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Car sales up 26.6% in last month of scrappageThe final days of the Government's scrappage scheme led to a 26.6 per cent rise in sales of new cars during March, although new registrations remain down on long-term comparisons. Source: Latest Business News from Times Online | 8 Apr 2010 | 4:37 am Ben Bernanke’s Vision Of The ApocolypseBen Bernanke has seen the future and it is filled with an American debt balloon the size of which the world have never seen. The federal government will run out of money for Social Security and Medicare. The Wall Street Journal quoted the Fed Chairman as saying “Nothing prevents us from beginning now to develop a credible [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 4:17 am City regulator issues £4.2m fineThe UK's Financial Services Authority has fined three firms a total of £4.2m for failing to provide reports that are used to detect market abuse.Source: BBC News | Business | World Edition | 8 Apr 2010 | 4:12 am Plunging Greek bonds spook investorsGlobal Markets Overview: Shares fall and commodities come off multi-month highs on prospects for a shift in US monetary policy and lingering concerns over the eurozoneSource: Financial Times - US homepage | 8 Apr 2010 | 4:12 am UK savings 'lowest in 40 years'The amount of money being saved by UK households is the lowest in 40 years, the Office for National Statistics says.Source: BBC News | Business | World Edition | 8 Apr 2010 | 4:10 am PBOC advisor urges managed-float for yuanChina should switch its currency back to the managed-float foreign exchange regime in place before the financial crisis, as the conditions that required the move have since faded, an adviser to the People’s Bank of China was cited as saying in reports Thursday.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 4:10 am Further increase in new car salesUK car sales in March increased by 26.6% compared with a year ago, the Society of Motor Manufacturers and Traders says.Source: BBC News | Business | World Edition | 8 Apr 2010 | 4:07 am Indications: Stock futures slip as worries over Greece continueU.S. stock futures point to another session of losses Thursday, with worries about the economic health of Greece continuing to weigh on sentiment and as retailers begin to report their latest same-store sales figures.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 4:06 am Eurozone retail sales fall againRetail sales in the eurozone fell again in February, figures show, underlining the fragility of the economic recovery.Source: BBC News | Business | World Edition | 8 Apr 2010 | 4:02 am The American Consumer Sees His ShadowConsumer borrowing dropped in February by 5.6% to an annual rate of $2.45 trillion, according to the Federal Reserve. Revolving credit, a good proxy for credit card debt, dropped by 13.1%. Nearly everyone who looked at the data came to the same conclusion. Americans are buying less because they kept their Visa and MasterCard in their [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 4:01 am FTC urged to examine Google, Yahoo exchangesA trio of advocacy groups files a complaint with the U.S. Federal Trade Commission, requesting an investigation of the use of technology by Google Inc., Yahoo Inc. and others that can enable marketers to instantly analyze individual Internet users.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 4:00 am 'Strong' M&S sales beat forecastsHigh Street retail giant Marks and Spencer reports sales growth in the three months to March ahead of expectations.Source: BBC News | Business | World Edition | 8 Apr 2010 | 3:55 am Cut the cost of your pension by 90pcCharges can make a big difference to the eventual value of your occupational pension pot, so it pays to shop around.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 3:55 am Euro retail sales down 0.6% in February: EU (AFP)
Source: Yahoo! News: Business News | 8 Apr 2010 | 3:54 am Greece in market storm as debt fears hit fever pitch (AFP)AFP - Financial markets turned on Greece again on Thursday, driving up its borrowing costs to record levels on rising doubt that the EU will provide a debt rescue, and the euro plunged further.Source: Yahoo! News: Business News | 8 Apr 2010 | 3:45 am Wall Street futures point to weaker open(Reuters) - U.S. stocks futures fell on Thursday, pointing to weakness on Wall Street for a second-straight session, with persistent concerns over the fiscal situation in Greece seen weighing on investor sentiment.
Source: Reuters: Business News | 8 Apr 2010 | 3:43 am Wall Street futures point to weaker open (Reuters)
Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 3:43 am UPDATE 1-Sanofi signs $335 mln exclusive diabetes dealPARIS, April 8 (Reuters) - Sanofi-Aventis has signed an exclusive agreement on a possible new diabetes treatment with U.S biotech CureDM as part of the French drugmaker's aim to become a leader in the...Source: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:41 am UPDATE 2-RMG, Teck court Chinese in Australian deposit sale* Around 4.4 mln T copper, 6 mln oz gold, 225 mln lbs uraniumSource: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:39 am A New “Largest Airline In The World”: British Air And Iberia MarryA merger between United Air (UAUA) and US Airway (LCC), which was recently rumored, would not create much of carrier compared to the BA merger with Iberia which was completed today. The new operation will be known as the International Airlines Group and its parent will be named the International Consolidated Airlines Group. The tie-up will create Europe’s [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 3:38 am Toyota Was Warned Of Defects By Inside EmployeeThe smoking gun inside Toyota (TM) has been found. An executive warned his colleagues in the US that cars made by the Japanese company had severe defects. the warning came weeks before the world’s No.1 car firm recalled 8.8 million vehicles. In a memo published by several media, Irv Miller, the Senior Vice President of Environmental [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 3:33 am Currencies: Dollar gains on euro ahead of ECB meetingThe dollar gained on the euro in Asian trading Thursday, ahead of the European Central Bank’s meeting later in the session.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 3:28 am Greece debt fears hit fever pitchThe markets turned against Greece again on Thursday, driving up its borrowing costs to record levels as the euro plunged further.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 3:27 am Stocks set to pull backU.S. stock futures fell early Thursday, ahead of sales results from the nation's large retailers.Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 3:23 am UPDATE 1-Sanofi signs $335 mln exclusive diabetes dealPARIS, April 8 (Reuters) - Sanofi-Aventis has signed an exclusive agreement on a possible new diabetes treatment with U.S biotech CureDM as part of the French drugmaker's aim to become a leader in the...Source: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:23 am H&M, Marks & Spencer push through tough timesTwo of Europe’s biggest retailers report gains in March same-store sales, but Britain’s Marks & Spencer and Sweden’s Hennes & Mauritz continue to speak of tough economic conditions.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 3:23 am Geithner to visit Beijing amid currency dispute (AP)AP - U.S. Treasury Secretary Timothy Geithner is expected to press Beijing over its currency controls when he meets a Chinese vice premier in a sign the two sides are stepping up efforts to narrow their differences in the dispute.Source: Yahoo! News: Business News | 8 Apr 2010 | 3:20 am BA, Iberia seal long-awaited merger dealMADRID/LONDON (Reuters) - British Airways and Spanish carrier Iberia signed a merger agreement on Thursday, sealing a long-awaited deal to create the world's third largest airline by revenue.
Source: Reuters: Business News | 8 Apr 2010 | 3:20 am Greek borrowing costs hit new record high (AP)
Source: Yahoo! News: Business News | 8 Apr 2010 | 3:18 am UPDATE 2-FACTBOX-How combined BA, Iberia will look(Adds holding company name, shareholder structure upon completion of deal, board structure)Source: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:16 am Oil extends losses on demand concerns (AFP)
Source: Yahoo! News: Business News | 8 Apr 2010 | 3:14 am PE firm Centerbridge joins bidding war for Zale -NY PostApril 8 (Reuters) - U.S. private equity firm Centerbridge Partners has jumped into the fray to buy the struggling North American jewelry chain Zale Corp , the New York Post said, citing sources.Source: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:13 am PE firm Centerbridge joins bidding war for Zale -NY PostApril 8 (Reuters) - U.S. private equity firm Centerbridge Partners has jumped into the fray to buy the struggling North American jewelry chain Zale Corp , the New York Post said, citing sources.Source: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:13 am Greek fears hit global stocks, bond spreadsLONDON (Reuters) - World shares fell on Thursday ahead of meetings of the European Central Bank and Bank of England and as worries about Greece's financial stability intensified.
Source: Reuters: Business News | 8 Apr 2010 | 3:06 am Greek fears hit global stocks, bond spreads (Reuters)
Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 3:06 am Nokia fights piracy in China digital music launchNokia will today launch a digital music service in China, in a high-risk move to make inroads into the world’s largest mobile phone market where sales have been crippled due to internet piracy. Source: Latest Business News from Times Online | 8 Apr 2010 | 3:06 am U.K. Election: Conservative lead slipsBritain’s general election battle tightens slightly, with new polls showing the opposition Conservatives’ lead over Labour slipping.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 3:04 am UPDATE 1-Deals of the day -- mergers and acquisitions(Adds British Airways, SAIL, Woori, Ahli United Bank and MphasiSSource: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:02 am UPDATE 1-Deals of the day -- mergers and acquisitions(Adds British Airways, SAIL, Woori, Ahli United Bank and MphasiSSource: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 3:02 am US May Fall Off Safest Soverign Debt Risk ListThe safest sovereign debt investment in the world is Norway’s bonds. Finland, Germany, and Sweden also receive good ratings in the latest version of the CMA Sovereign Debt Report for the first quarter. CMA is part of the CME Group, experts in debt evaluation. What should be troubling for investors in US debt is that American debt [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 3:00 am UPDATE 2-BA seals long-awaited Iberia deal* Tie-up will make world's third largest airline by revenueSource: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 2:58 am UK house prices rise at fastest pace for more than two years, Halifax saysHouse prices in March rose 6.9pc year-on-year, the fastest rate since 2007, as low interest rates boosted demand, Halifax said.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 2:54 am UPDATE 2-TNT mulls mail business IPO, partnerships* Investors have said mail, express split may create valueSource: RSS feed - channel BNewsBusiness | 8 Apr 2010 | 2:53 am London Markets: British shares drop as banks, miners pressureBritish shares fall on Thursday, pulled down by losses for banks and miners, with a rate decision from the Bank of England on tap.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 2:51 am Kyrgyzstan opposition seizes powerKyrgyzstan’s opposition says it has taken power and dissolved parliament after after two days of violent clashes between police and anti-government protesters in the central Asian countrySource: Financial Times - US homepage | 8 Apr 2010 | 2:50 am House price inflation 'picks up'UK house prices bounced back in March, rising by 1.1% last month, according to the Halifax bank.Source: BBC News | Business | World Edition | 8 Apr 2010 | 2:45 am Health problems, no job, no retirement savingsQuestion: My husband lost his job and I had breast cancer. We're turning things around now, but we still wonder: How can we play catch up and start saving again? And at 52 years of age, is it too late? -- V.H., MissouriSource: Business and financial news - CNNMoney.com | 8 Apr 2010 | 2:40 am BA and Iberia complete merger: Key factsBritish Airways and Iberia have signed a merger agreement to seal the long-awaited deal to create Europe's second largest airline.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 2:33 am Merged BA to be renamed International AirlinesBritish Airways is to change its name to International Airlines after its £5 billion merger with Spain's Iberia completes at the end of the year. Source: Latest Business News from Times Online | 8 Apr 2010 | 2:31 am BA-Iberia merger agreement signedBritish Airways and Spanish airline Iberia have signed a deal to merge and create one of the world's biggest airline groups.Source: BBC News | Business | World Edition | 8 Apr 2010 | 2:29 am Law breakers foiled by FacebookYou might be surprised to learn who's following you on Twitter, or who your Facebook friends really are.Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 2:28 am Fundamentalist view: eastern Europe lures investors as region turns aroundFundamentalist view: Russia's economy is growing for the first time in four quarters, says Elena Shaftan.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 2:26 am To fix deficit, Congress needs the will to cutWith Congress having passed an expensive new health care plan, it is a good time to ask whether our political system is capable of undertaking major entitlement and tax reform to put the nation on a sustainable fiscal path.Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 2:22 am Geithner set for China yuan talksThe US treasury secretary is due in China later for talks on a long-running dispute over the Chinese currency, the yuan.Source: BBC News | Business | World Edition | 8 Apr 2010 | 2:20 am British Airways, Iberia ink merger pactBritish Airways and Iberia sign a merger pact, with the combined group to be called International Airlines Group.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 2:15 am Palm CEO on apps: Quality, not quantityFormer Apple exec Jon Rubinstein remains committed to Palm's success, even as takeover rumors swirl.Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 2:14 am Europe Markets: European shares drop as Greek worries persistEuropean shares lost ground Thursday for the second straight session as worries about Greece’s fiscal health continued to weigh on sentiment, with rate decisions from two of the region’s central banks on tap.
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 2:06 am Bank earnings: Back to blackThis earnings season, investors won't have the big banks to kick around anymore.Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 2:02 am Asian stocks drop as investors eye global recovery (AP)
Source: Yahoo! News: Business News | 8 Apr 2010 | 1:57 am Asian stocks drop as investors eye global recovery (AP)
Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 1:57 am Costco March same-store sales up 10 percent(Reuters) - Costco Wholesale Corp on Thursday reported a higher-than-expected 10 percent rise in March sales at stores open at least a year, bolstered by an increase in gasoline prices and strong foreign currencies.
Source: Reuters: Business News | 8 Apr 2010 | 1:54 am M&S beats expectations in Rose's swansongStaff at Marks & Spencer will share an £80 million bonus after the retailer ended the year with better-than-expected same store sales of 5.1 per cent in the UK. Source: Latest Business News from Times Online | 8 Apr 2010 | 1:50 am US rate uncertainty leads investors to cut riskier bets08:20 BST: Uncertainty over the speed of US monetary tightening and festering eurozone fiscal concerns provided investors with an excuse to reduce riskier bets on Thursday. The FTSE All World index...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:48 am BA gains fail to alter FTSE's courseBritish Airways led the winners in London's FTSE 100 on Thursday, but its resistance was unable to alter the course of the overall market, which followed losses across Asia and the US. BA announced...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:47 am FTSE 100 drops at open (AFP)
Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 1:44 am Want to return your iPad?Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 1:41 am Media Digest 4/8/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: British Air and Iberia signed a merger deal. Reuters: US Airways (LCC) and United (UAUA) are in merger talks. Reuters: A Toyota (TM) executive warned about defects in January. Reuters: Geithner will meet with Chinese officials in Hong Kong to press on the yuan issue. Reuters: An FCC official said that the Comcast (CMCSA) ruling may affect the agency’s long [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 1:41 am Marks & Spencer Q4 sales rise 5 pct (AP)AP - British food and clothing retailer Marks & Spencer Group PLC said Thursday that sales in its fourth quarter were up 5 percent, better than forecast, led by a 10 percent jump in non-food sales in its home market.Source: Yahoo! News: Business News | 8 Apr 2010 | 1:41 am Nick Godt's Market Medics: With hope rising, is the end near for stocks?At the very least, some degree of optimism about the U.S. economy has finally resurfaced, writes Nick Godt. Does that mean the end is near for stocks?
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 1:39 am Toyota exec urged automaker to 'come clean' (AP)
Source: Yahoo! News: Business News | 8 Apr 2010 | 1:16 am Raffles Hotel to be sold to Qatar for $275mSingapore's famous Raffles Hotel is to be acquired by Qatar Diar, an arm of state-controlled sovereign wealth fund Qatar Investment Authority, for $275m, it was reported on Thursday.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 1:15 am Australian stocks: Weak lead followedThe Australian share market closed lower on profit-taking amid a weak lead from United States and an unchanged domestic unemployment rate.At the 1615 AEST close, the benchmark S&P/ASX200 index had fallen 23 points, or 0.46 per...Source: nzherald.co.nz - Business | 8 Apr 2010 | 1:10 am M&S staff to share £80m bonus after retailer beats targetsThe retailer's staff will share a bonus of £80m after the retailer beat its targets for the year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 1:00 am GM says it could be profitable this yearGeneral Motors, in announcing a restructuring of its financial statements, says it had less debt and more cash at the end of 2009 than it had a year earlier. ...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am Greenspan defends Fed's handling of subprime mortgage marketWhile admitting mistakes, he warns a panel examining the 2008 financial meltdown that regulators can't predict crises. Institutions must be required to hold more capital and collateral, he says. ...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am Southern California apartment rents are expected to keep fallingA study shows the average cost dropping as much as 3.5% in L.A. County this year, 2.4% in Orange County and less than 1% in San Bernardino and Riverside counties but inching up in San Diego County.Apartment rents are expected to fall as much as 3.5% in Los Angeles County this year, according to a study released Wednesday, as landlords compete for tenants in a market battered by stubborn joblessness and saturated with freshly constructed housing units.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Google sued over claims buzz service violated privacy rightsGoogle Inc., owner of the most-used Internet search engine, was sued over claims that its Buzz social-networking service violated the privacy rights of those who use the company's Gmail service.Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am The MPAA's Joan Graves watches out for the movie watchersGraves heads the Motion Picture Assn. of America's ratings board, which grades movies to help parents decide what children can see. ...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am United, US Airways again land in merger talksExperts say the deal could create higher ticket prices in the months ahead.An on-again off-again merger of United Airlines and US Airways seemed to be in the works again Wednesday as the two seek to forge a potent competitor in the ailing industry.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Demand Media to provide travel articles and videos for USA Today websiteThe Santa Monica start-up, derided by some pundits as a factory for online content, hopes the deal is the first of many it will make with traditional media publishers. ...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am The MPAA's Joan Graves watches out for the movie watchersGraves heads the Motion Picture Assn. of America's ratings board, which grades movies to help parents decide what children can see.Joan Graves has never published a movie review in her life, but she is arguably more powerful than any movie critic in the country. As the head of the movie ratings system for the Motion Picture Assn. of America, Graves presides over a 10-member board that rates more than 700 films annually and assigns them one of five grades, from G to NC-17.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Key Assembly panel backs bill to outlaw commissions paid to CalPERS investment go-betweensThe legislation, prompted by a spreading nationwide scandal over sometimes huge fees paid to 'placement agents,' barely overcomes opposition from lobbyists for Wall Street firms.A bill that would outlaw payments of sometimes huge commissions to the intermediaries that broker investments by California's two big public pension funds was approved by a key Assembly committee without a vote to spare Wednesday.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Demand Media to provide travel articles and videos for USA Today websiteThe Santa Monica start-up, derided by some pundits as a factory for online content, hopes the deal is the first of many it will make with traditional media publishers.If you can't beat 'em, you can always join 'em.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Foreclosure auction of Nicolas Cage's mansion is a flopThe Bel-Air property that one agent calls 'fascinating and bizarre' gets no takers.Nicolas Cage is leaving Bel-Air. And not by choice.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am GM says it could be profitable this yearGeneral Motors, in announcing a restructuring of its financial statements, says it had less debt and more cash at the end of 2009 than it had a year earlier.General Motors Co. is beginning to generate positive cash flow and could be profitable this year, the automaker's top financial officer said Wednesday while announcing a restructuring of the company's financial statements, one of the conditions it has to meet before the federal government can sell its massive stake in the automaker.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Key Assembly panel backs bill to outlaw commissions paid to CalPERS investment go-betweensThe legislation, prompted by a spreading nationwide scandal over sometimes huge fees paid to 'placement agents,' barely overcomes opposition from lobbyists for Wall Street firms. ...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am Toyota execs debated when to disclose accelerator-pedal problemFive days before a massive recall, internal company e-mails show, an executive urged colleagues to keep quiet. A company spokesman responded that Toyota needed to come clean on the matter. ...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am Toyota execs debated when to disclose accelerator-pedal problemFive days before a massive recall, internal company e-mails show, an executive urged colleagues to keep quiet. A company spokesman responded that Toyota needed to come clean on the matter.An executive for Toyota Motor Corp. in January urged colleagues in an e-mail to "not mention about the mechanical failures" of accelerator pedals in its vehicles, prompting a response from the company's top U.S. spokesman that said, "We are not protecting our customers by keeping this quiet," according to internal company documents reviewed by The Times.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Greenspan defends Fed's handling of subprime mortgage marketWhile admitting mistakes, he warns a panel examining the 2008 financial meltdown that regulators can't predict crises. Institutions must be required to hold more capital and collateral, he says.The federal commission probing the financial crisis took aim at the causes of the subprime mortgage meltdown, but former Federal Reserve Chairman Alan Greenspan said Wednesday that it shouldn't point at him.
Source: L.A. Times - Business | 8 Apr 2010 | 1:00 am Southern California apartment rents are expected to keep fallingA study shows the average cost dropping as much as 3.5% in L.A. County this year, 2.4% in Orange County and less than 1% in San Bernardino and Riverside counties but inching up in San Diego County. ...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 1:00 am H&M Q1 profit rises 45 pct on store expansion (AP)AP - Swedish fashion chain Hennes & Mauritz AB on Thursday said profits rose 45 percent in first quarter, helped by higher sales and an increased number of stores.Source: Yahoo! News: Business News | 8 Apr 2010 | 12:54 am NZ stocks: Weaker market sentimentThe New Zealand sharemarket fell away today from an 18-month high reached yesterday, with market heavyweights Fletcher Building and Contact Energy both retreating from multi-month peaks.The benchmark NZX-50 index closed down 17.311...Source: nzherald.co.nz - Business | 8 Apr 2010 | 12:49 am NZ dollar drifts lowerThe New Zealand dollar drifted lower today, particularly against an Australian dollar boosted by strong employment data.Weakness in the euro on concerns about Greece's finances, and a weak performance by Wall Street added to a...Source: nzherald.co.nz - Business | 8 Apr 2010 | 12:47 am United, US Airways in merger talks (AP)
Source: Yahoo! News: Business News | 8 Apr 2010 | 12:34 am Toyota executive urged board ‘to come clean’Toyota’s bid to present itself as a company that puts customers first has been shattered by an internal memo in which a senior American executive begged Japanese management to stop concealing safety issues from the general public. Source: Latest Business News from Times Online | 8 Apr 2010 | 12:24 am Bernard Madoff's New York apartment bought by the man behind Cabbage Patch dollsAl Kahn, the head of 4Kids Entertainment, buys fraudster's $8.9m Manhattan penthouse.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 12:16 am General Election 2010: for small businesses the choice on tax is not straightforwardTony Blair had "Education, education, education". For businesses, the distinction between the three main political parties this time around is simply "Tax, tax, tax".Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Apr 2010 | 11:54 pm Barclays Wealth say that shares continue to look cheapBarclays Wealth said that even after the rally of equity markets in 2009 and so far in 2010, equity market valuations continue to look inexpensive.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Apr 2010 | 11:48 pm U.S. Air, United in merger talksNEW YORK (Reuters) - UAL Corp's United Airlines is in merger talks with US Airways in a deal that could create the second-largest carrier in the United States, two sources familiar with the matter said.
Source: Reuters: Business News | 7 Apr 2010 | 11:33 pm Fonterra refutes public buy-in reportsThe Fonterra Shareholders' Council has hit back at suggestions that mooted changes to the co-operative's capital structure will allow the public to invest directly in the dairy giant.Fonterra Shareholders' Council chair Blue Read...Source: nzherald.co.nz - Business | 7 Apr 2010 | 10:49 pm Geithner's Soft Tone in Beijing May Pay Off (Global Recovery Watch)A quiet approach to China's currency could help U.S. investors.
Source: SmartMoney.com | 7 Apr 2010 | 10:00 pm For Auto Makers, 'Safety' Is Buzzword for 2011VIDEO: Auto makers have tweaked their message since the recalls.
Source: SmartMoney.com | 7 Apr 2010 | 10:00 pm 5 Personal Finance Apps for the iPad (Consumer Action)New tools help you budget, track your portfolio and find deals.
Source: SmartMoney.com | 7 Apr 2010 | 10:00 pm Tax Tips: 3 Often Overlooked Tax Savers (Tax Tips)Don't miss out on these three easy ways to cut Uncle Sam's tab.
Source: SmartMoney.com | 7 Apr 2010 | 10:00 pm The DVD Lowdown: Second Time Around (SmartMedia)See what all the fuss was about with James Cameron's "Avatar."
Source: SmartMoney.com | 7 Apr 2010 | 10:00 pm 3 Small Caps Whose Shares Are Soaring (Screens)Hough: Investors are scrambling after these stocks. Here's why.
Source: SmartMoney.com | 7 Apr 2010 | 10:00 pm The Investing Implications of ObamacareHealth-care fund manager Derek Taner shares his opinions on stocks.
Source: SmartMoney.com | 7 Apr 2010 | 10:00 pm Geithner’s visit raises renminbi hopesTimothy Geithner, US Treasury secretary, will make an unscheduled visit to Beijing, suggesting an understanding could be close on China’s contentious pegged currency regimeSource: Financial Times - US homepage | 7 Apr 2010 | 9:54 pm Egg-farm video is latest salvo in Humane Society's animal-rights campaignThe footage showing chickens in cramped cages and being slammed into bins is part of an escalating war with the food sector.The Humane Society of the United States has released undercover video footage shot at two of the nation's largest egg farms showing workers slamming chickens into metal bins and dead birds littering cages -- the latest salvo in an escalating war between the food sector and the country's leading animal-rights organizations.
Source: L.A. Times - Business | 7 Apr 2010 | 9:48 pm Toyota exec warned on defect: "We need to come clean"TOKYO (Reuters) - A senior Toyota Motor Corp executive in the United States warned in a January email that the automaker needed to "come clean" on a safety defect that caused accelerator pedals to become stuck open.
Source: Reuters: Business News | 7 Apr 2010 | 8:42 pm Geithner to meet top HK official as yuan talk mountsHONG KONG (Reuters) - U.S. Treasury Secretary Timothy Geithner will meet the top Hong Kong government official on Thursday before heading to Beijing for talks, with speculation swirling that the diplomacy presaged a change in China's currency policy.
Source: Reuters: Business News | 7 Apr 2010 | 8:29 pm Asian markets lower in early tradingTOKYO - Asian stock markets slumped in early trading on Thursday, with the mood turning downbeat following overnight losses on Wall Street.Japan's benchmark Nikkei 225 stock average fell 81.90 points, or 0.7 per cent, to 11,210.93....Source: nzherald.co.nz - Business | 7 Apr 2010 | 8:16 pm Obama closes in on Nobel-esque nuclear goalWith relatively little domestic fanfare, but some effect, US president Barack Obama is restoring the cold war arms control agenda to the centre stage of Washington’s foreign policySource: Financial Times - US homepage | 7 Apr 2010 | 7:38 pm Two US airlines 'in merger talks'Two of the main airlines in the US, United and US Airways, are discussing a possible merger, reports say.Source: BBC News | Business | World Edition | 7 Apr 2010 | 7:12 pm Capital + Merchant director yet to be served summonsThe five directors of failed finance company Capital + Merchant have been remanded until next month because the prosecution is still trying to track down one of the defendants.They were due to appear in the Auckland District Court...Source: nzherald.co.nz - Business | 7 Apr 2010 | 6:11 pm Bart Becht collects more than £90m as shares rise in Reckitt BenckiserBritain’s corporate pay league reached new heights yesterday when it was disclosed that Bart Becht earned a £93 million pay packet as chief executive of Reckitt Benckiser last year. Source: Latest Business News from Times Online | 7 Apr 2010 | 6:01 pm Google’s proposed buyout of AdMob faces legal challenge from US regulatorUS regulators are poised to block Google’s proposed acquisition of the mobile advertising company AdMob. The decision would restrict the search giant’s intention to extend its dominance of the internet advertising market. Source: Latest Business News from Times Online | 7 Apr 2010 | 6:01 pm Goldman Sachs denies 'betting against' its clients during financial crisisGoldman Sachs has issued a detailed defence of its actions during the financial crisis and denied that it “bet against” its clients. Source: Latest Business News from Times Online | 7 Apr 2010 | 6:01 pm Madoff apartment bought for $8m despite new owners fearing $‘bad karma’The couple that bought Bernard Madoff’s apartment in New York have admitting that they were worried about the property’s “karma” but were won over by its outdoor space. Source: Latest Business News from Times Online | 7 Apr 2010 | 6:01 pm Haiti mercy flight baby reunited with parents in USFor the five days that she was buried under her collapsed home, two-month-old Jenny Alexis had only the cold corpse of her babysitter to cuddle up to as her own life began to ebb away. Source: Latest Business News from Times Online | 7 Apr 2010 | 6:01 pm 4 states, SEC allege Morgan Keegan cost investors (AP)AP - Four states and federal regulators have taken action against Morgan Keegan & Co., accusing the brokerage firm of costing investors, including retirees, more than $2 billion through fraudulent and reckless business practices.Source: Yahoo! News: Stock Markets News | 7 Apr 2010 | 5:52 pm Citi took outside advice on securitiesCitigroup’s disastrous foray into complex securities before the financial crisis was partly based on the recommendation of outside consultants hired to advise the bank’s leaders, a former senior manager revealedSource: Financial Times - US homepage | 7 Apr 2010 | 5:41 pm Mobile changesIndia's 3G licence bidders are banking on growthSource: BBC News | Business | World Edition | 7 Apr 2010 | 5:26 pm United and US Airways resume merger talksUS Airwaysand the parent of United Airlines have resumed talks about a merger between the two carriers, returning to a possible combination that the pair last discussed in earnest two years agoSource: Financial Times - US homepage | 7 Apr 2010 | 5:20 pm Australian owners bite into Muffin BreakAustralian retail food franchise business Foodco Group has purchased Foodco New Zealand, which operates the Muffin Break franchise in New Zealand.Foodco trades in more than 250 outlets in Australia, and owns Jamaica Blue and Dreamy...Source: nzherald.co.nz - Business | 7 Apr 2010 | 5:19 pm GM posts $4.3 billion loss, says 2010 profit possibleDETROIT (Reuters) - General Motors Co posted a net loss for 2009, but said it was possible to make a profit this year and that it was laying the foundation to return to public ownership.
Source: Reuters: Business News | 7 Apr 2010 | 5:19 pm Bernanke urges caution after upbeat US jobs dataBen Bernanke, Federal Reserve chairman, struck a cautious note on the US labour market, saying hiring remained “very weak” even as the economic recovery gathered steam.Source: Financial Times - US homepage | 7 Apr 2010 | 5:10 pm The Oldest Game In The Airline Industry: United And US Air May MergeThere are two opportunities for companies in the airline business to improve their prospects in troubled times. The first is bankruptcy and the other is M&A. US Air (LCC) and United (UAUA) have decided to consider the second route. The New York Times reports that the transaction would create one of the world’s largest airlines, just [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Apr 2010 | 5:04 pm NZ sharemarket falls earlyThe New Zealand sharemarket fell away in early trading from an 18-month high reached yesterday, with market heavyweights Fletcher Building and Contact Energy both retreating from multi-month peaks.Around 10.15am the benchmark...Source: nzherald.co.nz - Business | 7 Apr 2010 | 4:36 pm US financial reform bill ‘picking up momentum’The prospects for passage of sweeping financial reform legislation have improved recently as negotiations over the bill enter the final stretch, senior officials in the Obama administration saidSource: Financial Times - US homepage | 7 Apr 2010 | 4:35 pm U.S. panel sifts subprime wreckage, blames GreenspanWASHINGTON (Reuters) - The wreckage of Wall Street's subprime mortgage machine was laid bare on Wednesday by a U.S. congressional panel that pointed the finger at Alan Greenspan for not stopping it from running out of control.
Source: Reuters: Business News | 7 Apr 2010 | 4:34 pm Weak Wall St drives down Aussie dollarSYDNEY - The Australian dollar opened lower on Thursday as investors offloaded high-yielding currencies and bought the US currency.At 0700 AEST, the Australian dollar was trading at US$0.9267/70, down slightly from Wednesday's...Source: nzherald.co.nz - Business | 7 Apr 2010 | 4:24 pm Write-Offs: 04.07.10$$$ Hedge fund manager confesses insider trading to priest? [Reuters] $$$ Las Vegas Foreclosure Tours By Private Jet [Luxist] $$$ Hollywood Unites to Block Trading on Movie Box-Office Performance [Media Decoder via Heidi Moore] $$$ Madoff Pad’s Dreamy Views [NYP] 
Source: Dealbreaker | 7 Apr 2010 | 4:10 pm Summary Box: Drop in consumer credit hits stocks (AP)AP - BROKEN CALM: Stocks slid in late-day trading Wednesday after investors grew concerned that a two-month string of almost uninterrupted gains had pushed the market too high.Source: Yahoo! News: Stock Markets News | 7 Apr 2010 | 4:05 pm Stock slide punctures 2-month streak of gains (AP)
Source: Yahoo! News: Stock Markets News | 7 Apr 2010 | 3:52 pm How the major stock indexes fared on Wednesday (AP)AP - A late-day slide broke the stock market's calm Wednesday after concerns grew that shares are overheated.Source: Yahoo! News: Stock Markets News | 7 Apr 2010 | 3:49 pm Fed officials warn on bubbles but Bernanke cautiousSANTA FE, New Mexico (Reuters) - Two top U.S. Federal Reserve officials warned about the risks to the economy from asset bubbles on Wednesday, and one suggested raising interest rates to halt risky behavior that could trigger another bust.
Source: Reuters: Business News | 7 Apr 2010 | 3:48 pm Palm shares soar on takeover rumors (AFP)
Source: Yahoo! News: Stock Markets News | 7 Apr 2010 | 3:48 pm US consumer credit falls in FebruaryUS consumer credit fell sharply in February as lingering concerns about the economy deterred Americans from piling up more debt, official figures showedSource: Financial Times - US homepage | 7 Apr 2010 | 3:44 pm What now for Eliot Spitzer?Fortune editor at large Peter Elkind spent almost two years working on his new book, Rough Justice: The Rise and Fall of Eliot Spitzer, due out April 20. To accompany an exclusive excerpt of the book coming in the next issue of Fortune and on Fortune.com, Elkind recently interviewed Spitzer again about his plans for the future -- including a possible return to politics.Source: Business and financial news - CNNMoney.com | 7 Apr 2010 | 3:42 pm Kiwi dollar finds support on Fonterra surgeThe New Zealand dollar rose to its highest level against the greenback in a week and to a two-week high against the euro, as it continued to find support overnight from Fonterra's strong online auction result.Around 8am the kiwi...Source: nzherald.co.nz - Business | 7 Apr 2010 | 3:38 pm Kristen Davis Be Damned, Eliot Spitzer Leaves Door Open On Run For Office Spitzer says ba-ring it, bitch.
He’s not afraid of this broad, who’s sworn she’ll go head to head with him if he think of so much as running for the PTA, and actually, Ness would relish the opportunity to do battle with her in a no-holds barred debate. As for that other ish?
Source: Dealbreaker | 7 Apr 2010 | 3:31 pm UAL, US Airways jump on merger talks report (Reuters)Reuters - Shares of UAL Corp , parent of United Airlines, jumped more than 4 percent after the bell on Wednesday after The New York Times reported that the company was in merger talks with US Airways Group Inc , citing people briefed on the matter.Source: Yahoo! News: Stock Markets News | 7 Apr 2010 | 3:30 pm U.S. Economy, Inflation, Business of Golf: Taking StockSource: Bloomberg - All Podcasts | 7 Apr 2010 | 3:15 pm Hummer blowout sale: Only 2,200 left!General Motors said made it official on Wednesday: It is shutting down the Hummer SUV brand and offering rich rebates in a bid to move the remaining 2,200 vehicles.Source: Business and financial news - CNNMoney.com | 7 Apr 2010 | 3:09 pm How Much Does It Cost To Build An iPad? The thing itself.(AP Photo/Paul Sakuma) By Jacob Goldstein A research company called iSuppli took apart an iPad and came up with an estimate of how much the components cost. The bottom line for the 16-gig iPad, according to the company: $259.60. The full list of components and prices is pretty cool, in a nerdy way. The processor, manufactured by Samsung, costs $19.50; the battery costs $21.00; the display costs $65; etc. More broadly, iSuppli says that the iPad turns the traditional cost structure for laptops upside down. The cost of most laptops is driven by the processor and the circuit board (the stuff on the inside). But the iPad costs are driven by the interface -- the display, the touch-screen assembly, that sort of thing. Makes sense, when you think about it. This version of the iPad retails for $499; the markup is comparable to that on other Apple products, Bloomberg News said. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 Apr 2010 | 3:05 pm Problems: Google's mobile ad dealThe Federal Trade Commission is gearing up to possibly challenge the proposed merger between Google and mobile advertising giant AdMob on the grounds that it violates antitrust laws, according to news reports.Source: Business and financial news - CNNMoney.com | 7 Apr 2010 | 3:01 pm Google Taking Eye Off Search Market Share? (GOOG, MSFT, YHOO, IACI)Experian Hitwise sent out the monthly data on US search market shares for the month of March 2010. The Microsoft Corporation (NASDAQ: MSFT) and Yahoo! Inc. (NASDAQ: YHOO) combined gains were marginal, although the Bing portion was down 1% to 9.62% in March versus 9.7% in February. The big issue is that Google Inc. (NASDAQ: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Apr 2010 | 2:58 pm Winners And LosersDan Loeb is kicking ass and taking names (Jamie Dinan) Hedge Fund Performance: March 29 – April 2 [PDF]
Source: Dealbreaker | 7 Apr 2010 | 2:22 pm Harrah’s GiveawayWIN A CHANCE TO ATTEND THE 2010 CAESARS TENNIS CLASSIC! To get your chance to win this awesome package sign up for the Harrah’s Casinos email here. More about the 2010 Caesars Tennis Classic: The Caesars Tennis Classic will be hosted by two-time US Open and five-time Wimbledon Champion Venus Williams. The Classic will feature three matches in a team format. The first match will feature 1985, 1986 and 1987 US Open Champion Ivan Lendl going up against former nemesis and 1988 US Open ChampionMats Wilander. Lendl and Wilander, who together have won a combined 15 Grand Slam singles titles, have met in the finals of the US Open, French Open, Australian Open and the Masters a combined six times. The second marquis match-up will showcase 2003 US Open Champion and current top-ranked US men’s tennis player Andy Roddick against 2000 US Open Champion Marat Safin. The third match will feature 14-time Grand Slam men’s singles champion Pete Sampras going up against current U.S. Davis Cup star James Blake in a best-of-three-set match. Caesars will host pre and post-tournament events including the must see Tennis Village in the Palladium Ballroom at Caesars with appearances by the tennis greats. The Village will be open to tournament attendees and the general public. SATURDAY, APRIL 10, 2010 SUNDAY, APRIL 11, 2010
Source: Dealbreaker | 7 Apr 2010 | 2:15 pm Thanks, CNBC! It's The Sincerest Form Of FlatteryAfter Planet Money bought Toxie, our very own toxic asset, David Kestenbaum went on CNBC to talk about it. The folks over at CNBC said they loved the idea. Turns out, they loved it so much that they did it themselves. On today's Power Lunch, CNBC unveiled its own toxic asset. And they're asking their audience to come up with a name. (We can recommend "Kenny," which came in second when we asked Planet Money's listeners to name our asset.) Maybe if the idea really catches on, the market for mortgage-backed bonds like our little Toxie will come back to life.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 Apr 2010 | 2:05 pm Andrew Ross Sorkin And John Mack Do Not See Eye To Eye On Who Should Play Lloyd Blankfein In Crisis Movie
* Gollum * Bruce Willis * Tom Cruise (Tropic Thunder character) * Robert Duvall * Bob Balaban * Ed Koch * Harrison Ford * Werner Klemperer * Paul Giamatti * Wallace Shawn * Stanley Tucci Andrew Ross Sorkin’s Hot Hollywood Wishlist For HBO’s ‘Too Big To Fail’ Movie [Wire]
Source: Dealbreaker | 7 Apr 2010 | 2:05 pm Presented By:Source: Dealbreaker | 7 Apr 2010 | 2:05 pm MKM Partners Recommends Gold Tracking ETFs: AudioSource: Bloomberg - All Podcasts | 7 Apr 2010 | 1:40 pm Mine Disaster Is Not Only Problem Facing Coal Industry (ACI, ANR, BKH, CNX, JRCC, MEE, BTU, KOL, MSA, D, CGX)The coal sector has been rocked in the past two weeks by deadly accidents at mines in China and the US. In China, 32 miners are still missing and 6 are dead, and in the US, 25 miners are dead and 4 more are missing in an explosion at a West Virginia coal mine. Our [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Apr 2010 | 1:30 pm Gold Benefits From Euro Implosion Risk Trading (GLD, SGOL, GDX, GDXJ)The US dollar and commodity prices are supposed to be inversely related, or so we saw during so much of the last 2009 gold rally. Quite simply, global commodity assets quoted in dollars cost more as other currencies rise. But now the markets find themselves in a new spot. The Euro is still having real [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Apr 2010 | 1:23 pm Citi Underwriter Started Sending Higher-Ups Warnings Re: Mortgage Trubs Back In 2006Nobody really listened to him much though, probably because the subject lines of his emails to Bob Rubin and Co were fairly mundane (“THIS LOOKS REALLY FUCKING BAD, FELLAS”) and he forgot to mark them high alert.
Source: Dealbreaker | 7 Apr 2010 | 1:15 pm Maybe China Will Revive GM Buick, Beijing style (AP Photo/ Elizabeth Dalziel) By Jacob Goldstein GM said today that it lost $4.3 billion in the second half of last year, after it emerged from bankruptcy. The CFO also said (yet again) that the company may turn a profit this year. If GM does start making money again, China will deserve a big piece of the credit. In the fourth quarter last year, GM sold more cars in the developing world than it sold in North America and Europe. That was driven largely by China, where the company's sales rose by 67% last year. So far this year, GM has sold more cars in China than in the U.S. This isn't just some weird GM thing: Last year, China passed the U.S. to become the world's biggest car market (that's largest number of cars, not total sales revenue). GM clearly recognizes this shift. When it came out of bankruptcy last year, the company moved the headquarters of its international operations unit to Shanghai. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 7 Apr 2010 | 12:58 pm Retailers prep for consumer spendingSherif Mityas, a retail analyst for global management firm A.T. Kearney, talks with Bob Moon about how retailers can position themselves to jump in when consumer spending starts to turn around, and what happens if they jump the gun.Source: Marketplace | 7 Apr 2010 | 12:52 pm Ryanair mulls a fee for bathroom useIf you're flying Ryainair, you might want to brace yourself for a new fee. The budget carrier is considering a plan to charge for use of its lavatories on short flights. Brett Neely reports.Source: Marketplace | 7 Apr 2010 | 12:52 pm Immigrants: The key to Social SecurityEven though most Americans are putting money into the Social Security fund, those taxes are falling short of what's needed to break even. Commentator Robert Reich says letting more immigrants into the U.S. may be the answer.Source: Marketplace | 7 Apr 2010 | 12:52 pm Why are the French smoking more?It's been two years since France banned smoking in public places. Despite that and steep taxes on cigarettes, the French are puffing even more. John Laurenson reports.Source: Marketplace | 7 Apr 2010 | 12:52 pm A scramble to reassess home valuesMany Americans are paying a lot on property taxes, so a flood of homeowners are appealing to get their home values reassessed in hopes of saving some money. Stacey Vanek-Smith reports.Source: Marketplace | 7 Apr 2010 | 12:51 pm More real estate sites go after rentersTrulia.com, one of the top search Web sites for home buyers, is moving into the rental business. It joins a growing crowd of online sites that are jumping into the rental market. Mitchell Hartman reports.Source: Marketplace | 7 Apr 2010 | 12:51 pm Goldman defends its actions in letterIn Goldman Sachs' eight-page annual shareholder letter, the Wall Street bank sought to reassure shareholders it's been acting in the best interest of its clients. Even when it was trading for itself. Jeremy Hobson reports.Source: Marketplace | 7 Apr 2010 | 12:51 pm The value of platinum begins to riseA new exchange-traded fund allows consumers to buy and sell platinum just like they would sharers of stock. And prices are soaring. Sally Herships reports.Source: Marketplace | 7 Apr 2010 | 12:33 pm James Grant: Alan Greenspan “is a front-running momentum kind of guy and Wall Street’s full of them. He is just a guy in a business suit. That’s Alan Greenspan.”
Source: Dealbreaker | 7 Apr 2010 | 12:03 pm Jimmy Cayne’s Handicap Still in the CrapperJimmy Cayne may have taken a billion-dollar bath on the collapse of Bear Stearns, but that hasn’t kept him from continuing to hack up fairways from Jersey to Florida. A quick check on GHIN.com shows his highness has entered six scores in the first seven days of April. (We’re not sure if he’s playing on his home turf at the Jersey Shore or at the Boca Rio.) With all the time on his hands, you’d think Jimbo’s handicap would be better than your average hacker who plays at his local public course three times a year. But it’s still stuck in the 20s — about the same place it was when Bear was imploding as Jimmy was trying to win the long drive contest. Jimmy, it’s either time to get some lessons, buy a new putter or stick to taking bong hits and playing bridge. Maybe your former pal Ace could help you with your game. He hasn’t heard from you in a while.
Source: Dealbreaker | 7 Apr 2010 | 11:47 am Capital flight squeezes Greek banksThe four largest Athens financial institutions are seeking government support to help counter a liquidity squeeze resulting from a significant flight of deposits in the first two months of the yearSource: Financial Times - US homepage | 7 Apr 2010 | 11:37 am Alan Greenspan: Fixing Wall Street In Two Easy StepsBy Jacob Goldstein Alan Greenspan's testifying today to the commission that's supposed to unravel the financial crisis. His basic message: Regulators can't predict market meltdowns. But it's possible to put in place a couple rules that make the financial system more likely to survive the next crisis. In his prepared testimony, Greenspan says: Regulators who are required to forecast have had a woeful record of chronic failure. History tells us they cannot identify the timing of a crisis, or anticipate exactly where it will be located or how large the losses and spillovers will be. But, he says, regulators can create rules that "make the financial system more resilient in the face of inherently unforeseeable shocks." And he lists two "primary imperatives" toward that end: 1. Require banks to hold more money as a cushion against losses. And make them hold it in a form that can accessed even during a crisis (as opposed to buying types of bonds that may be difficult to sell). In Greenspan's terms: "increased risk-based capital and liquidity requirements." 2. Require all companies -- not just banks -- to post more collateral in trades of financial products such as derivatives. That would reduce what's known as counterparty risk -- the risk that the company on one end of a deal won't be able to pay up when the time comes. In Greenspan 's terms: "significant increases in collateral requirements for globally traded financial products, irrespective of the financial institutions making the trades." The crisis commission is holding a few days of hearings this week on housing and the crisis; they'll also be hearing from former officials from Citigroup, and Fannie Mae. For more Greenspan, check out his recent paper that said, among other things, that the housing bubble wasn't his fault. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 Apr 2010 | 10:45 am The 10 Best Office Fights EverDo you ever feel like hitting your annoying coworker? Screaming at your boss? Smashing a printer or two, perhaps? Chances are, you haven’t done it. But some people have. We’ve compiled a list of the ten best office fights ever. This list includes virals, movie scenes, and ads that reflect the pinnacle of office rage. A couple of the fights are even real, reminding us that anything is possible–even in an otherwise safe and boring office. Don’t Say That! A man disagrees with what his colleague is saying on the phone. When he doesn’t get his point across by slamming a pencil on the table, he tackles his coworker. Traders Gone Wild It’s business as usual for these stock traders–until one of them slides across the table, tackles a coworker, and breaks his computer keyboard on the man’s head. Temper(ature) Control Two men want the fan on different speeds. When one of them takes the fan’s remote control, the other flies into a rage. Roy Charges Jim Roy from The Office charges Jim Halpert–and gets maced. Cube Rampage A cubicle worker goes on rampage, destroying everything in sight. Dense Coworker An employee tries to explain how to do something on the computer. When his coworker doesn’t understand, the employee knocks him over, kicks him several times, and does it himself. Swayze Kicks Butt Patrick Swayze kicks some office butt in this scene from the movie Roadhouse. Jerry Springer Meets Chicago Public Aid Two men brawl Jerry Springer-style in a Chicago public aid office. Meeting Brawl A debate turns into a meeting room brawl in this quick and dirty ad. Man vs. Copy Machines A printer sprays a man’s shirt with black ink. He responds by beating up a photocopying machine with a computer monitor.
Source: Business Pundit | 7 Apr 2010 | 10:12 am Hedge Fund Manager Eric Rosenfeld Wants To Tell Your Kids A Story About Asses
Obviously Eric is not the only one of his kind out there, though he’s the only one to go public with his dream. I know of at least half a dozen hedge fund mangers dying to write children’s novels, some on this very subject, others that start “Once upon a time, there was a good, law-abiding hedge fund manager who married a mental patient.” And obviously I think those tomes should be authored “…with Bess Levin.” Just putting it out there: imagine the possibilities. UPDATE: I spoke with Eric and am interviewing him re: asses this afternoon. WHAT DO YOU WANT TO KNOW? Mrs. Buttkiss And The Big Surprise [Shop Mrs. Buttkiss]
Source: Dealbreaker | 7 Apr 2010 | 10:00 am FT’s Wolf: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 7 Apr 2010 | 9:28 am Arthur Levitt: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 7 Apr 2010 | 9:27 am RBS Securities Ruskin: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 7 Apr 2010 | 9:26 am Gerard Minack: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 7 Apr 2010 | 9:25 am Goldman Sachs: We Did Not 'Bet Against Our Clients'By Jacob Goldstein As usual, only a small sliver of Goldman's profits last year came from investment banking and managing clients' assets. The vast majority ($17.3 billion out of total profits of $19.8 billion) came from a category called "trading and principal investments" -- basically, Goldman's own investments and trades. In the company's annual report, published this morning, Goldman says this trading makes it easier for the firm's clients to buy and sell financial products. And, Goldman argues -- contrary to what you may have read in the papers -- the firm is not in the business of betting against its clients. Here's what the report says about Goldman's investments during the housing meltdown of 2007: Although Goldman Sachs held various positions in residential mortgage-related products in 2007, our short positions were not a "bet against our clients." Rather, they served to offset our long positions. Our goal was, and is, to be in a position to make markets for our clients while managing our risk within prescribed limits. And besides, Goldman says, its clients were savvy investors, not a bunch of chumps that the company could bend to its will: The investors who transacted with Goldman Sachs ... were primarily large, global financial institutions, insurance companies and hedge funds ... These investors had significant resources, relationships with multiple financial intermediaries and access to extensive information and research flow, performed their own analysis of the data, formed their own views about trends, and many actively negotiated at arm's length the structure and terms of transactions. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 Apr 2010 | 7:28 am Daimler, Renault, Nissan Build Alliance
Daimler, Renault and Daimler have agreed to an alliance where they share development costs and possibly facilities. In return, Daimler bought a 3.1% stake in Renault and Nissan, while the latter two keep 1.5% of Daimler. Renault, which owned 44% of Nissan, now owns about 43%. The triad will share development costs and facilities.BusinessWeek has more: (Renault-Nissan CEO Carlos) Ghosn has said Nissan is trying to fully use its capacity in North America to take advantage of a weak U.S. dollar. Daimler, the world’s second-largest luxury-car maker, will move some production of the Mercedes-Benz C-Class model to a plant in Tuscaloosa, Alabama, its only car factory in North America, in 2014 from its Sindelfingen facility in Germany. “We aren’t looking for size by forming the alliance, but we want to transform the size into synergies,” Ghosn said. “The Renault-Nissan alliance and Daimler are so complementary.” The Daimler-Renault-Nissan deal comes at a time when the tightening emissions laws and the economic downturn have hit the auto industry hard. Sharing costs and increasing scale will allow the automakers to stay competitive in a challenging global market. Sharing resources will also help the three companies step into the future more quickly by producing electric cars efficiently. Daimler also finally gets a financial partner for its third generation of Smart cars. This deal is win-win-win.
Source: Business Pundit | 7 Apr 2010 | 6:58 am Farris on Currencies, Greece; Buik on Stocks: First WordSource: Bloomberg - All Podcasts | 7 Apr 2010 | 6:49 am Climate Change: A Productive Hoax?
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Source: Business Pundit | 7 Apr 2010 | 5:11 am
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