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Shelby: Bank bill should include mortgage firms (AP)AP - The Senate's top Banking Committee Republican says a pending overhaul of financial regulations is flawed because it does not impose controls on giant government-sponsored mortgage finance companies.Source: Yahoo! News: Business News | 8 May 2010 | 4:14 am Reform bill should include Fannie, Freddie: Shelby (Reuters)
Source: Yahoo! News: Business News | 8 May 2010 | 4:08 am Obama says health care law already helps millions (AP)
Source: Yahoo! News: Business News | 8 May 2010 | 4:06 am Auto Review: 2010 Suzuki SX4 Sportback: Well-meant economyDrive home a Suzuki motorcycle and the neighbors will gather in admiration. Drive home an SX4 and the folks next door will ask “What is that?”
Source: MarketWatch.com - Top Stories | 8 May 2010 | 4:01 am Top-performer nickel loses polish after tough weekNickel's stellar gains have come to a sudden stop on concerns the global manufacturing recovery may be entering a cooler phase, but the same fundamentals that underpinned its rise might also help it rebound, analysts say.
Source: MarketWatch.com - Top Stories | 8 May 2010 | 4:01 am Euro zone agrees emergency steps to contain crisisBRUSSELS (Reuters) - Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.
Source: Reuters: Business News | 8 May 2010 | 3:31 am Sovereign wealth funds see risks up, but Greece uniqueSYDNEY (Reuters) - Sovereign risks have risen due to the turmoil in the euro zone, but the woes Greece faces are not the same as in other European nations and the situation can be resolved, the chair of a meeting of sovereign wealth funds said.
Source: Reuters: Business News | 8 May 2010 | 3:29 am Sovereign wealth funds see risks up, but Greece uniqueSYDNEY (Reuters) - Sovereign risks have risen due to the turmoil in the euro zone, but the woes Greece faces are not the same as in other European nations and the situation can be resolved,Source: RSS feed - channel BNewsBusiness | 8 May 2010 | 3:29 am Sovereign wealth funds see risks up, but Greece unique (Reuters)Reuters - Sovereign risks have risen due to the turmoil in the euro zone, but the woes Greece faces are not the same as in other European nations and the situation can be resolved, the chair of a meeting of sovereign wealth funds said.Source: Yahoo! News: Business News | 8 May 2010 | 3:29 am Al Fayed sells off Harrods storeThe department store Harrods has been sold for a fee of around £1.5bn, the BBC can confirm.Source: BBC News | Business | World Edition | 8 May 2010 | 3:20 am Mohamed al Fayed sells HarrodsMohamed al Fayed sells world famous department store after 25yrs.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 May 2010 | 3:19 am Ex-Interior Sec Walter Hickel dies at 90 (AP)
Source: Yahoo! News: Stock Markets News | 8 May 2010 | 3:14 am Gloom in Greece despite EU loan relief (AFP)
Source: Yahoo! News: Business News | 8 May 2010 | 2:41 am Gloom in Greece despite EU loan reliefRelief in Greece over an imminent EU-IMF loan rescue failed to dispel gloom on Saturday over giant budget cuts which observers say could plunge the recession-hit country into an uncertain...Source: RSS feed - channel BNewsBusiness | 8 May 2010 | 2:39 am Huge dome probes ocean depths to cap US oil leak (AFP)
Source: Yahoo! News: Business News | 8 May 2010 | 1:24 am US probes mystery stock crash as panic spreads (AFP)
Source: Yahoo! News: Stock Markets News | 8 May 2010 | 1:21 am Bubble of methane triggered rig blast (AP)
Source: Yahoo! News: Business News | 8 May 2010 | 1:18 am CKX chief's departure could set off bidding war for 'American Idol' parentThe chief executive of the parent company of "American Idol," the top-rated show on television, resigned on Friday and said he was weighing a bid for the entertainment and licensing firm.Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am AIG returns to profitabilityAmerican International Group Inc., the insurance giant bailed out by the federal government, reported net income of $1.45 billion for the first quarter as its struggling insurance business showed signs of improvement.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am Transportation chief Ray LaHood to meet with Toyota President Akio Toyoda in JapanLaHood says he plans to deliver a stern message that the U.S. will not tolerate violations of safety laws that jeopardize the public.Signaling renewed vigor in the federal government's scrutiny of Toyota Motor Corp., Transportation Secretary Ray LaHood is heading to Japan to meet with company President Akio Toyoda.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am L.A.'s Chinatown tries to draw more nighttime visitorsOnce the hub of Chinese American life, the area northeast of downtown is a virtual ghost town after dark.By the light from a Chinatown bakery, Steve and Isela Gibbs snacked on cake at an outdoor table as the last few of the day's tourists wandered through nearby Central Plaza, under hanging red paper lanterns.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am Stocks' plunge is a troubling mysteryRegulators try to find exactly what triggered Thursday's free fall and prevent another. Investors shrink back.As global stock markets skidded further Friday, federal regulators were still scrambling to unravel the cause of a nearly 1,000-point midday plunge in the Dow Jones index a day earlier — an event that triggered new criticism that Wall Street trading has grown too risky and needs to be reined in.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am Court dismisses Lions Gate's attempted 'poison pill' to block takeoverA court in Canada, where the entertainment company is legally domiciled, blocked an attempt to reinstate a 'poison pill' that would have prevented investor Carl Icahn from acquiring it.Lions Gate Entertainment's plan to poison Carl Icahn's attempted hostile takeover of the Santa Monica film and television studio has been given the death knell by a Canadian court.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am Court dismisses Lions Gate's attempted 'poison pill' to block takeoverA court in Canada, where the entertainment company is legally domiciled, blocked an attempt to reinstate a 'poison pill' that would have prevented investor Carl Icahn from acquiring it. ...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am Wall Street calmer but still fearfulThe Dow falls 139 points in another volatile day, though some see buying opportunities.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am Stocks' plunge is a troubling mysteryRegulators try to find exactly what triggered Thursday's free fall and prevent another. Investors shrink back. ...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am CKX chief's departure could set off bidding war for 'American Idol' parentThe chief executive of the parent company of "American Idol," the top-rated show on television, resigned on Friday and said he was weighing a bid for the entertainment and licensing firm.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am Transportation chief Ray LaHood to meet with Toyota CEO Akio Toyoda in JapanLaHood says he plans to deliver a stern message that the U.S. will not tolerate violations of safety laws that jeopardize the public. ...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am City National acquires failed San Diego bankL.A.-based City National Bank acquires 1st Pacific Bank of California, the second failed financial institution it has taken over in about five months. ...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am Goldman shareholders support Blankfein's chairman-CEO roleMore than 80% of voters at the annual shareholders meeting sink the proposal to split his job in two. Shareholders...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am L.A.'s Chinatown tries to draw more nighttime visitorsOnce the hub of Chinese American life, the area northeast of downtown is a virtual ghost town after dark. By the...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am AIG returns to profitabilityAmerican International Group Inc., the insurance giant bailed out by the federal government, reported net income of $1.45 billion for the first quarter as its struggling insurance business showed signs...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am Goldman shareholders support Blankfein's chairman-CEO roleMore than 80% of voters at the annual shareholders meeting sink the proposal to split his job in two.Shareholders of Goldman Sachs Group Inc. overwhelmingly supported their embattled chairman and chief executive Friday, rejecting calls to split his job in two in the wake of government accusations that the company defrauded some clients.
Source: L.A. Times - Business | 8 May 2010 | 1:00 am Wall Street calmer but still fearfulThe Dow falls 139 points in another volatile day, though some see buying opportunities.Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am Countrywide Financial agrees to pay $600 million to settle New York pension fund lawsuitThe mortgage lender had been accused of making misstatements about its lending practices, artificially inflating the price of its securities before the housing collapse. ...Source: RSS feed - channel BNPaperBusiness | 8 May 2010 | 1:00 am FEATURE-Spill could devastate U.S. Gulf Coast oyster reefs* Gulf home to last, largely intact oyster reef ecosystemSource: RSS feed - channel BNewsBusiness | 7 May 2010 | 11:03 pm General Shopping Brasil - Gross Revenue Increases 16.2%, Adjusted EBITDA Rises 17.5%, With Margin at 70.3%, and Gross Profit Totals R$ 20.3 Million in 1Q10Source: RSS feed - channel BNewsBusiness | 7 May 2010 | 9:30 pm Euro leaders to set up urgent crisis fundEuropean leaders launched plans Saturday to create a new crisis fund aimed at all troubled euro countries, as the Greek debt chaos put the eurozone into a "state of emergency." The 16...Source: RSS feed - channel BNewsBusiness | 7 May 2010 | 9:20 pm Venezuela annual inflation rate hits 30 percent (AP)
Source: Yahoo! News: Business News | 7 May 2010 | 9:19 pm Venezuela annual inflation rate hits 30 percentVenezuela's annual inflation rate has surpassed 30 percent after consumer prices surged in April. The Central Bank and National Statistics Institute on Friday reported a 5.2 percent...Source: RSS feed - channel BNewsBusiness | 7 May 2010 | 9:19 pm Pawlenty, top lawmakers continue budget talksBudget talks continue between top lawmakers and Gov. Tim Pawlenty. The talks went on well into Friday evening after the Democratic-led House soundly rejected the Republican governor's...Source: RSS feed - channel BNewsBusiness | 7 May 2010 | 8:41 pm New regulations likely as U.S. probes big stock diveNEW YORK/WASHINGTON (Reuters) - President Barack Obama said on Friday that regulators would look for ways to prevent a repeat of Thursday's mysterious stock market meltdown, adding to expectations the U.S. government will make new regulations to curb runaway computer trading.
Source: Reuters: Business News | 7 May 2010 | 8:36 pm Jonathan Burton's Life Savings: What you should do about market's selloffThe stock market’s gyrations over the past few days look a lot like the turmoil seen in 2008 and early 2009, and no one wants to suffer that again.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 8:28 pm Stocks slide anew, but it's still not a correction (AP)
Source: Yahoo! News: Business News | 7 May 2010 | 8:22 pm Stocks slide anew, but it's still not a correction (AP)
Source: Yahoo! News: Stock Markets News | 7 May 2010 | 8:22 pm Kan. Senate work on gambling mired in smoking fussAn effort in the Kansas Senate to revive the state's dog- and horse-racing industry became mired Friday night in a contentious debate over banning smoking in state-owned casinos. The...Source: RSS feed - channel BNewsBusiness | 7 May 2010 | 8:17 pm Employment surges in bright sign for recoveryWASHINGTON (Reuters) - Employment grew at the fastest pace in four years in April as businesses ramped up hiring, suggesting the economic recovery was growing less dependent on government support.
Source: Reuters: Business News | 7 May 2010 | 8:07 pm Employment surges in bright sign for recoveryWASHINGTON (Reuters) - Employment grew at the fastest pace in four years in April as businesses ramped up hiring, suggesting the economic recovery was growing less dependent on government...Source: RSS feed - channel BNewsBusiness | 7 May 2010 | 8:07 pm Stocks turn negative for year on Greece woesNEW YORK (Reuters) - Stocks turned negative for the year on Friday on fears of another credit crisis stemming from Greece's souring finances and lingering questions about what triggered theSource: RSS feed - channel BNewsBusiness | 7 May 2010 | 7:40 pm Stocks turn negative for year on Greece woesNEW YORK (Reuters) - Stocks turned negative for the year on Friday on fears of another credit crisis stemming from Greece's souring finances and lingering questions about what triggered the previous session's dramatic plunge.
Source: Reuters: Business News | 7 May 2010 | 7:40 pm Butchers beware: Venezuela cracks down on prices (AP)
Source: Yahoo! News: Business News | 7 May 2010 | 7:28 pm April hiring surge largest in four yearsU.S. employers add 290,000 jobs, the Labor Department says, yet the unemployment rate rises as workers who'd given up return to the job market.U.S. employers added an unexpectedly large 290,000 jobs in April. That's the strongest hiring burst in four years and a welcome signal that companies are becoming more confident that the economy will continue to strengthen.
Source: L.A. Times - Business | 7 May 2010 | 7:20 pm Eurozone approves Greece bail-outEurozone leaders approve an 110bn euro ($145bn; £95bn) loan to Greece to prevent its debt crisis from spreading.Source: BBC News | Business | World Edition | 7 May 2010 | 7:04 pm Blankfein pledges ‘rigorous’ self-examinationLloyd Blankfein, chief executive of Goldman Sachs, made another attempt to repair the bank’s reputation, saying a new board committee will lead a review of the firm’s business practices in the wake of fraud allegationsSource: Financial Times - US homepage | 7 May 2010 | 6:45 pm Small investors spooked by market swingsJack Walsdorf was running work errands on Thursday afternoon when he got his first alert on this BlackBerry that the markets were in a free fall. Then came another, and another.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 6:41 pm Eurozone leaders agree deal to stamp out Greek debt contagionLeaders agree emergency measures to calm markets rattled by debt contagion fears.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 6:08 pm Berkshire's book value rose 5.8% in first quarterThe holding company reports a 5.8% increase in its book value during the first quarter as the insurance-focused conglomerate run by Warren Buffett benefited from a recovery in markets and the economy.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 6:03 pm Argentina denounces British ‘pirates’ after oil discovery in Falklands watersArgentina has threatened to defend its “rights and interests” after the first sizeable discovery of oil in disputed waters off the Falkland Islands, a find that has racheted up tensions with Britain. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Interest rates may rise before the end of the yearThe Bank of England may raise interest rates sooner than expected after the cost of goods leaving factories surged to an 18-month high last month. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Bullying ‘did not apply’ to PwC partnerA former executive of PricewaterhouseCoopers was told that anti-bullying and harassment policies did not apply to him because he was a partner, an Employment Tribunal heard yesterday. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Queen quits and EMI won’t stop them nowThey once wanted to break free — and now they have: the veteran rock band Queen have quit the beleaguered music label EMI for its rival Universal. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Moss Bros goes bespoke — but can it measure up to rivals in Savile Row?For many, it is the place to go to hire togs for that wedding, the day at Ascot or the evening at Glyndebourne — but now Moss Bros is to open a chain of shops selling bespoke suits made in China in an attempt drastically to undercut traditional tailors. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Goldman Sachs boss faces an ambush at the AGMHe once joked that Goldman Sachs was “doing God’s work”, but yesterday Lloyd Blankfein came face-to-face with the Lord’s representatives on Earth. A stream of Christian shareholders held him to account at the bank’s annual meeting in Manhattan, exhorting him to work “for the many, not just the few”. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Pound is hung out to dry as the nation’s indecision takes its tollThe pound, gilts and equities all came under huge selling pressure yesterday as traders — already punch-drunk from Thursday’s violent convulsions on Wall Street — digested the news that Britain had elected a hung Parliament for the first time in 36 years. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Britain faces the perils of prolonged horse tradingIn spite of all the fine words from party leaders about working in the national interest, the smart money is betting on political paralysis in Britain. And the legislative limbo is seen as lasting not days, but months. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Interior Secretary Ken Salazar says oil spill puts survival of BP at stakeAs a high-stakes operation to shut off a blown-out oil well unfolded on the seabed and a 130-mile wide slick menaced the coastline of four US states, a top US official was warning that the survival of BP as a company was under threat. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Galleon founder’s lawyer calls foul on wiretapLawyers for Raj Rajaratnam, the Galleon hedge fund founder at the centre of a $50 million ($£33.8 million) insider trading probe in the US, have moved to suppress wiretap evidence used in the investigation, arguing that the secret recordings were improperly obtained. Source: Latest Business News from Times Online | 7 May 2010 | 6:01 pm Frayed investors eye skittish stocks (Reuters)Reuters - The extreme market volatility of recent days has shaken investors, who still are seeking a clear explanation of what sent U.S. stocks into Thursday's dizzying intraday spiral.Source: Yahoo! News: Stock Markets News | 7 May 2010 | 5:30 pm Frayed investors eye skittish stocksNEW YORK (Reuters) - The extreme market volatility of recent days has shaken investors, who still are seeking a clear explanation of what sent U.S. stocks into Thursday's dizzying intraday spiral.
Source: Reuters: Business News | 7 May 2010 | 5:30 pm Weekend Investor: Build a better portfolio with car-sector stocksGearheads have scoured junkyards since the fenders first came off an old flathead Ford V-8, pulling parts from piles of scrap to piece together their high-performance street rods. Decades later, it’s time to do the same to your stock investments.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 5:11 pm 'Astronomical' rise in rail faresSome train operators are being accused of "astronomical" fare rises, as a result of extending peak-time hours.Source: BBC News | Business | World Edition | 7 May 2010 | 5:02 pm New regulations likely as stock dive probed (Reuters)
Source: Yahoo! News: Stock Markets News | 7 May 2010 | 4:53 pm Buffett's Berkshire has highest profit since 2007NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday reported its largest quarterly profit since 2007, helped by an improving economy, investment and derivative gains, and the takeover of Burlington Northern Santa Fe Corp.
Source: Reuters: Business News | 7 May 2010 | 4:45 pm Pound see-saws on hung parliamentThe pound is volatile after the UK general election proves inconclusive but later shows signs of recovery.Source: BBC News | Business | World Edition | 7 May 2010 | 4:40 pm Goldman chief staying putGoldman Sachs Lloyd Blankfein secured a much-needed victory at the company's annual shareholder meeting Friday -- winning the support of his investors.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 4:37 pm 3 theories on the crashTheories about yesterday's stock market swoon, where within a matter of 20 minutes, the stock market plunged by 1,000 points and then nearly completely recovered, are abounding. Fortune asked Rishi Narang, founder of the hedge fund Telesis Capital and author of Inside the Black Box, to share the theories he's heard and handicap them in terms of likelihood and plausibility.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 4:32 pm Santander's pain in Spain won't hit UK customersSantander, Europe's second largest bank, has been caught in the sovereign debt storm that has swept through Greece and is now threatening the Iberian peninsula.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 4:28 pm Latin American Markets: Brazil down as European fears persist; Mexico upBrazilian stocks fall as worries about deterioration in European sovereign debt persist. Meanwhile, a decline in monthly inflation in Mexico and a report about expansion in the U.S. labor market help Mexican stocks move higher.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 4:25 pm Countrywide in $600m settlementCountrywide Financial, the mortgage lender acquired by Bank of America, agrees to pay former investors $600m to settle a lawsuit.Source: BBC News | Business | World Edition | 7 May 2010 | 4:09 pm Washington Calendar: Washington events for April 10-14A guide to the key data and events in Washington in the coming week.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 4:08 pm General Election 2010: 1974 doesn't look any better second time aroundLast time there was a hung parliament, Britain was drowning in debt, the global economy was rocky and the workers were revolting. Sound familiar?Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 4:04 pm Stocks are volatile again, but swings are milder (AP)AP - BAD DAY, COULD HAVE BEEN WORSE: Stocks were volatile for the second straight day, but the swings were nowhere near as severe as they were during Thursday's trading, when the Dow Jones industrials fell as much as 998.50.Source: Yahoo! News: Stock Markets News | 7 May 2010 | 4:04 pm Stocks down on day, week, yearStocks slumped Friday, with the three major indexes ending in negative territory for the year as investors mulled the Greek debt crisis and the aftermath of one of the most gut-churning days in Wall Street history.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 4:03 pm G7 watching Europe, market volatility with concernWASHINGTON/TORONTO (Reuters) - The Group of Seven rich countries is concerned about Greece's debt problems, a Canadian official said on Friday, and hinted that there may be other countries that will also need help.
Source: Reuters: Business News | 7 May 2010 | 4:03 pm Obama: Authorities investigating wild market swing (AP)
Source: Yahoo! News: Stock Markets News | 7 May 2010 | 4:03 pm Chinese Slowdown Tarnishes Metals (Global Recovery Watch)Concern over Chinese demand is weighing on prices -- for now.
Source: SmartMoney.com | 7 May 2010 | 4:00 pm The rise and fall, and rise and fall of NorgateThe first time former Federated Farmers president Charlie Pedersen met Craig Norgate he tried hard not to like him - and failed.It was 1996 and Norgate, then the chief executive of Kiwi Co-operative Dairies, had set his sights...Source: nzherald.co.nz - Business | 7 May 2010 | 4:00 pm Regulators search for clues to market plungeNEW YORK - Regulators and Wall Street officials went through millions of trades one by one on Friday and cancelled thousands as they sought to explain a record plunge in the stock market, undo damage and keep it from happening again.It...Source: nzherald.co.nz - Business | 7 May 2010 | 4:00 pm Brian Gaynor : Collapse of partnership a loss for allThe Rural Portfolio Investments receivership is a sad end to the existing 14-year partnership between Craig Norgate and the McConnon family.The collapse is a mirror image of many of the failed structures of the 1980s, which were...Source: nzherald.co.nz - Business | 7 May 2010 | 4:00 pm 5 Trading Errors That Shook the Markets (On the Street)In the electronic trading era, small errors have big consequences.
Source: SmartMoney.com | 7 May 2010 | 3:59 pm Stocks and ETFs Stagger Again (Daily ETF Wrap-Up)Major indexes close out a punishing week as correction takes hold.
Source: SmartMoney.com | 7 May 2010 | 3:56 pm The broken 296: One CEO's storyAs market giants crashed, so did small companies like Opnet -- whose CEO followed along on his iPhone as his company's stock went into freefall.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 3:56 pm Europe tries to douse debt crisisBRUSSELS - Amid ruthless financial turmoil, German Chancellor Angela Merkel urged European leaders to sharpen the core rules underpinning the euro to avoid debt crises like the ferocious one which has pushed Greece to the brink of...Source: nzherald.co.nz - Business | 7 May 2010 | 3:56 pm Canadian Markets: Canada stocks drawn down by materials, industrialsLosses in industrial and materials stocks overshadow positive jobs data.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 3:55 pm Gulf of Mexico oil spill: BP abandons robots tackling gushing oil wellBP hopes that a giant dome lowered over its leaking Gulf of Mexico well could stem most of the flow by Monday.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 3:53 pm Personal Finance Daily: Despite payroll gains, job seekers face tough roadThe good news for job seekers: Businesses are starting to hire again. The bad news, as everyone knows, is that many millions of unemployed and underemployed people are vying for those jobs. More than 15 million people are out of work right now.
Source: MarketWatch.com - Top Stories | 7 May 2010 | 3:52 pm Stock shock roils Congress amid Wall St debate (Reuters)Reuters - Shock waves from the U.S. stock market plunge rolled through Washington on Friday and underscored that Wall Street reforms under debate in the Senate do little to address complex technology blamed for the fall.Source: Yahoo! News: Stock Markets News | 7 May 2010 | 3:50 pm US stocks falter after wild dayNEW YORK - Stocks had another volatile day on Friday, swinging widely before closing sharply lower.The Dow Jones industrials closed with a loss of about 140 points, having been down almost 280 earlier. That followed a brief plunge...Source: nzherald.co.nz - Business | 7 May 2010 | 3:44 pm BofA, Goldman to pay $1 billion in UK bank bonus taxCHARLOTTE, North Carolina (Reuters) - A British tax on bank executives' bonuses will cost two of the biggest U.S. banks a combined $1 billion.
Source: Reuters: Business News | 7 May 2010 | 3:36 pm Retirement Roundup: Coping With New RealitiesAdvice on navigating a landscape altered by recession and reform.
Source: SmartMoney.com | 7 May 2010 | 3:31 pm 296 'funked up' stocks -- trades canceledAfter one of the most wild days on Wall Street, Nasdaq canceled trades of 296 stocks whose prices fluctuated the most.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 3:29 pm General Election 2010: Can the Tories and Lib Dems find common ground?Concessions on economic policy, more than any other, will be painful for both parties.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 3:27 pm Insider Trading, Sprint, China’s Consumer Confidence: AudioSource: Bloomberg - All Podcasts | 7 May 2010 | 3:26 pm Stocks turn negative for year on Greece woes (Reuters)
Source: Yahoo! News: Stock Markets News | 7 May 2010 | 3:25 pm Gold nears all-time highGold neared its all-time high on Friday amid choppy markets and ongoing concerns about contagion in the euro zone.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 3:25 pm Germany: Merkel’s momentGermany: With the eurozone facing the threat of contagion, the chancellor is under pressure to protect the integration her predecessors championed – but domestic opposition raises questions about her chancesSource: Financial Times - US homepage | 7 May 2010 | 3:23 pm Dueling Predictions for the Market's Future (Broker Talk)Weighing recent turmoil, two brokers offer opposing outlooks.
Source: SmartMoney.com | 7 May 2010 | 3:18 pm Write-Offs: 05.07.10
$$$ Congress wants review of market plunge [AP] $$$ Finra’s Ketchum: ‘Shock absorbers’ are a must [Investment News] $$$ Blankfein On The SEC [CNBC] 
Source: Dealbreaker | 7 May 2010 | 3:15 pm Goldman annual meeting brings few fraud queriesNEW YORK (Reuters) - Goldman Sachs Group Inc held its longest-ever annual investor meeting on Friday, but Chief Executive Lloyd Blankfein faced few questions about civil fraud charges against the company.
Source: Reuters: Business News | 7 May 2010 | 3:09 pm The Friday Podcast: When BB+ Is A Bad Grade Life after a downgrade. (AP Photo/Nikos Giakoumidis) On today's Planet Money: First, an NYU finance professor talks about yesterday's wild market swings. Turns out, a sort of "circuit breaker" that's supposed to settle the market may have backfired. Then, we go behind the scenes at Standard & Poor's to answer a question that's been on our mind lately: How do you rate a country? Also answered in the podcast: Do agencies think twice before lowering a country's rating to junk? Download the podcast, or subscribe. Music: Frightened Rabbit's "Nothing Like You." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 May 2010 | 3:06 pm Regulators look into market plunge, weigh changes (AP)AP - The federal regulators that oversee financial markets say they are investigating the causes of the mass sell-off Thursday that pushed the Dow Jones Industrial average down hundreds of points. They are identifying one possible cause: Conflicting trading rules for different markets.Source: Yahoo! News: Stock Markets News | 7 May 2010 | 3:02 pm Battered Stock Market Endures Harsh Week (Market Update)U.S. markets hit with correction over European debt fears. Jobs data quietly improve.
Source: SmartMoney.com | 7 May 2010 | 2:56 pm Global shares fall on Greece debtShares in the US and Europe fall amid investor fears over Greek debt, as sterling slumps during the British general election count.Source: BBC News | Business | World Edition | 7 May 2010 | 2:47 pm Reliance victory could deter foreign investorsWhile Mukesh Ambani has plenty of reason to celebrate, the case shows the complexity of India’s business environment and raises questions of policymaking in its oil and gas sectorSource: Financial Times - US homepage | 7 May 2010 | 2:47 pm As the oil creeps closer ...With the Gulf oil slick spreading, these 5 business owners are among the thousands fearing for their livelihood.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 2:47 pm Weak Market, Strong Stocks Again (AOL, ABCO, PPO, KO, KFT, MO, RAI)This morning we ran a list of stocks which actually closed up 2% or more yesterday during the sell-off waves. We looked through the list of about 20 stocks, and of those listed only three closed up today: AOL Inc. (NYSE: AOL) closed up +2.6% Thursday and closed up 0.37% at $21.76 today after a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 2:45 pm Consumer borrowing posts unexpected rise in MarchWASHINGTON — U.S. consumer borrowing posted an unexpected increase in March, only the second gain in the last 14 months. It could be a sign that American households are feeling more confident about boosting spending, a key development needed to support a sustained economic recovery.
Source: L.A. Times - Business | 7 May 2010 | 2:25 pm General Election 2010: Hung parliament sparks market chaosThe pound plunged up to 4½ cents on the dollar as the prospect of coalition Government prompted investors to ditch UK assets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 2:19 pm Merkel eyes quick eurozone reformGerman Chancellor Angela Merkel calls for an "acceleration" of efforts to regulate the eurozone finance sector.Source: BBC News | Business | World Edition | 7 May 2010 | 2:17 pm European banks in bonds plea to ECBEurope’s banks made a desperate appeal for the European Central Bank to buy the bonds of crisis-hit eurozone members, as a second day of turmoil in markets battered share prices around the globeSource: Financial Times - US homepage | 7 May 2010 | 2:03 pm Serepisos pays back ratesCash-strapped Wellington property tycoon Terry Serepisos has paid back the bulk of his unpaid rates, his company says.The star of TV's The Apprentice show and owner of the Wellington Phoenix football franchise was earlier reported...Source: nzherald.co.nz - Business | 7 May 2010 | 2:00 pm General Election 2010: the markets are in no mood for horse-tradingWhether it was the pall cast by the Greek sovereign debt crisis, or merely cold, hard reality biting, Friday's hung parliament could hardly have gone down any worse.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 2:00 pm General Election 2010: Put economy first, business warns leadersBritish businesses have appealed to all the parties for swift and decisive action to end the political uncertainty amid continued confusion in the markets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 1:50 pm Get ready for OnStar everywhereGeneral Motors will launch a new, more powerful version of its famed OnStar mobile service this summer. The move could take OnStar beyond the car and maybe even beyond GM itself, a GM executive CNNMoney.com.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 1:45 pm Bookies relish prospect of second electionTwelve years ago two students at Oxford Brookes University asked William Hill to give them odds on them becoming Prime Minister within 40 years. The bookmaker offered them 10,000-1. Each man placed a £50 bet.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 May 2010 | 1:34 pm Presented By:Source: Dealbreaker | 7 May 2010 | 1:33 pm Call the Close . . .
Source: Dealbreaker | 7 May 2010 | 1:33 pm Knock-on effect of NYSE slowdownThe New York Stock Exchange came under fire from its rivals on Friday for slowing trading during the tumultuous trading session on Thursday afternoon, during which $1,000bn was briefly wiped off share valuesSource: Financial Times - US homepage | 7 May 2010 | 1:23 pm Lisa And Phil Falcone Have A Pig Who Can Play The Piano
 Animal lover
Lisa Marie Falcone: Uptown Girl [W via Heidi Moore]
Source: Dealbreaker | 7 May 2010 | 1:11 pm Stocks Slide -- It's About Time (Ahead of the Curve)Luskin: The market's craziness doesn't change my suggestion -- buy gold.
Source: SmartMoney.com | 7 May 2010 | 1:11 pm Former Einhorn Target Settles Fraud Charges
Greenlight, and co-plaintiff James Brickman, will receive $4.3 million as part of the settlement. The feds charged Ciena with defrauding the Small Business Administration when they sought payments on federally-backed loans they made and serviced. The loans, which eventually defaulted, violated SBA rules and underwriting standards. From Reuters:
Source: Dealbreaker | 7 May 2010 | 1:03 pm Next Week’s Can’t Miss Earnings (DISH, LDK, MBI, PCLN, ABK, ERTS, DIS, M, CSCO, DRYS, WFMI, JWN, NVDA)It may have felt like earnings are over and maybe that now earnings don’t matter but if you look through the winners in a down market it is often those which are blowing out earnings. Next week is another big earnings week and some of the big companies reporting are Dish Network Corp. (NASDAQ; DISH), [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 12:49 pm Did A Stock Market Circut-Breaker Backfire?By Jacob Goldstein Almost 24 hours have passed since the stock market had its momentary freakout, and it's still unclear what happened to trigger the sell-off. But the decline may have been accelerated by a New York Stock Exchange system that temporarily stops electronic trading in stocks that have fallen sharply. In interviews this morning on CNBC, the heads of the New York Stock Exchange and the NASDAQ both talked about the system, which is based on something called the Liquidity Replenishment Point, or LRP. The system kicked in yesterday for stocks including Procter & Gamble and 3M, both of which are part of the Dow. It halts electronic trading for roughly a minute, and allows human buyers and sellers to consider the situation. But stocks that are traded on the NYSE are also traded on other, smaller stock exchanges that are purely electronic. And -- crucially -- the system does not halt trading on those other exchanges. So here's what may have happened yesterday afternoon: The LRP was triggered for P&G and 3M, among other stocks. This stopped electronic trading in those stocks, very briefly, on the NYSE. During this brief pause, electronic trade orders were sent to other, smaller exchanges. Those other exchanges may have been swamped by the volume of orders, Bloomberg and Felix Salmon note. That's when prices in P&G and 3M briefly fell through the floor. The declines in those two stocks alone accounted for a 400 point drop in the Dow, the head of the NYSE said. When the human traders at the NYSE stepped in a few seconds later, the prices shot back up again. What's the upshot? The heads of both the NYSE and the NASDAQ both suggest that it may not make sense to stop electronic trading of a stock on the NYSE but allow it to continue on other exchanges. So the outcome of yesterday's mess may be a marketwide halt on trading for individual stocks under certain circumstances. Here's the NYSE chief on CNBC:
Here's the NASDAQ guy:
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 May 2010 | 12:46 pm Small talk: Apple site, pork test, womenMarketplace's Brendan Newnam and Rico Gagliano chat with fellow staffers Betsy Streisand, Dalasie Michaelis, and Stacey Vanek-Smith about a dating site for Apple lovers, a test for pork, and how beautiful women can raise your stress level.Source: Marketplace | 7 May 2010 | 12:44 pm What's next for U.K. after election?After the U.K.'s general election resulted in a hung parliament, its two big parties are trying to put something together with the third-place Liberal Democrats. European correspondent Stephen Beard talks the details with Kai Ryssdal.Source: Marketplace | 7 May 2010 | 12:44 pm Mama works hard, so let her sleep!The clock is ticking -- Have you bought your mom a Mother's Day gift? Tanya Ott has some advice: Forget the candy and flowers and give your mom some extra hours of sleep.Source: Marketplace | 7 May 2010 | 12:43 pm Weekly Wrap: Analyzing the Dow's dropReuters blogger Felix Salmon and The Big Money's Heidi Moore talk with Kai Ryssdal about what happened when the Dow plunged this week, and whether the fall will help with financial reform.Source: Marketplace | 7 May 2010 | 12:43 pm McDonald's to use location-based mediaLocation-based applications are where it's at today -- software for your smartphone that allows users to share where they are. The business opportunities have not gone unnoticed. Jeff Tyler explains.Source: Marketplace | 7 May 2010 | 12:43 pm No work for some despite jobs reportThere were 290,000 jobs created in April, but the unemployment rate went up two ticks to 9.9%. That's because more people entered the labor force -- nearly a million more unemployed workers hunting for jobs that are still hard to come by. Mitchell Hartman reports.Source: Marketplace | 7 May 2010 | 12:43 pm Ripple effects of Europe's credit crunchInvestors are looking at the debt problems in Europe and the effect they're having on the credit markets there. A number of indicators point to a tightening of credit at European banks. Jeremy Hobson reports.Source: Marketplace | 7 May 2010 | 12:42 pm Who's to blame for the big Dow drop?In the rehashing of what happened on the stock market yesterday, the fight has largely come down to computers versus people. Some are blaming so-called high-frequency trading and others take the fat-finger theory that a trader typed in too many zeroes in a sell order. Amy Scott reports.Source: Marketplace | 7 May 2010 | 12:42 pm How to Keep Your Grad From Moving Back HomeDigital-age job tips for parents of the class of 2010.
Source: SmartMoney.com | 7 May 2010 | 12:37 pm Gold Miners’ Reports Mixed as Gold Prices Remain Volatile (GDX, GLD, IAU, IAG, GFI, AU)Gold opened above $1,200.00 per ounce this morning before dropping below that magic number again as the day progressed. SPDR Gold Shares ETF (NYSE:GLD) is pretty much flat, opening at $118.49 and now trading at $118.38. The story is pretty much identical for the iShares COMEX Gold Trust ETF (NYSE:IAU). The Market Vectors Gold Miners [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 12:30 pm Nokia launches patent suit over iPadThe burgeoning legal challenges to Apple over its rapid advances in mobile computing mounted on Friday when Finland’s Nokia launched a patent infringement suit over the iPad.Source: Financial Times - US homepage | 7 May 2010 | 12:30 pm Using a 401(k) loan to pay debtQuestion: Should I borrow from my 401(k) to pay off debt? -- Verlyn Regehr, Denver, ColoradoSource: Business and financial news - CNNMoney.com | 7 May 2010 | 12:24 pm US watchdog to probe share dropThe US financial watchdog says it will look into stock market activity which saw the Dow Jones share index plummet 9%.Source: BBC News | Business | World Edition | 7 May 2010 | 12:22 pm Wrangling begins after tight UK electionPolitical leaders are under pressure to strike a deal quickly, with the incoming government facing an immediate test of its resolve over the need to make sharp cuts to a yawning budget deficitSource: Financial Times - US homepage | 7 May 2010 | 12:11 pm ECB Can’t Buy Sovereign BondsAfter ECB President Trichet declined to get his agency involved in the liquidity crisis among the Eurozone region, fixed income of sovereigns in the area collapsed. Economists faulted Trichet and said that if he were to reverse himself, the severity of the sell-off and the resulting high costs of borrowing for Spain and Portugal would improve. Trichet, however, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 11:59 am Investing in gadgets vs. Apple stockWhat if, instead, of buying an iPad, the latest iPhone, or other Apple gadgets, you used that same money to buy two, three shares of Apple stock? Kyle Conroy has the story.Source: Marketplace Money | 7 May 2010 | 11:59 am Things our loved ones leave behindLisa Tracey, author of the new book ""The Objects of Our Affection," talks with Tess Vigeland about the stories we invest in things left behind.Source: Marketplace Money | 7 May 2010 | 11:59 am How much does it cost to live to 100?A new study says most babies born in developed countries since 2000 will live to see 100, but how much does living longer cost? Sally Herships finds out.Source: Marketplace Money | 7 May 2010 | 11:59 am Taking over your parents' financesWhat happens when children are faced with taking over the finances of aging parents? Ben Calhoun reports.Source: Marketplace Money | 7 May 2010 | 11:59 am Appealing your financial aid packagePam Fowler, director of financial aid at the University of Michigan, talks with Tess Vigeland about why and how to appeal a college financial aid package.Source: Marketplace Money | 7 May 2010 | 11:58 am Getting PersonalTess Vigeland and economics editor Chris Farrell take your questions on personal finance, including one about whether it's time to open a hot dog stand, how to deal with financial aid frustration, and how to get off a bank's radar once they've pegged you as a cash cow.Source: Marketplace Money | 7 May 2010 | 11:58 am Why are consumers spending again?Economist Joel Naroff talks with Tess Vigeland about why consumers are spending again, and the lessons culled from the recession.Source: Marketplace Money | 7 May 2010 | 11:58 am How long should benefits last?Heather Boushey of the Center for American Progress, and James Sherk, an economist at the Heritage Foundation, talk with Tess Vigeland about the debate over how long to extend unemployment benefits.Source: Marketplace Money | 7 May 2010 | 11:57 am Running out of unemployment benefitsShawnette Daniel talks with Tess Vigeland about her unemployment benefits, which are almost running out.Source: Marketplace Money | 7 May 2010 | 11:57 am This Week’s LinksCartoonist Henry Payne’s blog is a fun read. Inside the mind of Boy Genius, whose blog sold for millions. Will Hutton wrote this essay on the US income gap in 2002. Today, it’s as true as ever. Growthology has tallied results for this quarter’s survey of economics bloggers. Read this along with anything you hear from government officials or the media. (Great job, Growthology!) FDIC chief Sheila Bair says small banks are the “lion’s share” of small business loans, and she “hopes” large bank lending will pick up.
Source: Business Pundit | 7 May 2010 | 11:50 am Why the trading robots must dieThe exact causes of Thursday's stock market short-circuit remain unclear, but the lesson is unmistakable. The regulators and the major exchanges have drifted from their original duty: to run a market that gives small companies a way to raise capital and mom-and-pop stock buyers a way to invest for the future on fair terms.Source: Business and financial news - CNNMoney.com | 7 May 2010 | 11:36 am Raj Rajaratnam Launches Web Site, Says Wiretaps Are Illegal
(Bonus: Check out the glamour shots of Raj) In a 75-page brief, lawyers for Raj laid out their argument that FBI Special Agent B.J. Kang and the U.S. Attorney’s office in the Southern District of Manhattan intentionally misled the court when they sought authorization to secretly listen in on Raj’s cell phone. Among several examples, the lawyers argue Rajaratnam only discussed publicly-available information on phone calls with Roomy Khan, a confidential witness in the case, as opposed to any material insider info. Moreover, Ms. Khan, they argue, is not even close to being a credible witness because she lied repeatedly in 1999 about passing inside info to the Galleon founder and engaged in numerous illegal acts, including obstruction of justice, both before and while she was cooperating with the government’s investigation. Agent Kang and the government failed to disclose the previous investigation of Roomy Khan and her repeated illegal acts, Raj contends. They also never told the judge who signed the wiretap authorizations about Raj’s cooperation in an SEC and FBI insider trading investigation that began in 2001. Raj’s lawyers also argue that Congress has not authorized wiretaps for insider trading cases and, in seeking the authorization, the government falsely relied on wire fraud and money laundering charges, which they had no basis for. The government has until the end of the month to file its answer to the Raj’s motion and a hearing on the matter is scheduled for mid-June. Most legal experts agree the wiretap evidence is critical to the government’s case against Raj and others involved in the alleged wide-ranging insider-trading ring. Also, on Raj’s fancy new web site is a section called “media inaccuracies,” which includes n odd letter from Raj’s new PR advisor to Mike Siconolfi, an editor at the Wall Street Journal. While there are no claims of inaccuracies in the letter, dated April 26, Raj and his counsel seem to be complaining about the Journal’s reliance on anonymous sources for their articles. Raj presumes the Journal is receiving all of its information from government leaks and their inherent bias should be disclosed.
Source: Dealbreaker | 7 May 2010 | 11:33 am SRS Labs Raised to `Buy,' Ormat Cut to `Sell': AudioSource: Bloomberg - All Podcasts | 7 May 2010 | 11:21 am Euro Gold Prices Rise as Currency Falls: AudioSource: Bloomberg - All Podcasts | 7 May 2010 | 11:01 am iPad global launch date confirmedApple announces that its much hyped tablet computer, the iPad, will go on sale in nine more countries on the 28 May.Source: BBC News | Business | World Edition | 7 May 2010 | 10:56 am King, Vina, Shepherdson: Bloomberg On the EconomySource: Bloomberg - All Podcasts | 7 May 2010 | 10:55 am Farrell, Mann, Coy, Gross, Bovino, Wolf: Bloomberg SurveillanceSource: Bloomberg - All Podcasts | 7 May 2010 | 10:54 am Lloyd Blankfein Isn’t Going Anywhere
Source: Dealbreaker | 7 May 2010 | 10:48 am Random NYU Stern Students Have Lloyd Blankfein’s Back
Source: Dealbreaker | 7 May 2010 | 10:35 am LNG Still Has a Place in US Energy Supply (LNG, CQP, TOT, CVX, GE, COP)The US pure-play liquefied natural gas (LNG) companies, Cheniere Energy, Inc. (AMEX:LNG) and Cheniere Energy Partners LP (AMEX:CQP) reported earnings this morning, and one is headed up and the other is headed down. This may have some loose ties for Total SA (NYSE:TOT) and Chevron Corp. (NYSE:CVX), as well as General Electric Co. (NYSE:GE) and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 10:27 am Goldman to review its standardsGoldman Sachs chief Lloyd Blankfein says that the bank is creating a business standards committee.Source: BBC News | Business | World Edition | 7 May 2010 | 10:20 am Awards for DatacomDatacom edged out BankLink, Compac Sorting Equipment and Orion Health to win company of the year in the 2010 Hi Tech Awards. Nearly 600 members of the technology industry gathered at Auckland's Langham Hotel last night for the awards...Source: nzherald.co.nz - Business | 7 May 2010 | 10:20 am 'Welcome To Greece! Gets Better Every Hour!'Here's a dispatch from Planet Money's Chana Joffe-Walt, who just arrived in Greece. My first moment in Athens was someone yelling in English, "Americans, step right up! Best day of your life! Welcome to Greece! Gets better every hour!" This was the guy selling euros at the currency-exchange kiosk at the airport. A dollar buys more euros today than at any time in the past year. Him to me: "What an exciting time to be an American!" Me to him: "You think so?" Him: "Of course! Best in a long time. Yes, yes, yes! Bad for us but so good for you. ... Until it's bad for you, too. And then let me tell you, that's not fun!" » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 7 May 2010 | 10:15 am Europe Moves Ahead with Tough PE/Hedge Fund Regulation
The moves come as the EU is also attempting to prevent European investors from placing their cash with hedge funds and others located in offshore tax havens. The new regs, which go into effect in 2012, still need to be approved by individual EU countries and are facing criticism from Tim Geithner, who believes they unfairly penalize U.S.-based funds. Among the most onerous of the regulations is one that will restrict private equity firms from extracting dividends from their portfolio companies within the first four years of ownership. (Remember the German government famously called PE firms “locusts” during the takeover boom.) The new regs also seek to restrict so-called “golden handshakes” where corporate executives are promised giant severance payments upon a change of control or restructuring. The arrangements have been criticized for some time as incentives for CEO’s to sellout too cheaply. Hedge funds will also be required to provide the government with details about their trading positions, which could then be subject to limits should regulators deem the trades damaging to the economy. The Brits are fighting the measures, however, so we’ll see where they end up. From Reuters:
Source: Dealbreaker | 7 May 2010 | 10:14 am Presented By:Source: Dealbreaker | 7 May 2010 | 10:14 am Prepaid Phones: The Offers Pile Up (Deal of the Day)Carriers offer more options, but savings may not add up.
Source: SmartMoney.com | 7 May 2010 | 10:06 am Probe into collapse of rugby star's companyThe Securities Commission has appointed an inspector to probe the collapse of the country's second-largest finance company.Corporate forensic examinations have started at Strategic Finance - the company run for years by former...Source: nzherald.co.nz - Business | 7 May 2010 | 10:00 am Telecom not prepared for XT - reportDespite the marketing hype Telecom's XT network was not ready to handle the large traffic volumes when it went live, says a review by an international consultancy group.A nine-page report by UK-based Analysys Mason details the...Source: nzherald.co.nz - Business | 7 May 2010 | 10:00 am Airbus superjumbo 'a $25b write-off'Five years after its first test flight, the Airbus A380 superjumbo remains more than 200 units short of making the programme profitable.Only one new airline customer has signed up for the 525-seat jet since commercial operations...Source: nzherald.co.nz - Business | 7 May 2010 | 10:00 am Time For Defensive Stocks? (PEP, KO, BUD, TAP, KFT, CAG, CPB, HRL, MCD, MO, VGR, RAI, PG, CL, MRK, JNJ)There are three things investors traditionally want after the huge gains have been made in markets when they still want to hold stocks. They want stocks that have dividends and may want ‘value stocks’ compared to peers or the market. But the largest safety net of where to hide almost boils down to Defensive Stocks. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 9:47 am Important info on Goldman’s clientsFor the past three weeks, the debate on Wall Street has been all about information and rumours and how to handle themSource: Financial Times - US homepage | 7 May 2010 | 9:13 am 25 Inspirational Mother’s Day QuotesNeed some sayings to honor your mom this Mother’s Day? You’re sure to find something in the 25 inspirational Mother’s Day quotes below: 1. A mother is not a person to lean on, but a person to make leaning unnecessary. –Dorothy Canfield Fisher 2. Mothers hold their children’s hands for a short while, but their hearts forever. –Unknown 3. Men are what their mothers made them. –Ralph Waldo Emerson 4. The heart of a mother is a deep abyss at the bottom of which you will always find forgiveness. –Honore de Balzac 5. Making a decision to have a child–it’s momentous. It is to decide forever to have your heart go walking around outside your body. –Elizabeth Stone 6. A mother is a person who, seeing there are only four pieces of pie for five people, promptly announces she never did care for pie. –Tenneva Jordan 7. All women become like their mothers. That is their tragedy. No man does. That’s his. –Oscar Wilde 8. All mothers are working mothers. –Unknown 9. It kills you to see them grow up. But I guess it would kill you quicker if they didn’t. –Barbara Kingsolver 10. Being a full-time mother is one of the highest salaried jobs… since the payment is pure love. –Mildred B. Vermont 11. When you are a mother, you are never really alone in your thoughts. A mother always has to think twice, once for herself and once for her child. –Sophia Loren 12. I regard no man as poor who has a godly mother. –Abraham Lincoln 13. …the hand that rocks the cradle – Is the hand that rules the world. –William Ross Wallace 14. An ounce of mother is worth a ton of priest. –Spanish Proverb 15. A suburban mother’s role is to deliver children obstetrically once, and by car forever after. — Peter de Vries 16. A man loves his sweetheart the most, his wife the best, but his mother the longest. — Irish Proverb Whatever else is unsure in this stinking dunghill of a world a mother’s love is not. — James Joyce 17. To a child’s ear, ‘mother’ is magic in any language. –Arlene Benedict 18. To describe my mother would be to write about a hurricane in its perfect power. –Maya Angelou 19. No matter how old a mother is, she watches her middle-aged children for signs of improvement. — Florida Scott-Maxwell 20. Sweater, n.: garment worn by child when its mother is feeling chilly. –Ambrose Bierce 21. A man’s work is from sun to sun, but a mother’s work is never done. –Author Unknown 22. You don’t really understand human nature unless you know why a child on a merry-go-round will wave at his parents every time around – and why his parents will always wave back. –William D. Tammeus 23. Children are a great comfort in your old age – and they help you reach it faster, too. –Lionel Kauffman 24. It takes a woman twenty years to make a man of her son, and another woman twenty minutes 25. The most remarkable thing about my mother is that for thirty years she served the family nothing but leftovers. The original meal has never been found. –Calvin Trillin
Source: Business Pundit | 7 May 2010 | 9:00 am Romaine Lettuce Recalled for E.Coli
If you live in the South, the Midwest, or on the East Coast, watch out for Romaine lettuce: It’s been recalled. Freshway, which provided the lettuce, issued the recall. The lettuce has made 19 people in New York, Ohio, and Michigan sick; 12 of those people were hospitalized. The Christian Science Monitor has the story: A lettuce recall is causing wholesalers, restaurants, delis, and grocery stores in 23 states to pull romaine products off their shelves. While these companies are expected to pull most of the suspect lettuce before it reaches consumers, consumers should watch out for so-called “grab and go” salads containing romaine lettuce sold at in-store salad bars and delis at Kroger, Giant Eagle, Ingles Markets, and Marsh stores, the Food and Drug Administration (FDA) warns. The romaine lettuce comes from Freshway Foods and is sold under the Freshway and Imperial Sysco brands in Alabama, Connecticut, District of Columbia, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, West Virginia, and Wisconsin. They have a “use by” date of May 12 or earlier. Consumers who have such salads from Freshway should throw them away, the company says. Consumers with questions can call the company at 888-361-7106 on weekdays (8 a.m. to 5 p.m. EDT) or visit its website for updates (www.freshwayfoods.com). This isn’t the first time bagged lettuce has made people sick. In separate instances in 2006, Dole bagged salads and spinach were both found to contain E.Coli. Although that was four years ago, nobody has figured out how E.Coli gets into lettuce. Experts theorize that it could have to do with the way lettuce is cut, animal waste in crop water, and bird droppings on crops. But nobody knows for sure. Here’s hoping they find out this time around.
Source: Business Pundit | 7 May 2010 | 8:59 am “Birth/Death” Numbers Show Unemployment Is Not Improving As AssumedFactor in the birth/death numbers and the count on people who were “unattached” to the work force who became attached last month and real job growth was less than 50,000. The government headline made the improvements in the jobless number look relatively good: Nonfarm payroll employment rose by 290,000 in April, the unemployment rate edged [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 8:56 am Gartman on U.K. Elections, Stamenkovic on U.S. Jobs: First WordSource: Bloomberg - All Podcasts | 7 May 2010 | 8:32 am Testing Rig Count Trends After the Gulf Oil Spill (BHI, OIH, USO, BP, RDS-A)The rig count from Baker Huges Inc. (NYSE:BHI) is out for April and the recent trends continue. The US count is up, the Canadian count is down, and the international rig count is flat. So far today, the Oil Services HOLDRs (NYSE: OIH) and the United States Oil (NYSE: USO) ETFs are off 1%-2%, likely [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 8:31 am If The World Boycotts Greece…If you were witness to the perfect storm that hit the U.S. financial markets yesterday, there are many places where you can point a finger. But the issue that is still the most troubling is Greece and the other PIIGS in the frying pan. Greece is turning out to be no better than many sub-Saharan [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 8:26 am Fresh jobs boost for US economyUS employers in a wide range of sectors added 290,000 new workers in April, beating economists’ expectations by a wide margin and bolstering hopes that the economic recovery is gathering steamSource: Financial Times - US homepage | 7 May 2010 | 8:23 am Why More Jobs = Rising UnemploymentBy Jacob Goldstein The two headline numbers in today's April jobs report seem to point in opposite directions. The number of jobs in America rose by 290,000: Sounds good! The nation's unemployment rate rose to 9.9 percent: Sounds bad! In fact, this weird juxtaposition of trends is predictable, and may well continue for several months. It's the latest sign that that the economy is improving, but the situation is still pretty bad. The unemployment rate measures the number of of people who are looking for work but can't find it -- not the total number of people who are out of work. So as the economy starts to improve, and more companies start hiring, people who had previously given up on looking for work start trying to find a job again, and the unemployment rate rises. The economy lost some 8 million jobs over the past few years, which suggests that there's a big pool of potential workers who will re-enter the labor force as things improve. The Fed expects the unemployment rate to stay above 9 percent for the rest of the year. Still, numbers in today's jobs report are promising. More than 200,000 jobs were created in the private sector during April. The government also made upward revisions to its estimates of job creation in Februay and March. Since December, more than half a million new jobs have been created, mostly in the private sector. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 May 2010 | 8:09 am Decoding the Drop: Why Did it Happen? (Market Update)WHAT'S HAPPENING NOW: Market today depends on Germany and clarity on yesterday's rout.
Source: SmartMoney.com | 7 May 2010 | 7:49 am This Week’s Weird Jobs
1. MD: 100$ for two brownies and 1 pt. ice cream I am snowed in. The long driveway is only partially plowed. I have a crisp 100$ bill. I will gladly give it to the first person who can hand deliver Serious inquiries only. Must be delivered by 9pm this evening. * Compensation: Crisp 100$ bill. Could be worth it, if you drive a snow plow. Fun gig as playful assistant to supportive person. I’m looking for someone in good shape and as easy to speak with and look at as I am! Lol please send work history and your pics for more information thanks Don’t personal assistants do things, like file, make phone calls, that kind of thing? Something about this ad is creepy.
It seems to be working for Google, so why not here in Wisconsin? I guess sheep would be okay too. Let’s discuss. Note: I live in suburbia and have a 200 square foot lawn. Call me if that’s a problem. 4. CA: 420 delivery driver looking for someone to set up deliveries for a collective in N. CAL ,, all products will be furnished , and all legal papers , eamil back. Anyone with a history of stealing pot-filled trucks and driving them over the border will not be considered.
I have a terrible problem. My litter box is dirty and smells horrible and I don’t want to clean it. I am amazing at making pancakes however. I will trade my pancake skills for a clean litter box. Serious inquires only. * Location: bathroom corner Nothing like having pancakes with the smell of kitty litter still fresh in your nose. Happy Friday!
Source: Business Pundit | 7 May 2010 | 7:34 am Big Banks Get To Stay BigBy Jacob Goldstein A measure that would have made the nation's biggest banks shrink their balance sheets got voted down in the Senate yesterday. The vote came as the Senate continued to work through a bunch of proposed amendments to the finance reform bill. A separate amendment that passed earlier this week gives the government the authority to shut down big, failing financial institutions. That amendment is supposed to get rid of the whole notion of "too big to fail." But economists across the ideological spectrum have argued that huge financial institutions will always have an implicit government guarantee, because allowing them to fail would be too disruptive to the economy. The only way to end "too big to fail" is to end the "too big" part, Planet Money's Adam Davidson recently reported. Whether or not that's worth doing is the subject of much debate. Opponents of the amendment argued that managing banks' risk, not size, is the key to reducing the risk of future crises.And, they say, limiting banks' size could hurt their ability to compete in global markets. Other amendments: A measure that would have moved a new consumer protection agency into the FDIC was voted down. An amendment to audit the Fed was tweaked so that it now calls for a one-time audit of the Fed's emergency lending to banks. Politico has more on both amendments. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 7 May 2010 | 7:30 am Evan Thomas Discusses `The War Lovers': Lewis LaphamSource: Bloomberg - All Podcasts | 7 May 2010 | 7:12 am Today’s Best Market Rumors (5/7/2010)Updated throughout the day. The Goldman Sachs Group Inc (NYSE: GS) is in settlement talks with the SEC. (WSJ) American International Group, Inc (NYSE: AIG) fired Goldman as it primary adviser (NYTimes) Douglas A. McIntyre Filed under: Rumors Tagged: AIG, GS[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 May 2010 | 6:54 am Parking Illegally Can Backfire
Source: Business Pundit | 7 May 2010 | 5:05 am Bank of Japan pumps funds into marketThe central bank moved to offer Y2,000bn in overnight liquidity to ‘increase markets’ sense of security’ because of turmoil resulting from the debt crisis in GreeceSource: Financial Times - US homepage | 7 May 2010 | 5:03 am
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