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Euro falls to four-year low on debt worriesSingle currency hits four-year low on sovereign debt worries, fuelling concerns the euro may face free-fall.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 May 2010 | 4:08 am BP’s Modest SolutionBP plc (NYSE: BP) says it has made modest progress in slowing the leak of crude into the Gulf of Mexico from its Deepwater Horizon rig wreck. It says that a siphon put into the well, 5,000 feet below the ocean’s surface, has begun to capture some small amount of the oil. But, the siphon works intermittently. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 May 2010 | 4:07 am China's growth passes peak and more tightening fearedBEIJING (Reuters) - A Chinese leading economic indicator showed that growth may have already peaked in the world's third-largest economy, with the stock market falling on investor worries about the government's campaign to rein in property prices.
Source: Reuters: Business News | 17 May 2010 | 4:06 am China's growth passes peak and more tightening feared (Reuters)
Source: Yahoo! News: Stock Markets News | 17 May 2010 | 4:06 am UK Budget to be on 22 JuneThe coalition government will hold its "emergency Budget" on 22 June, Chancellor George Osborne saysSource: BBC News | Business | World Edition | 17 May 2010 | 4:05 am Thousands face ash cloud delaysHeathrow and Gatwick airports face major disruption after the return of the volcanic ash cloud from Iceland to UK airspace.Source: BBC News | Business | World Edition | 17 May 2010 | 4:05 am Doctors' Medicare payouts to be cut 21%For the fourth time this year, doctors face a potential huge cut in the fees that the government pays them to treat Medicare patients.Source: Business and financial news - CNNMoney.com | 17 May 2010 | 4:04 am UK's Pru prices $21 billion cash callLONDON (Reuters) - British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG's Asian unit.
Source: Reuters: Business News | 17 May 2010 | 4:04 am Indications: U.S. stock futures steady before Lowe's, dataU.S. stock futures hold steady Monday as worries over European Union debt and Chinese growth hang over the market ahead of earnings from home-improvement retailer Lowe’s and a series of economic releases.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 4:04 am Savings plan next week - OsborneChancellor George Osborne says the government will announce next week how it will make £6bn of spending cuts this year.Source: BBC News | Business | World Edition | 17 May 2010 | 4:03 am Microsoft may have to fight for place on tabletsGrowth of devices may leave Windows juggernaut out in the cold.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 4:00 am PC makers look to challenge Apple's iPadWith the iPad a runaway success, other personal computer makers are gearing up to challenge Apple Inc. in what has emerged as technology's hot new market.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 4:00 am U.K. gets new fiscal watchdog ahead of budgetBritish Chancellor of the Exchequer George Osborne on Monday confirms the establishment of a new budget watch dog to provide independent fiscal forecasts as the nation’s new Conservative-Liberal Democrat coalition government prepares to issue a new “emergency” budget on June 22.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 3:59 am Iran to deposit nuclear fuel in TurkeyAs part of efforts to head off fresh international sanctions, Iran has agreed to swap nuclear fuel with big powers in neighbouring TurkeySource: Financial Times - US homepage | 17 May 2010 | 3:54 am Osborne to deliver emergency Budget on June 22George Osborne, the Chancellor, announced today that the coalition Government’s emergency Budget would be delivered on June 22. Source: Latest Business News from Times Online | 17 May 2010 | 3:54 am Starbucks Moves Way Down Market With Flavored CoffeeOn May 12th, Starbucks (NASDAQ: SBUX) announced it would strengthen its Seattle’s best brand by building relationships that would get the brew into 30,000 locations by the end of the year. Here is how Starbucks described the initiative: “From cafes and cruise ships to bookstores and grocery aisles, Seattle’s Best Coffee’s diverse distribution network is rapidly expanding.” The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 May 2010 | 3:50 am Chinese shares hit one-year lowChinese shares fall to their lowest point in a year as plans to tighten up on property price inflation scare investors.Source: BBC News | Business | World Edition | 17 May 2010 | 3:49 am Mortgage borrowing 'recovering'Mortgage borrowing by house buyers is recovering, the Council of Mortgage Lenders says.Source: BBC News | Business | World Edition | 17 May 2010 | 3:46 am Housing market diagnosis: Bi-polarBi-polar is what comes to mind when diagnosing the post-homebuyer tax credit market. There are two separate forces pulling it in opposite directions, and experts aren't yet sure which path the market will take.Source: Business and financial news - CNNMoney.com | 17 May 2010 | 3:45 am Major UK airports reopen; Amsterdam stays shut (AP)
Source: Yahoo! News: Business News | 17 May 2010 | 3:43 am Marsh on Monday: Britain's hand in the euro dramaYou may not know this, but Britain is a partial member of economic and monetary union in Europe and provides part of the capital backing for the European Central Bank, writes David Marsh.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 3:42 am EU prepares for hedge fund voteA key committee of Euro MPs prepares to vote on new regulations governing hedge funds and venture capitalists.Source: BBC News | Business | World Edition | 17 May 2010 | 3:38 am Europe Markets: Oil-firm gains help offset Europe economic fearsEuropean shares shake off early weakness to advance on Monday as gains for oil firms help offset lingering worrise about the economy as the euro touches a four-year low against the dollar.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 3:38 am Euro, shares and oil slump over Europe debt fears (AFP)
Source: Yahoo! News: Business News | 17 May 2010 | 3:33 am Household wealth grows five-foldHousehold wealth in the UK has risen five-fold over the past 50 years, according a report by the Halifax.Source: BBC News | Business | World Edition | 17 May 2010 | 3:32 am Man Group agrees to buy GLG PartnersMan Group has agreed to buy rival GLG Partners in a surprise move that will improve its firepower in the US market. Source: Latest Business News from Times Online | 17 May 2010 | 3:27 am Euro at four-year low as fiscal woes weighMonday 09:45 BST: The euro slumps to a four-year low against a robust dollar as fiscal woes continue to drive global markets. Traders switched to "risk off" in Asia as the worries about the impact...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 3:25 am Asian stocks drop as euro slidesAsian stocks dived Monday, as ongoing worries about the European economy led to another drop in the euro and caused anxiety among investors.Source: Business and financial news - CNNMoney.com | 17 May 2010 | 3:24 am Man Group to buy GLG in bid to kick-start growthLONDON (Reuters) - Hedge fund firm Man Group PLC has agreed to buy rival GLG Partners for $1.6 billion as it seeks to boost its flagging growth while creating a new giant in an industry reshaping after the financial crisis.
Source: Reuters: Business News | 17 May 2010 | 3:21 am Rio Tinto three fail China appealA Shanghai court rejects the appeals of three former Rio Tinto employees against their sentences for corruption.Source: BBC News | Business | World Edition | 17 May 2010 | 3:20 am Prudential in $21bn cash callInsurance giant Prudential announces plans to raise $21bn from shareholders in the UK's biggest rights issue to date.Source: BBC News | Business | World Edition | 17 May 2010 | 3:17 am IRS pitches tax credit for health insurance (AP)AP - Pitching President Barack Obama's health care law to skeptical business owners, the IRS on Monday will announce ground rules for small firms wishing to claim a new federal tax credit for health insurance.Source: Yahoo! News: Business News | 17 May 2010 | 3:17 am Shanghai drops 5.1% as Asia stocks, forex take hitAsian stocks and most regional currencies slumped Monday, with resource-sector shares and exporters hit particularly hard, on fears that sovereign-debt troubles in the euro zone will drag on global economic growth.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 3:17 am China’s Market Plunge Far From OverChina’s economic prospects are the best that they have been in two years. The World Bank expects its GDP to rise 10.5% this year. There are early signs of inflation, but those may be the result of the $585 billion stimulus package the central government put in place early in 2009. That investment is over. Manufacturing [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 May 2010 | 3:11 am Amex, Permira enter fray for RBS WorldPay: sourcesLONDON (Reuters) - American Express Co has teamed up with UK private equity firm Permira to bid for Royal Bank of Scotland's $4 billion payment processing arm, people familiar with the matter said on Monday.
Source: Reuters: Business News | 17 May 2010 | 3:07 am Man Group to buy GLG Partners for $1.6 billionHedge fund manager Man Group said Monday it will buy rival GLG Partners in a $1.6 billion deal that will help the firm diversify into new management strategies.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 3:07 am What's the bug up Apple's @$$?Seriously, what's gotten into Apple?Source: Business and financial news - CNNMoney.com | 17 May 2010 | 3:06 am Fundamentals Can't Promise a Steady Rally (Pundit Watch)Even as the U.S. economy improves, Europe sways the market.
Source: SmartMoney.com | 17 May 2010 | 3:01 am Lowball Home Appraisal Can Spoil DealDo home buyers have recourse when appraisals come in too low?
Source: SmartMoney.com | 17 May 2010 | 3:01 am Eliminating Cellphone 'Bill Shock' (Deal of the Day)The FCC calls for public comment on bill overages; how to keep yours in check.
Source: SmartMoney.com | 17 May 2010 | 3:01 am 10 Things Fitness Clubs Won't Tell You (10 Things)Gym attendance is up; expect longer lines at the treadmill and overtaxed staff.
Source: SmartMoney.com | 17 May 2010 | 3:00 am 7 great road-trip carsIt's almost summer-vacation season. If you're planning on a long, long trip, here are the best new cars you could take.Source: Business and financial news - CNNMoney.com | 17 May 2010 | 2:59 am European Stocks to Watch: Novo Nordisk a star amid stodgy pharmaceuticalsWhile the large-cap pharmaceuticals struggle, Novo Nordisk has rallied as its expertise in diabetes pays off. Some say the advance has run too far.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 2:59 am EU car registrations fall first time in 10 monthsRegistrations of new cars in the European Union slumped in April for the first time in 10 months, as government incentives that had been propping up the automobile market either ended or started to decline.
Source: MarketWatch.com - Top Stories | 17 May 2010 | 2:58 am Share tips: buy BTMore share tips including ARM and Old Mutual.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 May 2010 | 2:55 am Prudential details rights issue for AIA takeover (AP)AP - Prudential PLC on Monday announced a rights issue to raise 14.5 billion pounds ($20.9 billion) to help finance its $35.5 billion acquisition of the Asia-based life insurer AIA Group from bailed-out U.S. insurance firm AIG.Source: Yahoo! News: Business News | 17 May 2010 | 2:54 am George Osborne to deliver emergency Budget on June 22Chancellor will deliver his first emergency Budget on June 22, six weeks after the new coalition Government took office, after saying there were many 'financial skeletons in the closet'.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 May 2010 | 2:43 am Apple's iPhone replaces Blackberry for some bankersSINGAPORE/HONG KONG (Reuters) - British bank Standard Chartered is replacing the Blackberry, currently its standard corporate communications device, with the iPhone, a move that could eventually result in thousands of bankers switching to the Apple device for business communication on the go.
Source: Reuters: Business News | 17 May 2010 | 2:42 am Man agrees $1.6bn takeover of rival GLGCash-and-shares deal creates a global alternative investment manager with a combined $63bn of funds under managementSource: Financial Times - US homepage | 17 May 2010 | 2:27 am Oil falls below $70 as euro sinks to 4-year low (AP)
Source: Yahoo! News: Business News | 17 May 2010 | 2:25 am Stock futures signal losses (Reuters)
Source: Yahoo! News: Stock Markets News | 17 May 2010 | 2:17 am Stock futures signal losses(Reuters) - U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.46 percent, Dow Jones futures down 0.51 percent and Nasdaq 100 futures down 0.21 percent at 3:55 a.m. ET.
Source: Reuters: Business News | 17 May 2010 | 2:17 am Financial stocks lead losses in LondonLondon equities continued to make losses on Monday, with financial stocks under stubborn pressure on the day the Prudential published terms of its delayed rights issue. With attention already firmly...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 2:14 am Stocks and euro slip on austerity fears (Reuters)
Source: Yahoo! News: Stock Markets News | 17 May 2010 | 2:10 am FTSE falls as euro slumps (AFP)
Source: Yahoo! News: Stock Markets News | 17 May 2010 | 2:06 am Alliance Boots' annual profits top £1bnAlliance Boots, Britain's biggest pharmacy chain, posted annual profits of over £1bn on Monday, becoming only the third UK retailer to pass that milestone.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 May 2010 | 2:03 am 24/7 Wall St.’s Corporate Power Rankings: Week 18The 24/7 Wall Street Corporate Power Rankings of the thirty-two most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and change, and credible rumors. It is, in effect, a new version of the DJIA. The Corporate Power Rankings are released at midnight [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 May 2010 | 2:02 am World cup winners 'usually poor'Winners of the World Cup are not generally winners in world economics - although a home advantage often helps.Source: BBC News | Business | World Edition | 17 May 2010 | 2:00 am Man Group buys GLG in $1.6bn dealMan Group, the quoted British hedge fund firm, has agreed to buy rival GLG Partners in $1.6bn (£1,1bn) deal.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 May 2010 | 1:55 am Pru unveils $20bn rights issueUK insurer launches its delayed $20bn rights issue and tells investors the $35.5bn acquisition of AIA, the Asian businesses of AIG, will be more valuable than either group on their ownSource: Financial Times - US homepage | 17 May 2010 | 1:54 am Prudential announces £14.5bn rights issuePrudential has launched its $21 billion ($£14.5 billion) rights issue, the largest in British corporate history, finally allowing the insurer to push ahead with its planned $35.5 billion acquisition of AIG$’s Asian insurance business. Source: Latest Business News from Times Online | 17 May 2010 | 1:53 am Media Digest 5/17/2010 Reuters, WSJ, NYTimes, FT, BloombergMarketWatch: Shanghai closed down 2% and Europe is weak MarketWatch: The euro hit a four year low against the dollar. Reuters: BP plc (NYSE; BP) says it is making progress with the leak. Reuters: Volcanic ash has grounded hundreds of fights in the UK Reuters: MaterCard (NYSE: MA) is fighting to keep credit card fees. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 May 2010 | 1:52 am Euro plunges to four-year low as debt fears weigh (AFP)
Source: Yahoo! News: Stock Markets News | 17 May 2010 | 1:27 am Prudential launches record £14.5bn rights issuePrudential has launched its record £14.5bn rights issue to fund a proposed takeover of Asian rival AIA.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 May 2010 | 1:25 am UPDATE 1-Man Group buys GLG PartnersLONDON, May 17 (Reuters) - Hedge fund firm Man Group PLC has agreed a deal to buy rival GLG Partners giving it a much needed boost in efforts to break the U.S. and creating a new giant in an industry...Source: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:23 am ‘Step forward’ in effort to quell BP spillBP has scored its first success in the battle to control its oil spill in the Gulf of Mexico, attaching a tube to the broken pipe on the sea bed to collect the escaping oil and gasSource: Financial Times - US homepage | 17 May 2010 | 1:15 am Asian markets dragged down by euro fearsFears stoked by the Greek debt crisis and a weakening euro on Monday dragged down Asian stocks as investors worried that export-dependent economies in the region would be badly hit by a slowdown in demand...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:13 am UPDATE 3-UK's Prudential prices cash call, to woo investors* Revenue synergies of $800 million pre-tax during 2013Source: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:09 am Worry that Gulf oil spreading into major current (AP)
Source: Yahoo! News: Business News | 17 May 2010 | 1:06 am Nichii Gakkan Co -2009/10 parent resultsYear ended Year ended Year to Six months toSource: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:02 am Nichii Gakkan Co -2009/10 group resultsYear ended Year ended Year to Six months toSource: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:02 am TABLE-Seed Co -2009/10 parent resultsYear ended Year ended Year to Six months toSource: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:01 am TABLE-Seed Co -2009/10 group resultsYear ended Year ended Year to Six months toSource: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:01 am TABLE-Zeria Pharm -2009/10 parent resultsRESULTS RESULTS Sales 47.86 46.67Source: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:00 am TABLE-Zeria Pharm -2009/10 group resultsYear ended Year ended Year to Six months toSource: RSS feed - channel BNewsBusiness | 17 May 2010 | 1:00 am Europe's economy bodes poorly for U.S. stock marketsInvestors worry that budget cuts in Greece and Spain could threaten the global economic rebound, and that the dollar's growing strength against the euro could reduce demand for U.S. exports.Stock traders are worried that what happens in Europe won't stay in Europe.
Source: L.A. Times - Business | 17 May 2010 | 1:00 am Drop in state seed money puts small firms' growth at riskLess money is available through the California Small Business Loan Guarantee program, which may result in fewer companies getting funds.Less money is available through the California Small Business Loan Guarantee program, which may result in fewer companies getting funds
Source: L.A. Times - Business | 17 May 2010 | 1:00 am Older buildings get new lead-safety rulesContractors working on homes, schools and childcare facilities built before 1978, when U.S. regulators banned lead paint, must take extra precautions.Finding someone to replace windows just got a little more challenging because of tough new lead-safety requirements for contractors working on older homes.
Source: L.A. Times - Business | 17 May 2010 | 1:00 am Rewards tougher to redeem as airlines fill flightsIn February, the average commercial plane in the U.S. flew 76.6% full, the highest percentage for that month since World War II, according to the Transportation Department. ...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:00 am Healthcare overhaul's tax provisions have small firms crying foulStarting in 2012, all companies would have to file tax forms not just for freelancers, as in the past, but for anyone from whom they buy $600 in goods or services over the course of a year. ...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:00 am Europe's economy bodes poorly for U.S. stock marketsInvestors worry that budget cuts in Greece and Spain could threaten the global economic rebound, and that the dollar's growing strength against the euro could reduce demand for U.S. exports. ...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:00 am Older buildings get new lead-safety rulesContractors working on homes, schools and childcare facilities built before 1978, when U.S. regulators banned lead paint, must take extra precautions. ...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:00 am Healthcare overhaul's tax provisions have small firms crying foulStarting in 2012, all companies would have to file tax forms not just for freelancers, as in the past, but for anyone from whom they buy $600 in goods or services over the course of a year.Small businesses fear that they may face expensive new payroll paperwork requirements as part of little-known tax provisions in President Obama's healthcare overhaul.
Source: L.A. Times - Business | 17 May 2010 | 1:00 am Fallout shelters for a new generationUnderground bunker berths and 'survival condos' purport to offer refuge from nuclear wars, terrorist attacks, giant tsunamis, 2012 — you name it. And they don't come cheap. ...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:00 am Small-Business Q&A: Can a $36 debt hurt credit scores?Also: Customs regulations and pointers on online marketing. Dear Karen: My business disputed a cable bill for $36. I refused to pay. Can...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:00 am Small-Business Q&A: Can a $36 debt hurt credit scores?Also: Customs regulations and pointers on online marketing.Dear Karen: My business disputed a cable bill for $36. I refused to pay. Can this damage my credit?
Source: L.A. Times - Business | 17 May 2010 | 1:00 am Rewards tougher to redeem as airlines fill flightsIn February, the average commercial plane in the U.S. flew 76.6% full, the highest percentage for that month since World War II, according to the Transportation Department.All airline mileage reward programs are not created equal. In fact, finding the right one is more crucial than ever.
Source: L.A. Times - Business | 17 May 2010 | 1:00 am Fallout shelters for a new generationUnderground bunker berths and 'survival condos' purport to offer refuge from nuclear wars, terrorist attacks, giant tsunamis, 2012 — you name it. And they don't come cheap.It's tough to imagine the end of the world from Steve Kramer's peaceful hilltop home in San Pedro, with its views of lush palm trees and red-tile roofs above a turquoise sea.
Source: L.A. Times - Business | 17 May 2010 | 1:00 am Drop in state seed money puts small firms' growth at riskLess money is available through the California Small Business Loan Guarantee program, which may result in fewer companies getting funds. ...Source: RSS feed - channel BNPaperBusiness | 17 May 2010 | 1:00 am George Osborne: Labour was 'irresponsible' with Britain's finances and 'fiddled forecasts'Chancellor launches independent forecasting body as he accuses Labour of "fiddling forecasts" and being "irresponsible" with Britain's finances.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 May 2010 | 12:50 am Lundbeck reports positive results for escitalopramCOPENHAGEN, May 17 (Reuters) - Danish drugmaker Lundbeck said a study with anti-depressant escitalopram in Japan yielded positive results, and its partner Mochida aimed to file for approval no later...Source: RSS feed - channel BNewsBusiness | 17 May 2010 | 12:48 am UPDATE 1-Netcare H1 earnings up, increases capexJOHANNESBURG, May 17 (Reuters) - Africa's largest hospital group Netcare Ltd on Monday reported a 28 percent rise in first-half earnings and increased its capital spending on a favourable outlook for...Source: RSS feed - channel BNewsBusiness | 17 May 2010 | 12:42 am NZ's shares decline less than Australia'sThe New Zealand sharemarket weakened slightly while other markets in Asia tanked today as a wild ride by financial market on concern about sovereign debt in Europe resumed.The benchmark NZX-50 index closed down 20.263 points,...Source: nzherald.co.nz - Business | 17 May 2010 | 12:40 am Asian stocks plunge as euro falls to 4-year low (AP)
Source: Yahoo! News: Business News | 17 May 2010 | 12:20 am Asian stocks plunge as euro falls to 4-year low (AP)
Source: Yahoo! News: Stock Markets News | 17 May 2010 | 12:20 am Astellas buys OSI Pharma for $4 billion in cancer pushTOKYO (Reuters) - Astellas Pharma , Japan's No.2 drugmaker, agreed to buy U.S. biotech OSI Pharmaceuticals for $4 billion in cash in a sweetened bid that will add OSI's blockbuster cancer drug Tarceva to its line-up.
Source: Reuters: Business News | 17 May 2010 | 12:18 am NZ dollar tests US70cThe New Zealand dollar was more than a US cent lower than it had been on Friday today after investors again took fright and sold the euro to a four-year lows."Sovereign debt concerns continue to cast a shadow over the eurozone,"...Source: nzherald.co.nz - Business | 17 May 2010 | 12:01 am Air NZ to face court proceedingsAir New Zealand has become the 15th airline to face court proceedings alleging price fixing in the air cargo industry from the Australian Competition and Consumer Commission (ACCC).Australia's competition watchdog initiated proceedings...Source: nzherald.co.nz - Business | 16 May 2010 | 11:58 pm Europe debt woes hit euro, Asian sharesEuropean shares follow Asian stock markets lower as euro slides on fresh worries over Europe's debt woes.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 May 2010 | 11:58 pm Miners, Australia government edge towards tax compromiseSYDNEY/BRISANE (Reuters) - Global miner BHP Billiton appeared to soften on Monday its opposition to a new Australian mining tax, saying the levy should apply only to new projects, while the government signaled it might be open to compromise.
Source: Reuters: Business News | 16 May 2010 | 11:43 pm Private equity firm Apollo in talks to buy Pactiv Corp: report(Reuters) - Private equity firm Apollo Global Management is in talks to buy U.S. packaging maker Pactiv Corp in a leveraged deal, the Wall Street Journal said, citing people familiar with the situation.
Source: Reuters: Business News | 16 May 2010 | 11:40 pm Euro plunges to four-year low against dollarNervous trading in Tokyo sent the euro into an early nosedive on Monday morning, as fears of further debt crisis contagion and stalling growth crept across dealing rooms. Source: Latest Business News from Times Online | 16 May 2010 | 10:48 pm Consumer spending trend is a shaky foundation for economic recoveryAnalysts say the upswing in buying is largely by affluent people snapping up luxury items and delinquent homeowners who have extra money since they aren't making their mortgage payments.Increased consumer spending has fueled hopes that the current economic recovery will keep getting stronger, but behind the encouraging numbers is a little-noticed reality: Much of the new spending has come not from America's broad middle class but from a small slice of affluent people at the top.
Source: L.A. Times - Business | 16 May 2010 | 10:33 pm Municipal Bonds: DerailedThe scale is still small, but more muni bonds are running into trouble.
Source: SmartMoney.com | 16 May 2010 | 10:01 pm Neff Rental files for Chapter 11 bankruptcy(Reuters) - U.S. equipment rental company Neff Rental Inc filed for a prearranged Chapter 11 bankruptcy protection late Sunday in order to shrink its balance sheet and eliminate more than $400 million of debt.
Source: Reuters: Business News | 16 May 2010 | 10:00 pm Some oil spill events from Sunday, May 16, 2010 (AP)AP - Events May 16, Day 27 of a Gulf of Mexico oil spill that began with an explosion and fire on April 20 on the drilling rig Deepwater Horizon, owned by Transocean Ltd. and leased by BP PLC, which is in charge of cleanup and containment. The blast killed 11 workers. Since then, oil has been pouring into the Gulf from a blown-out undersea well at about 210,000 gallons per day.Source: Yahoo! News: Business News | 16 May 2010 | 8:17 pm Wellington Drive in US dealA New Zealand based company has signed a distribution agreement with American electronic motors manufacturer AO Smith to sell its product throughout the United States.Wellington Drive Technologies focuses on energy-efficient motors...Source: nzherald.co.nz - Business | 16 May 2010 | 7:30 pm Osborne set to give in on hedge fund lawGeorge Osborne is preparing to concede defeat over a European regulatory crackdown on hedge funds and private equity. Source: Latest Business News from Times Online | 16 May 2010 | 6:01 pm Economic recovery may miss unemployedFears that economic recovery will fail to stem a tide of rising unemployment are likely to be stoked today by revelations that businesses are reluctant or unable to recruit new staff. Source: Latest Business News from Times Online | 16 May 2010 | 6:01 pm Business briefing: Iron and steelInvestors have begun to bet on a fall in shares in Rio Tinto and other miners, in the expectation that steel and iron ore markets could collapse in the second half of this year. Source: Latest Business News from Times Online | 16 May 2010 | 6:01 pm PwC raids rival before Middle East stepPricewaterhouseCoopers is ramping up its operations in the Middle East, with plans to more than double fee income in the region to $500 million within two years.$ Source: Latest Business News from Times Online | 16 May 2010 | 6:01 pm Reading FC chairman seeks extra time from lenderSir John Madejski is in talks with lenders over the future of one of his biggest companies Sackville Properties. Source: Latest Business News from Times Online | 16 May 2010 | 6:01 pm Prudential on the brink of breakthrough in rights issuePrudential was poised last night to launch its long-awaited $21 billion rights issue, the largest in British corporate history, to fund its controversial $35.5 billion takeover bid for AIA in Asia.$ Source: Latest Business News from Times Online | 16 May 2010 | 6:01 pm Stocks: $2.9 trillion lying in waitInvestors have socked away billions of dollars since March 2009 and it's unlikely that money will come pouring into the stock market anytime soon.Source: Business and financial news - CNNMoney.com | 16 May 2010 | 5:10 pm Service sector growth slowsNew Zealand's services sector slowed its expansion last month, reflecting a contraction in retail trade, accommodation, cafes and restaurants.The BNZ-Business NZ performance of Services Index slipped 2.6 points to 54.1 in April,...Source: nzherald.co.nz - Business | 16 May 2010 | 5:00 pm Brian Fallow: Growth of jobs best among the positive pointersThe economic backdrop to this week's Budget is a lot brighter than it was a year ago or even at the time of the half-year update last December.The economy has been growing again for a year now and that is finally being felt where...Source: nzherald.co.nz - Business | 16 May 2010 | 4:30 pm Airports closed as volcanic ash continuesAirports in parts of the British Isles remained closed until the early hours of Monday as a cloud of volcanic ash from an Icelandic volcano disrupted air passengers for the third time in a monthSource: Financial Times - US homepage | 16 May 2010 | 4:27 pm Fonterra wants total controlAs Fonterra rebuilds its presence in China chief executive Andrew Ferrier says the dairy giant wants to control all aspects of its supply chain.In 2008 Fonterra owned 43 per of Chinese dairy company Sanlu - one of 22 firms caught...Source: nzherald.co.nz - Business | 16 May 2010 | 4:00 pm Short on cash? GM wants to finance subprime car buyersDETROIT - General Motors wants to return to the era of subprime lending.The problem is, it can't. At least not in big numbers. That's why the automaker wants more control over its lending again.GM's top North American executive...Source: nzherald.co.nz - Business | 16 May 2010 | 4:00 pm NZ dollar opens weaker, stronger against euroThe New Zealand dollar opened weaker against the greenback this morning, but was stronger against the euro as Eurozone continued to struggle with fiscal problems.By 8am today the New Zealand dollar was buying US70.75c, down from...Source: nzherald.co.nz - Business | 16 May 2010 | 3:24 pm KPMG and PwC eye rating moveTwo of the world’s largest accounting firms have considered entering the credit rating business, in a move that would pitch them against the current top three – and heavily criticised – agencies Moody’s, Standard & Poor’s and FitchSource: Financial Times - US homepage | 16 May 2010 | 3:02 pm Writer gets two-minute meeting with his heroWhangarei children's book writer Lucas Remmerswaal has finally succeeded in meeting billionaire businessman Warren Buffett - even if it was only an impromptu encounter in the back of a Nebraska steak house.In March the Herald...Source: nzherald.co.nz - Business | 16 May 2010 | 3:00 pm BP says tube is siphoning oil - CNNSource: Business and financial news - CNNMoney.com | 16 May 2010 | 2:17 pm 15 biggest job losersA whopping 761,422 Fortune 500 jobs were lost to layoffs, spinoffs, and attrition. These 15 companies saw the worst cutbacks.Source: Business and financial news - CNNMoney.com | 16 May 2010 | 2:14 pm Government softens on bank reformGovernment advisers have dampened the likelihood of a break-up of Britain's major banks in favour of internal reforms.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 May 2010 | 1:30 pm Democrats open to talks on derivativesTwo key Democratic senators offered a narrow path for compromise over the weekend after banks pleaded with regulators and clients to help overturn provisions of a financial regulation bill they say will rock marketsSource: Financial Times - US homepage | 16 May 2010 | 1:26 pm Lord Myners calls for 'one last push' at EU hedge fund talksFormer City Minister Lord Myners has called on George Osborne, the new Chancellor, to make "one last push" to get a final concession from fellow European finance ministers on a new directive for the private equity and hedge fund industry.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 May 2010 | 1:13 pm GM wants more subprime buyers; will lender agree? (AP)AP - If your credit isn't good, General Motors Co. still wants to sell you a car.Source: Yahoo! News: Business News | 16 May 2010 | 12:56 pm Berlin calls for eurozone budget lawsGermany is to press other eurozone countries to adopt their own versions of Berlin’s balanced budget law. The law bans the federal government from running a deficit of more than 0.35 per cent of gross domestic product by 2016Source: Financial Times - US homepage | 16 May 2010 | 12:41 pm Europe: Danger zoneEurope: A €750bn rescue package has bought time to prevent the single currency’s collapse but, with its unorthodox and potentially inflationary measures, it comes with great riskSource: Financial Times - US homepage | 16 May 2010 | 12:23 pm Greek leader considers action against US banks (AP)
Source: Yahoo! News: Business News | 16 May 2010 | 12:14 pm Stock market swings as traders question recovery (AP)AP - Stock traders are worried that what happens in Europe won't stay in Europe.Source: Yahoo! News: Stock Markets News | 16 May 2010 | 12:09 pm Google and Intel in web TV launchGoogle and Intel are expected to announce a significant breakthrough into consumer electronics and the broadcast industry this week with the launch of a ‘Smart TV’ platformSource: Financial Times - US homepage | 16 May 2010 | 11:07 am First Look: 'Robin Hood' wobbly in U.S., hits target overseasSherwood Forest was light on Americans but crowded with international moviegoers this weekend. Director Ridley Scott's pricey new big-screen adaptation of "Robin Hood" starring Russell Crowe opened to $37.1 million in the U.S. and Canada this weekend, according to an estimate from distributor Universal Pictures. That's a weak start for a big-budget summer event film and on the low end of already unimpressive expectations.
Source: L.A. Times - Business | 16 May 2010 | 10:45 am Greek leader: Banks bet against usThe prime minister of Greece said Sunday that he would not rule out taking legal action against banks that may have preyed on his country's precarious fiscal state.Source: Business and financial news - CNNMoney.com | 16 May 2010 | 10:20 am Euro-zone troubles may roil stocks (Reuters)Reuters - U.S. stocks could face more volatility this week as growing doubts about whether Europe can solve its deepening debt crisis are likely to take center stage again.Source: Yahoo! News: Stock Markets News | 16 May 2010 | 10:01 am Gulf crisis: Where were the watchdogs?After a week grilling oil executives over what caused the Gulf of Mexico oil spill, lawmakers are setting their sights on government regulators next week.Source: Business and financial news - CNNMoney.com | 16 May 2010 | 7:53 am Eyjafjallajokull Erupts Again, Closing More AirspaceThe Eyjafjallajokull volcano erupted off and on from 1821 to 1823, the last time it was active. So, it should come as no surprise that the eruption in early April which effectively cut air travel in Europe and across the Atlantic should be repeated itself again, and against. The International Air Transport Association put the cost to the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 May 2010 | 5:42 am Greek PM Say US Banks Will Be InvestigatedGreek Prime Minister George Papandreou said his country would investigate what role American investment banks played in damaging his nation’s ability to raise money. His theory appears to be that the banks did something wrong. Asked whether there was a possibility of legal action against the banks, he said: “I wouldn’t rule out that this may [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 May 2010 | 5:33 am Japan, China in spat over nuclear arsenal (AFP)
Source: Yahoo! News: Stock Markets News | 16 May 2010 | 4:26 am Kuwaiti bourse suspends 22 firms (AFP)
Source: Yahoo! News: Stock Markets News | 16 May 2010 | 2:38 am
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