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US Crop Production High With No Buyers In SightThe under-developing world needs food. The developed world is full. US crop yield reports sunk prices as the U.S. Agriculture Department’s Prospective Plantings numbers showed that farmers are having a record year. The Wall Street Journal reports that “Based on its survey of 86,000 farmers during the first half of March, the USDA said corn growers intended [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Apr 2010 | 4:13 am Offshore Atlantic drilling divides (AP)AP - From Delaware to Florida, President Barack Obama's decision to open portions of the East Coast to oil and gas exploration is getting a mixed reception.Source: Yahoo! News: Business News | 1 Apr 2010 | 4:04 am Manufacturing rises at fastest pace in 15 yearsBritish manufacturing activity continued to expand at record pace in March, according to a key survey, adding to hopes that Britain can sustain economy recovery during the first quarter. Source: Latest Business News from Times Online | 1 Apr 2010 | 4:01 am Gordon Brown accused of 'cover-up' over sale of Britain's goldPM accused of "cover-up" over sale of Britain's gold after Treasury documents indicated the Bank of England had refused to support the policy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 4:01 am Motorists hit by fuel duty riseMotoring organisations predict petrol prices could hit a record this weekend as fuel duty rises by one pence a litre.Source: BBC News | Business | World Edition | 1 Apr 2010 | 4:00 am World stocks get lift from manufacturing data (AP)
Source: Yahoo! News: Stock Markets News | 1 Apr 2010 | 4:00 am AOL and others fashion a new news industryAOL Inc. has made investing in news content a pillar of its rebirth as an independent company, a seemingly counterintuitive move at a time when the news business is wracked with uncertainty.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 4:00 am China’s On Fire As Factory Production Rises AgainThe recession and unemployment across the world must have been cured. How else could China’s factories push out more and more products every month as concerns about its economy overheating grow? China’s purchasing managers’ index rose to 55.1 in March from 52.0 in February, the government said. Reuters reports that the ”HSBC/Markit survey rose to 57.0, the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Apr 2010 | 3:59 am Can't afford health care? Wait 'til JuneFor millions of uninsured or underinsured Americans, health reform legislation will soon remove some of the barriers preventing them from getting the coverage they need.Source: Business and financial news - CNNMoney.com | 1 Apr 2010 | 3:59 am Indications: U.S. futures climb on overseas manufacturing dataU.S. stock futures point to a stronger start Thursday ahead of a three-day break, helped by overseas data that suggested the global economic recovery is on an upswing.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 3:59 am Futures Movers: Oil rises above $84/bbl after strong economic dataOil futures rise for a fourth session to trade above $84 a barrel, as strong manufacturing data from China and the euro zone boost hopes of a speedy recovery in the global economy and energy demand.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 3:52 am Tax write-offs for your new businessQuestion: I am still in school and plan to open my own dance studio. If I teach dance for a small additional income or teach for free, would I be able to write off workshops on my taxes as a part of my business -- and would I break even? -Katie, Las Cruces, N.M.Source: Business and financial news - CNNMoney.com | 1 Apr 2010 | 3:51 am Economic Report: Germany leads factory surge, Greece fallsManufacturing activity across the 16-nation euro zone grew at its fastest pace since June 2006, according to the final Markit euro-zone manufacturing purchasing-managers index for March, released Thursday.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 3:47 am Experts Say iPad Could Break The Back Of AT&T NetworkAT&T (T) has spent months building up its crippled wireless network which has been overloaded by data sent to and from Apple (AAPL) iPhones. The telco says it has finally cured most of the problems through large investments in its 3G cellular infrastructure, particularly in big cities. The new Apple iPad is not supposed to put as [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Apr 2010 | 3:45 am China factories crank up as demand risesBEIJING (Reuters) - Factories in China and India cranked up production in March and Japanese business morale rose to its highest in more than a year on signs of improving global demand, boosting hopes for a sustainable economic recovery.
Source: Reuters: Business News | 1 Apr 2010 | 3:40 am Should I sign up for my 401(k)?Question: My employer offers a retirement savings plan. I'm turning 30 this year and I'm wondering whether to enroll in it. Do you think I should? --P.J., Boston, Mass.Source: Business and financial news - CNNMoney.com | 1 Apr 2010 | 3:31 am Loans limited to the 'risk-free'Personal loans and overdrafts will only be available to "better quality" borrowers in the next three months, lenders say.Source: BBC News | Business | World Edition | 1 Apr 2010 | 3:31 am Virgin Blue to buy new aircraftAustralian airline Virgin Blue says it will buy up to 105 new aircraft from manufacturer Boeing in its biggest single order.Source: BBC News | Business | World Edition | 1 Apr 2010 | 3:29 am Market scams: a guide for investorsInvestors can find themselves the victim of a number of market scams from front running to market timing and soft commissions.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 3:27 am Japan car sales jump on stimulus, Hyundai soarsTOKYO/SEOUL (Reuters) - Japanese auto sales jumped by a quarter in March to cap a business year that relied heavily on government incentives, while South Korea's Hyundai Motor continued to rack up impressive sales growth, sending its shares to a record high.
Source: Reuters: Business News | 1 Apr 2010 | 3:26 am Japan car sales jump on stimulus, Hyundai soars (Reuters)
Source: Yahoo! News: Business News | 1 Apr 2010 | 3:26 am Apple's iPad: The reviews are inSource: Business and financial news - CNNMoney.com | 1 Apr 2010 | 3:23 am Economic Report: U.K. manufacturing survey strongest since 1994Activity in Britain’s manufacturing sector last month accelerated at its fastest pace since October 1994, according to the CIPS/Markit purchasing managers index released Thursday.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 3:23 am Hedge Fund Management Pay Moves Back Above $1 Billion Per ManAccording to the annual pay survey done by AR: Absolute Return+Alpha magazine and reviewed by The New York Times, the top 25 hedge fund managers made $25.3 billion in 2009. David Tepper was at the top of the list with a $4 billion pay day. His main fund was up 130% last year. Hedge fund legend George [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Apr 2010 | 3:19 am Net-a-Porter founder sells stake for £50mThe former fashion journalist who founded the Net-a-Porter website a decade ago is poised to pocket an estimated £50 million after agreeing to sell her stake in the online luxury clothing and accessories retailer to the owner of Cartier watches. Source: Latest Business News from Times Online | 1 Apr 2010 | 3:19 am Strong data help second quarter to positive startGlobal Markets Overview: Stocks and commodities rally after reports show manufacturing in China continues to expand and a survey of Japanese business confidence is less downbeat than forecastSource: Financial Times - US homepage | 1 Apr 2010 | 3:18 am Gartmore shares rebound after maulingShares in fund manager Gartmore jump around 18% Thursday as the stock continues to claw its way back from the mauling it took earlier in the week when it suspended star fund manager Guillaume Rambourg.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 3:10 am Flower power helps Laura Ashley profits growA return to favour of floral patterns and homely traditional decor have led to a jump in sales for Laura Ashley, helping it to grow profits by 7.8 per cent to £11 million. Source: Latest Business News from Times Online | 1 Apr 2010 | 3:07 am Oil rises above $84, extending 2-month rally (AP)
Source: Yahoo! News: Business News | 1 Apr 2010 | 3:06 am Oil rises above $84, extending 2-month rallyOil prices rose above $84 a barrel Thursday in Asia, extending a two-month rally amid surging regional stock markets ahead of the Good Friday holiday. Benchmark crude for May delivery...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 3:06 am Sports firm drops Blacks takeoverPlans by Sports Direct to make a £26m takeover offer for Blacks Leisure are dropped over concerns about suppliers.Source: BBC News | Business | World Edition | 1 Apr 2010 | 3:01 am Japanese start buying affordable electric cars (AP)
Source: Yahoo! News: Business News | 1 Apr 2010 | 2:59 am Japan business confidence rises on global recovery (AP)AP - Japanese companies are regaining lost confidence and feeling less somber, the central bank said Thursday, thanks to an export boom that is lifting the country's corporate gloom.Source: Yahoo! News: Business News | 1 Apr 2010 | 2:54 am Japan business confidence rises on global recoveryJapanese companies are regaining lost confidence and feeling less somber, the central bank said Thursday, thanks to an export boom that is lifting the country's corporate gloom. Growing...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 2:54 am World stocks up after Japan,China economic reportsAsian stock markets rose Thursday as signs of growing strength at powerhouse economies China and Japan brightened the outlook for the world recovery. European shares also gained in early...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 2:53 am London Markets: Miners lead gains for FTSE 100 in new quarterInvestors take heart Thursday from an improvement in British manufacturing data.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 2:53 am Incentivitis Hits The Car IndustryMost economists would reason that as demand for a product rises so should a producer’s opportunity to raise or at least hold price steady. The auto and airline industries have ignored that rule for years and it has contributed to the enormous losses each sector has suffered. Toyota (TM) strongly hinted that it will extend the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Apr 2010 | 2:52 am SSE buys gas interests for £278mScottish and Southern Energy is to buy gas assets from the American firm Hess in a deal worth £278m.Source: BBC News | Business | World Edition | 1 Apr 2010 | 2:49 am Japanese corporate sentiment risesThe latest Tankan survey showed that Japanese companies felt business conditions were improving, the fourth successive quarterly improvementSource: Financial Times - US homepage | 1 Apr 2010 | 2:46 am David Cameron hails 'significant' business backing of Conservative NI planThe 1p in the pound rise on both staff and employers' NI contributions - due to be introduced next April under Labour - could threaten jobs and put the economic recovery at risk, claim top businesspeople.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 2:46 am Stocks poised to open higherU.S. stocks were set to begin the second quarter of 2010 with gains as investors await reports on unemployment claims, manufacturing and auto sales.Source: Business and financial news - CNNMoney.com | 1 Apr 2010 | 2:41 am 6 smart ways to spend your tax refundExpecting a large chunk of change back from the IRS? Think carefully about where you want to spend it.Source: Business and financial news - CNNMoney.com | 1 Apr 2010 | 2:37 am Economic Report: Germany's retail sales drop in FebruarySales extend their downward trend and raise concerns about the pace of growth in Europe’s biggest economy.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 2:33 am Top 200 Company CEOs Made Median $6.95 MillionAccording to the annual Wall Street Journal report on the median compensation of the CEOs at America’s 200 larges companies by revenue, their median comp was $6.95 million in 2009. And, unemployment topped 10% at the end of the year. Say no more. Douglas A. McInyre Filed under: Compensation Tagged: CEO, The Wall Street Journal [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Apr 2010 | 2:32 am Coke, telecom lead investors to post-quake Haiti (AP)AP - As governments pledged billions in reconstruction aid for Haiti at a U.N. donor conference, leaders and businessmen said the key to improving lives in the hemisphere's poorest country was money of another kind: private investment.Source: Yahoo! News: Business News | 1 Apr 2010 | 2:31 am Euro falls to $1.35 in European morning tradeThe euro is lower against the dollar amid lingering worries about Greece's debt problems and rising unemployment in Europe. The 16-nation euro is at $1.35 in European morning trade...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 2:25 am Europe Markets: European shares start second quarter with gainsEuropean shares on Thursday started the second quarter with gains, with miners advancing after an improvement in survey data from Asia.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 2:20 am RIM results lag estimates, shares dropOTTAWA (Reuters) - Research in Motion said quarterly profit and sales rose, but the results lagged expectations and the stock tumbled on rekindled fears that the dominance of its BlackBerry smartphone is waning.
Source: Reuters: Business News | 1 Apr 2010 | 2:18 am PIMCO sees Greece action ineffective; UK downgradeTAIPEI (Reuters) - PIMCO sees Europe's action on Greece as ineffective in fixing the country's problems, while Britain's sovereign debt rating could be downgraded within a year, a top executive of the world's largest bond fund said.
Source: Reuters: Business News | 1 Apr 2010 | 2:17 am Stock futures signal gains; eyes on RIM(Reuters) - Stock index futures pointed to a higher open on Wall Street on Thursday for the first session of the quarter, with futures for the S&P 500 up 0.54 percent, Dow Jones futures up 0.49 percent and Nasdaq 100 futures up 0.52 percent at 3.41 a.m. ET.
Source: Reuters: Business News | 1 Apr 2010 | 2:05 am Stock futures signal gains; eyes on RIM (Reuters)
Source: Yahoo! News: Stock Markets News | 1 Apr 2010 | 2:05 am Media Digest 4/1/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Factories in China and India upped production last month. Reuters: Asian stocks hit and 11 month high. Reuters: General Growth filed a plan to exit bankruptcy. Reuters: Reviews praised the Apple (AAPL) iPad for battery life and ease of use. Reuters: CEO pay moved lower in 2009. Reuters: Publishers are basing their future on an iPad they have not [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Apr 2010 | 2:01 am Resource stocks lead FTSE 100 higherLondon equities were higher in early trade on Thursday, thanks to strong showings across Asian markets, with rising commodity prices helping oil and mining heavyweights. The benchmark FTSE 100...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:58 am Fall in pay freezes, wage growth slowsThe rate of pay growth in Britain slipped in the three months to February but the proportion of companies freezing remuneration fell, a study of pay deals by Incomes Data Services showed on Thursday.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 1:48 am FTSE 100 opens higher before Easter weekend (AFP)
Source: Yahoo! News: Stock Markets News | 1 Apr 2010 | 1:38 am Mobile phone companies forced to cut ratesMobile phone bills in the UK could fall by up to £800 million following a ruling by the telecoms regulator that would cut the cost of connecting from one network to another. Source: Latest Business News from Times Online | 1 Apr 2010 | 1:37 am UK mobile fees set to be cutCallers to UK mobile phones could see cheaper bills from 2011 under plans announced by telecoms regulator Ofcom.Source: BBC News | Business | World Edition | 1 Apr 2010 | 1:31 am Currencies: Dollar rises against major counterparts in AsiaThe dollar rises against its major counterparts in Asian trading Thursday, gaining traction against the yen as repatriation-fund flows ease on the session of Japan’s new fiscal year.
Source: MarketWatch.com - Top Stories | 1 Apr 2010 | 1:18 am Obama to promote health bill's business benefitsPresident Barack Obama is promoting his health care law's benefits for small businesses as he tries to rally public support for the massive overhaul. During a speech Thursday in...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 1:17 am Asian data help second quarter to positive start08:10 BST: Prospects for economic growth dominated investors' thinking on Thursday, as supportive data out of Asia got the second quarter off to a positive start. The FTSE All-World equity index...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:14 am Fuel efficiency rules aimed at advanced vehiclesThe Obama administration is setting tough new gas mileage standards for cars and trucks. Final rules for fuel economy that are set to be signed Thursday are aimed at getting more miles...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 1:12 am Special Report: iPad striptease: It's what's inside that countsSAN FRANCISCO (Reuters) - The iPad will not hit stores until Saturday, but the race to unlock its mysteries started several weeks ago in San Luis Obispo, a picturesque college town roughly...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 1:10 am Special Report: iPad striptease: It's what's inside that countsSAN FRANCISCO (Reuters) - The iPad will not hit stores until Saturday, but the race to unlock its mysteries started several weeks ago in San Luis Obispo, a picturesque college town roughly 200 miles south of Apple's Silicon Valley headquarters.
Source: Reuters: Business News | 1 Apr 2010 | 1:10 am Business Bullet: China, Commodities, BA, MothercareThe latest news on: China, Commodities, BA, MothercareSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 1:09 am UK regulator calls for cut in mobile phone chargeA U.K. regulatory agency on Thursday proposed a steep reduction in connection charges for mobile phone users. The regulator OFCOM proposed to cut the so-called "mobile termination rate"...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 1:07 am Cost of calls to mobile phones to be cutThe price of calling a mobile phone in Britain looks set to fall after Ofcom proposed cutting termination rates further.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 1:05 am Japan economic confidence growsA key survey of Japanese manufacturers shows confidence improving and Toyota reports a big jump in domestic sales.Source: BBC News | Business | World Edition | 1 Apr 2010 | 1:05 am Ports of L.A., Long Beach show hints of revivalThe wide waterways at the ports of Los Angeles and Long Beach remain strangely calm, but a sampling of officials from along the international trade chain said Wednesday that business was stirring to life again.
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am U.S. companies unexpectedly cut 23,000 jobs in MarchThe decline is the smallest in two years and 1,000 fewer than in February, ADP Employer Services says. A gain of 40,000 jobs had been forecast.Private companies in the United States unexpectedly cut payrolls in March, according to new data.
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am Retail landlords see signs of hopeNeighborhood shopping centers are still losing tenants but at the lowest rate in two years. Vacancy is expected to peak in the third quarter and turn positive in 2011. ...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am U.S. companies unexpectedly cut 23,000 jobs in MarchThe decline is the smallest in two years and 1,000 fewer than in February, ADP Employer Services says. A gain of 40,000 jobs had been forecast. ...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am Tribune Co. again delays bankruptcy reorganization planThe media conglomerate seeks another month's extension to negotiate terms with creditors.With the clock ticking down, Tribune Co. bought more time to negotiate with its fractious creditors Wednesday when it filed a motion in Delaware Bankruptcy Court to extend until April 30 its exclusive right to propose a reorganization plan in its 15-month-old Chapter 11 case.
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am ZigBee radio chips could allow remote use of home electronicsThe wireless networking technology, which uses far less power than Bluetooth and Wi- Fi, is likely to show up first in smart meters and the remote controls of high-end TVs. ...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am Disney said to extend deadline for Miramax biddingRemaining bidders include Miramax founders Bob and Harvey Weinstein and investors Alec and Tom Gores.Once again Walt Disney Co. has pushed back the deadline for bidders making offers to acquire the specialty label Miramax Films, to Monday, according to people with knowledge of the situation.
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am Apple's new iPad: Must-have, or meh?Six prominent technophiles tell how they think the tablet computer will fare. Apple Inc. stormed back into consumer...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am Tribune Co. again delays bankruptcy reorganization planThe media conglomerate seeks another month's extension to negotiate terms with creditors. With the clock ticking...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am Univision promotes the census to Latino audiencesCesar Conde, president of Univision Networks, talks about how the Spanish-language media company has been using its airwaves to encourage audiences to participate in the U.S. population tally.Today, April 1, is census day. Once every 10 years, the federal government counts the nation's population to come up with "a portrait of America." The results are crucial to local governments, schools and agencies -- which rely on federal dollars -- and also media companies that target ethnic audiences.
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am Bulls take markets on first-quarter thrill rideMajor stock indexes climb as much as 8.5% for the period despite skeptics' warnings.The stock market posted its fourth straight winning quarter in the three months ended Wednesday, lifting key indexes to their highest levels in nearly 18 months -- and stoking more frustration for sidelined skeptics.
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am Retail landlords see signs of hopeNeighborhood shopping centers are still losing tenants but at the lowest rate in two years. Vacancy is expected to peak in the third quarter and turn positive in 2011.Market conditions are improving slightly for retail landlords, a new report says -- or, more accurately, conditions are worsening at a slower pace.
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am Virtual offices are in real demandUsing shared work spaces -- meeting and conference areas, reception desks and copy rooms -- only when needed is a less-costly alternative to multiyear leases in these tough economic times.In the troubled world of commercial real estate, where available space far exceeds what is needed, landlords have another reason to reach for the antacids:
Source: L.A. Times - Business | 1 Apr 2010 | 1:00 am Disney said to extend deadline for Miramax biddingRemaining bidders include Miramax founders Bob and Harvey Weinstein and investors Alec and Tom Gores. Once again...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am Entrepreneur turned Geek Squad into a geek armyAfter Robert Stephens sold the computer repair company he started in college to Best Buy in 2002, he helped guide its growth from 60 workers to about 24,000 black-and-white-clad 'agents.' ...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am Univision promotes the census to Latino audiencesCesar Conde, president of Univision Networks, talks about how the Spanish-language media company has been using its airwaves to encourage audiences to participate in the U.S. population tally. ...Source: RSS feed - channel BNPaperBusiness | 1 Apr 2010 | 1:00 am General Growth files exit proposal, auction rulesNEW YORK (Reuters) - General Growth Properties Inc filed an eagerly awaited plan to exit bankruptcy on its own and laid out bidding procedures, setting the stage for others like Simon Property Group Inc to jump in with rival offers.
Source: Reuters: Business News | 1 Apr 2010 | 12:46 am General Growth files exit proposal, auction rulesNEW YORK (Reuters) - General Growth Properties Inc filed an eagerly awaited plan to exit bankruptcy on its own and laid out bidding procedures, setting the stage for others like Simon...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 12:46 am Hyundai March sales jump as U.S. sales hit recordSEOUL (Reuters) - March auto sales at Hyundai Motor Co jumped more than a third, thanks to new model launches and strong shipments from plants in China and India, it said on Thursday,...Source: RSS feed - channel BNewsBusiness | 1 Apr 2010 | 12:44 am German retail sales drop more than expected in FebruaryGerman retail sales fell by a bigger-than-expected 0.4pc month-on-month in February, suggesting that private consumption will drag on the export-fuelled recovery of Europe's largest economy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 12:36 am Calling all entrepreneurs. What must we learn from the spirit of the States?Isn't it time the UK started drawing some lessons from our friends in Silicon Valley? asks Kamal AhmedSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Apr 2010 | 12:29 am NZ stocks: Rise before EasterThe New Zealand sharemarket rose slightly during a shortened trading session ahead of the Easter holiday break.The benchmark NZX-50 index closed up 8.238 points, or 0.252 per cent, at 3276.231, which is its highest level in nearly...Source: nzherald.co.nz - Business | 31 Mar 2010 | 11:42 pm CEO median pay edges lower in 2009: report(Reuters) - The median compensation for chief executives of 200 major U.S. companies fell marginally to $6.95 million in 2009, the Wall Street Journal said, citing an analysis by Hay Group management consultancy.
Source: Reuters: Business News | 31 Mar 2010 | 11:42 pm IMF says NZ dollar overvaluedThe New Zealand dollar dropped after the International Monetary Fund (IMF) said it was over valued by between 10 and 25 per cent.The NZ dollar dropped from around US71.13c to US70.62c after the report was released. It recovered...Source: nzherald.co.nz - Business | 31 Mar 2010 | 11:35 pm Citigroup's Primerica IPO raises $320.4 million (AP)
Source: Yahoo! News: Business News | 31 Mar 2010 | 11:14 pm Surveys: China manufacturing accelerated in March (AP)
Source: Yahoo! News: Business News | 31 Mar 2010 | 11:11 pm Investors batten down the hatchesFigures from the IMA show that most investors are investing in cautious funds.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 31 Mar 2010 | 11:06 pm Stockpicker warns of China bubbleSVM's Colin McLean has warned that China could be the next stock market bubble.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 31 Mar 2010 | 11:04 pm 2009 among least costly for insurersIt appears 2009 was a year of great escapes for both New Zealand and the country's insurance industry.A review of New Zealand's major hazards by the Natural Hazards Centre, reports it was one of the least costly years for insurers,...Source: nzherald.co.nz - Business | 31 Mar 2010 | 10:51 pm Hard landingThe BA strike's toxic legacy for staff relationsSource: BBC News | Business | World Edition | 31 Mar 2010 | 10:17 pm What to Do About That Swiss Bank AccountVIDEO: How to treat offshore accounts when filing your tax return.
Source: SmartMoney.com | 31 Mar 2010 | 10:00 pm Cutting New-Car Insurance Costs (Deal of the Day)A new set of wheels can jack up auto insurance rates. Here's how to save.
Source: SmartMoney.com | 31 Mar 2010 | 10:00 pm 3 Stocks Trouncing Profit Forecasts (Screens)Hough: These firms are beating Wall Street's earnings estimates -- by a lot.
Source: SmartMoney.com | 31 Mar 2010 | 10:00 pm Tax Tips: Making the Most of Capital Gains (Tax Tips)Twenty ways to take advantage of these favorable rates.
Source: SmartMoney.com | 31 Mar 2010 | 10:00 pm When Sumner Redstone Met Betty WhiteViacom's strong cash flow and improved balance sheet deserve a new look.
Source: SmartMoney.com | 31 Mar 2010 | 10:00 pm 4 Smart Books: Keep it Organized (SmartBooks)The Money Honey on humility and a former Google exec on the digital age.
Source: SmartMoney.com | 31 Mar 2010 | 10:00 pm Interview With PetSmart CEO Bob MoranPetSmart did well in the recession. Now it hopes to pamper pets even more.
Source: SmartMoney.com | 31 Mar 2010 | 10:00 pm UBS broker chief McCann: no plans for split, name changeNEW YORK (Reuters) -- UBS Wealth Management Americas will not change its name back to PaineWebber, nor will it split off from the embattled Swiss banking giant, the unit's top executive told UBS brokers on Wednesday.
Source: Reuters: Business News | 31 Mar 2010 | 9:12 pm Another finance company collapsesAuckland finance company Vision Securities has gone into receivership, but Treasury says investors will get all of their money back.Vision Securities is a specialist property financier for the retirement village sector and a provider...Source: nzherald.co.nz - Business | 31 Mar 2010 | 8:40 pm As Fed's mortgage purchases end, eyes turn to investorsHope is that private money will again flow into housing market.The government's $1.25-trillion program to prop up the housing market by purchasing mortgages came to an end Wednesday -- in a small, messy room at the Federal Reserve Bank of New York with four desks and a Nerf basketball hoop.
Source: L.A. Times - Business | 31 Mar 2010 | 8:14 pm Apple's new iPad: Must-have, or meh?Six prominent technophiles tell how they think the tablet computer will fare.Apple Inc. stormed back into consumer electronics in 2001 with its iPod music player, then solidified its reputation as the coolest, most forward-thinking tech company with the iPhone in 2007. The landmark devices have generated an estimated $60 billion in sales, and the halo effect helped revive Apple's personal computer business.
Source: L.A. Times - Business | 31 Mar 2010 | 7:39 pm Primerica Comes To America, Above Price and Range (C, PRI)Citigroup Inc. (NYSE: C) or Primerica Inc. (NYSE: PRI)?… The answer is both or either. The financial supermarket is about to have one less aisle. Citi is spinning off the life-insurance and mutual-fund brokerage arm via an initial public offering that raised close to $320 million. The offering will be 21.36 million shares at $15.00 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 31 Mar 2010 | 7:35 pm Property glut creating 'buyers' market'New Zealand's housing market remains in negative territory with an escalation of new listings adding to a glut of homes already on the market.More than 14,000 new listings were added to the New Zealand property market in March,...Source: nzherald.co.nz - Business | 31 Mar 2010 | 7:30 pm Micron swings to profit in second quarter (AP)AP - Micron Technology Inc. reported its second-consecutive quarterly profit, further rebounding after more than three years of losses.Source: Yahoo! News: Business News | 31 Mar 2010 | 7:18 pm Chinese dairy farm application sent back for more infoThe Overseas Investment Office has asked Natural Dairy NZ, the Hong Kong-listed company looking to invest some $1.5 billion of dairy assets including the failed Crafar family assets, for more information about its proposed New Zealand...Source: nzherald.co.nz - Business | 31 Mar 2010 | 7:00 pm Borders Group 4Q profit doubles despite sales drop (AP)AP - Book seller Borders Group Inc.'s fourth-quarter profit rose sharply as it cut costs and enjoyed a tax benefit, even though its sales plunged.Source: Yahoo! News: Business News | 31 Mar 2010 | 6:32 pm Tortoise rally: Stocks have slow but big 1Q gain (AP)
Source: Yahoo! News: Stock Markets News | 31 Mar 2010 | 6:32 pm Tycoons provide ammunition on tax as Tories dig in on economyDavid Cameron last night dug in for a skirmish over the economy, insisting that George Osborne was the “right person to do the job” as Chancellor. Source: Latest Business News from Times Online | 31 Mar 2010 | 6:01 pm Jarvis axes 1,100 jobs after rescue hopes fadeAbout 1,100 Jarvis employees, most of them railway workers, were made redundant yesterday as the administrators to the services group admitted that the chances of finding a buyer for the main railway engineering group were slim. Source: Latest Business News from Times Online | 31 Mar 2010 | 6:01 pm BSkyB told to cut prices for sports channelsBSkyB was ordered yesterday to cut by 23 per cent the price that it charges rivals such as Virgin Media for its premium sports channels. Source: Latest Business News from Times Online | 31 Mar 2010 | 6:01 pm Sports Direct ends its takeover bid for Blacks LeisureSports Direct walked away from its takeover battle with Blacks Leisure yesterday over fears that key suppliers would refuse to trade with it as the new owner. Source: Latest Business News from Times Online | 31 Mar 2010 | 6:01 pm Anglo Irish Bank makes biggest loss in the country’s historyAnglo Irish Bank has laid bare the depths of its problems, announcing a €12.7 billion (£11.4 billion) loss in the 15 months to December 31 — the largest in Irish corporate history. Source: Latest Business News from Times Online | 31 Mar 2010 | 6:01 pm Months of strikes lie ahead, TUC chief warnsBritain faces months of walkouts whatever the result of today’s High Court ruling on a national rail strike, the head of the trade union movement has told The Times. Source: Latest Business News from Times Online | 31 Mar 2010 | 6:01 pm Long says he lost $50,000 in HanoverFormer One News presenter Richard Long regrets his role as the television voice for Hanover Finance - and says he has lost about $50,000 himself.Until now, he says, he has hardly spoken about the aftermath of the Hanover collapse...Source: nzherald.co.nz - Business | 31 Mar 2010 | 6:00 pm Dimon attacks ‘demonisation’ of big banksJamie Dimon attacked the ‘demonisation’ of large banks by politicians, arguing that multinational groups need large financial institutions to thrive in global marketsSource: Financial Times - US homepage | 31 Mar 2010 | 5:52 pm Pentagon set to extend tanker contract deadlineThe US Department of Defence gave EADS, the European conglomerate, a chance to overcome Boeing in a contest for a $50bn air tanker contract by announcing a probable two-month extension to the tenderSource: Financial Times - US homepage | 31 Mar 2010 | 5:25 pm Census 2010: 5 winners (and losers)The Census Bureau is conducting the nation's decennial head count, which influences how much federal money states and cities receive. Who will come out on top?Source: Business and financial news - CNNMoney.com | 31 Mar 2010 | 5:20 pm Importer blames iPad delay on huge US demandApple's delay in providing New Zealanders with a release date for the iPad could be the result of huge pre-sales of the tablet computer in the markets earmarked for its initial release, says a local importer and distributor.The...Source: nzherald.co.nz - Business | 31 Mar 2010 | 5:15 pm Lockheed, Boeing, others see health reform chargesLOS ANGELES (Reuters) - Lockheed Martin Corp , Boeing Co , Goodrich Corp and Ingersoll-Rand Plc on Wednesday joined a growing list of companies that plan to book charges related to U.S. healthcare reform.
Source: Reuters: Business News | 31 Mar 2010 | 5:13 pm Kleiner earmarks $100m for iPad appsThe imminent launch of Apple’s iPad continued to reverberate across Silicon Valley as Kleiner Perkins, one of the Valley’s most prominent start-up investors, earmarked $100m for new software applications for the iPad and similar devicesSource: Financial Times - US homepage | 31 Mar 2010 | 5:04 pm RIM profit climbs but misses expectationsResearch in Motion posted a fiscal fourth-quarter profit and revenue that missed Wall Street expectations, but the BlackBerry maker's forecast for the current quarter easily topped analysts' estimates.Source: Business and financial news - CNNMoney.com | 31 Mar 2010 | 4:53 pm Million-dollar homes and gardens: 7 fantasiesSource: Business and financial news - CNNMoney.com | 31 Mar 2010 | 4:42 pm Moomin profitsWhy Finland's exports are not just phones and woodSource: BBC News | Business | World Edition | 31 Mar 2010 | 4:30 pm US offers to extend jet deadlineThe Pentagon says it will extend the bidding deadline for a new fleet of US air refuelling tankers, if EADS makes a formal request.Source: BBC News | Business | World Edition | 31 Mar 2010 | 4:14 pm Markets and the Economy, Earnings, Technology: Taking StockSource: Bloomberg - All Podcasts | 31 Mar 2010 | 4:03 pm Write-Offs: 03.31.10$$$ Swiss Move Closer to Releasing UBS Names [NYT] $$$ Former BofA CEO Lewis Not Looking to Settle Civil Charges [FBN] $$$ Dylan Ratigan Looking To Sell [Daily Intel] $$$ Merrill Ends Deutsche Bank Suit Alleging Heaton Hired in Raid of Bankers [Bloomberg] 
Source: Dealbreaker | 31 Mar 2010 | 4:00 pm Finance firm decisions close, says SFOSerious Fraud Office chief Adam Feeley has a much clearer position on its finance company investigations but charges may still be weeks away.Feeley, who took over the top job in November, told the Herald at the end of January...Source: nzherald.co.nz - Business | 31 Mar 2010 | 4:00 pm Retirement Comes Early For Seniors Hopped Up On PoligripFrom 24/7 Wall St. affiliate Heathcare Outsider The New York Times reports that last month, GlaxoSmithKline (the pharmaceutical company that can do nothing right) recalled a popular dental adhesive called Super Poligrip from the market because it contained high levels of Zinc, and some people who used the cream had shown some adverse symptoms associated with [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 31 Mar 2010 | 3:52 pm Citadel To Acquire Soleil Securities?Allegedly, there’s a possibility. From the mailbag:
Source: Dealbreaker | 31 Mar 2010 | 3:45 pm Pat Pilcher: NZahead report is right - we could do betterUs Kiwis could be doing a whole lot better according to the New Zealand Institute, which scored New Zealand a disappointing 'C' in its annual " NZahead " report. While this "could doSource: nzherald.co.nz - Business | 31 Mar 2010 | 3:30 pm Citi Statements Re: Zen Gardens, Private Jets To Get A Whole Lot More Colorful
Update: I forgot to add, the whiny, pitiable flack (lots of overlap with the idiot flack here).
Source: Dealbreaker | 31 Mar 2010 | 3:30 pm TSX ends flat, but up on month and quarter (Reuters)Reuters - The TSX ended little changed on Wednesday, as weak banking shares offset stronger resource issues, limiting its gains for the month and latest quarter.Source: Yahoo! News: Stock Markets News | 31 Mar 2010 | 3:17 pm Winners And Losers In The Airline WorldBob Herbst of Airlinefinancials.com exclusive special to 24/7 Wall St. Winners are: #1. American (AMR) and #2. JetBlue (JBLU) Losers are: Delta (DAL) and US Airways (LCC) with notable mention to Continental (CAL) In the last year, Delta made a big move capturing more of the NY market when they worked out the deal to take most of US Airways landing/take [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 31 Mar 2010 | 3:11 pm State Street to Start 12 New ETFs: AudioSource: Bloomberg - All Podcasts | 31 Mar 2010 | 3:09 pm Calmly into a crucial contestAs he prepares to lead Britain’s Tories into their most winnable general election for nearly two decades, David Cameron says he represents needed changeSource: Financial Times - US homepage | 31 Mar 2010 | 3:06 pm Ford, Rite Aid, SAIC, Boeing are big movers (AP)AP - Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 31 Mar 2010 | 2:55 pm Tussle over health care law's corporate impactA growing number of major U.S. corporations are expecting to take tax charges in the first quarter related to the recently enacted health care reform law.Source: Business and financial news - CNNMoney.com | 31 Mar 2010 | 2:49 pm How the major stock indexes fared on Wednesday (AP)AP - Stocks fell on the final day of the first quarter after a payroll company's report gave investors a surprising reminder that the job market remains weak. Despite a moderate drop Wednesday, the Dow Jones industrial average logged its best first quarter since 1999 and the Standard & Poor's 500 index posted its strongest first-quarter advance since 1998.Source: Yahoo! News: Stock Markets News | 31 Mar 2010 | 2:46 pm Credit Suisse bosses to share SFr3bn bonusesThe bank’s top 400 executives will share a jackpot of more than SFr3bn when a special bonus scheme that reached maturity pays out next monthSource: Financial Times - US homepage | 31 Mar 2010 | 2:37 pm Beijing agrees to talks on Iran sanctionsChina has agreed to begin discussing specific sanctions against Iran, offering the first sign that Beijing may be willing to back a new round of United Nations measures, diplomats from other countries saidSource: Financial Times - US homepage | 31 Mar 2010 | 2:02 pm Robert Benmosche Has His Reasons For Not Working Out Of AIG’s Corporate Headquarters
You don’t like that? He’s got a teabag with your name on it.
Source: Dealbreaker | 31 Mar 2010 | 1:45 pm Telemarketer Gives Up His Picasso In $18.8 Million SettlementBy Jacob Goldstein Telemarketers will pay a huge settlement for pocketing a fat slice of donations that people thought were going directly to support cops, firemen and veterans, the FTC said today. As part of the deal, one of the guys who ran the telemarketing outfit will turn over: a $2 million home; paintings by Picasso and Van Gogh valued collectively at $1.4 million; a guitar collection valued at $800,000; $270,000 in proceeds from a recently sold wine collection; jewelry valued at $117,000; three Mercedes, a Bentley, and various other assets. In all, the settlement totals $18.8 million, to be paid by two companies and the two men who ran them, the FTC said. They had run-ins with the feds going back more than a decade. A 1998 suit accused one of the companies of "falsely claiming that ... donations would be used locally to buy bullet-proof vests and provide death benefits for deceased officers' surviving family members." In 2007, the Department of Justice said the telemarketers continued to tell people that "100 percent" of their donations would go to benefit the charities. In fact, the telemarketing company passed on 10 percent to 15 percent of the donations to charity and kept the rest for itself, the FTC said. The owners couldn't be reached for comment, the AP reported this afternoon. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Mar 2010 | 1:00 pm Presented By:Source: Dealbreaker | 31 Mar 2010 | 12:45 pm Dubai Fund-of-Funds Now Open To New Investors– Sinners, Short-Seller Sympathizers Not WelcomeIf you haven’t already invested your $1,000 with Bernett Diversified Global Fund and are looking to get in the game, take two to consider Dubai Shariah Asset Management’s Kauthar Commodity Fund, which is opening its doors for the first time since launching last year. Here are the relevant deets: * The fund posted a 41% return for ‘09 * Up more than 1% through March 28 * Minimum investment: $5 million * Prime broker: Barclays Capital * DO NOT WANT:
Source: Dealbreaker | 31 Mar 2010 | 12:45 pm Chutney, curry, samosas... mozzarella?Americans have grown used to all sorts of things coming from India -- from computer support to software. But now, India could arrive on your kitchen table. And not in the form of curry. Elliot Hannon explains.Source: Marketplace | 31 Mar 2010 | 12:45 pm Don't subject payday lenders to reformCongress is mulling new regulations that will limit big banks, mortgage lenders and consumer loan companies like payday lenders. Commentator and payday lender Darrin Andersen says that's a bad idea.Source: Marketplace | 31 Mar 2010 | 12:45 pm Making use out of an old Chrysler plantDozens of old car plants have been shuttered over the last two years, and some of the unused factory equipment gets salvaged or sold off. Buildings are usually demolished, but one factory in Delaware is being re-imagined. Alisa Roth reports.Source: Marketplace | 31 Mar 2010 | 12:44 pm Will plan work to rebuild Haiti?Professor Robert Fatton talks with Kai Ryssdal about what strikes him in the Haiti reconstruction action plan and whether it will work.Source: Marketplace | 31 Mar 2010 | 12:44 pm What's driving L.A. film boom?Last year, L.A. saw the biggest drop in filming on record. But according to industry group numbers, filming is up on the L.A. streets. Stacey Vanek-Smith reports it's because of what's happening behind the scenes.Source: Marketplace | 31 Mar 2010 | 12:44 pm Impact of new U.S. offshore drillingPresident Obama lifted a longstanding moratorium on oil drilling in parts of the U.S. Sarah Gardner reports the move didn't sit well with opponents of offshore drilling or even some oil-friendly Republicans.Source: Marketplace | 31 Mar 2010 | 12:44 pm Firms incur big charges for health lawBoeing has announced a $150 million charge to its earnings because of the new health care law. It's the latest in a string of big companies to make similar announcements. Nancy Marshall Gezner reports.Source: Marketplace | 31 Mar 2010 | 12:43 pm Iron ore price deal sparks steel furyEuropean steel and auto industries accuse mining companies of unfair pricing practices following the introduction of a new system for valuing iron ore that will see the cost of the resource nearly doubleSource: Financial Times - US homepage | 31 Mar 2010 | 12:35 pm Citi Only Stock Getting Swapped For Dinner, Apps At Smith & WollenskyTwo months ago, in light of the possibility that the majority of your bonuses would be paid out in stock this year, Smith & Wollensky took out the following ad in the New York Times. As stated, the restaurant is accepting stock from all of Wall Street’s finest institutions, but so far the only certificates used to redeem meat have come from Citi. Everyone else is apparently either too embarrassed to take part, having retained a shred of pride, or they’re using their shares at Flashdancers, which is running a similar program
Source: Dealbreaker | 31 Mar 2010 | 12:20 pm SEC Examining Use of Derivatives by Funds (U.S. News & World Report)U.S. News & World Report - Last week, the U.S. Securities and Exchange Commission announced that it will begin evaluating the use of derivatives by mutual funds and exchange-traded funds. A derivative is essentially a security whose price is derived from one or more underlying assets, and the term is used to describe a range of activities including futures trading and default swaps. The SEC says that until the investigation has concluded, it will defer any new requests for ETFs that would make substantial investments in derivatives. ...Source: Yahoo! News: Stock Markets News | 31 Mar 2010 | 12:10 pm SEC eyes new rules for asset-backed securities (Reuters)Reuters - U.S. securities regulators will meet April 7 to consider new disclosures for asset-backed securities such as those linked to mortgages, the Securities and Exchange Commission said on its web site.Source: Yahoo! News: Stock Markets News | 31 Mar 2010 | 11:39 am Fox Developing Movie Based On E*Trade BabyPlease let what has the potential to be the worst film of the year have a part for Linday “Whore Baby” Lohan, involving her substance (milk) abuse problem.
Source: Dealbreaker | 31 Mar 2010 | 11:15 am Is Insider Trading Sometimes OK?By Jacob Goldstein The SEC says a hedge fund trader made more than $1 million based on a tip a bond salesman shared with him. The bond salesman called it a "nice little kiss," this morning's WSJ reports. The SEC has filed a lawsuit alleging insider trading, but the men are arguing, in part, that the whole thing is none of the SEC's business. The trader's profit came from buying and selling credit-default swaps -- a financial instrument that acts like an insurance policy, and pays off if a borrower defaults on a loan. Those swaps played a key role in the financial crisis, but they remain largely unregulated. Swaps are traded in private deals; there are no public exchanges like there are for stocks. And in the case brought by the SEC, the the trader and the salesman argue that because swaps are private contracts, they are outside the purview of the SEC, the WSJ says. That raises broader questions about whether federal regulators can go after insider-trading cases involving credit-default swaps. The men accused in this case also say they have done nothing wrong, and that the kind of information shared in this instance is shared all the time. The issue of whether the SEC can go after insider trading in credit-default swaps has been around for years, Felix Salmon noted this morning. He pointed to this Bloomberg story from way back in 2006 that showed how the market for credit-default swaps moved before big public announcements -- a pattern that suggested insider trading. "In a market that is completely opaque, all sorts of abuses are made easier,'' the former director of trading at the Commodity Futures Trading Commission told Bloomberg at the time. "The temptation to make money, in a way that would be unacceptable in a regular market, is just too great." The finance-reform bill working its way through Congress may bring more regulation to credit-default swaps. But just what that will look like remains unclear. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Mar 2010 | 10:46 am South American Beauty Queens Demonstrating Remarkable Business Acumen, Nose For Drug Trade Sanclemente Valencia Have you been looking to jump ship but not yet found a shop well-suited to your needs and interests? Have you considered becoming a “model-mule”? It’s a booming field and you should get in when there are still openings available.
Jeaneth Sanclemente Valencia, a “dethroned Colombian beauty queen and lingerie model” who “leads a band of beautiful women who transport cocaine from Buenos Aires into several European countries” runs a great enterprise but is currently attempting to keep a very low profile. Still, if you’re really interested, there are other ways to get a foot in the door, like networking events.
Beauty queens play rising role in international cocaine world [Sun Sentinel]
Source: Dealbreaker | 31 Mar 2010 | 10:45 am Gulf stocks make modest gains in first quarter (AFP)
Source: Yahoo! News: Stock Markets News | 31 Mar 2010 | 10:30 am How Do You See Your Colleagues?Who’s top dog in your office kingdom? If you’re convinced that the office would devolve into mayhem without your team’s contributions, you’re not alone–in thinking you’re the most important, that is. Most of us have the tendency to see our own contributions in a rosy light. Those colleagues on other teams tend to be, well, different. See where you figure into this grid. (If you’re on a team not mentioned here, comment on how you might see yourself and be seen by others!) Click to Enlarge
Source: Business Pundit | 31 Mar 2010 | 9:51 am Lynn Tilton Wears F*ck Me Boots In Order To “Garner The Respect I Deserve” Sock it to me. Your respect, that is. Distressed debt investor Lynn Tilton recently participated in a podcast for NPR. Early in the interview she was asked “What are you wearing?” to which the Patriarch Partners founder responded, “A Cavalli top, a Versace belt, a Gucci skirt and Prada boots– 4 inches. I need to look sufficiently fierce to make sure I garner the respect I deserve,” she explained. Sure, makes sense, and is in fact the tactic used by many of Wall Streets most esteemed investors, though they all like to put their own spin on it (Carl Icahn wears a cat o’ nine tails as a belt, while Julian Robertson used to take all meetings wearing a full Dominatrix Nurse Costume). Later on, when discussing a tassel company she owns, she said her inspiration for a line of “Tassel Me” belts came from “fond memories of what I had once done with tassels.” Some of you may know what she’s talking about! For those not lucky enough to be a Christmas card-receiving client of Lynn’s when she was a salesgirl at AMROC, circa 1989, let’s get you up to speed.
Podcast: A Private-Equity Boss In Four-Inch Stilettos [NPR via BI] Earlier: Those Were The Days
Source: Dealbreaker | 31 Mar 2010 | 9:45 am Digital River Raised to `Outperform' at FBR Capital: AudioSource: Bloomberg - All Podcasts | 31 Mar 2010 | 9:32 am Berlin and Paris eye levy to fund bail-outsThe two countries call for an international bank levy as the German finance minister outlines plans to force his country’s banks to pay €1.2bn into an insurance fundSource: Financial Times - US homepage | 31 Mar 2010 | 9:09 am Verizon iPhone Threat Makes AT&T Scramble
AT&T, worried about losing its exclusivity with the iPhone later this year, is scrambling to upgrade and improve its much-lamented network. The company plans to double its network capacity this year, which comes at a price tag of about $2 billion. The Wall Street Journal has more: In mid-December, AT&T executives set up a 100-day plan to dramatically improve the company’s network in densely-populated cities, according to people familiar with the plan. Since then, AT&T has added new network spectrum to better handle traffic, repositioned antennas to improve reception in office towers and wired more neighborhood cell towers with faster connections. But even with its recent efforts, the network still has not met customers’ quality standards everywhere. While some third-party tests have given AT&T nods for having a faster network, a poll last month by J.D. Power & Associates found AT&T still ranks poorly against Verizon Wireless in call quality. AT&T defended its wireless efforts, and said this year it expects to spend $2 billion more on build-outs for its wireless network and add twice as much capacity as it did in 2009. A spokesman declined to provide details on its spending last year. It argues that its growing pains with the iPhone position it to provide better service than any rivals picking up the smart phone for the first time. This certainly substantiates rumors of a Verizon iPhone later this year, doesn’t it? (That rumor, of course, was initially broken by the Wall Street Journal.)
Source: Business Pundit | 31 Mar 2010 | 9:06 am Sorry, Kids: No More Cash For Going To School.By Jacob Goldstein A pilot project that paid poor kids for regular attendance at school, and paid their parents for things like going to the dentist, showed middling results. Mike Bloomberg said three years ago that the program, which was launched in New York with private money, could be turned into a permanent, publicly funded program. But the private program ends in August, and city officials said yesterday that there are no plans to go forward with a public program, the New York Times reports. The program did seem to help in some ways. It reduced "some housing and hunger hardships," according to a report that came out yesterday. But it did not improve achievement for students in elementary or middle school. It did appear to help one subset of students -- high-school kids who were unusually well prepared when they started high school. Payments ranged from two- to three-figures. Kids got $25 to $50 a month for regular school attendance, for example. This type of program, known as a conditional cash transfer, has been used widely in the developing world. It's as straightforward an economic incentive as you can think of: Do this thing, and you'll get money. Perhaps the most famous example is Oportunidades, a program in Mexico that pays parents to keep their children in school and take them for regular medical checkups. But, as the mixed results of the New York program show, even an incentive as clear as a cash payment can be hard to put into practice in a way that drives results in the real world. "You always hope that you'll come across a magic silver bullet, and you never do," Bloomberg said yesterday, according to the NYT. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 31 Mar 2010 | 9:04 am Round 1, Fight! Amazon.com Versus State TaxesSince the recession began, politicians of both parties have spoken about the importance of economic growth. President Obama’s stimulus bill, for example, was said to be conducive to job creation and business expansion. But while nationwide unemployment is more than 10%, some states are adding insult to injury with their own policies. The battle Amazon.com is currently facing against 16 different states is a case in point. In each of those states, lawmakers are attempting to single out Amazon resellers for a new tax above and beyond their existing income taxes. The goal, states say, is raising more government revenue at a time when it is scarce. But economists (and Amazon itself) say that the states are cutting off their nose to spite their face. Instead of increasing government revenue, as governments hope, the proposed new tax is proving to be economically destructive wherever it is imposed. Business Pundit explores the issue in greater detail below.
Amazon Associates & Taxes
Most people know about Amazon, what they do and why they’re so successful. Fewer people, though, are aware of something called the Amazon Associates program. The Amazon Associates program falls into a broader category of business called affiliate marketing, which is when individuals sell the products of other companies for a commission. Tens of thousands of people in America (and even more worldwide) make their full or part-time living from affiliate marketing and Amazon proudly states that its Amazon Associates platform is “the web’s most popular and successful affiliate program.” What it has done is create a global army of resellers who earn up to 15% in referral commissions for selling Amazon’s products on their own websites, through e-mail or innumerable other methods. Besides providing incomes for many thousands of people, those same people, in turn, pay taxes on their earnings from participating in the Amazon Associates program. And Amazon benefits by paying its resellers only for pure performance (that is, when they successfully sell Amazon products.) In other words, the current arrangement is profitable for Amazon, its resellers and all the governments who tax their activities. Everyone is better off. The Problem
It should be made clear before going further that the income-generating parties here are not the state and federal governments. The income-generating parties are Amazon and its resellers. Without them, there would be no profits for either state or federal governments to tax away. Unfortunately, as is typical politician behavior, state governments are killing the proverbial goose that lays the golden egg. As WalletPop reported on March 18 2010, sixteen states are trying to force Amazon to collect sales taxes in every state where its affiliates operate. Here is the “problem”, from a state government’s point of view. Amazon itself already collects sales taxes on when it sells to customers in states where Amazon has a presence: Kentucky, North Dakota, Washington and New York. But people in any state can resell products via the Amazon Associates program. Therefore, some states are arguing, why shouldn’t sales tax be collected when an Amazon affiliate in, say, Connecticut sells Amazon products? If implemented, this would result in Amazon affiliates being taxed twice on their affiliate profits – once in the form of personal income taxes (which they already pay) and again in the form of sales taxes. The latter has been termed the “Amazon tax” by economists, journalists and Amazon itself. The States Involved
As MSN revealed, sixteen states had already enacted or contemplated enacting some form of the “Amazon tax” as of March 16, 2010. Those states are: California, Colorado, Connecticut, Hawaii, Illinois, Iowa, Maryland, Minnesota, Mississippi, New Mexico, North Carolina, Rhode Island, Tennessee, Vermont, Virginia and Wisconsin. MSN’s Kay Bell elaborates that lawmakers in these states “contend this affiliate arrangement is enough of a nexus, that is, an actual state presence” to justify the collection of sales taxes from Amazon affiliates. Connecticut, in particular, has drawn the ire of Amazon with its attempt at singling out Amazon resellers for sales taxes. In a published complaint to Connecticut’s General Assembly, for example, Amazon VP of Global Public Policy Paul Misener emphatically stated the law was “unconstitutional and would produce little or no revenue for Connecticut.” Consequences to Amazon & Resellers
Later in the same complaint, Misener made clear why the Amazon tax will produce little revenue for Connecticut or the other sixteen states. Very simply, Misene writes, “Amazon and presumably dozens of other out-of-state retailers would simply sever affiliate advertising relationships with Connecticut residents” if these taxes stand. Meanwhile, citizens of other states without such taxes could still freely participate in Amazon Associates and other affiliate programs. It all comes down to incentives and opportunity cost. Harvard MBA John T. Reed wrote an article on singling out activities for unique or higher taxes, and touches upon Amazon’s situation specifically: “Those affiliates—local persons who were helping Amazon sell books and stuff and who were getting paid by Amazon for doing so were all put out of the Amazon business. Those people had been paying state income tax on their Amazon earnings. Now their Amazon earnings are zero, lowering the amount of state tax they pay. And the sales tax paid by Amazon did not go up from zero. It is still zero. All the politicians in those states accomplished was knocking a bunch of their own small businesspeople out of business. Way to go geniuses!” In other words, as Misener promised, Amazon has already begun terminating affiliate relationships in states that are trying to impose this tax or have already imposed it. Keeping affiliate relationships in those states would require Amazon to know the state and city tax rates for every single city in which it had affiliates. Furthermore, because “states have not found a way to get residents to voluntarily pay sales tax on Internet sales, or for sellers to voluntarily collect it”, WalletPop explains, these sixteen states expect Amazon to do it for them. But unlike politicians, who frequently pass the costs of their decisions on to others, Amazon must confront the opportunity cost of such an arrangement. And besides staying abreast of all the tax rates in cities and towns nationwide, Amazon would also be obligated to do all of the bookwork involved in cutting checks that reflect the sales taxes being collected. In short, the various “Amazon taxes” proposed by these sixteen states are making it less advantageous to be an affiliate (or run an affiliate program at all, in Amazon’s case.) As Reed concludes: When you tax something, you get less of it. Sure enough, the Tax Foundation reveals that “the nation’s first few Amazon taxes have not produced any revenue at all, and there is some evidence of lost revenue.” Contrary to the original situation, everyone involved – Amazon, its affiliates and the state governments involved – are now rapidly becoming worse off. The Future
Frightening as the “Amazon tax” is for Amazon and its affiliates, it also signals what could become a dark trend for affiliate marketing as a whole. In principle, there is no difference between the arrangement between Amazon and its affiliates and, say, the relationship Commission Junction or PepperJam has with theirs. If these sixteen states are successful at upholding Amazon-esque taxes (and driving affiliates out of business), that outcome could become the norm for affiliate marketing in general, in all states. That would be especially unfortunate while we are in the teeth of a recession. Citing the most recent data available, Wikipedia states that “affiliates worldwide earned US$6.5 billion in bounty and commissions from a variety of sources in retail, personal finance, gaming and gambling, travel, telecom, education, publishing, and forms of lead generation” in 2006. The imposition of taxes that make it less worthwhile to be an affiliate or run affiliate programs threaten to shrink the United States portion of those revenues, potentially to zero.
Source: Business Pundit | 31 Mar 2010 | 8:55 am Luigi Zingales: Surveillance with Prewitt and KeeneSource: Bloomberg - All Podcasts | 31 Mar 2010 | 8:37 am Leo Tilman: Surveillance with Prewitt and KeeneSource: Bloomberg - All Podcasts | 31 Mar 2010 | 8:36 am Arthur Levitt: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 31 Mar 2010 | 8:35 am Johnson, Kwak: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 31 Mar 2010 | 8:34 am The Early Estimate: More Job Losses In MarchBy Jacob Goldstein Private employers kept cutting jobs in March, according to a report out this morning from ADP. But the net loss of jobs -- 23,000 -- was the lowest it's been since employment started falling in March 2008. The number of service jobs grew, but not enough to make up for job losses in construction and manufacturing. Economists had predicted that the ADP numbers would show a gain of 40,000 jobs, Bloomberg reports. The monthly ADP numbers don't get as much attention as the monthly Bureau of Labor Statistics jobs numbers, which are due out on Friday. But there are a few reasons to think the ADP numbers for March may provide a clearer picture of the long-term employment situation. For one thing, the BLS jobs figures were driven lower in February because of that month's big snowstorms. The lack of massive snowstorms in March will drive a short-term bounce in the jobs numbers that isn't significant in the long-term picture. (Because of issues related to timing and methodology, the snowstorms didn't have much of an effect on the ADP numbers in February.) And temporary hiring for the census will also give a boost to the BLS jobs numbers for March. Census workers aren't reflected in the ADP figures, which only include private employers. Still, the BLS figures are a key point of reference for figuring out what's happening with the labor market. So everybody (including me) will try to look at Friday's numbers and sort the signal from the noise. By the way, the BLS is hosting a chat Friday morning to discuss its numbers. You can submit questions in advance. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Mar 2010 | 8:15 am EMI Faces Bank Seizure
Music company EMI is $6 billion in debt. It doesn’t look like owner Guy Hands (who bought EMI through his Terra Firma equity group) will be able to satisfy Citibank, EMI’s main creditor, in time to prevent the bank from seizing it in June. The BBC has more: The deadline day is 14 June. Terra Firma needs to come up with about £120m by then in order to abide by banking covenants. If Mr Hands fails to come up with the cash, Citigroup will be entitled to take over EMI and put it up for sale, probably to rival Warner Music. In desperation, Mr Hands has been floating all manner of possible solutions. Ideas such as splitting EMI into two and even selling off assets such as the world-renowned Abbey Road studios have been mooted. But his best hope was to lease the North American rights to EMI’s back catalogue to another of the Big Four major labels, with Sony Music and Universal both named as potential partners. As music industry sources said, it was not so much selling off the crown jewels as taking them to the pawnbroker’s for a while. But that hope has now collapsed. The price was a major sticking point, while executives at both firms were apparently interested in licensing EMI’s tracks for a far longer period than the five years envisaged by Mr Hands. The only remaining chance to placate Citigroup before mid-June is for Terra Firma to raise the cash from investors. Guy Hands, who now lives in the British Channel Islands to avoid taxes, claims Citibank is partly to blame for the high price he paid for EMI. He says the bank failed to inform him that a rival bidder had pulled out, according to the BBC. He and Citigroup will argue the matter in a US court in October. Meanwhile, other companies are suing EMI over issues like rights to ringtones, writes the BBC. Hands’ EMI has demise written all over it. It’s a lesson not only in the risk of investing in a struggling industry, but in what happens when you pay too much for something, implement the wrong strategy, then run out of options to save yourself. Read the whole BBC article here.
Source: Business Pundit | 31 Mar 2010 | 8:06 am Investec's Papasavvas on Dollar, Carnell on Bonds: First WordSource: Bloomberg - All Podcasts | 31 Mar 2010 | 8:03 am One Picture, Several Interpretations
Source: Business Pundit | 31 Mar 2010 | 5:21 am
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