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Cost of covering Greek debt heads ever higherThe cost of insuring Greek debt against default rose to a new high yesterday as talks in Athens began with the European Union, the European Central Bank and the International Monetary Fund over an emergency loan package. Source: Latest Business News from Times Online | 22 Apr 2010 | 6:25 am Britain's deficit hits record £163 billion - but undershoots forecastGovernment borrowing hit its highest level since records began during the 12 months to March but the figures reveal Labour has undershot its target for the year. Source: Latest Business News from Times Online | 22 Apr 2010 | 4:28 am Bad Books Cook GreeceThere was alarm in the global credit markets and among the Eurozone nations when it was discovered late last year that some of the numbers in the Greek budget were wrong. The news gave investors and potential investors in Greek sovereign debt pause. Greece’s inability to properly keep its finances and present an accurate budget have caught up [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Apr 2010 | 4:18 am House sales 'continue to pick up'House sales in the UK are continuing to experience their normal spring bounce, HM Revenue & Customs says.Source: BBC News | Business | World Edition | 22 Apr 2010 | 4:13 am Continental reports $146 million loss in 1Q (AP)AP - Continental Airlines says it lost $146 million in the first quarter as higher fuel costs offset an increase in revenue.Source: Yahoo! News: Business News | 22 Apr 2010 | 4:10 am Obama to push for financial reformPresident Barack Obama will travel to New York to argue for a financial regulatory overhaul in a speech that White House officials hope will define the closing stages of Washington’s most expensive lobbying battle in yearsSource: Financial Times - US homepage | 22 Apr 2010 | 4:09 am Ryanair backs down over expensesRyanair reverses its decision to limit the expenses payments paid to stranded passengers for food and accommodation.Source: BBC News | Business | World Edition | 22 Apr 2010 | 4:08 am Obama to Wall Street: 'Join us' in reformPresident Obama will ask the Wall Street community that he wants to reform to join in his effort.Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 4:06 am Indications: Stock futures decline as Greek worries resurfaceU.S. stock market futures point to a broadly lower open, pulling back after a further warning over the state of Greece’s economy, with investors also preparing for financial results from the likes of Verizon as well as PepsiCo.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 4:06 am Currencies: Dollar rises on debt worries over Japan, GreeceThe yen slipped in late Asian trading Thursday after Fitch Ratings said that Japan's sovereign creditworthiness was at risk from the country’s burgeoning public debt.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 4:06 am Greek budget deficit 13.6 percent of GDP in 2009 (AP)AP - Financially-stricken Greece had an even bigger budget deficit for 2009 than previously thought, official figures showed Thursday — at a time the country is considering whether to tap a bailout facility from its 15 partners in the eurozone and the International Monetary Fund.Source: Yahoo! News: Business News | 22 Apr 2010 | 4:04 am Europe Markets: European stocks fall as Greek deficit hits 13.6%Banks pressure European markets and Greece's budget deficit could be revised even higher.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 3:59 am ABB's shares fall as net profit drops 29%ABB reports a 29% drop in first-quarter profit, as its orders also fell due to weakness in the power-infrastructure business.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 3:59 am Obama pushes case for bank reformPresident Obama will tell Wall Street that his proposals to tighten government control of the banks is in its own interest.Source: BBC News | Business | World Edition | 22 Apr 2010 | 3:54 am The real outrage is how CEOs are paidIt's outrage season, formerly known as proxy season, when recession-shocked Americans get furious at the new list of insanely overpaid CEOs. The leader so far is Occidental Petroleum chief Ray Irani ($59 million), an excessive-pay hall-of-famer, but he may be overtaken by others as more proxies are filed.Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 3:51 am What the new health care law means for youBarack Obama has signed into law the most sweeping social program since L.B.J.'s Great Society initiatives, and now ... um, what happens exactly?Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 3:48 am Stocks set for weak startU.S. stocks were poised for a lackluster start Thursday, as investors digested the latest round of earnings and mulled a renewed push for financial reform.Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 3:43 am Russia raises $5.5bn on marketsRussia has raised $5.5bn (4bn euros; £3.5bn) in its first international debt sale since it defaulted in 1998.Source: BBC News | Business | World Edition | 22 Apr 2010 | 3:43 am Hyundai Motor's Q1 net profit hits record high (AP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 3:42 am Kindle: Hostage To Its Own FameAmazon (NASAQ: AMZN) announced that it would begin to sell its Kindle digital book reader in some Target (NYSE: TGT) stores. The news was viewed as a big “win” for Amazon, which has been besieged by publishers who believe it charges too little that it sells electronic books and the perception that Kindle sales will be [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Apr 2010 | 3:42 am March UK retail sales disappointRetail sales during March rose by 0.4% from the month before, a smaller rise than had been expected.Source: BBC News | Business | World Edition | 22 Apr 2010 | 3:41 am UK borrowing hits record £163.4bnGovernment borrowing hit a record high of £163.4bn this financial year, official figures have shown.Source: BBC News | Business | World Edition | 22 Apr 2010 | 3:33 am Eurostat chides Greek data as bonds slammed againThe Eurostat statistics agency on Thursday chided the quality of Greece’s budget data, saying that its budget deficit may be revised up by up to a half percentage point from an already high 13.6% on uncertainties over issues including off-market swaps.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 3:29 am Airlines Fly From Ash To Oil StormsThe IATA, the airline industry’s trade association which has over 220 members, reported that carriers lost $1.7 billion due to the Iceland volcano eruption which shut airlines service in most of Europe for almost a week. The airlines are back in the skies above the region, but it will take days for them to empty [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Apr 2010 | 3:26 am Moody's downgrades Toyota credit rating (AFP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 3:24 am Threat to 234 jobs at food plantA ready meals plant is set to close, putting 234 jobs at risk in Swansea after it fails to reach a deal with a supermarket chain.Source: BBC News | Business | World Edition | 22 Apr 2010 | 3:18 am Wall St futures signal gains, earnings in focus(Reuters) - Stocks futures rose on Thursday, pointing to a stronger start for Wall Street, with investors expected to focus on more corporate earnings to gauge the pace of economic recovery.
Source: Reuters: Business News | 22 Apr 2010 | 3:17 am Wall St futures signal gains, earnings in focus (Reuters)
Source: Yahoo! News: Stock Markets News | 22 Apr 2010 | 3:13 am Traders cautious ahead of Obama reform planDisappointing earnings forecasts out of the US and concerns about the severity of president’s financial reforms leave traders in cautious moodSource: Financial Times - US homepage | 22 Apr 2010 | 3:12 am La. oil rig survivors back on land; 11 missing (AP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 3:09 am The Online Video Streaming Business Gets Too CrowdedThere are too many companies in the business of streaming or downloading premium video over the internet. Sony (NYSE: SNE) announced that it will begin to stream major league baseball games into markets outside those where the games are played. The plan will protect the local TV stations that carry games but give baseball fans in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Apr 2010 | 3:04 am Regulator blocks France Telecom, TDC Swiss tie-upFrance Telecom’s efforts to consolidate its European operations suffers a setback on Thursday, when local regulators block a planned merger of its Swiss mobile operations with those of TDC.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 3:02 am Accusations fly as airways reopenThousands of travellers stranded by the Icelandic ash cloud began flying home as London’s Heathrow airport became the last one in the UK to open after the end of a six-day flight ban that is estimated to have cost airlines $1.7bnSource: Financial Times - US homepage | 22 Apr 2010 | 3:01 am Hyundai posts record Q1 net on emerging marketSEOUL (Reuters) - Hyundai Motor Co's strong performance in emerging economies and growing U.S. market share drove it to a record net profit in the first quarter and should cushion it from a stronger won and rising input costs.
Source: Reuters: Business News | 22 Apr 2010 | 3:00 am Nestle first-quarter sales rise 4.4 percent (AP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 2:56 am Japan exports recover after record fall (AFP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 2:55 am London Markets: Unilever, Diageo help British shares advanceBritish shares move higher on Thursday, with Unilever and Diageo gaining ground after Continental competitors put out well-received updates.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 2:51 am BofA to sell private equity portfolio to AxaGrowing regulatory pressure on banks to dispose of their buy-out interests leads to US bank announcing the sale of its $1.9bn portfolio of investments to French groupSource: Financial Times - US homepage | 22 Apr 2010 | 2:34 am Segway inventor's latest creationsDean Kamen isn't scared of failure. He is, after all, the inventor of one of the most famous flops (so far) of the 21st century: the Segway.Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 2:33 am Asian markets fall amid Greece debt worries (AP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 2:33 am Asian markets fall amid Greece debt worries (AP)
Source: Yahoo! News: Stock Markets News | 22 Apr 2010 | 2:33 am WH Smith profits rise 4% on travel outletsProfits at WH Smith rose 4 per cent to £70 million for the half year to February 28, boosted by the performance of the stationer’s outlets at airports and stations. Source: Latest Business News from Times Online | 22 Apr 2010 | 2:29 am Hedge fund boss John Paulson states his caseThe hedge fund at the center of the government's case against Goldman Sachs has defended its role in the alleged fraud, despite not having been accused of any wrong doing.Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 2:23 am Bond investors are chasing the pastWhen Liz Ann Sonders declared last June that the recession was over, her call was met with widespread derision.Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 2:23 am Nestle sales climb over 4%, topping estimatesNestle, the world’s largest food producer, on Thursday reported stronger-than-forecast comparable sales growth as it held onto its earnings outlook for the year.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 2:23 am Moody's cuts Toyota's rating one notch to Aa2Moody's also warns its rating outlook for Toyota remains negative, as the auto maker’s recent massive global recall creates uncertainty about its pricing power.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 2:16 am Home sales expected to rise in March (AP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 2:14 am Greece in focus as investors wait next move (Reuters)
Source: Yahoo! News: Stock Markets News | 22 Apr 2010 | 2:05 am Greece in focus as investors wait next moveLONDON (Reuters) - Financial markets ticked over hesitantly on Thursday with investors digesting mixed U.S. earnings results and waiting for the next move in Greece's debt crisis.
Source: Reuters: Business News | 22 Apr 2010 | 2:05 am Workers remain missing after US oil rig explosionUS Coast Guard rescuers in helicopters and boats searched the Gulf of Mexico for 11 missing workers overnight after a thunderous explosion rocked a huge oil drilling platform and lit up the night sky with a pillar of flame. Source: Latest Business News from Times Online | 22 Apr 2010 | 2:03 am How foreclosure impacts your credit scoreIf you're delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much?Source: Business and financial news - CNNMoney.com | 22 Apr 2010 | 1:54 am Credit Suisse profit edges higher, inflows improveThe Swiss bank first-quarter net profit rises 2%, helped by lower costs and a solid performance in its fixed-income trading business.
Source: MarketWatch.com - Top Stories | 22 Apr 2010 | 1:54 am eBay profits jump but shares dropProfits at online auction giant eBay rose 11% in the first quarter of 2010 but failed to meet analysts' expectations.Source: BBC News | Business | World Edition | 22 Apr 2010 | 1:46 am Obama keeps up pressure for financial overhaul (AP)
Source: Yahoo! News: Business News | 22 Apr 2010 | 1:44 am Media Digest (4/22/2010) Reuters, WSJ, NYTimes, FT, BloombergReuters: The head of GM says taxpayers may get their entire investment back. Reuters: Obama will urge tougher rules on Wall St. Reuters: The CEO of Goldman Sachs Group (NYSE: GS) attacked the SEC charges on a call with clients, according to the FT. Reuters: Profits at Starbucks (NASDAQ: SBUX) signaled a recovery. Reuters: Flights in Europe began again [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Apr 2010 | 1:39 am Deutsche Bahn agrees Arriva dealUK train and bus operator Arriva agrees to be taken over by Germany's Deutsche Bahn in a deal worth £1.59bn.Source: BBC News | Business | World Edition | 22 Apr 2010 | 1:39 am London stocks dip at open (AFP)
Source: Yahoo! News: Stock Markets News | 22 Apr 2010 | 1:39 am Punch Taverns sees profits fallThe UK's biggest pubs company, Punch Taverns, reports a fall in profits having spent £2m a month to support struggling tenants.Source: BBC News | Business | World Edition | 22 Apr 2010 | 1:36 am German rail operator to buy Arriva for £1.6bnGermany’s biggest state-owned railway company today confirmed that it will buy Britain’s Arriva in a £1.6 billion deal to create Europe’s biggest passenger transport group. Source: Latest Business News from Times Online | 22 Apr 2010 | 1:31 am eBay shares plunge in Frankfurt tradeFRANKFURT (Reuters) - Shares in internet auctioneer eBay plunged in Frankfurt floor trade on Thursday, after the company forecast results for the remainder of 2010 below Wall Street expectations.
Source: Reuters: Business News | 22 Apr 2010 | 1:28 am Business Bullet: US rules, Greece, Persimmon, WH SmithThe latest news on: US rules, Greece, Persimmon, WH SmithSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Apr 2010 | 1:05 am WH Smith lifts dividend as profits riseWH Smith, the newspapers, books and stationery retailer, has raised its dividend after cost cutting helped the company to an increase in first-half profits.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Apr 2010 | 1:03 am Box-office futures are dealt a blowA Senate panel votes to ban the proposed futures exchanges, which are opposed by studios. Don't bet on betting...Source: RSS feed - channel BNPaperBusiness | 22 Apr 2010 | 1:00 am Bruce Karatz found guilty on stock option backdating chargesThe former head of KB Home is convicted of mail fraud and making false statements. Jurors acquit him of 16 other charges.Bruce Karatz, who helped turn Westwood-based KB Home into one of the nation's most successful home builders during two decades as its chief executive, was convicted Wednesday on four felony charges related to the manipulation of executive stock options.
Source: L.A. Times - Business | 22 Apr 2010 | 1:00 am Chrysler performance exceeds expectationsThe Fiat-managed company cut its losses to $197 million and recorded a $143-million operating profit in the first quarter of the year. ...Source: RSS feed - channel BNPaperBusiness | 22 Apr 2010 | 1:00 am New Maserati masters the art of seductionWith its sultry style and easy-access power, the 2010 GranTurismo Convertible will have no trouble luring the well-heeled out of BMWs and Mercedes-Benzes — if they can afford the $140,000 price.
Source: L.A. Times - Business | 22 Apr 2010 | 1:00 am Financial regulation reform faces stiff oppositionSenate panel approves third controversial piece of overhaul package. Obama to make his case in New York on Thursday.As President Obama heads to New York City on Thursday to press for a major overhaul of financial rules, he faces stiff opposition by Wall Street to the toughest proposed regulatory crackdown since the Great Depression.
Source: L.A. Times - Business | 22 Apr 2010 | 1:00 am Bruce Karatz found guilty on stock option backdating chargesThe former head of KB Home is convicted of mail fraud and making false statements. Jurors acquit him of 16 other charges. ...Source: RSS feed - channel BNPaperBusiness | 22 Apr 2010 | 1:00 am Karatz stock-options case may resonate with an angry public.For an American public seething over the housing market crash and the financial and economic crises it triggered, Bruce Karatz's conviction Wednesday may offer some small hope that justice can and will be done in the business world.
Source: L.A. Times - Business | 22 Apr 2010 | 1:00 am Karatz stock-options case may resonate with an angry public.For an American public seething over the housing market crash and the financial and economic crises it triggered, Bruce Karatz's conviction Wednesday may offer some small hope that justice can and will...Source: RSS feed - channel BNPaperBusiness | 22 Apr 2010 | 1:00 am Chrysler performance exceeds expectationsThe Fiat-managed company cut its losses to $197 million and recorded a $143-million operating profit in the first quarter of the year.Although Chrysler Group lost $3.8 billion since emerging from bankruptcy in June, its financial performance is exceeding the expectations of many analysts who see hopeful signs that the automaker may be on the road to recovery.
Source: L.A. Times - Business | 22 Apr 2010 | 1:00 am Financial regulation reform faces stiff oppositionSenate panel approves third controversial piece of overhaul package. Obama to make his case in New York on Thursday. ...Source: RSS feed - channel BNPaperBusiness | 22 Apr 2010 | 1:00 am Box-office futures are dealt a blowA Senate panel votes to ban the proposed futures exchanges, which are opposed by studios.Don't bet on betting on the box office.
Source: L.A. Times - Business | 22 Apr 2010 | 1:00 am New Maserati masters the art of seductionWith its sultry style and easy-access power, the 2010 GranTurismo Convertible will have no trouble luring the well-heeled out of BMWs and Mercedes-Benzes — if they can afford the $140,000 price...Source: RSS feed - channel BNPaperBusiness | 22 Apr 2010 | 1:00 am Premium bonds: a squalid raffle?Your chances of winning a worthwhile prize are infinitesimally small. Vanishingly tiny.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Apr 2010 | 12:46 am Keydata: anger as income payments are frozenThousands of investors holding Keydata investments have discovered that their monthly income payments have been stopped.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Apr 2010 | 12:38 am Gold: the guarantee against a hung ParliamentSavers worried about the political risk of a hung Parliament are seeking a safe haven in gold.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Apr 2010 | 12:37 am NZ market closes 17 points downThe New Zealand sharemarket was little changed for most of today's session but slipped to close lower on a day in which markets in Asia were weak.The benchmark NZX-50 index ended down 17.508 points, or 0.53 per cent, at 3287.461...Source: nzherald.co.nz - Business | 22 Apr 2010 | 12:22 am NZ dollar little changed in quiet sessionThe New Zealand dollar continued to consolidate in a narrow range in quiet trading today.Dealers said it was quite simply a quiet day in the currency market.The NZ dollar was buying US71.06c at 5pm from US71.04c at 8am, having...Source: nzherald.co.nz - Business | 21 Apr 2010 | 11:53 pm Mining giant Anglo is on solid groundXstrata, the mining company, is now free to make another merger approach to Anglo American, it being six months since it withdrew its last merger proposal.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Apr 2010 | 11:47 pm Schwarzenegger, Villaraigosa back plans to rein in pension costsThey say public employees’ retirement packages are more generous than taxpayers can afford. Warning that...Source: RSS feed - channel BNPaperBusiness | 21 Apr 2010 | 11:01 pm Schwarzenegger, Villaraigosa back plans to rein in pension costsThey say public employees’ retirement packages are more generous than taxpayers can afford.Warning that retirement benefits for public employees are escalating out of control, Gov. Arnold Schwarzenegger and Los Angeles Mayor Antonio Villaraigosa said Wednesday that they supported controversial plans to rein in the costs.
Source: L.A. Times - Business | 21 Apr 2010 | 11:01 pm Singapore firms scramble to clear cargo backlogSingapore companies Thursday scrambled to clear a backlog of cargo including orchids and ornamental fish as Europe opened its airspace after the threat of ash clouds from a volcano eased.Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 10:11 pm NY Times, Washington Post win reporting awardsThe New York Times and The Washington Post are being honored with multiple Overseas Press Club Awards for excellence in international journalism, while The Associated Press is being cited...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 10:10 pm Automakers showcase new models at Beijing showAutomakers plan to unveil dozens of new models at the Beijing auto show this weekend as foreign producers look to surging China to drive slack global sales and local brands try to raise...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 10:09 pm Home sales expected to rise in MarchHome sales are expected to rise 5.2 percent in March, reversing three months of declines, as government incentives juiced the housing market and kicked off what's expected to be a strong...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 10:02 pm As Ash Settles, U.S. Airlines See Clear Skies (On the Street)Europe's volcano woes leave domestic carriers fairly unscathed.
Source: SmartMoney.com | 21 Apr 2010 | 10:00 pm 10 Things Human Resources Won't Tell You (10 Things)Guess what? They're not always your best advocate.
Source: SmartMoney.com | 21 Apr 2010 | 10:00 pm Finding Go-Go Growth in Tech and TrucksThe manager of one BlackRock fund sees opportunities in Microsoft and Paccar.
Source: SmartMoney.com | 21 Apr 2010 | 10:00 pm 3 Small Caps Up 100% This Year (Screens)Hough: Shares of these diminutive firms have doubled so far in 2010.
Source: SmartMoney.com | 21 Apr 2010 | 10:00 pm 20 Ways to Save Green by Going Green (Deal of the Day)Retailers offer discounts for eco-friendly practices, but savings can be slim.
Source: SmartMoney.com | 21 Apr 2010 | 10:00 pm Japan's exports rise for 4th straight monthJapan's exports rose for a fourth straight month in March as a recovering global economy drove demand for the nation's cars and gadgets. Exports jumped 43.5 percent from a year earlier...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 9:52 pm Moody's cuts Toyota rating to Aa2, outlook negativeTOKYO (Reuters) - Ratings agency Moody's Investors Service downgraded Toyota Motor Corp to Aa2 from Aa1 on Thursday and said the rating came with a negative outlook.
Source: Reuters: Business News | 21 Apr 2010 | 9:52 pm Asian markets fall amid Greece debt worriesAsian stock markets fell Thursday after a mediocre finish on Wall Street, as more worries about Greece's debt crisis eroded confidence in a world recovery. Major markets sank as much as...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 9:42 pm Goldman Sachs case may be weakened by testimony by former hedge fund execA key element of the government's allegation of fraud is contradicted by testimony from a hedge fund executive, according to a CNBC report.
Source: L.A. Times - Business | 21 Apr 2010 | 9:19 pm Goldman Sachs case may be weakened by testimony by former hedge fund execA key element of the government's allegation of fraud is contradicted by testimony from a hedge fund executive, according to a CNBC report.Source: RSS feed - channel BNPaperBusiness | 21 Apr 2010 | 9:19 pm Crafar says overseas buyers may bail him outAllan Crafar says he is locked in talks with overseas interests in an attempt to trade his way out of debt.The Crafar family owes more than $200 million to PGG Wrightson, Westpac and RaboBank after its central North Island farms...Source: nzherald.co.nz - Business | 21 Apr 2010 | 9:00 pm Feltex 'failed' by its accountants, court toldFeltex had been "failed" by the accounting firm that reviewed its financial statements, defence lawyer Paul Davison QC told the Auckland District Court today.Ernst & Young partner Stuart Painter had made an incorrect assumption...Source: nzherald.co.nz - Business | 21 Apr 2010 | 8:30 pm Families await arrival of La. rig blast survivorsA Mississippi woman says it took nine hours to find out that her crane operator husband had survived a blast on an oil platform off the Louisiana coast. Carroll Moss of Jayess, Miss.,...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 8:18 pm Facebook adds features that connect friends on other sitesWhile in Facebook, users will be able to see their friends’ comments flowing from other websites as their buddies shop, read news articles or listen to songs. ...Source: RSS feed - channel BNPaperBusiness | 21 Apr 2010 | 8:17 pm Facebook adds features that connect friends on other sitesWhile in Facebook, users will be able to see their friends’ comments flowing from other websites as their buddies shop, read news articles or listen to songs.In a move that will intensify competition with Internet search giant Google Inc., Facebook Inc. unveiled a series of new features on Wednesday designed to turn the Web into a place that connects people not pages.
Source: L.A. Times - Business | 21 Apr 2010 | 8:17 pm Spending cuts, tax cuts on wayThe government is adding another $1.8 billion in spending cuts to the $2 billion already announced, over the next four years to help get New Zealand back into surplus, Finance Minister Bill English said today.In one of a small...Source: nzherald.co.nz - Business | 21 Apr 2010 | 8:00 pm China must end property bubble, even if painful: reportBEIJING (Reuters) - China must tackle its property bubble for the sake of economic health and social stability, even if the market feels some short-term pain in the process, an official financial newspaper said on Thursday.
Source: Reuters: Business News | 21 Apr 2010 | 7:31 pm Finance moratoriums only work if there's something to save, inquiry toldMoratoria work well when there is something in a company worth saving but many of the finance companies that collapsed had flawed business models and were "wind downs", a partner from PricewaterhouseCoopers told politicians today.John...Source: nzherald.co.nz - Business | 21 Apr 2010 | 7:30 pm Rescuers search for 11 missing after oil rig blastRescuers in helicopters and boats searched the Gulf of Mexico for 11 missing workers Wednesday after a thunderous explosion rocked a huge oil drilling platform and lit up the night sky withSource: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 7:29 pm Asian markets fall in early tradingStock markets in Asia fell in early trading Thursday, after Wall Street's boost from strong earnings faded over worries about Greece's economy and a U.S. financial overhaul. The Nikkei...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 7:28 pm Citigroup steps back into the RMBS marketCitigroup is marketing the first US private bonds backed by new residential mortgages since 2008, despite ongoing uncertainty over the future of a market that was at the heart of the credit crisis. ...Source: RSS feed - channel BNPaperBusiness | 21 Apr 2010 | 7:13 pm Japan's exports rise over 40 percent from year agoJapan's exports jumped 43.5 in March from a year earlier as a recovering global economy drove demand for the nation's cars and gadgets. The result the government released Thursday marks...Source: RSS feed - channel BNewsBusiness | 21 Apr 2010 | 7:06 pm Deflation, inflation protectionYou know that stocks have a knack for climbing a wall of worry. You saw that firsthand last year, when in the midst of the global financial crisis, the Standard & Poor's 500 index skyrocketed more than 70% from its March 2009 lows.Source: Business and financial news - CNNMoney.com | 21 Apr 2010 | 6:59 pm Google reveals censor requestsIn what it calls a stand against online censorship, Google has created a tool that will let users know how often governments around the world ask the company to pass on user data or delete content from its search results and other services.Source: Business and financial news - CNNMoney.com | 21 Apr 2010 | 6:58 pm Facebook to control how you see the webFacebook has announced plans to spread its influence across the internet by weaving its service into all websites. Source: Latest Business News from Times Online | 21 Apr 2010 | 6:33 pm Interest rates to stay on hold next week, says economistASB bank economists say they expect the Reserve Bank to leave official interest rates on hold at a record low 2.5 per cent next week.This week's weaker than expected inflation data gives the bank "a bit of breathing space" they...Source: nzherald.co.nz - Business | 21 Apr 2010 | 6:30 pm The Goldman Sachs Share Price And The Wisdom Of CrowdsThere has not been any collapse of the prospects of Goldman Sachs Group (NYSE: GS), at least as far as traders are concerned. At $158.85, the stock trades well above its lows last February and in the summer of 2009. In the first case, investors were worried about the attacks on Goldman’s compensation and in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Apr 2010 | 6:27 pm GM CEO believes taxpayers could be made wholeWASHINGTON/DETROIT (Reuters) - General Motors Co believes taxpayers could recoup their entire $50 billion investment in the company although the Obama administration still expects the government to take a loss, albeit a smaller one than first thought, on the industry's 2009 bailout.
Source: Reuters: Business News | 21 Apr 2010 | 6:26 pm Allied Farmers shares up on property saleShares in Allied Farmers have risen 7.3 per cent to 7 cents in NZX trading this morning on news that was booking $3.4 million from the successful sale of properties in Queenstown, New South Wales and one undisclosed location."A...Source: nzherald.co.nz - Business | 21 Apr 2010 | 6:09 pm Netflix, Starbucks And The Resurrection Of The Middle ClassStarbucks (NASDAQ: SBUX) climbed another rung on the ladder of its recovery. The run of ever-spectacular results at Netflix (NASDAQ: NFLX) continues.The results of the two companies met at the crossroads of the new optimism of America’s middle class. It did not help Starbucks shares but the retailer of expensive coffee posted a 9% improvement in its revenue [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Apr 2010 | 6:08 pm Thriving Autonomy offers a heady bouquetForget “green shoots”. Mike Lynch likes to make his own horticultural metaphors. At the start of the year, the founder and long-serving chief executive of Autonomy said that “snowdrops” were appearing. After strong first-quarter results, he went a step further yesterday. Source: Latest Business News from Times Online | 21 Apr 2010 | 6:01 pm Northern Rock finance boss leaves amid FSA inquiryThe third senior banker at Northern Rock to be investigated by the Financial Services Authority over the bank’s cover-up of almost 2,000 bad mortgages has stepped down. Source: Latest Business News from Times Online | 21 Apr 2010 | 6:01 pm Morgan Stanley back to black with $1.8bn profit$Morgan Stanley rebounded from a difficult 2009 to report first-quarter net profits of almost $1.8 billion, at the top end of analysts$’ estimates. Source: Latest Business News from Times Online | 21 Apr 2010 | 6:01 pm Pearl & Dean sold for a pah-pah pah-pah poundPearl & Dean was sold yesterday for just £1. Source: Latest Business News from Times Online | 21 Apr 2010 | 6:01 pm Blankfein fights back on SEC caseLloyd Blankfein attacked the Securities and Exchange Commission’s fraud charges in telephone calls to clients as Goldman Sachs escalated its campaign to stem the damage to the bank’s reputationSource: Financial Times - US homepage | 21 Apr 2010 | 5:42 pm Democrats press advantage on financial reformWASHINGTON (Reuters) - Democrats in the Senate pressed forward on a sweeping regulation overhaul on Wednesday, backing a measure to drive banks from the lucrative derivatives market at the heart of the financial crisis.
Source: Reuters: Business News | 21 Apr 2010 | 5:37 pm Nuplex shares faced big fall, says Securities CommissionShares in resins manufacturer Nuplex would have plunged by as much as 30 per cent had the company informed the NZX it was in breach of its banking covenants when the information first became available to its directors, the Securities...Source: nzherald.co.nz - Business | 21 Apr 2010 | 5:30 pm NZ sharemarket down earlyThe New Zealand sharemarket was down in early trading as leading stocks Fletcher Building and Telecom both slipped.Fletcher Building reversed its gain yesterday with a 3c fall to $8.49, while Telecom edged down 1c to $2.14, and...Source: nzherald.co.nz - Business | 21 Apr 2010 | 5:03 pm Starbucks profit signals recoveryLOS ANGELES (Reuters) - Starbucks Corp , McDonald's Corp and other U.S. restaurant chains reported quarterly results showing the turnaround already priced into restaurant stocks is finally at hand.
Source: Reuters: Business News | 21 Apr 2010 | 4:52 pm Write-Offs: 04.21.10$$$ Obama ‘Categorically‘ Denies Influence in SEC’s Goldman Case [CNBC] $$$ Government Goes High-Tech To Redesign $100 Bills [AP] $$$ Family Swindled By Madoff Fights $61 Million IRS Bill [Forbes] $$$ Paulson: On The Hook? [Absolute Return] 
Source: Dealbreaker | 21 Apr 2010 | 4:46 pm Cash for appliances program starts ThursdayThe government is offering rebates on energy-saving appliances: $200 for refrigerators, $100 for clothes washers and $50 for air conditioners. Some stores will open early Thursday.The federal cash-for-clunkers program is so passe. Now the government is playing rebates-for-refrigerators and money-for-washing-machines.
Source: L.A. Times - Business | 21 Apr 2010 | 4:17 pm Summary Box: Stocks mostly rise on higher profits (AP)AP - MODEST MOVES: Most stocks rose Wednesday following stronger earnings from Apple Inc. and industrial companies like Boeing Co. The Dow Jones industrials ticked up 8 points, while broader indexes were mixed.Source: Yahoo! News: Stock Markets News | 21 Apr 2010 | 4:11 pm Stocks muddled as glow from Apple results fades (AP)
Source: Yahoo! News: Stock Markets News | 21 Apr 2010 | 4:00 pm London Trader Facing Manslaughter Charges For Killing A Guy With One Punch
Source: Dealbreaker | 21 Apr 2010 | 3:55 pm How the major stock indexes fared on Wednesday (AP)AP - The stock market stalled Wednesday after the glow of strong results at Apple Inc. and a few other companies faded. Technology and industrial shares drew buyers after Apple and Boeing Co. delivered results that topped expectations. Health care stocks lagged on concerns that new health care laws will hurt the industry's profits. Financial stocks also fell after traders speculated on the fallout from a potential overhaul of government regulations.Source: Yahoo! News: Stock Markets News | 21 Apr 2010 | 3:45 pm Apple Chart: $320 to $330 Target (AAPL, MSFT)Did you think that $275 or $300 was already a very bullish outlook on Apple Inc. (NASDAQ: AAPL) last month or even this month before its earnings report? After all, shares have already doubled from 52-week lows and the stock is up 200% from the peak of the panic selling over the last 18 months. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Apr 2010 | 3:44 pm Britain's public sector pay party is overThe economic mayhem that George Osborne warned about on Wednesday on the back of a hung Parliament will be a heck of a lot worse if such political paralysis is combined with spluttering economic growth.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Apr 2010 | 3:37 pm NYC mayor defends Wall Street before Obama visit (AP)
Source: Yahoo! News: Stock Markets News | 21 Apr 2010 | 3:35 pm General Election 2010: Industry waits as parties war over defence policyDefence companies will take a hit whoever wins the general election.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Apr 2010 | 3:29 pm Kindle Comes to Target, A Smart & Expected Move (AMZN, AAPL, TGT)Target Corporation (NYSE: TGT) issued a press release after the closing bell today that is confirming what has gone around the rumor mill for some time. The Kindle ebook reader from Amazon.com (NASDAQ: AMZN) will be sold at Target stores. If you wonder about this being an effort to undercut Apple Inc. (NASDAQ: AAPL) over [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Apr 2010 | 3:25 pm eBay Auctions Its Earnings Guidance on the Cheap (EBAY)eBay Inc. (NASDAQ: EBAY) has just found out exactly what it feels like to be stock with a still inexpensive multiple that sells off after a mixed earnings report. As this had rallied nearly 200% from trough to peak in the bear-bull cycle of the last fourteen months, this may not be any surprise. The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Apr 2010 | 3:13 pm TSX ends higher for 3rd day as golds rebound (Reuters)Reuters - Toronto's main stock index finished moderately higher in volatile trading on Wednesday, thanks to rebounding gold shares and a late afternoon turnaround by financials.Source: Yahoo! News: Stock Markets News | 21 Apr 2010 | 3:13 pm Banks, MetroPCS, Market Cycles, Credit Purge: Taking StockSource: Bloomberg - All Podcasts | 21 Apr 2010 | 3:11 pm Private-equity backed Marwyn step up to Anglo in Tarmac dealAnglo American has held a series of talks with private equity backed Marwyn Materials to sell a stake in its Tarmac business - which could value the quarries and cement maker at up to £3.9bn.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Apr 2010 | 3:06 pm Ladbrokes wins £80m from the RevenueBookmaker Ladbrokes has won an £80m cash rebate from the taxman just a day before its new chief executive Richard Glynn takes up the reins at the company.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Apr 2010 | 3:04 pm Morgan Stanley profit beats estimates, shares upNEW YORK (Reuters) - Robust fixed income trading results launched Morgan Stanley to a better-than- expected first-quarter profit on Wednesday, sending its shares up.
Source: Reuters: Business News | 21 Apr 2010 | 3:02 pm Greek bond yields hit in spite of debt talksGreek government bond yields are at the highest levels since the country joined the eurozone 12 years agoSource: Financial Times - US homepage | 21 Apr 2010 | 2:56 pm Fed adds $47.4bn to US Treasury coffersThe Federal Reserve sent $47.4bn of its 2009 profits to the US Treasury, a record payment that highlights how the US central bank was able to turn its massive intervention to rescue the financial system into a successful investmentSource: Financial Times - US homepage | 21 Apr 2010 | 2:26 pm U.S. charges Miami sports donor with $900 million fraud (Reuters)Reuters - U.S. authorities on Wednesday accused a Miami Beach, Florida, businessman of allegedly running a $900 million investment scam in which some of the defrauded investors' money was used to make donations to a local university.Source: Yahoo! News: Stock Markets News | 21 Apr 2010 | 2:04 pm Accused Soc Gen High Frequency Thief Was Headed To Tower ResearchEditor’s Note: The following is a guest post by John Carney.
Samarth Agrawal was charged yesterday with one count of theft of trade secrets, according to Bloomberg. Federal prosecutors said he made copies of the code behind Soc Gen’s proprietary trading last summer. Agrawal resigned in November, just seven months after he was promoted to be a trader at Soc Gen. He had worked as a quantitative analyst for the bank’s high frequency trading group since 2007, according to reports. A source familiar with the matter has exclusively told DealBreaker that Agrawal was scheduled to start at Tower Research Capital this past Monday. “I guess he found a home for his stolen code,” the source said. Tower Research Capital was founded by two former Credit Suisse traders in 1998, according to a Bloomberg profile from 2007. The firm uses complex computer algorithms to looks for small discrepancies from statistically predictable patters in financial markets. The computers then make bets that the discrepancy will be resolved in favor the typical pattern. Humanity is superfluous to the process, once the code is written by engineers. In 2000, the firm decided that it could not find brokers who could execute its trades fast enough—so it formed its own high frequency trading company, Lime Brokerage. Around the same time Lime Brokerage was formed, the company also built LimeWire—a file sharing system that the recording industry claimed in a lawsuit filed in 2006 is a tool for music piracy. So the accused code thief was going to work for people who built a file sharing system accused of enabling theft of intellectual property. No one alleges that Tower knew Agarwal had allegedly stolen code from Soc Gen. This is the second case brought by federal prosecutors involving the theft of quantitative code from an investment bank. A former Goldman quant was charged with stealing code a few months back. Tower Research would not comment for this story. Steven Statsinger, Agrawal’s attorney, did not immediately return a call seeking comment. Update: A spokeswoman for Tower responds:
Source: Dealbreaker | 21 Apr 2010 | 1:52 pm Presented By:Source: Dealbreaker | 21 Apr 2010 | 1:52 pm US Treasury issuance set to turn lowerFor the first time since the financial crisis began, bond traders in the US Treasury market are starting to factor in a new trend: a sharp drop in the sale of new debtSource: Financial Times - US homepage | 21 Apr 2010 | 1:29 pm Fuld: We Needed a Liquidity BailoutMore from Dick Fuld’s bizarre testimony yesterday in front of the House Financial Services Committee.
Source: Dealbreaker | 21 Apr 2010 | 1:22 pm Tesco Raised to `Hold', Vitacost.com Cut to `Hold': AudioSource: Bloomberg - All Podcasts | 21 Apr 2010 | 1:06 pm Before Getting Shut Down By The SEC, Gryphon Financial Took Time To Incorporate Goldman Case Into Sales Pitch
Waxing nostalgic on Grphy’s just now, we see that days before Mary Schapiro busted that shit up, the firm’s fictional ten-man team of Wharton and Harvard grads had mentioned Goldman’s woes in its daily newsletter, pearls of wisdom we’ll never get to read because some people are trying desperately to prove they don’t just sit around looking at trannies all day.
Source: Dealbreaker | 21 Apr 2010 | 12:54 pm Senate's regulation bill omits 3 reformsThe Senate is expected to start a floor debate on financial reform soon. Commentator Robert Reich says the bill under consideration is a good start, but lacks some important reforms.Source: Marketplace | 21 Apr 2010 | 12:40 pm A career in staying ahead of the casinosAuthor Josh Axelrad talks with Kai Ryssdal about his book "Repeat Until Rich," how he ended up as a professional blackjack player, and how card counting works.Source: Marketplace | 21 Apr 2010 | 12:40 pm Target drops Visa, will issue own cardTarget says it will stop issuing its Visa credit cards and shift to cards of its own, just for use in stores. Why? Stacey Vanek-Smith reports.Source: Marketplace | 21 Apr 2010 | 12:40 pm Farmers differ on climate change pathThe climate change debate has stirred up Midwest farmers over how to move to a carbon-free economy. Jay Field reports.Source: Marketplace | 21 Apr 2010 | 12:40 pm Senator Dodd Characterizes Suggestions That Timing Of Goldman Case and The Financial Reform Bill Are Anything But A Coincidence As “Ridiculous”
Source: Dealbreaker | 21 Apr 2010 | 12:39 pm States, online retailers feud over taxesAmazon is suing over an attempt by the state of North Carolina to target customers who've been avoiding sales taxes. Bob Moon reports.Source: Marketplace | 21 Apr 2010 | 12:34 pm Big and local banks diverge on reformBig banks are fighting like mad against financial reform, but many of the little ones think change is actually a good idea. Alisa Roth reports.Source: Marketplace | 21 Apr 2010 | 12:34 pm Some industries cheer derivatives voteThe Senate Agriculture Committee voted to bank banks from trading in derivatives. Bank lobbyists may not be pleased with the decision, but the vote recognizes that derivatives do have some legitimate uses. Brett Neely reports.Source: Marketplace | 21 Apr 2010 | 12:34 pm 10 Mistakes Men Make When Doing Business with WomenIf you’re a man working in an all-guy office, count your blessings. When it comes to communicating with women in business, many men can’t jump the sexual hurdle. This leads to snafus like holding long conversations with a pair of breasts, which no woman appreciates. If you have female superiors, want to impress someone special in your office, or simply want to come off as a respectable fellow, listen up. You could be tripping yourself up with one of the 10 mistakes below. Talking to her chest
An astounding proportion of men can’t yank their eyes away from women’s chests. You can only get away with this kind of thing if you’re Brad Pitt or a congressman. Women almost expect a cursory glance, but focusing on boobs well into a conversation is insulting. Even if they’re big and well-shaped, even if they spark your wildest fantasies, don’t talk directly to them. They will not respond. Hiring for sex
Some men think that surrounding themselves with attractive women will up their chances of getting lucky. Like trying to sell condoms to Catholic schools, this idea will sorely backfire. You’ll spend hours staring at the low-hanging fruit in front of you, but have no way to get to it. Assuming that you hired more for looks than capability, your team dynamic will also suffer. That’s not mentioning the pain of constant rejection. Hire for capability first; beauty is merely a bonus. Pretending you know her
Say you had a casual lunch with the apple of your office eye. Don’t go back and tell your buddies she has the hots for you, unless you’re 200% sure there’s actual chemistry. Ditto for telling everyone that you like her. Otherwise you risk alienating her, turning her friends against you, and looking like the office pervert. Thinking she’s flirting
A smiley-face emoticon does not mean she likes you. Playing with her hair once during a conversation doesn’t, either. Nor does a single compliment. If you think she’s flirting with you, and you like her, gather evidence. Think multiple compliments, lots of hair twirling, or a daily trip past your desk. Talking dirty If your mind frequently hangs out in the gutter, avoid logging onto email or IM to express those thoughts. You will disgust any female who reads it. Digital dirty chats also put anything that could be perceived as harassment on record. While “I’m getting off at 6″ is a perfectly acceptable email message, “You’re getting me off at 6″ isn’t. Note the fine line, and do not cross it. The same goes for forwarding dirty emails. Dumbing down
Some men see a woman, especially a blond, and instantly dumb down the way they talk. That means talking slowly, explaining things twice, or pausing a lot to see if she understood. Most women are repelled by this behavior. Assume every woman is cerebrally competent until she proves you otherwise. If anyone, woman or man, proves to be slow on the pick up, then adjust your style.
This is otherwise known as invisible woman syndrome. Faced with a group of men and women, some men choose only to talk to other men. The woman may listen attentively and be an important part of the conversation, but the speaker won’t make eye contact. This makes women feel like non-entities in the conversation. It also makes you look disrespectful. Don’t make other guys your only points of contact. Helping too much
If you immediately assume that every woman is technically incompetent, you’ll make some easy enemies. Most women don’t need their hands held. You don’t have to update her software for her, adjust the height of her desk chair, help her figure out how to plug an equation into a spreadsheet. If she asks, fine. But don’t preempt her by assuming she can’t do it. Using alcohol as an excuse
If you like boozing it up at the office happy hour, don’t use your lack of inhibition as an excuse to pounce. That includes slapping her butt, copping a feel, or even putting your arm around her. Make sure you know each other first. Staring
She’s wearing a sheer blouse and short skirt. You can practically feel her skin pressed against you. Your eyes can’t move. Abort! If you must stare, keep it covert. Gawk, and she’ll think you’re a creep.
Source: Business Pundit | 21 Apr 2010 | 12:13 pm Irwin Discusses Net Neutrality, Comcast v. FCC: BLAWSource: Bloomberg - All Podcasts | 21 Apr 2010 | 12:12 pm Brazil and India add to pressure on ChinaWith strong statements from Indian and Brazilian central banks, more G20 countries join US in call for stronger renminbi ahead of important meeting of finance ministers and central bank heads in WashingtonSource: Financial Times - US homepage | 21 Apr 2010 | 12:07 pm Pitt Thinks SEC is Betting the House With Goldman
In a column for The Daily Beast, Pitt says the SEC erred in not notifying Goldman or having settlement discussions with them before making the suit public. He also points tout that a split vote by SEC commissioners on whether to pursue the Goldman charges doesn’t help the agency’s credibility in the matter. It’s pretty clear that, if Pitt had been in charge, he would hesitate to bring the Goldman charges. It should be noted that Pitt’s firm, Kalorama Partners, once advised John Paulson on regulatory matters regarding mortgage securities. In an editor’s note on the site, Pitt said, “I had no involvement in these transactions nor with the SEC’s decision whether, and whom, to sue. My article doesn’t mention Paulson or discuss its role, other than to paraphrase the SEC’s allegation.” From The Daily Beast
Source: Dealbreaker | 21 Apr 2010 | 11:25 am IMF needs no sympathy over bank taxesThe fund has long been an advocate and public opinion is now behind the ideaSource: Financial Times - US homepage | 21 Apr 2010 | 11:14 am Presented By:Source: Dealbreaker | 21 Apr 2010 | 11:10 am Jamie Dimon Not The Only CEO Whose Commencement Address Is Being Protested
They apparently don’t give a rat’s ass that Citi had a profitable first quarter and they’re seething at the perceived notion that Vik doesn’t jibe with the “the spirit of what public affairs is supposed to be,” like a their top picks– Stephen Colbert and Hil and Bubba Clinton. They also say this isn’t about the financial crisis, they’ve just never liked Wall Street period, ’cause of the bonuses (“[Pandit] represents an industry that, even when it was stable and not in crisis, paid itself outrageous salaries,” fumed Daniel Safran-Hon, 29). And while they may not have said it, there’s likely a sizable group of students not too keen on hearing Pandito, who has four degrees from Columbia and is a trustee, use his favorite word (“global”) and variants thereof (“globality,” “globalness,” “globes in your face,” “globes deep”) 983 times over the course of his speech. Unlike the organizers at Syracuse, protesting Jamie Dimon’s speaking engagement, no dance party or Facebook protests have been scheduled. Yet.
Source: Dealbreaker | 21 Apr 2010 | 11:10 am The New $100 Bill: Colorful and Counterfeit-Proof
The US Department of the Treasury unveiled the new $100 bill today. This most colorful of bills features updated details, including a 3-D security ribbon and a holographic bell in the inkwell, that will make it harder to counterfeit. The Treasury Dept. has created a fun interactive video that lets you explore the new $100 bill in detail. The $100 bill was last updated in 1996. I shudder to think what the Treasury spent creating this pretty new bill, but then again, it sure beats the new penny they unveiled a couple of years back.
Source: Business Pundit | 21 Apr 2010 | 10:36 am New $100 Bill: Bells! Ribbons!By Jacob Goldstein The government just posted pictures of the new $100 bill. Here's what it looks like.   The $100 is a favorite of counterfeiters, for obvious reasons, and the government's rolling out new bills to try and make life harder for them. It seems like the old antibiotics-versus-bacteria thing, where the pathogens/counterfeiters are always catching up to the drugs/government. Here's a brief description from the feds of some of the (literal) bells and (metaphorical) whistles on the new bills: The blue 3-D Security Ribbon on the front of the new $100 note contains images of bells and 100s that move and change from one to the other as you tilt the note. The Bell in the Inkwell on the front of the note is another new security feature. The bell changes color from copper to green when the note is tilted, an effect that makes it seem to appear and disappear within the copper inkwell. The new hundreds will enter circulation in February of next year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 21 Apr 2010 | 10:15 am Unsurprisingly, Morgan Stanley Reports Trading Profits
Morgan Stanley is the final big US bank to report a profitable Q1 2010. Like Citi, Goldman Sachs, BofA, and Chase, Morgan Stanley made the bulk of its revenues from trading. The Wall Street Journal has more: Morgan Stanley said a jump in fixed-income trading revenue helped drive first-quarter earnings that easily beat analysts’ forecasts, as the investment bank reported results for its first period with James Gorman as chief executive. The bank, earlier criticized for pulling back on trading at the wrong time, racked up $4.1 billion in sales and trading revenue during the quarter, compared with $1.4 billion in the year-earlier period. The strong results come after Morgan Stanley hired hundreds of traders late last year to help regain market share lost when it scaled back risk during the financial crisis. Morgan Stanley reported net income of $1.85 billion, or 99 cents a share, for the three months to March 31, compared with a year-earlier loss of $17 million, or 57 cents a share. Earnings were $1.03 a share on a continuing-operations basis and included a $382 million benefit associated with prior-year undistributed earnings of some subsidiaries that were reinvested abroad. At Morgan Stanley’s institutional securities business, which includes capital markets and investment banking, revenue more than tripled while the segment swung to a $2.07 billion profit from a $464 million loss. Those investment profits don’t make Morgan Stanley infallible. They just lost big on a casino stake, and had to pay Discover Financial Services a handsome settlement. Still, with 400 or so new traders, Morgan Stanley has upped its odds of making up for any losses–as long as that crucial Fed-engineered interest rate spread stays in place.
Source: Business Pundit | 21 Apr 2010 | 10:11 am Peabody, Holland, Levitt, Wien, Ader: Bloomberg SurveillanceSource: Bloomberg - All Podcasts | 21 Apr 2010 | 10:07 am David Trone, Author Zuckerman: Bloomberg On the EconomySource: Bloomberg - All Podcasts | 21 Apr 2010 | 10:06 am Derrick on Greece, Dollar; Gillis on Tech Earnings: First WordSource: Bloomberg - All Podcasts | 21 Apr 2010 | 7:49 am All About National Administrative Professionals’ Day 2010
Always be nice to secretaries. They are the real gatekeepers in the world. -Anthony J. D’Angelo National Administrative Professionals’ Day happens on April 21, 2010. This day celebrates the more than 4 million administrative assistants and secretaries working in the US, as well as the nearly 9 million people working in support roles. What is it? Formerly known as Secretary’s Day, National Administrative Professionals’ Day recognizes the work of the admins, receptionists, and other support staff in your office. It was founded in 1952 as a way to encourage more people to become secretaries. What gifts should I give? If you’re giving your admin a gift, here’s what the International Association of Administrative Professionals suggests: -A handwritten thank-you card.
Source: Business Pundit | 21 Apr 2010 | 7:35 am When Is It Better To Rent Than To Buy?By Jacob Goldstein If you're trying to decide whether to rent a home or buy one, here's a useful back-of-the-envelope calculation: 1. Take the price of a home you'd be likely to buy. 2. Divide the price by 20. 3. Compare the result to the annual rent on a comparable home. If the result is higher than the annual rent, renting is probably a better deal. A quick example: Take a $500,000 home. If you divide the price by 20, you get $25,000. So if the annual rent is less than $25,000 -- that's a monthly rent of roughly $2,100 -- there's a good chance you're better off renting. As a story in this morning's NYT notes, the ratio was higher than 20 in much of the country during the past decade -- during the bubble, the price of buying rose a lot faster than the price of renting. But now, the ratio has fallen below 20 in many places, suggesting that buying is now often a better deal. (Here's a useful graph of how the cost of renting-versus-owning has changed.) Of course, the rent ratio is just one factor, and there are (obviously) all kinds of variables to consider -- how long you're going to stay in a place, what's going to happen in the real estate market, and all the intangibles associated with both renting and owning. Still, I'm a sucker for a rule of thumb. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 21 Apr 2010 | 6:55 am If You’re in the Field, You Know This is True
Image: KeriSmith.com
Source: Business Pundit | 21 Apr 2010 | 5:41 am
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