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Bourses regain poise as Wall Street's rebound calms nervesGlobal Markets Overview: Positive economic data from Japan and a rebound on Wall Street help equities regain their composure, though traders will be on alert for GDP updates from the UK and USSource: Financial Times - US homepage | 26 Feb 2010 | 3:18 am Shares seen up; focus on macro-economic data (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Feb 2010 | 3:06 am Indian shares lead Asian markets higherAsian markets ended mostly higher Friday, with Indian shares cheering federal budget proposals to cut the fiscal deficit and ease the tax burden on individuals, while Japanese stocks gained on better-than-expected industrial-output data.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 3:03 am Japan Airlines reports huge lossJapan Airlines, which entered bankruptcy protection last month, announces massive losses for the last nine months of 2009.Source: BBC News | Business | World Edition | 26 Feb 2010 | 3:02 am Economic Report: U.K. fourth-quarter GDP revised higherThe British economy expands by an upwardly revised 0.3% in the final three months of 2009.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 3:02 am Crude oil prices drift down (AFP)
Source: Yahoo! News: Business News | 26 Feb 2010 | 2:58 am 3 ways to find bargain stocks nowA year ago, when all sorts of investments -- stocks, bonds, commodities -- were being tossed on the scrap heap, dyed-in-the-wool bargain hunters who had the courage to sift through the market's ruins were richly rewarded.Source: Business and financial news - CNNMoney.com | 26 Feb 2010 | 2:56 am The Car Industry Is In As Much Trouble As ToyotaToyota’s (TM) sales in the US market are supposed to fall and some of its large rivals like Ford (F) and Honda (HMC) are supposed to benefit from customers who will no longer consider products from the No.1 car company in the world. February will be the first barometer of whether that theory is right. It [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Feb 2010 | 2:55 am Japanese economic data improvesJapan's retail sales rose in January for the first time in 17 months, figures show, and industrial output increased.Source: BBC News | Business | World Edition | 26 Feb 2010 | 2:54 am Lloyds losses fail to derail FTSE rallyLondon's FTSE 100 bounced on Friday, reclaiming much of the ground lost in the previous session as miners gained support from rallying metals, but results from Lloyds Banking Group were poorly received...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 2:51 am Net1 Announces Acquisition of South African Third Party Payroll ProcessorSource: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 2:51 am Employees of the world, unite!There's a revolution going on, one that should give heart to everyone who actually works for a living. The vanguard marches toward us, arm in arm, united in the struggle for their share of the American dream. Here they come in gray twill and wingtips! They carry not guns but spreadsheets and notebook computers running Excel. They are warriors in the fields of Finance, and they labor not on farms or in factories but in the banks that hold our money and our loans. Godspeed to them! For they fight the good fight now for wage slaves everywhere!Source: Business and financial news - CNNMoney.com | 26 Feb 2010 | 2:50 am UK 4th quarter economic growth revised up (AP)AP - British economic growth in the final quarter of 2009 has been revised upward to 0.3 percent, confirming the country's exit from recession.Source: Yahoo! News: Business News | 26 Feb 2010 | 2:46 am UK economy emerged from recession quicker than thoughtThe UK economy emerged from recession more quickly than first estimated, new figures showed today.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Feb 2010 | 2:46 am UK economic growth revised higherThe UK economy grew by 0.3% in the final three months of last year, faster than previously thought, figures show.Source: BBC News | Business | World Edition | 26 Feb 2010 | 2:45 am Shares seen up; focus on macro-economic data(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rise 0.1 to 0.3 percent, pointing to a rise on Wall Street on Friday, the last trading day of the month.
Source: Reuters: Business News | 26 Feb 2010 | 2:45 am Hired! $170 ad campaign got him a jobStanding out in a sea of job seekers can seem nearly impossible in this economy -- unless you craft a unique approach that potential employers can't help but notice. That's the strategy that worked for Doug Winfield. When the Boston-native moved to Seattle for a job at a public relations firm, he never anticipated it would be so short lived. But after less than two years with the company, drastic cutbacks left Winfield, 47, out in the cold last year.Source: Business and financial news - CNNMoney.com | 26 Feb 2010 | 2:40 am Britain steps firmly out of recession as growth is revised up to 0.3%Britain emerged from recession with stronger growth than previously recorded, in what will be seen as a boost to Labour ahead of the general election. Source: Latest Business News from Times Online | 26 Feb 2010 | 2:39 am I Owe WhoWho has lent all this money to Britain?Source: BBC News | Business | World Edition | 26 Feb 2010 | 2:38 am Lloyds losses narrow to £6.3bnPartly state-owned bank says impairment charges rose 61% to £24bn but repeats its belief that bad loan charges peaked in the first half of 2009Source: Financial Times - US homepage | 26 Feb 2010 | 2:36 am Economic Report: U.K. house prices fall 1% in February: NationwideBritish house prices end a nine-month string of monthly increases amid rough weather and the expiration of a tax break.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 2:30 am Bourses regain poise as Wall Street's rebound calms nerves09:20 GMT. Bourses in Europe and Asia regained their composure at the end of a volatile week as positive economic data out of Japan and a rebound on Wall Street calmed nerves. The foreign exchange...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 2:29 am Asia stocks gain amid strong Japan data; Europe up (AP)
Source: Yahoo! News: Stock Markets News | 26 Feb 2010 | 2:28 am Asia stocks gain amid strong Japan data; Europe up (AP)
Source: Yahoo! News: Business News | 26 Feb 2010 | 2:28 am /C O R R E C T I O N from Source -- Thompson Creek Metals Company Inc./Source: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 2:22 am William Hill profits take a diveBookmaker William Hill reports a big slump in full-year profits, partly due to accounting charges.Source: BBC News | Business | World Edition | 26 Feb 2010 | 2:21 am Bayer Q4 net income up 44 percent (AP)AP - German chemical and pharmaceutical company Bayer AG said Friday its net income rose 44 percent in the fourth quarter to euro153 million ($208 million) as cost savings and a pickup in some business offset negative currency effects and charges for the integration of Schering.Source: Yahoo! News: Business News | 26 Feb 2010 | 2:18 am Stocks firmer; euro zone yields fall (Reuters)
Source: Yahoo! News: Business News | 26 Feb 2010 | 2:17 am GM revisiting previous bidders for HummerDETROIT/HONG KONG (Reuters) - General Motors has approached previous potential bidders for its Hummer unit after a deal to sell the brand to an obscure Chinese firm collapsed, a source with knowledge of the matter said on Friday.
Source: Reuters: Business News | 26 Feb 2010 | 2:12 am GM revisiting previous bidders for Hummer (Reuters)
Source: Yahoo! News: Business News | 26 Feb 2010 | 2:12 am Lloyds Banking Group in full year profit of $4.3B (AP)AP - Lloyds Banking Group PLC on Friday reported a full-year net profit of 2.8 billion pounds as a goodwill gain helped offset soaring impairment charges.Source: Yahoo! News: Business News | 26 Feb 2010 | 2:08 am India to review economy stimulusIndia's government unveils its annual budget, saying that stimulus measures introduced to boost growth must be reviewed.Source: BBC News | Business | World Edition | 26 Feb 2010 | 2:04 am Europe Markets: Commodity-sector stocks lead gains for EuropeShares climb in Europe on Friday, taking back some sharp losses made in the previous session when worries about Greece’s fiscal health dominated.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 2:03 am Lloyds posts loss as impairments begin to recedeLloyds Banking Group said Friday that impairment charges to cover bad loans have started to retreat as it chalked up a net loss of around 4.3 billion pounds ($6.6 billion) in the second half of 2009.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 2:03 am Lloyds posts $9.6 billion 2009 loss, bad debts soarLONDON (Reuters) - Lloyds , Britain's largest retail bank, shrank its losses in 2009, despite a 24 billion pounds ($37 billion) hit from loans that soured, mostly assets inherited from rival HBOS, which it bought last year.
Source: Reuters: Business News | 26 Feb 2010 | 2:01 am The Conference Board Leading Economic Index(R) (LEI) for the Euro Area Increases Again in JanuarySource: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 2:00 am Grinding Japan deflation may trigger more BOJ actionTOKYO (Reuters) - Japan's narrowest measure of consumer inflation matched a record annual fall in January in a sign weak demand will prolong deflation and may prompt the Bank of Japan to...Source: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 1:58 am Grinding Japan deflation may trigger more BOJ actionTOKYO (Reuters) - Japan's narrowest measure of consumer inflation matched a record annual fall in January in a sign weak demand will prolong deflation and may prompt the Bank of Japan to expand its supply of funds to the market by mid-year.
Source: Reuters: Business News | 26 Feb 2010 | 1:58 am Strong growth in Q4 likely to slow throughout 2010 (AP)
Source: Yahoo! News: Business News | 26 Feb 2010 | 1:56 am AIG to take a big hitAfter two straight profitable quarters, AIG is expected to report a substantial loss for the fourth quarter when the troubled insurer announces its latest financial results Friday morning.Source: Business and financial news - CNNMoney.com | 26 Feb 2010 | 1:55 am The Drug Lords, The Men Who Run The Global Phamaceutical IndustryThere are twelve major pharmaceutical firms that dominate this industry worldwide. Their combined market value is over $1 trillion with aggregate annual sales of over $500 billion. The firms have developed and marketed most of the global blockbuster drugs. Most of the significant actions take by the FDA and other drug and medical device regulatory bodies involve [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Feb 2010 | 1:54 am Stocks cut lossesStocks ended with modest losses Thursday, fighting off a bigger decline that surrounded the latest worries about Greece's debt crisis and weaker-than-expected reports on the economy.Source: Business and financial news - CNNMoney.com | 26 Feb 2010 | 1:53 am Auto sales: Weakness beyond ToyotaToyota's troubles are likely to get the most attention when automakers report February sales Tuesday. But the Japanese automaker's pain isn't likely to translate into big gains for its rivals.Source: Business and financial news - CNNMoney.com | 26 Feb 2010 | 1:53 am Media Digest 2/26/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Akio Toyoda met with Transportation Secretary LaHood. Reuters: Lloyds posted huge loss driven by bad debts. Reuters: A job creat effort is hung up in Congress again. Reuters: Blackstone (BSX) got commitments for its fund in China. Reuters: Toyota (TM) will miss its North American output goal. WSJ: Hedge funds are making large bets against the euro. WSJ: Greece will delay its bond [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Feb 2010 | 1:51 am Mark Hulbert: Neither overvalued nor undervaluedThe stock market is not extremely cheap by historical standards, writes Mark Hulbert, but it is not extremely overvalued, either.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 1:51 am Lloyds slumps to £6.3bn loss as bad debts balloonLloyds Banking Group become the second state-owned bank in as many days to announce a multi-billion pound loss.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Feb 2010 | 1:50 am FACTBOX-Market share of top Australian wealth managersSYDNEY, Feb 26 (Reuters) - National Australia Bank , the country's top lender and wealth manager and No.2 wealth manager AMP Ltd are involved in a takeover tussle for AXA Asia Pacific , a unit of France's...Source: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 1:44 am House prices fall 1% in first drop for 10 monthsHouse prices in the UK went into reverse in February, bringing to an end nine consecutive months of price rises, Nationwide said in the building society's monthly survey of the market. Source: Latest Business News from Times Online | 26 Feb 2010 | 1:34 am Soros bullish on Yahoo turnaroundMore than quadruples stake in Internet company.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 1:34 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 | 26 Feb 2010 | 1:31 am Asia Markets And Europe Open (2/26/2010)Markets in Asia were mixed. The Nikkei was up .2% to 10,128. Toyota (TM) rose slightly. The Hang Seng was up 1% to 20,609. China Unicom (CHU) rose The Shanghai Composite was down .3% to 3,052. At the open, the FTSE was up 1% to 5,330. The Dax rose .7% to 5,571. The CAC 40 was up .9% to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Feb 2010 | 1:26 am UPDATE 1-Metro denies report about plans to buy M.videoMOSCOW/FRANKFURT, Feb 26 (Reuters) - German retailer Metro denied a newspaper report on Friday that its consumer electronics business, Media Saturn, is in talks to buy Russian electronics retailer M.video...Source: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 1:23 am Economic Report: India's vow to tighten budget deficit lift marketsIndia's finance minister announces plans to cut the budget gap to 5.5% of the total economy by raising some indirect taxes. Stocks and the rupee jump on the news, even in the face of disappointing economic growth numbers released earlier in the day.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 1:16 am UPDATE 2-GE talks to Santander over Garanti stake -reportsISTANBUL, Feb 26 (Reuters) - General Electric Co is in talks with Spain's Banco Santander to sell its 20.85 percent stake in Turkey's largest listed lender Garanti Bank , Turkish media reports said on...Source: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 1:07 am Business Bullet: Australia, Oil & Gold; Lloyds, Wm. HillThe latest news on: Australia, Oil & Gold; Lloyds, Wm. HillSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Feb 2010 | 1:06 am Lloyds posts £6.3bn loss for 2009Lloyds Banking Group reports an operating loss of £6.3bn for 2009, after struggling with billions of pounds of bad loans.Source: BBC News | Business | World Edition | 26 Feb 2010 | 1:00 am Tetragon Financial Group Limited Dividend AnnouncementSource: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 1:00 am Increasing use of temps no longer signals more permanent hiringCompanies have hired more temporary workers for four straight months, but analysts say employers lack confidence that the economic rebound has staying power. ...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am When customers yelp, everyone can hear itOnline reviews play a key role in local businesses' reputations. Owners are taking note -- and often action.Hollywood transplant Caroline White figured a spa outing would be the perfect way to welcome her visiting mother to Los Angeles.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am 'The Crazies' ready to go nutsHorror remake could top 'Cop Out' and last weekend's box office No. 1, 'Shutter Island.' What once looked like...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am Incentives to rise for home solar arraysA new law will double the cap on how much energy customers can sell back to utilities.At least 10 times a day Andrew Kin clicks onto the Internet for the pure joy of watching his electricity meter run backward.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am Initial jobless claims rise; orders and shipments of durable goods slipFirst-time filings for unemployment benefits rose by 22,000 last week, to 496,000. In California, however, initial claims show the deepest drop. New orders for durable goods fell 0.6% in January. ...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am 'Up to' claims for Internet connection speeds next to worthlessProviders promise maximum transfer rates, but actual speeds may be as much as 80% slower during peak periods.When it comes to high-speed Internet access, are you getting what you pay for?
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am When customers yelp, everyone can hear itOnline reviews play a key role in local businesses' reputations. Owners are taking note -- and often action. Hollywood...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am Lawmakers just getting started on scrutiny of ToyotaMore hearings examining the automaker and the agency that oversees it are planned in coming weeks, and legislation to beef up regulation is likely.Akio Toyoda's moment in the national spotlight may be over, but Washington is just getting started.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am Safeway posts losses for the quarter and fiscal yearThe grocery operator lost $1.61 billion, or $4.06 per share, in the quarter and $1.1 billion, or $2.66 per share, in the full year. Its CEO calls food price deflation 'unprecedented.' ...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am Increasing use of temps no longer signals more permanent hiringCompanies have hired more temporary workers for four straight months, but analysts say employers lack confidence that the economic rebound has staying power.It's not the signal it used to be. When employers hire temporary staff after a recession, it's long been seen as a sign they'll soon hire permanent workers.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am Kohl's, Gap report strong sales, big profit jumpsTotal fourth-quarter sales rise 8.5% at Kohl's and 3.9% at Gap, compared with the same period a year earlier.Kohl's Corp., the mid-priced department store chain that has been aggressively grabbing market share, and apparel retailer Gap Inc., which is in the midst of a turnaround, both reported strong sales as well as double-digit profit gains for the fourth quarter.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am Fed investigating Wall Street banks' dealings with Greece, Bernanke saysGoldman Sachs and others played a role in and some say profited from the nation's debt crisis.Federal Reserve Chairman Ben S. Bernanke revealed Thursday that the central bank was examining financial deals that Goldman Sachs and other banking companies made with Greece before its debt crisis erupted, creating potentially more public relations troubles for Wall Street firms.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am 'Up to' claims for Internet connection speeds next to worthlessProviders promise maximum transfer rates, but actual speeds may be as much as 80% slower during peak periods. ...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am Wal-Mart to slash greenhouse gas emissionsThe retailing giant says it will cut 20 million metric tons, or the equivalent of what nearly 4 million cars emit in a year, from the life cycle of its products by the end of 2015. ...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am Initial jobless claims rise; orders and shipments of durable goods slipFirst-time filings for unemployment benefits rose by 22,000 last week, to 496,000. In California, however, initial claims show the deepest drop. New orders for durable goods fell 0.6% in January.As the economy struggles to recover, there were two discouraging bits of news Thursday: Initial jobless claims rose last week, and shipments and new orders of durable goods showed weakness in January.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am Incentives to rise for home solar arraysA new law will double the cap on how much energy customers can sell back to utilities. At least 10 times a day...Source: RSS feed - channel BNPaperBusiness | 26 Feb 2010 | 1:00 am California to put Reagan office building up for saleThe downtown L.A. building is one of two dozen the state plans to sell, then lease back. Proceeds will be used to pay off some of California's long-term debt.Two dozen state office buildings across California officially go on sale Friday as the cash-strapped state seeks to raise more than $2 billion to pay off some of its long-term debt.
Source: L.A. Times - Business | 26 Feb 2010 | 1:00 am Pompey ready for administrationPortsmouth have been labelled as "dysfunctional" as they prepare to become the first Premier League club to enter administration.Source: BBC News | Business | World Edition | 26 Feb 2010 | 12:59 am Former Och-Ziff executive plans China PE fund -WSJFeb 26 (Reuters) - A former managing director of U.S. hedge fund Och-Ziff Capital Management Group is looking to raise about $500 million for a private equity fund focusing on China, the Wall Street Journal...Source: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 12:59 am Former Och-Ziff executive plans China PE fund -WSJFeb 26 (Reuters) - A former managing director of U.S. hedge fund Och-Ziff Capital Management Group is looking to raise about $500 million for a private equity fund focusing on China, the Wall Street Journal...Source: RSS feed - channel BNewsBusiness | 26 Feb 2010 | 12:59 am Big in Japan?Eco-friendly fish in the land of the rising sunSource: BBC News | Business | World Edition | 26 Feb 2010 | 12:50 am Southern Water to raise charges in the summerSouthern Water is to be the first utility company to charge extra to supply its customers in the hot summer months. Source: Latest Business News from Times Online | 26 Feb 2010 | 12:46 am Losses at taxpayer-owned Lloyds swell to £6.3bn on bad debtsLloyds Banking Group today revealed a loss of £6.3 billion for last year as its bad debts swelled to £24 billion after the lender was forced to write down the value of poor investments made by HBOS. Source: Latest Business News from Times Online | 26 Feb 2010 | 12:39 am Lloyds slumps to £6.3bn lossLloyds Banking Group, the owner of Britain's biggest mortgage lender, slumped to a loss of £6.3bn last year as the recession forced it to write down bad loans.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Feb 2010 | 12:27 am European Stocks to Watch: When it rains, it pours on Spanish banksAs Spaniards cast their eyes upwards, wondering just when the record-breaking wet winter is going to ease up, so must the country’s biggest banks be wondering when financial markets are going to stop raining down on their share prices.
Source: MarketWatch.com - Top Stories | 26 Feb 2010 | 12:15 am UK house prices 'lose momentum'UK house prices fell for the first time in 10 months in February as icy weather puts off house hunters, Nationwide says.Source: BBC News | Business | World Edition | 26 Feb 2010 | 12:03 am Oz stocks: Investors optimisticThe Australian share market ended firmer on Friday, the final day of the month-long corporate profit reporting season, as most financial and resources stocks gave the bourse support.Brokers said investors were upbeat, despite...Source: nzherald.co.nz - Business | 26 Feb 2010 | 12:03 am IEA warns of return to oil price volatility (AFP)
Source: Yahoo! News: Business News | 25 Feb 2010 | 11:43 pm NZ stocks : Little change on FridayThe New Zealand sharemarket had plenty of information to trade off today from corporate earnings but managed to end little changed in line with tepid markets offshore.The benchmark NZX-50 index closed up 4.416 points, or 0.14...Source: nzherald.co.nz - Business | 25 Feb 2010 | 11:29 pm January home sales data expected to show increase (AP)
Source: Yahoo! News: Business News | 25 Feb 2010 | 11:24 pm Seven killed as blast rocks central KabulA blast followed by gunfire echoed through the centre of Kabul, shaking windows and sending a cloud of grey smoke rising above rooftopsSource: Financial Times - US homepage | 25 Feb 2010 | 10:46 pm Would Ticker by Another Name Do the Same? (Money and Your Mind)The case for stocks with symbols that are easily pronounced.
Source: SmartMoney.com | 25 Feb 2010 | 10:00 pm PM: Super rise to match GSTIf GST rises in the upcoming budget then superannuation payments would immediately rise by 2 per cent in addition to any tax cuts that would apply, Prime Minister John Key said today.The Government is considering lifting GST from...Source: nzherald.co.nz - Business | 25 Feb 2010 | 9:58 pm Blackstone nails down some commitments to China fundHONG KONG/NEW YORK (Reuters) - Buyout giant Blackstone has nailed down three commitments so far to its landmark yuan-denominated fund for China, with the country's national pension fund expected to be a major investor.
Source: Reuters: Business News | 25 Feb 2010 | 9:43 pm Bernanke wants answers on Goldman role in GreeceWASHINGTON (Reuters) - U.S. regulators are probing how Wall Street firms like Goldman Sachs helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.
Source: Reuters: Business News | 25 Feb 2010 | 8:48 pm Toyoda meets with LaHood, thanks workers at plantWASHINGTON (Reuters) - Toyota Motor Corp President Akio Toyoda had a "cordial and open" meeting on Thursday with Transportation Secretary Ray LaHood before thanking workers in Kentucky for supporting him during his appearance before Congress.
Source: Reuters: Business News | 25 Feb 2010 | 8:25 pm See the U.S.A.: Senate OKs tourism billNext up on the jobs-creation agenda: Lure more foreign travelers to the United States.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 7:31 pm California subpoenas big health insurers' financial recordsProsecutors are seeking documents from Anthem, Aetna, Cigna, Blue Shield, Kaiser, Health Net and PacifiCare in a probe of whether they raised rates illegally and denied payment of legitimate claims.The California state attorney general's office said Thursday that it had subpoenaed financial records of California's seven largest health insurance companies as part of an investigation into whether they illegally raised customer premiums and denied payment of legitimate claims.
Source: L.A. Times - Business | 25 Feb 2010 | 6:31 pm Surprise January trade surplus recordedThe merchandise trade balance for January 2010 was a surplus of $269 million, Statistics New Zealand said today."As a percentage of exports this is the biggest trade surplus for a January month since 1989," a spokesperson said....Source: nzherald.co.nz - Business | 25 Feb 2010 | 6:30 pm Google hits back over algorithm disputeThe internet company mounts a renewed defence of the way it ranks search results, amid fresh questions about its practice of sometimes manually overriding its automated ranking systemSource: Financial Times - US homepage | 25 Feb 2010 | 6:20 pm Doctors threaten Medicare backlashWith a 21% cut to Medicare reimbursement rates set to take effect Monday, the nation's largest physician organization has informed its members about their options -- which include shutting off practices to new Medicare patients.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 6:11 pm Vector profit up 11.6pc on lower debt costsVector, New Zealand's biggest gas and electricity distributor, posted an 11.6 per cent gain in first-half profit to $101.3 million as the company reduced debt, lowered expenses and its network revenues showed resilience to recessionary...Source: nzherald.co.nz - Business | 25 Feb 2010 | 6:00 pm Apple's Jobs says cash hoard allows for bold movesCUPERTINO, California (Reuters) - Steve Jobs defended Apple Inc's decision to maintain a $40 billion cash pile and said it was better to save the money for bold risks, like acquisitions, than to spend it on stock buybacks or cash dividends.
Source: Reuters: Business News | 25 Feb 2010 | 5:28 pm Goldman role in Greek crisis probedThe US central bank is looking into Goldman Sachs’s role in arranging contentious derivatives trades for Greece, which helped the country to massage its public finances, Ben Bernanke, chairman of the Federal Reserve, revealedSource: Financial Times - US homepage | 25 Feb 2010 | 5:28 pm Bickering mars US healthcare reform summitAny hopes for reaching cross-party agreement at President Barack Obama’s healthcare summit were soon dashed, when Republicans and Democrats quickly descended into bickering over whether reform would raise health insurance premiums.Source: Financial Times - US homepage | 25 Feb 2010 | 5:22 pm Can this 29-year-old afford a new Lexus?Question: I'm 29 years old, earn $75,000 a year and have $130,000 in my 401(k), $5,000 in a Roth IRA and $50,000 in a savings account for emergencies. I save roughly 15% of my salary each year for retirement. I currently drive a seven-year-old Honda that's fully paid off, but I've been thinking buying about a new Lexus that would cost $43,000. I'm not sure I can afford it, though. I would put $15,000 down, which I have in separate savings, and finance the rest with a three-year loan. But that would leave me with a rather high monthly payment, so I'm wondering if I'd be better off saving more for a larger down payment or taking out a five-year loan instead. What do you recommend? --Y.S., Philadelphia, PennsylvaniaSource: Business and financial news - CNNMoney.com | 25 Feb 2010 | 5:07 pm Short Sellers Attack Buffett Holdings (BRK-B, BRK-A, AXP, BAC, BDX, KMX, KO, CMCSA, COP, COST, XOM, GCI, GE, GS, GSK, HD, IR, IRM, JNJ, KFT, LOW, MCO, NLC, NKE, PG, RSG, SNY, STI, TMK, TRV, USG, UNH, UPS, WMT, WPO, WFC, WLP, WSC)Short selling is seen for many reasons, but universally traders tend to track short selling to track the biggest changes in the short interest twice each month. Whether these are hedges, forward delivery trades, or just raw short sales, the trend is generally viewed as a bet against the overall market. During the month of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 5:05 pm BBC signals an end to era of expansionThe BBC will close two radio stations, shut half its website and cut spending heavily on imported American programmes in an overhaul of services to be announced next month. Source: Latest Business News from Times Online | 25 Feb 2010 | 5:01 pm Business big shot: Paul Pindar, chief executive of CapitaUnlike his predecessor, the chief executive of Capita finds it funny that Private Eye calls Britain’s biggest outsourcing company “Crapita”. Source: Latest Business News from Times Online | 25 Feb 2010 | 5:01 pm Britain is facing £220m bill after pact to rescue Airbus projectBritish taxpayers are expected to be hit with a £220 million bill for new military transport aircraft after the project ran over-budget and was severely delayed. Source: Latest Business News from Times Online | 25 Feb 2010 | 5:01 pm British Gas customers 'fleeced' for record profitsBritish Gas was accused last night of fleecing millions of poor and vulnerable customers as the company announced record-breaking profits of £595 million last year — more than £1.6 million a day. Source: Latest Business News from Times Online | 25 Feb 2010 | 5:01 pm Three more Japanese firms recall half a million carsNissan, Suzuki and Daihatsu have issued significant vehicle recalls because of problems with their electronics — the area that some believe to be the unresolved fault with Toyota cars. Source: Latest Business News from Times Online | 25 Feb 2010 | 5:01 pm Bank loses £3.6bn – but finds £1.3bn to pay bonusesMore than 100 bankers at Royal Bank of Scotland will take home bonuses of at least £1 million even though RBS, 84 per cent-owned by the taxpayer, made a £3.6 billion loss last year. Source: Latest Business News from Times Online | 25 Feb 2010 | 5:01 pm Youth rates bill struggling for supportThe issue of youth rates is again in the headlines after a bill to re-introduce them was drawn from a parliamentary ballot this week.Youth rates were abolished in 2008 under the Labour Government. Employers could pay those staff...Source: nzherald.co.nz - Business | 25 Feb 2010 | 5:00 pm Deal on financial reform bill near in SenateWASHINGTON (Reuters) - A bipartisan agreement on financial regulation reform was close at hand on Thursday in the Senate, with lawmakers working to overcome a key obstacle -- creating a new financial consumer watchdog.
Source: Reuters: Business News | 25 Feb 2010 | 4:58 pm Trump takes the stand in bid for namesake casinosCAMDEN, New Jersey (Reuters) - Celebrity real estate developer Donald Trump, optimistic about a casino comeback, took the stand in U.S. bankruptcy court on Thursday to fight for control of the three Atlantic City hotel-casinos bearing his name.
Source: Reuters: Business News | 25 Feb 2010 | 4:35 pm Air NZ profits double on lower fuel costsAir New Zealand, the state-controlled national carrier, reported first-half profit almost doubled as fuel costs tumbled and the airline reined in labour costs.Net income rose to $56 million, or 6 cents a share, in the six months...Source: nzherald.co.nz - Business | 25 Feb 2010 | 4:30 pm Rich-lister's heritage battleOne of New Zealand's richest men is fighting a legal battle for his rights around demolition and rebuilding in heritage zones.John Spencer, patriarch of a Rich List family with an estimated $675 million, owns 16 sections near...Source: nzherald.co.nz - Business | 25 Feb 2010 | 4:30 pm Nike Added to `Conviction Buy' at Goldman Sachs: AudioSource: Bloomberg - All Podcasts | 25 Feb 2010 | 4:19 pm Stocks fall on renewed concerns about economy (AP)
Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 4:15 pm Write-Offs: 02.25.10$$$ A little more info on the changes at Pirate/Captain Jack/Doubloon Capital we've been writing about. [WSJ] $$$ Bonus Watch: RBS [Guardian] $$$ The Street's jobless recovery [Reuters] $$$ Jon Corzine To CNBC? [HuffPo] 
 Source: Dealbreaker | 25 Feb 2010 | 4:10 pm How the major stock indexes fared on Thursday (AP)AP - Stocks backtracked from an early plunge Thursday but still closed lower on concerns about lingering economic weakness in the U.S.Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 4:06 pm Financial crisis panel to call back bank chiefsThe commission set up by the US Congress to probe the causes of the 2008 financial market meltdown will interview foreign regulators and put bank executives back on the witness standSource: Financial Times - US homepage | 25 Feb 2010 | 4:00 pm Correction: Citi Loves The Gays
Source: Dealbreaker | 25 Feb 2010 | 4:00 pm 5 new tax breaks you don't want to missTax season is upon us. And while nobody likes shelling out their hard-earned dollars to the IRS, this year the government is offering up some new opportunities that could save you big money. As part of the American Recovery and Reinvestment Act, or stimulus bill, Congress introduced several new tax goodies that could help millions of Americans save -- as long as they know to claim them.Source: Business and financial news - CNNMoney.com | 25 Feb 2010 | 3:51 pm Icesave repayment talks collapseThe Icelandic government said on Thursday that talks with the UK and the Netherlands had broken down after a failure to reach an agreement over compensation following the collapse of Icesave.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 3:49 pm A Sign You've Truly Arrived
VEJAZZLING! [mobliving via Daily Intel]
Source: Dealbreaker | 25 Feb 2010 | 3:45 pm Land Securities in City tower talksLand Securities is talking to contractors about the cost of building its proposed "Walkie-Talkie" tower - a significant step towards starting work on the mothballed project.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 3:44 pm Diageo and Bacardi at war over rum distilleryDiageo launched a scathing attack on rival Bacardi as the two drinks groups went to war over rum supremacy in America and a $2.7bn (£1.75bn) tax rebate from the US Virgin Islands.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 3:34 pm NZ sharemarket down earlyShares in healthcare equipment supplier Ebos rose strongly early, despite ending unchanged yesterday after reporting a 38 per cent rise in half year profit as sales grew and costs fell.Ebos shares were up 23c, or 3.9 per cent,...Source: nzherald.co.nz - Business | 25 Feb 2010 | 3:34 pm Auckland Airport reports 5pc profit liftAuckland International Airport's half year net profit rose 4.7 per cent to $54 million, when effects of previous property valuation changes are excluded, as passenger numbers rose but aircraft movements fell.Total revenue dropped...Source: nzherald.co.nz - Business | 25 Feb 2010 | 3:30 pm Stocks backtrack but still fall on economic fears (AP)AP - WHAT BROUGHT STOCKS BACK: Investors put aside some of their worries that Greece's debt problems will spill over to other countries. That allowed the Dow Jones industrials to come back from a triple-digit deficit to finish down 53.Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 3:29 pm Freeview boss Ilse Howling: It's time to take HDTV mainstreamFreeview's new high definition (HD) service - carefully timed to launch before this summer's football World Cup - will bring HD television to the masses, says boss Ilse Howling.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 3:23 pm US states struggle in the shadow of GreeceAs protesters and strikers took to the streets of Athens this week demonstrating against cutbacks aimed at stemming the Greek debt crisis, questions were being asked in the US about whether similar financial stress could erupt in states thereSource: Financial Times - US homepage | 25 Feb 2010 | 3:06 pm Analysis: RBS investment arm made more money than the rest of the bank combinedIf Royal Bank of Scotland is to stand any chance of repaying the billions of pounds handed to it by the UK taxpayer since its rescue in 2008 then the bank's annual results made clear it will need its investment banking business to be firing on all cylinders.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 2:56 pm SEC Kicking Things Up A NotchAs you might have figured out, the SEC can't do anything right besides ranking the best top 10 porn sites, and relies on "crazy-brave" people to go after gangsters and do all the legwork for them. Today, though, the agency really showed some initiative by charging Madoff's director of operations, Daniel Bonventre, with some wrongdoing, more than a year after the Ponzi saga started.
Source: Dealbreaker | 25 Feb 2010 | 2:49 pm Questor share tip: Buy BAT - times are still too tough to think of giving up smokingTobacco companies are the ultimate defensive stock. A recession rarely comes between a smoker and his or her cigarettes and Thursday's strong trading figures showed British American Tobacco (BAT) is no exception to that rule.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Feb 2010 | 2:48 pm Coca-Cola, Blockbuster, Fifth Third are big movers (AP)AP - Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 2:43 pm VMware Buying Part of EMC: When Son Buys From Dad (VMW, EMC)You have to always wonder a bit when a partial spin-out makes a deal to acquire software products from its parent company. After the close of trading came word that VMware, Inc. (NYSE: VMW) entered into a definitive agreement for VMware to acquire certain software products and expertise from EMC Corp. (NYSE:EMC) for its Ionix [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 2:22 pm SEC examines destabilizing effects of CDS (Reuters)Reuters - Securities regulators said on Thursday they are examining the potential abuses and destabilizing effects of credit default swaps, a financial instrument that can be used to speculate on an issuer's credit worthiness.Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 2:19 pm Caesars' Upcoming Tourney Is One Sweet Deal
But let's talk about what really matters...the prizes. How do you like $30,000 cash, guaranteed? (Nice!) And, for the first place winner, a seat at the World Series of Poker 2010 Main Event in Las Vegas. (Bring on that 15 minutes of fame!) Joe Domenico, General Manager of Caesars Atlantic City had this to say, "We wanted to put together something well above and far beyond an exclusive poker tournament. We wanted to create an elite gaming and entertainment experience for the sophisticated player...and that's the Stockings and Bonds Tournament." And getting to AC is easier than ever. If you've got a private car, by all means use it. If you don't, you're still in luck because you can rate first-class, round-trip transportation with Hampton Luxury Liner or the ACES Train. Space in the tournament is limited so pre-register today at www.caesarsac.com to lock in your seat. Because it's time to step away from the trading floor and onto the gaming floor!
Source: Dealbreaker | 25 Feb 2010 | 2:07 pm Harry Markopolos Contemplated Killing Bernie Madoff And Blaming It On The SEC
[In his new book] Markopolos wields a bludgeon when it comes to the Securities and Exchange Commission, which effectively ignored his several complaints about Madoff, even after he provided the agency with detailed files of his findings. He goes into detail to describe his frustrating encounters with SEC employees, who usually didn't understand what he was talking about. And he even places ultimate blame with the agency if anything dangerous happened to him or Madoff:
Source: Dealbreaker | 25 Feb 2010 | 1:59 pm Steve Jobs: Being Bank Better Than Dividend or Stock Split (AAPL)Apple Inc. (NASDAQ: AAPL) has recovered sharply today from its lows, although it may be on more noise than news. The company at its annual meeting reelected its seven board members. There were market rumors that Apple was going to announce a stock split today for a ratio of 3-to-1 or 4-to-1 but [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 12:49 pm Harry Markopolos Wishes He'd Looked Eliot Spitzer In The Eye
Source: Dealbreaker | 25 Feb 2010 | 12:45 pm Labour shortage hits China export recoveryAn export recovery in the world’s most populous country is running up against an unexpected constraint – manpower. With Chinese exports back to their early 2008 levels, factory owners are worried about their ability to service a surge in ordersSource: Financial Times - US homepage | 25 Feb 2010 | 11:50 am What To Expect From Buffett’s Annual Letter (BRK-B, UNH, COP, XOM, MCO, RSG)This weekend we will get to see the annual letter to shareholders from Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-B, BRK-A). We expect a far more confident Buffett than what we witnessed last year when Buffett’s 2009 letter was just awful in comparison to today. With the multi-billion mega-merger acquisition of BNSF as his [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 11:40 am Why Fannie Mae Is Like a Platypus
Neither fish nor fowl. (Nicole Duplaix/Getty Images) By Jacob Goldstein It was a little unnerving this morning when Ben Bernanke compared Fannie Mae and Freddie Mac to a platypus. Sure, the platypus is a fun, weird animal. But do we really want a biological freakshow to be the model for two giant entities that sit at the center of the U.S. housing market and have cost taxpayers hundreds of billions of dollars? The government created Fannie and Freddie decades ago, but until 2008 they operated as independent companies. They were supposed to make it easier for Americans to get mortgages. Their basic job was to buy mortgages made by banks, then sell bundles of those mortgages to investors, along with a guarantee that the mortgage would be paid back. They own or guarantee about half the loans in the U.S. The housing bust hit Fannie and Freddie hard. The U.S. housing market would have been even more of a mess if they went under, so the government stepped in and took them over. Now we have these two giant companies that are, for the moment, run by the government. There's even a debate over whether Fannie and Freddie should be included in the federal budget. The Obama Administration says no; the nonpartisan Congressional Budget Office says yes -- and figures that Fannie and Freddie added $291 billion to federal outlays for fiscal 2009. In his testimony to the Senate banking committee this morning, Bernanke called the current situation an "unsustainable" "no-man's land" between public and private. One option, he said, would be to acknowledge that Fannie and Freddie are part of the federal government would be one option. Another would be turning over much of their role to the private sector. Those are "two very different approaches, but both of them have the advantage of eliminating this platypus ... status that those firms have now," Bernanke said. But not everybody's in a hurry to change things. Tim Geithner, who testified yesterday before the House Budget Committee, said the Administration doesn't plan to roll out an overhaul plan for Fannie and Freddie until next year. "We want to make sure that we are proposing these changes at a time when we have a little bit more distance from the worst housing crisis in generations," Geithner said, according to the Associated Press. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Feb 2010 | 11:36 am Ben Bernanke Taking A Look At GreeceBen Bernanke is looking into Goldman's Greek shenanigans, which may or may not have been strictly kosher- depending on if you pray at the House of LB or the house of Taibbi. The deals were brokered in 2001, so yeah, nine years seem about a reasonable amount of time for the Fed to start worrying. Bernanke, testifying this morning before the Senate Banking Committee, said that the ever-so-quick-to-take kids over at the SEC don't want to miss on the action either. They're "interested in the issue." Mr. Bernanke said credit default swaps can be useful in hedging, but added, "obviously using these instruments in a way that intentionally destabilizes a company or country is counterproductive."
Source: Dealbreaker | 25 Feb 2010 | 11:13 am Presented By:Source: Dealbreaker | 25 Feb 2010 | 11:13 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 | 25 Feb 2010 | 11:12 am Your Next Move: The Leader’s Guide to Navigating Major Career Transitions
Do you ever dream of landing a promotion? Who doesn’t? You could finally nab that corner office with a view. Your colleagues would start looking up to you as an adept leader (theoretically). Your newfound ability to buy a beach house wouldn’t hurt, either. The reality is different. Promotions, no matter how fantastic they sound, can pose a serious challenge. Just ask leadership transition expert Michael D. Watkins. This former Harvard Business School professor, who now chairs Genesis Advisers, previously wrote the renowned transition guide The First 90 Days. In his newest book, he chronicles the obstacles that fresh-off-the-promotion leaders face. Your Next Move: The Leader’s Guide to Successfully Navigating Major Career Transitions explores how to effectively navigate eight common types of promotions. The types of promotions in the book cover common challenges that leaders face, from leading former peers to politicking correctly in your new position. Each chapter in this guide is dedicated to one kind of promotion. Starting with a case study of a person facing the situation in question, you learn what risks come with the promotion, why they happen, and how to navigate your new role successfully. Watkins uses academic research, diagrams, and bullet lists to help you understand his points. You’ll also learn how your company can help you with your transition in each chapter. Content The first chapter describes leadership challenges you might face after being promoted to a new position within your company. In the next chapter, you learn how to effectively navigate the challenges associated with leading former peers, such as asserting authority and changing your relationships. After that, Watkins moves on the challenges that higher-level leaders face. The “corporate diplomacy challenge” tells authoritative, results-oriented managers how to successfully politick, influence, and build alliances. The “onboarding challenge” shows you how to ease into a new organization without being alienated by the existing culture. Next comes a relatively condensed chapter on moving to a new location (this is such an involved topic that it really deserves a book of its own). After that, you learn how to navigate the turnaround of a troubled organization, and realign a complacent organization in order to prevent crises. Your Next Move concludes with a chapter on handling a mixed scenario, or “business portfolio challenge.” Here, you figure out where to focus when different parts of your company are at different states of the STARS (start-up, turnaround, accelerated growth, realignment, sustaining success) continuum. Comments Your Next Move prepares you well for any number of promotions. Watkins admits in the first chapter that the book doesn’t cover every single transition challenge. But “if you can deal with these eight tough transitions, you can deal with just about anything,” he writes. What he does cover, he covers thoroughly, so you’re exposed to elements that could appear in a multitude of challenges. As with any preparatory guide, it is best read with a level head. If you read it in advance of a promotion, as part of your general business education, you’ll learn what to expect. When you are promoted, some of the scenarios Watkins describes won’t come as a surprise. Instead of firefighting, you’ll have an idea of what questions to ask. I think this is the best way to read the book. I’m not sure how helpful it would be if you’re already in the midst of a stressful promotion–the book doesn’t address survival in depth. The book assumes basic business knowledge; expect “businessy” language. Personally, the only jargon I found overwhelming was the author’s frequent mention of STARS. I thought that despite some technical and academic language, the book flows well. Watkins’ intimate knowledge of transitions makes the book a valuable read. There’s no question that Watkins really knows what he’s talking about. You don’t risk getting uneducated advice in Your Next Move. Watkins integrates a lot of his own rigorous research, but puts it into language most business-minded people can understand. Overall, I recommend it. It is valuable for anyone with a general business interest, not only those who anticipate an imminent promotion. Read it before you even expect to get promoted, so that you learn how to start off on the right foot. Disclosure: We were sent a free copy of this book.
Source: Business Pundit | 25 Feb 2010 | 11:03 am Former Kmart head ordered to pay millions (AP)AP - A judge on Thursday ordered a former Kmart CEO to pay more than $10 million for misleading investors before the retail chain filed for bankruptcy protection in 2002.Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 11:00 am Gas prices drive up foreclosuresThere are many reasons why families face foreclosure, like loss of income or rising health care costs. But several new studies show there's another factor closely linked with foreclosure rates: gas prices. Andrea Bernstein reports.Source: Marketplace | 25 Feb 2010 | 10:55 am Banks gamble on the future of GreeceSome big banks have been placing bets on whether Greece will default on its debt. Reuters blogger Felix Salmon talks with Bob Moon about whether it is fair to demonize the banks, and where we go from here.Source: Marketplace | 25 Feb 2010 | 10:55 am Calculating the value of carbon in treesDelegates at the global climate summit failed to figure out a way to stop the destruction of the world's forests. But some lawmakers think they have a solution, and it relies on financing from some of America's biggest polluters. Michael Montgomery reports in collaboration with Mark Schapiro.Source: Marketplace | 25 Feb 2010 | 10:55 am Who wins if March Madness expands?There has been talk that the number of teams participating in the NCAA basketball playoffs known as March Madness should be expanded. Wall Street Journal sportswriter Darren Everson talks with Bob Moon about the financial impact the move would have and who would benefit.Source: Marketplace | 25 Feb 2010 | 10:55 am Coke hopes deal puts fizz back in bizThe Coca-Cola Company is buying the North American bottling operations of Coca-Cola Enterprises in a deal worth $12 billion. Brett Neely reports.Source: Marketplace | 25 Feb 2010 | 10:51 am Vermont vote may slow nuclear pushThe Obama administration has been pushing for nuclear power as a cleaner energy source. But state senators in Vermont are sending a different message by voting to retire a 38-year-old power plant. John Dimsdale reports.Source: Marketplace | 25 Feb 2010 | 10:51 am Health costs lost on many AmericansTempers flared at times during a bipartisan health care summit in Washington. But despite the drama, many Americans greet the health care debate with a shrug. Why? Nancy Marshall Genzer reports.Source: Marketplace | 25 Feb 2010 | 10:51 am More Cold Days For Gold (GLD, SGOL, GDX, GDXJ)It has been hard to not notice the sideways trading action in gold of late. Sure, you have the potential decline of the Euro, the rising dollar, mixed economic data globally, China keeping the brakes on to stall inflation and to prevent overheating, and more. Throw in Bernanke promising to keep rates very low despite [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 10:32 am Madoff Daughter-in-Law, Grandchildren Looking To Ixnay On The Adoffmay Amenay
Source: Dealbreaker | 25 Feb 2010 | 10:29 am FTSE 100 falls sharply on eurozone recovery doubts (AFP)
Source: Yahoo! News: Stock Markets News | 25 Feb 2010 | 10:13 am More Troubles Brewing in Video Game Land? (GME, WMT, ATVI, ERTS, AAPL)There is one headline about management that almost always brings up concerns from the financial community….. CFO Resignations. GameStop Corp. (NYSE: GME) is paying a price this morning because CFO Catherine Smith left the company. To make matters worse, she only joined GameStop late in 2009. Smith took a job with Wal-Mart Stores Inc. (NYSE: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Feb 2010 | 8:57 am ETF Managers Started 120 New Funds in 2009: AudioSource: Bloomberg - All Podcasts | 25 Feb 2010 | 8:35 am Stannard on Dollar, Barrow on Fed, Schenker on Oil: First WordSource: Bloomberg - All Podcasts | 25 Feb 2010 | 7:49 am Toyota, Congress Posture With the Best of Them
Toyota President Akio Toyoda voluntarily testified before a congressional committee yesterday. Toyoda´s intent was to rebuild American confidence in his company´s products. The Wall Street Journal has the story: In Japan, senior executives whose companies make big mistakes undertake a familiar, public ritual of apology. They bow deeply. They express regret. Often they resign. They aren’t usually subjected to hostile interrogations by legislators. In the U.S., executives whose companies make big mistakes don’t bow. Instead, they hire lobbyists, publicists and lawyers and brace to endure humiliating interrogations by lawmakers. “You’ll be able to brag about the fact that you withstood the interrogation of a congressional committee,” said Rep. Paul Kanjorski (D., Pa.), who then proceeded to lambaste Toyota for failing to act sooner to deal with safety problems and threw in a plug for the U.S. product-liability system. He said he expected Toyota “will be called upon under our system to pay compensation.” Sounds more like posturing than a concerted effort to build consumer confidence. Toyoda proved to Congress that he´s willing to testify in an unfamiliar American system. By doing that, Toyoda is emphasizing how important the American market is to his company. And he´s pleasing the very politicians who may want to slap his company with fees or fines. Congress, meanwhile, had the chance to flex some muscle. The congressional reps on the panel get to prove their dedication to consumer rights, nice to have during the next election. And consumers? Until they know exactly what caused the problem, and why, I can´t see much confidence coming out of this, especially at a time when a fair amount of those very people don´t think much of Congressional virtue. The Toyoda hearings sound like little more than political posturing.
Source: Business Pundit | 25 Feb 2010 | 6:18 am The End of Hummer, and Other ReadingGood morning. GM said a deal to sell its Hummer line fell through, and the company will "begin the orderly wind-down of the Hummer operations." You can make up your own line here about how the vehicle that was the symbol of the boom is now the symbol of the bust. Sales are down 78% this year, the Detroit News reports. Forget Greece: Spain could be the real worry for the Euro, the WSJ says. "The euro zone's No. 4 economy, Spain has an unemployment rate of 19%, a deflating housing bubble, big debts and a gaping budget deficit. Its gross domestic product contracted 3.6% in 2009 and is expected to shrink again this year, leaving Spain in its deepest and longest recession in a half-century." Yikes. India, on the other hand, is on fire. The country's economy is projected to grow by more than 8% in the coming fiscal year, Bloomberg reports. Of course, rapid growth often brings inflation. And, as the FT notes, food prices in India have risen 18% in the past year. Listening to memos on the iPod while jogging home from work: A cost-benefit analysis from Peter Orszag, in this interview with Politico. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Feb 2010 | 6:07 am Bloom Box: Best Product or Simply First Mover?
Silicon Valley startup Bloom Energy unveiled the Bloom box yesterday. The Bloom box is a solid oxide fuel cell that can power multiple homes independently of the existing energy grid. Bloom Energy´s design is groundbreaking–until you look at its competitors, who are nearing market launch. The Guardian analyzes the situation: The problems with SOFCs, probably including the Bloom Box, are well known. The fuel cells burn out and have to be replaced by professional engineers. Ceramic Fuel Cells talks of the units needed to be switched every two years though the company hopes this will improve to once every four years. The cost of the units is high. Ceramic Fuel Cells has mentioned a figure of about £2,000 ($3,000+ ) for a machine that can continuously develop 2 kilowatts of electric power but I think this number is highly optimistic and the true figure is likely to be several times this level for some years to come. The UK government’s new feed-in tariffs provide a substantial incentive for householders to install SOFCs in domestic homes. Ceramic Fuel Cells has made great play of the attractiveness of this new subsidy. Provided its power plants work at even approximately the price suggested Ceramic Fuel Cells will find a ready market in the UK. The Bloom Boxes, which appear to be aimed at office buildings and go up to 100 kilowatts, will not benefit from this subsidy. Does the Bloom Box represent a substantial technical advance over Ceramic Fuel Cells? On the information provided so far, I could see no obvious technical innovation that puts Bloom ahead of the Ceramic Fuel Cells machines. But Ceramic Fuel Cells works from Melbourne, not Silicon Valley, and can’t get the California Governor and Colin Powell to come to its product launches. The Guardian suggests the Bloom box may not be the best SOFC on the market, once more SOFCs actually hit the market. Bloom, however, has a first-mover advantage so powerful that its brand will be associated with SOFCs in general for a long time. That could make people perceive it as the best. And that perception could be all that ultimately matters.
Source: Business Pundit | 25 Feb 2010 | 5:46 am A New Version of an Old Adage
Source: Business Pundit | 25 Feb 2010 | 4:12 am Philip Morris in tie-up with Filipino tycoonPhilip Morris International unveiled a joint venture in the Philippines that will see it team up with Fortune Tobacco to create a company that would control 90 per cent of the local cigarette marketSource: Financial Times - US homepage | 25 Feb 2010 | 2:20 am
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