World stocks up, but traders wary on Europe, Korea (AP)

Trader Kenneth Polcari, left, uses a phone post on the floor of the New York Stock Exchange Tuesday, May 25, 2010. (AP Photo/Richard Drew)AP - World stock markets rebounded Wednesday following steep losses the previous day, but sentiment remained fragile amid fears Europe's debt crisis could hamper global economic growth.



Source: Yahoo! News: Stock Markets News | 26 May 2010 | 4:18 am

World stocks up, but traders wary on Europe, Korea (AP)

Trader Kenneth Polcari, left, uses a phone post on the floor of the New York Stock Exchange Tuesday, May 25, 2010. (AP Photo/Richard Drew)AP - World stock markets rebounded Wednesday following steep losses the previous day, but sentiment remained fragile amid fears Europe's debt crisis could hamper global economic growth.



Source: Yahoo! News: Business News | 26 May 2010 | 4:18 am

Buffett’s Biggest Upside Stocks, Summer 2010 (BRK-A, AXP, BAC, CMCSA, XOM, GCI, GE, IRM, MCO, SNY, WFC, WLP)

Warren Buffett does not have the same time frame as most investors.  How many of you buy with a “forever” outlook?  Buffett says he likes that term, short of whether he sees fundamental changes that wreck the forever thesis.  Berkshire Hathaway Inc. (NYSE: BRK-A) disclosed its latest full public equity portfolio a week ago and [...]

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Source: 24/7 Wall St. | 26 May 2010 | 4:14 am

World heads for 4.75% growth, debt a threat: OECD (AFP)

Indian workers assemble a Maxximo mini-truck at the newly-inaugurated Mahindra India plant at Chakan. The global economy is heading for 4.75-percent growth this year and next, thanks largely to emerging markets, and beating growth rates before the global downturn, the OECD said(AFP/File/Sajjad Hussain)AFP - The global economy is heading for 4.75-percent growth this year and next, thanks largely to emerging markets, and beating growth rates before the global downturn, the OECD said on Wednesday.



Source: Yahoo! News: Business News | 26 May 2010 | 4:11 am

OECD Sharply Upgrades Global Economic Forecasts

The Organization for Economic Co-Operation and Development upgraded its outlook for worldwide economic growth. The agency said “Gross domestic product (GDP) across OECD countries is projected to rise by 2.7% this year and by 2.8% in 2011. These are upward revisions from the previous, November 2009, forecasts of OECD-wide GDP growth of 1.9% in 2010 [...]

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Source: 24/7 Wall St. | 26 May 2010 | 4:08 am

World stocks attempt recovery (AFP)

People walk alongside a TV screen displaying European stock markets information in a street of Paris. Global stock markets staged a recovery on Wednesday as many investors went bargain hunting after huge recent falls but gains were capped by eurozone and Korea concerns.(AFP/Thomas Coex)AFP - Global stock markets staged a recovery on Wednesday as many investors went bargain hunting after huge recent falls but gains were capped by eurozone and Korea concerns.



Source: Yahoo! News: Stock Markets News | 26 May 2010 | 4:07 am

Debt threat to eurozone recovery

The eurozone must overhaul the management of its economy to ensure recovery and the survival of the euro, the OECD warns.
Source: BBC News | Business | World Edition | 26 May 2010 | 4:07 am

OECD raises global growth forecast due to Asia

PARIS (Reuters) - The global economy is recovering faster than expected from recession with Asia leading the way, but it is at risk from huge debts in developed countries and possible overheating in countries such as China, the OECD said on Wednesday.



Source: Reuters: Business News | 26 May 2010 | 4:07 am

Fresh blood at T-Mobile USA as CEO steps down

T-Mobile USA says its chief executive, Robert Dotson, will leave the company in 2011.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 4:07 am

Indications: U.S. futures point to bounce before durables data

U.S. stock futures trade higher Wednesday ahead of data on durable-goods orders as the debate on whether the economic rebound is set to extend or abruptly end continues.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 4:06 am

Pyongyang expels South Korean officials

North Korea expells eight South Korean officials from a special manufacturing zone located within its territory on Wednesday, and threatens to seal border access, a move that would shut down the last active border point and an important foreign income earner for Pyongyang.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 4:02 am

Gulf's $234 billion economy at risk

The numbers being batted around when it comes to how much the oil spill will ultimately cost BP and the local Gulf of Mexico economies are huge. $3 billion. $14 billion. One politician put it at over $100 billion.
Source: Business and financial news - CNNMoney.com | 26 May 2010 | 4:01 am

Cops getting pink slips

Better hope your car isn't stolen or your home burglarized in Huntington Beach, Calif.
Source: Business and financial news - CNNMoney.com | 26 May 2010 | 4:01 am

Earnings Watch: Updates, advisories and surprises

A roundup of the latest corporate earnings reports and what companies are saying about future quarters.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 4:01 am

Palisade Systems Partners with Alliance Technologies for Managed Data Loss Prevention Solution


Source: RSS feed - channel BNewsBusiness | 26 May 2010 | 4:00 am

Spring mortgage lending 'subdued'

Little sign of traditional "spring bounce" as figures from leading UK banks show mortgage lending remained subdued in April.
Source: BBC News | Business | World Edition | 26 May 2010 | 3:59 am

Nationwide to cut jobs as profits dive

Nationwide Building Society said that annual profits almost halved as historic low interest rates continued to hit its results.


Source: Latest Business News from Times Online | 26 May 2010 | 3:58 am

Short term, oil spill means mini job boom in Gulf (AP)

FILE - In this May 2, 2010 file photo, John Rahim, boom deployment coordinator for St. Bernard Parish, enlists out of work fishermen to be hired to lay oil booms to protect their fishing grounds in preparation for the looming oil spill from the sinking of the Deepwater Horizon oil rig in Hopedale, La. A BP spokesman said the company has hired more than 20,000 people as part of the response to the April 20 accident and its aftermath. (AP Photo/Gerald Herbert, File)AP - Much as he hates to say it, Mark Leonard knows it's true: The oil spill that is fouling the Gulf of Mexico may save his family's business.



Source: Yahoo! News: Business News | 26 May 2010 | 3:55 am

World markets rebound after falls

Global stock markets bounce back on Wednesday after heavy losses the previous day, with Asia leading the recovery.
Source: BBC News | Business | World Edition | 26 May 2010 | 3:55 am

New benefit system labelled unfit

A new benefits system aiming to end the sicknote culture leaves some without money they are entitled to, BBC Scotland finds.
Source: BBC News | Business | World Edition | 26 May 2010 | 3:54 am

Seoul, Hong Kong pace Asian stock rebound

Asian markets end higher Wednesday after a late-session recovery on Wall Street helps whet investors' appetite for stocks



Source: MarketWatch.com - Top Stories | 26 May 2010 | 3:52 am

Numbers crunched

Who is most in debt? Where is unemployment soaring? Find out in our eurozone crisis guide
Source: BBC News | Business | World Edition | 26 May 2010 | 3:49 am

BT preparing for possible strike

BT prepares for a possible strike as a union plans to ballot staff over pay and the firm confirms a £1m bonus for its boss.
Source: BBC News | Business | World Edition | 26 May 2010 | 3:43 am

Traders await details of Italy's $30B budget cuts

Financial market participants are reserving judgment on the Italian government’s plan to cut its budget deficit by 24 billion euros ($29.5 billion) over two years as the nation becomes the latest in a line of euro-zone nations attempting to shore up its fiscal position amid mounting sovereign debt concerns.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 3:40 am

Server Sales Surge As HP Pushes IBM From No.1 Spot, Time For Big Blue To Buy Dell

Hewlett-Packard’s (NYSE: HPQ) plan to dominate the global hardware business is working. It has a huge line of PCs and servers along with software and tech consulting arms to get a foot in the door at large companies. And, its purchase of Compaq, considered a disaster at the time, has helped it gain market share. [...]

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Source: 24/7 Wall St. | 26 May 2010 | 3:39 am

BP cautious on new oil cap bid (AFP)

A BP cleanup crew shovels oil from a beach at Port Fourchon, Louisiana. BP downplayed hopes for a bid to cap an oil spill described as the worst in US history, as a probe showed multiple warning signs preceded a rig blast that started the leak.(AFP/Getty Images/John Moore)AFP - BP downplayed hopes for a bid Wednesday to cap an oil spill described as the worst in US history, as a probe showed multiple warning signs preceded a rig blast that started the leak.



Source: Yahoo! News: Business News | 26 May 2010 | 3:33 am

Air India workers strike goes on

India's state-run airline Air India cancels 76 flights on the second day of strike action by its employees.
Source: BBC News | Business | World Edition | 26 May 2010 | 3:32 am

Stocks poised to rebound

U.S. stock futures were poised to rise at the start of trading Wednesday, as investor fears about the economic outlook eased and global markets stabilized.
Source: Business and financial news - CNNMoney.com | 26 May 2010 | 3:25 am

ACCA Calls on G20 to Drive Reform of the Global Financial Agenda


Source: RSS feed - channel BNewsBusiness | 26 May 2010 | 3:24 am

Lisa Twaronite's This Week in Japan: What the BOJ chief envies about Bernanke

The Bank of Japan governor might be secretly wishing he could trade places with his U.S. Federal Reserve counterpart when it comes to deflation, writes Lisa Twaronite.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 3:24 am

UK mortgage lending rises at slowest rate in nine years

Mortgage lending rose at its slowest rate for nine years during April as housing market activity remained subdued, figures showed today.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 3:23 am

BA may take new action on walkout

British Airways threatens further court action with the latest strike by cabin crew now in its third day.
Source: BBC News | Business | World Edition | 26 May 2010 | 3:20 am

Robert Peston

Is Europe paying for its earlier over-confidence?
Source: BBC News | Business | World Edition | 26 May 2010 | 3:20 am

Justice Department Squeezes Apple

The Department of Justice is considering the extent to which Apple Inc (NASDAQ: AAPL) has a monopoly in the digital music sales business. Its iTunes store controls much of the market. The government agency has begun talks with music publishers and small music download companies. The New York Times reports that “investigators were probing whether [...]

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Source: 24/7 Wall St. | 26 May 2010 | 3:16 am

EU unveils bank tax to prevent bailouts

Plans for a Europe-wide levy on banks will be set out today as the EU attempts to create a single fund to cope with future financial failures.


Source: Latest Business News from Times Online | 26 May 2010 | 3:12 am

EU to press for European bank tax

Europe's internal market commissioner is expected to press for a new tax on banks to help with future melt-downs.
Source: BBC News | Business | World Edition | 26 May 2010 | 3:12 am

Burberry swings to profit, speeds up expansion

U.K. luxury retailer Burberry swings to a profit of $116.9 million, driven by sales of shoes and non-apparel accessories.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 3:10 am

Bourses play catch-up after Wall Street rebounds

Global Markets Overview: Wall Street has slapped markets out of their self-pitying spiral, encouraging traders to increase tentatively their exposure to risky assets
Source: Financial Times - US homepage | 26 May 2010 | 3:08 am

Ritchie Bros. to Conduct Grand Opening Auction in Ocana, Spain


Source: RSS feed - channel BNewsBusiness | 26 May 2010 | 3:04 am

T-Mobile USA chief to step down

Head of Deutsche Telekom’s troubled US mobile phone division to step down next year to be replaced by former head of Deutsche Telekom’s German mobile unit
Source: Financial Times - US homepage | 26 May 2010 | 3:02 am

Q&A: Procter & Gamble CEO Bob McDonald

The consumer goods giant wants a billion new customers in five years.



Source: SmartMoney.com | 26 May 2010 | 3:01 am

3 Stocks That Gained While Others Fell (Screens)

Hough: U.S. shares have broadly tumbled recently, but these have done well.



Source: SmartMoney.com | 26 May 2010 | 3:01 am

EMC: Renewed Growth and Stored Value

Data-storage giant EMC is ready to cash in on the next digital explosion.



Source: SmartMoney.com | 26 May 2010 | 3:01 am

Demand Picks Up for University Endowments (Education and Your Money)

Should colleges entrust endowments to outside financial services companies?



Source: SmartMoney.com | 26 May 2010 | 3:01 am

Golf Vacations Priced Under Par (Deal of the Day)

With the resort industry reeling from the recession, golfers can find bargains.



Source: SmartMoney.com | 26 May 2010 | 3:01 am

How to make banks save themselves

During the next banking crisis, we will need speed. Remember how floundering financial firms, like Lehman Brothers, AIG, and Fannie Mae, contributed to fear and uncertainty - creating problems for their customers, counterparties, and the markets? Many commercial and investment banks panicked, stopped extending credit, and greatly damaged our economy and financial system.
Source: Business and financial news - CNNMoney.com | 26 May 2010 | 2:57 am

London Markets: Bank-sector gains help FTSE 100 retake 5,000

Banks climb in the FTSE 100 index on Wednesday, helping the top British share index regain the 5,000 level after the previous session’s steep selloff.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 2:55 am

Short Sellers Bet Big Against Sirius And Starbucks

The bets made for and against banks and tech companies were mixed for the period ending April 14. Short selling showed no particular pattern for the two huge industries. Shorts were out in force, however, betting against companies which have experienced earnings and stock market success. High on this list were Starbucks Corporation (NASDAQ: SBUX), [...]

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Source: 24/7 Wall St. | 26 May 2010 | 2:51 am

6M iPhone users to flee AT&T?


Source: Business and financial news - CNNMoney.com | 26 May 2010 | 2:50 am

BT workers to vote on strike as chief nets £1m

BT faces the threat of strike action as the group is expected to confirm a bonus payment of more than £1 million to its chief executive in its annual report this morning.


Source: Latest Business News from Times Online | 26 May 2010 | 2:49 am

Oil rebounds in Asian trade as 'fear factor' eases (AFP)

Oil prices rebounded in Asian trade, taking their lead from strong performances in regional stock markets.(AFP/File/Shaun Curry)AFP - Oil prices rebounded in Asian trade Wednesday, taking their lead from strong performances in regional stock markets, analysts said.



Source: Yahoo! News: Stock Markets News | 26 May 2010 | 2:47 am

OECD urges tax rises and spending cuts

Public spending cuts and tax rises in advanced economies are required by next year at the latest to deal with “very unfavourable government debt dynamics”, the OECD warns
Source: Financial Times - US homepage | 26 May 2010 | 2:44 am

Stock index futures up as world stocks rebound

(Reuters) - Stock index futures pointed to a higher opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.51 percent, Dow Jones futures up 0.35 percent and Nasdaq 100 futures up 0.47 percent at 0807 GMT (4:08 a.m. ET).



Source: Reuters: Business News | 26 May 2010 | 2:44 am

Stock index futures up as world stocks rebound (Reuters)

Traders work on the floor of the New York Stock Exchange, May 7, 2010. REUTERS/Shannon StapletonReuters - Stock index futures pointed to a higher opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.51 percent, Dow Jones futures up 0.35 percent and Nasdaq 100 futures up 0.47 percent at 0807 GMT (4:08 a.m. ET).



Source: Yahoo! News: Stock Markets News | 26 May 2010 | 2:44 am

Savings: Get more yield on your cash

When you think of the words "safe income," a savings account probably doesn't spring to mind.
Source: Business and financial news - CNNMoney.com | 26 May 2010 | 2:43 am

Burberry steps up expansion as profits jump

Burberry, the Luxury goods group, beat forecasts with a jump in annual profits, boosted by sales of coats and leather goods, and said it was stepping up its expansion despite a tough economic backdrop.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 2:38 am

Tech deals are heating up

High-profile tech mergers have been ramping up, with big names like IBM and Google getting deals done this year.
Source: Business and financial news - CNNMoney.com | 26 May 2010 | 2:37 am

Clinton offers China proof of ship attack

US secretary of state says Washington will offer additional briefings and information to China to convince it that North Korea torpedoed a South Korean warship, killing 46 sailors in March
Source: Financial Times - US homepage | 26 May 2010 | 2:30 am

PM denies conflict of interest

Prime Minister John Key has rejected suggestions he has a conflict of interest because of owning shares in a vineyard while the Government is considering liquor law reform. TV3 News reported tonight the blind trust in which Mr...
Source: nzherald.co.nz - Business | 26 May 2010 | 2:28 am

London-theater-district demand boosts Shaftesbury

London real-estate investment trust Shaftesbury on Wednesday reports a return to a first-half profit and rising net asset value as the West End economy and visitor numbers remain buoyant.



Source: MarketWatch.com - Top Stories | 26 May 2010 | 2:23 am

BP to try to choke off Gulf of Mexico oil gusher (AP)

Oil absorbent material boom and oil from the Deepwater Horizon oil spill is seen on Elmer's Island in Grand Isle, La. on Tuesday, May 25, 2010. (AP Photo/Gerald Herbert)AP - BP is giving it another try and the stakes are high.



Source: Yahoo! News: Business News | 26 May 2010 | 2:22 am

Rio Tinto upbeat on iron ore despite global fears

MELBOURNE (Reuters) - Global miner Rio Tinto on Wednesday predicted strong iron ore demand to continue and gave an upbeat outlook for aluminum, defying sharp slides in commodity prices and fears of a double-dip global recession.



Source: Reuters: Business News | 26 May 2010 | 2:13 am

BP oil spill claims could reach $600 million$

Lloyd’s of London has estimated that net claims from the Deepwater Horizon explosion in the Gulf of Mexico currently stand between $300 million and $600 million ($£210 million and £420 million).


Source: Latest Business News from Times Online | 26 May 2010 | 2:07 am

Serious Tylenol side effects investigated

The Food and Drug Administration is looking into reports of at least 775 serious side effects from drugs recalled by McNeil, a division of Johnson & Johnson, according to a source close to a Congressional investigation.
Source: Business and financial news - CNNMoney.com | 26 May 2010 | 2:03 am

Nationwide expects British housing market to remain 'broadly stable'

Britain's largest building society expects "broad stability" in the country's housing market over the next six to 12 months.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 2:02 am

Universal Gold Mining Corp. Announces Initial Closing of Private Placement


Source: RSS feed - channel BNewsBusiness | 26 May 2010 | 2:00 am

Oil rises to near $70 on stocks, US gasoline drop (AP)

The price for one gallon of regular unleaded gasoline appears on the sign in front of the Speedway gas station in aurora, Ohio on Tuesday, May 25, 2010. The drop in crude prices continues to work its way into retail gasoline prices. Pump prices fell 1.3 cents overnight to a national average of $2.78 per gallon, according to AAA, Wright Express and Oil Price Information Service. (AP Photo/Amy Sancetta)AP - Oil prices rose to near $70 a barrel Wednesday in Asia as a drop in U.S. gasoline supplies and rebounding Asian stock markets bolstered confidence that demand for fuel is rising.



Source: Yahoo! News: Business News | 26 May 2010 | 1:58 am

Media Digest 5/26/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   BP plc (NYSE: BP) had warning signs of pressure on its Deepwater Horizon rig. Reuters:   Geithner went to Europe to press for more reform. Reuters:   The Qatar sovereign wealth fund wants to buy shares in Citigroup, Inc (NYSE: C). Reuters:   Oil rose on indications that US supply will tighten. Reuters:   Dell Computer’s (NASDAQ: DELL) [...]

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Source: 24/7 Wall St. | 26 May 2010 | 1:50 am

Bernanke makes case for Fed independence

TOKYO (Reuters) - Federal Reserve Chairman Ben Bernanke stepped up calls to preserve Fed independence on Wednesday, saying central banks best deliver steady economic growth and low inflation when free from political meddling.



Source: Reuters: Business News | 26 May 2010 | 1:42 am

FTSE 100 climbs at open (AFP)

The leading stock exchange fought back in opening trade after sharp falls the previous day.(AFP/File/Carl de Souza)AFP - The leading stock exchange fought back in opening trade on Wednesday after sharp falls the previous day.



Source: Yahoo! News: Stock Markets News | 26 May 2010 | 1:39 am

Live: markets bounce back from eurozone fears

Follow The Times live from the trading floor of BGC Partners, one of the world’s leading interdealer brokers, as the markets open to uncertainty in Europe.


Source: Latest Business News from Times Online | 26 May 2010 | 1:39 am

Bourses play catch-up after Wall Street rebounds

Wednesday 08:00 BST. A brutishly stoic Wall Street has slapped markets out of their self-pitying spiral, encouraging traders to increase tentatively their exposure to risky assets. The FTSE All-World...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:31 am

Cascal Voluntarily Withdraws its Complaint Against Sembcorp


Source: RSS feed - channel BNewsBusiness | 26 May 2010 | 1:30 am

Only 1 bid made for Ill. home where family slain (AP)

Jackie Ortiz of Chicago-based Judicial Sales Crop. holds a public foreclosure auction Tuesday, May 25, 2010, outside the Monroe County Courthouse in Waterloo, Ill., of a two-story Columbia house where a mother and her two young sons were found strangled a year ago. Wells Fargo Bank, which holds the mortgage on the house, was the only bidder, buying the property for $256,419.96. (AP Photo/Jim Suhr)AP - The white, three-bedroom, lakeside home with blue shutters in the well-manicured subdivision might have drawn more bidders to a foreclosure auction if not for the triple slaying that took place there last year.



Source: Yahoo! News: Business News | 26 May 2010 | 1:21 am

Healthcare reform raises the stakes in California insurance commissioner election

The prospect of broad new powers has attracted two Democrats, two Republicans and four minor-party candidates to the June 8 primary.

California's elected insurance commissioner — one of the most powerful jobs of its kind in the nation — is likely to get even more authority over the next four years as President Obama's new healthcare law takes effect.



Source: L.A. Times - Business | 26 May 2010 | 1:00 am

Wall Street optimists fight back

After an opening-bell plunge, the Dow rallies to finish with a loss of just 22 points.

Worries about Europe's debt troubles sent stocks diving again Tuesday — until some investors decided that enough was enough, and the market staged a stunning reversal.



Source: L.A. Times - Business | 26 May 2010 | 1:00 am

Home prices in March up from last year but down from February

Case-Shiller index of 20 metro areas shows prices up 2.3% in March from a year earlier. But they fell 0.5% from February. The mixed reading leaves economists disagreeing over where the market is headed.

Home prices in 20 major cities gained ground in March for the second consecutive month compared with their beaten-down year-earlier levels, new data released Tuesday showed. But prices fell when measured on a month-to-month basis, underscoring continued weakness in housing.



Source: L.A. Times - Business | 26 May 2010 | 1:00 am

Universal to unveil New York street set renovation

Reopening of the 13-block area comes nearly two years after a fire. But studio plans to dismantle or relocate other sets to make way for a residential development are raising concerns. ...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:00 am

Healthcare reform raises the stakes in California insurance commissioner election

The prospect of broad new powers has attracted two Democrats, two Republicans and four minor-party candidates to the June 8 primary. California's...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:00 am

Hyundai is moving into Toyota territory

While the Japanese giant struggles to maintain its reputation and No. 1 position, its South Korean rival has become the fastest-growing automaker. And it's made no secret about its global ambitions. ...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:00 am

La Opinin publisher named CEO of the paper's parent, ImpreMedia

Monica C. Lozano will head the nation's largest Spanish-language newspaper company and keep her current post. She plans to beef up digital content. ...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:00 am

Home prices in March up from last year but down from February

Case-Shiller index of 20 metro areas shows prices up 2.3% in March from a year earlier. But they fell 0.5% from February. The mixed reading leaves economists disagreeing over where the market is headed...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:00 am

Tribune Co. proposes $14.9 million more in executive bonuses

Tribune's plan to supplement $42.1 million in bonuses already approved by Bankruptcy Court runs into opposition. ...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:00 am

Wall Street optimists fight back

After an opening-bell plunge, the Dow rallies to finish with a loss of just 22 points. Worries about Europe's...
Source: RSS feed - channel BNPaperBusiness | 26 May 2010 | 1:00 am

Universal to unveil New York street set renovation

Reopening of the 13-block area comes nearly two years after a fire. But studio plans to dismantle or relocate other sets to make way for a residential development are raising concerns.

Universal Studios' back lot is rising from the ashes — literally.



Source: L.A. Times - Business | 26 May 2010 | 1:00 am

Hyundai is moving into Toyota territory

While the Japanese giant struggles to maintain its reputation and No. 1 position, its South Korean rival has become the fastest-growing automaker. And it's made no secret about its global ambitions.

Oles Gadacz recalls those embarrassing days a decade ago when Hyundai Motor Co. was ridiculed as the 95-pound weakling of the auto industry, a purveyor of cheap and poorly made compacts.



Source: L.A. Times - Business | 26 May 2010 | 1:00 am

La Opinión publisher named CEO of the paper's parent, ImpreMedia

Monica C. Lozano will head the nation's largest Spanish-language newspaper company and keep her current post. She plans to beef up digital content.

Los Angeles media veteran Monica C. Lozano has been named chief executive of ImpreMedia, the nation's largest Spanish-language newspaper company and owner of the Los Angeles daily La Opinión.



Source: L.A. Times - Business | 26 May 2010 | 1:00 am

Tribune Co. proposes $14.9 million more in executive bonuses

Tribune's plan to supplement $42.1 million in bonuses already approved by Bankruptcy Court runs into opposition.

Tribune Co. plans to pay 35 of its top executives $14.9 million in additional 2009 bonuses, a court filing revealed late Monday, despite pointed opposition from several key constituents in the company's 17-month-old Chapter 11 bankruptcy case.



Source: L.A. Times - Business | 26 May 2010 | 1:00 am

Poor Visibility of Key Financial Information is Undermining CFOs' Confidence in Company Performance


Source: RSS feed - channel BNewsBusiness | 26 May 2010 | 12:59 am

Business Bullet: Miners, Geithner, BP, Burberry

The latest news on: Miners, Geithner, BP, Burberry
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 12:58 am

Virgin Atlantic says it's winning business customers from BA as dispute drags on

Virgin Atlantic has seen a 10pc increase in passenger traffic in the first half of the year, with the airline claiming rival British Airways will suffer long-term damage because of the cabin crew dispute.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 12:48 am

Bargain hunter: World Cup discounts and deals

Building societies and retailers are jumping on the bandwagon.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 12:45 am

Eight lessons of investing

A leading manager says investors should learn eight key lessons.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 12:31 am

Telecom rises from record low, market gains

Telecom shares rose 2.7 per cent in a New Zealand sharemarket that posted a 0.245 per cent gain as equity markets around the world found some composure at least for now.The local market fell 1.9 per cent yesterday, taking its...
Source: nzherald.co.nz - Business | 26 May 2010 | 12:18 am

European shares rally after Wall Street, Asian markets bounce

European markets rebound after OECD raises its forecast for global growth, renewed hopes of rising demand in China and Wall Street's bounce.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 May 2010 | 12:17 am

Fed and BOJ chiefs wary of inflation targeting fixes

TOKYO (Reuters) - Federal Reserve Chairman Ben Bernanke said U.S. inflation expectations were stable despite price swings in the past few years and signaled the Fed saw no need to change its current price commitment.



Source: Reuters: Business News | 26 May 2010 | 12:15 am

NZ dollar continues downward trend

The New Zealand dollar rose then retreated today in a market where the biggest influence continues to be the fortunes of the euro.The NZ dollar was at US66.57c at 5pm from US66.75c at the same time yesterday. It had fallen to...
Source: nzherald.co.nz - Business | 25 May 2010 | 11:54 pm

Energy companies under ETS scrutiny

More questions were raised today over whether the pending implementation of the emissions trading scheme (ETS) is being used to the financial benefit of energy companies.Mercury Energy and Contact Energy have announced retail...
Source: nzherald.co.nz - Business | 25 May 2010 | 11:28 pm

Oil rises above $69 on stocks, US gasoline drop

Oil prices rose above $69 a barrel Wednesday in Asia as a drop in U.S. gasoline supplies and rebounding Asian stock markets bolstered confidence that demand for fuel is rising. Benchmark
Source: RSS feed - channel BNewsBusiness | 25 May 2010 | 11:11 pm

Strong Gold Demand Expected for 2010


Source: RSS feed - channel BNewsBusiness | 25 May 2010 | 10:59 pm

Yakima, Wash., newspaper names interim publisher

The Yakima Herald-Republic newspaper in Washington state has named Jamie Stickel interim publisher while it completes a nationwide search for a permanent publisher. Stickel is the...
Source: RSS feed - channel BNewsBusiness | 25 May 2010 | 10:21 pm

Rob Glaser, Founder of RealNetworks, Joins Accel Partners


Source: RSS feed - channel BNewsBusiness | 25 May 2010 | 10:00 pm

Mining submissions near 35,000

About 35,000 submissions have been received on the Government's mining proposals as today's deadline approaches at 5pm.Ministry of Economic Development spokeswoman Tracy Dillimore said Ministry staff will be counting submissions...
Source: nzherald.co.nz - Business | 25 May 2010 | 9:42 pm

Fed boss: Fed must be free from political meddling (AP)

Federal Reserve Board Chairman Ben Bernanke, left, listens to Bank of Japan Gov. Masaaki Shirakawa during an international conference on central banking held at the head office of the Japanese central bank in Tokyo Wednesday, May 26, 2010. The Federal Reserve and other central banks must protect their ability to make key economic decisions free from political interference, Bernanke said Wednesday. (AP Photo/Itsuo Inouye)AP - The Federal Reserve and other central banks must protect their ability to make key economic decisions free from political interference, Fed Chairman Ben Bernanke said Wednesday.



Source: Yahoo! News: Business News | 25 May 2010 | 9:05 pm

Feds looking into Apple's tactics for music: report

NEW YORK (Reuters) - The Justice Department is examining Apple Inc's tactics in the market for digital music and has talked to major music labels and Internet music firms, the New York Times said citing several people briefed on the conversations.



Source: Reuters: Business News | 25 May 2010 | 8:46 pm

Google says it helps generate $54 billion for businesses and nonprofits

A report by the Internet giant says $14 billion of that economic activity is in California, where it is based. Critics say the report is an attempt to spruce up its image as it faces greater scrutiny.

Google Inc., hoping to burnish its image, said it helped generate $54 billion in business activity for companies, Web publishers and nonprofits last year.



Source: L.A. Times - Business | 25 May 2010 | 8:44 pm

Google says it helps generate $54 billion for businesses and nonprofits

A report by the Internet giant says $14 billion of that economic activity is in California, where it is based. Critics say the report is an attempt to spruce up its image as it faces greater scrutiny...
Source: RSS feed - channel BNPaperBusiness | 25 May 2010 | 8:44 pm

Toyota, Daimler mull fuel-cell cooperation: report (Reuters)

Reuters - Japan's Toyota Motor Corp (7203.T) and Germany's Daimler AG (DAIGn.DE) plan extensive cooperation in the field of fuel cells for electric cars, the Financial Times Deutschland reported, citing unidentified sources.
Source: Yahoo! News: Business News | 25 May 2010 | 8:33 pm

Interest rate hike looking less likely, say economists

One third of mortgage holders may feel an immediate impact from any OCR hike in the coming months, but some market watchers are now less certain that it will rise next month.The fragile state of global economic markets could tip...
Source: nzherald.co.nz - Business | 25 May 2010 | 8:30 pm

Bernard Hickey: Cheers for Sam Knowles

It's especially rare in this day and age to congratulate a banker for a job well done. Many savers, taxpayers and businesses around the world have adulterated the word banker with the letter 'w' in the last couple of years since...
Source: nzherald.co.nz - Business | 25 May 2010 | 8:00 pm

Qatar wealth fund keen to buy U.S.'s Citi shares: report

LONDON (Reuters) - Qatar Investment Authority, the country's sovereign wealth fund, is keen to buy part of the U.S. Treasury's stake in Citigroup Inc , the Financial Times reported in its Wednesday edition.



Source: Reuters: Business News | 25 May 2010 | 7:29 pm

America’s Poorest Presidents: Bankruptcy, Insolvency and Extreme Financial Hardship

American presidents became bankrupt at a rate at least 20 times the national average. Most of their troubles came from real estate speculation, poor crop yields on the lands that they held, and botched and frequently highly risky business deals. 24/7 Wall St. looked at the finances of all 43 presidents and found eight that [...]

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Source: 24/7 Wall St. | 25 May 2010 | 7:08 pm

Summary Box: Central bank independence (AP)

AP - STAYING INDEPENDENT: Federal Reserve Chairman Ben Bernanke says the Fed and other central banks must protect their ability to make key economic decisions free from political interference.
Source: Yahoo! News: Business News | 25 May 2010 | 6:38 pm

NYC sinks $300,000 into tech startup

Shove over, venture capitalists, there's a new tech investor in town: New York City.
Source: Business and financial news - CNNMoney.com | 25 May 2010 | 6:24 pm

BP probe finds warning signs before blast

A preliminary internal investigation finds there were ‘several new warning signs of problems’ in the hours before the Deepwater Horizon explosion, according to US lawmakers briefed by the company
Source: Financial Times - US homepage | 25 May 2010 | 6:05 pm

Banks take a beating over eurozone fears

Fears that the eurozone’s financial crisis could derail the global economic recovery, along with rising tensions in Korea, sent shares and commodity prices tumbling yesterday.


Source: Latest Business News from Times Online | 25 May 2010 | 6:01 pm

The economy: GDP growth revised up

The economy grew slightly faster than had been thought in the first three months of this year, official figures showed yesterday. GDP rose by 0.3 per cent, up from an initial estimate of 0.2 per cent but still slower than the 0.4 per cent growth in the final quarter of last year.


Source: Latest Business News from Times Online | 25 May 2010 | 6:01 pm

M&S boss demands fair warning of VAT rise

Sir Stuart Rose has demanded clarity from the Government over the widely expected increase in VAT.


Source: Latest Business News from Times Online | 25 May 2010 | 6:01 pm

Enthusiasm led friends to buy shares, court told

The finance director of an AIM-listed biotechnology business who is standing trial for insider dealing was so enthusiastic about the company that he inadvertently encouraged friends to buy shares, a court was told yesterday.


Source: Latest Business News from Times Online | 25 May 2010 | 6:01 pm

Business big shot: Bill Halbert of KCom

Hull could be said to be a bit like Belgium — as in can you name three things that the city is famous for? Well, there’s rugby league, obviously. Then there’s the Housemartins (and the classic album London 0 Hull 4), which became the Beautiful South. And there’s cream telephone boxes, a sign of the city’s unique telephone business.


Source: Latest Business News from Times Online | 25 May 2010 | 6:01 pm

US sends 1,200 troops to Mexico border

Barack Obama, US president, will send 1,200 National Guard troops to the US border with Mexico and ask Congress for an additional $500m for border protection, part of the administration’s efforts to stop the flow of illegal immigration
Source: Financial Times - US homepage | 25 May 2010 | 5:53 pm

Tylenol maker pledges quality overhaul

Drugmaker McNeil Consumer Healthcare, currently under investigation by the Food and Drug Administration following a string of recalls related to its over-the-counter drugs including Tylenol, Motrin and Benadryl, outlined steps Tuesday to remedy serious quality and safety lapses at its manufacturing facilities.
Source: Business and financial news - CNNMoney.com | 25 May 2010 | 5:49 pm

Microsoft Xbox, phone chief out as unit struggles

SEATTLE (Reuters) - Microsoft Corp's Robbie Bach, head of its video games and mobile phones unit, is retiring in a management shuffle, as Chief Executive Steve Ballmer tightens his grip over a division steadily ceding ground to rivals.



Source: Reuters: Business News | 25 May 2010 | 5:08 pm

Strong start for NZ shares

The New Zealand stock exchange started the day strongly, after a 1.9 per cent fall yesterday took the market's losses since its most recent high in mid-April to more than 10 per cent.Today's early surge came after stocks in the...
Source: nzherald.co.nz - Business | 25 May 2010 | 4:59 pm

Outlook remains stable on U.S. AAA rating: Moody's

NEW YORK (Reuters) - The outlook on the United States' coveted AAA credit rating remains stable, though the government's financial strength is weakening due to its support for the financial system, Moody's Investors Service said on Tuesday.



Source: Reuters: Business News | 25 May 2010 | 4:55 pm

Prudential chairman: investors will back AIA deal

Harvey McGrath, chairman of Prudential, has leapt to the defence of the company's $35.5bn (£24.5bn) deal for AIG's Asian business, insisting the takeover will still receive the approval it needs from shareholders next month.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 May 2010 | 4:42 pm

Global sports begin to step up a pace

The global sports industry is poised to bounce back strongly from the recession and produce revenues of $133bn (£93bn) by 2013, according to a new report.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 May 2010 | 4:36 pm

Long live the euro at parity with the dollar

The euro is crumbling. Does this mean that the single currency project is nearing its end? Not quite. In fact, if well managed, the euro's depreciation is just what the doctor ordered to complement the...
Source: RSS feed - channel BNPaperBusiness | 25 May 2010 | 4:31 pm

Inside Money: Come in ComCom, CDO investors calling

The Commerce Commission has gone for a simple design with its new website - off-the-shelf logos, a small splash of colour, clean font (Georgia) and, thankfully, no tedious video introductions or com
Source: nzherald.co.nz - Business | 25 May 2010 | 4:30 pm

Dow dips below 10,000, then bounces back (AP)

Specialist Michael Pistillo, left, and traders work on the floor of the New York Stock Exchange Tuesday, May 25, 2010. (AP Photo/Richard Drew)AP - The Dow Jones industrials plunged below 10,000 to their lowest level of the year Tuesday before a late-day rebound that erased most of the losses if not lingering worries about Europe's debt crisis.



Source: Yahoo! News: Stock Markets News | 25 May 2010 | 4:24 pm

U.S. and China pledge economic cooperation

Beijing bends on technology development policy. Clinton touts talks' 'concrete results.'

The United States and China pledged closer cooperation on financial regulation and energy Tuesday but made no breakthroughs on currency exchange rates in a high-level dialogue overshadowed by Korean tensions.



Source: L.A. Times - Business | 25 May 2010 | 4:24 pm

The Fight for the Most Profitable Domain Names on Earth

If polled, off the top of your head, what domain names would you think are the most searched or the most profitable? In other words, what is on people’s minds? We won’t give much away yet, only that it’s not sex ‘n drugs ‘n rock’n roll but it comes close in places. And some people even beg, borrow or steal to get the domain name they want. Read on for more.

Though the dot com bubble burst a while ago and dot com dramas don’t reach the heights they used to, domain name fights still carry a big punch. Purely financially speaking of course.

‘Ah, I knew it,’ many readers might think when they hear that it’s Porn.com we’re starting our list with. The popular domain name sold for $9.5 million in 2007, the largest cash deal till then but not the last as we will see. The buyer was the internet media and investment firm MXN Ltd. Monte Cahn, co-founder and CEO of domain asset management services Moniker.com, said at the time: “Porn.com will prove to be a valuable asset for MXN Ltd. because of its significant number of daily visitors, established type-in traffic in addition to being the top domain in the adult industry.“ We’re sure it did.

The next domain name sale is less exciting than this. Fund.com was bought by Meade Technologies Inc. for $10 million in 2008. The company is now known as Fund.com and bought the domain name in an all-cash deal.

The U.S. Congress did get into fighting mode after the internet domain IRS.com was up for grabs in 2007. It considered legislation to ban the use of domain names that resemble government agencies. The sale of IRS.com to company Intersearch.com for $12.5 million was legal, however, as the financial services portal used none of the Treasury’s or IRS’s initials, logos or other symbols. So there wasn’t much even the IRS could do.

One much publicized fight over a domain name was that over Sex.com. The battle between Gary Kremen, who registered the domain name in 1994, and Stephen M. Cohen, who managed to get it registered in his name through all kinds of trickery, had all the elements of good (or bad) drama: forgery, allegations, a five-year court battle, cyber lawyers, a flight to Mexico, some car chases somewhere we’re sure, jail and appeals. Phew! The case even inspired a book of the same name, written by journalist Kieren McCarthy after following the case. Sex.com was finally sold to Escom LLC for $14 million in 2006. Ka-ching, ka-ching. The question is for whom, as a domain name like Sex.com gets about 25 million hits a day.

Long the biggest sale of a domain name, the figure of $14 million was topped by a cool $2 million more when internet marketing firm Quin Street bought the domain name Insure.com for $16 million in 2009. Insure.com, after giving up its domain name, changed its name to Life Quotes. The company had purchased the domain name for $1.6 million in 2001.

But it doesn’t stop here. Domain name prices still keep going up (some at least) as our last and to-date most expensive domain name proves. Again, Quin Street was involved who this time bought the domain Internet.com for a cool $18 million in cash! To be fair, the sale by Alan Meckler of WebMediaBrands involved a whole network of sites such as Internet.com, InternetNews.com, DevX, Linux Today and others. Still, Internet.com is by far the most searched and most profitable domain name of the cluster.

So there you have it – what’s on our minds is porn and sex mixed with a dose of taxes, funds, insurance and the internet. Previous other big domain name sales have involved business, beer, diamonds, casino and toys. We’ll leave it up to you to decide if that combination should worry us.



Source: Business Pundit | 25 May 2010 | 4:05 pm

Qatar eyes Treasury’s Citi stock

The Qatar Investment Authority, a sovereign wealth fund, has expressed interest in buying part of the US Treasury’s stake in Citigroup, potentially boosting efforts to sell the shares amid the global rout in banking stocks
Source: Financial Times - US homepage | 25 May 2010 | 4:04 pm

F&P Healthcare profit up 15pc to $71m

Fisher & Paykel Healthcare reported a 15.1 per cent rise in full year net profit to $71.6 million, boosted by strong sales growth in some products and favourable foreign exchange hedging results.Operating revenue for the year...
Source: nzherald.co.nz - Business | 25 May 2010 | 4:00 pm

Plunge Protection Team Intervention?

Government intervention in the financial markets without your knowledge, and maybe without your support … that is what many feel that the Plunge Protection Team is.  A mechanism designed to keep the markets from crashing periodically by swift purchases of securities either during or on the verge of real panic starting.  Here is the issue: [...]

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Source: 24/7 Wall St. | 25 May 2010 | 3:53 pm

How the major stock indexes fared on Tuesday (AP)

AP - A rally pushed the Dow Jones industrials back over 10,000 after the stock market sank to its lowest level of the year Tuesday.
Source: Yahoo! News: Stock Markets News | 25 May 2010 | 3:42 pm

Three Words: Eliot Spitzer TV



Just putting it out there. A little taste. You want it? This guy thinks we can make it happen, if we appeal to Spitzer’s need to be heard.

First, though, we need a format. Ness likes to go after the bad guys so perhaps a Jerry Springer-esque show wherein he forces baby daddies to take responsibility for the seeds they hath planted. Something lighter? Some sort of variety show? Should he just take over for Larry King, about to turn 135, keeps the suspenders but drops the pants? American Gladiators, every week he takes the ring with someone he took down as AG. A hostile takeover of the Seacrest American Idol gig (one night, he just forces his way on set during a live show). Or hey! What about he takes over the second hour of Power Lunch (after the first goes to David Faber later this month) and hosts some sort of call-in LoveLine, dispensing advice to anyone on Wall Street wanting to know if they should be worried about a burning sensation when they pee? Dennis Kneale could screen calls and he could have a different celebrity from the world of finance each day helping field questions (Nouriel Roubini would be an incredibly easy sell, as would Lucas van Praag, and this kind of thing is totally in his wheelhouse). Anyway, the possibilities are endless and we’re open to suggestions.



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Eliot Spitzer - Television - Jerry Springer - LoveLine - Larry King
Source: Dealbreaker | 25 May 2010 | 3:41 pm

Tension on swaps as Wall St reform conferees named

WASHINGTON (Reuters) - Two key U.S. lawmakers clashed on Tuesday over cracking down on swaps trading as a clearer shape emerged for a House-Senate panel that must finalize a major rewrite of financial regulation.



Source: Reuters: Business News | 25 May 2010 | 3:40 pm

Geithner to press Europe for unity, transparency (Reuters)

U.S. Treasury Secretary Timothy Geithner answers a question at a news conference after the U.S.-China Strategic Economic Dialogue in Beijing May 25, 2010. REUTERS/Jason LeeReuters - Treasury Secretary Timothy Geithner is heading to Europe this week to press for a united front against tackling the unfolding euro zone fiscal crisis that has sent stock markets tumbling around the world.



Source: Yahoo! News: Stock Markets News | 25 May 2010 | 3:34 pm

Summary Box: Bank stocks pull stock market off low (AP)

AP - FINANCIAL COMEBACK: The stock market closed well off its losses after Rep. Barney Frank, chairman of the House Financial Services Committee, suggested financial companies should not have to spin off businesses that operate in complex financial instruments known as derivatives. That lifted bank stocks.
Source: Yahoo! News: Stock Markets News | 25 May 2010 | 3:31 pm

Are Sallie Krawcheck’s Brokers Trying To Get Rid Of Her?



John Carney says yes. Charlie Gasparino says no, the story was planted by Bob McCann, this broad isn’t going anywhere, and if she wants to put an end to it, she should send McCann a message via horse head that she’s not to be messed with. CG’s knows where she can procure one, if there’s interest.



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John Carney - sport - New York Giants - Bob McCann - Brad Maynard
Source: Dealbreaker | 25 May 2010 | 3:30 pm

Europe, North Korea, Sprint, Orbitz, Expedia: Taking Stock


Source: Bloomberg - All Podcasts | 25 May 2010 | 3:30 pm

How To Effectively Invest In Mutual Funds (Investor's Business Daily)

Investor's Business Daily - You probably think mutual funds are for people who can't — or just won't — make their own investment decisions. And you'd be right.
Source: Yahoo! News: Stock Markets News | 25 May 2010 | 3:29 pm

Presented By:


Source: Dealbreaker | 25 May 2010 | 3:14 pm

Germany About to Extend Short Selling Ban



Just when you thought the market was starting to calm down, the Germans have to go and ban naked short selling on every stock traded on their exchanges. Like last time, the move is only going to spread fear and won’t do jack shit to stop market losses.

Whether you support naked short-selling or not, it doesn’t matter. Now doesn’t seem like the best time to mess with the markets. Plus, Germany’s move is only going to piss off its EU counterparts again, at a time when they need to be working together to fix their fiscal problems. Last time the Germans banned shot sales, they managed to piss off France – not exactly the biggest opponent of financial regulation.

These people said that a draft bill now being circulated in the German capital would ban market participants from selling certain securities without owning them, or having an option to buy them, at the time of the “naked” sale.

The proposals would also be extended to some euro currency-derivatives, these people said. Berlin would also seek to make more transparent who was selling securities short and in what volume.

Berlin Poised to Extend Short Selling Ban [FT.com]



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Germany - Short - Naked short selling - France - Business
Source: Dealbreaker | 25 May 2010 | 3:14 pm

The Tuesday Podcast: Is The Joyride On Wall Street Really Over?

don't outlive your money

(Badly Drawn Dad via Flickr)


"When this bill becomes law, the joyride on Wall Street will come to a screeching halt," Harry Reid said last week, after the Senate passed its big finance reform bill.

Today on Planet Money, we dig into the "Volcker Rule" -- the bill's ostensible ban on banks trading with their own money. And we look at the question:

Will the joyride really come to a screeching halt? And would it be a good thing if it did?

For more, read what Daniel Indiviglio of The Atlantic says about a key piece of the bill. Listen to our podcast from earlier this year, when we spoke with MIT professor Andrew Lo about banks trading with their own money.

And, if you haven't heard it already, check out this week's This American Life, which includes the latest Planet Money report from Haiti -- a story about mangoes, poverty and plastic crates.

Download the podcast, or subscribe. Music: The Mynabirds' "Numbers Don't Lie." Find us: Twitter/ Facebook/ Flickr.

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Source: NPR Blogs: Planet Money | 25 May 2010 | 3:01 pm

Get Thee To The Citi Cafeteria



…where they’re engraving flasks, $10/pop. One of Uncle Vik’s many little ideas for up the joint.



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Shopping - Business - Plants - Orchids - Home and Garden
Source: Dealbreaker | 25 May 2010 | 3:00 pm

Cost of swapping euros for dollars soars

Dollars in demand as they are increasingly seen as a haven, while many European banks need the US currency to fund dollar loan obligations
Source: Financial Times - US homepage | 25 May 2010 | 2:43 pm

CRG’s Epstein on Corporate Restructurings (Correct)


Source: Bloomberg - All Podcasts | 25 May 2010 | 2:35 pm

The Gulf Deepwater Oil Spill – the Top Kill Attempt

The next attempt to shut off the flow from the leaking BP well in the Gulf is still aimed to occur early Wednesday. The attempt will use the “top kill” method to try and kill the well. While I have described this in earlier posts, the Unified Command have put out a video animation of the [...]

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Source: 24/7 Wall St. | 25 May 2010 | 2:28 pm

Dow Pares Losses, Finishes Above 10000 (Market Update)

The index recovered after standing down as many as 292 points.



Source: SmartMoney.com | 25 May 2010 | 2:25 pm

Tearful Reunions: Your Bonus And A Little Strip Of Long Island



This morning we discussed the fact that after a torturous year of not being able to buy $300,000 cars because of how it would look, many of you are now feeling strong enough and confident enough to go for it without the fear of people calling you a tone deaf douchebag. Well that was just the tip of the iceberg, ladies. No longer having to worry about the “recession” or a lack of bonuses means the Mecca of the the DB, the Hamptons, is once again in style. Sure, it was there last year but it was a sad summer, what with having to dial down the enthusiasm and not not strip naked and roll around in a pile of hundos once you got out there Friday night. Now feel free to do just that, or light the money on fire just because you can, whatever you want, it’s now okay.

“It’s going to be a good summer,” Megan Ruddy said. “Everyone is sick and tired of holding on to their money.”

“After people got their bonuses, they said, ‘OK, things are going to be normal again,’ ” Manhattan securities lawyer Daniel Scotti said while checking out a recent open house for an estate listed at $25.9 million in the Hamptons town of Sagaponack.Scotti, the securities lawyer, bought a property in the Hamptons in 2007, at the height of the market. When the stock market crashed, he said, he expected to wait a long time until he could sell without taking a loss. But this year, before even putting the house on the market, he was offered $2.8 million for it — several hundred thousand dollars more than he paid. And then, when Scotti went house-hunting in March, he ended up in a bidding war with four people on a property in East Hampton on the day it was listed.

The change this spring was all the talk among real estate agents at a recent event in Manhattan put on by Corcoran to promote its Hamptons inventory.Caterina Proner told of one couple who asked her to sell their home last year when the bonuses dried up. The house didn’t sell, and when bonus season came around this year they went back to Proner. “All the sudden they are back and saying, ‘I want to keep it,’” Proner said. “A bonus means a summer house.”

You know what this calls for, right? A little celebration.

Hamptons Again Warmed By Wall Street’s Glow [LA Times via DI]



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Wall Street - Real estate - Manhattan - Hamptons - Mecca
Source: Dealbreaker | 25 May 2010 | 1:56 pm

SmartMoney Reporters Finalists for Loeb Award

The magazine has two finalists in the Personal Finance category.



Source: SmartMoney.com | 25 May 2010 | 1:53 pm

For Patient Investors, Another Window to Buy (Common Sense)

Stewart: The market's latest tumble justifies a longer view.



Source: SmartMoney.com | 25 May 2010 | 1:43 pm

Obama pushes small-business jobs plan

President Barack Obama urged Congress to immediately pass a $30bn small-business jobs package, as well as provide tax relief for the US companies worst-hit by the recession
Source: Financial Times - US homepage | 25 May 2010 | 1:07 pm

Biz resumes may hurt Cali politicians

In California, former executives from Hewlett-Packard, eBay and Facebook are running for office. But in some cases, that business-world background can backfire. Jeff Tyler reports.
Source: Marketplace | 25 May 2010 | 1:07 pm

Biotech tries its hand at artificial organs

Americans are surviving long enough that many of us are outliving our organs, and it's taking millions of dollars each year in health care to maintain them. Artificial organs could change that. Kerry Grens reports.
Source: Marketplace | 25 May 2010 | 1:07 pm

Letters: Plenitude, financial reform, etc.

Kai Ryssdal reviews what listeners had to say about stories involving stepping back to explore the plenitude, a commentary criticizing the financial overhaul bill, reforming investment behavior, and the social media site Togetherville.
Source: Marketplace | 25 May 2010 | 1:07 pm

Is a job on Wall Street still worth it?

When financial services were driving the economy, it seemed a no-brainer to send the cream of the academic crop to Wall Street. But after the last few years of financial crisis, a lot of people are asking whether it's worth it for graduates and the country. Jeremy Hobson reports.
Source: Marketplace | 25 May 2010 | 1:06 pm

Accounting for market volatility

In the past couple of weeks the three major indices have lost 10 percent. More than 1,000 points on the Dow. That's a lot of money not in stocks. Chris Low, chief economist at FTN Financial, talks with Kai Ryssdal about what's going on with Wall Street.
Source: Marketplace | 25 May 2010 | 1:06 pm

Asian investors get cold feet on euro bonds

Japanese investors are not just worried about debt issued by the peripheral economies of Portugal, Italy, Ireland and Greece; they seem pretty uneasy about German bonds too
Source: Financial Times - US homepage | 25 May 2010 | 1:00 pm

Justice Department Probes Leaks in Galleon Case



Looks like Raj Rajaratnam’s complaints about leaks coming out of the Justice Department have not fallen on deaf ears. Raj’s attorney announced today that he has been informed by The DOJ’s Office of Professional Responsibility that it has opened an investigation into alleged leaks by the FBI and the U.S. Attorney’s office to the Wall Street Journal and other news outlets.

The Securities and Exchange Commission’s Inspector General, David Kotz, is also probing alleged leaks from the SEC about the Galleon case as part of his broader investigation into information that appeared in various news outlets before the announcement of the SEC’s charges against Goldman Sachs.

Raj’s lead attorney, John Dowd, has previously complained about information in the press, ”that could only have come from the government itself. In a number of cases, these leaks have included the identities of individuals who have never been charged with any crimes.”

News of the investigation comes as Raj’s team ramps up its fight against The Journal, which they accuse of breaching ethics rules in their use of anonymous sources. Raj has purchased banner ads across 30 different web sites criticizing the newspaper. They have also bought search terms on Google including the names of Journal reporters and editors.

The Journal has maintained that it uses anonymous sources all the time and does not discuss its reporting methods. The DOJ seems to be taking government leaks seriously. They recently sentenced an FBI agent to 20 months in prison for passing along confidential documents to a blogger.



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Raj Rajaratnam - Wall Street Journal - U.S. Securities and Exchange Commission - Federal Bureau of Investigation - Goldman Sachs
Source: Dealbreaker | 25 May 2010 | 12:57 pm

Select Fund Sell-Offs in Europe (EWP, EWI, EWG, EWU, EWQ, IEV, IRL, SNF, GF, RNE, CEE, EWL)

It is not hard to find ADRs which have sold off by about 50%, and some are worse than that out of Europe.  These shares are getting the double-whammy now with a declining market and a declining currency.  Throw in that the Euro is now the Peso in the eyes of the global safe-haven seekers [...]

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Source: 24/7 Wall St. | 25 May 2010 | 12:50 pm

Do Google ads really help generate biz?

Google released a report that says its advertising helped generate $54 billion of economic activity last year. Brett Neely reports there's more to that number than meets the eye.
Source: Marketplace | 25 May 2010 | 12:49 pm

Reform may consolidate home care

Home health and hospice provider Gentiva plans to acquire Odyssey. That merger would create one of the largest hospice companies in the U.S. Gregory Warner reports.
Source: Marketplace | 25 May 2010 | 12:48 pm

Endorsements: Dennis Kneale Wants You To Give It Up For Jim Cramer



“…the person at CNBC Dennis respects most is Jim Cramer. This may surprise you but Kneale offers an explanation: “Jim is an encyclopedia of stocks. The guy is a genius.” While Cramer may be wrong at times when his opinion really counts (Bear Stearns, anyone?), he’s also right a lot of the time and deserves more credit than he gets.” [BI]



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Jim Cramer - Bear Stearns - CNBC - Business - Investing
Source: Dealbreaker | 25 May 2010 | 12:45 pm

Legg Mason to Start Active ETF with Grail: Audio


Source: Bloomberg - All Podcasts | 25 May 2010 | 12:38 pm

Texas Rangers, WaMu: Bloomberg Law Bankruptcy Review


Source: Bloomberg - All Podcasts | 25 May 2010 | 12:15 pm

Dow 10,000! (An Illustrated History)

Giuliani Grasso

Rudy Giuliani and Richard Grasso on March 29, 1999, the first day the Dow closed above 10,000. (Henny Ray Abrams/AFP/Getty Images)

By Jacob Goldstein

Stocks were way down this morning, and the Dow fell below 10,000. That threshold has no intrinsic meaning, but it has this very loaded, emotional history.

The first time the Dow closed above 10,000, it was a really big deal. They made hats, as if the stock market had just won the Super Bowl, or something.

Here's what the WSJ said the next day:

Traders said the close above 10000 was a landmark in a bull market that has made millions of Americans, especially those nearing retirement, feel more financially comfortable than they ever imagined they could.

Sounds nice, right?

When you look at how the market was behaving in the decade leading up to that day, it's pretty amazing how much the market went up:

Dow Jones Industrial Index

Still, that WSJ story does have a note of caution:

Many market analysts, especially those with enough gray hair to remember past bear markets, worry that Dow 10000 could be remembered as a high-point not of investor triumph but of market excess.

Right. Here's what's happened in the years since then:

Dow Jones Industrial Average

All those ups and downs made for plenty of Dow 10,000 moments, both on the upswings and the down.

In June of 2002, after the Dow crossed 10,000 on the way down, here's how the Washington Post accounted for the decline:

There was the revelation of yet another Securities and Exchange Commission investigation of a major corporation's accounting ... There was the now-usual run of credit downgrades, profit shortfalls and weak-dollar alarms, plus genuinely scary things such as the prospect of nuclear war in Kashmir and more terrorist acts in the United States.

Cut to the WSJ in December of 2003:

The return to 10000 was a relief to investors whose faith in stocks was sorely tested by the popping of the technology bubble in 2000 and the three-year bear market that followed.

The market was rising at that moment in part because the Fed was looking at leaving interest rates very low for a long time -- a decision that ultimately wound up fueling the housing bubble, according to many economists.

That bubble, of course, fed into the global financial crisis. Which brings us to October, 2008, when USA Today wrote:

Stocks worldwide plunged Monday on growing signs that the credit crisis is spreading to banks and economies outside the USA, sparking a sharp selling spree on Wall Street that drove the Dow Jones industrials below 10,000 for the first time in four years.

And the bounce-back a year later, after stocks rose by more than 50% in the span of six months and crossed 10,000 again. From the Washington Post:

Even the most optimistic bulls do not predict another 50 percent surge over the next half-year. More likely, analysts say, is a "sideways churning," as the economy wrestles to bring down unemployment and companies try to generate profit through new revenue, not just cost-cutting.

The Dow's been up and down since then -- it closed below 10,000 as recently as February, the WSJ notes today. Just to round things out, here's what the New York Times says about today's decline:

Shares on Wall Street and in Europe skidded Tuesday and the euro resumed its fall as concerns about public sector finances in Europe escalated.

Thanks to Katie Daugert of the NPR Reference Library for help with this post.

Correction: An earlier version of this post listed the wrong date for the photo at the top. Thanks to the commenters who pointed out the error.

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Source: NPR Blogs: Planet Money | 25 May 2010 | 12:05 pm

Barney Frank Deals a Death Blow to Derivatives Reform



Barney Frank just delivered a speech at Compliance Week’s annual conference in Washington D.C. and he seems to have confirmed what Goldman Sachs analysts told us yesterday – new legislation that forces banks to spin-off their derivatives business probably won’t make it into the final financial reform bill.

“Banks ought to be able to hedge their own risks,” Mr. Frank said. He said banks would be prohibited from overly risky derivatives activities by the Volcker Rule and that the separate provision wouldn’t be necessary.

“I don’t see the need for a separate rule regarding derivatives because the restriction on banks engaging in proprietary activities would apply to derivatives as well as everything else,” Mr. Frank said.

That’s not going to sit well with Barney’s Democratic colleague, Blanche Lincoln of Arkansas, who has been fighting tooth and nail for the new legislation. Goldman’s analysts warned yesterday that the legislation would do some serious damage to the banks if it passed, but they don’t think it will get through.

From Goldman’s Report:

…while regulatory risk is (hopefully) reaching a peak it does create the specter of an overhang for some time. In particular our Washington analyst does not expect the Lincoln proposal to make it into the final version of the bill, but should this occur it would be very negative for investment banks and potentially exchanges as volumes would suffer.



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Source: Dealbreaker | 25 May 2010 | 11:24 am

Tim Geithner Has Two Requests



Request Number One: Challenge him to a game of your choice. Nok Hockey, tennis, jacks, Crossfire, fire ball, ping pong, rock paper scissors, mud-wrestling, Egyptian Ratscrew, kick ball, something weird and exotic with ever-changing rules you just made up on the spot. Doesn’t matter what it is, the important thing is that you underestimate him, smirk and think to yourself “this should be good.” Then watch as he flips you and your expectations on your back.

Geithner is a “sports nut and is up for playing or trying any sport someone suggests,” said Treasury spokesman Andrew Williams. “A lot of folks have underestimated Secretary Geithner in a lot of ways, and the basketball court’s one place where he’s been underestimated,” said U.S. Representative Rick Larsen, 44, a Washington state Democrat who played with Geithner and President Barack Obama at an Oct. 8 game at the basketball court on the White House’s South Lawn. He said he and Geithner covered one another during much of the game. “He definitely is a credible basketball player, one that you would choose to have on your team,” said Representative John Shimkus, an Illinois Republican who also played in the after-work contest. He has “good ball-handling skills” and he’s fast on the court, Shimkus, 52, said in an interview.

Request Number Two: caption this photo:

Geithner Shows Benefit of Having Treasury Chief With Jump Shot [Bloomberg]



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Source: Dealbreaker | 25 May 2010 | 11:18 am

50 Tips to Help You Find a Job

Without going into sordid unemployment numbers, let’s just say that lots of people need a job right now. If you’re one of them, increase your odds by following some of the 50 tips below.

Job hunting
Job hunting isn’t easy. What website should you search? Who should you ask? What about the jobs that aren’t advertised? Here’s what to do.

Develop your professional image.

5 job search time wasters.

7 job search secrets you must know.

Attend events when you look for that new job.

Why the recruiter won’t get back to you.

Will working for free help you advance?

Ideas to fast track your job search.

Be a superstar job seeker.

Avoid these costly job search misconceptions.

Use your head to get your foot in the door.

Find the hidden job market to increase your chances of landing a position.

Should you work with a search firm?

A solid list of things to get you through the job search.

Networking
Your network is often the key to your employment. Build it, boost it, and nurture it.

Networking tools for your job search.

What has your network done for you lately?

What if you hate “cold” networking?

Start with a plan to grow your network.

Network your way into a job.

The 100-day wall, and other networking expectations.

10 ways to build a high-value network.

3 simple steps for getting job lead referrals.

Resumes and Cover Letters
How to stand out in a sea of resumes and cover letters.

Make your resume stand out.

5 tips to fit your resume onto a single page.

Don’t let a simple resume mistake cost you interviews.

What’s the right format for your resume?

Tips for submitting your online resume.

The secret cover letter headline formula.

Interviewing
All of your efforts won’t amount to anything if your interview skills are subpar. Here are some tips and tricks for improving them.

6 ways to become the top dog before your interview.

Interview for a startup like a pro.

Interview questions to ask your interviewer.

Ace interview questions with the right answers.

Gotcha, sucker interview questions.

A video of interview do’s and dont’s.

Here’s a series of job interview tip videos.

10 ways to ask for the job at your interview.

Your interviewer might be the one sweating.

10 ways to ace the phone interview.

5 stupid and 5 real interview questions.

Online Tools and Skills
Your social network, website, and online presence will help employers discover how good you really are.

Find a job using Twitter, LinkedIn and Facebook.

Make the most of Facebook in your job search.

How much time should you spend networking online?

Pay attention to your online reputation–employers are.

Following up is an art form.

Build your digital relationships before you need them.

Is career search 2.0 worth it?

Miscellaneous Tips
Even more tips for landing that perfect gig.

This blog is a good source for daily job listings and commentary.

Watch out for job scams when you’re job hunting. They’re at an all-time high.

Rehearse for job search success.

A cheat sheet for completing part-time job applications.

Choosing between multiple job offers (you lucky devil).



Source: Business Pundit | 25 May 2010 | 10:10 am

A Value Investor's Cold Calculus

Talking With Donald Yacktman, portfolio manager of the Yacktman fund.



Source: SmartMoney.com | 25 May 2010 | 9:31 am

Lena Komileva, Ian Shepherdson: Bloomberg On the Economy


Source: Bloomberg - All Podcasts | 25 May 2010 | 9:23 am

Home Prices Are Falling Again

By Jacob Goldstein

Home prices fell 3.2 percent in the first quarter of this year, compared to the fourth quarter of last year. But prices are still above where they were last spring.

That's according to the latest update of the Case-Shiller index, out this morning.

The decline came even as the government and the Fed threw the kitchen sink at the housing market, an effort that included the Treasury paying people to buy houses and the Fed buying more than $1 trillion in mortgage bonds.

Here's a graph that shows the Case-Shiller 20-city composite over the past several years; that number on the right indicates that, as of March, home prices had risen about 43% since January, 2000. But as the graph shows, prices are way down from the peak of the bubble.

Case Shiller

(Alyson Hurt/NPR)

After the jump: A table that shows how home prices are doing in 20 metro areas around the country. There's some interesting variation, with prices rising in some places and falling in others.

Here are the Case-Shiller numbers for March:

-1.8% -1.3% 0.0% 3.8% -1.1% -3.9% -2.3% -2.3% 1.8% 6.7% 0.4% 3.0% 0.6% 4.1% -4.1% -4.6% -0.8% -12.0% -0.7% 6.0% -0.9% -1.7% -2.7% 6.5% -0.7% -2.4% -0.5% 2.4% -0.1% -2.8% 1.5% 10.8% 1.5% 16.2% 0.1% -3.6% -0.1% -3.5% -0.7% 5.6% -0.5% 2.3%
Metro Area March 2010 Monthly Change9 Annual
Change
Atlanta 103.74
Boston 151.42
Charlotte 114.74
Chicago 119.71
Cleveland 103.32
Dallas 115.74
Denver 125.31
Detroit 67.66
Las Vegas 102.58
Los Angeles 170.62
Miami 146.15
Minneapolis 116.66
New York 169.42
Phoenix 109.52
Portland 143.61
San Diego 160.22
San Francisco 136.74
Seattle 143.73
Tampa 136.46
Washington 175.28
Composite 143.35

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Source: NPR Blogs: Planet Money | 25 May 2010 | 9:20 am

Ritholtz, Finch, Pond, Halpenny, Roque, Case: Surveillance


Source: Bloomberg - All Podcasts | 25 May 2010 | 9:19 am

Consumer Group: Sunscreens are Snake Oil

The Environmental Working Group (EWG), a nonprofit focused on environmental advocacy, has released its fourth annual Sunscreen Guide. This guide measures the safeness and efficacy of sunscreens. This year, EWG found that only 8% of the 1,400 sunscreens they tested is good to use.

EWG claims that sunscreens exaggerate SPF claims. They also add toxic ingredients like a skin-tumor causing form of Vitamin A and hormone disruptor oxybenzone. Here’s what the EWC found:

Products with high SPF ratings sell a false sense of security because most people using them stay out in the sun longer, still get burned (which increases risk of skin cancer) and subject their skin to large amounts of UVA radiation, the type of sunlight that does not burn but is believed responsible for considerable skin damage and cancer. High SPF products, which protect against sunburn, often provide very little protection against UVA radiation.

This year, new concerns are being raised about a vitamin A compound called retinyl palmitate, found in 41 percent of sunscreens. The FDA is investigating whether this chemical, when applied to skin that is then exposed to sunlight, may accelerate skin damage and elevate skin cancer risk. FDA data suggest that vitamin A may be photocarcinogenic, meaning that in the presence of the sun’s ultraviolet rays, the compound and skin undergo complex biochemical changes resulting in cancer. The evidence against vitamin A is not conclusive, but as long as it is suspect, EWG recommends that consumers choose vitamin A-free sunscreens.

EWG has again flagged products with oxybenzone, a hormone-disrupting compound that penetrates the skin and enters the bloodstream. Biomonitoring surveys conducted by the Centers for Disease Control and Prevention have detected oxybenzone in the bodies of 97 percent of Americans tested.

Some blame falls on the FDA, which has yet to finalize regulations for sunscreens promised since 1978. FDA officials estimate that the regulations may be issued next October – but even then, they are expected to give manufacturers at least a year, and possibly longer, to comply with the new rules. That means the first federally regulated sunscreens won’t go on store shelves before the summer of 2012.

If you want safe sunscreen, head to the natural products section of your grocery store. The EWG said that mineral sunscreens by brands including Badger, Jason, Desert Essence, and Soleo Organics were safest. If slathering ground up titanium dioxide on your skin doesn’t appeal to you, the EWG also recommended some non-mineral sunscreens by Bullfrog, Coppertone, and others. Meanwhile, many popular products by big brands like Neutrogena and Banana Boat make their don’t-buy list. See their full set of recommendations here.



Source: Business Pundit | 25 May 2010 | 8:22 am

Foxconn Sees 10th Employee Suicide This Year

Foxconn, the world’s biggest contract electronics manufacturer, makes iPhones, iPads, Amazon Kindles, and Intel motherboards. Something about Foxconn, located in Shenzhen, China, also makes employees kill themselves. 19-year-old Li Hai jumped to his death today, the 10th employee to kill himself in 2010. The New York Times has the details:

Foxconn…has been struggling this year to explain a string of suicides among young workers at its huge complexes in the city of Shenzhen, where the company employs about 420,000 workers. Nine Foxconn employees have now committed suicide since late January in Shenzhen, and two others attempted suicide but survived with serious injuries, according to the police. While the suicide rate at Foxconn is still below estimates of the national rate of about 14 per 100,000 people in China, according to the World Health Organization, Foxconn executives say the figures are significantly higher than in previous years.

Sociologists say some of the Foxconn suicides may be copycat attempts committed by distraught youths who had learned of the earlier suicide attempts. Copycat suicides and so-called suicide clusters are common in most parts of the world, particularly in Asia, and health experts believe that news media reporting on suicides sometimes leads to such a contagion.

Some labor rights groups, though, have accused Foxconn of operating military-style factories and abusing workers. They also have called some of the deaths suspicious and have asked for an independent investigation.

Terry Gou, the founder of Foxconn and its parent company, the Hon Hai Precision Industry of Taiwan, told the China News Service on Monday that Foxconn is not a sweatshop and that the company was doing everything it can to prevent more suicides. Company executives say Foxconn is planning to hire psychiatrists, counselors and monks and even intends to bring in 2,000 singers, dancers and gym trainers to improve life on its two sprawling campuses in Shenzhen. China’s state-run news media also reported Tuesday that Foxconn is building tall fences at its dormitories to prevent workers from jumping to their deaths.

Foxconn might also try what Hyundai and Samsung have done before them: Have workers mimic their own deaths to stave off future suicide attempts.



Source: Business Pundit | 25 May 2010 | 8:03 am

Technology Giants Play Catch-Up (Market Update)

WHAT'S HAPPENING NOW: Microsoft chases videogames, while IBM moves into software.



Source: SmartMoney.com | 25 May 2010 | 7:41 am

Gallo on Euro, Haynes on Stocks: First Word


Source: Bloomberg - All Podcasts | 25 May 2010 | 7:04 am

A Classic Pre-Internet Sign



Source: Business Pundit | 25 May 2010 | 4:58 am