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Palm up for sale after failing to revive fortunesThe struggling smartphone maker Palm is searching for a buyer after its new handsets failed to revive fortunes. Source: Latest Business News from Times Online | 13 Apr 2010 | 12:41 pm Northern Rock directors fined and banned by City watchdogTwo former Northern Rock bankers, including the ex-deputy chief executive, have been fined and banned from working in the financial services industry for misreporting mortgage arrears figures. Source: Latest Business News from Times Online | 13 Apr 2010 | 5:04 am Kroenke set to buy St Louis RamsUS billionaire Stan Kroenke announces his intention to take full ownership of the NFL's St Louis Rams American football team.Source: BBC News | Business | World Edition | 13 Apr 2010 | 4:17 am Export boost narrows UK trade gapThe UK trade deficit narrowed in February, official figures show, helped by a strong rise in goods exports.Source: BBC News | Business | World Edition | 13 Apr 2010 | 4:16 am ECB policymakers give thumbs-up to Greece dealVIENNA/MADRID (Reuters) - ECB policymakers gave the thumbs-up to the euro zone's rescue package for Greece on Tuesday, as the debt-laden country passed a key test of market confidence in its ability to raise fresh funds.
Source: Reuters: Business News | 13 Apr 2010 | 4:14 am Labour lifted on sharp fall in Britain’s trade gapBritain’s trade deficit with the rest of the world shrank to its smallest gap in almost four years in February, boosting hopes of economic recovery and handing the Government an election boost. Source: Latest Business News from Times Online | 13 Apr 2010 | 4:13 am Twitter unveils advertising systemFirst paid advertisements appear on the micro-communications site as the Californian company makes its first steps towards commercialising its serviceSource: Financial Times - US homepage | 13 Apr 2010 | 4:12 am Greece sells euro1.2 billion in T-Bills (AP)
Source: Yahoo! News: Business News | 13 Apr 2010 | 4:11 am Former Northern Rock bosses finedTwo former Northern Rock directors are fined almost £650,000 by the regulator and banned from working in finance.Source: BBC News | Business | World Edition | 13 Apr 2010 | 4:11 am Greece clears key financial testGreece raises 1.56bn euros in an over-subscribed bond issue that was being seen as a key test of investor confidence.Source: BBC News | Business | World Edition | 13 Apr 2010 | 4:10 am China May Not Accomodate US On Yuan ValueA series of events in recent days is making it more unlikely that China will allow any revaluation of the yuan and increase the chance that the US will label it a “currency manipulator. China President Hu Jintao made it clear to President Obama that the People’s Republic will make its own decision on the value of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 4:10 am Stock futures point to early pullbackU.S. stock futures fell Tuesday as investors digested earnings from Alcoa and took a step back after pushing the Dow industrials above the key 11,000 level.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 4:06 am Investors trim bets as doubts over Greece resurfaceGlobal Markets Overview: A mildly disappointing start to US earnings season and a more cautious assessment of the bail-out for Greece provide an excuse for investors to pare back risky betsSource: Financial Times - US homepage | 13 Apr 2010 | 4:05 am Indications: U.S. futures sag after Alcoa reportU.S. stock futures point lower Tuesday after Alcoa kicks off earnings season with an unimpressive result.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 4:04 am U.S. judge clears Trump Entertainment revamp planInvestor Donald Trump will take as much as a 10% equity stake in the company as part of the revamp, according to reports.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 4:03 am India's Infosys quarterly profit dips (AFP)
Source: Yahoo! News: Business News | 13 Apr 2010 | 4:02 am Twitter rolls out ad planTwitter said Tuesday that it will start featuring ads on its microblogging service as part of the company's effort to turn its popularity into profit.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 4:00 am World oil demand to hit record high this year: IEALONDON (Reuters) - Global oil demand will hit a record high this year, the International Energy Agency (IEA) said on Tuesday, revising up consumption estimates as the world economy recovers from recession.
Source: Reuters: Business News | 13 Apr 2010 | 4:00 am Infosys bets on technology spend; flags currency riskBANGALORE (Reuters) - Infosys Technologies' stronger-than-expected annual sales forecast suggests a gradual recovery for India's IT services sector as global clients loosen their purse strings in an improving economy.
Source: Reuters: Business News | 13 Apr 2010 | 3:58 am Asia markets skid after Alcoa, before IntelAsian bourses are cautious ahead of Intel's earnings report. But Chinese banks pace an advance in Shanghai as concerns over credit tightening recede.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 3:48 am Mortgage applications at pre-recession levelsMortgage applications at pre-recession levels according to Countrywide.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 3:47 am Big profits, big expectationsA strong first-quarter reporting period is underway, igniting what could be a big year for corporate profit growth.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 3:44 am Mortgage lending rose by 12pc in February, says CMLMortgage approvals rose by 12pc in just one month to the end of February this year, according to figures released by the Council of Mortgage Lenders.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 3:44 am House sellers 'outnumber buyers'The property market has bounced back after the sudden slump at the start of the year, new figures show.Source: BBC News | Business | World Edition | 13 Apr 2010 | 3:41 am The White House Says Deficit Has Peaked, And May Be WrongThe White House believes that the deficit has peaked and that the shortfall for the first half of 2010 will be much less than expected. The Administration bases this on an analysis of higher tax receipts and the cost to bail out the financial system was $115 billion less than expected. Based on new figures that [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 3:40 am Huawei approached by Palm for acquisition talks: sourceSHANGHAI (Reuters) - China's Huawei Technologies has been tapped by money-losing smartphone maker Palm Inc for preliminary acquisition talks, a source familiar with the matter said.
Source: Reuters: Business News | 13 Apr 2010 | 3:35 am Oil dips for 5th day; demand to hit record high in 2010 (Reuters)
Source: Yahoo! News: Business News | 13 Apr 2010 | 3:32 am Oil dips for 5th day; demand to hit record high in 2010LONDON (Reuters) - Oil fell for a fifth straight session to below $84 on Tuesday, almost erasing April's gains, as a forecast increase in U.S. crude stocks highlighted rising supplies and weak demand in the world's largest energy consumer.
Source: Reuters: Business News | 13 Apr 2010 | 3:32 am Chinese money to open new iron ore projectsNew iron ore mining projects are seeking and finding China backers as steeply rising prices add urgency to the country’s quest to secure fresh suppliesSource: Financial Times - US homepage | 13 Apr 2010 | 3:29 am The best way to raise taxes?Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 3:25 am Telecom Italia cuts sales target, profit fallsItalian telecom posts a 28% drop in annual profit as increased competition hits revenue at its domestic mobile operations.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 3:25 am China resists pressure over yuanChinese President Hu Jintao resists calls from US President Barack Obama to revalue the Yuan, reports say.Source: BBC News | Business | World Edition | 13 Apr 2010 | 3:17 am Short Interest Shows Gamble Against TechMany tech stocks have doubled or tripled from the March market lows. Short sellers are in many cases willing to bet that ride is not over. The short interest in Micron (MU) rose 75 million shares to 63.3 million. Shares short in Intel (INTC) were up 3.1 million to 53.4 million. The short interest in Applied [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 3:10 am London Markets: Retailers gain ground in mildly lower FTSE 100Home Retail gains again in London as data show that retail sales were up in March.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 3:05 am Twitter unveils advertising plansSocial network Twitter says it will allow a limited amount of advertising on its site for the first time.Source: BBC News | Business | World Edition | 13 Apr 2010 | 3:02 am Debenhams profits surge but revamp hits salesDebenhams today posted an 18.6 per cent rise in pre-tax profits for the first six months of its financial year but reported lacklustre sales after launching a countrywide refurbishment of its department stores. Source: Latest Business News from Times Online | 13 Apr 2010 | 2:57 am Debenhams profits rise 18pc to £123.6mDepartment store Debenhams posted an 18.6pc rise in half-year profits on Tuesday and predicted stable trading ahead.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 2:54 am Asian shares fall as yearlong rally takes breather (AP)
Source: Yahoo! News: Business News | 13 Apr 2010 | 2:49 am Asian shares fall as yearlong rally takes breather (AP)
Source: Yahoo! News: Stock Markets News | 13 Apr 2010 | 2:49 am Hu tells Obama: China to make its own call on yuanBEIJING/WASHINGTON (Reuters) - China will chart its own course in reforming the yuan, President Hu Jintao told President Barack Obama, reinforcing the view that Beijing is likely to tip-toe, not leap, toward appreciation.
Source: Reuters: Business News | 13 Apr 2010 | 2:39 am Currencies: Dollar edges up in Asia but stays in tight rangeThe dollar was slightly higher in Asian trading Tuesday, but remained in a tight range against major currency rivals.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 2:39 am Why we need to fix our broker societyUK firms are forced to pay the highest underwriting fees in Europe. We look at how overcharging banking clients has become the norm.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 2:37 am Twitter To Sell AdsTwitter will start to sell ads on its 75 million member micro-blogging system, a move likely to anger some who worry about privacy and behavioral targeting of marketing messages. Members may even attack the new advertisers, making the move counter-productive The new service will be called Promoted Tweets. The first ads will come from Best Buy, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 2:36 am LVMH Moet Hennessy sales climb 11%French luxury-goods giant LVMH Moet Hennessy reported first-quarter sales climbed 11%, led by strong demand for watches, champagne and cognac.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 2:33 am Stock futures point to weaker Wall Street open (Reuters)
Source: Yahoo! News: Stock Markets News | 13 Apr 2010 | 2:30 am Stock futures point to weaker Wall Street open(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.1 to 0.3 percent, pointing to a weaker start on Wall Street on Tuesday.
Source: Reuters: Business News | 13 Apr 2010 | 2:30 am Stock futures point to weaker Wall Street open(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.1 to 0.3 percent, pointing to a weaker start on Wall Street on Tuesday.Source: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 2:30 am America’s Most Successful Second Place Companies“Never look over your shoulder. Something might be gaining on you.”–Satchel Page Jack Welsh once said that GE would sell any division of the conglomerate that was not No.1 or No.2 in its industry. It was an admission that there is profit in being in second place. 24/7 Wall St. examined many sectors to find publicly traded [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 2:28 am Twitter unveils advert Tweets in bid for profitsTwitter users are to see advertising on the site for the first time, as the microblogging service unveils a much-anticipated plan to transform itself into a profitable business. Source: Latest Business News from Times Online | 13 Apr 2010 | 2:28 am Getting a loan will be pricierAs the economy begins to mend, the cost of borrowing money for a big purchase could start to increase.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 2:06 am Alcoa posts slim profit, but sales disappointAluminum producer Alcoa Inc. posted a modest operating profit for its first quarter that met Wall Street expectations, as the Dow component became the first major company to report results for the period ended March 31.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 2:04 am Australian market pulled backThe Australian share market closed lower, back below the key 5000 point level, on profit-taking after weaker performances on markets throughout the Asian region.Some observers saying the gains that took the local bourse to a new...Source: nzherald.co.nz - Business | 13 Apr 2010 | 2:03 am Media Digest (4/13/2010) Reuters, WSJ, NYTimes, FT, BloombergReuters: The Chinese president told Obama that the nation will make its own decision on the yuan. Reuters: Growth and cheap phones were key to Q1 industry growth. Reuters: Twitter will start to sell ads. Reuters: Oil fell for a fifth session on high supply. Reuters: Infosys said it was cautious about the economic recovery. Reuters: The US deficit will be [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 1:53 am Top ex-WaMu executives come before Congress (AP)AP - Former senior executives of mortgage lender Washington Mutual, the biggest U.S. bank in history to fail, are appearing before Congress on Tuesday for the first time since the bank's September 2008 collapse.Source: Yahoo! News: Business News | 13 Apr 2010 | 1:52 am Retail stocks stand out as London shares stay neutralLingering speculation about potential bid activity energised London listed retailers on Tuesday, while wider market sentiment stayed cautious as US earnings season started. The FTSE 100 was held...Source: RSS feed - channel BNPaperBusiness | 13 Apr 2010 | 1:51 am New media recognized in Pulitzer competition (AP)
Source: Yahoo! News: Business News | 13 Apr 2010 | 1:51 am Europe Markets: Europe shares weaken after Alcoa resultsEuropean shares edged lower on Tuesday, with metal stocks declining after results from U.S. aluminium giant Alcoa missed analyst estimates and as broker downgrades added pressure.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 1:51 am Lubrizol makes offer for chemicals rival CognisUS speciality chemicals company offers to buy Germany’s Cognis, which is owned by Goldman Sachs and Permira, a deal that could value Cognis at €3bnSource: Financial Times - US homepage | 13 Apr 2010 | 1:50 am Asia Markets: China shares gain as banks up despite lending dataChinese stocks key on debate as to whether the slowdown in the nation’s pace of bank lending and foreign-exchange accumulation will force Beijing to ease up on plans to tighten monetary policy.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 1:49 am Debenhams reports rise in profitsDebenhams reports a rise in half-year profits and says it is well positioned to expand its market share.Source: BBC News | Business | World Edition | 13 Apr 2010 | 1:33 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 13 Apr 2010 | 1:31 am Business Bullet: Alcoa, China, Greece, DebenhamsThe latest news on: Alcoa, China, Greece, DebenhamsSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 1:24 am Investors trim bets as doubts over Greece resurface08:15 BST: A mildly disappointing start to the US first-quarter earnings season and a more cautious assessment of the bail-out for Greece provided the excuse for investors to pare back risky bets on Tuesday...Source: RSS feed - channel BNPaperBusiness | 13 Apr 2010 | 1:23 am Lacklustre NZ market slinks lowerThe New Zealand sharemarket eased to an unimpressive close today, failing to find inspiration in a key milestone achieved in the United States.The benchmark NZX-50 index lost 4.2 points to close at 3309.9, still hovering close...Source: nzherald.co.nz - Business | 13 Apr 2010 | 1:18 am Colfax Names Arne Forslund Senior Vice President of Europe, Middle East, Africa and AsiaSource: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 1:15 am NZ dollar fails to rise above lossesThe New Zealand dollar traded a narrow range today, having fallen overnight against the currencies of the United States and Japan as it was pulled down by a weaker Australian dollar.At 5pm, the kiwi was buying US71.27c, little...Source: nzherald.co.nz - Business | 13 Apr 2010 | 1:12 am Easter boost for UK retail salesUK retail sales jumped in March, according to the British Retail Consortium, helped by Easter shopping.Source: BBC News | Business | World Edition | 13 Apr 2010 | 1:04 am Mercury Insurance Group may face fines for overchargingAn inquiry in California alleges that the company violated state laws on how policies are priced and sold, perhaps affecting thousands of customers.Mercury Insurance Group violated state laws meant to regulate how coverage is priced and sold and, as a result, overcharged perhaps thousands of Californians for homeowner and automobile insurance, the state Department of Insurance said Monday.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am Manpower Research Finds Employers May Face Unexpected Workforce Attrition and Risk Losing Organizational KnowledgeSource: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 1:00 am An offer TV station owners can't refuse?Broadcasters fear that an FCC plan for them to give up some of their rights to the public airwaves would cost them future revenue.For decades, owning television stations, with their fat profit margins, was a license to print money.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am PHS Waterlogic Launches New Website Illustrating the Intelligent Choice for Mains Fed WatercoolersSource: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 1:00 am Airlines need an attitude adjustmentHere's what I propose: When airlines sell people a ticket, they actually sell people a ticket. If that passenger doesn't show up, that's his problem.A report out Monday found that U.S. airlines did a whole lot better last year getting passengers where they're going and not losing people's bags in the process. And maybe that's true.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am Healthcare overhaul won't stop premium increasesThe new law doesn't prevent rate hikes such as Anthem Blue Cross' double-digit increase last year. 'It is a very big loophole,' says Sen. Dianne Feinstein, who is pushing regulatory legislation.Public outrage over double-digit rate hikes for health insurance may have helped push President Obama's healthcare overhaul across the finish line, but the new law does not give regulators the power to block similar increases in the future.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am Nur Energie Joins Desertec Industrial InitiativeSource: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 1:00 am Washington Mutual created 'mortgage time bomb,' Senate panel saysThe failed bank made subprime loans it knew were likely to go bad and then packaged them into risky securities, investigators say.Before Washington Mutual collapsed in the largest bank failure in U.S. history, its executives knowingly created a "mortgage time bomb" by making subprime loans they knew were likely to go bad and then packaging them into risky securities, a congressional investigation has found.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am California Pizza Kitchen considers strategic optionsThe pizza chain may ponder a sale or merger as consumers return to dining out.With signs that patrons are returning to casual dining chains, Los Angeles-based California Pizza Kitchen Inc. confirmed Monday that it was weighing various business options that may include selling itself.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am Recession may not be over yet, panel saysThe nonprofit National Bureau of Economic Research, which officially dates turning points in the economy, says it's premature to mark the end of the contraction.The panel of economists that dates turning points in the economy is saying what many Americans have been feeling: This recession may not be over yet.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am Business BriefingCOURTS
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am Carl Icahn is poised to win some control over Take-Two InteractiveShareholders of the video-game maker best known for its Grand Theft Auto series are expected to elect representatives of the activist investor to three of its eight board seats.Take-Two Interactive Software Inc. is starting a new act.
Source: L.A. Times - Business | 13 Apr 2010 | 1:00 am Growth, cheap smartphones key in Q1 handset marketHELSINKI/SEOUL (Reuters) - Top cellphone makers are set to report accelerating market growth and booming demand for new smartphones when they unveil March quarter earnings starting this week.
Source: Reuters: Business News | 13 Apr 2010 | 12:57 am Growth, cheap smartphones key in Q1 handset marketHELSINKI/SEOUL (Reuters) - Top cellphone makers are set to report accelerating market growth and booming demand for new smartphones when they unveil March quarter earnings starting this...Source: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 12:56 am Boeing Launches 787 GoldCare Service With TUI Travel PLCSource: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 12:55 am Infosys says quarterly profit up 8.7 percent (AP)AP - Infosys Technologies Ltd., India's bellwether information technology outsourcing company, said Tuesday quarterly profit rose 8.7 percent in dollar terms as a revival in demand for services spread to European and manufacturing clients.Source: Yahoo! News: Business News | 13 Apr 2010 | 12:48 am Sinopec in $4.65bn oil investmentChina's Sinopec oil company is to pay US-based ConocoPhillips $4.65bn for a stake in a Canadian tar sands projects.Source: BBC News | Business | World Edition | 13 Apr 2010 | 12:41 am Oil falls for 5th straight session on U.S. supply glutSINGAPORE (Reuters) - Oil fell for a fifth straight session to about $84 on Tuesday, almost erasing April's gains, as a forecast increase in U.S. crude inventories fanned concern about...Source: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 12:35 am Air Charter International Experiences New Confidence in Executive Jet CharterSource: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 12:00 am Greek bail-out set to be tested by debt saleDemand for Greece's debt will be tested on Tuesday as the government sells €1.2bn euros of Treasury bills in its first offering since the EU and IMF struck a bail-out.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Apr 2010 | 11:59 pm Obama urges China’s leader on currencyGrowth in China’s foreign exchange reserves slowed dramatically in the first quarter, providing Beijing with fresh evidence in its debate with Washington over whether it intentionally undervalues the renminbiSource: Financial Times - US homepage | 12 Apr 2010 | 11:51 pm Hu tells Obama: China to make its own call on yuanBEIJING/WASHINGTON (Reuters) - China will chart its own course in reforming the yuan, President Hu Jintao said as President Barack Obama renewed his call for a more flexible Chinese...Source: RSS feed - channel BNewsBusiness | 12 Apr 2010 | 11:42 pm Money buys you a longer lifeA new study shows that there is a link between high affluence and living longer.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Apr 2010 | 11:26 pm Best credit card dealsFive ways to get the best out fo your credit card.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Apr 2010 | 11:24 pm The best credit card rewardsCredit-card companies are fighting for your loyalty with a raft of new deals.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Apr 2010 | 11:22 pm Alcoa posts loss, but matches Wall St estimatesNEW YORK (Reuters) - Aluminum producer Alcoa Inc on Monday posted its fifth net loss in the past six quarters, but when charges were excluded its results matched Wall Street estimates.
Source: Reuters: Business News | 12 Apr 2010 | 10:47 pm Indian economy set to accelerate in 2010: ADB (AFP)
Source: Yahoo! News: Business News | 12 Apr 2010 | 10:43 pm Zale among wave of jewelers opposed to Alaska mine (AP)AP - The nation's second-largest jewelry retailer on Tuesday joined the opposition to a gold and copper mine being developed in southwest Alaska near the world's largest remaining wild sockeye salmon streams.Source: Yahoo! News: Business News | 12 Apr 2010 | 10:16 pm Homeowners making sacrifices in tough economy (AP)AP - More than two thirds of Americans who've been unable to sell their home and buy one that better fits their needs have cut back on household expenses such as food, entertainment and clothing in order to pay their mortgage, a survey released Tuesday shows.Source: Yahoo! News: Business News | 12 Apr 2010 | 10:02 pm How to Prepare in Case of an AuditVIDEO: Audits of top earners are rising. Here are a few planning tips.
Source: SmartMoney.com | 12 Apr 2010 | 10:00 pm 3 Firms Forecast to Lift Dividends, Buybacks (Screens)Hough: A report on cash-in-hand predicts these stocks may pop.
Source: SmartMoney.com | 12 Apr 2010 | 10:00 pm Tax Tips: The Benefits of Refinancing (Tax Tips)If you refinanced your mortgage, make sure you get all your tax breaks.
Source: SmartMoney.com | 12 Apr 2010 | 10:00 pm What Should I Do With My Tax Refund? (Deal of the Day)Retailers are trying to tempt taxpayers with April 15 offers, but be wary.
Source: SmartMoney.com | 12 Apr 2010 | 10:00 pm The Cost of Credit-Card Peace of Mind (Card Sharp)New antifraud programs help issuers cut costs, but do they help you?
Source: SmartMoney.com | 12 Apr 2010 | 10:00 pm Tactics for Growing With the GreenbackThe pros are devising some fresh ways to play a stronger U.S. dollar.
Source: SmartMoney.com | 12 Apr 2010 | 10:00 pm Accentuating the Positive, at LastRetail investors are finally warming up to U.S. stocks.
Source: SmartMoney.com | 12 Apr 2010 | 10:00 pm Trump, bondholders win Atlantic City casinosNEW YORK (Reuters) - Real estate mogul Donald Trump and a group of bondholders won control of the three Atlantic City casinos of Trump Entertainment Resorts Inc , a bankruptcy court judge ruled on Monday.
Source: Reuters: Business News | 12 Apr 2010 | 9:21 pm Economic risks remain, says D&BNew Zealand's economic outlook has improved this year, but a swifter recovery for other nations could put the country's growth at risk, credit agency Dun and Bradstreet said.New Zealand's economy is still forecast to grow by 1.8...Source: nzherald.co.nz - Business | 12 Apr 2010 | 8:45 pm Newspapers on rebound, says publisherNewspapers are on the rebound, says publisher Michael Muir in an upbeat assessment of the New Zealand media market."Our circulations and readerships are largely stable, advertising is picking up again and we are on the verge of...Source: nzherald.co.nz - Business | 12 Apr 2010 | 8:00 pm Japan confident recovery can bear tax risesJapan's yawning fiscal deficit could be tackled through higher taxes without undermining the economy's fragile recovery, Naoto Kan, the finance minister, said on Monday. The comments from Mr Kan,...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 7:46 pm Survey shows migrants are good workers - ministerEighty-seven per cent of employers who responded to a Department of Labour survey rated their migrant employees as good or very good workers.The survey, completed late last year, questioned 424 employers who had had contact with...Source: nzherald.co.nz - Business | 12 Apr 2010 | 7:22 pm Opus on lookout for acquisitionsInfrastructure services company Opus International Consultants is on the lookout for acquisitions after confronting the challenges of the global financial crisis last year."We have reactivated our acquisition strategy with vigour...Source: nzherald.co.nz - Business | 12 Apr 2010 | 6:43 pm Card spending shows sharp riseRetail spending using electronic cards was at its highest monthly level in almost two-and-a-half-years during March, as petrol prices climbed to a 17-month high.Total spending charged to credit or debit cards edged 1.2 per cent...Source: nzherald.co.nz - Business | 12 Apr 2010 | 6:35 pm California helps short-line railroad go greenA $6.7-million state grant enables the Modesto & Empire Traction Co., which serves a 2,000-acre industrial district in Modesto, to replace its aging locomotives with five low-polluting ones.The Modesto & Empire Traction Co. is being called the "greenest" short-line railroad in North America.
Source: L.A. Times - Business | 12 Apr 2010 | 6:28 pm AIG ‘strongly objects’ to pay restrictionsRobert Benmosche received $2.7m in cash and shares for five months at the helm of AIG in 2009, the insurer revealed in a filing that criticised the US government, its biggest shareholder, for keeping a lid on paySource: Financial Times - US homepage | 12 Apr 2010 | 6:23 pm Labour’s business policy founders on Northern RockDoes yesterday’s manifesto put the New back into Labour or does it represent a return to newly fashionable old-style interventionism? Source: Latest Business News from Times Online | 12 Apr 2010 | 6:01 pm BBC considers sale of Radio TimesThe BBC is considering selling Radio Times, its listings bulletin, as part of a shake-up of the magazines division of BBC Worldwide, the corporation’s commercial arm. Source: Latest Business News from Times Online | 12 Apr 2010 | 6:01 pm President Barack Obama’s finance reforms ‘the most important in generations’US Government officials have described President Obama’s financial reforms as the most important in generations in preparation for a crucial meeting at the White House. Source: Latest Business News from Times Online | 12 Apr 2010 | 6:01 pm Early Easter gives retail sales a chocolate rushRetail sales surged at the fastest rate in nearly four years as shoppers took advantage of supermarket price wars to stock up on chocolate and roasting joints for the Easter weekend. Source: Latest Business News from Times Online | 12 Apr 2010 | 6:01 pm Pre-election nerves put housebuyers offPre-election jitters are beginning to affect homebuyers, according to estate agents, who reported a fall in sales last month and the slowest price growth since July 2009. Source: Latest Business News from Times Online | 12 Apr 2010 | 6:01 pm Fewer UK fans expected for RWC 2011Strains of Swing Low, Sweet Chariot could be heard in venues across the country when Lions fans last followed their team to our shores in 2005.More than 20,000 fans packed out venues across New Zealand to watch their team suffer...Source: nzherald.co.nz - Business | 12 Apr 2010 | 6:00 pm GMAC sells European arm to FortressGMAC, the struggling auto and home lender, took a big step toward clearing its books of troubled loans when it agreed to sell its $12bn European mortgage business to Fortress Investment GroupSource: Financial Times - US homepage | 12 Apr 2010 | 5:33 pm WaMu risky loans 'riddled' with fraudWashington Mutual ramped up sales of high-risk mortgages to investors in the years before its collapse even though internal reports showed many of the loans were tainted by fraud, according to a congressional...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 5:28 pm WaMu risky loans ‘riddled’ with fraudWashington Mutual ramped up sales of high-risk mortgages to investors in the years before its collapse even though internal reports showed many of the loans were tainted by fraud, according to a congressional investigation into the bank’s failureSource: Financial Times - US homepage | 12 Apr 2010 | 5:28 pm Carlyle raises $2.5bn for buy-out fundThe Carlyle Group has raised $2.55bn for its third Asian buy-out fund, underlining investor interest in emerging marketsSource: Financial Times - US homepage | 12 Apr 2010 | 5:20 pm Fed loses second top official this yearBrian Madigan, the top Federal Reserve staff member on monetary policy, will become the second senior official to leave the US central bank this year as the economic recovery gathers strength. ...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 5:17 pm NYSE short interest down, Nasdaq up late March (Reuters)Reuters - Short interest on the New York Stock Exchange fell at the end of March, while bearish bets on the Nasdaq rose in the same period, suggesting investors remain wary of making large bets against the market rally.Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 5:12 pm Source: Judge Sidney Thomas on Supreme Court list (AP)
Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 5:09 pm Wall St finishes on 18-month highThe Dow Jones industrial average has closed above 11,000 for the first time in a year and a half on investors' rising hopes about the economy.The Dow edged up about 9 points this morning to almost 11,006. The Standard & Poor's...Source: nzherald.co.nz - Business | 12 Apr 2010 | 5:00 pm General Election 2010: Tory plans to curb economic migrants 'will damage Britain'Britain's standing on the global financial stage would be damaged by Conservative plans to curb economic migrants, business leaders warn.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Apr 2010 | 4:54 pm Dow ends above 11,000 for first time in 18 months (AP)
Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 4:44 pm The Last Time The Dow Closed Above 11,000A few loose ends to round out the day: "It is obvious that the recession is over," economist Robert J. Gordon writes on the WSJ's Real Time Economics blog. Gordon is one of the members of that committee that recently decided it's too soon to call an end to the recession. But Gordon disagrees with his fellow committee members (and with those of you who voted in our recession poll.) GDP is rising, and the "economy is enjoying strong upward momentum that is evident every day in the announcements of retail sales, service sector production, and almost everything else," he writes. The Dow Jones Industrial average closed above 11,000 today for the first time since September 28, 2008. That was the day before the House blocked a bank bailout bill and the Dow fell by 777 points. Listen to our Sept. 29, 2008 podcast to hear how things sounded at the time. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Apr 2010 | 4:30 pm Jobless one step closer to regaining benefitsThe Senate took the first step Monday to extend the deadline for the jobless to file for unemployment insurance.Source: Business and financial news - CNNMoney.com | 12 Apr 2010 | 4:28 pm Write-Offs: 04.12.10$$$ Morgan Stanley Must “Execute” [WSJ] $$$ Cuomo Says Hank Greenberg Denials ‘Incredible, Irrelevant‘ [BW] $$$ Christopher Walken Vividly Remembers Having His Diapers Changed [Daily Intel] $$$ This Anti-Wall Street Film Isn’t Just for Michael Moore Fans [WSJ] 
Source: Dealbreaker | 12 Apr 2010 | 4:15 pm Summary Box: Dow industrials close above 11,000 (AP)AP - DOW MILESTONE: After briefly touching 11,000 Friday, the Dow Jones industrials edged higher Monday to close above 11,000 for the first time since September 2008.Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 4:14 pm How the major stock indexes fared on Monday (AP)AP - The Dow Jones industrial average closed just above 11,000 for the first time in a year and a half Monday on rising hopes about the economy. The Standard & Poor's 500 index came within a point of hitting its own milestone of 1,200 during trading but closed just short of that mark.Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 3:52 pm Dow closes above 11,000 for first time in 18 months (AFP)
Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 3:51 pm Britain is arguing about the pastOn one thing Gordon Brown and David Cameron profess to agree on: Britain's general election is about the future. The trouble is that even as the prime minister and the Tory leader unveil their...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 3:33 pm Sugar rebounds on signs of fresh demandSugar stood out among commodity futures markets on Monday, bouncing sharply higher on signs of fresh demand. Liffe white sugar for May delivery rose 5.4 per cent to $527.40 a tonne. ICE May raw...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 3:30 pm More Insider Trading Charges Coming for Rajaratnam
In a court filing on Friday, lawyers for Rajaratnam cite a letter written by prosecutors in late March saying they intend to “offer evidence on dozens of previously unidentified stocks and co-conspirators on the counts alleged against only one of the defendants.” The letter is attached as an exhibit to the filing, in which Rajaratnam’s lawyers argue his case should be separated from that of his alleged co-conspirator Danielle Chiesi. The duo originally appealed to the judge for separate trials about a month ago. Among the additional companies identified by the government is Goldman Sachs, according to the letter. Prosecutors said they are focusing on trades in Goldman shares between June and October of 2008, just as the financial crisis was in full swing and Lloyd & Co. was negotiating a deal to sell $5 billion in preferred stock to Warren Buffett. There’s no suggestion in the document that anyone at Goldman tipped Raj off to the pending deal, but prosecutors said their investigation is ongoing and they fully anticipate it “will lead to further evidence related to the charged crimes, including identification of additional uncharged co-conspirators.” Another company previously unidentified by prosecutors is @Road, a tech firm that Galleon had a large stake in before shutting down amid the insider trading allegations. The government said its probe focuses on trades made in @Road around December 2006, the same month the company announced a deal to be acquired by another tech company called Trimble. Interestingly, Krish Panu, who was the president and CEO of @Road at the time of the merger, also worked at Galleon and has been accused by the government of tipping off Rajaratnam about merger negotiations between PeopleSupport, an outsourcing company, and Essar Group of India. Panu, at the time, served as a director on the PeopleSupport board. He has not been charged criminally. After Raj was arrested in October of 2008, Panu resigned from the board of Concurrent Computer Corp., another computer company and appears to have stepped down from the Trimble board as well. Meanwhile, the SEC on Monday urged U.S. District Judge Jed Rakoff to approve its $763,000 settlement with Schottenfeld Group, a trading firm that employed several traders ensnared in the Galleon insider trading ring.
Source: Dealbreaker | 12 Apr 2010 | 3:28 pm Palm shares soar on reports company looking for a buyer (AFP)
Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 3:27 pm TSX eases from 18-month high to end lower (Reuters)Reuters - Toronto's main stock index ended down slightly on Monday, pulling back from an 18-month high as initial optimism over a Greek debt deal faded, while retreating metal prices pulled down mining issues.Source: Yahoo! News: Stock Markets News | 12 Apr 2010 | 3:20 pm Euro rallies as Greek rescue is agreedThe euro rallied against the dollar on Monday after eurozone leaders agreed on a rescue package for Greece at the weekend in a bid to resolve the country's debt crisis. But analysts warned the...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 3:19 pm Earnings Previews, Options, Oil and Gas M&As: Taking StockSource: Bloomberg - All Podcasts | 12 Apr 2010 | 3:15 pm Vikram Pandit: Wine Connoisseur
Please tell me he made a big show of swishing it around in his mouth, inhaling it with his eyes closed, sending back the first bottle and backhanding the idiot waiter. Please tell me all that. Book Excerpt: Roger Lowenstein’s “The End of Wall Street” [BusinessWeek]
Source: Dealbreaker | 12 Apr 2010 | 3:13 pm Presented By:Source: Dealbreaker | 12 Apr 2010 | 3:13 pm Cool new smartphones your kid will wantMicrosoft unveiled two new smartphones Monday that will be available on the Verizon network in May.Source: Business and financial news - CNNMoney.com | 12 Apr 2010 | 3:11 pm Twitter CEO sells loft for $250,000 lossLast fall, Twitter CEO Evan Williams tweeted "Buy my loft...It's a steal!" at the asking price of $1.5 million. The listing went viral, and a buyer recently scored the San Francisco penthouse ... for $1.25 million.Source: Business and financial news - CNNMoney.com | 12 Apr 2010 | 3:00 pm She's 91 - and still teaches yogaRetirement? Forget about it. These seniors keep working into their 90s, and some of them keep showing up at the office after they hit 100.Source: Business and financial news - CNNMoney.com | 12 Apr 2010 | 2:55 pm Dow hits 11,000 ahead of earnings seasonThe Dow Jones Industrial Average on Monday closed above 11,000 for the first time since late September 2008, with the other main indices also recording modest gains. Investors mostly shrugged off...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 2:54 pm Alcoa Starts Earnings Season Off With Confusion (AA)Alcoa, Inc. (NYSE: AA) is a stock that traders and investors alike try to use as a proxy for earnings season for the market as a whole and for the metals sector. Sometimes it cooperates, sometimes not. Either way, it is the first DJIA component and the first major industrial player to report each earnings [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Apr 2010 | 2:27 pm Greek bonds and euro rebound on rescue21:20 BST: Greek bonds and the euro rebounded on Monday as investors welcomed news of a 30bn discount loan deal for Greece. However, gold touched its best levels for 2010 in Asian trading as some...Source: RSS feed - channel BNPaperBusiness | 12 Apr 2010 | 2:27 pm Ashley Dupré Is “Very Good” At The Sex
Ashley Dupré, Unwrapped [NYM]
Source: Dealbreaker | 12 Apr 2010 | 1:47 pm Which Schools Cut Financial Aid When Their Endowments Fall?By Jacob Goldstein University endowments have soared during the past few decades, but they got hit hard during the dot com bust and the financial crisis. A group of economists wanted to know how schools deal with this boom-and-bust endowment economy. Among the questions they asked: What happens to financial aid after a school's endowment goes way down? As it turns out, the most elite schools cut aid, while less selective schools did not. What's more, when endowments rose, the less selective schools increased financial aid to freshmen. The most selective schools didn't do that. As the authors write in their working paper: ...less selective universities appear to cushion their students from financial shocks to the endowment -- they pass along financial windfalls to their student population by increasing financial aid but do not cut that financial aid in response to negative shocks. More selective universities, on the other hand, do the opposite: they cut student financial aid immediately following financial turmoil to the endowment but do not share positive shocks to the endowment with their students ... How can the less selective schools afford to keep financial aid up when their endowments go down? They cut back on tenured faculty. More selective schools don't tend to do that, the authors say. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Apr 2010 | 1:40 pm Strossen Discusses Next Supreme Court Appointment: BLAWSource: Bloomberg - All Podcasts | 12 Apr 2010 | 1:38 pm Summer 2010: Big Hurricanes, High Oil PricesIn 2009, there were just three Atlantic storms that earned the hurricane monikers — Bill, Fred, and Ida. None of these storms made landfall in the US as hurricanes. The predictions from Colorado State University researchers are not so sanguine for 2010. They forecast eight hurricanes in the Atlantic Basin in 2010, four of which could [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Apr 2010 | 1:30 pm Federal Debt Now $12.7 Billion, Nearing Statutory LimitThe Treasury Department released the statement of public debt as of March 31. According to the release, the national debt stood at $12.7 trillion. The statutory limit for public debt is set at $14.3 trillion, so the buffer is down to $1.6 trillion. The Treasury’s report on the March deficit showed a shortfall of $65 billion [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Apr 2010 | 1:29 pm SPDR Gold ETF Holdings Climb to Record Level (Correct)Source: Bloomberg - All Podcasts | 12 Apr 2010 | 1:24 pm Artists find solutions for rising currentsMuseum of Modern Art curator Barry Bergdoll talks with Kai Ryssdal about an exhibition called "Rising Currents," where big-thinking architects and artists offer solutions to the problems caused by the sea level rising in New York City.Source: Marketplace | 12 Apr 2010 | 1:24 pm Nielsen reports on 4th screen audienceSmall TV screens broadcasting news and ads have become ubiquitous at the gym, grocery stores, even elevators at work. Now the company behind TV ratings has released its first report on how big audiences are for these little screens. Caitlan Carroll reports.Source: Marketplace | 12 Apr 2010 | 1:24 pm Truckers carry costs of getting cleanerThe trucking industry is suing the Port of Los Angeles over a program to clean up trucks. The case could affect cargo and trucking industries all over the U.S. Sarah Gardner reports.Source: Marketplace | 12 Apr 2010 | 1:23 pm NYC spending makes some nervousA park off lower Manhattan was supposed to be jointly managed by the state and New York City. Now the city has stepped up to take over the state's share even though it's not so well off either. Alisa Roth reports.Source: Marketplace | 12 Apr 2010 | 1:22 pm GAO: Postal Service must cut even moreThe Government Accountability Office has looked at the U.S. Postal Service's finances and concluded that it has to do a lot more than just cut its mail deliveries. Otherwise it risks growing losses. John Dimsdale reports.Source: Marketplace | 12 Apr 2010 | 1:22 pm Is revised TARP price tag accurate?The Treasury Department says TARP, the bank bailout, is going to cost $115 billion less than previously estimated. That's because many banks have repaid their TARP funds with interest. But Brett Neely reports that's not counting all the costs.Source: Marketplace | 12 Apr 2010 | 1:22 pm How Greece got into a financial messGreece's European partners have agreed to a package of loans to protect the Greek government from default -- $41 billion are on offer with another $20 billion from the IMF. But will yet more debt help solve the debt problem? Stephen Beard reports.Source: Marketplace | 12 Apr 2010 | 1:21 pm Derrick Coleman Owes Creditors $4.7 Million, Has Chinchilla Fur Coats, Chevy Nova
But! I think it’s going to be okay here because Coleman is planning to liquidate his assets and oh does he have some assets to get amped about.
Ex-NBA Star Derrick Coleman Files For Bankruptcy [WSJ]
Source: Dealbreaker | 12 Apr 2010 | 1:03 pm A CNBC Employee Is Going To Eat Four KFC Double Down Sandos On Wednesday THE CHICKEN IS THE BUN! Let it be known that while admirable, this does not count for the eating challenge (the only way that’s a challenge is if one of you does for in four minutes). As you were.
Source: Dealbreaker | 12 Apr 2010 | 12:45 pm Google to Develop Android-Based Tablet Computer
Google has confirmed rumors that it will develop an Android-based tablet computer, according to Mashable : Although Google is yet to publicly announce such a device, many signs point to its likely launch. For starters, Google has been rumored to be developing a slate device with HTC – the same company it brought Nexus One to market with – since January. Moreover, the company has already announced plans for an e-book store expected to launch within the next few months. It’s also clear that Google has plans for Android that go way beyond phones. There’s already an Android-powered car on the way, as well as plans for what’s being called “Google TV.” While Chrome OS for netbooks is also expected by year-end (and there are rumored Chrome tablets too), an Android tablet now seems imminent. Google has yet to announce this development to the public. For all intents and purposes, this is still a rumor. But it would be an interesting move, and not out of line with Google’s latest forays into mobile devices–and habit of riding Apple’s coattails.
Source: Business Pundit | 12 Apr 2010 | 12:40 pm Ruling calls for abolition of Thai PM’s partyAn electoral commission has passed its recommendations to the attorney-general’s office, which will either reject them or refer them to the constitutional court in what could be an accelerated processSource: Financial Times - US homepage | 12 Apr 2010 | 12:15 pm Will Bill Ackman Revive His Target Fight?
At the time, Pershing Square IV, the Target-focused fund Ackman collected $2 billion for, had lost almost 90 percent of its value. The losses prompted Ackman to “apologize profusely” to investors in the fund and declare the losses “one of the greatest disappointments of my career to date.” Pershing also restructured PSIV, cutting fees and letting some investors out early. Fast forward a year and PSIV is now up 175 percent since the restructuring, according to an investor in the fund (although it’s still down since its inception in the summer of 2007.) Ackman has also scored big on the mall owner General Growth Properties, chalking up absurd returns of over 20 time his original investment despite criticism of his position from other hedge fund managers. With Target’s annual shareholder meeting about a month away, we’re wondering whether a newly-emboldened Ackman will revive his boardroom brawl. Pershing isn’t saying either way but we know Target is gearing up for another fight just in case. Pershing Square still owned 21 million shares or 2.8 percent of the company at the end of 2009, according to its latest SEC filing. In Ackman’s third-quarter investor letter, he pledged to hold the position in Target, which he still believed was undervalued. Still, at the time he issued the letter, Target shares were trading $10 less than where they are now.
Source: Dealbreaker | 12 Apr 2010 | 12:11 pm Microsoft Launches KIN Smartphone, Stock Up $.01Microsoft (MSFT) launched its new KIN handsets today. The description in the press release made it almost impossible to understand how the smartphone works and what its market might be. One thing that Redmond did push is that the phone works with the failed Zune store. Consumers who buy the handset can go to the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Apr 2010 | 11:55 am Have We Identified The Next Food Eating Challenge?THE CHICKEN IS THE BUN! I believe the answer is yes, and it’s this, the Paul Tudor Jones-approved KFC Double Down Sandwich. (Description: “This one-of-a-kind sandwich features two thick and juicy boneless white meat chicken filets, two pieces of bacon, two melted slices of Monterey Jack and pepper jack cheese and Colonel’s Sauce. This product is so meaty, there’s no room for a bun!”). But, obviously some details need to be ironed out. Should this be a one on one challenge, whoever eats the most in a set period of time? Should it be man v. chicken, a certain number of sandwiches with or without time limit? And who will be the first to take up this challenge? I’m working on securing PTJ or Oyster Boy (he’s gotta eat lunch anyway) but in the event neither are available, someone needs to be a hero.
Source: Dealbreaker | 12 Apr 2010 | 11:45 am Sage Group Raised to `Buy,’ Lukoil Cut to `Neutral’: AudioSource: Bloomberg - All Podcasts | 12 Apr 2010 | 11:39 am Albright, Obama and Medvedev, Giethner: Political CapitalSource: Bloomberg - All Podcasts | 12 Apr 2010 | 10:46 am Dick Bové Took A Philosophy Seminar Freshman YearAnd she’s going to work it into this report about Bank America’s need to be broken up whether you like it or not, god damn it. (It’s not as random and unnecessary as it might seem– the coed’s Philosophy 101 professor was a dead ringer for Brian Moynihan and, oh, the stories she could tell you about some very special office hours. Another time.)
4.8 BAC Bove [PDF]
Source: Dealbreaker | 12 Apr 2010 | 10:45 am Morgan Stanley’s Roach Discusses Greece, China: First WordSource: Bloomberg - All Podcasts | 12 Apr 2010 | 10:25 am Mirant Corp. Takes Over RRI
Energy company Mirant Corp. is buying RRI Energy (formerly Reliant). The merger, which combines two major natural gas, oil, and coal electricity companies, will create one of the biggest power producers in the US. Reuters reports: Weak power margins and the sluggish U.S. economy have hurt the companies over the past 18 months, and analysts at Macquarie Equities Research said the move was a “survival strategy.” “Given that both companies have strong balance sheets, the upside should be derived entirely from cost savings,” the analysts wrote in a note to investors. The companies have estimated the cost savings of the link-up would reach $150 million. The companies said on Sunday they will combine to create GenOn Energy, a new company with value of around $3 billion. After the all-stock, tax-free transaction, Mirant shareholders will own about 54 percent of GenOn’s equity, while RRI’s shareholders will own about 46 percent. “GenOn Energy will have a pro-forma market capitalization of $3.1 billion and 24,700 megawatts of generating capability,” according to MarketWatch. The recession forced down power prices and profit margins, but electricity demand is expected to pick up this year, writes BusinessWeek. The merger comes at a good time.
Source: Business Pundit | 12 Apr 2010 | 9:29 am Palm Inc. Up for Sale
Palm Inc. is actively looking for a buyer. The company is struggling in the wake of plummeting sales and stock prices. Bloomberg reports: Palm may burn $80 million every three months for the next five quarters as competition in the smartphone market intensifies, Berenberg Bank analysts including Adnaan Ahmad wrote in a March 25 report. The company held $592 million in cash and short-term investments at the end of its fiscal third- quarter, according to the report. The company is working with Goldman Sachs Group Inc. and Frank Quattrone’s Qatalyst Partners to find a buyer, said the people, who declined to be identified because a sale hasn’t been announced. Taiwan’s HTC Corp. and China’s Lenovo Group Ltd. have looked at the company and may make offers, said the people. “Palm still has quite a good brand in the U.S. market, and some strong technology, so you can do something with it,” said Frank He, a technology analyst at BOC International Holdings Ltd. in Hong Kong. “The shares have gone down a lot and the company may become attractive to anyone looking for a turnaround play.” Even if the Palm brand, handsets, and WebOS don’t survive the sale, Palm’s patents could make everything worthwhile. HTC, which faces 20 patent infringement charges from Apple, might be the ideal buyer. From Gizmodo (via CNET):
Source: Business Pundit | 12 Apr 2010 | 9:06 am Is The Recession Over?By Jacob Goldstein There's actually a group of economists that gets together and decides, officially, whether the U.S. is in a recession. And that group just decided it's too soon to say whether the recession has ended. The NBER's Business Cycle Dating Committee says: Although most indicators have turned up, the committee decided that the determination of the trough date on the basis of current data would be premature. Many indicators are quite preliminary at this time and will be revised in coming months. A "trough date" is the moment when the economy stops falling and starts climbing again. So what the NBER is saying is the recession may be over, but they can't say for sure. Our colleagues over at The Two Way are putting the question to a popular vote: Do you think the recession is over?survey software Here's more on the question from the AP and the New York Times. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 12 Apr 2010 | 8:28 am What The Greek Bailout Does (And What It Doesn't Do)By Jacob Goldstein Weekend bailout news: European nations offered to lend Greece $40 billion at 5% interest for three years. The news is significant because European leaders have until now been somewhat vague about what they would do to bail out Greece. But the promise still leaves Greece with some big problems. The money won't be enough to cover Greece's borrowing needs for the year. The country needs to raise about $48 billion, the FT says; the Economist says the country may need to raise more than $60 billion this year. The IMF would step in to lend the country some $20 billion, if needed, at rates that could be below 3%, the WSJ says. The IMF typically lends to countries in the developing world, and until a few months ago the idea of a Euro-zone country getting an IMF bailout seemed wildly unlikely. The short-term bailout money is just the first step, though. To get itself out of the fiscal hole, Greece has to both cut government spending to lower deficits, and get its economy growing again. It's very tough to do both of those things at the same time. "The real issue will be whether Greece can regenerate growth while cutting the fiscal deficit," a Goldman economist said in a note cited by Bloomberg News. "Without growth, the debt is only sustainable if someone will finance them at much less than 5 percent" for at least a decade. "The exact interest rate charged on the bailout package is a bit of a red herring." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Apr 2010 | 7:58 am Twitter’s Great Great Grandfather
Image: Modern Mechanix
Source: Business Pundit | 12 Apr 2010 | 5:29 am
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