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Factory gate price surge piles pressure on BankThe rising price of oil sent factory gate inflation soaring at its fastest pace in 16 months during March, putting more pressure on the Bank of England to keep CPI under control. Source: Latest Business News from Times Online | 9 Apr 2010 | 4:58 am Tories winning election campaign, Alistair Darling admitsAlistair Darling appeared to admit today that the Tories had come out on top in the opening days of the election campaign, but insisted that their economic policies would cause massive job losses in the coming years Source: Latest Business News from Times Online | 9 Apr 2010 | 4:46 am Search on again for WV coal mine blast survivors (AP)
Source: Yahoo! News: Business News | 9 Apr 2010 | 4:19 am Greek Fin Min: Athens not asking for rescue (AP)
Source: Yahoo! News: Business News | 9 Apr 2010 | 4:17 am World stocks advance as Greek default fears ease (AP)
Source: Yahoo! News: Business News | 9 Apr 2010 | 4:14 am Indications: Stock futures point to modest gainsU.S. stock futures point slightly higher in the final session of the week, with markets on course to extend the previous session’s retail sales-inspired gains.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 4:03 am Store Sales Down, Wal-Mart Cuts Prices On 10,000 ItemsIt is a time-honored tradition within the retail industry. When sales drop, so do prices. Of course, not all retailers can afford that. As the holiday season in 2008 showed, many stores simply close their doors and lay off workers. The economy is still bad enough that the practice has continued through 2009 into 2010. Wal-Mart’s [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Apr 2010 | 4:00 am Emerging Markets Report: Rand gains as South Africa gets $3.75 billion loanThe rand rose against the U.S. dollar on Friday, buoyed by the World Bank’s approval of a $3.75 billion loan for South African power utility Eskom that aims to ease the nation’s severe electricity shortages.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 3:58 am Early gains seen for stocksU.S. stocks were poised for early gains Friday, as investors remained upbeat out the economic outlook.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 3:51 am Petroplus rallies on deal to buy Delaware refineryInvestors warmly respond to Petroplus' plan to buy the idled Delaware City refinery in a $220 million deal.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 3:50 am India's Reliance finds more gas in KG basin-sourcesMUMBAI, April 9 (Reuters) - Indian energy major Reliance Industries has found natural gas in four more areas in its field off the country's east coast, two sources with knowledge of the matter said on...Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 3:46 am Last of their kind: 5 fading iconsFrom barber poles to limburger cheese, these 5 companies are the last left in America making iconic products now in their twilight.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 3:44 am Apple iPad: 450,000 soldSales for the highly anticipated iPad hit 450,000 on Thursday, according to Apple's chief executive.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 3:43 am Audi to climb Pikes Peak without a driver (AP)
Source: Yahoo! News: Business News | 9 Apr 2010 | 3:39 am Top U.S. banks reportedly masked risk levelsMajor U.S. banks masked the level of risk they took over the last five quarters by lowering their debt levels just before reporting the figures publicly, The Wall Street Journal reports Friday.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 3:36 am EADS close to decision on U.S. tanker bid: sourcesPARIS (Reuters) - Airbus parent EADS is close to a decision on bidding for a deal worth up to $50 billion to supply air tankers to the United States backed by a U.S. supplier, sources close to the matter said on Friday.
Source: Reuters: Business News | 9 Apr 2010 | 3:33 am Special Report: How the U.S. cracked open secret vaults at UBSZURICH (Reuters)- After the collapse of Lehman Brothers in September 2008, Switzerland's largest bank was teetering. UBS, which was more than three times bigger than Lehman in terms of assets, had to write down some $50 billion during that tumultuous period.
Source: Reuters: Business News | 9 Apr 2010 | 3:30 am The Market For $5 Milllion Plus Homes Falls ApartThe price at which real estate is dropping may have slowed, but that is not helping the ultra-rich to stay in their homes. A study commissioned by The Wall Street Journal and carried out by RealtyTrac showed that 352 homes worth more than $5 million were scheduled for foreclosure in February. The number was 1,312 for all [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Apr 2010 | 3:27 am Thai protesters seize key satellite stationAnti-government demonstrators seize a key satellite station, defying security forces who used tear gas grenades and water cannon in an attempt to control the crowd before retreatingSource: Financial Times - US homepage | 9 Apr 2010 | 3:25 am Revival hopes beat sovereign debt fearsGlobal Markets Overview: Asian and European equities off to a solid start as a modicum of risk appetite returns, despite lingering fears over sovereign debt problemsSource: Financial Times - US homepage | 9 Apr 2010 | 3:23 am UPDATE 1-Netflix inks movie rental deal with U.S. studios* Twentieth Century Fox deal includes streaming licenseSource: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 3:20 am German exports jump in February: official data (AFP)
Source: Yahoo! News: Business News | 9 Apr 2010 | 3:15 am Group: China passenger car sales up 50 pct in Mar. (AP)AP - China's passenger car sales jumped 49 percent in March from a year earlier as manufacturers scrambled to meet strong demand by government tax cuts and subsidies, an industry research group said Friday.Source: Yahoo! News: Business News | 9 Apr 2010 | 3:15 am Sterling boosted by strong production price dataThe pound rose to a seven-week high against the euro on Friday morning on news that producer output prices for March had risen at the fastest pace in 16 months.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Apr 2010 | 3:13 am Putting your money where your heart isYears ago I interviewed a money manager who was a Mormon. One of his biggest (and ultimately shrewdest) bets was a tobacco company.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 3:08 am Australian explorer strikes oil in Hardy countryThe prospect of a string of nodding donkey rigs throughout the country made famous by Thomas Hardy grew today after a South Coast explorer announced it has struck commercial quantities of oil. Source: Latest Business News from Times Online | 9 Apr 2010 | 3:01 am Explorer strikes oil in Hardy countryThe prospect of a string of oil rigs in the country made famous by Thomas Hardy grew today after a South Coast explorer announced it has struck commercial quantities of oil. Source: Latest Business News from Times Online | 9 Apr 2010 | 3:01 am If Oil Goes To $100…The FT reports that Goldman Sachs (GS) and Morgan Stanley (MS) both predict that oil prices could move to $10o per barrel in 2011. Jeff Rubin, a former CIBC chief economist says: “Triple-digit oil prices are going to threaten a world recovery,” according to the paper. A rapid rise of prices to levels above $100 would help [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Apr 2010 | 3:00 am Growth hopes and bid talk help LondonLondon equities bounced back on Friday, led by a resurgent mining sector after global growth prospects improved following well-received US economic data. The FTSE 100 rose 57 points to 5,760.07,...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 2:55 am Prisa, Liberty extend deadline for deal approvalMADRID, April 9 (Reuters) - Spain's Prisa and its prospective partner, U.S. fund Liberty Acquisition Group, said on Friday they had agreed to extend their deadline for the indebted media group's creditor...Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 2:55 am Economic Report: German exports rise 5.1% in FebruaryExports in Europe's largest economy recover in February after falling in the previous month, official data show.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 2:51 am Asian markets mostly higher as traders eye 1Q GDP (AP)
Source: Yahoo! News: Stock Markets News | 9 Apr 2010 | 2:50 am 72 and still working. How to retire?The Problem: Doris Partridge, 72, imagined she'd be retired by now. Instead she's still working part-time, doing data analysis on HIV cases for a nonprofit near her Tallahassee home. "With the changes in the economy, I didn't think it was prudent to leave," she says.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 2:44 am Major U.S. banks masked risk levels: report(Reuters) - Major U.S. banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street Journal said, citing data from the Federal Reserve Bank of New York.
Source: Reuters: Business News | 9 Apr 2010 | 2:44 am Currencies: Dollar slips vs. most rivals in Asia, gains on yenThe dollar advances against rivals as China makes no new overtures toward revaluing its currency, which most analysts believe would give the Japanese unit a lift.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 2:44 am Aviva returns to general insurance in AsiaAviva, Britain's second biggest insurer, is to re-enter Asia's general insurance business with the launch of services in SingaporeSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Apr 2010 | 2:43 am Ex-Fannie Mae executives to face special panel (AP)
Source: Yahoo! News: Business News | 9 Apr 2010 | 2:43 am London Markets: U.K. stocks bounce back after Thursday's slideAfter suffering the biggest one-day drop in six weeks, British stocks are helped by a change in sentiment on Wall Street after evidence of strong consumption.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 2:37 am UK recruitment outlook still uncertain, says Michael PageRecruiter Michael Page believes the outlook in the British employment market remains uncertain despite a "stronger than expected" 9.2pc quarterly rise in its UK gross profits.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Apr 2010 | 2:35 am Swiss banks have record year for suspicious transactionsSwiss nationals led the way as the culprits, followed by the Italians, while two terrorist cases were characterised by small transactionsSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Apr 2010 | 2:32 am BP to cut Thunder Horse output by half -sourceLONDON, April 9 (Reuters) - Oil major BP Plc will cut production at its 250,000 barrels of oil per day Thunder Horse platform in the Gulf of Mexico by half to facilitate planned maintenance, a source...Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 2:29 am KKR, Bain preparing for fresh IPOs: report(Reuters) - U.S. private equity firms Kohlberg Kravis Roberts & Co and Bain Capital are preparing for initial public offerings of Toys "R" Us and NXP SemiConductors , the Wall Street...Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 2:28 am KKR, Bain preparing for fresh IPOs: report(Reuters) - U.S. private equity firms Kohlberg Kravis Roberts & Co and Bain Capital are preparing for initial public offerings of Toys "R" Us and NXP SemiConductors , the Wall Street Journal said, citing people familiar with the deals.
Source: Reuters: Business News | 9 Apr 2010 | 2:28 am Aviva to re-enter Asian insurance marketAviva today announced plans to re-enter Asia’s insurance market, just weeks after rival Prudential revealed a $35.5 billion ($£23.8 billion) takeover bid for AIG’s Asian business, AIA. Source: Latest Business News from Times Online | 9 Apr 2010 | 2:24 am China may raise rates soon, revalue yuan by OctBEIJING (Reuters) - China might increase interest rates as early as this month, but Beijing will probably not resume yuan appreciation as soon as that, a senior government economist said on Friday.
Source: Reuters: Business News | 9 Apr 2010 | 2:21 am Finally! We can get health insuranceHealth care reform has been a long, divisive battle in Washington and across the nation. But these four people can't wait for the changes rolling out.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 2:18 am Rio Tinto ends annual ore pricingMining giant Rio Tinto follows its rivals in the sector in moving to quarterly pricing of iron ore contracts.Source: BBC News | Business | World Edition | 9 Apr 2010 | 2:17 am Stock index futures point to higher start (Reuters)
Source: Yahoo! News: Stock Markets News | 9 Apr 2010 | 2:15 am Stock index futures point to higher start(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 were up 0.2 to 0.3 percent by 3.53 a.m. ET, pointing to a firmer start on Wall Street on Friday.
Source: Reuters: Business News | 9 Apr 2010 | 2:15 am Stock index futures point to higher start(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 were up 0.2 to 0.3 percent by 3.53 a.m. ET, pointing to a firmer start on Wall Street on Friday.Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 2:15 am Bank backs SA coal power stationThe World Bank approves a loan for a huge coal-fired power station in South Africa, despite environmental concerns.Source: BBC News | Business | World Edition | 9 Apr 2010 | 2:13 am Die-hard drivers: 200,000 miles and upSome folks like to drive their cars right to the bitter end. For this elite group, that's hundreds of thousands of miles away.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 2:11 am 33 states out of money for the joblessWith unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans.Source: Business and financial news - CNNMoney.com | 9 Apr 2010 | 2:03 am China may raise rates soon, revalue yuan by OctBEIJING (Reuters) - China might increase interest rates as early as this month, but Beijing will probably not resume yuan appreciation as soon as that, a senior government economist said onSource: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 1:59 am Media Digest 4/11/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: The Fed once again pledged low interest rates. Reuters: If the yuan rises, the euro may be badly hurt. Reuters: Soda companies are hurt by the economy according to AlixPartners. Reuters: March retail sales rose by record amounts. Reuters: United (UAUA) pilots attacked a potential US Airways (LCC) merger. Reuters: Apple (AAPL) introduced its iAd platform and said iPad [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Apr 2010 | 1:56 am Europe Markets: Europe stocks rise on U.S. consumption hopesInvestors shift their focus to evidence of growing U.S. consumption and away from Greece's capital market troubles.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 1:50 am Robert PestonAfter everything, some banks are still window dressingSource: BBC News | Business | World Edition | 9 Apr 2010 | 1:49 am FACTBOX-Five facts about the Indian microfinance sectorApril 9 (Reuters) - An initial public offer by India's SKS Microfinance is likely to set the stage for more such offers from microfinance institutions (MFI) in India. [ID:nSGE6120HP]Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 1:46 am SE Asian leaders urges credible Myanmar elections (AP)AP - Southeast Asian leaders urged Myanmar's isolated military regime Friday to hold "inclusive" elections amid controversy over planned polls the opposition has vowed to boycott and denounced as designed to extend the junta's rule.Source: Yahoo! News: Business News | 9 Apr 2010 | 1:43 am Major U.S. banks masked risk levels: report(Reuters) - Major U.S. banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street...Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 1:43 am Indonesia does not expect hitches in BHP, Adaro dealJAKARTA, April 9 (Reuters) - Indonesia does not envisage any hitches approving a proposed partnership on a coal project in Kalimantan between BHP Billiton and local firm PT Adaro , a government official...Source: RSS feed - channel BNewsBusiness | 9 Apr 2010 | 1:43 am Fuel prices rise againThe price of petrol is increasing again.Most outlets dropped their prices before Easter, but AA spokesman Mark Stockdale said they have now gone back up, to reflect international oil prices.Petrol is up 6 cents to $1.82 and...Source: nzherald.co.nz - Business | 9 Apr 2010 | 1:33 am Former Polaroid owner Tom Petters jailed for 50 years for Ponzi fraudTom Petters, a US businessman convicted of orchestrating a $3.65bn Ponzi scheme that included buying Polaroid as a cover, has been sentenced to 50 years in jail.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Apr 2010 | 1:31 am FTSE 100 gains at open (AFP)
Source: Yahoo! News: Stock Markets News | 9 Apr 2010 | 1:25 am Australian stocks: Energy gives boostThe Australian share market closed higher on Friday as takeover activity among coal stocks boosted the energy sector.At the 1615 AEST close, the benchmark S&P/ASX200 index had risen 10.2 points, or 0.21 per cent, to 4,948.1 points,...Source: nzherald.co.nz - Business | 9 Apr 2010 | 1:23 am Two former Citigroup executives apologize for crisis and bailoutMembers of the panel investigating the financial morass criticize former CEO Charles Prince and former Chairman Robert Rubin for not taking responsibility for the firm's near collapse.Two former top Citigroup Inc. executives apologized Thursday for the financial crisis and the $45-billion public bailout needed to save the banking giant from collapse. But Democrats and Republicans ripped the executives for not taking any responsibility for the company's dramatic fall and the nation's fiscal morass.
Source: L.A. Times - Business | 9 Apr 2010 | 1:00 am Tribune reaches deal with major creditorsThe agreement will allow the media company to file its reorganization plan with the U.S. Bankruptcy Court. Tribune...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am Closing arguments to continue in Bruce Karatz options-backdating caseProsecution seeks conviction of the former KB Home CEO on 20 felony counts. The defense argues that the case is based on admitted lies by another former executive. ...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am Tribune reaches deal with major creditorsThe agreement will allow the media company to file its reorganization plan with the U.S. Bankruptcy Court.Tribune Co. has brokered an agreement with its major creditors that will allow it to file its reorganization plan with the U.S. Bankruptcy Court in Delaware by Tuesday.
Source: L.A. Times - Business | 9 Apr 2010 | 1:00 am Oprah Winfrey's OWN cable channel unveils five new seriesThe TV network is set to launch Jan. 1. The latest additions to its content, including a show featuring the post-divorce life of country music star Shania Twain, bring the lineup total to 15 series. ...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am Pent-up demand explodes for retailers in MarchThe best monthly sales performance in a decade is a promising sign of recovery as major chain stores post a 9.1% gain over last year -- much better than expected, according to an industry survey.The nation's retailers had a blowout month in March as shoppers went on a spending spree that increased sales by a record 9.1%, providing the best monthly showing in at least a decade and offering bold new evidence that a strong economic recovery could be ahead.
Source: L.A. Times - Business | 9 Apr 2010 | 1:00 am Closing arguments to continue in Bruce Karatz options-backdating caseProsecution seeks conviction of the former KB Home CEO on 20 felony counts. The defense argues that the case is based on admitted lies by another former executive.A federal prosecutor asked a jury Thursday to convict former KB Home chief Bruce Karatz of 20 felony charges, saying he secretly backdated stock options to enrich himself and other executives at the Westwood home-building company for seven years.
Source: L.A. Times - Business | 9 Apr 2010 | 1:00 am 'Date Night' could win its box-office clash with 'Titan'The Steve Carell-Tina Fey comedy is generating a lot of interest, while last week's No. 1 is poised for a tumble. ...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am United Airlines on better route for mergerBrighter outlooks for the airline and the industry bolster the carrier's chance to combine with US Airways in their latest round of talks.Time finally may be on United Airlines' side as the carrier's executives, staunch proponents of consolidation, again explore a merger.
Source: L.A. Times - Business | 9 Apr 2010 | 1:00 am Coming to the iPhone this summer: MultitaskingAlong with establishing a mobile ad platform, enhanced e-mail and other features, the new operating system addresses criticism that the phone could run only one program at a time. ...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am Two former Citigroup executives apologize for crisis and bailoutMembers of the panel investigating the financial morass criticize former CEO Charles Prince and former Chairman Robert Rubin for not taking responsibility for the firm's near collapse. ...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am United Airlines on better route for mergerBrighter outlooks for the airline and the industry bolster the carrier's chance to combine with US Airways in their latest round of talks. ...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am Coming to the iPhone this summer: MultitaskingAlong with establishing a mobile ad platform, enhanced e-mail and other features, the new operating system addresses criticism that the phone could run only one program at a time.Apple Inc. Chief Executive Steve Jobs once again took the stage to show off a bevy of enhanced software features that will launch this summer on the iPhone family of devices.
Source: L.A. Times - Business | 9 Apr 2010 | 1:00 am Pent-up demand explodes for retailers in MarchThe best monthly sales performance in a decade is a promising sign of recovery as major chain stores post a 9.1% gain over last year -- much better than expected, according to an industry survey. ...Source: RSS feed - channel BNPaperBusiness | 9 Apr 2010 | 1:00 am Hedge fund BlueCrest moving to GuernseyBlueCrest Capital, one of London's largest hedge funds, is moving its headquarters to Guernsey under the threat of an increasingly onerous regulatory regime.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Apr 2010 | 12:59 am Asia stocks firm near 22-month high; yen falls (Reuters)
Source: Yahoo! News: Stock Markets News | 9 Apr 2010 | 12:57 am Macarthur bidding war breaks outMacarthur Coal rejects a bid from rival Australian coal firm New Hope, having also snubbed offers from Peabody Energy.Source: BBC News | Business | World Edition | 9 Apr 2010 | 12:43 am Al Lewis: Millionaires who want to pay higher taxesMeet Jeffrey Hollender. As a millionaire, he wants higher taxes for all millionaires.
Source: MarketWatch.com - Top Stories | 9 Apr 2010 | 12:26 am NZ sharemarket closes slightly upThe New Zealand sharemarket ended with little changed today but selected stocks continued to advance and brokers noted lines of stock trading in Michael Hill and Pyne Gould Corp.Pike River Coal advanced 7c to 116 to a five-month...Source: nzherald.co.nz - Business | 9 Apr 2010 | 12:23 am Tribune gets creditor agreement on bankruptcy exitNEW YORK (Reuters) - U.S. newspaper publisher Tribune Co said on Thursday it has agreed with creditors on a plan that would help it exit bankruptcy protection later this year.
Source: Reuters: Business News | 9 Apr 2010 | 12:01 am Crews begin moving oil from ship stuck on reef (AP)
Source: Yahoo! News: Business News | 8 Apr 2010 | 11:50 pm NZ dollar in narrow rangeThe New Zealand dollar traded in a very narrow range today.Government accounts for the eight months to February did not provide any impetus and there were no market moving events in the Australian diary today.The NZ dollar...Source: nzherald.co.nz - Business | 8 Apr 2010 | 11:41 pm Realty Q&A: Recovering lost home equity will take yearsWith all the talk about negative equity, the next logical question is: “How long will this last?”
Source: MarketWatch.com - Top Stories | 8 Apr 2010 | 11:37 pm Kiwi named in Ponzi schemeNew Zealand businessman David John Hobbs, of Stoke, near Nelson, allegedly masterminded a series of investment schemes which Australian authorities claim netted more than $58 million.Mr Hobbs, his wife Jacqueline Hobbs, and six...Source: nzherald.co.nz - Business | 8 Apr 2010 | 11:35 pm Toyota response to complaints takes on a confrontational toneSpecial teams are sent to investigate, and sometimes discredit, reported problems. When its customers claim their...Source: RSS feed - channel BNPaperBusiness | 8 Apr 2010 | 10:22 pm Toyota response to complaints takes on a confrontational toneSpecial teams are sent to investigate, and sometimes discredit, reported problems.When its customers claim their Toyota or Lexus vehicles suddenly accelerate, the company is at the ready with teams of technicians that it can deploy rapidly to examine the reports -- and in some cases discredit them.
Source: L.A. Times - Business | 8 Apr 2010 | 10:22 pm Apple launches ad system for mobile devices in race with GoogleCEO Steve Jobs announces the iAd advertising network among features coming this year to its iPhone, iPad and iPod Touch line, aiming to tap into an infant market with huge potential.In a direct attack on Silicon Valley rival Google Inc., Apple Inc. unveiled its new mobile advertising system Thursday and promised to deliver a new generation of compelling interactive ads to its devices.
Source: L.A. Times - Business | 8 Apr 2010 | 10:15 pm Is a Roth Conversion Right for You?VIDEO: In some cases, paying taxes upfront isn't the best move.
Source: SmartMoney.com | 8 Apr 2010 | 10:00 pm Tax Tips: High Income Tax Breaks (Tax Tips)Some tax breaks are available to just about anybody -- regardless of income.
Source: SmartMoney.com | 8 Apr 2010 | 10:00 pm 10 Things Your Tree Service Won't Tell You (10 Things)Improving on Mother Nature can be tricky. Some advice before you hire help.
Source: SmartMoney.com | 8 Apr 2010 | 10:00 pm Why This Man Wants Babies to Get $100 (By the Numbers)A UCLA professor discusses his plan to fight poverty with tiny savings accounts.
Source: SmartMoney.com | 8 Apr 2010 | 10:00 pm Clouds, College Applications and You (Money and Your Mind)How the weather affects your choice of college -- and which school picks you.
Source: SmartMoney.com | 8 Apr 2010 | 10:00 pm Embattled Crafar rejects receivers' relocation offerHigh profile dairy farmer Allan Crafar says he will stay on his family land at Reporoa, despite an offer from receivers that was due to expire at the end of today.It was not clear whether that meant the end of the business day,...Source: nzherald.co.nz - Business | 8 Apr 2010 | 10:00 pm If Greece Falls, Will We Hear It? (Broker Talk)Greece faces new troubles, but some say the U.S. shouldn't worry.
Source: SmartMoney.com | 8 Apr 2010 | 10:00 pm This Week in Business Tweets: Net Net? (Twitter Beat)The upshot of the FCC ruling on net neutrality and John Malone's maneuvers.
Source: SmartMoney.com | 8 Apr 2010 | 10:00 pm Fed officials again pledge low rates, slow asset salesNEW YORK (Reuters) - Federal Reserve officials again reiterated their commitment to low interest rates for "an extended period" on Thursday, given the fragile nature of the economic recovery, and suggested a reduction in the size of the central bank's balance sheet could take as long as two decades.
Source: Reuters: Business News | 8 Apr 2010 | 9:47 pm Arizona to world: Do we have solar!The state is trying to use perhaps its most abundant natural resource -- sunshine -- to become a center for clean energy manufacturing and generation.Barry Broome slipped into San Francisco on a mission: Lure California-based solar companies to Arizona.
Source: L.A. Times - Business | 8 Apr 2010 | 7:40 pm Govt's operating balance healthier than expectedThe Government's bank balance is better than forecast ahead of next month's Budget, but its income from tax has taken a hit.The operating balance for the eight months to February 28 was a deficit of $1.6 billion, ahead of the...Source: nzherald.co.nz - Business | 8 Apr 2010 | 7:22 pm Air NZ to code share with Continental AirlinesAir New Zealand and Continental Airlines have today started a reciprocal code share agreement, providing Air NZ access to parts of the United States not previously available with current partners.Under code sharing agreements...Source: nzherald.co.nz - Business | 8 Apr 2010 | 6:49 pm Housing Stumbles Badly, AgainHome sales and home prices are supposed to improve in the spring despite the fact that government programs to encourage purchases will go away. Defaults must fall to fuel the recovery. If they do not the inexpensive inventory on the market will grow, increasing supply during a period of tentative demand. First American CoreLogic, which measures [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 6:44 pm SoCalGas gets OK for $1-billion smart-meter projectThe California Public Utilities Commission votes 3 to 2 to let the firm bill customers to install the radio-controlled devices on 6 million homes. Critics say it's a money loser.A divided Public Utilities Commission on Thursday approved a request from Southern California Gas Co. to charge customers $1.05 billion to install radio-controlled smart meters on 6 million homes from Fresno to the Mexican border -- overriding criticism that the technology simply isn't needed.
Source: L.A. Times - Business | 8 Apr 2010 | 6:32 pm ECB’s Trichet: What? Me, WorryJean-Claude Trichet, president of the European Central Bank, an agency with almost no power, said that Greece will not default on its debts. It was as if there is some magic in his words that might help the southern European republic out of what looks more each day like a death spiral. Trichet told Bloomberg, “A default is not [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 6:19 pm Apple reveals iPhone ad platformApple previews features included in a new iPhone operating system - including mobile advertising - to be launched later this year.Source: BBC News | Business | World Edition | 8 Apr 2010 | 6:14 pm Bluecrest hedge fund moves to low-cost GuernseyOne of London’s biggest hedge funds has quit the UK for tax purposes as the Government continues to fight for the confidence of corporate Britain. Source: Latest Business News from Times Online | 8 Apr 2010 | 6:01 pm Apple allows its iPhone to multi-task at lastThe iPhone will finally be able to multi-task thanks to new software unveiled yesterday that will allow users to run more than one program at a time. Source: Latest Business News from Times Online | 8 Apr 2010 | 6:01 pm Essar to raise £1.6 billion in London flotationLondon will see its biggest flotation in almost ten years with the £1.6 billion listing of Essar Energy, announced yesterday by the Indian tycoons Shashi and Ravi Ruia. Source: Latest Business News from Times Online | 8 Apr 2010 | 6:01 pm Greece on the brink as bond rates surge to record highsGreece was pushed closer to the edge by a panicky bond market yesterday, which ramped up the cost of its borrowing to new highs. A hammering of bond prices by investors took the yield on short-term Greek debt as high as 8 per cent at one point, prompting speculation that a rescue might be imminent. Source: Latest Business News from Times Online | 8 Apr 2010 | 6:01 pm 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 | 6:01 pm Nord Stream construction startsConstruction of the controversial Nord Stream pipeline from Russia to Germany under the Baltic Sea is being officially launched later.Source: BBC News | Business | World Edition | 8 Apr 2010 | 5:29 pm Energy shiftWill shale gas mean sleepless nights for Gazprom bosses?Source: BBC News | Business | World Edition | 8 Apr 2010 | 5:15 pm UAL pilots attack U.S. Airways merger prospectCHICAGO/WASHINGTON (Reuters) - United Airlines' pilots union lashed out against efforts to merge the airline with US Airways Group , underscoring the challenges facing decade-old attempts to unite the carriers.
Source: Reuters: Business News | 8 Apr 2010 | 5:13 pm General Election 2010: bogus battle over National Insurance hides real challengeQuite how the National Insurance rise has dominated election headlines may seem to be a mystery, says Edmund Conway.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 5:12 pm Hollywood top guns take shot at reviving MGMTony and Sir Ridley Scott have emerged as surprise contenders to steer Metro-Goldwyn-Mayer back to solvency after submitting a restructuring plan to the Hollywood studio’s lendersSource: Financial Times - US homepage | 8 Apr 2010 | 5:01 pm Murdoch in ad price attack on rival NY TimesNews Corp is offering steep discounts to advertise in its Wall Street Journal and New York Post newspapers as its chairman Rupert Murdoch prepares an aggressive attack on the New York Times, people familiar with the plan saidSource: Financial Times - US homepage | 8 Apr 2010 | 5:00 pm Investors look past Greece worries to retail sales (AP)
Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 4:55 pm Cramer’s Anti-Greece Stock Militia (BBBY, TJX, GS, EOG, WYNN, ROST, TGT)It’s been a while since we covered Jim Cramer on CNBC’s MAD MONEY, probably for multiple reasons other than many of his shows seemed to be taped educational pieces. But tonight after the close, Cramer gave a rant that actually makes sense as far as trading is concerned. He was showing how the woes of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 4:55 pm NZ stocks: Market edges up earlyThe New Zealand sharemarket edged ahead in early trading with Pike River Coal advancing again, to a five-month high.Around 10.15am the benchmark NZX-50 index was up 0.79 points to 3308.55, having yesterday fallen away from an...Source: nzherald.co.nz - Business | 8 Apr 2010 | 4:55 pm Airlines swept up in merger movesA wave of consolidation swept across the airline sector as British Airways and Iberia reached agreement on their planned tie-up while US Airways resumed talks on a deal with United AirlinesSource: Financial Times - US homepage | 8 Apr 2010 | 4:51 pm Wilbur Ross, Loan Securitization, Ratings Firms: Taking StockSource: Bloomberg - All Podcasts | 8 Apr 2010 | 4:48 pm Write-Offs: 04.08.10$$$ Prince Shows Shame, Rubin Shows Defiance [WSJ] $$$ Convicted `Squawk Box‘ Brokers Seek New Trial, Alleging U.S. Hid Evidence [BN] $$$ Should hedge Funds Be Able To Take Over Failed Banks (CNBC) $$$ Set my bonus free! [FINS] 
Source: Dealbreaker | 8 Apr 2010 | 4:30 pm Sparks fly as China’s hunger for coal growsPeabody’s bid for Macarthur Coal underscores the global appetite for Australian coal, just as the country’s iron ore and liquefied natural gas sectors are booming from China-fuelled demandSource: Financial Times - US homepage | 8 Apr 2010 | 4:28 pm KB Home ex-CEO trial: fraudster or upstanding? (Reuters)
Source: Yahoo! News: Business News | 8 Apr 2010 | 4:28 pm What is Jamie Dimon trying to pull?Jamie Dimon could be the most dangerous person in America. It's not that he is incompetent and likely to lead his bank quickly onto the rocks. On the contrary, Mr. Dimon threatens our economic and political system precisely because he is so good at his job, and because he is determined to translate his recent success into making his bank even bigger.Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 4:02 pm How the major stock indexes fared on Thursday (AP)AP - The stock market recovered from an early slide after an increase in retail sales overshadowed concerns about Greece's debt problems and the job market. The Dow Jones industrial average finished with a gain of 30 points after being down 53 and falling the prior two days. Broader indexes also rose. The Dow closed at the exact same level it did a week ago.Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 3:55 pm New college grads to make less $$$College students gearing up to graduate this spring are likely to make less on their first job than those who got their degree last year, according to a report released Thursday.Source: Business and financial news - CNNMoney.com | 8 Apr 2010 | 3:52 pm Summary Box: Stocks turn higher on sales reports (AP)AP - MARKET U-TURN: Stocks rebounded from an early slide after stronger sales at many retailers boosted expectations for the economy and the corporate profit reports that begin to arrive next week.Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 3:52 pm Obama signs nuclear treaty with MedvedevUS and Russian presidents sign strategic arms control treaty at a ceremony in Prague, but pact skirts around troublesome issues such as missile defenceSource: Financial Times - US homepage | 8 Apr 2010 | 3:45 pm Currency: Dollar rebounds overnightThe New Zealand dollar dipped overnight against the major currencies but then regained the lost ground to be a little stronger at the local open than at the local close yesterday.By 8am the kiwi was buying US70.62c from US70.46c...Source: nzherald.co.nz - Business | 8 Apr 2010 | 3:45 pm Markets hit by Greek debt fearsEuropean financial markets have been hit by renewed fears over the state of Greece's debt-ridden economy.Source: BBC News | Business | World Edition | 8 Apr 2010 | 3:30 pm Warren Buffett Hit With Lawsuit by RV Dealer
That’s at least what one executive of a Berkshire Hathaway-owned RV company has alleged in a recent lawsuit filed after he was denied the CEO position and fired from the company. The former exec, Brad Mart, said he helped orchestrate the $800 million sale of the RV company, Forest River, in 2005 by simply submitting a two-page summary of the business to the Oracle of Omaha, who “surprisingly” called Mart a few hours later and bought the company shortly after. “Mart was surprised that Buffett made the decision to purchase the company with virtually no due diligence, including no onsite visit to Forest River,” he said in the complaint. But the real charges come against former Forest River owner and current CEO Peter Liegl, who Mart accuses of taking cash from factory vending machines and depositing it in his personal bank account. If that wasn’t enough of a crime, Mart also says Liegl keeps Forest River employees on the payroll even though they had retired and required the company to purchase RV parts and supplies from National Supply, a company wholly-owned by Liegl, at inflated prices, “pouring millions of dollars into Liegl’s pockets over a period of years,” according to the complaint. Mart said he talked to Buffett six times in 2008 about the alleged frauds committed by Liegl, but the Berkshire chairman said through an assistant that, “he just can’t get involved in issues like this at subsidiaries.” “Mr. Mart did not alert Mr. Buffett to any unethical, fraudulent or illegal activities” at Forest River, a Berkshire Secretary said in an interview with Bloomberg News. “In the course of the investigation, these allegations came to light,” Krutter said of the fraud claims. “My investigation did not identify any fraudulent, unethical or illegal activities.” the secretary said he’s seen “no evidence or indication” that allegations of death threats from Liegl are valid, and that the reasons for Mart’s dismissal aren’t related to his claims. Read Complaint Against Berrkshire filed by Brad Mart
Source: Dealbreaker | 8 Apr 2010 | 3:30 pm Oil prices down on fears of soft demand (AFP)
Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 3:24 pm There’s At Least One Alan Greenspan Portrait You Don’t Have To Wait For Him To Die For To Get Any Use Out Of
Source: Dealbreaker | 8 Apr 2010 | 3:20 pm TSX reverses early loss as energy shares gain (Reuters)Reuters - The TSX ended slightly higher on Thursday, rebounding from steep losses early in the session as oil prices climbed back from lows and optimism grew about the global recovery.Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 3:06 pm Greece plunges deeper into crisis, banks, euro hitATHENS (Reuters) - Markets pounded Greek bonds and banking stocks on Thursday, driving the debt-stricken euro zone member's borrowing costs to new highs and pushing it closer to tapping a last resort EU/IMF safety net.
Source: Reuters: Business News | 8 Apr 2010 | 3:01 pm The SEC Doesn’t Give A Rat’s Ass If You Or Your Tabby Cat Don’t Want To Take The SubwayI don’t think I have to tell you that the SEC has been stepping up its game like crazy these last few months. They had a stern talking to with one of their employees about cutting back on his tranny porn surfing time on the job, they busted that “psychic” money manager , and now they’ve reaffirmed their commitment to protecting the capital markets by barring a trader from the industry for accepting car service from a broker he traded with without disclosing the conflict of interest. That’s “bribery” and it ain’t happening on Mary Schapiro’s watch.
They also nailed his buddy to the wall for accepting rent and travel costs for himself, his relatives, and his pet.
Source: Dealbreaker | 8 Apr 2010 | 2:49 pm Apple to battle with Google for mobile adsApple launched a war with Google over mobile advertising revenues as it announced its own iAd network for the iPhoneSource: Financial Times - US homepage | 8 Apr 2010 | 2:49 pm Which Way is the Wind Blowing?About 40% of US electricity is generated by burning natural gas. Another roughly 30% comes from burning coal and about 10% is generated by nuclear fission. Wind-generated power accounts for 1.8% of all US generating capacity. The US added 10,000 megawatts of wind generation in 2009, bringing the total capacity to about 35,000 megawatts. On average, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 2:45 pm Marc Bolland must set M&S's profits record straightMarc Bolland will start as Marks & Spencer's new chief executive on May 1. On May 25 he will witness his first M&S full-year results with all the attendant hoopla. For Sir Stuart Rose they will be the last annual results that he can claim responsibility for.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 2:38 pm “Pretty Okay Dude” Defense Turns Out Not To Work For Tom Petters
Source: Dealbreaker | 8 Apr 2010 | 2:13 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 | 8 Apr 2010 | 2:00 pm Presented By:Source: Dealbreaker | 8 Apr 2010 | 2:00 pm UK economy avoided a double-dip recession, says think tank NiesrEconomy avoided a double-dip recession and grew 0.4pc in the first quarter, claims the National Institute of Economic and Social Research.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 1:57 pm Ex-Citi chiefs say sorry for loan lossesChuck Prince and Robert Rubin on Thursday apologised for Citigroup’s severe losses on mortgage-related securities but insisted that there was nothing wrong with the company’s risk management ahead of the financial crisisSource: Financial Times - US homepage | 8 Apr 2010 | 1:40 pm An Ad Man On Nike's New Tiger Woods CommercialBy Jacob Goldstein If Nike wants to stay in the golf business, it needs to stay with Tiger Woods. And Tiger Woods still needs to be rehabilitated in the public imagination. So the somewhat creepy Tiger Woods ad that Nike just started airing makes sense. That's how a former ad exec explained it to me this afternoon, anyway. "Nike and Tiger Woods have become essentially inseparable," Neal Burns, who is now a professor at the University of Texas, told me this afternoon. "He is Nike." Burns, who was a partner at Carmichael Lynch Advertising in the '80s and '90s, likes the new ad. Unlike that press conference earlier this year, the new ad really makes Woods look contrite, Burns said. Of course, that doesn't tell us anything one way or the other about how Woods really feels. But that's not the point. "You know that the guy who was running the camera and the director worked hard to get the look they wanted to have," Burns said. "Nike is trying to sustain its investment, and I think they are doing a very good job." A bunch of other brands -- Accenture, AT&T, Gatorade -- have cut their ties to Woods, today's WSJ points out. The video game maker Electronic Arts has kept its relationship with him, and just brought ought its own new Woods ad. (Of course, when you sell a video game called "Tiger Woods PGA Tour", you don't have much choice about maintaining the relationship. The EA and Nike ads are a small step back for Woods, Kevin Adler, president of a sports business consulting firm called Engage Marketing told the WSJ. "The bigger step, which will take longer, will be him signing a non-golf-associated endorsement deal," he said. "I don't see that happening in the near future." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Apr 2010 | 1:39 pm Retail Business Daily (TGT, GPS, RAD, AEO, ANF, GYMB, RTH)Today’s Retail Business Daily has a roundup of names in the retail sector that are responding to changes and news in the Industry. The market continues to improve for many top retailers. A combination of an early Easter and improved consumer spending has left many companies in the sector with strong same store sales reports [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 1:31 pm Polaroid ex-owner gets 50 yearsUS businessman Tom Petters is sentenced by a federal judge to 50 years in prison for his role in a $3.7bn fraud.Source: BBC News | Business | World Edition | 8 Apr 2010 | 1:07 pm M&S clothing range hit a 'purple patch', says Sir Stuart RoseSales at Marks & Spencer between January and the end of March were significantly stronger than the City expected, leading executive chairman Sir Stuart Rose to claim that the retailer's clothing ranges have hit a "purple patch".Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Apr 2010 | 1:05 pm Patented peanutsWho has the right to make the best cure for starvation?Source: BBC News | Business | World Edition | 8 Apr 2010 | 1:03 pm Did Bruce Wasserstein Ever Have Any Real Friends?
But one thing is clear: Most of the deceased dealmaker’s colleagues thought he was a selfish asshole who took home a giant paycheck without doing much to deserve it. Several Lazard partners even tried to stage a coup to oust Bruce and approached the board about his enormous pay package in 2008, Cohan reports. But the board eventually feared shareholder lawsuits if Bruce left and the stock dropped. Here’s one Lazard banker’s take:
And another Lazard MD:
On the mystery surrounding Bruce’s sudden death, which has never been fully explained, Howard Rubenstein and Judi Mackey, Lazard’s public-relations head, told Vanity Fair:
Source: Dealbreaker | 8 Apr 2010 | 12:53 pm BioHealth Business Daily (CELG, HALO, CTIC, ENMD, FRX, NVAX, TCM)Thursday’s edition of the BioHealth Business Daily has many common companies through the biotech and pharma sectors, as well as some widely unknown names. We are seeing news reactions in shares of Celgene Corporation (NASDAQ: CELG), Halozyme Therapeutics, Inc. (NASDAQ: HALO), Cell Therapeutics, Inc. (NASDAQ: CTIC), EntreMed, Inc. (NASDAQ: ENMD), Forest Laboratories Inc. (NYSE: FRX), [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 8 Apr 2010 | 12:27 pm Piper Jaffray’s Munster: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 8 Apr 2010 | 12:26 pm Goldman's McKelvey: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 8 Apr 2010 | 12:25 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Thursday:Source: Yahoo! News: Stock Markets News | 8 Apr 2010 | 12:19 pm U.K. veterans have trouble finding jobsVeterans in the U.K. are struggling to find employment after they leave the armed forces. Stephen Beard reports.Source: Marketplace | 8 Apr 2010 | 12:14 pm Immigration: Cure-all or Ponzi scheme?Some listeners say Robert Reich's commentary about how letting more immigrants into the U.S. can solve the Social Security crisis is just another Ponzi scheme. USC's Dowell Myers talks with Bob Moon about whether that's true and how to fix the system.Source: Marketplace | 8 Apr 2010 | 12:14 pm A gov't crackdown on distracted driversThe Obama administration has announced a new project to help police officers in two states prevent drivers from becoming distracted. Collin Campbell reports.Source: Marketplace | 8 Apr 2010 | 12:13 pm New chip could change electronicsHewlett-Packard scientists have announced they've come up with technology contained in computer chips that will revolutionize how our electronics work. The Wall Street Journal's Don Clark talks with Bob Moon about why the finding is important and what it means for storage.Source: Marketplace | 8 Apr 2010 | 12:13 pm Congress to look into mining safetyCongress is planning hearings on mine safety in response to the explosion at the Upper Big Branch mine in West Virginia. Nancy Marshall Genzer reports.Source: Marketplace | 8 Apr 2010 | 12:10 pm iPad users complain about Wi-FiSorry early adopters, some iPad users are reporting their devices can't connect or stay connected to the Internet. Why don't companies catch big glitches like these? Stacey Vanek-Smith reports.Source: Marketplace | 8 Apr 2010 | 12:10 pm Citi claims ignorance on risky investingFormer Citigroup executives testified on Capitol Hill about the bank's role in the financial crisis. One senior adviser insisted no on brought potential problems on Citi's balance sheet to his attention. So where does the buck stop? Jeremy Hobson reports.Source: Marketplace | 8 Apr 2010 | 12:10 pm INSEAD Has Ways Of Dealing With MBA Students Who Can’t Keep Their Pants OnOne point for the CFA track.
Source: Dealbreaker | 8 Apr 2010 | 12:00 pm Oil could give kiss of death to recoveryThe price of oil has suddenly risen to the point where triple-digit crude is once again in the offing and might threaten a global recoverySource: Financial Times - US homepage | 8 Apr 2010 | 11:51 am The Big Picture: Essential Business Lessons from the Movies (Book Review)
OK, turn that around. What do you think about when you’re not watching a movie? If you compare real-life events to movies, think of the right movie quotes for every situation, and see most movies the week they’re released in theaters, read on. A couple of movie buffs just like you put together what could be the ultimate compilation of business lessons from movies. Many movies–even date movies and comedies–are full of lessons for business. Authors Kevin Coupe and Michael Sansolo cover the best of those lessons in The Big Picture: Essential Business Lessons from the Movies. In their new book, they share the business wisdom in 65 famous classic and modern movies. The Big Picture’s combination of clever business analysis with the joy of cinema makes it a fun, insightful read. Content Part 1: Action/adventure movies like Jaws and Rocky The book has a total of 51 brief chapters. Every chapter is devoted to a different business lesson, indicated in the title section of the chapter. Lesson topics include branding, customers, strategy, leadership, ethics, and more. In each chapter, you learn what a certain movie is about, and what themes and scenes carry the relevant business lesson. The most gratifying business lessons are the unexpected ones, like how Charlie Wilson, a single person, made a big difference in Charlie Wilson’s War–but his efforts ultimately ended up being in vain, because Congress never passed a motion to rebuild Afghanistan afterwards. The lesson: One person can make a difference, but if you don’t see the job through, it can all go down the toilet. The authors’ movie selections are also refreshing. Who knew you could learn about the importance of delivering bad news as soon as it happens from Adam Sandler’s The Wedding Singer? The authors sometimes banter with one another, or give you different individual insights in the same chapter. That keeps the fun. Despite many clever and original movie choices, a few lessons, like build relationships in good times (shown through The Godfather), are rather obvious. Thoughts The Big Picture could be a great resource for presentations, speeches, training, and any other business activity that could use good movie references. The authors make it easy for you to find a cinematic example to express your business point. This may be a good book to keep around as a reference if you speak or team-build frequently. The authors’ well-written commentary made me want to see a number of movies again—or for the first time. That said, I’m not a movie buff. I like movies, but it’s not a habit of mine to think about them outside of the movie theater. For that reason, the book felt more laborious to me than I think it would have to a true movie fan. I also noticed that it was more fun to read about the movies I’d already seen than those I hadn’t. This also makes me think that someone who has seen–and remembered–a lot of movies would enjoy this book a little more than a casual movie watcher like me. All in all, if you’re a movie buff, The Big Picture will gratify and instruct. It’s also useful if you want a good reference book for motivational, team-building, and training speeches. I recommend it for movie lovers, movie critics, and anyone with a heart for cinema.
Source: Business Pundit | 8 Apr 2010 | 11:00 am Jobless Claims Jump, But Economists Say Recovery's Still On TrackBy Jacob Goldstein The number of people filing new claims for unemployment rose last week, the Department of Labor said today. But despite the surprising rise, economists said the job market is likely to continue to improve in the coming months. Last week, 460,000 people filed initial claims for unemployment -- up 18,000 from the previous week. The weekly numbers tend to be very volatile, so economists often look at the average of the most recent four weeks instead. That figure now stands at 450,250, a increase of 2,250 from the previous week. But unemployment claims "only tell you about half of the payroll story," Ian Shepherdson, an economist at High Frequency Economics, told me this morning. "They just measure growth firings, they don't measure growth in hirings." Companies have been adding more jobs in recent months, and payrolls grew by 162,000 in March. Many of those positions are temporary, but an uptick in temp hiring by private companies is often a sign that more permanent jobs are coming soon. (Some of the March jobs were also government temp jobs linked to the census; those don't have much of an effect on the long-term picture.) Shepherdson said he expects the economy to add jobs in the coming months. And a survey of CEOs published Wednesday by the Business Roundtable found that 29% plan to increase their workforce in the next six months, compared with 21% planning cuts. That's a reversal from late last year, when 31% of CEOs said they were planning to cut their workforce, compared to 19% planning to increase the number of workers. Even if hiring picks up, the unemployment rate may remain stuck near 10%. That's because improving economic conditions may lead more people to look for work, and the unemployment rate is based on how many people are looking for a job but can't find one. Still, when the rate of hiring is high enough (and the rate of firing is low enough), the unemployment rate can fall even when more people start to look for work. In a speech yesterday, Ben Bernanke said that hiring remains "very weak," but he added that continued economic growth should "slowly reduce the unemployment rate over the coming year." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Apr 2010 | 10:32 am Hedge Fund Manager Eric Rosenfeld’s Children’s Book About Asses Also Has An Economics Lesson Found Within
Is this an allegory for the financial crisis? Bubbles, etc? Ten years ago the seeds were already being sown. A bunch of Alan Greenspan’s friends knew what was happening. It definitely could’ve been about the crisis. Is it about LTCM? It could still be about John Meriwether. His gastroenterologist loves to talk. Anyway…you said you came up with this story when you were putting your kids to bed. What happened that night that this was the story you came up with? Kids like this sort of thing? I vacillated between being amused and really grossed out. Having said that, I found it to be a real page turner and when I was recounting it to my friend Jessica Pressler over IM she kept asking “And then what happens?” so you might have yourself a winner. Why is Mrs. Buttkiss so fat? You talk about how huge she is A LOT. (“Mrs. Buttkiss was a very large woman” “She had a HUMONGOUS butt” “When she went to the grocery store she’d fill two carts with food”.) Is there something under the surface there?. Is she based on someone you know? I’m sure the movie rights have already been obtained so who gets the role? You have to think about this stuff, it’s going to be asked of you a lot now that you’re on the map. Any plans for an ass-related sequel? Oh definitely, it should be a series. What other hedge fund managers do you think have children’s books in them? He doesn’t know it yet but Jim Simons and I are going to co-write a book about a magical pack of Pall Malls. [This will be the author photo on the book jacket.] Early on in the book you mention that Mrs. Buttkiss’s husband, who has a goatee, had moved out because he was afraid of what would happen once she finally let out what she’d be holding in all these years. You say “the only one who loved her was her peekapoo Sashimi [a rare breed of dog], no ifs, ands or buts.” How much did it kill you not to finish that line off with, “Well maybe a few butts– BIG ONES”? You’re an activist investor. Do you take a seat on this grocery chain’s board? What do you think of the company? In the end they start selling fruit that someone has done unspeakable things to, at triple the normal price, which is pretty gross and possibly a scam. Have you sent copies to your investors? Gotten any feedback from them? I was speaking with one of your fellow activist investors yesterday and he mentioned that you love to sing showtunes and especially love incorporating them into your shareholder activism (exact quote: “a shareholder activist showtunes weird Al Yankovic.”). To the tune of “Any Dream Will Do,” from Joseph and the Amazing Technicolor Dreamcoat. “Any Loan will Do” I closed my eyes Far far away I did my deal No more great feast A crash of debt May I return The board and I A crash of debt The board and I I forgot to ask him if he was listening to a lot of Sir Mix A-Lot at the time this story was conceived but I’m going to assume the answer was yes. Also there’s consideration of a dramatic reading by myself and Gary Busey, if the interest is there.
Source: Dealbreaker | 8 Apr 2010 | 10:30 am HCL’s Nayar: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 8 Apr 2010 | 9:55 am Navratilova: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 8 Apr 2010 | 9:54 am Pimco’s Clarida: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 8 Apr 2010 | 9:53 am Roger Lowenstein: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 8 Apr 2010 | 9:52 am Knightley on Central Banks, Dixon on Economy: First WordSource: Bloomberg - All Podcasts | 8 Apr 2010 | 9:28 am US Airways, United Talk Merger
One decade after labor unions and the Department of Justice busted a merger attempt, United and US Airways are at it again. The two airlines have been in merger talks for several weeks. Delta and Northwest are already in the process of merging, so US Air and United are feeling the heat. The Washington Post has more: In 2008, sources had told Reuters that US Airways was in parallel talks with United and Continental Airlines Inc about a possible merger, when Delta Air Lines was merging with Northwest to create the world’s largest airline. The talks ended as United chose to pursue an alliance with Continental instead. Airline industry consultant Michael Boyd said United’s talks with US Airways might be intended to signal to Continental that they are ready to renew merger talks. “If you take a look at those two carriers, there’s a tremendous amount of overlap,” Boyd said, referring to United and US Airways. “This is likely to get Continental, which would be a better fit, out of the barn to start talking.” Speaking at (a) summit, US Airways Chief Financial Officer Derek Kerr said: “Consolidation is one of the major ways this industry can become profitable.” If consolidation is “one of the major ways” for airlines to become profitable, I shudder to think what the other ways are. $45 carry-on baggage, I bet. Consolidation also reminds me that we may one day be flying alliance airlines, like Oneworld, rather than name-brand fleets. We’re already edging closer to that.
Source: Business Pundit | 8 Apr 2010 | 7:55 am URGENT -- READ IMMEDIATELY -- FINANCIAL ISSUESBy Jacob Goldstein Robert Rubin, former Citi chairman, and Chuck Prince, former CEO are testifying to the Financial Crisis Inquiry Commission this morning. They were paid tens of millions of dollars during the boom; they'll be asked whether they bear any responsibility for Citi's catastrophic failure that led to a $45 billion bailout, Bloomberg News reports. Richard Bowen, an accountant who oversaw mortgage underwriting for Citi, sent a blaring warning to Rubin and other senior officials before things blew up. Bowen appeared before the commission yesterday, and included in his prepared testimony a copy of a 2007 email he sent to Rubin. The subject line: "URGENT -- READ IMMEDIATELY -- FINANCIAL ISSUES." The email described "breakdowns of internal controls," and explained how Citi had purchased tens of billions of dollars worth of mortgages that did not meet the company's own quality criteria. "As a professional, as well as a shareholder in this company, I am deeply distressed with having to report the above," he wrote. A Citigroup spokeswoman told Reuters that the "issues raised by Mr. Bowen were promptly and carefully reviewed when he raised them and corrective actions were taken." » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 8 Apr 2010 | 7:43 am New Tiger Woods Nike Commercial: It Sticks
Tiger, I am more prone to be inquisitive, to promote discussion. I want to find out what your thinking was, I want to find out what your feelings are, and did you learn anything? (Camera flashes reflect on Tiger’s face a couple times at the end). Watching it, you get the sense that Tiger is exposed. You don’t realize it’s just Tiger alone until the camera flashes reflect on his face. Tiger looks solemn; perhaps he’s intended to look rueful, too. The whole thing is very intimate and art house. It’s an interesting portrayal of Tiger, different from any other sports commercial out there. When I watched the spot, it didn’t provoke any empathy for Tiger. I didn’t know what it was supposed to mean. But it stuck. It made the Nike brand look more serious and edgy. And that might just be the point.
Source: Business Pundit | 8 Apr 2010 | 7:35 am The Price Of A Couch On Craigslist: The Next Great Economic IndicatorBy Jacob Goldstein City economists are coming up with new tricks to keep up with local trends, the WSJ reports. Ted Egan, an economist who works for the city of San Francisco, predicts local sales-tax revenue by looking at how many people come through the subway station in the city's main shopping district. And Egan dreams of mining Craigslist to get economic data that would be more timely and more granular that what's available now: Mr. Egan said he would like to build software to monitor Craigslist prices for furniture, concert tickets, haircuts and other goods and services to measure changes in local prices. The online classified-ads site, he said, would give a quicker and more detailed read than the bimonthly data from the Labor Department. Other new indicators: Diesel purchases by truckers as a predictor of industrial production and GDP; Google searches for "unemployment office" and "jobs"; and calls to local hotlines for help with things like food and housing. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Apr 2010 | 6:53 am When Questions Backfire
Source: Business Pundit | 8 Apr 2010 | 5:14 am
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