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NYSE expects all U.S. stocks to have circuit breakers (Reuters)
Source: Yahoo! News: Stock Markets News | 20 May 2010 | 4:17 am Court overturns ban on BA strikesThe Unite union wins its appeal against an injunction in a UK court stopping planned BA cabin crew strikes.Source: BBC News | Business | World Edition | 20 May 2010 | 4:16 am Dubai World agrees $23.5bn debt dealState-owned conglomerate agrees economic terms with its main creditors over the most controversial aspect of the state-owned company’s $23.5bn debt restructuringSource: Financial Times - US homepage | 20 May 2010 | 4:16 am Government gets rid of unpopular Home Information PacksHome Information Packs (HIPs) are to be scrapped with immediate effect, the coalition Government announced today. Source: Latest Business News from Times Online | 20 May 2010 | 4:15 am Europe Markets: Europe bounces off lows as banks rise; SAB dropsEuropean shares manage tentative gains, taking back a fraction of Wednesday's selling. Banks stand out with their broad move higher.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 4:15 am Indications: U.S. stock futures edge lowerU.S. stock market futures were trading mostly negative on Thursday, with economic data and retail earnings a focus as declines were limited by stability in the euro.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 4:11 am Retail sales beat expectations with 0.3% riseRetail sales held up better than expected last month, with the demand for fashion increasing hopes for consumer confidence. Source: Latest Business News from Times Online | 20 May 2010 | 4:10 am 10 coolest cars under $18,000Source: Business and financial news - CNNMoney.com | 20 May 2010 | 4:09 am Thousands march in Greek general strike (AP)
Source: Yahoo! News: Business News | 20 May 2010 | 4:09 am AP INVESTIGATION: Oil self-regulates around globe (AP)
Source: Yahoo! News: Business News | 20 May 2010 | 4:06 am Customer Service Still A Problem For SprintSprint-Nextel (NYSE: S) is in the midst of rolling out its next-generation 4G WiMax service which it hopes will give it advantages over larger rivals AT&T Wireless and Verizon Wireless. Sprint’s problem in gaining market share may be that its customer service is still sub-par.Zogby and MSN have released their new report on customer satisfaction. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 May 2010 | 4:05 am Toyota expert Sato calls for new leadership (AP)
Source: Yahoo! News: Business News | 20 May 2010 | 4:03 am Regulators to testify on market dive, new rules (AP)
Source: Yahoo! News: Business News | 20 May 2010 | 4:00 am Non-Profit Organization, Artists in the Kitchen, Selects Whitegate PR as Agency of RecordSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 4:00 am Huntington Appoints Keith Sanders Human Resources DirectorSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 4:00 am Sears Holdings Reports First Quarter ResultsSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 4:00 am N Korea condemned over warship attackNorth Korea has warned that any attempt to ramp up international sanctions against it would be met with “strong measures” including war after Pyongyang was accused of torpedoing a South Korean warshipSource: Financial Times - US homepage | 20 May 2010 | 3:59 am European markets steady after day-earlier losses (AP)
Source: Yahoo! News: Stock Markets News | 20 May 2010 | 3:58 am Royal Mail to get private moneyThe Conservative-Lib Dem coalition government has confirmed that it will seek a partial privatisation of Royal Mail.Source: BBC News | Business | World Edition | 20 May 2010 | 3:58 am No name gameThe music festivals that shun corporate sponsorsSource: BBC News | Business | World Edition | 20 May 2010 | 3:58 am Business Bullet: Euro, UK sales, Portland, Nat GridThe latest news on: Euro, UK sales, Portland, Nat GridSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 3:57 am Travel disruption: are you covered?Travellers faced another week of chaos this week.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 3:53 am Merkel urges tough finance rulesGerman Chancellor Angela Merkel calls for stricter financial regulation, having warned the euro was "in danger".Source: BBC News | Business | World Edition | 20 May 2010 | 3:51 am Gold Fields Drills Out 1 Moz Mineral Resource at Hamlet, St IvesSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 3:51 am Fresh bout of selling weighs on euroGlobal Market Overview: Single currency’s woes highlight investors’ cautious approach to risk as worries about the eurozone’s fiscal difficulties and geopolitical concerns weigh on sentimentSource: Financial Times - US homepage | 20 May 2010 | 3:48 am State Pensions Face $1 Trillion ShortfallThe problem with state and private sector pensions has grown since the beginning of the recession for the same reason that Social Security is troubled: the population is aging and the slow economy and unemployment are pushing down contributions into the funds. The state pension issue could led to a $1 trillion hole within 15 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 May 2010 | 3:44 am Economic Report: British retail sales rise in AprilBritish retail sales volume rises by 0.3% in April, continuing a rebound from a slowdown earlier this year that economists tied to rough weather and the expiration of a temporary cut in value-added tax.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 3:41 am Sydney, Seoul stocks hit in Asia amid euro fearsAsian stock benchmarks drop to multi-month lows Thursday as sentiment remains weak over euro zone debt and as South Korean faces increased tensions with North Korea.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 3:38 am FSA fines Simon Eagle £2.8m for market abuse - biggest fine for an individualThe fine for Simon Eagle is the largest levied on an individual by the regulator.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 3:33 am Wall Street reform fails key voteAfter months of negotiation and debate, far-reaching legislation to overhaul the rules of Wall Street failed a key test vote in the Senate on Wednesday, casting a shadow over Democratic efforts to push the effort forward.Source: Business and financial news - CNNMoney.com | 20 May 2010 | 3:32 am Banks, telecoms top Spain holdings of U.S. fundsOver 800 U.S.-based mutual funds have exposure to Spain, one of Europe’s economies that have many investors concerned right now.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 3:30 am Global Agrochemicals Market is set to Double by 2014: MarketsandMarketsSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 3:29 am Stock futures mixed as Applied Materials eyed(Reuters) - Stock index futures pointed to a mixed open on Wall Street on Thursday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.4 percent at 0836 GMT (4:36 a.m. ET).
Source: Reuters: Business News | 20 May 2010 | 3:23 am Stock futures mixed as Applied Materials eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 20 May 2010 | 3:23 am Home Information Packs scrappedThe coalition government suspends the use of Home Information Packs in England and Wales with immediate effect.Source: BBC News | Business | World Edition | 20 May 2010 | 3:23 am Louisiana shore sees heavy oil as BP prepares plug (Reuters)
Source: Yahoo! News: Business News | 20 May 2010 | 3:19 am Dubai World 'reaches agreement over debt' (AFP)
Source: Yahoo! News: Business News | 20 May 2010 | 3:17 am Shanks profits fall by a quarter - but it’s not down in the dumpsProfits at Shanks fell by almost a quarter during an eventful year in which the waste management company rejected a private equity takeover and issued a profits warning. Source: Latest Business News from Times Online | 20 May 2010 | 3:17 am CloudCrowd Delivers the World's First Online Factory Assembly LinesSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 3:08 am London Markets: Commodity-sector firms help U.K. shares to gainMiners and oil producers gain in British share trading on Thursday, taking back some sharp losses from the previous session.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 3:07 am Stock futures mixed as Applied Materials eyed(Reuters) - Stock index futures pointed to a mixed open on Wall Street on Thursday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures up 0.1 percent and Nasdaq 100...Source: RSS feed - channel BNewsBusiness | 20 May 2010 | 3:06 am Merkel: need 'signal of strength' on regulation (AP)AP - German Chancellor Angela Merkel has called on the world's rich and developing nations to send a "signal of strength" on regulation of markets and the financial industry.Source: Yahoo! News: Business News | 20 May 2010 | 3:06 am Business Interruption Insurance is Life Support for Your CompanySource: RSS feed - channel BNewsBusiness | 20 May 2010 | 3:06 am 3 Stocks for Weathering Currency Swings (Screens)Hough: The euro's plunge highlights the benefits of globally diversified firms.
Source: SmartMoney.com | 20 May 2010 | 3:01 am How to Hedge With a Bear Market FundETFs designed to profit from downturns are attracting gobs of cash.
Source: SmartMoney.com | 20 May 2010 | 3:01 am Seagate and Western Digital Drive to SucceedBusiness is booming for these disk-drive makers.
Source: SmartMoney.com | 20 May 2010 | 3:01 am With National Spotlight Focused on Healthcare, List of 'Healthiest Companies in America' AnnouncedSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 3:00 am Most Americans Unaware of Impending Regulatory Changes Regarding OverdraftsSource: RSS feed - channel BNewsBusiness | 20 May 2010 | 3:00 am IMF Points To Japan As Next Trouble SpotThe IMF had indicated that Japan may be the next trouble spot in the global economy, adding it to a list of several counties in Europe. The agency visited the country with the world’s second largest economy by GDP last week. It said Japan’s economy could grow by an anemic 2% this year and next. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 May 2010 | 2:59 am Juncker says markets irrational as Greek strike looms (Reuters)
Source: Yahoo! News: Business News | 20 May 2010 | 2:58 am Juncker says markets irrational as Greek strike loomsTOKYO/BERLIN (Reuters) - A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.
Source: Reuters: Business News | 20 May 2010 | 2:58 am Dubai World, bank lenders agree to termsDubai World and a committee representing its bank lenders agree in principle on a plan, first announced two months ago, to restructure about $23.5 billion of liabilities.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 2:57 am Right to strike?Do BA injunctions erode right to take industrial action?Source: BBC News | Business | World Edition | 20 May 2010 | 2:56 am Dubai World reaches deal on debtDubai World says it has reached an agreement "in principle" with most of its bank lenders to restructure debts worth $23.5bn.Source: BBC News | Business | World Edition | 20 May 2010 | 2:53 am Fading of inflation helps buyers and borrowers (AP)AP - It's a good time to buy a car, refinance a mortgage, hit the road or shop for clothes.Source: Yahoo! News: Business News | 20 May 2010 | 2:52 am NYSE expects all U.S. stocks to have circuit breakersSHANGHAI (Reuters) - All U.S. stocks will probably be subject to so-called circuit breakers by the end of this year, Duncan Niederauer, chief executive officer of stock exchange operator NYSE Euronext , said on Thursday.
Source: Reuters: Business News | 20 May 2010 | 2:51 am Capital gains as Great Portland reports 15.5% rise in net asset valueThe economy may still be fragile and the property market frail, but the demand for new office space in London is beginning to increase. Source: Latest Business News from Times Online | 20 May 2010 | 2:50 am Online dating without the creepy strangersKatherine Woo was hanging out with two former PayPal coworkers at her San Francisco loft last spring, brainstorming business ideas on the sofa. Then one got distracted by a cute girl on Facebook.Source: Business and financial news - CNNMoney.com | 20 May 2010 | 2:44 am Stocks rebound but euro zone fears weigh (Reuters)
Source: Yahoo! News: Stock Markets News | 20 May 2010 | 2:42 am Clothing helps push British retail sales higherBritish retail sales rose slightly more than expected in April, after stronger clothing and department store sales offset static food sales, official data showed on Thursday.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 2:41 am Cautious SABMiller reports 1.5% profit riseSABMiller on Thursday reports limp profit growth as the brewing giant predicts that consumer spending won’t pick up until the autumn.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 2:39 am Euro under renewed attack ahead of EU crisis talksShocked European ministers are preparing for emergency talks to shore up the euro after markets fell in reaction to panic measures in Germany. Source: Latest Business News from Times Online | 20 May 2010 | 2:38 am Export drive boosts Japan growthJapan's export-driven recovery helped economic growth accelerate in the first three months of 2010, figures show.Source: BBC News | Business | World Edition | 20 May 2010 | 2:29 am Fidelity calls for CGT rethinkFidelity, one Britain's biggest fund managers, is urging the new coalition government to rethink its planned rise in capital gains tax (CGT).Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 2:25 am Wal-Mart's sales tell a dismal storyIt certainly looks like happy days are here again. Many of the nation's biggest retailers, including Saks, Hewlett-Packard, Home Depot, and Target have release cheery sales reports. April's jobs reports showing a slight increase in the workweek and pay for workers, and more hiring across the board.Source: Business and financial news - CNNMoney.com | 20 May 2010 | 2:22 am National Grid reveals £3.2bn rights issueNational Grid said today that it will ask investors for £3.2 billion in a rights issue next month to fund more capital expenditure in Britain and to retain its credit rating. Source: Latest Business News from Times Online | 20 May 2010 | 2:22 am EC internal markets chief Michel Barnier to unveil new derivatives regime this summerThe European Commission will propose a new regime to control derivatives this summer, the EU executive's financial markets chief said on Thursday.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 2:16 am Bangkok counts cost of turmoilSix more bodies were found in a Thai Buddhist temple where thousands of anti-government protesters took refuge after the army moved to clear their nine-week old demonstrationSource: Financial Times - US homepage | 20 May 2010 | 2:13 am Germany's ban won't stabilize anythingLate Tuesday in Europe, German authorities announced they would temporarily ban naked short selling of certain financial institutions and buying of naked credit default swaps of European Union government bonds. Perhaps not surprisingly, the U.S. equity markets sold off on the news and the reaction from European markets Wednesday was just as predictable, down 2 - 3.5% across the continent.Source: Business and financial news - CNNMoney.com | 20 May 2010 | 2:09 am SABMiller shares slip as profits fallSABMiller shares slid after the maker of Miller Lite, Peroni and Grolsch beer reported a fall in full-year pre-tax profits.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 2:06 am Media Digest 5/20/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: The Senate was not able to reach consensus on the financial reform bill. Reuters: Heavy oil from the BP plc (NYSE: BP) rig came ashore in Louisiana. Reuters: Trading systems broke down at several companies during the big sell-off. Reuters: Asian stocks hit three-month lows on euro issues. Reuters: Oil is trading above $70 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 20 May 2010 | 2:03 am SABMiller annual profit up 1.5 pct in tough market (AP)AP - SABMiller PLC, the world's second-largest brewer, on Thursday posted a modest rise in profit for the full year as strong growth in the Americas, where it owns a stake in MillerCoors, helped it through an otherwise difficult market.Source: Yahoo! News: Business News | 20 May 2010 | 2:00 am Japan Q1 GDP grows steadily on exportsTOKYO (Reuters) - Japan's economy grew 1.2 percent in the first quarter, the biggest expansion in three quarters, on stimulus-driven consumption and solid exports to Asia, but market turmoil from the European debt crisis clouded the outlook.
Source: Reuters: Business News | 20 May 2010 | 1:50 am Ultra-light vehicles crunched in crash testsThose tiny electric cars you sometimes see on the road may be cheap, they aren't very safe, new crash tests show.Source: Business and financial news - CNNMoney.com | 20 May 2010 | 1:50 am Dubai World reaches deal over $23bn debt$Dubai World, Dubai’s debt-laden group, said that it had reached an agreement “in principle” with most of its bank lenders to restructure its $23.5 billion ($£16 billion) debt. Source: Latest Business News from Times Online | 20 May 2010 | 1:50 am Trading systems broke down at firms during "flash crash": report(Reuters) - Trading systems briefly broke down at hedge fund firm Citadel Investment Group and trading firm Knight Capital Group Inc when the stock markets plunged on May 6, the Wall Street Journal said.
Source: Reuters: Business News | 20 May 2010 | 1:47 am Europeans scramble to restore unityThe French government called for an urgent meeting of European securities regulators to discuss the implications of Germany’s unilateral ban on naked short selling of eurozone sovereign debt instrumentsSource: Financial Times - US homepage | 20 May 2010 | 1:47 am Dubai World in $23.5 billion debt deal with core banksDUBAI (Reuters) - Dubai World, the state-owned conglomerate, has reached a deal in principle to restructure $23.5 billion in debt with the core lenders holding 60 percent of the exposure.
Source: Reuters: Business News | 20 May 2010 | 1:47 am National Grid shares hit by plan to raise $4.9 blnShares in National Grid fell as much as 11% Thursday after the U.K.-based electricity and gas distribution firm announced plans for a 3.3 billion pound ($4.9 billion) share sale to help fund the replacement of ageing infrastructure.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 1:46 am China tells U.S. to put fiscal house in orderBEIJING (Reuters) - Europe's debt crisis has laid bare the fragility of global finances and the United States, too, must tame its fiscal deficit, a senior Chinese official said on Thursday, spelling out Beijing's concerns before talks with Washington.
Source: Reuters: Business News | 20 May 2010 | 1:45 am Asia central banks to delay rate hikes: CitigroupThe European Union’s fiscal troubles have increased the likelihood that most Asian central banks will delay raising interest rates, not just the European Central Bank and the U.S. Federal Reserve.
Source: MarketWatch.com - Top Stories | 20 May 2010 | 1:45 am George Osborne outlines tax plans at CBI dinnerGeorge Osborne has outlined a series of tax plans that will be announced in next month's emergency budget, at a CBI dinner.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 1:44 am Stocks skid on global jittersStocks recovered from deep losses posted earlier in the session but ended lower Wednesday, as investors welcomed the Fed's forecast of an improving economy amid lingering fears about the global economy.Source: Business and financial news - CNNMoney.com | 20 May 2010 | 1:36 am National Grid in £3.2bn cash callGas and electricity network National Grid announces plans for a £3.2bn rights issue as its profits rise to more than £2bn.Source: BBC News | Business | World Edition | 20 May 2010 | 1:32 am National Grid rights issue to raise £3.2bnNational Grid, the British gas and electricity network operator, is to raise £3.2bn in discounted rights issue to strengthen its credit rating and fund increased investment.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 1:20 am Dollar rises in response to BudgetThe New Zealand dollar lifted in response to the Government's budget, particularly against the Australian dollar.The NZ dollar was already improving against a number of currencies before the 2pm announcement, but got a boost immediately...Source: nzherald.co.nz - Business | 20 May 2010 | 1:08 am Osborne eyes corporate tax reformChancellor George Osborne tells the CBI's annual dinner that he is committed to simpler and lower corporate tax rates.Source: BBC News | Business | World Edition | 20 May 2010 | 1:08 am Consumer prices slip 0.1% in AprilConsumer prices in the U.S. fell 0.1% in April as energy, housing, auto and apparel prices declined, the Labor Department reported Wednesday.Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am AIG names former Airbus executive to lead Century City aircraft leasing firmHenri Courpron will be the fourth chief executive of International Lease Finance Corp. in as many months.American International Group Inc. has tapped a former top Airbus official to take the helm of its Century City-based aircraft leasing business, which in recent months has been devastated by executive defections.
Source: L.A. Times - Business | 20 May 2010 | 1:00 am HSBC Bank is accused of helping financier Danny Pang defraud investorsThe lawsuit seeks to recover fees that HSBC received for acting as a cash custodian for Pang's company, PEMGroup, before the SEC shut it down last year. ...Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am One day your pants may power up your iPodUC Berkeley researchers are perfecting microscopic fibers that can make electricity from simple body motions. The nanofibers may soon be woven into clothing, creating the ultimate portable generator.Need juice for a dying iPod? You may soon be able to plug the gadget into a shirt, dance the electric slide and be good to go.
Source: L.A. Times - Business | 20 May 2010 | 1:00 am Low-speed electric vehicles are low-safety, watchdog group warnsChrysler's Gem and the Changan Tiger Star mini-truck fail insurance institute's crash tests on miniature vehicles.They look like souped-up golf carts and are often seen as an environmentally friendly way to get around the neighborhood or go grocery shopping.
Source: L.A. Times - Business | 20 May 2010 | 1:00 am CalPERS retreats on request for more taxpayer fundsThe state pension board wants to study the effects of a hike on the state budget.Facing political fire, the state's largest public pension fund Wednesday retreated for a month from a plan to approve a $700-million increase in taxpayer contributions it gets from the state and about 1,000 school districts.
Source: L.A. Times - Business | 20 May 2010 | 1:00 am American Apparel shares tumble 41% as same-store sales fallThe Los Angeles clothing company says in reporting preliminary first-quarter results that it may have trouble complying with a credit agreement. It posts an operating loss of $17.6 million.Problems are mounting for American Apparel Inc., the popular Los Angeles apparel maker and retailer that has been plagued by debt constraints and weak sales since last year.
Source: L.A. Times - Business | 20 May 2010 | 1:00 am The plot thickens for indie film producersMichael London, whose movies include 'Sideways' and 'Thirteen,' has had to adjust to new realities by offering investors a rational investment with lower costs, smarter movies and better returns.Four years ago, independent producer Michael London, whose credits include the acclaimed films "Sideways," "Thirteen" and "The Family Stone," had no problem raising more than $200 million in financing to make low-cost movies at his newly formed company, Groundswell Productions.
Source: L.A. Times - Business | 20 May 2010 | 1:00 am CalPERS retreats on request for more taxpayer fundsThe state pension board wants to study the effects of a hike on the state budget. Facing political fire, the state's...Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am One day your pants may power up your iPodUC Berkeley researchers are perfecting microscopic fibers that can make electricity from simple body motions. The nanofibers may soon be woven into clothing, creating the ultimate portable generator. ...Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am American Apparel shares tumble 41% as same-store sales fallThe Los Angeles clothing company says in reporting preliminary first-quarter results that it may have trouble complying with a credit agreement. It posts an operating loss of $17.6 million. ...Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am California delinquencies recedePast-due mortgages nationwide reach new highs but the tide may be turning. In 2008, California vied with Florida...Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am Low-speed electric vehicles are low-safety, watchdog group warnsChrysler's Gem and the Changan Tiger Star mini-truck fail insurance institute's crash tests on miniature vehicles. ...Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am The plot thickens for indie film producersMichael London, whose movies include 'Sideways' and 'Thirteen,' has had to adjust to new realities by offering investors a rational investment with lower costs, smarter movies and better returns. ...Source: RSS feed - channel BNPaperBusiness | 20 May 2010 | 1:00 am Business Bullet: Miners, Euro, Lloyds, CairnThe latest news on: Miners, Euro, Lloyds, CairnSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 May 2010 | 12:57 am Market sags even though budget well receivedThe New Zealand sharemarket failed to get a lift from a well received government budget and slipped for a fifth successive session as offshore markets continued to weaken.The benchmark NZX-50 index closed down 10.46 points, or...Source: nzherald.co.nz - Business | 20 May 2010 | 12:27 am Trading systems broke down at firms during "flash crash": report (Reuters)
Source: Yahoo! News: Stock Markets News | 20 May 2010 | 12:01 am Budget 2010: Experts praise tax cuts for allThere's been a largely positive reaction to tax changes announced in today's Budget.The Government today unveiled what it called the biggest overhaul to the New Zealand tax system in 25 years.All personal tax rates will be...Source: nzherald.co.nz - Business | 19 May 2010 | 11:00 pm Blue Chip boss sentenced - but avoids jailAngry Blue Chip investors wanted Mark Bryers behind bars, instead the director of the failed investment company will do 75 hours of community work and pay a fine of $37,500, plus court costs.About 30 investors crammed a small...Source: nzherald.co.nz - Business | 19 May 2010 | 10:25 pm Budget 2010: Business reactsAlasdair Thompson, chief executive of the Employers & Manufacturers Association said the cuts in personal and income tax rates, along with the GST hike made this the fairest Budget in over a decade."Business will welcome the...Source: nzherald.co.nz - Business | 19 May 2010 | 10:25 pm Budget 2010: Property prices may fall because of tax changesProperty prices may fall as a result of today's budget, but it is harder to tell if rents will go up as landlords try to make up for paying more tax on property investments, according to analysts.A surprise in the budget was that...Source: nzherald.co.nz - Business | 19 May 2010 | 10:15 pm Budget 2010: Income tax slashed, GST to 15 pcBudget 2010 is all about tax, with the Government this afternoon unveiling what it says is the biggest overhaul to the New Zealand tax system in 25 years.And it's promising the "vast majority" of New Zealanders will be better...Source: nzherald.co.nz - Business | 19 May 2010 | 10:00 pm Brian Fallow: Decent stimulus in today's BudgetBill English has delivered more of a Budget than the signs and portents led us to expect.It goes further in income tax relief, especially for those earning less than the average wage, and it provides business with a company tax...Source: nzherald.co.nz - Business | 19 May 2010 | 9:30 pm Strong support online for BudgetInitial reactions to today's Budget so far show strong support for the Government's announced income tax cuts.Finance Minister Bill English announced today that income tax will be lowered to give the average earner an extra $15...Source: nzherald.co.nz - Business | 19 May 2010 | 9:29 pm Fran O'Sullivan: Tax changes will keep Kiwis homeKiwis have been sent a clear message to stay home and build their careers here with today's Budget package that will result in New Zealanders paying less tax that Australians once they hit the $50,000 pay rate.New Zealand has...Source: nzherald.co.nz - Business | 19 May 2010 | 8:30 pm Lower inflation welcome news today but may mean big problems aheadThe nation's core inflation rate last month grew at the slowest pace in 44 years, offering good news for shoppers at the checkout counter and a bit more breathing room for policymakers who worry that massive...Source: RSS feed - channel BNPaperBusiness | 19 May 2010 | 8:08 pm Senate fails to end debate on bank reform billWASHINGTON (Reuters) - In a setback for the Obama administration, Senate Democrats failed to muster enough votes on Wednesday to end debate on the biggest overhaul of financial regulation since the 1930s, delaying a vote on passage.
Source: Reuters: Business News | 19 May 2010 | 8:00 pm Jaguar isn't just for fat cats anymoreShunning its heritage of erudite tweediness, the 2011 XJ has been retooled for the young and urban, especially those with a need for speed, style and luxury. ...Source: RSS feed - channel BNPaperBusiness | 19 May 2010 | 7:21 pm Cable offers to take on pension debt in Royal Mail sell-offVince Cable has taken the first steps to part-privatise the Royal Mail in a move that will put the coalition Government on a collision course with the unions. Source: Latest Business News from Times Online | 19 May 2010 | 6:44 pm Hermosa Beach lender pleads guilty to felony mail fraudMary Elaine Perkins, who owned Carlton Financial Enterprises, defrauded 90 investors of about $7 million in a real estate scheme, the U.S. attorney's office says.The owner of a Hermosa Beach loan company has pleaded guilty to a felony mail fraud charge related to a scheme in which she defrauded 90 investors of about $7 million, a spokesman for the U.S. attorney's office said Wednesday.
Source: L.A. Times - Business | 19 May 2010 | 6:12 pm Big Pharma Makes More Money On Kids, Use Of Medications Among The Young RisesThe pharmaceutical industry has found a growing source of sales–the prescription of medicines, primarily used by adults in the past, to children. A portion of the sharp increase in drugs used by children last year was due to H1N1 doses. But, the majority of the “improvement” in sales was because children are being treated for [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 19 May 2010 | 6:10 pm Lower inflation welcome news today but may mean big problems aheadThe nation's core inflation rate last month grew at the slowest pace in 44 years, offering good news for shoppers at the checkout counter and a bit more breathing room for policymakers who worry that massive government efforts to spur the economy could trigger higher prices.
Source: L.A. Times - Business | 19 May 2010 | 6:08 pm Google debates face recognition technologyGoogle executives are wrestling over whether to launch controversial facial recognition technology after a barrage of criticism over its privacy policiesSource: Financial Times - US homepage | 19 May 2010 | 6:02 pm Labour peer Lord Davies rejects Lloyds approachThe leadership of Lloyds Banking Group is again in question after it emerged that Lord Davies of Abersoch had been approached about becoming its next chief executive. Source: Latest Business News from Times Online | 19 May 2010 | 6:01 pm The Chancellor’s task will get more taxingLast night was a big event for the new Chancellor. In his first post-election set piece, George Osborne was addressing a slightly nervous business audience. He had not made a very good impression on business in opposition. And the corporate world has been unsettled by the compromises made to cement the deal with the Liberal Democrats. Source: Latest Business News from Times Online | 19 May 2010 | 6:01 pm General Growth shakes up managersNEW YORK (Reuters) - Mall owner General Growth said on Wednesday it has replaced some of its managers, in a sign that its focus has switched from exiting bankruptcy to beefing up operations.
Source: Reuters: Business News | 19 May 2010 | 5:32 pm Jaguar isn't just for fat cats anymoreShunning its heritage of erudite tweediness, the 2011 XJ has been retooled for the young and urban, especially those with a need for speed, style and luxury.For decades, Jaguar traded in a sort of erudite tweediness, appealing to status-conscious epicureans who wanted to flaunt their success.
Source: L.A. Times - Business | 19 May 2010 | 5:21 pm Democrats delay US reform legislationDemocrats in the Senate failed to amass enough votes from their own party to overcome the last big hurdle to financial regulatory reformSource: Financial Times - US homepage | 19 May 2010 | 5:11 pm GE CEO expects word on dividend rise this yearBOSTON (Reuters) - General Electric Co expects to tell shareholders by the end of this year it is ready to raise its dividend as well as resume share buybacks, and return to profit growth in 2010, its CEO said.
Source: Reuters: Business News | 19 May 2010 | 5:04 pm Senate vote stalls overhaul of financial regulationsDemocratic leaders fail to get the 60 votes needed to end debate and push the legislation to a final vote amid concerns from two in their own party and widespread Republican opposition.Attempts to pass a sweeping overhaul of financial regulations stalled in the Senate as a key procedural vote failed Wednesday because of near-unanimous Republican opposition and concerns from two Democrats that the legislation was not tough enough on Wall Street.
Source: L.A. Times - Business | 19 May 2010 | 4:57 pm You Put Together A Magazine In Two Days. That Doesn't Mean You Can Call It '48 HR'
By Jacob Goldstein Here's another dispatch from the trademark wars: A bunch of West Coast media types had this idea to make a whole magazine in a weekend. Here's how they explained their quest: Issue Zero begins May 7th. We'll unveil a theme and you'll have 24 hours to produce and submit your work. We'll take the next 24 to snip, mash and gild it. The end results will be a shiny website and a beautiful glossy paper magazine, delivered right to your old-fashioned mailbox. We promise it will be insane. Better yet, it might even work. They did it -- hashed through the submissions, did all the editing and layout and everything. They called their magazine "48 HR." The theme of the first issue was "hustle." That's the cover up there. Then -- about 48 hours after the magazine came out -- they got a cease and desist letter from CBS, informing them that the name of their magazine "is unlawful and constitutes trademark infringement." Remember that CBS show "48 Hours"? Right, this is about that. Now the 48 HR people have a lawyer who is helping them pro bono. And CBS's general counsel tells the NYT that the network wants to make a deal. "We would like to work something out, but they'd have to be in touch for that to happen," the exec said. "Then we can begin talking and negotiating." In the meantime, the magazine's Web site is still up. But they've also launched has48hrmagbeenshutdown.com, just in case. Also, if you happen to be in the neighborhood, they're having an issue release party in San Francisco tonight. For more Planet Money trademark coverage, listen to our podcast about our efforts to trademark Money Honey, and read our blog post on Subway's push to trademark "footlong" sandwiches. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 May 2010 | 4:55 pm Summary Box: Stocks fall on more Europe concerns (AP)AP - ANOTHER DROP: The Dow Jones industrial average fell 67 points Wednesday, adding to a loss of 115 on Tuesday. Investors remain concerned that debt problems in Europe will spread and unravel a global recovery.Source: Yahoo! News: Stock Markets News | 19 May 2010 | 4:27 pm Stocks slump after investors focus on Europe woes (AP)
Source: Yahoo! News: Stock Markets News | 19 May 2010 | 4:20 pm Write-Offs: 05.19.10
$$$ Reid loses cloture vote on financial regulation [WaPo] $$$ Goldman Sachs Made Me Feel Special [Forbes] $$$ Goldman’s New Critics: Hedge Funds [CNBC] $$$ Internet Gambling Debate Rages on Capitol Hill [ABC] $$$ Billionaire Sex Offender Jeffrey Epstein Sued Over $2 Million in Fees for Victims’ Attorneys [NYLJ] $$$ The Breaking Of Lucas Van Praag [Daily Intel] 
 Source: Dealbreaker | 19 May 2010 | 4:07 pm Privacy for FacebookSource: Business and financial news - CNNMoney.com | 19 May 2010 | 4:03 pm Asian sovereign wealth funds target US shale gasThe sovereign wealth funds of China and South Korea are set to lead a $900m investment in a leading US producer of natural gas from shale rock, becoming the latest Asia-based groups to focus on the sectorSource: Financial Times - US homepage | 19 May 2010 | 4:01 pm Ex-Merrill Broker Who Ripped Off $780,000 From Bank Pleads Guilty, Frauds Everywhere Weep For Loss Merrill’s Mensa Members
Yeah! That’s exactly what happened! Wild, isn’t it?
Phony shmony who cares the point is they bought it and in turn, the brain trust loaned him Mandala the 780 grand as “an incentive.” An incentive for what? To “frequently” fail to show up for work, only bring in two or three clients and then resign via e-mail so he could devote more time to scamming his girlfriend’s father’s credit card, which required a bit more attention than taking ML for a ride (anyone could do that). Broker Who Stole $780,000 From Merrill Pleads Guilty [BW]
Source: Dealbreaker | 19 May 2010 | 3:45 pm Traders put faith in 'circuit breakers' after dive (AP)
Source: Yahoo! News: Stock Markets News | 19 May 2010 | 3:42 pm How the major stock indexes fared on Wednesday (AP)AP - Another wave of selling hit stocks Wednesday in response to growing fears that Europe has no quick fix for its debt crisis. The Dow Jones industrial average fell about 67 points after having been down as much as 186. It was the Dow's ninth drop in 12 days. The Standard & Poor's 500 index neared a 10 percent drop from the 2010 trading high it reached last month.Source: Yahoo! News: Stock Markets News | 19 May 2010 | 3:24 pm UBS Trader Pleads Guilty in Massive Bid Rigging Scandal
Mark Zaino, a former UBS trader who worked on the firm’s derivatives and municipal securities desk, pleaded guilty to fraud and conspiracy charges today in the wide-ranging investigation into sham auctions and bid rigging in financial products sold to municipalities. Zaino is the first banker to plead guilty to charges and he has agreed to cooperate with investigators. Another banker at Bank of America, who participated in the massive bid-rigging scheme, is also providing information to the Feds about the scam. The alleged conspiracy centered around so-called guaranteed investment contracts, or GICs, which acted like certificates of deposit for the cash raised from municipal bond offerings. The interest rates on GICs aren’t published so governments were mandated to put the contracts out for competitive bidding. They hired small advisory firms to run the auctions to get the highest interest rates. The auctions appear to have been rigged, according to indictments against one of the advisory firms, CDR Financial Products. The charges against CDR claim the firm told over a dozen big banks that sell GICs including JPMorgan, UBS, Lehman Brothers, Wachovia, Bank of America and Citigroup, how to lowball their bids to win business from the state and local governments. The banks, in turn, paid kickbacks to CDR.
Source: Dealbreaker | 19 May 2010 | 3:23 pm Global Cycles, Europe’s Bargains, Real Estate: Taking StockSource: Bloomberg - All Podcasts | 19 May 2010 | 3:19 pm Stocks and ETFs Take Another Hit (Daily ETF Wrap-Up)Losses are muted from session lows, but indexes end down again.
Source: SmartMoney.com | 19 May 2010 | 3:13 pm Raise our taxes, please!Like a lot of states, revenue in Arizona is down, and huge cuts are on the table, but voters there have chosen a remedy: raising taxes. Jeff Horwich reports.Source: Marketplace | 19 May 2010 | 3:12 pm Dividend Hike Onslaught (ACE, CLX, DPS, NOC, SWY, XEL)It felt like the pace of dividend hikes was slowing down. Wrong. There were at least six big hikes today that came from the likes of ACE Limited (NYSE: ACE), Clorox Company (NYSE: CLX), Dr. Pepper Snapple Group, Inc. (NYSE: DPS), Northrop Grumman Corporation (NYSE: NOC), Safeway Inc. (NYSE: SWY), and Xcel Energy Inc. (NYSE: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 19 May 2010 | 3:09 pm BP plc Liability Rises As Oil Moves EastThe BP plc (NYSE: BP) Deepwater Horizon spill is quickly moving east. The NOAA now reports what a number of scientists have already said–the oil slick will move into powerful currents that flow toward Florida. The currents are referred to as the Loop The NOAA reports: The Loop Current is an area of warm water [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 19 May 2010 | 3:08 pm $59 billion here, $300 billion there ...Congress is finally close to checking Wall Street reform off its to-do list. Then it will turn to a bevy of spending and tax measures. Individually, the measures may not inspire sticker shock, but together they add up.Source: Business and financial news - CNNMoney.com | 19 May 2010 | 2:54 pm Fraud Claim Against Tribune: Bloomberg Law Bankruptcy ReviewSource: Bloomberg - All Podcasts | 19 May 2010 | 2:34 pm Google invades Palm OSSeth Weintraub covers the minute-by-minute happenings at the Google I/O conference today and tomorrow.Source: Business and financial news - CNNMoney.com | 19 May 2010 | 2:30 pm Stock Losses Moderate at Close (Market Update)Indexes slip. European exchanges slide. Fed says crisis disrupting recovery.
Source: SmartMoney.com | 19 May 2010 | 2:21 pm Rare Earth Metals Getting Attention in China and US (CVX, CEO, SI, GE)On April 19th, Molycorp, Inc., a privately held company, filed with the US SEC for an IPO. The company did not say how many shares would be offered nor did it indicate an IPO price range. It did say that it would use the proceeds of the offering to modernize and expand its Mountain Pass, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 19 May 2010 | 2:07 pm Macy's Raised to `Buy,' Under Armour Cut to `Sell': AudioSource: Bloomberg - All Podcasts | 19 May 2010 | 2:05 pm Highbridge, York Capital Cutting Risk Dramatically
“We are seeing massive de-risking and de-leveraging,” Dubin’s told CNBC’s David Faber. He also called Germany’s move to ban bearish bets on certain European debt and financial stocks “ill-advised.” As for the Volcker rule, which would affect the JPMorgan-owned Highbridge, Dubin said he disagreed with its premise because financial the business is not too big to fail and, therefore, not in jeopardy being bailed out by taxpayers.
Jamie Dinan of York Capital, also at the SkyBridge conference, told Faber his firm is taking risk off the table. “We don’t usually try to overreact to external stimuli, unfortunately the stuff around here right now is more than just noise.” It also doesn’t help that Germany “just doesn’t seem to get it.” York is increasing its hedges in equities and taking risk off in its credit portfolio, Dinan said.
Source: Dealbreaker | 19 May 2010 | 2:01 pm Presented By:Source: Dealbreaker | 19 May 2010 | 2:01 pm US state pensions becoming federal issueBy 2030, as many as 31 states may not have the money to pay pensions. And, if these funds exhaust their assets, the size of payments for the benefits they have promised will be too large to cover through taxes, putting pressure on the federal government for a bail-out that could potentially cost more than $1,000bnSource: Financial Times - US homepage | 19 May 2010 | 1:44 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Wednesday:Source: Yahoo! News: Stock Markets News | 19 May 2010 | 1:29 pm Mandy Drury Is “Absolutely” Going To Consider Coming On Our Field Trip To Stamford
Do you prefer to be called Mandy or Amanda? Let’s just get the crushing of Wall Street’s dreams over with– are you single? This is going to kill them. Kids? How’d they take the move from down under? You did a lot of filling in for CNBC stateside starting last summer but didn’t officially make the move from CNBC Asia until May 10. Interesting timing, in that Charlie Gasparino by that time was safely divorced from the network and signed with Fox Business. Did you finally make the move knowing you wouldn’t be assaulted by the scent of Drakkoir Noir? Are you enjoying Trish Regan and Larry Kudlow? Have you socialized with them off the clock yet? Let’s get down to business- Vikram Pandit, Jamie Dimon, Lloyd Blankfein. Who do you pick for your drinking game team, who has your back walking down a dark alley, who manages your money? Okay, just this once. Yeah it would. But back to the scenarios….focus. It’s Jamie. Beelzebub. Lloyd. Yeah! You’re fun, you’re the life of the party. I’ve been told Jamie Dimon has never done a keg stand. Something he needs to cross off the list. Just passing on information. Anyway, your Shiraz– who are you sipping that with? Gorman it is. I hope he calls you after this. Do you pick out your own clothes to wear on-air or is there a CNBC wardrobe department? Let’s play word association. Goldman Sachs. Jamie Dimon. Handbridge. Oh it’s like this sort of temporary construction designed to narrow the distance between two bodies on either side of a channel– you know what, we can talk about it some other time…Where have you been hanging out? Any favorite spots yet? Do you read Dealbreaker? Do you read the comments? I announced a while back that there’s going to be a DealBreaker field trip to Beamer’s, Stamford’s premiere strip club. If you haven’t heard of it its cultural relevance to Wall Street North cannot be overstated. I got busy and it got put off but it really needs to happen in the next couple weeks. Are you coming with us?
Source: Dealbreaker | 19 May 2010 | 1:20 pm Can Solar Energy Create 200,000 U.S. Jobs? (AMSC, CSIQ, STP, TSL, YGE)200,000 jobs… That is the new ‘independent study’ estimate on how many jobs can be created by the solar industry by the year 2016. The Solar Energy Industries Association is touting this figure today. American Superconductor Corporation (NASDAQ: AMSC), Canadian Solar Inc. (NASDAQ: CSIQ), Suntech Power Co. (NYSE: STP), Trina Solar Limited (NYSE: TSL), and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 19 May 2010 | 1:02 pm KFC’s Chicken Sans Bun Sandwich Given Extended Run
KFC’s Double Down Bet Pays Off [MSNBC] Related: First KFC Double Down Challenge Of The Season: UNDER WAY
Source: Dealbreaker | 19 May 2010 | 1:00 pm The life of a delta diver"Delta Divers" is a two-part special airing on the National Geographic Channel tonight that chronicles the lives of commercial divers. Tess Vigeland talks with producer Scott B, along with John Mosier, who for 20 years worked as a commercial diver.Source: Marketplace | 19 May 2010 | 12:56 pm May Proving to Be a Tough Month for Tiger Cubs
We’ve also been told that Shumway Capital Partners, another Tiger Cub that recently sold a stake to Goldman Sachs, is down 2.5 percent this month. Obviously, the markets have been in free fall so the downturn could be hitting funds across the board. Meanwhile, Elliot Associates, the distressed debt firm run by Paul Singer, was up 4.9 percent for the first-quarter, according to its latest investor letter.
Source: Dealbreaker | 19 May 2010 | 12:46 pm National Employee Morale Day At H&R BlockTroubled tax return company H&R Block (NYSE: HRB) said today that it would lay-off 400 people. The firm will also close 400 “under-performing” offices. H&R said the moves would save $140 million to $150 million in operating expenses in the next year. Oddly enough, at the same time, the company said it would pay its [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 19 May 2010 | 12:39 pm Two Key Questions On Finance ReformBy Jacob Goldstein The Senate's making noises like it's almost done with the big finance-reform bill; a vote to end debate is scheduled for later today. But some important details are still pretty murky. One area that's still in play is reform of derivatives, financial tools that businesses can use either to protect themselves against risk, or to make financial bets. Derivatives played a central role in the financial crisis, because they allowed companies to take on lots of risk without setting aside cash to protect themselves against potential losses. The Senate bill is certain to change the derivatives landscape. But there's lots of last-minute jockeying over just what the new landscape will look like. Here are two central questions that are still unanswered: 1. Will banks get to stay in the derivatives business? The nation's biggest banks are also the biggest players in the derivatives business. The current bill would require banks to spin off their derivatives-trading businesses into separate units. The idea is to move the risk associated with derivatives away from banks. Banks, which make lots of money selling derivatives contracts, have argued that this would make it harder for them to serve their customers. Opponents have also said that the measure could push the derivatives business overseas, to markets where there's less regulation. Chris Dodd on Tuesday introduced an amendment that would likely have allowed banks to keep their derivatives desks. But the WSJ is reporting this afternoon that Dodd will abandon the amendment. 2. How many exemptions will there be? Derivatives are now traded "over the counter." That basically means that one banker calls another, and they make a deal. The bill would require derivatives to be traded through a central clearinghouse, with prices posted on an exchange. The clearinghouse would guarantee trades, so if one party to a deal went bankrupt, the other party wouldn't have to take a loss. The exchange would mean that the prices of derivatives would be more transparent. But some businesses that use derivatives to hedge risk, rather than to make financial bets, have said they should be exempt from the new rules. Under the current bill, about 10 percent of derivatives trades would be exempted from the new rules, according to Michael Greenberger, a University of Maryland law professor and derivatives expert who has discussed the bill with some Senate Democrats. But last-minute deal-making in the Senate could vastly expand the exemption, to cover as much as 60 percent of trades, Greenberger told me. For more on derivatives reform, see editorials from this morning's New York Times, which discusses some of the unanswered derivatives questions, and Wall Street Journal, which looks at what would happen if the derivatives clearinghouse ran out of money. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 May 2010 | 12:10 pm Ex-Trader Who Wrote Of Boss’s Attempts To Literally And Figuratively Screw Her Now Accusing Him Of Sending Her Hate Mail
Because Mel felt “blessed to be able to play the sex card” and her bottom line was her “overwhelming preoccupation with procuring a fat bonus check,” she responded in kind to “Carl” and one thing led to another and there she was, several texts later, telling him to put on “some hardcore porn” while he waited for her in his hotel room. She got all the way there and then decided to turn around and not sleep with him, which resulted in Carl fucking in the end by giving her a $65,000 bonus, which Mel felt was “at least $35,000 too low” and “mocked her.” Still, what comforted girlfriend was the realization that everyone on Wall Street is a whore, and that there’s really no difference between people who don’t have sex with their bosses at the W than people who do. Her story, Mel says, was in no way about revenge on “Carl,” and she maintains she “did enough to shroud his identity.” Unfortunately, there was rampant speculation as to who he was and, Mel admits, a whole bunch of people got it right. Awkward! Which is why she feels pretty sure saying now that “Carl” is the guy sending her hate mail, via her parents.
Source: Dealbreaker | 19 May 2010 | 12:03 pm Paul Volcker, Dr. John Shoven, John Taylor: On the EconomySource: Bloomberg - All Podcasts | 19 May 2010 | 11:40 am O’Neill, Levitt, Holland, Kass: Bloomberg SurveillanceSource: Bloomberg - All Podcasts | 19 May 2010 | 11:39 am A history of in-flight foodRico Gagliano gives a brief history of the rise -- and fall -- of in-flight food, given Continental's recent announcement that it, too, will join the no-food-for-you club.Source: Marketplace | 19 May 2010 | 11:24 am A social network for tots and 'tweensEveryone, it seems, has a Facebook account, and thanks to a new site that just launched, even toddlers can get into the social-networking game. Eve Troeh reports.Source: Marketplace | 19 May 2010 | 11:24 am Pay teachers, not hedge-fund managersThere's a little-known tax loophole that should, and just might, be closed, says commentator Robert Reich, thanks to the fury over Wall Street.Source: Marketplace | 19 May 2010 | 11:24 am Is a drop in oil prices good news?Don't look now, but oil prices are suddenly slipping. Bob Moon reports on whether this is cause for celebration or worry.Source: Marketplace | 19 May 2010 | 11:23 am Protecting taxpayers from derivativesThe Senate is still wrestling over key aspects of the financial overhaul bill, and one sticking point comes in the form of derivatives. Nancy Marshall Genzer reports.Source: Marketplace | 19 May 2010 | 11:23 am Stock Picks: Hewlett-Packard Up, Apple Down (Market Movers)An upgrade does little for Apple, but Hewlett-Packard rises on earnings.
Source: SmartMoney.com | 19 May 2010 | 10:53 am Bachus to Call for Investigation into Shorebank Rescue
Shorebank, a Chicago institution with close ties to the Obama Administration, was rescued with a $125 million bailout from Goldman Sachs, JPMorgan, GE Capital, Citigroup and other big banks. Bachus believes there was some pressure by the administration to bail out the lender, even though several banks had stepped away from the deal over the weekend. Not surprisingly, Obama’s peeps have denied they were involved.
Source: Dealbreaker | 19 May 2010 | 10:29 am Lest You Forget How Big the Oil Spill Is…Here’s NASA’s latest picture. An independent NPR investigation found that the Gulf oil spill is already bigger than Exxon Valdez. Scientists said that the spill could be up to 100,000 barrels per day. BP, meanwhile, says there is no way to measure the size of the spill.
Source: Business Pundit | 19 May 2010 | 9:30 am Central World, E. Asia’s 2nd Biggest Mall, Burns After Riots
Central World, East Asia’s second biggest shopping mall, is on fire after a series of Red Shirt arson attacks. The Red Shirts, also known as the National United Front of Democracy Against Dictatorship (UDD), set fire to the mall after a military crackdown. The AP has more: An AP photographer saw rioters looting the mall, which is adjacent to the anti-government protest site cleared earlier Wednesday by troops. There was no apparent effort to bring the fire under control. It was one of multiple arson attacks in the city after the crackdown. Local media quoted the city governor as saying he would not deploy firetrucks fearing they would be attacked. National police spokesman Lieutenant General Pongsapat Pongcharoen said the first three floors of the multi-storey building had been gutted and that the fire continued to rage, though nobody was inside. The offices of TV station Channel 3 and the Siam Theatre cinema were also ablaze. The fire department spokesman said many Bangkok Bank branches were on fire. The bank has been targeted in the past by anti-government protesters who suspect it of financing rival groups. The Red Shirts claim that Abhisit Vejjajiva, Thailand’s Prime Minister, took power without popular consent. They want the Thai Parliament dissolved and a re-election held. So they set fire to Thailand’s equivalent of the Mall of America, as well as several banks. I’m not sure whether stilting the local retail economy is the best way to promote change. But if attention is what they wanted, they have it.
Source: Business Pundit | 19 May 2010 | 9:24 am Harvard Student’s Fake Resume Got Him $45,000 in Grants, Scholarships
23-year-old Adam Wheeler got into Harvard with an impressive list of accomplishments. They included a 1600 SAT score, writing books, and speaking four languages, including Old Persian. His impressive resume netted him $45,000 in grants and scholarships. But it was all a lie. Wheeler had successfully entered and almost graduated Harvard based on fake achievements and forged documents. When Wheeler applied for a past-graduate scholarship, he thought he could continue to fake and forge his way through. But authorities caught him. WCVB Boston describes the story: “They discovered during the application process that two letters of recommendation that he submitted for the Rhodes scholarship and the Fulbright scholarship were either altered or forged or changed entirely,” said Middlesex County Assistant District Attorney John Verner. There were other fabrications on Wheeler’s resume. He said he had attended Phillips Andover Academy and the Massachusetts Institute of Technology, when in reality he had attended Bowdoin College before being suspended after two years for alleged academic dishonesty. It was at that point, prosecutors said, that he applied to and entered Harvard after inventing a stellar academic career record. Wheeler was allegedly poised to leave Harvard for Yale University under similar circumstances last fall, when his parents intervened after receiving a call on his application to the New Haven school. In that application, prosecutors said, Wheeler claimed employment at McLean Hospital. It also included phony recommendations from a hospital employee and his Harvard dean. Now, Wheeler is facing up to 50 years in prison on 20 counts of larceny and identity fraud. Neither he nor his parents had any comment to make after his arraignment Tuesday, his attorney Steven Sussman saying only that Wheeler would have his day in court. If anyone needs to keep an eye on this guy, it’s the police. Wheeler would make an excellent organized crime recruit. He’s obviously very good at what he does, and I doubt he’ll stop doing it anytime soon.
Source: Business Pundit | 19 May 2010 | 8:55 am Arizona's Immigration Law and Its Colleges (Education and Your Money)The new law is having an impact on Arizona's college students.
Source: SmartMoney.com | 19 May 2010 | 8:55 am Withdraw From Your IRA -- Penalty-Free (The Tax Guy)Need to take an IRA withdrawal before age 59 1/2? What you need to know.
Source: SmartMoney.com | 19 May 2010 | 8:52 am Circuit Breakers For Everybody!By Jacob Goldstein It's still not exactly clear why the stock market took a huge dive and staged a huge recovery, all within the span of a few minutes on May 6, according to a new report from the feds. But the SEC has a few ideas. And the regulator wants to test out a new system that may make that kind of superfast plunge (or spike) less likely. The May 6 "flash crash" likely had something to do with the highly fragmented nature of the modern stock market where trades can be executed on any of several exchanges, most of which are purely electronic. In particular, as we noted in a podcast and blog post a few weeks back, the New York Stock Exchange has "circuit breakers" that slow trading on individual stocks that have fallen sharply. But other exchanges don't have those. On May 6, when the NYSE circuit breakers kicked in for certain stocks, trades for those stocks were routed to other exchanges. That may have been one important factor that led to brief, huge price swings for some socks. So the SEC wants to test out a uniform system where all the exchanges would stop trades for any stock that loses or gains 10 percent in five minutes. After a five minute pause, trading would resume. (Update: As a commenter points out below, the system would apply only to stocks in the S&P 500, a broad index of the largest publicly traded U.S. companies.) Because so much stock trading is automated, the pause would give humans an opportunity to step in and override pre-programmed trade orders. Stock-exchange execs like the idea, the WSJ says. "This is meant to prevent a stock trading at $40 one minute, a penny the next, and $39 the next minute," the chief executive of the electronic stock-trading platform Direct Edge told the WSJ. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 19 May 2010 | 8:21 am Dumas on U.K.'s Elections, Keeble on Greece: First WordSource: Bloomberg - All Podcasts | 19 May 2010 | 7:59 am CBOE Had Largest ETF Derivative Trading in April: AudioSource: Bloomberg - All Podcasts | 19 May 2010 | 7:43 am Who's Betting Against The European Dream?By Jacob Goldstein Lots more action in Europe today. Germany's ban on certain forms of short selling, announced just yesterday, went into effect this morning. Other EU nations seemed surprised by the move, and said they weren't about to follow Germany's lead. The euro fell some more. (The German ban, by the way, prohibits some "naked short selling" -- something Alex Blumberg explained at length back in 2008.) Meanwhile, some of the hedge funds that profited from the collapse of the U.S. housing boom are now betting that there will be more trouble in Europe. "The EU and the IMF effectively went all-in with a bad hand in the highest stakes game of financial poker ever played with the world," Kyle Bass, head of Hayman Advisors, wrote in a letter to clients last week, Bloomberg News reports. Bass's fund made $500 million in 2007 on the subprime collapse, Bloomberg says. Nick Swenson, who manages a fund called Groveland Capital, started buying credit-default swaps on Spanish, Italian and Irish debt in March. He thinks the market is underestimating the chances that those countries will default on their debt. "It's asymmetric -- it reminds me of the subprime trade," he told Bloomberg. And Gennaro Pucci, who runs the Matrix PVE Global Credit fund, argues that the European bailout doesn't fix the underlying debt problems faced by many EU countries. "We're in the aftermath of a financial crisis," he said. "It's not unusual for sovereign debt to explode." But perhaps the most famous fund manager to profit from the subprime trade -- John Paulson -- is less pessimistic. In a recent conference call with investors, Paulson called Europe's debt problems "manageable," Bloomberg says. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 May 2010 | 7:04 am Study: People Subconsciously Plan Impulse Buys
A new Baylor University study has found that people subconsciously set aside money for impulse buys when preparing a shopping list. Such “in-store slack” allows consumers to pick up items they may have forgotten to write on the list (or are craving, but didn’t write). The Economic Times has more: For their study, the researchers questioned shoppers at several grocery stores in Texas. They were asked about the items they planned to purchase, how much they expected to spend on these items and how much they expected their total bill to come to. After shopping, the volunteers provided their receipts and answered questions about themselves and the experience. The researchers found that more than three-quarters had set aside cash for items that weren’t on their list. Reasons given for deviating from their shopping list included ‘forgotten needs’ and ‘unplanned wants’ — things they had not realised they would need. Others had actually factored in cash for impulse buys, according to the findings published in the Journal of Consumer Research. Wakefield said: “Highly impulsive individuals may want to consider planning as many purchases in advance as possible.” In other words, those who lack willpower should write very detailed shopping lists. Dieters should also make lists with care, he advised. The researchers also advised supermarkets to try to tempt customers into as many aisles as possible, in an effort to get them to blow their mental budget.
Source: Business Pundit | 19 May 2010 | 7:01 am SEC to Exchanges: The Trade Stops Here (Market Update)WHAT'S HAPPENING NOW: Regulators' plan to pause trading wins support from major exchanges.
Source: SmartMoney.com | 19 May 2010 | 4:59 am No BS Stage Management
Source: Business Pundit | 19 May 2010 | 4:55 am 3 Stocks With P/E Ratios in Single Digits (Screens)Hough: These companies trade at a deep discount to the broad U.S. market.
Source: SmartMoney.com | 19 May 2010 | 3:01 am
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