|
|
|
|
US begins criminal probe of spillOil firm BP says its latest attempt to cap the oil spill is under way, as the US government announces a criminal investigation.Source: BBC News | Business | World Edition | 2 Jun 2010 | 4:18 am Indications: U.S. futures climb as employment data takes focusU.S. stock futures up Wednesday as employment data captures the spotlight two days ahead of the government’s key report, with the release of jobs-related statistics from Challenger.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 4:14 am Foxconn raises wages in China by 30%Foxconn employees in China will get a 30 per cent pay rise, after a string of deaths at the Taiwanese group’s Shenzhen manufacturing hub focused attention on working conditionsSource: Financial Times - US homepage | 2 Jun 2010 | 4:11 am BP Disaster: What If No One Is At Fault?It is a legal practice, although perhaps not a principle, the someone or some entity, is at fault whenever something goes wrong. This extends from medical malpratice to car recalls to man-made disasters. The result of this approach to liability is the companies try to shift blame for an accident, when they can. In the case of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jun 2010 | 4:03 am Apple boss defends iPhone factorySteve Jobs has defended conditions at a Taiwanese electronics manufacturer producing Apple products, following a spate of suicides.Source: BBC News | Business | World Edition | 2 Jun 2010 | 3:52 am Honda China parts plant restarts, walkout threatenedFOSHAN, China (Reuters) - Honda Motor said a key car parts factory in south China resumed full production on Wednesday, ending more than two weeks of disruption after workers downed tools to demand higher wages in a high-profile and sometimes violent strike.
Source: Reuters: Business News | 2 Jun 2010 | 3:47 am Lukoil's quarterly profit doublesLukoil, Russia's largest private oil company, reports a jump in quarterly profit thanks to higher oil prices.Source: BBC News | Business | World Edition | 2 Jun 2010 | 3:45 am Hatoyama quits after losing party supportThe Japanese prime minister bows to pressure from within his ruling Democratic party and announces his decision to resign after opinion polls show his support slumpingSource: Financial Times - US homepage | 2 Jun 2010 | 3:40 am Huge order for Iridium spacecraftThe mobile satellite services provider Iridium orders 81 spacecraft to upgrade its global network in a $2.9bn deal.Source: BBC News | Business | World Edition | 2 Jun 2010 | 3:39 am Red Knights' Man Utd bid shelvedThe Red Knights group of wealthy supporters mulling a takeover of Manchester United shelves plans to make a bid for the club.Source: BBC News | Business | World Edition | 2 Jun 2010 | 3:37 am Will Every Foreign Worker In China Get A Raise? Will Every Chinese Worker?There has been an extraordinary number of suicides at Chinese electronics company Foxconn which does a great deal of work for Apple Inc. (NASDAQ: AAPL). Foxconn recently raised employee salaries by 30% which may address some of the workers stress. The increase compensation is meant to reduce overtime. That overtime is seen as a cause of employee anxiety. In [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jun 2010 | 3:36 am UK mortgage lending edges higherMortgage lending crept up in April compared to the previous month, according to the Bank of England.Source: BBC News | Business | World Edition | 2 Jun 2010 | 3:35 am Tata Motors opens new factory for Nano car (AP)
Source: Yahoo! News: Business News | 2 Jun 2010 | 3:31 am Lukoil reports quarterly profit of $2.05 bln (AFP)
Source: Yahoo! News: Business News | 2 Jun 2010 | 3:25 am Prudential abandons bid for AIAUK insurer Prudential confirms that its plans to buy AIA, the Asian business of US insurer AIG, have been scrapped.Source: BBC News | Business | World Edition | 2 Jun 2010 | 3:24 am The Unions Ready To Go After DeltaAirline mergers always bring labor unrest. One of the purposes of industry marriages is to cut costs, and that almost always involves firing workers. The most important tool that airline workers have in the battle to save jobs is work stoppages. British Airways, in the midst of a massive labor walkout, has found out the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jun 2010 | 3:18 am Prudential ends $35.5 billion Asian takeover bidHONG KONG (Reuters) - Britain's Prudential has abandoned its plan to buy AIG's Asian life unit AIA for $35.5 billion, bowing to shareholder criticism over the price it had agreed to pay and leaving its management under fire.
Source: Reuters: Business News | 2 Jun 2010 | 3:17 am Prudential ends $35.5 billion Asian takeover bid (Reuters)
Source: Yahoo! News: Business News | 2 Jun 2010 | 3:17 am Foxconn raises worker pay by 30 pct after suicides (AP)
Source: Yahoo! News: Business News | 2 Jun 2010 | 3:17 am Hot Bonds: Neither Long- Nor Short-TermIntermediate-term bonds remain popular -- with returns around 9%.
Source: SmartMoney.com | 2 Jun 2010 | 3:16 am Hong Kong, Australia fall as Japan slips backSome of Asia’s major stock markets closed lower Wednesday, with a brief climb in the Japanese market giving way to a decline after traders had time to digest the resignation of the country’s prime minister.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 3:16 am Retailers Enter the Cellphone Fray (Deal of the Day)Want a cheap handset? Visit the nearest electronics store.
Source: SmartMoney.com | 2 Jun 2010 | 3:15 am How to Score Duty-Free Bargains (Deal of the Day)Discounts can top 50%, but items can also cost more than you'd pay at home.
Source: SmartMoney.com | 2 Jun 2010 | 3:14 am Israel begins deportations of Gaza activistsIsrael has started deporting the 680 activists who participated in the Gaza aid convoy as diplomatic censure continues over the country’s bloody assault on the six ships in the early hours of MondaySource: Financial Times - US homepage | 2 Jun 2010 | 3:11 am US probe prompts further BP fallsShares in BP fall further following news of a criminal investigation into the Gulf of Mexico oil disaster in the US.Source: BBC News | Business | World Edition | 2 Jun 2010 | 3:06 am Luxury giant completes buy up of web fashion retailer (AFP)
Source: Yahoo! News: Business News | 2 Jun 2010 | 3:06 am Market slide may dent AgBank IPO valuation hopesHONG KONG/SHANGHAI (Reuters) - Agricultural Bank of China may struggle to get the kind of valuation it wants as it gears up to launch the world's biggest IPO into a market that has slumped by a fifth in just six weeks.
Source: Reuters: Business News | 2 Jun 2010 | 3:03 am Oil closes in on Fla. as BP tries risky cap move (AP)
Source: Yahoo! News: Business News | 2 Jun 2010 | 3:02 am 3 Cheap Tech Stocks for Defensive Investors (Screens)Hough: These shares are priced to outperform in any economy.
Source: SmartMoney.com | 2 Jun 2010 | 3:01 am Tuning In to Harman's Growth StoryHarman will benefit as the economy and car sales revive.
Source: SmartMoney.com | 2 Jun 2010 | 3:01 am BP drags FTSE 100 down for a second dayThe FTSE 100 fell in early trading in London as worries over tghe future of oil giant BP added to a cocktail of fears for investors.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jun 2010 | 3:00 am Americans Don’t Know Their Broadband Speeds And May Not CareA new FCC study shows that 4 out of 5 Americans do not know the connection speed of the broadband service in their homes. The FCC announced last week that subscriber rules for wireless customers were not clear, although they are part of the service contracts that all consumers with cellphones sign. But, the FCC [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jun 2010 | 2:58 am World stocks lower amid Europe, US jitters (AP)
Source: Yahoo! News: Stock Markets News | 2 Jun 2010 | 2:47 am World stocks lower amid Europe, US jitters (AP)
Source: Yahoo! News: Business News | 2 Jun 2010 | 2:47 am London Markets: BP shares down in lower British share marketBritish shares fell on Wednesday, with commodity-sector firms trading with losses.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 2:47 am BP's $70 billion whippingDespite the sharp fall in BP's share price following the company's inability to cap a leaking well in the Gulf of Mexico, most analysts say the selloff is overdone.Source: Business and financial news - CNNMoney.com | 2 Jun 2010 | 2:46 am Prudential walks away from AIA dealPrudential has decided to walk away from an agreement to buy AIG’s Asia business after the board of the US insurer voted against cutting the purchase price from $35.5bnSource: Financial Times - US homepage | 2 Jun 2010 | 2:42 am Rebound seen for stocksU.S. stocks were pointed to a higher open Wednesday, rebounding from a late sell-off in the previous session, as investors await auto sales and employment reports.Source: Business and financial news - CNNMoney.com | 2 Jun 2010 | 2:39 am Jupiter Asset IPO plan values firm up to $1.28 blnFund manager Jupiter Asset Management on Wednesday set a price range for its initial public offering that implies a market capitalization for the firm of between 718 million pounds and £868 million ($1.06 billion to $1.28 billion).
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 2:37 am Stock futures signal rebound (Reuters)
Source: Yahoo! News: Stock Markets News | 2 Jun 2010 | 2:33 am Stock futures signal rebound(Reuters) - Stock index futures pointed to a higher open on Wall Street on Wednesday following the previous session's steep losses, with futures for the S&P 500 up 0.35 percent, Dow Jones futures up 0.37 percent and Nasdaq 100 futures up 0.44 percent at 0800 GMT.
Source: Reuters: Business News | 2 Jun 2010 | 2:33 am Northumbrian Water profits jumpNorthumbrian Water says business failures among its customers have levelled off and profits have grown.Source: BBC News | Business | World Edition | 2 Jun 2010 | 2:31 am Portugal Telecom surges as Telefonica ups Vivo bidShares of Portugal Telecom climbed on Wednesday, nearly single-handedly driving its home market to positive ground, after Spain’s Telefonica came back with a 14% higher bid for the Portuguese group’s stake in a Brazilian telecom.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 2:26 am Prudential in talks to abandon AIA dealPrudential is in negotiations with the insurer AIG to cancel its $35.5 billion ($£24 billion) deal to buy AIA in Asia. Source: Latest Business News from Times Online | 2 Jun 2010 | 2:17 am Stocks to Watch: Stocks to watch for WednesdayAmong the companies whose shares are expected to see active trade in Wednesday’s session are BP, Coldwater Creek, Hovnanian, Lions Gate, and Tenet.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 2:15 am Media Digest 6/2/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: The prime minister of Japan resigned. Reuters: American International Group (NYSE: AIG) may have an IPO for AIA. Reuters: Apple Inc.s (NASDAQ: AAPL) Steve Jobs finds suicides at Foxconn disturbing. Reuters: The US is fighting a bid by Transocean (NYSE: RIG) to limit its liability. Reuters: The US opened a criminal probe into the BP [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jun 2010 | 2:03 am Prudential gives up on $35.3 billion AIA deal (AP)AP - Prudential PLC has accepted defeat in its ambitious plan to acquire Asian insurance company AIA from U.S. insurance company AIG.Source: Yahoo! News: Business News | 2 Jun 2010 | 2:03 am Oil near $72 as economy concerns drag on optimism (AP)
Source: Yahoo! News: Business News | 2 Jun 2010 | 2:01 am Jupiter plans to raise £220m in flotationJupiter Investment Management, the British fund manager run by Edward Bonham Carter, plans to sell shares at its flotation at between 150p and 210p.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jun 2010 | 1:48 am Europe Markets: Commodity-sector firms pressure Europe sharesEuropean shares lose ground on Wednesday, pulled down by broad losses for commodity-sector companies and another slide for BP shares.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 1:45 am Asia Markets: Japan stocks rise, then fall, as Hatoyama resignsJapan’s stock market initially cheer the resignation of Japan’s unpopular Prime Minister Yukio Hatoyama, turning higher by the end of the morning session, but the reaction proves to be a temporary one.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 1:39 am Contact Energy leads sharemarket downThe New Zealand sharemarket was weaker today, reflecting weak offshore markets and a quiet corporate news day.The benchmark NZX-50 index closed down 35.867 points, or 1.174 per cent, at 3018.892, after losing 6.5 points yesterday....Source: nzherald.co.nz - Business | 2 Jun 2010 | 1:34 am Top central banks not planning shift out of euro: sourcesTOKYO/BRASILIA (Reuters) - Some of the world's richest central banks will not stop investing in the euro, supporting its reserve status, despite the sovereign debt crisis hammering the euro zone's currency, government sources said.
Source: Reuters: Business News | 2 Jun 2010 | 1:26 am Gulf of Mexico oil spill: BP shares slide further as US opens criminal investigationThe oil giant has seen £40bn wiped off its market value since the oil spill started.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jun 2010 | 1:20 am Defence boomWorld military spending soared in the recessionSource: BBC News | Business | World Edition | 2 Jun 2010 | 1:12 am New Fees for Mutual Fund PerformanceSome mutual funds will make you pay more if they outperform the market.
Source: SmartMoney.com | 2 Jun 2010 | 1:01 am Icahn vows proxy fight for Lions Gate EntertainmentThe activist investor, critical of the film and TV studio's management, extends his $7-a-share offer in a bid that could get him as much as a $50% stake.Delivering on his threat to seize control of Lions Gate Entertainment Corp., Carl Icahn said Tuesday that he would launch a proxy war against the Santa Monica film and television studio.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am Hewlett-Packard to cut jobs, invest $1 billion in expansionThe firm will create data centers in hopes of winning more of the commercial technology services market. It will slash 9,000 jobs in unspecified areas while adding 6,000 in global sales and services. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am Concerns over floor mat issue prompt safety probe of some Ford modelsConsumer complaints prompt federal regulators to open an investigation into whether optional floor mats in 2010 Fusion and Mercury Milan sedans can jam gas pedals and lead to sudden acceleration.Federal auto safety regulators have launched an investigation into whether floor mats in 2010 Ford Motor Co.'s Fusion and Mercury Milan sedans can entrap the gas pedal, causing unintended acceleration.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am Fisher Island, South Florida's haven of the rich, experiences dose of realityThe housing slump has devastated home values in what was the nation's most expensive ZIP Code two years ago. Residents and boosters proclaim optimism. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am 'Transformers' takes over L.A. streetsShooting of the third installment of the sci-fi series is underway at several Southern California locations, though the lure of other states' tax incentives proves irresistible. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am Icahn vows proxy fight for Lions Gate EntertainmentThe activist investor, critical of the film and TV studio's management, extends his $7-a-share offer in a bid that could get him as much as a $50% stake. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am Michael Sitrick could use some crisis-management adviceThe king of damage control faces the embarrassment of a very public legal dispute with former employees who claim they've been cheated. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am Fisher Island, South Florida's haven of the rich, experiences dose of realityThe housing slump has devastated home values in what was the nation's most expensive ZIP Code two years ago. Residents and boosters proclaim optimism.— Two years ago, tony, secluded Fisher Island was perched atop a lofty list: America's most expensive ZIP Code.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am China's factory workers finding, and flexing, their muscleAs the number of working-age laborers dwindles, dissatisfaction with low pay and brutal hours has grown. Big companies are beginning to offer pay increases to stem the anger.They are the engine behind China's decades-long economic miracle: factory workers earning meager wages to ensure that the nation's exports are sold at unbeatable prices.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am 'Transformers' takes over L.A. streetsShooting of the third installment of the sci-fi series is underway at several Southern California locations, though the lure of other states' tax incentives proves irresistible.The Autobots and Decepticons are back in town.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am FCC targets Internet speed in survey, seeks volunteersFederal Communications Commission seeks 10,000 volunteers to measure the speed of their broadband Internet service as part of a nationwide, scientific study of the performance of major providers. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am Fox launches TV ad sales seasonThe network is seeing strong demand for 30-second commercial spots, sources say. The others are expected to begin selling time for the upcoming season this week. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am Concerns over floor mat issue prompt safety probe of some Ford modelsConsumer complaints prompt federal regulators to open an investigation into whether optional floor mats in 2010 Fusion and Mercury Milan sedans can jam gas pedals and lead to sudden acceleration. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am FCC targets Internet speed in survey, seeks volunteersFederal Communications Commission seeks 10,000 volunteers to measure the speed of their broadband Internet service as part of a nationwide, scientific study of the performance of major providers.Federal regulators want to know just how fast you're surfing, and they're looking for 10,000 volunteers to submit to a speed check.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am Michael Sitrick could use some crisis-management adviceThe king of damage control faces the embarrassment of a very public legal dispute with former employees who claim they've been cheated.Given Michael Sitrick's renown as a prince of PR, it's unsurprising that the big question being asked about him just now isn't whether it's true that he ripped off his employees for roughly $8 million, as two ex-workers are alleging in federal court.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am China's factory workers finding, and flexing, their muscleAs the number of working-age laborers dwindles, dissatisfaction with low pay and brutal hours has grown. Big companies are beginning to offer pay increases to stem the anger. ...Source: RSS feed - channel BNPaperBusiness | 2 Jun 2010 | 1:00 am Hewlett-Packard to cut jobs, invest $1 billion in expansionThe firm will create data centers in hopes of winning more of the commercial technology services market. It will slash 9,000 jobs in unspecified areas while adding 6,000 in global sales and services.Hewlett-Packard Co. said Tuesday that it would cut about 9,000 jobs and create highly automated data centers as part of its drive to capture a bigger share of the commercial technology services market.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am Fox launches TV ad sales seasonThe network is seeing strong demand for 30-second commercial spots, sources say. The others are expected to begin selling time for the upcoming season this week.Fox Broadcasting has kicked off this year's television advertising sales season — another sign that companies are stepping up their purchase of TV time to pitch their products after two years of cautious spending because of economic uncertainty and the recession.
Source: L.A. Times - Business | 2 Jun 2010 | 1:00 am Therese Poletti's Tech Tales: Jobs reminds us how far Apple has comeSteve Jobs reminds all of us how far Apple Inc. has come in the last 13 years or so since he came back to the company he co-founded.
Source: MarketWatch.com - Top Stories | 2 Jun 2010 | 12:55 am Air China's Beijing-Stockholm Route Takes China-Sweden Relations to New HeightsSource: RSS feed - channel BNewsBusiness | 2 Jun 2010 | 12:00 am Prudential's bid for AIA collapses as hopes for Asia are left wreckedUK insurer's hopes for Asian expansion in ruins as it's left with $450m bill.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jun 2010 | 11:55 pm Honda's China parts plant resumes full operations (AFP)
Source: Yahoo! News: Business News | 1 Jun 2010 | 11:50 pm NZ dollar settles after volatile nightThe New Zealand dollar traded in a relatively narrow range today after a volatile overnight session on Tuesday night as it continues to reflect global events.The NZ dollar was at US67.42c at 5pm from US67.60c at 8am and US67.80c...Source: nzherald.co.nz - Business | 1 Jun 2010 | 11:19 pm Charter company goes into liquidationflyDirect has gone into liquidation just weeks before it was due to launch.The charter company was due to begin offering a Wellington and Christchurch to Wanaka service in time for the ski season on July 1, but a message on its...Source: nzherald.co.nz - Business | 1 Jun 2010 | 10:32 pm Jon Friedman's Media Web: Brian Williams: 21st century CronkiteWith the speculation heating up about a CNN and CBS News combination, the individual most threatened would seem to be Brian Williams, the top-rated news anchor at 6:30 p.m., Jon Friedman writes.
Source: MarketWatch.com - Top Stories | 1 Jun 2010 | 10:01 pm Hawaiian Introduces Its Fleet of the FutureSource: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 9:53 pm SOE minister says he hasn't asked for Kiwibank sale adviceState Owned Enterprises Minister Simon Power says he has not requested or received any advice about selling off Kiwibank.Finance Minister Bill English sparked a debate by raising the prospect when answering questions in a post-budget...Source: nzherald.co.nz - Business | 1 Jun 2010 | 9:00 pm Euro steadies, yen dips on Japan PM resignationSINGAPORE (Reuters) - The euro edged up on Wednesday after hitting a four-year low against the dollar on jitters over the euro zone's debt crisis, while Asian stocks were broadly steady...Source: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 8:57 pm Slick ad campaigns now are affordable to small firmsHard times in ad and media industries are creating bargains for small businesses seeking higher profiles. A Redondo Beach diner is among those taking advantage of lower production costs and ad rates.A cable television commercial for the Redondo Beach restaurant Eat at Joe's features high-definition video, a cast of 40 and a catchy jingle that will leave you humming.
Source: L.A. Times - Business | 1 Jun 2010 | 8:46 pm Slick ad campaigns now are affordable to small firmsHard times in ad and media industries are creating bargains for small businesses seeking higher profiles. A Redondo Beach diner is among those taking advantage of lower production costs and ad rates. ...Source: RSS feed - channel BNPaperBusiness | 1 Jun 2010 | 8:46 pm Microsoft sticks up for Windows operating systemMicrosoft has publicly defended Windows in the face of unconfirmed reports that Google was shunning the operating system due to security concerns. Google declined to respond to an AFP...Source: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 8:45 pm Buffett to face grilling over Moody's investmentWarren Buffett has one of the bigger claims to having predicted the credit crisis, describing credit derivatives as "financial weapons of mass destruction" as long ago as 2002, but when he testifies before the commission investigating...Source: nzherald.co.nz - Business | 1 Jun 2010 | 8:30 pm Manpower Inc. Announces Results of Elections and Proration of Merger Consideration for Former Stockholders of COMSYS IT Partners, Inc.Source: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 8:16 pm The Oldest Public Company CEOs24/7 Wall St. created the list of the oldest CEOs, chairmen and presidents of the Fortune 500 companies. The official retirement age for executives at many large U.S. corporations has been 65 for several decades – unless the executive also happens to be the founder. Forty years ago, 65 was considered old. The average life [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jun 2010 | 8:03 pm Sino-Forest Completes Acquisition of Minority Interest in Greenheart ResourcesSource: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 7:41 pm BP seeks to reassure investors over oil spill costLONDON (Reuters) - BP will seek to patch up its battered share price by reassuring investors the cost of cleaning up the oil spill in the Gulf of Mexico is manageable and will not affect...Source: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 7:40 pm BP seeks to reassure investors over oil spill costLONDON (Reuters) - BP will seek to patch up its battered share price by reassuring investors the cost of cleaning up the oil spill in the Gulf of Mexico is manageable and will not affect dividends, British media reported on Wednesday.
Source: Reuters: Business News | 1 Jun 2010 | 7:40 pm Global Financial Crisis Risks Move From Credit To Politics As Japan’s Prime Minister ResignsThe causes of the global financial crisis of 2008 were almost entirely flaws in the credit system based on leverage, exotic financial instruments, and a sharp drop in American housing prices. Just as that cycle has begun to end, and GDP in major nations has begun to recover, another potentially damaging set of risks has [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jun 2010 | 7:34 pm Petricevic trust chased for $800,000Rod Petricevic's family trust and the Official Assignee are embroiled in a dispute over $800,000 paid to the trust during the two years before his bankruptcy in August 2008.The heart of the case lies in the Official Assignee's...Source: nzherald.co.nz - Business | 1 Jun 2010 | 7:30 pm GM repays half of loan to ArgentinaGeneral Motors said it was repaying early half of a loan of 63 million dollars from the Argentine government provided when the US auto giant went into bankruptcy last year. The...Source: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 7:17 pm Debate Delays New Identity Theft Rule (Consumer Action)Congress is still hashing out which firms would have to tamp down.
Source: SmartMoney.com | 1 Jun 2010 | 7:03 pm Prudential says withdrawing AIA bidHONG KONG (Reuters) - Britain's Prudential Plc said on Wednesday it is withdrawing from its agreement to buy AIG's Asian life insurer, AIA, after the two sides failed to renegotiate termsSource: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 6:58 pm Pru deal near collapse as AIG snubs lower offerLONDON/NEW YORK (Reuters) - Prudential Plc's bid for AIG's Asian life insurance unit was close to collapse on Tuesday after the two failed to negotiate a price cut, raising questions...Source: RSS feed - channel BNewsBusiness | 1 Jun 2010 | 6:46 pm Disney hopes "Toy Story 3" swag reaps $2.4 billionLOS ANGELES (Reuters) - Walt Disney Co expects retailers to sell $2.4 billion in "Toy Story 3" merchandise this fiscal year, potentially the company's biggest licensing windfall from a single film.
Source: Reuters: Business News | 1 Jun 2010 | 6:04 pm BP to promise $10bn payday as criminal inquiry looms$BP’s long-term credibility was at stake last night as its chief executive fought to halt a headlong slide in its stock price and the Obama Administration announced a criminal investigation into the Deepwater Horizon oil disaster. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm Vivendi’s master of the universe lands in Parisian courtJean-Marie Messier, the dashing Frenchman who proclaimed himself a master of the universe while chief executive of Vivendi Universal, will stand trial for criminal fraud in a courtroom in Paris today. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm Prudential shareholders in rebellion? All power to their elbowThe finance industry is often seen as little more than a racket orchestrated by a self-serving elite. But yesterday’s seismic events at the Prudential may just point to capitalism working a tiny bit better, or at least forcing the agents of capitalism to be more accountable to the millions of people whose savings they harness. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm Housing market is braced for ‘small dips’The housing market could suffer “small dips” in prices before the end of the year, with growth likely to slow over the coming months, according to a leading credit rating agency. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm IBM to organise summit at invitation of Prince of WalesIBM, the US computing and consulting giant, has been invited by the Prince of Wales to organise a nine-day global summit in London in September, aimed at making business more sustainable. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm This is the age of war between the generationsYesterday was my 58th birthday. If I were a Greek worker I could retire. Although pension payments in Greece normally start around 61, special provisions allow anyone to retire at 58 if they have been in employment for 35 years. That, as it happens, is how long I have been at work. My index-linked pensions from the Greek Government would be worth 75 to 90 per cent of the average salary in the country, guaranteed for the rest of my life by the State. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm Insurance PremiumNobody can doubt the ambition of Prudential, Britain’s largest insurance company, in bidding $35.5 billion to take over AIA, the Asian arm of AIG, the American insurer bailed out by the US Government in 2008. Had AIG not balked yesterday at Prudential$’s belated, but wise, decision to cut its offer to $30.375 billion, the Pru$’s charismatic chief executive, Tidjane Thiam, would now be en route to heading a business that would have been the leading life insurer in seven Asian countries, and the biggest foreign provider in China and India. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm Factories keep spring in their step as export orders flood inActivity at British factories increased at the fastest rate in more than 15 years in May, matching April’s rate of growth, but the data was clouded by fears over inflationary pressures. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm On the up: Ryanair flies back into profitMichael O’Leary is set for a €20 million (£17 million) payday after Ryanair said that it would pay its first cash dividend to shareholders. Source: Latest Business News from Times Online | 1 Jun 2010 | 6:01 pm Quarter of Kiwis plan to skip paying bills, says surveyOne in four New Zealanders will pay their bills late over the next year, and a "staggering 20 per cent" will skip a mortgage repayment if they run short of cash, a new study reveals.Kiwis aged 35 to 49 are most likely to pay late...Source: nzherald.co.nz - Business | 1 Jun 2010 | 6:00 pm BP shares plummet, spill costs approach $1 billionLONDON - Shares in BP plummeted overnight, wiping billions off the British company's market value, after the failure of its latest attempt to stop the massive Gulf of Mexico oil spill.Speculation about the London-based company's...Source: nzherald.co.nz - Business | 1 Jun 2010 | 6:00 pm Oxfam drums up small biz charity supportInternational charity Oxfam was drumming up support for its New Zealand operations at the Bizzone Expo in Auckland today to engage businesses into corporate giving.Oxfam is one of 187 businesses exhibiting at the ASB Showgrounds...Source: nzherald.co.nz - Business | 1 Jun 2010 | 5:52 pm Buffett to testify on derivativesSource: Business and financial news - CNNMoney.com | 1 Jun 2010 | 5:25 pm Dairy prices dip overnight in Fonterra auctionPrices fell 3.5pc overnight in Fonterra's latest online global dairy auction.Whole milk powder prices fell 3.4 per cent, skim milk powder was down 6.2 per cent.The gDT-TWI index, which tracks a range of products sold was down...Source: nzherald.co.nz - Business | 1 Jun 2010 | 5:00 pm Prudential-AIA deal timelineHow Tidjane Thiam's Asian dream turned into a nightmare.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jun 2010 | 4:45 pm Write-Offs: 06.01.10
$$$ Peter Cohan: But the fact of the matter is that I think the casinos are doing a better job of disclosure of what’s really going on than the stock market. [Marketplace via Heidi Moore] $$$ Owners Stop Paying Mortgages And Stop Fretting [NYT] $$$ James Bond’s Aston Martin Goes To Auction [WSJ] 
 Source: Dealbreaker | 1 Jun 2010 | 4:38 pm Presented By:Source: Dealbreaker | 1 Jun 2010 | 4:38 pm Citi to shrink consumer finance armCitigroup is moving to shrink its US consumer finance unit, CitiFinancial, closing hundreds of branches across the country, in an effort to make the troubled business more attractive to buyersSource: Financial Times - US homepage | 1 Jun 2010 | 4:36 pm Canadian Solar (Investor's Business Daily)Investor's Business Daily - Canadian Solar (NMS:CSIQ), a Chinese solar-cell maker, received an SEC subpoena for documents related to sales in '09. It also delayed releasing Q1 results. It may revise Q4 revenue numbers. Shares fell 16%.Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 4:36 pm Prudential-AIA: where did the deal go wrong?Prudential chief Tidjane Thiam is as mystified by the plight of the AIA deal as the rest of the market.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jun 2010 | 4:10 pm Summary Box: Drop in energy stocks hits market (AP)AP - LATE TUMBLE: Stocks suffered another late slide Tuesday after the government said it was opening criminal and civil investigations into the Gulf of Mexico oil spill. The Dow Jones industrials lost almost 113 points.Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 4:09 pm Ghosn sees record year for car industryCarlos Ghosn, chief executive of Renault and Nissan, says the global industry should produce and sell 70m light vehicles in 2010, with most of the growth coming from the emerging marketsSource: Financial Times - US homepage | 1 Jun 2010 | 4:02 pm US reveals criminal probe over BP spillThe Obama administration revealed criminal and civil investigations into BP’s operations in the Gulf of Mexico, vowing to use ‘the full extent of the law’ to hold the British oil company responsible for the April oil spill, the largest in US historySource: Financial Times - US homepage | 1 Jun 2010 | 3:55 pm If Google Scraps Windows, Should You? (Consumer Action)Behind Google's reported move to phase out Microsoft's OS in its offices.
Source: SmartMoney.com | 1 Jun 2010 | 3:54 pm Prudential's hopes for Asia wreckedPlans to become biggest insurer in region are dashed as failed attempt to buy AIA turns group into a bid target itself.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jun 2010 | 3:52 pm Say goodbye to full-time jobs with benefitsJobs may be coming back, but they aren't the same ones workers were used to.Source: Business and financial news - CNNMoney.com | 1 Jun 2010 | 3:51 pm Stocks turn sharply lower in late trading (AP)
Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 3:51 pm Stock market volatility sends money into Treasurys (AP)AP - Interest rates fell in the Treasury market Tuesday as investors dumped stocks in a late-day selloff triggered by news that the government had started a criminal investigation into the Gulf oil spill.Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 3:45 pm How the major stock indexes fared on Tuesday (AP)AP - Stocks took another late-day dive Tuesday after the government said it was starting criminal and civil investigations into the Gulf of Mexico oil spill. The Dow Jones industrial average dropped almost 113 points. Its plunge came shortly before the close and minutes after Attorney General Eric Holder made the announcement. Stocks in energy companies and oil service providers tumbled on the news, and other stocks followed.Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 3:41 pm NHS e-record system goes live at lastThe largest single contractor to the troubled NHS IT programme has finally installed a much-delayed electronic patient record system at its first acute hospital.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jun 2010 | 3:35 pm From short selling to long frothy lattesA new commodity is set to be traded on the floor of the New York Stock Exchange from Wednesday – lattesSource: Financial Times - US homepage | 1 Jun 2010 | 3:31 pm The Return of Commercial Real Estate (Common Sense)Stewart: Crowded malls signal upside for REITs and related ETFs.
Source: SmartMoney.com | 1 Jun 2010 | 3:24 pm Energy Sector Leaves Dow in the Red (Market Update)Two surprising economic reports could not keep stocks above the line.
Source: SmartMoney.com | 1 Jun 2010 | 3:24 pm Global stock markets mixed in volatile trade (AFP)
Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 3:16 pm Bets that BP will default hit all-time highSource: Business and financial news - CNNMoney.com | 1 Jun 2010 | 3:15 pm The Tuesday Podcast: What If Everybody Chipped In To Pay Off The National Debt? (iStockphoto) Back in the '80s, Kay Fishburn had a dream: Americans would band together and make voluntary donations to bring the national debt way down. She became something of a minor celebrity. On today's Planet Money, we check in with Fishburn. And we talk to an economist, who explains why it would be a bad idea for Americans to raid their savings accounts to pay off the national debt. It's all part of our ongoing quest to understand this whole gifts-to-pay-down-the-debt thing. After the jump: reader mail, a spreadsheet and a Bob Edwards interview. Last week, we posted this graphic on gifts to pay down the debt between 2004 and 2009. We also posted the spreadsheet that had the data. A few readers pointed out an interesting quirk in the data: there were 48 payments of $129.17 each. They came in every two weeks or so for about two years, starting in January, 2006. We also got an email from Adam Eugene Osborne, of Waltham, Mass., who made a recent donation: Probably the best $100.00 I spent in a long time. Makes me feel, like I did something to really help the country (even if it is such a minuscule amount compared to the real debt). For more from Kay Fishburn, listen to the full audio of her 1990 interview with former Morning Edition host, Bob Edwards. Download the podcast, or subscribe. Music: The Apples In Stereo's "Fashion." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Jun 2010 | 3:09 pm U.S. Railroads, Oil Demand, Technology, Stocks: Taking StockSource: Bloomberg - All Podcasts | 1 Jun 2010 | 3:06 pm Great News For Psychopath Traders Based In The UK
 Tim...and on some occasions, "Kim" Are you a little bit nuts? Are you a lot a bit nuts? If you said the latter, take care to only date women who date guys as equally crazy as yourself and in the event you go bat-shit insane on her ass, it’ll be all good in the ‘hood. Remember Timothy Evans, the guy who broke his mistress’s house after she dumped him to start seeing another, non-married man and sprayed the words ‘whore,’ ’slut,’ ‘cow’ and ‘I warned you – you bitch. You stole my boyfriend,’ in addition to shredding her clothes and stealing three Christmas cards and a duvet cover, all in the hopes that Juliette Shutes would jump to the conclusion that the burglar was not Evans, or male at all, but rather some woman her new boyfriend was banging on the side? He told a jury last Friday that Ms Shutes had “several other boyfriends,” presumably all in the habit of impersonating women when they rob people, and that the break-in and damage “could have been carried out by one of them.”
Source: Dealbreaker | 1 Jun 2010 | 2:57 pm Correction: 4Kids Entertainment delisting story (AP)AP - In a May 28 story about the delisting of 4Kids Entertainment Inc. shares from the New York Stock Exchange, The Associated Press reported erroneously that the company owns the license for Cabbage Patch Kids products, based on a list of properties posted on its website. The company now says it no longer holds the license for that brand.Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 2:50 pm Overzealous Employee Of Midtown Hedge Fund Want You To Learn From His Mistakes
Source: Dealbreaker | 1 Jun 2010 | 2:45 pm JPMorgan and BofA lead candidates for GM IPO: reportNEW YORK (Reuters) - Bank of America Merrill Lynch and JPMorgan are the lead candidates for "senior manager" underwriting roles on the General Motors initial public offering, according to Fox Business Network's Charlie Gasparino.
Source: Reuters: Business News | 1 Jun 2010 | 2:36 pm Ace Greenberg’s Pro-Tip: “People Who Bet On The United States And Don’t Use Excess Leverage Make All The Money”
He also told Sue and Crew he’s sorry the Queen of England is having some problems with former family members, which is nice. (He cares. And keeps up on his Royals gossip!)
Source: Dealbreaker | 1 Jun 2010 | 2:31 pm Manufacturing expands for 10th straight monthWASHINGTON (Reuters) - Manufacturing grew for a 10th straight month in May and construction spending notched its fastest pace in nearly 10 years in April, suggesting the U.S. economy will add jobs and weather Europe's debt storm.
Source: Reuters: Business News | 1 Jun 2010 | 2:27 pm U.S. launches criminal investigation into spillSource: Business and financial news - CNNMoney.com | 1 Jun 2010 | 2:22 pm Questor share tip: Ryanair's dividend is finally cleared for landingRyanair was first tipped by this column at €2.84 last November, when Michael O'Leary initially mooted the prospect of returning funds to shareholders.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jun 2010 | 2:17 pm Governments Stock Up On GoldBy Jacob Goldstein The IMF is selling off some of its gold stash, and governments and central banks are buying. The IMF sold about 15 tons of gold in April, Bloomberg News says. With gold trading at about $1,200 an ounce, that's roughly $600 million dollars in gold. The fund has been selling some of its gold on the open market this year as part of a plan to create an endowment. In all, the IMF plans to sell just over 400 tons of gold, or roughly one-eighth of its total holdings. That should bring in more than $8 billion in total, the WSJ says. Meanwhile, central banks and governments have been stocking up. Worldwide, governments and central banks added 425 tons last year to their holdings, which now total more than 30,000 tons. That's the most since 1964 and the first expansion since 1988, Bloomberg says. And holdings are likely to grow again this year. The price of gold, of course, has gone through the roof in the past couple years. People say it's a "store of value" -- that is, a place to put your money when you're nervous about inflation, which drives down the value of paper money. A ton of gold, by the way, would be a cube that's about 1'3" on each side. That's why people who work with gold bricks have to wear special boots, to protect their feet from falling gold. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Jun 2010 | 2:08 pm Ryanair dividend to benefit Mrs O'Leahy and the taxmanRyanair chief Michael O'Leary has said he will spend a €20m (£16.7m) windfall on tax, his wife, and Ryanair's famous excess baggage fees after announcing the airline would pay a €500m dividend to shareholders in October.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jun 2010 | 2:08 pm Where to stash your emergency cashQuestion: I'm 37 years old and currently have about $175,000 in my retirement accounts, including $15,000 in my Roth. I also have a taxable brokerage account with about $15,000 in savings as my safety net, to which I contribute about $400 a month. I'm confident I'm on target in my retirement accounts, but hate that my cash is just sitting there in my brokerage account. I'd like a relatively conservative investment that will allow me to keep my cash liquid in case I need it. Any suggestions? -- Leo, Oakland, Calif.Source: Business and financial news - CNNMoney.com | 1 Jun 2010 | 1:51 pm Michael Lewis Inspired Carl Levin’s “Crap Pools” Monologue
The Big Short A Hot Read On Hill [Politico]
Source: Dealbreaker | 1 Jun 2010 | 1:47 pm Oil prices skid on sluggish European, China data (AFP)
Source: Yahoo! News: Stock Markets News | 1 Jun 2010 | 1:41 pm Citi cuts up to 600 CitiFinancial jobsNEW YORK (Reuters) - Citigroup Inc's CitiFinancial unit will shut 330 of its U.S. branches and cut between 500 and 600 jobs, in an effort to cut costs at the business and make it more attractive to potential buyers.
Source: Reuters: Business News | 1 Jun 2010 | 1:38 pm Factory output weathers eurozone stormFactories around the world have so far weathered the storm threatening the eurozone economy, suggest dataSource: Financial Times - US homepage | 1 Jun 2010 | 1:23 pm Comparing housing in the 90s & todayFor many folks, the 90s weren't a whole lot better financially than they are right now. But there wasn't a big rush to rescue homeowners suffering from a housing plunge, and the hard times never rose to the threat of a global catastrophe. Why? Bob Moon reports.Source: Marketplace | 1 Jun 2010 | 1:22 pm Summer air travel's up, and so are faresThis summer, stronger travel demand is going to run smack dab into a much smaller airline industry and all the crowded flights that will entail. Jeff Horwich reports.Source: Marketplace | 1 Jun 2010 | 1:22 pm Biz model for domain names to changeThe practice of hoarding available domain names on the Internet may soon become a broken business model. Cash Peters explains.Source: Marketplace | 1 Jun 2010 | 1:21 pm Mistakes made at Bear StearnsAlan "Ace" Greenberg, former CEO of Bear Sterns, talks with Kai Ryssdal about his new book, "The Rise and Fall of Bear Stearns," whether he regrets anything he did at the company, and his experiences at the helm of a now-extinct investment bank.Source: Marketplace | 1 Jun 2010 | 1:21 pm HP shifts biz to provide more servicesHewlett-Packard has announced a major restructuring that will lay off thousands. The changes are part of a trend among major computer firms to move away from building computers to providing services to the companies that buy them. Janet Babin reports.Source: Marketplace | 1 Jun 2010 | 1:21 pm U.S., Europe clash on bank stress testsAt a G-20 meeting, the U.S. will urge Europeans to scrutinize their banks more closely and publish the results. But Europeans may prefer a more discreet approach. Stephen Beard reports.Source: Marketplace | 1 Jun 2010 | 1:21 pm BP's future cloudy with oil uncertaintyThe existence of BP is at stake depending on what happens with the massive Gulf oil leak. BP has already lost almost a third of its market value in the last six weeks, even though the cost of the Gulf oil spill so far has only added up to about a billion dollars for the company. Jeremy Hobson reports.Source: Marketplace | 1 Jun 2010 | 1:21 pm Is the euro crisis over? - The BuzzThe euro has been down so long, maybe there is no place for it to go but up?Source: Business and financial news - CNNMoney.com | 1 Jun 2010 | 1:16 pm America's 7 junkiest citiesThink Greece and Spain are drowning in debt? Look a little closer to home. Seven U.S. cities recently had their municipal bonds downgraded below investment grade. Their debt is now, junk, considered more worthless than that of the so-called PIIGS.Source: Business and financial news - CNNMoney.com | 1 Jun 2010 | 1:00 pm Dear Green Lanterns
Source: Dealbreaker | 1 Jun 2010 | 12:55 pm Yahoo makes 'Buzz'-like changes to e-mailYahoo unveiled changes to its e-mail service on Tuesday that make it easier for users to follow the social network activity of people in their address books.Source: Business and financial news - CNNMoney.com | 1 Jun 2010 | 12:51 pm Uranium Miners Get Some Good News and Some BadLast week, USEC Inc. (NYSE:USU) announced a $200 million investment from Toshiba Corp. and Babcock & Wilcox that would be spread out over three phases. Each of the investors will pitch in $100 million, subject to closing conditions including regulatory approvals. In exchange, the two companies receive convertible preferred stock and warrants to buy additional [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jun 2010 | 12:27 pm Presented By:Source: Dealbreaker | 1 Jun 2010 | 11:48 am Peter Kraus Sticks It To The Haters With “Long” Hair, Pink Ties
 You like that, bitches? Perhaps you thought Peter Kraus, he of former Goldman employment, and $25 million for two weeks of work at Merrill would tone things down in his new gig running Alliance Bernstein? That he’d take a page from Lloyd and Jamie’s playabook re comp this year? That go with the John Thain hair-shirt approach to decorating his new office, change nothing and work off a card table no matter how hard that million dollar antique piece of ass beckons? That he’d fail to ba-ring it on the color coordination? Wrong-o , ladies! Not only is Pedro putting shit all over the walls of his executive suite, not only is he taking home a few mill more than LB and JD for last year, not only is he wearing his hair slightly longer than is conventional but he is working it with the shirt and tie combo, the Post breathlessly reports.
And not to show off but! His cock ring really brings out the color in his eyes.
Source: Dealbreaker | 1 Jun 2010 | 11:48 am RPM Subsidiaries, Rangers: Bloomberg Law Bankruptcy ReviewSource: Bloomberg - All Podcasts | 1 Jun 2010 | 11:31 am As Metals ETFs Expand (PPLT, PALL, PHYS)The ETF universe for metals is getting larger in new assets. ETFS Physical Platinum Shares (NYSE: PPLT) and ETFS Physical Palladium Shares (NYSE: PALL) are getting larger via share sales. This is not having the same impact as another ‘share expansion ‘ which came out last week, but today’s news looks as though it will [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jun 2010 | 11:23 am Man Group Raised to `Buy,' Quicksilver Cut to `Sell': AudioSource: Bloomberg - All Podcasts | 1 Jun 2010 | 11:12 am Ace Greenberg Has Some Advice He’d Like To Share
Has the avoidance of these three things allowed Mr. G to have enjoy one of the longest careers on Wall Street (and a successful run at magic on the side)? Maybe! Who knows? We do know that for some of you, avoiding one or all of the above will be difficult so we’ve culled the advice of some other successful (and not so successful!) leading lights, whose perspectives might ring a little more true to your own experiences, and from whom you might learn something. Dick Fuld: Never stab a hobo that panhandles on your street and whose friends can ID you to the cops. Alan Greenspan: Make sure your per diem covers the girls. Someone in Stamford: Never appear on a Spanish language talk-show to dish on your psychopath ex-wife if you consider yourself a highly secretive hedge fund billionaire. Bill Ackman: Big boy don’t cry. If any of you have some words of wisdom to impart, some advice someone once told you, please do so at this time. Greenberg Sets The Record Straight [IDD]
Source: Dealbreaker | 1 Jun 2010 | 10:15 am Culture Problems Could Kill Facebook
How long will Facebook be around? Right now, the platform’s future looks contentious. The Harvard Business Review’s Bruce Nussbaum explains how Facebook’s problem is a cultural one: Facebook is wildly successful because its founder matched new social media technology to a deep Western cultural longing — the adolescent desire for connection to other adolescents in their own private space. There they can be free to design their personal identities without adult supervision. Generation Y accepted Facebook as a free gift and proceeded to connect, express, and visualize the embarrassing aspects of their young lives. Then Gen Y grew up and their culture and needs changed. What was once a private, gated community of trusted friends became an increasingly open, public commons of curious strangers. The few, original, loose tools of network control on Facebook no longer proved sufficient. The Gen Yers wanted better, more precise privacy controls that allowed them to secure their existing private social lives and separate them from their new public working lives. Facebook’s business model, however, demands the opposite. It is trying to transform the private into a public arena it can offer advertisers…Facebook, under intense pressure, is belatedly agreeing to streamline and strengthen its privacy tools. That will lower the anger of its audience but increase the anxiety of its advertisers. The brand value of Facebook has already taken a hit and competing social media platforms that promise privacy are beginning to appear. Giving economic value to social networks is the new holy grail in advertising and the media. An army of economists and mathematicians are at work on this task. To date, most of the work has focused on metrics — how many friends, how many linkages, how much influence. Facebook’s problems with privacy highlight the need to understand culture as well. I don’t think that users are as loyal to the Facebook brand as they are to the stickiness of the site. It became wildly popular, everyone built networks on it, and few people want to ditch those established networks. If somebody else comes up with a platform that allows Facebook users to export or easily re-establish their networks and keep their desired level of privacy, Facebook could see quickly see its user base diminish.
Source: Business Pundit | 1 Jun 2010 | 10:00 am Middle East Oil Troubles Could Lead To Lower PricesPrices for crude oil fell below $74/b this morning as crude oil continues wobbling downward after hitting a high of around $87/b in early May. Conflicting signals from the Middle East contribute to the uncertainty of which direction oil prices will head. In May, OPEC rose to a 17-month high as the cartel produced 29.372 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jun 2010 | 9:36 am Levitt, Hintz, Trennert, Thin, Kuper, Goncalves: SurveillanceSource: Bloomberg - All Podcasts | 1 Jun 2010 | 9:24 am Stanford’s Boskin, Dirk Hoffmann-Becking: On the EconomySource: Bloomberg - All Podcasts | 1 Jun 2010 | 9:23 am A Refreshing Look at RIAA vs. Pirate BayCracked has a neat infographic on the RIAA’s ongoing campaign against Pirate Bay (and its offshoots). Makes you wonder…
Source: Business Pundit | 1 Jun 2010 | 9:14 am Senators' Favorite Crisis LitBy Jacob Goldstein A year and a half after the financial system nearly collapsed, the boom in crisis lit is still going strong. Three crisis-related books are on the bestseller list at the moment -- Crisis Economics, by Nouriel Roubini, an economist who predicted the crisis; 13 Bankers, by Simon Johnson and James Kwak, who write the blog Baseline Scenario; and The Big Short, by Michael Lewis, the narrative nonfiction writer who started his career with a memoir about his brief stint on Wall Street. A bunch of other books bankers and economists have cycled through the list. But of all of them, it's the Lewis book that seems to be winning the most hearts and minds on Capitol Hill. The Big Short has been mentioned "at least 15 times on the Senate floor and in press conferences and committee hearings," Politico reports. That includes some explicit plugs, like when Harry Reid said: "I recommend everyone within the sound of my voice to read the book." The shout-outs seem mostly to have come from Dems, but Lewis has also been name checked by a few Republicans. The book isn't particularly prescriptive; for the most part, it's a character-driven narrative about a few outsider-types who predicted and profited from the housing bust. But people like a good story. "It's very readable," one senator said. "When senators are reading your book, it reaffirms your faith in society, on the one hand," Lewis told Politico, "and, on the other hand, it makes you nervous, because I don't think of myself as advising people who are actually going to change things." » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 1 Jun 2010 | 8:32 am Get Free Housing For A Year!By Jacob Goldstein This morning's NYT fronts a familiar housing-bust trend story: People who've chosen to stop paying their mortgages. One striking figure in the story: As of April, it took 438 days, on average, for delinquent homeowners to be evicted. That's up from 251 days in January of 2008. The rise has been driven both by pressure from the government to work with delinquent borrowers and by the sheer number of defaults banks have to contend with. The graphic that accompanies the story shows the average time to eviction in each state; in New York and Florida, the average is over 500 days. On a related note, check out our podcast from January on strategic defaults, where underwater borrowers actually want the bank to foreclose on their home as quickly as possible. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Jun 2010 | 7:47 am RBC's Dow Sees Higher Inflation, Interest Rates in 2010: AudioSource: Bloomberg - All Podcasts | 1 Jun 2010 | 7:08 am Gijsels on European Debt Crisis, Farris on Euro: First WordSource: Bloomberg - All Podcasts | 1 Jun 2010 | 7:04 am Where White Men Went Wrong
Source: Business Pundit | 1 Jun 2010 | 5:20 am
|
