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Murdoch in BSkyB takeover offerRupert Murdoch's News Corporation launches a bid to take full control of satellite broadcaster BSkyB.Source: BBC News | Business | World Edition | 15 Jun 2010 | 4:19 am Uncertain timesEcuador's banana growers fear for their futureSource: BBC News | Business | World Edition | 15 Jun 2010 | 4:17 am Housing shortage on the wayAs the nation struggles to shrug off the worst housing crash since the Great Depression, it may be hard to believe a housing shortage could be on its way.Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 4:15 am House price inflation back to 10%Annual house price inflation is back in double-digits, according to government figuresSource: BBC News | Business | World Edition | 15 Jun 2010 | 4:14 am Indications: U.S. futures rise as deals, data, Best Buy in viewU.S. stock futures rose Tuesday, with attention expected to focus on deal news and data as Wall Street recovers from Moody’s downgrade for Greece.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 4:09 am Lending price controls rejectedThe Office of Fair Trading backs away from recommending price controls on expensive forms of short term borrowing - typically accessed by poorer peopleSource: BBC News | Business | World Edition | 15 Jun 2010 | 4:05 am Economic Report: U.K. annual inflation slows in MayBritish consumer prices inflation proves slower than expected in May, but the annual pace remains well above the Bank of England’s target.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 4:03 am China’s Two-Headed Labor ProblemChina’s Premier Wen Jiabao says that his manufacturing labor force should be treated better. Jiabao’s comments come in light of a series of strikes at Honda Motor (NYSE: HMC) plants and supplier facilities. He should be careful what he wishes for. His wishes may come true. The central government is faced with two conflicting problems [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jun 2010 | 4:00 am Obama calls for clean-energy pushUS President Obama asks supporters to back a campaign for clean energy, as he visits areas affected by the BP oil spill.Source: BBC News | Business | World Edition | 15 Jun 2010 | 3:57 am Asian shares overcome choppy trade, end mostly upAsian markets overcome weak cues from Wall Street and Greece’s credit rating downgrade to end modestly higher in choppy trading Tuesday.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 3:55 am Tesco same-store sales stagnant in U.K., overseasSupermarket giant Tesco says fiscal first-quarter sales grew 8.2%, though comparable-store sales in both its home market and overseas were basically stagnant.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 3:51 am Public pensions costs 'to double'Nick Clegg says "unreformed" public sector pensions are unfair, as figures show spending on them will more than double by 2014/15.Source: BBC News | Business | World Edition | 15 Jun 2010 | 3:49 am Europe Markets: BSkyB, UBS gain as Europe moves off early lowsEuropean shares edged higher on Tuesday, helped by a takeover bid for BSkyB as well as a key vote in the Swiss parliament on the fate of UBS.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 3:49 am Swiss MPs back UBS-US tax dealSwitzerland's parliament has voted to approve a deal to provide the US with information on tax evasion.Source: BBC News | Business | World Edition | 15 Jun 2010 | 3:46 am Economic Report: German ZEW economic sentiment index dropsA widely-followed monitor of German investor sentiment falls sharply, underlining the fragility of the economic recovery in Europe.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 3:45 am Greece downgrade halts recent rallyThe rally in equities and the euro came to a shuddering halt on Tuesday after a downgrade of Greek sovereign debt by Moody’s to ‘junk’ reignited fears about the eurozoneSource: Financial Times - US homepage | 15 Jun 2010 | 3:42 am Cleanup crews must battle oil and heat, humidity (AP)AP - In the oil-fouled marshes of the Mississippi River delta, the sizzling high-noon heat beats down like a fist.Source: Yahoo! News: Business News | 15 Jun 2010 | 3:41 am SocGen targets 6 billion euro profit in 2012French bank Societe Generale said Tuesday that it’s targeting a net profit of 6 billion euros ($7.3 billion) in 2012 and annual revenue growth of 4% as it plans to open hundreds of new branches in Eastern Europe and Russia.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 3:41 am London Markets: BSkyB shares shine in lackluster FTSE 100Shares of satellite broadcasting firm British Sky Broadcasting surge Tuesday, boosted by takeover hopes, with the firm outperforming a lackluster British share market.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 3:34 am Brazil to lead agriculture boom as Europe imports (AP)AP - The rising economies of Brazil, China, and India will see strong growth in their agricultural sectors in the next decade as output remains stagnant among big importers in Western Europe, international experts forecast Tuesday.Source: Yahoo! News: Business News | 15 Jun 2010 | 3:32 am The 401(k): It's not dead yetQuestion: I'm 23 and contribute to my 401(k) plan. My employer also invests 4% of my salary in matching funds. But after reading a 2009 TIME Magazine story titled "Why It's Time to Retire the 401(k)" and seeing my parents lose significant amounts of their retirement savings after 9/11 and again in 2008, I'm wondering whether I should stop contributing to my 401(k). I'm confused. What is the best way to save long-term for retirement? --Andrew H.Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 3:28 am Apple iPhone Available In Any Color As Long As It Is BlackPeople who want to order the new iPhone from the Apple Inc (NASDAQ: AAPL) online store can do so now, as long as they are willing to get the phone with a black finish. No other colors are available and Apple has not said why. The Apple website allows customers to order the iPhone 4 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jun 2010 | 3:28 am China 'set to invest billions in debt-stricken Greece'China could sign a billion-euro investment deal with Greece on Tuesday, as the European nation battles to reduce its huge deficit.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 3:26 am 51 Million AAA Members to Benefit from New PartnershipSource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 3:20 am Stocks seen opening higherU.S. stocks were set to open higher Tuesday, ahead of a batch of economic readings, although gains could be limited amid anxiety about Europe's debt woes.Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 3:08 am China Real Estate: A Bubble Is Not A Bubble Until The Money Runs OutMany of China’s banks and financial regulators are concerned that real estate prices in the People’s Republic are too high. This is not a new assertion. Investor and analysts around the world have been concerned that tremendous growth of GDP on the mainland and liquidity produced primarily by the country’s $585 billion stimulus package have [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jun 2010 | 3:08 am Hewitt on EuropeEuro nervousness upsets cosy Franco-German allianceSource: BBC News | Business | World Edition | 15 Jun 2010 | 3:07 am Swiss parliament passes UBS deal with US (AFP)
Source: Yahoo! News: Business News | 15 Jun 2010 | 3:03 am Aleris Europe Wins Defence ContractSource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 3:02 am BRIC Check: Outlook for Emerging MarketsDeveloping economies are on a hot streak. Can they keep it up?
Source: SmartMoney.com | 15 Jun 2010 | 3:01 am 3 Stocks Projected to Double Earnings (Screens)Hough: Analysts foresee strong profit growth from these companies.
Source: SmartMoney.com | 15 Jun 2010 | 3:01 am Gulf Coast Vacations: Is It Time for Plan B? (Deal of the Day)How the oil spill will affect travelers heading to the Gulf Coast.
Source: SmartMoney.com | 15 Jun 2010 | 3:01 am BP Tests Mutual Fund ManagersThe Gulf disaster forces portfolio managers to make a tough decision.
Source: SmartMoney.com | 15 Jun 2010 | 3:01 am Tea Forte Singles Out the Perfect CupSource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 3:00 am Korn/Ferry Strengthens European Presence With Three New Senior ConsultantsSource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 3:00 am Stock futures signal slight gainsNEW YORK, (Reuters) - Stock index futures pointed to a slightly higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.25 percent, Dow Jones futures up 0.16 percent...Source: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 2:56 am Stock futures signal slight gainsNEW YORK, (Reuters) - Stock index futures pointed to a slightly higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.25 percent, Dow Jones futures up 0.16 percent and Nasdaq 100 futures up 0.04 percent at 0820 GMT.
Source: Reuters: Business News | 15 Jun 2010 | 2:56 am Stock futures signal slight gains (Reuters)
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 2:56 am BSkyB rejects $11.6 billion News Corp buyout proposalLONDON (Reuters) - BSkyB rejected a proposal by major shareholder News Corp to buy the rest of the company in a deal that would value BSkyB at 12.3 billion pounds ($19 billion) but said it would recommend a higher offer.
Source: Reuters: Business News | 15 Jun 2010 | 2:56 am UK inflation falls to 3.4% in MayUK inflation falls to 3.4% in May from 3.7% in April, but remains well ahead of the Bank of England's 2% target.Source: BBC News | Business | World Edition | 15 Jun 2010 | 2:55 am UK inflation falls faster than expected in MayBritish consumer price inflation fell slightly faster than expected in May, helped by lower food costs and boosting hopes that April's 17-month high marked a peak.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 2:49 am A $20 Billion Check From BP plc?BP plc (NYSE: BP) faces what may be the hardest decision in its history. The U.S. government has supposedly asked for a $20 billion escrow fund to cover clean-up costs and other liabilities stemming from the Deepwater Horizon disaster. The UK-based firm knows that its obligations may not end at $20 billion, but the Obama [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jun 2010 | 2:48 am Asia growth boosts TescoTesco says UK sales growth was almost flat in the last three months, as it battled with falling food prices.Source: BBC News | Business | World Edition | 15 Jun 2010 | 2:40 am BSkyB rebuffs buyout bid from News Corp. (AP)AP - Directors of British Sky Broadcasting said Tuesday they have rebuffed a buyout offer from Rupert Murdoch's News Corp. that values the company at 12 billion pounds ($17.7 billion), but were willing to back a sweeter bid.Source: Yahoo! News: Business News | 15 Jun 2010 | 2:36 am World stocks mixed amid Europe anxiety (AP)
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 2:30 am World stocks mixed amid Europe anxiety (AP)
Source: Yahoo! News: Business News | 15 Jun 2010 | 2:30 am BSkyB seeks extra £1bn from MurdochThe satellite broadcaster’s directors have demanded another £1bn from News Corporation to give up full control of the UK pay-TV group to the media conglomerateSource: Financial Times - US homepage | 15 Jun 2010 | 2:27 am BSkyB rejects $11.5 billion News Corp. bidNews Corp. said Tuesday that it has had a 7.8 billion pound ($11.5 billion) bid rejected for the 61% of British Sky Broadcasting that it doesn’t already own, though the U.K. satellite television provider and broadcaster said it might accept a higher offer.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 2:25 am Rally snuffed out as Moody's slashes GreeceLONDON (Reuters) - A recovery in stocks and the euro fizzled out on Tuesday after Moody's downgraded Greece to junk status, reigniting anxiety about Europe's debt crisis and causing a slight retreat from riskier assets.
Source: Reuters: Business News | 15 Jun 2010 | 2:23 am Painful health care lessons from Mass.The best guide to how President Obama's historic health-care legislation will reshape the nation's medical marketplace and fiscal future is the pioneering model in Massachusetts. The Bay State's reform program started in late 2006, and it shares virtually all the major features of the new federal plan.Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 2:19 am 6 best investing ideas you've never heard ofNever get too comfortable.Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 2:09 am BSkyB could support proposed News Corp takeover at 800p a shareBSkyB shares jump as directors say proposed takeover by Rupert Murdoch's News Corp might be possible at 800p.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 2:08 am California's economy to see sluggish recovery this year, UCLA economists sayBut the state's inland areas are likely to lag behind the coast, according to the UCLA Anderson Forecast.California stands to gain some jobs this year but recovery will be sluggish, and the state's inland areas will bear the brunt of the continuing economic pain, according to a forecast scheduled to be released Tuesday by UCLA's Anderson School of Business.
Source: L.A. Times - Business | 15 Jun 2010 | 2:06 am Elbit Imaging Raises Additional $27 Million in Capital Commitments for EPN Real Estate Fund From Menora Mivtachim InsuranceSource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 2:06 am Car sales slide in EU as incentives dry upWeakening government support and mounting economic pressures combine to bog down car sales in the European Union last month, according to a report from industry association ACEA on Tuesday.
Source: MarketWatch.com - Top Stories | 15 Jun 2010 | 2:04 am Oil hovers above $75 as investors eye demand (AP)
Source: Yahoo! News: Business News | 15 Jun 2010 | 2:01 am GoldenSource to Discuss Role of Standardisation in Reducing Risk at Corporate Actions WebinarSource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 2:00 am 5 tourist spots in turmoilThey were once hot vacations spots that are now global hotpsots. But don't let the headlines fool you - you can still visit them and be safe.Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 1:57 am FTSE 100 slides at open (AFP)
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 1:57 am NZ dollar continues to slideThe New Zealand dollar continued its gradual descent from last night's four-month highs against the US dollar, as a credit downgrade on Greece weighed on equity markets and currencies around the world.By 5pm, the kiwi was at US69.30c,...Source: nzherald.co.nz - Business | 15 Jun 2010 | 1:56 am NZ shares inch upThe New Zealand sharemarket failed to make much headway in light trading today, with very little company news to nudge stocks in either direction.The benchmark NZX-50 index closed up 1.2 points at 3043.9, a similar gain to yesterday's."We...Source: nzherald.co.nz - Business | 15 Jun 2010 | 1:54 am Media Digest 6/15/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Credit agencies may not be badly damaged in the financial reform bill. Reuters: Moody’s (NYSE: MCO) cut Greece’s rating to junk. Reuters: The euro dropped on profit taking. Reuters: Oil moved above $75.Reuters: The Microsoft (NASDAQ: MSFT) Kinect video game platform will launch on November 4. Reuters: Sprint (NYSE: S) will limit data roaming [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jun 2010 | 1:51 am BSkyB rejects $11.6 billion News Corp buyout proposalLONDON (Reuters) - BSkyB rejected a proposal by major shareholder News Corp to buy the rest of the company in a deal that would value BSkyB at 12.3 billion pounds ($19 billion) but said...Source: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 1:51 am Death toll rises in Kyrgyz ethnic violenceMuch of Osh lies in ruins after four days of ethnic fighting in southern Kyrgyzstan that has left at least 124 people dead and sent up to 100,000 ethnic Uzbeks fleeing for safety in UzbekistanSource: Financial Times - US homepage | 15 Jun 2010 | 1:48 am UK faces life in the economic slow laneSo is the outlook for the deficit really so much worse than we were led to believe, as claimed by both David Cameron and his Chancellor, George Osborne? In double quick time, the Government's new Office of Budget Responsibility has crunched the numbers and perhaps disappointingly for Mr Osborne come to the conclusion that in some respects - er - no it isn't.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 1:30 am Exploiting whales, companies eye new products (AFP)
Source: Yahoo! News: Business News | 15 Jun 2010 | 1:19 am Business Bullet: Asia, Spain, BSkyB, TescoThe latest news on: Asia, Spain, BSkyB, TescoSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 1:14 am Tesco UK sales slow as petrol costs hit shoppersSales at Tesco stores in Britain slowed as high petrol costs ate into shoppers' budgets, although Asian growth helped buoy first-quarter performance.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 1:12 am David Chaplin: Everything you know about regulation is wrongI saw the best paradigms of my generation destroyed by madness , Jane Diplock didn't title her speech last week to the International Organisation of Securities CommisSource: nzherald.co.nz - Business | 15 Jun 2010 | 1:05 am Q&A: Office for Budget ResponsibilityThe UK's new independent fiscal watchdog - what is it and what does it do?Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 1:01 am Video games based on new movies take a hitThe old model of poor-quality titles rushed into stores is broken. Now players want the highest-quality games, which are more expensive and take longer to make, resulting in fewer releases.The romance between Hollywood and the video game industry is hitting the skids.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am Spirit Airlines, striking pilots to resume talks TuesdayThe carrier cancels its Wednesday flights, including those at Los Angeles International Airport. The labor dispute centers on pilots' pay. ...Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Spirit Airlines, striking pilots to resume talks TuesdayThe carrier cancels its Wednesday flights, including those at Los Angeles International Airport. The labor dispute centers on pilots' pay.The head of the Air Line Pilots Assn. at Spirit Airlines said Monday that new negotiations had been scheduled in a bid to settle a strike that began Saturday.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am News Corp. picks up more bricks for pay wallRupert Murdoch-owned conglomerate buys the maker of electronic news delivery software and acquires a stake in a venture devising an online payment system for journalism sites. ...Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am News Corp. picks up more bricks for pay wallRupert Murdoch-owned conglomerate buys the maker of electronic news delivery software and acquires a stake in a venture devising an online payment system for journalism sites.Rupert Murdoch's quest to find a way to get people to pay for news online continued Monday as News Corp. made two investments in digital technology that could be key to the mission.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am Gambling debts send beleaguered former CalPERS board member back to Bankruptcy CourtAlfred R. Villalobos, who has been named in a state influence-peddling lawsuit, says he owes $5 million to Nevada casinos. ...Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Southland economist Jack Kyser to retireKyser, of the Los Angeles County Economic Development Corp., is known for his street-level understanding of the region and simple, clear explanations of complex ideas.Jack Kyser, the ever-quotable dean of Southern California economists, is retiring from the Los Angeles County Economic Development Corp. after decades of postulating about the many diverse sectors that make up the California economy.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am Stocks falter in last hour; trader anxiety sets inNEW YORK (AP) — Stocks faltered in the last hour of trading Monday after investors gave in to anxiety about Europe's economy.Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Lennar home buyers can rent their solar equipmentThe builder offers a financing option that allows buyers to lease their energy-generating cells, paying for the power they produce. ...Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Southland economist Jack Kyser to retireKyser, of the Los Angeles County Economic Development Corp., is known for his street-level understanding of the region and simple, clear explanations of complex ideas. ...Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Lennar home buyers can rent their solar equipmentThe builder offers a financing option that allows buyers to lease their energy-generating cells, paying for the power they produce.One of the country's largest home builders is offering a new financing option that could make it easier for people to afford solar-powered homes.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am Should banks, merchants or customers bear the cost of paying with plastic?Walter Kim appreciates all the business his downtown shoe store can get. But he'd be happier if his customers didn't use debit cards when picking up a new pair of sneakers or boots.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am Starbucks to serve up free wireless Internet access for allThe Wi-Fi service, available only at company-owned stores in the U.S., will include unrestricted entry to certain paid websites and no longer require a loyalty card from the coffee chain. ...Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Federal regulators approve investment vehicle to allow box-office futures tradingThe move comes despite the movie industry's strong opposition to the idea of letting investors bet on how films will perform in theaters. ...Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Should banks, merchants or customers bear the cost of paying with plastic?Walter Kim appreciates all the business his downtown shoe store can get. But he'd be happier if his customers didn't use debit cards when picking up a new pair of sneakers or boots.Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Federal regulators approve investment vehicle to allow box-office futures tradingThe move comes despite the movie industry's strong opposition to the idea of letting investors bet on how films will perform in theaters.Despite opposition from the major Hollywood studios, federal regulators voted 3 to 2 on Monday to approve an investment vehicle that will allow professional traders to bet on the ticket sales that a movie generates during its opening weekend.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am East West Bancorp's stock jumps after latest takeover of a failed bankShares of Pasadena's East West Bancorp surged Monday after it acquired a failed bank in Seattle from the Federal Deposit Insurance Corp.Source: RSS feed - channel BNPaperBusiness | 15 Jun 2010 | 1:00 am Gambling debts send beleaguered former CalPERS board member back to Bankruptcy CourtAlfred R. Villalobos, who has been named in a state influence-peddling lawsuit, says he owes $5 million to Nevada casinos.Alfred R. Villalobos, the former board member of California's giant public pension fund who has been named in a state influence-peddling lawsuit, has filed for bankruptcy protection, citing almost $5 million in debts to Nevada casinos.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am East West Bancorp's stock jumps after latest takeover of a failed bankShares of Pasadena's East West Bancorp surged Monday after it acquired a failed bank in Seattle from the Federal Deposit Insurance Corp.
Source: L.A. Times - Business | 15 Jun 2010 | 1:00 am Misys Excels as Top Vendor in Structured Products Technology Rankings With Misys Summit FTSource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 12:58 am EANS-News: Further Record Year for P&ISource: RSS feed - channel BNewsBusiness | 15 Jun 2010 | 12:51 am Bank of Japan details $33bn loan programmeThe Bank of Japan unveils framework for its $33bn temporary lending programme in its latest effort to spur economic growth to help end deflationSource: Financial Times - US homepage | 14 Jun 2010 | 11:54 pm Honda Lock says Chinese strikers return to work (AP)
Source: Yahoo! News: Business News | 14 Jun 2010 | 10:26 pm Credit raters could catch a break in Wall St billWASHINGTON (Reuters) - Embattled credit-rating agencies like Moody's Corp and Standard & Poor's could catch a break on Tuesday when U.S. lawmakers sit down to craft a final rewrite of financial regulations.
Source: Reuters: Business News | 14 Jun 2010 | 10:15 pm Split CFTC approves box-office futures (AP)AP - Soon playing in a theater online: trading of future box-office receipts for movies on a new exchange, following approval by federal regulators.Source: Yahoo! News: Business News | 14 Jun 2010 | 10:05 pm Mexican drugs war reaches new heightsMexico’s bloody drugs war reached new heights after 10 federal police officers were killed in a single attack and at least 28 inmates died following a clash of suspected rival drug gangs in a prisonSource: Financial Times - US homepage | 14 Jun 2010 | 9:07 pm Mary Schapiro says SEC must grow to keep up with demand (Reuters)Reuters - The Securities and Exchange Commission needs to continue to grow to meet demand for more regulation on things like ratings agencies, derivatives, and swaps, Chairman Mary Schapiro said on Monday.Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 8:52 pm Mary Schapiro says SEC must grow to keep up with demandNEW YORK (Reuters) - The Securities and Exchange Commission needs to continue to grow to meet demand for more regulation on things like ratings agencies, derivatives, and swaps, Chairman Mary Schapiro said on Monday.
Source: Reuters: Business News | 14 Jun 2010 | 8:52 pm Market oversight pact completed (AP)AP - The parent of the New York Stock Exchange and the Financial Industry Regulatory Authority say they have completed their agreement in which FINRA will take over the market surveillance and enforcement functions now conducted by NYSE Regulation.Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 8:30 pm Spending slows on cardsSpending on electronic transactions was subdued at the start of winter, with spending slowing down ahead of the Government's budget and amid concerns about world financial markets, Paymark said today.Spending grew 1.3 percent...Source: nzherald.co.nz - Business | 14 Jun 2010 | 8:27 pm Wang confident creditors will accept 2c in the dollarThe lawyer representing May Wang is confident creditors in her failed property development company will accept her proposal to repay them just 2c in the dollar to settle a multi-million dollar debt.Wang, who is fronting a bid...Source: nzherald.co.nz - Business | 14 Jun 2010 | 8:00 pm Fund fillip for AgBank IPOAgricultural Bank of China has secured several international investors to take up to 40% of the Hong Kong portion of its initial public offering amid concern over weak investor interest in the big listingSource: Financial Times - US homepage | 14 Jun 2010 | 7:04 pm Property market weak, prices fall 1.4pc in MayHouse prices fell 1.4 per cent across New Zealand in May, according to the latest REINZ Monthly Housing Price Index, released this morning.In the three months to May, house prices rose by 0.7 per cent. Compared to 12 months earlier,...Source: nzherald.co.nz - Business | 14 Jun 2010 | 6:40 pm Retired GM president McDonald dies at 87 (AP)AP - F. James McDonald, who was president and chief operating officer of General Motors Corp. throughout much of the 1980s, has died. He was 87.Source: Yahoo! News: Business News | 14 Jun 2010 | 6:35 pm US targets $20bn BP pay-outShares in the oil company tumbled more than 9% as Democratic senators called on the group to inject $20bn into a ring-fenced fund to clean up the Gulf of Mexico spillSource: Financial Times - US homepage | 14 Jun 2010 | 6:28 pm Cowdery goes it alone to cut banks’ feesClive Cowdery’s Resolution is close to securing a ground-breaking deal to slash investment bank underwriting fees on a rights issue to fund a £2.75 billion acquisition of Axa’s UK life business. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Virgin ready for shoot-out with internet gaming giantsWith titles such as Command and Conquer and Resident Evil, Virgin was regarded as one of the cooler geeks in computer games during the 1990s. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm FSA calls Sir Fred Goodwin to account over RBS unravellingSir Fred Goodwin has been summoned by the Financial Services Authority to answer questions about Royal Bank of Scotland’s management in the run up to its near-collapse in October 2008. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Row over bank card and credit card chargesBanks are making hundreds of millions of pounds a year and pushing up prices on the high street by levying “unjustifiably high” fees on credit and debit card sales, retailers will say today. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Business big shot: Steve WienerIt is a dilemma familiar to anyone still clinging to analogue radios or cathode-ray televisions: pay to go digital or wait until prices drop? Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Business briefing: old guard pin hopes on new mediaTraditional media, from television to newspapers, is pinning its hopes for a recovery in advertising on mobile devices such as the iPad and on the spread of high-speed broadband. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm China primes house tax to halt runaway pricesChina is considering a wealth tax on homeowners as it grasps at new weapons to halt a frantic rise in property prices that many fear poses the biggest threat to the Chinese economy. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Economy may never recover from banking crisis, warns OBRThe economy, more damaged by the banking crisis than previously admitted, will grow more weakly and may never fully recover, the new Office for Budget Responsibility (OBR) said yesterday. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Dana Petroleum acquires PetroCanada NetherlandsDana Petroleum paid £270 million for PetroCanada Netherlands yesterday, it’s biggest-ever acquisition. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Cowdery lays down his challenge to the banksClive Cowdery appears to have confounded the sceptics once again. Source: Latest Business News from Times Online | 14 Jun 2010 | 6:01 pm Microsoft reveals restyled XboxMicrosoft stole a march on its game console rivals, unveiling the first big redesign for its Xbox 360 in five years and saying it would ship immediatelySource: Financial Times - US homepage | 14 Jun 2010 | 5:58 pm Rumor Of The Day: RIM To Offer New Tablet PC And BlackberryRumors have begun to circulate that Research In Motion (NASDAQ: RIMM) will launch a new BlackBerry and a tablet PC to compete with Apple Inc.’s (NASDAQ: AAPL) iPad and iPhone. According to The Wall Street Journal, “RIM is testing a touch-screen smartphone with a slide-out keyboard” and “RIM is also experimenting with a tablet device [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jun 2010 | 5:43 pm Tony Hayward prepares to face his accusersWhen Tony Hayward enters the rather ordinary wood-panelled surroundings of committee room 2123 in the Rayburn Building on Capitol Hill on Thursday morning, it will be no ordinary day.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 5:32 pm Farm, forestry exports bounce backNew Zealand's farm and forestry exports are bouncing back in the wake of the global recession, agricultural economists say."Primary producers have picked up where they left off pre-recession, with most in the pastoral, horticultural...Source: nzherald.co.nz - Business | 14 Jun 2010 | 5:30 pm Sky will be another priceless piece in Murdoch's global media puzzleIn setting up Sky just over 20 years ago, Rupert Murdoch nearly drove his News Corporation empire into the ground.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 5:25 pm Murdoch move risks boardroom riftRupert Murdoch's audacious move to take control of Sky could spark a bitter boardroom row with the media company's non-executive directors and one of the City's biggest corporate governance battles for many years.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jun 2010 | 5:19 pm FSB's Draghi says progress made on OTC tradingTORONTO (Reuters) - The chairman of the Financial Stability Board, Mario Draghi, said on Monday the group's latest meeting was substantive and prepared the ground for leaders to take decisions at the Group of 20 meeting in Toronto later this month.
Source: Reuters: Business News | 14 Jun 2010 | 5:02 pm BP warned oil well was 'nightmare waiting to happen'BP acted to cut costs in the weeks before the catastrophic blowout in the Gulf of Mexico as it dealt with one problem after another on the doomed rig. The activity prompted a BP engineer to describe the Deepwater Horizon as...Source: nzherald.co.nz - Business | 14 Jun 2010 | 5:00 pm Hershey to trim 5 percent jobs in $300 million overhaulLOS ANGELES (Reuters) - Hershey Co plans to cut 500 to 600 jobs, or up to 5 percent of its workforce, as part of a restructuring aimed at upgrading and enlarging its facilities to compete globally and save some $60 million to $80 milllion in annual costs.
Source: Reuters: Business News | 14 Jun 2010 | 4:57 pm Write-Offs: 06.14.10
$$$ Summer Bummer For Wall Street [Crain's] $$$ Treasury Dept Undermining Key Derivatives Reform [HP] $$$ CAA Negotiating $200M Investment From KKR: Partners Want To Cash Out Of Agency [DH] $$$ Fortress President Mike Novogratz Talks Shop [Opalesque]
 Source: Dealbreaker | 14 Jun 2010 | 4:32 pm Greece credit rating cut to junk by Moody'sUS stocks gave up some of their early gains after Moody's Investors Service cut Greece's credit rating to junk, rekindling worries Europe's debt crisis would jeopardise the global economic recovery.Moody's downgraded Greek government...Source: nzherald.co.nz - Business | 14 Jun 2010 | 4:30 pm China prepares to invest in Greek projectsGreece is rushing to attract investment from countries with big sovereign wealth funds to help revive economic growth as it tackles an unprecedented fiscal crisisSource: Financial Times - US homepage | 14 Jun 2010 | 4:10 pm Mark Irving - Why we should appreciate advertising moreI was at a BBQ recently where there were a lot of new faces. As inevitably the conversation swung around to occupations, I took my turn and informed everyone that I worked in advertising. The immediate reactions varied from pity to...Source: nzherald.co.nz - Business | 14 Jun 2010 | 4:00 pm Summary Box: Europe concerns unravel stock gains (AP)AP - LATE FADE: The Dow Jones industrial average gave up a gain of 118 points to close down 20 after more questions arose about Europe's economy. Broader indexes ended mixed.Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 3:55 pm Kenexa Raised to `Buy,' Akamai Cut to `Hold': AudioSource: Bloomberg - All Podcasts | 14 Jun 2010 | 3:49 pm Morgan Stanley Saudi Arabia Studies ETFs: AudioSource: Bloomberg - All Podcasts | 14 Jun 2010 | 3:48 pm BP Outlines Plan To Capture As Much As 80,000 Barrels A DayFaced with unrelenting pressure to show that it can fix the Deepwater Horizon rig wreck oil leak, BP plc (NYSE: BP) has written Rear Admiral James Watson of the Coast Guard outlining aggressive plans to increase the amount of crude it collects each day. On June 11, Watson wrote BP’s COO Douglas Suttles demanding that [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jun 2010 | 3:47 pm Stocks falter in last hour; trader anxiety sets in (AP)
Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 3:46 pm Strategic Profit Taking, China, REITs, Gold: Taking StockSource: Bloomberg - All Podcasts | 14 Jun 2010 | 3:44 pm Moody's cuts Greek rating to junkNEW YORK/ATHENS (Reuters) - Moody's cut Greece's credit rating to junk status on Monday over risks to an EU/IMF bailout package, highlighting persisting doubts over the country's ability to exit a severe debt crisis.
Source: Reuters: Business News | 14 Jun 2010 | 3:40 pm Eliot Spitzer’s Refusal To Play It Cool Threatening Our Must See TV
Source: Dealbreaker | 14 Jun 2010 | 3:25 pm How the major stock indexes fared on Monday (AP)AP - Stocks faltered in the last hour of trading Monday after investors gave in to anxiety about Europe's economy.Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 3:24 pm CBS, BP, Cablevision, Sara Lee among big movers (AP)AP - Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 3:11 pm Moody's Downgrade Leaves Stocks Mixed (Market Update)The major indexes gave back gains after Greek bonds were given junk status.
Source: SmartMoney.com | 14 Jun 2010 | 3:00 pm A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Monday:Source: Yahoo! News: Stock Markets News | 14 Jun 2010 | 3:00 pm One oil stock that may be worth buyingBrazil is one of the favorites to win the World Cup. It may also be an investor favorite in the hard hit oil sector.Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 2:45 pm Lawmakers weigh how to make BP payOn Tuesday, President Obama will address the American public about BP. The president is demanding the oil company put money into an escrow account. He wants oil spill victims -- not BP shareholders -- to get paid first. Rob Schmitz reports.Source: Marketplace | 14 Jun 2010 | 1:46 pm Oil spill fuels debate on energy policyThe oil and gas spewing from the Gulf floor has forced energy and climate change legislation onto the front burner. Lawmakers are scrambling to come up with bills to strengthen government oversight of the oil industry. But what about longer-term solutions? John Dimsdale reports.Source: Marketplace | 14 Jun 2010 | 1:46 pm Rules keep biz health plans in checkHealth care reform -- most of it, anyway -- doesn't kick in until 2014. But businesses are worried now that it will hit them hard in the pocketbook. That's why the White House released new rules aimed at keeping employers from raising premiums or scaling back care in advance. Janet Babin reports.Source: Marketplace | 14 Jun 2010 | 1:46 pm The 'Red Dead Redemption' experienceJustin Calvert, senior editor at GameSpot, talks with Kai Ryssdal about the new game "Red Dead Redemption," the emotions is stirs up, and why one reviewer called it a "tour de force."Source: Marketplace | 14 Jun 2010 | 1:46 pm Hispanics leave AZ over immigrant lawArizona's new immigration law has yet to take effect, but it's already been somewhat effective in driving undocumented immigrants from the state. Jeff Tyler reports.Source: Marketplace | 14 Jun 2010 | 1:46 pm Start-up spurns Texas for Mich. townMay's unexpectedly weak employment numbers put even more pressure on states to reel in job-producing new businesses. This urgency has created a kind of "Let's Make a Deal" environment for companies negotiating on locations for new operations. Jay Field reports.Source: Marketplace | 14 Jun 2010 | 1:46 pm Devo on de-evolution, devalued musicGerald Casale, founder of the group Devo, talks with Kai Ryssdal about what brought his band back into the studio for a new album after 20 years, and the group's de-evolution notion.Source: Marketplace | 14 Jun 2010 | 1:45 pm Lawmakers to BP: Put up $20 billionBP: Kick up $20 billion to pay for the recent oil spill in the Gulf region. And make it snappy.Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 1:41 pm Jeffery Gundlach Addresses The Issues
Source: Dealbreaker | 14 Jun 2010 | 1:05 pm BP to face isolation from peers at Congress hearingsWASHINGTON (Reuters) - Top competitors are expected to distance themselves from BP Plc on Tuesday as normally clubby oil industry executives gather for a Capitol Hill grilling on the worst oil spill in U.S. history.
Source: Reuters: Business News | 14 Jun 2010 | 1:05 pm Wachovia VP Had Good Reason To Steal Money From Bank That You’ll Probably Never Understand
 Scott Welch's Den of Iniquity With the money he embezzled from Wachovia ($11.2 million give or take a few clams), Scott Welch bought himself many a sports car. This was a plan, to throw people off the trail. He didn’t buy a new set of wheels “constantly,” as neighbors recall, in an attempt to hide the fact that he was stealing money from the bank, but to distract from what he was really putting the funds toward. A love that dare not speak its name. A love of plants, and impeccably maintained yards.
How much does Scott love trees and grass? Clearly enough that he was willing to steal for them, like the conniving tramps that often drive otherwise good men to break the law in order to be with them. But apparently so much so that Scotty-boy hasn’t yet had that moment where he’s snapped out of it, as even after getting caught, he’s failed to recognize and sever ties with those who got him into this mess.
How a quiet bank executive built a lavish life on stolen money [Charlotte Observer via Daily Intel]
Source: Dealbreaker | 14 Jun 2010 | 12:24 pm McDonagh quits after HSBC returns to profit in USThe top executive of HSBC in North America is leaving the bank just after its US business returned to profitability following a money-losing foray into consumer financeSource: Financial Times - US homepage | 14 Jun 2010 | 12:21 pm House Panel Questions BP Actions Before Deepwater Horizon DisasterThe House Committee on Energy and Commerce has sent a letter to BP plc (NYSE: BP) CEO Tony Hayward questioning the actions of the company and some of its employees before the explosion on the Deepwater Horizon rig. The government raises the issue of whether BP may have cut corners at the Deepwater Horizon well [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jun 2010 | 12:21 pm Employer health care costs to jump 9% in 2011Companies that offer health plans will see their costs jump 9% in 2011, and most employees will pay higher deductibles as a result, said a report released Monday.Source: Business and financial news - CNNMoney.com | 14 Jun 2010 | 12:17 pm Starbucks Offers Free WiFi, No Strings AttachedStarbucks (NASDAQ: SBUX), following in the footsteps of McDonald’s (NYSE: MCD) and most small municipal libraries, will begin to offer free WiFi beginning July 1. No reason for the delay was given. At WIRED’s Business Conference Disruptive by Design the coffee company’s CEO Howard Schultz said “Starbucks will turn on one-click, free Wi-Fi through AT&T [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jun 2010 | 12:03 pm Moody's cuts Greece to junkSource: Business and financial news - CNNMoney.com | 14 Jun 2010 | 11:55 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 | 11:54 am Moody’s Downgrades Greece To JunkMoody’s downgraded Greek debt to junk. Moody’s Investors Service has today downgraded Greece’s government bond ratings by four notches to Ba1 from A3, reflecting its view of the country’s medium-term credit fundamentals. Today’s rating action concludes the review for possible downgrade, which Moody’s initiated on 22 April 2010. Moody’s has also downgraded Greece’s short-term issuer [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jun 2010 | 11:47 am Graham Discusses BP Oil Spill Response: Political CapitalSource: Bloomberg - All Podcasts | 14 Jun 2010 | 11:39 am Third Point Dumped Citi And Bank Of America After Seeing Obama’s Schedule
Third Point First Quarter 2010 [PDF]
Source: Dealbreaker | 14 Jun 2010 | 11:34 am Fed will take its time before exit: SF Fed paperWASHINGTON (Reuters) - The U.S. Federal Reserve's exit from its ultra-low interest rate policy will take a "significant period" of time, a San Francisco Fed economist said in a paper published on Monday.
Source: Reuters: Business News | 14 Jun 2010 | 11:06 am Levitt, Callow, Bianco, Gilman, Matus: SurveillanceSource: Bloomberg - All Podcasts | 14 Jun 2010 | 11:03 am Charles Dumas, David Larcker, Charles Stein: On the EconomySource: Bloomberg - All Podcasts | 14 Jun 2010 | 11:02 am Midlife Crisis: How to Cut the Cost (Magazine Cover)The consequences of quitting a job or losing savings for retiring boomers.
Source: SmartMoney.com | 14 Jun 2010 | 11:01 am Trico, Old Time Pottery: Bloomberg Law Bankruptcy ReviewSource: Bloomberg - All Podcasts | 14 Jun 2010 | 10:57 am What Do You Want To Know About Trish Regan?
Source: Dealbreaker | 14 Jun 2010 | 10:41 am Presented By:Source: Dealbreaker | 14 Jun 2010 | 10:41 am Shoe Stocks: Put Your Best Foot Forward (Tradecraft)Hoenig: How the shoe aisle could boost your portfolio.
Source: SmartMoney.com | 14 Jun 2010 | 10:38 am Using Apps in Web 3.0 MarketingThis is a guest post by Michael Tasner, author of Marketing in the Moment: The Practical Guide to Using Web 3.0 Marketing to Reach Your Customers First. Let’s look at how to use apps in your Web 3.0 marketing. In these instances of apps, we are looking for software tools, add-ins and fun programs that help us accomplish a few things: One of the biggest problems marketers have with Twitter is the challenge of keeping up the large amounts of tweets and direct messages. This causes a delay in response time along with the chance of missing some critical information. Visit Squidoo.com/twitterapps to view over 275 apps you can put to use! My favorite Twitter apps include: * Twitterific The first three allow you to manage your tweets, making it much faster to get back to people. Tweet Later allows you to set up an auto-response that goes out to anyone who follows you, among dozens of other uses. Mobile Apps There are thousands of apps for use across the most popular devices, including the iPhone and BlackBerry, among others. Many apps allow you to interact quicker with your Web 3.0 marketing sites. For example, there is an iPhone app that connects to your Twitter account, allowing you to tweet quicker! You can also shoot a short video or audio with your iPhone and have it tweeted instantly. Take this to another level with Ustream’s new live broadcast app. You can view, record and broadcast live. Facebook Apps I don’t consider Facebook a Web 3.0 company for one key reason: because the site is open to the masses. Remember: one of the key trends in the shift from Web 2.0 to Web 3.0 is the openness of the Web. Consumers are flocking to more exclusive and private social networks rather than simply doing all their networking on Facebook. The site is a powerhouse and generates a lot of revenue for our clients, but the whole point is to talk about the next and coming trends and the trends that have already been in play that you don’t yet know about. Keep using Facebook, but know there is going to be a Facebook revolt in the very near future! Although Facebook is not a Web 3.0 company, there are a variety of apps that help you use it as a Web 3.0 marketing tool. Here are my seven favorite apps for use on Facebook: * LinkedIn: This puts a convenient LinkedIn banner on your profile and a direct link to your LinkedIn profile. Virtual reality world apps vary across the different virtual worlds. The main thing you need to keep in mind, however, is virtual reality world technology is already very advanced, so most of the apps are already prebuilt into the technology for use. So the ability to add different apps instantly to your virtual worlds is typically nonexistent. Instead, here are two tactics we use: * We use Camtasia or Jing to record our virtual reality world presentations. Since these take a lot of prep work, we want to make sure we capture these on camera and then distribute them afterward (typically for a fee) or as a giveaway to capture leads. * We always have a direct link to our various virtual reality world profiles or links to our upcoming presentations. There are a few apps on sites like Facebook that allow you to do this in an easy and design-appealing fashion. These apps are similar in nature to the LinkedIn app. With the growing popularity of live video, apps are becoming increasingly available to support that activity. We’ve used a variety of apps to enhance our users’ experiences, but after surveying our users, they actually found most of the apps we used to be distracting to their viewing experience. After testing hundreds, we have settled on two totally different apps that we use on a regular basis. * Games: We broadcast live presentations and shows that often have quite a bit of attendance. What we have found is that many people like to log on early before the broadcast starts. Rather than just have these early birds staring at a blank screen, we have had a few game apps developed to give them something to do beforehand. Our users like the various games we offer, so we continue to develop new, fun games or leverage other game apps already out there. * Mobile viewing: The second app we use when it comes to live streaming video is the mobile-viewing and streaming apps. These applications allow our users to view our shows right from their iPhone (or other approved device). They also allow us to stream live video right from our cell phones. You have seen many cellphone-captured videos on YouTube, but I promise you, you have not seen a lot of live footage being broadcasted from a mobile phone. I use my mobile phone to broadcast sparingly as the quality isn’t there yet, but it’s improving daily. The above is an adapted excerpt from the book Marketing in the Moment: The Practical Guide to Using Web 3.0 Marketing to Reach Your Customers First by Michael Tasner. For more information, please visit michaeltasner.com, follow the author on Twitter and connect with him on Facebook.
Source: Business Pundit | 14 Jun 2010 | 10:09 am Budding White Collar Criminals: Unless You Want To Have Your Ass Thrown In Solitary Confinement, You Will Listen To Every Damn Word Jeff Skilling Has To Say
You wanna avoid this fate, which likely also includes asking Bubba’s permission to have the night off? Skillings got some tips for avoiding unsolicited tips on the inside. 1. Don’t say shit. Skilling now sees that testifying may have hurt his chances for an acquittal, but he thought it was a risk worth taking to be able to speak openly about what happened. In retrospect, it wasn’t. 2. Find a hack to write a piece telling people what a swell guy you are, who will ixnay on the whole eshay raudfray. During the four years leading up to the trial, Skilling was visible in Congress and in the courtroom, but as a discredited CEO, he wasn’t focused on his standing in the public’s eyes. Looking back, he regrets not maintaining relationships with key industry advocates in and outside the media. 3. Realize that people don’t “get” us, or our sense of humor, and will likely it against us. In May 2001, Skilling famously said, “They’re onto us” to a group of Enron executives about a negative analyst report on the company. Five years later he was defending himself by claiming that his comment was sarcasm, not an admission of guilt. Skilling nervously chuckled as he recalled when he was publicly edgy and impatient during the episode, but he quickly got serious and seemed self-reflective when he said, “Sarcasm is easily misinterpreted and can be a tremendous liability.”
Source: Dealbreaker | 14 Jun 2010 | 10:00 am Spirit Airlines Strike Enters 3rd Day
Spirit Airlines pilots are entering their third day of strikes today. All Spirit Airlines flights are canceled until Wednesday, June 16. Reuters has more: Spirit’s 440 pilots represented by the Air Line Pilots Association walked off the job on Saturday after U.S.-mediated talks failed to bridge differences with management over pay, scheduling and benefits. The strike at Spirit was the first notable job action at a U.S. passenger airline since Northwest Airlines mechanics walked off the job in 2005. Northwest was acquired by Delta Air Lines Inc in 2008. Spirit said the ALPA rejected an offer that amounted to compound average 29 percent pay rise and which would have cost the airline an additional $70 million over five years. The offer included a signing bonus and an increase in pilots’ 401K match by the company, according to a statement from Spirit. JetBlue overlaps with Spirit in eight markets from Fort Lauderdale, Fla., according to the research firm. “Revenues captured from Spirit flying could provide modest upside,” analyst Daniel McKenzie said. JetBlue received an upgrade, but American parent AMR Corp. is likely to see the biggest benefit from the Spirit strike: the legacy carrier shares 32 markets with the tiny carrier, (one analyst) said. Spirit is offering a full flight credit plus an additional $100 credit for anyone whose flights have been canceled.
Source: Business Pundit | 14 Jun 2010 | 9:34 am
Source: Dealbreaker | 14 Jun 2010 | 9:00 am Could Minerals Discovery Make Afghanistan Worse?
US officials have discovered up to $1 trillion worth of cobalt, gold, iron, lithium–a key component of many batteries–and other minerals in Afghanistan. This could turn Afghanistan into a global mining center, they say. The Telegraph has more: Afghan officials believe the mining sector will eventually become the backbone of the now tiny Afghan economy and provide hundreds of thousands of jobs. The economy is currently dominated by aid money and drug smuggling, raising fears the coalition’s investments in building the Afghan army and state are ultimately unsustainable. Early attempts to harness Afghanistan’s mineral wealth have been hampered by corruption and poor security. In 2008, the Chinese state-owned firm MCC signed the contract for one of the world’s richest unexploited copper deposits at Aynak, 30 miles south of Kabul after paying a premium of £484 million. World Bank estimates suggest the Aynak mine alone could yield 100,000 tons a year, bring the Afghan government £240 million a year in taxes and create another 20,000 jobs. Muhammad Ibrahim Adel, minister for mines at the time, was later accused of taking a £20 bribe to award the contract. He denied the accusation, but lost his job. From the New York Times: The corruption that is already rampant in the Karzai government could also be amplified by the new wealth, particularly if a handful of well-connected oligarchs, some with personal ties to the president, gain control of the resources. Just last year, Afghanistan’s minister of mines was accused by American officials of accepting a $30 million bribe to award China the rights to develop its copper mine. The minister has since been replaced. Endless fights could erupt between the central government in Kabul and provincial and tribal leaders in mineral-rich districts. Afghanistan has a national mining law, written with the help of advisers from the World Bank, but it has never faced a serious challenge. “No one has tested that law; no one knows how it will stand up in a fight between the central government and the provinces,” observed Paul A. Brinkley, deputy undersecretary of defense for business and leader of the Pentagon team that discovered the deposits. The law–or lack thereof–combined with a lack of infrastructure, Chinese competition, and systemic corruption in Afghanistan, means that Americans could get the short end of the stick from this find. A find this potentially lucrative won’t exactly ease the Afghan government’s endemic corruption. The talk of an Afghan revival also sounds inflated. Big mineral deposits don’t equate to opportunity for a country’s renewal. Bolivia, the poorest country in Latin America, has the world’s current biggest lithium reserve. (There’s been talk of a Bolivian revival because lithium is a key component of electric car batteries.) Namibia has some of the world’s biggest diamond reserves. But a lack of infrastructure and questionable ability to manage mining are issues in both of those countries. It’s questionable whether the proceeds from mining will build up national economies or benefit oligarchs and exporters. Afghanistan has the same issues, perhaps even more pronounced because of the size of the country’s reserves. Before anyone claims that these reserves will save Afghanistan, they need to come up with an infrastructure and management plan that will enable something apart from corruption.
Source: Business Pundit | 14 Jun 2010 | 8:49 am 3 Funds With South African Exposure (Screens)These funds dabble in the region hosting the World Cup.
Source: SmartMoney.com | 14 Jun 2010 | 8:02 am Taylor, Stamenkovic on European Debt Crisis: First WordSource: Bloomberg - All Podcasts | 14 Jun 2010 | 7:26 am Opening Bell: 06.14.10
US banks set to lose swaps desks (FT) Wilbur Ross: Europe Troubles Are About To Start (CNBC) Data Show Banks’ Exposure (WSJ) Buffett’s Lunch Auction Shows Enhanced Reputation (Bloomberg) Paulson Adds To SEC Officials To Firm’s Board (NYP) Goldman Envy Drove Big Boys to Blow Up Money Grid (Bloomberg) The Goldman Sachs ‘Ethics Waiver’ (FN) Larry King Plans Move Back To New York (NYP) U.S. Identifies Vast Riches of Minerals in Afghanistan (NYT) Accounts Of 500 UBS Clients Already Sent To US (Reuters)
Source: Dealbreaker | 14 Jun 2010 | 7:15 am A Meeting With BP, and an Eye on the Euro Zone (Market Update)WHAT'S HAPPENING NOW: Obama to ask BP to set up escrow account to compensate victims.
Source: SmartMoney.com | 14 Jun 2010 | 5:03 am Can’t Argue With This Chart
Source: Business Pundit | 14 Jun 2010 | 4:48 am
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