|
|
|
|
GM recalls 1.3m cars over faultGeneral Motors recalls 1.3 million small cars in North America because of a power steering problem that has been linked to 14 crashes.Source: BBC News | Business | World Edition | 2 Mar 2010 | 3:18 am Bye-bye, Saturday mail? USPS cuts loomSnail mail might soon get even slower.Source: Business and financial news - CNNMoney.com | 2 Mar 2010 | 3:11 am ArcelorMittal loses court challenge on emissions (AP)AP - The world's largest steel maker ArcelorMittal SA on Tuesday lost a legal challenge that sought to exempt it from the European Union's greenhouse gas cap-and-trade system.Source: Yahoo! News: Business News | 2 Mar 2010 | 3:07 am Senate panel to review Toyota recalls (AP)
Source: Yahoo! News: Business News | 2 Mar 2010 | 3:07 am The Iowa Appliance Gold Rush And The Future Of Consumer SpendingIowa opened its “cash for appliances” program yesterday and the $2.8 million that the state had set aside to fund it was gone by mid-afternoon. All on the first day. The state announced “…all funding for the State Appliance Rebate Program has been exhausted in all rebate categories — all remaining rebate applications are going onto [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Mar 2010 | 3:06 am Iraq's oil deals dominate PM election campaign (AP)AP - Backed by armed bodyguards, international oil executives have flocked to this southern Iraqi city to survey their potentially lucrative prizes: the fields that they hope will one day be pumping out dramatically greater amounts of cheap, plentiful crude.Source: Yahoo! News: Business News | 2 Mar 2010 | 3:04 am Toyota repairing leaky oil hoses in US, Japan (AP)
Source: Yahoo! News: Business News | 2 Mar 2010 | 3:01 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 | 2 Mar 2010 | 3:01 am Eurozone inflation drops to 0.9 percent in Feb (AP)AP - Inflation in the 16 countries that use the euro fell in February, official figures showed Tuesday, in a further sign that price pressures remain subdued in the wake of the recession.Source: Yahoo! News: Business News | 2 Mar 2010 | 3:00 am Allied Irish sees first FY loss, capital plan vagueDUBLIN (Reuters) - Allied Irish Banks (AIB) posted its first ever full-year net loss, after being burned in a property market crash, and did not offer any exact guidance on when or how it would restore profits and its capital base.
Source: Reuters: Business News | 2 Mar 2010 | 2:58 am GM’s Turn: Company Recalls 1.3 Million CarsCar recalls have become an epidemic with the sickest patient being Toyota (TM) which recalled 8.5 million cars this year. GM, which is one of the car companies that had a chance to benefit from the woes of the Japanese car company, may have lost that chance. It announced a recall of 1.3 million compact cars [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Mar 2010 | 2:54 am Political worries keep pound under pressureThe pound remained under pressure after hitting a ninth-month low against the dollar yesterday as the prospect of a hung Parliament heightened fears of a delay in reducing Britain's public debts. Source: Latest Business News from Times Online | 2 Mar 2010 | 2:47 am Consumer group sues insurer over policy changes (AP)
Source: Yahoo! News: Business News | 2 Mar 2010 | 2:43 am Hyundai feeds on Toyota woes; GM recalls 1.3 million carsSEOUL/DETROIT (Reuters) - South Korea's Hyundai Motor Co announced a sharp rise in February sales, benefiting from recall woes at rival Toyota Motor Co , which planned aggressive incentives to win back U.S. customers.
Source: Reuters: Business News | 2 Mar 2010 | 2:38 am Allied Irish swings to loss as impairments surgeAllied Irish Banks says Tuesday it swung to a net loss of 2.41 billion euros ($3.26 billion) in 2009 due to surging loan loss provisions from Ireland’s property crisis, as the bank says the coming year will remain extremely challenging.
Source: MarketWatch.com - Top Stories | 2 Mar 2010 | 2:37 am GM triples cash promise to OpelGeneral Motors says it will spend 1.9bn euros to restructure its European unit Opel - three times more than first pledged.Source: BBC News | Business | World Edition | 2 Mar 2010 | 2:35 am London Markets: Prudential extends drop from AIG dealSeveral insurance companies lost ground in London on Tuesday, with Prudential and Admiral Group trading lower.
Source: MarketWatch.com - Top Stories | 2 Mar 2010 | 2:27 am GM triples revamp funds for Vauxhall and OpelGeneral Motors (GM) will invest €1.9 billion (£1.7 billion) on restructuring its Vauxhall and Opel brands, cutting the amount of state funding needed to rescue the American carmaker’s European division. Source: Latest Business News from Times Online | 2 Mar 2010 | 2:14 am GM triples Opel financing, cuts state aid requestFRANKFURT (Reuters) - General Motors said it will triple its funding of European arm Opel and cut its request for state aid, in a bid to win over European governments and labor.
Source: Reuters: Business News | 2 Mar 2010 | 2:13 am Asia stocks up amid hopeful regional economic data (AP)
Source: Yahoo! News: Stock Markets News | 2 Mar 2010 | 2:12 am Canon says still short of target in Oce bidTOKYO/AMSTERDAM (Reuters) - Japan's Canon Inc said it had acquired or been tendered 71 percent of Oce's shares in a takeover bid of the Dutch printer maker that closed Monday, short of its target of 85 percent.
Source: Reuters: Business News | 2 Mar 2010 | 2:11 am Spending more, saving less. Uh-oh. - The BuzzWe all supposedly learned our lesson. The credit bubble and Great Recession taught us to be more fiscally fit. Save more and spend within your means. For a while, it looked like a new era of thrift was upon us.Source: Business and financial news - CNNMoney.com | 2 Mar 2010 | 2:04 am Ditched by your doctor - blame MedicareAs a 21% cut in Medicare payment rates to doctors took effect Monday, eight of the 15 patients on Dr. William Schreiber's schedule are on Medicare.Source: Business and financial news - CNNMoney.com | 2 Mar 2010 | 2:03 am Nab a real estate deal - while you still canIf you've been holding off on a real estate purchase, glimmers of a turnaround in the housing market may have you wondering if it's finally time to make your move.Source: Business and financial news - CNNMoney.com | 2 Mar 2010 | 2:00 am Allied Irish Banks make huge lossAllied Irish Banks (AIB) reports pre-tax losses of 2.6bn euros for 2009 after what it called "a very challenging year.Source: BBC News | Business | World Edition | 2 Mar 2010 | 1:59 am Europe Markets: European shares edge lower, earnings limit lossesEuropean shares edged lower on Tuesday, after gaining strongly at the start of the March, although earnings helped limit downside.
Source: MarketWatch.com - Top Stories | 2 Mar 2010 | 1:58 am Rat out a tax cheat, collect a rewardIf you knew coworkers, former bosses or exes who cheated on their taxes, would you turn them in? The Internal Revenue Service can make it worth your while.Source: Business and financial news - CNNMoney.com | 2 Mar 2010 | 1:55 am Media Digest 3/2/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: GM will recall 1.3 million cars for steering problems. Reuters: China would like one price for iron ore to cut commodity speculation. Reuters: Two software services will help telcos as they offer alternatives to Google (GOOG) Android and Apple (AAPL) Reuters: Toyota (TM) will announce March sales incentives. WSJ: Staffing problems at federal agencies are holding back jobs programs. WSJ: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Mar 2010 | 1:50 am Sterling under pressure; world stocks riseLONDON (Reuters) - The pound came under further pressure on Tuesday, battered by political worries and engorged public finances, while global equities stayed relatively buoyant.
Source: Reuters: Business News | 2 Mar 2010 | 1:49 am S&P positive for 2010Stocks jumped Monday, with the Nasdaq and S&P 500 pushing back into positive territory for the year, as investors welcomed AIG's $35 billion asset sale and a pair of mergers in the pharmaceutical sector.Source: Business and financial news - CNNMoney.com | 2 Mar 2010 | 1:44 am FTSE 0.38% higher at the open (AFP)
Source: Yahoo! News: Stock Markets News | 2 Mar 2010 | 1:38 am Record profit for insurance firmInsurance firm Admiral reports record profits described by the chief executive as an "outstanding achievement".Source: BBC News | Business | World Edition | 2 Mar 2010 | 1:33 am Asia Market And Europe Open (3/2/2010)Markets in Asia were mixed. The Nikkei rose .5% to 10,222. The Hang Seng was down .8% to 20,899. HSBC (NYSE:HBC) fell sharply. The Shanghai Composite dropped .5% to 3,075. At the open, the FTSE was up .3% to 5,424. The Dax rose .1% to 5,720. The CAC 40 was flat at 3,771. Data from Reuters and MarketWatch. Douglas A. McIntyre Filed [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Mar 2010 | 1:23 am Sports Direct considers cash bid for BlacksSports Direct, the retailer controlled by Mike Ashley, the owner of Newcastle United, is considering making a bid for Blacks Leisure one week after blocking a £20 million cash call by the smaller rival. Source: Latest Business News from Times Online | 2 Mar 2010 | 1:19 am Irish bank AIB suffers $3.25B loss in 2009 (AP)AP - Ireland's largest financial institution, Allied Irish Banks PLC, reported its first-ever full-year loss Tuesday as bad debts soared amid the recession.Source: Yahoo! News: Business News | 2 Mar 2010 | 1:17 am Senate talks close in on deal for Wall Street regs (AP)
Source: Yahoo! News: Business News | 2 Mar 2010 | 1:14 am Business Bullet: Australia, Oil, Sterling, Allied IrishThe latest news on: Australia, Oil, Sterling, Allied IrishSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Mar 2010 | 1:05 am Consumer group sues Anthem Blue Cross over policy changesConsumer Watchdog says Anthem violated California's health and safety code when it closed policies to newcomers and offered remaining customers alternative plans with fewer benefits at higher rates.A consumer group sued Anthem Blue Cross on Monday, accusing California's largest for-profit health insurer of violating state law by closing certain policies to new members while illegally offering remaining customers alternative plans with fewer benefits at higher rates.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Toyota president repeats apologies in ChinaFollowing up his appearance before a U.S. congressional panel last week, Akio Toyoda bows in contrition and vows to put customers' safety first at a Beijing news conference.Apologizing several times and bowing twice, Toyota President Akio Toyoda arrived in the world's largest automotive market to assuage fears about the safety of his company's vehicles.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am GM will recall 1.3 million carsGeneral Motors Co. said Monday that it would recall 1.3 million Chevrolet and Pontiac compact cars sold in the U.S., Canada and Mexico to fix power steering motors that could fail.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Information on U.S. website for medical data thefts is bare-bonesThe Health and Human Services site reveals little about specific security breaches.The medical records of more than 18,000 patients of at least five Torrance doctors were potentially accessed by cyber-thieves on a single day in September, but this is probably the first you're hearing of it.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Dodd moves to scale back Consumer Financial Protection Agency planIn an attempt to lure the Republican votes needed to get a sweeping overhaul through the Senate, the Banking Committee chief is circulating a plan for a less powerful Bureau of Financial Protection.President Obama may be forced to accept a watered-down version of his proposed consumer protection agency to get a sweeping overhaul of financial regulations approved by Congress.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Fed vice chairman plans to step down in JuneThe departure of Donald L. Kohn, a close ally of Fed Chairman Ben S. Bernanke, could leave three vacancies on the central bank's board.The Federal Reserve's No. 2 person, a close ally of Chairman Ben S. Bernanke during the institution's crucial response to the financial crisis, will step down as vice chairman when his term expires in June.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Creditors set to gain PanavisionThe debt-laden camera firm has been hit hard by a drop in movie and TV production.Ronald O. Perelman is handing over Panavision Inc., the debt-laden camera rental company that is suffering from a steep downturn in movie and TV production, to its creditors.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Break.com's low-brow fare is right on targetYoung men lap up its sophomoric fare, which it has recently started producing itself after just buying it from users. Unlike bigger rival YouTube, Break.com turns a profit.At an editorial meeting in the offices of Break Media on a recent Wednesday, the back-and-forth had a familiar Hollywood ring. ¶ "The plan with this is to first get the pilot done for ad sales." ¶ "That's still in development." ¶ "It's one of our six tent poles for the year." ¶ But these weren't studio or network executives brainstorming ideas for big-budget movies or prime-time TV series. They were Break Media's employees hatching plans for short videos that appeal to the sensibilities of young men targeted by its website, Break.com. ¶ One idea involved two guys trained as firefighters stumbling into a male strip show while in their uniforms.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Dow rises 79 points to nearly six-week highNEW YORK -- Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy.
Source: L.A. Times - Business | 2 Mar 2010 | 1:00 am Sports Direct mulls Blacks dealSports Direct, the UK's biggest sports goods retailer, says it is considering a bid for Blacks Leisure.Source: BBC News | Business | World Edition | 2 Mar 2010 | 12:55 am Currencies: Dollar rises against rivals in Asian tradingThe Australian dollar gets an early lift against its U.S. counterpart after an interest-rate hike, but the move only briefly stalls the greenback’s overall rise.
Source: MarketWatch.com - Top Stories | 2 Mar 2010 | 12:39 am Pound under pressure as opinion polls narrowThe pound was under renewed pressure on Tuesday morning as investors' anxiety about the chance of a hung parliament dominated markets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Mar 2010 | 12:38 am Google to buy photo-editing siteInternet search giant Google is buying online photo-editing site Picnik - its third deal in three weeks.Source: BBC News | Business | World Edition | 2 Mar 2010 | 12:25 am Oz stocks: Strong finish to tradingThe Australian share market posted its strongest finish in five trading days after an expected increase in the cash rate by the Reserve Bank of Australia.The benchmark S&P/ASX200 index was up 15.4 points, or 0.33 per cent, at...Source: nzherald.co.nz - Business | 2 Mar 2010 | 12:13 am Macau's February casino revenue reportedly up 70%Gambling revenue in Macau reportedly rises about 70% in February from a year earlier.
Source: MarketWatch.com - Top Stories | 2 Mar 2010 | 12:11 am Australian rates rise to 4%Australia's central bank raises interest rates, for the fourth time since October, as it seeks to cool its booming economy.Source: BBC News | Business | World Edition | 2 Mar 2010 | 12:10 am Sterling worries test global markets’ confidenceGlobal Markets Overview: Stocks rise amid more optimism over economic growth prospects and the eurozone’s fiscal worries, but sterling falls against the dollar and oil dropsSource: Financial Times - US homepage | 1 Mar 2010 | 11:57 pm GM reportedly recalling 1.3 million compact carsGeneral Motors is reportedly recalling 1.3 million compact cars sold in North America over the past five years due to problems with power-steering functions.
Source: MarketWatch.com - Top Stories | 1 Mar 2010 | 11:53 pm NZ stocks: Gain despite Telecom dragThe New Zealand sharemarket posted its fifth straight gain today amid further positive company results, despite Telecom's continued drag on the market.The benchmark NZSX50 index closed up 19.09 points, or 0.6 per cent, at 3183.24,...Source: nzherald.co.nz - Business | 1 Mar 2010 | 11:15 pm Sands China profit rises 22% in 2009Macau casino operator Sands China says its net profit for 2009 climbed 21.7%, helped by higher earnings as its casinos attracted more than 35 million visitors.
Source: MarketWatch.com - Top Stories | 1 Mar 2010 | 10:54 pm KiwiRail positive despite missing targetsKiwiRail is behind its revenue and profit targets for the half year to December but says it is "making good progress towards a sustainable future".The state owned enterprise, which owns the rail companies, Interislander ferries...Source: nzherald.co.nz - Business | 1 Mar 2010 | 10:53 pm Mark Hulbert: Gold timers increasingly see glass half fullContrarian analysis continues to suggest that gold will face stiff headwinds in coming weeks, writes Mark Hulbert.
Source: MarketWatch.com - Top Stories | 1 Mar 2010 | 10:11 pm Sony PlayStation 3 hit by ‘bug’The Japanese electronics group warned 20m PlayStation 3 users not to use their consoles while it fixed a major software bugSource: Financial Times - US homepage | 1 Mar 2010 | 10:08 pm Asia Markets: Analysts wary after HSBC, Hang Seng resultsAnalysts grow cautious about the Hong Kong banking sector, citing disappointing results from local heavyweights HSBC and Hang Seng Bank.
Source: MarketWatch.com - Top Stories | 1 Mar 2010 | 10:05 pm Tax Tips: Three Often Overlooked Tax Savers (Tax Tips)Don't miss out on these three easy ways to cut Uncle Sam's tab.
Source: SmartMoney.com | 1 Mar 2010 | 10:00 pm Madoff payback formula confirmedThe victims of Bernard Madoff's massive swindle are only owed the money they invested with his firm and not the $64.8 billion reflected on fictitious statements, a Manhattan bankruptcy judge ruled on Monday.The written decision...Source: nzherald.co.nz - Business | 1 Mar 2010 | 9:00 pm Proposal sees consumer watchdog role for FedThe Federal Reserve would receive additional protection responsibilities as part of a proposal circulated by the Senate banking committee chairmanSource: Financial Times - US homepage | 1 Mar 2010 | 8:55 pm Toyota to announce March incentives in U.S.DETROIT (Reuters) - Toyota Motor Corp will roll out an aggressive incentive program for U.S. consumers in March, including zero-percent financing for five years and two-year free maintenance, a source briefed on the matter said on Monday.
Source: Reuters: Business News | 1 Mar 2010 | 8:48 pm Kiwi dollar may rise above US70c on Aust bank moveThe New Zealand dollar is poised to rise above 70 U.S. cents with growing expectations the Reserve Bank of Australia will hike interest rates this afternoon, bolstering investor appetite for higher-yielding, or riskier, assets. RBA...Source: nzherald.co.nz - Business | 1 Mar 2010 | 8:30 pm IBM cuts hundreds of jobsSAN FRANCISCO - IBM has cut more than 1,500 jobs across a number of divisions, a sliver of the technology company's nearly 400,000 workers worldwide.IBM wouldn't comment. Documents submitted by laid-off workers to the Alliance...Source: nzherald.co.nz - Business | 1 Mar 2010 | 8:07 pm U.S. consumer spending up againNEW YORK (Reuters) - U.S. manufacturing grew in February, though more slowly than expected, while consumer spending rose for a fourth straight month, showing the economy continued a modest recovery.
Source: Reuters: Business News | 1 Mar 2010 | 8:02 pm GE plants promoted as 'cisgenic'New Zealand researchers appear to be gearing up for a new bid to win the hearts and minds of consumers in preparation for the first applications for release of genetically engineered (GE) pasture species.The GE clover and ryegrass...Source: nzherald.co.nz - Business | 1 Mar 2010 | 8:00 pm Argentina president changes tack to tap reservesAfter more than two months of legal and congressional battling, Argentine President Cristina Fernández on Monday unveiled a new bid to tap central bank reserves to pay off debtsSource: Financial Times - US homepage | 1 Mar 2010 | 7:46 pm Jesse Jackson backs Robin Hood taxJesse Jackson, the American civil rights campaigner, backed a "Robin Hood tax" on bankers and urged the younger generation to revolutionise the world's financial systems last night.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 7:17 pm Personal grievance revamp consideredExtending the 90 day trial period for new workers, changing the rules around when it is fair to sack workers and ensuring better standards of employment advocates are options in a Labour Department discussion paper released by Employment...Source: nzherald.co.nz - Business | 1 Mar 2010 | 7:17 pm Fed's No. 2 to departWASHINGTON (Reuters) - Federal Reserve Vice Chairman Donald Kohn, a 40-year veteran of the U.S. central bank, will step down in late June, giving President Barack Obama more scope to reshape the institution.
Source: Reuters: Business News | 1 Mar 2010 | 7:04 pm All eyes on Toyota at Geneva car showMILAN - For most carmakers, the Geneva Auto Show will be about rolling out new models in the teeth of fallen consumer demand and the end of cash-for-clunkers programmes in several countries. For Toyota, that just won't be enough.The...Source: nzherald.co.nz - Business | 1 Mar 2010 | 7:00 pm Vector pushes fibre bidVector has launched an aggressive campaign to back its fibre optic network bid days before the release of a timetable for assessing the proposals and awarding contracts.Vector has submitted a bid to build a network in Auckland...Source: nzherald.co.nz - Business | 1 Mar 2010 | 7:00 pm US seeks China, India, Brazil info on Doha deal (AFP)
Source: Yahoo! News: Business News | 1 Mar 2010 | 6:55 pm Argentina asks US help to end Falklands spat (AP)
Source: Yahoo! News: Business News | 1 Mar 2010 | 6:55 pm Metals & Mining Conference, Royalties, Agriculture: TakingStockSource: Bloomberg - All Podcasts | 1 Mar 2010 | 6:54 pm UK's Pru to buy AIG Asia unit for $35.5 billionLONDON (Reuters) - Britain's Prudential will buy American International Group's Asian life insurance arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.
Source: Reuters: Business News | 1 Mar 2010 | 6:47 pm The 10 Worst Places For Women To WorkWomen make up over 50% of the US workforce now, but the Bureau of the Census shows that women make, on average, only 77% of what men do based on measurements of annual salaries. 24/7 Wall St. looked at research about the Fortune 500 to find the worst places for women to work. The data used is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Mar 2010 | 6:29 pm Direxion's New ETF Tracks Two-Year Treasury Notes: AudioSource: Bloomberg - All Podcasts | 1 Mar 2010 | 6:18 pm Round 2: Senate fight over jobless benefitsDemocratic Senators Monday unveiled a $150 billion bill that pushes back the deadline to file for unemployment insurance until year-end and extends dozens of expiring corporate and personal tax credits.Source: Business and financial news - CNNMoney.com | 1 Mar 2010 | 6:10 pm AIG to halve Fed debt with Asia saleAmerican International Group (AIG) will more than halve its debt to the Federal Reserve with the $35.5 billion sale of American International Assurance (AIA) to Prudential.$ Source: Latest Business News from Times Online | 1 Mar 2010 | 6:08 pm 4 Californians indicted in alleged ticket reselling scamAuthorities say the men hacked into Ticketmaster computers to fraudulently buy tickets before they went on sale, then sold them at a premium to retail customers.Four California men have been indicted for allegedly using their company, Wiseguy Tickets Inc., to fraudulently buy and sell tickets to popular concerts and sporting events.
Source: L.A. Times - Business | 1 Mar 2010 | 5:52 pm UK's risky economy is the last place investors want to be - just ask PrudentialThe pound was in virtual free-fall at one stage yesterday, and it wasn't just renewed worries about the political paralysis of a hung parliament that caused it. There was also news of the Prudential's giant $35.5bn takeover of AIG's Asian assets to come to terms with.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 5:47 pm Small cars dominate Geneva showSmall and electric cars are set to dominate the Geneva motor show where more than 30 world premieres will be on display.Source: BBC News | Business | World Edition | 1 Mar 2010 | 5:44 pm Volcker sees no threat to dollar as reserve currencyNEW YORK (Reuters) - Paul Volcker, the former Federal Reserve chairman who is advising the Obama administration, said the U.S. dollar's role as the world's reserve currency is likely not in jeopardy, but warned central bankers to keep a close eye on inflation.
Source: Reuters: Business News | 1 Mar 2010 | 5:37 pm AIG takeover underlines Pru chief Tidjane Thiam's ambitionTidjane Thiam, Prudential's chief executive, admitted he was a tired man yesterday after a long weekend of negotiations with AIG in The Big Apple.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 5:33 pm Prudential advisers in line for record $1.3bn feesInvestment banks and law firms advising Prudential on its takeover of rival insurer AIG's Asian business are in line for a record $1.3bn (£870m) fee bonanza.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 5:28 pm Real top football rich list againReal Madrid beat Barcelona and Manchester United to head the 2008/09 list of the richest football clubs in the world.Source: BBC News | Business | World Edition | 1 Mar 2010 | 5:26 pm Takeover Panel sets deadline for Babcock bid for VTThe Takeover Panel has told Babcock it has until April 12 to make a formal offer for rival VT Group, or walk away for six months.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 5:23 pm No pay rise for '57% of workers'Sixteen million workers, or more than half the UK's workforce, do not expect to get a pay increase this year, a survey suggests.Source: BBC News | Business | World Edition | 1 Mar 2010 | 5:11 pm Radovan Karadzic defends 'just and holy' war against MuslimsRadovan Karadzic insisted yesterday that the Bosnian Serbs fought a “just and holy” war to block the creation of an Islamic state. Source: Latest Business News from Times Online | 1 Mar 2010 | 5:01 pm Business big shot: Michael JacksonMichael Jackson is no stranger to making deals, but he does, nonetheless, like to build a business from the ground up. So forget the 23 years that he spent on the board of Sage, the software group that was one of the most acquisitive businesses of the 1990s, and concentrate on his present incarnation as executive chairman of Access Intelligence, an AIM-listed software minnow that is his latest stab at building an industry giant almost from scratch. Source: Latest Business News from Times Online | 1 Mar 2010 | 5:01 pm Goldman Sachs defiant on pay packetsGoldman Sachs has refused shareholders’ demands for an investigation into the levels of pay received by its bankers, the investment bank revealed in its annual report. Source: Latest Business News from Times Online | 1 Mar 2010 | 5:01 pm Insider dealers to face fines of at least £100,000 under FSA codeThose who break City rules face a threefold increase in fines for cheating and misleading their customers and for other serious failings, the Financial Services Authority said yesterday. Source: Latest Business News from Times Online | 1 Mar 2010 | 5:01 pm Day the dam burst: fears of election deadlock sink poundThe pound suffered its biggest one-day fall for more than a year yesterday amid the prospect of a hung Parliament and growing fears that this will prevent swift and decisive action being taken over Britain’s public finances. Source: Latest Business News from Times Online | 1 Mar 2010 | 5:01 pm Tempus: Amlin enjoys a banner yearIf Amlin is regarded as the blue chip among Lloyd’s of London insurers, there was nothing in yesterday’s full-year figures to alter that view. Pre-tax profits more than quadrupled to £509.1 million, the company’s £3.4 billion investment portfolio generated a healthy 5.9 per cent return (against 0.6 per cent in 2008) and the dividend was raised by a better than expected 18 per cent. Source: Latest Business News from Times Online | 1 Mar 2010 | 5:01 pm Former VOA boss got bonus as firms go bustThe row over backdated business rates has re-ignited after another ports company went bust and it emerged that the Government agency responsible for the ratings fiasco paid its former chief a £20,000 performance bonus.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 4:45 pm Questor share tip: Hold HSBC - only a foolish investor would exclude it"The world's local bank" has been one of the safer investments for investors looking for a financial stock in the last couple of years and despite the bank's profits miss it remains a good investment for anyone wanting to avoid sleepless nights.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 4:41 pm Questor share tip: Buy Pearson for growth and a good dividend yieldPearson, the education and publishing group, has managed to return another set of impressive results despite being hit by the worst advertising crisis in modern times and depressed educational budgets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Mar 2010 | 4:37 pm UPDATE 2-Qualcomm raises div, to buy back more shares* Shares rise more than 2 percent (Adds background on Qualcomm's outlook)Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 4:36 pm UPDATE 2-U.S. FDA panel backs Bristol transplant drug* Final FDA decision expected by May 1 (Adds company comment, panelist quotes, background)Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 4:35 pm Chile scrambles to send aid to quake victimsThe government scrambles to deliver aid to regions devastated by Saturday’s earthquake after 10,000 troops imposed an overnight curfew to halt lootingSource: Financial Times - US homepage | 1 Mar 2010 | 4:33 pm Summary Box: Corporate dealmaking lifts stocks (AP)AP - IN LIKE A LION: Stocks began March with hefty gains after several corporate buyouts raised hopes that the economy is strengthening. American International Group, owned mainly by taxpayers, sold its Asian life insurance business to Britain's Prudential for $35.5 billion.Source: Yahoo! News: Stock Markets News | 1 Mar 2010 | 4:15 pm Fiscal and political fears hit sterlingSterling was hammered on foreign exchange markets on Monday as investors reeled from the prospect of a hung parliament following the British general election, expected in May. The pound dropped...Source: RSS feed - channel BNPaperBusiness | 1 Mar 2010 | 3:59 pm Buyouts lift stocks to highest level since Jan. (AP)
Source: Yahoo! News: Stock Markets News | 1 Mar 2010 | 3:53 pm UPDATE 2-Intel's Maloney, possible CEO heir, suffers stroke* Intel shares steady (Adds details from statement, further comment, stock move)Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 3:51 pm Write-Offs: 03.01.10$$$ Bank of America’s Moynihan Plans to Vote for Barney Frank [Bloomberg] $$$ Betting on the Blind Side [Vanity Fair] $$$ John Mack: ‘I’m not here to bash the administration, but I’m really disappointed. Every decision can’t be a political decision. Whatever happened to doing what’s right?’ [HereIsTheCity] $$$ RBS may not press charges against G-Love. [CTNews] $$$ HSBC Bankers: We’re Underpaid [Dealbook] $$$ Why so few stories today? The perceptive ones among you may have noticed it’s because the site wasn’t working for 99% of the day. Again! 
 Source: Dealbreaker | 1 Mar 2010 | 3:45 pm UPDATE 1-PDL BioPharma posts lower Q4 profitMarch 1 (Reuters) - Drug developer PDL BioPharma Inc posted a lower quarterly profit, hurt by a 15 percent drop in revenue.Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 3:44 pm UPDATE 1-MedCath to consider strategic options, including sale* Says options include sale of co, individual hospitalsSource: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 3:43 pm How the major stock indexes fared on Monday (AP)AP - Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy. The biggest boost for the market came from insurer American International Group, which agreed to sell its prized Asian life insurance business to Britain's Prudential for $35.5 billion. It is seen as a sign of confidence in the economy when big businesses go ahead with takeovers.Source: Yahoo! News: Stock Markets News | 1 Mar 2010 | 3:31 pm Goldman beats its record for $100m-plus daysGoldman Sachs made at least $100m in net trading revenues on 131 days last year – equivalent to once every other trading day, according to a filing with the Securities and Exchange CommissionSource: Financial Times - US homepage | 1 Mar 2010 | 3:31 pm CIT Late on Annual Report; Guides For Losses (CIT)Not surprisingly, CIT Group Inc. (NYSE: CIT) filed with the SEC a form NT 10-K… That is a non-timely annual report notification. The company said it would be unable to file its annual report for 2009 by the March 1 deadline ‘without unreasonable effort and expense.’ CIT did note that it expects to complete and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Mar 2010 | 3:29 pm AIG, SanDisk, Shanda Games, HSBC are big movers (AP)AP - Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 1 Mar 2010 | 3:17 pm UPDATE 1-ATS Medical posts wider-than-expected Q4 lossMarch 1 (Reuters) - Cardiac device maker ATS Medical Inc reported a wider-than-expected quarterly loss and forecast 2010 revenue below Wall Street estimates.Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 3:16 pm What AIG's Going To Do With $35.5 Billion
(
By Jacob Goldstein AIG just sold off a big chunk of itself for $35.5 billion. If things go according to plan, the company will eventually give that whole pile of money to the New York Fed, which was one of the key players in the AIG bailout. Here's how it will work: 1. Prudential plc, a British insurer, will pay AIG $25 billion in cash and $10.5 billion in various kinds of stock to buy AIA, an Asian life insurance company owned by AIG. 2. AIG will use some of the cash to pay back $16 billion the New York Fed put into AIA. 3. AIG will use the other $9 billion in cash to pay back money it borrowed under a line of credit from the Fed. As of last week AIG owed roughly $25 billion on that credit line. 4. Over time, AIG will sell off the stock in Prudential that it gets as part of today's deal. It will use the money it gets from the sales to further pay down the line of credit from the Fed. There are a few other pieces of the Fed's bailout of AIG that aren't directly affected by the deal. For one thing, the Fed has some $9 billion tied up in another AIG subsidiary, the American Life Insurance Company (often called Alico). AIG is looking to unload Alico. The Fed also put more than $40 billion into two companies created to buy some of the nasty financial products that brought down AIG. Those companies, called Maiden Lane II and Maiden Lane III, are described here. The Treasury department also pledged up to $70 billion as part of the AIG bailout; the CBO recently estimated that the long-term cost to the Treasury will be $9 billion. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Mar 2010 | 2:59 pm Citigroup Wanted To Give Vikram Pandit A Bonus This Year
Don’t go feeling too bad for VP just yet: in lieu of any cash money, he did have a lunch thrown in his honor by the Prince over the weekend. You can’t buy shit with it, but nothing says ‘thanks’ like finger sandwiches cut in the shape of your face. Citigroup Board Says Pandit Deserved Bonus for 2009 ‘Progress’ [BW]
Source: Dealbreaker | 1 Mar 2010 | 2:58 pm M&A burst drives Wall Street higherA burst of merger and acquisition activity moved US stocks higher Monday, aided by stronger than expected consumer spending and manufacturing figures as well as optimism that a Greek bail-out plan may...Source: RSS feed - channel BNPaperBusiness | 1 Mar 2010 | 2:53 pm 142 years old and still hotDozens of entrepreneurial hot sauce bottles line up on a typical grocery store shelf, but only two or three boast significant market share. Tops among them is Tabasco, which has been made by the McIlhenny Company out of Avery Island, La., since 1868. The company, still family-run and privately held, won't disclose its financials, but analysts estimate that the iconic brand -- which supplies countless bars, first-class airline cabins and the U.S. military with bottles of its red sauce -- owns about 20%-25% of the market.Source: Business and financial news - CNNMoney.com | 1 Mar 2010 | 2:52 pm An 80% pay cut - but it was worth itThen: Sold advertisingSource: Business and financial news - CNNMoney.com | 1 Mar 2010 | 2:48 pm QUALCOMM Throws Cash At Falling Stock (QCOM)This is nearly funny, or at least ironic. I had been working on a piece to post at 5:00 PM addressing the steady chart meltdown happening at QUALCOMM Incorporated (NASDAQ: QCOM). It seems as though that the stock market or the tech sector can go up or down, but now QUALCOMM shares just go down. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Mar 2010 | 2:48 pm Sterling worries test global markets' confidence21:30 GMT. More optimism on the prospects for global economic growth, signs that the debt crisis surrounding Greece may be easing, and dealmaking on Wall Street got the new trading month off to a positive...Source: RSS feed - channel BNPaperBusiness | 1 Mar 2010 | 2:42 pm UPDATE 1-Allos posts wider-than-expected Q4 lossMarch 1 (Reuters) - Allos Therapeutics Inc posted a wider-than-expected quarterly loss, hurt by expenses related to the launch of its cancer drug, Folotyn.Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 2:35 pm Wall St gains on AIG deal (Reuters)
Source: Yahoo! News: Stock Markets News | 1 Mar 2010 | 2:35 pm UPDATE 2-Mexico's Slim happy with current NY Times stake* NYT declines comment * Slim rumor propels NYT stock (Adds background on NYT stake, byline, updates prices)Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 2:33 pm Can MBIA’s $36.35 Adjusted Book Value Entice? (MBI, RDN)MBIA Inc. (NYSE: MBI) reported some mixed earnings after the close. The only reason it even really matters is because Radian Group Inc. (NYSE: RDN) has such better earnings than expected last week. The financial guarantee and credit protection firm was expected to report earnings (or losses) of -$1.11 EPS per Thomson Reuters consensus data [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Mar 2010 | 2:30 pm UPDATE 2-Anthera IPO closes up 1 cent in Nasdaq debut* Trading on Nasdaq under symbol "ANTH" (Updates with closing share price, adds byline)Source: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 2:26 pm Tim Hortons to commence share buybacks (AP)AP - Tim Hortons Inc. said Monday that it got approval from the Toronto Stock Exchange to start its share buyback program for up to $200 million worth of common shares.Source: Yahoo! News: Stock Markets News | 1 Mar 2010 | 2:25 pm Kohn to step down from Fed in JuneVice-chairman and member of the Federal Reserve board was one of the key architects of the US central bank’s response to the financial crisisSource: Financial Times - US homepage | 1 Mar 2010 | 2:11 pm CFTC, SEC eye clearinghouses governance - Gensler (Reuters)Reuters - Congress should give U.S. securities and futures regulators the authority to ensure clearinghouses are protected against conflicts of interest, the chairman of the Commodity Futures Trading Commission said on Monday.Source: Yahoo! News: Stock Markets News | 1 Mar 2010 | 2:09 pm Rapid global trade recovery continuesGlobal trade in goods has continued to bounce back rapidly from its huge fall a year ago, with an authoritative index recording the fastest monthly increase in December in its 19-year historySource: Financial Times - US homepage | 1 Mar 2010 | 2:03 pm Help Haiti. Or, At Least, Help Peru
A model shows off CFDA's Fashion for Haiti t-shirt. (Stephen Lovekin/Getty Images) By Adam Davidson There's a bit of angry buzz among Haiti's apparel manufacturers about a possibly misplaced effort to help. The Council of Fashion Designers of America launched the Fashion For Haiti campaign, "the American fashion industry's nation-wide response to the January 12 earthquake in Haiti." You can buy a Fashion For Haiti t-shirt for $25 and "net proceeds" will go to the Clinton Bush Haiti Fund. Only thing: the t-shirts were manufactured in ... Peru. And that's what's got some people in Haiti pretty ticked off. As listeners to the podcast know, most observers see the apparel manufacturing sector as Haiti's main economic growth possibility. And what the country really wants to make is t-shirts. "I'm not angry, I'm just smiling at the irony," said Georges Sassine, president of Haiti's main industrial association. "Here we are: 50 percent of our workers [in Haiti's apparel industry] are making t-shirts. And here you are making a t-shirt celebrating them, and you don't give them a chance to make the t-shirt." I emailed Steven Kolb, executive director of the Council of Fashion Designers of America, and asked why they didn't use Haitian manufacturers. "We basically put the campaign together in ten days," he said. "Theory manufactured the shirts for us so in order to have a quick turn around we decided to go with a factory that they were already familiar with." Kolb said that the industry plans to raise $1 million for Haiti by selling the shirts. For other projects, "US apparel companies will continue to use Haiti as a resource and many new companies will follow suit." Sassine said that Haiti's apparel manufacturers could have easily turned this project around in time. "Haiti does not need gifts," he said. "It needs an opportunity to earn its own keep. Give us work to do." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Mar 2010 | 2:02 pm NetSuite woos Microsoft resellers with commissions* To pay 100 pct of first year's revenue on 2-year contractSource: RSS feed - channel BNewsBusiness | 1 Mar 2010 | 2:00 pm Tesco Raised to `Neutral' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 1 Mar 2010 | 1:43 pm More Money: Warren BuffetSource: Business and financial news - CNNMoney.com | 1 Mar 2010 | 1:32 pm Goldman Sachs Has Heard What Shareholders Have To SayAnd while the suggestion that there be a say on Lloyd et al’s pay is adorable– really, so cute– management has decided that, instead of going with it, to keep things as they are. And while this exercise in pretending to care about your feelings was fun for just this once, next time you get it in your heads that anyone down here gives a rat’s ass what you think, about their packages or really anything for that matter, before you voice those concerns, what you should do instead is go fuck yourselves. One more word and LB’s 2010 pay is determined today– a unit. And he gets to bang your wives. Consider them banged! Anyone else wanna be a hero?
Goldman Rejects Shareholder Pay Demands [Dealbook via DI]
Source: Dealbreaker | 1 Mar 2010 | 1:01 pm Dear Dan Loeb NationFebruary performance is in.
Source: Dealbreaker | 1 Mar 2010 | 12:29 pm 10 Incredible Corporate Mergers That Will Never HappenThe mergers and acquisitions divisions of banks and law firms the world over have been rather quiet of late – might we suggest a few high profile deals to open the floodgates and get things truly going again (or at least give you a bit of a laugh during these bleak times…)10. Vodafone + Nokia = Vodkia |
| World : News Archives | Business | Entertainment | Sports | Technology | Science | Marketplace Audio |
| India : News | Business | Entertainment | Sports | Telugu | |
| Blogs : Humor pages | Norkay's Blog | Kids Stories | Indian Recipes | Database Tech Blog |
| Sundries : World Video Clips | Songs Clips | Indian Video Clips | |
Not because the bank was finally able to turn a profit– obviously it didn’t– but because it made remarkable strides to suck less than it did the year prior (witness a mere $1.6 billion loss for 2009 versus $27.7 billion), all thanks to Uncle Vikula. Unfortunately our Pandito is a man of his word, and when he pledged last February to only accept $1/year, wear a hair shirt and flirt with Meredith Whitney until he righted this bitch, he meant it. That doesn’t mean the board can’t let everyone know just how proud they are of their little Vickles, though.
