke acknowledged Wednesday that the government's bulging deficits are reaching levels that are unsustainable in the long run, but he said substantial action to reduce them was probably at least two years away.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am China steps up policing of new websitesIndividuals who want to launch sites will be required to verify their identity with regulators and have a photograph taken. A government ministry will review requests.In a move that will give the government new powers to police the Internet, China will require individuals to verify their identities with regulators and have their photographs taken before they can set up a personal website.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am Pentagon launches contest for aerial tanker contractBoeing is expected to compete against a team of Northrop and Airbus' parent company. The pact to replace the nation's aging fleet of mid-flight refueling planes could be worth $35 billion.The Pentagon on Wednesday officially launched a competition to replace its aging, aerial refueling tankers. It released the requirements needed to fulfill a contract potentially worth $35 billion.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am Lawmakers accuse WellPoint, parent company of Anthem Blue Cross, of profiteeringAt a congressional hearing, Democrats say WellPoint has showered executives with perks as it seeks rate hikes of as much as 39% for California policyholders.Congressional Democrats on Wednesday accused the parent company of Anthem Blue Cross of putting profits ahead of policyholders, saying the giant insurer padded its proposed rates while lavishing generous salaries and benefits on top executives.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am Glendale Galleria owner General Growth finds a possible rescuerMall company, second-biggest in the U.S., says Canadian firm Brookfield Asset has agreed to invest $2.5 billion in return for 30% ownership, helping it exit Chapter 11 and avert a hostile takeover.General Growth Properties, owner of the Glendale Galleria and other large Southland shopping centers, said Wednesday that it had reached an agreement with a Canadian investor that would enable the mall owner to leave Chapter 11 bankruptcy protection.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am GM's sale of Hummer falls throughThe automaker says it's unable to complete a deal to sell its SUV brand to a Chinese industrial company. It plans to wind down Hummer operations, which would affect about 3,000 workers.The hulking Hummer SUV brand looks to be headed for extinction.
Source: L.A. Times - Business | 25 Feb 2010 | 1:00 am Microsoft wins court approval to topple "botnet": report(Reuters) - Software giant Microsoft Corp has won a U.S. court approval to deactivate a global network of computers that the company accused of spreading spam and harmful computer codes, the Wall Street Journal said.
Source: Reuters: Business News | 25 Feb 2010 | 12:42 am Greek losses hit Credit AgricoleCredit Agricole reports lower-than-expected quarterly profits after being hit by big losses in Greece.Source: BBC News | Business | World Edition | 25 Feb 2010 | 12:41 am Tel Italia delays results amid €2bn probeItalian telecoms group is to postpone release of its 2009 results because its Sparkle unit will not approve its own books amid a €2bn money-laundering probeSource: Financial Times - US homepage | 25 Feb 2010 | 12:40 am RBS reports loss of £3.6bnRoyal Bank of Scotland, the bank bailed out by the taxpayer, has announced a loss of £3.6bn for 2009 and said that bad loans have probably peaked.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 12:36 am RBS to pay £1.7bn in bonuses despite £3.6bn lossRoyal Bank of Scotland (RBS), which is 84 per cent owned by the British taxpayer, will pay out up to £1.7 billion in bonuses to its bankers after reporting a £3.6 billion pre-tax loss for the past financial year. Source: Latest Business News from Times Online | 25 Feb 2010 | 12:24 am Sharemarket lifts on positive earnings reportsThe New Zealand sharemarket ignored weakness in other markets to rise today as positive earnings statements flowed and the latest National Bank Business Outlook survey showed confidence at a decade high.The benchmark NZX 50 index...Source: nzherald.co.nz - Business | 24 Feb 2010 | 11:28 pm China postpones military exchanges with USChina has postponed several high-level military exchanges with the US, in the first tangible sign of retaliation over Washington’s decision to sell $6.4bn in arms to TaiwanSource: Financial Times - US homepage | 24 Feb 2010 | 11:08 pm Asia Markets: Smartphones may transform Japan's mobile marketThe rising popularity of smartphones in Japan is likely to shake up the mobile-phone industry there, helping service provider Softbank and handset-parts makers at the cost of local companies whose offerings revolve around the home-grown 'i-mode' mobile Internet service.
Source: MarketWatch.com - Top Stories | 24 Feb 2010 | 10:58 pm NZ dollar weaker as euro slidesThe New Zealand dollar was weaker today as the euro fell, taking other non-US dollar currencies along for the ride.The NZ dollar was US68.85c at 5pm from US69.38c at 8am and US69.45c at 5pm yesterday. It fell as low as US68.66c...Source: nzherald.co.nz - Business | 24 Feb 2010 | 10:17 pm Argentina urges UN chief to intervene in Falklands row (AFP)
Source: Yahoo! News: Business News | 24 Feb 2010 | 10:09 pm Simon Constable: ObamaCare taking us back to the 1970sJust when you thought policy-making couldn't get more bizarre...the President wants to revisit a disastrous economic idea that failed when it was tried in the 1970s, writes Simon Constable.
Source: MarketWatch.com - Top Stories | 24 Feb 2010 | 10:01 pm Outside the Box: Whining has become an Olympic eventIt's the height of irony, that against a backdrop of the Olympic Games, snow-capped mountains and ocean air, people were grumbling about a chain-link fence, writes Kerry Gold.
Source: MarketWatch.com - Top Stories | 24 Feb 2010 | 10:01 pm 5 Smart DVDs: Motivational Tips (SmartMedia)What makes people perform and act better? Tune in for advice.
Source: SmartMoney.com | 24 Feb 2010 | 10:00 pm 10 Things Your Spa Won't Tell You (10 Things)The truth about hydrotherapy, exfoliating and chocolate fondue wrap.
Source: SmartMoney.com | 24 Feb 2010 | 10:00 pm Roger Vogel: How to Catch LightningSilvercrest's equity-value team likes the prospects for cyclical stocks like Altra.
Source: SmartMoney.com | 24 Feb 2010 | 10:00 pm Thinking About a Tax Protest? Don't Try It (The Tax Guy)Ten frivolous antitax arguments that will only bring you trouble.
Source: SmartMoney.com | 24 Feb 2010 | 10:00 pm Rising Interest Rates: Who's Next? (Global Recovery Watch)Could Canada or Brazil make the next move? Watching the central banks.
Source: SmartMoney.com | 24 Feb 2010 | 10:00 pm A Happier Happy Hour for Your Wallet (Deal of the Day)Save on the cost of alcoholic beverages at bars and restaurants.
Source: SmartMoney.com | 24 Feb 2010 | 10:00 pm The Market Light Is Flashing Green (Active Trader)A technical tool known as MACD is telling traders to buy stocks now.
Source: SmartMoney.com | 24 Feb 2010 | 10:00 pm GM to axe Hummer after Chinese pull out of bidGeneral Motors has said it will close down Hummer, the maker of hulking off-road vehicles, after a Chinese bid for the marque collapsed.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Feb 2010 | 9:29 pm Hellaby Holdings profit up but sales revenues slipInvestment company Hellaby Holdings lifted half year net profit to $2.3 million, from $400,000 a year earlier, although sales revenues were down 7.3 per cent to $224.5m.Reporting the result today, the company said it was resuming...Source: nzherald.co.nz - Business | 24 Feb 2010 | 9:00 pm Coca-Cola close to buying bottling unitCoca-Cola is close to buying the North American operations of its largest bottler, Coca-Cola Enterprises, for more than $13bn, in a dramatic reversal to a strategy the soft-drink maker had embraced for more than 20 yearsSource: Financial Times - US homepage | 24 Feb 2010 | 8:40 pm Coca-Cola close to buying its largest bottler: sourcePHILADELPHIA/NEW YORK (Reuters) - Coca-Cola Co is in talks to buy most of its largest bottler for roughly $15 billion, including debt, marking a shift in its strategy to keep its bottling operations separate, a person familiar with the situation said on Wednesday.
Source: Reuters: Business News | 24 Feb 2010 | 7:57 pm Grape harvest to shrinkThis year's grape harvest is expected to be smaller than last season.The New Zealand Winegrowers annual pre-vintage survey shows it is expected producers will harvest around 265,000 tonnes of grapes. The 2009 and 2008 vintages...Source: nzherald.co.nz - Business | 24 Feb 2010 | 7:14 pm Obama offers olive branch to big businessPresident Barack Obama extended an olive branch to big business, calling for their co-operation in getting the US economy back on its feet and rejecting criticism that his policies amounted to ‘socialism’Source: Financial Times - US homepage | 24 Feb 2010 | 6:57 pm Mortgage servicers offer aid plan for joblessThe Mortgage Bankers Association proposed a forbearance program Wednesday aimed at helping the unemployed pay their mortgages for up to nine months.Source: Business and financial news - CNNMoney.com | 24 Feb 2010 | 6:38 pm Grim outlook from Bernanke damps rate hike talkWASHINGTON (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke told Congress on Wednesday a weak job market and tame inflation warrant low interest rates for "an extended period," curbing speculation the central bank was moving closer to raising borrowing costs.
Source: Reuters: Business News | 24 Feb 2010 | 6:34 pm Toyota President Akio Toyoda apologizes for safety lapsesHe tells a House panel that the automaker's rapid growth may have caused problems that led to recalls.Apologizing for Toyota's missteps in dealing with defects blamed in dozens of fatalities, a contrite Akio Toyoda told members of Congress that his company's rapid growth had "confused" the priority it places on safety.
Source: L.A. Times - Business | 24 Feb 2010 | 6:34 pm Port of Tauranga profits up despite freight declinePort of Tauranga, New Zealand's biggest export port, posted a 2 per cent gain in first-half profit by reining in costs as freight volumes fell, eroding revenue.Net income was $23 million, or 17.2 cents a share, in the six months...Source: nzherald.co.nz - Business | 24 Feb 2010 | 6:30 pm Apple iTunes Downloads Pass 10 BillionApple (AAPL) iTunes passed 10 billion song downloads yesterday. It is a milestone analysts had been anticipating for the last month. The consumer electronics company celebrated the accomplishment with an odometer on the firm’s home page which said “Thanks A Billion. Times Ten” The iTunes store was opened in the US in April 2003. iTunes has evolved a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Feb 2010 | 6:20 pm Company directors clash over $40 plumbing billTwo Auckland company directors are in a furious mud-slinging match over a $40 plumbing bill.Steve Taylor, director of mediation service 24-7 Limited, has set up a website attacking "cruel" Atlas Plumbing director Samantha McGaw...Source: nzherald.co.nz - Business | 24 Feb 2010 | 6:00 pm Toyota chief was unaware of acceleration problems despite years of complaintsAkio Toyoda, the president of Toyota, did not know of the problems of sudden acceleration in his company’s cars that have been linked to more than 30 deaths in the US until the end of 2009, even though thousands of complaints had been pouring into the company and regulators for years. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:33 pm Toyota chief seeks to assure lawmakersAkio Toyoda, Toyota’s chief executive, assured US lawmakers that the crisis engulfing the carmaker had taught him to put more emphasis on feedback from customers and share information more quickly among its global operationsSource: Financial Times - US homepage | 24 Feb 2010 | 5:24 pm Nintendo’s Little iPad KillerMost of the press Nintendo, the world’s No.1 video game console company, gets is for its Wii machine which has kept a lead in unit sales over the Microsoft (MSFT) Xbox 360 and Sony (SNE) PS3 for more than two years. But, the largest selling device that Nintendo makes is the DS, or dual screen, handheld which was [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Feb 2010 | 5:16 pm Elderly tax affairs 'too complex'The UK tax authority's system for dealing with older people's tax affairs is too complex and leads to people overpaying tax, MPs saySource: BBC News | Business | World Edition | 24 Feb 2010 | 5:02 pm Saving womenHow microfinance is helping some of the world's poorSource: BBC News | Business | World Edition | 24 Feb 2010 | 5:02 pm Toyota chief was unaware of acceleration problems despite years of complaintAkio Toyoda, the president of Toyota, did not know of the problems of sudden acceleration in his company’s cars that have been linked to more than 30 deaths in the US until the end of 2009, even though thousands of complaints had been pouring into the company and regulators for years. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:01 pm Not a banker in sight as the Queen takes a tour of the City of LondonThe Queen is, of course, far too well-mannered and diplomatic to suggest that the nation’s financiers should be treated as pariahs — unworthy of civilised company until they have paid back every penny of their lavish bonuses — but yesterday she managed to spend the day in the City of London without meeting a single banker. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:01 pm Police clash with strikers as EU seeks more cuts in budget crisisProtesters and police clashed in Greece yesterday as a strike against government cuts turned violent amid signs that the EU is planning to demand even greater sacrifices. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:01 pm Today’s thirtysomethings ‘must work to 70 to pay for their old age’The state pension age should be raised more rapidly than planned to meet the cost of an ageing population, according to a report published today. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:01 pm Bidders line up as HSBC puts its £2bn train set up for saleHSBC has put its train leasing company up for sale with a £2 billion price tag. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:01 pm GM to shut Hummer as Chinese quit dealGeneral Motors is to wind down Hummer after a deal to sell it to a Chinese company fell apart. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:01 pm Logica on the hunt for European graduatesLogica is to double the number of European graduates it takes on this year as it prepares for a boom in public sector outsourcing work. Source: Latest Business News from Times Online | 24 Feb 2010 | 5:01 pm Health Care, Wireless Telcos, Toll Brothers: Taking StockSource: Bloomberg - All Podcasts | 24 Feb 2010 | 4:53 pm Bernanke signals US rates to be kept lowUS interest rates would remain at exceptionally low levels for an “extended period” in spite of the “nascent” economic recovery, Ben Bernanke, Federal Reserve chairman, told CongressSource: Financial Times - US homepage | 24 Feb 2010 | 4:47 pm Toyota boss apologises for faultsToyota's boss apologises in the US safety problems that led to deaths and the worldwide recall of 8.5m vehicles.Source: BBC News | Business | World Edition | 24 Feb 2010 | 4:32 pm XT exec was already due to leaveThe Telecom executive who stepped down in the wake of the company's XT mobile network problems had only months left on his fixed-term contract.Group chief transformation officer Frank Mount, who resigned on Tuesday morning with...Source: nzherald.co.nz - Business | 24 Feb 2010 | 4:30 pm EMI bank debt battle leaves artists waryDebate over EMI Music’s ability to break new acts and market established stars effectively is critical to Terra Firma’s chances of rescuing some of its investmentSource: Financial Times - US homepage | 24 Feb 2010 | 4:27 pm Oneok Partners Raised to `Buy' at Citigroup: AudioSource: Bloomberg - All Podcasts | 24 Feb 2010 | 4:16 pm Kuczma Sees Egyptian Economy Growing: AudioSource: Bloomberg - All Podcasts | 24 Feb 2010 | 4:15 pm Nuplex reports record interim profit, Australia strongNuplex Industries today reported a record interim profit and said it is outperforming the global resin industry, in part because 40 per cent of the group's business is in Australia.Net profit after tax in the six months to December...Source: nzherald.co.nz - Business | 24 Feb 2010 | 4:00 pm Avoiding Debit-Card Fees: One Man's QuestBy Jacob Goldstein Over the years Joel Riddle has spent thousands of dollars on overdraft fees. Sometimes his bank balance is lower than he thinks. And when he uses his debit card to buy something that costs more than what he has in his account, his bank charges him a $35 fee. So Joel, who works for NPR, was happy when he learned that Bank of America started letting its customers change the way overdrafts are handled. Rather than getting charged, customers can choose to have their debit-card purchases be automatically denied when they try to buy something that costs more than they have in their account. But when he called B of A to make this change, the person he talked to on the phone started telling him that he could still be charged overdraft fees. (As it turns out, this could occur in rare cases, because certain merchants preauthorize a debit card transaction even if the customer's account contains only some minimal amount that's not enough to cover the full purchase.) Anyway, the lady on the phone kept giving Joel some weird example about buying gas. He doesn't have a car, and kept asking her for other examples, but she kept returning to the gas thing. "I felt that Bank of America was intentionally trying to confuse me," Joel said. He thought the bank was trying to get him to keep overdraft protection. Joel emailed us after he saw a story in yesterday's New York Times about how banks are trying to get customers to keep paying overdraft fees. And for good reason: Banks made some $20 billion from overdraft fees on debit purchases and A.T.M. transactions last year, according to the NYT. What's more, under a new law that takes effect this summer, overdraft purchases with debit cards will be automatically denied. People will have to sign up for overdraft protection if they want to be able to buy something that costs more than they have in their account. That means banks stand to lose a lot of the money they've been making from overdraft fees on debit-card purchases. (The new rules don't affect old-fashioned paper checks.) After we heard from Joel, we called Anne Pace, a Bank of America spokeswoman. "We are not trying to encourage customers to remain in overdraft services," she said. "What we are trying to do is ensure that customers understand the implications of opting out." In particular, she said, consumers should know that even if they opt out of overdraft protection, there may be some instances when they still wind up overdrawing their accounts and incurring a fee. Have you heard from your bank about overdraft protection? Let us know in the comments section below. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 24 Feb 2010 | 3:54 pm Greece Has Spent Half Its Modern Life in DefaultBy Alexander Hotz The prospect of Greece defaulting on its sovereign debt is a big deal these days. But in the long view, a default wouldn't be remarkable. Greece has been in default on its debt for more than half the years since 1800, according to Kenneth Rogoff, a Harvard economist. Other European countries, including Russia, Poland an Hungary, have also spent significant chunks of modern history in default. "We usually see a bunch of sovereign defaults," in the years following a banking crisis, Rogoff told the Telegraph. "I predict we will again." Rogoff spoke to Planet Money's David Kestenbaum on yesterday's podcast. In an email to Kestenbaum after their interview, he pointed to a table in his recent book, This Time Is Different, as a reminder of just how often countries default on their debt. The graphic below uses data from that table, which lists the percentage of time countries have been in default or rescheduling (a technical term explained here) on their sovereign debt. 
Note: The graph is based on the years since 1800. For countries that became independent after 1800, the data start at independence. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 24 Feb 2010 | 3:52 pm How the major stock indexes fared on Wednesday (AP)AP - Federal Reserve Chairman Ben Bernanke gave the stock market the tonic it wanted: Interest rates will stay low. Stocks rallied Wednesday and ended a two-day slide after Bernanke made his forecast during his semiannual report to Congress. He told the House Financial Services Committee he still expects rates will remain low for an extended period. Investors want to see low-cost borrowing continue to help revive the economy.Source: Yahoo! News: Stock Markets News | 24 Feb 2010 | 3:51 pm Write-Offs: 02.24.10$$$ Inmate named in extortion bid of SAC Capital: "Legal sources identified Hayim Regensberg, 44, as the inmate whom Balkany said he had spoken to about SAC. Regensberg was convicted last year of defrauding about a dozen people in a three-year long Ponzi scheme." [Matt Goldstein] $$$ How A Texan Bagged Europe [WSJ] $$$ Ex-Street big snared in domestic, SEC battles [NYP] $$$ Peter Brant admits money troubles-files Chapter 11[CTNews] $$$ AIG 'Boys Club' Under Cassano Punished Women, Ex-Workers Claim [Bloomberg] 
 Source: Dealbreaker | 24 Feb 2010 | 3:43 pm Stocks rebound as Bernanke sees rates staying low (AP)
Source: Yahoo! News: Stock Markets News | 24 Feb 2010 | 3:41 pm Sharemarket lifts in early tradeThe New Zealand sharemarket lifted in early trade, following the lead of Wall Street which was bolstered by United States Federal Reserve chairman Ben Bernanke who reaffirmed his commitment to keep interest rates low for an extended...Source: nzherald.co.nz - Business | 24 Feb 2010 | 3:34 pm PGG Wrightson gets new chair, returns to profit on weaker salesPGG Wrightson, New Zealand's biggest rural services company, named John Anderson as chairman of a revamped board and reported a modest profit on reduced spending by farmers and costs to refinance debt.Net income was $4.1 million,...Source: nzherald.co.nz - Business | 24 Feb 2010 | 3:30 pm Eddie Lampert Reads
Source: Dealbreaker | 24 Feb 2010 | 3:08 pm Bernanke tonic lifts stocks after 2-day slump (AP)AP - HOW DID BERNANKE SOOTHE THE MARKET: Investors are feeling secure, at least for now, that interest rates and borrowing costs will remain low.Source: Yahoo! News: Stock Markets News | 24 Feb 2010 | 3:02 pm Poll: Should Stephen Schwarzman Kill A Whale Today?
Source: Dealbreaker | 24 Feb 2010 | 2:52 pm Can Wal-Mart beat tech giants?Wal-Mart is trying yet again to prove that it can compete with the big boys in Silicon Valley.Source: Business and financial news - CNNMoney.com | 24 Feb 2010 | 2:50 pm iTunes: 10 billion songs laterSource: Business and financial news - CNNMoney.com | 24 Feb 2010 | 2:50 pm Silicon Valley punk'd in RussiaA high-tech delegation discovers that sunny Silicon Valley optimism is not the easiest concept to explain to Russians.Source: Business and financial news - CNNMoney.com | 24 Feb 2010 | 2:48 pm H&R Block, Garmin, Autodesk are big movers (AP)AP - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 24 Feb 2010 | 2:46 pm Stocks rise on the promise of more cheap money (Reuters)
Source: Yahoo! News: Stock Markets News | 24 Feb 2010 | 2:29 pm Anger over SA power price surgeSouth African trade unions threaten to strike as power firm Eskom is allowed to raise electricity prices by nearly 25%.Source: BBC News | Business | World Edition | 24 Feb 2010 | 2:20 pm Analyst Looking For A Cost-Benefit Analysis Of Chugging A Bottle Of Olive Oil For $2k
Update: Some added color: "He wasn't allowed to puke for an hour starting 2.5 hours ago. Still has it down, but went home, apparently not feeling too well."
Source: Dealbreaker | 24 Feb 2010 | 1:51 pm Presented By:Source: Dealbreaker | 24 Feb 2010 | 1:51 pm SEC puts new curbs on short-selling (AP)AP - Federal regulators on Wednesday imposed new curbs on the practice of short-selling, hoping to prevent spiraling sales sprees in a stock that can stoke market turmoil.Source: Yahoo! News: Stock Markets News | 24 Feb 2010 | 1:45 pm Summary Box: SEC curbs short-selling (AP)AP - WHAT THE REGULATORS DID: The Securities and Exchange Commission imposed new curbs on short-selling, or betting against a stock.Source: Yahoo! News: Stock Markets News | 24 Feb 2010 | 1:35 pm Toyota chief pledges safety changesAkio Toyoda, head of Toyota, took full responsibility for the automaker's safety problems and suggested his company got its priorities confused. Bob Moon reviews what he said at a House committee hearing.Source: Marketplace | 24 Feb 2010 | 1:00 pm Harry Markopolos On The SEC
Source: Dealbreaker | 24 Feb 2010 | 12:45 pm Ron Paul, Ben Bernanke and WatergateIs it surprising that a Congressman suggested the Federal Reserve may have funded Watergate and Saddam Hussein? Maybe not, if the Congressman is the author of a book called "End the Fed." Here's how Rep. Ron Paul put it this morning, when Ben Bernanke appeared before the House Financial Services Committee: ...it has been reported in the past that during the 1980s that the Fed actually facilitated a $5.5-billion loan to Saddam Hussein. And he then bought weapons from our military-industrial complex. And also that is when he invested in a nuclear reactor. ... Also there's been reports that the cash used in the Watergate scandal came through the Federal Reserve. And when investigators back in those years tried to find out, they were always stonewalled, and we couldn't get the information. ... would you grant that after 10 or 15 years, the American people deserve to know? Bernanke's response: Well, Congressman, these specific allegations you've made I think are absolutely bizarre. And I have absolutely no knowledge of anything remotely like what you just described. As far as the 10 years, after five years, we produce complete transcripts of every word said in the FOMC meetings. So you have every word in front of you. Paul asked if Congress can get "the results of every agreement, every single loan made." Bernanke said yes. Then Paul asked about the possibility of the Fed participating in a bailout of Greece. "We have no plans whatsoever to be involved in any foreign bailouts or anything of that sort," Bernanke said. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 24 Feb 2010 | 12:21 pm Credit Suisse Overestimating Just How Much US-Based Employees Care About Swiss Hockey Team, Underestimating How Many Will Pretend To In Order To Get Out Of Work
Source: Dealbreaker | 24 Feb 2010 | 12:20 pm Ad chiefs welcome probe into Google search businessAdvertising executives have welcomed the first antitrust inquiry into Google’s hugely profitable search advertising business, after the European Commission’s decision to launch a preliminary probeSource: Financial Times - US homepage | 24 Feb 2010 | 12:19 pm Mary Schapiro Needs Help
So the SEC voted 3-2 in favor of restricting short-selling today, at the risk of pissing off Goldman Sachs, whose head of US equity trading Paul Russo had been lobbying against the proposal for some time. However, even Mary Schapiro knows that no one can truly make a full frontal attack on GS, and mitigated the rule to take into consideration Russo's advice, deemed to be the "least harmful": trigger a circuit breaker any time a stock has dropped 10% in one day.
Source: Dealbreaker | 24 Feb 2010 | 11:07 am 8 Tax Credits You Need to Know About
This is a guest post by Manny Davis of Back Taxes Help. In 2009, many tax credits were augmented and created. Tax credits can help you lower your total tax bill and increase your chances for a tax refund. Below are some of this year’s most important tax credits. Some are new, some changed, and some became part of the American Recovery and Reinvestment Act (ARRA). For those of you who are unsure of the difference between a tax credit and a tax deduction, a tax credit lowers your total tax bill directly, whereas a tax deduction lowers your taxable income (indirectly taxes dollar for dollar), sometimes placing you in a different income tax bracket. Consumer Energy Tax Credit American Opportunity Tax Credit For existing home owners, who moved primary residences, the credit is $6,500 (individual) or $3,250 (if filing jointly) but you must have lived in the home for five consecutive years. Furthermore, it only applies for homes purchased after November 6th, 2009. Making Work Pay Tax Credit Electric Motor Vehicle and Electric Plug-In Vehicle Tax Credits Adoption Tax Credit Government Retiree Credit Earned Income Tax Credit For more details on any credit, visit IRS.gov. Bonus: Use Your Tax Refund To Buy US Series I Savings Bonds The IRS for this year’s filing will allow you to take up to $5,000 of your tax refund to buy U.S. Series I Savings Bonds in multiples of $50 by selecting this on Form 8888. If you purchase more than $250, the denominations of the bonds should get larger. Anything over $5k or that be divided by a multiple of $50 will need to be deposited into a savings/checking account. With the Federal government spending at all time highs, and with my belief that inflation is on the horizon, US savings bonds can be a very attractive hedge against inflation. Taxes on these bonds are due when redeemed but you will not be responsible for state or local taxes with these bonds. One drawback to these bonds is the fact that they cannot be redeemed until a year has passed from their issuance so be sure to check with your investment adviser.
Source: Business Pundit | 24 Feb 2010 | 10:56 am Baby steps to stem greenhouse gasesThe failure of the Copenhagen talks, a key Republican victory in the Senate and the recession have all hurt the prospects for serious cuts in U.S. greenhouse gas emissions. Where does that leave us? Sarah Gardner reports.Source: Marketplace | 24 Feb 2010 | 10:55 am Control health costs with competitionThe Obama administration is seeking to slap limits on health insurance costs in response to a premium rate hike by insurer Anthem-Blue Cross. But commentator Robert Reich argues there's a better way.Source: Marketplace | 24 Feb 2010 | 10:55 am A plan for building small homes in HaitiMany Haitians are now living in temporary dwellings after last month's earthquake, but a group in Miami has proposed a solution. Architect Andres Duany of the firm DPZ talks with Bob Moon about the quick, easy homes he's designing with manufacturer InnoVida.Source: Marketplace | 24 Feb 2010 | 10:55 am Greeks strike over austerity measuresThe Greek government has committed to make deep cuts in its public spending, but the process is not going smoothly. Greek labor unions have called for their second nationwide strike this month. Stephen Beard reports.Source: Marketplace | 24 Feb 2010 | 10:55 am Impact of Italy's ruling on GoogleThree Google executives were given 6-month suspended sentences for allowing a video of a boy being bullied to be posted on its Web site. Mitchell Hartman reports the case highlights international differences on Internet privacy.Source: Marketplace | 24 Feb 2010 | 10:55 am Will Leno return boost 'Tonight Show?'NBC is hoping the return of Jay Leno to "The Tonight Show" will help it reclaim the late-night dominance it once held. But it also has a big hole to fill at the 10 o'clock hour. Jeremy Hobson reports.Source: Marketplace | 24 Feb 2010 | 10:55 am Fed's policy not paying off for saversOn Capitol Hill, Federal Reserve Chairman Ben Bernanke said low interest rates are here to stay for awhile. The economy may need the zero percent interest rates, but they're a challenge for people looking for a little return on their savings. John Dimsdale reports.Source: Marketplace | 24 Feb 2010 | 10:54 am Jon Corzine: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 24 Feb 2010 | 10:25 am Jamie Dimon Wanted In Hotlanta
Source: Dealbreaker | 24 Feb 2010 | 10:24 am Robert Albertson: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 24 Feb 2010 | 10:23 am Peter Orszag: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 24 Feb 2010 | 10:19 am What's A Dutch Auction?If you answered "an auction that takes place in the Netherlands," you're not alone.
Source: Dealbreaker | 24 Feb 2010 | 10:15 am Could Twitter Kill Credit Cards?By Max Fisher of The Atlantic Wire A nutshell history of money might go something like: First we had barter, then hard currency, then checks and credit cards, then… Twitter? A handful of writers think that social media tools like Twitter could allow people to seamlessly, instantly, and cheaply transfer money. If it works, it would [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Feb 2010 | 9:26 am Lenhoff on Stocks; Hewin, Dumas Discuss Bernanke: First WordSource: Bloomberg - All Podcasts | 24 Feb 2010 | 9:04 am How Credit Cards Have Changed
In mid-2009, President Obama signed a consumer protection measure known as the Credit Card Act (or Credit Card Responsibility and Disclosure Act). The Credit Card Act’s main objectives include protecting consumers from unreasonable fees and penalties. Credit card companies, however, have devised other ways to extract fees from consumers despite the act, which went into effect this Monday. The Wall Street Journal has a roundup of what it now means to have a credit card: Here are the things you need to watch out for should you be tempted by any of the credit-card offers you receive: Rate increases: The new law prohibits card issuers from escalating rates during the first year. Rates cannot increase without a 45-day notice — and the opportunity for you to opt out and cancel the card. But it you’re more than 60 days late on payments, all bets are off. Annual fees: Some 35% of cards now have annual fees and a number are raising or imposing new charges for balance transfers and inactive accounts. Application fees: These are new to most people. It’s a charge for the opportunity to apply for a card, whether you get the card or not. Annual and application fees cannot exceed 25% of your credit limit. Hybrid cards: Watch out for low-fee cards that could have other high-interest charges or fees. Late fees: Many issuers are looking at tiered payments such as $29 for balances below $500 and $35 for those above $500. Over-limit fees: You have to let the card issuers know you’re willing to pay a fee should you go over your limit. If you don’t, you’ll be turned down at the cash register. Now more than ever, it helps to be a vigilant credit card consumer.
Source: Business Pundit | 24 Feb 2010 | 8:13 am Dogs and Stocks
The Research Puzzle has a good post about how picking a winning dog (a la last week’s Westminster Dog Show) is similar to picking stocks: Watching the televised coverage of the archetypes of the canine world parade around Madison Square Garden, you get caught up in the emotional aspects of the competition. Your biases show up in a hurry, from “I want one of those” to “I wouldn’t be caught dead with one of those.” In a way, it is much like our instinctive reaction to various investments. We take a natural shining to some things and don’t understand at all what others might see in that which disinterests us. At the dog show, in dulcet tones the announcer describes the breed being judged, including some hints about the personalities of the dogs that might not be noticeable at first glance. We would all be better off if someone was there to give us such advice before making our investment decisions; a little voice that said, “This one is guaranteed to break your heart,” would be nice to have. For someone who observes how decisions are made, watching Westminster leads to many questions about process. Certainly the winnowing behind the scenes (much like the screening that portfolio managers go through to get a chance to win an institutional account) would be fascinating to see, but the television coverage picks up with the semifinals, the judging of the various groups. A set routine is followed, with the judge for the group first probing the dog’s physical characteristics, then observing its gait and presentation as it shows its stuff for the crowd. (Again the echoes of manager selection are inescapable for someone who has been through that drill.)
Source: Business Pundit | 24 Feb 2010 | 7:49 am The Wide Gulf Between Wall Street and Commercial BanksBy Jacob Goldstein The number of banks in financial trouble is at a 17-year high, according to the feds. Lending is way down. But Wall Street firms are doing great, and bonuses are way up. Numbers released yesterday by the FDIC and the New York State comptroller are a reminder of the gap between the nation's commercial and savings banks (which offer checking accounts, loans and the like) and Wall Street firms (which, among other things, buy and sell stocks and bonds for themselves and their customers). As of the end of December, there were 702 banks on the FDIC's "problem list." One hundred and forty banks failed last year, and the number is likely to rise this year, the Washington Post says. Lending by banks last year fell the most since 1942, this morning's WSJ notes. Still, it wasn't all bad for the banks. Their total profits increased for the fourth quarter and for the year, compared with 2008. Their total profits for the year were $12.8 billion. That sounds like a lot of money, until you compare it to the bonuses that Wall Street firms paid their employees last year: $20.3 billion, according to the New York comptroller. The firms' profits may have topped $55 billion for the year, which would be an all-time record, the comptroller said. Why the gap? Wall Street firms' profits tend to move up and down with the markets -- and last year was a very good year for the markets. Commercial banks' profits , on the other hand, are more closely tied to the broader economy -- which, obviously, didn't fare so well last year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 24 Feb 2010 | 6:32 am Today’s Top Market Rumors (GOOG, MIL, UAUA, LCC)Updated throughout the trading day… Google Inc. (GOOG)… The European Commission has asked Google to comment on allegations by rivals it demotes their sites in its search rankings. This is partof an ongoing wave of rumors that larger antitrust issues are headed its way. Millipore Inc. (NYSE: MIL) has confirmed that it is evaluating strategic alternatives. Rumors [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Feb 2010 | 6:22 am Top 10 Analyst Upgrades and Downgrades (ADSK, STD, BBVA, BUCY, EOG, XCO, LEAP, STEC, TWX, UPL)These are this Wednesday’s top 10 analyst upgrades, downgrades, and initiations seen from Wall Street research calls early this morning: Autodesk Inc. (NASDAQ: ADSK) Raised to Buy at Needham. Banco Santander (NYSE: STD) Cut to Underweight at Barclays. Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) Cut to Underweight at Barclays. Bucyrus International (NASDAQ: BUCY) Started as Buy at Goldman Sachs. EOG [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Feb 2010 | 5:56 am If You Thought Crude Oil Was Expensive, Try Printer Cartridges
Source: Business Pundit | 24 Feb 2010 | 4:55 am Hyundai Joins The Recall ParadeHyundai has recalled 47,000 of its Sonata sedans to fix door lock problems. It does so in an environment in which American consumers are becoming more and more suspicious of the auto industry. Hyundai was the only large car company that had an increase in unit sales in the US last year. Its customer satisfaction ratings [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Feb 2010 | 3:57 am Greece Slits Its Own ThroatThe conversations about the Greek debt load and deficit focus almost exclusively on programs to get the nation to cut costs in order to balance its budget. That leaves out the revenue and receipts part of the ledger. The Greeks are in danger of making their financial situation much worse due to a series of strikes which seem [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Feb 2010 | 3:46 am
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