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UK construction shows first growth since 2008Construction activity grew in March for the first time in more than two years on the back of a resurgence in housebuilding, according to figures published today. Source: Latest Business News from Times Online | 6 Apr 2010 | 4:59 am High earners hit as 50p tax rate goes aheadPeople earning more than £150,000 a year will see a reduction in their take-home pay from today as the new 50p rate of income tax comes into force at the start of the financial year. Source: Latest Business News from Times Online | 6 Apr 2010 | 4:53 am Renault set for new tie-up with Daimler (AFP)
Source: Yahoo! News: Business News | 6 Apr 2010 | 4:09 am Change at the top for Northgate van hireThe chief executive of Northgate is to step down after 23 years at the van hire company in a departure which has been delayed since last summer. Source: Latest Business News from Times Online | 6 Apr 2010 | 4:07 am Indications: U.S. stock futures edge backU.S. stock futures edge lower Tuesday as traders take some gains off the table after markets marched to multi-month highs in the prior session.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 4:06 am It’s Down 12,000 That MattersIf and when the DJIA hits 11,000 it won’t matter much beyond being a round number. The Dow fell below 12,000 in June 2008 and below 10,000 in October of that same year. 11,000 was not around for long. The real stability in the Dow and the period when individual and institutional investors made fortunes was between October [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Apr 2010 | 4:03 am Europe Markets: European shares at new highs after U.S. jobs dataEuropean shares move higher on Tuesday, as investors back from the Easter weekend take their first chance to react to signs the U.S. economy could be on track for a sustainable recovery.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 4:03 am 25 dead in W.Va. mine blast, worst since 1984 (AP)
Source: Yahoo! News: Business News | 6 Apr 2010 | 4:00 am UK lawmakers attack Kraft as irresponsible (AP)AP - A cross-party committee of British lawmakers is due to publish a strongly critical report on Kraft Inc. Tuesday, accusing the U.S. company of acting "irresponsibly and unwisely" during its 11.5 billion pound ($17.5 billion) takeover of Cadbury.Source: Yahoo! News: Business News | 6 Apr 2010 | 3:56 am US jobs data lift European stocks on Easter return (AP)
Source: Yahoo! News: Business News | 6 Apr 2010 | 3:49 am US jobs data lift European stocks on Easter return (AP)
Source: Yahoo! News: Stock Markets News | 6 Apr 2010 | 3:49 am Profit-taking sends dollar lowerThe dollar tracked back slightly from nine-month highs Tuesday as profit-takers moved in to take advantage of recent rallies while strong economic sentiment kept most stocks higher. ...Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 3:45 am Greece wants to bypass IMF: reportGreece was back in the spotlight Tuesday amid a report that the country wants to amend a standby aid plan to avoid the imposition of onerous fiscal measures by the International Monetary Fund.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 3:42 am Peabody sweetens Macarthur Coal bid; Noble hoversMELBOURNE/PERTH (Reuters) - Top U.S. coal miner Peabody Energy raised its offer for Australia's Macarthur Coal to $3.27 billion, but the new offer was below Macarthur's market price, suggesting the bidding could go higher.
Source: Reuters: Business News | 6 Apr 2010 | 3:34 am Asian shares mixed; resource shares lift SydneyAsian markets finish on a mixed note Tuesday as Australia’s benchmark stock index taps an 18-month high as resource shares strengthen.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 3:34 am Moody's downgrades Iceland outlook (AP)AP - Moody's Investor Service has downgraded Iceland's debt ratings outlook to negative from stable over concerns about the tiny island nation's external liquidity.Source: Yahoo! News: Business News | 6 Apr 2010 | 3:33 am Moody's downgrades Iceland outlookMoody's Investor Service has downgraded Iceland's debt ratings outlook to negative from stable over concerns about the tiny island nation's external liquidity. In an update Tuesday, the...Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 3:33 am Wilbur Ross backs Virgin's RBS branch bidU.S. billionaire investor Wilbur Ross will buy a stake in Richard Branson's Virgin Money, backing the British entrepreneur's bid to buy hundreds of branches of the government-owned Royal...Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 3:29 am Growth hopes boost stocks and commodities10:15 BST: Hopes that global economic growth is becoming more entrenched pushed benchmark commodities to multi-month highs and provided support for stocks on Tuesday. Not even further signs of...Source: RSS feed - channel BNPaperBusiness | 6 Apr 2010 | 3:28 am Growth hopes boost stocks and commoditiesGlobal Markets Overview: FTSE All-World index holds at its best level since the collapse of Lehman as US data add to the belief that recovery in the world’s biggest economy is gaining strengthSource: Financial Times - US homepage | 6 Apr 2010 | 3:28 am Annie Leibovitz sued by US firmA US financial firm has sued celebrity photographer Annie Leibovitz over a recent financing deal.Source: BBC News | Business | World Edition | 6 Apr 2010 | 3:27 am Greece faces rising urgency as IMF advisors arriveThe Greek-EU debt crisis is taking a new twist with the expected arrival here on Wednesday of experts from the International Monetary Fund amid uncertainty over the status of a vague EU-IMFSource: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 3:26 am Greece faces rising urgency as IMF advisors arrive (AFP)
Source: Yahoo! News: Business News | 6 Apr 2010 | 3:26 am Data On US Apartment Vacancies “Less Bad”In keeping with the tradition of reporting data that is “less bad” than it was a year ago instead of “much worse”, real estate research firm Reis said that US apartment vacancies stopped rising. They were 8% in the first quarter of 2010. That was the same as in the last quarter of 2009. Both numbers [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Apr 2010 | 3:23 am France's Total faces corruption investigationA Paris judge has filed preliminary bribery charges against French oil giant Total SA in a corruption case linked to its role in the scandal-ridden U.N. oil-for-food program in Iraq. ...Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 3:18 am Greek worries return to hit euro; world shares flatLONDON (Reuters) - The euro fell against both the dollar and yen on Tuesday on renewed worries about Greek debt while world shares were flat with Europe higher.
Source: Reuters: Business News | 6 Apr 2010 | 3:15 am Spanish jobless claims rise further: governmentThe number of registered unemployed in Spain rose for the eighth month running in March to reach 4.16 million, the government said on Tuesday, as the country remained mired in recession.Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 3:15 am IMF officials due in Athens to review reformsGreek Finance Ministry officials say two delegations from the International Monetary Fund are due in Athens Wednesday to inspect the progress of austerity cuts and an overhaul of the tax...Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 3:13 am IMF officials due in Athens to review reforms (AP)
Source: Yahoo! News: Business News | 6 Apr 2010 | 3:13 am Fastweb surges as outside administration ruled outShares of the Italian broadband company rise as much as 7% as the firm narrowly avoids being put under court-appointed administration by appointing Swisscom boss Carsten Schloter temporary CEO.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 3:13 am Stocks may slip at openU.S. stock futures edged lower Tuesday, as investors mulled the previous session's rally, which pushed the Dow just shy of 11,000.Source: Business and financial news - CNNMoney.com | 6 Apr 2010 | 3:09 am China Construction Bank to raise $11 bln: reportChina Construction Bank Corp. plans to raise about 75 billion yuan ($11 billion) by listing new shares in Shanghai and Hong Kong this year, according to a published report Tuesday.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 3:09 am British election to be fought on fiscal groundsThe question of who can better manage Britain’s finances as the nation limps out of the deepest recession in decades is expected to take center stage when Prime Minister Gordon Brown announces later Tuesday that a general election will take place on May 6.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 3:05 am Apple’s Market Cap May Pass Microsoft’s SoonMost market experts would not have expected Apple’s (AAPL) market value to have passed Walmart’s (WMT) or GE’s (GE). But, it has even though the maker of the iPad and iPod had revenue of only $36 billion in its last fiscal year while Walmart’s was $408 billion and GE’s $157 billion. Apple’s market value has reached $218 billion and is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Apr 2010 | 3:01 am Virgin Money sells 21% stake to US billionaireVirgin Money is bringing in American money to bolster its bid to buy up to 318 branches from Royal Bank of Scotland. Source: Latest Business News from Times Online | 6 Apr 2010 | 2:56 am London stocks supported by US gainsStrong US data and some lively performances over the Easter weekend from Asian and US stocks were expected to keep the London equity market supported for most of Tuesday's session. Closed on Good...Source: RSS feed - channel BNPaperBusiness | 6 Apr 2010 | 2:56 am European stocks advance after holiday breakEuropean stock markets rose on Tuesday as investors played catch-up after the Easter holiday weekend, digested solid US economic data and awaited official declaration of a May election in...Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 2:52 am European stocks advance after holiday break (AFP)
Source: Yahoo! News: Stock Markets News | 6 Apr 2010 | 2:52 am Ross and Virgin Money in RBS bidWilbur Ross, the US billionaire, pledges £500m to help Virgin Money bid for hundreds of Royal Bank of Scotland branches.Source: BBC News | Business | World Edition | 6 Apr 2010 | 2:52 am London Markets: U.K. shares up, election date reportedly to be setBritish shares climb on Tuesday, as investors return from the four-day Easter break to be greeted with reports that a general election will be held early next month.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 2:48 am Renault board meets on Daimler alliance: ministerFrench carmaker Renault convened a meeting of its board of directors on Tuesday to discuss an alliance with Germany's Daimler, French Industry Minister Christian Estrosi said.Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 2:47 am W.Va. gov. wants miracle to find missing minersGov. Joe Manchin says he is hoping for a miracle that four missing West Virginia coal miners will be found alive after a blast killed 25 people. Manchin's comments came early Tuesday...Source: RSS feed - channel BNewsBusiness | 6 Apr 2010 | 2:44 am New 50% tax rate comes into forceThe 50% tax rate for people earning £150,000 or more comes into force with the start of the new financial year.Source: BBC News | Business | World Edition | 6 Apr 2010 | 2:37 am China soya ban angers ArgentinaArgentina complains to the China about a planned boycott of its soya oil exports amid a growing trade dispute.Source: BBC News | Business | World Edition | 6 Apr 2010 | 2:28 am Stock futures signal dip in early trade(Reuters) - U.S. stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.29 percent, Dow Jones futures down 0.16 percent and Nasdaq 100 futures down 0.16 percent at 3:30 a.m. EDT.
Source: Reuters: Business News | 6 Apr 2010 | 2:27 am Stock futures signal dip in early trade (Reuters)
Source: Yahoo! News: Stock Markets News | 6 Apr 2010 | 2:27 am Geithner boosts India trade tiesUS Treasury Secretary Timothy Geithner will push India to open its markets in his first visit to India since assuming office.Source: BBC News | Business | World Edition | 6 Apr 2010 | 2:23 am Bonds in the 'danger zone'Even bond managers are questioning the wisdom of buying bonds now.Source: Business and financial news - CNNMoney.com | 6 Apr 2010 | 2:22 am Greek worries return to hit euro; world shares flat (Reuters)
Source: Yahoo! News: Stock Markets News | 6 Apr 2010 | 2:21 am U.S. to Toyota: $16.4 million fineThe Department of Transportation's National Highway Traffic Safety Administration is seeking the maximum fine of $16.4 million against Toyota Motor Corp. for failing to notify the agency of a "sticky pedal" defect in its cars for at least four months.Source: Business and financial news - CNNMoney.com | 6 Apr 2010 | 2:21 am Explosion at Massey mine kills 25An explosion at a West Virginia mine operated by Massey Energy kills 25 miners and rescuers are still searching for four others.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 2:20 am Dialing back the risk in retirementA basic tenet of retirement investing states that as you get closer to calling it a career, you should grow more conservative -- tilting away from volatile assets like stocks and toward more stable investments like bonds and cash.Source: Business and financial news - CNNMoney.com | 6 Apr 2010 | 2:11 am What you can learn from your tax returnWhether you eagerly completed your taxes in late January or will just slip in under the April 15 deadline, savor the relief you feel once your return is finally in Uncle Sam's hands.Source: Business and financial news - CNNMoney.com | 6 Apr 2010 | 2:07 am High earners hit as 50p tax rate goes aheadPeople earning more than £150,000 a year will see a reduction in their take-home pay from today as the new 50p rate of income tax comes into force at the start of the financial year. Source: Latest Business News from Times Online | 6 Apr 2010 | 2:05 am Samsung set to top record Q1 as recovery buildsSEOUL (Reuters) - Samsung Electronics Co Ltd should beat its record first-quarter profit in the coming two periods as the world's largest semiconductor and flat-screen TV maker rides a broad global technology recovery.
Source: Reuters: Business News | 6 Apr 2010 | 2:03 am Oil prices: rally unlikely to be sustained, analysts sayCrude oil prices, which have hit a 17-month high of $86 a barrel, are unlikely to sustain their increases over the course of this week, according to a survey by Bloomberg.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Apr 2010 | 1:58 am Novolipetsk Steel makes Q4 net profit (AP)AP - Russian steelmaker Novolipetsk Steel said Tuesday it made a net profit of $294 million in the fourth quarter, compared with a loss a year earlier, on the back of strong metals prices.Source: Yahoo! News: Business News | 6 Apr 2010 | 1:56 am Media Digest (4/6/2010) Reuters, WSJ, NYTimes, FT, BloombergReuters: Oil dropped as the dollar strengthened. Reuters: Samsung posted record profits. Reuters: Greece wants to amend its aid deal with Europe and not use IMF. Reuters: The US Transportation Department will try to fine Toyota (TM) $16.4 million. WSJ: Apartment rents rose in the first quarter. WSJ: Some Wall St. executives below the CEO level had record pay in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Apr 2010 | 1:44 am SKorean warship catches up with hijacked tanker (AP)
Source: Yahoo! News: Business News | 6 Apr 2010 | 1:42 am Business owners work to repair damage from quake (AP)
Source: Yahoo! News: Business News | 6 Apr 2010 | 1:36 am Australia raises its interest rate to 4.25%The Reserve Bank of Australia has raised interest rates by 25 basis points, the fifth increase since October, taking borrowing costs to 4.25 per cent. Source: Latest Business News from Times Online | 6 Apr 2010 | 1:35 am Russia in $5bn Chavez arms dealsRussia could sell $5bn worth of weapons to Venezuela, PM Vladimir Putin says after a visit to Caracas last week.Source: BBC News | Business | World Edition | 6 Apr 2010 | 1:11 am U.S. seeks to hit Toyota with top fine for delays in disclosing problemsTransportation Department looks to levy the maximum civil fine of $16.4 million against Toyota for delays in notifying authorities about defects in its gas pedals.Signaling that the federal government is getting tougher on auto safety enforcement, the Transportation Department said it would seek the maximum civil fine of $16.4 million against Toyota Motor Corp. for delays in notifying authorities about defects in its gas pedals.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am IPad's first-day sales top 300,000, Apple saysThe tablet computer's debut Saturday topped that of the original iPhone in 2007. The company also reports that 1 million apps and 250,000 e-books were downloaded.For Apple Inc. and its iPad, the easy part is over.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Stocks rise after stronger jobs, services reportsNEW YORK -- Stronger reports on jobs and services industries lifted the stock market Monday and pushed the Dow Jones industrial average toward the 11,000 mark.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Apple sells 300,000 iPads on its first dayThe tablet computer's debut Saturday topped that of the original iPhone in 2007. The company also reports that 1 million apps had been downloaded. ...Source: RSS feed - channel BNPaperBusiness | 6 Apr 2010 | 1:00 am Sales contracts for previously owned homes rise 8.2% in FebruaryThe increase in the National Assn. of Realtors' pending home sales index is a sign that the government's extended tax credit for buyers may bolster sales this spring.The number of previously owned homes placed under sales contract surged 8.2% in February, according to data released Monday, the first sign that the government's extended tax credit for buyers may bolster sales this spring.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Haim Saban joins Lions Gate's Asia pay-TV venture Tiger GateThe media tycoon's firm, Saban Capital, will initially match Lions Gate's investment to date of several million dollars, with more funding for the venture expected in the future.Lions Gate Entertainment Corp. has clinched a deal with media tycoon Haim Saban's private investment firm, Saban Capital Group, to become a partner in Tiger Gate, the company's recently launched pay-TV venture in Asia.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Ousted TCW exec launches first mutual fundsJeffrey Gundlach, who was fired as chief investment officer of the L.A. firm, hopes to lure some investors whose money he once managed to his new company, DoubleLine Capital.Four months after his ugly split with TCW Group Inc., star L.A. bond fund manager Jeffrey Gundlach on Tuesday will launch his first mutual funds, hoping to lure some of the individual investors whose billions of dollars he managed at TCW.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Milo's CEO is a second-generation Web entrepreneurJack Abraham is following in the footsteps of his father, who founded ComScore.Some familiar names were scribbled in the corner of a white board: Amazon. Google. Craigslist. EBay. PayPal. Above them was an unfamiliar one: Milo.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Looking for a job? Check out these sitesDepending on the site, you can seek work by location, type or employerAlthough the economy has shown signs of recovery, the job market remains tight. But job opportunities are out there; you just need to know where to find them.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Service industries in U.S. grow at fastest pace since May 2006Service industries expanded in March more than anticipated and at the fastest pace since May 2006, a sign of a broadening U.S. recovery that's starting to create jobs.Source: RSS feed - channel BNPaperBusiness | 6 Apr 2010 | 1:00 am Lions Gate stars in its own corporate dramaThe studio behind 'Precious' and 'Mad Men' is spending millions to fight a hostile takeover by Carl Icahn, who accuses management of following a flawed strategy and letting the stock languish.Lions Gate Entertainment carved out a niche in Hollywood as a maverick that went up against the big studios. Now its own independence is at stake.
Source: L.A. Times - Business | 6 Apr 2010 | 1:00 am Farming fameHow one man went to hoe, laughing all the waySource: BBC News | Business | World Edition | 6 Apr 2010 | 12:48 am SeaFrance strike enters fifth dayA strike by French ferry workers which has disrupted cross-Channel services continues into its fifth day.Source: BBC News | Business | World Edition | 6 Apr 2010 | 12:43 am Australian rates raised to 4.25%Australia's central bank raises interest rates to 4.25% from 4% as it attempts to cool inflation and slow rises in house prices.Source: BBC News | Business | World Edition | 6 Apr 2010 | 12:39 am Peabody raises bid for MacarthurUS coal group raises its cash offer for Macarthur Coal to A$3.6bn in a fresh attempt to derail an alternative deal that the Australian group has struck with Noble Group, the Hong Kong-based commodity supplierSource: Financial Times - US homepage | 6 Apr 2010 | 12:22 am Toyota to recall 13,000 vehicles in South KoreaThe head of Toyota’s South Korean unit apologizes to its customer base for 'inconvenience' after the government orders a recall of vehicles for potential defects that could trap the gas pedal under the floor mat.
Source: MarketWatch.com - Top Stories | 6 Apr 2010 | 12:18 am Telecom rally lifts market to three-month highThe New Zealand sharemarket closed strongly today, with significant rises among top stocks after solid economic data out today and gains on global markets.The benchmark NZX-50 index ended up 32.68 points, or 1 per cent, at a three-month...Source: nzherald.co.nz - Business | 6 Apr 2010 | 12:09 am Australia raises interest rates to 4.25pcAustralia's central bank raised its key cash rate by 25 basis points to 4.25pc on Tuesday and flagged further increases ahead as the economy returns to strong growth.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Apr 2010 | 12:05 am Australia raises interest rate to 4.25%Australia's central bank underlined its determination to reduce monetary stimulus on Tuesday when it lifted its benchmark interest rate from 4 to 4.25 per cent, its fifth such rise since October. ...Source: RSS feed - channel BNPaperBusiness | 6 Apr 2010 | 12:04 am The City's insider traders have a new enemy used to fighting Britain's drug smugglersWhen the Serious Organised Crime Agency (SOCA) was set up four years ago this month, few City bankers would have thought an organisation founded as Britain's answer to the FBI would ever coming knocking on their doors.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 11:54 pm Power station's 1,000 jobs hopeA new power station could create up to 1,000 construction jobs in south west Wales, say the company behind the plans.Source: BBC News | Business | World Edition | 5 Apr 2010 | 11:46 pm NZ dollar sinks against AussieThe New Zealand dollar continued to decline against the Australian dollar to its lowest point in nearly a decade after the Reserve Bank of Australia raised interest rates by 25 points today, as expected by many economists.The...Source: nzherald.co.nz - Business | 5 Apr 2010 | 11:43 pm Administrators seize £850,000 of art from property adviser Pierre RolinAdministrators have seized £850,000 of valuable art from the home of a London property adviser, Pierre Rolin, amid claims that his collapsed firm managing $6.5bn (£4.25bn) of assets for a key Middle Eastern client had been making "unauthorised payments".Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 11:41 pm The Guardian newspaper to 'outsource' up to 55 staff to cut costsThe Guardian is in talks to "outsource" up to 55 of its staff as part of the loss-making newspaper's bid to cut costs.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 11:38 pm Government must tackle £167bn deficit as a priority, say businessesThe next Government must make tackling Britain's £167bn deficit its urgent priority, a new poll of businesses has found, as Gordon Brown is today poised to call the election.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 11:35 pm Questor's six share tips for 2010: how they've performed so farIt has been a mixed, but generally positive, start to the year for UK equities as the global economy fights its way back from the brink.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 11:20 pm UK house prices face prolonged bear marketThe housing market may now be trapped in a long-term bear market, a leading economic consultancy has warned.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 11:13 pm Greece eyes U.S. investors for new bond: reportSINGAPORE (Reuters) - Greece will launch a multi-billion dollar bond in the United States this month, selling itself for the first time as an emerging market as demand for its debt dwindles in Europe, the Financial Times reported.
Source: Reuters: Business News | 5 Apr 2010 | 11:06 pm 3 Stocks With (Believable) 5% Yields (Screens)These firms offer big dividends and seem unlikely to cut them.
Source: SmartMoney.com | 5 Apr 2010 | 10:00 pm Eco-Friendly Product? Ask the Green WatchdogsCertifiers guide consumers through the fast-growing green marketplace.
Source: SmartMoney.com | 5 Apr 2010 | 10:00 pm Eco-Watchdogs: Grading the Green SquadJust how easy is it to get a green merit badge these days? Find out.
Source: SmartMoney.com | 5 Apr 2010 | 10:00 pm Bill Nygren Thinks Stocks Are Still CheapThe well-respected value investor likes Liberty Media and H&R Block.
Source: SmartMoney.com | 5 Apr 2010 | 10:00 pm How Taxes Can Affect Your Options StrategyVIDEO: When cashing out, there is more to consider than maturity.
Source: SmartMoney.com | 5 Apr 2010 | 10:00 pm PVC pipe maker JM Eagle extends warranty amid lawsuitThe company is fighting a whistle-blower claim that it sold defective pipe to government utilities across the U.S. It says it will back its products for 50 years, retroactively.JM Eagle, fighting a whistle-blower's claim that it delivered defective PVC pipes to government utilities across the nation, said Monday that it would extend one-year warranties on its products to 50 years, retroactively.
Source: L.A. Times - Business | 5 Apr 2010 | 9:29 pm Business confidence soars in latest surveyA key measure of business sentiment surged in March, but economic recovery is moving at a slower pace.The New Zealand Institute of Economic Research's (NZIER) Quarterly Survey of Business Opinion recorded a net 36 per cent of...Source: nzherald.co.nz - Business | 5 Apr 2010 | 9:00 pm Blaming the victims - full turn on the leaky homes crisisRecent opinion pieces in the Herald have once again highlighted the Leaky Homes crisis but this time there seems to be a move to blamSource: nzherald.co.nz - Business | 5 Apr 2010 | 8:30 pm Kate Ross - First quarter over and I'm optimisticThis time last year I was trying to steady the ship, scramble for work and keep moving forward knowing it was probably going to be a very hard year in every respect - and it was. What a difference twelve months makes. As we have...Source: nzherald.co.nz - Business | 5 Apr 2010 | 8:00 pm More good US economic news could help spur hiringWASHINGTON - US employers holding out for more evidence that the economic recovery is finally taking hold got some yesterday: America's service sector is growing quickly, and contracts for home sales are up.The big question is...Source: nzherald.co.nz - Business | 5 Apr 2010 | 7:30 pm South Canterbury Finance accepted into new Govt guarantee schemeSouth Canterbury Finance is looking to offer longer term and new deposit products, following the company's approval for the Crown's extended retail deposit guarantee scheme.The scheme will provide eligible investors a Crown guarantee...Source: nzherald.co.nz - Business | 5 Apr 2010 | 7:29 pm Changing tastes put squeeze on ethnic restaurantsEthnic restaurants in Auckland are being forced to think beyond sweet and sour pork, fried won tons and sushi - and those which do not keep up with the times are facing the curtain.Auckland's oldest Chinese restaurant, the New...Source: nzherald.co.nz - Business | 5 Apr 2010 | 7:00 pm Signs of strengthening US recovery lift moodFresh signs that the US recovery is gathering pace bolstered Wall Street stocks and commodity prices on Monday, while Treasury bond yields reached 18-month highs as investors considered the implications...Source: RSS feed - channel BNPaperBusiness | 5 Apr 2010 | 6:42 pm US Government set to fine Toyota $16m for hiding pedal defect$The US Government is seeking a record fine of $16 million ($£10.5 million) against Toyota, the troubled Japanese carmaker, for deliberately hiding a defect linked to a string of accidents involving runaway cars. Source: Latest Business News from Times Online | 5 Apr 2010 | 6:25 pm U.S. seeks to fine Toyota $16.4 millionWASHINGTON/DETROIT (Reuters) - Toyota Motor Corp faces a proposed $16.4 million fine from U.S. regulators who said the automaker knowingly delayed a massive recall for defective accelerator pedals.
Source: Reuters: Business News | 5 Apr 2010 | 6:21 pm The Election for ChangeFor some time now — perhaps for more than a year — this Parliament has been finished, without having stopped. Today we expect Gordon Brown to ask the Queen, at last, to grant a dissolution, so that an election can take place on May 6. One of the most painful periods in the long history of the House of Commons will be at an end. Source: Latest Business News from Times Online | 5 Apr 2010 | 6:01 pm Insider trading trial could give new powers to Securities and Exchange CommissionAn insider trading trial could dramatically expand the powers of America's securities regulator to monitor the derivatives blamed for exacerbating the financial crisis. Source: Latest Business News from Times Online | 5 Apr 2010 | 6:01 pm 13 years on, new Labour has come full circleBy a curious quirk of fate, the Conservatives will hold their press conferences between now and the general election in precisely the same Millbank Tower room that Labour used in 1997. Instead of red roses on the walls there will be blue sky covering the backdrop. But as he hits the campaign trail today, David Cameron’s message will be the same as Tony Blair’s: Vote for Change. Source: Latest Business News from Times Online | 5 Apr 2010 | 6:01 pm US regulators to seek $16.4m Toyota fineHighway safety agency seeking maximum penalty from car maker for not reporting defects in its cars that caused them to accelerate out of controlSource: Financial Times - US homepage | 5 Apr 2010 | 5:17 pm The code - rules to swear by for advisersA financial adviser surprised me once by asking if journalists had a code of ethics. This was a flagrant attempt on her part to turn the conversation away from talk of the impending code of conduct about to be imposed on the financial...Source: nzherald.co.nz - Business | 5 Apr 2010 | 5:00 pm NY state masks deficit by "shuffling" moneyNEW YORK (Reuters) - For over a decade, New York state has papered over budget deficits and over-spending by "shuffling" money among accounts, siphoning cash from dedicated funds and "abusing" temporary loans, according to a report released on Monday.
Source: Reuters: Business News | 5 Apr 2010 | 4:54 pm Apple's iPad debuts strongly, but key tests remainSAN FRANCISCO (Reuters) - Apple Inc sold more than 300,000 iPads on the tablet computer's first day in stores, a strong showing that roughly matched Wall Street forecasts and mirrored the iPhone's debut in 2007.
Source: Reuters: Business News | 5 Apr 2010 | 4:50 pm iPad sales fall shy of upbeat expectationsApple sold about 300,000 units of the tablet computing device on its first day on the market, falling short of the most bullish projections and charting a course for a more modest initial adoption trendSource: Financial Times - US homepage | 5 Apr 2010 | 4:50 pm Obama seeks market-based yuan; Congress impatientWASHINGTON/BEIJING (Reuters) - The United States on Monday reiterated its call for China's currency to be market-based, as lawmakers warned they would act if there was no movement from China on revaluing the yuan.
Source: Reuters: Business News | 5 Apr 2010 | 4:47 pm Sharemarket buoyed by business optimismThe New Zealand sharemarket opened strongly today, buoyed by gains on Wall Street and increased business optimism at home.The New Zealand Institute of Economic Research's Quarterly Survey of Business Opinion released this morning...Source: nzherald.co.nz - Business | 5 Apr 2010 | 4:32 pm Toyota faces $16.3m fine for delaying recall of 'dangerous' carsUS government finds that car maker knew of life-threatening safety problems with accelerator pedals four months before it recalled them.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 4:22 pm Services sector grows at fastest clip since '06NEW YORK (Reuters) - The services sector grew at its fastest pace in nearly four years in March and future home sales unexpectedly rose in February bolstering hopes for sustainable economic recovery and job growth.
Source: Reuters: Business News | 5 Apr 2010 | 4:12 pm Presented By:Source: Dealbreaker | 5 Apr 2010 | 4:00 pm Write-Offs: 04.05.10$$$ Lehman Castoffs Sleep on Sidewalk, Seek Redemption From Trump [Bloomberg] $$$ Wall Street Traders Enjoy Huge Payday [WSJ] $$$ Tiger Finally Lifts Burden [CNBC] $$$ The Half-Hooker Economy [NYM] 
Source: Dealbreaker | 5 Apr 2010 | 4:00 pm Stock Rally, Hedging, China, Apple, Treasuries: Taking StockSource: Bloomberg - All Podcasts | 5 Apr 2010 | 3:56 pm S&P warns on European CLOsEuropean structured loan investments are still dependent on the health of a narrow group of companies, leaving a wide range of funds at risk should just a handful default. A study to be released...Source: RSS feed - channel BNPaperBusiness | 5 Apr 2010 | 3:55 pm How the major stock indexes fared on Monday (AP)AP - Stronger reports on jobs and the nation's services industries lifted stocks Monday and pushed the Dow Jones industrial average toward the 11,000 mark. Growing confidence about the economy hurt demand for Treasurys and drove up interest rates. The yield on the 10-year Treasury note briefly rose to 4 percent, its highest level since June.Source: Yahoo! News: Stock Markets News | 5 Apr 2010 | 3:53 pm Dubai wealth fund buy-out head switches to CarlyleThe US-based private equity group has poached Eric Kump, head of DIC’s European private equity team, leaving the sovereign wealth fund with a troubled portfolio and lacking funds for new dealsSource: Financial Times - US homepage | 5 Apr 2010 | 3:51 pm Stronger jobs, services reports send stocks higher (AP)
Source: Yahoo! News: Stock Markets News | 5 Apr 2010 | 3:49 pm Apple: 300,000 iPads sold on day oneApple said Monday it sold 300,000 iPads in the United States on the first day the highly anticipated tablet device was available in stores.Source: Business and financial news - CNNMoney.com | 5 Apr 2010 | 3:42 pm When Hospital Nurses Go On Strike, The Death Rate IncreasesBy Jacob Goldstein Hospital death rates increase by about one fifth when nurses go on strike, according to a working paper the NBER published today. Another way of parsing the numbers: There is one additional death for every 286 patients admitted to the hospital during a strike. Sure, it's a somewhat intuitive finding. But it's still interesting to see the numbers and get a sense of the magnitude. "Lots of people know that strikes are bad, but I don't know that anybody's put a number on the human suffering that occurs as a result," Jonathan Gruber, one of the authors of the paper, told me when I called him this afternoon. Gruber's an MIT economist who has worked with the Obama administration. I asked him about the policy implications of his paper, but he didn't want to make too much of the findings. "What economics is very good at is precise answers to small questions," he said. The finding is based on data from New York state between 1983 and 2004. It includes 50 strikes at 43 hospitals. Gruber and his co-author, Samuel Kleiner, looked at the rate of in-hospital mortality within 10 days of admission. They also considered the possibility that patients who were admitted to the hospital during a nurses' strike would be sicker, on average, than patients who were admitted when there wasn't a strike. But they found that the mix of patients didn't change significantly during strikes. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Apr 2010 | 3:32 pm US stocks rise on jobs dataUS stocks kicked off the week on a positive note as investors breathed a sigh of relief following last Friday's well-received March employment data with sentiment further bolstered by the successful launch...Source: RSS feed - channel BNPaperBusiness | 5 Apr 2010 | 3:27 pm Argentine rift with China over soya imports growsArgentina on Monday summoned the Chinese ambassador to express concern over Beijing's threat to halt imports of soya oil, expected to be worth $2bn this year, from the South American country. China...Source: RSS feed - channel BNPaperBusiness | 5 Apr 2010 | 3:25 pm IMF targets banks with 'excess profits tax'Fund to suggest tax as one of the best ways governments can raise significant amounts from banks without drastically distorting the financial system.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Apr 2010 | 3:24 pm TSX ends higher on oil boost, U.S. recovery hope (Reuters)Reuters - The TSX rose to an 18-month high on Monday before paring gains, as rising oil prices and firm U.S. economic data bolstered hopes for a sustained recovery.Source: Yahoo! News: Stock Markets News | 5 Apr 2010 | 3:17 pm Greece to target US investors with bondGreece will this month launch a multibillion-dollar bond in the US in its hunt for new investors, selling itself for the first time as an emerging market country as demand for its debt dwindles in EuropeSource: Financial Times - US homepage | 5 Apr 2010 | 3:02 pm Economist's cry: Break up the banks!Simon Johnson would seem to be an unlikely candidate to be throwing stones at the global financial system.Source: Business and financial news - CNNMoney.com | 5 Apr 2010 | 2:39 pm Walgreen, Washington Post, Apple are big movers (AP)AP - Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 5 Apr 2010 | 2:28 pm DOT Wants Toyota To Pay Maximum FineThe Department of Transportation wants to make Toyota (TM) pay the maximum civil penalty– $16.375 million– for “failing to notify the auto safety agency of the dangerous ’sticky pedal’ defect for at least four months, despite knowing of the potential risk to consumers.” The penalty being sought against Toyota would be the largest civil penalty ever assessed against [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Apr 2010 | 2:20 pm More Reasons to Hate Countrywide, Angelo Mozilo
MGIC’s investigation of Countrywide’s dirty lending practices, which is attached to a court motion, contains some classic tales of the shenanigans that led to the housing bust. There’s the part-time housekeeper in Chicago who got a $339,000 Countrywide mortgage after a friend who owned an auto-body shop helped her craft a document stating she was an employee who made $6,833 a month. (She really made about $300 a week.) Not only did the housekeeper never show up at the closing because she had returned to Poland, but the new house was really for her sister and brother-in-law, according to the MGIC complaint. There’s also a California man who earned $1,100 a month as a milker for the Jose Silveria Dairy, but was still able to get a $350,000 mortgage from Countrywide after stating on his application that he made $10,500 per month as a “dairy foreman.” Not surprisingly, he defaulted on the loan. Another California man, who got a $205,000 mortgage from Countrywide by lying about his job and inflating his income, had actually purchased the house for the Countrywide loan officer, who planned to rent it out, the MGIC snoops found. The list goes on and on and includes tales of people saying they worked for fake companies, fraudulent tax returns, and references to personal bank accounts that never existed. (Read the full complaint below) The investigations can be found in MGIC’s complaint to the American Arbitration Association. Interestingly, the application states that Countrywide’s mortgages have defaulted at three times the rate of other lenders that MGIC insured.
Source: Dealbreaker | 5 Apr 2010 | 2:06 pm Battlelines blurred in dispute over renminbiThere are ambiguities between different parts of government and within business communities in both the US and China over aims and tacticsSource: Financial Times - US homepage | 5 Apr 2010 | 2:06 pm Battlelines blurred in dispute over renminbiFrom the outside, the battlelines in the renminbi wars look quite simple: the US on one side, threatening the heavy ordnance of currency legislation unless the exchange rate is liberalised; China on the...Source: RSS feed - channel BNPaperBusiness | 5 Apr 2010 | 2:06 pm Your Reaction to the Economy Could Make You SickLiving in the US economy right now is not exactly a rosy proposition. Between bankers throwing your money into sketchy investments, corporations outsourcing your job to cheaper workers, and a government more interested in increasing its own power than your well-being, you have good reasons to be worried. When stress starts to run your life, however, it can be dangerous. Research shows that if you don’t express anger and fear, it can make you sick. I recently read a fascinating slide show by LiveScience on seven thoughts that are bad for you. The article highlights thought patterns that actually end up damaging your body. I adapted some of what LiveScience had to say to reactions about the economy. Many of the thought patterns below are pretty normal during short-term crises. If you consider any of them to be part of your life, however, think hard about doing something about them–before they do something to you. Hostility
Hostile thoughts include If you blame any single person or entity for your current conditions, your are being hostile. You don’t trust that entity, you’re suspicious of it, and, although you aren’t having a temper tantrum about it every day, you’re still stressing yourself out. Lack of purpose
Thoughts include If you find these kinds of thoughts popping up a lot, you’re either depressed or just don’t feel a sense of purpose in your life. What it does What to do about it Constant anxiety
Thoughts include Anxiety and worry are natural reactions to major life events, such as the loss of a job, relationship stress, or a major change in income. After a while, however, a healthy person learns to adjust to that event–or the event changes–and the anxiety cools off. If you find yourself anxious and worried regardless of what’s going on in your life, be aware that you’re hurting yourself. What it does to you Despair
Thoughts include If you consider this kind of thinking part of your personality, but never tell anyone about it, you may be what psychologists call a Type D, a kind of repressed worrywart. What it does What to do about it Chronic stress
Thoughts include Feeling this stressed for an hour, a day, or even a week is pretty normal. If this kind of stress defines your working life for months, you need to do something about it. What it does to you What to do about it
Source: Business Pundit | 5 Apr 2010 | 1:55 pm Lawsuit: Citi Employees Suck At Sexual HarassmentLast week we discussed the matter of Citi employee Dorly Hazan Amir, an associate in Citigroup’s asset finance division who is suing the bank on the grounds that she was mommy-tracked. DHA claimed that “supervisors have discriminated against her because of here gender since the beginning of her tenure” and that when she became pregnant, “the attitude of her bosses reportedly worsened,” with one manager asking H-A if she planned to be a “career mom” or a “mom mom.” DHA also said that her pregnancy “became the butt of jokes in the office as my male co-workers discussed setting up a pool to discuss how much weight I would gain as a result of my pregnancy.” While not taking sides, we noted the time that this was pretty inventive, especially considering the idea came from the Big C Brain Trust and not Goldman, which should’ve come up with it first for their resident mom. Now more of DHA’s allegations have come out and all we have to say is this: CAN’T YOU PEOPLE DO ANYTHING RIGHT??? The answer is apparently no.
Really, director in her group? I’m so embarrassed for you right now. But more to the point:
WHAT DOES THAT EVEN MEAN? Are you saying that it takes three men to do one woman’s job? That it takes three male Citi employees to supervise this one lady? WHAT IS IT GIRL? Either way you suck at this. You suck so hard it hurts. Citigroup Bankers Accused Of Sex And Pregnancy Jokes [Telegraph via BI]
Source: Dealbreaker | 5 Apr 2010 | 1:45 pm Building a better fishRichard Brauman always loved caviar. But for many years the former Federal Reserve employee found that, no matter how much he was willing to pay for quality, the goods often had a stale, fishy taste. He blamed it on the traditional practices of companies in caviar-producing countries like Russia and Iran, where fish eggs are harvested infrequently and may be heavily preserved with salt and borax.Source: Business and financial news - CNNMoney.com | 5 Apr 2010 | 1:44 pm Co-location ban won't solve anything: SEC official (Reuters)Reuters - Banning traders from placing their servers close to an exchange's trading system would not solve anything, a top securities regulator said on Monday.Source: Yahoo! News: Stock Markets News | 5 Apr 2010 | 1:10 pm 10 highest paid CEOsThese 10 corporate chiefs took home the most pay in 2009. Some of their companies, like Larry Ellison's Oracle were profitable, others...not so much.Source: Business and financial news - CNNMoney.com | 5 Apr 2010 | 1:04 pm Gasparino: SEC May Be Forced To Do Something About This Whole Lehman ThingIt’s not that they want to, as it would go against everything the Commission stands for (incompetence, letting frauds run rampant), not to mention seriously cut in on everyone’s porn surfing time. It’s just that, (no) thanks to the infernal examiner’s report, they might have, or risk looking worse than they already do.**
SEC Probe Of Lehman Picking Up Steam [Fox Business] **Which would be quite the accomplishment and one also being considered worth going after.
Source: Dealbreaker | 5 Apr 2010 | 1:00 pm American and JetBlue Play “Let’s Make A Deal”The deal between American Airlines and JetBlue brings both of them unexpected financial advantages that help shareholder value[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Apr 2010 | 12:56 pm Can Google win with the iPad?No matter what sleek device Apple designs, it's Google that will win the data war.Source: Business and financial news - CNNMoney.com | 5 Apr 2010 | 12:45 pm Union of faith, fitness raises tensionMany churches teach that the body is a temple for the spirit, so faith-based fitness programs have exploded over the last two decades. But not without some financial controversy. Tanya Ott reports.Source: Marketplace | 5 Apr 2010 | 12:42 pm A plan to get you excited about taxesDuke University Professor Dan Ariely talks with Kai Ryssdal about how voting on where your taxes will be distributed can help spur civic engagement.Source: Marketplace | 5 Apr 2010 | 12:42 pm Breakfast: A big meal for food chainsSubway has joined the battle over the morning meal by introducing a breakfast menu. Stacey Vanek-Smith reports the restaurant is the latest fast-food chain to step up its morning game.Source: Marketplace | 5 Apr 2010 | 12:39 pm Will Russia warm to eBay?Online marketplace eBay is moving east -- to Russia. Online sales in the country are expected to grow sharply, but it's not all smooth sailing. Peter van Dyk reports.Source: Marketplace | 5 Apr 2010 | 12:39 pm Squeezing the juice out of extra berriesSnag a great deal on strawberries lately? A good deal for you means a bad year for some farmers. Florida farmer Gary Wishnatzki talks with Kai Ryssdal about how cold weather has led to a flood of extra berries on the market and how his strawberry season is going.Source: Marketplace | 5 Apr 2010 | 12:39 pm China, U.S. work on currency dealThe U.S. is delaying a report that might have branded China a currency manipulator. The two nations have been in behind-the-scenes discussions about China's currency. Nancy Marshall Genzer reports.Source: Marketplace | 5 Apr 2010 | 12:39 pm InBev, Pepsi partner for advertisingAnheuser-Busch InBev and Pepsi are expanding a joint purchasing deal to coordinate advertising buys. Jeremy Hobson reports.Source: Marketplace | 5 Apr 2010 | 12:38 pm Natural gas data to be revisedEvery month the Energy Department comes out with a report about how much natural gas we produce. But the department's changing the way it puts together that report because it's been overestimating our supply. Alisa Roth reports.Source: Marketplace | 5 Apr 2010 | 12:38 pm Will Higher Bond Yields Start Taking Assets Out Of Stocks?The 10-Year Treasury Note is back at 4.00% for the first time since June 2009. The 30-Year is still under the 5.0% hurdle, but both of these levels may need to be watched here. This watch is not the notion that hyperinflation may kick in immediately, nor that economic growth is about to go through [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Apr 2010 | 12:26 pm BlackRock warns on banks’ distressed mortgagesBlackRock, a leading US bond investor, says banks will have to take their share of losses on distressed mortgages before it resumes large-scale purchases of new “private-label” mortgage bonds, which are sold without government backingSource: Financial Times - US homepage | 5 Apr 2010 | 12:20 pm This Oil Company CEO Made $52 Million Last Year. Or Maybe He Made $31 Million.By Jacob Goldstein In the past few days, both the NYT and the WSJ published lists showing how much CEOs of big companies made in 2009. But when you put the lists side by side, you see some funny things. Take Ray Irani, the CEO of Occidental Petroleum. The Times says he made $31 million last year. The WSJ says he made $52 million. Not a trivial difference! The number crunchers who put these lists together use different formulas for totaling up CEO pay. And the discrepancy in Irani's case points to broader issue with executive pay: CEOs make most of their money from bonuses, which often have complicated structures -- some cash, some stock; some granted in one year, but paid another year, or paid out over many years; or whatever. So if you're, say, a shareholder in a company, and you want to figure out how much the company is paying a CEO, it's hard to find a clear, simple number. For Irani, the WSJ's figure includes more than $20 million in bonus payments that aren't included in the NYT's figure. That's because the WSJ reports on bonuses the year they are granted, not the year they are paid out. (Thanks to Steven Sabow of the Hay Group, the firm that compiled the WSJ's list, for explaining this to me.) The SEC has tried to address all this complexity by requiring companies to publish something called a "Summary Compensation Table" in their annual proxy statements. But as the discrepancy between the Times and the Journal figures show, this still leaves a lot of latitude for interpretation. If you want to dig around in the world of executive compensation, you can search for companies' proxy statements with the SEC's search tool. Plug in the company you're interested in, then look for something called form Def 14A, which is the SEC's code for the proxy statement. Besides the summary compensation table, proxies list the value of various perks that CEOs get, which can be fun. How often did the CEO of your company take private trips on the corporate jet last year? Here's the Occidental Petroleum proxy, to get you started. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Apr 2010 | 12:01 pm US Treasury’s bail-out profits top $10bnThe US government has made more than $10bn so far on banks’ repayments of bail-out funds, a new analysis of the unprecedented help extended to the financial sector during the crisis has foundSource: Financial Times - US homepage | 5 Apr 2010 | 11:27 am BioHealth Business Daily (AEZS, KERX, CTIC, FRX, MRNA, OXGN, PIP, RGN, RPRX, RNN, RXII)Today’s version of the BioHealth Business Daily includes some less covered stocks because of the impact from the news flow today. We are seeing shares moving in Aeterna Zentaris Inc. (NASDAQ: AEZS), Keryx Biopharmaceuticals Inc. (NASDAQ: KERX), Cell Therapeutics, Inc. (NASDAQ: CTIC), Forest Laboratories Inc. (NYSE: FRX), MDRNA, Inc. (NASDAQ: MRNA), Oxigene Inc. (NASDAQ: OXGN), [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Apr 2010 | 11:19 am Downturn fuels demand for free drugs in USDemand for free medicines in the US has increased sharply following the 2008 economic crisis, highlighting continued difficulties by Americans in gaining access to medical careSource: Financial Times - US homepage | 5 Apr 2010 | 11:02 am Housekeeping: A Note From Dealbreaker HRYou’ve probably already noticed that we have a new guest writer. Perhaps you’ve heard of him? Zach Kouwe, formerly of the NY Times, was last in the news in a little episode a little while back when it came to light that he borrowed passages from the Wall Street Journal, a no-no that got him dismissed. You’re probably also aware he’d done a similar thing to yours truly when he lifted a memo from us and claimed he’d received it on his own (a claim later retracted by DealBook). Apparently that’s what it takes to get a job here these days! So ladies, if you’re looking for a new gig just start CTRL+C’ing DealBreaker– and I’m sure we’ll be giving you a call. Plagiarizers with tech expertise will get extra-special consideration.
Source: Dealbreaker | 5 Apr 2010 | 10:40 am Refineries Try Shaking Higher Oil Prices (VLO, HES, SON, TSO)It is hard to not notice the $1.70 gain in WTI NYMEX Crude to over $86.50 per barrel this morning. This is on the heels of new reports of economic recovery after last week’s gains in non-Farm Payrolls. It is also days after OPEC and non-OPEC oil ministers argued that $70 to $80 would be [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Apr 2010 | 10:38 am Former Borders CEO gets $805,774 pay in 2009 (AP)AP - Former Borders Group Inc. CEO Ron Marshall received compensation in 2009 valued at $805,774, about 26 percent less than he made in the prior year, according to an Associated Press analysis of an SEC filing on Monday.Source: Yahoo! News: Stock Markets News | 5 Apr 2010 | 10:37 am Barney Frank Has Muzzled Carl IcahnWe know Carl Icahn is such a tough guy he’ll sue his friends and fellow billionaires to win deals. But, has the outspoken sultan of shareholder rights been silenced by Washington lawmakers? The billionaire’s blog, The Icahn Report, launched nearly two years ago with much fanfare to take on inept corporate boards, has been radio silent for nearly a year. (Icahn also started a grassroots campaign – The United Shareholders of America – at the same time.) Carl, WTF? We need you. Are you too busy sparring with The Donald and Lions Gate to weigh in on financial reform and corporate governance? We hear Wall Street’s toughest activist investor halted the blog last April because it pissed off too many of his pals in Washington, where he was also lobbying behind the scenes for changes to proxy rules. One of those was influential, but sensitive Congressman Barney Frank, who we hear gave Carl an earful after he wrote an op-ed in the New York Times arguing the government should have gotten board seats at A.I.G. after taking an 80 percent stake in the company and suggesting Frank’s idea of suing the beleaguered insurance giant would have little chance of success. (The op-ed was then posted on Icahn’s blog.) Carl, don’t let Barney push you around. You’re way taller and have much more in your bank account. (We reached out to Icahn but haven’t heard back yet – we know he doesn’t wake up until noon so hopefully we’ll hear from him soon) Icahn says blog to go live on Thursday [Reuters]
Source: Dealbreaker | 5 Apr 2010 | 10:30 am Cree Raised to `Buy,’ Immucor Cut to `Equalweight’: AudioSource: Bloomberg - All Podcasts | 5 Apr 2010 | 10:17 am How Many People– Ballpark– Can Say They Saw The Housing Crisis Coming?
Alan Greenspan Responds To Michael Burry’s NYT Op-Ed [Distressed Volatility via Daily Intel]
Source: Dealbreaker | 5 Apr 2010 | 10:05 am 'Giant Pool Of Money' Named To Decade Top 10 ListThe Giant Pool of Money -- the hour-long This American Life episode that explained the housing bust and gave rise to Planet Money -- was just named one of the top 10 works of U.S. journalism of the past decade. The list was compiled by NYU's journalism faculty, along with some outside eminences. They said the Giant Pool of Money "finally made the 'subprime' mortgage crisis clear and cogent, and the result was the most downloaded episode in the history of the show." Congrats to Adam Davidson and Alex Blumberg, who made it happen. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 5 Apr 2010 | 9:50 am Apple Analysts Tweak Price Targets Higher After iPad (AAPL)Apple Inc. (NASDAQ:AAPL) may have already unleashed its iPad and already disclosed its first day sales of more than 300,000 iPad units. We have already seen many analyst calls this morning. We are focusing more on price targets here rather than on projected iPad sales because there are of course many other moving parts at [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Apr 2010 | 9:25 am Why Is Jamie Dimon The Most Dangerous Man In America? All of America's most dangerous men have umbrella carriers. True story. According to Simon Johnson, it’s because he runs a big bank and is smart. Obviously, though, there are many, many other reasons why JD is deserving of the title. In order to protect ourselves, the nation, and fuck, the entire planet, we need to identify the most serious now. Is it: * Undiagnosed case of syphilis (and big fan of the raw dog) * Secret rage problem that has resulted in killing many a man in cold blood (hobos mostly but cops, firefighters and RN’s as well) * Stores weapons of mass destruction in the JPM basement * Stores weapons of mass destruction in his pants * All I can say is that there’s more to the Atlanta tire-dumping story than you know (I’ve already said too much) * YOU TELL US
Source: Dealbreaker | 5 Apr 2010 | 9:15 am T.J. Marta on Treasuries, Unicredit’s Rosen on Jobs: First WordSource: Bloomberg - All Podcasts | 5 Apr 2010 | 9:11 am Kirk Says China Trade Tensions `Amplified': Political CapitalSource: Bloomberg - All Podcasts | 5 Apr 2010 | 8:34 am U.S. Natural Gas ETF Drops to Three-Year Low: AudioSource: Bloomberg - All Podcasts | 5 Apr 2010 | 8:17 am The Economics Of The NFL DraftBy Jacob Goldstein The worst NFL teams get to pick first in the draft each year. But teams actually get a better deal when they pick later in the first round, an economist argues. Richard Thaler (of Nudge fame) writes in Sunday's NYT that there's only a 52 percent chance that a player picked earlier in the round will start more games than a player picked later in the round. That's only slightly better than the 50 percent chance there would be if there were no difference at all. This means that although the value of players declines throughout the draft, quality declines more slowly than compensation -- players picked early are very highly paid. As a result, the first pick in the draft has often provided less value to his team, in performance per dollar, than the last pick in the first round ... If this sounds somewhat familiar, maybe it's because you read Thaler's paper on the subject, which is posted over at the Social Science Research Network (Motto: "Tomorrow's Research Today"). Or maybe it's because you remember Malcolm Gladwell mentioning an earlier draft of the paper in his online debate with ESPN's Bill Simmons. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Apr 2010 | 7:49 am Is China Manipulating Its Currency? Don't Ask Tim Geithner.By Jacob Goldstein There was supposed to be big drama this month over whether Tim Geithner would call China a currency manipulator. Don't hold your breath. Geithner was supposed to deliver his verdict in a regular report to Congress due April 15. But in a statement Saturday, he said he would "delay publication of the report." We hashed out the whole is-China-manipulating-its-currency thing on a podcast a few weeks back. The basic argument is that China is keeping its currency artificially cheap in order to make its exports cheaper on the world market. The U.S. almost never calls anyone a currency manipulator, and slapping that label on China would create a lot of political tension. But some Congressmen, who point out that China's currency policies also make U.S. exports more expensive in China, are pushing for tougher action. Saturday's statement suggests Geithner didn't want to come right out and say China is manipulating its currency, but he also didn't want to come right out and say China is not manipulating its currency. So he won't say one way or the other. Instead, he pointed to some high-level meetings planned for the next few months as "the best avenue for advancing U.S. interests." Geithner also basically said China should let its currency appreciate -- which is sort of a funny thing to bundle into a statement announcing that you're not going to say whether China is manipulating its currency. Here's the key bit from the statement about China's currency: China's continued maintenance of a currency peg has required increasingly large volumes of currency intervention. Additionally, China's inflexible exchange rate has made it difficult for other emerging market economies to let their currencies appreciate. A move by China to a more market-oriented exchange rate will make an essential contribution to global rebalancing. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Apr 2010 | 7:28 am Opening Bell: 04.05.10Federal Prosecutors Leaning Against Charges in AIG Probe (WSJ) Greenspan Cites Economic ‘Momentum’ (NYT) I Foresaw The Financial Crisis, Why Didn’t The Fed? (NYT) Buffett’s Berkshire is best-regarded U.S. company (Reuters) Taibbi: Looting Main Street (Rolling Stone) Macro hedge funds fail to profit from crisis (FT) Us Banks In $2.5 Billion ‘Christmas Capital’ Gain (FT) Surprise! Tiger Woods turns up early at Augusta National (Reuters)
Source: Dealbreaker | 5 Apr 2010 | 6:30 am Daimler Pleads Guilty to Bribing Foreign Governments
Daimler has settled with the SEC for $185 million after being charged with bribery in 22 countries between 1998-2008. The BBC has the story: The Justice Department said that by “using offshore bank accounts, third-party agents and deceptive pricing practices, these companies saw foreign bribery as a way of doing business”. Daimler has since fired 45 employees implicated in the bribery. Daimler’s agreement to pay $185m is broken down into $93.6m to end the US Justice Department investigation, and a payment of $91.4m to settle the civil case from the Securities and Exchange Commission, the US financial watchdog. Back in 2008, German industrial group Siemens paid $800m to settle a US investigation into bribes paid to government officials in Argentina, Bangladesh, Iraq and Venezuela. Seen in a certain light, the SEC itself is demanding a payoff in exchange for letting Daimler continue to do business in the States. If international bribery is truly a common way of doing business, then what’s stopping American companies from being involved (let alone implicated) as well? The SEC used Daimler files marked “N.A.” (nützliche aufwendung, a kind of German code word for bribe) as proof that the company was involved in systemic bribes. One Daimler Nigeria executive even committed suicide after being questioned by the SEC. The Times Live has more on what this case could imply about Germany, one of the biggest exporters in the world: The case raises many questions. How could a respected global corporation like Daimler apparently have violated German and international law for years by paying bribes in at least 22 countries? Could it be that the Daimler case is, in fact, typical for Germany, which until recently was the world’s largest exporter? Are German companies as good at corruption as they are at exporting? The most interesting question, though, is whether abandoning bribery will mean that sales decrease at Siemens, MAN and Daimler. There are countries in which it is virtually impossible to conduct business, or at least win major contracts, without paying kickbacks to key decision-makers. In those cases, it remains to be seen whether the SEC will be just as quick to look into suspicions of corruption among US companies. Two other German companies, electronics giant Siemens and the industrial group MAN, were found to have engaged in bribery on a large scale. On March 24, prosecutors searched the headquarters of industrial services provider Ferrostaal. The company is suspected of having used secret payments to promote the sale of submarines and tugs, and of having managed bribes for other companies.
Source: Business Pundit | 5 Apr 2010 | 6:27 am Apple Sells Twice as Many iPads as Expected
On its debut weekend, Apple sold nearly twice the number of iPads analysts had expected. An estimated Hundreds of shoppers lined up to wait for stores to open, though crowds didn’t camp out for days this time, as they did when the iPhone debuted. Many of the buyers identified themselves as early adopters and Apple enthusiasts, making it harder to tell if the iPad will win over mainstream customers. The iPad’s success will depend partly on the attractiveness of applications that run on it. CBS Corp., the most-watched U.S. TV network, announced plans last week to offer episodes of shows such as “Survivor” and “CSI” on the iPad. Walt Disney Co. will release iPad applications for ABC shows and ESPN games. And Netflix Inc., the movie-rental company, will let subscribers watch programming streamed to the iPad. The device went on sale April 3, drawing crowds to stores across the U.S. and rivaling the frenzy seen when the iPhone was introduced in 2007. Lines at five stores surveyed by Piper Jaffray were longer than expected, yet Apple had iPads available late in the opening day, signaling the company was able to produce enough devices to fulfill initial demand, Munster said. Analysts also expect Apple to sell 5 million iPads during the coming year, according to Bloomberg, but those are the same analysts who just underestimated the product’s weekend sales. The article also indicates that higher-than-expected sales may point to a tablet revival. It’s worth considering. I think it’s still too early to tell.
Source: Business Pundit | 5 Apr 2010 | 6:02 am Some Things Don’t Need to be Walked
Source: Business Pundit | 5 Apr 2010 | 5:00 am
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