German Confidence Drops As It Sweats The EU Recovery

Germany’s economy, the fourth largest in the world, is supposed to carry it through the Eurozone disaster. That is what the Germans thought. But the confidence has become a fascade. According to the ZEW Indicator of Economic Sentiment, the figure for Germany dropped by 17.1 points in June 2010. The indicator now stands at 28.7 [...]

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Source: 24/7 Wall St. | 16 Jun 2010 | 4:17 am

Oil spill: Obama to 'make BP pay'

President Obama vows to "make BP pay" for the Gulf oil spill, and says the US must end its fossil fuel "addiction".
Source: BBC News | Business | World Edition | 16 Jun 2010 | 4:16 am

Equity rally enters seventh day despite euro wobble

Gains in Europe have been trimmed and S&P 500 futures point to a 0.4 per cent fall in New York at the open after eurozone stress gauges again began to twitch
Source: Financial Times - US homepage | 16 Jun 2010 | 4:16 am

World stocks carried by Wall Street momentum (AP)

AP - World markets climbed Wednesday after U.S. manufacturing data helped drive up Wall Street and as investors focused on growth outside of debt-troubled Europe.

Source: Yahoo! News: Business News | 16 Jun 2010 | 4:15 am

Lehman Europe creditors offered fast-track payouts

LONDON (Reuters) - Thousands of creditors owed up to $22 billion by bankrupt U.S. investment bank Lehman Brothers will be offered earlier cash payments if they are willing to take a cut in their claim valuations.

Source: Reuters: Business News | 16 Jun 2010 | 4:14 am

Stock futures signal losses; data eyed (Reuters)

Reuters - Stock index futures pointed to a lower open on Wall Street on Wednesday following the previous session's strong rally, with futures for the S&P 500 down 0.5 percent, Dow Jones futures down 0.4 percent and Nasdaq 100 futures down 0.4 percent at 0944 GMT.

Source: Yahoo! News: Stock Markets News | 16 Jun 2010 | 4:08 am

Stock futures signal losses; data eyed

NEW YORK, (Reuters) - Stock index futures pointed to a lower open on Wall Street on Wednesday following the previous session's strong rally, with futures for the S&P 500 down 0.5 percent, Dow Jones futures down 0.4 percent and Nasdaq 100 futures down 0.4 percent at 0944 GMT.

Source: Reuters: Business News | 16 Jun 2010 | 4:08 am

Will there be jail time for BP CEO?

Oiled birds. Fouled beaches. Eleven dead workers. The American people want blood.
Source: Business and financial news - CNNMoney.com | 16 Jun 2010 | 4:01 am

What can BP afford to pay?

In the days immediately after oil began leaking from a well deep below the surface of the Gulf of Mexico, few expected the spill could cripple one of one the biggest energy companies in the world.
Source: Business and financial news - CNNMoney.com | 16 Jun 2010 | 4:00 am

US stocks rise as euro sees gains

US stocks close 2% higher after a gain in the euro signalled growing confidence with Europe's ability to deal with its debt crisis.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 3:57 am

Indications: After rally, U.S. stock futures point lower

U.S. stock futures are weaker Wednesday with President Barack Obama's nationally televised address on cleaning up the Gulf of Mexico oil spill and results from bellwether FedEx in the spotlight.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 3:56 am

Spain on the defense over persistent rescue rumor

The Spanish finance ministry on Wednesday said there is no truth to fresh reports that a bailout package is being planned, just as the International Monetary Fund chief strolls to town later this week.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 3:54 am

The Question Comes Up Again: Will The US Rescue Europe

The EU denied rumors that it would give Spain an aid package of $307 billion along with the IMF and US. Spain’s borrowing costs are moving toward those that Greece had to pay before its bailout. There are reasonable concerns about the availability of capital to run Spanish banks which could cause a breakdown of [...]

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Source: 24/7 Wall St. | 16 Jun 2010 | 3:51 am

EU denies €250bn liquidity plan for Spain

Spain ups the ante in a high-stakes poker game with Germany, pushing for the release of EU stress test results for major banks.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jun 2010 | 3:51 am

Market turmoil could derail recovery: EU's Rehn

STRASBOURG, France (Reuters) - Turmoil on sovereign debt markets could still derail economic recovery in Europe, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Wednesday.

Source: Reuters: Business News | 16 Jun 2010 | 3:50 am

BP shares slip ahead of White House meeting (AP)

AP - Shares in BP PLC slipped in London trading Wednesday ahead of what promises to be a tense meeting between the oil company's chairman and President Barack Obama in Washington.

Source: Yahoo! News: Business News | 16 Jun 2010 | 3:39 am

Economic Report: U.K. unemployment claims fall more than expected

The number of British workers claiming jobless benefits falls more than expected while the unemployment rate edges higher in the three months ending in April

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 3:34 am

Osborne 'to give Bank more power'

Chancellor George Osborne is expected to say the Bank of England will be given the key role in policing the financial sector.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 3:31 am

Public sector regional pay calls

Regional pay should be introduced throughout the public sector to help recruitment and improve performance, a report says.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 3:31 am

Ernst & Young faces probe over Lehman audit

The U.K.’s accounting watchdog is investigating Ernst & Young over its role as auditor to Lehman Brothers in the months leading up to the investment bank's collapse.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 3:31 am

Help wanted: Jobless need not apply

The last thing someone who is unemployed needs to be told is that they shouldn't even apply for the limited number of job openings that are available. But some companies and recruiters are doing just that.
Source: Business and financial news - CNNMoney.com | 16 Jun 2010 | 3:30 am

Jupiter raises £220m with IPO

Jupiter Fund Management has raised £220m to pay off debt in an initial public offering that will secure a £33.5m windfall for its fund managers and directors.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jun 2010 | 3:26 am

GDP Will be Hit by Fiscal Squeeze

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 3:26 am

Europe Markets: European share gains flatten out

European share markets flattened out on Wednesday, as several major Spanish banks traded in the red and automakers declined.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 3:26 am

Another Dagger Into Housing’s Heart: Defaults Rise

There has been a great deal of data from the federal government that people who have received modified mortgages end up defaulting on those home loans. The number is estimated at 30% to 40%. Fitch says those estimates are way too low. In a new report, it puts the number at 65% to 75% in [...]

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Source: 24/7 Wall St. | 16 Jun 2010 | 3:21 am

Asia markets rally on exporters, resource shares

Most Asian markets ended Wednesday with solid gains as a rally on Wall Street and in the euro Tuesday helped exporters such as Canon and Samsung Electronics, while buoyant commodity prices lifted resource shares.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 3:20 am

French raise retirement age to 62

France's retirement age will be raised from 60 to 62 over the next eight years as part of sweeping pension reforms.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 3:19 am

Athens metro grinds to a halt as workers strike (AP)

AP - Athens metro workers have walked off the job in a 24-hour strike, grinding the capital's subway system to a halt.

Source: Yahoo! News: Business News | 16 Jun 2010 | 3:15 am

BNY Mellon Asset Servicing Appointed as Global Custodian by the Norwegian Banks' Guarantee Fund

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 3:12 am

Stocks set for shaky start

U.S. stocks were set for a shaky start Wednesday, as investors mulled the previous session's run up and awaited a slew of economic readings.
Source: Business and financial news - CNNMoney.com | 16 Jun 2010 | 3:11 am

Midwest Munis Bet on Retirees -- and Lost (Muni Bond Watch)

The housing bust has retirement home muni bonds on a shakier foundation.

Source: SmartMoney.com | 16 Jun 2010 | 3:01 am

Save at Pools, Beaches and Water Parks (Deal of the Day)

Here are 11 ways to keep cool near the water this summer for less.

Source: SmartMoney.com | 16 Jun 2010 | 3:01 am

Becton Dickinson: Poised for Stronger Growth

The medical-device maker has a steady flow of innovative products.

Source: SmartMoney.com | 16 Jun 2010 | 3:01 am

Commodities With Less Risk (Portfolio Play)

Oil, copper and other materials did well last year. Is there more to come?

Source: SmartMoney.com | 16 Jun 2010 | 3:01 am

529 Plan Strategies for Beginners (Education and Your Money)

Investing tips for parents with children under the age of 10.

Source: SmartMoney.com | 16 Jun 2010 | 3:00 am

Frost & Sullivan: User-friendly and Superior Patient Monitoring Devices to Drive the Continuous Glucose Monitoring Market in Europe

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 3:00 am

Toys'R'Us Introduces Its Christmas Savers Club, Presenting Smart Shoppers With a Rewarding Way to Save for the Holidays

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 3:00 am

London Markets: Miners help British shares to mild gains

Miners help the top British share index to mild gains on Wednesday, with the sector advancing as the debate over a proposed super tax in Australia appeared to take a new turn.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 2:58 am

Volvo AB posts 44% spike in global truck sales

Volvo AB on Wednesday reports a 44% surge in truck sales in a much-needed spike signaling that economies around the world are getting back on track after the global financial crisis devastated demand.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 2:56 am

BP quiet on escrow demand before Obama meeting

In its first reaction to President Barack Obama's nationally televised address, BP on Wednesday committed to paying for cleaning up the Gulf of Mexico oil spill but made no mention of the independent escrow account Obama demanded.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 2:52 am

Many Americans Think Oil Spill Damage Will Be Permanent

The two most pessimistic views of the BP plc (NYSE: BP) disaster are that the flow of oil from the well cannot be stopped by human intervention and that the environmental damage from the spill will never be repaired. The first concern has some basis in history. The Mexican Ixtoc I spill in June 1979 [...]

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Source: 24/7 Wall St. | 16 Jun 2010 | 2:50 am

After blasting BP, Obama now faces its leaders (AP)

AP - Fresh from admonishing BP before the world, President Barack Obama now gets his moment with the oil company's leaders. It will be on his turf and, he vowed to an angry nation, on his terms.

Source: Yahoo! News: Business News | 16 Jun 2010 | 2:48 am

Oil hovers near $77 as stocks extend rally (AP)

AP - Oil prices hovered near $77 a barrel Wednesday in Asia as a rally fueled by a stock market surge and a stronger euro pauses.

Source: Yahoo! News: Business News | 16 Jun 2010 | 2:23 am

Fastest growing counties in the U.S.

The fastest growing large county in the United States is not in a trendy Sun Belt state. It's in Illinois, a member in good standing of the Rust Belt.
Source: Business and financial news - CNNMoney.com | 16 Jun 2010 | 2:17 am

Wall Street cheer extends to Asia, Europe stocks (AP)

AP - World markets climbed in holiday-thinned trade Wednesday after industrial and technology stocks drove Wall Street sharply higher and investors put aside worries about Europe's debt mountain.

Source: Yahoo! News: Stock Markets News | 16 Jun 2010 | 2:13 am

EU denies planning Spain credit line with IMF, U.S.

BRUSSELS/MADRID (Reuters) - The European Commission on Wednesday denied a report that the European Union, the IMF and the U.S. Treasury were drawing up a liquidity plan for Spain including a credit line of up to 250 billion euros ($335 billion).

Source: Reuters: Business News | 16 Jun 2010 | 2:11 am

Stopping the oil - an interactive guide

A guide to how BP has tried to stem the oil leak in the Gulf of Mexico
Source: BBC News | Business | World Edition | 16 Jun 2010 | 2:06 am

Dow Jones Adds Veteran Investment Banker and Hedge Fund Manager to Investment Banking Editorial Team

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 2:00 am

The Conference Board Spain Business Cycle Indicators(SM)

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 2:00 am

Media Digest (6/16/2010) Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Credit rating agencies will not be heavily regulated under the new financial reform bill. Reuters:   AT&T (NYSE: T) had privacy problems with its iPhone 4 order system. Reuters:   The EU, IMF, and US have considered a $250 billion rescue package for Spain Reuters:   Bank of America Corporation (NYSE: BAC) will limit the length of [...]

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Source: 24/7 Wall St. | 16 Jun 2010 | 1:58 am

Cuts Will Undermine Growth Says Europe's Largest Union Federation as European Council Meets

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 1:58 am

Get More Out of Your Umbrella Company With Pulse Umbrella

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 1:58 am

Amid deficit worries, Dems trim unemployment bill (AP)

AP - Virtually certain of losing a showdown vote in the Senate, Democrats frustrated in their quest to extend jobless benefits and help for doctors facing Medicare payment cuts are scaling back a catchall tax and spending bill.
Source: Yahoo! News: Business News | 16 Jun 2010 | 1:57 am

Elbit Imaging Announces Investment in the US Real Estate Market - Becoming the Largest Investor in the $1.5 Billion Macquarie DDR Trust - With Approximately 48% Stake

Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 1:55 am

Sainsbury's sales slow, outlook uncertain

J Sainsbury, the UK's third largest supermarket group, became the latest casualty of sliding food inflation as first-quarter sales growth stuttered.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jun 2010 | 1:48 am

Obama's Oval Office address on the Gulf oil spill (AP)

AP - Text of President Barack Obama's Oval Office address Tuesday on the Gulf oil spill, as transcribed by CQ Transcriptions:
Source: Yahoo! News: Business News | 16 Jun 2010 | 1:47 am

Sainsbury's sees slowing growth

Sainsbury's sees the smallest rise in quarterly like-for-like sales for five years, hit by low food price rises and higher fuel costs.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 1:45 am

'Food boom' for emerging nations

Brazil, India, China and Russia will enjoy an agricultural boom over the next decade as output stagnates in Western Europe.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 1:42 am

Lending price controls rejected

The Office of Fair Trading backs away from recommending price controls on expensive forms of short term borrowing.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 1:37 am

Swiss MPs back UBS-US tax deal

Switzerland's parliament has voted to approve a deal to provide the US with information on tax evasion.
Source: BBC News | Business | World Edition | 16 Jun 2010 | 1:37 am

FTSE 100 climb at open (AFP)

AFP - Leading stocks rose at the start of trading on Wednesday after a rally on Wall Street and gains in Asia, as dealers shook off concerns over the European debt crisis

Source: Yahoo! News: Stock Markets News | 16 Jun 2010 | 1:26 am

EU, IMF, US mull 250 billion credit line for Spain: report

MADRID (Reuters) - The European Union, the IMF and the U.S. Treasury are drawing up a liquidity plan for Spain which includes a credit line of up to 250 billion euros ($335 billion),...
Source: RSS feed - channel BNewsBusiness | 16 Jun 2010 | 1:20 am

Miners lift Aussie stocks

The Australian share market closed firmly in the black with small-to-medium cap resources stocks leading the charge as investor concern about the proposed tax regime on miners took a back seat for the day.The benchmark S&P/ASX200...
Source: nzherald.co.nz - Business | 16 Jun 2010 | 1:11 am

NZ dollar eases back after early rise

The New Zealand dollar drifted lower in its domestic session after rising on Tuesday night as equity markets strengthened and investors became more comfortable with risk.By 5pm the NZ dollar was at US69.49c, down from US69.90c...
Source: nzherald.co.nz - Business | 16 Jun 2010 | 1:07 am

NZ sharemarket closes higher

The New Zealand sharemarket rallied today after a strong performance by Wall Street, and one of the biggest gainers on a big news day for New Zealand soccer was pay television operator SkyTV.The benchmark NZX-50 index closed up...
Source: nzherald.co.nz - Business | 16 Jun 2010 | 1:03 am

Regulators consider broadening testing for E. coli (AP)

AP - The food industry and government regulators have focused for years on finding the most virulent strain of E. coli bacteria, which has killed hundreds of people and sickened thousands every year.

Source: Yahoo! News: Business News | 16 Jun 2010 | 1:01 am

IPhone 4 sales hit a snag on AT&T website

AT&T's online ordering system for the iPhone 4 fails to launch, adding to a history of technical glitches.

AT&T has dropped the apple. Again.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Volkswagen rolls out a bigger, cheaper Jetta

The German automaker hopes the 2011 model, with a starting price of $16,000, will propel it back to prominence in the U.S. The company aims to increase U.S. sales of its cars fourfold.

Volkswagen, stuck in neutral, has unveiled a bigger and less expensive Jetta, a vehicle that is central to its efforts to regain prominence in the U.S. market.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Southern California median home price surges 22.5%

The May increase to $305,000, compared with the same period a year earlier, reflects a shift in sales in the region. Purchases climb 7.2% as buyers rush to take advantage of tax incentives.

The Southland's housing market surged in May with the median home price soaring 22.5% from its year-earlier level as tax incentives for buyers and rock-bottom interest rates ignited sales, a real estate research firm reported Tuesday.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Tesla Motors plans $167-million stock offering

The Palo Alto maker of the $109,000 Roadster electric sports car says in a regulatory filing that it plans to sell as many as 12.8 million shares for between $14 and $16 each.

Electric-car maker Tesla Motors Inc. plans to raise about $167 million by selling stock to the public later this year.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Disney theme parks' dress code relaxed

Female employees don't have to wear pantyhose with skirts anymore, unless the leg wear is part of a costume.

Chalk one up for women who work at Disney theme parks: They don't have to wear pantyhose anymore.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

TRW co-founder Simon Ramo: The epitome of a 'Renaissance man'

The accomplished researcher and the R in TRW refined the concept of systems engineering, which he defines as engineering complicated arrangements so the failure of one element won't destroy the whole.

One doesn't have to know that Simon Ramo recently celebrated his 97th birthday to know that he might well retire the handle of "Renaissance man."

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Congress retroactively raises FDIC deposit insurance limits, aiding IndyMac account holders

Lawmakers completing an overhaul of financial regulations also agree to permanently increase coverage for individual accounts to $250,000.

Lawmakers completing a sweeping overhaul of financial regulations have given 8,700 former account holders at failed IndyMac Bank a surprise gift, retroactively increasing government-backed deposit insurance limits that would allow them to recover some of their lost money.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

BP's dividend debate has investors watching

Many once-reliable companies slashed payouts in 2009.

The threat of a reduction in the dividend paid by energy giant BP is bringing up bad memories for investors who have suffered similar cuts by other once-reliable companies in the last decade.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Health insurers' rate hike proposals get state scrutiny

In a move that could lead to lower rate increases for individual policyholders, regulators have ordered independent reviews of hikes sought by Aetna, Anthem, Blue Shield and Health Net. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

Volkswagen rolls out a bigger, cheaper Jetta

The German automaker hopes the 2011 model, with a starting price of $16,000, will propel it back to prominence in the U.S. The company aims to increase U.S. sales of its cars fourfold. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

Disney theme parks' dress code relaxed

Female employees don't have to wear pantyhose with skirts anymore, unless the leg wear is part of a costume. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

BP's dividend debate has investors watching

Many once-reliable companies slashed payouts in 2009. The threat of a reduction in the dividend paid by energy...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

Congress retroactively raises FDIC deposit insurance limits, aiding IndyMac account holders

Lawmakers completing an overhaul of financial regulations also agree to permanently increase coverage for individual accounts to $250,000. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

New Atlanta studio complex opens as Georgia filming booms

EUE/Screen Gems is converting former fairgrounds into a 30-acre studio complex to serve film crews taking advantage of Georgia's generous tax concessions. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

At E3 opening, Sony and Nintendo show off dueling 3-D video game technologies

Both companies are investing heavily in 3-D for the small screen, aiming to drive consumer spending. Nintendo hopes to outsmart Sony with its 3DS console that requires no glasses. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

IPhone 4 sales hit a snag on AT&T website

AT&T;'s online ordering system for the iPhone 4 fails to launch, adding to a history of technical glitches. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

TRW co-founder Simon Ramo: The epitome of a 'Renaissance man'

The accomplished researcher and the R in TRW refined the concept of systems engineering, which he defines as engineering complicated arrangements so the failure of one element won't destroy the whole...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

Paramount to end delay in providing DVDs to Redbox

Movies on DVD will be available to rent the same day they go on sale. Three other studios had recently signed deals with Redbox to block rentals of DVDs until 28 days after their release. ...
Source: RSS feed - channel BNPaperBusiness | 16 Jun 2010 | 1:00 am

CAA partner confirms talks with outside investors

The talent agency is looking for capital to expand its business as it adjusts to Hollywood's changing economics.

A partner at Creative Artists Agency publicly acknowledged Tuesday that the entertainment and sports powerhouse has been in discussions with private equity funds about an investment in the firm.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Health insurers' rate hike proposals get state scrutiny

In a move that could lead to lower rate increases for individual policyholders, regulators have ordered independent reviews of hikes sought by Aetna, Anthem, Blue Shield and Health Net.

California health insurance regulators have ordered independent reviews of rate hikes being sought by four of the state's largest insurers, a move that could lead to smaller increases for consumers.

Source: L.A. Times - Business | 16 Jun 2010 | 1:00 am

Business Bullet: Miners, Russia,Sainsbury's, BP

The latest news on: Miners, Russia,Sainsbury's, BP
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jun 2010 | 12:55 am

Lisa Twaronite's This Week in Japan: Bank of Japan's targeted drip-drops

The Bank of Japan still isn’t dropping money out of helicopters, but it’s hoping that its latest little lending program will work as a guided monetary missile, writes Lisa Twaronite.

Source: MarketWatch.com - Top Stories | 16 Jun 2010 | 12:20 am

Banks behind rural property stagnation - REINZ

The rural property sector remains stagnant because prices and sales are being dictated by banks rather than returns at the farm gate, the real estate institute says.This year should have been a good one for dairy farmers with...
Source: nzherald.co.nz - Business | 15 Jun 2010 | 11:11 pm

AT&T hit with order and privacy complaints over iPhone

SAN FRANCISCO/NEW YORK (Reuters) - Customers trying to reserve the latest version of the iPhone were thwarted by technical glitches that hindered sales on Tuesday, the first day of pre-orders before the device hits stores on June 24.

Source: Reuters: Business News | 15 Jun 2010 | 11:04 pm

U.S. home buyers still in driver's seat: Trulia (Reuters)

Reuters - Prices were cut on nearly one quarter of U.S. homes on the market in May, the same as April, with a growing supply of unsold homes keeping buyers in the driver's seat, real estate web site Trulia.com said on Wednesday.
Source: Yahoo! News: Business News | 15 Jun 2010 | 10:30 pm

Twitter fights Fail Whale

A week-long run of networking equipment problems and other technical issues continued plaguing Twitter Tuesday morning, as users seeking messages from their friends instead encountered the site's iconic "Fail Whale."
Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 10:30 pm

Low-rated U.S. firms may struggle to refinance debt: S&P

NEW YORK (Reuters) - Low-rated U.S. companies may struggle to refinance more than $1.7 trillion in debt that comes due between 2011 and 2014 as growing economic concerns make banks and investors more reticent to lend, Standard & Poor's said on Wednesday.

Source: Reuters: Business News | 15 Jun 2010 | 10:25 pm

Obama calls for clean energy and oil smackdown

Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 10:07 pm

3 Firms With Generous Dividend Payouts (Screens)

Hough: These companies return the bulk of profit -- a promising sign.

Source: SmartMoney.com | 15 Jun 2010 | 10:00 pm

GPG to spin-off Australia assets, delay Coats sale

Guinness Peat Group, the diversified investor chaired by Ron Brierley, plans to spin off its Australian assets into a separate listed company but will hold off on selling its Coats business to avoid 'destroying value.'Shares of...
Source: nzherald.co.nz - Business | 15 Jun 2010 | 8:30 pm

Past crises hint at whether BP can pass its test

SAN FRANCISCO - BP is being vilified from the Louisiana marshlands to the White House as its leaking oil well pollutes the Gulf Coast, raising doubts about whether the company can survive the backlash."There are no magic bullets...
Source: nzherald.co.nz - Business | 15 Jun 2010 | 8:00 pm

Bernard Hickey: Why house prices will fall 15 per cent

My view?New Zealand's housing market is running out of puff, judging by the latest figures from REINZ.Volumes are down 17 per cent from a year ago and the demand that surged through in early 2009 is now ebbing away as interest...
Source: nzherald.co.nz - Business | 15 Jun 2010 | 7:30 pm

Barack Obama vows to make BP pay for oil spill 'recklessness'

President pledges to force BP to set aside money for not only the clean-up of the Gulf of Mexico oil spill but also the restoration of the area's economy.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 7:04 pm

The Tuesday Podcast: Haiti's Rice Market Is A Mess. Farmers' Kids Go Hungry.

Source: NPR Blogs: Planet Money | 15 Jun 2010 | 6:54 pm

Obama vows BP will pay for spill

Barack Obama issues an urgent call for the US to lessen its reliance on oil, urging Congress to act to reduce the chances of a catastrophe like the Gulf of Mexico oil spill ever happening again
Source: Financial Times - US homepage | 15 Jun 2010 | 6:41 pm

Regulate mobile rates - Commerce Commission tells minister

The Commerce Commission has formally recommended that mobile termination rates be regulated to promote better competition in the market and to bring New Zealand in line with international standards.In February, the Commission...
Source: nzherald.co.nz - Business | 15 Jun 2010 | 6:30 pm

Rating agencies dodge bullet in Wall St reform bill

WASHINGTON (Reuters) - Credit-rating agencies like Moody's and Standard & Poor's dodged a bullet on Tuesday as lawmakers decided to strip out a provision in the Wall Street reform bill that would have upended their business model.

Source: Reuters: Business News | 15 Jun 2010 | 6:23 pm

Obama's address: A Gulf battle plan

Washington bureau chief John Dimsdale talks with Kai Ryssdal about what President Obama said in his speech on the BP oil spill, how he responded to criticism he's gotten over enacting a deepwater drilling moratorium, and the impact all of this will have on developing a cleaner energy strategy going forward.
Source: Marketplace | 15 Jun 2010 | 5:57 pm

Consumer confidence rebounds on Govt tax reform

Consumer confidence rebounded in the June quarter, helped by tax changes unveiled in last month's budget. The Westpac McDermott Miller Consumer Index rose 4.6 points to 119.3 points in the June quarter - the second highest reading...
Source: nzherald.co.nz - Business | 15 Jun 2010 | 5:30 pm

Iwi: Crafar cows desecrated tapu site

The Crafar family rural dynasty is under fire again, this time from a Taranaki iwi which says cows have been allowed to trample and desecrate a waahi tapu and pa site.Ngati Ruanui iwi said the pre-colonial Te Ruaki Pa site at...
Source: nzherald.co.nz - Business | 15 Jun 2010 | 5:27 pm

Amid missteps, retailers eye more assortment cuts (Reuters)

Reuters - Retailers strive for the perfect mix of products that will boost sales and keep costs down -- but the experience of some, including Wal-Mart Stores Inc , in pruning merchandise shows that getting the recipe just right, can be tricky business.
Source: Yahoo! News: Business News | 15 Jun 2010 | 5:17 pm

Amid missteps, retailers eye more assortment cuts

LAS VEGAS (Reuters) - Retailers strive for the perfect mix of products that will boost sales and keep costs down -- but the experience of some, including Wal-Mart Stores Inc , in pruning merchandise shows that getting the recipe just right, can be tricky business.

Source: Reuters: Business News | 15 Jun 2010 | 5:17 pm

IPhone 4 stampede tramples AT&T

Customers eager to buy Apple's new iPhone 4 experienced massive and widespread difficulties when attempting to pre-order the smart phone on Tuesday, the day it went on sale.
Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 5:16 pm

Walmart extends its banking interests

Walmart has taken an equity stake in a rapidly expanding US financial company, in a move that may also give the largest US retailer an indirect link to a small commercial bank
Source: Financial Times - US homepage | 15 Jun 2010 | 5:01 pm

Subprime consumers hit at Goldman

Goldman Sachs is facing a wave of complaints from consumers over the business practices of its mortgage servicing unit, a subsidiary that collects payments on hundreds of thousands of loans worth tens of billions of dollars.
Source: Financial Times - US homepage | 15 Jun 2010 | 5:01 pm

CBOE shares jump 12 percent in market debut

CHICAGO/NEW YORK (Reuters) - Shares of CBOE Holdings Inc jumped 12 percent in their market debut as investors flocked to the last major North American financial exchange to go public and a potential takeover target.

Source: Reuters: Business News | 15 Jun 2010 | 5:00 pm

Government Ups Daily Deepwater Spill Rate To 60,000 Barrels

Every time the government releases new data on the rate at which the Deepwater Horizon rig is leaking, the figure doubles. Today, the Deepwater Horizon Incident Joint Information Center reported that the rate at which oil is being released may be as high as 60,000 barrels a day. The original estimate from the government was [...]

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Source: 24/7 Wall St. | 15 Jun 2010 | 4:51 pm

Kyrgyzstan presses Russia on troops

Kyrgyzstan signals a possible review of an airbase agreement with the US in an apparent effort to convince Moscow to provide peacekeeping forces to quell unrest in the country
Source: Financial Times - US homepage | 15 Jun 2010 | 4:44 pm

Equitable victims fear £4bn Treasury 'ambush'

Campaign fighting for victims of the Equitable Life scandal have rounded on the Coalition Government, warning that a "Treasury-inspired ambush" could cost policyholders almost £4bn.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 4:44 pm

The Oil Industry Says It Can Regulate Itself

“Badges? We ain’t got no badges. We don’t need no badges! I don’t have to show you any stinkin’ badges!”–The Treasure of the Sierra Madre, 1948 A former Shell Oil Co. President John Hofmeister recently suggested that BP plc (NYSE:BP) should resist giving the US government any money to create an escrow account to cover [...]

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Source: 24/7 Wall St. | 15 Jun 2010 | 4:36 pm

BSkyB takeover: Sky's tuned-in non-exec directors' cunning solution to a knotty problem

Over the past 20 years or more BSkyB has grown to become an extremely successful and valuable asset.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 4:23 pm

Stocks see broad gains; Industrials, tech climb (AP)

AP - Industrial and technology stocks pulled the market sharply higher Tuesday after Boeing Co. said it was boosting production and an industry group forecast that demand for computers would increase.

Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 4:14 pm

Write-Offs: 06.15.10

$$$ UBS May Escape ‘Game of Chicken’ as Lawmakers Vote on Treaty [Bloomberg]

$$$ Bank of America Merrill Lynch has ordered its traders not to enter into oil trades with BP that extend beyond June 2011 [Reuters]

$$$ Study of Dominant-Looking Men Yields Surprising Result [LS]

$$$ Have the banks already won the debate over derivatives? [CNBC]

$$$ “Is Greenwich ready for bestiality?” a well-dressed woman said during the intermission of Hans Werner Henze’s “El Cimarrón” (“The Runaway Slave”), which opened on Thursday evening at the Theater at St. Catherine of Siena in the Riverside section of Greenwich. [NYT]

Merrill Lynch - Bank of America - CNBC - Bloomberg - Business
Source: Dealbreaker | 15 Jun 2010 | 4:08 pm

Industrial, tech lead stocks higher; Dow up 213 (AP)

AP - BOEING, PCs LEAD THE MARKET: News that Boeing Co. is raising 737 production gave industrial stocks a kick higher. And an improved 2010 forecast for PC shipments pulled tech stocks up.
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 4:02 pm

(UPDATE) RBC Capital Markets Comments Taken Out Of Context Regarding President Obama

Update: We’ve spoken with several other conference participants who tell us the slide wasn’t meant to demonstrate how RBC sees President Obama but rather reflect sellers‘ current thoughts on the fear of the White House raising long term capital gains taxes.
___________________________________________________
Said thoughts were apparently shared at the Energy Capital Conference yesterday, by RBC Capital Markets director Craig Lande, via an interesting slide included the firm’s presentation. It seems the Canadians (based in Houston) do not think much of our commander in chief. Participants may have gotten this impression due to the image of Obama depicted as the devil (I don’t know though, maybe it was something else). According to an attendee, “There were a couple hundred people in the room– everyone was shocked. It was really awkward.”

Barack Obama - Houston - President of the United States - Commander-in-chief - President
Source: Dealbreaker | 15 Jun 2010 | 4:00 pm

BP Investors Watch and Wait for an Exit (Common Sense)

Stewart: The outlook for the "special situation" stock ebbs and flows.

Source: SmartMoney.com | 15 Jun 2010 | 3:58 pm

Treasury prices slump as stock market rallies (AP)

AP - A sharp rally in stocks and more positive signals about the economy sent Treasury prices lower and interest rates higher.
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 3:51 pm

Summary Box: Stock rally saps demand for Treasurys (AP)

AP - STOCK RALLY: Demand for Treasurys waned throughout the day as the stock market rallied. Major stock indicators all gained more than 2 percent. The Dow Jones industrials rose 213 points.
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 3:49 pm

Texas Rangers, Visteon: Bloomberg Law Bankruptcy Review

Source: Bloomberg - All Podcasts | 15 Jun 2010 | 3:49 pm

Stocks Jump by More Than 2% (Market Update)

Stocks surged as euro-zone jitters ebbed and the technology sector benefited from an improved...

Source: SmartMoney.com | 15 Jun 2010 | 3:39 pm

Cameron apologises for Bloody Sunday

David Cameron apologised for the killing by British troops of 14 demonstrators in Northern Ireland in 1972 on what has become known as Bloody Sunday, saying the killings were “wrong and unjustified”.
Source: Financial Times - US homepage | 15 Jun 2010 | 3:33 pm

BP and Politics, Yahoo, Xerox, Trends, Volatility: Taking Stock

Source: Bloomberg - All Podcasts | 15 Jun 2010 | 3:14 pm

UK digital switchover will cost £55m less than expected

Digital television switchover in the UK is to cost £55m less than previously predicted, according to the body responsible for its implementation.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 3:12 pm

BSkyB takeover: News Corp eye's one-stop shop status in British media

News Corps's ambition to own the whole of BSkyB is part of a bigger plan, writes Neil Midgley.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 3:01 pm

Consumer Price Index drop indicates inflation may have already peaked

Inflation may now have peaked, economists declared yesterday as the Consumer Price Index dropped from its previous 17-month high.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jun 2010 | 2:56 pm

A look at global economic developments (AP)

AP - A look at economic developments and activity in major stock markets around the world Tuesday:
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 2:54 pm

How the major stock indexes fared on Tuesday (AP)

AP - Industrial and technology stocks pulled the market sharply higher Tuesday after Boeing Co. said it was boosting production and an industry group forecast that demand for computers would increase. The Dow Jones industrial average rose 213 points to its highest close since May 19. The advance was broad, but came on light trading volume.
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 2:48 pm

BP shares rise along with other oil stocks (AP)

AP - Shares of BP PLC rose Tuesday as the company endured sharp criticism from lawmakers in Washington and said it was speeding up payment of large commercial losses due to the oil spill in the Gulf of Mexico.
Source: Yahoo! News: Stock Markets News | 15 Jun 2010 | 2:46 pm

Lawmakers blast oil firms' drilling plans

WASHINGTON (Reuters) - U.S. lawmakers blasted major oil companies on Tuesday for "virtually worthless" and "cookie cutter" plans to handle a deepwater oil disaster, with one top executive conceding the industry was ill prepared to handle big offshore spills.

Source: Reuters: Business News | 15 Jun 2010 | 2:39 pm

Just Putting It Out There: Charlie Gasparino And Snooki Will Cross Paths This Summer

Yesterday, the Post had an item about Snooki and Gregg Valentino, a man with 28-inch biceps and author of the book Death, Drugs and Muscle, becoming fast friends. What the story failed to note was two very important facts: 1) Valentino is said to getting his own reality show this summer and 2) he is the noted gal-pal of Charlie Gasparino. Don’t do anything with that info for now, just keep it in mind, and wait.

Reality television - Jersey Shore - Author - Snooki - Arts
Source: Dealbreaker | 15 Jun 2010 | 2:38 pm

The extend-and-pretend way to reform

Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 2:19 pm

Fiscal austerity: It ain't pretty

The weather may be getting hot, but there's a lot of freezing going on in Europe.
Source: Business and financial news - CNNMoney.com | 15 Jun 2010 | 1:40 pm

Jerome Kerviel Invented A Friend Named Matt, Built A Vivid Character Sketch Of The Guy

I knew there was a reason I loved Jerome Kerviel and today that reason became crystal clear. As previously mentioned, the former SocGen trader admitted faking a buncha trades during his time with the firm. Now, there’s this:

Former Societe Generale trader Jerome Kerviel admitted on Tuesday to creating a fake client called “Matt” to cover massive unauthorised bets with a broker. 33-year-old Kerviel told the court on the sixth day of his trial how he had lied to broker Moussa Bakir about the driven, rugby-loving “Matt”, who worked for a hedge fund, in response to Bakir’s questions about his trading strategy.

I must know more. Did Kerviel tell his bosses he and Matt go way back, having met “one drunken night” at University? Did he have pictures of Matt on his desk and snarl at colleagues’ insinuation the photos were the ones that come with the frames? Did he ever pick up the phone and pretend to be talking to Matt when no one was on the other line, or he’d dialed whatever is french for 411 and told the operator to play along? I need that last one to be true more than I’ve ever needed anything in my life.

Ex-trader Kerviel admits to fake client [Reuters via BI]

Société Générale - Business - Jérôme Kerviel - Investing - Hedge fund
Source: Dealbreaker | 15 Jun 2010 | 1:39 pm

Finish Line Raised to `Buy,' Buckeye GP Cut to `Hold': Audio

Source: Bloomberg - All Podcasts | 15 Jun 2010 | 1:28 pm

Presented By:

Source: Dealbreaker | 15 Jun 2010 | 12:56 pm

SEC Embarks On “Not As Dumb As We Look” Campaign

The SEC has taken a lotta flack over the last year or so. Given. The report that a good number of officials spend hundreds of hours looking at tranny porn during business hours was embarrassing but it was really just noise. The bigger criticism to be (justifiably) made is that the Commission as a whole is dumb as rocks. Harry Markopolos has said so about a million times, Bernie Madoff has attributed the success of his Ponzi scheme to the insanely impressive level of incompetence demonstrated by the group, they went after the most honest investor of all time, David Einhorn, and if that doesn’t do it for you, take a moment to consider that 9 employees out of 10 don’t know that penises stay outside the pencil sharpener. Last fall they tried to step up their game by sending employees for training at ClownFace College but it didn’t quite take. And, damn it, they just want to be taken serious! But how?

[Snaps fingers] I’ve got it! Hire some dude with fancy sounding degree and align agency with guy who simply must be a genius ’cause no one at the office even knows what a particle physicist does. That’s gotta look good.

The next time the Securities and Exchange Commission stops a financial fraud, it might be partly because of work that physicist Gregg Berman did studying the tiny particles spun off by exploding stars and distant galaxies.

Today, the Princeton-trained nuclear physicist is investigating for the SEC what was behind the massive flash crash that sent the stock market into a tailspin last month. A specialist at culling conclusions from masses of chaotic information, Berman is in part trying to ascertain whether wrongdoing played a role.

Although lawyers fill most of the SEC’s ranks, the agency has been hiring experts with specialized quantitative skills and those who have worked on Wall Street who are hip to its tricks.

In fairness, Berman will raise the collective IQ over there by about 100 points, so this is something.

SEC is hiring more experts to assess complex financial systems [WaPo]

Harry Markopolos - Wall Street - Bernard Madoff - U.S. Securities and Exchange Commission - Ponzi scheme
Source: Dealbreaker | 15 Jun 2010 | 12:56 pm

Given Say on Pay, Shareholders Say No (On the Street)

Shareholders will soon have more say on CEO pay, and CEOs may not like it.

Source: SmartMoney.com | 15 Jun 2010 | 12:48 pm

Debt crisis tests Spaniards' faith in euro

In Spain, the countries largest unions are protesting over plans to reform the country's labor laws. But the government has been forced to take these measures by fellow members of the eurozone. Stephen Beard reports.
Source: Marketplace | 15 Jun 2010 | 12:35 pm

Starbucks brews free Wi-Fi, site access

This summer, Starbucks will stop charging for Internet access and offer free Wi-Fi. Jeff Horwich reports.
Source: Marketplace | 15 Jun 2010 | 12:35 pm

How the working poor became big biz

Journalist Gary Rivlin talks with Kai Ryssdal about his new book "Broke USA," and the business of making money off the poor.
Source: Marketplace | 15 Jun 2010 | 12:35 pm

How important was home buyer credit?

The National Association of Home Builders' monthly index of builder confidence is down to levels last seen in February. Home builders have lost confidence that many people want to buy a new house now that the government's temporary tax credit has expired. Brett Neely reports.
Source: Marketplace | 15 Jun 2010 | 12:35 pm

Ron Paul: Get Off Obama’s Ass On BP

Ron Paul - United States - Government - President - Texas
Source: Dealbreaker | 15 Jun 2010 | 12:30 pm

European officials scoff at junk rating

Government leaders around the world have been pressuring credit-rating agencies to be more honest with investors. Except, apparently, when it comes to the risk that certain European countries could go bankrupt. Bob Moon explains.
Source: Marketplace | 15 Jun 2010 | 12:30 pm

Oil companies' disaster plans criticized

On Capitol Hill, chief executives of the world's largest oil companies defended their commitment to safety standards. And took the opportunity to blame BP for ignoring the same standards. But were the mistakes that caused the Gulf spill really a break from the norm or just business as usual? Rob Schmitz reports.
Source: Marketplace | 15 Jun 2010 | 12:29 pm

Ideas on curbing bankers’ appetite for risk

What is the best way to pay top bankers? That is a question that has haunted western politicians since the credit crisis started. After all, in the past two years the pay of most non-bankers – ie voters – has been flat or falling. But many bankers – or financial “fat cats” as they are dubbed – have continued to earn vast sums
Source: Financial Times - US homepage | 15 Jun 2010 | 12:18 pm

China attempts to soothe worker unrest

Wen: ‘We must care for, love and respect migrant workers, especially the new generation of young migrant workers’
Source: Financial Times - US homepage | 15 Jun 2010 | 12:11 pm

Spanish banks break ECB loan record

Rise in borrowing to €85.6bn from €74.6bn provides further evidence of the acute tensions in the Spanish banking system
Source: Financial Times - US homepage | 15 Jun 2010 | 11:58 am

Citi Takes The Gloves Off On Debrahlee Lorenzana Case

Since the Debrahlee “Too Hot For Citi” Lorenzana story has come out– which has included soft-core porn spreads, morning show appearances, and allegations that DL was canned because her presence distracted her male colleagues, who supposedly couldn’t work in her presence because their “penises were standing up”– Citi has had to keep its thoughts on the matter relatively brief. They still have to go to arbitration with this lady and Jamie Dimon and his firm are the only ones allowed to tell a woman to “zip it, Toots” without taking any heat. So while we’ve heard lots of “this case is without merit,” and so on an so forth, we’ve yet to have Citi tell us how they really feel, re: the girl who dreamed of being “Tits on a Stick.” Today that ends, with a spokeswoman for the bank offering that in her opinion, this chick is not that hot.

Citibank rep Natalie Riper [noted], “Just because she’s saying she was too hot doesn’t mean it’s so.”

Tomorrow, Vikram Pandit’s “brutal truth” on the bazonkas in question. Not to be missed.

Citigroup - Jamie Dimon - Business - Clothing - Shopping
Source: Dealbreaker | 15 Jun 2010 | 11:06 am

Home Sales Are Getting Weaker

Source: NPR Blogs: Planet Money | 15 Jun 2010 | 11:04 am

Builder Confidence Flags, Housing Double Dip

The double dip in housing has caught up to another important player. The National Association of Home Builders/Wells Fargo Housing Market Index dropped sharply in June. Recently, mortgage application dropped another week-the fifth in a row. The federal tax credit for new and existing home buyers has expired and has not been extended. High unemployment [...]

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Source: 24/7 Wall St. | 15 Jun 2010 | 10:54 am

Energy Sector Helps Lift U.S. Stocks (Market Update)

Each of the major index stood up more than 1% at midday.

Source: SmartMoney.com | 15 Jun 2010 | 10:53 am

Petraeus collapses during Senate questioning

Gen David Petraeus, the head of US central command and the architect of the surge in Iraq, briefly collapsed at a Senate hearing while seeking to counter mounting scepticism about US strategy in Afghanistan
Source: Financial Times - US homepage | 15 Jun 2010 | 10:43 am

Will The Pilot’s Strike Push Spirit Into Bankruptcy?

Spirit Airlines is currently closed down due to a strike by its pilots. The carrier announced today that the shutdown will continue at least through Thursday. The work stoppage could go on much longer. The pilot’s union issued an ominous statement: “We regret that Spirit management’s failure to take seriously its pilots’ contributions to the [...]

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Source: 24/7 Wall St. | 15 Jun 2010 | 10:02 am

Gig Of A Lifetime, Yours For The Taking

Job Type: Full Time
Years of Experience: 2-5 Years
Degree Required: Bachelors
Industry: Finance & Investment
Job Function: Investment Banking & Advisory
Job Description

Description:
Meredith Whitney Advisory Group LLC (MWAG) seeks an experienced Executive Assistant, who will report directly to the Chief Executive Officer. The Executive Assistant is able to handle a wide array or tasks and responsibilities, with little or no supervision. The candidate must have attention to detail, be extremely well-organized, prioritize effectively, and thrive in a small company environment, where team members are able to perform multiple functions.

The candidate will manage multiple administrative functions in a fast-paced environment, while staying flexible, resourceful, effective, and efficient. Excellent communication and written skills as well as critical thinking are equally important.

Expectations:
• Manage the CEO’s calendar, coordinating the scheduling of all travel, meetings, and conference calls
• Communicate with other executives and their assistants, establishing supportive relationships
• Answer the phone lines and direct incoming calls to the appropriate person effectively and efficiently
• Able to manage time effectively, multi-task, and make deadlines
• Develop spreadsheets, presentations, and written documents as requested
• Proactively seek solutions to office management and administrative problems
• Create meeting notes, agendas, and biographies on meeting attendees to prepare management
• Email messages for management as directed

Qualifications:
• 3+ years experience as an assistant at the executive level
• Ability to manage executive’s calendar, including the creation of meeting biographies/notes, and travel coordination
• Strong knowledge of MS Word, Excel, PowerPoint, and Outlook
• High energy, self-starter, with the appropriate sense of urgency while maintaining high quality work
• Excellent verbal and communication skills
• Bachelor’s degree
• Prior experience in sales, marketing, or in executive assistant roles

This role is for full-time hire. We are based in New York, NY. If interested, please send a copy of your resume and cover letter

Business - Investment Banks - Chief executive officer - New York City - Communication
Source: Dealbreaker | 15 Jun 2010 | 9:52 am

Bove, O'Leary, Mallaby, Brusca, Roach, Joyce: Surveillance

Source: Bloomberg - All Podcasts | 15 Jun 2010 | 9:43 am

Ace Greenberg, William Cohan: Bloomberg On the Economy

Source: Bloomberg - All Podcasts | 15 Jun 2010 | 9:40 am

Larry Kudlow Caught In The Middle Of Awkward Game Of Mammary Musical Chairs

As you may or may not have heard, Melissa Francis is due back on The Call this coming Monday, following a short maternity leave. Apparently this has the potential to create a somewhat awkward situation off set, as Amanda Drury has been filling in for Francis since the beginning of May, and the viewers likey. Unfortunately there are only three slots available, currently occupied by Drury, Larry Kudlow, and Trish Regan. The plan is to bump Mandy, though to where no one knows.
On the one hand, this seems fair– the spot originally belonged to Francis, of whom we are personally big fans and who has electric chemistry with The Kud. On the other, it’s not very democratic. Maybe CNBC should go with the viewers choice, and this Friday have people text in their ideal trio. Or maybe we should make this a ladies only thing and give Kudlow a platform to speak at 3AM, when you know he’s up. But there’s are just my suggestions! If anyone has other ways to settle this, please speak up.

Melissa Francis - CNBC - Lawrence Kudlow - Call - Larry Kudlow
Source: Dealbreaker | 15 Jun 2010 | 9:17 am

5 Ways Vultures Are Making Money in the Recession

Vultures have always had a place in the economy. From time immemorial, regular citizens have scraped by on scavenged goods. Being a vulture today may involve more connections and paperwork, but the basic premise is the same: Profit off something that’s floundering, dead, or simply unclaimed.

We’ve compiled a short list of the ways vultures are making a killing today, despite (or perhaps because of) the recession.

Vulture capitalists

When a company is close to dying, some people just won’t let it rest. These company flippers, or vulture capitalists, buy distressed companies, clean up their operations, and resell them for a handy profit. Some of these vultures lay off employees as a part of restructuring the company, earning them a questionable Main Street reputation.

Vulture funds

Image: mape s/Flickr

These hedge funds prefer to be known as distressed-debt funds, but the activity is the same. A developing country is about to write off its debt, or its bonds are losing a lot of value. A vulture fund buys the debt at pennies on the dollar (or whatever currency that country is running). Bondholders, afraid of losing their entire investment, sell their bonds to the vultures and make a cleaner break than they would have otherwise. Some vultures then either sign a legal agreement with the country to repay the full balance of its debt and interest, offer the vulture an ownership stake in some of the country’s industries, or some other such goody. Some vultures resort to suing the country for the value of its debt and interest. Needless to say, you need to be extraordinarily well-connected to pull off this kind of carrion-eating activity.

In most cases, the vultures get what they came for, and the country doesn’t default.

Vulture collectors

If anything has been plentiful during the financial crisis, it’s bad debt. For banks, debt turns into a liability after a certain period of no payment. In order to get that bad debt off their books, banks have been dumping it at a huge discount.

There’s so much bad debt that in-the-know Main Streeters have been getting in on the action. Organizations like the National Loan Exchange offer deals daily; people also frequent their local (smaller) banks for the stuff. They take out a loan, buy the debt, then figure out a way to collect on it. If they can collect on enough of the debt, then even after they pay off their loan and give the collection agency a chunk, there’s profit to be had.

Of course, the bigger your portfolio, the better. There are no guarantees in this game. But I’ve seen enough people do it—a la the controversial Bill Bartmann–that I can say something’s working.

Vulture real estate investors

If you’re Joe Schmoe looking for a rehab, the market might not be as easy as you think. This is because professional real estate investors are working hard to buy the deals before you do, smack on a new layer of paint, and sell it to you “turnkey” at a higher price. If a real estate investor can get her hands on a good foreclosure and flip it quickly, she can make a handy profit.

The key here is speed. Oftentimes, before Joe Homebuyer even sees a house, real estate vultures are at the auction block or calling homeowners who seem distressed to snap it up first.

Domain vultures

Image: coniferconifer/Flickr

Let’s say you finally registered that trademark for Wellbeing Widgets. Your widgets show promise in the market. You’re ready to hit the big time with a website.

Except that some other weasel already owns wellbeingwidgets.com. And widgets.com. And wellbeing-widgets.com, and so on. Said weasel isn’t doing anything with the domain, but is willing to sell it to you at a gouged price.

This happens all the time. When the economy improves, however, and people start registering more business names, it might especially hurt.

Your trademark, your name, variations on your name, and even misspellings of your website can be squatted upon. It’s illegal, but rarely enforced. A similar kind of under-the-bridge operation is the patent troll, who buys up a lot of patents with no intent of actually making them, then charges the companies who actually manufacture them a fortune for the patent.

Source: Business Pundit | 15 Jun 2010 | 8:00 am

State Street's Ross Says SEC Will Test ETF Trading: Audio

Source: Bloomberg - All Podcasts | 15 Jun 2010 | 7:57 am

RBC's Cole on Euro, Raymond on Stocks: First Word

Source: Bloomberg - All Podcasts | 15 Jun 2010 | 7:53 am

A Quick Guide to Small Business Surety Bonds

This is a guest post by SuretyBonds.com’s Matt Bruns.

Surety bonds are an important tool for US small business owners. But they often get overlooked, unless they’re required by law.

That’s unfortunate. Entrepreneurs stand to reap significant benefits from the protection and credibility that stem from proper bonding.

Surety Bonds: A Quick Primer

Surety bonds are risk-mitigation and management tools more like a form of credit than insurance. They’re required to secure state licensing for scores of industries. They’ve also become a key component of the construction field, helping to ensure projects are completed, subcontractors are paid and contracts and regulations are followed. Surety bonds are basically three-way agreements among a principal (the company or person doing the work), the obligee (the entity receiving the work or issuing the license) and the surety company.

The bond ensures that work or services are provided as spelled out by regulation, contract or law. They also provide consumers and other stakeholders with a way to recoup funds in the event they’re harmed by the bonded business. For example, surety companies can step in and make sure construction projects are completed or developers are compensated.

But they’re equally important for small business owners and entrepreneurs. In some cases, business owners can’t obtain a state operating license until they have proper bonding. Some of those industries include:

-Notaries public

-Mortgage brokers

-Health clubs

-Auto dealers

-Durable Medical Equipment providers (DMEPOS)

-Telemarketers

-Title agencies

Bonds can also be crucial for entrepreneurs who aren’t mandated by law to purchase them. Fidelity bonds and Employee Theft Bonds protect business owners from harm if their employees break the law or harm consumers.

Entrepreneurs can also use surety bonds as a competitive advantage — they help boost consumer confidence and showcase a business’ desire to protect consumers and its ability to qualify for a bond. Surety bonds can help set a business apart.

How to Purchase Surety Bonds

A surety bond can be obtained from insurance companies and independent surety companies. Applicants have to provide financial information and credit documents. Some bonds are easy to obtain and require little in the way of underwriting. Others take more time and require a much more detailed analysis.

Bond costs will vary depending on a host of factors, including the bond type and the applicant. In general, premiums tend to range from 1 to 3 percent of the bond’s value. There are cases where an applicant’s credit or financial standing bumps them into a high-risk category, which will lead to higher rates and premiums. Another factor affecting cost is the state the bond is purchased for. For example, the cost of a Missouri surety bond for auto dealers may be different from the cost of an equivalent bond in another state.

For everyday entrepreneurs, securing a surety bond can take just a matter of minutes at a minimum cost. In turn, that bond can generate significant peace of mind among prospective consumers.

This is a guest post from Matt Bruns of SuretyBonds.com, a nationwide surety bonds company, as part of their surety bond education program.

Source: Business Pundit | 15 Jun 2010 | 7:53 am

Starbucks Finally Offers Free Wi-Fi

After years of charging customers, Starbucks will no longer charge for Wi-Fi, starting July 1. Wired has more:

Starting July 1, Starbucks will let anyone connect to its WiFi network for free. This fall, the company will add a content network called Starbucks Digital Network, in partnership with Yahoo and other sites, which will include local content you won’t be able to read anywhere else. Both offerings will be free.

Starbucks hopes to make money from these initiatives indirectly, by “enhanc[ing] the experience” and making the content “so compelling that it drives incremental traffic,” said Schulz as he announced the new initiative at Wired’s Disruptive by Design conference on Monday.

McDonalds has free Wi-Fi too, of course, as does just about every other coffee place in the country other than Starbucks…However, none of Starbucks’ direct competitors have their own localized content networks on the level of what Schulz described. In some communities, Starbucks functions as a sort of community center — a “third place” between home and the office, in Schulz’s words — and this infusion of local news and information, along with a free way to get it, could enhance that effect.

In addition to unique content, Starbucks will also offer customers free access to the Wall Street Journal, according to Wired.

Starbucks can’t make much of a selling point out of its unique content network. There’s already so much content out there that Starbucks’ network can only add marginal value, at best.

Even after retrenching, it looks like Starbucks is grasping at straws. The chain would be better off innovating, the way it did with Via instant coffee.

Source: Business Pundit | 15 Jun 2010 | 7:39 am

Treasury: Money Still Finding Its Way Into The US

The US probably became a significant draw for “safe have” seeking money in April. That was probably more true in May. The results of foreign investment is American assets was released by The Treasury Department today. Net foreign purchases of long-term securities were $83.0 billion. Net foreign purchases of long-term U.S. securities were $110.9 billion. [...]

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Source: 24/7 Wall St. | 15 Jun 2010 | 7:09 am

How Much Will This Movie Make?

Source: NPR Blogs: Planet Money | 15 Jun 2010 | 6:57 am

If You Can Find No Better Reason to Forgive…

Source: Business Pundit | 15 Jun 2010 | 4:50 am

News Corp reaches for the Sky with takeover offer

News Corporation, the media group headed by Rupert Murdoch, confirmed this morning that it had made an offer to take full control of BSkyB, the satellite broadcaster in which it has a 39 per cent stake.


Source: Latest Business News from Times Online | 15 Jun 2010 | 2:49 am