|
|
|
|
Chinese companies cut their ties with GoogleGoogle's prospects of retaining a foothold in China have taken a hit after two major companies cut their ties with the search giant in the aftermath of its decision to close its Chinese search engine. Source: Latest Business News from Times Online | 25 Mar 2010 | 4:36 pm Parties draw Budget battle linesUK political parties draw up their election battle lines around the economy, after Chancellor Alistair Darling unveiled his Budget.Source: BBC News | Business | World Edition | 25 Mar 2010 | 4:11 am UK retail sales in strong reboundUK retail sales rose strongly between January and February, official figures show, following a sharp fall a month earlier.Source: BBC News | Business | World Edition | 25 Mar 2010 | 4:10 am Shorts Push Back Into Tech And CommunicationsShort sellers pushed into tech, communications, and industrial companies for the period ending March 15, but largely moved out of financial shares. Short interest in Cisco (CSCO) was up 12% to 53.7 million. Shares sold short in Ciena (CIEN) rose 45% to 22.6 million. The short interest in Seagate (STX) was up 15% to 27.8% and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 4:07 am “Search” May Not Be A Business In ChinaShares of Chinese search engine, Baidu, which has a market share of about two-thirds of the internet users on the mainland, have risen from $170 a year ago to $609 today. The firm has a market value of $21 billion, which is about the same as Yahoo! (YHOO). The stock has had all of this [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 4:05 am Airline goes into administrationScottish airline Highlands Airways has been placed in administration following financial problems, it is announced.Source: BBC News | Business | World Edition | 25 Mar 2010 | 4:03 am Euro drops to 10-month dollar lowThe euro falls to its lowest level for 10 months as European Union leaders disagree on how best to deal with Greece's debt crisis.Source: BBC News | Business | World Edition | 25 Mar 2010 | 4:02 am Dubai offers $9.5 billion for debt deal with no haircutsDUBAI (Reuters) - Dubai will recapitalize its Dubai World conglomerate and repay property unit Nakheel's bonds in full, with $9.5 billion of aid for a debt deal promising creditors all their money back in up to eight years.
Source: Reuters: Business News | 25 Mar 2010 | 4:02 am Dubai Restructures Its Debt, But Not Its ObligationThe desert kingdom of Dubai has come up with a novel way to pay its debt–it will roll its over to another day in another year sometime in the future. It will give its creditors an IOU of sorts, which may or may not be paid depending on the world’s economy and Dubai’s own. The FT [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 4:01 am Dubai unveils $9.5bn debt restructuringGulf markets rally after the emirate’s government announces a proposal for troubled conglomerate Dubai World, including a commitment to pump $8bn into NakheelSource: Financial Times - US homepage | 25 Mar 2010 | 3:57 am Dubai World asks for up to eight years to pay debt (AFP)
Source: Yahoo! News: Business News | 25 Mar 2010 | 3:56 am Dozens of cars pulled from Alaska auto graveyard (AP)AP - When Anchorage had to dispose of thousands of cars and trucks damaged in a powerful 1964 earthquake, it dumped them off a 350-foot bluff near the outskirts of town.Source: Yahoo! News: Business News | 25 Mar 2010 | 3:54 am UK retail sales up 1.9 pct on month in February (AP)AP - Retail sales in Britain rose 1.9 percent in February from January, leaving them 5 percent higher than a year earlier, the Office for National Statistics said Thursday.Source: Yahoo! News: Business News | 25 Mar 2010 | 3:53 am Virgin pilots demand new talks over pay freezeVirgin Atlantic’s pilots are demanding new negotiations on pay, surprising the airline, which thought that it had agreement on a second year of frozen salaries. Source: Latest Business News from Times Online | 25 Mar 2010 | 3:53 am Asian stock markets mixed, European shares gain (AP)
Source: Yahoo! News: Business News | 25 Mar 2010 | 3:52 am Asian stock markets mixed, European shares gain (AP)
Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 3:52 am China comments add to sovereign debt fearsGlobal Markets Overview: Downbeat comments from Zhu Min, a deputy governor of the People’s Bank of China, on the Greek crisis, fuel concerns over high levels of government debtSource: Financial Times - US homepage | 25 Mar 2010 | 3:49 am Zurich Financial revises 2009 net profit upward (AP)AP - Swiss insurer Zurich Financial on Thursday revised its annual net profit upward by $747 million, citing accounting changes related to hedging in the U.S. life insurance market.Source: Yahoo! News: Business News | 25 Mar 2010 | 3:48 am Jarvis to call in administratorsRail maintenance company Jarvis announces that it will go into administration after failing to secure credit.Source: BBC News | Business | World Edition | 25 Mar 2010 | 3:40 am Chinese verdict on Rio trial delivered March 29: AustraliaSYDNEY (Reuters) - Australia said it had been informed by China that the verdict in the trial of four Rio Tinto executives charged with bribery and commercial spying will be handed down on Monday, March 29.
Source: Reuters: Business News | 25 Mar 2010 | 3:40 am Talks seek to avert rail strikeLast-ditch talks are taking place in an attempt to avert the first national rail strike since 1994, which could hit Easter travel.Source: BBC News | Business | World Edition | 25 Mar 2010 | 3:40 am Dubai to pay Dubai World creditors in fullThe Dubai government said on Thursday it was offering to pay back the creditors of its troubled Dubai World conglomerate in full, but over five to eight years.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 3:31 am FTSE higher in opening trade (AFP)
Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 3:31 am Air Berlin narrows 2009 loss to $13 million (AP)AP - German airline Air Berlin Plc said Thursday its net loss for 2009 narrowed to euro9.5 million ($13 million) as it embarked on widespread cost savings and route reductions during the year.Source: Yahoo! News: Business News | 25 Mar 2010 | 3:22 am Next profits jump 18pcNext, the British fashion retailer, beat company guidance with an 18pc rise in 2009/10 profit but said it was reluctant to predict profit in the current year because the outlook was so uncertain.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 3:20 am Dubai offers $9.5B in new aid to struggling firm (AP)AP - Dubai's government said Thursday it will pump up to $9.5 billion into its chief conglomerate Dubai World and a key subsidiary as part of a long-awaited restructuring plan to rescue it from crippling debt.Source: Yahoo! News: Business News | 25 Mar 2010 | 3:18 am Dubai World lands $9.5 billion state bailout$Dubai World unveiled a restructuring plan today through which the group will repay 100 per cent of its $23.5 billion ($£15.7 billion) debts through debt-for-equity swaps and new funding from the Government. Source: Latest Business News from Times Online | 25 Mar 2010 | 3:12 am Dubai commits $9.5 bln to Dubai WorldDubai's government says Thursday it will commit $9.5 billion to help Dubai World restructure its debt.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 3:02 am Stock futures up; eyes on EU Summit(Reuters) - Stock index futures pointed to a slightly higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.14 percent, Dow Jones futures up 0.12 percent and Nasdaq 100 futures up 0.18 percent.
Source: Reuters: Business News | 25 Mar 2010 | 2:58 am J Sainsbury records lowest sales growth in five yearsJ Sainsbury is arming itself for a price war as the supermarkets battle it out for the custom of cash-strapped consumers. Source: Latest Business News from Times Online | 25 Mar 2010 | 2:52 am China takes clean energy investing leadChina overtook the United States in renewable energy investments for the first time ever in 2009, attracting nearly twice as many dollars and becoming the world's largest market for clean energy projects.Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 2:51 am Oil hovers below $81 after US crude stocks rise (AP)
Source: Yahoo! News: Business News | 25 Mar 2010 | 2:51 am Where you should (and shouldn't) keep your cashQuestion: My wife and I have $25,000 in a money market account earning almost nothing in interest. We would like to place $20,000 in some kind of an account that will give us a better return. This is our emergency money, so we'd like to invest it in something fairly safe. We also need to be able access the funds if necessary. I've had suggestions to invest in bonds, CDs and another money market account. Do you have any suggestions or recommendations? --Ted Graham, Grandville, MIchiganSource: Business and financial news - CNNMoney.com | 25 Mar 2010 | 2:44 am Next and B&Q robust in recessionRetailers Next and B&Q saw profits rise in 2009 on the back of robust consumer spending despite the recession.Source: BBC News | Business | World Edition | 25 Mar 2010 | 2:42 am Kingfisher raises dividend on 50% profit surgeFortunes at Kingfisher, the owner of B&Q, appear to be turning after the company reported pre-tax profits of £547 million, a rise of nearly 50 per cent, and increased its dividend for the first time in five years. Source: Latest Business News from Times Online | 25 Mar 2010 | 2:39 am Congress slams China, hails GoogleTwo days after Google stopped censoring search results in China, a congressional panel praised the company's actions while excoriating the Beijing government for its record on Internet censorship and human rights.Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 2:37 am Stocks ready to bounce backU.S. stocks were ready to advance at Thursday's open as investors looked to the weekly jobless claims report for signs of an employment recovery.Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 2:35 am Stock futures up; eyes on EU Summit (Reuters)
Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 2:34 am Google: slow boat from China or a slow death?Google could face a slow death in China following its decision to shut down its Chinese search engine as companies shy away from dealing with the internet giant for fear of upsetting the Chinese government, industry analysts have warned.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 2:31 am Currencies: Euro slips on China central banker's commentsThe dollar touches a 10-month high against its European counterpart in Asian trading Thursday, after a Chinese central-bank official drew global attention to European countries’ debt problems.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 2:25 am Next lifts dividend as profit climbs 20%British fashion retailer beats market expectations as it also lifts its dividend and says it should be able to boost its margins in the coming year.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 2:25 am North Korea forces tourism talksSouth Korean businessmen travel to the North as Pyongyang threatens to seize their assets in a resort if they do not.Source: BBC News | Business | World Edition | 25 Mar 2010 | 2:19 am PV Crystalox Solar profit drops 71%Silicon-wafer maker PV Crystalox Solar's annual profit slides as prices slump.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 2:16 am Business Bullet: Asia, Euro, Dubai, NextThe latest news on: Asia, Euro, Dubai, NextSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 2:05 am Euro keeps falling as EU wrangles over Greek aid (AP)AP - The euro is lower against the dollar ahead of a crucial EU meeting where a rescue package for Greece, likely with the help of the International Monetary Fund, is expected to be agreed.Source: Yahoo! News: Business News | 25 Mar 2010 | 1:57 am 2,000 jobs at risk as Jarvis enters administrationJarvis, the railway maintenance contractor, has gone into administration after “very considerable reductions” in rail and plant hire volumes, putting 2,000 jobs at risk. Source: Latest Business News from Times Online | 25 Mar 2010 | 1:53 am Indonesia's Bukit Asam signs $1.3 bln railway contractJAKARTA, March 25 (Reuters) - Indonesian coal miner PT Bukit Asam said on Thursday it has appointed China Railway Engineering Corp to build a $1.3 billion new railway project in South Sumatra. (Reporting...Source: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 1:53 am Budget 2010: tables on tax rate bands, child benefit, personal allowances, tax creditsSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 1:53 am Europe Markets: European shares touch fresh annual highsInvestors eye a meeting of European officials where Greece’s debt will be high on the agenda, and Next and Air Berlin gain after reporting earnings.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 1:52 am Media Digest 3/25/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: EU leaders are divided on Greece before their summit. Reuters: Changes in the health care bill will go back to the House. Reuters: China described interest rates as a “heavy-duty weapon” in the war with inflation. Reuters: Dubai World creditors held $14 billion in debt in December. Reuters: A sale of MGM may be delayed. Reuters: Icahn and Lions [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 1:46 am Treasury planning Citi stake sale: report(Reuters) - The U.S. Treasury could unveil a preset trading plan next month for the sale of its 27 percent stake in Citigroup Inc , Bloomberg said on Thursday, citing people with direct knowledge of the matter.
Source: Reuters: Business News | 25 Mar 2010 | 1:45 am Rising imports 'cure' for China trade gap: PBOCA rising yuan won’t cure the imbalanced trade relationship between China and the U.S., nor will it help the U.S. labor market, a top Chinese official says.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 1:44 am UPDATE 1-Premier Oil pretax profit falls; production up 21 pct* Production rises to 44,200 boepd vs 36,500 boepd (Adds details)Source: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 1:42 am UPDATE 1-M&C Saatchi pretax falls 27 pct; 2010 starts wellLONDON, March 25 (Reuters) - British advertising agency M&C Saatchi posted a 27 percent fall in profit after a challenging 2009, and said 2010, which had started better, would herald entry into new...Source: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 1:35 am Budget 2010: Tables showing how single people, couples, and pensioners faredSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 1:34 am QVT Tenders Approximately 60 Percent of Its Galatasaray Sportif Holding Into Coercive Tender Offer by Galatasaray FutbolSource: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 1:30 am UPDATE 1-PV Crystalox cuts dividend after profit halvesLONDON, March 25 (Reuters) - British solar technology firm PV Crystalox cut its dividend to conserve cash after oversupply and price pressure resulted in its profit halving.Source: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 1:27 am Dubai World to get state bail-outThe Dubai government announces it will provide $9.5bn in funding to help its investment vehicle Dubai World restructure its debt.Source: BBC News | Business | World Edition | 25 Mar 2010 | 1:26 am NZ market slightly up on quiet dayThe New Zealand sharemarket closed slightly higher, unaffected by economic-growth data released today.The NZX-50 index closed up 4.82 points, or 0.149 per cent at 3237.5, after opening slightly lower. There were 35 rises and 97...Source: nzherald.co.nz - Business | 25 Mar 2010 | 1:16 am Eurozone pressed for Greek dealThe EU Commission head urges a eurozone safety net for Greece as leaders meet and Germany calls for IMF involvement.Source: BBC News | Business | World Edition | 25 Mar 2010 | 1:15 am IMF could offer strict path out of Greece's woes (AP)
Source: Yahoo! News: Business News | 25 Mar 2010 | 1:10 am TABLE-Centrotherm Photov. full year resultsMar 25 (Reuters) - 12 months to 31 Dec 2009 Group (in EUR millions unless otherwise stated)Source: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 1:05 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 1:01 am Sell-off sends Treasury bond yields soaringThe rate on 10-year notes surges to a two-month high as investors grow wary about funding the federal government's borrowing binge.Interest rates on U.S. Treasury bonds soared Wednesday, raising fresh concern about investors' willingness to fund Uncle Sam's borrowing wave.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am New-home sales hit a new lowThe seasonally adjusted annual rate of 308,000 units in February was the lowest since the Commerce Department began keeping statistics in 1963.Sales of new homes fell to a new low in February, underscoring the steep challenges facing the U.S. as it tries to recover from one of the worst housing busts in history.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am China takes lead in clean-power investmentU.S. falls to No. 2 in funding for such alternative sources as wind and solar. China overtook the United States...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am Frost & Sullivan Survey Reveals: Marketers on the Road to Rebound From Economic DownturnSource: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 1:00 am Lawyers circle ToyotaIn San Diego, 150 attorneys gather to plot strategy for what could be a deluge of lawsuits to come against the automaker.First came the reports of sudden acceleration, then the recalls. And now, inevitably, the lawyers. Lots of them.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am Obama official slams U.S. Chamber over opposition to financial overhaulDeputy Treasury Secretary Neal Wolin accuses the business group of lying about proposed changes. Taking a newly...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am At stake for Google in China: Smart phone empireAs the company tangles with the Chinese government, it puts in jeopardy its tentative grip on the cellphone market in a nation where staggering growth in mobile search is expected. ...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am California' rebound forecast to lag behind nation'sThe state will pick up speed in 2011 as port traffic climbs, UCLA economists say. California's economic recovery...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am Go Daddy to stop offering new China domain namesThe company's decision is prompted by an 'increase in China's surveillance and monitoring of the Internet activities of its citizens,' an executive says. ...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am Fox Sports' David Hill superimposes his will on TVResponsible for a number of graphic innovations, the longtime CEO isn't afraid to take a risk.Fox Sports Chief Executive David Hill has a photograph on his wall of the network's executives at the negotiating table in 2003 making a failed bid for the broadcast rights to the 2010 and 2012 Olympics.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am Fox Sports' David Hill superimposes his will on TVResponsible for a number of graphic innovations, the longtime CEO isn't afraid to take a risk. Fox Sports Chief...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am California' rebound forecast to lag behind nation'sThe state will pick up speed in 2011 as port traffic climbs, UCLA economists say.California's economic recovery will lag behind the nation's in 2010, but then overtake it as U.S. consumers start buying again and goods come through the region's ports and transportation hubs, according to a forecast released Wednesday by economists at the UCLA Anderson School of Business.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am China takes lead in clean-power investmentU.S. falls to No. 2 in funding for such alternative sources as wind and solar.China overtook the United States for the first time last year in the race to invest in wind, solar and other sources of clean energy, according to a comprehensive new report that raises questions about American competitiveness in a booming global market.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am Bank of America to reduce mortgage principal for some borrowersThe $3-billion program involves certain adjustable-rate loans issued by Countrywide Financial, the loss-plagued lender that BofA acquired in 2008.Amid increasing government pressure to stem foreclosures, Bank of America Corp. said Wednesday that it would offer to erase as much as $3 billion in principal owed by thousands of severely delinquent borrowers who owe more than their homes are worth.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am Sell-off sends Treasury bond yields soaringThe rate on 10-year notes surges to a two-month high as investors grow wary about funding the federal government's borrowing binge. ...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am Bank of America to reduce mortgage principal for some borrowersThe $3-billion program involves certain adjustable-rate loans issued by Countrywide Financial, the loss-plagued lender that BofA acquired in 2008. ...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am New-home sales hit a new lowThe seasonally adjusted annual rate of 308,000 units in February was the lowest since the Commerce Department began keeping statistics in 1963. ...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am Honda enters price war with ToyotaThe automaker moves to preserve its market share amid aggressive sales incentives offered by its rival. The auto...Source: RSS feed - channel BNPaperBusiness | 25 Mar 2010 | 1:00 am Honda enters price war with ToyotaThe automaker moves to preserve its market share amid aggressive sales incentives offered by its rival.The auto price war is escalating with American Honda Motor Co. offering its biggest lease deal ever, a move analysts said was designed to offset aggressive sales incentives by rival Toyota Motor Corp.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am Obama official slams U.S. Chamber over opposition to financial overhaulDeputy Treasury Secretary Neal Wolin accuses the business group of lying about proposed changes.Taking a newly defiant stance in its next major legislative battle, a top Obama administration official walked into the heart of the opposition Wednesday and accused the U.S. Chamber of Commerce of lying about what the sweeping regulatory overhaul of financial regulations would do.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am At stake for Google in China: Smart phone empireAs the company tangles with the Chinese government, it puts in jeopardy its tentative grip on the cellphone market in a nation where staggering growth in mobile search is expected.Reporting from San Francisco and Beijing Jessica Guynn -- In its public wrangling with the Chinese government, Google Inc. not only risks losing access to millions of personal computers in China but also its toehold in the world's largest cellphone market.
Source: L.A. Times - Business | 25 Mar 2010 | 1:00 am China sees interest rates as "heavy-duty weapon"HONG KONG (Reuters) - A senior Chinese central banker on Thursday played down the need for an imminent rise in borrowing costs to keep a balance between growth and inflation in the world's...Source: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 12:49 am China sees interest rates as "heavy-duty weapon"HONG KONG (Reuters) - A senior Chinese central banker on Thursday played down the need for an imminent rise in borrowing costs to keep a balance between growth and inflation in the world's third-largest economy.
Source: Reuters: Business News | 25 Mar 2010 | 12:49 am Dubai World creditors held $14 billion of debt in DecDUBAI (Reuters) - Outstanding debt held by Dubai World creditors stood at $14.2 billion at the end of December, excluding Dubai Financial Support Fund (DFSF), the state-owned conglomerate...Source: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 12:47 am UPDATE 2-Bharti moves closer to seal $9 bln Zain Africa deal* Bharti stock up as much as 3 pct ahead of deal announcementSource: RSS feed - channel BNewsBusiness | 25 Mar 2010 | 12:20 am NZ dollar steady, strong against euroThe New Zealand dollar closed with little movement as economic growth data released today was in line with market expectations.Statistics New Zealand showed Gross Domestic Product (GDP) rose 0.8 per cent in the December quarter,...Source: nzherald.co.nz - Business | 24 Mar 2010 | 11:51 pm SEC probing two hedge funds: report(Reuters) - The U.S. securities regulator is probing hedge funds Appaloosa Management LP and Carlson Capital LP for certain trades, the Wall Street Journal said, citing people familiar with the matter.
Source: Reuters: Business News | 24 Mar 2010 | 11:36 pm SEC probing two hedge funds: report (Reuters)Reuters - The U.S. securities regulator is probing hedge funds Appaloosa Management LP and Carlson Capital LP for certain trades, the Wall Street Journal said, citing people familiar with the matter.Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 11:36 pm China Unicom won't use Google on Android phonesChina Unicom reportedly says it won’t use Google’s search function on its smartphones, even those using the U.S. search giant’s own Android mobile operating system, because of Google’s decision not to censor search results in China.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 11:36 pm David Callaway: Why won't emerging markets emerge?Despite growth and modernization, China, Russia, Brazil, India, Mexico, Malaysia and many others, have always been considered emerging markets, pockets of opportunities for investors and companies willing to brave the political, cultural and social challenges they present.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 11:35 pm Icahn, Lions Gate trade barbs; shares riseLOS ANGELES (Reuters) - Lions Gate Entertainment Corp and Carl Icahn traded angry barbs on Wednesday, one day after the movie studio rejected his hostile bid.
Source: Reuters: Business News | 24 Mar 2010 | 10:47 pm China rejects US complaints on currencyThe Chinese vice commerce minister says Beijing would reform its currency policy gradually and keep the exchange rate stable, rejecting mounting US calls to allow the renminbi to rise more quicklySource: Financial Times - US homepage | 24 Mar 2010 | 10:45 pm Capitol Report: Will bank-reform proposals protect consumers?Far-reaching legislation aimed at overhauling the nation’s financial-services regulatory system is moving forward in Congress, but advocates say some of the proposed consumer protections are too weak.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 10:16 pm Tax Tips: The Benefits of Refinancing (Tax Tips)If you refinanced your mortgage, make sure you get all your tax breaks.
Source: SmartMoney.com | 24 Mar 2010 | 10:00 pm 10 Things Home Inspectors Won't Tell You (10 Things)They're not required to climb on your roof -- or have formal training.
Source: SmartMoney.com | 24 Mar 2010 | 10:00 pm How to Dine at 30,000 Feet (Consumer Action)The free in-flight meal is gone, but you don't have to overpay to eat well.
Source: SmartMoney.com | 24 Mar 2010 | 10:00 pm 3 Stocks With 20% Sales Growth (Screens)Hough: Revenues at these firms are surging. Can shares do the same?
Source: SmartMoney.com | 24 Mar 2010 | 10:00 pm Smart Media: Money and Music (SmartMedia)Doomsday predictors dismissed as naysayers and tunes for latte sipping.
Source: SmartMoney.com | 24 Mar 2010 | 10:00 pm Watch What They Do With Their CashLook at free cash flow to gauge the true financial health of a business.
Source: SmartMoney.com | 24 Mar 2010 | 10:00 pm Take Me Out to the (Pre-Season) Ballgame (Deal of the Day)Spring training games can be affordable -- if you're able to snag tickets.
Source: SmartMoney.com | 24 Mar 2010 | 10:00 pm Chinese would bring innovation to NZ dairy industry - lawyerThe Chinese-owned company wanting to buy the balance of the Crafar farms would be the first vertically integrated dairy business in New Zealand if its plan to raise enough capital pulls through, the lawyer acting for the company said.The...Source: nzherald.co.nz - Business | 24 Mar 2010 | 9:41 pm Another XT exec jumps Telecom shipTelecom's Mr XT, Paul Hamburger, today announced he would be ending his 18 month stint at the company.Telecom staff were told this morning that Hamburger, the man responsible for mobile devices and services, would leave the company...Source: nzherald.co.nz - Business | 24 Mar 2010 | 9:30 pm Fonterra chief questions China dairy investmentFonterra chief executive Andrew Ferrier doubts there is an economic case for Chinese looking to invest in the dairy industry to buy their own processing plants in this country.Chinese-owned Natural Dairy (NZ) Holdings told the...Source: nzherald.co.nz - Business | 24 Mar 2010 | 8:30 pm Supercity chief exec namedA local businessman has been revealed as the top bureaucrat of Auckland's new 'Supercity' council.He is Doug McKay, who has held senior roles at Carter Holt Harvey, Lion Nathan, Goodman Fielder. He was also CEO of Sealord...Source: nzherald.co.nz - Business | 24 Mar 2010 | 8:00 pm Mining lobby 'heartened' by response to Govt plansA mining industry lobby group says its "heartened by the positive feedback" it is getting from the New Zealand public on the Government's latest plan to extend mining into previously protected conservation areas.And it is urging...Source: nzherald.co.nz - Business | 24 Mar 2010 | 8:00 pm Economy expands at fastest pace in two yearsNew Zealand's economy accelerated in the fourth quarter, growing at the fastest clip in two years as manufacturing revived and companies built up inventories that had run down through the recession.Gross domestic product expanded...Source: nzherald.co.nz - Business | 24 Mar 2010 | 7:30 pm Budget 2010: Failure to tackle deficit will be Labour's legacyAlistair Darling wanted this Budget to convince the City Labour is serious about the deficit. He failed.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 6:39 pm Alstom executives arrested in UK raidsThree UK board members of Alstom, the French engineering group, were released on bail last night after being arrested on suspicion of bribery and corruption.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 6:24 pm SEC charges UBS banker with insider tradingA UBS investment banker and a college friend were accused by US authorities of profiting from insider trading involving mergers and acquisitionsSource: Financial Times - US homepage | 24 Mar 2010 | 6:22 pm Starbucks sets first dividend, to add U.S. cafesSEATTLE (Reuters) - Starbucks Corp declared its first dividend on Wednesday, signaling an end to its days of sizzling growth while ushering in a broader-based strategy aimed at more sustainable, stable prosperity.
Source: Reuters: Business News | 24 Mar 2010 | 6:02 pm ‘Inside deals’ executive advised the Treasury on bank rescueThe Deutsche Bank executive arrested on Tuesday over alleged insider dealing advised the Government on financial stability at the height of the financial crisis, The Times has learnt. Source: Latest Business News from Times Online | 24 Mar 2010 | 6:01 pm Sale of The Independent imminent, INM saysIndependent News & Media (INM) said today that it expected to sell The Independent and The Independent on Sunday to Alexander Lebedev “within 24 hours”. Source: Latest Business News from Times Online | 24 Mar 2010 | 6:01 pm Business big shot: Hamish Ogston of CPPHamish Ogston, 61, has turned a £1,000 investment into a rumoured £120 million payday. Moreover, the flotation of the life assistance company CPP brings to an end more than three decades as a serial entrepreneur — a much-abused title that, in Mr Ogston’s case, is justified. Source: Latest Business News from Times Online | 24 Mar 2010 | 6:01 pm Budget 2010: Darling finally gets the picture – even if it may turn out to be wrongIf yesterday’s Budget marked the start of the general election campaign, then Britain is in for a truly dismal period between now and the probable election date of May 6. Source: Latest Business News from Times Online | 24 Mar 2010 | 6:01 pm Pressure grows on China to revalue currencyWASHINGTON - Pressure on China to allow its currency to rise in value against the dollar has intensified with a prominent economist telling Congress that the Obama administration should cite China and four other Asian economies as...Source: nzherald.co.nz - Business | 24 Mar 2010 | 6:00 pm US financial regulation bill set to succeedRepublicans on the Senate banking committee said financial regulation reform has a ‘100 per cent chance’ of passing this year in the most positive sign yet for a bipartisan billSource: Financial Times - US homepage | 24 Mar 2010 | 5:51 pm US and Russia to agree nuclear arms dealThe US and Russia are on the verge of agreeing a much delayed nuclear arms control treaty, officials from both countries signalledSource: Financial Times - US homepage | 24 Mar 2010 | 5:28 pm Fed exit fraught with dangers, monetary experts sayWASHINGTON (Reuters) - The Federal Reserve has not been clear enough about how it intends to unwind its unprecedented monetary easing campaign, and some of the tools it expects to use may not work, monetary experts will tell Congress on Thursday.
Source: Reuters: Business News | 24 Mar 2010 | 5:21 pm Darling ducks deficit challengeChancellor declines to spell out how a future Labour government would cut spending to cut the record peacetime deficitSource: Financial Times - US homepage | 24 Mar 2010 | 5:10 pm 6 startups: Where they got the cashBank credit is scarce and investors are skittish, but that didn't stop these 6 startups. They found creative ways to raise cash during the downturn.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 5:03 pm FSA swoop hauled in government adviserThe Deutsche Bank executive arrested in connection with an insider dealing investigation was a banker advising the government on managing its stakes in Royal Bank of Scotland and Lloyds Banking GroupSource: Financial Times - US homepage | 24 Mar 2010 | 4:59 pm NZ sharemarket flat earlyThe New Zealand sharemarket was flat in early trading as Fletcher Building shares continued to ease.Around 10.15am the benchmark NZX-50 index was up 0.92 points to 3233.64, having gained 4.4 points yesterday. Fletcher Building...Source: nzherald.co.nz - Business | 24 Mar 2010 | 4:42 pm Stocks fall after agency cuts Portugal debt rating (AP)
Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 4:27 pm Budget 2010: Defence in all aspects was the striking feature of the day"We apologise that due to industrial action we may not be able to provide our usual level of service. If your call is not urgent you may find it more convenient to call us tomorrow."Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 4:22 pm How the major stock indexes fared on Wednesday (AP)AP - Major stock indexes fell from their 2010 highs Wednesday as weakness in the housing market and rising European debt loads revived pessimism about the economy after Fitch Ratings lowered Portugal's credit rating. Treasury prices tumbled after a government debt auction drew only modest demand for a second straight day.Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 4:15 pm Summary Box: Portugal debt woes hit stock market (AP)AP - AN UNWANTED IMPORT: Major stock indexes fell Wednesday, a day after closing at 2010 highs, after Fitch Ratings lowered its rating on Portugal's debt. That raised concerns that deficits in Portugal and other countries would trip up a global recovery.Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 4:09 pm New Mexico real estate exec accused of $80M scheme (AP)AP - A prominent Albuquerque real estate executive used his reputation to defraud about 600 investors in New Mexico and elsewhere out of an estimated $80 million in a Ponzi scheme, the Securities and Exchange Commission alleged in a federal lawsuit.Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 4:08 pm Budget 2010: Hard yards in tax and cuts lie ahead, even with a hung ParliamentAlistair Darling is probably going to wake up this morning feeling he made the best of a bad job with Wednesday's Budget.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 4:04 pm Write-Offs: 03.24.10$$$ Louis Bacon’s fund has dealt with other legal issues [Reuters] $$$ Tyra Banks’ avorite Banker Moves to Deutsche Bank [WSJ] $$$ Arrested Bank Prez Lists East 61st Townhouse for $8.5 Million [NYO] $$$ Appeals Court Stays Order to Turn Over Galleon Wiretaps [Dealbook] 
Source: Dealbreaker | 24 Mar 2010 | 4:00 pm Investing in Asia, High-Yield Bonds, Small-Caps: Taking StockSource: Bloomberg - All Podcasts | 24 Mar 2010 | 3:50 pm Even China's CEOs Are Complaining About The Yuan
Frederic J. Brown (AFP/Getty Images) By Jacob Goldstein Sure, people in the U.S. have been complaining about the value of China's currency, arguing that it takes away American jobs and messes with global markets. (Listen to our podcast from last Friday for more on this.) Now, Bloomberg reports, some CEOs of big Chinese companies also want to see a stronger yuan. The CEO of Lenovo, the computer company, says a stronger currency would allow Chinese consumers to buy more stuff. The chairman of China Merchants Bank says allowing the yuan to appreciate against the dollar would let lenders set market-based rates. And the chairman of of Hunan Lenghuijiang Iron & Steel Group wants a stronger currency because it would cut the cost of imports. They may get what they want. A planned meeting of Chinese and U.S. officials in Beijing in May will help "address disputes," China's Premier Wen said this week, Bloomberg reports. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 24 Mar 2010 | 3:30 pm First Persian Gulf ETF to Start Trading in Abu Dhabi: AudioSource: Bloomberg - All Podcasts | 24 Mar 2010 | 3:08 pm Jacobs Engineering Raised to `Overweight' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 24 Mar 2010 | 3:06 pm Report: The Securities And Exchange Commission May Have Messed Up Again
Einhorn has stated that he wants to see the redacted version of Kotz’s report, which is understandable. In the event his request is not processed, however, we’ve a hunch as to the kind of stuff that was deemed necessary to blur out and Einhorny? It’s something innocent hedge fund managers like yourself should never have to see.
Source: Dealbreaker | 24 Mar 2010 | 3:03 pm Bank of America to offer home loan write-downsWASHINGTON (Reuters) - Under pressure from Massachusetts Attorney General Martha Coakley, Bank of America Corp. on Wednesday said it would offer about $3 billion in loan forgiveness to about 45,000 troubled homeowners.
Source: Reuters: Business News | 24 Mar 2010 | 3:02 pm You Can Add Another Group To The List Of “People” Goldman Sachs Deems “Second Class Citizens”Goldman Sachs views a lot of “people” (using the term generously, and quite charitably) as second class citizens. Matt Taibbi, its clients, kittens, the list goes on. This isn’t a secret by any means, and even if you don’t have your own laminated copy from which to consult, it’d probably be a good assumption that anyone employees who would be off cavorting around instead of making it rain would be on it right? Which is why it’s sort of surprising to see someone attempting to throw the house policy back in Lloyd and Co’s faces, especially considering she’s a former employee who should know how this shit works.
Source: Dealbreaker | 24 Mar 2010 | 2:34 pm Your tan is about to be taxedThe Obama administration is turning up the heat on tanning salons across the country with the passage of its new health care bill.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 2:16 pm 5 new quarters unveiledThe U.S. Mint revealed designs for the first five coins in its America the Beautiful Quarters Program, which will honor 56 national parks. The rest will be released periodically through 2021.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 2:15 pm P is for Portugal. And problems - The BuzzJust when investors thought it was safe to stop worrying about Europe, Wall Street got a reality check from credit rating agency Fitch.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 1:59 pm A Serious Question: How Is CNBC Going To Top The Tortoise Cam?I mean, yeah, things started out a little slowly but eventually this became A-game content that’s gonna be prettay, prettay, prettay hard to top.
Source: Dealbreaker | 24 Mar 2010 | 1:55 pm Bank of America to cut some mortgage balancesBank of America announced Wednesday that it will first look at reducing the loan balances of certain distressed homeowners with subprime or adjustable rate mortgages to make their payments more affordable.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 1:51 pm GlaxoSmithKline: The Unluckiest Pharma Company in the WorldGlaxoSmithKline (GSK), the world’s second-largest drug maker, just can’t seem to catch a break[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 1:36 pm Chinese Bond Auction Versus US Bond AuctionToday’s Treasury bond market weakness is tied in part to a poor US Treasury auction of $42 billion in five-year notes at Wednesday’s auction with a high rate of 2.605% on a bid-to-cover ratio of 2.55. Primary dealers were awarded $20.75 billion, and indirect bidders including foreign central banks were awarded $16.6 billion. But this [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 1:35 pm Can you still get a 5% mortgage?There's still time to get a 5% mortgage -- but the window is closing.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 1:18 pm Charlie Gasparino: Dick Fuld Acted Like A Total Puss During The Lehman Brothers Inquiry
It’s honestly a good thing CG wasn’t around to witness this display first hand, as it would’ve sickened him. Ridiculous. Gaspo didn’t say this in his report, because he works for a family network, but it would not surprise him to hear that Fuld pissed his shorts in fear on a daily basis and furthermore, that those shorts were “frilly lace panties” (Chaz’s words, not mine). But if he had been there? You can bet he’d be having none of this, and would’ve had no problem telling Dick as much, while sharing a little piece of advice. Little something like this.
Source: Dealbreaker | 24 Mar 2010 | 1:08 pm Presented By:Source: Dealbreaker | 24 Mar 2010 | 1:08 pm The Latest Loan Modification: Don't Get Your Hopes UpBy Jacob Goldstein Bank of America said today that it will reduce the debts of some people who are underwater on their mortgages. The program could apply to about 45,000 mortgages, including some of the exotic time bombs that BofA acquired when it bought Countrywide a few years back. Those time bombs -- such as loans that allow borrowers' debt to increase over time -- are exploding now. And BofA, like other lenders in a similar position, has decided that reducing the principal on some loans is cheaper than foreclosing and re-selling the homes, Chris Mayer, the Milstein Professor of Real Estate at Columbia's business school, told me. "They're just stating the obvious, which is that they're not going to get paid back in full," he said. Several mortgage modification programs have made headlines over the past few years, but their impact has been limited. A new report points out that the federal government's own program has led to fewer than 200,000 permanent modifications in its first year, a figure Treasury calls "disappointing." And those modifications haven't reduced the principal the borrowers owe. In some cases, though, they allow borrowers to make smaller payments now and larger payments later. That sounds a lot like the loans that helped create the problem in the first place. "This is a kick-the-can-down-the-road move," Adam Levitin, a mortgage-lending expert at Georgetown Law School, told me. "If they homeowner needs to move or refinance, they have to pay all that off." There's a broader issue here. While 20 million Americans are underwater on their mortgages, mortgage modification programs only make sense for a relatively narrow slice of those people: those who still have enough income to keep up with a reduced mortgage payment, but who would be likely to default on their loan if they didn't get the modification. That leaves a lot of people who will still wind up defaulting on their mortgages, and a lot more houses that will go into foreclosure. "There is no great solution," Mayer said. "We're going to muddle along." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 24 Mar 2010 | 1:00 pm China Unicom ditches Google on mobilesChina’s second-largest mobile operator has announced it will remove Google’s search function from new handsets developed with the US company in the first concrete fallout of the clash with Beijing over internet censorshipSource: Financial Times - US homepage | 24 Mar 2010 | 12:52 pm Layoffs Watch ‘10: UBSPostcards from tax evasion HQ:
Source: Dealbreaker | 24 Mar 2010 | 12:45 pm BioHealth Business Daily (CTIC, CYCC, CBPO, GENT, GENZ, IDRA, NVAX, PARD, AMGN, WCRX)Today’s BioHealth Business Daily has many names you might not be as familiar with, but there are some of the larger movers to consider today as well. We are seeing news-related moves in many stocks from Cell Therapeutics, Inc. (NASDAQ: CTIC), Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC), China Biologic Products, Inc. (NASDAQ: CBPO), Gentium S.p.A (NASDAQ: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 12:16 pm Cargill considers dropping palm oil supplierCargill, the world’s largest trader of agricultural commodities, has become the third company to reconsider its relationship with a top Indonesian palm oil supplier over allegations it is tearing down protected forests to make way for plantationsSource: Financial Times - US homepage | 24 Mar 2010 | 12:08 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Wednesday:Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 11:57 am Caption Contest Wednesday: We Don’t Have Do It In Secret Anymore!
Cameraman: “The financial crisis is ‘over’ and with that comes the freedom for the Fed to shred confidential documents at any fucking time they like. No more 3am double secret probation ninja shredding.“
Source: Dealbreaker | 24 Mar 2010 | 11:30 am FTSE 100 slightly up after budget (AFP)
Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 11:11 am Will Financial Reform Be Legitimate? (AIG, GE, GS, JPM, BAC, FNM, FRE)Congressman Barney Frank and Senator Chris Dodd are not wasting any time after health care reform. In a press conference this morning, the two well-known Democrats said financial reform was next on the agenda from Washington D.C. The target for financial reform is now being set within the next month. The target is for the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 11:09 am How will health penalties work?The health care bill signed by President Obama creates a system of penalties most Americans will have to pay if they don't buy insurance. Nancy Marshall Genzer reports on whether it will be effective.Source: Marketplace | 24 Mar 2010 | 11:01 am Canadians invest in Arizona housingCash investors are snatching up thousands of foreclosed homes in Arizona, and many of those digging up the bargains are Canadians. Why? Peter O'Dowd reports.Source: Marketplace | 24 Mar 2010 | 11:01 am Health reform bill is no New DealCommentator Robert Reich is a strong supporter of the President Obama's health care reform plan, but thinks we need to be realistic about what it is. And what it isn't.Source: Marketplace | 24 Mar 2010 | 11:01 am Staffers may be exempt from health billPolitico reporter Erika Lovley talks with Kai Ryssdal about an article she co-wrote that examines whether the health reform bill may exempt congressional staffers from buying insurance.Source: Marketplace | 24 Mar 2010 | 11:01 am European leaders squabble over debtAnother big meeting is scheduled in Brussels, where European leaders will try to figure out what to do about their debt issues and the stability of the euro. Stephen Beard reports.Source: Marketplace | 24 Mar 2010 | 11:01 am Outlets start acting like full-price storesIn 2009, discount stores saw their shelves packed with all the great stuff full-price retailers couldn't sell. But with the economy improving, discounters must find new ways to grow. Stacey Vanek-Smith reports.Source: Marketplace | 24 Mar 2010 | 11:01 am JPMorgan seeks $1.4 billion tax breakA portion of the $787 billion stimulus package was set aside for tax breaks for money-losing companies. But guess who's knocking at Uncle Sam's door looking for a piece of the action? The banks. Jeremy Hobson reports.Source: Marketplace | 24 Mar 2010 | 11:00 am Will big mail users back 5-day delivery?The U.S. Postal Service has formally proposed cutting back mail delivery to five days a week. If regulators and Congress approve, eliminating Saturday deliveries will save $3 billion a year. John Dimsdale reports.Source: Marketplace | 24 Mar 2010 | 11:00 am Kenneth Feinberg Making It Really Freaking Difficult For Wall Street Execs To Start Fresh With Their Mistresses The devil. He doesn't care about your happiness. While there has seemingly been an endless amount of bitching and moaning over Comp Cop Ken Feinberg’s infernal “views” on banker compensation, so far no one has actually been able to come up with a legit reason for why his freaky ass rules should be scrapped. Until now. Surely hearing that his pay structure is throwing a wrench in finance guys’ plans to leave their wives without rendering themselves penniless will be a wake-up call to K. Fein that all of this has too far, right? I mean, he’s got to listen to reason, DOESN’T HE?
Nightmare in-fucking-deed. Holy Christ is anyone else breaking out in hives over this? Bonus Pay Changes Put ‘Massive Wrench’ in Wall Street Divorces [Bloomberg via Daily Intel]
Source: Dealbreaker | 24 Mar 2010 | 10:45 am What Did Bill Ackman Eat For Lunch The Day He Told MBIA’s CEO To Stuff It?
Oh, and here’s how the meeting went (spoiler alert: not great-ish. Because Ackman’s hands smelled like fish. I’m kidding, it’s because Jay Brown was raised in a barn).
Source: Dealbreaker | 24 Mar 2010 | 10:00 am Former New Jersey Gov. To Run Derivatives BrokerBy Jacob Goldstein Jon Corzine has a new job running an outfit that's had brush with scandal and has been spending more money than it takes in. Sounds a lot like his old job as governor of New Jersey. (Thanks, folks. I'll be here all year. Anybody out there from Jersey?) Anyway: Corzine will be CEO of MF Global Holdings, a broker that works in the derivatives market. The company, which describes itself as "a leading provider of customized solutions in the global cash and derivatives markets," recently reported a quarterly loss; back in 2008, it went through a scandal with a rogue trader, the AP reports. "MF Global is a firm with tremendous potential and excellent talent," Corzine said in a statement. "I see a substantial opportunity for the firm to expand its leadership position in serving clients globally in cash and derivatives markets." Corzine, who ran Goldman Sachs before he ran New Jersey, will also be a visiting professor at Princeton, the university said yesterday. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 24 Mar 2010 | 9:54 am Richard Kang Likes Brazil, China Infrastructure ETFs: AudioSource: Bloomberg - All Podcasts | 24 Mar 2010 | 9:36 am DOE Surprise… Refineries Coming Back (OIH, USO, VLO, SUN, HES)If you have followed the oil patch, the news from the refining sector has been abominable. Overall, we have seen many weeks where the United States refining capacity was not even running at 80%. This morning we saw some Department of Energy data on the weekly inventories. The supply had some mixed data, but there [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 8:48 am Today’s Best Market Rumors (March 24, 2010)Updated throughout the trading day…. This was out yesterday throughout the day but there have been rumors that Palm, Inc. (NASDAQ: PALM) may ditch the WebOS for Android. Hardly seems fathomable, problems at Palm or not… (Wired) More rumors keep coming about the Nintendo (NTDOY) 3DS launch after the company’s own announcement. Verizon Communications (NYSE: VZ) is rumored [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 8:29 am Arthur Levitt: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 24 Mar 2010 | 7:24 am Kenneth Feinberg: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 24 Mar 2010 | 7:22 am Marc Chandler: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 24 Mar 2010 | 7:21 am Daniel Clifton: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 24 Mar 2010 | 7:20 am McKee, Donovan on Possible Greek Default: First WordSource: Bloomberg - All Podcasts | 24 Mar 2010 | 7:04 am What Health Care Reform Means for Small Business
How will health care reform affect small businesses? In quite a few ways, it turns out. We sifted through the bill to provide you with the most important small business-related facts. How does the government define a small business? According to the federal government, a small business is company with fewer than 100 employees. Your state may define a small business differently, eg. as a company with fewer than 50 employees. Check with your state to be sure. Who should worry? Companies with more than 50 employees–you won’t get any tax credits. Companies who provide their employees with “Cadillac” health insurance (it will be taxed at 40% starting in 2014). Anyone who likes to be sneaky about cutting costs–the gub’mint will issue handsome fines if they find you’ve avoided their insurance requirements. Starting this year: You can get a 35% tax credit if you have 10 or fewer employees, and they earn less than $25,000 on average. You qualify for a smaller tax credit if you have 25 or fewer employees with an average wage $50,000 or less. You don’t get a tax credit if you have more than 25 employees. Also, any employee who earns more than $80,000/year will be excluded from your credit. Starting in 2014: States must set up health insurance pools called SHOP exchanges (Small Business Health Options Programs). These allow small businesses to group together to buy health insurance. You could receive a 50% tax credit if you’re a company with 10 or fewer employees who earn less than $25,000 on average. You will be penalized $750 per full-time employee if you’re a company with 50 or more employees, and you don’t provide health insurance. The government won’t charge you for the first 30 workers you don’t cover. You will not be penalized if you have fewer than 50 employees. You face additional fines if you don’t cover 60% of overall employee health costs, as well government-defined set of services. How much do you have to cover? If you offer your employees health insurance: * You must cover no less than 72.5% of the cheapest health plan you offer for individuals, and no less than 65% for families. *You must pay the Health Choices Commissioner (the person in charge of the SHOP exchange fund) 8% of the average wages paid during a predefined period of enrollment. They charge you a lower percentage if your annual payroll is less than $400,000. *You don’t cover your employees and don’t pay your SHOP fee. You’re fined $100 per violation day. Also note: If you operate as a partnership, each partner counts as an employee. There are a few House amendments that the Senate may pass this Sunday. If they pass, it means that: -The penalty for not providing insurance will go up to $2,000.
Source: Business Pundit | 24 Mar 2010 | 7:01 am Tiger Apologizes, Announces Return, and Now…Devon James?
Any ‘fessing up Tiger did on last weekend’s ESPN interview has been wiped dirty again, thanks to porn queen Devon James. James announced on this morning’s Bubba the Love Sponge radio show that Tiger hired her for his other favorite past time. Tiger’s 15th alleged mistress said that she and Tiger met while engaging in a threesome, for which he paid each woman $2,000. Tiger gave James his number. A two-and-a-half year affair followed. Oh, and Tiger, who James called “well-endowed,”, also sent a bunch of dirty text messages. You can hear the full interview here. Former Bush press secretary Ari Fleischer, who also happens to be Tiger’s PR man, must be banging his head against a wall right now. If Tiger really wants to remake his image, he either needs to embrace his not-so-inner pervert or lay low for another 6 months.
Source: Business Pundit | 24 Mar 2010 | 6:39 am Fitch Ratings Downgrades Portugal’s Debt
First, there was the Greek debt crisis. Then Italy sued big banks for its own derivatives crisis. Now Portugal is up to bat. The Fitch ratings agency has downgraded its debt from AA to AA-. The Boston Globe has more: Fitch Ratings said that Portugal’s prospects for recovery were weaker than its peers in the eurozone, adding that this will put make it harder to shrink its budget deficit over the medium term. “A sizeable fiscal shock against a backdrop of relative macroeconomic and structural weaknesses has reduced Portugal’s creditworthiness,” said Douglas Renwick, Associate Director in Fitch’s Sovereign team. Fitch said the Portuguese government has to implement “sizeable” spending cuts and tax increases to meet its target of getting its deficit to 3 percent of economic output by 2013. Despite the downgrade, Portugal’s debt is still considered investment grade and still a few notches above its rating of crisis-stricken Greece. The BBC mentions the impact the Fitch downgrade could have on the Eurozone: The downgrade could mean Portugal has to pay higher yields on government bonds to attract investors, making it more expensive for the country to borrow money – even though other leading ratings agencies may not necessarily follow Fitch’s lead. Analysts stressed the wider European impact the downgrade could have. “The downgrade has more impact on the wider sovereign debt crisis, rather than on Portugal at the moment,” said Peter Chatwell at Credit Agricole.
Source: Business Pundit | 24 Mar 2010 | 6:35 am Corporate America's $33 Billion Tax RefundBy Jacob Goldstein JPMorgan Chase is looking to benefit from a $1.4 billion tax refund, the WSJ reports. The money is part of a bigger refund due to Washington Mutual, which failed during the crisis; JPMorgan is in the mix because it took over WaMu's banking operations. The WSJ has all the details on the fight over the money. But the broader context here is pretty interesting; the money at stake is a small piece of a corporate tax refund that will cost the government an estimated $33 billion this year. The refund was part of a stimulus bill that passed last year. (Not the big stimulus bill that passed early in the year, but a smaller bill that passed in November.) The bill allowed companies to carry back losses they incurred during 2008 and 2009 against profits they had made in the previous five years. For example, consider a company that was profitable in 2004, 2005 and 2006, and paid taxes on those profits. If that company lost money in 2008 and 2009, it could subtract those losses from the profits it made in 2004-2006 -- and get a refund on the taxes it paid during the years it was profitable. (Existing law allowed companies to do this sort of thing, but only going back two years, rather than five years.) This isn't a particularly efficient way to stimulate the economy -- every tax dollar refunded to a corporation through this mechanism results in somewhere between zero and 40 cents of GDP growth, according to a CBO report issued last year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 24 Mar 2010 | 6:30 am In the Spirit of Joe Biden…
Source: Business Pundit | 24 Mar 2010 | 5:10 am
|
