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The Beauty-Salon Economy Of A Haitian Tent CityPort-au-Prince's biggest tent city -- population 50,000 -- sprung up on a golf course soon after the earthquake. Almost as quickly, an informal economy appeared, complete with a makeshift movie theater and lots of full-service beauty salons that compete with each other for business. Planet Money's Adam Davidson visited the salon (and the rest of the tent city) as part of a joint project with Frontline; you can watch the video above, and listen to the story on Morning Edition. For more of our Haiti coverage, listen to our conversations with the Prime Minister, a micro-entrepreneur and Mango Man Jean Maurice Buteau » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 26 Mar 2010 | 4:25 am European markets ambivalent over Greek aid plan (AP)
Source: Yahoo! News: Stock Markets News | 26 Mar 2010 | 4:14 am European markets ambivalent over Greek aid plan (AP)
Source: Yahoo! News: Business News | 26 Mar 2010 | 4:14 am BA: 'No compromise' on crew perksBA boss Willie Walsh insists travel perks will never be reinstated for striking cabin crew, but he is still open for peace talks.Source: BBC News | Business | World Edition | 26 Mar 2010 | 4:10 am Euro zone hopes Greece deal will impress market (Reuters)
Source: Yahoo! News: Business News | 26 Mar 2010 | 4:04 am US credit card hacker sentencedA US court sentences computer expert Albert Gonzalez to 20 years in prison for stealing credit card numbers.Source: BBC News | Business | World Edition | 26 Mar 2010 | 4:03 am Greece deal lifts euro off 10-month lowsGlobal Markets Overview: Shares rise and dollar falls as risk appetite returns, with investors hoping that the deal over Greece will draw a line under the eurozone fiscal crisisSource: Financial Times - US homepage | 26 Mar 2010 | 4:01 am Toyota extends production shutdown in the UKToyota, the troubled Japanese carmaker, will halt production across the UK for two weeks from Monday, after declining demand caused by safety recall fears and market conditions. Source: Latest Business News from Times Online | 26 Mar 2010 | 3:58 am Wall St futures point to higher open; data eyed(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rose 0.2 to 0.3 percent, pointing to a firmer start on Wall Street on Friday.
Source: Reuters: Business News | 26 Mar 2010 | 3:56 am Wall St futures point to higher open; data eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Mar 2010 | 3:56 am RadioShack evaluating strategic options: report (Reuters)Reuters - U.S. electronics retailer RadioShack Corp is exploring strategic alternatives that include a share buyback or a possible sale of the company that could net more than $3 billion, the New York Post said, citing sources close to the situation.Source: Yahoo! News: Business News | 26 Mar 2010 | 3:53 am RadioShack evaluating strategic options: report(Reuters) - U.S. electronics retailer RadioShack Corp is exploring strategic alternatives that include a share buyback or a possible sale of the company that could net more than $3 billion, the New York Post said, citing sources close to the situation.
Source: Reuters: Business News | 26 Mar 2010 | 3:53 am Turning the tables on e-mail scammersTo Internet fraudsters promising vast riches in exchange for advance fees: meet the scambaiters.Source: Business and financial news - CNNMoney.com | 26 Mar 2010 | 3:53 am Times website to charge from JuneThe Times and Sunday Times newspapers will start charging to access their websites in June, News International announces.Source: BBC News | Business | World Edition | 26 Mar 2010 | 3:49 am Stocks, bonds improve in relieved Greece (AP)
Source: Yahoo! News: Business News | 26 Mar 2010 | 3:45 am Fed agency scanning certain Calpers transacts: report(Reuters) - Los Angeles's justice department is scrutinizing certain investment transactions of public pension funds, including Calpers, the Wall Street Journal said, citing people familiar with the matter.
Source: Reuters: Business News | 26 Mar 2010 | 3:41 am Euro zone hopes Greece deal will impress marketsBRUSSELS (Reuters) - Euro zone leaders received a cautious stamp of approval from financial markets on Friday for their agreement to create a safety net with the International Monetary Fund to help debt-ridden Greece.
Source: Reuters: Business News | 26 Mar 2010 | 3:40 am Euro strengthens on Greece dealThe euro strengthens against the dollar and the pound after eurozone leaders agree a financial aid package for Greece.Source: BBC News | Business | World Edition | 26 Mar 2010 | 3:36 am GM To Pay US $1 BillionThe latest sign of the improbable recovery of GM is that it will pay the Treasury back $1 billion. According to The Wall Street Journal, it would be another step to bring down the $6.7 billion that the car company owes taxpayers. GM’s management says it plans to have the entire amount back to the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Mar 2010 | 3:28 am Eurozone agrees on bailout plan for Greece (AP)
Source: Yahoo! News: Business News | 26 Mar 2010 | 3:23 am BA chief Willie Walsh says loss of strikers' travel perks not negotiableWillie Walsh, the British Airways chief executive, said the decision to strip travel perks from staff who have gone on strike is not negotiable.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Mar 2010 | 3:18 am Euro bounces back on Greece bailout planThe euro bounced back from a ten-month low today, after eurozone leaders agreed on a joint bailout package for Greece with the International Monetary Fund (IMF). Source: Latest Business News from Times Online | 26 Mar 2010 | 3:14 am Aid plan gives Greek bonds, euro modest reliefAn agreement by euro-zone leaders on a joint contingency plan with the International Monetary Fund to provide aid to Greece received a lukewarm reaction in financial markets, with the euro rebounding from 10-month lows and Greek government bond modestly outperforming their counterparts.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 3:14 am Business Bullet: Japan, Sterling, Airlines, PartyGamingThe latest news on: Asia markets, Greek economy and PartyGaming.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Mar 2010 | 3:05 am Indications: Stock futures edge higher ahead of GDP revisionU.S. stock futures pointed slightly higher Friday as investors eyed earnings from Oracle Corp. and also awaited the latest reading of fourth-quarter U.S. growth.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 3:05 am Asia markets rally; Nikkei ends near 18-month highAsian markets post strong gains Friday as worries about sovereign debt problems in Europe diminish and as the euro’s rebound sends Japanese stocks to their highest finish in nearly 18 months.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 3:03 am Radio Shack (RSH) For Sale? Cost Could Be Too HighThe New York Post, not the single most reliable source for business news, says Radio Shack (RSH) is looking for a private equity buyer or an M&A transaction with a larger company like Best Buy (BBY). The paper reports that JPMorgan Chase “appears poised to lead the sales process for RadioShack.” Another alternative that the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Mar 2010 | 3:02 am Democrats send Obama final health measure (AP)
Source: Yahoo! News: Business News | 26 Mar 2010 | 2:58 am London Markets: Utilities add pressure in mildly lower FTSEBroker moves take center stage in the British share market on Friday, with several utility firms pressuring the top index after ratings are downgraded.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 2:58 am National Lottery operator Camelot sold to Canadian teachers' pension fundNational Lottery operator Camelot is to be sold to a pension fund which looks after the interests of 289,000 Canadian teachers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Mar 2010 | 2:52 am Doctor-starved: America's heartland in crisisFor one doctor practicing in America's heartland, the new health care law and its incentives to keep doctors on the farm is a start, not a solution, to the medical care crisis afflicting rural America.Source: Business and financial news - CNNMoney.com | 26 Mar 2010 | 2:52 am Hypo Real Estate narrows losses in 2009 (AP)AP - Nationalized German lender Hypo Real Estate Holding AG says it narrowed its net loss to some euro2.24 billion ($2.98 billion) last year.Source: Yahoo! News: Business News | 26 Mar 2010 | 2:51 am Oil rises to near $81 as US dollar weakens (AP)
Source: Yahoo! News: Business News | 26 Mar 2010 | 2:49 am FHA's Florida fiascoWhat the hell happened to the FHA's loans in Florida?Source: Business and financial news - CNNMoney.com | 26 Mar 2010 | 2:48 am Europe Markets: Europe backs away from highs; Greek banks jumpInvestors mull details of Europe’s plan to support Greece; Greek banks surge.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 2:46 am China may let yuan float if economies improveChina may allow its currency to move more freely if the economy continues to improve, but the move won’t do much to remedy structural economic problems in the U.S., a top adviser to the People’s Bank of China says Friday.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 2:44 am Toyota's $1 billion sales incentiveToyota is trying to buy back a lot of the sales it lost during the recall crisis earlier this year -- in the form of fat incentives for consumers.Source: Business and financial news - CNNMoney.com | 26 Mar 2010 | 2:43 am Toyota Sales Incentives May Cost Firm Record RebatesResearch firm Trucar expects Toyota (TM) to spend $395 million on incentives this month. The company’s incentive per car will be 37% higher than in February and 47% higher than they was in March 2009. Auto research firm Edmunds predicts that Toyota’s sales will be up 82% from February and that the Japanese car company’s market share [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Mar 2010 | 2:42 am Stocks set to gain at the openU.S. stocks were in position to open higher Friday as investors awaited the final revised figure for 4th-quarter economic growth.Source: Business and financial news - CNNMoney.com | 26 Mar 2010 | 2:32 am FTSE 100 falls at open (AFP)
Source: Yahoo! News: Stock Markets News | 26 Mar 2010 | 2:27 am NanoCarrier -2009/10 parent forecastPARENT-ONLY EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 2:18 am News Corp to charge for UK Times online from JuneLONDON, March 26 (Reuters) - News Corp will charge readers for online versions of its UK Times and Sunday Times newspapers from June, becoming the first media firm to test consumers' appetite to pay for...Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 2:17 am UPDATE 1-Siemens sees Q2 oper profit up year-on-year - CFOFRANKFURT, March 26 (Reuters) - German industrial conglomerate Siemens expects to post higher operating profit in its fiscal second quarter than in the same quarter last year, its finance director said...Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 2:06 am SportsWatch: Dubai World Cup's new $2 billion home steals showIn just 15 years the Dubai World Cup has established itself as one of the top racing events of the year. Now a new, extravagant home at Meydan and the biggest prize money in the world are about to make it bigger than ever.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 2:04 am High street sales rise but doubts remainRetail sales rose sharply last month, but the figures for January were worse than originally thought. Source: Latest Business News from Times Online | 26 Mar 2010 | 2:03 am Vodafone to sell Apple iPhone 3GS in IndiaNEW DELHI, March 26 (Reuters) - Vodafone Essar, India's third-largest mobile operator controlled by Vodafone , said on Friday it was selling Apple Inc's iPhone 3GS in the country, effective immediately...Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 1:53 am Euro up on Greece plan; Nikkei hits 18-month high (Reuters)
Source: Yahoo! News: Stock Markets News | 26 Mar 2010 | 1:51 am Media Digest (3/26/2010) Reuters, WSJ, NYTimes, FT, BloombergReuters: The Nikkei topped 11,000 for the first time since October 2008 Reuters: The White House will announce housing aid for those having difficulty with making their mortgage payments. Reuters: A Fed agency is looking at certain Calpers transactions. Reuters: GM is expected to repay $1 billion to the Treasury. Reuters: UBS (UBS) will cut 200 jobs at its brokerage [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Mar 2010 | 1:48 am Hungary's Richter proposes HUF 770 div vs 590BUDAPEST, March 26 (Reuters) - Hungarian drug producer Richter Gedeon has proposed a dividend of 770 Hungarian forints ($3.94) per share from its 2009 earnings, up from 590 forints last year, the company...Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 1:40 am Japan's deflation gloom continuesConsumer prices in Japan are continuing to fall, latest figures show, threatening the country's recovery from recession.Source: BBC News | Business | World Edition | 26 Mar 2010 | 1:39 am BRIEF-Exxon Mobil drills dry North Sea well -directorateOSLO, March 26 (Reuters) - The Norwegian Petroleum Directorate said:Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 1:35 am Great stridesDubai horse racing industry overcomes gloomSource: BBC News | Business | World Edition | 26 Mar 2010 | 1:32 am The Times and Sunday Times websites to charge from JuneThe Times and The Sunday Times will start charging for their websites from June, it was confirmed today. Source: Latest Business News from Times Online | 26 Mar 2010 | 1:31 am Australian stocks: Lacklustre week overThe Australian share market closed slightly higher on Friday as cautiousness concerning recovery in the US and debt problems in Europe remained a dominant theme.Investors turned to defensive stocks early in the day but funds returned...Source: nzherald.co.nz - Business | 26 Mar 2010 | 1:25 am Heathrow runway ruling awaitedThe High Court is set to rule on a judicial review brought against the government's approval of a third runway at Heathrow Airport.Source: BBC News | Business | World Edition | 26 Mar 2010 | 1:19 am Russian markets -- Factors to Watch on March 26MOSCOW, March 26 (Reuters) - Here are events and news stories that could move Russian markets on Friday.Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 1:18 am Even owning a caravan could prevent you qualifying as a first-time buyerMany people said this week's Budget was a bit of a damp squib, given that a General Election is just six weeks away.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Mar 2010 | 1:13 am White House to announce housing aid: sources (Reuters)Reuters - The White House plans to announce on Friday that it will require lenders to lower the mortgage payments of some unemployed workers and encourage lenders to eliminate some principal debt of homeowners who owe more than their home is worth, sources familiar with the plan said on Thursday.Source: Yahoo! News: Business News | 26 Mar 2010 | 1:11 am White House to announce housing aid: sourcesWASHINGTON (Reuters) - The White House plans to announce on Friday that it will require lenders to lower the mortgage payments of some unemployed workers and encourage lenders to eliminate some principal debt of homeowners who owe more than their home is worth, sources familiar with the plan said on Thursday.
Source: Reuters: Business News | 26 Mar 2010 | 1:11 am Investment trusts: 8 of the bestSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Mar 2010 | 1:10 am China becomes last nation to lift ban on US pork (AP)
Source: Yahoo! News: Business News | 26 Mar 2010 | 1:08 am Travel insurance: be prepared for strikes and bad weatherWith British Airways striking it makes sense to know exactly what your travel insurance covers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Mar 2010 | 1:07 am Are investment trusts just for fuddy duddies?One City grandee says the sector has had its daySource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Mar 2010 | 1:03 am Obama to alter mortgage modification effortThe administration will push for three-month breaks for some jobless and give lenders incentives to reduce the principal on delinquent loans. ...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am DreamWorks' 'Dragon' may not be as fierce as visualizedIf audiences respond, the 3-D feature could overcome a slow start at the box office with an extended run.The dragon may not roar too loudly at the box office this weekend.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am Healthcare overhaul law shifts focus to preventing illness and keeping people fitThe new healthcare reform law covers a lot of ground -- at about 2,400 pages, it's roughly twice as long as "War and Peace."
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am Obama to alter mortgage modification effortThe administration will push for three-month breaks for some jobless and give lenders incentives to reduce the principal on delinquent loans.Reporting from Orange County and Washington -- In a renewed bid to stave off foreclosures, the Obama administration will propose measures Friday to give some jobless homeowners a three-month break on payments and give lenders more incentives to reduce the principal on delinquent loans.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am 30-year fixed mortgage rates rise slightlyThe average rate offered by lenders this week increases to 4.99% from 4.96% last week. The average rate on 15-year fixed loans edges up to 4.34%. ...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am Karaoke industry may be facing the musicBookings at clubs have dropped and sales of machines and software have plunged as wannabe pop stars shift to living room video games and online streaming services.In its heyday, booking a room at the Parao Karaoke Club in Koreatown was tougher than, well, hitting the right note for "My Way."
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am Healthcare overhaul law shifts focus to preventing illness and keeping people fitThe new healthcare reform law covers a lot of ground -- at about 2,400 pages, it's roughly twice as long as "War and Peace."Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am E-mails to Steve Jobs get replies -- from Steve Jobs!The Apple chief's terse individual messages thrill fans and circulate on blogs. It took just one word for Apple...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am Toyota names chief quality officer for North AmericaSteve St. Angelo, a veteran executive, will lead a group to improve vehicle quality while giving North American operations more autonomy in a company known for Japan-centric decision-making.Toyota Motor Corp. on Thursday named a veteran manufacturing executive to lead its North American Quality Task Force, an internal group created to improve the quality of its vehicles in the aftermath of recalls to address unintended acceleration.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am E-mails to Steve Jobs get replies -- from Steve Jobs!The Apple chief's terse individual messages thrill fans and circulate on blogs.It took just one word for Apple Inc. to make headlines.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am DreamWorks' 'Dragon' may not be as fierce as visualizedIf audiences respond, the 3-D feature could overcome a slow start at the box office with an extended run. The...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am Toyotas' sudden acceleration blamed for more deathsIncluding a recent surge of complaints, the defect has been raised as a possible cause of 102 fatalities, according to NHTSA records, lawsuits and police reports.More than 100 deaths have now been blamed on sudden acceleration of Toyota Motor Corp. vehicles, nearly twice the number that had been reported two months ago, according to a Times review of public records.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am Karaoke industry may be facing the musicBookings at clubs have dropped and sales of machines and software have plunged as wannabe pop stars shift to living room video games and online streaming services. ...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am Hollywood wants movie bets off the tableThe MPAA tells regulators that plans for two futures exchanges would tarnish the industry's integrity and reputation.Hollywood's big movie studios are trying to ensure that there's no future for box-office futures.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am Hollywood wants movie bets off the tableThe MPAA tells regulators that plans for two futures exchanges would tarnish the industry's integrity and reputation. ...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am Toyotas' sudden acceleration blamed for more deathsIncluding a recent surge of complaints, the defect has been raised as a possible cause of 102 fatalities, according to NHTSA records, lawsuits and police reports. ...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am Toyota names chief quality officer for North AmericaSteve St. Angelo, a veteran executive, will lead a group to improve vehicle quality while giving North American operations more autonomy in a company known for Japan-centric decision-making. ...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am Chinese firm buys Marriott in downtown L.A.Shenzhen New World Group Co. buys the 469-room hotel out of foreclosure for an estimated $60 million, about half of what it sold for in 2007. Shenzhen plans to invest $13 million in upgrades.The Los Angeles Marriott Downtown has been purchased out of foreclosure by a Chinese real estate development company that vows to improve the aging hotel, which caters to business travelers.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am Chinese firm buys Marriott in downtown L.A.Shenzhen New World Group Co. buys the 469-room hotel out of foreclosure for an estimated $60 million, about half of what it sold for in 2007. Shenzhen plans to invest $13 million in upgrades. ...Source: RSS feed - channel BNPaperBusiness | 26 Mar 2010 | 1:00 am 30-year fixed mortgage rates rise slightlyThe average rate offered by lenders this week increases to 4.99% from 4.96% last week. The average rate on 15-year fixed loans edges up to 4.34%.Interest rates offered by mortgage lenders edged higher this week, with the typical rate on a 30-year fixed home loan at 4.99%, up from 4.96% last week, Freddie Mac said Thursday in its weekly report.
Source: L.A. Times - Business | 26 Mar 2010 | 1:00 am NZ stocks: Little changes on FridayThe New Zealand sharemarket ended little changed, with retailer Hallenstein Glasson retreating further, despite reporting a profit surge yesterday.The benchmark NZX-50 index closed up 2.928 points, or 0.09 per cent, at 3240.477....Source: nzherald.co.nz - Business | 26 Mar 2010 | 12:43 am NZ dollar see-sawsThe New Zealand dollar continued to see-saw today, reflecting changing investor sentiment about the financial plight of Greece.The local currency was US70.55c at 5pm from US70.48c at 8am and US70.30c at 5pm yesterday."We are...Source: nzherald.co.nz - Business | 26 Mar 2010 | 12:42 am UPDATE 1-Market Chatter -- Corporate finance press digestBANGALORE, March 26 (Reuters) - The following corporate finance-related stories were reported by media on Friday:Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 12:42 am UPDATE 1-Market Chatter -- Corporate finance press digestBANGALORE, March 26 (Reuters) - The following corporate finance-related stories were reported by media on Friday:Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 12:42 am Asian stock markets climb after Greece rescue planAsian stock markets rose Friday after Europe agreed to a rescue plan for Greece if the country's debt crisis deepens. The region's shares were mixed in early trade before turning higher...Source: RSS feed - channel BNewsBusiness | 26 Mar 2010 | 12:41 am GM expects to repay $1 billion loan to Treasury: report(Reuters) - General Motors Co expects to repay $1 billion to the U.S. Treasury on Wednesday, attempting to settle the loan with the government ahead of schedule, the Wall Street Journal said, citing a person familiar with the plan.
Source: Reuters: Business News | 26 Mar 2010 | 12:40 am Electric cars take drivers to Better Place?Shai Agassi has a simple way to describe Better Place, his modest effort to wean the world off the internal-combustion engine. He says they will make electric cars more convenient and more affordable than gasoline cars.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 12:40 am Caixin Online: Chinese interest-rate hike becomes hot topicThe consumer price index in February soared above the one-year term deposit rate of 2.25%, which meant households lost purchasing power if they put their savings in banks. Economists have begun to wonder when the central bank will raise the interest rate.
Source: MarketWatch.com - Top Stories | 26 Mar 2010 | 12:27 am UBS cuts 200 jobs in its U.S. brokerage unit: source(Reuters) - Swiss banking giant UBS AG has slashed about 200 jobs in its U.S. brokerage unit, a source told Reuters.
Source: Reuters: Business News | 26 Mar 2010 | 12:07 am AIG's near-collapse yields gold for Wall StreetNEW YORK (Reuters) - The crumbling empire of American International Group Inc is helping to pave Wall Street with gold.
Source: Reuters: Business News | 25 Mar 2010 | 11:42 pm Currencies: Dollar slips in Asia, taking cue from equitiesThe dollar edges lower, as buoyant Asian equities markets across increase the appeal of riskier, higher-yielding currencies.
Source: MarketWatch.com - Top Stories | 25 Mar 2010 | 10:39 pm Before You Shop, Consider a Swap (Deal of the Day)Trade your stuff for free -- but watch out for flaky friends.
Source: SmartMoney.com | 25 Mar 2010 | 10:00 pm Testosterone and the Trading Floor (Money and Your Mind)If men trade more and women trade safer, what's the lesson for Wall St.?
Source: SmartMoney.com | 25 Mar 2010 | 10:00 pm Want Bigger Returns? Go to the Pols (By the Numbers)Hough: Companies that spend on lawmakers reap profits for shareholders.
Source: SmartMoney.com | 25 Mar 2010 | 10:00 pm This Isn't Your Father's HasbroThe maker of iconic toys is transforming itself into a global powerhouse.
Source: SmartMoney.com | 25 Mar 2010 | 10:00 pm Tax Tips: Give Your College Kid a Tax Break (Tax Tips)Even if you aren't eligible, Junior can take advantage of these tax credits.
Source: SmartMoney.com | 25 Mar 2010 | 10:00 pm This Week in Business Tweets: Age of Anxiety (Twitter Beat)From the $8 billion iPad app market to Bill Gross on Germany.
Source: SmartMoney.com | 25 Mar 2010 | 10:00 pm Carter Holt sought cash up-front before dealing with Crafar buyersCarter Holt Harvey, the forest products group owned by Graeme Hart, wanted cash up front before dealing with the Chinese investors who are attempting to buy the farms in the failed Crafar family dairying empire, says Kerry Knight,...Source: nzherald.co.nz - Business | 25 Mar 2010 | 9:37 pm Strategic Finance receivers plans to delistReceivers appointed to Strategic Finance earlier this month have applied to NZX to cancel quotation of Strategic Finance's preference shares and to delist the company.Receivers John Fisk and Colin McCloy of PricewaterhouseCoopers,...Source: nzherald.co.nz - Business | 25 Mar 2010 | 9:30 pm Deal reached over Greece's debtsEurozone states agree on a safety net involving IMF help for debt-laden Greece - a move that may bolster the euro.Source: BBC News | Business | World Edition | 25 Mar 2010 | 9:04 pm NZ, the US and trade liberalisation: don't panic!If one was to believe some of the recent media articles in New Zealand, it would be easy to think that we're completely mad to be negotiating a freeSource: nzherald.co.nz - Business | 25 Mar 2010 | 9:00 pm Medicare tax hikes: What the rich will payHigh-income households will be paying more into Medicare as a result of the new health reform law and the "fixes" to that package that passed Thursday.Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 8:54 pm Oil surge sees NZ imports rise for first time in a yearMerchandise imports have increased for the first time in almost a year, underpinned by a surge in the amount of crude oil brought into the country, figures out today show.Imports rose in February, compared to a year earlier, for...Source: nzherald.co.nz - Business | 25 Mar 2010 | 8:30 pm Washington to run student loansCongress passed a bill Thursday to make Washington the one-stop shop for cheap student loans and to boost need-based scholarships.Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 7:33 pm Stock takes : Expansion a Shore thing for Forsyth BarrDespite the talk about more consolidation in the broker community it seems at least one firm is expanding.Forsyth Barr is opening a new office on Auckland's North Shore. Forsyth Barr managing director Neil Paviour-Smith says the...Source: nzherald.co.nz - Business | 25 Mar 2010 | 7:30 pm The Changing Numbers On Urban SlumsBy Ethan Arrow The number of people living in the world's urban slums is rising -- but the number of city dwellers who don't live in slums is rising even faster. Check out this graphic from the Economist. It shows how, in many developing countries, the percentage of urban dwellers who live in slums fell significantly between 1990 and 2007. Worldwide, the percentage of the percentage of the world's urban population fell from 40% to 33% during that time. In the past decade, 200 million people have moved out of slum conditions, the the UN said in a report released last week. During the same time, though, the total number of people living in slums rose to more than 800 million. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Mar 2010 | 7:20 pm Crafar farm sales months awayThe sale of the Crafar family farms to Chinese investor UBNZ Ltd. is as much as two months away because the would-be purchaser has passed none of the hurdles required by the Overseas Investment Office.Under the Overseas Investment...Source: nzherald.co.nz - Business | 25 Mar 2010 | 7:00 pm TSX dips on energy, materials (Reuters)Reuters - The TSX ended slightly lower on Thursday as energy stocks declined late in the session on global debt concerns, offsetting a rise in financials.Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 6:56 pm Obama to announce new housing planThe Obama administration was poised to announce a new plan aimed at tackling the US housing crisis, which was at the root of the financial meltdown of 2008 and continues to hamper the economic recoverySource: Financial Times - US homepage | 25 Mar 2010 | 6:29 pm Banker sacked for being 'too successful' wins multi-million pound legal battleAn investment banker who claimed he was sacked for being "too successful" has won a multi-million pound action against his former employers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 6:21 pm Budget 2010: Treasury defends growth forecastsThe Chief Secretary to the Treasury has defended the Chancellor's assumption that growth will rebound strongly in 2011, despite being far more optimistic than independent forecasts.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 6:20 pm Independent owners pay former KGB spy £9m to take papers off their handsIt must rate as one the best ever reader offers. Buy The Independent for its £1 cover price and get control of the paper, its Sunday sister and £9.25m to boot.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Mar 2010 | 6:20 pm The Perfect Plan To Save The Housing Market: Eliminate All Mortgage PaymentsIt would be hard to come up with a better way to stop the rising rate of foreclosures than to eliminate mortgage payments altogether. The Office of the Comptroller of the Currency and the Office of Thrift Supervision fourth quarter report on “mortgage metrics” showed that mortgage modifications that cut monthly home payments, including those under [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 6:15 pm Plane India...is not so plain - private air travel is soaringSource: BBC News | Business | World Edition | 25 Mar 2010 | 6:12 pm WSJ's New York section to hit streets April 26 (AP)AP - The Wall Street Journal's expanded coverage of New York will begin April 26 as the newspaper attempts to appeal to more readers in the most populous U.S. city.Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 6:09 pm Eurozone agrees to Greek rescue dealAthens would, in the event of ‘very serious difficulties’, receive co-ordinated bilateral loans from its eurozone partners as well as IMF assistanceSource: Financial Times - US homepage | 25 Mar 2010 | 6:07 pm Chinese Googlie?Google short-term won't miss China - but what then?Source: BBC News | Business | World Edition | 25 Mar 2010 | 6:05 pm Fraud detectives step up searches in Alstom bribery inquiryThe Serious Fraud Office has stepped up an investigation into suspected bribery by Alstom, the French transport and infrastructure group, extending searches at two locations yesterday. Source: Latest Business News from Times Online | 25 Mar 2010 | 6:01 pm Low point for wealthy savers as Investec puts cap on its High 5An innovative and highly popular savings account that ensures British depositors receive an attractive interest rate in perpetuity has been dropped for new customers. Source: Latest Business News from Times Online | 25 Mar 2010 | 6:01 pm January retail revision sparks recovery fearsA rebound in retail sales during February has been overshadowed by a sharp downward revision to high street trade at the beginning of the year, raising questions over the strength of Britain’s economic recovery. Source: Latest Business News from Times Online | 25 Mar 2010 | 6:01 pm Japanese sense of despair reflected in tidal wave of bleak new manga comicsAt the Kinokuniya bookshop in the heart of Tokyo’s shimmering financial district the economic texts and business guru biographies have been shoved aside to make room for a section on poverty and despair. Tailored to reflect the dismal mood of 21st-century Japan, and named after The Lower Depths, the relentlessly bleak play of Maxim Gorky, the display creaks with dozens of works on penury, failure and defeat. All in cartoon form. Source: Latest Business News from Times Online | 25 Mar 2010 | 6:01 pm Former KGB spy Alexander Lebedev buys Independent for £1A former KGB spy and his 29-year-old son bought The Independent newspaper titles yesterday for £1 — the same price as a copy of the ailing daily. Source: Latest Business News from Times Online | 25 Mar 2010 | 6:01 pm Dubai World lands $9.5 billion state bailout$Dubai unveiled a long-awaited rescue package for its struggling Dubai World group yesterday, proposing to repay all of its $23.5 billion ($£15.8 billion) debt if its banks agree to forgo repayment for up to eight years. Source: Latest Business News from Times Online | 25 Mar 2010 | 6:01 pm Open skies deal leaves US rules intactThe US rebuffed European efforts to loosen contentious foreign ownership rules protecting US airlines that have been a sticking point in transatlantic aviation negotiations for yearsSource: Financial Times - US homepage | 25 Mar 2010 | 5:46 pm Oracle sees software sales upBOSTON (Reuters) - Oracle Corp issued its strongest sales forecast in more than a year as a rebound in corporate technology spending boosted demand for its computer programs.
Source: Reuters: Business News | 25 Mar 2010 | 5:37 pm Polycom draws more private equity attentionThe Gores Group, a Los Angeles-based private equity firm, has resumed its push for a merger between one of its portfolio companies and thevideo-conferencing specialist, people familiar with the situation saidSource: Financial Times - US homepage | 25 Mar 2010 | 5:35 pm Bankruptcy is for cowards, says HendersonDavid Henderson, the Auckland property mogul who created about $1 billion of real estate, says agreeing to bankruptcy would be "cowardly" and way too easy.The Princes Wharf developer, who this week faced down creditors including...Source: nzherald.co.nz - Business | 25 Mar 2010 | 5:30 pm Nuclear boost for Obama foreign policyA landmark nuclear deal with Moscow is due to be formally unveiled in the clearest sign yet that the US president is on the cusp of what would be his most important foreign policy success to dateSource: Financial Times - US homepage | 25 Mar 2010 | 5:26 pm Toyota warned dealers of crash risk in 2007DETROIT (Reuters) - When Toyota Motor Corp concluded that seemingly harmless floormats posed a danger in all of its cars and trucks, the automaker sent a stark warning intended to prevent crashes.
Source: Reuters: Business News | 25 Mar 2010 | 4:50 pm Real Estate, Financial Regulation, Investor Survey: TakingStockSource: Bloomberg - All Podcasts | 25 Mar 2010 | 4:41 pm Write-Offs: 03.25.10$$$ UBS Paring Ranks at U.S. Brokerage [WSJ] $$$ GE CFO: Great Hire, Deutsche Bank [TSC] $$$ Blogging For Bankers [CNN Money] 
Source: Dealbreaker | 25 Mar 2010 | 4:30 pm Presented By:Source: Dealbreaker | 25 Mar 2010 | 4:30 pm Oracle's Sun deal off to fast startOracle's Sun integration got off to a fast start, as the company on Thursday reported an 18% sales increase from the year-ago quarter.Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 4:28 pm Dubai World in line for $9.5bn injectionThe emirate unveiled a long-awaited debt-restructuring plan, pledging to inject funds into its troubled conglomerate – most of which will go to its developer Nakheel and spur the local economySource: Financial Times - US homepage | 25 Mar 2010 | 4:25 pm Summary Box: Stocks give up gains on Greece woes (AP)AP - WHAT GOES UP: Major stock indexes rose to new highs for 2010 but gave up their gains Thursday after European Central Bank President Jean-Claude Trichet criticized a financial bailout for Greece.Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 4:20 pm Claymore Securites Launches 3 New ETFs: AudioSource: Bloomberg - All Podcasts | 25 Mar 2010 | 4:19 pm How LinkedIn will fire up your careerIf you need a job, or just want a better one, here's a number that will give you hope: 50,000. That's how many people the giant consulting firm Accenture plans to hire this year. Yes, actual jobs, with pay. It's looking for telecom consultants, finance experts, software specialists, and many more. You could be one of them -- but will Accenture find you?Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 4:14 pm How the major stock indexes fared on Thursday (AP)AP - Renewed concern about Greece's debt problems short circuited the big stock market rally.Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 4:00 pm Stocks give up steep gains on renewed Greece woes (AP)
Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 3:57 pm Treasury, Ahem, Clarifies Goals for the Mortgage Mod Programby Paul Kiel, ProPublica How many struggling homeowners will get a mortgage modification through the government’s $75 billion program? It would seem to be a simple question. But for the past year, the administration has been saying one thing, and observers have been hearing another. What the administration has been saying is that the program “will help [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 3:42 pm Casting The Crisis
As previously mentioned, HBO has purchased the rights to Andrew Ross Sorkin’s Too Big To Fail. John Mack has stated that his part should go to Bobby DeNiro and that of Lloyd Blankfein to Danny DeVito. Today the HuffPo has offered its picks for the other spots and while we’re in strong agreement with some (Stephen Colbert as carpet-lover John Thain, Lucille Bluth doing Nancy Pelosi), in others we beg to differ (there should be an open casting call for child actors to play Tim Geithner). Also, they don’t have any suggestions for Vikram Pandit or Jimmy Cayne. The former is a toughie, the latter Gary Busey, no questions asked (he’s got the blonde hair, huge teeth, love of drugs and looks good in a pair of Zubaz). And finally, no one’s figured out where we can find a place for Drew Carey, who’s apparently been lobbying hard for a role, as has Gary Coleman. Let’s do the producers a solid and take two today to finish this thing off right. You’re not doing anything anyway
Source: Dealbreaker | 25 Mar 2010 | 3:15 pm 10 green myths debunkedThese days most forward-thinking corporations are trying to go green. Trouble is, when it comes to what's really environmentally sound, confusion reigns.Source: Business and financial news - CNNMoney.com | 25 Mar 2010 | 3:12 pm From The Annals Of Restaurant Gimmicks Inspired By Wall Street FetishesComes the Exchange Bar & Grill. The brainchild of an MBA, natch.
Source: Dealbreaker | 25 Mar 2010 | 2:30 pm Oracle.. Great, Good, But Not Enough (ORCL, SAP)Oracle Corporation (NASDAQ: ORCL) came out with earnings today, and as usual it beat estimates. We have seen earnings of $0.38 in non-GAAP EPS on $6.47 billion in revenues (an 18% gain). This compares to Thomson Reuters estimates of $0.37 EPS and $6.35 billion in revenues. The initial reaction here is lower due to the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 2:25 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Thursday:Source: Yahoo! News: Stock Markets News | 25 Mar 2010 | 2:19 pm London faces battle to stop trading shift to eurozoneOn the prompting of Christine Lagarde, the telegenic French finance minister, senior bankers and regulators are finalising plans to launch Europe’s first electronic platform to trade corporate bonds – initially just for French companies, but later for non-French entities tooSource: Financial Times - US homepage | 25 Mar 2010 | 1:45 pm Jamie Dimon Has A Message For Syracuse University
1) Supposedly, Syracuse knows its way around the court 2) That they’re playing tonight 3) That they have a chance to go all the way 4) That fans and alums erroneously believe that calling the place ‘Cuse is cool I also know something significantly more important than Syracuse University: James Dimon. And the fact that he’s about to become an honorary Orangeman. And in case you’ve failed to notice, Jamie Dimon is a winner and he will not be made a fool (I’m looking at you Atlanta prosecutors). He accepted this speaking engagement on the condition that he would be addressing champions. Don’t fuck this up.
Source: Dealbreaker | 25 Mar 2010 | 1:15 pm More IPO Filings: Higher One, Oxford Resources, NA-Uni, ScorpioYou have seen the floodgates opening for secondary offerings dues to the market strength, but we are also seeing more legitimate filings from private companies looking to come public via an initial public offering. Higher One Holdings Inc. and Oxford Resource Partners, LP are two initial public offerings we have seen this week. We have [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 1:13 pm A Bank Failure, One Year LaterBy Jacob Goldstein A year ago, Chana Joffe-Walt told the story of how the FDIC takes over a failed bank. There's a lot of cloak-and-dagger stuff: The FDIC people check into a hotel under an assumed name, then swoop in and close the bank late on a Friday afternoon. And there's plenty of human drama. Two months after the FDIC had closed the bank, one employee was still wearing his bank name tag and introducing himself as "Todd Zalk, Bank of Clark County, the best community business bank because we've changed the game in business banking." In a follow-up airing later today on All Things Considered, Chana learns that Zalk got a new job. She also learns that one of Zalk's former colleagues -- Clark County Bank's chief loan officer -- pleaded guilty to concealing bad loans from bank regulators. We'll have more from Todd Zalk -- and the FDIC regulator who closed Clark County Bank -- on tomorrow's podcast. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 25 Mar 2010 | 1:12 pm Bank of America Reduces Some Homeowners’ Debt
Bank of America is starting an invite-only program that forgives you of your mortgage debt. A small number of homeowners holding high-risk mortgages issued by Countrywide Financial will qualify for the program, which reduces your mortgage by up to 30%. Your mortgage amount must be 20% greater than the value of your home, you must demonstrate hardship, and your mortgage payment be at least 60 days overdue. The New York Times has the scoop: As the housing market shows signs of possibly entering another downturn, worries about foreclosure are growing. With the volume of sales falling, prices are sliding again. When the gap increases between the size of a mortgage and the value that the home could fetch in a sale, owners tend to give up. Cutting the size of the debt over a period of years, however, might encourage people to stick around. That could save homes from foreclosure and stabilize neighborhoods. “Banks are willing to take some losses now to avoid much greater losses later if the housing market continues to spiral, and that’s a sea change from where they were a year ago,” said Howard Glaser, a housing consultant in Washington and former government regulator. Most existing modification programs focus on reducing interest or extending the term of a loan, according to the Wall Street Journal, which says an estimated 45,000 people will see at least a $60,000 reduction in principal through the program. Instead of opting out of payments, the theory goes, homeowners will resume monthly payments and stay in their homes. If house prices go back up, BofA said it would cut the amount of the modification. Bank of America just settled with the state of Massachusetts over predatory lending. The state required the bank to include principal reductions as part of the settlement. BofA also received bad publicity several weeks ago for seizing a woman’s parrot. Its unprecedented move, however politically coerced, comes at a good time to curry public favor.
Source: Business Pundit | 25 Mar 2010 | 12:36 pm Fed outlines balance sheet planBen Bernanke, Federal Reserve chairman, said low interest rates remained necessary to tackle a ‘very weak’ US labour market, even as the central bank moves forward with plans to tighten monetary policy once the recovery strengthensSource: Financial Times - US homepage | 25 Mar 2010 | 12:14 pm Greece Finally Gets Unanimity For Financial Backing, MaybeGerman Chancellor Angela Merkel and French President Nicolas Sarkozy have finally decided, after bilateral talks, to allow the IMF to join any bailout of Greece. Dow Jones Newswires reports “The support of France is crucial for Merkel, who has been lobbied for this solution for several days. Sarkozy has in the past opposed involving the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 11:48 am Marijuana Tax: Coming Soon?
Different strains of medical marijuana at Coffeeshop Blue Sky in Oakland, California. (Justin Sullivan/Getty Images) By Jacob Goldstein A measure that would legalize possession of marijuana will be on the ballot in California this fall. The proposal would allow "personal consumption" of the drug, and would let local governments pass ordinances to legalize and tax its cultivation and sale. As loyal Planet Money readers will recall, estimates from a Harvard economist suggest that marijuana may not be much of a tax windfall for local governments. Of course, the tax revenues aren't really the main point of the ballot measure. "We're one step closer to ending cannabis prohibition and the unjust laws that lock people up for cannabis while alcohol is not only sold openly but advertised on television to kids every day," Richard Lee, the measure's main backer, told the L.A. Times. (The paper say Lee is an "Oakland marijuana entrepreneur.") The Obama administration has said it won't go after medical marijuana dispensaries that are following state laws. And, as KXJZ reports today, those shops are moving further into the business mainstream, with some insurance companies starting to sell dispensaries coverage against fire, theft and the like. But legalizing the drug for everyone may not fly with the feds. Obama's drugs czar recently spoke out against legalization in a speech to police chiefs in San Jose, the LAT notes. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Mar 2010 | 11:45 am Chinese companies debate links with GoogleA wave of Chinese businesses are reconsidering their ties with Google in the wake of the US internet company’s move to confront their government over internet censorshipSource: Financial Times - US homepage | 25 Mar 2010 | 11:35 am Putting a new spin on retroMarketers are always trying to keep up with the changing times. And these days, what's retro is getting an update. Jeremy Hobson reports.Source: Marketplace | 25 Mar 2010 | 10:56 am Tracing the impact of roadsAuthor Ted Conover talks with Kai Ryssdal about his new book, "The Routes of Man," and how roads are changing the world.Source: Marketplace | 25 Mar 2010 | 10:56 am Will overhaul lead to doctor shortage?Texas Tech University's medical school says it will start offering a three-year degree program for primary care doctors because it's anticipating a doctor shortage. And it may get worse as the overhaul is implemented. Nancy Marshall Genzer reports.Source: Marketplace | 25 Mar 2010 | 10:56 am No advertising love for single womenAn increasing number of women are single --- getting married later, not at all, or single later in life. So why aren't more advertisements directed their way? Ashley Milne-Tyte reports.Source: Marketplace | 25 Mar 2010 | 10:56 am iPad ads may give publications a boostThe iPad will soon go on sale, and newspapers and magazines have been selling ads for the sleek little gadget like it's 1999. Stacey Vanek-Smith reports.Source: Marketplace | 25 Mar 2010 | 10:56 am A new normal for the stock marketThe S&P 500's just a couple percentage points shy of where it was back in July 2006. So is the stock market now back to where it was during more "normal times?" Bob Moon reports.Source: Marketplace | 25 Mar 2010 | 10:55 am Recession aids in Social Security lossesThe Congressional Budget Office says this year Social Security will start paying out more than it's bringing in from payroll taxes, at least five years sooner than was expected. Alisa Roth reports.Source: Marketplace | 25 Mar 2010 | 10:55 am Fed President: We Granted Favors To Megabanks. Now We're Paying The Price.By Jacob Goldstein The U.S. created a financial system dominated by a handful of big, powerful financial firms that were granted special favors by the federal government. The result is a risky system that's not very good at getting money to businesses that need it. This sentiment comes not from some street-corner radical but from Thomas M. Hoenig, the president of the Federal Reserve Bank of Kansas City. In a speech yesterday, Hoenig was not afraid to say he told you so: In a 1999 speech on financial megamergers, I concluded that, "To the extent these institutions become 'too big to fail and ... uninsured depositors and other creditors are protected by implicit government guarantees, the consequences can be quite serious. Indeed, the result may be a less stable and a less efficient financial system." More than a decade later, the only thing I can change about that statement is the government guarantees are no longer juts implicit. Actions during the financial crisis have made this protection quite explicit. To fix this, he calls for stronger rules that limit how much money big finance firms can borrow; guidelines for letting huge firms fail; and for enacting the Volcker Rule, which would ban financial holding companies from betting their own money in the markets. Bonus Banking: Read Bernanke's testimony today to Congress on exiting the stimulus program (largely a rehash of familiar ground), and a list of homework assignments from the vice chairman of the Fed's Board of Governors. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Mar 2010 | 10:35 am The Top 10 Small Towns to Buy a HouseFixr.com sent us a neat infographic on the 10 best small towns to buy a house. Are any of these towns familiar to you?  Source: Fixr
Source: Business Pundit | 25 Mar 2010 | 10:23 am Breaking: Ivy Leaguers, Rarity On Wall Street, Try Hands At Finance Trailblazer Kids, we live in a crazy time. What’s up is down, what’s down is up. Nothing is predictable and you never know what’s gonna happen. Take this groundbreaking piece of news: Mark Coury, a forward on the Cornell basketball team and finance major will be interning at Goldman Sachs this summer. Even crazier, despite being a college athlete, Coury demonstrates remarkable comparative analysis skills and a basic understanding of numbers.
But the shocks don’t end with Mark. Apparently, and I know this going to sound crazy, other people from this Ivy League school have gone down this road less traveled.
Source: Dealbreaker | 25 Mar 2010 | 10:15 am Sometimes “No Comment” is the Best ReplyWhen George Bush wiped his hand on Bill Clinton’s shirt after shaking hands with some people in Haiti, reporters at the Chicago Sun-Times asked about it. Bush spokesman David Scherzer replied “No comment.” Although “no comment” is often an annoying, evasive reply, in this case, the video speaks for itself. Nobody could possibly add to this.
Source: Business Pundit | 25 Mar 2010 | 10:10 am BioHealth Business Daily (BMRN, CRXX, MELA, GENZ, SLXP, SCLN, SOMX, WCRX, DNDN, CTIC)Today’s BioHealth Business Daily has many new names and less followed companies, but there are some of the larger movers to consider today as well. We are seeing news-related moves in many stocks from BioMarin Pharmaceutical Inc. (NASDAQ: BMRN), CombinatoRx, Incorporated (NASDAQ: CRXX), Electro-Optical Sciences, Inc. (NASDAQ: MELA), Genzyme Corporation (NASDAQ: GENZ), Salix Pharmaceuticals Ltd. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 25 Mar 2010 | 9:56 am Wisconsin Regulators Take Over Ambac’s Bad Assets
Ambac Financial Group, Inc. is finding some of its bad assets under the control of Wisconsin state regulators today. Ambac doesn’t have enough money to pay out on about $35 billion in insurance contracts. Regulators are forcing the company to put the failing contracts in a separate account, where they can then dispose of them. Reuters has the story: The segregated account will include guarantees against default that Ambac sold on mortgage securities, repackaged consumer loans known as collateralized debt obligations of asset-backed securities, and other instruments. Ambac Assurance Corp (an Ambac business unit) will put $2 billion of notes into the segregated account, which will in turn be used to help pay claims. The Wisconsin Office of the Commissioner of Insurance (OCI) will administer the segregated account. Any losses will still be borne by Ambac. Bond insurers like Ambac charge bond issuers a fee and in exchange guarantee bonds against default. If guaranteed bonds do default, Ambac must step in to make interest payments and ultimately repay principal. Ambac’s capital levels have become severely strained by the mortgage crisis, which forced it to make big payouts on a number of complicated repackaged mortgage bonds and other instruments. Bond insurers broadly suffered from making big bets on the mortgage market, which took them away from their main business of guaranteeing bonds issued by states and cities. Ambac is negotiating settlements with several major contract holders. Unsurprisingly, the company might also file for bankruptcy.
Source: Business Pundit | 25 Mar 2010 | 9:53 am Marriott Raised to `Overweight' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 25 Mar 2010 | 9:51 am Encima’s Malpass: Surveillance with Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Mar 2010 | 9:28 am Are All Execution Traders Insider Traders Waiting To Happen?According to Bloomberg, yes. As in the case of Moore Capital’s alleged little insider trader, Julian Rifat, who found the “look but don’t touch” rule too difficult to abide.
For any managers hoping to avoid embarrassing headlines and nationally televised perp walks, a suggestion. At the end of each day, allow these guys to strip naked and roll around in the room where you keep the cash. Let them dive, Scrooge-McDuck style into the ball pit of gold coins. Let them rub it where the sun don’t shine. Let them tap that ass. Only when you remove the forbidden fruit aspect of it all will you be able to trust these guys. In marginally related news, here’s some random info about Rifat. Haven’t yet figured out how it can explain his motivation but surely one of you can figure it out.
Source: Dealbreaker | 25 Mar 2010 | 9:28 am Pimco’s Gross: Surveillance with Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Mar 2010 | 9:27 am BOE’s Posen: Surveillance with Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Mar 2010 | 9:26 am Shia LaBeouf’s Gonna Make You Rich
Source: Dealbreaker | 25 Mar 2010 | 8:45 am Presented By:Source: Dealbreaker | 25 Mar 2010 | 8:45 am Societe Generale’s Nixon: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Mar 2010 | 7:53 am State Street’s Herrmann: Surveillance with Prewitt and KeeneSource: Bloomberg - All Podcasts | 25 Mar 2010 | 7:52 am Dennis Gartman: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 25 Mar 2010 | 7:21 am Opening Bell: 03.25.10Credit Suisse Boosts CEO’s Pay (WSJ) SEC Probes Hedge Fund Bets (WSJ) FSA Swoop Hauled In Government Adviser (FT) Jon Corzine’s New Package (Footnoted) CEOS Defy Obama With More Cash Instead of Pay-for-Performance (Bloomberg) Behind Consumer Agency Idea, A Fiery Advocate (NYT) Shades of ‘Wall Street’ in Insider Trading Arrests (DealBook) Blankfein Foundation Pumps $11 Million Into Charity (Bloomberg)
Source: Dealbreaker | 25 Mar 2010 | 7:15 am Taylor on U.K., Greece; Haynes on Stocks: First WordSource: Bloomberg - All Podcasts | 25 Mar 2010 | 7:06 am Dear Steve Jobs: Do You Listen To Planet Money?By Jacob Goldstein Couple noteworthy Apple stories in the morning papers: Send an email to Steve Jobs, and maybe he'll write back, says an article in this morning's Times. He won't write much, and you may not like what he has to say. But if you're an Apple fanboy, you'll be stoked. Like the young entrepreneur who wrote to Steve Jobs complaining that Apple's lawyers wanted him to change the name of iPodRip, a program he wrote. Jobs replied: "Change your apps name. Not that big of a deal. Steve." The reporter who wrote the article also wanted to hear from Jobs. No luck: "Mr. Jobs did not respond to an inquiry about his e-mail habits that was sent to him directly," the article says. On a more serious note: Jerome York, a finance expert who served on Apple's board and headed the company's audit committee, died last week. This morning's WSJ says York's death has renewed "concerns about the board's ability to oversee strong-willed Chairman and Chief Executive Steve Jobs." The dynamic between a company's board of directors and the CEO is often tricky; the board is supposed to be the CEO's boss, but it often seems to be the other way around. York's successor needs to be somebody "with sufficient stature and importance to take the CEO on," one expert told the WSJ. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 25 Mar 2010 | 7:04 am Quite the Spelling Mistake
Source: Business Pundit | 25 Mar 2010 | 5:43 am
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