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Auto Review: 2010 VW Tiguan S: Best small sport utility goingHere’s the deal. You can try out all of the small sport utility vehicles and none will be more fun to drive than the VW Tiguan.
Source: MarketWatch.com - Top Stories | 29 May 2010 | 4:01 am After May madness, Wall Street faces loaded week (AFP)
Source: Yahoo! News: Stock Markets News | 29 May 2010 | 3:58 am Drug giant's move angers GreeksThe world's leading insulin-provider says it is withdrawing its medicine from Greece, because of a compulsory 25% price cut.Source: BBC News | Business | World Edition | 29 May 2010 | 3:53 am ECB's Stark eyes end of loose monetary policy - reportBERLIN (Reuters) - The European Central Bank could begin exiting its phase of loose monetary policy from July, ECB Executive Board Member Juergen Stark was quoted as saying by German weekly magazine WirtschaftsWoche on Saturday.
Source: Reuters: Business News | 29 May 2010 | 3:44 am Calls for probe after ABN CEO warns on repaymentAMSTERDAM (Reuters) - The chief executive of nationalized Dutch bank ABN AMRO said it was unlikely the state would recover the full 30 billion euros ($37 billion) it has spent buying and supporting the bank, sparking calls for new parliamentary hearings into the aid.
Source: Reuters: Business News | 29 May 2010 | 2:47 am Americans wait to learn if top kill will stop oil (AP)
Source: Yahoo! News: Business News | 29 May 2010 | 1:07 am Stock-market roller coaster is hard on the economy's stomachTurmoil on Wall Street erodes the confidence needed to speed up hiring and growth. The global surge in financial...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am The 2010 Airstream International RV: Nature, meet man-made wonderOn a camping trip, the futuristic RV feels like a home away from home. Like a lot of Angelenos, I like to ditch...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am These 'printers' make 3-D stuffPlastic extrusion machines that can make 3-D objects will be commonplace in homes one day, people in the field believe. ...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am First American to split in two TuesdaySpinoff of the Santa Ana firm's financial data business, to be named CoreLogic, has been planned for two years. The original title insurance and escrow business will become First American Financial. ...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am Apple-Google fight is expected over future of TVApple may add iPhone-like features to a new version of its content-streaming set-top box.— Another battle is brewing between Apple Inc. and Google Inc., and this time it may come into your living room.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am First American to split in two TuesdaySpinoff of the Santa Ana firm's financial data business, to be named CoreLogic, has been planned for two years. The original title insurance and escrow business will become First American Financial.After more than a century in business — and more than two years of planning — the time has arrived to split up First American Corp., the Santa Ana real estate services giant that employs more than 30,000 people and bills itself as America's biggest provider of business information.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am Apple-Google fight is expected over future of TVApple may add iPhone-like features to a new version of its content-streaming set-top box. — Another battle...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am Small dwellings fill a nicheNew York-style mini-apartments are catching on among renters who couldn't otherwise afford to live in choice neighborhoods. ...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am Wesley Snipes may be helped by former financial advisor's arrestThe actor is fighting a tax-evasion conviction on which he faces three years in prison. Kenneth I. Starr, who has been charged with fraud and money laundering, was a prosecution witness in Snipes' trial...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am Ford CEO declines to confirm plans to kill the Mercury brandAlan Mulally says Ford is reviewing its nameplates as well as simplifying operations by focusing on fewer brands and developing vehicle platforms to use worldwide.Ford Motor Co. Chief Executive Alan Mulally said the automaker is reviewing its nameplates but declined to confirm reports this week that he plans to kill the Mercury brand.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am Small dwellings fill a nicheNew York-style mini-apartments are catching on among renters who couldn't otherwise afford to live in choice neighborhoods.Timm Freeman's Santa Monica apartment has 17-foot ceilings, granite countertops and collector guitars hanging on the wall. He's got a built-in microwave, dishwasher and central air conditioning.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am These 'printers' make 3-D stuffPlastic extrusion machines that can make 3-D objects will be commonplace in homes one day, people in the field believe.Home computer printers gave people the ability to produce bank statements, concert tickets, holiday cards and party invitations at the touch of a button.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am Judge refuses to unfreeze Alfred Villalobos' assetsA history of high-stakes gambling losses is cited as the main reason. Villalobos is accused in a state lawsuit of using his influence with CalPERS officials to win investment deals for his clients.A state judge on Friday cited a long history of high-stakes gambling losses as a principal reason for denying a request from Nevada pension fund marketing intermediary Alfred R. Villalobos to lift a court-ordered freeze on his assets.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am Judge refuses to unfreeze Alfred Villalobos' assetsA history of high-stakes gambling losses is cited as the main reason. Villalobos is accused in a state lawsuit of using his influence with CalPERS officials to win investment deals for his clients. ...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am 'American Idol' parent CKX may become prize in bidding war'Idol' creator Simon Fuller, ex-Barclays banker Roger Jenkins, Hollywood veteran Allen Shapiro and CKX founder Robert F.X. Sillerman are involved in runs at the company, or are expected to be. ...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am The 2010 Airstream International RV: Nature, meet man-made wonderOn a camping trip, the futuristic RV feels like a home away from home.Like a lot of Angelenos, I like to ditch the city every once in a while and experience nature. Briefly.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am Ford CEO declines to confirm plans to kill the Mercury brandAlan Mulally says Ford is reviewing its nameplates as well as simplifying operations by focusing on fewer brands and developing vehicle platforms to use worldwide. ...Source: RSS feed - channel BNPaperBusiness | 29 May 2010 | 1:00 am Stock-market roller coaster is hard on the economy's stomachTurmoil on Wall Street erodes the confidence needed to speed up hiring and growth.The global surge in financial markets last year boosted hopes that the recession was ending. But now tumbling stock prices and wild volatility on Wall Street are undermining some of the pillars supporting the economic recovery.
Source: L.A. Times - Business | 29 May 2010 | 1:00 am Fire at Iran oil well, three dead: report (Reuters)Reuters - A fire at an Iranian oil well near the Iraq border killed three people on Saturday and injured 10 more, Iran's official IRNA news agency reported.Source: Yahoo! News: Business News | 29 May 2010 | 12:50 am Obama bolsters oil teams on coastPresident Barack Obama pledges to triple the manpower in coastal areas hit by the Gulf oil spill as he tours affected areas.Source: BBC News | Business | World Edition | 29 May 2010 | 12:13 am Apple inquiry focuses on price fixingNEW YORK/DENVER (Billboard) - Seeking information on possible price fixing in the digital music marketplace, the U.S. Department of Justice contacted the legal departments of the major record labels as part of an initial inquiry into Apple, sources tell Billboard.
Source: Reuters: Business News | 28 May 2010 | 10:15 pm Apple inquiry focuses on price fixingNEW YORK/DENVER (Billboard) - Seeking information on possible price fixing in the digital music marketplace, the U.S. Department of Justice contacted the legal departments of the major...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 10:15 pm Alaska pipeline company restarts pipeline (AP)
Source: Yahoo! News: Business News | 28 May 2010 | 10:15 pm Outside the Box: Comcast CEO's edifice complexHoward Gold explains what Comcast CEO Brian Roberts's real-estate plans could mean for shareholders.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 10:01 pm Paper firm executive touts green power, recyclingWhen you use recycled paper to make nearly all of your products, it makes sense to promote wind power and conservation, says Cascades Tissue executive.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 10:01 pm Market Snapshot: U.S. stocks to try to recover after rough rideThe U.S. stock market has its work cut out for it after its worst month in more than a year, with the volatility and global concerns that have roiled Wall Street for weeks expected to continue.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 10:01 pm Chipmaker Broadcom stock options backdating case endsLOS ANGELES (Reuters) - U.S. prosecutors will not appeal a judge's dismissal of stock options backdating-related charges against computer chipmaker Broadcom Corp co-founders Henry Nicholas and Henry Samueli.
Source: Reuters: Business News | 28 May 2010 | 9:52 pm Chipmaker Broadcom stock options backdating case endsLOS ANGELES (Reuters) - U.S. prosecutors will not appeal a judge's dismissal of stock options backdating-related charges against computer chipmaker Broadcom Corp co-founders Henry Nicholas...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 9:52 pm 10 Things Baggage Handlers Won't Say (10 Things)The secret journey your bag takes once it leaves the check-in counter.
Source: SmartMoney.com | 28 May 2010 | 9:46 pm Prudential wants to pay less to save AIA dealLONDON (Reuters) - Prudential has entered talks to cut its $35.5 billion offer for AIG's Asian life insurance arm in a last-ditch bid to salvage a deal criticized by shareholders as too...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 9:42 pm Prudential wants to pay less to save AIA deal (Reuters)Reuters - Prudential has entered talks to cut its $35.5 billion offer for AIG's Asian life insurance arm in a last-ditch bid to salvage a deal criticized by shareholders as too expensive.Source: Yahoo! News: Business News | 28 May 2010 | 9:42 pm Prudential wants to pay less to save AIA dealLONDON (Reuters) - Prudential has entered talks to cut its $35.5 billion offer for AIG's Asian life insurance arm in a last-ditch bid to salvage a deal criticized by shareholders as too expensive.
Source: Reuters: Business News | 28 May 2010 | 9:42 pm UPDATE 8-UK's Prudential wants to pay less to save AIA deal(Adds U.S. Treasury statement, also adds source comment on AIG reaction to $30 bln price and stock price)Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 9:17 pm Markets rattled as Fitch cuts Spain's debt ratingRatings agency Fitch cut Spain's credit rating due to its poor growth prospects just a day after the embattled government pushed through an austerity plan designed to address fears over itsSource: RSS feed - channel BNewsBusiness | 28 May 2010 | 9:06 pm Feds drops appeals in Broadcom backdating case (AP)AP - Federal prosecutors said Friday they won't appeal the dismissal of criminal charges against the founders of high-tech chipmaker Broadcom, ending an embarrassing chapter for the government during which a judge blasted prosecutors for "shameful" misconduct and a lack of evidence.Source: Yahoo! News: Business News | 28 May 2010 | 8:51 pm AIG sees $30 billion for Asian unit too low: sourceNEW YORK (Reuters) - American International Group Inc believes $30 billion for its Asian unit, AIA is too low, and the U.S. insurer is not in a rush to do a deal, a source familiar with...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 8:50 pm Alaska pipeline company restarts pipelineThe operator of the trans-Alaska pipeline system says it has restarted the 800-mile line idled after a contained spill this week. Alyeska Pipeline Service Co. spokeswoman Michelle Egan...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 8:48 pm AIG sees $30 bln for Asian unit too low - sourceNEW YORK, May 28 (Reuters) - American International Group Inc believes $30 billion for its Asian unit, AIA is too low, and the U.S. insurer is not in a rush to do a deal, a source familiar with the matter...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 8:30 pm Five U.S. banks close, lifting 2010 tally to 78FDIC shuts down five more banks in the U.S. on Friday.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 8:13 pm Regulators shut 5 banks as 2010 tally hits 78WASHINGTON (Reuters) - U.S. regulators seized five more troubled banks on Friday, including three banks owned by Bank of Florida Corp, bringing the tally of banks closed so far this year to 78.
Source: Reuters: Business News | 28 May 2010 | 8:11 pm Feds drops appeals in Broadcom backdating caseFederal prosecutors said Friday they won't appeal the dismissal of criminal charges against the founders of high-tech chipmaker Broadcom, ending an embarrassing chapter for the government...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 8:06 pm 3 Fla. banks, 1 each in Nev., Calif. shut down (AP)AP - Regulators on Friday shut down three banks in Florida and one each in Nevada and California, bringing the number of U.S. bank failures this year to 78.Source: Yahoo! News: Business News | 28 May 2010 | 7:56 pm Roll call on jobless benefits, tax breaks (AP)AP - The 215-204 roll call Friday by which the House voted to continue providing unemployment checks to people out of work more than six months and revive certain tax breaks for families and businesses.Source: Yahoo! News: Business News | 28 May 2010 | 7:45 pm BP resumes attempt to cap oil well - CNN.comSource: Business and financial news - CNNMoney.com | 28 May 2010 | 7:28 pm 3 Fla. banks, 1 each in Nev., Calif. shut downRegulators have shut down three banks in Florida and one each in Nevada and California, bringing the number of U.S. bank failures this year to 78. The Federal Deposit Insurance Corp. on...Source: RSS feed - channel BNewsBusiness | 28 May 2010 | 7:25 pm South Korea seeks calm amid war fearFinancial authorities in South Korea are understood to be honing a series of “whatever it takes” policy measures to soothe stock, bond and currency markets if military brinkmanship tightens its grip on the peninsula. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm Hotel doors are revolving but it’s the Grosvenor that countsCorporate activity seems to have returned to the hotel sector. In the past few weeks, a number of well-known London hotels have been sold or put up for sale, while the logjam of debt refinancings, a legacy of the buyout mania of pre-recessionary times, has started to ease. This is demonstrated by the negotiation of new terms for both the Alternative Hotel Group and the Rocco Forte Collection. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm The least worst option for American taxpayersGod-damned lousy, perfidious limeys! First they poison our seas. Now they want to renege on a promised deal and short-change Uncle Sam. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm UK gets Baby Jag as carmaker turns to ChinaJaguar Land Rover is to give the go-ahead to two new British-built Jaguar models — a sportscar and a new “Baby Jag” — in an attempt to allay fears that the carmaker is to shift production to China, with the potential loss of thousands of UK jobs. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm City surprised by surge in Eversheds’ profitsEversheds opened the results season for Britain’s biggest law firms yesterday by recording a surprising 28 per cent jump in partners’ profits. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm Tax LossesThe Conservative Government came to power on a platform of simplifying the tax system and lowering the tax burden. That is the inclination, and the ideology, of the party David Cameron leads. The reality is that the Conservative Party now finds itself in a coalition with Liberal Democrats. But that should not be a reason for suspending economic and business judgment. It should certainly not be a reason for George Osborne, the Chancellor, to raise steeply the rate of capital gains tax in his Budget next month, as is now widely expected. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm Housing projects welcome new investorsHopes of a private equity-led recovery in housebuilding received a boost this week as two investors backed residential development for the first time. The purchase of sites worth £300 million in the Thames Gateway will provide more than 1,200 homes. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm Accountants move into green monumentsThey compete fiercely for audit clients and consulting projects, but now Britain’s biggest bean-counters are battling for an unlikelier prize: to be the occupier of London’s greenest office building. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm Warren Buffett subpoenaed to appear before US commissionWarren Buffett has been issued with a subpoena to force him to appear before a government panel in Washington examining the causes of the 2008 financial crisis. It appears that without it the world’s favourite billionaire investor would not have turned up. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm Builders fear rules mean ‘nimbyism will run riot’The Government has given the green light to local councils to refuse planning applications for housing developments, fuelling fears among builders of a nationwide hiatus on new homes. Source: Latest Business News from Times Online | 28 May 2010 | 6:01 pm Obama vows to fix Gulf, price tag growsThe president, under fire for his administration’s response to BP's oil disaster, promised Gulf Coast residents that they would “not be abandoned.”
Source: MarketWatch.com - Top Stories | 28 May 2010 | 5:53 pm BP moves to plug oil well leak with junkBP began firing golf balls, shredded tyres and rope into a deep sea well that is spilling thousands of barrels of oil into the Gulf of Mexico, in the latest attempt to stop the worst slick in US historySource: Financial Times - US homepage | 28 May 2010 | 5:41 pm After Hours: BP shares continue to ease in evening tradeBP shares fall late Friday, extending dayside declines.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 5:38 pm Laws to repay £40,000 of expensesTreasury minister claimed the funds for rooms he rented off his male partnerSource: Financial Times - US homepage | 28 May 2010 | 5:21 pm Latin American Markets: Brazil, Mexico stocks end May trading in the redLatin American stock markets fall Friday, with the last day of trading in May marked by fresh worries about Europe’s fiscal conditions.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 4:58 pm Judge: Toyota must give documents to plaintiffs (AP)AP - The judge presiding over hundreds of federal lawsuits against Toyota has ordered the automaker to give internal documents to lawyers suing the company over sudden acceleration problems.Source: Yahoo! News: Business News | 28 May 2010 | 4:47 pm Ex-Spice Girls boss eyes Idol bidEx-Spice Girls manager Simon Fuller leads a consortium bidding to buy the firm that owns the rights to TV show American Idol.Source: BBC News | Business | World Edition | 28 May 2010 | 4:44 pm Stocks Swoon, Widening May Losses (Market Update)Traders moved away from equities heading into the holiday weekend.
Source: SmartMoney.com | 28 May 2010 | 4:41 pm Jennifer Openshaw: Got a steep college bill? What to do nowIf you’re a parent who’s been hit with financial body blows because of a job loss, depreciated assets or even just higher-than-expected tuition, you may be worried about how to pay the college bills coming due now.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 4:36 pm Consortium in $4bn deal for Extended StayA Centerbridge-led group, which includes Blackstone and funds controlled by John Paulson, agrees to acquire the bankrupt hotel chain Extended Stay HotelsSource: Financial Times - US homepage | 28 May 2010 | 4:32 pm Foxconn to raise salaries 20% after suicidesThe world’s largest electronics contract manufacturer is planning to raise wages for its workers by about 20 per cent following several suicides at its southern China plantSource: Financial Times - US homepage | 28 May 2010 | 4:26 pm Personal Finance Daily: Good news on gas prices, but stocks? Not so muchLooks like gasoline prices will be on the low side this weekend, and maybe even through June, but whatever money you save at the pump probably won’t make up for what you lost in the stock market.
Source: MarketWatch.com - Top Stories | 28 May 2010 | 4:25 pm Tesla's Elon Musk runs out of cashSilicon Valley icon and Tesla Motors CEO Elon Musk's bank account has run dry and he's been living off his friends' money, according to court documents.Source: Business and financial news - CNNMoney.com | 28 May 2010 | 4:18 pm Dow ends worst May in 70 yearsStocks cut losses but finished in the red Friday, ending a dismal month that saw the Dow Jones industrials suffer their worst May in 70 years, after a downgrade of Spain's debt reminded investors that Europe's economic woes continue.Source: Business and financial news - CNNMoney.com | 28 May 2010 | 4:11 pm What to Do When Your Car Model Is Scrapped (Consumer Action)Here's how to cope if Ford pulls the plug on its Mercury brand.
Source: SmartMoney.com | 28 May 2010 | 4:08 pm Stocks retreat as Fitch downgrades Spain's debt (AP)
Source: Yahoo! News: Business News | 28 May 2010 | 4:03 pm Stocks retreat as Fitch downgrades Spain's debt (AP)
Source: Yahoo! News: Stock Markets News | 28 May 2010 | 4:03 pm The Friday Podcast: Can A Public Radio Shirt Be Cool? Like Justin Timberlake, Planet Money wants to bring sexy back. (Andrew Shawaf/PacificCoastNews.com) We're making a t-shirt. So what? Everybody makes a t-shirt. But here's the thing: We want to make a cool t-shirt. A shirt you'll wear for something other than going to the gym. And we need your help. On today's podcast, we take a field trip to Barney's. (Do you have any idea what they charge for a t-shirt there?) Our guide is Claire Hamilton, a trend analyst at a company called WGSN. And we talk to Ed Jay, a senior VP at American Express. He gathered data about 100,000 people who used their AmEx card to donate to public radio, and told us what other kind of stuff they bought. American Express sells this kind of information to businesses that want to know more about their customers. (American Express doesn't track individual purchases, by the way. They aggregate information from large groups of people to draw broad conclusions about spending habits.) So now we have some ideas. But we need to hear from you. Send us your designs. Be creative. Use the whole shirt as a canvas. It doesn't have to say "Planet Money" in big letters. Remember: This is a shirt you'd wear to go somewhere other than the gym. We'll pick some finalists and give everyone a chance to vote. The winner will get a t-shirt. And some other prize that we haven't figured out yet. Download the podcast, or subscribe. Music: Lady Gaga's "Fashion." Find us: Twitter/ Facebook/ Flickr. Take the Planet Money survey. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 May 2010 | 4:00 pm Fresh downgrade for Spanish debtFitch becomes the second agency to downgrade Spain's credit rating, citing the country's poor growth prospects.Source: BBC News | Business | World Edition | 28 May 2010 | 3:58 pm Oil industry lashes out at drilling banThe extended ban on deep water oil drilling could have broad economic consequences, an industry group said Friday, leading to potential job losses and higher energy prices.Source: Business and financial news - CNNMoney.com | 28 May 2010 | 3:54 pm NY Stock Exchange delists 4Kids Entertainment (AP)AP - Shares of children's entertainment licensing company 4Kids Entertainment Inc. are being delisted from the New York Stock Exchange because the company's market capitalization has fallen.Source: Yahoo! News: Stock Markets News | 28 May 2010 | 3:32 pm Insider Trading, Flagstar Bancorp, Luxury Travel: Taking StockSource: Bloomberg - All Podcasts | 28 May 2010 | 3:31 pm How the major stock indexes fared on Friday (AP)AP - Stocks closed out their worst month in more than a year by sliding again on more unsettling news about Europe.Source: Yahoo! News: Stock Markets News | 28 May 2010 | 3:28 pm BA talks finish without agreementTalks between British Airways and the Unite union to avert further strike action end without a breakthrough.Source: BBC News | Business | World Edition | 28 May 2010 | 3:07 pm India's Poor Aren't Getting Richer. Here's Why. Umrao Singh, a cobbler in Delhi, isn't cashing in on India's economic growth. (David Kestenbaum/NPR) Here's the latest dispatch Planet Money's David Kestenbaum brought back from India. A version of this story is also airing today on All Things Considered. India's economy is growing fast. The country's producing billionaires. But there are still hundreds of millions of poor Indians who don't even have electric power to switch on a lightbulb. And the gap between rich and poor is getting wider. So here's the question: Is that just what happens in fast-growing economies? Or is there something wrong in India? In Delhi, you can walk by a construction site where a mansion's being built -- three floors, bathrooms with Italian marble, a swimming pool in the basement -- then turn the corner and meet a short old man, furiously polishing shoes. His name is Umrao Singh. He says he's 75 years old. His store, if you want to call it that, is the space between two stacks of bricks that function as walls. Singh figures he makes maybe $2 a day. He sleeps on the ground in his shop. If he gets sick, he eats the leaves from a nearby tree. "Nothing I can do about it," he says. "I think what is written is written and you cant change it." The usual route for poor people to stop being poor is to find new, higher-paying jobs as the economy grows. Typically, for the very poorest, the first rung on that ladder is a manufacturing job. "I'm not romanticizing manufacturing jobs," says Partha Sen, director of the Delhi School of Economics. "But so far as I know the only way out of poverty for hugely overpopulated economy is through manufacturing." But India's manufacturing industry is small. And the parts of the economy that are growing, like the IT sector, aren't creating the kind of jobs that people from the villages can get. Umrao Singh, the cobbler, can't work in a call center. I went back to hang out with Singh that night. He was cooking some Indian flat bread on top of a stove made of bricks that he'd set up over a manhole cover. Singh told me he's content with what he has. But then his neighbor piped in. "Remember how you told me," the neighbor says, "that in the next life, you wanted to be born into one of those nice apartments across the street?" They both laughed. Check out Kestenbaum's previous India stories: * The Economics Of Bribing A Cop » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 May 2010 | 2:56 pm Spending stalls, but confidence and incomes gainWASHINGTON (Reuters) - U.S. consumer spending unexpectedly stalled in April after six straight months of gains, but rising income and consumer confidence pointed to solid consumption this quarter.
Source: Reuters: Business News | 28 May 2010 | 2:49 pm Retirement Roundup: Wise Move or Mistake?Advice on avoiding some hidden money traps, and other news for retirees.
Source: SmartMoney.com | 28 May 2010 | 2:46 pm Stocks off on Spain downgrade; Dow off 8% in MayStocks closed out their worst month in more than a year by sliding again on more unsettling news about Europe.
Source: L.A. Times - Business | 28 May 2010 | 2:45 pm Barclays sells US mortgage collection operation (AP)AP - Barclays Bank said Friday it would sell off its American mortgage collection operation for $1.3 billion in cash, exiting a business it acquired nearly four years ago before the mortgage market went bust.Source: Yahoo! News: Business News | 28 May 2010 | 2:42 pm Wall Street slides on Spain downgradeNEW YORK (Reuters) - Stocks fell on Friday, capping off their worst month in over a year as a downgrade by Fitch of Spain's credit rating reignited worries about euro-zone debt issues.
Source: Reuters: Business News | 28 May 2010 | 2:41 pm Wall Street slides on Spain downgrade (Reuters)
Source: Yahoo! News: Stock Markets News | 28 May 2010 | 2:41 pm Thanks for Nothing, China. Really. (Ahead of the Curve)Luskin: China's nod to European bonds defuses a crisis, for now.
Source: SmartMoney.com | 28 May 2010 | 2:39 pm Fitch downgrade caps miserable week for SpainMADRID (Reuters) - Fitch cut Spain's credit rating by one notch on Friday, sending markets lower and capping a horrible week for a government struggling to convince investors it can solve its economic woes and avoid a Greek-style debt crisis.
Source: Reuters: Business News | 28 May 2010 | 2:28 pm Lloyds in legal battle with celebrities over golf courseBank accused of fraud, negligent misrepresentation and breach of fiduciary duty over plans to sell Loch Lomond Golf Course.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 2:27 pm Fitch downgrades Spain's credit ratingSpain's economic woes deepen after Fitch downgrades its credit rating from AAA to AA+ in a move that could provoke panic in global stock markets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 2:16 pm Jobless benefits to expire as Senate recessesFor the nation's unemployed, here we go again.Source: Business and financial news - CNNMoney.com | 28 May 2010 | 2:08 pm BP will remain stuck in muddy waters whether Hayward stays or goesFirst thought. This mud stuff BP's pumping sure is expensive. Next thing someone will start drilling for it. Or trading it, maybe. Just look at the cost.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 1:40 pm Fitch slashes Spain's credit ratingFitch downgraded Spain's sovereign debt to a lower investment grade Friday, adding to continued concerns about European contagion.Source: Business and financial news - CNNMoney.com | 28 May 2010 | 1:39 pm Can Apple save Apple TV?Source: Business and financial news - CNNMoney.com | 28 May 2010 | 1:38 pm 3 great places to score a summer vacation deal1. DublinSource: Business and financial news - CNNMoney.com | 28 May 2010 | 1:35 pm Three U.S. cities on the brink of brokeSeveral downtrodden cities are on the verge of defaulting on their debt, putting financially encumbered states and taxpayers on the hook to pick up the tab. The National League of Cities says municipal governments will probably come up $56 billion to $83 billion short between now and 2012. That's the tab for decades of binge spending; municipal defaults could be our collective hangover.Source: Business and financial news - CNNMoney.com | 28 May 2010 | 1:29 pm Pop Idol creator Simon Fuller teams up with banker Roger Jenkins to buy back franchiseIdol creator and former Barclays Capital banker Roger Jenkins submit $600m bid for CKx, the US company that owns the rights to the franchise.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 1:20 pm Getting PersonalHost Steve Chiotakis and MSN Money columnist Liz Pulliam Weston take your questions on how to ask a parent to co-sign a student loan, what to do after a co-signed parent declares bankruptcy and why paying off debt too quickly doesn't have any drawbacks, despite urban myths to the contrary.Source: Marketplace Money | 28 May 2010 | 1:16 pm Brazil Will Win The World Cup. Bankers Said So.By Carolyn Beeler Financial analysts are engaging in a bit of escapism this spring. Analysts at JP Morgan, Danske Bank, UBS and others have momentarily turned their attention away from the markets to predict the winner of this year's World Cup. Three out of four big banks that chose a winner picked Brazil, the Financial Times reports. Danske seems to be taking the econ/soccer comparison a bit too far: They predict a Germany versus Brazil final and write that "as in 'real life' the Emerging Market nation will beat the developed nation." For our readers who think Planet Money needs to use more ridiculous equations, here's the model the Danish bank used to predict the winner: 
The measurements are all about relative strength. The GDP variable, for example, measures GDP per capita relative to the U.S. For those of you keeping score at home, the "Ballon d' Ore nominee" variable attempts to measure the presence of a "superstar" on the team. Very scientific stuff. There's a complete explanation on p. 4 of this PDF. Think you come up with a better formula for victory? What variables did Danske leave out? Leave us your ideas in the comments section. Update: Thanks to the commenter who pointed out that the original headline on this post was missing the word "win." » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 28 May 2010 | 1:14 pm How to come clean with your taxesIf you didn't pay your taxes for the last 20 years and have a guilty conscience, Nina Olson, the IRS' taxpayer advocate, let's you know how to 'fess up, which may not be as painful as you'd think.Source: Marketplace Money | 28 May 2010 | 1:13 pm College costs, quadrupledIt's tough enough trying to raise one child and see her through college, but Tab and Debbie Thompson did just that with quadruplets who graduated just graduated from Texas A&M.Source: Marketplace Money | 28 May 2010 | 1:06 pm Are kids worth the money?Raising kids today isn't a cheap endeavor -- and some argue that you don't get your money's worth -- but Chris Farrell thinks raising kids is more affordable and is worth the money.Source: Marketplace Money | 28 May 2010 | 1:06 pm How walkable is your neighborhood?One software company is trying to to quantify who walking-friendly an area is and make it a more visible factor for people shopping for a home.Source: Marketplace Money | 28 May 2010 | 1:06 pm A nice house or a short commute?Reporter Andrea Bernstein looks into the challenge of trying to strike a balance between work commute and cost of rent.Source: Marketplace Money | 28 May 2010 | 1:06 pm A busier travel season this summer?With summer kicking off this Memorial Day weekend, Steve Chiotakis talks to Anne Banas of SmarterTraveler.com to get a forecast on this summer's travel industry and tips on how to save before you hit the road or take to the air.Source: Marketplace Money | 28 May 2010 | 1:06 pm Unilever Raised to `Buy,' DJSP Enterprises Cut to `Hold': AudioSource: Bloomberg - All Podcasts | 28 May 2010 | 1:03 pm Gulf of Mexico oil leak 'halted' amid fears BP could face hefty finesBP moves closer to plugging leaking well, but its shares fell 5pc on fears that alleged safety failings will leave it open to hefty liabilities.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 1:00 pm To pay or not to pay?Panera Bread Co. opened a new location in St. Louis and let its customers decide what they want to pay. Sounds like a free lunch, but as Steve Chiotakis talks to Vickie Morwitz, people still decide to pay.Source: Marketplace Money | 28 May 2010 | 12:55 pm Bullion has not yet lost its shine for goldbugs (FT.com)FT.com - Gold looks like a classic investment bubble. Not just any mania, but the best-known bubble of the 20th century: the Dow Jones Industrial Average before it spectacularly blew up in 1929. Since the start of 2006, rises in the gold price have been spookily similar to the Dow's run up to 1928. Charts of gold soaring also look remarkably like the build-up to the 2008 oil price bubble. And the dotcom boom. ...Source: Yahoo! News: Stock Markets News | 28 May 2010 | 12:50 pm Good riddance May. Now go away! - The BuzzIt's the last trading day of May. Thank goodness.Source: Business and financial news - CNNMoney.com | 28 May 2010 | 12:44 pm HSBC pay rises 'unacceptable', says major shareholder Standard Life InvestmentsOne of HSBC's largest shareholders has branded the bank's decision earlier this year to increase the salaries of some of its most senior managers as "unacceptable", while more than 20pc of investors absented or voted against the bank's latest remuneration report.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 12:42 pm Pilkington moving on from St James HQIs Prince Charles going to find himself with a new neighbour? I understand glass maker Pilkington has moved out of its prestigious London headquarters Selwyn House, overlooking Green Park.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 12:27 pm Whitehall should involve civil servants in cost-cutting plans, private sector chiefs sayCivil service staff should become directly involved in the hunt for savings across Whitehall, according to private sector businesses who struggled during the recession.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 12:24 pm Prudential investors tell board to cut price of $35.5bn AIA dealPrudential has been warned by its leading investors that any failure to cut the price of its $35.5bn (£24.5bn) deal for AIG's Asian business will spell the end of the takeover.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 12:21 pm Subprime could be best warning of US contagionA rise in the ABX index could be the first key sign that US banks are under pressureSource: Financial Times - US homepage | 28 May 2010 | 12:21 pm Shell expands US shale gas reserves with $4.7bn purchase of East ResourcesRoyal Dutch Shell, the energy major, has almost doubled its reserves of shale gas with the $4.7bn (£3.2bn) acquisition of East Resources.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 May 2010 | 12:10 pm Fitch downgrades Spain’s credit ratingFitch, the credit rating agency, on Friday downgraded Spain’s sovereign debt because of its sluggish economic growth outlook, immediately pushing down the euro and world stock markets amid doubts about the prospects for weaker southern European economiesSource: Financial Times - US homepage | 28 May 2010 | 12:06 pm Signs Of The Apocalypse: Fitch Downgrades SpainJust in time for the US three-day Memorial Day weekend, Fitch has downgraded Spain’s long-term foreign and local currency issuer default ratings to AA+ from AAA. The news wrecked the American market pushing down stocks 1.1% in light afternoon trading. The Spanish government recently released data the it would miss its GDP forecasts. It said [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 12:05 pm Prudential investors warn over AIA voteSeveral of the Prudential’s biggest investors have warned they will still vote against its $35.5bn takeover of AIA, in spite of attempts by the UK life assurer to cut the price of the dealSource: Financial Times - US homepage | 28 May 2010 | 12:00 pm Who are hospital ads really aimed at?Hospitals spend well over a billion dollar a year on TV, radio, bus and billboard ads. So what's all that money buying? Gregory Warner reports.Source: Marketplace | 28 May 2010 | 11:52 am Why you're paying more for beefGot extra change? You'll need it this Memorial Day weekend when stocking up on your grilling supplies. Erika Aguilar reports beef prices are nudging up.Source: Marketplace | 28 May 2010 | 11:52 am Weekly Wrap: Stocks and banksFelix Salmon from Reuters and John Carney, senior editor at CNBC, talk with Bob Moon about what to make of the stock market plunging in May and the proposal for banks to report the true value of their loans.Source: Marketplace | 28 May 2010 | 11:51 am Lawmakers debate pension gov't aidLawmakers in Washington are considering an offer of limited government help for a pension plan favored by truckers and construction workers that's been hit hard by the financial crisis. But that could create a precedent for taxpayer bailouts of struggling pension plans. John Dimsdale reports.Source: Marketplace | 28 May 2010 | 11:51 am A tricky time for Toys 'R' Us to go publicToys "R" Us is growing up. It plans to go public. The toy seller was a public company five years ago, but then it was one of many companies bought by private investors during boom times. Jeff Horwich reports this is a sticky time for the toy retailer to try to get its money back.Source: Marketplace | 28 May 2010 | 11:51 am Will Ford shut down its Mercury brand?You may have driven a Ford lately, but probably not a Mercury. Mercury sales are down 74 percent over the last decade, and reports say Ford plans to close down the Mercury brand. Brett Neely reports.Source: Marketplace | 28 May 2010 | 11:51 am Impact of jobless benefits running outThere are now more than 10 million people nationwide getting unemployment checks. And with federal subsidies, the maximum length of time they can keep getting a check is 99 weeks. But people may run out of benefits before they reach that point because Congress hasn't acted to keep funding the program. The House passed a bill to extend benefits, but the Senate left town without doing anything.Source: Marketplace | 28 May 2010 | 11:51 am How Much Will The Worst Oil Spill In U.S. History Cost?The oil spill in the Gulf of Mexico has cost $930 million so far , BP said this morning. It's too soon to say how much the spill will eventually cost. But it will be a lot more than $930 million. The number released this morning includes "the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid and federal costs" to date, the company said. But the seafood and tourism industries alone are likely to lose billions of dollars in revenue because of the spill, the Miami Herald reports this morning. Federal law currently caps oil companies' liability at $75 million per spill; Congress is debating raising the cap to $10 billion, as NPR noted earlier this week. BP, for its part, has said it will "pay all necessary response costs and is committed to paying legitimate claims for other loss and/or damage caused by the Deepwater Horizon incident." One bill introduced in Congress would essentially write this promise into law, requiring BP to pay liability claims over $75 million. The company is certainly big enough to survive paying billions of dollars in spill-related costs. It made a profit of $17 billion last year, on revenue of $246 billion. Still, its stock has fallen sharply since the spill. That could make it a possible takeover target for Shell or Exxon/Mobil, which are even bigger than BP, Reuters notes. Of course, such a deal would have to win the approval of government antitrust regulators. They might be wary of Big Oil Turning into what Reuters calls "Even Bigger Oil." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 May 2010 | 11:50 am Industries keep eye on financial reformIt's just not Wall Steeters who are keeping a close eye on the financial reform bills Congress is reconciling, but car dealers, farmers and airlines. Steve Chiotakis speaks to Marketplace's Washington correspondent, Nancy Marshall-Genzer.Source: Marketplace Money | 28 May 2010 | 11:50 am Virgin Blue cuts forecastVirgin Blue sharply lowered its guidance for 2009/10 full-year profit before tax and exceptional items from A$80 million ($99 million) to between A$20 million and A$40 million. The airline, which hopes to form a transtasman alliance...Source: nzherald.co.nz - Business | 28 May 2010 | 11:50 am This Week’s LinksThe Atlantic has the net worth of US presidents, from Washington to Obama. Matt Taibbi’s latest: Bernanke as Goblin-in-Chief. Inc has a list of the best industries for starting a business this year. Also from Inc.: Why is business writing so awful?
Source: Business Pundit | 28 May 2010 | 11:37 am Steve Hanke, Anthony Dwyer: Bloomberg On the EconomySource: Bloomberg - All Podcasts | 28 May 2010 | 11:32 am A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Friday:Source: Yahoo! News: Stock Markets News | 28 May 2010 | 11:28 am 12 Memorial Day BBQs from HellReady for Memorial Day? Make sure your backyard BBQ looks nothing like the ones below, unless you never want your friends and family to visit you again: $$$ Steve Wynn Takes on Washington, Vegas & EBITDA [CNBC] $$$ Canada Home Foreclosure Wave Not Likely [Financial Post] $$$ Free Financial Advice To The Stars Re: Ponzi Schemes [TRB] $$$ Gary Coleman Dead At 42 [NYT] $$$ Street CEOs Still Not Facing Reality, Angelides Says [FBN] $$$ District Attorney Vance Announces Corporate theft and Securities Fraud Charged Filed By Major Economic Crimes Bureau [DAO] $$$ “FYI: UBS’er iced this morning. UBS still sucks.” $$$ Much of Starr’s credibility came from Pete Peterson’s endorsement—he would frequently tell prospective clients to “check me out with Peterson” to put them at ease and get them to open their wallets, this source says. [TDB] $$$ That’s it for us today. Have a nice weekend and see you Tuesday! May Estimated Net Performance Letter [PDF] Master of Blows
Penn grad, a martial-arts buff,charged with cultivating a marijuana business [Philly.com] 
 Source: Dealbreaker | 28 May 2010 | 10:12 am Politics and Offshore Drilling (BP, CVX, XOM, RDS-A)At President Obama’s news conference yesterday, he admitted that he and his administration’s response to the blow-out of the BP plc (NYSE:BP) Macondo well in the Gulf was wrong. At the same time, he announced that he was suspending exploratory drilling on 33 Gulf projects and canceling or suspending new lease sales and proposed drilling [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 10:05 am Greenhill Capital Partners Employee Ices Dustin Diamond
Earlier: Goldman Sachs Not Only Wall Street Firm To Get In On Icing Phenom
Source: Dealbreaker | 28 May 2010 | 10:02 am Toys R Us set to go public againUS retailer Toys R Us plans to become a public company again - with a flotation it hopes will raise up to $800m.Source: BBC News | Business | World Edition | 28 May 2010 | 10:00 am Beware of the bear marketIt has taken just one month for the New Zealand sharemarket to wipe out the gains made since July last year. On Tuesday the NZX-50 hit a new low of 3003.83 points - a 10 per cent drop since the most recent high on April 14, and...Source: nzherald.co.nz - Business | 28 May 2010 | 10:00 am F&P to reduce focus on Elba brand in NZFisher & Paykel Appliances, which yesterday reported a full-year loss of $83.3 million, has announced it will scale down its low-end Elba brand in New Zealand.The company spent $158 million on its purchase of Italian stove maker...Source: nzherald.co.nz - Business | 28 May 2010 | 10:00 am Close shave with a sharp talkerWill King is the sort of geezer who could talk the beard off Moses. He's a one man barber-shop chorus; promoting himself and his King of Shaves brand as the Richard Branson of shaving, and likening it to the iPod, the iPhone,...Source: nzherald.co.nz - Business | 28 May 2010 | 10:00 am Liam Dann : Plenty to get excited about as Telecom faces up to inevitableTelecom, which hit another all-time sharemarket low this week ($1.85 for anyone who can still bear to look) appears to be nearing the end of its natural life - at least in its current form as the monolithic company we've loved to...Source: nzherald.co.nz - Business | 28 May 2010 | 10:00 am Brian Gaynor : Red faces over debacle of stolen hotelThe Millennium & Copthorne annual meeting, which was held in Auckland on Wednesday, was a remarkable event as directors struggled to explain how one of its hotels has been stolen.That's right; a newly acquired China hotel has...Source: nzherald.co.nz - Business | 28 May 2010 | 10:00 am Luxury cars back in vogue with US buyersTrader Craig Poler couldn't hold out any longer. Browsing at a dealership in Greenwich, Connecticut, he spotted the US$130,000 ($190,000) Aston Martin Vantage Coupe he had been dreaming about for months."The second I saw it I...Source: nzherald.co.nz - Business | 28 May 2010 | 10:00 am Jaguar to assemble cars in ChinaCarmaker Jaguar Land Rover is going to start assembling vehicles in China, the BBC confirms.Source: BBC News | Business | World Edition | 28 May 2010 | 9:52 am Toys ‘R’ Us: Flat Revenue, Bad IPOToys “R” Us has filed its S-1 with the SEC as it prepares its IPO. The retailer plans to raise $800 million. The company has been private for half a decade. It’s time to pay down debt and let the private investors get liquidity. On July 21, 2005, Toys “R” Us was acquired by an [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 9:44 am More Money or More Friends? Pick One (Money and Your Mind)When it comes to happiness, money matters -- but not the way you think.
Source: SmartMoney.com | 28 May 2010 | 9:38 am Hunter, Miller, Teplitzky, Achuthan, Widner: SurveillanceSource: Bloomberg - All Podcasts | 28 May 2010 | 9:34 am A Word Of Advice To Those Considering Taking Up Insider Trading, Courtesy Of Pequot
Source: Dealbreaker | 28 May 2010 | 9:00 am Network TV Ad Sales Stronger Than Expected (CBS, NWS, DIS, GE)The broadcast TV networks’ dog-and-pony show knows as the “upfront market” has gotten off to a good start this year. Advertisers get to see the coming season’s new TV shows and then mull over whether or not to buy advertising time on the shows. Advertisers have already indicated that they plan to increase spending this [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 8:58 am European stocks climb after big Wall Street gains (AP)
Source: Yahoo! News: Stock Markets News | 28 May 2010 | 8:38 am US consumer savings jump to highest level since JanuaryConsumer spending stagnated in April as workers kept a tighter grip on their wallets and sought to rebuild their savingsSource: Financial Times - US homepage | 28 May 2010 | 8:31 am Vanguard Cuts Fees to Buy, Sell ETFs: AudioSource: Bloomberg - All Podcasts | 28 May 2010 | 8:15 am Rethinking Offshore Drilling (Market Update)WHAT'S HAPPENING NOW: With drilling halted, what happens to BP and Royal Dutch Shell?
Source: SmartMoney.com | 28 May 2010 | 8:05 am Chicago Purchasing Managers, Prelude to Weak ISMIf you were wondering how long it would take for all the trouble in Europe to spill over into manufacturing orders, wait no longer. It already has. At least that is what the indication is via the old latest Chicago Purchasing Managers figures. The adjusted index came in at 59.7 versus the Bloomberg consensus reading [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 8:04 am Warren Buffett Gets An Offer He Can't RefuseBy Jacob Goldstein Warren Buffett's testifying at a hearing next week on the role of ratings agencies in the financial crisis. But not by choice. A few weeks back, Buffett got a letter from the Financial Crisis Inquiry Commission. The letter asked if Buffett was willing to be interviewed in private to discuss his views on derivatives, ratings agencies and other issues. After that, the letter said, "we may request that you appear before the Commission at a hearing." Buffett had his assistant reply that, while he was flattered by the invitation, he was busy running Berkshire Hathaway and would be unable to speak to the commission. (Berkshire owns a big chunk of Moody's, a ratings agency.) He believed that a private interview, followed by hearings, would not be a good use of anyone's time, according to a story in Fortune by a writer identified as a friend of Buffett's and a Berkshire shareholder. After a bit more back and forth, the FCIC apparently gave up on asking nicely. Earlier this week, Buffett received a subpoena from the commission. "YOU ARE HEREBY COMMANDED to appear and give testimony," it said. So Buffett will testify next Wednesday afternoon at session called "Credit Ratings and the Financial Crisis." He'll be joined by the CEO of Moody's. For more on ratings agencies and the the crisis, check out The Watchmen a Planet Money project that aired last year on This American Life. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 May 2010 | 7:40 am Toys R Us plans to raise up to $800m in IPOThe US children’s toy retailer announces plans for a market listing, the latest in a series of share sales by companies sold to private investors during the private equity boomSource: Financial Times - US homepage | 28 May 2010 | 7:37 am Opening Bell: 05.28.10
Goldman Seeks To Avoid Fraud Charge In SEC Deal (WSJ) NYC adviser to celebrities is charged with fraud (AP) Uma’s Blond Fury At Starr (NYP) French minister says bailout alters EU treaty (FT) Credit Suisse, UBS, Barclays May Provide Refuge From Europe’s Debt Storm (Bloomberg) Quant Model Predictions For World Cup Winner (FT Alphaville)
Source: Dealbreaker | 28 May 2010 | 7:20 am This Week’s Weird Jobs
Gong, kanji, smart people, and brain surgery all made it into this week’s weird jobs. But the most poignant one is at the top: 1. Austin: please help me win my wife back I am a white man who is 46 years old. I’m a dad of teenagers. Middle class. My wife of many years and I are having big fights, and I want to woo her back. Part of the plan is to not look like the 46-year-old slob that I fear she sees. I’m no bumpkin–but I’m no metrosexual, either. Honestly, I’m clueless as to fashion, looks, etc. So what I’m hoping to find: someone (in my mind, it’s a woman in her 30s who is young enough to be hip and mature enough to understand me) who will spend a day with me making me more attractive to my wife. If this sounds weird to you, please don’t respond. If you find this ridiculous, please move on. But if you want to help a decent guy who is in love with his wife, please write. She’s back in town on Wednesday–I want my hair and skin and clothes and whatever else to look awesome by then. I will pay $200 for 8 hours of consulting. You would need to listen to me about the things I know she likes (like curls at the back of my hair), and not try to make me look like I’m 20-something, or anything else I’m not. But I’m very open to a fresh perspective. And, of course, you would need to be respectful, and in earnest. When you get right down to it, we’re all just really trying, right? I need some help. I’m no creeper–I’m not trying to meet someone, or whatever–maybe you’re not a 30-something woman, maybe you’re a 20- or 80-something gay man or whatever–I don’t care. I’m just a middle-aged guy who needs some help in looking as best he can (which won’t be much) to try to win his wife back. If you can help, please get in touch. It’ll be a challenge: I have braces, and a bald spot! Well, you play the hand you’re dealt. My wife is the love of my life, and I want nothing more than to be the best I can be for her. Thanks for reading–I hope you can help– I doubt that looks are the main problem between this guy and his wife, but you can’t fault him for trying his best. 2. Idaho: I need someone who can write kanji I need someone who can write the date February 14, 1995 in kanji. Please call or email. Bringing a Kanji instruction book (or your iPad) and tracing paper don’t count. 3. Gong Ringer By the way, I prompt you with a long, pointy stick, and the gong is to time my naked yoga. Don’t say I didn’t warn you. 4. NY: WE NEED A SMART PERSON ‘Cuz we don’t have any smart people there right now. 5. Atlanta: Brain Surgery Intern If you have your own surgery tools and anesthesia, that is a plus and you move to the front of the line. Please only respond if you are SERIOUS. You must be a team player and have your own car. Happy Friday!
Source: Business Pundit | 28 May 2010 | 7:06 am Daniel Okrent Discusses His Book `Last Call': Lewis LaphamSource: Bloomberg - All Podcasts | 28 May 2010 | 7:04 am Hughes on European Debt Crisis, Max King on Stocks: First WordSource: Bloomberg - All Podcasts | 28 May 2010 | 7:01 am Today’s Best Market Rumors 5/28/2010Updated throughout the day. A group led by Centerbridge Partners has won the bidding for Extended Stay (NYTimes) The Walt Disney Co (NYSE: DIS) may not be able to find a buyer for ABC (Reuters) Goldman Sachs Group (NYSE: GS) is trying to settle with the SEC based on lower charges than those made by [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 7:01 am Top Day Trader Alerts (AAPL, BCSI, BP, CKXE, GES, JTX, MENT, OVTI, VVUS)Today’s day trader and active trader alerts are moving some on earnings and some on other news. The big pre-market movers seen early this morning are Apple Inc. (NASDAQ: AAPL), Blue Coat Systems (NASDAQ: BCSI), BP plc (NYSE: BP), CKX Inc. (NASDAQ: CKXE), Guess? Inc. (NYSE: GES), Jackson Hewitt Tax Service Inc. (NYSE: JTX), Mentor [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 6:59 am The Twitter-24/7 Wall St. Stock Market Report 5.28.2010 The Wisdom Of Crowds?Updated throughout the day. Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million Twitter users. It raises the question of whether there is wisdom in crowds. 24/7 Wall St. will [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 6:47 am Top Analyst Upgrades and Downgrades (IRE, BCSI, FNFG, MON, OVTI, PG, RHT, TGT, WFC, WMT)These are some of this morning’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Friday morning: Bank of Ireland (NYSE: IRE) Raised to Buy at UBS. Blue Coat Systems (NASDAQ: BCSI) Cut to Market Perform at Wells Fargo. First Niagara Financial (NASDAQ: FNFG) Started as Outperform at FBR. Monsanto Co. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 May 2010 | 6:28 am World stocks, euro extend recovery (AFP)
Source: Yahoo! News: Stock Markets News | 28 May 2010 | 4:50 am One Interpretation of Facebook’s New Privacy Features
Source: Business Pundit | 28 May 2010 | 4:47 am Profiting When Growth Meets ValueArthur Moretti sees opportunity in the convergence between growth and value.
Source: SmartMoney.com | 28 May 2010 | 3:01 am Where Have All the IPOs Gone? (Broker Talk)Market volatility has created a hostile environment for going public.
Source: SmartMoney.com | 28 May 2010 | 3:01 am
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