|
|
|
|
ECB's Weber urges swift Greek aid to prevent contagionBERLIN (Reuters) - ECB Governing Council member Axel Weber said on Thursday the impact of any Greek debt default on other states would be "incalculable" and urged quick approval of an aid package to prevent market upheaval and contagion to other states.
Source: Reuters: Business News | 29 Apr 2010 | 4:14 am Indications: Futures higher with data, earnings in focusU.S. stock futures move higher on Thursday, as sentiment continues to get a boost from a Federal Reserve commitment to keep rates low and focus takes a break from sovereign debt worries.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 4:09 am Fed pledge soothes market irritationAgitation subsided across bourses on Thursday after the US Federal Reserve, and more good earnings, provided some soothing balm to counteract the market’s sovereign debt irritantSource: Financial Times - US homepage | 29 Apr 2010 | 4:04 am As Google Leaves China, Baidu Earnings Rocket 165%Google (NASDAQ: GOOG) may not have been gone from mainland China for long, but Baidu’s earnings showed why the American search company never had much of a chance to be a big player in the People’s Republic. Baidu trades near its 52-week high at $621. Its market cap is $22 billion, about the same as the much larger Yahoo! [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Apr 2010 | 4:03 am Wall Street reform: Let the debate beginThe Senate officially kicked off debate of Wall Street reform on Wednesday evening.Source: Business and financial news - CNNMoney.com | 29 Apr 2010 | 4:02 am 24/7 Wall St. Exclusive: GE CEO Jeff Immelt Interview (GE)General Electric Co. (NYSE: GE) held its 2010 annual shareholder meeting on Wednesday in Houston. 24/7 Wall St. was given a private interview with Jeff Immelt, Chairman and CEO of GE, before the start of the annual meeting. While there was no formal action announced on the dividend, not yet at any rate, I asked [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Apr 2010 | 4:01 am Stocks headed for early gainsU.S. stocks were headed for a positive open Thursday, as investors remained upbeat following the Federal Reserve's vow to keep interest rates low.Source: Business and financial news - CNNMoney.com | 29 Apr 2010 | 3:59 am Prudential gets Korea anti-trust nod for AIA deal: FTC (Reuters)Reuters - Prudential Plc has secured South Korean anti-trust approval for its planned $35.5 billion takeover of American International Group Inc's Asian life insurance business, a Korean Fair Trade Commission (FTC) official told Reuters on Thursday.Source: Yahoo! News: Business News | 29 Apr 2010 | 3:59 am Prudential gets Korea anti-trust nod for AIA deal: FTCHONG KONG/SEOUL (Reuters) - Prudential Plc has secured South Korean anti-trust approval for its planned $35.5 billion takeover of American International Group Inc's Asian life insurance business, a Korean Fair Trade Commission (FTC) official told Reuters on Thursday.
Source: Reuters: Business News | 29 Apr 2010 | 3:59 am Finance directors need chameleon-like skills to survive recessionBoardroom casualties in the recent recession have been extensive, with executives having to diversify to survive.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 3:58 am Goldman set to settle SEC fraud case soon: reportLONDON (Reuters) - Goldman Sachs may soon settle its fraud case with the U.S. regulator, the New York Post reported on Thursday, opting to end a legal fight rather than endure a repeat of the public flogging it received this week.
Source: Reuters: Business News | 29 Apr 2010 | 3:51 am Goldman set to settle SEC fraud case soon: report (Reuters)
Source: Yahoo! News: Stock Markets News | 29 Apr 2010 | 3:51 am Europe Markets: Unilever, Siemens help Europe shares advanceSiemens and Unilever stocks advance after reporting earnings, and markets in Greece and other peripheral European countries also move higher.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 3:50 am Give people the tools to build a successful careerJames Caan believes unemployment can be reduced significantly by offering workers the chance to retrain.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 3:46 am ArcelorMittal returns to first-quarter profitArcelorMittal, the world’s largest steel producer, reports a return to first-quarter profit as the global economy recovered, boosting demand for its products. The company also forecasts a rosier second quarter.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 3:46 am World stocks mixed amid caution over Europe crisis (AP)
Source: Yahoo! News: Stock Markets News | 29 Apr 2010 | 3:45 am HMV hopes to cut a dash with new fashion range as sales fallHMV is hoping to turn around a sharp decline in fourth-quarter sales with a move into fashion when it launches an “entertainment-inspired” clothing range in May. Source: Latest Business News from Times Online | 29 Apr 2010 | 3:45 am BASF warns on recovery, as profit beats estimatesGerman chemical giant reports Thursday a higher-than-expected profit for the first quarter, but it cautions that the economic rebound will “become slower and increasingly uneven” during the year.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 3:44 am Eurozone Nations Can Bail out Their Banks Or GreeceThere are several reports that Evolution Equities and Barclays have estimated the cost of a Greek default to Europe’s banks over three years . One of the reports, from the Guardian, says that the exposure, mostly in the UK, France, and Germany, is $240 billion. France has $75 billion in exposure and Germany’s is $45 billion. That [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Apr 2010 | 3:34 am German jobless rate falls sharply in April (AFP)
Source: Yahoo! News: Business News | 29 Apr 2010 | 3:30 am Unilever reports 33 percent rise in Q1 profit (AP)AP - Unilever NV, the maker of Lipton tea, Dove soap and Ben & Jerry's ice cream, reported a 33 percent rise in first quarter net profit on Thursday, as the company boosted sales and took market share from rivals by slashing prices.Source: Yahoo! News: Business News | 29 Apr 2010 | 3:29 am Oil eases in Asian trade (AFP)
Source: Yahoo! News: Business News | 29 Apr 2010 | 3:27 am House price inflation hits 10.5%House prices in the UK have risen by 10.5% in the past year, according to the Nationwide building society.Source: BBC News | Business | World Edition | 29 Apr 2010 | 3:25 am Europe 'must act fast' on GreeceGreece risks becoming "the Lehman Brothers of the sovereign debt crisis", a senior former minister tells the BBC.Source: BBC News | Business | World Edition | 29 Apr 2010 | 3:23 am Credit-rating agencies loom large in Europe crisis (AP)AP - The rating agencies that sort good investments from junk are once again injecting fear into financial markets. Only this time it's for warning investors about a possible threat — Europe's debt crisis — rather than for failing to see one coming.Source: Yahoo! News: Business News | 29 Apr 2010 | 3:11 am Santander profits rise despite Europe’s woesThe eurozone’s biggest bank by market capitalisation reports a 5.7 per cent rise in net profit to €2.21bn in the first quarter from €2.10bn in the same quarter of 2009Source: Financial Times - US homepage | 29 Apr 2010 | 3:08 am Global markets mark time in face of Greek aid impasseGlobal stock markets marked time on Thursday, wary of talk of increased aid for Greece after Spain became the third eurozone country this week to have its debt downgraded.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 3:07 am HD television lifts fortunes of BSkyBThe popularity of high-definition television services has helped to boost revenue at BSkyB after the broadcaster cut the price of its HD+ service. Source: Latest Business News from Times Online | 29 Apr 2010 | 3:07 am Unilever's first-quarter profit rises 33%Europe’s largest consumer-goods firm sees better profit, helped by the introduction of key brands in new markets, but cautions that the environment will get tougher later this year.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 3:06 am Should you build your own portfolio?Question: Our retirement savings plan at work now offers several target-date retirement funds. I'm about 20 years from retirement, and I'm wondering whether I should consider one of these funds or try to keep a diversified portfolio on my own? -- Michael P., Chillicothe, OhioSource: Business and financial news - CNNMoney.com | 29 Apr 2010 | 3:03 am London Markets: Earnings help U.K. shares stage mild advanceEarnings from household-products and food producer Unilever and satellite-broadcasting firm British Sky Broadcasting helped British shares post mild gains on Thursday.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 3:03 am British house prices rise 1 percent in April (AP)AP - Average house prices in Britain rose 1 percent from March to April, pushing the average sale price 10.5 percent higher than a year earlier, a major mortgage lender said Thursday.Source: Yahoo! News: Business News | 29 Apr 2010 | 3:02 am Gazprom's Q4 2009 net profit rises tenfold (AP)AP - Russia's largest gas producer Gazprom says its net profit in the fourth quarter of 2009 rose nearly tenfold compared to a year ago as its gas sales picked up.Source: Yahoo! News: Business News | 29 Apr 2010 | 3:01 am Wall Street futures signal gains, earnings in focus(Reuters) - Stock futures pointed to a stronger start for Wall Street on Thursday, adding to gains in the previous session after a pledge by the Federal Reserve to keep rates low, with investors expected to focus on further corporate earnings.
Source: Reuters: Business News | 29 Apr 2010 | 3:00 am Wall Street futures signal gains, earnings in focus (Reuters)
Source: Yahoo! News: Stock Markets News | 29 Apr 2010 | 3:00 am Spanish Unemployment Moves Above 20%, Europe Numbers Not CredibleSpanish unemployment was higher than estimated in the first quarter which means that its credit crisis may be getting worse more quickly then believed. Information from Spanish newspaper ABC.es and translated by Zerohedge says that “the unemployment rate in the first quarter rose to 20.05%. It is the first time since 1997 that exceeds the benchmark [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Apr 2010 | 3:00 am Standard Life beats forecasts with 30 percent sales leapLONDON (Reuters) - British insurer Standard Life beat forecasts with a 30 percent rise in first-quarter sales, helped by growth in corporate pensions and in its core retail products, as UK consumers shrugged off economic woes.
Source: Reuters: Business News | 29 Apr 2010 | 2:58 am He ditched a $500,000 salary to teachWhen Gary Buslik graduated from college with a degree in English, his parents were concerned about how he'd earn a decent living. "It worried them to hear me quoting Shakespeare," he jokes.Source: Business and financial news - CNNMoney.com | 29 Apr 2010 | 2:56 am Banco Santander posts upbeat profit, Brazil growthShares of Banco Santander get a slight lift on Thursday after the Spanish bank reports upbeat first-quarter results driven by growth in Brazil and an ease in bad-loan losses.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 2:56 am Sunken oil rig leaking 5,000 barrels a daySource: Business and financial news - CNNMoney.com | 29 Apr 2010 | 2:45 am HMV set for fashion roll out as UK sales fallMusic retailer HMV is to start selling clothes in all its UK stores by July as it seeks to revitalise after a "difficult" fourth quarter.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 2:34 am Feel-good plastic that fades awayA thousand miles off the coast of California floats the Great Pacific Garbage Patch, a mass of plastic trash whose exact size is unknown but some experts say is bigger than Texas. Where does it come from? Some of it can be traced back to the U.S. Only 7% of the plastic Americans consume gets recycled. The bulk is thrown into landfills or, worse, into our rivers, lakes, and oceans, where fish consume toxins that attach to the plastic. Then we consume the fish. Not good.Source: Business and financial news - CNNMoney.com | 29 Apr 2010 | 2:34 am Sanofi-Aventis 1st quarter profit up 8.6 percent (AP)AP - Sanofi-Aventis reported Thursday an 8.6 percent increase in first quarter net profit thanks to its swine flu vaccine and strong sales of diabetes treatment Lantus.Source: Yahoo! News: Business News | 29 Apr 2010 | 2:33 am Economic Report: British April house prices up 1%: NationwideThe average British house price rises by a seasonally-adjusted 1% in April, aided by tight supplies of properties for sale, mortgage lender Nationwide says Thursday.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 2:30 am China yuan undervalued, but not only solution: IMFSHANGHAI (Reuters) - China's yuan remains undervalued, but increased currency flexibility is just part of a range of policies needed for rebalancing in Asia, the International Monetary Fund (IMF) said on Thursday.
Source: Reuters: Business News | 29 Apr 2010 | 2:25 am Siemens raises outlook as profit jumps 54%German industrial conglomerate Siemens reports on Thursday a 54% rise in fiscal second-quarter profit and raises its earnings outlook for the full year.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 2:25 am Business Bullet: Asia, Italy, Whitbread, BSkyBThe latest news on: Asia, Italy, Whitbread, BSkyBSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 2:24 am Oil spill off US coast ‘five times worse than we thought’, officials admitBP said that it was escalating its response to a worsening oil spill in the Gulf of Mexico as US officials warned that the amount of crude leaking from the sunken Deepwater Horizon rig was five times greater than originally thought. Source: Latest Business News from Times Online | 29 Apr 2010 | 2:23 am In financial regs debate, senators look to details (AP)
Source: Yahoo! News: Business News | 29 Apr 2010 | 2:22 am Obama to name Yellen as Fed's No. 2 (AP)
Source: Yahoo! News: Business News | 29 Apr 2010 | 2:20 am Too hot to handle?Russian firms have second thoughts about IranSource: BBC News | Business | World Edition | 29 Apr 2010 | 2:18 am Worst-hit metro areas for foreclosuresForeclosure filings declined in more than half of the country's worst-hit spots in the first three months of 2010. But that doesn't mean the healing has begun.Source: Business and financial news - CNNMoney.com | 29 Apr 2010 | 2:12 am Unilever reports jump in profitsUnilever, the maker of Lipton tea and Ben & Jerry's ice cream, posted a 28pc rise in first-quarter pre-tax profit to €1.39bn (£1.2bn) as good sales growth and stronger margins offset lower selling prices.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 2:07 am Peter Brimelow: Paranoid bear has met enemy, still bearishDennis Slothower of Stealth Stocks Daily Alert had a brilliant 2008, one of the few letters to avoid the Crash. Since then, while he's not a permabear, he's been very skeptical of the rally.
Source: MarketWatch.com - Top Stories | 29 Apr 2010 | 2:01 am Coffee sales give Whitbread a boostWhitbread, operator of Premier Inn budget hotels, said full-year profits rose 6.6pc as sales at its Costa Coffee chain surged.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 2:00 am Media Digest (4/29/2010) Reuters, WSJ, NYTimes, FT. BloombergReuters: Hewlett-Packard (NYSE: HPQ) will gamble on the smartphone industry with its buyout of Palm (NADSAQ: PALM) Reuters: The oil spill from a BP plc (NYSE: BP) rig is close to shore. Reuters: Obama picked Janet Yellen to be the vice chairman of the Fed. Reuters: Oil held steady above $83. Reuters: Apple (NASDAQ: AAPL) may charge [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Apr 2010 | 1:54 am HP to buy Palm for $1.2 billionHewlett-Packard announced Wednesday that it would buy struggling smart phone maker Palm for $1.2 billion.Source: Business and financial news - CNNMoney.com | 29 Apr 2010 | 1:53 am House price growth hits three-year highHouse price growth has broken the double-digit barrier for the first time in almost three years, suggesting that confidence in the market has returned. Source: Latest Business News from Times Online | 29 Apr 2010 | 1:46 am Sky extracts record amount from subscribersStrong demand for high definition services enabled British pay-TV firm BSkyB to add 62,000 net new customers in the third quarter of the year and extract a record amount from each subscriber.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 1:32 am London stocks rise (AFP)
Source: Yahoo! News: Stock Markets News | 29 Apr 2010 | 1:32 am Apple may charge $1 million to display mobile ads: report(Reuters) - Apple Inc may charge about $1 million for displaying advertisements on its mobile devices, the Wall Street Journal said, citing advertisement executives.
Source: Reuters: Business News | 29 Apr 2010 | 1:29 am Investors wait on Greece rescueThe euro halts its fall against the dollar as investors wait for more details on a rescue package for the Greek economy.Source: BBC News | Business | World Edition | 29 Apr 2010 | 1:23 am Greek crisis: Athens to AshesThe Greek horror story should scare us all, says Edmund Conway. Its problems are not unique.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 1:22 am BG profits hit by gas glutBG Group, the British gas producer, reported a 5pc fall in first-quarter net profits to $960m (£630m), as a glut in the global gas market hit gas prices.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Apr 2010 | 1:18 am Whitbread reports rise in profitsUK hotel and restaurant group Whitbread says its pre-tax profits rose to £239m in the year to March.Source: BBC News | Business | World Edition | 29 Apr 2010 | 1:03 am WellPoint's profit jumps 51%First-quarter revenue for the parent of Anthem Blue falls slightly. CEO Angela F. Braly says the company's rate hike delay in California hurt results.An uproar over hefty rate hikes for Anthem Blue Cross customers in California is taking a bite out of the insurer's revenue, but its parent company nonetheless reported soaring profit Wednesday.
Source: L.A. Times - Business | 29 Apr 2010 | 1:00 am Hewlett-Packard to swallow Palm in $1.2-billion dealHP taps into the smart phone market with the acquisition of struggling Palm. Hewlett-Packard Co. plans to buy...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am Investors bet that good times are ahead for REITsShares of real estate investment trusts have been surging lately despite declining rents and occupancy. Even though...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am 2011 Toyota Sienna review: Family hauler gets a stylish overhaulEven forgetting it’s a minivan (which you can’t), the new Toyota Sienna is fun to drive.Unless you've been living under a floor mat for the last six months, you know times have been tough for Toyota.
Source: L.A. Times - Business | 29 Apr 2010 | 1:00 am CB Richard Ellis cuts loss, boosts revenueLos Angeles-based commercial real estate brokerage CB Richard Ellis meets Wall Street predictions, expects further improvement. ...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am Sempra to pay $400 million to settle energy crisis gaming complaintGov. Schwarzenegger and Atty. Gen. Jerry Brown announce settlement of a complaint accusing Sempra of "Enron-style gaming" in the 2000-01 energy crisis. Sempra denies wrongdoing. ...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am Greece's fiscal woes threaten the U.S.A widening financial crisis in Europe is threatening to put a damper on the economic recovery in the U.S. and abroad just as the American economy is gathering steam.
Source: L.A. Times - Business | 29 Apr 2010 | 1:00 am Republicans agree to debate financial reform in full SenateA concession by Democrats and the GOP’s growing awareness of public anger over Wall Street’s role in the financial crisis apparently help end a delaying tactic on the proposed regulatory overhaul.Ending three straight days of solid opposition, Senate Republicans agreed Wednesday to start a full-scale debate on the most far-reaching proposals to toughen regulation of financial institutions since the Great Depression.
Source: L.A. Times - Business | 29 Apr 2010 | 1:00 am Hewlett-Packard to swallow Palm in $1.2-billion dealHP taps into the smart phone market with the acquisition of struggling Palm.Hewlett-Packard Co. plans to buy smart phone maker Palm Inc. — which helped spark the mobile digital revolution with its renowned PalmPilot device in the mid-1990s — in a cash deal for $1.2 billion.
Source: L.A. Times - Business | 29 Apr 2010 | 1:00 am Lawmaker defends law banning sale of violent video games to minorsState Sen. Leland Yee says gory games are particularly harmful to children and the purchase of them should be restricted to adults, just like pornography.Leland Yee didn't intend to become the frontman for the crusade against video game violence.
Source: L.A. Times - Business | 29 Apr 2010 | 1:00 am 2011 Toyota Sienna review: Family hauler gets a stylish overhaulEven forgetting it’s a minivan (which you can’t), the new Toyota Sienna is fun to drive. Unless you've...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am Sempra to pay $400 million to settle energy crisis gaming complaintGov. Schwarzenegger and Atty. Gen. Jerry Brown announce settlement of a complaint accusing Sempra of "Enron-style gaming" in the 2000-01 energy crisis. Sempra denies wrongdoing.Sempra Energy has agreed to pay $400 million to settle accusations that the San Diego energy company engaged in "Enron-style gaming" of power markets and "a pervasive pattern of market manipulation and abuse" during the California energy crisis of 2000 and 2001.
Source: L.A. Times - Business | 29 Apr 2010 | 1:00 am Republicans agree to debate financial reform in full SenateA concession by Democrats and the GOP’s growing awareness of public anger over Wall Street’s role in the financial crisis apparently help end a delaying tactic on the proposed regulatory overhaul...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am Bill would limit NHTSA officials’ moves to auto industrySen. Barbara Boxer’s bill would prevent some officials from taking certain auto industry jobs for three years after quitting the safety agency. The effort stems from the Toyota recall controversy...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am Northrop Grumman profit rises 21% in first quarterNet income of $469 million is up from $389 million in the same period last year, prompting the aerospace giant to raise its full-year earnings forecast. ...Source: RSS feed - channel BNPaperBusiness | 29 Apr 2010 | 1:00 am High definition surge lifts BSkyBPay-TV group BSkyB says pre-tax profits more than doubled to £707m during the nine months to March.Source: BBC News | Business | World Edition | 29 Apr 2010 | 12:49 am Bayer posts 63.1 pct rise in first quarter profitGerman chemical company Bayer reported on Thursday a 63.1 percent increase in first quarter profit to 693 million euros (913.8 million dollars) as business picked up in its ailing materialsSource: RSS feed - channel BNewsBusiness | 29 Apr 2010 | 12:46 am Steelmaker ArcelorMittal returns to profitArcelorMittal SA, the world's largest steel maker, said Thursday it swung to a profit of $679 million in the first quarter compared to a loss a year earlier and predicted the recovery will...Source: RSS feed - channel BNewsBusiness | 29 Apr 2010 | 12:45 am NZ market finishes flatThe New Zealand sharemarket was flat today after official interest rates in this country and in the United States were left unchanged.The Reserve Bank left the New Zealand official cash rate at 2.5 per cent, with Governor Alan...Source: nzherald.co.nz - Business | 29 Apr 2010 | 12:41 am Germany's Bayer posts 63 pct rise in Q1 net profitGerman chemical and pharmaceutical company Bayer AG says first quarter net profit rose 63 percent as sales increased more than 5 percent. The company, famous for its Bayer aspirin,...Source: RSS feed - channel BNewsBusiness | 29 Apr 2010 | 12:39 am Siemens posts quarterly profit of 1.5 bln eurosGerman industrial group Siemens posted a better-than-expected second quarter net profit Thursday and raised its full-year operating profit target as it capitalised on efficiency measures.Source: RSS feed - channel BNewsBusiness | 29 Apr 2010 | 12:36 am HP to buy Palm in bet on smartphone arenaSAN FRANCISCO (Reuters) - Hewlett-Packard Co announced a $1.2 billion deal to buy Palm Inc , betting it can resuscitate the struggling smartphone maker to compete with the likes of Apple Inc and RIM .
Source: Reuters: Business News | 29 Apr 2010 | 12:32 am Mass. Cape Wind gets thumbs up, thumbs downWith federal approval behind them, developers of what would be the nation's first offshore wind farm still have a tough journey ahead before finally producing power in the waters off Cape...Source: RSS feed - channel BNewsBusiness | 29 Apr 2010 | 12:31 am St Laurence goes into receivershipAnother finance company has collapsed with Perpetual Trust today appointing Barry Jordan and David Vance of Deloitte as receivers of St Laurence to protect the interests of 9000 investors owed $245 million.The receivers took control...Source: nzherald.co.nz - Business | 29 Apr 2010 | 12:25 am NZ dollar fallsThe New Zealand dollar fell today after the Reserve Bank of New Zealand (RBNZ) left the official cash rate unchanged at 2.5 per cent.The NZ dollar fell from about US72.30c to US71.70c in reaction to the decision and was weak for...Source: nzherald.co.nz - Business | 29 Apr 2010 | 12:18 am Asia stocks rise but European debt fears remainAsian stock markets were mostly higher Thursday after two days of selling, but investors were treading cautiously after Spain became the third European country this week hit with a...Source: RSS feed - channel BNewsBusiness | 28 Apr 2010 | 11:55 pm Ash, Greek credit crises reveal a disunited EuropeIt can be easy to forget about borders in Europe, a continent united by fast trains, cheap flights, a single currency and passport-free travel stretching from Portugal to Poland. A pair...Source: RSS feed - channel BNewsBusiness | 28 Apr 2010 | 11:13 pm TABLE-Indonesia's Medco Q1 net profit up 17 pctJAKARTA, April 29 (Reuters) - Following are unaudited first-quarter results for Indonesian energy firm PT Medco Energi Internasional Tbk .Source: RSS feed - channel BNewsBusiness | 28 Apr 2010 | 10:57 pm Oil hovers near $83 on weak US demand, Europe debtOil prices hovered above $83 a barrel Thursday in Asia, weighed down by signs of weak U.S. crude demand and an escalating European debt crisis. Benchmark crude for May delivery was down...Source: RSS feed - channel BNewsBusiness | 28 Apr 2010 | 10:56 pm Australia proposes tough cigarette packaging rulesTobacco companies would be forced to use plain, logo-free packaging on their cigarettes in a bid to make them less attractive to smokers under legislation introduced Thursday by Australia'sSource: RSS feed - channel BNewsBusiness | 28 Apr 2010 | 10:55 pm Obama to nominate three for FedJanet Yellen, a former member of the Board of Governors, is expected to be named vice chairwoman. The president is also expected to name two to become board members.President Obama plans to name Janet Yellen to serve as vice chairwoman of the Federal Reserve, where she would play a crucial role in shaping monetary policy for the nation's banking system.
Source: L.A. Times - Business | 28 Apr 2010 | 10:27 pm HP Buys Palm for $1.2 billion
Hewlett Packard (HP) will buy Palm for $1.2 billion, or $5.70 per share. Reuters has more: Analysts say 2010’s third-largest U.S. tech acquisition grants Palm’s devices global production and distribution reach while launching the world’s top PC maker into a tech arena experiencing blistering growth. Analysts said HP has deep pockets to invest in Palm, can expand its carrier relationships and negotiate better component pricing from existing suppliers. “If you saw the guidance Palm just put out, it was clear they had to sell,” said Phil Cusick, analyst at Macquarie Research. “Given how quickly Palm’s business was falling off and how fast their cash was going out the door, they’re lucky to get what they got. Todd Bradley, executive vice president of HP’s computer division, said the company plans to “invest heavily” in Palm, increasing spending on sales and marketing and research and development in the hope of spurring the developer community into writing more applications for the platform. HP “would be one of the few companies that I think could successfully turn Palm around. The company has great brand, great international distribution,” said C.L. King Associates’ analyst Lawrence Harris. “That will open a lot of doors.” HP’s foray into the fiercely contested smartphone arena, while it may not immediately threaten Apple, and Research in Motion’s BlackBerry, may increase pressure on Nokia (NOK1V.HE), Motorola (MOT.N) and other device manufacturers now battling to expand their market share. HP will probably slap together an appealing Palm + Android combo. This might be a solid step towards finally giving Apple solid smartphone competition. Maybe it’s a good thing Lenovo didn’t get its hands on Palm. Things will start looking a lot more interesting with HP in the game.
Source: Business Pundit | 28 Apr 2010 | 10:26 pm The New Flier's Rights (Deal of the Day)The tarmac delay ruling goes into effect today. Here's what it promises passengers.
Source: SmartMoney.com | 28 Apr 2010 | 10:00 pm How to Play the Odds on RambusSome analysts say a court victory could push Rambus shares to $50.
Source: SmartMoney.com | 28 Apr 2010 | 10:00 pm Interview With Manpower CEO Jeffrey JoerresWhat Manpower tells us about the U.S. job market.
Source: SmartMoney.com | 28 Apr 2010 | 10:00 pm Why Investors Should Care About Asia Now (Global Recovery Watch)Earnings season has revealed that the continent is playing a vital role.
Source: SmartMoney.com | 28 Apr 2010 | 10:00 pm Republicans allow finance debateUS Senate Republicans agree to a debate on the most significant reforms to financial regulations since the 1930s.Source: BBC News | Business | World Edition | 28 Apr 2010 | 9:11 pm US oil slick five times bigger than estimatedThe US Coast Guard said on Thursday five times as much oil as previously estimated was leaking from a well beneath the site of a deadly drilling rig explosion as the slick threatened wide-scale coastal damage for four US Gulf Coast states.Source: Financial Times - US homepage | 28 Apr 2010 | 8:53 pm March trade surplus as exports top $4bn for only the second timeNew Zealand's trade surplus widened in March, as the shipments of dairy products helped push the value of exports to more than $4 billion for only the second time on record.The surplus was $567 million, up from a revised $335...Source: nzherald.co.nz - Business | 28 Apr 2010 | 8:53 pm Elders parent props up unprofitable NZ unitElders Rural Holdings relies on its battling Australian parent for financial support and may have to sell assets if that support is withdrawn, notes to the New Zealand company's accounts say.Adelaide-based Elders Ltd, which owns...Source: nzherald.co.nz - Business | 28 Apr 2010 | 7:33 pm Goldman Sachs deal in fraud case involved unsophisticated investorsKing County in Washington state is suing IKB, the German bank that sold it securities in the deal, and three big rating firms. IKB says the suit is ‘without merit.’ ...Source: RSS feed - channel BNPaperBusiness | 28 Apr 2010 | 7:32 pm Goldman Sachs deal in fraud case involved unsophisticated investorsKing County in Washington state is suing IKB, the German bank that sold it securities in the deal, and three big rating firms. IKB says the suit is ‘without merit.’
Source: L.A. Times - Business | 28 Apr 2010 | 7:32 pm Toyota’s recall of 2003 Sequoia SUVs highlights a discrepancySome drivers can find themselves paying to fix a defect that the automaker has known about for years and has repaired for others at no cost. ...Source: RSS feed - channel BNPaperBusiness | 28 Apr 2010 | 7:20 pm Toyota's recall of 2003 Sequoia SUVs highlights a disparitySome drivers can find themselves paying to fix a defect that the automaker has known about for years and has repaired for others at no cost.The recall by Toyota Motor Corp. of about 50,000 early-2003 Sequoia SUVs on Wednesday for an electronics problem spotlighted a little-known quirk of the auto industry.
Source: L.A. Times - Business | 28 Apr 2010 | 7:20 pm RWC warning issued over misleading rental claimsHomeowners who exploit others with misleading claims about their properties ahead of the Rugby World Cup have been sounded a warning by industry leaders.A home in the eastern Auckland suburb of Howick "20 minutes away from the...Source: nzherald.co.nz - Business | 28 Apr 2010 | 7:00 pm ANZ's New Zealand profits tripleANZ New Zealand's underlying profit nearly tripled in the six months to the end of March compared to the preceding half as the economy emerges from the downturn.The Australia and New Zealand Banking Group released its 2010 interim...Source: nzherald.co.nz - Business | 28 Apr 2010 | 6:19 pm Senate set to begin financial reform debateRepublicans signalled that they would take the fight over financial regulation reform to the Senate floor after deciding that talks aimed at reaching a bipartisan deal had failed.Source: Financial Times - US homepage | 28 Apr 2010 | 6:05 pm Spain hit as Greek 'illness' spreads over EuropeThe crisis affecting the eurozone worsened yesterday when Spain’s credit rating was downgraded less than 24 hours after Greece was sent into financial meltdown. Source: Latest Business News from Times Online | 28 Apr 2010 | 6:01 pm All Saints steps out in style from Icelandic wreckageThe trendy fashion retailer All Saints has emerged from the wreckage of the Icelandic banking collapse with soaring sales and profits. Source: Latest Business News from Times Online | 28 Apr 2010 | 6:01 pm Ferrari F1 barcode a ‘smokescreen for cigarette adverts’Leading doctors are demanding an immediate government inquiry into “subliminal” tobacco advertising on Ferrari’s Formula One cars, and the company’s $1 billion relationship with the maker of Marlboro cigarettes, The Times has learnt.$ Source: Latest Business News from Times Online | 28 Apr 2010 | 6:01 pm Fed votes to keep its foot on interest ratesThe US Federal Reserve has voted to keep interest rates at rock bottom levels for “an extended period” while acknowledging that the American economic recovery is getting stronger. Source: Latest Business News from Times Online | 28 Apr 2010 | 6:01 pm Virgin ‘blew the whistle over price-fixing cartel with BA’ to win race for immunityVirgin Atlantic was so scared of American regulators that it admitted running a cartel with British Airways without being sure it had committed an offence, a court was told yesterday. Source: Latest Business News from Times Online | 28 Apr 2010 | 6:01 pm Gartmore fund manager returns to workThe star fund manager suspended by Gartmore for breaking internal trading rules returned to work yesterday in a more junior role. Source: Latest Business News from Times Online | 28 Apr 2010 | 6:01 pm Republicans back down on financial reformWASHINGTON (Reuters) - A three-day Senate standoff over efforts to overhaul financial regulation ended on Wednesday as Republicans dropped efforts to block a Democratic bill in exchange for a handful of concessions.
Source: Reuters: Business News | 28 Apr 2010 | 5:58 pm Fed renews low rate promise, upbeat on economyWASHINGTON (Reuters) - The Federal Reserve offered a more upbeat view of the U.S. economy and employment prospects on Wednesday, even as it left interest rates on hold near zero and promised to keep them low for an extended period.
Source: Reuters: Business News | 28 Apr 2010 | 5:56 pm UAL heads set for windfall in event of mergerThe top five executives at UAL Corp, parent of United Airlines, stand to make millions ofdollars in cash and shares if their company merges with Continental Airlines, according to an analysis of the carrier’s regulatory filingsSource: Financial Times - US homepage | 28 Apr 2010 | 5:51 pm Obama to nominate 3 new Fed governorsPresident Obama plans to nominate three new governors to the Federal Reserve on Thursday, according to sources familiar with the matter.Source: Business and financial news - CNNMoney.com | 28 Apr 2010 | 5:37 pm March trade surplus better than expectedA rise in exports of milk powder, butter and cheese from a year earlier helped push New Zealand's trade surplus to a higher than expected $567 million for the month of March.Statistics New Zealand said the March balance was equal...Source: nzherald.co.nz - Business | 28 Apr 2010 | 5:19 pm CDO fees flow to ratings agenciesCredit rating agencies are still being paid millions of dollars a year to report on the performance of collateralised debt obligations that have lost most of their value despite having been issued in many cases with triple A stamps of approvalSource: Financial Times - US homepage | 28 Apr 2010 | 5:17 pm Goldman charges not linked to bill: SEC boss (AP)AP - The head of the Securities and Exchange Commission said Wednesday there was no connection between the timing of the agency's fraud charges against Goldman Sachs and efforts in the Senate to speed passage of sweeping legislation overhauling financial regulation.Source: Yahoo! News: Stock Markets News | 28 Apr 2010 | 5:15 pm Kiwi dollar drops as OCR held steadyReserve Bank of New Zealand Governor Alan Bollard held the official cash rate at a record low 2.5 per cent and said interest rates will rise "over the coming months" as the economy recovers. The kiwi dollar fell as Bollard said...Source: nzherald.co.nz - Business | 28 Apr 2010 | 5:11 pm Spain downgraded as Europe debt crisis widensBERLIN - Europe's debt crisis spread its contagion to another country overnight, when a major agency downgraded Spain's credit rating, even as Germany grudgingly moved closer to bailing out Greece from imminent collapse.Greece...Source: nzherald.co.nz - Business | 28 Apr 2010 | 5:00 pm Stocks climb on earnings; Fed holds rate steady (AP)
Source: Yahoo! News: Stock Markets News | 28 Apr 2010 | 4:13 pm Write-Offs: 04.28.10$$$ Blankfein’s Voicemail to Goldman Flock [WSJ] $$$ Finally, the Animated Lloyd Blankfein GIF You Didn’t Know You Were Waiting For [Daily Intel] $$$ US Eyes Two More Suspects In Galleon Probe [Reuters] $$$ Jury sides with SM company in love-doll case [NC Times] $$$ When Senator Levin reminded the executives that his firm thought its deals were “shitty” as they were peddling them to clients, he asked what Mr. Viniar felt when he read that word in the committee’s exhibit book. “I think,” he said, “that’s very unfortunate to have on email.” [NYO] $$$ So this happened: 
Source: Dealbreaker | 28 Apr 2010 | 4:10 pm Goldman pressed for CDO loss settlementGoldman Sachs is in talks over a potential settlement with an investor that claims that it lost money and went out of business after buying into a $1bn (€760,000) mortgage-backed security that was later privately criticised by a senior executive at the bankSource: Financial Times - US homepage | 28 Apr 2010 | 4:02 pm How the major stock indexes fared on Wednesday (AP)AP - Investors gave stocks a rebound after reassuring words from the Federal Reserve and another batch of upbeat earnings reports. The Dow Jones industrials rose 53 points Wednesday, making back a quarter of the 213 they lost the previous day. Investors were able to shake off Standard & Poor's downgrade of Spain's debt, the third European country in two days to have its rating lowered. Instead, they focused on the domestic economy.Source: Yahoo! News: Stock Markets News | 28 Apr 2010 | 3:55 pm China, Buffalo Wild Wings, Coinstar, HP and Palm: Taking StockSource: Bloomberg - All Podcasts | 28 Apr 2010 | 3:26 pm HP-Palm: Everyone's a loser but AppleHewlett-Packard's Palm buy could be a good fit, but it's got a long way to go before it can catch up with the iPhone.Source: Business and financial news - CNNMoney.com | 28 Apr 2010 | 3:21 pm Hewlett-Packard in $1bn Palm dealPalm, a pioneer in the smart phone business, is being bought by US computer giant Hewlett-Packard (HP) for $1bn (£657m).Source: BBC News | Business | World Edition | 28 Apr 2010 | 3:12 pm Kiefer to Get His $1 Million Cattle Investment Back
I mean, come on. Kiefer Sutherland not only gets wasted and head-butts fashion designers, he can have Chloe O’Brien stare you down until you choke on your own vomit. But, one California cowboy tried to pull a fast one on ‘Ole Kiefer and now he’s stepped in a big pile of manure. Yesterday, Michael Wayne Carr, pleaded guilty to three counts of grand theft and forgery for falsifying contracts and running a fraudulent cattle scheme costing investors including Sutherland over $1.5 million. The scheme was pretty simple, and reminds us of a similar arbitrage involving groceries. According to the San Joaquin County District Attorney’s Office, Carr told Sutherland that he would buy cattle from Mexico and resell them for a significant profit in the United States. But, prosecutors say there is no evidence Carr ever bought any cows. Carr agreed to pay nearly $1 million in restitution and serve up to seven years in prison. The 44-year old cowboy is scheduled to be sentenced on Nov. 1.
Source: Dealbreaker | 28 Apr 2010 | 3:03 pm 8 Coolest Office Spaces, Ever
There are few jobs that don’t require at least a minimum amount of creativity. But how can employees think outside the box if they’re trapped inside one? Luckily, more and more companies across the globe realize that a creative mind sits in a creative office. We’ve found eight that have really gone ahead with giant steps and broken up office stereotypes, not to mention monotony. But see for yourself. 1. Pixar OfficeIt’s probably no coincidence that our No. 1 is the office of a company where creativity is key – animation giant Pixar’s office is just cooler than cool. There’s an employee café, various lounges, a common room with games, a pool, a soccer field and a university where employees at all levels can learn as much about animation as they want to.
Instead of cubicles, many employees have opted for little houses (top left), while others have personalized their space further (top right); a typical lounge (bottom right) and more work spaces (bottom left). 2. Google Office ZurichGoogle’s offices have been featured before, but their office in Zurich is really something! Spread over five floors, it was designed by Camenzind Evolution after interviewing all 350 Google Zurich employees – or Zooglers as they are affectionately called – regarding their design preferences and office space needs. Here’s the outcome: Every floor has a different theme – here obviously the Alps with hanging railway cabins: And probably the coolest feature – just pretend you’re in a fire station: 3. Ogilvy & Mather’s Office GuangzhouAs the first interior design project ever, Ogilvy & Mather’s office in Guangzhouoffice received a prize at China’s third annual Most Successful Design Award in 2008. The office was designed by M Moser and Associates under the theme, “Carnival of Ideas”. A creative office like that will of course expect quite a creative output. But hey, no pressure! Take a right at the merry-go-round: Not your average cubicled office: 4. Red Bull LondonIf Red Bull wanted to prove that all their energy-infused employees need an office to match their temperament, then their office in London was a full success. On three levels, design firm Jump-Studios (well, what else do you expect then) has created a dynamic, interactive space: Meeting rooms screaming in neon colors, conference tables that turn into ping pong tables and not to forget the slide that brings people from Level A to Level B. Get that adrenaline pumping! Will that be cabin 01, 02 or 03 for you? Weee, I’ll be early for the meeting! Why not play ping-pong while you’re having a meeting? 5. CheBanca! Milan
If you’re dreading going to the bank because of the stuffy atmosphere and long lines, you might consider visiting CheBanca! in Milan (well, Milan, what do you expect!). The branch was designed by Crea International to reflect the brand’s simplicity, transparency and innovation. If the transactions are indeed as smooth, simple and transparent as the design suggests, we’ll indeed say, “What a bank!”
6. Nothing Office AmsterdamTurning nothing into something must’ve been the objective of Dutch designers Joost van Bleiswijk and Alrik Koudenburg when they created an office built entirely from cardboard. The idea behind the “no screw, no glue” approach was to create an office for the Amsterdam-based advertising agency, Nothing, that would turn the agency’s clients into brand ambassadors, using the most “nothing” (and environmentally friendly) building materials they could find. Yup, that’s all cardboard, very sturdy cardboard: Visitors and clients are encouraged to leave their mark on the brown walls: Glass elements make the office airy and transparent: 7. VW Plant DresdenA plant might not be your average type of office (and we’re not talking about the green kind) but if it’s as cool as the VW Phaeton assembly plant in Dresden, Germany, one can’t wish but to work there. Very futuristic: A spic-and-span shop floor: A design marvel also from the outside: 8. Limousine OfficeFor people who like to work when on the move, our last office design, the limousine office, might be just right. Equipped with work desks, large comfortable chairs, floor and ceiling lights, two 7-inch screens, DVD, stereo and bar, you really feel like you’re in an office. Except for the bar part maybe. The good thing is, if you’re on your way to the airport, the interior looks so much like that of a plane, you wouldn’t really know the difference. If you’re flying First Class that is. Is it a limousine or plane? The luxury car office, brainchild of Limousines World, can be set up in a Cadillac Escalade, Mercedes GL, Lincoln Navigator, Infiniti QX56 or Ford Expedition. Ah, now it looks a bit more like an office:
Source: Business Pundit | 28 Apr 2010 | 2:56 pm Want to Be a Movie Producer?
Source: Dealbreaker | 28 Apr 2010 | 2:48 pm Presented By:Source: Dealbreaker | 28 Apr 2010 | 2:48 pm Hewlett Packard to buy Palm for $1.2bnHewlett Packard stepped in to buy troubled smartphone maker Palm, announcing a $1.2bn deal, bringing an end to the rising doubts in recent weeks over the future of the iconic Silicon Valley personal technology brandSource: Financial Times - US homepage | 28 Apr 2010 | 2:43 pm Traders Boost Bets Against Retailers, ETF Options Show: AudioSource: Bloomberg - All Podcasts | 28 Apr 2010 | 2:34 pm Ashland Upgraded to `Buy,' Ford Cut to `Underperform': AudioSource: Bloomberg - All Podcasts | 28 Apr 2010 | 2:29 pm Greek fire turns to Spanish feverFears that Greek debt crisis will spread to other eurozone nations intensified on Wednesday when Spain suffered a debt downgrade from Standard & Poor’s, sending the euro to fresh lows against the dollarSource: Financial Times - US homepage | 28 Apr 2010 | 2:25 pm H-P Is First Mover To Buy Palm (HPQ, PALM, AAPL, RIMM)Hewlett-Packard (NYSE: HPQ) is the first to take a bite into Palm, Inc. (NASDAQ: PALM). Shortly after today’s closing bell, H-P and Palm said they entered into a definitive agreement where HP will acquire Palm at $5.70 per share. This generates an enterprise value of about $1.2 billion, and the deal has been approved by [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Apr 2010 | 2:22 pm Senator Claire McCaskill Apologizes For YesterdayWhat is she sorry for? Is it for ‘causing horrible flashbacks for those on the panel and watching at home to being sent to the principal’s office? Her bizarre and at times troubling line of questioning? Use of the term “smart alecks”? Comparing “the legal activity of market making to the illegal activity of sports bookmaking,” the latter of which is a serious hobby of hers? Not using her indoor voice? Just generally projecting her gambling problem on Goldman Sachs? Giving Maxine Waters a run for her money? All of the above? None of the above?
Source: Dealbreaker | 28 Apr 2010 | 2:14 pm Fed: Things Are Getting Better. But They're Still Bad.By Jacob Goldstein Here, more or less, is what the Fed's open market committee said today in its monthly statement: The jobs picture is getting better. People are spending a bit more money, and companies are buying more stuff. But there's a difference between getting better and good. And we're still a long way from good: Unemployment is still high, it's tough to get a loan from the bank, and employers aren't in a hurry to hire more people. We think unemployment's going to stay high and inflation's going to stay low for a while yet. So we're going to keep America flooded with so much money that banks are willing to give each other overnight loans for little or no interest. And we'll probably make sure it stays that way for an extended period of time. Nine of us on the committee agree on this stuff. One of us thinks we should stop saying we're going to keep things this way for an extended period. He's worried that we may be fueling another bubble with all this easy money. By the way, financial markets are basically working again, so we're winding down those special programs we started when things were super crazy. We know everybody's interested in what we're going to do with that trillion dollars of mortgage bonds we bought recently. But we're not going to say anything about when or how we're going to unload those. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Apr 2010 | 2:08 pm US interest rates kept on holdThe US Federal Reserve kept its main interest rate at a near zero level, saying it expects to hold it there for an "extended period."Source: BBC News | Business | World Edition | 28 Apr 2010 | 1:49 pm Netflix Turns Into Battleground Stock (NFLX)Netflix, Inc. (NASDAQ: NFLX) has become nothing short of a battleground stock with many in favor and many getting very questionable. It has a cult following and a momentum following in the investing public, it has millions of loyal subscribers, and it has a high-P/E and high valuations to boot. In the same day, we [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Apr 2010 | 1:31 pm Fed says US economy strengtheningThe Federal Reserve pledged to keep interest rates low for an “extended period”, even as it offered a more upbeat assessment of the strength of the US economySource: Financial Times - US homepage | 28 Apr 2010 | 1:27 pm Germans Raid Deutsche Bank in Carbon Trading ProbeEnvironmentalists thought they had found a “market solution” to controlling carbon emissions. Then energy traders have to go screw it all up. German prosecutors raided Deutsche Bank and RWE, Germany’s second-biggest utility, today in a wide-ranging probe of tax-evasion and generally shading dealing in the European carbon emissions market.
The Frankfurt feds have targeted 150 suspects at 50 companies, raided 230 homes and offices nationwide, and has frozen assets. Deutsche Bank and RWE said they are cooperating with the probe and aren’t the focus of the investigations, according to Bloomberg News.
Source: Dealbreaker | 28 Apr 2010 | 1:07 pm Why investors trade with GoldmanAt a Senate hearing, Goldman Sachs CEO Lloyd Blankfein was asked if his bank had an obligation to tell clients they were being sold a shoddy product. Blankein said investors knew what they were getting into. If he's right, why would anyone want to bet against them? Jeremy Hobson reports.Source: Marketplace | 28 Apr 2010 | 1:04 pm China paranoid over currency questionCommentator David Frum recently returned from a State Department-sponsored tour of Chinese universities, and says many students expressed concern over U.S. pressure on China to "up value" its currency.Source: Marketplace | 28 Apr 2010 | 1:01 pm Telekom aims for more women on boardIn Germany, women are almost completely absent from boardrooms. Now one company is doing something about it. Kyle James reports.Source: Marketplace | 28 Apr 2010 | 1:00 pm Presented By:Source: Dealbreaker | 28 Apr 2010 | 1:00 pm Is Your Boss A Massive Pr*ck?
Banishing The Office Jerks, Martyrs And Avoiders [WSJ]
Source: Dealbreaker | 28 Apr 2010 | 1:00 pm What it takes to achieve excellenceBBC sports commentator Matthew Syed talks with Tess Vigeland about his new book "Bounce," and what lies behind success and excellence in sports and other endeavors.Source: Marketplace | 28 Apr 2010 | 1:00 pm The impact of Greece's debt crisisSpain became the third European country in two days to have its bond rating downgraded. European bureau chief Stephen Beard talks with Tess Vigeland about what implications that move will have and the latest rescue package for Greece.Source: Marketplace | 28 Apr 2010 | 1:00 pm Plastic pushes up Dow Chemical profitsStrong profits from big companies sent the stock market up today, and one of them was Dow Chemical. Its net income surged almost 2300%. Jill Barshay reports.Source: Marketplace | 28 Apr 2010 | 12:59 pm Is burning leaked oil worth the costs?The U.S. Coast Guard set fire to parts of a giant oil slick that is spreading just off the Louisiana coast. Burning the oil is designed to keep it from drifting into coastal estuaries and wetlands filled with wildlife. John Dimsdale reports clean-up crews are facing no easy choices.Source: Marketplace | 28 Apr 2010 | 12:59 pm Caption Contest Wednesday
Earlier: Live-Blogging The Goldman Flogging Related: Introducing The Lloyd Face
Source: Dealbreaker | 28 Apr 2010 | 12:47 pm China’s Oil Companies Could Help Slow Credit Demands (SNP, COP, CEO, PTR, BP)Like oil refiners everywhere, China Petroleum and Chemical Co. (NYSE:SNP), better known as Sinopec, had a tough year in 2009. The company’s revenues were down nearly 7%, but EPS was up more than double on a big improvement in operating profit. The profit gain was mainly attributable to a loosening of tight central government control [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Apr 2010 | 12:42 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Wednesday:Source: Yahoo! News: Stock Markets News | 28 Apr 2010 | 12:40 pm FOMC Keeps “Extended Period” Stance, No HikeAs you expected, no rate hike came from the two-day FOMC meeting today at 2:15 PM EST. The target Fed Funds Rate was kept at the same 0.00% to 0.25% that has been the case for over a year. As far as the keeping rates low for “an extended period,” the “extended period” was also [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Apr 2010 | 12:24 pm GE’s Dividend Hike Commitment (GE)]General Electric Co. (NYSE: GE) has held its annual shareholder meeting today. With at least a bit of a surprise on our part, there was no formal action announced on the dividend. Not yet. However, the dividend hike is coming, and it seems we are probably now closer to a hike in the dividend than [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Apr 2010 | 12:07 pm 50 Tips for Improving Productivity
Luckily, you can learn to be productive. From the 80/20 rule to GTD (Getting Things Done), tried-and-true skills exist to help you get more done. Here are 50 no-nonsense tips that will help you improve your productivity. Behaviors That Will Make You More Productive How to stop reacting and start producing. Developing relationships can make you more productive. Trying to please everyone makes you unproductive. Say no to be more productive. Productivity means nothing without passion and purpose. Become more productive by taking a vacation. Productivity and life management. Planned living helps you be productive. Sometimes, you need some motivation—these quotes are perfect. Where Do You Waste Your Time?
Ever have those days where you log onto the Internet and immediately waste two hours on pointless browsing and socializing? Try some of the tips below for cutting out the activities that gobble up your hours. The top 20 time wasters, stealers, and nibblers. Trick yourself into action. Stop squandering time at home. 3 simple ways to avoid procrastination. The ultimate cure for procrastination. How dealing with time will help you be more productive. Tips for a Productive Workday 5 things that are bound to clutter up your day. Don’t just work. Work on the right things. Scheduling right can boost your productivity. Be more productive by capturing your open items. 11 ways to be more productive at work. Even your to-do list may need cleaning out. Productivity and Your Job How to be more productive as a salesperson. Use interns to increase your productivity. If you’re a freelancer, a 4-hour workday could be enough. How to be super-productive—and still end your day at 5:30 pm. Easy, baseline things you must know to be a productive knowledge worker. How to be a more productive blogger. General Productivity Tips Thoughtful ways to increase your overall productivity. Life management tips–from calendars to food–that will boost your productivity. 10 really obvious ways to be more productive. Making GTD (getting things done) a mobile, ubiquitous partner. 13 strategies to jump start your productivity. Lots of productivity links, all the time. Productive Magazine has good features on productivity experts—and more. The Right Software for the Job Top 5 free productivity iPhone apps. Top 10 Firefox extensions to improve your productivity. 10 Google Chrome extensions that will boost your productivity. 10 productivity apps that you need to put on your iPad. 130+ productivity links for Twitter. Assault your email inbox so you no longer have a pile-up. Practical technology strategies that will make you more productive. Reduce social media distractions and become more productive. How social media can actually increase your productivity. How managers should see productivity in employees distracted by social media. Individual Stories on Productivity Outlandish ways that famous people have forced themselves to be productive. What Penelope Trunk learned about productivity from years of hating Tim Ferriss. A satirical (or honest?) look at a life of too much productivity. What you can learn about productivity from a cat. A cautionary tale of how cocaine and Grand Theft Auto turned one formerly productive writer into an addict.
Source: Business Pundit | 28 Apr 2010 | 11:28 am Prince Alwaleed: Kind Of Obsessed With Warren Buffett?
According to the cover story of Bloomberg Markets Magazine’s Junes issue, entitled “Buffett and the Prince,” yes. Before we get into all that, however, just take a moment to appreciate the setting in which this interview took place:
Now, the Prince and his infatuation. Is it so much an obsession with the Oracle of O as it is one with simply being as rich as him? Obviously that’s part of it, though with a net worth of $16.6 billion, his highness has a bit of catching up to do to Buffett’s $48.7 billion (a disparity Big Al is not sweating. “When he was my age, he was not as big as me,” Alwaleed says. “I still have 20 years.”) And former aides say “being the best, being the wealthiest is what motivates [the Prince], whose preoccupation with his status and wealth is on display at Kingdom Holding’s headquarters, where bookshelves display reprints of magazine articles about his ranking on billionaire lists. After rankings are published, he sometimes issues a press release touting his position.” But there’s more than just a “I would like to have a few more billions in my name” thing going on than a serious “I want to be Warren Buffett, I want to posses Warren Buffett, if I can’t have Warren Buffett no one can” vibe emanating from Alwaleed. First off, he refers to himself as “the Buffett of Arabia.” And he takes pains to prove to reporters that he and Buffs are basically two bodies, one soul, as indicated by similarities such as the fact that they both use filing cabinets and they both wear pants (sometimes).
Most significantly, Alwaleed “has hired a mostly female staff at his office, creating workplaces rarely seen in Saudi Arabia, where women must wear neck-to-toe robes to mask their figures in public. The women Alwaleed empoys derss in Western clothing and hold jobs managing his construction projects, piloting his jets and directing catering at his palace.” This is of course admirable, but given the Buffett obsession, seems more like an attempt to follow in the master’s footsteps, by (very slowly) turning his office into a Russ Meyers set, as is the practice at Berkshire HQ. To Alwaleed’s credit, this is all not entirely without encouragement from WB. The two have have been trading letters (by mail and fax, natch) on and off for about nine years, and the pen pal thing was initiated by Buffett, who sent the Prince a note in May 1999 after staying at the Plaza (at the time 42% owned by PA), telling him how great the service was. “You have restored the Plaza to its former luster– indeed your managers have enabled it to surpass its previous heights– and I congratulate you,” Buffett wrote, forcing one to only assume that the nightly turndowns included HJ’s.
Which, whoa there Single White Female! When the two finally met face to face, at Microsoft’s CEO summit in 2008, “a beaming Alwaleed posed with Buffett for a photo taken by the prince’s personal photographer. Buffett hammed it up for the camera, handing his black wallet to the prince as the flash went off.” Now– and I say this not to be cruel but merely to give the prince all the necessary information he needs to make an informed decision that maybe the intense feelings he has for WB aren’t as mutual as he thinks, and that perhaps the Oracle is just being nice– BUFFETT DOES THIS WITH EVERYONE, GIRL! Literally, it is his go-to move. Here are just a couple examples:
He does it with complete strangers he’s met only 5 minutes prior. There’s more evidence available, but I think the point is made. WB probably thinks you’re great, P, but you may not be special to him in the way you think you are. Now that you have this info, please, don’t do anything crazy. Keying his car will only feel good in the moment. Don’t be the psycho-bitch. You’re better than that. Console yourself with a harem of girls in orange boots. Or call Vikram, he’ll get you through this.
Source: Dealbreaker | 28 Apr 2010 | 11:15 am Levitt, Goodwin, Blanchflower, Harris, Chadha: SurveillanceSource: Bloomberg - All Podcasts | 28 Apr 2010 | 11:03 am Collins' Dwyer, Seldon, Zentner: Bloomberg On the EconomySource: Bloomberg - All Podcasts | 28 Apr 2010 | 10:57 am Concept’s Mathias, Chicago’s Rajan: Bloomberg On the EconomySource: Bloomberg - All Podcasts | 28 Apr 2010 | 10:55 am FTSE 100 shares decline (AFP)
Source: Yahoo! News: Stock Markets News | 28 Apr 2010 | 10:11 am Gulf Oil Spill Costs BP $6 million per Day
Ever since the Deepwater Horizon oil rig blew up last week, BP, which was leasing the rig, has been trying to control the Gulf oil spill. The 1,000 workers, 5 planes, robotic submarines, and 32 ships the company deployed are costing them more than $6 million/day. BNET’s Kristen Korosec has more: …the oil company is going to shell out a lot more before it’s over because the stakes for the environment, its own reputation and the industry are higher than ever. Drilling a second well to plug the leak, an option BP is pursuing, will cost an estimated $100 million. BP understands that a dollar (or $6 million) spent today means considerable savings tomorrow. Environmental cleanup costs, which BP is responsible for under the Oil Pollution Act of 1990, will skyrocket if the oil spill reaches the shoreline. That’s not to say BP can simply spend its way out of this mess. BP will still have to answer to the numerous government agencies overseeing the spill. How BP handles itself in this crisis will give investors and the public the clearest indication yet of whether it’s a new, safer and more responsible company or the same one we saw back in 2005. After a 2005 refinery explosion in Texas City killed 15 workers and hurt hundreds of others, BP plead guilty to felony charges in a US court. The company admitted to “failing to have adequate written procedures for maintaining the ongoing mechanical integrity of process equipment at the Texas City refinery and for failing to inform contractors of the hazards related to their occupancy of temporary trailers in the vicinity of the refinery’s Isomerization Unit.” The court fined BP $50 million and a 3-year probation. OSHA fined BP an additional $21 million, and the company paid out $1.6 billion to the victims of the fire. It also had to upgrade its flares to new government standards, for a price of $250 million. Mistakes don’t come cheap in the oil industry. No wonder BP is spending so much money trying to stop the oil from hitting the shore (the Coast Guard may lend a hand by burning the oil). BP–and the entire offshore drilling industry–may also be in political hot water. From the Houston Chronicle: The incident has in recent days led opponents of offshore drilling in Congress to seek probes on industry safety. On Tuesday, the Interior and Homeland Security departments said they are investigating through a joint agreement between the Coast Guard and the U.S. Minerals Management Service. Meanwhile, the number of lawsuits from accident survivors and the families of deceased workers is growing. Byron Grote, BP’s chief financial officer…note(d) that Transocean, as the owner and operator of the Deepwater Horizon, is generally responsible for the rig itself, safety equipment on the sea floor and the drilling of the well. BP, as the owner of the offshore lease where the rig was working, is responsible for regaining control of the well and for the costs of the environmental cleanup, he said. The Coast Guard…said while the effort was making progress on several fronts, “we’re probably 90 days out from securing this source permanently.” Though largely overshadowed by questions about the offshore disaster, BP said its first-quarter profit more doubled on higher oil prices. Net income jumped to $6.08 billion from $2.56 billion in the same period a year ago, beating analyst expectations, while revenue rose to $74.42 billion from $48.09 billion. The 40-mile-wide oil slick is now reported to be 15 miles away from Louisiana. A new drilling rig was moved into place yesterday, according to NPR. Once BP secures the right permits, it will drill a new adjacent well to redirect the oil. NPR also reports that “BP is building one of the largest pollution containment devices ever constructed which will be placed over the leaking well. It will capture the oil as it escapes and pump it safely to oil tankers on the surface, but that will take weeks to put in place and become operational.” Considering the fallout it faces, it’s safe to say that BP is trying its best to contain the Gulf Oil spill. BP’s costs, of course, don’t factor in the massive environmental damage that the oil slick will cause Southern wetlands and beaches once it migrates to shore. That, I imagine, will mostly affect taxpayers.
Source: Business Pundit | 28 Apr 2010 | 8:54 am Call for an 'exam for a mortgage'Mortgages should only be given to some first-time buyers "after study and an exam", says a debt charity chairman.Source: BBC News | Business | World Edition | 28 Apr 2010 | 8:45 am The Greek Crisis Is 'Like Ebola'By Jacob Goldstein At this point, it's a given that Greece may not be able to pay off its debts, even with a big bailout from the EU and IMF. The bigger worry now is that the debt crisis is spreading to several other EU countries -- and it may lead to broader economic troubles in Europe. "Contagion has already happened," Angel Gurria, the secretary general of the OECD, told Bloomberg News today. "This is like Ebola: When you realize you have it, you have to cut your leg off to survive." (Side note: Gurria is an economist, not a physician.) For Gurria, the treatment is to promise Greece lots and lots of money. He doesn't say how much. But he says it has to be more than enough to keep the country going for a few months. Otherwise, the markets will just assume the default will occur a little further down the road. That's clearly what's happening with Greece. The price of insuring Greek debt against default implies a 45% chance that the country will default within five years, figures in the WSJ suggest. But, as Germany debates whether and how it should contribute to a Greek bailout, investors are also worried that Portugal, Ireland and Spain may soon stumble in paying back their loans. This creates a positive feedback loop: Nervous investors charge higher interest. That leaves countries further in debt, which in turn makes investors even more nervous and leads them to demand even higher interest rates. As governments spend more to service their debt, they must reduce spending elsewhere. That, in turn, can choke off economic growth -- and economic growth is necessary for countries to dig themselves out of debt. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Apr 2010 | 8:25 am Page on Greek Debt Crisis, U.K. Elections: First WordSource: Bloomberg - All Podcasts | 28 Apr 2010 | 7:39 am Goldman's Fab Answers Our QuestionBy Jacob Goldstein One last thing from yesterday's Goldman hearing. In his testimony, Fabrice "Fabulous Fab" Tourre, the VP named in the SEC's lawsuit, gave a clear answer to a question we've had about the case. According to the SEC, ACA -- the company that put together the CDO at the center of the case -- was wrongly led to believe that the hedge fund Pauslon & Co. was taking a long position in the CDO. (Paulson was short.) Tourre directly addressed this allegation: ...I never told ACA ... that Paulson & Company would ... take any long position in the deal. ... I recall informing ACA that Paulson's fund was expected to buy credit protection on some of the senior tranches of the AC-1 transaction. This necessarily meant that Paulson was expected to take some short exposure in the deal. ... If ACA was confused about Paulson's role in the transaction, it had every opportunity to clarify the issue. Representatives of Paulson's fund participated directly in all of my meetings with ACA regarding the transaction. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 28 Apr 2010 | 6:45 am Misdirected CA County Bans Happy MealsA California county has voted to ban fast-food restaurants from giving out toys with certain child-sized meals. Santa Clara county, located near San Francisco, wants to remove the positive association children have with junk food. Toys are only allowed if the food meets set nutritional requirements. The San Jose Mercury News has more: The law prohibits restaurants in unincorporated parts of the county from giving away goodies unless the meals meet certain nutritional guidelines. More and more in recent years, fast-food critics say restaurants have encouraged families to make unhealthy choices by offering Iron Man Cyclone Spinning Robot Drones and Barbie Mermaid dolls with their kids’ meals. “This ordinance breaks the link between unhealthy food and prizes,” said Supervisor Ken Yeager, who sponsored the initiative. Yeager said it is unfair to parents and children to use toys to capture the tastes of children when they’re young and “to get them hooked on eating high-sugar, high-fat foods early in life.” Under the ordinance, restaurants would not be able to offer toys for kids’ meals that exceed certain nutritional standards — more than 485 total calories, for instance, or more than 600 milligrams of sodium. That means, at Wendy’s, four chicken nuggets, mandarin oranges and low-fat milk would get a toy. But the crispy chicken sandwich, fries and chocolate milk would not. Although the county ranks as one of the healthiest in the nation, one in four seventh-, ninth- and 11th-graders in the county are either overweight or obese, and one in three low-income children between the ages of 2 and 5 fall into the same two categories. Latinos are disproportionately affected by the epidemic. But when Amalia Chamorro, speaking on behalf of the state restaurant association, turned to ask how many of the audience — many of them Latino and several of them who work in the fast-food industry — would oppose the ordinance, the majority rose their hands. This is the same part of the country that buys 100 Domino’s pizzas for schoolchildren every Friday (after a failed $4 million investment in a Pizzamatic machine). Targeting kids’ toys sounds more like a publicity move than something that will actually be effective. Obese kids eat fast food anyway, not just for the toys. The best use of the toys is as a special, once-in-a-while treat for kids. Parents who use the meals that way probably don’t have obese kids, anyway. By cutting off access to this particular tradition, the government isn’t targeting the meals or people it should be focusing on. That is, parents who enable their kids to eat food that makes them fat, all the time. The Santa Clara County Board of Supervisors did accomplish one thing, however. They got their name in the national news. They projected an image of their county as one that’s tough on obesity (despite the dubious efficacy of their new law). In other words, they got PR. In a world where politicians thrive of visibility and votes, this was a good political move. Actually making a dent in childhood obesity requires different action. Michelle Obama’s idea to give grocery stores tax breaks to set up shop in areas where nutritious food is in low supply is one good idea. Her suggestion to increase the number of farmer’s markets is another. Other promising ideas, executed at the local level, have included the Oklahoma City mayor’s challenge that the city lose 1 million pounds (he himself lost 40), and one Kentucky town’s move to put all bike paths and trail maps online. There are tons of good options for slimming down kids. Banning the longtime tradition of a toy in a meal isn’t one of them.
Source: Business Pundit | 28 Apr 2010 | 4:11 am Greek financial crisis sends markets plunging (AFP)
Source: Yahoo! News: Stock Markets News | 28 Apr 2010 | 4:06 am The Economy of SpamNew Scientist has a fascinating infographic all about spam:
Source: Business Pundit | 28 Apr 2010 | 3:22 am
|
