World Business News Headlines for June 14, 2010

Dem rises in Fla. Senate race despite odd baggage (AP)

AP - Boxer Mike Tyson was the best man at his wedding. Hollywood madam Heidi Fleiss lived in his guest house. And the television ads for Jeff Greene's out-of-nowhere bid for Florida's Senate seat are financed by a fortune made from betting on the fall of the housing market.

Source: Yahoo! News: Business News | 14 Jun 2010 | 4:11 am

Report: US finds mineral riches in Afghanistan (AP)

AP - A team of U.S. geologists and Pentagon officials has discovered vast mineral wealth in Afghanistan, conceivably enough to turn the scarred and impoverished country into one of the world's most lucrative mining centers, The New York Times reports.

Source: Yahoo! News: Business News | 14 Jun 2010 | 4:10 am

Obama plans fourth tour of Gulf oil spill (AP)

AP - President Barack Obama is going back to the Gulf of Mexico, this time venturing on to new ground tainted by oil, before he speaks to the nation about what he's seen in the afflicted states and what to expect in the weeks ahead.

Source: Yahoo! News: Business News | 14 Jun 2010 | 4:10 am

World stocks rise on improving growth outlook (AP)

AP - World stocks rose Monday as stronger economic data in Europe and the U.S. boosted confidence in the global economic recovery and eased worries about the debt crisis.

Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 4:09 am

World stocks rise on improving growth outlook (AP)

AP - World stocks rose Monday as stronger economic data in Europe and the U.S. boosted confidence in the global economic recovery and eased worries about the debt crisis.

Source: Yahoo! News: Business News | 14 Jun 2010 | 4:09 am

China Energy Consumption Soars In Another Sign Of Expansion

China’s rapacious appetite for energy could still drive up global prices for crude and coal. China.org reports that China’s May electricity consumption growth slowed from April despite a year-on-year increase of 20.8 percent, indicated statistics released by National Energy Administration (NEA) Sunday. Total electricity consumption reached 348 billion kilowatt-hours (kWh) in May, up 20.8 percent [...]

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Source: 24/7 Wall St. | 14 Jun 2010 | 4:09 am

BP bosses to hold dividend talks

BP directors will meet later to discuss whether to suspend dividends to shareholders, following the Gulf of Mexico spill.
Source: BBC News | Business | World Edition | 14 Jun 2010 | 4:09 am

OBR cuts borrowing estimate, raises structural gap

Britain’s new, independent budget watch dog on Monday cuts its estimates of U.K. economic growth and public borrowing over the next five years, but warns that the expected deficit will still result in an unsustainable rise in public debt.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 4:08 am

Asian stocks rally on consumer confidence

Asian shares finish higher Monday as an improvement in U.S. consumer sentiment helps provide support for many of the region’s exporters.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 4:03 am

UK growth forecast is downgraded

The new independent fiscal watchdog downgrades the economic growth projections for the UK economy.
Source: BBC News | Business | World Edition | 14 Jun 2010 | 4:02 am

BP Costs Hit $1.6 Billion As Obama Hits TV

BP plc (NYSE: BP) says its cost for the Deepwater Horizon disaster hit $1.6 billion this weekend. More than 51,000 people organizations or states have made claims against the company. It is finally appearing realistic that BP’s costs could go into the tens of billions of dollars. President Obama will go on national TV tomorrow. [...]

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Source: 24/7 Wall St. | 14 Jun 2010 | 4:01 am

Indications: U.S. stock futures climb on growth hopes

U.S. stock futures rise Monday as confidence returns that global growth won’t be curtailed by the European debt crisis.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 4:00 am

Europe Markets: European shares start new week with gains

European shares started the new week on a bright note Monday, with investors picking up shares of companies leveraged to global economic growth, as Axa and Societe Generale also advanced on deal news.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 3:58 am

BOE wrestles with spare capacity in U.K. economy

Measuring the degree of spare capacity in the economy isn’t a straightforward task, but it’s likely that the economic crisis has dented companies’ supply capacity, staff economists said in an article in the Bank of England’s quarterly report published Monday.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 3:45 am

International auditors start work on Greek budget (AFP)

AFP - EU and IMF auditors trawled through the Greek budget on Monday to assess the progress of draconian spending cuts which the government says are ahead of targets.

Source: Yahoo! News: Business News | 14 Jun 2010 | 3:43 am

UK's budget office cuts outlook as austerity looms (AP)

AP - Britain's new Office for Budget Responsibility offered a bleak outlook Monday in its first forecasts for economic growth and public finances, setting a baseline for the new government's emergency budget next week.
Source: Yahoo! News: Business News | 14 Jun 2010 | 3:32 am

Petrobras: A $25 Billion Share Offering, A Challenge To Deepwater Drilling

Petrobras, the huge oil firm controlled by the Brazilian government, plans to raise $25 billion in the capital markets–one of the largest share offerings in history. The money will go to support the cost of drilling for reserves off Brazil’s coast which are in water perhaps as deep as any in the Gulf of Mexico. [...]

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Source: 24/7 Wall St. | 14 Jun 2010 | 3:29 am

Markets extend recent gains

Investors continue to bet on riskier assets as fears about the European sovereign debt crisis recede and hopes for the global economy become more entrenched
Source: Financial Times - US homepage | 14 Jun 2010 | 3:26 am

Stocks primed for a pop

U.S. stocks were poised to kick off the week with a rosy start Monday, as investors around the world took a more optimistic view of the economic outlook.
Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 3:24 am

Resolution plans £2bn rights issue to fund Axa acquisition

Resolution will fund its planned £2.75bn takeover of the Axa's UK life assurance arm with a rights issue, Clive Cowdery's investment vehicle said on Monday.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 3:16 am

Resolution in talks over Axa deal

The owner of Friends Provident, Resolution, confirms it is in talks about buying Axa's UK life assurance businesses.
Source: BBC News | Business | World Edition | 14 Jun 2010 | 3:13 am

Fannie Mae And Freddie Mac Bailouts Could Cost $1 Trillion

The cost of the bailouts of Freddie Mac (NYSE: FRE) and Fannie Mae (FNM) could rise as high as $1 trillion, according to Bloomberg. Even the most modest projections call for the price tag to be close to $200 billion. The government owns 80% of the two financial firms and has extended them nearly $150 [...]

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Source: 24/7 Wall St. | 14 Jun 2010 | 3:11 am

A lobbying tempest engulfs financial overhaul (AP)

AP - Congress' final tinkering with Wall Street overhaul this month offers lobbyists a last-ditch shot to reshape the package on behalf of clients with billions at stake.

Source: Yahoo! News: Business News | 14 Jun 2010 | 3:10 am

China Strategic: may seek AIG Taiwan deal extension

HONG KONG/TAIPEI, June 14 (Reuters) - China Strategic , one of the buyers of AIG's Taiwan unit, could talk about extending the stalled $2.2 billion deal if needed, but hopes for a conclusion soon, its...
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 3:07 am

US, Japan surveys bring optimism to Asian markets

Asian stock markets rose on Monday as investors took their cue from surveys out of the United States and Japan that both show growing optimism about the state of the global economy. ...
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 3:01 am

US, Japan surveys bring optimism to Asian markets (AFP)

AFP - Asian stock markets rose on Monday as investors took their cue from surveys out of the United States and Japan that both show growing optimism about the state of the global economy.

Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 3:01 am

Travel Discounts for Seniors: How to Cash In (The New Retirement)

The travel industry got rid of senior discounts; here are new ways to save.

Source: SmartMoney.com | 14 Jun 2010 | 3:01 am

To Return to Stocks or Wait on the Sidelines? (Pundit Watch)

As the recovery sputters, strategists mull whether to buy back in.

Source: SmartMoney.com | 14 Jun 2010 | 3:01 am

10 Things Your B&B Won't Tell You (10 Things)

How to get the best deals and service out of a bed and breakfast.

Source: SmartMoney.com | 14 Jun 2010 | 3:01 am

Midlife Crisis-Management (Magazine Cover)

For boomers planning a sabbatical, vacation or career move, financial pros have some advice.

Source: SmartMoney.com | 14 Jun 2010 | 3:01 am

Financial Reform's Impact on Mortgages

As the legislation wraps up, what will it mean for borrowers?

Source: SmartMoney.com | 14 Jun 2010 | 3:01 am

Honda puts foot down over China settlement

The Japanese carmaker has spelt out a take-it or leave-it pay settlement to striking workers at a components factory in the south of the country
Source: Financial Times - US homepage | 14 Jun 2010 | 2:57 am

The immigration brain drain

If you're an immigration lawyer, this is a busy time of year. Each April the U.S. begins to accept new applications for H-1B work visas -- the sort reserved for the highly skilled foreigners coveted by U.S. firms. This year 65,000 H-1B visas are available.
Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 2:53 am

Eurozone Banks Have $727 Billion Exposure To Weak EU Nations

International banks headquartered in the Eurozone have $727 billion in exposure to debt from Greece, Spain, Portugal, and Ireland. The is 62% of the exposure to banks worldwide, according to a study by the Bank for International Settlements. French and German banks were particularly exposed to the residents of Greece, Ireland, Portugal and Spain. At [...]

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Source: 24/7 Wall St. | 14 Jun 2010 | 2:53 am

India's May inflation rises to 10.2 percent

India's headline inflation accelerated faster than expected to 10.2 percent in May over last year, as inflation spreads from food and fuel to core manufacturing prices, government data...
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 2:49 am

Ex-Enron CEO speaks from prison

When Jeff Skilling, the former Enron CEO, was convicted on 19 counts, the headline of the Houston Chronicle read "Guilty! Guilty!" Sentenced to 24-plus years in prison, Skilling had been a wealthy executive who went too far in pursuit of profit and caused financial pain and devastation to thousands of investors, employees, and contractors with his decisions at the helm of Enron. Few if any in the media or public rose to his defense or mourned his imprisonment.
Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 2:46 am

Stronger euro boosts oil prices in Asia

Oil prices were up in Asian trade on Monday as a strengthening euro lifted the market, analysts said. New York's main futures contract, light sweet crude for delivery in July, gained 96...
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 2:45 am

China's Fosun buys 7.1% stake in Club Med

French holiday specialist Club Mediterranee late Sunday says Chinese conglomerate Fosun International had acquired a 7.1% stake, making it one of its key strategic shareholders and a pillar of its expansion plans in the region.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 2:45 am

London Markets: British shares post broad advance but BP declines

British shares advance on Monday, with gains for miners outweighing more losses for oil giant BP as it continues to battle to stem the massive oil spill polluting the Gulf of Mexico.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 2:44 am

FAA under pressure to open US skies to drones

Unmanned aircraft have proved their usefulness and reliability in the war zones of Afghanistan and Iraq. Now the pressure's on to allow them in the skies over the United States. The...
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 2:40 am

Honda China strike could spur broader worker demands

ZHONGSHAN, China/TOKYO (Reuters) - A strike at a Honda Motor parts supplier in China could augur broader demands across China's vast manufacturing belt as workers seek a bigger piece of the nation's growing economic wealth.

Source: Reuters: Business News | 14 Jun 2010 | 2:39 am

Majestic toasts big profits rise

Majestic Wine sees its annual profits more than double, lifted by its takeover of Lay & Wheeler and a lower minimum purchase rule.
Source: BBC News | Business | World Edition | 14 Jun 2010 | 2:38 am

Commission calls for bank reform

Risk-free accounts guaranteed by the government should be set up as part of a "reform of the banking system", a report says.
Source: BBC News | Business | World Edition | 14 Jun 2010 | 2:32 am

Increase in NZers on benefit

The number of people receiving a benefit increased by 0.6 per cent during May but overall numbers remain below forecast, the Government said today."With seasonal work winding up we expected to see a slight increase in unemployment...
Source: nzherald.co.nz - Business | 14 Jun 2010 | 2:23 am

Resolution in talks with AXA over $4 billion deal

U.K. life insurance group Resolution is in talks to buy some of the U.K. operations of French giant AXA in a 2.75 billion pound ($4 billion) deal.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 2:16 am

Media Digest 6/14/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters: Obama’s leadership will be tested this week by his reaction to BP plc (NYSE: BP) spill. Reuters: Jobs are critical to the housing recovery. Reuters: China’s AgBank will attempt a $23 billion IPO.Reuters: A member of the EU council said a strong euro masked problems in the region. Reuters: Short covering lifted the euro [...]

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Source: 24/7 Wall St. | 14 Jun 2010 | 2:04 am

BP to meet on dividend as costs reach $1.6 bln

BP’s board members were due Monday to determine their strategy on dividend payments as the company said that the cost of cleaning up the still-uncapped Gulf of Mexico oil spill has reached $1.6 billion.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 2:04 am

Obama wants BP to set up damage claims fund

President Barack Obama will visit the Gulf states affected by the oil spill on Monday and Tuesday and then address the nation on Tuesday night from the White House on the next steps in responding to the environmental catastrophe, his senior adviser said Sunday.
Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 2:03 am

Microsoft's demise 'greatly exaggerated'

It has recently been popular to prognosticate Microsoft's impending doom, but there's one big reason to believe in a successful future for the software giant: Cash. Microsoft is sitting on a giant pile of it, and it makes billions more every quarter.
Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 2:02 am

Dana Petroleum pays £270m for Petro Canada Netherlands

Dana Petroleum, the British oil and gas explorer, is to pay €328m (£270m) for Petro Canada Netherlands, which operates in the Dutch sector of the North Sea.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 2:00 am

Capital Expenditure Crucial in the South African Gold Mining Industry, Says Frost & Sullivan

Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 2:00 am

A lobbying tempest engulfs financial overhaul

Congress' final tinkering with Wall Street overhaul this month offers lobbyists a last-ditch shot to reshape the package on behalf of clients with billions at stake. Even as the...
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 1:57 am

15 most hated fees (and how to beat 'em)

Stand up to the pesky charges -- from checked-bag costs to retirement plan expenses -- that bug you the most.
Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 1:54 am

Broad-based rally takes London higher

London equities continued to make modest progress on Monday, with higher risk resource and banking stocks leading a broad-based rally. The FTSE 100 was 40 points stronger at 5,203.77, a gain of...
Source: RSS feed - channel BNPaperBusiness | 14 Jun 2010 | 1:53 am

Feds under pressure to open US skies to drones

Teva raises stake in diabetes treatment developer

TEL AVIV, June 14 (Reuters) - Teva Pharmaceutical Industries has exercised an option to raise its stake in Andromeda Biotech, which is developing a treatment for juvenile Type I diabetes, Clal Biotechnology...
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 1:45 am

AXA in talks to sell British units (AFP)

AFP - French insurer AXA is in talks with British rival Resolution on a 3.3-billion-euro (4-billion-dollar) deal to sell its life insurance and savings businesses in Britain, the French company said on Monday.

Source: Yahoo! News: Business News | 14 Jun 2010 | 1:43 am

FTSE 100 rises at open (AFP)

AFP - Leading stocks rose strongly at the start of trading on Monday, echoing gains in Asia where markets were buoyed by positive economic surveys.

Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 1:40 am

EU, IMF delegation in Athens to review progress (AP)

AP - A delegation from the International Monetary Fund and the European Union is in Athens for an interim review of the country's efforts to pull itself out of a major debt crisis that pushed it to the brink of default.

Source: Yahoo! News: Business News | 14 Jun 2010 | 1:35 am

EU, IMF delegation in Athens to review progress

A delegation from the International Monetary Fund and the European Union is in Athens for an interim review of the country's efforts to pull itself out of a major debt crisis that pushed it
Source: RSS feed - channel BNewsBusiness | 14 Jun 2010 | 1:35 am

Buck stops here

The two men in the spotlight at the top of crisis-hit BP
Source: BBC News | Business | World Edition | 14 Jun 2010 | 1:35 am

India inflation rate crosses 10%

Inflation hits a 13-year high in India, as the rising cost of food and oil continue to put pressure on prices.
Source: BBC News | Business | World Edition | 14 Jun 2010 | 1:34 am

Majestic Wine profits more than double

Majestic Wine reported a 117pc rise in pre-tax profits boosted by sales of wines costing more than £20 a bottle.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 1:26 am

Ghana's dilemma

Will local people profit from new oil finds?
Source: BBC News | Business | World Edition | 14 Jun 2010 | 1:24 am

Peter Brimelow: Sound Advice sticks to bullish call

The letter that called the post-Crash rally is battered but still in stocks, reports Peter Brimelow.

Source: MarketWatch.com - Top Stories | 14 Jun 2010 | 1:20 am

Markets extend recent gains

Monday 08:00 BST. A more adventurous mood is gripping investors as worries about the impact of the eurozone sovereign debt crisis appear to fade. The FTSE All-World equity index, commodities and...
Source: RSS feed - channel BNPaperBusiness | 14 Jun 2010 | 1:13 am

SMALL-BUSINESS Q&A: Understanding tax rates for firms in L.A.

Dear Karen: I'm self-employed and work from home. Why does Los Angeles tax me on my revenue of $600,000 rather than on my profit of $50,000?
Source: RSS feed - channel BNPaperBusiness | 14 Jun 2010 | 1:00 am

SMALL BUSINESS: California Community colleges give firms an education

Workers are receiving free or low-cost training in a variety of subjects to keep them up to speed on fast-changing technologies or productivity-boosting methods. ...
Source: RSS feed - channel BNPaperBusiness | 14 Jun 2010 | 1:00 am

Airbus hopes Emirates order helps A380 take off

Tribune's Tom Petty venture

Tribune Interactive is partnering with TomPetty.com, the website for rock musician Tom Petty and his band, the Heartbreakers, to launch an online hub as part of the band's 40-city "Mojo" tour. That site, which launches Monday, offers music, merchandise and concert tickets. It can be reached through the main navigation bar of any of Tribune's newspaper or TV station websites, including the Los Angeles Times (www.latimes.com) and KTLA-TV Channel 5 (www.ktla.com).

Source: L.A. Times - Business | 14 Jun 2010 | 1:00 am

After wild swings, stocks are where they began

The stock market has been swinging wildly but going nowhere.

Source: L.A. Times - Business | 14 Jun 2010 | 1:00 am

SMALL-BUSINESS Q&A: Understanding tax rates for firms in L.A.

Dear Karen: I'm self-employed and work from home. Why does Los Angeles tax me on my revenue of $600,000 rather than on my profit of $50,000?

Source: L.A. Times - Business | 14 Jun 2010 | 1:00 am

Business travelers are moving again, but frugally

Some are flying only coach. Other steps to cut expenses include shared rooms.

After an economic slump that put the brakes on business travel, the corporate world appears to be redeploying workers again to attend out-of-town meetings, conferences and conventions.

Source: L.A. Times - Business | 14 Jun 2010 | 1:00 am

SMALL BUSINESS: California Community colleges give firms an education

Workers are receiving free or low-cost training in a variety of subjects to keep them up to speed on fast-changing technologies or productivity-boosting methods.

Small businesses need all the help they can get to improve their chances for success, especially when it comes to training workers.

Source: L.A. Times - Business | 14 Jun 2010 | 1:00 am

Airbus hopes Emirates order helps A380 take off

The airline's request for 32 more of the super-jumbo jets is welcome news for the European company and suppliers in California. But critics say concerns over the plane's long-term prospects remain.

The Airbus A380, the world's largest passenger jet, got a major boost when Emirates airline ordered 32 of the double-decked aircraft, raising prospects for a plane that some critics had derided as a white elephant.

Source: L.A. Times - Business | 14 Jun 2010 | 1:00 am

Tribune's Tom Petty venture

Business travelers are moving again, but frugally

Some are flying only coach. Other steps to cut expenses include shared rooms. After an economic slump that put...
Source: RSS feed - channel BNPaperBusiness | 14 Jun 2010 | 1:00 am

Business Bullet: Miners, BP, UK growth, Majestic

The latest news on: Miners, BP, UK growth, Majestic
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 12:58 am

NZ market little changed

The New Zealand sharemarket closed little changed but corporate activity gave investors something to think about in two stocks, and the latest oil exploration well off Taranaki proved a disappointment.The benchmark NZX-50 index...
Source: nzherald.co.nz - Business | 14 Jun 2010 | 12:53 am

Germany rejects GM loan request

German Economy Minister Rainer Bruederle says he has rejected a request for state aid by General Motors for its Opel division.
Source: BBC News | Business | World Edition | 14 Jun 2010 | 12:51 am

Investors are betting on a Black Monday-style collapse, BoE warns

Investors are placing bets on a Black Monday-style crash in the British stock market, the Bank of England warned.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 12:48 am

EU's Van Rompuy says strong euro masked problems

LONDON (Reuters) - The strength of the euro masked underlying fiscal problems within the euro zone, the President of the European Union, Herman Van Rompuy said in an interview published on Monday.

Source: Reuters: Business News | 14 Jun 2010 | 12:00 am

Dollar starts week strongly above US69c

The New Zealand dollar spent most of today above US69c after strengthening during the weekend.The NZ dollar was at US69.28c at 5pm from US69.08c at 8am, and 68.03c at 5pm Friday.News that retail sales fell 0.3 per cent in...
Source: nzherald.co.nz - Business | 13 Jun 2010 | 11:52 pm

China's AgBank seeks record $23 billion IPO

HONG KONG (Reuters) - The Agricultural Bank of China is seeking to raise more than $23 billion through a dual Hong Kong and Shanghai listing, according to documents on Monday, putting it on course for the world's biggest IPO.

Source: Reuters: Business News | 13 Jun 2010 | 11:35 pm

Business confidence in 'freefall'

Business confidence has seen its biggest drop since 1995 due to government rhetoric on spending cuts, a survey firm says.
Source: BBC News | Business | World Edition | 13 Jun 2010 | 11:14 pm

Jobs key to housing recovery

NEW YORK (Reuters) - The U.S. labor market will hold the key to a recovery in the hard-hit housing sector, according to a Harvard University report released on Monday.

Source: Reuters: Business News | 13 Jun 2010 | 10:02 pm

Midlife Crisis: How to Cut the Cost (Magazine Cover)

For retiring boomers, quitting a job or losing savings can have deep consequences.

Source: SmartMoney.com | 13 Jun 2010 | 10:01 pm

TPG has paper losses on four big deals: report

PHILADELPHIA (Reuters) - Private equity firm TPG had billions of dollars in paper losses on some of its biggest investments during the leveraged buyout boom, the Financial Times reported on its website.

Source: Reuters: Business News | 13 Jun 2010 | 9:23 pm

4G wireless technology: A look at what's ahead

As Sprint rolls out its 4G network and Verizon and AT&T; plan their own, The Times asks analyst Charles Golvin what cellphone users should expect. ...
Source: RSS feed - channel BNPaperBusiness | 13 Jun 2010 | 9:20 pm

4G wireless technology: A look at what's ahead

As Sprint rolls out its 4G network and Verizon and AT&T plan their own, The Times asks analyst Charles Golvin what cellphone users should expect.

The first cellphone in the U.S. to use fourth-generation wireless technology — better known as 4G — debuted this month with the promise of super-fast download speeds, smooth video streams and even video chat. The phone came from Sprint Nextel Corp.; Verizon Wireless plans to launch its 4G network this year, with AT&T Inc. to follow in 2011.

Source: L.A. Times - Business | 13 Jun 2010 | 9:20 pm

Allied Farmers wins $6m in LA property litigation

Allied Farmers has announced a second positive development in the portfolio it purchased from Hanover Finance, though it continues to signal a further decline in the carrying value of the assets.Last week the company said it had...
Source: nzherald.co.nz - Business | 13 Jun 2010 | 9:00 pm

NZ Dollar Outlook: Kiwi to be capped at US70c with offshore news the focus

The New Zealand dollar will struggle to push above 70 US cents this week, after it surged 3.8 per cent since Thursday's quarter-point rate hike by Reserve Bank Governor Alan Bollard, with offshore news the main focus.Four of seven...
Source: nzherald.co.nz - Business | 13 Jun 2010 | 8:30 pm

Department store sales lead April retail slump

New Zealand retail sales fell in April, led by department stores, indicating there hasn't yet been a pre-GST-hike pick-up in demand as households continue to deleverage.Retail sales fell 0.3 per cent in April, seasonally adjusted,...
Source: nzherald.co.nz - Business | 13 Jun 2010 | 7:30 pm

24/7 Wall St.’s Corporate Power Rankings: Week 22

Company Rank (last week) Symbol Comment Intel 4 (1) INTC Settlement of Dell probe of relationship with largest chip maker could take pressure off. SIA says that global chip sales hit extraordinary level in first quarter. Disney 3 (2) DIS ESPN about to get into potential gold mine with 3D ads. ABC ratings for NBA [...]

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Source: 24/7 Wall St. | 13 Jun 2010 | 7:30 pm

Households need to do more, says Bollard

New Zealanders should be doing more to address economic imbalances, especially external debt, the Reserve Bank says.Governor Alan Bollard told the Wellington Chamber of Commerce today that New Zealand has taken action to address...
Source: nzherald.co.nz - Business | 13 Jun 2010 | 7:00 pm

UAW meets as union looks to claw back from crisis (Reuters)

Reuters - United Auto Workers delegates will gather in Detroit this week to elect new leaders as the union emerges from the U.S. auto industry's near-death experience with fewer workers, lower wages and an uncertain set of bargaining chips.
Source: Yahoo! News: Business News | 13 Jun 2010 | 6:30 pm

UAW meets as union looks to claw back from crisis

DETROIT (Reuters) - United Auto Workers delegates will gather in Detroit this week to elect new leaders as the union emerges from the U.S. auto industry's near-death experience with fewer workers, lower wages and an uncertain set of bargaining chips.

Source: Reuters: Business News | 13 Jun 2010 | 6:30 pm

May Wang in court, returning tomorrow to face creditors

The Chinese businesswoman orchestrating a buy-up of the Crafar dairy empire has made the first of two scheduled appearances in court this week in relation to failed business dealings.May Wang made a brief appearance in the Auckland...
Source: nzherald.co.nz - Business | 13 Jun 2010 | 6:30 pm

Another 174 jobs to go at meatworks

The nation's biggest meat processor, Silver Fern Farms, is set to axe another 174 jobs at two of its Christchurch meatworks.The cooperative, formerly known as PPCS, axed about 1000 jobs in 2008 when it closed or cut back at six...
Source: nzherald.co.nz - Business | 13 Jun 2010 | 6:07 pm

AAPT could be sold by August - paper

Telecom could sell its trans-Tasman subisidary as early as August if it accepts one of several offers for the business, The Australian newspaper reports.Citing AAPT sources it didn't identify, the newspaper
Source: Business and financial news - CNNMoney.com | 13 Jun 2010 | 5:39 pm

Investors could be in for a bumpy ride

Markets could be in for another bumpy ride next week as investors continue to look for clues on where the global economy is headed. There will be no shortage of data to fuel the debate between bears and bulls. Economic reports are due on manufacturing, real estate and inflation, among others.
Source: Business and financial news - CNNMoney.com | 13 Jun 2010 | 5:36 pm

How to implement a systemic risk policy

The post-crisis debate has generated many initiatives to reduce systemic risk: higher capital and liquidity ratios; restraints on bankers' pay; and splitting banks. But these will not in themselves prevent...
Source: RSS feed - channel BNPaperBusiness | 13 Jun 2010 | 5:32 pm

The all-too-real phantom balance sheet

Back when most of us were in school, we learnt that one of the basic tools available for assessing the health of a business or a government was its balance sheet. It was a logical idea. Tally up the assets,...
Source: RSS feed - channel BNPaperBusiness | 13 Jun 2010 | 5:28 pm

Spirit Airlines pilots strike grounds flights

ATLANTA (Reuters) - Privately held Spirit Airlines said on Sunday it has canceled flights for the next few days as a pilots' strike continued.

Source: Reuters: Business News | 13 Jun 2010 | 4:13 pm

US banks set to lose swaps desks

Banks are likely to lose a key lobbying battle in the US over whether they will be forced to spin off their lucrative swaps desks, according to people familiar with financial reform negotiations in Congress
Source: Financial Times - US homepage | 13 Jun 2010 | 4:10 pm

US wants BP compensation set aside

Adm Allen says he is expecting BP’s response to his latest demands for a revised plan to cope with latest higher estimates of the amount of oil leaking from the well
Source: Financial Times - US homepage | 13 Jun 2010 | 4:08 pm

Obama demands more cash from BP over oil spill as crunch meeting looms

President Obama will demand that BP provides more money to handle the oil crisis and sets up a fund to meet claims when he meets the company's senior executives this week.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Jun 2010 | 3:44 pm

Price jump shocks coffee speculators

Speculators in commodities suffered multi-million dollar losses last week after the cost of robusta coffee jumped nearly 20 per cent in just three days
Source: Financial Times - US homepage | 13 Jun 2010 | 3:28 pm

BarCap to compete in dark pools of Europe

The investment banking unit of Barclays plans to launch a pan-European “dark pool” trading platform as it completes an 18-month drive to build an equities trading business
Source: Financial Times - US homepage | 13 Jun 2010 | 3:27 pm

TPG admits to big buy-out paper losses

TPG, the private equity firm, is sitting on billions of dollars in paper losses on some of its biggest investments during the buy-out boom, according to a report sent to its investors
Source: Financial Times - US homepage | 13 Jun 2010 | 3:25 pm

Office for Budget Responsibility ushers in the era of hard choices

Office of Budget Responsibility is set to unveil lower growth forecasts for UK economy as manufacturers urge definitive plans for cutting deficit.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Jun 2010 | 3:16 pm

Spending pledges on health and overseas aid 'unsustainable'

"Ring-fences" on health and overseas aid spending are "unsustainable" and should be dropped, the British Chambers of Commerce (BCC) says.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Jun 2010 | 3:13 pm

BP board considers dividend options

The BP board will debate exactly how to suspend its dividend payment on Monday - although no final decision will be made until after senior executives meet President Barack Obama later this week.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Jun 2010 | 3:10 pm

CBI sees slower growth later in year

Britain's economic growth remains on track but could slow during the second half of the year as a result of actions taken by the coalition Government to reduce the budget deficit, the Confederation of British Industry (CBI) has said.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 13 Jun 2010 | 3:07 pm

Honda Sends In Strike Breakers In China

Honda Motors (NYSE: HMC) is using good old-fashioned management tactics to overcome strikes that have shut some of its plants and related parts operations in China. The Japanese company agreed to improve wages in the locations, but has begun replacing workers with outside labor. According to The New York Times, “Factory managers began hiring a [...]

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Source: 24/7 Wall St. | 13 Jun 2010 | 3:06 pm

Ross sells 30% stake in SpiceJet

US financier Wilbur Ross has sold his stake in India’s Spice Jet for $127m in a deal that will enable him to cash out of one of the country’s most difficult sectors at a profit
Source: Financial Times - US homepage | 13 Jun 2010 | 2:36 pm

Spirit Airlines cancels flights through Tuesday

Spirit Airlines is canceling all of its flights through Tuesday, stranding thousands more passengers as a pilot's strike continues into its second day.

Source: L.A. Times - Business | 13 Jun 2010 | 12:49 pm

What goes up, down then winds up the same? Stocks (AP)

AP - The stock market has been swinging wildly but going nowhere.
Source: Yahoo! News: Stock Markets News | 13 Jun 2010 | 12:36 pm

FDA calls for genetic tests crackdown

The US Food and Drug Administration has called for regulation of companies selling personal genetic tests after one laboratory mixed up the results of nearly 100 clients
Source: Financial Times - US homepage | 13 Jun 2010 | 12:19 pm

ECB's Orphanides: Inflation not a concern: report

FRANKFURT (Reuters) - Inflation in the euro zone is not a worry despite the slightly higher forecasts in the recent European Central Bank staff projections, Governing Council member Athanasios Orphanides was quoted as saying on Sunday.

Source: Reuters: Business News | 13 Jun 2010 | 10:31 am

Onshore Winds Push Spill Toward Land As Slick Increases, Obama Demands Escrow

The NOAA reports that winds are likely to push oil ashore for most of next week, affecting the Gulf Coast from West of New Orleans to the Florida Panhandle. Onshore (SE/S/SW) winds are forecast to continue into next week at speeds less than 10 knots. Persistent onshore winds have resulted in northward movement of the [...]

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Source: 24/7 Wall St. | 13 Jun 2010 | 9:52 am

Vince Cable backs break-up of big banks

Vince Cable, the Business Secretary, has given official backing to recommendations that call for investment banks to be broken up.

Source: Latest Business News from Times Online | 13 Jun 2010 | 9:42 am

Stores running low on Verizon Droids

Source: Business and financial news - CNNMoney.com | 13 Jun 2010 | 9:29 am

Stocks look to Europe and U.S. economy (Reuters)

Reuters - Stock investors will keep a close eye on Europe this week, looking for signs the debt crisis may be stabilizing, while industrial production, housing starts and inflation data may offer more clues on the U.S. economic outlook.

Source: Yahoo! News: Stock Markets News | 13 Jun 2010 | 9:20 am

Stocks look to Europe and U.S. economy

NEW YORK (Reuters) - Stock investors will keep a close eye on Europe this week, looking for signs the debt crisis may be stabilizing, while industrial production, housing starts and inflation data may offer more clues on the U.S. economic outlook.

Source: Reuters: Business News | 13 Jun 2010 | 9:20 am

BP unlikely to cancel dividend, but mulls several ideas: source

* Mulls several ideas short of eliminating dividend - source

Source: Reuters: Business News | 13 Jun 2010 | 8:37 am

China Attacks US Congress Move To Press Yuan Issue

China has elected to play a game of chicken with members of Congress on the issue of revaluing the yuan. Several members of the House and Senate have told the Administration that if it will not press China to adjust the value of the Chinese currency in a way that would prevent it from sending [...]

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Source: 24/7 Wall St. | 13 Jun 2010 | 5:16 am

3 Funds With South African Exposure (Screens)

These funds dabble in the region hosting the World Cup.

Source: SmartMoney.com | 13 Jun 2010 | 3:01 am

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