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Brown admits failure to crack down on banksGordon Brown has admitted that he should have done more to crack down on banks’ risky lending practices over a decade ago when he was Chancellor. Source: Latest Business News from Times Online | 14 Apr 2010 | 4:23 am The $3,000 Laptop No One NeedsApple Inc’s (NASDAQ: AAPL) new Macbook Pro can cost as much as with a 17 inch monitor can costs $1,799. That is not with a number of additions that can push the price to over $2,000. The computer uses Intel Corporation’s (NASDAQ: INTC) new quad core i5 chip. The chip allows users to have a super fast product that [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Apr 2010 | 4:19 am Fujitsu defends 'crime' sackingFujitsu has defended its actions in a row with the IT firm's former president about his alleged links to organised crimeSource: BBC News | Business | World Edition | 14 Apr 2010 | 4:14 am Wall Street ramps up hiring as profits rebound (AP)AP - Wall Street is hiring again.Source: Yahoo! News: Stock Markets News | 14 Apr 2010 | 4:14 am Intel earnings give world markets a boost (AP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 4:12 am Intel earnings give world markets a boost (AP)
Source: Yahoo! News: Stock Markets News | 14 Apr 2010 | 4:12 am Charges Of Racial Discrimination In Census HiringSeveral groups have sued the The U.S. Census Bureau for discriminating as it hires workers for the 2010 survey. According to The Wall Street Journal, “In the suit, job applicants claimed the Census Bureau was unlawfully screening out minorities by requiring all applicants to provide court documents related to an arrest, whether or not it resulted [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Apr 2010 | 4:03 am Indications: U.S. stock futures higher after Intel's reportU.S. stock futures point to opening gains Wednesday as earnings from J.P. Morgan Chase and a host of economic data await.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 3:54 am Options open for Arsenal investorAlisher Usmanov, one of Arsenal's largest shareholders, refuses to rule in or out a takeover of the club.Source: BBC News | Business | World Edition | 14 Apr 2010 | 3:53 am UBS chief apologises for bank's role in tax evasion (AFP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 3:44 am 10 foreclosures for every home savedThe Obama administration's mortgage-modification program is not keeping pace with the deluge of foreclosures hitting the market, a government watchdog found.Source: Business and financial news - CNNMoney.com | 14 Apr 2010 | 3:42 am Eliot Spitzer's rough justiceThe former New York governor recently spoke with Fortune editor-at-large Peter Elkind about politics, family, Wall Street, and how he thinks the Obama administration has bungled regulatory reform. Questions and answers have been edited for space.Source: Business and financial news - CNNMoney.com | 14 Apr 2010 | 3:39 am The 300 Billion Euro Greek ProblemGreece will have to raise 12 billion euros in the next two months to relieve its sovereign debt obligations and cover deficits. That is a relatively small part of the 54 billion euros it will need to raise in 2010. A backstop 30 billion euro ”guarantee” from other nations in the European Union should help Greece to raise the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Apr 2010 | 3:37 am $70m bonus for Oleg DeripaskaRusal chief executive Oleg Deripaska will get a bonus of $70.3m (£45.5m), the world's biggest aluminium producer says.Source: BBC News | Business | World Edition | 14 Apr 2010 | 3:33 am Treasury seeks to protect federal benefits: report(Reuters) - The Treasury department will release new rules on Wednesday that would prevent banks from seizing a borrower's social security to recover unpaid debt, the Wall Street Journal said.
Source: Reuters: Business News | 14 Apr 2010 | 3:21 am TARP Oversight Panel Say Obama Mortgage Program IneffectiveThe Congressional Oversight Panel that keeps track of the TARP has a message for the Administration: The home loan modification program is moving so slowly that it cannot come close to matching the rate at which mortgages fall into default. In its April report, the body said that Home Affordable Modification Program was not working. “Treasury’s response [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Apr 2010 | 3:15 am Toyota suspends sales of Lexus SUV (AFP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 3:13 am Oil rebounds before US energy report (AFP)
Source: Yahoo! News: Stock Markets News | 14 Apr 2010 | 3:11 am Wall Street futures signal gains on upbeat Intel results (Reuters)
Source: Yahoo! News: Stock Markets News | 14 Apr 2010 | 3:10 am Wall Street futures signal gains on upbeat Intel results(Reuters) - Stocks futures rose on Wednesday, pointing to a higher start for Wall Street after the world's top chipmaker Intel Corp posted better-than-expected first-quarter results and gave an outlook that topped Wall Street forecasts.
Source: Reuters: Business News | 14 Apr 2010 | 3:10 am Stocks set to open higherU.S. stocks were set to move higher at Wednesday's open, as investors expressed cautious optimism about corporate earnings and awaited a batch of economic reports.Source: Business and financial news - CNNMoney.com | 14 Apr 2010 | 3:09 am Asian growth adds to positive moodGlobal Markets Overview: Shares advance to fresh 18-month highs as data from Singapore and Korea, and better than forecast results from Intel, boost risk appetiteSource: Financial Times - US homepage | 14 Apr 2010 | 3:08 am Cash is being 'replaced by cards'Cash payments will account for less than half of all transactions in five years' time, according to research.Source: BBC News | Business | World Edition | 14 Apr 2010 | 3:07 am London Markets: Commodity firms help U.K. shares to advanceGains from mining and oil companies helped buoy the top British share index on Wednesday, with both sectors getting a lift from higher commodity prices.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 3:05 am UK's Prudential names Devey to lead Asia integration (Reuters)Reuters - Britain's Prudential has appointed Rob Devey, currently head of UK and Europe, to lead the integration of its Asian operations and the Asian arm of rival AIG , after the sector's biggest acquisition.Source: Yahoo! News: Business News | 14 Apr 2010 | 3:02 am UK's Prudential names Devey to lead Asia integrationLONDON (Reuters) - Britain's Prudential has appointed Rob Devey, currently head of UK and Europe, to lead the integration of its Asian operations and the Asian arm of rival AIG , after the sector's biggest acquisition.
Source: Reuters: Business News | 14 Apr 2010 | 3:02 am Euro rises on risk-taking (AFP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 2:56 am Capitol Report: Skepticism over euro alive and well in D.C.Skepticism over the euro zone remains strong in Washington as recent political back-and-forth in Europe over a possible rescue package for Greece has created more concern than comfort.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 2:56 am Wine outstrips shares as investors get the taste for liquid assetsTop-notch wine has withstood two US recessions and beaten a benchmark shares index over the past 13 years, according to Swiss-based economists.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Apr 2010 | 2:55 am Currencies: Dollar slips vs. most rivals in Asian tradingThe dollar slipped against most major rivals in Asia on Wednesday.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 2:54 am European stocks rise at open (AFP)
Source: Yahoo! News: Stock Markets News | 14 Apr 2010 | 2:48 am U.K. Election: TV debates break domestic groundWhen it comes to televised electoral debates, British politicians have deliberately had faces for radio.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 2:46 am Oil rebounds, stays above $84 (AFP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 2:43 am ASML swings to profit, sees prolonged upturnDutch chip-equipment maker swings to a first-quarter profit of $146.5 million and adds that 2010 could turn out to be its strongest ever year for sales.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 2:43 am JD Sports profits swell 26% on young fashionThe success of clothing aimed at young buyers boosted profits at JD Sports by 26 per cent last year, but the sports retailer warned that tough economic conditions could still deter customers. Source: Latest Business News from Times Online | 14 Apr 2010 | 2:43 am Strong quake kills hundreds in ChinaAt least 400 people are dead and a further 8,000 in need of urgent medical attention in the remote north-western Chinese province of Qinghai, near the Tibetan borderSource: Financial Times - US homepage | 14 Apr 2010 | 2:23 am AIG unit raises $2 billion in aircraft sale to MacquarieSYDNEY (Reuters) - The aircraft leasing unit of bailed-out insurer American International Group has agreed to sell 53 passenger jets to Australia's Macquarie Group to raise a much-needed $2 billion in cash.
Source: Reuters: Business News | 14 Apr 2010 | 2:15 am Lexus GX 460 rated 'do not buy,' Toyota halts sale (AP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 2:13 am Signs of Asian growth add to positive mood08:30 BST: Signs of burgeoning economic growth in Asia and barnstorming results from tech bellwether Intel gave a boost to risk appetite on Wednesday. The FTSE All-World equity index rose 0.5 per...Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 2:00 am Prudential names UK chief to lead Asia integrationPrudential has appointed the head of its UK and European operations to push through its $35.5 billion acquisition of AIA in Asia but has failed to resolve the future role of its current Asian chief, Barry Stowe.$ Source: Latest Business News from Times Online | 14 Apr 2010 | 1:59 am How not to waste your tax refundWhat's that in your mailbox (or directly deposited into your checking account)?Source: Business and financial news - CNNMoney.com | 14 Apr 2010 | 1:58 am Emerging Markets Report: Poland's next central bank chief key for marketsThe appointment of Poland’s next central-bank president will be a key decision for market sentiment, highlighting the delicate political environment that has taken shape in Warsaw following the death of numerous officials in a plane crash on Saturday.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 1:55 am Media Digest 4/14/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Daimler kept its earnings and dividend outlook for 2010. Reuters: American International Group (NYSE: AIG) raised $2 billion thought an aircraft sale. Reuters: Intel Corporation (NASDAQ: INTC) results lifted markets in Asia. Reuters: A government report says mortgage modifications have been too low. Reuters: Fed officials see a slow recovery. Reuters: Obama hoped for a yuan move but China [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Apr 2010 | 1:53 am Chinese property prices jump at a record paceChina's property prices soared at a record pace last month, sparking renewed concern about the danger of a bubble in the world's fastest-growing economy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Apr 2010 | 1:48 am Singapore reveals blacklist of rogue directorsThe Singapore Exchange has distributed a blacklist of ten former company directors who “failed to act in the interests of shareholders” and warned listed companies to reconsider before hiring them. Source: Latest Business News from Times Online | 14 Apr 2010 | 1:48 am Europe Markets: Tech-sector earnings help European shares advanceEuropean shares rise for the first time in three sessions on Wednesday, with the technology sector buoyed by earnings from U.S. and European companies.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 1:47 am Watchdog: Obama foreclosure plan leaves many out (AP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 1:43 am German threatens legal challenge over Greek aid: reportBERLIN (Reuters) - A German economist plans to launch a legal challenge at the Constitutional Court against the euro zone aid package for Greece agreed by finance ministers at the weekend, a German newspaper reported on Wednesday. Joachim Starbatty, a professor at Tuebingen University, was quoted by the Rheinische Post paper as saying the aid package breached the EU's Maastricht Treaty.
Source: Reuters: Business News | 14 Apr 2010 | 1:41 am German threatens legal challenge over Greek aid: reportBERLIN (Reuters) - A German economist plans to launch a legal challenge at the Constitutional Court against the euro zone aid package for Greece agreed by finance ministers at the weekend,...Source: RSS feed - channel BNewsBusiness | 14 Apr 2010 | 1:41 am FTSE 100 rises at open (AFP)
Source: Yahoo! News: Stock Markets News | 14 Apr 2010 | 1:34 am Fed boss has bittersweet message on recovery, jobs (AP)
Source: Yahoo! News: Business News | 14 Apr 2010 | 1:32 am Wall Street-backed Chinese dairy firm collapsesHONG KONG (Reuters) - Chinese dairy products maker Taizinai, which counts Goldman Sachs and Morgan Stanley among its investors and Citigroup among its lenders, has collapsed, leaving around 3 billion yuan ($440 million) in unpaid debt, sources familiar with the matter said on Wednesday.
Source: Reuters: Business News | 14 Apr 2010 | 1:31 am Wall Street-backed Chinese dairy firm collapsesHONG KONG (Reuters) - Chinese dairy products maker Taizinai, which counts Goldman Sachs and Morgan Stanley among its investors and Citigroup among its lenders, has collapsed, leaving...Source: RSS feed - channel BNewsBusiness | 14 Apr 2010 | 1:31 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 | 14 Apr 2010 | 1:31 am Macquarie to buy 53 AIG aircraftAIG, the insurance giant bailed out by the US government, is selling 53 aircraft to Australia's Macquarie for about $2bn in cash.Source: BBC News | Business | World Edition | 14 Apr 2010 | 1:17 am JD Sports raises dividend after profits beat expectationsSportswear retailer JD Sports said on Wednesday that it made an underlying pre-tax profit of £67.4m for the year to January 30 - a 26pc increase on the previous year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Apr 2010 | 1:07 am JD Sports enjoys growth in profitJD Sports sees a 26% increase in full-year profits - but warns tough economic conditions may force customers to cut back.Source: BBC News | Business | World Edition | 14 Apr 2010 | 1:05 am Business Bullet: Intel, Toyota, Oil, JD Sports FashionThe latest news on: Intel, Toyota, Oil, JD Sports FashionSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Apr 2010 | 1:00 am Intel sales forecast tops analysts' estimates as PC demand growsIntel Corp. forecast second-quarter sales that topped analysts' predictions, indicating that demand for personal computers remains strong.Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am Business BriefingU.S., Russia steel goods face duties
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am Stocks end higher on expectations for IntelNEW YORK -- The Dow Jones industrial average extended its push past 11,000 Tuesday after expectations grew that stronger corporate earnings would signal that a recovery is on track.Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am Can we trust telecom firms on net neutrality?Here's an entry in my bizspeak-to-English dictionary: When executives in certain industries talk about needing to be rid of regulation so they can foster "better customer service," they're really talking...Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am Business BriefingU.S., Russia steel goods face dutiesSource: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am Can we trust telecom firms on net neutrality?Here's an entry in my bizspeak-to-English dictionary: When executives in certain industries talk about needing to be rid of regulation so they can foster "better customer service," they're really talking about safeguarding their income.
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am U.S. trade deficit growsImports exceeded exports by $39.7 billion in February, an increase of $2.7 billion from January. Some see the numbers as a sign that economies around the world are improving.The U.S. trade deficit took a turn for the worse in February as imports swelled to meet American consumers' renewed appetite for electronics, toys, apparel and other goods from abroad.
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am Ad Spending Frenzy at Lagardere - Coffers 'Emptied' to Entrench a By-Gone EraSource: RSS feed - channel BNewsBusiness | 14 Apr 2010 | 1:00 am Former WaMu risk officers say warnings were ignoredTestifying before a Senate committee, top executives of the failed thrift defend their actions before its collapse.Top executives of Washington Mutual Bank defended their actions in the years before the savings and loan's 2008 collapse, but former chief risk officers testified Tuesday that their warnings about reckless bets on the subprime mortgage market largely went unheeded.
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am Stocks end higher on expectations for IntelNEW YORK -- The Dow Jones industrial average extended its push past 11,000 Tuesday after expectations grew that stronger corporate earnings would signal that a recovery is on track.
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am Signs seen of a housing rebound in Southern CaliforniaThe median price paid for a home rose 14% in March to $285,000 from a year earlier, according to MDA DataQuick. Higher-priced coastal markets saw more activity, and fewer foreclosures were for sale.Southern California's housing market showed fresh signs of momentum in March with the median price and sales pace improving from the same month a year earlier as buyers hurried to take advantage of a soon-to-expire federal tax incentive, cheap prices and low interest rates.
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am New Twitter topic: Ads appear on siteIn new push for profit, the company offers 'promoted tweets' atop search results. Twitter Inc. has rolled out...Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am Signs seen of a housing rebound in Southern CaliforniaThe median price paid for a home rose 14% in March to $285,000 from a year earlier, according to MDA DataQuick. Higher-priced coastal markets saw more activity, and fewer foreclosures were for sale. ...Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am New Twitter topic: Ads appear on siteIn new push for profit, the company offers 'promoted tweets' atop search results.Twitter Inc. has rolled out advertising on its site for the first time, a significant step in converting the social network's explosive growth into cash.
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am Stars align to keep filming close to homeTom Hanks, Adam Sandler, Orlando Bloom and others have been or will be shooting on Southern California streets. ...Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am FCC Chairman Julius Genachowski tries to ease broadcasters' fears about giving up airwavesSpeaking at the National Assn. of Broadcasters conference in Las Vegas, he also expresses concern about recent battles over carriage fees between broadcasters and cable operators.Federal Communications Commission Chairman Julius Genachowski tried to ease fears Tuesday about the agency's broadband plan and expressed concern about recent battles over carriage fees between broadcasters and cable operators.
Source: L.A. Times - Business | 14 Apr 2010 | 1:00 am Former WaMu risk officers say warnings were ignoredTestifying before a Senate committee, top executives of the failed thrift defend their actions before its collapse. ...Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am U.S. trade deficit growsImports exceeded exports by $39.7 billion in February, an increase of $2.7 billion from January. Some see the numbers as a sign that economies around the world are improving. ...Source: RSS feed - channel BNPaperBusiness | 14 Apr 2010 | 1:00 am Daimler keeps 2010 earnings, dividend outlookBERLIN (Reuters) - German carmaker Daimler reaffirmed it would earn more than 2.3 billion euros ($3.14 billion) of operating profit this year, with all divisions returning to the black, allowing it to pay a dividend again.
Source: Reuters: Business News | 14 Apr 2010 | 12:59 am Daimler keeps 2010 earnings, dividend outlook (Reuters)Reuters - German carmaker Daimler (DAIGn.DE) reaffirmed it would earn more than 2.3 billion euros ($3.14 billion) of operating profit this year, with all divisions returning to the black, allowing it to pay a dividend again.Source: Yahoo! News: Business News | 14 Apr 2010 | 12:59 am Daimler keeps 2010 earnings, dividend outlookBERLIN (Reuters) - German carmaker Daimler reaffirmed it would earn more than 2.3 billion euros ($3.14 billion) of operating profit this year, with all divisions returning to the black,...Source: RSS feed - channel BNewsBusiness | 14 Apr 2010 | 12:59 am Prudential appoints Rob Devey to lead integration of AIAPrudential has appointed Rob Devey, the head of its UK and European operations, to lead the insurer's integration with AIG's Asian life insurance arm.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Apr 2010 | 12:57 am Volvo fine if Renault sold stake: CEOSTOCKHOLM (Reuters) - Volvo would have no trouble relying solely on its Swedish investors if Renault decided to sell its stake in the company, the automaker's chairman Louis Schweitzer...Source: RSS feed - channel BNewsBusiness | 14 Apr 2010 | 12:54 am Volvo fine if Renault sold stake: CEOSTOCKHOLM (Reuters) - Volvo would have no trouble relying solely on its Swedish investors if Renault decided to sell its stake in the company, the automaker's chairman Louis Schweitzer told a Swedish newspaper on Wednesday.
Source: Reuters: Business News | 14 Apr 2010 | 12:54 am Toyota suspends US Lexus salesToyota says it is suspending US sales of one of its models after a consumer group warns customers not to buy it.Source: BBC News | Business | World Edition | 14 Apr 2010 | 12:46 am UK's Prudential names Devey to lead AIA integrationLONDON (Reuters) - Prudential Plc said on Wednesday it had appointed Rob Devey, head of the UK insurer's British and European operations, to lead the integration with American...Source: RSS feed - channel BNewsBusiness | 14 Apr 2010 | 12:46 am AIG unit raises $2 billion in aircraft sale to MacquarieSYDNEY (Reuters) - The aircraft leasing unit of bailed-out insurer American International Group has agreed to sell 53 passenger jets to Australia's Macquarie Group to raise a much-needed...Source: RSS feed - channel BNewsBusiness | 14 Apr 2010 | 12:23 am NZ sharemarket closes higherThe New Zealand sharemarket closed higher today, reflecting buoyant global equity markets, but Nuplex shares closed down as coverage of a court action against it alleging a breach of continuous disclosure continued.The benchmark...Source: nzherald.co.nz - Business | 14 Apr 2010 | 12:16 am Death toll rises to 300 in quake-hit western ChinaA severe earthquake reportedly kills an estimated 300 people, injures 8,000 and traps an unknown number of others in collapsed buildings in China's western province of Qinghai.
Source: MarketWatch.com - Top Stories | 14 Apr 2010 | 12:09 am Greece still at risk of debt spiral, says George SorosBillionaire investor says the cost of borrowing in Greece's rescue package is too high and the country still risks falling into a "debt spiral".Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Apr 2010 | 12:03 am NZ dollar sinks on retail dataThe New Zealand dollar dipped and then recovered on weaker than expected retail sales data today.The NZ dollar was at US71.17c at 5pm from US71.27c at 5pm yesterday. It fell from around US71.30c to the session low of US70.66c...Source: nzherald.co.nz - Business | 13 Apr 2010 | 11:59 pm Watchdog: Obama foreclosure plan leaves many outA watchdog panel overseeing the financial bailouts says the Obama administration's flagship mortgage aid program lags well behind the foreclosure crisis and leaves too many families out.Source: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 11:34 pm Asian markets mostly rise on strong Intel resultsStocks mostly rose in Asia on Wednesday on investors optimism that better-than-expected first quarter results from Intel Corp. will usher in a strong earnings season. Singapore's...Source: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 11:34 pm Abercrombie & Fitch boss paid $4m to curb plane useThe chief executive of Abercrombie & Fitch is being paid $4m (£2.6m) to curb his personal use of the company plane.Source: BBC News | Business | World Edition | 13 Apr 2010 | 11:29 pm Orleans Homebuilders Announces Execution of Definitive 'Stalking Horse' Asset Purchase Agreement With NVR, Inc.Source: RSS feed - channel BNewsBusiness | 13 Apr 2010 | 11:29 pm NZ dollar sinks against AussieThe New Zealand dollar dipped and then recovered on weaker than expected retail sales data today.The NZ dollar was at US71.17c at 5pm from US71.27c at 5pm yesterday. It fell from around US71.30c to the session low of US70.66c...Source: nzherald.co.nz - Business | 13 Apr 2010 | 11:28 pm Toyota halts sales of new Lexus SUV over 'safety risk'Lexus GX460 to be suspended from sale in the US for tests, after concerns were made by magazine Consumer Reports.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 11:18 pm ANZ advised of $64m loss if Feltex failed, court toldAn independent advisor told ANZ in 2006 it faced a $64 million loss if Feltex went into liquidation and that a trade sale was the best way forward.Former ANZ senior executive Peter Holland told the Auckland District Court today...Source: nzherald.co.nz - Business | 13 Apr 2010 | 10:53 pm Intel's knock-out Q2 props up tech sector hopesSAN FRANCISCO (Reuters) - Intel Corp's sales and margin forecasts trounced Wall Street expectations, reinforcing hopes for an acceleration in the tech sector's recovery and boosting the chip maker's stock 4 percent.
Source: Reuters: Business News | 13 Apr 2010 | 10:24 pm Toyota suspends sales of Lexus SUVToyota asked dealers to temporarily suspend sales of the new 2010 Lexus GX 460 after Consumer Reports issued a safety warning on the SUV.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 10:23 pm Can You Deduct Your Private Jet?VIDEO: What the tax code says about buying a private aircraft.
Source: SmartMoney.com | 13 Apr 2010 | 10:00 pm Biotech Bruker Is Primed to Cash InBruker should benefit from the pickup in research spending.
Source: SmartMoney.com | 13 Apr 2010 | 10:00 pm Prepaid Tuition Plans Run Into Trouble (Education and Your Money)State budget cuts and rising tuition are posing new risks for investors.
Source: SmartMoney.com | 13 Apr 2010 | 10:00 pm Make Your Next Vacation Tax Deductible (Deal of the Day)Tips for planning a "voluntourism" trip that won't break the bank.
Source: SmartMoney.com | 13 Apr 2010 | 10:00 pm 5 Tech Stocks Set to SoarThese companies should cash in on an increase in tech upgrades.
Source: SmartMoney.com | 13 Apr 2010 | 10:00 pm Tax Tips: Should I Pay My Taxes With Plastic? (Tax Tips)Slapping Uncle Sam's bill on your credit card will cost you.
Source: SmartMoney.com | 13 Apr 2010 | 10:00 pm 7 Tax-Related Movies That CollectedVIDEO: A quick look at the history of taxes in cinema.
Source: SmartMoney.com | 13 Apr 2010 | 10:00 pm Chinese eye southern dairy farmsThe Chinese-backed buyer planning to invest $1.5 billion in New Zealand's dairy industry is understood to be investigating the purchase of up to 100 farms in the lower South Island.Natural Dairy (NZ) has interest from the owners...Source: nzherald.co.nz - Business | 13 Apr 2010 | 9:00 pm Retailers still finding it toughConsumers' fondness for discounted prices is being blamed for some of the 0.6 per cent seasonally adjusted fall in retail sales in February from January.The $32 million total fall in sales, compared to January, included a 3.3...Source: nzherald.co.nz - Business | 13 Apr 2010 | 8:00 pm Feedback wanted on tax change proposalThe Government wants feedback on a proposed change to stop foreign investors being over-taxed when they invest in New Zealand.New Zealand residents were taxed on domestic and foreign-sourced income. Non-residents were supposed...Source: nzherald.co.nz - Business | 13 Apr 2010 | 7:35 pm Toyota temporarily halts sale of Lexus GX 460 SUVThe move comes after Consumer Reports says the vehicle is susceptible to rollover accidents and federal safety regulators urge drivers to use extra caution in operating it.Toyota Motor Corp. halted sales of a Lexus luxury SUV on Tuesday after a warning by Consumer Reports magazine that the vehicle was a safety risk.
Source: L.A. Times - Business | 13 Apr 2010 | 7:34 pm The Tuesday Podcast: Management Secrets Of The Treadmill Video GuyDamian Kulash is the lead singer of OK Go, the band that made that treadmill video somebody forwarded you a few years back. The video above is from their latest album, Of The Blue Colour Of The Sky On today's Planet Money, Kulash talks about the sinking ship that is the music business. He's not a fan of the major labels. But his former label, EMI, took a risk on his band that he wouldn't have taken himself: I certainly didn't have $150,000, $200,000 to dump on trying to make my band work. And if I could have gotten a banker to give me that loan, I wouldn't have taken it because the chances are I'm going to fail. Now that OK Go has made it big, though, they've left EMI and started their own label. That would have been tough back in the day, he says: Way back in the day -- by which I mean like eight years [ago] -- before the culture at large had picked up on digital distribution, before everybody saw an MP3 as sort of equivalent to a CD, you really did need a brick and mortar system. You needed things to get on a truck and things to get across a country and to get into the hands of people so they could put it in their CD player. Distribution's a snap now. But the rest of the music business is a mess, and there's no clear path for a young band that wants to make it big. There's no known way from point A to point C or D or F anymore. ... There's all sorts of room for people to try new ideas and try innovative things. If people make cool stuff, and people are savvy in the way they deal with their cool stuff, I have no doubt that young bands will continue to rise to the top Read Kulash's New York Times op-ed. Download the podcast, or subscribe. Music: OK Go's "This Too Shall Pass." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 13 Apr 2010 | 7:31 pm Toyota suspends sales of new Lexus amid rollover fearsThe troubled Japanese car maker Toyota, still reeling from a string of safety problems, has suspended sales in the US of its Lexus GX 460 model, after an influential American consumer magazine urged consumers not to buy the car for fear it may roll over. Source: Latest Business News from Times Online | 13 Apr 2010 | 7:29 pm Nuplex man resigns from Securities CommissionAuckland businessman David Jackson has resigned from the Securities Commission amid civil proceedings brought by the commission against Nuplex Industries, of which he is a non-executive director.The commission is filing civil...Source: nzherald.co.nz - Business | 13 Apr 2010 | 7:00 pm Morgan Stanley fund may lose $5.4 billion: reportNEW YORK (Reuters) - Morgan Stanley has told investors that its $8.8 billion real-estate fund may lose nearly two-thirds of its money due to bad investments, according to The Wall Street Journal, which reviewed fund documents.
Source: Reuters: Business News | 13 Apr 2010 | 6:40 pm Telecom appoints new mobile directorTelecom has appointed Kieren Cooney, the chief executive of its retail dealer partner Leading Edge NZ, as the new director of its troubled mobile division.Before his four years at Leading Edge, Mr Cooney held key senior roles...Source: nzherald.co.nz - Business | 13 Apr 2010 | 6:32 pm Toyota halts SUV sales after warningToyota has suspended sales of its new Lexus GX460 luxury sport-utility vehicle after Consumer Reports magazine, an influential US consumer watchdog, advised motorists not to buy the vehicleSource: Financial Times - US homepage | 13 Apr 2010 | 6:26 pm Ex-chief says WaMu was ‘bargain price’Kerry Killinger, former chief executive of Washington Mutual, the failed savings and loan, accused US policymakers of wrongly seizing the bank in 2008 and selling it at a “bargain price” of $1.9bn to JPMorgan ChaseSource: Financial Times - US homepage | 13 Apr 2010 | 6:05 pm The wizard behind Cameron’s little blue bookIt’s been 24 hours now, so I assume you have in front of you your own bound copy of the Conservative manifesto. Of course you do. Well, the thing to remember as you peruse the little blue book is this: for most of its long life, the Conservative Party hasn’t been much interested in big ideas and systems of thought. Source: Latest Business News from Times Online | 13 Apr 2010 | 6:01 pm Ernst & Young suffers fall in partners’ profitsErnst & Young has paid the price of chasing its “big four” accounting rivals with a fall in partners’ profits last year. Source: Latest Business News from Times Online | 13 Apr 2010 | 6:01 pm Candover puts an extra £15 million into struggling DX GroupCandover has been forced to put an additional £15 million into DX Group, the business mail company that it bought for £350 million four years ago. Source: Latest Business News from Times Online | 13 Apr 2010 | 6:01 pm British Midland returns to the skies but cuts jobs and flightsBmi’s German owner yesterday announced massive job losses and a cut of nearly a quarter of its capacity in a move to save £100 million a year. Source: Latest Business News from Times Online | 13 Apr 2010 | 6:01 pm Man owed £1,000 tax rebate fined £1,400 for getting sums wrongThe taxman has come under fire after a man who tried to claim a rebate after overpaying his taxes received a hefty fine for making a mistake in his sums. Source: Latest Business News from Times Online | 13 Apr 2010 | 6:01 pm Audrey Young: The New Zealand "boogey man"My last day in Washington covering the Prime Minister's nuclear summit was rather rural. While the leaders were in session I spent the morning at the United States Department for Agriculture at 1400 Connecticut Ave.It's a...Source: nzherald.co.nz - Business | 13 Apr 2010 | 6:00 pm Nations unite on nuclear menaceThe world risks a catastrophe from nuclear terrorism, US president Barack Obama warnsas he hosts a 47-nation security summit in WashingtonSource: Financial Times - US homepage | 13 Apr 2010 | 5:56 pm Intel beats analysts’ results estimatesIntel boosted the technology sector at the start of the earnings season with a record first quarter for sales and an optimistic outlookSource: Financial Times - US homepage | 13 Apr 2010 | 5:36 pm Gripping stuffWhy wrestling is bigger than football in SenegalSource: BBC News | Business | World Edition | 13 Apr 2010 | 5:17 pm WaMu's Killinger: The forgotten villainKerry Killinger, the forgotten villain of the financial crisis, has finally gotten his appointment to get fitted for goat's horns.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 5:04 pm Intel's profit soars, beats estimatesIntel Corp. posted a first-quarter profit and revenue that beat Wall Street expectations on Tuesday, as the world's largest microchip maker became the first major technology company to report results for the period.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 4:41 pm Wal-Mart, Safeway, Gap, Macy’s, Yum!, Earnings: Taking StockSource: Bloomberg - All Podcasts | 13 Apr 2010 | 4:34 pm 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 | 4:11 pm Elan lawsuit against Apple to include iPadThe Taiwanese chipmaker, which sells touchscreen modules and other user interface components, will seek to expand its patent infringement actionSource: Financial Times - US homepage | 13 Apr 2010 | 4:02 pm Thomson Reuters launches web overhaulThe financial and professional information group will unveil the biggest overhaul of its markets division by bringing together products into two simplified platforms aimed at enterprises and at individual usersSource: Financial Times - US homepage | 13 Apr 2010 | 4:01 pm Write-Offs: 04.13.10$$$ NYU Professor’s Admonition Becomes a Student Motto [Daily Intel] $$$ Investigators Focusing Further on Lehman’s Use of Accounting Gimmicks [FBN] $$$ Bank of America ML on BJ’s, Dick’s [BI] $$$ Buffett Bet on Goldman Sachs ‘Integrity,’ Olson Says [BW] $$$ Analysis of the Krugman v Sorkin fight. [VV] 
Source: Dealbreaker | 13 Apr 2010 | 4:00 pm Stocks end higher on hopes for good Intel results (AP)
Source: Yahoo! News: Stock Markets News | 13 Apr 2010 | 3:51 pm Credit Suisse Volunteers Analyst To Take One For The Team
Source: Dealbreaker | 13 Apr 2010 | 3:50 pm Kerry Killinger Fell On Non-Colorblind Side Of Ang Moz Debate
Source: Dealbreaker | 13 Apr 2010 | 3:40 pm How the major stock indexes fared on Tuesday (AP)AP - The Dow Jones industrial average extended its push past 11,000 Tuesday after expectations grew that stronger corporate earnings would signal that a recovery is on track. Stocks fell in early trading after quarterly results from aluminum producer Alcoa missed expectations. Major indexes later poked higher as traders jockeyed for position ahead of earnings from leading chipmaker Intel Corp., which reported strong results after the closing bell.Source: Yahoo! News: Stock Markets News | 13 Apr 2010 | 3:39 pm Presented By:Source: Dealbreaker | 13 Apr 2010 | 3:13 pm Good Reasons To Take And Also Not Take NYU B-School Professor Scott Galloway’s Class The Snatch-Buckler On the one hand, he’s the guy who will not hesitate to rip into a student for showing up late, and then send off a list of rules re: what is not acceptable in his classroom (you can’t burst into showtunes, piss on the desk, or practice hair-removal). Points awarded. On the other, he’s a apparently a member of Carbon NYC, the self-described “social networking group for the alpha male.” Point subtracted. But where he really tips the scales in his favor? Nicknames. Vadge-inspired nicknames.
Imagine what you could come up with on your own after a semester under his tutelage… Potential NYT Director Scott Galloway a “Muffkateer”? [Radar via DI Yes it's old but I did not know this skill-set possessed by SG]
Source: Dealbreaker | 13 Apr 2010 | 3:13 pm Robert Tchenguiz was Icelandic banks' biggest borrowerCrisis report has laid bare the astonishing relationship between London property billionaire Robert Tchenguiz and failed bank, Kaupthing.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 2:54 pm Ambac Sees Biggest Stock Price Reversal Of The Year (ABK)Ambac Financial Group, Inc. (NYSE: ABK), the troubled muni bond insurance and financial guaranty company, was up to $3.39 earlier after opening at $2.95 this morning and after closing at $2.25 on Monday. At about 2 PM, the stock reversed course and moved down 24% to $1.65 with an unofficial close of $4.62 today. How can [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 2:46 pm Carl Levin Getting Pissed with Killinger
He’s bashing former WaMu CEO Kerry Kiilinger for not answering a question about whether he would have been troubled had he seen some emails between other WaMu execs about high delinquencies of mortgages that were making their way into the bank’s securitized products. Killinger repeatedly refused to answer the question saying he didn’t want to deal with hypotheticals in hindsight. Carl wasn’t having any of that. “I would hope you would have said it would have troubled you,” Levin said. “It’s hard for me to accept that you wouldn’t have been disturbed by what you read this morning, Levin said referring to emails he read at the morning panel. “Would that have troubled you,” he asked again. Killigner’s response: “Again, I did not see the emails and did not know what ended up happening.” Levin jumps in: “If you HAD seen those emails at the time.” Kerry finally answers: “I would have inquired more, I would have wanted more information.” Levin: “Ok, I guess we’re making progress.”
Source: Dealbreaker | 13 Apr 2010 | 2:32 pm Intel Keeps The Momentum Rolling (INTC, AMD, SMH)Intel Corporation (NASDAQ: INTC) just reported earnings for the first quarter of 2009. Expectations were high with the hope of a beat and raise quarter. The near-monopoly in the world of processors reported earnings of $0.43 EPS on $10.3 billion in revenues. Thomson Reuters consensus estimates were $0.38 EPS on $9.83 billion in revenues, although [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 2:29 pm Pension fund managers, charity bosses to help heal rift with private equityPension fund managers and charity bosses will form a new advisory panel to help heal the rift between the private equity industry and its investors.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 2:22 pm Property tycoon Gerald Ronson warns of social unrest in a two-tier BritainBritain faces "social unrest" over rising unemployment outside London, property tycoon Gerald Ronson has warned.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Apr 2010 | 2:18 pm WaMu “President’s Club” Sales Conference Wrote And Performed A Rap Inspired By Sir-Mix-A-LotWhen Washington Mutual went down for the dirt nap, we didn’t just lose a savings bank holding company, we lost something so much bigger. We lost a group of people who were really good a changing the lyrics to well-known songs for sport and laughs. And not just any songs, but the classics, such as Sir-Mix-A-Lot’s “Baby Got Back.” Thanks to the today’s hearing on the hill, this one is saved in perpetuity. It was first performed at WaMu’s annual “President’s Club Awards Dinner” in 2006, an event attended by Magic Johnson, who was lucky enough to count himself among the speakers that night.
Source: Dealbreaker | 13 Apr 2010 | 2:08 pm TSX ends lower on easing commodity prices (Reuters)Reuters - Toronto's main stock index closed lower on Tuesday as materials and energy shares were hit hard by slipping commodity prices and a soft earnings report from U.S. aluminum giant Alcoa Inc.Source: Yahoo! News: Stock Markets News | 13 Apr 2010 | 2:07 pm Opportunities Remain in the Oil Patch (RDS-A, E, COP, HAL, WEL, HK, KMP, EPD, XOM, CEO, BP)Acquisitions, joint ventures, and ratings news in the oil patch have made for a busy day or two, and have also pointed out a handful of reasons pointing to a reasonable reason to search for opportunities in the fundamentals of the energy business. The news is, generally, upbeat on a lot of different fronts. In ratings [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 1:32 pm A new reality for living on 'eaarth'Author Bill McKibben talks with Kai Ryssdal about his book, "Eaarth: Making a Life on a Tough New Planet," why he chose that title, and what we have to do cope with how we've changed our planet.Source: Marketplace | 13 Apr 2010 | 1:31 pm Letters: ISPs, Spirit Airlines, WeintraubKai Ryssdal reviews what listeners had to say about stories involving net neutrality, Spirit Airlines charging for carry-on bags, Hollywood producer Jerry Weintraub, and Muslims and Jews working together to provide kosher and halal meat.Source: Marketplace | 13 Apr 2010 | 1:31 pm Independent oil producers still profitingIndependent oil and gas producers are used to risking everything on a single drill. Those wildcatters pioneered the business of dragging fossil fuels out of the ground, and they're still at it today. Kate Archer Kent reports.Source: Marketplace | 13 Apr 2010 | 1:30 pm Nomura Management Does Not Discriminate When It Comes To Referring To Women’s Racks As “Honkers”?
This seems a bit vague and deserving a clarification. Is the judge saying that the girls would’ve had their jugs referred to as “knockers” regardless of whether or not they white women? That nobody gets a free pass, male or female, and men regularly are called out on their “bitch tits”? That there was no proof the term “honkers” was actually used, but there were several instances of “knockers” and “fun bags”? Anyone familiar with the judge’s/management’s thinking should come forward at this time. Two ex-Nomura staff lose UK race, sexism claims [Reuters via BI]
Source: Dealbreaker | 13 Apr 2010 | 1:29 pm Farmers profit off gene-modified cropsA panel from the National Research Council released a report evaluating the profitability of using genetically-modified crops. Caitlan Carroll reports.Source: Marketplace | 13 Apr 2010 | 1:27 pm Twitter unveils advertising platformSince Twitter's users exploded into the millions, there have been questions about how the site would make money. A new ad plan may have some answers. Rico Gagliano reports.Source: Marketplace | 13 Apr 2010 | 1:27 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Tuesday:Source: Yahoo! News: Stock Markets News | 13 Apr 2010 | 1:27 pm Lehman used 'alter ego' to shift risksThe New York Times' Louise Story talks with Kai Ryssdal about a story she co-wrote involving a shadow bank that helped Lehman Brothers cover up risky investments that helped bring the company and economy to its knees.Source: Marketplace | 13 Apr 2010 | 1:27 pm Did WaMu's fraud lower rest of market?For a long time, Washington Mutual used a catchy tagline in its ads, "The Power of Yes." And new investigations show it wasn't just talking the talk: widespread fraud throughout the company let it say yes to just about everybody. Alisa Roth reports.Source: Marketplace | 13 Apr 2010 | 1:27 pm Roubini: Fed Hold Rate At Zero, How About Minus .5%?Famous economist Nouriel Roubini has so many opinions on the future of the financial world that he is almost always right 50% of the time. He now says the Fed will keep rates at zero, or lower, until early 2011. Or, the Fed will increase rates an regret it. One of the options he mentions [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 12:59 pm 'Free money' is stocks' secret weaponStock-market bulls are hoping the sharp rebound in corporate profits will keep the rally alive, but continued low interest rates might be more important.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 12:50 pm IMF adds weight to big bank surchargesThe International Monetary Fund urged US and European regulators to consider imposing higher bespoke capital requirements on ‘systemically important’ banks deemed ‘too big to fail’Source: Financial Times - US homepage | 13 Apr 2010 | 12:31 pm Beef price surges following harsh US winterCattle futures have risen more than 20% since December and are again flirting with $1 a pound, a milestone previously reached during the commodity price rise of 2008Source: Financial Times - US homepage | 13 Apr 2010 | 12:25 pm Lululemon Starts Reflecting Charts and Valuations (LULU)Lululemon Athletica Inc. (NASDAQ: LULU) has been in our list of Unusual Suspects each weekend now for three weeks running. It isn’t because the earnings were great or because of continued hype and news flow (not directly, anyhow), but because this stock has spent 3 consecutive weeks as the #1 position each weekend in the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 13 Apr 2010 | 12:15 pm The First KFC Double Down Event Of The Season Taking Place Tomorrow THE CHICKEN IS THE BUN! The Challenge: 7 KFC Double Down sandwiches in 30 minutes.
Some info on the participants, according to their colleagues: Participant One: *26 Years Old * Heavy Weight – shaped like Wario without the mustache, 235 lbs, 5′8″ * He is a data freak and has been monitoring his weight daily for the past 7 years. He is currently at an all time high. He gave a presentation at a group meeting which presented regression results that explained the relationship between his seamless web ordering habits and his weight gain. * Leaving the firm in June for MBA program that shall remain nameless. Participant Two: * 27 Years Old * Middle Weight, approximately 5′11″ * Lives in New Jersey with his wife (almost everyone else in the office is unmarried and lives in Manhattan) and has a love of ultimate fighting. Earlier: Have We Identified The Next Food Eating Challenge?
Source: Dealbreaker | 13 Apr 2010 | 12:15 pm Wall Street Banks Were 'Too Clubby To Fail'By Jacob Goldstein It's come to this: Even a former bank president is complaining about close ties between bankers and government officials. The problem for ousted Washington Mutual CEO Kerry K. Killinger is that only some banks were in the club. In testimony prepared for a Senate hearing today, Killinger says WaMu had would have been able to ride out the crisis if it hadn't been seized by regulators. What's more, he says, WaMu was at an unfair disadvantage because it was ... excluded from hundreds of meetings and telephone calls between Wall Street executives and policy leaders that ultimately determined the winners and losers in this financial crisis. For those that were part of the inter circle and were "too clubby to fail," the benefits were obvious. For those outside of the club, the penalty was severe. Killinger argues that the government response to the crisis reflects "a vision of a banking industry dominated by large Wall Street banks." He suggests that this will mean less competition among retail banks, which could in turn lead to higher fees and lower interest rates on consumers' deposits. For another side of the WaMu story, read this morning's post on the Senate investigation that found WaMu often made loans based on fraudulent information, and passed those loans to investors. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 13 Apr 2010 | 12:02 pm WaMu Screwed Wall Street Over and Over Again
But the real bombshell occurred after WaMu discovered the fraud in their own investigation and still decided to package the mortgages into mortgage-backed securities and sell them off to Wall Street. Oops. It seems WaMu didn’t care that much about about the fraud (they even awarded certain loan officers with trips to Hawaii) and those packaging the securities never asked whether the fraud-tainted mortgages had been removed from the securities they were packaging. “You had evidence of fraud and you didn’t check” that the mortgages were not part of the securities, asked Sen. Carl Levin, chairman of the committee looking into the bank’s failure. David Beck, WaMu’s former head of capital markets, said he didn’t ask. “Isn’t that your job,” Levin said. Beck said it was someone else’s responsibility. “These are securities that happened on your watch,” Levin said.
Source: Dealbreaker | 13 Apr 2010 | 11:44 am Junk stocks rise from the scrap heap - The BuzzFranklin Delano Roosevelt famously proclaimed that the only thing we have to fear is fear itself. Looking at how the stock market has been behaving recently though, I think it's now fair to say that the only thing we have to fear is no fear itself.Source: Business and financial news - CNNMoney.com | 13 Apr 2010 | 11:06 am Apple upgrades laptopsSource: Business and financial news - CNNMoney.com | 13 Apr 2010 | 10:58 am Commodity ETF Assets Decline in U.S., Gain in EU: AudioSource: Bloomberg - All Podcasts | 13 Apr 2010 | 10:44 am Gold Fields Raised to `Outperform’, TCF Cut to `Sell’: AudioSource: Bloomberg - All Podcasts | 13 Apr 2010 | 10:42 am 15 Businesses You Can Start With $5,000 or LessAre you serious about starting a business, but lack the big bucks? Before you take out a bank loan, consider that you can start a number of businesses for as little as several hundred dollars. We’ve compiled a list of 15 proven businesses that you can start for $5,000 or less in overhead. Some require little outlay, but lots of time; others require more energy; still others don’t require much at all. One of the business ideas below might just be your next big thing. Virtual Assisting
Virtual assistants help clients with a variety of projects from their home offices. Tasks may be administrative, but can also relate to marketing, Web design, IT, and other tasks. Virtual assistants communicate with their clients via Internet, phone, or fax. Overhead: Your computer, phone system, and Internet connection are your lifeblood in this industry. If you already own the relevant machines, make sure you have the means to pay for good connections on a monthly basis. Many virtual assistants come from a non-virtual (on-the-job) background. If you’re interested in education and coaching to launch your business, venues such as Virtual Assistance U. charge around $1,500 for complete training. Recurring expenses: A good Internet and phone connection. Subscription fees for job-finding services such as ELance. Income potential: Most virtual assistants make $31-39/hour, according to this survey.
Apps are taking over the world! If you have a propensity for Web development, enough skill to work in various platforms (iPhone, iPad, Droid, etc.), it’s time to mine the app craze. Overhead: $2500-$5000 Many companies now exist that will take your amazing smartphone application idea and develop it into a real, sellable app for download. Upfront costs include a development period where they will work with you to best design the application. Most of these companies charge from $999-$2000 and many keep partial ownership of the application as the developer. But you are also gaining entry into a highly technical marketplace. Recurring expenses: Ongoing marketing and spreading the news about your app will be your greatest time and money expenditure. You might consider hiring PR or marketing company familiar with getting new apps reviewed. Make sure that your app is included on the relevant blogs and news outlets who report on new apps. Bookkeeping
If you’re super organized and like numbers, try your hand at being an independent bookkeeper. Most companies need a good bookkeeper. Clever marketing and a good reputation will give you a solid and lucrative business. Overhead: >$2000 Attending conferences and receiving newsletters on pending changes in Tax laws etc. will also be a valuable resource to consider. Income potential: Bookeepers’ pay varies widely based on the business they interact with and the margins of Revenue involved. When figuring hourly, most can make $35-45 per hour and usually bill 15 hrs per week/per client. Computer repair
Got a knack for fixing PCs or Macs? Are you the person your family and friends always call when they have computer trouble? You might consider turning your skill into a small business. Everyone has a computer, and 99% of us panic when something goes wrong. Being the person to save the day can reward you handsomely. Bonus points if you can fix mobile devices. Overhead: A license and insurance could set you back up to $2,000. Also consider marketing costs, especially when you’re just starting out, and any hardware and software you need to troubleshoot other peoples’ computers. A dedicate space with a repair bench and tools also helps a lot. Recurring expenses: Software upgrades, equipment upgrades and maintenance, rent if you have a separate office, fuel if you do house calls. Income potential: Most computer repair people charge $75-$100/hour—it all depends on the going rates where you live. If you focus on serving businesses rather than residential customers, your income potential may be higher. Cleaning
Whether you’re an eco-friendly maid or a crime scene cleaner, cleaning services can be a good bet. Somebody always needs a house cleaner, janitor, or certified cleaning specialist to do their dirty work for a fee. Overhead: Regardless of what specialty you choose to focus on, you’ll need a few basics. A car or van that fits your supplies, basic supplies, protective wear, liability insurance, business cards, and professional invoices are a place to start. You can get all of these things for less than $5,000 if you’re thrifty and willing to drive an old car. Some businesses, like window cleaning, only require a couple hundred dollars to start. If you choose to specialize, you may need to invest in a certification. Certifications either help or are required in niches like restoration, disaster cleanup, or window cleaning. You can also go for a franchise like Jan-Pro, which for as little as $3,300 can get you started in the commercial cleaning business. Recurring expenses: You’ll occasionally need to replace and upgrade supplies. Also factor in gas, insurance fees, and marketing costs. Income potential: If, on average, you charge clients $20/hour and work 30 billable hours/week, you can make around $30,000 per year. Your income potential goes way up depending on your niche, hours you work, and what you charge. Painting
If you’re a decent interior and exterior painter–or, better yet, already know the painting business–forking up for some high-grade tools can pay handsome dividends. Residential homes, new construction, and commercial painting are general places to start. Overhead: $2,000+. You’ll need painting supplies like drop cloths, a ladder, and edges. Marketing and advertising will also be necessary expenses. Add to that any necessary licensure and liability insurance. Your biggest investment at the beginning will be the time it takes to build your network. Recurring expenses: Replacing supplies. Keeping insurance and licensure current. Constant advertising, at least until you gain enough business through referrals. Time/energy requirement: Very high. You’ll have to network and market your hiny off at the beginning. Your work will also be very physical, requiring a lot of standing up, upper body movement, and exposure to strong fumes. Income potential: Income can be quite high if you get big enough, for example by adding other services, such as pressure washing, and hiring on contractors or employees. If you keep it at a DIY level, expect $20+/hour. Pet Walking
Like pets? Don’t mind walking a lot, disciplining animals, or scooping poop? Combine the two by becoming a pet walker (this usually goes hand-in-hand with cat sitting, too). It can be a surprisingly lucrative full-time business. Overhead: >$100-$500. Some dog walkers may be required to have a business license, if walking multiple dogs at one time, for example. Many opt to become insured and bonded as a safeguard for both themselves and their clients. Check your local jurisdiction for rules. Recurring expenses: Ongoing marketing and client care. Cards, flyers, handbills and networking with local pet centers will help get your message out there. Time/energy requirement: Lots of energy required. You do not what size of dog your client will have. You will be traveling to client’s homes, use with their keys and/or alarm systems, play with the animals, and feed them after their walk. You will also have to walk–a lot. Having a love of dogs and an understanding of animals will help you deal with those pets that are not well-trained. Many times, dog walker services upsell their clients for training as well. Keep in mind that in most cities, you will have to be chief pooper-scooper as well, so squeamish need not apply. Income potential: Unless you run a network of dog walkers or spend your whole day doing so, this can be a fantastic part-time opportunity. But if you are the sole walker and handle as many 10 dogs per day you can easily make $150 per day. Business Waste Consulting
Many businesses spend thousands of dollars a month just on waste disposal and recycling. With a little bit of training, you can become the person they turn to in order to save money. Companies hire environmental waste consultants to build recycling and waste reduction systems that will save them money. Naturally, a part of those saved expenditures goes to you, the consultant. Overhead: $3,000-5,000. If you choose to take care of the waste yourself, a truck will be your largest expense. Otherwise, marketing, promotion, and nabbing clients will take a chunk of your money and time. You may also need a workshop or warehouse to strip equipment of valuable copper and prepare for e-cycling waste requirements. Recurring expenses: Upkeep of your equipment and marketing costs to gain new clients. Time/energy requirement: You can go it on your own and drum up business or you can choose to be a part of a professional network such as Environmental Waste Solutions. Professional networks may require more startup capital for their seminars and materials. Going at it on your own, on the other hand, requires more time and probably a bigger marketing budget. Income potential: Most jobs will vary depending on the size of the company. Many in the field who just consult can make $1000 per week on four business development deals. If you consult and also take care of the waste management service, your profit could be $2,000 per company (at an average of four companies per month). Vending machines
Vending machines could be the world’s most effortless investment. All you need to do is buy a decent one, find it a good home, and restock/cash out every couple of weeks. Of course, there’s a bit of an art to putting the right machine in the right place, but after that, you’re golden. Overhead: $200-$5,000, depending on the type of machine you buy. Also, many vending machine owners pay a locating company to find a good location for their machines. Recurring expenses: Products to refill your vending machine with. Transportation to and from your vending machine. Servicing your vending machine. Some locations require that you pay a 5-10% fee for renting the space your vending machine is on. Time/energy requirement: Purchasing, transporting, and reloading product into your vending machine on a weekly basis requires some time and physical energy. Party Rentals
Ever been in a bouncy castle? It’s fun, right? Kids in churches, at birthday parties, at schools, and anywhere else there’s a party love bouncing around in inflated structures. If you happen to be the party rental service that provides inflatables and other party essentials, you have your business cut out for you. For a small initial investment, you can bring your portable party everywhere. Overhead: $200-$5,000+, depending on the type and amount of equipment you buy (besides bouncy structures, you can get water slides, obstacle courses, casino games, lighting/special effects…the opportunities are endless). For example, for an inflatable, you’ll also need a blower to inflate your equipment, liability insurance, and preferably a company-branded vehicle to carry your equipment. Budget money for accessories like a dolly, tarps, storage bags, and patch kits. Lawn Care
Everyone needs their lawn mowed, from private homes to big business parks. Why not be the company that does it for them? Lawn care can be a lucrative proposition—and that summer tan doesn’t hurt, either. Overhead: $3,000. This includes the cost of mowers, trimmers, bagging, seeders, brooms other and assorted items. In many cities you will need a city tax affidavit, liability insurance, a state tax number, and a business telephone. If you plan to spray lawns or provide sprinkler service, you will need to check with your county for the proper license. Recurring expenses: Upkeep and repair on your mechanical items will be essential to keeping your business running. Once you have built a solid customer base, you may think about replicating your team (buying the equipment and hiring summer workers) to handle more clients. Of course, marketing and networking whether by flyers, cards, brochures or handbills will be required each spring to gain new customers. Tutor center
Thanks to standardized testing, parents are herding their children into specialized tutoring centers. If you happen to run that tutoring company, the high SAT scores you produce could pay handsome dividends. Overhead: Less than $5,000. A room rental for 2 days per week costs an estimated $300, or $1200 a month (this becomes a recurring expense once you find a room). Preparation materials are $250-$500. Presentation materials and classroom items will run you about $300. Certification fees and materials will cost around $200. Recurring expenses: There are several, including: • Updated guides to various tests will be needed yearly to stay up to date. However, if you feel you like some training yourself before teaching others, a great resource is the National Tutoring Association. http://www.ntatutor.com/ Most programs are for 8 weeks, 1-3 hours per session. For college-level tests or simple certifications, you can charge $300-400. You can charge $500-800 for prep for professional tests. Depending on how many students you attract, you could make $2000-$5000 per month. Handyman
If you’re a jack-of-all-trades who can fix anything from roof beams to toilets, consider making a killing off your hobby by becoming a handyman. Many people don’t have the time or know-how to even fix the little things in their homes. If you make yourself visible and seal a good reputation, you can have customers for life. Even if you can’t swing a hammer, you can create a company that outsources handymen. People call you for a handyman, you find the specialist who best suits their needs, and the handyman does the work as a contractor for you. This role might be a little more overhead-intense, as it helps to have a central office, a good computer system, and other office equipment. Overhead: You need a good basic set of tools to do small jobs. A ladder, a truck to carry your supplies, and a stash of commonly-used hardware supplies also help. Also factor in insurance and licensure, as needed. Time/energy requirement: High when you’re just getting started. Once you have a reputation and regular clients, you’ll be able to pick and choose your jobs. Income potential: Handymen generally set different prices for different jobs; let’s assume you make $30/hour on average and work 30 billable hours/week. That gives you more than $43,000/year to start off, but many handymen make more.
Multilevel marketing is a form of self-employment where you sell something your company produces in exchange for a commission. As you work your way up the company, you can employ your own salespeople and take a bite out of what they sell. The higher up you climb, the more people you have working for you, and the more money you can make. Overhead: Your overhead depends on what MLM you choose to become involved with. Overhead usually runs in the $200+ range. Some MLMs, like Primerica, charge initial fees for registering; others, such as Cutco, charge you to buy demo products. Income potential: Also huge. The most successful network marketers can rake in millions per year. See commitment caveat above.
Everyone wants white teeth. Everyone hates the dentist. You can address that niche by franchising a kiosk where you whiten peoples’ teeth in a short period of time, using LED lights on peroxide gel. Many such kiosks are located at malls, but you can bring your kiosk to a salon, street fair, or anywhere you can get a license to put one. It only takes 20 minutes, and usually costs customers less than $100. Tooth whitening kiosks do face potential liability issues. For now, kiosk owners address this by having customers put the bleaching product in their own mouths, thus absolving the owners of responsibility. Overhead: $5,000 Recurring expenses: Running a kiosk will cost you around $1,500/month in rent at most malls. Some malls may want a percentage of your sales. Ask your local malls in advance for their fees. Also note that you can get away with whitening teeth without a license–for now. The American Dental Association, which probably hates teeth-whitening kiosks, is working on a certification process for whitening teeth. Some states consider teeth-whitening to be the same as practicing dentistry without a license. Be aware of the regulations in your state and locality. Time/energy requirement: Expect to spend a lot of time hanging out at the mall. Heck, maybe you do that anyway. Since you don’t go anywhere, however, your actual energy output can be quite low. Income potential: This depends on what you charge. If you work five days a week and charge customers $150 per whitening, you only need two customers per day to make around $77,000 per year, according to iSmile. In real life, it’s questionable you’ll get away with charging that much per customer. Word to the wise: Position yourself somewhere busy.
Source: Business Pundit | 13 Apr 2010 | 9:18 am High Frequency’s Weinberg: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 13 Apr 2010 | 9:17 am NFIB’s Dunkelberg: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 13 Apr 2010 | 9:16 am Rochdale's Bove: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 13 Apr 2010 | 9:15 am Steven Wieting: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 13 Apr 2010 | 9:13 am Louise Yamada: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 13 Apr 2010 | 9:12 am Bernstein’s Moffet: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 13 Apr 2010 | 9:11 am WaMu executives testify before Senate, defend their job performanceTop officials say Washington Mutual was largely the victim of the housing downturn. But two former WaMu risk officers tell a Senate panel the failed savings and loan took too many chances.Former top executives at failed savings-and-loan Washington Mutual on Tuesday defended their performance in the years before the bank's 2008 collapse, saying they tried to reduce the huge risks it was taking in the subprime market and they, like virtually everyone else, failed to foresee the huge housing downturn that led to the financial crisis.
Source: L.A. Times - Business | 13 Apr 2010 | 9:08 am Silva on Stocks, Rosenstreich on Greek Debt: First WordSource: Bloomberg - All Podcasts | 13 Apr 2010 | 8:54 am Tax Tip: Use “Where’s My Refund?” To Track Your Money
You’ve probably done your taxes by now (or put them off, or evaded them). If you’re lucky enough to get a tax refund this year, the IRS has a neat website called Where’s My Refund? that lets you check your refund status online. Simply fill out this online form, and you’ll get information in as few as 72 hours. Because using Where’s My Refund? is by far the easiest way to track your tax refund that we’ve ever seen, we wanted to share some of the key components of it with you. Here are the main components of the program (from the IRS’ good fact sheet): What is it? Where’s My Refund? or ¿Dónde está mi reembolso? are interactive tools on IRS.gov and the fastest, easiest way to get information about your federal income tax refund. Whether you split your refund among several accounts, opted for direct deposit into one account, used part of your refund to buy U.S. savings bonds or asked the IRS to mail you a check, Where’s My Refund? and ¿Dónde está mi reembolso? give you online access to your refund information nearly 24 hours a day, 7 days a week. When will you know your refund status? If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return. If you file a paper return, refund information will generally be available three to four weeks after mailing your return. • Your Social Security Number or Individual Taxpayer Identification Number • Acknowledgement that your return was received and is in processing. When do you get your refund? Refund checks are normally sent out weekly on Fridays. If you check the status of your refund and are not given the date it will be issued, please wait until the next week before checking back. Note that the IRS will never send you an email asking for personal information. If you receive an email from the IRS asking for personal information, it’s probably a scam. Do not reply to it. Also not that the Where’s My Refund? site has previously had outages. Don’t be surprised if you run into delays.
Source: Business Pundit | 13 Apr 2010 | 8:25 am Hudson Castle: How Lehman Brothers Juggled MoneyBy Jacob Goldstein So there's this finance company called Hudson Castle. Lehman Brothers used to own a quarter of the firm. And, this morning's New York Times explains, the relationship between Lehman and Hudson Castle is an excellent case study of the Rube Goldberg machines that Wall Street uses to move money around -- and how the machinery failed during the financial crisis. One example, according to the NYT: 1. Hudson Castle created a special purpose vehicle called Fenway. 2. Lehman lent $3 billion to Fenway, in exchange for IOUs. 3. Fenway lent the money to a Lehman subsidiary. That loan was secured by Lehman's investment in SunCal, a California property developer that collapsed in the crisis. 4. Lehman later used the IOUs from Fenway as collateral to borrow more money from JPMorgan. Hudson Castle is now the second-largest creditor in Lehman's estate, the NYT says. A Hudson Castle spokesman told the paper that, after 2004, "all funding decisions at Hudson Castle were solely made by the management team and neither the board of directors nor Lehman Brothers participated in or influenced those decisions in any way." » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 13 Apr 2010 | 8:08 am Twitter Monetizes Using Promoted Tweets
Twitter is finally monetizing. The company will sell keywords to advertisers. When Twitter users search those keywords, an ad will appear at the top of the search results page. Fast Company has the lowdown: At first, these Promoted Tweets will only be seen on Twitter’s site, not through any client (including mobile clients like Twidroid and Tweetie as well as desktop clients like TweetDeck), and they’ll only be linked to search keywords. Use a mobile app, or use the Twitter site without searching, and you won’t see any ads–for now. But even in this early stage, businesses have more control over Twitter ads than over ads in pretty much any other medium. When a Twitter user searches for a word an advertiser bought, the promoted message will show up at the top of the results, even if it was written much earlier. The posts say they are promoted by the company in small type, and when someone rolls over a promoted post with a cursor, it turns yellow. The ads will also be a way for companies to enter the conversation when it turns negative. Several companies have created tools to measure sentiment on Twitter, but until now, businesses can do little with that information. Even if they write a post in response, it also quickly gets lost in a sea of complaints. If a new movie is getting negative reaction, the studio could use the ads to link to a positive review, for example. Despite the low odds of anyone coming up with a new kind of online monetization model, I was hoping that Twitter would figure out something more original than contextual ads. While such ads monetize, they’re annoying for users, especially when you get them on your feeds or mobile device. I do understand, however, that the company can’t wait forever to implement some kind of monetization plan. Users are used to seeing ads; Twitter is just one more place they’ll appear now. I’m curious to see how much money promoted tweets will actually make the company.
Source: Business Pundit | 13 Apr 2010 | 7:40 am Senate Investigation: WaMu Mortgages 'Infected The Entire Financial System'By Jacob Goldstein Former execs from Washington Mutual -- the thrift that got rich off bad mortgages then became the biggest failed bank in U.S. history -- are testifying in a Senate hearing today. This pre-game statement from the Senate committee gives some idea of what's on tap. Bank employees did well, even as they made loans based on fraudulent information, according to a Senate investigation: A 2005 review of loans from two of Washington Mutual's top producing retail loan officers found fraud in 58% of the loans coming from one loan officer's operations and 83% from the other. Yet those two loan officers continued working for the bank for three years, receiving prizes for their loan production. ... Employees were encouraged to get people to pay higher rates than they needed to: Loan officers and mortgage brokers were also paid more when they got borrowers to pay higher interest rates, even if the borrower qualified for a lower rate -- a practice that enriched WaMu in the short-term, but made defaults more likely down the road. ... And, investigators say, the bank sold off questionable loans without telling investors what was going on: Washington Mutual selected loans for its securities because they were likely to default, and failed to disclose that fact to investors. It also included loans that had been identified as containing fraudulent borrower information, again without alerting investors when the fraud was discovered. ... There's more to come on Friday, when the committee will hear from government regulators that were supposed to be keeping an eye on WaMu. The New York Times says that a report to be released Friday will look into infighting between the Office of Thrift Supervision and the FDIC, both of which had responsibility for Washington Mutual. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 13 Apr 2010 | 7:04 am Libel was Hard Before the Internet
Source: Business Pundit | 13 Apr 2010 | 5:32 am
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