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Call for action on speculation rulesGermany and France are stepping up pressure for urgent EU action to tighten regulation in sovereign debt markets – in particular of credit default swaps – in the wake of the Greek crisisSource: Financial Times - US homepage | 10 Mar 2010 | 3:16 am BA, American, Iberia to cede airport slots (AP)AP - British Airways, American Airlines and Iberia have offered to give away takeoff and landing slots at London and New York airports to soothe European Union antitrust worries, EU regulators said Wednesday.Source: Yahoo! News: Business News | 10 Mar 2010 | 3:13 am Tentative tone takes hold as investors seek directionGlobal Markets Overview: FTSE All-World index remains becalmed near six-week highs, with stock investors reluctant to push riskier assets higher without a fresh catalystSource: Financial Times - US homepage | 10 Mar 2010 | 3:13 am UK bank fraud 'moves to internet'Fraudsters are continuing their switch from traditional card fraud to raiding online bank accounts, research suggests.Source: BBC News | Business | World Edition | 10 Mar 2010 | 3:12 am Budget in two weeks, Darling saysThis year's Budget will be held on Wednesday 24 March, Chancellor Alistair Darling confirms.Source: BBC News | Business | World Edition | 10 Mar 2010 | 3:10 am China's trade surplus shrinks further in FebruaryChina’s trade surplus narrows in February to $7.6 billion from $14.2 billion in January because of soaring imports.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 3:08 am China Exports Surge 46%, But Who Buys The Goods?China’s exports rose 46% in February compared with the same month a year ago which elicited more concerns about whether its economy has begun to overheat. The news was reported by the Chinese customs agency which also said that imports were up 45%. The news raised the old lament that China should now let its currency rise to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Mar 2010 | 3:07 am OECD: gov'ts must cut deficits, boost regulation (AP)AP - Rich countries must strengthen financial market regulation and bring down their oversized government deficits, two of the biggest new challenges to have arisen from the global economic crisis, the OECD said Wednesday.Source: Yahoo! News: Business News | 10 Mar 2010 | 3:04 am Economic storm not over, says PMGordon Brown warns of economic storms ahead but vows not to "let you down" as the date of the Budget is announced.Source: BBC News | Business | World Edition | 10 Mar 2010 | 3:01 am Tullett Prebon shares surge on takeover hopesShares in U.K. interdealer broker Tullett Prebon jump as much as 19% Wednesday after the company says it is in preliminary talks that could lead to a takeover bid.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 3:00 am Cathay Pacific returns to profitCathay Pacific reports a return to full-year profit as cost cutting and bets on the price of fuel pay off.Source: BBC News | Business | World Edition | 10 Mar 2010 | 2:59 am London Markets: Interdealer brokers sparkle in steady U.K. sessionTakeover talk boosts interdealer-brokers in a relatively flat session for the British share market on Wednesday, with Tullett Prebon soaring after it says it has been approached by a third party.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 2:57 am UK industrial output falls backIndustrial production in the UK fell unexpectedly in January, official data has shown.Source: BBC News | Business | World Edition | 10 Mar 2010 | 2:52 am UK budget due in 2 weeks, paving way for election (AP)AP - British Prime Minister Gordon Brown said Wednesday that his government will lay out its budget plans on March 24, paving the way for a national election.Source: Yahoo! News: Business News | 10 Mar 2010 | 2:51 am Northern Rock sees reduced lossesNorthern Rock says that it made "good progress" in 2009, after reporting a sharp fall in its annual losses.Source: BBC News | Business | World Edition | 10 Mar 2010 | 2:48 am Insurers' Chile quake hit won't up pricesMUNICH/ZURICH (Reuters) - Last month's huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world's top two reinsurers said, but it looks unlikely to raise reinsurance prices.
Source: Reuters: Business News | 10 Mar 2010 | 2:43 am Budget to be held on March 24The Prime Minister Gordon Brown has said the Budget will be delivered on March 24, in what will be one of the most hotly anticipated statements since Labour came to power.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Mar 2010 | 2:41 am Strong China trade data point to rise in yuanBEIJING (Reuters) - Chinese exports and imports grew faster than expected in February, underlining the momentum behind the world's third-largest economy and reinforcing the case for a rise in the yuan.
Source: Reuters: Business News | 10 Mar 2010 | 2:41 am E.On 2009 net income up sharply to $11.4 billion (AP)AP - Germany energy company E.On AG said Wednesday that 2009 net income rose sharply to euro8.4 billion ($11.4 billion) partly as a result of the disposal of assets.Source: Yahoo! News: Business News | 10 Mar 2010 | 2:41 am Swiss Re, Munich Re face $500 mln losses in ChileEuropean reinsurance giants Swiss Re and Munich Re on estimate they will be hit by losses of $500 million or more each from the earthquake in Chile, while the insurance industry as a whole is likely to face a bill of between $4 billion and $7 billion.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 2:39 am Green homes face a red lightLots of people, especially those trying to battle high utility bills, believe in energy-efficient homebuilding.Source: Business and financial news - CNNMoney.com | 10 Mar 2010 | 2:38 am 12 ways to cut your tax billThe bright spot of the dreary 2009 economy: savings for everyone.Source: Business and financial news - CNNMoney.com | 10 Mar 2010 | 2:35 am Economic Report: German exports unexpectedly drop in JanuaryGermany’s exports unexpectedly declined in January compared to the previous month, official data showed on Wednesday, highlighting risks of a bumpy recovery in Europe’s largest economy.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 2:35 am Lone Star revives Korea Exchange Bank saleLone Star, the US private equity group, plans to resume selling its 51 per cent stake in Korea Exchange Bank, worth Won4,400bn at current market pricesSource: Financial Times - US homepage | 10 Mar 2010 | 2:34 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 | 10 Mar 2010 | 2:31 am Fiscal issues hit euro, sterling; stocks flatLONDON (Reuters) - Concerns over Europe's fiscal problems hit the euro and sterling on Wednesday, while world stocks hovered near their recent six-week highs, though they were still up 66 percent from a low hit one year ago.
Source: Reuters: Business News | 10 Mar 2010 | 2:30 am Fiscal issues hit euro, sterling; stocks flat (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Mar 2010 | 2:30 am Can Ford's stock keep up its hot streak?Ford is back. The automaker recently reported its first annual profit in four years; sales are improving; and investors have pushed up its stock 550% in the past year.Source: Business and financial news - CNNMoney.com | 10 Mar 2010 | 2:27 am Runaway Prius driver: Brakes were 'almost burned'Before he called 911, James Sikes says he reached down with his hand to loosen the "stuck" accelerator on his 2008 Toyota Prius, his other hand on the steering wheel. The pedal didn't move.Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 2:27 am Runaway Prius driver: Brakes were 'almost burned' (AP)
Source: Yahoo! News: Business News | 10 Mar 2010 | 2:27 am Amish farmer wins fight over registering livestockAn Amish livestock farmer who refused to follow a 2005 Wisconsin law requiring him to register his land and livestock has won a legal battle with state regulators. Clark County Circuit...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 2:25 am Brown confirms date for pre-election BudgetGordon Brown today confirmed that the Budget will be in two weeks' time on March 24, making it almost certain the general election will be held on May 6. Source: Latest Business News from Times Online | 10 Mar 2010 | 2:23 am UK budget due in 2 weeks, paving way for electionBritish Prime Minister Gordon Brown says the government will lay out its budget plans on March 24, paving the way for a national election. The election must be held by early June at the...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 2:22 am On Nasdaq Peak Holiday, Shorts Exit Tech And Junk StocksOn the tenth anniversary of the tech bubble of 2000, short sellers aggressively dropped their bets against hardware, software and internet companies. Figures are from February 28. The short interest in Apple (AAPL) fell 15% to 17.3 million shares. Shares short in Microsoft (MSFT) were down 5% to 53 million. The short interest in Amazon (AMZN) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Mar 2010 | 2:15 am Oil drifts near $81 amid mixed US inventory dataOil prices drifted down to near $81 a barrel Wednesday in Asia after a report showed mixed evidence about U.S. crude demand. Benchmark crude for April delivery was down 38 cents to...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 2:07 am Oil drifts near $81 amid mixed US inventory data (AP)
Source: Yahoo! News: Business News | 10 Mar 2010 | 2:07 am 10 biggest flops of the dot.com bubbleIt's been exactly 10 years since the Nasdaq hit its all-time high. CNNMoney.com takes a look at the biggest busts of the dot.com bubble.Source: Business and financial news - CNNMoney.com | 10 Mar 2010 | 2:06 am Energy crystals under the seaIt looks like ice -- but this ice could one day be used to heat your home.Source: Business and financial news - CNNMoney.com | 10 Mar 2010 | 2:05 am BA, American, Iberia to cede airport slotsEU regulators say British Airways, American Airlines and Iberia are offering to give away take-off and landing slots at London and New York airports to soothe European Union antitrust...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 2:03 am Europe Markets: Construction firms add pressure in muted EuropeEuropean shares continued this week’s muted moves on Wednesday, with losses from construction stocks and banking group Barclays pressuring.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 2:02 am Loss-making Northern Rock to give staff £15m bonusNorthern Rock, the state-owned bank bailed out with £26 billion in taxpayers’ funds, will share a £14.9 million bonus among its staff despite running up a loss over 2009. Source: Latest Business News from Times Online | 10 Mar 2010 | 2:01 am Infosys says outsourcing deal pipeline improving (Reuters)
Source: Yahoo! News: Business News | 10 Mar 2010 | 2:00 am How to beat online banking fraudAs internet banking fraud rises, we explain how to protect your money from the criminals.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Mar 2010 | 1:54 am Media Digest 3/10/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Democrats may miss their goal to vote on healthcare reform. Reuters: China exports rose 46% in February. Reuters: China’s Geely raised money to buy Volvo. Reuters: Strong Chinese trade data made the case for a firmer yuan. Reuters: AIG (AIG) came up with a new formula for employee bonuses. Reuters: A group of economists cut their 2011 growth forecasts [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Mar 2010 | 1:54 am Northern Rock defends bonuses despite lossNorthern Rock chief executive Gary Hoffman has defended paying staff bonuses despite the mortgage lender failing to make a profit last year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Mar 2010 | 1:53 am Stocks muster gainsStocks managed gains Tuesday at the end of a choppy session as investors mulled the latest corporate deal and profit news on the anniversary of the bear-market bottom.Source: Business and financial news - CNNMoney.com | 10 Mar 2010 | 1:50 am Nationalized UK bank Northern Rock back in profit (AP)AP - Nationalized mortgage lender Northern Rock said Wednesday that it returned to profit in the second half of 2009 as interest income rose and losses on loans fell.Source: Yahoo! News: Business News | 10 Mar 2010 | 1:47 am World stocks little changed as China exports surge (AP)
Source: Yahoo! News: Stock Markets News | 10 Mar 2010 | 1:47 am World stocks little changed as China exports surge (AP)
Source: Yahoo! News: Business News | 10 Mar 2010 | 1:47 am World stocks little changed as China exports surgeWorld stock markets were little changed Wednesday even as surging Chinese exports pointed to a pickup in global trade. Asia's major indexes were mixed as many markets fluctuated for the...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 1:47 am Currencies: Dollar rises as German trade data disappointThe dollar gets a lift against the euro Wednesday as trade data from Germany come in worse than expected.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 1:46 am German inflation drops to 0.6 pct in FebruaryAnnualised German inflation edged lower to 0.6 percent in February from 0.8 percent the previous month, figures released on Wednesday by the national statistics office showed. The resultSource: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 1:41 am Standard Life enjoys profit boostInsurance firm Standard Life reports better-than-expected profits and unveils plans for a further cost-cutting.Source: BBC News | Business | World Edition | 10 Mar 2010 | 1:39 am China's exports see big increaseChina's exports surged 46% in February, figures show, raising hopes of a strong recovery in global trade.Source: BBC News | Business | World Edition | 10 Mar 2010 | 1:36 am FTSE 100 shares slip in early trade (AFP)
Source: Yahoo! News: Stock Markets News | 10 Mar 2010 | 1:32 am JC Decaux net profit plunges in tough 2009 for adsFrance's JC Decaux, the biggest outdoor advertising group in Europe and Asia, said on Wednesday its net profit plunged in 2009 during the "worst advertising downturn on record." The...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 1:31 am Business Bullet: Asia, Greece, Swiss Re, TullowThe latest news on: Asia, Greece, Swiss Re, TullowSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Mar 2010 | 1:30 am China plans new trade office as global disputes grow: sourcesBEIJING/GENEVA (Reuters) - China is setting up a new agency to help streamline its trade negotiating bureaucracy as the world's third-largest economy faces a growing number of commercial disputes.
Source: Reuters: Business News | 10 Mar 2010 | 1:25 am Asia Markets And Europe Open (3/10/2010)Msrkets in Asia were narrowly mixed. The Nikkei rose a fraction to 10,564. Toyota (TM) fell. The Hang Seng rose .1% to 21,219. The Shanghai Composite was down 1% to 3,050. At the open in Europe, the FTSE dropped .2% to 5,592. Barclays (BCS) fell. The DAX was off .2% 5,876. The CAC 40 fell .1% to 3,606. Data from [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Mar 2010 | 1:24 am UK's Brown warns of new economic woesBritish Prime Minister Gordon Brown warns that the U.K. may suffer another economic downturn, including a possible dip back into recession. In a speech Wednesday Brown will say "there...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 1:24 am Highlights of Senate jobless aid bill (AP)AP - Highlights of Senate legislation extending unemployment insurance and expired tax breaks:Source: Yahoo! News: Business News | 10 Mar 2010 | 1:19 am Highlights of Senate jobless aid bill_Tax relief: Extends through 2010 a variety of popular tax breaks that expired at the end of 2009, including an individual income tax deduction for sales and property taxes, and a business...Source: RSS feed - channel BNewsBusiness | 10 Mar 2010 | 1:19 am Gunmen attack US aid agency in PakistanSuspected Islamist militants have attacked the office of a US-based Christian aid agency in Pakistan with a bomb and gunfire, killing 5 people, police saySource: Financial Times - US homepage | 10 Mar 2010 | 1:12 am BAA reports first rise in passengers for a yearBAA, the airports operator, has recorded its first increase in domestic passenger numbers in two years as the improving economy has encouraged people to start flying again. Source: Latest Business News from Times Online | 10 Mar 2010 | 1:12 am Chuck Jaffe: Senate won't act in investors' best interestsOn behalf of Main Street investors everywhere, here’s a message for the United States Senate: Thanks for nothing.
Source: MarketWatch.com - Top Stories | 10 Mar 2010 | 1:11 am Stocks rise after financial stocks jump on rumorsNEW YORK -- A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am Runaway film production is the star of this movieIn a North Hollywood studio, actor Jack McGee is stripped down to his boxers, his legs duct-taped to a chair in a room draped in plastic sheets. He's not playing his best-known role of Chief Jerry Reilly in the TV series "Rescue Me" but the unlucky owner of a nightclub, sweating profusely as a mobster and his goons threaten to cut off his legs with a chain saw.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am Battle heats up over Southern California Gas smart meter proposalSoCalGas says the radio-controlled meters will help customers save money. But critics denounce the plan as a boondoggle, contending the costs far outweigh the benefits.Natural gas consumers could pay more than $1 billion to put radio-controlled smart meters on their homes, even though an agency judge has ruled that the proposal by Southern California Gas Co. is a money loser.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am Furniture maker's financial cushion is worn thinCredit used to grease Gina Quatrine's business, but now the freeze gums it up.Gina Quatrine declared that her furniture factory was a "true old-fashioned European workshop" -- which seemed a bit incongruous, given that we were standing on a concrete shop floor in an industrial neighborhood of Rancho Dominguez.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am MySpace looks to the past for its futureThe social networking site plans to return to its roots by pushing entertainment content and jettisoning portal-like features.In a last-ditch effort to revive struggling MySpace, owner News Corp. has adopted a new strategy that it hopes will give the site's millions of users a reason to keep coming back.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am Furniture maker's financial cushion is worn thinCredit used to grease Gina Quatrine's business, but now the freeze gums it up. Gina Quatrine declared that her...Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am Recovery emerging from U.S. factoriesManufacturing booms, but its importance to the overall economy has diminished. Improbable as it seems, the brightest...Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am Runaway film production is the star of this movieIn a North Hollywood studio, actor Jack McGee is stripped down to his boxers, his legs duct-taped to a chair in a room draped in plastic sheets. He's not playing his best-known role of Chief Jerry Reilly...Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am Runaway Prius driver: 'I was laying on the brakes but it wasn't slowing down'Regulators and Toyota say they'll investigate James Sikes' wild ride east of San Diego, where he reached speeds of 90 mph weaving in and out of traffic before a CHP officer came to his aid.James Sikes bought his Toyota Prius in 2008, and 53,000 miles later the car was driving fine. But on Monday afternoon, when he accelerated to pass another vehicle on Interstate 8 east of San Diego, the car kept going.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am Recovery emerging from U.S. factoriesManufacturing booms, but its importance to the overall economy has diminished.Improbable as it seems, the brightest spot so far in the nation's spotty economic recovery is a sector long considered all but dead -- good-old-fashioned manufacturing.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am Stocks rise after financial stocks jump on rumorsNEW YORK -- A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing.Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am LifeLock settles FTC and state allegations that it misled consumersThe company agrees to pay $12 million and to tone down claims about the effectiveness of its identity-theft protection service. ...Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am Battle heats up over Southern California Gas smart meter proposalSoCalGas says the radio-controlled meters will help customers save money. But critics denounce the plan as a boondoggle, contending the costs far outweigh the benefits. ...Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am Runaway Prius driver: 'I was laying on the brakes but it wasn't slowing down'Regulators and Toyota say they'll investigate James Sikes' wild ride east of San Diego, where he reached speeds of 90 mph weaving in and out of traffic before a CHP officer came to his aid. ...Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am LifeLock settles FTC and state allegations that it misled consumersThe company agrees to pay $12 million and to tone down claims about the effectiveness of its identity-theft protection service.Its chief executive prominently displays his Social Security number in ads for his identity-theft protection company. But LifeLock Inc. couldn't protect customers from the company's own misleading advertising, according to state and federal authorities.
Source: L.A. Times - Business | 10 Mar 2010 | 1:00 am MySpace looks to the past for its futureThe social networking site plans to return to its roots by pushing entertainment content and jettisoning portal-like features. ...Source: RSS feed - channel BNPaperBusiness | 10 Mar 2010 | 1:00 am Oil slips for 2nd day before U.S. inventoriesSINGAPORE (Reuters) - Oil fell toward $81 a barrel on Wednesday in volatile trade as expectations for a gain in U.S. crude stockpiles offset surging Chinese imports.
Source: Reuters: Business News | 10 Mar 2010 | 12:59 am Insurers 'face $7bn Chile bill'The earthquake in Chile may cost the global insurance industry as much as $7bn (£4.7bn), Swiss Re estimates.Source: BBC News | Business | World Edition | 10 Mar 2010 | 12:57 am China's Geely secures financing to buy Volvo: reportSTOCKHOLM (Reuters) - The parent of China's Geely Automobile has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday.
Source: Reuters: Business News | 10 Mar 2010 | 12:40 am Gordon Brown to warn economic 'storm' not yet overPrime Minister promises to pull the economy out of the ''storm'', but insists recovery depends on holding to present course.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Mar 2010 | 12:30 am NZ market posts gains in quiet tradingThe New Zealand sharemarket rose today, following a decline yesterday after nine consecutive days of gains."It was a good performance by the local market considering there were flat performances offshore," said Grant Williamson,...Source: nzherald.co.nz - Business | 9 Mar 2010 | 11:31 pm Companies' appetite for investing in Britain is being sucked dryMore evidence that Labour can't rely on tax revenues from a recovering economy came with Tuesday's export figures - dismal. A fall back into negative growth looks highly likely, just in time for the election.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Mar 2010 | 11:25 pm Economic Report: Ceridian diesel fuel index falls sharplyHeavy snow slowed the movement of goods across the nation in February, according to a gauge tracking diesel fuel purchased by trucking companies.
Source: MarketWatch.com - Top Stories | 9 Mar 2010 | 11:18 pm AIG devises new formula for employee bonuses: report(Reuters) - American International Group Inc has formulated a new "forced ranking" system to determine bonuses and rate employee performance, Wall Street Journal said, citing people familiar with the matter.
Source: Reuters: Business News | 9 Mar 2010 | 10:56 pm Economists trim 2011 U.S. growth forecastWASHINGTON (Reuters) - U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.
Source: Reuters: Business News | 9 Mar 2010 | 10:40 pm China export growth beats estimatesChinese exports rose 45.7 per cent in February from the same month a year earlier, beating forecasts and providing fresh evidence of a robust recovery in an economy poised to overtake JapanSource: Financial Times - US homepage | 9 Mar 2010 | 10:35 pm Dollar rises ahead of monetary policy statementThe New Zealand dollar rose today as traders squared up positions ahead of tomorrow's monetary policy statement by the Reserve Bank of New Zealand.The NZ dollar was at US70.63c at 5pm and rose as high as US70.69c during the domestic...Source: nzherald.co.nz - Business | 9 Mar 2010 | 10:25 pm Tax Tips: A Tip for Small-Business Owners (Tax Tips)Don't forget about the depreciation write-off on new equipment.
Source: SmartMoney.com | 9 Mar 2010 | 10:00 pm Financial markets now 'back to normal' says EnglishNew Zealand's financial markets are "back to normal" and government guarantees for banks, set up during the global financial crisis, will be phased out at the end of next month, says Finance Minister Bill English.Speaking at the...Source: nzherald.co.nz - Business | 9 Mar 2010 | 9:00 pm Queensland picks banks for A$7bn rail IPOThe Queensland state government has appointed five banks to run a A$7bn (US$6.4bn) share float of Queensland Rail's coal and freight arm, expected to be Australia's biggest initial public offering this...Source: RSS feed - channel BNPaperBusiness | 9 Mar 2010 | 8:43 pm NZ terms of trade up 5.7 per cent in December quarterA 5.7 per cent surge in New Zealand's terms of trade in the December quarter, as import prices fell much further than export prices, is seen as more evidence that the recovery is rebalancing towards production.The increase in...Source: nzherald.co.nz - Business | 9 Mar 2010 | 8:30 pm BofA ending overdraft fees on debit cardsNEW YORK/CHARLOTTE, North Carolina (Reuters) - Bank of America said on Tuesday it will no longer charge overdraft fees on debit card purchases as of this summer, a move that may cost millions in fee income.
Source: Reuters: Business News | 9 Mar 2010 | 8:17 pm Auto stocks face an uncertain roadToyota's woes have helped put Ford's shares in the fast lane, but both firms are trading only at their levels of five years ago. Even the strongest carmakers face competitive and economic challenges.Is it safe to drive off in an auto stock?
Source: L.A. Times - Business | 9 Mar 2010 | 8:15 pm Auto stocks face an uncertain roadToyota's woes have helped put Ford's shares in the fast lane, but both firms are trading only at their levels of five years ago. Even the strongest carmakers face competitive and economic challenges. ...Source: RSS feed - channel BNPaperBusiness | 9 Mar 2010 | 8:15 pm FAI Money closes deposit book and repays investorsFAI Money, a finance company owned by Eric Watson and Mark Hotchin and once part of the Hanover Group, has told investors it will repay them early and will no longer take deposits as of March 22.A letter to debenture holders says:...Source: nzherald.co.nz - Business | 9 Mar 2010 | 8:00 pm Job ads rise on Seek, applications up even fasterNew job advertisements placed on the website of employment company Seek reached the highest level for a year in February.The 12,700 new ads last month were the most since January 2009, Seek New Zealand general manager Annemarie...Source: nzherald.co.nz - Business | 9 Mar 2010 | 7:45 pm CFTC urges end to derivatives secrecyA leading US financial regulator called for the prices of derivatives trades to be disclosed in the same way as stock prices, saying only large Wall Street banks benefited from the current lack of transparencySource: Financial Times - US homepage | 9 Mar 2010 | 6:05 pm £10m to get students into sportUniversities are to be given £10m of National Lottery money to encourage more students to get involved in sport.Source: BBC News | Business | World Edition | 9 Mar 2010 | 5:56 pm American Millionaires And The Search For WorkThe statisticians who occasionally cough up data on employment posted two new sets of numbers today. The first was the traditional monthly report from the BLS called “The Job Openings and Labor Turnover Summary”. Job openings at the end of January in the public and private sector rose by 173,000 to a seasonally adjusted 2.7 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Mar 2010 | 5:51 pm Half of KiwiSavers wrongly believe in Govt guarantee: surveyA new survey shows many KiwiSaver members have a false sense of security about their investments, research company UMR says.In its latest survey of 750 New Zealanders aged 18 and over, almost half of all KiwiSaver members wrongly...Source: nzherald.co.nz - Business | 9 Mar 2010 | 5:30 pm SEC chief economist leaving (AP)AP - The chief economist of the Securities and Exchange Commission, who is an expert on the financial instruments that figured largely in the 2008 crisis, is leaving his position for the private sector.Source: Yahoo! News: Stock Markets News | 9 Mar 2010 | 5:25 pm Alistair Darling 'to announce date of the budget'Alistair Darling is to announce the date of the budget this morning, the Treasury has disclosed.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Mar 2010 | 5:11 pm Unite union tables last-minute deal to avert crippling BA cabin crew strikeBritish Airways will today respond to a last-minute offer by the Unite union that could prevent a cabin crew strike, according to sources close to the talks . Source: Latest Business News from Times Online | 9 Mar 2010 | 5:01 pm Investigators to look into Toyota incidentFederal safety investigators in the US are sending a technical specialist to investigate a Toyota Prius car that reportedly accelerated out of control on a California freeway on Monday. Source: Latest Business News from Times Online | 9 Mar 2010 | 5:01 pm Bob Ayling, chairman-elect of Welsh WaterIf Bob Ayling knows anything, he knows how difficult it can be to restore a reputation after it has been severely bruised. Source: Latest Business News from Times Online | 9 Mar 2010 | 5:01 pm Generating international appeal with GDF Suez talksIt is nearly two months since International Power admitted that merger talks with GDF Suez were off. But from a glance at the generator’s share price — up a further 7 per cent since then — you’d be forgiven for not noticing. Source: Latest Business News from Times Online | 9 Mar 2010 | 5:01 pm Forget manufacturing, the future is food, says Sainsbury’s bossSainsbury’s and Asda are setting up landmark schemes to train apprentices and sell the food retail industry as a career choice. Source: Latest Business News from Times Online | 9 Mar 2010 | 5:01 pm Law firms prepare to float on the stock marketCity law firms are preparing to raise millions of pounds from external investors as the British legal market braces for its own version of Big Bang. Source: Latest Business News from Times Online | 9 Mar 2010 | 5:01 pm Murdoch says Middle East must reject censorshipThe Middle East must open up its markets to foreigners and renounce media censorship if it wants to harness a “powerful wind” of creative energy blowing through the region, Rupert Murdoch said yesterday. Source: Latest Business News from Times Online | 9 Mar 2010 | 5:01 pm Petrol at 'uncomfortable price point' after hike - AAShell and Mobil have increased their petrol and diesel prices by 3 cents per litre this afternoon, bringing the price of fuel to its highest level in 18 months.Both companies reviewed their prices after BP and Caltex hiked the...Source: nzherald.co.nz - Business | 9 Mar 2010 | 5:00 pm Cisco leapfrogs rivals with faster routerNEW YORK (Reuters) - Cisco Systems Inc introduced its first major new routers in six years and said they can be configured to handle Internet traffic up to 12 times faster than rival products.
Source: Reuters: Business News | 9 Mar 2010 | 4:54 pm Boeing says 787 testing going wellBoeing is putting its new 787 through an aggressive flight-testing schedule, with the fourth plane set to begin test flights on Sunday.Boeing is aiming to deliver the plane to its first customer by the end of this year. By midyear...Source: nzherald.co.nz - Business | 9 Mar 2010 | 4:30 pm NZ sharemarket lifts earlyThe New Zealand sharemarket rose early today, following a decline yesterday after nine consecutive days of gains.Telecom gained 2c early to $2.23, but another leading share, Fletcher Building, fell 2c to $8.08, and Contact Energy...Source: nzherald.co.nz - Business | 9 Mar 2010 | 4:14 pm Fifth Street Finance, Value Investing, Pay TV: Taking StockSource: Bloomberg - All Podcasts | 9 Mar 2010 | 4:11 pm Summary Box: Gains slow after big year for stocks (AP)AP - A YEAR LATER: The Dow Jones industrial average is up 61.4 percent since it closed at a 12-year low of 6,547 on March 9, 2009. On paper, U.S. stocks have gained about $5.7 trillion but are still down about $5.5 trillion from the peak in October 2007.Source: Yahoo! News: Stock Markets News | 9 Mar 2010 | 4:10 pm How the major stock indexes fared on Tuesday (AP)AP - Financial companies led stocks higher Tuesday on the one-year anniversary of the market's hitting a 12-year low. The gain in bank stocks came as traders reacted to rumors that the government might prohibit the trades known as short sales in the stocks of companies it owns. Such a move would be aimed at preventing sharp drops in stocks including Citigroup Inc. and American International Group Inc.Source: Yahoo! News: Stock Markets News | 9 Mar 2010 | 4:03 pm Stock investors ask: What's the next big thing? (AP)
Source: Yahoo! News: Stock Markets News | 9 Mar 2010 | 4:00 pm Kroger, Ruby Tuesday, UAL are big movers (AP)AP - Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 9 Mar 2010 | 3:58 pm Nestle Raised to `Overweight' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 9 Mar 2010 | 3:56 pm Regulators tell US banks to hold fundsUS regulators have told banks not to increase dividends or buy back shares until political and economic uncertainty surrounding the industry dissipates, in a move that will delay by months the return of capital to shareholdersSource: Financial Times - US homepage | 9 Mar 2010 | 3:30 pm Government's plan to cut the deficit is lacking something ... the cutsMany dismal scientists have, of late, predicted a sterling crisis if Britain acts quickly to address its appalling public deficit - none more so than those at UBS.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Mar 2010 | 3:18 pm Apple shares hit record, sail past $200BSource: Business and financial news - CNNMoney.com | 9 Mar 2010 | 3:16 pm Limo Driver Turned Hedge Fund Manager Pleads GuiltyAlan Fishman, the limo driver-cum-hedge fund manager president who admitted last year to screwing AR Capital investors just a little bit, has pleaded guilty to fraud (Fishman had caught the investing bug while driving around a bunch of investment bankers and lawyers, and decided one day to “take a crack at his customers’ game”).
Everything was going pretty okay until one rat-bastard of a client had to come to New York and request a meeting, which was held in a deli. That’s when things started to go downhill. Now, Crain’s reports, Fishman has pleaded guilty to conspiracy to commit securities fraud (and is scheduled to be sentenced on June 18), and has ruined it for all the legit cabbie turned hedge fund managers out there. One bad seed– all it takes. Limo driver-turned-hedge fund fraudster admits guilt [Crain's via BI] 
 Source: Dealbreaker | 9 Mar 2010 | 3:15 pm Merlin gets back on IPO rollercoaster as results jumpMerlin Entertainments, owner of Madame Tussauds and the London Eye, said a 10pc jump in visitor numbers and double-digit growth in annual earnings had re-ignited hopes for a £2bn stock market listing.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Mar 2010 | 3:08 pm Liberty demerges to tackle changing property marketThe owner of Covent Garden and the Lakeside shopping centre has unveiled plans to demerge into two businesses, claiming there is a "changing approach" to investment in UK property.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Mar 2010 | 3:08 pm I.D. theft company settles for false claimsFederal regulators said Tuesday that LifeLock has agreed to pay $12 million to settle charges the company made deceptive claims about its ability to protect customers from identity theft.Source: Business and financial news - CNNMoney.com | 9 Mar 2010 | 3:03 pm Trish Regan’s Diet Tips You're just 9 months and one set of breast pumps away from this. Trish Regan’s been look pretty good lately, no? Especially for a woman who just gave birth a few months ago? I’m sure you’ve noticed, as has John Carney, who needed to know more. The crack journalist did some digging and found out that you, too, can look like this, by incorporating a few simple tricks into your diet: cut out food, and breast feed twins (it burns a ton of calories and keeps you honest). Regan has lost over 45 pounds on the plan. Tomorrow, we reveal how Kudlow maintains his 30-inch waistline. You’re not gonna wanna miss this.
Source: Dealbreaker | 9 Mar 2010 | 3:00 pm SEC sues ex-NY loan trader over alleged kickbacks (Reuters)Reuters - A former stock loan trader at Morgan Stanley and Bank of America Corp in New York received well over $100,000 of cash kickbacks by steering orders to other brokerage firms, the U.S. Securities and Exchange Commission said in a lawsuit filed on Tuesday.Source: Yahoo! News: Stock Markets News | 9 Mar 2010 | 2:49 pm Telecoms lead Wall St rise a year after market bottom (Reuters)
Source: Yahoo! News: Stock Markets News | 9 Mar 2010 | 2:44 pm Bill Gates To “Top” Warren Buffett Tomorrow? And the guy behind me goes, 'Hey hon, don't forget the coffee!' Tomorrow, Forbes will release its annual list of the richest billionaires in the world. Who will take the number one and two spots? The CNBC brain trust has crunched some numbers and is guessing it’ll be Gates, followed by Buffett. This is all pretty upsetting to everyone in the Oracle’s camp, as it would mark the second year in a row WB came in second place. Earlier: Folksy Business Wisdom/Abberrant Sex Fetishes– Warrent Buffett’s Greatest Hits
Source: Dealbreaker | 9 Mar 2010 | 2:31 pm NASDAQ Short Interest Surprise, Down But UpWe just saw some mixed data from the NASDAQ over the short selling data for the February 26, 2010 settlement date. NASDAQ released data after the close today noting that its short interest in 2,418 listed NASDAQ Global Market securities came to a total of 6,766,241,351 shares versus a level of 6,778,298,546 shares in 2,421 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Mar 2010 | 2:29 pm Cisco's ultra-fast laneCisco unveiled a new Internet technology Tuesday that it says will provide the ultra-fast data speeds necessary to stay ahead of users' rapidly growing online video demands.Source: Business and financial news - CNNMoney.com | 9 Mar 2010 | 2:26 pm Budget squeeze sours jobs pictureAnother big employer is hanging out the "Not Hiring" sign.Source: Business and financial news - CNNMoney.com | 9 Mar 2010 | 2:23 pm Podcast: We Bought A Toxic Asset!
We bought. (David Kestenbaum/NPR) On today's Planet Money: Remember toxic assets? Those insanely complicated bonds that almost brought down the financial system? We bought one. We thought it would help us figure out how the housing bust is playing out. So we pooled our own money, about $1,000 in total. We sent David and Chana out to Kansas City, where a former Wall Street guy named Wit Solberg who evaluates toxic assets for his clients and sometimes buys the assets himself. Wit sold them a sliver of a toxic asset he'd bought for $36,000. It was marked down from the pre-crash price of $2.7 million. Of course, it's marked down for a reason. About 15% of the homes in the bond are in foreclosure, and nearly half are behind on their payments. The foreclosures will continue to mount, and at a certain point our asset will be wiped out. But until then, we'll get monthly payments. If we make it to Thanksgiving, we could double our money. (We'll be giving any profits to charity, by the way.) We'll have a lot more on this later this week, including a radio story and some Web tools that will let you see how our asset is doing. Download the podcast, or subscribe. Music: Kenny Loggins's "Highway to the Danger Zone." Find us: Twitter/ Facebook/ Flickr. Note: Some information in the photo was intentionally blurred. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 9 Mar 2010 | 2:01 pm Top SEC Economist James Overdahl QuitsApparently he’d had it with the commission’s freaky ass rules. Publicly, he’s talking about the ones relating to short selling, though odds are he wasn’t thrilled about this shit, either.
Source: Dealbreaker | 9 Mar 2010 | 2:00 pm Barclays eyes large US bank dealThe UK banking group is looking at buying a large US retail bank as it tries to rebalance its business away from a booming investment banking franchiseSource: Financial Times - US homepage | 9 Mar 2010 | 1:58 pm Europe cries foul over US defence tenderEuropean countries have accused Washington of foul play after the continent’s largest aerospace and defence company pulled out of a multibillion-dollar race to supply the US military, alleging unfair competitionSource: Financial Times - US homepage | 9 Mar 2010 | 1:39 pm Techs reflect on decade since dotcom boomIn January 2000, 17 dotcom companies paid more than $2m each to advertise during the Super Bowl, the season-ending national championship game for American footbalSource: Financial Times - US homepage | 9 Mar 2010 | 1:37 pm AIG, Citi… From Chatter to Technical Move (AIG, C, FNM, FRE)American International Group, Inc. (NYSE: AIG) is seeing a significant trading event today. Today’s news is rumor-driven on top of related news-driven trading. What is odd is that there is now potentially more to this meets the eye. If you can believe it, AIG now looks like a technical breakout. The 50-day moving average is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Mar 2010 | 1:22 pm Presented By:Source: Dealbreaker | 9 Mar 2010 | 12:34 pm Lenny Dykstra Is Ready To Prove Himself To Society Some of the most respected members of society let Twizzlers dangle from their mouths. Fact. So, Lenny Dykstra has asked a judge to dismiss his bankruptcy case. Why? Nails has a reason.
Oh, okay $100 million in assets, that makes sense. LD has another good reason for his request, which is that he’d like to “once again claim his role as a productive member of society,” emphasis ours. He’s made a lot of strides in that direction, namely with the founding of a new firm, Nails Investments, but he really wants this scarlet ‘b’ taken off his chest. To that end, if the judge will do this for him, LD has promised to give up shitting on the floor and ripping bathroom fixtures out of people’s houses. And the crack. He’ll give up the crack, you can take that away right now. No wait, not, he’s not ready for that. Shoot is it too late? [Bites fist, pulls hair, wonders WHAT HAVE I DONE?]
Source: Dealbreaker | 9 Mar 2010 | 12:34 pm Exasperation with U.S. health careAuthor Lionel Shriver talks with Kai Ryssdal about her book, "So Much for That," in which the protagonist's plans for early retirement change when his wife gets cancer. She talks with Kai Ryssdal about the American way of health care, and putting a dollar value on human life.Source: Marketplace | 9 Mar 2010 | 11:09 am Certain Goldman Sachs Shareholders Still Don’t Get It The only way you're getting this money is through me. Last week, Goldman Sachs announced that the experiment wherein upper management acted like it cared what shareholders think, validated their feelings, took out the trash without having to be asked and so on and so forth was over. Not sure if The International Brotherhood of Electric Workers missed it in the 10-K or if they saw it and thought Lloyd and Co were just JK’ing (we assure you: they were not!) but here we are.
Goldman Sachs Sued By Big Pension Fund Over Pay [Reuters] Earlier: Goldman Sachs Sued By Shareholder Over Bonuses, Again
Source: Dealbreaker | 9 Mar 2010 | 11:06 am How to Save Money on Credit Card Processing
This is a guest post by Stella Fayman of TransFS.com. Unfortunately, most business owners pay much more than they should for the service. According The Merchant-Acquiring Side of the Payment Card Industry: Structure, Operations and Challenges (a Federal Reserve publication), businesses with less than $1M in credit card receipts per year pay between 0.69% and 1.82% more than the wholesale (interchange) price that Visa and Mastercard pay for transactions. Here are some tips to make sure your business gets the best deal: 1) Know what you’re talking about Do some research early on to get a handle on industry language. Know exactly what your business needs are. This will help screen out salespeople incapable of dealing your situation–who would end up costing you more anyway. For example, if you plan to use a certain POS system or need a certain internet gateway, be sure to mention that in the beginning of the process. 2) No cancellation fees allowed Make sure to read the fine print from your credit card processing contract. You may be surprised to find a cancellation fee from at least $250 to several thousand dollars. This fee is a way of guaranteeing your loyalty to the processor, regardless of your satisfaction with their service. The good news is that getting rid of this fee should not be a problem–most salespeople have the authority to waive it. To avoid this problem, talk to your salesperson. Make sure the fee is waived in writing either in the contract or as an amendment. Research shows that the best deal can be found by comparison shopping between at least five processors. However, make sure to compare on an apples-to-apples basis, and be sure each processor knows that you are actively shopping. You can easily make your bids more competitive by leveraging the power of comparison. Stella Fayman blogs for TransFS.com- the comparison shopping site for credit card processors. Much like plane ticket prices are compared on Expedia, TransFS lets business owners compare processors on an apples-to-apples basis. TransFS only includes processors without cancellation or hidden fees, and only interchange-plus pricing. Learn more about credit card processing on the TransFS blog: Financially Speaking.
Source: Business Pundit | 9 Mar 2010 | 11:00 am Bair Says Bankruptcy Should Be Failed Firms’ First Step: AudioSource: Bloomberg - All Podcasts | 9 Mar 2010 | 10:59 am Love America? Buy Mexican.Violence has put a strain on the Mexican economy and it has affected immigration in the U.S. How? Commentator Gustavo Arellano explains.Source: Marketplace | 9 Mar 2010 | 10:50 am A shift in young people's views on workA new survey says when it comes to finding work, job security has become the top priority for college students. Thanks to the recession, stability outranks pay and benefits. Amy Scott reports.Source: Marketplace | 9 Mar 2010 | 10:50 am A new TV watching experienceAdweekMedia's Jim Cooper talks with Kai Ryssdal about why Google is teaming with Dish Network to create a set-top box, and why there's a surge in 3-D TV sets.Source: Marketplace | 9 Mar 2010 | 10:50 am Justice Department stops health mergerThe Obama administration has blocked the merger of two Michigan insurers. The companies dropped their plans after the Justice Department threatened to sue. Nancy Marshall Genzer reports.Source: Marketplace | 9 Mar 2010 | 10:50 am Dow Jones rebounds from crisis lowA year ago, the stock market hit its low as the Dow closed at 6547. Now, the Dow's about 4,000 points higher and climbing. Jeremy Hobson reports.Source: Marketplace | 9 Mar 2010 | 10:49 am Debt crisis takes its toll on GreeksInvestors have been reassured by the Greek government's stringent deficit-reduction program. But the crisis is certainly not over, and it has left a bitter legacy in Greece. Stephen Beard reports.Source: Marketplace | 9 Mar 2010 | 10:49 am Lindsay Lohan Sues E-Trade. Sigh.
Actress Lindsay Lohan is suing E-Trade after recognizing herself in one of the company’s baby ads. The ad features a baby named Lindsay who steals boyfriends and is a known “milkaholic.” Lohan’s lawyer claims E-Trade used the actress’s “name and characterization” for business use without approval, according to the New York Post, which has more: The lawyer said that since the spot was seen by hundreds of millions of people watching the Super Bowl and Winter Olympics finals, the firm has garnered great profits. She says Lohan is owed $50 million in exemplary damages, plus another $50 million in compensatory damages. The ad — part of a series starring babies who play the stock market — features a boy apologizing to his girlfriend via video chat for not calling her the night before. “And that milkaholic Lindsay wasn’t over?” the baby girl asks him suspiciously. “Lindsay?” the boy replies, just before a baby girl sticks her head into the frame and slurs, “Milk-a-what?” Lohan’s lawyer, Stephanie Ovadia, said the actress has the same single-name recognition as Oprah or Madonna. “Many celebrities are known by one name only, and E-Trade is using that knowledge to profit,” Ovadia said. Too bad all the time, ego, and drugs it took to conceptualize this suit can’t be replaced by marketable acting skills…
Source: Business Pundit | 9 Mar 2010 | 10:34 am Cisco Beefs Up Internet Backbone With New Router
Cisco has unveiled a new $90,000 networking router with triple the capacity of its previous model. The Cisco CRS-3 Carrier Routing System will help the Internet’s backbone accommodate a new level of high-powered communications, including video. ZDNet has more: The device promises to more than 12 times the traffic capacity of the closest competing system, with up to 322 terabits per second. How fast is that? The company said it enables the entire printed collection of the Library of Congress to be downloaded in just over one second. In a Webcast announcement, CEO John Chambers talked about how changing needs drive this demand. This is about meeting the needs of a future generation of users, today’s kids who already see video and communications as part of our connected lives. This is also about verticals such as health care or education or government and their needs to not only connect to each other for enhanced communications but with their customers, as well. On a business front, this is about the technology that will change everything from virtualization to collaboration. That two-fer marketing message–business and consumer in the same breath (since video is as much as consumer play as it is a workplace medium)–is consistent with my long-time take on Cisco. As I put in Cisco Video Thrust Telegraphs Bandwidth-Bandit Strategy: “I think this blurring of the line between corporate and consumer networks will be something that all networking vendors will have to navigate in the coming few years. In this regard, Cisco is seemingly pacing the pack.”
Source: Business Pundit | 9 Mar 2010 | 10:13 am Crash Anniversary: DJIA’s 100% Gainers (BAC, AXP, AA, BA, CAT, DD, DIS, GE, HPQ, JPM, CSCO, MMM, MSFT, UTX)March 9, 2009 marked the absolute apex of selling and marked the official ending date of the bear market. At the time, many were expecting stocks to see gains because of grossly oversold conditions. Yet how many investors and traders would have guessed that so many major companies would see their stocks double and triple? [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Mar 2010 | 10:00 am Gold May Reach $1,300 an Ounce in 2010, Survey Shows: AudioSource: Bloomberg - All Podcasts | 9 Mar 2010 | 9:50 am Lindsay Lohan Is Suing E*Trade For Basing Whore-Baby On Her Life
On the one hand, sounds like someone’s being a little paranoid. On the other? Yeah, it’s definitely supposed to be her. And she does need the money.
Source: Dealbreaker | 9 Mar 2010 | 9:45 am Cisco’s Non-Event Event: Does Anyone Want A Faster Internet?Al Gore invented the internet, and Cisco (CSCO) will improve it forever. Cisco built up today’s announcement of its latest technology and the result of the news was that the firm’s stock dropped. Cisco said it would release a “next-generation” router that is twelve times faster than its old one. The new CRS-3 product has been tested [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Mar 2010 | 9:42 am Morgan’s Greenlaw: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Mar 2010 | 9:40 am Analyst Ben Dell: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Mar 2010 | 9:39 am Miller Tabak’s Boockvar: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 9 Mar 2010 | 9:37 am Mickey Levy: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 9 Mar 2010 | 9:36 am David Resler: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 9 Mar 2010 | 9:11 am Sophia Drossos: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 9 Mar 2010 | 9:08 am National Employee Morale Day At Chevron (CVX)Chevron (CVX) said it would lay-off 2,000 people. The company issued a press release describing its plans which had the title “Chevron Well-Positioned For Future Growth” Firing employees must be integral to that. Chevron also indicated it would drop out of some businesses. Chevron said the restructuring activities might include soliciting bids for certain operations in Europe including the Pembroke refinery, the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Mar 2010 | 8:59 am Harry Markopolos Is Not Quite Certain Anyone At The SEC Knows How To Read
Log on to ladyboyjuice.com 348 times in one day? Yes. That, they’ve got a handle on. Words and stuff? Marko’s not yet convinced. (Yet another reason these people must die.)
Source: Dealbreaker | 9 Mar 2010 | 8:32 am Opening Bell: 03.09.10Merkel Urges Regulation as Greece Takes Plea to U.S. (Bloomberg) Carlyle Said to Hire Ex-Morgan Stanley Trading Chief Petrick (BW) Colony Capital To Take Over Leibovitz’s Loans (FT) AIG’s Greenberg to Testify Wednesday on Gen Re (Reuters) Former Deutsche Bank Saba Asia Head Said to Plan New Hedge Fund (Bloomberg) Gunman, 2 others wounded in Dallas shootout (AP)
Source: Dealbreaker | 9 Mar 2010 | 8:00 am Complaints Dept.: Banks, Cell Phones, Gazebos ...By Jacob Goldstein The Better Business Bureau just put out a tally of the customer complaints it received in 2009. Complaints about banks were up by 42%, to nearly 30,000. That put banks third on the list, behind the cell phone industry (37,477) and cable & satellite TV companies (32,616). But to really appreciate how many things can go wrong in this world -- how many goods and services there are to complain about -- take a look at the BBB's 82-page list of all the complaints and inquiries it got from around the country last year: An arbitrary sample from the low end of the list turns up complaints about:
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 9 Mar 2010 | 7:21 am Why Productivity Growth Is Bad For The UnemployedBy Jacob Goldstein Productivity growth means U.S. businesses are getting more efficient, wringing more value from each hour of labor. But the flip side is that companies don't need so many workers, leaving more people out of work. So it makes sense that last year's surge in productivity may be tied to a larger-than-expected rise in unemployment. A rule called Okun's law says there should be a one percent rise in the unemployment rate for every two percent that GDP growth falls below its usual trend. But that didn't hold true last year, according to a new paper from the San Francisco Fed. Okun's law would have predicted a 1.5 percent increase in the unemployment rate last year. But the increase was actually 3 percent. The paper looks at different possible reasons for this, and concludes that productivity growth was the "main driver." The authors write: The surge in labor productivity allowed employers to keep output steady while shedding workers and reducing hours of work in the economy. As such, it allowed unemployment to rise much more than expected given the change in GDP, breaking the normal pattern between the two measures observed over the past 60 years. ... If productivity keeps on growing at an above-average pace, then unemployment forecasts based on Okun's law could continue to be overly optimistic. For more on this theme, revisit the warning we heard last fall from an economist: "the link between the macroeconomy and the labor market has been broken. The bottom line -- the economy is looking better on paper but not for workers." » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 9 Mar 2010 | 6:12 am Government to Pay Homeowners to Sell at a Loss
Starting April 5, the federal government will give homeowners in danger of foreclosing money to sell their homes at a loss. The New York Times has the story: More than five million households are behind on their mortgages and risk foreclosure. The government’s $75 billion mortgage modification plan has helped only a small slice of them. Consumer advocates, economists and even some banking industry representatives say much more needs to be done. For the administration, there is also the concern that millions of foreclosures could delay or even reverse the economy’s tentative recovery — the last thing it wants in an election year. Taking effect on April 5, the program could encourage hundreds of thousands of delinquent borrowers who have not been rescued by the loan modification program to shed their houses through a process known as a short sale, in which property is sold for less than the balance of the mortgage. Lenders will be compelled to accept that arrangement, forgiving the difference between the market price of the property and what they are owed. Under the new program, the servicing bank, as with all modifications, will get $1,000. Another $1,000 can go toward a second loan, if there is one. And for the first time the government would give money to the distressed homeowners themselves. They will get $1,500 in “relocation assistance.” The new program requires real estate agents to determine the value of a home to the lender, writes the Times. If someone offers that predetermined amount or higher, the lender has to take it. So much for neutrality on that front. I’m not quite sure why the government decided on that particular detail–lobbying perhaps? Another interesting component of this plan is the small amounts of money the government is giving out to banks and homeowners. Although I doubt the lender on a first mortgage would care much about an extra $1,000, the lender of a second mortgage, who risks losing everything to a consumer not worth collecting on, might. Also, $1,500 relocation assistance isn’t that big an incentive to move out, unless you’re desperate. The desperate crowd is clearly who the government is targeting here. But if the government is pandering to desperation, it is merely accelerating a process that would have happened anyway. I have trouble seeing what this plan will actually accomplish. For example, the program could accelerate an existing process to increase cheap real estate supply. This, in turn, would stimulate purchases by vultures waiting to scoop up deals. The government would then compile stats stating that real estate sales are up, bolstering its economic legitimacy during an election year. But are there enough homeowners in said desperate state, and banks willing to accept such small sums, to make that happen? If that is the case, isn’t the government actually depressing home prices with its new program? Who wins here–and how?
Source: Business Pundit | 9 Mar 2010 | 5:56 am So True
Source: Business Pundit | 9 Mar 2010 | 4:09 am
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