|
|
|
|
Mortgage approvals still sluggishThe number of mortgages approved for home buyers rose slightly in March, latest figures from the Bank of England show.Source: BBC News | Business | World Edition | 4 May 2010 | 4:15 am Norsk Hydro in $4.9bn Vale dealNorway's aluminium producer Norsk Hydro agrees to buy a majority stake in the aluminium operations of Brazilian miner Vale.Source: BBC News | Business | World Edition | 4 May 2010 | 4:15 am EU to discuss ash crisis lessonsEU transport ministers meet in Brussels later to discuss ways to improve its response to last month's volcanic ash disruption.Source: BBC News | Business | World Edition | 4 May 2010 | 4:15 am BP shares fall to seven-month lowBP shares hit a a seven-month low as concerns grow about the cost of cleaning up a massive oil spill in the Gulf of Mexico.Source: BBC News | Business | World Edition | 4 May 2010 | 4:11 am BP weighs on FTSE as Greek worries linger (AP)
Source: Yahoo! News: Stock Markets News | 4 May 2010 | 4:04 am BP weighs on FTSE as Greek worries linger (AP)
Source: Yahoo! News: Business News | 4 May 2010 | 4:04 am The Eruption Epidemic: More Ash, More Cancelled FlightsThe Eyjafjallajokull volcano in Iceland began to erupt again, grounding flights in the northern UK. And there are fears that the nearby Katla volcano may be unstable. Airports around Europe may be shuttered again. That would mean that the $2 billion price tag airlines paid on the first severe eruption may not be over. The Eyjafjallajokull caused [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 May 2010 | 4:03 am Indications: U.S. stock futures dip on renewed Europe jittersU.S. stock futures drop Tuesday on renewed worries over European national debts ahead of results from drug giants Pfizer and Merck.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 4:03 am UBS reports Q1 profit above expectations (AP)
Source: Yahoo! News: Business News | 4 May 2010 | 3:59 am UK manufacturing grows at fastest pace in 15 yearsBritish manufacturing activity grew last month at its fastest rate in more than 15 years, weak pound helps exporters.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 3:59 am Australia raises interest ratesAustralia's central bank raises interest rates for the sixth time in eight months as the country's economy continues to recover.Source: BBC News | Business | World Edition | 4 May 2010 | 3:56 am UBS profits up as it halts flow of wealthy clientsUBS said that its efforts to stop wealthy clients defecting to rival wealth managers were succeeding as it reported its strongest quarterly results since the financial crisis began. Source: Latest Business News from Times Online | 4 May 2010 | 3:56 am Wall St futures lower; earnings, data eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 4 May 2010 | 3:51 am Wall St futures lower; earnings, data eyed(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 were down 0.3 to 0.4 percent, pointing to a weaker start on Wall Street on Tuesday.
Source: Reuters: Business News | 4 May 2010 | 3:51 am How to buy a foreclosureYou want to buy a foreclosure? Remember, there are both great opportunities and great pressures and pitfalls in this market.Source: Business and financial news - CNNMoney.com | 4 May 2010 | 3:51 am UK manufacturing grows at fastest pace for 15 yearsBritish manufacturing grew at its fastest rate in April since September 1994, boosted by strong growth in exports. Source: Latest Business News from Times Online | 4 May 2010 | 3:50 am UBS predicts moderate withdrawals after strong Q1ZURICH (Reuters) - UBS boss Oswald Gruebel predicted moderate asset withdrawals in the short term as the Swiss bank's forecast-beating quarterly results gradually start to boost client confidence and wealth advisors' morale.
Source: Reuters: Business News | 4 May 2010 | 3:46 am China slowdown fears add to debt worriesGlobal Markets Overview: Shares fall and industrial commodities weaken as worries over an economic slowdown add to nagging concerns over the eurozone’s sovereign debt crisisSource: Financial Times - US homepage | 4 May 2010 | 3:39 am Europe Markets: European shares slide as Greece worries returnEuropean shares fell on Tuesday, with banks down as worries about the financial health of Southern European countries resurfaced, while miners were slammed by a proposed tax hike in Australia.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 3:35 am Economic Report: German retail sales fall 2.4% in MarchGerman retail sales fall more sharply than expected in March.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 3:35 am At the heart of oil spill, 11 grieving families (AP)
Source: Yahoo! News: Business News | 4 May 2010 | 3:31 am An “Inside Baseball” Look At UAL-Continental Deal–Labor Unions At The CoreBy Robert Herbst And so it goes after years of trying, United Airlines (NASDAQ: UAUA) finally found a competing airline to say “yes.” Big “deals” usually mean there is a consequence to doing something and a consequence to not doing it. The ramifications of United and Continental “not” making this deal were considerably more negative for each [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 May 2010 | 3:30 am Mortgage lending dives, fears grow for housing recoveryMortgage lending dived by 83pc during March, fuelling speculation that the housing market recovery is losing steam.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 3:25 am Flying high?Can consolidation benefit the world's biggest airlines?Source: BBC News | Business | World Edition | 4 May 2010 | 3:23 am Aer Lingus counts ash chaos costIrish airline Aer Lingus says the disruption caused by the volcanic ash cloud last month has cost it about 20m euros.Source: BBC News | Business | World Edition | 4 May 2010 | 3:21 am Why Amish businesses don't failWant to find America's most successful entrepreneurs? Skip Silicon Valley and Manhattan; head to the rural Amish enclaves.Source: Business and financial news - CNNMoney.com | 4 May 2010 | 3:20 am Treasury To Raise $340 Billion This QuarterThe need for money to support the federal deficit in the April to June period grew from earlier forecasts. The Treasury expects to issue $340 billion in net marketable debt, assuming an end-of-June cash balance of $280 billion. The borrowing estimate is $71 billion higher than announced in February 2010, Treasury said. The figure includes [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 May 2010 | 3:16 am Stocks set to slipU.S. stocks looked set to decline at the start of trading Tuesday as investors mulled the previous session's big rally.Source: Business and financial news - CNNMoney.com | 4 May 2010 | 3:14 am U.S. hedge fund Fortress eyes Asia comeback: sourcesSINGAPORE (Reuters) - Fortress Investment , one of the world's largest publicly traded alternative asset managers, plans to rebuild its Asian operations and is in the process of setting up an office in Singapore, sources said.
Source: Reuters: Business News | 4 May 2010 | 3:12 am Record Q1 profits for Standard CharteredStandard Chartered said it would report record first-quarter income and profit on the back of a strong performance in its wholesale banking division. Source: Latest Business News from Times Online | 4 May 2010 | 2:57 am BP says stemming oil flow will take three monthsThe fight to cut off the flow of oil feeding the giant oil slick in the Gulf of Mexico could take three months, BP said today. Source: Latest Business News from Times Online | 4 May 2010 | 2:56 am Greek protesters drape banners on Acropolis (AP)
Source: Yahoo! News: Business News | 4 May 2010 | 2:47 am NYSE Euronext profit boosted by derivatives gains (Reuters)
Source: Yahoo! News: Stock Markets News | 4 May 2010 | 2:46 am NYSE Euronext profit boosted by derivatives gainsLONDON/NEW YORK (Reuters) - NYSE Euronext reported a 26 percent increase in quarterly profit as its growing derivatives operation offset sluggish stock trading.
Source: Reuters: Business News | 4 May 2010 | 2:46 am London Markets: British shares pressured as banks, miners declineBritish shares are pressured as investors returned from a three-day weekend to sell shares in mining companies, oil giant BP and banks.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 2:46 am When is an annuity worth it?Question: I just don't understand annuities. There seems to be a lot of buzz about their guaranteed income as a crucial piece of any retirement portfolio. But if I have $100,000, then I already have guaranteed cash to pull from that is not subject to fees or penalties. And I may benefit from higher interest rates in the future. So why would I buy a $100,000 annuity? What am I missing? -- Dave, Denver, ColoradoSource: Business and financial news - CNNMoney.com | 4 May 2010 | 2:42 am Greek worries linger, pressure stocks, euro (Reuters)
Source: Yahoo! News: Stock Markets News | 4 May 2010 | 2:39 am Standard Chartered profits boosted by investment banking, AsiaStandard Chartered said it made record first-quarter profits due to buoyant commercial and investment banking business and improving consumer banking in its key Asia markets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 2:37 am Standard Chartered profits riseLondon-based bank Standard Chartered says it made record profits and income in the first three months of 2010.Source: BBC News | Business | World Edition | 4 May 2010 | 2:35 am The next 'hot' careersDear Annie: I'm a sophomore in college, majoring in business. Even though I still have two more years of school ahead of me, I'm trying to figure out what kinds of jobs are likely to be available when I graduate. For one thing, having a handle on that would help me choose a minor. I'll also be graduating with loans to pay off, so I'll need to start working right away.Source: Business and financial news - CNNMoney.com | 4 May 2010 | 2:35 am BP under pressure over oil spill costsThe White House vowed to keep its ‘boot on the throat’ of BP to make sure the UK energy group paid all costs relating to the oil spill in the Gulf of Mexico, including compensation for fishermen whose livelihoods have been destroyedSource: Financial Times - US homepage | 4 May 2010 | 2:35 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 2:31 am Greek civil servants stage strikeGreek public sector workers begin a 48-hour strike in protest at austerity measures including wage and pension cuts.Source: BBC News | Business | World Edition | 4 May 2010 | 2:29 am London miners hit by Australia's 40pc taxMining shares fell heavily in London as investor got the first chance to react to Australian government plans for a new 40pc tax on miners' profits.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 2:25 am U.K. Election: Lib Dems willing to talk to ToriesLiberal Democrat leader Nick Clegg, who may be in position to play kingmaker in the aftermath of Thursday’s British general election, left the door open to talks with Conservative leader David Cameron in the event no party wins an outright majority in the 650-seat House of Commons.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 2:23 am Quality woes at children's Tylenol makerThe maker of several over-the-counter drugs, including Tylenol, Motrin and Benadryl said Monday that it is taking "corrective actions" at its U.S. plant after some 40 children's versions of those drugs were recalled for quality concerns.Source: Business and financial news - CNNMoney.com | 4 May 2010 | 2:19 am The consumer isn't stupidThe conventional wisdom about consumers and recessions goes something like this: when the economy stinks, people trade down -- or they splurge on trivial indulgences like lipstick or booze. They're more likely to succumb to their vices -- depression, after all, is rampant during economic downturns -- propping up the alcohol, gambling, and candy industries.Source: Business and financial news - CNNMoney.com | 4 May 2010 | 2:13 am Mining shares plunge on 40% tax riseShares in some of the world’s biggest mining companies plunged in early trading today in response to Australia’s decision to press ahead with the introduction of a 40 per cent tax on miners’ profits. Source: Latest Business News from Times Online | 4 May 2010 | 2:10 am Google's Chrome now No. 3 browserSource: Business and financial news - CNNMoney.com | 4 May 2010 | 2:09 am 275,000 school jobs could disappearMore than 80% of U.S. school districts are expected to eliminate jobs and more than half will likely freeze hiring during the upcoming school year, an education organization said Tuesday.Source: Business and financial news - CNNMoney.com | 4 May 2010 | 2:08 am Media Digest 5/4/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: The Senate will begin to vote on the financial reform bill. Reuters: Regulators are considering an antitrust case against Apple (NASDAQ: AAPL) Reuters: Tensions between Germany and France over the Greek bailout may hurt the Eurozone’s prospects. Reuters: S&P announced new credit score ratings for 26,000 companies Reuters: Oil dropped below $86 on high [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 May 2010 | 2:07 am Teva net climbs 58% as Copaxone sales riseTeva Pharmaceutical Industries Ltd. on Tuesday reported first-quarter net income rose 58%, helped by continued strong sales results from multiple-sclerosis drug Copaxone.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 2:01 am Cost Savings Drive End Users in Europe to Embrace Integrated Facilities Management, Finds Frost & SullivanSource: RSS feed - channel BNewsBusiness | 4 May 2010 | 2:00 am UBS returns to profit on fixed-income performanceHard-hit Swiss bank UBS on Tuesday returns to profit for the first quarter as an absence of write-downs as well as improving fixed-income revenue offset continued outflows from wealthy clients.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 1:59 am BP shares slide in London as oil spill expandsBP shares fall 4pc as investor react to the fallout from the Gulf of Mexico oil disaster.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 1:52 am Alstom raises payout 11% as profit grows 10%French power and transportation firm Alstom S.A. reports a 10% rise in fiscal-year profit and raises its dividend 11%, even as the orders it received dropped nearly 40%.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 1:37 am Schwarzenegger ends support for offshore drilling (AP)
Source: Yahoo! News: Business News | 4 May 2010 | 1:36 am FTSE 100 flat at open (AFP)
Source: Yahoo! News: Stock Markets News | 4 May 2010 | 1:33 am Greek is the wordThe BBC looks at the Greece-effect on stock marketsSource: BBC News | Business | World Edition | 4 May 2010 | 1:19 am Gulf Coast watches, waits for path of oil spill (AP)
Source: Yahoo! News: Business News | 4 May 2010 | 1:15 am NTSB weighs lessons from Hudson River ditching (AP)
Source: Yahoo! News: Business News | 4 May 2010 | 1:14 am Business Bullet: Australia, Miners, Aer Lingus, Stan. CharteredThe latest news on: Australia, Miners, Aer Lingus, Stan. CharteredSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 1:07 am UBS posts best profits in three yearsUBS, the Swiss bank, reported a first-quarter net profit of SFr2.2bn (£1.3bn) on Tuesday on a strong performance by its trading division and lower customer withdrawals.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 1:04 am Benefits of United-Continental merger are up in the airAirline executives say the deal would result in 'best-in-class customer service' for travelers, but passenger advocates have their doubts. ...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am Funeral homes seek to legalize 'bio-cremation' as a green alternativeA bill headed for an Assembly vote would broaden the definition of cremation to include the use of either fire and water, thus legalizing the alkaline hydrolysis method, which speeds up decomposition...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am PG&E's campaign tactics are illegal, California regulators warnPacific Gas & Electric is told to stop using phone and direct-mail tactics that could derail competition from the state's first nonprofit group to offer electric service. ...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am Funeral homes seek to legalize 'bio-cremation' as a green alternativeA bill headed for an Assembly vote would broaden the definition of cremation to include the use of either fire and water, thus legalizing the alkaline hydrolysis method, which speeds up decomposition.California funeral directors are eager to start offering clients a new natural and greener way to dispose of their loved ones' remains, but they need a change in state law first.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am Lumber dealer Ganahl buys shuttered Pasadena car dealershipThe company plans to turn the Team Chevrolet location into a wood and hardware store.A recently closed Chevrolet dealership on Colorado Boulevard in Pasadena has been purchased for close to $10 million by Orange County lumber dealer Ganahl Lumber Co., which plans to turn the four-acre site into a lumber and hardware store.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am Lumber dealer Ganahl buys shuttered Pasadena car dealershipThe company plans to turn the Team Chevrolet location into a wood and hardware store. A recently closed Chevrolet...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am James R. Burbage, III, CEO, Lloyds Commodities is Featured Presenter at Las Vegas MoneyShow.comSource: RSS feed - channel BNewsBusiness | 4 May 2010 | 1:00 am Automakers' sales jump almost 20% in April from a year earlierAuto sales surged in April from depressed levels of a year earlier, but the selling pace slumped from March, when several manufacturers launched major marketing campaigns and began offering big incentives...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am Mixed signals for economic recoveryIncreased factory output and consumer spending are shadowed by stagnant pay and weak hiring. WASHINGTON —...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am United, Continental to form world's largest airlineUnited will buy out Continental in a deal worth $3 billion, if regulators and unions approve. The new airline will keep the United name and headquarters and the Continental logo. ...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am Mixed signals for economic recoveryIncreased factory output and consumer spending are shadowed by stagnant pay and weak hiring.WASHINGTON — U.S. factories are churning out more goods. Consumers are spending. Government aid is fueling construction activity. But stagnant pay and weak hiring will likely restrain the economic rebound in coming months.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am Gas prices jump and oil futures edge upOil prices could quickly reach $100 a barrel in a worst-case scenario in which the Gulf of Mexico leak continues unchecked for months, analysts say.Gasoline prices are rising nationwide as the summer driving season nears, and oil futures appear poised for a breakout on encouraging economic news and fears about the seriousness of the Gulf of Mexico oil spill.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am Shareholder suits target Goldman SachsThe firm details seven legal actions taken by investors since it was accused of fraud by the SEC on April 16.Shareholders are slamming Goldman Sachs Group Inc. since the government accused the firm's investment bank of fraud less than three weeks ago.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am Benefits of United-Continental merger are up in the airAirline executives say the deal would result in 'best-in-class customer service' for travelers, but passenger advocates have their doubts.As expected, United Airlines and Continental Airlines announced Monday that they're climbing into the cockpit together, creating the world's largest carrier. And, as expected, the two companies said this would result in "best-in-class customer service" for passengers.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am Automakers' sales jump almost 20% in April from a year earlierAuto sales surged in April from depressed levels of a year earlier, but the selling pace slumped from March, when several manufacturers launched major marketing campaigns and began offering big incentives to buyers.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am PG&E's campaign tactics are illegal, California regulators warnPacific Gas & Electric is told to stop using phone and direct-mail tactics that could derail competition from the state's first nonprofit group to offer electric service.California utility regulators Monday warned Pacific Gas & Electric Co. to stop using telephone and direct-mail tactics that could derail competition from the state's first nonprofit group to offer electric service.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am United, Continental to form world's largest airlineUnited will buy out Continental in a deal worth $3 billion, if regulators and unions approve. The new airline will keep the United name and headquarters and the Continental logo.United Airlines and Continental Airlines Inc. announced a $3-billion merger on Monday, a marriage that would create the world's biggest airline.
Source: L.A. Times - Business | 4 May 2010 | 1:00 am Gas prices jump and oil futures edge upOil prices could quickly reach $100 a barrel in a worst-case scenario in which the Gulf of Mexico leak continues unchecked for months, analysts say. ...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am Shareholder suits target Goldman SachsThe firm details seven legal actions taken by investors since it was accused of fraud by the SEC on April 16. ...Source: RSS feed - channel BNPaperBusiness | 4 May 2010 | 1:00 am UBS results show signs of recoverySwiss bank beats last month’s profits forecast with first-quarter net earnings of SFr2.20bn after a marked recovery in almost all its activitiesSource: Financial Times - US homepage | 4 May 2010 | 12:59 am NYSE Euronext quarterly profit up 26 percentLONDON/NEW YORK (Reuters) - NYSE Euronext said on Tuesday its quarterly profit rose 26 percent, matching expectations as its growing derivatives operation offset sluggish stock trading at...Source: RSS feed - channel BNewsBusiness | 4 May 2010 | 12:59 am UBS sees moderate withdrawals after strong Q1ZURICH (Reuters) - UBS's boss Oswald Gruebel said withdrawals by rich clients would stay at moderate levels near term as the Swiss bank beat forecasts by posting its strongest quarterly...Source: RSS feed - channel BNewsBusiness | 4 May 2010 | 12:32 am Times Square bombing suspect arrestedA man suspected in the failed Saturday bombing of Times Square, New York, is arrested while trying to leave the country.
Source: MarketWatch.com - Top Stories | 4 May 2010 | 12:22 am NZ shares feel weight of AustraliaThe New Zealand sharemarket inched up about half a per cent today as it continued to feel the weight of the Australian market, still reeling from news of a tax on the key mining industry.The benchmark NZX-50 index closed up 17.66...Source: nzherald.co.nz - Business | 4 May 2010 | 12:21 am Man arrested over Times Square plotUS Attorney General Eric Holder announced that a US citizen had been arrested in connection with the weekend’s failed bomb attack on Times Square while attempting to flee the countrySource: Financial Times - US homepage | 4 May 2010 | 12:18 am Australia raises interest rates to 4.5pcAustralia's central bank raised its main interest rate by 25 basis points to 4.5pc on Tuesday, citing inflation concerns, rising house prices and the booming commodities trade.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 May 2010 | 12:16 am The Red Flag Group to Speak at Landmark Washington DC Audit Committee ConferenceSource: RSS feed - channel BNewsBusiness | 4 May 2010 | 12:00 am No fireworks for NZ dollarThe New Zealand dollar trailed off during the day, but largely held up against the Australian dollar despite an interest rate rise across the Tasman.By 5pm, the kiwi was at US72.96c, a touch firmer than the same time yesterday,...Source: nzherald.co.nz - Business | 3 May 2010 | 11:52 pm UBS posts 2.2 billion francs in first quarter profitsSwiss banking giant UBS on Tuesday posted net profits reaching 2.2 billion francs (1.54 billion euros, 2.3 billion dollars) for the first quarter, up 83 percent from the previous quarter.Source: RSS feed - channel BNewsBusiness | 3 May 2010 | 11:37 pm French rogue trader recalls 'banking orgy' in tell-all bookOne month before he goes on trial, former French trader Jerome Kerviel is making his case in a tell-all book that likens trading to prostitution and hits out at the "big banking orgy." ...Source: RSS feed - channel BNewsBusiness | 3 May 2010 | 11:34 pm Galatasaray Sportif's Board Blocks QVT Initiative for Enhanced Disclosure, Corporate Governance Reform and Recovery of Inappropriate LoansSource: RSS feed - channel BNewsBusiness | 3 May 2010 | 11:30 pm Oil below $86 as traders eye US crude suppliesOil prices dropped below $86 a barrel Tuesday in Asia as traders anticipated another increase in U.S. crude supplies from a government report due later this week. Benchmark crude for...Source: RSS feed - channel BNewsBusiness | 3 May 2010 | 10:49 pm S&P launches new credit scores for 26,000 companiesNEW YORK (Reuters) - S&P Valuation and Risk Strategies, part of McGraw-Hill Co's Standard & Poor's, has launched a new credit score tool that lets users compare credit profiles of...Source: RSS feed - channel BNewsBusiness | 3 May 2010 | 10:49 pm S&P launches new credit scores for 26,000 companiesNEW YORK (Reuters) - S&P Valuation and Risk Strategies, part of McGraw-Hill Co's Standard & Poor's, has launched a new credit score tool that lets users compare credit profiles of more than 26,000 companies worldwide.
Source: Reuters: Business News | 3 May 2010 | 10:49 pm Voting begins in Senate on Wall Street reformWASHINGTON (Reuters) - The U.S. Senate will cast its first votes on Tuesday on a sweeping Wall Street reform bill, with passage of a handful of uncontroversial amendments expected and a key procedural question still unsettled.
Source: Reuters: Business News | 3 May 2010 | 10:37 pm How One Stock Can Hurt an ETFSome single-country ETFs may rely too much on just a few firms.
Source: SmartMoney.com | 3 May 2010 | 10:00 pm 3 Companies With Highly Productive Workers (Screens)Hough: These firms produce plenty of sales and profits per employee.
Source: SmartMoney.com | 3 May 2010 | 10:00 pm The New Dell's Daunting New ChallengesDell's founder orchestrates a major makeover: Too little, too late?
Source: SmartMoney.com | 3 May 2010 | 10:00 pm Is Swiping a Card Less Rewarding? (Card Sharp)Since the new credit-card law, some issuers have grown stingier.
Source: SmartMoney.com | 3 May 2010 | 10:00 pm Retailers' group denies tobacco industry backingMedia commentators are questioning the motives and backing of a new lobby group for the country's small retailers - suggesting it is backed by big tobacco companies and their PR companies.But the group says it is entirely funded...Source: nzherald.co.nz - Business | 3 May 2010 | 9:26 pm Annual wage and salary rise slowest in nine yearsSalary and wage rates as measured by the labour cost index (LCI) rose just 1.5 per cent in the year to the March quarter, the slowest rise in more than nine years.Figures released by Statistics New Zealand (SNZ) today show public...Source: nzherald.co.nz - Business | 3 May 2010 | 9:25 pm Big US banks ease credit to businessLarge US banks eased standards and terms on a wide range of business loans and some consumer loans in recent months, offering hope that the contraction in credit afflicting the US economy since the recession...Source: RSS feed - channel BNPaperBusiness | 3 May 2010 | 9:15 pm Newcrest wins over Lihir with $8.5 billion offerMELBOURNE (Reuters) - Australia's top gold miner, Newcrest Mining , agreed a $8.5 billion takeover of Lihir Gold on Tuesday, signaling a hunger for foreign income among local miners after Canberra hit them with a new tax.
Source: Reuters: Business News | 3 May 2010 | 7:54 pm Motorola's Brown to mull dividend after separationROLLING MEADOWS, ILL (Reuters) - Motorola Inc's Co-Chief Executive told shareholders on Monday that the company's enterprise and networks business would consider paying a dividend after Motorola splits into two separate entities next year.
Source: Reuters: Business News | 3 May 2010 | 7:47 pm Not even Bruckheimer movies can escape budget cutsThe next 'Pirates of the Caribbean' will have a tighter filming schedule, cheaper locations and fewer visual effects shots.Like the subtitle of his next "Pirates of the Caribbean" movie, producer Jerry Bruckheimer has found himself "on stranger tides" at Disney.
Source: L.A. Times - Business | 3 May 2010 | 7:35 pm Advent coining it with sale of PoundlandPoundland, the discount retailer, has been bought by Warburg Pincus, the US private equity group, in a deal believed to be worth about £200 million. Source: Latest Business News from Times Online | 3 May 2010 | 6:03 pm Apple iPad tops one million sales in 28 daysSales of Apple’s iPad tablet computer have topped the one million mark in 28 days, the company has said. Source: Latest Business News from Times Online | 3 May 2010 | 6:01 pm Americans scent victory in race for football’s greatest prizeThe World Cup battle between the three stripes, the swoosh and the sleek cat has begun in earnest. So forget about Wayne Rooney, Cristiano Ronaldo and Thierry Henry, who are mere millionaire players — what really matters is the $11 billion sports footwear market.$ Source: Latest Business News from Times Online | 3 May 2010 | 6:01 pm Do the maths, and the need for NHS reform becomes darkly clearAll three party manifestos on health are remarkable for their similarities — be it pledges on patient waiting times, GP access, talking therapies or foundation trusts. But the most telling similarity is an absence. The elephant in the room is proper financial calculation. Source: Latest Business News from Times Online | 3 May 2010 | 6:01 pm Off with their heads! Soon the cuts will beginThey would like us to think that their inspiration is Barack Obama’s The Audacity of Hope. But in fact, as the country prepares to go to the polls, the political parties seem to have been more influenced by Hunter S. Thompson’s Fear and Loathing on the Campaign Trail. Source: Latest Business News from Times Online | 3 May 2010 | 6:01 pm Taxes could boost fuel prices further - AANew Zealand diesel prices hit their highest level in 17 months in April on the back of rising crude oil prices, and tax increases could add another 10 cents a litre to the price of petrol by the end of the year, says the Automobile...Source: nzherald.co.nz - Business | 3 May 2010 | 6:00 pm Apple faces US antitrust scrutinyUS authorities signal an interest in a potential antitrust probe into whether the software underpinning Apple’s iPhone unfairly locks out competitorsSource: Financial Times - US homepage | 3 May 2010 | 5:55 pm Simon bids $5.8 billion for all of General GrowthNEW YORK (Reuters) - Simon Property Group Inc has bid $5.8 billion for all of General Growth Properties Inc , even as its offer to buy a minority stake in its rival was rejected, sources familiar with the matter said on Monday.
Source: Reuters: Business News | 3 May 2010 | 5:52 pm Beazer Homes turns profit on higher sales (AP)AP - Beazer Homes USA Inc. said Monday it turned a profit in its second quarter, reversing a loss from a year earlier as the number of completed home sales rose.Source: Yahoo! News: Business News | 3 May 2010 | 5:51 pm Cost of Goldman debt insurance soarsThe cost of insuring Goldman Sachs’ debt against default is nearing that of less profitable rivals as the bank’s regulatory woes take a toll on investors’ confidence and its standing on Wall StreetSource: Financial Times - US homepage | 3 May 2010 | 5:43 pm Signs Of The Apocalypse: Federal Government Hiring Drives Jobs GrowthThe major concern about the March employment numbers is that the economy added 162,000 jobs, but of those, 48,000 were temporary workers who have been hired for the 2010 Census. Economists pointed out that this Census employee trend does very little for long-term job creation. It will take years to replace the eight million jobs lost during the recession. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 May 2010 | 5:36 pm Regulators mull antitrust look at Apple: sourceSAN FRANCISCO (Reuters) - Regulators are considering an inquiry into whether Apple Inc violates antitrust law by requiring that its programing tools be used to write applications for the iPad and iPhone, a source familiar with the matter said on Monday.
Source: Reuters: Business News | 3 May 2010 | 5:26 pm NZ sharemarket rises earlyThe New Zealand sharemarket rose in early trade after stocks in the United States staged a broad rally with investors buoyed by improving data on manufacturing, consumer spending and construction.Around 10.15am the benchmark NZX-50...Source: nzherald.co.nz - Business | 3 May 2010 | 5:16 pm Disappointed Norgate eyes greener pasturesCraig Norgate, the businessman instrumental in the creation of Fonterra and PGG Wrightson, may head offshore as his New Zealand investments are wound down.Trading in redeemable preference shares (RPS) for his investment company...Source: nzherald.co.nz - Business | 3 May 2010 | 5:00 pm Trading growth on NZX stalls in AprilTrading growth on NZX Ltd's markets stalled in April, with a decline in the value and volume of trades from a month earlier. Total trades dropped 11 per cent to 45,284 in April from a month earlier, and were up 2 per cent from...Source: nzherald.co.nz - Business | 3 May 2010 | 4:58 pm Iran president defiant at UN talksPresident Ahmadi-Nejad took centre stage at a United Nations conference, reacting to a US bid to bolster nuclear non-proliferation rules by calling for action against Washington itselfSource: Financial Times - US homepage | 3 May 2010 | 4:54 pm Why Are College Students Studying Less?By Jacob Goldstein The amount of time college students spent studying fell from 40 hours per week in 1960 to 27 hours per week in 2003, a new study found. There are lots of non-slacker reasons for this to be the case: More students work now, students pursue different majors, more students go to school part-time. But none of these explanations account for the decline. The authors, economists at UC Riverside and UC Santa Barbara, write: Study time fell for students from all demographic subgroups, within race, gender, ability, and family background, overall and within major, for students who worked in college and for those who did not, and the declines occurred at 4-year colleges of every type, size, degree structure, and level of selectivity. The study was limited to full-time, fourth-year seniors. Most of the decline came between the early '60s and the early '80s. The data come from a variety of surveys, and the authors went through lots of contortions to try to make the findings from each survey comparable to the findings from all of the others. The surveys don't provide the answer to why study time has declined. But the authors venture a few guesses. Maybe technology allows students to do more in less time (think laptop v. typewriter). Maybe competition among colleges has led schools "to cater to students' desires for leisure," the authors write. Your guess is as good as theirs: Assuming this finding is correct, why are college students studying less than they used to? » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 May 2010 | 4:50 pm Write-Offs: 05.03.10$$$ Obama Seeks CEO Advice on Economy, Regulation at White House Over Dinner With Jamie Dimon [Bloomberg] $$$ Warren Buffett channels his inner Tammy Wynette [Crain's] $$$ Goldman’s Management Should Be Replaced, Bove Says, Again [Bloomberg] $$$ Charlie Gasparino: Goldman Sachs CEO Knows Job Is on Line in Face of Government Probe [FBN] $$$ General Growth Properties Submits Revised $6.55 Billion Investment and an Additional $2 Billion Backstop Offer From Brookfield, Pershing Square and Fairholme, Seeks Court Approval for Bidding Procedures [MarketWatch] 
Source: Dealbreaker | 3 May 2010 | 4:44 pm Facebook MarketingThe last time I looked (this morning in fact) there are about 1.5m kiwis on Facebook. Approximately 56 per cent of those are female. As a platform for reaching kiwi customers it's great!Facebook offers a wide range of tools for...Source: nzherald.co.nz - Business | 3 May 2010 | 4:30 pm Car shoppers take a wait-and-see approach in April (AP)
Source: Yahoo! News: Business News | 3 May 2010 | 4:27 pm Carmakers pump up productionGlobal car production surged by more than 50 per cent in the first quarter of this year, confirming executives’ affirmations that the worst of the crisis in the industry that began after the banking meltdown in late 2008 has passedSource: Financial Times - US homepage | 3 May 2010 | 4:11 pm Summary Box: Stocks bounce back on economic data (AP)AP - REBOUNDING DOW: The Dow Jones industrials rose 143 points Monday after falling nearly 159 on Friday. It was the Dow's biggest gain in more than two and a half months.Source: Yahoo! News: Stock Markets News | 3 May 2010 | 4:07 pm Rise in NYC income tax revs shows brighter economy (Reuters)Reuters - New York City's income tax revenue rose slightly in April, a financial source said on Monday, an indication hiring could be gaining as the city fights a string of multibillion dollar budget deficits over several years.Source: Yahoo! News: Business News | 3 May 2010 | 4:07 pm Top After-Hours Stock Movers (BZH, BP, FSS, IVAC, LF, MCK, MU, NTRI, PBI, PWAV, QCOR, SPG, GGP)We have many after-hours movers. Some are earnings related, and some are not. Movers in the after-hours session include Beazer Homes USA, Inc. (NYSE: BZH), BP plc (NYSE: BP), Federal Signal Corporation (NYSE: FSS), Intevac Inc. (NASDAQ: IVAC), Leapfrog Enterprises Inc. (NYSE: LF), McKesson Corporation (NYSE: MCK), Micron Technology, Inc. (NASDAQ: MU), NutriSystem Inc. (NASDAQ: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 May 2010 | 4:01 pm Basel regulators weigh cost of reformTough rules requiring banks to set aside more funds to cope with future crises could cut world economic growth by up to 1 percentage point, a leading architect of the reforms has told the Financial TimesSource: Financial Times - US homepage | 3 May 2010 | 4:01 pm Gareth Morgan: Lending and tax policies toxic mixIt is important to understand the source of the bulk of the profit in the property rental game and why it escapes tax.It is the capital gain, and the relevant question is why does this asset class appear to have permanent and...Source: nzherald.co.nz - Business | 3 May 2010 | 4:00 pm Stronger economic reports pull stocks higher (AP)
Source: Yahoo! News: Stock Markets News | 3 May 2010 | 3:59 pm How the major stock indexes fared on Monday (AP)AP - Investors sent stocks soaring Monday after getting a boost of confidence from the latest economic reports and Warren Buffett's defense of Goldman Sachs.Source: Yahoo! News: Stock Markets News | 3 May 2010 | 3:57 pm Letter Reveals More Names in Galleon Case
So for we know about several of Khan’s associates connected to the case including Raj Rajaratnam, ex-SAC trader Choo-Beng Lee, Ali Far, Intel executive Rajiv Goel, Anil Kumar and Lenaxa Global Management trader Thomas Hardin (aka Tipper X.) And last week, we learned that prosecutors are running “covert investigations” that involve two individuals occasionally mentioned in several interviews Khan had with federal agents. That info came to light in a motion by Rajaratnam’s seeking access to unredacted transcripts of the interviews. Judge Richard Holwell quickly denied Raj’s motion because of the ongoing investigation. But a newly-released letter written by Khan’s lawyer in February shows the SEC was looking for information on previously unidentified people in the case. The names surfaced in a list of search terms the SEC used in a sweep of Khan’s five computers during their investigation of the Galleon case. The search terms appear in a footnote from a February letter written by Khan’s attorney to Judge Jed Rakoff. (See Page 2 of letter.) In addition to those we already know are involved in the case, several other names appear in the list of search terms. According to a source close to the case, two of the names on the list are San Francisco financial advisors who did business Khan. They are: Jay Casey of Deutsche Bank and Jeffrey Turnbaugh of Bear Stearns (now JPMorgan.) The source would not say whether the two men are suspects in the case and neither has been charged with any wrongdoing. Spokespeople for JPMorgan and Deutsche Bank declined to comment. Khan already has a history with Deutsche Bank, but that seemed to end in 2005 when she and her husband were sued by the bank for failing to repay a large promissory note. All of the other names that appeared on the list of search terms are in some way involved in the case, although not all have been charged. They include Sunil Bhalla, an executive at Polycom who allegedly provided Khan with inside information, and Shammara Hussain, an employee of investor relations firm Market Street Partners who tipped Khan off to Google’s earnings. Also appearing in the search terms are “Karan Malik,” “Gilroy D’Souza,” “Rafiq Hussain” and “Rohit Malik.” It’s unclear who these individuals are or their connections with Khan.
Source: Dealbreaker | 3 May 2010 | 3:56 pm Market value of companies in rig disaster drops (AP)AP - The companies involved in the Gulf of Mexico rig disaster have lost billions of dollars in market capitalization since the explosion and sinking that sent a massive oil spill toward the Gulf Coast.Source: Yahoo! News: Stock Markets News | 3 May 2010 | 3:34 pm US market report: airlines head up, up and awayAs those who want to emulate Ryan Bingham - the air mile-collecting obsessive in the hit film Up in the Air - rubbed their hands at the thought of the expanded new routes they might travel on following the much-anticipated merger announcement between Continental and United, investors in the airline sector did likewise.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 3 May 2010 | 3:16 pm Coca-Cola, Hyatt, Restaurants, Mitigating Risk: Taking StockSource: Bloomberg - All Podcasts | 3 May 2010 | 3:12 pm Caption Contest Monday
Jimmy Cayne Spotting: The Ex-Bear CEO At a Reno Poker Table [WSJ]
Source: Dealbreaker | 3 May 2010 | 3:04 pm Cricket match at centre of airline price-fixing trialSnapped: the game that is playing a key role in the trial of four British Airways executives.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 3 May 2010 | 2:51 pm 24 Hours At Wal-MartStephen Wilkes - Time-Lapse: A Day at A Walmart Store. via Fortune » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 May 2010 | 2:25 pm Boss Harassed Underling With Porn, Paws, Post-Its
In the event you are interested in all that, please note that the firm is now accepting applications for summer internships and “MBA fellowships.” And also that there’s a thing called The Guerriero Institute, founded by Professor Tom. Stockbroker says her boss sent her lewd video of himself [NYP]
Source: Dealbreaker | 3 May 2010 | 2:22 pm Corvettes recalled for steering column issueGeneral Motors is recalling about 40,000 Chevrolet Corvette sports cars because of a problem in which repeatedly adjusting the position of the steering column can cause the cars' electronic stability control activate when it shouldn't.Source: Business and financial news - CNNMoney.com | 3 May 2010 | 2:03 pm All About the 2010 Recall on Children’s Medicine
McNeil, a division of Johnson & Johnson, has recalled Children’s Tylenol, Children’s Motrin, Children’s Zyrtec, and Children’s Benadryl. Infants’ versions of these drugs are also affected. Only the liquid forms of these products are being recalled. If you have pills, don’t worry about this recall. McNeil says to stop using those products if you currently have them. Ask your doctor or pharmacist for generic versions. No “adverse medical events” have been associated with the Children’s Tylenol and other products being recalled, according to McNeil’s press release. One of the company’s manufacturing plants was churning out subpar products. According to McNeil: Some of the products included in the recall may contain a higher concentration of active ingredient than is specified; others may contain inactive ingredients that may not meet internal testing requirements; and others may contain tiny particles. While the potential for serious medical events is remote, the company advises consumers who have purchased these recalled products to discontinue use. If your child vomits, feels nauseous, has an upset stomach, or experiences any other abnormal symptoms after taking the recalled product, call your doctor. The plant is being repaired. In the meantime, parents should stop using the medication and see McNeilProductRecall.com, the company’s website, for more information. You can also call the company at 1-888-222-6036. Here’s a complete list of Tylenol products being recalled. Here’s the full list of affected Motrin products. This is the Zyrtec recall list. The only Benadryl product being recalled is Children’s Benadryl Allergy/Dye-Free Bubblegum Flavored Liquid. Find the relevant Benadryl UPC/NDC codes at the bottom of this page. You can order a refund or discount coupon for a new product here.
Source: Business Pundit | 3 May 2010 | 1:49 pm Dear Green Lanterns
Source: Dealbreaker | 3 May 2010 | 1:15 pm Partying Like It's 2004By Jacob Goldstein Once again, Americans' spending is growing more quickly than their income. Personal income increased by $36 billion in March, while spending by individuals increased by $59 billion, the government said today. In the short term, this is good for the economy -- people buy more stuff, businesses hire more employees. That in turn means more people can buy more stuff, and more businesses can hire more employees. In the long term, though, it's unsustainable. When spending rises faster than incomes, the rate of saving declines (obviously). And the savings rate in this country can't get much lower. As Calculated Risk points out, Americans' savings fell from 12% of disposable personal income 30 years ago to about 2% of personal income in 2008. The rate jumped back up a bit during the crisis, but now it's started falling again. In March, it was at about 3%, roughly equivalent to where it was back in 2004, when credit was loose and the economy was humming. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 3 May 2010 | 1:14 pm Pinnacle Entertainment Raised to `Buy', BP Cut to `Hold': AudioSource: Bloomberg - All Podcasts | 3 May 2010 | 1:12 pm Fed: Bankers Clamp Down On LendingIt is no wonder that small business and consumers are not as active as they would need to be to support a meaningful improvement in US GDP. The Federal Reserve survey of senior bank loan officers, conducted during April, indicates that financial firms have made credit more scarce in many cases, in the first quarter. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 May 2010 | 12:56 pm Searching for the perfect houseWriter and columnist Meghan Daum says she is a real estate addict. She talks with Kai Ryssdal about her new book, "Life Would Be Perfect if I Lived in that House," and her search for a home in L.A.Source: Marketplace | 3 May 2010 | 12:50 pm Unpaid furloughs hurt Ohio workersLike many states, Ohio has cut workers from its payroll to deal with a growing budget. That's lousy for employees and the public. Karen Kasler reports it may not even fix what's wrong.Source: Marketplace | 3 May 2010 | 12:50 pm Political uncertainty may hurt U.K.The U.K. general election is headed for a photo finish. But the last thing investors fretting over the U.K.'s huge budget deficit want to see is political uncertainty. Stephen Beard reports.Source: Marketplace | 3 May 2010 | 12:50 pm Oil spill's impact on Gulf coast cityReporter Kate Archer Kent talks with Kai Ryssdal about how the BP oil spill has impacted businesses in Bay St. Louis, Miss.Source: Marketplace | 3 May 2010 | 12:50 pm What rise in consumer spending meansThe Commerce Department says consumers stepped up their spending in March. But even though we're spending more, we aren't really bringing in any more money. Are we back to our old ways? Jill Barshay reports.Source: Marketplace | 3 May 2010 | 12:50 pm Will United-Continental impact prices?United and Continental have agreed to merge, a move that would overtake Delta's status as the world's largest airline. The airlines estimate it'll save them $300 million a year. Jeremy Hobson reports.Source: Marketplace | 3 May 2010 | 12:49 pm Who will foot the bill for oil spill?British Petroleum is scrambling to contain the environmental damage from the April 20th oil rig explosion as costs climb and liability questions unfold. Sarah Gardner reports U.S. taxpayers will end up paying for this disaster as well.Source: Marketplace | 3 May 2010 | 12:49 pm Presented By:Source: Dealbreaker | 3 May 2010 | 12:45 pm Pershing Square Has An Official Rule About Kicking People In The Nuts
The Dead Inside model is not the one he’s chosen to follow over the course of his career. On the contrary, Bill is stuffed to the gills with emotion, and often feels compelled to let them out. No, scratch that. Letting his salty tears flow is not a choice, just like Ackman’s passion for standing up to institutions like MBIA and saying “J’accuse!” wasn’t a choice, it was his duty. Obviously these raw and uncut displays of what Bill’s feeling haven’t prevented him from doing pretty well for himself. They have, however, caused a certain amount of agita for those around him. Bill’s visible tears at last year’s Target shareholder meeting were deeply distressing to Joe Nocera, who hasn’t yet evolved to the point where he’s comfortable seeing a grown man cry. And in Christine Richard’s Confidence Game: How A Hedge Fund Manager Called Wall Street Bluff, we learn of a couple other instances in which Bill’s inability to keep it locked up– one the adorable quirks we love most about him and probably the source of his success!– resulted in some minor and major fallout (making an employee uneasy and the enacting of the aforementioned Nut Kicking Rule, respectively). Richard writes:
And:
Source: Dealbreaker | 3 May 2010 | 12:45 pm Georgetown's Swagel: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 3 May 2010 | 12:37 pm ECB extends financial lifeline to GreeceGreece is given an unprecedented lifeline by the European Central Bank that will boost the attractiveness of its crisis-hit government bond marketSource: Financial Times - US homepage | 3 May 2010 | 12:02 pm Political Train Wreck: Opposition to Electricity Grid Plan GrowsThe American Clean Energy Leadership Act of 2009 included plans on how to pay for the cost of electricity transmission from projected wind farms in remote parts of the US to consumers who would benefit from the new sources of power. The Act proposes different methods of paying for the new grid capability, one of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 May 2010 | 10:55 am Winners & Losers in Auto Parts (JCI, ALV, BWA, GNTX)Morningstar is well known for fund research and ratings, but the company also focuses on research in many equities and ETF products as well. One of today’s focal points was on what lies ahead for auto suppliers. Some of the key parts makers and services providers included were Johnson Controls Inc. (NYSE: JCI), Autoliv, Inc. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 May 2010 | 10:28 am Dear Wall Street Defender. . .Here’s one self-described Republican responding to the email that went around last week. Thoughts?
Source: Dealbreaker | 3 May 2010 | 10:21 am Gabelli’s New Focus Five Picks (HSNI, MJN, AMTD, TIVO, WFT, CVC, KOF, STZ, MA, ESI)GAMCO Investors, Inc. (NYSE: GBL) is the parent of Gabelli & Company and is run by the very well known investment manager Mario Gabelli. This morning came the release of Gabelli’s new FOCUS FIVE stocks for the May 3 to July 30 period. These picks are HSN Inc. (NASDAQ: HSNI), Mead Johnson Nutrition Company (NYSE: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 May 2010 | 10:01 am SMB Lending is Up. What Does That Mean for You?
The current recession has hindered many people from receiving loans. According to a survey conducted by American Express, nearly one in five small businesses are unable to access the capital needed in order to effectively operate their business. Lacking funds, small business owners have tapped into their personal savings accounts and personal credit. Nearly 42% of small business owners rely on their credit cards for capital. That said, there does seem to be hope for small business owners. One recent report states that the Small Business Administration’s chief loan program has secured double the amount of loans during a three-month span compared to last year alone. During the second fiscal quarter, SBA’s lending program backed 16,558 loans and lent out a whopping $3.7 billion. This total was twice the amount processed in last year’s quarter. The 2009 Recovery Act has had an effect as well. It set aside $375 million funds to temporarily remove fees for SBA loans in order to increase a fraction of each loan. More than $24 billion in small business loans have already been processed through the Recovery Act. The SBA has also encountered a lack of funds on a total of three occasions. Because of this, President Obama has signed a legislation that encompasses an additional $40 million that carries the plan through April. During his State of the Union address, President Obama expressed that the main objective for 2010 was to create more jobs for America. If small businesses have more money in their pockets, the government estimates that they will generate 65% new jobs for the U.S. It’s no wonder that both lenders and borrowers favor the latest provisions.
Source: Business Pundit | 3 May 2010 | 9:58 am Levitt, Yergin, Casesa, Lonski, Ablin, Mayer: SurveillanceSource: Bloomberg - All Podcasts | 3 May 2010 | 9:57 am Goldman Concedes its PR Strategy was “Probably a Mistake”
But, as Lloyd told Charlie Rose on Friday, the firm is doing some “soul searching.” He conceded the firm’s longstanding strategy of not engaging with the public was “probably a mistake.” (Secretive hedge funds take note.) That strategy sowed a misunderstanding among the public at large about what the firm actually does, he said.Well, it’s taken a financial meltdown, civil fraud allegations and, most importantly, a big drop in its stock price for Goldman to finally realize it needs a better way of telling its story. It recently hired Mark Fabiani, a crisis management expert who was a special counsel to President Bill Clinton, to help repair its image. “We’re very important but the public doesn’t see that,” Blankfein said on the show. “There are ways in which I can do a better job of informing people about markets and what we do and the contribution we make. We have to be more transparent.” On the Volcker Rule, Blankfein said it would only affect about 10 percent of the firm’s revenues. “If we eliminated all the activity that’s unrelated to client activity at Goldman Sachs, it would probably do away with about 10 percent of our revenue,” he said. Also, forget any notion of Goldman reverting back to a private partnership, as some have suggested, because it needs access to permanent capital, Blankfein said on the show. In addition to the strong support from Warren Buffett, the negative publicity doesn’t seem to have affected Goldman’s client business. It advised, along with JPMorgan, on United’s $3 billion merger with Continental and it’s advising, and providing financing, for Pearson’s $3.1 billion sale of its Interactive Data unit.
Source: Dealbreaker | 3 May 2010 | 9:46 am Warren Buffett, Defender Of Goldman SachsBy Jacob Goldstein Warren Buffett has this image as a no-nonsense, middle-America value investor. But these days he's defending Goldman Sachs and Moody's, and pushing to block rules that would require a more cautious approach to the derivatives business. Given his business interests, this is only natural. "I haven't seen anything in Goldman's behavior that makes it any more subject to criticism than Wall Street generally," Buffett said at a news conference yesterday, the WSJ reports. He explicitly addressed Abacus, the deal at the center of the SEC's lawsuit against Goldman: "I have no problem with that Abacus transaction. If there were other things that were hugely troublesome, I haven't seen them." During the crisis, Buffett's Berkshire Hathaway loaned money to Goldman; in exchange, Berkshire got warrants entitling it to buy billions of dollars worth of Goldman stock at $115 per share. Goldman shares have fallen sharply in the past few weeks, but they're still trading above $145. So Berkshire is in the money on its warrants. Still, the higher the shares rise, the more Berkshire stands to profit. Berkshire also owns a large stake in Moody's, one of the big ratings agencies. Buffett said this weekend that the agencies are "incredibly wonderful businesses," and added that their "pricing power is significant." The agencies' business model -- they're paid by people who stand to benefit from a high rating -- has been criticized, particularly given the fact that lots of high-rated securities fell apart during the bust. Buffett, who has criticized the risk that derivatives can create, has also been pushing to block new rules that would require companies to set aside collateral -- money they might need to pay off existing derivatives contracts. In his letter to shareholders this year, Buffett explained that Berkshire gets to hold more than $8 billion in "float" from its derivatives business. He added that the company only has to post small amounts of collateral against its derivatives contracts -- allowing it to plow much of the $8 billion into profitable investments. New collateral rules could eat into those profits. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 May 2010 | 9:42 am Jerome Kerviel Has A Really Good Excuse For Why He Lost Soc-Gen €4.9 billion "You lookin for a good time?" Naturally it involves sucking dick for coke. I’m kidding! Though an admitted prostie, Kerviel is not that kind of whore.
Rogue trader: ‘I was only a prostitute in great banking orgy’ [NZH via BI]
Source: Dealbreaker | 3 May 2010 | 8:15 am Apple Sold 1 million iPads Last Month
Apple recently announced that it sold 1 million iPads during the past 28 days. No wonder Google’s racing to catch up. Mashable has the scoop: Apple today announced that it sold its one millionth iPad on Friday, just 28 days after its introduction on April 3. iPad users have already downloaded over 12 million apps from the App Store and over 1.5 million ebooks from the new iBookstore. “One million iPads in 28 days—that’s less than half of the 74 days it took to achieve this milestone with iPhone,” said Steve Jobs, Apple’s CEO. “Demand continues to exceed supply and we’re working hard to get this magical product into the hands of even more customers.” In other words, Apple had a typical early-adopter spike. It will take several more months to see whether the iPad gains traction with mainstream users.
Source: Business Pundit | 3 May 2010 | 8:01 am Greece Got Its $150 Billion Bailout. Meh.By Jacob Goldstein The big bailout for Greece that finally came through this weekend means Greece will have enough money in the short term to pay its existing debts. But it doesn't mean much more than that. Greece is still in deep trouble. Its debt is still projected to skyrocket over the next few years, its economy is still projected to shrink, and its unions are still furious about pending cuts. And the bailout was apparently already baked into broader European markets. The euro fell a bit against the dollar today, and the European stock market also declined. Spreads on Spanish and Portugese debt narrowed "only modestly," Reuters said, suggesting that bond investors didn't take much comfort from the news of the Greek bailout. Portugal had its debt downgraded last week, and may be next in line for a bailout. The situation in Spain is not quite as dire, but it's pretty bad. The unemployment rate just hit 20%, deficits are high and the economy is shrinking. Spain is a much larger economy than Greece or Portugal, and a bailout of Spain (if it came to that) would be much more expensive. As one EU official quoted by the Economist said, "the EU can't afford Spain." Perhaps the most substantive news on this front today comes from the European Central Bank, Europe's equivalent of the Fed. The ECB lends banks money, and requires the banks to post bonds as collateral in return. Typically, those bonds must meet minimum ratings standards. The ECB said today that it will suspend those standards and let banks to use Greek bonds as collateral for loans from the Bank, even if there are more ratings downgrades to Greek debt. That means the ECB could wind up on the hook for losses if Greece defaults. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 May 2010 | 7:59 am Polleit on Greek Debt Crisis, Brzeski on ECB Policy: First WordSource: Bloomberg - All Podcasts | 3 May 2010 | 7:49 am Google Buys Multitouch Company BumptopGoogle has purchased multitouch software company Bumptop. Bumptop’s technology simulates a real-life desk by allowing you to move around, hang, and stack applications and files in 3D. Bumptop is compatible with both PCs and Macs, but I assume Google wants the technology for an upcoming tablet. GigaOm has more: If Google is working on an iPad-style tablet, as many believe that it is, a BumpTop-style interface would be dramatic departure from the typical 2-D app/icon approach, and could provide a significant alternative to the look and feel of Apple’s iPad. Sources…ay Google is looking at the company’s 3-D, multi-touch interface — or elements of it — as a potential addition to a tablet device. Mark McQueen at Wellington Financial also seems to see the potential for this, saying in his blog post: “Given the arm wrestling going on between Apple and Google over who will have the sweetest user experience, Bumptop’s cool desktop and underlying technology are a natural piece of Google’s user interface puzzle as they prepare to take on the current kings of all consumer electronics. The ones down the street in Cupertino.” No terms for the acquisition were provided, but the Wellington Financial blog speculates that the price was in the $35 million to $40-million range. According to a recent profile of the company in the Globe and Mail, the Toronto-based company has raised $1.65 million from GrowthWorks Capital and Extreme Venture Partners, as well as angel investor and former Macintosh designer Andy Hertzfeld. According to Startup North, Canadian entrepreneur and angel investor Austin Hill was also involved in funding the company.
Source: Business Pundit | 3 May 2010 | 7:41 am Clever Wide Angle Lens Ad
Source: Business Pundit | 3 May 2010 | 4:49 am
|
