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Barristers turn brokers as credit crunch hits divorceThe wife of the celebrity chef Marco Pierre White was due to enter the divorce courts on her own next week, without lawyers, to battle for a share of her husband’s estimated £50 million wealth. But publicity in The Times about her case has prompted a potential rescuer — in the unlikely shape of a criminal set of barristers’ chambers. Source: Latest Business News from Times Online | 10 Jun 2010 | 9:06 am BA chief rejects bonus as strike endsThe chief executive of strike-hit British Airways has turned down a £334,000 bonus. Source: Latest Business News from Times Online | 10 Jun 2010 | 4:33 am BA chief refuses £334,000 bonusBritish Airways chief executive Willie Walsh has turned down an annual bonus worth £334,000, the airline says.Source: BBC News | Business | World Edition | 10 Jun 2010 | 4:16 am BP shares plunge on penalty fearsBP shares plunge 12% as London trading opens, before recovering to 4% down, amid fears of massive US penalties.Source: BBC News | Business | World Edition | 10 Jun 2010 | 4:15 am Government Attacked For AIG BailoutThe Congressional Oversight Panel attacked the Treasury for two aspects of its bailout of American International Group (NYSE: AIG) “By providing a complete rescue that called for no shared sacrifice among AIG’s creditors, the Federal Reserve and Treasury fundamentally changed the relationship between the government and the country’s most sophisticated financial player.” In other words, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Jun 2010 | 4:13 am Stocks set to popU.S. stocks were set to bounce higher Thursday, coming off a Wednesday slump that was dragged down by the energy sector.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 4:12 am Social firms 'growing strongly'The UK's social enterprises - firms trading for social or environmental purposes - bucked the recent recession, a report says.Source: BBC News | Business | World Edition | 10 Jun 2010 | 4:11 am Indications: U.S. stock futures higher as China data, ECB eyedU.S. stock market futures rose on Thursday as traders readied for key monetary policy meetings in Europe and the U.K. and eyed strong Chinese economic data.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 4:09 am Spain labor talks fail (Reuters)
Source: Yahoo! News: Business News | 10 Jun 2010 | 4:07 am Spain labor talks failMADRID/AMSTERDAM (Reuters) - Marathon negotiations to overhaul Spain's rigid labor market collapsed on Thursday, raising the prospect of a tug-of-war between the government and trade unions in the troubled euro zone state.
Source: Reuters: Business News | 10 Jun 2010 | 4:07 am Is Start-Up Savvy In Your DNA? (Smart Ideas)Ponder this before paying for an MBA: Some entrepreneurial traits are genetic.
Source: SmartMoney.com | 10 Jun 2010 | 4:06 am World stocks up on Fed report but BP weighs (AP)
Source: Yahoo! News: Stock Markets News | 10 Jun 2010 | 4:06 am World stocks up on Fed report but BP weighs (AP)
Source: Yahoo! News: Business News | 10 Jun 2010 | 4:06 am The Rich Flex Their MusclesAmerica’s upper class has begun to return to the free spending ways that characterized their behavior prior to the recession. This may be because the percentage of people unemployed among the well-to-due lagged the national average. It also may be that BMW, Tiffany, and Ritz Carlton have offered bargains to get old customers back.A recent [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Jun 2010 | 4:04 am BP says it can't explain Wednesday's plungeBP says it can’t explain why its share price plunged by 16% in the last session of New York trade -- as its London-listed shares then dropped as well.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 3:57 am 3 Stocks That Polarize Analysts (Screens)Hough: Buy or sell? These shares have forecasters in sharp disagreement.
Source: SmartMoney.com | 10 Jun 2010 | 3:55 am Currencies: Euro edges higher as investors await TrichetThe U.S. dollar slips versus most major rivals Thursday, while the beleaguered euro edges higher as investors await European Central Bank President Jean-Claude Trichet’s monthly news conference.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 3:54 am Will China Crush Chinese Unions?The China of Tiananmen Square has not entirely disappeared. The central government is still willing to assert control, often brutally. Last year, riots in the interior, based on a push by factory workers to get better pay, were put down violently by police. The actions were very public. China was sending a message. There have [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Jun 2010 | 3:41 am UK cuts 'to push jobless to 3m'Government spending cuts will push UK unemployment to almost three million, an employment group has warned.Source: BBC News | Business | World Edition | 10 Jun 2010 | 3:37 am BP oil spill: CEO Hayward to return to UK as chairman Svanberg takes centre stage in USExclusive: BP's chief executive is set to return to UK after next week's Congressional hearings as the political storm deepens.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Jun 2010 | 3:34 am Dairy of a private investor: China should prosper whatever happens to the eurozoneWhy do I keep raising my Far Eastern holdings? It's an attempt to do all right whether the eurozone turns disastrous or not, writes James Bartholomew.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Jun 2010 | 3:31 am Asian data boost hopes of demand recoveryGlobal Markets Overview: Positive economic data from Asia, including confirmation that Chinese exports jumped nearly 50% in the year to May, boost hopes that global demand is recoveringSource: Financial Times - US homepage | 10 Jun 2010 | 3:25 am Honda plants in China idled for second dayHonda Motor Co. idles production at two plants in Guangzhou for a second day because of a new labor dispute at a parts supplier in southern China.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 3:24 am Foreclosure Rates Settle, But At Historically High LevelsThe foreclosure rate in the US is not getting any worse, but unfortunately, it is not getting any better. According to RealtyTrac, May foreclosures were 322,920. That number was a 3% drop from April and a 1% drop from May 2009. Lenders are increasing the rate of “forestalled foreclosures” but the inflow of delinquencies into [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Jun 2010 | 3:20 am Euro boosted by China comments, BP hits stocksLONDON (Reuters) - Losses in European shares offset gains in Asia on Thursday to drag down world stocks while the euro gained in part because of supportive comments from the influential head of China's national pension fund.
Source: Reuters: Business News | 10 Jun 2010 | 3:13 am Europe Markets: Europe stocks wobble before rate calls; BP hitEuropean stocks turned higher on Thursday, with sentiment volatile ahead of two interest rate decisions, although BP shares slid in London.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 3:13 am Stock index futures signal gains for Wall St(Reuters) - Stock index futures pointed to a higher open for Wall Street on Thursday, rebounding from falls in the previous session, with futures for the Dow Jones, S&P 500 and Nasdaq up 0.9 to 1.1 percent by 0849 GMT.
Source: Reuters: Business News | 10 Jun 2010 | 3:12 am Stock index futures signal gains for Wall St(Reuters) - Stock index futures pointed to a higher open for Wall Street on Thursday, rebounding from falls in the previous session, with futures for the Dow Jones, S&P 500 and Nasdaq...Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 3:12 am Stock index futures signal gains for Wall St (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Jun 2010 | 3:12 am Oil hovers above $74 as US crude supplies drop (AP)
Source: Yahoo! News: Business News | 10 Jun 2010 | 3:06 am London Markets: U.K. stocks edge higher but BP shares slideBP shares fell in London on Thursday, following on from a slide in New York and taking quarter-to-date losses for the oil giant to over 40%.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 3:02 am Red tape vexes Gulf residents seeking BP payments (AP)
Source: Yahoo! News: Business News | 10 Jun 2010 | 3:01 am Choosing a Cash-Back Portal (Deal of the Day)Earning a kickback for online purchases after Microsoft's Bing cash-back ends.
Source: SmartMoney.com | 10 Jun 2010 | 3:01 am Ancestry.com Finds Green in the Family TreeThe web site is cashing in on the growing popularity of genealogy.
Source: SmartMoney.com | 10 Jun 2010 | 3:00 am Deepwater Drilling May Surge, Just Not In USThe International Energy Agency presented its new global oil demand figures. It forecasts a need of 60,000 extra barrels a day in 2010 which brings total demand to 86.4 million barrels a day. It is a rounding error and could well be too low. China announced its exports rose 49% in May. China’s oil imports [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Jun 2010 | 3:00 am New to saving? 3 steps to a bigger nest eggQuestion: I'm a single mom who recently went back to work after not working for 12 years. Until now, I've never been responsible for paying a single bill. I'd like to save some money, but I'm not sure how. For now, I sometimes overpay my electricity, water or phone bill, figuring if I have the money now, why not pay double? But there's got to be a better way. I'd love some advice. --Jennifer, Orlando, FloridaSource: Business and financial news - CNNMoney.com | 10 Jun 2010 | 2:56 am BP chief's greatest gaffesBP chief executive Tony Hayward is a little bit like vice president Joe Biden -- get him in an unscripted moment, and there's no telling what words will fly. Just months after taking over as CEO from predecessor Lord John Browne, he called BP's performance "dreadful," causing shares to plummet.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 2:56 am Turkey slams latest Iran sanctionsRobert Gates suggested EU reluctance to admit Turkey as a member could be pushing it away from the west as the country voted against stepping up sanctions on IranSource: Financial Times - US homepage | 10 Jun 2010 | 2:46 am Germany’s Merkel Tests Europe’s Financial Resolve, AgainGermany’s Chancellor Angela Merkel seems keen on asserting her nation’s political and financial power in the EU, or she wants to see the region’s $1 trillion rescue package fail. In a surprising statement, Merkel argued that stimulus efforts and a financial rescue of weak European nations are worsening the underlying deficit problems in the region.Merkel [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Jun 2010 | 2:42 am Shares in BP slide after New York sell-offShares in the oil major fall sharply in London, as UK industry expresses alarm at the ‘inappropriate’ and increasingly aggressive rhetoric being deployed against BP by Barack Obama, US presidentSource: Financial Times - US homepage | 10 Jun 2010 | 2:42 am Chinese exports leap putting yuan back under microscopeBEIJING (Reuters) - China's exports jumped in May, reassuring investors about the economy's strength but putting pressure on U.S. President Barack Obama to placate critics who say Beijing is keeping the yuan unfairly undervalued.
Source: Reuters: Business News | 10 Jun 2010 | 2:36 am Brains & beautySupermodel Elle Macpherson on her business empireSource: BBC News | Business | World Edition | 10 Jun 2010 | 2:31 am BP engulfedThe oil giant is no stranger to controversySource: BBC News | Business | World Edition | 10 Jun 2010 | 2:21 am Investment banks face U.K. probe into feesThe U.K.’s Office of Fair Trading on Thursday turned its spotlight on the investment-banking industry, launching a probe into the fees charged for equity underwriting and other services.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 2:19 am Unemployment: Here to stayThere seems to be little doubt that unemployment is going to remain stubbornly high -- quite possibly for years to come. There's also mounting evidence that a good part of that unemployment is really structural in nature: the skills and capabilities of many experienced workers are simply no longer demanded by the market.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 2:16 am Spanish labor talks end without agreementThe Spanish government is poised to impose its own labor reform laws after talks with employers and major trade unions that stretched into Thursday morning failed to reach an accord, according to Spanish media reports.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 2:13 am Euro boosted by China comments, BP hits stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Jun 2010 | 2:12 am BP shares plunge as clean-up costs soarShares in BP continued to fall this morning after it revealed that the cost of cleaning up the oil spill off the Gulf of Mexico had reached $1.4 billion ($£980 million). Source: Latest Business News from Times Online | 10 Jun 2010 | 2:10 am 10 most fuel efficient cars since 1984Researchers ranked every mass-market car sold in America for the past 26 years.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 2:07 am Never let a good oil spill go to wasteNever let a good crisis go to waste.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 1:59 am Kabel Deutschland trims lossesKabel Deutschland Holding AG, Germany’s biggest cable operator, on Thursday posted a narrower annual loss on the back of strong demand for its Internet and phone products.
Source: MarketWatch.com - Top Stories | 10 Jun 2010 | 1:58 am OFT to investigate rights issue feesThe Office of Fair Trading is opening an inquiry into the fees charged by investment banks for advising on and underwriting rights issues. Source: Latest Business News from Times Online | 10 Jun 2010 | 1:54 am FTSE 100 falls at open (AFP)
Source: Yahoo! News: Stock Markets News | 10 Jun 2010 | 1:52 am Media Digest 6/10/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Volcker is optimistic about a good financial reform bill. Reuters: BP plc (NYSE: BP) shares dropped on concerns about financial viability. Reuters: China exports rose, putting the yuan issue center stage. Reuters: AT&T (NYSE: T) said 114,000 emails were exposed in a security flaw that hit iPads.Reuters: Oil prices were up as China’s exports [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Jun 2010 | 1:50 am BP's shares hit 13-year low, sees no reasonLONDON (Reuters) - Shares in oil giant BP continued to fall heavily on Thursday, hitting their lowest level since 1997, even as the company said it saw no justification for such a move.Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:50 am BP's shares hit 13-year low, sees no reasonLONDON (Reuters) - Shares in oil giant BP continued to fall heavily on Thursday, hitting their lowest level since 1997, even as the company said it saw no justification for such a move.
Source: Reuters: Business News | 10 Jun 2010 | 1:50 am The jig is up for Goldman - The BuzzEarth to Lloyd Blankfein: It's time to settle with regulators before the stock gets pummeled any more.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 1:45 am Banks seizing more foreclosed homesBanks are seizing more foreclosed homes even as the number of people falling behind on their mortgages is declining.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 1:45 am May foreclosure rate steadies as banks hold back (AP)
Source: Yahoo! News: Business News | 10 Jun 2010 | 1:42 am UPDATE 1-Pitney Bowes to buy Portrait Software for 44 mln stgJune 10 (Reuters) - Pitney Bowes Inc , a U.S.-based provider of mail processing equipments, on Thursday said it agreed to buy British software development firm Portrait Software Plc for 44.4 million pounds...Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:42 am AIG bailout spared Wall Street, watchdog saysThe federal government could have pressed the private sector to help rescue AIG when the company was on the verge of collapse in September 2008, a government watchdog has found. Instead, it let Wall Street off easy.Source: Business and financial news - CNNMoney.com | 10 Jun 2010 | 1:42 am One in four 'works without break'One in four people in the UK often works all day without taking a break, with staff shortages a key cause, a survey suggests.Source: BBC News | Business | World Edition | 10 Jun 2010 | 1:41 am PRESS DIGEST - Russia - June 10MOSCOW, June 10 (Reuters) - The following are some of the leading stories in Russia's newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:40 am BP oil spill: Billions wiped off value BP as share price plummetsBP shares tumbled 11pc on Thursday morning after US officials signalled they would take legal action to force the company to stop paying a dividend.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Jun 2010 | 1:27 am ECB faces grilling on euro debt storm, to hold ratesFRANKFURT (Reuters) - The European Central Bank faces a grilling over the euro zone's debt crisis on Thursday after a torrid month in which it has abandoned resistance to buying government...Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:25 am WRAPUP 1-Brazil Senate passes key points of Lula oil reform* Senate passes bill creating production-sharing contractsSource: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:24 am Strikes stall Honda car assembly plants in China (AP)
Source: Yahoo! News: Business News | 10 Jun 2010 | 1:22 am NZ shares post modest gainsThe New Zealand sharemarket posted modest gains today helped by a 3.3 per cent rise in the price of Telecom shares.The benchmark NZX-50 index rose 2.22 points, or 0.074 per cent, to 3002.328. Turnover was worth $80.2 million....Source: nzherald.co.nz - Business | 10 Jun 2010 | 1:22 am BAA passenger numbers down in MayBAA says the number of people using its airports fell in May because of the ash cloud disruption and the British Airways strike.Source: BBC News | Business | World Edition | 10 Jun 2010 | 1:21 am UPDATE 1-Hargreaves Services terminates talks with UK Coal* UK Coal reiterates FY '10 production view of 7.6 mln tonnesSource: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:17 am UPDATE 1-Nice Systems to buy eglue for $29 mln in cash* Acquisition to be accretive to non-GAAP EPS in Q1, 2011Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:15 am China exports refocus yuan debateChinese exports in May beat market expectations, which could reignite US criticism of China's currency policy.Source: BBC News | Business | World Edition | 10 Jun 2010 | 1:14 am Life Healthcare flat in debut after $687 mln IPOJOHANNESBURG, June 10 (Reuters) - South African private healthcare group Life Healthcare was flat in its stock market debut on Thursday, after raising $687 million in an IPO that was sapped by a weak...Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 1:10 am China export surge heightens overheating fearsChina has reported an unexpected 48.5pc rise in exports and near-record growth in property prices, raising concern that the government may step up policy tightening.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 10 Jun 2010 | 1:01 am Environment-friendly tips for washing your carCommercial carwashes use less water and don't dump it directly into storm drains. If you do it yourself, use a nozzle that shuts off, and stick with biodegradable soap.Now that most of the nation is basking in warm weather, more people will be out washing their cars. It turns out that there's an environmentally friendly way to get the task done, according to Ford Motor Co.
Source: L.A. Times - Business | 10 Jun 2010 | 1:00 am A flood of new jobs? No, but no double-dip recession either, Bernanke saysHiring has improved, but the Fed chairman says job restoration will take 'significant' time. Still, Europe's debt crisis shouldn't send the U.S. economy into another tailspin, he says.Federal Reserve Chairman Ben S. Bernanke on Wednesday said he expected the country's economic recovery to remain on track despite Europe's debt crisis.
Source: L.A. Times - Business | 10 Jun 2010 | 1:00 am Despite Prop. 17's defeat, auto insurers' battle may not be overA $16-million effort by auto insurers to ease regulations may not be over despite state voters' decision to reject Proposition 17, which would have allowed drivers to take their continuous-coverage discount...Source: RSS feed - channel BNPaperBusiness | 10 Jun 2010 | 1:00 am B-2 stealth bombers get meticulous makeoversAt Northrop Grumman's complex in Palmdale, the high-tech aircraft are refitted and repainted in a process that takes a year and costs $60 million per plane.Hunched over, her eyes fixed downward, Tanya Hart inches across the vast wing of the B-2 stealth bomber one small step at a time, looking for any nicks or hairline scratches in the freshly repainted surface.
Source: L.A. Times - Business | 10 Jun 2010 | 1:00 am Determining who gets a producer credit on movies, TV showsMark Gordon, co-president of the Producers Guild of America, wants his organization to get authority to arbitrate who gets the credit. ...Source: RSS feed - channel BNPaperBusiness | 10 Jun 2010 | 1:00 am Foreclosure filings decline 3% in MayThe number of U.S. homes in some stage of the process drops to 322,920, with California accounting for 22% of them, RealtyTrac says. Bank seizures hit a record high for the second consecutive month.Foreclosure activity in the U.S. continued to level off in May with the number of homes caught up in some stage of the process falling 3% from April, a real estate firm said.
Source: L.A. Times - Business | 10 Jun 2010 | 1:00 am Despite Prop. 17's defeat, auto insurers' battle may not be overA $16-million effort by auto insurers to ease regulations may not be over despite state voters' decision to reject Proposition 17, which would have allowed drivers to take their continuous-coverage discount with them if they switched carriers.
Source: L.A. Times - Business | 10 Jun 2010 | 1:00 am B-2 stealth bombers get meticulous makeoversAt Northrop Grumman's complex in Palmdale, the high-tech aircraft are refitted and repainted in a process that takes a year and costs $60 million per plane. ...Source: RSS feed - channel BNPaperBusiness | 10 Jun 2010 | 1:00 am Determining who gets a producer credit on movies, TV showsMark Gordon, co-president of the Producers Guild of America, wants his organization to get authority to arbitrate who gets the credit.Few issues are as thorny in Hollywood as who gets producer credits — and who deserves to get them.
Source: L.A. Times - Business | 10 Jun 2010 | 1:00 am Service stations are filling bellies as well as tanksWith slim profit margins on gas, station owners are turning to food to boost revenue. And the fare has evolved beyond hot dogs and pizza to include croissants, paninis, salads and breakfast burritos. ...Source: RSS feed - channel BNPaperBusiness | 10 Jun 2010 | 1:00 am Service stations are filling bellies as well as tanksWith slim profit margins on gas, station owners are turning to food to boost revenue. And the fare has evolved beyond hot dogs and pizza to include croissants, paninis, salads and breakfast burritos.In Woodland Hills, saleswoman Danielle LaRocca checked on her order: a chicken salad, dressing on the side, fried crunchy wonton noodles on the top. Over in Westwood, Laurie Tynan wanted a pulled-pork sandwich. In Santa Monica, paninis were on the grill.
Source: L.A. Times - Business | 10 Jun 2010 | 1:00 am A flood of new jobs? No, but no double-dip recession either, Bernanke saysHiring has improved, but the Fed chairman says job restoration will take 'significant' time. Still, Europe's debt crisis shouldn't send the U.S. economy into another tailspin, he says. ...Source: RSS feed - channel BNPaperBusiness | 10 Jun 2010 | 1:00 am BP says has financial strength to deal with spillLONDON (Reuters) - Oil giant BP said it had the financial flexibility to deal with liabilities related to its oil spill in the Gulf of Mexico, and that it was unaware of any justification...Source: RSS feed - channel BNewsBusiness | 10 Jun 2010 | 12:44 am US lawyer jailed for Ponzi schemeA US court has sentenced a prominent Florida lawyer to 50 years in prison for running a fraudulent investment scheme worth more than $1bn (£685m).Source: BBC News | Business | World Edition | 10 Jun 2010 | 12:42 am China labor costs won't deter investors: officialBEIJING (Reuters) - China's rising labor costs will not deter foreign investors because policies to boost domestic consumption provide a new reason for them to seek profits in the world's third-largest economy, a senior trade official said on Thursday.
Source: Reuters: Business News | 10 Jun 2010 | 12:11 am Currency: NZ dollar rises after OCR liftThe New Zealand dollar rose sharply today after the Reserve Bank of New Zealand raised the official cash rate and after strong Australian employment data and strong Chinese export data.The NZ dollar was at US67.80c at 5pm, up...Source: nzherald.co.nz - Business | 9 Jun 2010 | 11:59 pm Bank of England to keep rates low as Government spending cuts loomThe Bank of England is expected to hold interest rates at a record low on Thursday as it seeks to offset painful Government spending cuts.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jun 2010 | 11:54 pm US foreclosure activity decreases in May: tracker (AFP)
Source: Yahoo! News: Business News | 9 Jun 2010 | 11:45 pm Robert Powell: Fee disclosure is coming to your 401(k)Investors lost a battle this week, but the war isn’t over. Lawmakers in the Senate decided to drop a measure that would have forced the 401(k) industry to disclose fees to participants. But that’s OK, because the numbers still favor retirement savers.
Source: MarketWatch.com - Top Stories | 9 Jun 2010 | 11:18 pm BoE to freeze interest rates to numb fiscal painLONDON (Reuters) - The Bank of England looks set to keep interest rates at a record low on Thursday -- and probably for the rest of this year -- as it seeks to bolster Britain's fragile recovery and offset painful government spending cuts.
Source: Reuters: Business News | 9 Jun 2010 | 11:03 pm Bank of Korea keeps rate at record low 2 percent (AP)
Source: Yahoo! News: Business News | 9 Jun 2010 | 10:50 pm Panel criticizes government on AIG bailout (AP)
Source: Yahoo! News: Business News | 9 Jun 2010 | 10:46 pm Chinese exports surge in MayThe 48.5% jump increases the pressure on Beijing to appreciate its currency against the dollar and suggests Europe’s economic problems have yet to have any pronounced effect on demand for the country’s goodsSource: Financial Times - US homepage | 9 Jun 2010 | 10:19 pm US Congressional panel attacks AIG rescueThe report by the Congressional Oversight Panel, which was created in 2008 to review the financial bail-out, said the government could have acted earlier and more aggressively to secure a private rescue of the insurerSource: Financial Times - US homepage | 9 Jun 2010 | 10:03 pm Apple's third founder refuses to submit to regretsIt's usually past midnight when Ron Wayne, co-founder of Apple Inc. — colossus of the tech world, and Silicon Valley's most adored franchise — leaves his home here and heads into town. Averting...Source: RSS feed - channel BNPaperBusiness | 9 Jun 2010 | 9:36 pm Allied Farmers does deal to sell Five MileAllied Farmers, the finance company that took on the Hanover and United loan books in a debt-for-equity swap last year, has conditional agreement to sell the second stage of the Five Mile property development in Queenstown.Managing...Source: nzherald.co.nz - Business | 9 Jun 2010 | 9:00 pm OCR up, mortgages to rise $10 a weekThe Reserve Bank has lifted the Official Cash Rate by 25 basis points to 2.75 per cent. Floating mortgage rates are expected to be lifted by banks soon.The rise is tipped to lift the cost of a $200,000 floating mortgage rate...Source: nzherald.co.nz - Business | 9 Jun 2010 | 8:30 pm Manufacturing expands at slower rateThe manufacturing sector has expanded for the ninth month running, but it was at a slower pace than in previous months.The seasonally adjusted PMI for May was 54.5 in May, down 4.1 points from April and in keeping with international...Source: nzherald.co.nz - Business | 9 Jun 2010 | 8:23 pm AT&T security hole exposes iPad users' e-mailsAT&T; Inc. on Wednesday acknowledged a security weak spot that exposed the e-mail addresses of apparently more than 100,000 users of Apple Inc.'s iPad, a breach that could make those people vulnerable...Source: RSS feed - channel BNPaperBusiness | 9 Jun 2010 | 8:15 pm Volcker upbeat on "reasonable" reform billMONTREAL (Reuters) - There is a good chance that a sweeping U.S. financial reform bill will be passed in a "reasonable form," White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.
Source: Reuters: Business News | 9 Jun 2010 | 8:02 pm China trade surges - imports, exports up 50pcBEIJING - China's imports and exports both surged by nearly 50 per cent in May over a year earlier in a positive sign for growth in the third-largest economy.Exports rose 48.5 per cent in May, while imports were up 48.3 per cent,...Source: nzherald.co.nz - Business | 9 Jun 2010 | 8:00 pm Export prices soar 10pc as dairy dominatesDairy product prices rose by nearly one-third, dominating a 10.3 percent rise in the price of exported goods during the March quarter.This was the largest quarterly increase in export prices in nearly a decade, Statistics New...Source: nzherald.co.nz - Business | 9 Jun 2010 | 7:30 pm Higher expenses hurt Brown-Forman in 4th quarter (AP)
Source: Yahoo! News: Business News | 9 Jun 2010 | 7:30 pm Adventure tourism inquiry due for releaseA report on the state of New Zealand's adventure tourism industry is in the hands of Labour Minister Kate Wilkinson and its findings should be released publicly within a month.The review was sparked by a letter sent to Prime Minister...Source: nzherald.co.nz - Business | 9 Jun 2010 | 7:08 pm Goldman sued by hedge fund over notorious CDO dealNEW YORK (Reuters) - An Australian hedge fund is suing Goldman Sachs Group Inc over an investment in a subprime mortgage-linked security that contributed to the fund's demise in 2007.
Source: Reuters: Business News | 9 Jun 2010 | 7:02 pm Small banks lobby against regulatory overhaul provisionsProposed regulations would make it harder for community institutions to serve their customers and to expand lending, financial industry groups say.The financial regulatory overhaul making its way through Congress is aimed squarely at the big banks given most of the blame for the credit crisis that brought the economy to its knees.
Source: L.A. Times - Business | 9 Jun 2010 | 6:50 pm Small banks lobby against regulatory overhaul provisionsProposed regulations would make it harder for community institutions to serve their customers and to expand lending, financial industry groups say. ...Source: RSS feed - channel BNPaperBusiness | 9 Jun 2010 | 6:50 pm Antitrust probe looms for Apple on mobile adsUS antitrust regulators plan to investigate whether Apple is unfairly restricting rivals such as Google and Microsoft in the market for advertisements carried on the iPhone, iPad and iPod, people familiar with the move saidSource: Financial Times - US homepage | 9 Jun 2010 | 6:43 pm AT&T fixes major iPad 3G security holeAT&T said late Wednesday that it has fixed a security hole that may have allowed hackers to access the e-mail addresses of more than 100,000 iPad 3G owners.Source: Business and financial news - CNNMoney.com | 9 Jun 2010 | 6:43 pm Brian Fallow : A lot of assumptions in OCR moveFor borrowers the Reserve Bank's statement this morning makes dispiriting reading, not just because it foreshadows a relentless series of interest rate rises over the next three years, but because it does so even after making a number...Source: nzherald.co.nz - Business | 9 Jun 2010 | 6:30 pm Bernanke points to modest US recoveryThe US economy is on a slow but sustainable path of recovery and has suffered little so far from the economic travails in the eurozone, Ben Bernanke, chairman of the Federal Reserve, saidSource: Financial Times - US homepage | 9 Jun 2010 | 6:06 pm Brazil raises rates to slow growthBrazil’s central bank raised its policy interest rate by three quarters of a percentage point in another sign that the country’s breakneck pace of growth is causing concern over rising prices.Source: Financial Times - US homepage | 9 Jun 2010 | 6:05 pm Card transactions up during MaySpending using electronic cards edged ahead during May, despite a fall in money spent on vehicle fuel, latest figures show.The 1 per cent rise in core retail transactions follows a 1.9 per cent fall in transactions during April,...Source: nzherald.co.nz - Business | 9 Jun 2010 | 6:03 pm Business big shot: Tim O’TooleAge 54 Source: Latest Business News from Times Online | 9 Jun 2010 | 6:01 pm The world won’t stop to let Britain get offThere was a unanimity on Monday that what the Prime Minister told Milton Keynes, and therefore the world, was that we were about to see big changes to “The British Way of Life” (hereinafter to be referred to as BWOL). Source: Latest Business News from Times Online | 9 Jun 2010 | 6:01 pm Online retail: Asos adopts alternative route to topDirecting your customers to your competitors would go against the grain for most retailers, but, then again, Asos is no ordinary retailer. Source: Latest Business News from Times Online | 9 Jun 2010 | 6:01 pm Cover may drop if tax rises, say insurersSpeculation is growing that the Government is planning to at least double the 5 per cent tax rate on general insurance premiums in this month’s emergency Budget. Source: Latest Business News from Times Online | 9 Jun 2010 | 6:01 pm Why IG Group is still worth a betIG Group is what you might call an index-linked investment. Not in the usual sense of an asset whose valued is pegged to inflation. Nor even like a fund manager, stockbroker or investment trust, whose shares tend to be geared to movements in stock market indices. Rather, the fortunes of the world’s biggest quoted spread-betting group tend to be linked not to the level of financial indices, but to their volatility. The more that indices pitch and weave, the better IG does. Source: Latest Business News from Times Online | 9 Jun 2010 | 6:01 pm Public sector should bear brunt of cuts, says CBIThe Government should axe the 50p top tax rate, reverse Labour’s raid on high-earners’ pension relief and ensure that planned changes to capital gains tax do not hurt investors. Source: Latest Business News from Times Online | 9 Jun 2010 | 6:01 pm AT&T Security Problem Exposes 114,000 iPad Email AddressesGawker reported that a security breach of data from Apple (NASDAQ: AAPL) iPad users whose wireless service with AT&T (NYSE: T) exposed 114,000 email addresses. AT&T’s bumbling about the matter brought the following response: “AT&T was informed by a business customer on Monday of the potential exposure of their iPad ICC IDS. The only information [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Jun 2010 | 5:34 pm Auto review: Aston Martin RapideAston Martin makes time stand still with the dazzling Rapide, its first sedan in more than 20 years.Albert Einstein once described his theory of relativity by saying: "When a man sits with a pretty girl for an hour, it seems like a minute. But let him sit on a hot stove for a minute and it's longer than any hour."
Source: L.A. Times - Business | 9 Jun 2010 | 5:33 pm Auto review: Aston Martin RapideAston Martin makes time stand still with the dazzling Rapide, its first sedan in more than 20 years. Albert Einstein...Source: RSS feed - channel BNPaperBusiness | 9 Jun 2010 | 5:33 pm Google seeks U.S. and European support on China censorshipOnly pressure from the West will get China to ease restrictions, the Internet giant's top lawyer says.Google Inc. may have pulled its search engine out of mainland China, but it's still pressing U.S. and European governments to take a stand on censorship as an unfair barrier to free trade.
Source: L.A. Times - Business | 9 Jun 2010 | 5:17 pm Beware the biggest moral hazard of them allMoral hazard has become the swine flu of 2010. Bankers, some politicians and a few vocal pundits warn us incessantly of the impending epidemic in our financial markets if Wall Street reform is enacted...Source: RSS feed - channel BNPaperBusiness | 9 Jun 2010 | 5:05 pm SEC probes second Goldman securityThe US Securities and Exchange Commission has stepped up its inquiries into a complex mortgage-backed deal by Goldman Sachs that was not part of the civil fraud charges filed against the bank in April, according to people close to the matterSource: Financial Times - US homepage | 9 Jun 2010 | 4:42 pm Write-Offs: 06.09.10
$$$ Neuberger Berman, proudly private, seeks an IPO [Reuters] $$$ Economist Edward Hugh Gets His Close-up [Daily Intel] $$$ Is a $20 bet too steep for entrance into a World Cup pool? Felix Salmon does the math. (The one I was going to do is $100…So I hope the answer is no.) [Reuters] $$$ People Ask Ace Greenberg To Kill Their Deer All The Time [NYO] $$$ Bill Thomas: “I hope people understand that no matter how much any Goldman Sachs spokesperson says that they’re working with us, they aren’t. Otherwise we wouldn’t have issued the subpoena.” [Bloomberg]
 Source: Dealbreaker | 9 Jun 2010 | 4:22 pm Drop in energy stocks punctures early market rally (AP)
Source: Yahoo! News: Stock Markets News | 9 Jun 2010 | 4:19 pm Summary Box: Slide in energy stocks spoils rally (AP)AP - ENERGY DROP: A slide in shares of BP on concern about the costs of the Gulf of Mexico oil spill pounded energy stocks and dragged the market lower. BP fell 15.8 percent to a 14-year low.Source: Yahoo! News: Stock Markets News | 9 Jun 2010 | 4:06 pm CBI says 'bold and ambitious' Budget needed for growthThe CBI has called on George Osborne to produce a "bold and ambitious" Budget on June 22, without imposing damaging tax increases and cuts to long-term capital spending plans.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jun 2010 | 3:52 pm How the major stock indexes fared on Wednesday (AP)AP - The stock market had another late-day slide, this time because of fears that the Gulf oil spill will threaten BP's dividend and perhaps land the company in bankruptcy court.Source: Yahoo! News: Stock Markets News | 9 Jun 2010 | 3:52 pm GM cuts 'won't change' despite failed aid pleaThe chief executive of General Motors Europe says he does not expect to "significantly" change cost-cutting plans after Germany rejected the carmaker's plea for state aid.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jun 2010 | 3:49 pm Judge Slaps Florida Ponzi Schemer with 50 Year Sentence
Source: Dealbreaker | 9 Jun 2010 | 3:40 pm Sir Fred Goodwin buys £3.5m property in EdinburghDisgraced banker blamed for the near-collapse of Royal Bank of Scotland buys secluded home described as one of Edinburgh's finest houses.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jun 2010 | 3:38 pm Money for Prudential deal simply wasn't thereThe aftershocks of Prudential's failure to land its massive AIA deal continue to reverberate.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jun 2010 | 3:29 pm BP shareholders pay a heavy price for Obama's foot-in-mouth rhetoricThe Gulf of Mexico oil spill has returned some grim statistics, none more so than the 11 dead rig workers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jun 2010 | 3:27 pm Short Strategy, Altria, BP, Ball Corp.: Taking StockSource: Bloomberg - All Podcasts | 9 Jun 2010 | 3:10 pm Ball Raised to `Outperform', Walgreen Cut to 'Neutral': AudioSource: Bloomberg - All Podcasts | 9 Jun 2010 | 3:08 pm Stocks Give Back Early Gains, End Lower (Market Update)A decline in the energy sector weighed on the broader indexes.
Source: SmartMoney.com | 9 Jun 2010 | 2:40 pm Presented By:Source: Dealbreaker | 9 Jun 2010 | 2:33 pm Start Living Again With A $35k/Night Hotel Room
As previously mentioned, now that the good times are here again, you can buy that $300,000 car you’ve had your eye on without feeling like people are judging you. You know what else you can do? Nay, that you’re obligated to do? Book a stay in a $35,000 per night hotel room. God, that feels so good to be able to say. Of course, no matter how the economy’s doing, there will always be haters who will question what you get for dropping 35 G’s. At the Four Season’s Ty Warner Penthouse, actually quite a bit of bang for your buck. A Maybach or Rolls-Royce (including driver, natch). At least two people devoted solely to the task of making sure your ass touches nothing but the finest of TP. The comfort of knowing no one gets on the cleaning staff without an MBA and CFA. A Venetian silk bedspread, atop a mattress that spontaneously blows you the moment you get in. And light bulbs. Lots of ‘em!
You know what they do use? The Internet, prior to your arrival, so they can see what type of porn you’ve recently downloaded in order make sure you’ve got all your faves. Ass Traffic Volumes 1-8 (9 and on are shit)? The entire TrannyBoy series? It’ll be waiting for you upon check-in.
The girl doesn’t come with the hot tub but I’m sure the butler on call 24-hours a day would be more than happy to trot on out and get you a similar model. Maybe one even better!
Source: Dealbreaker | 9 Jun 2010 | 2:33 pm Bernanke says recovery on track but jobs to lagWASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economic recovery was on a solid footing but cautioned it could be years before the jobs lost during the deep recession of 2008-2009 are restored.
Source: Reuters: Business News | 9 Jun 2010 | 2:14 pm Majestic Liquors, Neenah: Bloomberg Law Bankruptcy ReviewSource: Bloomberg - All Podcasts | 9 Jun 2010 | 1:58 pm Big Dividend & Buybacks Keep Coming (BG, FRX, IN, KBR, MON, VIA, WMT, CAT, FDX, TGT)So much for a double-dip recession, or at least that is what the waves of new share buybacks and dividend hikes from big key companies are saying. In recent days we have watched more dividend hikes and share buybacks. Share buybacks have been announced by Bunge Ltd. (NYSE: BG), Forest Laboratories Inc. (NYSE: FRX), Intermec [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Jun 2010 | 1:16 pm What $13 Trillion Could Buy (On the Street)U.S. debt will soon outstrip GDP. Some other ways we could spend that money.
Source: SmartMoney.com | 9 Jun 2010 | 1:15 pm DLA Piper's South Discusses State, Local Fiscal Challenges:BLAWSource: Bloomberg - All Podcasts | 9 Jun 2010 | 1:11 pm Watch Out Jamie, Crisis Commission is Gunning For You
Watch the latest business video at video.foxbusiness.com
Source: Dealbreaker | 9 Jun 2010 | 1:07 pm Ex-Raymond James Exec Says He Was Fired For Having Cancer
Now, it appears you can also get fired for having cancer. Just ask Stephen Fredericks, a former MD at Raymond James, who filed a lawsuit today against his former employer.
Ex-Raymond James exec sues, says he was fired after chemo [Bloomberg via InvestmentNews]
Source: Dealbreaker | 9 Jun 2010 | 12:44 pm UBS Messes With Client, Literally Gets A Bull’s Horns
 Just go with it for a sec. Let me ask you people something. If you were going to protest UBS, how might you do it? Stand outside the building chanting “UBS sucks”? Rent a helicopter and dump millions of 10-4’s on the roof? Smear a bunch of melted Toblerone bars on your shoes and track that shit through the lobby? Sure, if you were an unimaginative fuck, I guess you’d probably go with any one of those. Not Bauer Klemenz Marti. This UBS client wanted to think bigger. And weirder. More outside the box. He wanted people to say “This guy is fit for a straight jacket, we better listen to him.” Which is why after several months of threats and promises to do something about the unsatisfactory way in which he felt his money was being managed, he finally did it. This morning, he tied his pet bull to one of the bank’s branches in Grenchen and stayed there until 5:00PM. To send a message. And while I see nothing wrong with this and support it in the extreme, I can’t at this time say for sure what what exactly that message was, or what Marti was trying to accomplish with Calu (that’s the bulls name). He may have had her make a “deposit” with the bank. He may have brought her there as commentary on the service (or lack thereof) he’s been getting. He may have threatened to embarrass the firm by committing an act of love that dare not speak its name unless his demands were met. I really don’t know his rationale, as all reports so far have been in German. Regardless, there’s one thing that we can all take away from this– this guy and his bull for UBS chairman/CEO. A spokesman for UBS declined to comment. Update: Even better than I thought. I honestly feel like this guy has a window into my soul. Nomination stands, provided he grows the pair necessary to execute.
Muni vor der UBS-Filiale in Grenchen – Bettlacher Bauer Marti machte seine Drohung wahr [Grenchen]
Source: Dealbreaker | 9 Jun 2010 | 12:21 pm Golub, Levitt, Spence, Crescenzi, Schork, Mathias: SurveillanceSource: Bloomberg - All Podcasts | 9 Jun 2010 | 12:21 pm Fed’s Beige Book Steady, But With Inventory ConcernsThe Federal Reserve’s newest Beige Book comments are out. They were prepared at the Federal Reserve Bank of Chicago and the cut-off date for information was May 28, 2010. In short, the Fed found that economic activity continued to improve across all twelve Federal Reserve Districts, although it also noted that gains in many Districts [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 9 Jun 2010 | 12:10 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Wednesday:Source: Yahoo! News: Stock Markets News | 9 Jun 2010 | 11:57 am California political ad spending set for recordCalifornia is set for a year of record spending on political advertising after Meg Whitman poured $80m into her successful bid to win the Republican nomination to replace Arnold Schwarzenegger as the state’s governorSource: Financial Times - US homepage | 9 Jun 2010 | 11:57 am Jerome Kerviel: Yeah I Faked Some Trades
Source: Dealbreaker | 9 Jun 2010 | 11:30 am In Florida, Housing Bust Looms Over Bonds (Muni Bond Watch)Some bonds thought to be safe during the boom now lie in default.
Source: SmartMoney.com | 9 Jun 2010 | 11:25 am FTSE up on Bernanke comments, China exports (AFP)
Source: Yahoo! News: Stock Markets News | 9 Jun 2010 | 10:50 am Feds Raid Bonanno Family Boiler Room
FBI Raids ‘Boiler Room’ Stock Promotion Operation [Bloomberg]
Source: Dealbreaker | 9 Jun 2010 | 10:21 am Rajaratnam Seeks Reversal of Wiretap Ruling
The SEC wants the FBI’s wiretap evidence to bolster its civil suit against Raj and the other defendants but, the defendants are resisting, in part, because they say it was obtained illegally and are trying to suppress the evidence in the criminal case. The brief argues, in part, that Judge Jed Rakoff’s order forcing them to turn over the wiretaps to the SEC, is unconstitutional and attempts to “end-run” strict Title III disclosure limitations governing the release of wiretap recordings. In short, Raj’s lawyers argue that the decision will allow any court or tribunal anywhere, at any time, to compel a criminal defendant to hand over raw wiretaps for use in a civil case. Here’s more from the brief:
Source: Dealbreaker | 9 Jun 2010 | 10:13 am 3 Questions to Ask a Financial AdviserWho your adviser works for and how he's paid can make all the difference.
Source: SmartMoney.com | 9 Jun 2010 | 9:01 am The Mystery AdvisersThe Schwabs and Merrill Lynches may have greater name recognition, but many advisers still get strategic tips and tech support from lower-profile firms.
Source: SmartMoney.com | 9 Jun 2010 | 8:58 am The 15 Riskiest Children’s Products You Can BuyRecalls are a part of modern life. A manufacturer overlooks a defect or chemical byproduct. Somebody gets sick or hurt. People panic. The company offers refunds (a la McDonald’s recent Shrek glass refund), and people forget about it–at least until the next recall comes around. Amidst all these recalls, one thing stands out: Children are most affected. Every year, the US government recalls a ridiculous number of infant and child products. Nearly 95% of toys marketed and sold in the United States are being produced in low-regulation factories in China. When something slips into the sauce in one of those massive factories, or cost-controlling measures lead to poor products, children are the ones who really pay. To avoid injury, illness, or worse for your little one, you need to be prudent about what children’s products to buy. We figured out which products you need to be particularly cautious about–and how to buy nontoxic, safe products instead. 15. Jewelry
Kids’ jewelry has a reputation for containing lead and cadmium, which both contribute to varying levels of poisoning that may result in permanent brain damage and developmental delays. The Good Housekeeping Institute is leading the charge on independent testing of popular children’s toys. After purchasing items at Kmart, the Oriental Trading Company catalog and the Rag Shop, GHI got to work testing the birthstone necklace-and-earring sets; and religious and heart-shaped charms marketed for kids. One item came back with lead levels more than 400 times greater than government standards allow for. GHI’s advice to parents is to look for guaranteed 100% “lead free” or “no lead” labels; also look for jewelry that is made outside China and other developing counties. Opting for made in the USA is often a sure bet for safety. In January 2010, Walmart announced it would be removing all items linked to cadmium from its shelves nationwide while it conducted its own investigation and testing. Walmart said in a written statement, “The findings in this report are troubling and as the world’s largest retailer we have a responsibility to take swift action and we’re doing so.” How to buy smart: If you have a budding princess, or knight in your home, consider going with knitted or felted crowns or musical magical wands. When age appropriate, look for items with beads and stones for added sparkle and skip the plastics and the lead-likely toys. 14. Clothing
Kids’ clothes sometimes contain synthetic fibers that are either flammable or toxic due to cheaply sourced flame retardants used in many China-based clothing manufacturers. Sleepwear and cheaply made Halloween costumes are especially notorious for their shady chemistry. In 2001, the Disney Store, under the pressure from the U.S. Consumer Product Safety Commission (CPSC), recalled nearly 55,000 Princess Arial (Little Mermaid) costumes after flammability and ignition issues were confirmed. One four-year-old girl suffered burn injuries while wearing her costume. The same year, The Limited Inc. and its subsidiary, Mast Industries, agreed to pay $500,000 in civil penalties to settle allegations by the CPSC that the companies violated the federal Flammable Fabrics Act. The CPSC alleges that The Limited and Mast placed children at risk by knowingly importing and selling 100-percent polyester pajamas with a satin finish and 100-percent polyester fleece bathrobes that failed to comply with federal sleepwear flammability standards. How to buy smart: Natural fabrics like cotton, wool and silk are always a safe bet with kids’ wearables. Bamboo can be a great fabric to look for too, but if you’re eco-conscious, note that the bamboo is often prone to greenwashing. Cotton flannel pajamas are warm and snuggly and dress-up is more fun for both boys and girls when made with comfortable, wearing fabrics. 13. Baby bath seats
For children under the age of five, drowning is the third leading cause of accidental death in the United States. A reported 103 children have died in recent years due to poorly designed and used child bathing seats. Well-intentioned parents can the mistake that bathing aids are actually safety devices that can result in child injury and death. How to buy smart: Some of the newest bathing tubs on the market are designed to correct the dangers of many now discontinued products. Spa Baby Upright Tub is setting the standard for bathing safety and comfort. Spa Baby tubs are made of a safer plastic that contains no BPA, no paints (lead) and no sharp edges. Its upright bathing position is a more natural position for baby, similar to a fetal style position, which calms and relaxes. As with all baby bathing aids, its use is only safe for baby when a parent is engaged and at arms length at all times. 12. Infant walkers According to the American Academy of Pediatrics, in 1999 an estimated 9,000 children under 20 months were treated in emergency rooms for injuries associated with mobile (rolling) infant walkers and stationary entertainers. Most injuries were occurred at home and in conjunction with stairs while in their mobile walker. How to buy smart: A safer alternative to the mobile walkers is E and I’s Bungee Baby Bouncer. The bouncer has been approved by CPSC and is made of high-quality components that aid to the safety and comfort of your little one. Used as intended, with a caregiver’s watchful eye, can mean hours of happy playtime for baby. 11. Toys with design flaws
Badly-designed toys contain hidden dangers that aren’t always obvious until you bring them home. Playskool’s Magic Start & Crawl Stand, for example, was designed to help babies figure out how to stand up. Thanks to bad design, however, the Crawl & Stand tipped over on infants, giving them black eyes and cut lips. Another design flaw that proved dangerous was Mattel’s worldwide phenomenon, the Snacktime Cabbage Patch Dolls. The dolls were designed with battery-powered mechanical jaws that allowed kids to play-feed their toys, but these dollies developed an appetite for children’s hair and fingers, causing the Consumer Product Safety Commission to offer a refund program for the dolls. How to buy smart: Buy from a specialty store like NaturalPod.com, an online company that offers a large selection of quality and fun toys. Their selection of Natural Dolls offers a pleasing selection for infants and older children. The dolls and their changeable wardrobes are hand-sewn and fashion-forward. 10. Baby slings
In many developing countries, mothers carry babies in a long swathe of fabric. Here in the West, we try to emulate that kind of natural carrier by designing fancy baby slings. But our fancy engineering doesn’t always equate to safety, even with something as innocuous as a baby sling. In March 2010, San Diego-based Infantino LLC finally caved to pressure by the CPSC to halt sales and recall their popular SlingRider and Wendy Bellissimo model baby slings (carriers). This came after the suffocation deaths of three babies were directly related to the use of their slings. “It does not matter how old your baby is at this point with the Infantino sling,” said CPSC’s Scott Wolfson. “Do not use it. This sling places the baby in a very deep part of the product,” Wolfson said. “What is so dangerous is when the fabric covers nose and mouth or when baby is turned into the body of the mother and the airway is restricted.” How to buy smart: The Sleepy Wrap is one baby carrier that securely and safely holds your baby close. The wrap is especially designed for a baby’s first year of life, but it may used as long it is comfortable for you and baby. The makers of the Sleepy Wrap know how proper use of any product increases safety and comfort, so their website dedicates an entire page to babywearing safety. And fashionistas, be still your beating hearts, because Sleepy Wrap will keep your baby and you looking great. 9. Sleep positioners
Even products that claim they increase safety may threaten your child. Take the Graco Sleep Positioner. The company says it encourages side or back sleeping. They market it as a device used to reduce the risk of Sudden Infant Death Syndrome (SIDS). However, these sleep positioners been known to suffocate children when they are not able to move their face away from the wedge. How to buy smart: The American SIDS Institute offers a list of what parent-to-be and current parents can do to reduce SIDS risks for their children. Rather than infant positioners, invest in a firm mattress that fits properly in the baby’s bed to reduce SIDS risk. Place the infant to sleep on their backs, with no covers, pillows or toys. Keep the sleeping crib in the parents’ room until the infant is at least six months of age. 8. Electric toys
You’ve probably seen it on TV. A family smiles proudly as a young girl pulls a freshly baked treat from her Easy Bake Oven. What the commercial doesn’t tell you is that the girls just like her have seriously burned their fingers on that very same Easy Bake. Hasbro Corporation, the makers of the Easy Bake Oven, have been plagued with recalls on their famous ovens. Parents have reported second- and third-degree burns, even amputations, due to the defective toys. The electrical toy danger doesn’t stop there. In February 2006 Creative Innovations and Sources, LLC recalled 8,000 of its Road Rage Stunt Machine Trucks; shortly after, it recalled another 180,000 of its Chinese-made radio-controlled Pro Flying Saucers. Both recalls came after reports of the battery charger overheating, smoking, melting or catching fire. The reports included burns to hands and fingers and household damages due to fire. How to buy smart: Be sure that what you are buying is age appropriate and suits the child’s abilities. Toy manufacturers declare the appropriate age range for all toys on the outside of the package. This helps to ensure the toy is being operated properly, lowering risk from improper use. You can also use the U.S. Consumer Product Safety Commission’s website to review your toy before purchase. One toy with a design that boasts moving parts and happy hands is the fantastic wooden fire truck by Fagus. The ladder is fully extendable, and detailed finishes are lead-free and safe for play. 7. Chemical-laden toys
Most recently, McDonald’s recalled its glass Shrek tumblers because they contained cadmium, a nasty industrial chemical. But the tradition of toxic chemistry in toys goes way back. In the late 1940s, the infamous Gilbert U-238 Atomic Energy Lab was marketed as a smart kid’s toy. It contained actual uranium ore—not something you’d want to expose anyone to (learn more about it on this NPR show). Season after season, chemicals are found in children’s Halloween masks. Kids are tucking their faces into masks that are painted with lead-intensive paints, and rounding out their alien costumes with x-ray guns loaded with heavy metals. Both are making children sick and have long-lasting health repercussions. The Barbie is another well-loved toy with a toxic twist. In 2007, the U.S. Consumer Product Safety Commission issued a recall of over 675,000 units of Mattel’s popular Barbie dolls and associated Barbie accessories after lead pain and other toxic components were found in independent test. How to buy smart: When you’re in the market for Halloween costumes, assume everything is dangerous until proven safe. Don’t buy lead-heavy costume jewelry, and avoid Halloween masks if at all possible. The Daily Green has a list of lead-free toys to start you off on the right foot. A couple of examples of safe, chemical-free toys include the Smithsonian Institute’s crystal growing kit and Mama K’s Aromatic Play Clay. 6. Strollers
You’d think a subpar stroller would lose a wheel or maybe fall apart at the frame. The more common problem, it turns out, has to do with kids losing fingers. In January 2010, the popular child’s gear company, Graco, recalled 1.5 million strollers after confirmed reports of finger amputations and other lacerating risks. British stroller-maker, Mclaren Company, had similar issues as Graco with finger amputations due to a faulty hinge design. Approximately 1 million recalls were issued as part of Mclaren’s clean-up. How to buy smart: In February 2010, Kidshealth.org’s Kate M. Cronan, MD in offered a great list of what to look for when shopping for a safe stroller. Britax USA is one company that turns out great kid’s products that are engineered and manufactured in the USA. 5. Children’s medicine
Over nearly 20 years, Tylenol has been plagued with massive recalls on a variety of their products, mostly due to sins repeated. Inspections continue to turn up unsanitary conditions in Tylenol plants, resulting in contaminated products ranging from their trusted children’s medicines to their popular adult products. A recall in 2009 involved 21 lots of children’s Tylenol products that were potentially contaminated by pneumonia-causing B. cepacia bacteria. How to buy smart: Manage the amount of drugs your child ingests by using natural remedies as a first line of defense. Oftentimes, an old-school salt gargle or bedrest will work wonders on your child’s ailment. Talk to you doctor or other parents to see what’s worked for them. Use drugs like Tylenol as a last resort, or when your doctor requires them. 4. Food
When it comes to food, we’re dealing with dirty, unregulated factories again. Yuck. In a 2009 voluntary recall, cereal giant Kellogg asked stores to stop selling its popular Keebler and Austin brand peanut butter crackers. A national salmonella outbreak linked to peanut butter was killing unsuspecting consumers. Kellogg took the action as a “precautionary measure” after one of its peanut paste suppliers, Peanut Corp. of America, announced a nationwide recall of peanut butter made in its Georgia plant. The suspected cause of the salmonella contamination? Bird droppings from animals that have taken up roost in the Georgia plant. Less often, even the innocent-sounding, non-multinational organic companies find heeby jeebies in their foods. Plum Organics issued a voluntary recall in late 2009 over a potential botulism scare involving their popular Apple and Carrot baby food. They discovered the “mixing error” through their own testing and recalled the batch in question. How to buy smart: Despite Plum’s recall, organics are usually a safe bet when comes to food choices for your little ones. They’re recalled far less often than the mass-produced, sprayed—err, conventional—stuff. MaraNatha is one clean and delicious choice for nut butters and snacks; you can find them online and in markets nationwide. Stonyfield and Earth’s Best baby foods are two more trustworthy companies that stay out of the headlines and in the cupboards of good shoppers. 3. Baby gates
An estimated 3,000 gate-related injuries to children under age of five required emergency medical care in 2004. Prior to new regulations put in place in 1985, many accordion-style gates with large openings allowed a child’s head to become entrapped in the opens resulting in strangulation. At least nine deaths were reported in connection with these older gates. More recently, there have been reports of resulting amputation of fingers due to gate use injuries and choking risk due to the swallowing of broken plastic gate components. Faulty design and poor construction come into play again in baby gate safety. How to buy smart: Kidshealth.org recommends looking for a safety gate that has been manufactory as recently as possible so that designs meet current regulations and standards. Be sure your gate has an ASTM/JPMA certification (American Society for Testing and Materials, and Juvenile Products Manufacturers Association). Look over all the components of your gate, including the attachment hardware that will keep your gate in position. Ask other parents what works for them and their families; look for gates that have an ASTM/JPMA certification and get high ratings from parents like you. Kidco is one company that gets high marks from users, while meeting or exceeding government standards. 2. Highchairs
Falls cause the most high chair injuries for children. But the risks don’t stop there. From highchair legs coming out of the seat to heads catching in the highchair tray or straps, leading to strangulation, the risks run the gamut. How to buy smart: When shopping for a new high chair, look for up-to-date safety features like a wide leg base, so the chair can’t tip. A five-point harness system consisting of a waist belt, a belt that fits between the child’s legs and shoulder straps keep the child upright and in the proper position. The Bloom Nano urban highchair is a stylish chair that is getting great reviews from parents putting it to use, and it fills the safety requirements set out by Consumer Reports. 1. Cribs
Poorly-designed cribs can trap or suffocate babies, something that we’ve been made all too aware of in the past couple of years. In April 2010, the now-defunct Simplicity caused a reported 13 deaths with their popular metal crib frame. Another recall was issued by Delta after its made-in-China cribs were connected to two deaths that they declined to publish details on. How to buy smart: A safe investment is to buy cribs that are made in the USA, for materials and painted finishes used, and structural integrity. Berg Furniture and Land of Nod are two companies that are making safe and beautiful furniture for families.
Source: Business Pundit | 9 Jun 2010 | 8:11 am 2010 New Yorker Desk Diary GiveawayThe people at Conde Nast recently sent me a box of 2010 New Yorker desk diaries to give away to Business Pundit readers. The desk calendars are high-quality and look great (you can see photos of them here). Each calendar date gives you hourly spaces to write in meetings or appointments from 8am-6pm. There’s also space for notes and weekend planning. Every other page includes a miniature calendar for the current month, the month after that, and the month before the current month (eg. June also features May and July). They’re really handy for people who have lots of appointments and work relatively normal (8am-6pm) hours. The desk diaries also include beautiful New Yorker cover art, comics, and graphics. The front of the desk diary includes a page of common toll-free numbers that business travelers can use (major airlines, hotels, car rental agencies, etc.). That’s followed by a New York City section, featuring restaurants, museums, and other entertainment. There are subway, bus, and detail maps of Manhattan and the greater New York area. There’s also a time zone map of the US, international dialing codes, currency names, an address section, and more. To put it simply, the desk diaries are slick. I’ll send the first 5 people to comment on this post a free desk diary. Please include your email so that I can get in touch with you for your mailing address.
Source: Business Pundit | 9 Jun 2010 | 8:08 am China watchdog OKs giant Agricultural Bank IPO (AP)AP - China's stock regulator has approved Agricultural Bank of China's plans for an initial public offering in Shanghai and Hong Kong worth well over $20 billion that may be the world's biggest ever, despite current market doldrums.Source: Yahoo! News: Stock Markets News | 9 Jun 2010 | 7:55 am Gold Rises on Possible Double Dip Recession: AudioSource: Bloomberg - All Podcasts | 9 Jun 2010 | 7:54 am PC-Tel Raised to `Buy,' Hess Cut to `Market Perform': AudioSource: Bloomberg - All Podcasts | 9 Jun 2010 | 7:53 am Former eBay, HP CEOs Triumph in CA Primaries
Former eBay CEO Meg Whitman and former HP CEO Carly Fiorina are moving up in California politics. Whitman will be the GOP candidate against Jerry Brown, while Fiorina will run for Senate against Democrat Barbara Boxer. The Wall St. Journal has the story: “Career politicians in Sacramento and Washington, D.C., be warned because you now face your biggest nightmare: Two businesswomen who know how to create jobs, balance budgets and get things done,” Ms. Whitman said in her victory speech Tuesday night in Universal City, Calif. (B)oth candidates, having tacked right to win over conservatives in the primaries, must convince California’s historically moderate electorate that they have better solutions to the state’s economic and political paralysis than their veteran liberal rivals. Both must also show they can make nice with the state’s diverse ethnic and economic demographics, possibly softening their primary-race rhetoric on issues such as illegal immigration. Amid a generally light turnout statewide, some Republicans who marked their ballots for the two women said they did so, in part, because of their business experience. “We need some business people who know how to run businesses in our government,” said 62-year-old Frank Barragan, an airline-service representative who voted for both women at a precinct in San Francisco’s Glen Park neighborhood. Added Steve Fryer, a 72-year-old investment banker who also voted for the former CEOs in Newport Beach: “Business people know what the real world’s all about, and I’m afraid that politicians don’t. I think fiscal conservative is the most important thing you could be right now” because of the state economy’s woes. It would also behoove voters to look at both women’s histories as CEOs of their respective companies. Whitman and Fiorina have vastly different reputations in Silicon Valley. I wouldn’t be surprised to see some of those strengths (and, in Fiorina’s case, flaws) manifest in government office. This is going to be interesting.
Source: Business Pundit | 9 Jun 2010 | 7:53 am Campbell on Stocks, Shaw on Bernanke's Testimony: First WordSource: Bloomberg - All Podcasts | 9 Jun 2010 | 7:40 am Not Time for a Rate Change -- Yet (Market Update)WHAT'S HAPPENING NOW: Bernanke expected to stick to his previous statements in speech.
Source: SmartMoney.com | 9 Jun 2010 | 5:24 am Living Proof that Nintendo Kicks Butt
Source: Business Pundit | 9 Jun 2010 | 4:44 am
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