Indications: U.S. stock futures down as bank reform deal met

U.S. stock futures declined Friday as Congressional negotiators reached agreement on sweeping reforms intended to reduce the chances of another banking sector implosion.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 4:19 am

US banks and funds to face $19bn levy

Banks and hedge funds will be hit with a $19bn fee to pay costs associated with financial reform, says Barney Frank, chairman of the US House financial services committee
Source: Financial Times - US homepage | 25 Jun 2010 | 4:17 am

Some workers could retire earlier than state pension age

Employers could seek to legally justify why workers should retire sooner than the state pension age, according to an employers' group.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Jun 2010 | 4:12 am

Lawmakers approve Wall Street reform bill

WASHINGTON (Reuters) - A Senate-House of Representatives conference panel approved a landmark bill on Friday to overhaul financial regulations, working through the night on the thorniest provisions.

Source: Reuters: Business News | 25 Jun 2010 | 4:10 am

Easy scam of homebuyer tax credit

Some homebuyers are angling to claim the $8,000 tax credit even though they missed the deadline.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 4:09 am

Wall Street reform: Final bill is ready

After a grueling 20-hour session, a group of lawmakers early Friday finished melding the House and Senate Wall Street reform bills, bringing Congress closer to passing the most sweeping changes to the financial system since the New Deal.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 4:04 am

Stock index futures lower

(Reuters) - Stock index futures pointed to a weaker open on Wall Street on Friday, with futures for the S&P 500 down 0.3 percent, Dow Jones futures down 0.25 percent and Nasdaq 100 futures falling 0.4 percent by 0939 GMT.

Source: Reuters: Business News | 25 Jun 2010 | 4:04 am

Stock index futures lower (Reuters)

Reuters - Stock index futures pointed to a weaker open on Wall Street on Friday, with futures for the S&P 500 down 0.3 percent, Dow Jones futures down 0.25 percent and Nasdaq 100 futures falling 0.4 percent by 0939 GMT.

Source: Yahoo! News: Stock Markets News | 25 Jun 2010 | 4:04 am

BP Clean Up Costs Rocket Above $2.35 Billion

BP plc’s (NYSE: BP) clean-up costs for the Gulf  leak have hit more than $2.35 billion. That only includes expenses to contain the spill and modest payment to area residents and business. The UK-based firm still faces payments of $20 billion into an escrow account to cover future costs and litigation which would face the [...]

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Source: 24/7 Wall St. | 25 Jun 2010 | 4:03 am

House-Senate panel OKs sweeping big bank reform

House and Senate lawmakers agree Friday on the most significant increase in the regulation of U.S. banks since the Great Depression.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 4:01 am

Auto Review: 2010 Mini Cooper: Still fun, still easy on the gas

When you put together a high fun-to-drive factor, good gas mileage, great handling and a classic look you can see how people love the Mini Cooper.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 4:01 am

Porn sites closer to .xxx Web address (AP)

AP - Porn sites have stepped closer to a new ".xxx" Internet address after the global Internet oversight agency said it made mistakes in rejecting it three years ago.
Source: Yahoo! News: Business News | 25 Jun 2010 | 3:59 am

Romanian court: Austerity cuts unconstitutional (AP)

AP - A top Romanian court ruled Friday that sweeping austerity measures proposed by the government are unconstitutional, a move that will delay a crucial multibillion loan from the International Monetary Fund.
Source: Yahoo! News: Business News | 25 Jun 2010 | 3:59 am

Global outlook hurts Asian shares, Nikkei off 1.9%

Major Asian markets retreat heading into the weekend on Friday as concerns over the global economic outlook persist in the wake of overnight losses on Wall Street and lingering worries over European sovereign debt.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 3:59 am

House, Senate lawmakers finalize deal on bank bill (AP)

AP - House and Senate negotiators have completed a sweeping overhaul of banking regulations and aim to send it to President Barack Obama by July 4.

Source: Yahoo! News: Business News | 25 Jun 2010 | 3:58 am

Govt frees up petrol prices, hikes other fuels (Reuters)

Reuters - The government on Friday freed up state-subsidised petrol prices and hiked other fuels as high global oil prices and pressure to trim the budget deficit outweighed concerns about the political impact of the measures.

Source: Yahoo! News: Business News | 25 Jun 2010 | 3:58 am

BP oil spill: shares slump further as hurricane fears rise

Shares slump to a 14-year low as hurricane worries add to a cocktail of fears for investors.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Jun 2010 | 3:52 am

Pension age could rise from 2016

The government announces plans to raise the state pension age to 66, possibly as early as 2016.
Source: BBC News | Business | World Edition | 25 Jun 2010 | 3:51 am

Another Damaging 787 Set Back For Boeing

Boeing (NYSE: BA) says it has found more problems with its 787 Dreamliner. The company said it would inspect the plane for “workmanship” issues. There is apparently a problem with the aircraft’s horizontal stabilizers. Boeing said that the repairs would take over a week for each plane, but indicated that deliveries would begin by year-end, [...]

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Source: 24/7 Wall St. | 25 Jun 2010 | 3:51 am

Bank warns of eurozone risk to UK

The European debt crisis represents a "key risk" to the UK's banking sector the Bank of England has warned.
Source: BBC News | Business | World Edition | 25 Jun 2010 | 3:46 am

G-20: We should learn from Canada

Toronto's downtown core has already been locked down at a cost of nearly $1 billion for this weekend's G8 and G20 summits, tightly scripted events that give face time to power brokers such as President Obama and Russian president Dmitry Medvedev. But while the streets resemble a northern version of Gitmo, the mood away from the chain link fences and security barriers has perhaps never been more ebullient.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 3:35 am

77% of iPhone 4 sales were upgrades

Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 3:31 am

Economic worry and G20 caution reign for world stocks (Reuters)

Reuters - Worries about the fragility of global economic recovery hit financial markets again on Friday, knocking world stocks down for the fourth session in a row ahead of a summit of Group of 20 nations.

Source: Yahoo! News: Stock Markets News | 25 Jun 2010 | 3:24 am

World markets mixed on concerns about US recovery (AP)

AP - World markets were mixed Friday as investors were tempted to buy back into stocks after a week of steady losses, but remained worried by downbeat economic indicators from the U.S.

Source: Yahoo! News: Stock Markets News | 25 Jun 2010 | 3:24 am

World markets mixed on concerns about US recovery (AP)

AP - World markets were mixed Friday as investors were tempted to buy back into stocks after a week of steady losses, but remained worried by downbeat economic indicators from the U.S.

Source: Yahoo! News: Business News | 25 Jun 2010 | 3:24 am

BP shares down sharply in London (AP)

AP - BP shares fell sharply in London Friday following the company's announcement that the cost of responding to the Gulf of Mexico oil leak has risen to $2.35 billion.

Source: Yahoo! News: Business News | 25 Jun 2010 | 3:22 am

Hulu About To Charge Customers

Hulu, the premium internet content service, is about to charge customers for access to certain TV shows and movies, perhaps the most important experiment ever to test whether consumers are willing to pay for full-length professionally produced video sent to their PCs. Data from comScore showed that in May, Hulu delivered 1.1 billion streams, second [...]

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Source: 24/7 Wall St. | 25 Jun 2010 | 3:17 am

Europe Markets: Europe pressured as autos, BP offset bank gains

European stocks edged higher on Friday, with banks gaining ahead of this weekend’s G-20 summit as reports indicated rules at a global and U.S. level won’t be as tough as initially drafted.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 3:15 am

BP: Cost of Gulf oil spill tops $2.3 billion

Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 3:10 am

Europe told to 'focus on growth'

As world leaders arrive in Toronto for G8 and G20 meetings, Europe is told it must focus on growth as well as cutting spending.
Source: BBC News | Business | World Edition | 25 Jun 2010 | 3:02 am

Bank of England calls for gradual capital change

The Bank of England says measures to strengthen banks' capital levels need to be phased in over a number of years.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 3:01 am

Make your nest egg last a lifetime

Question: I often see articles recommending a 4% withdrawal rate to avoid running out of money in retirement. But it seems to me that if you earn a 4% return, which isn't excessive, you could withdraw 4% of your savings forever without ever touching principal, let along run through your savings. Am I missing something? -- John N., Washington, D.C.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 2:59 am

Stocks set for shaky start

U.S. stock futures slipped Friday morning amid anxiety about the economic outlook and as investors awaited the outcome of Wall Street reform talks.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 2:58 am

London Markets: Banks advance, BP slides in London

Financials gained in British share trading on Friday as reports suggested that banking-sector regulatory reform plans will be less draconian than first thought.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 2:57 am

Consumer Confidence Slips Back To Recession Period Levels

The effects of high unemployment, a troubled housing market, and households which remain leveraged at a relatively high level have pushed consumer confidence back to rates not seen since mid-2009. According to the latest Gallup Consumer Confidence Index, there was a significant drop in confidence in the late May early June period compared with late [...]

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Source: 24/7 Wall St. | 25 Jun 2010 | 2:56 am

Currencies: Dollar gains on euro in Asian trade ahead of G-8

The dollar gaines on its European counterpart in Asian trading Friday, ahead of meetings of the Group of Eight and Group of Twenty leading industrialized nations in Toronto.

Source: MarketWatch.com - Top Stories | 25 Jun 2010 | 2:51 am

UPDATE 2-Market Chatter -- Corporate finance press digest

BANGALORE, June 25 (Reuters) - The following corporate finance-related stories were reported by media on Friday:
Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 2:49 am

Small creditors 'need protection'

An independent body to deal with complaints against insolvency practitioners should be set up, the Office of Fair Trading says
Source: BBC News | Business | World Edition | 25 Jun 2010 | 2:38 am

Short Sellers Up Bets Against BP By 290%, Flee Other Weak Shares

The short interest in BP plc (NYSE: BP) rose 290% to 25.7 million shares in the period ending June 15 as traders increased their bets that the UK-based oil company will face more problems that will undermine its share price. However, short sellers moved out of the shares in several other weak companies. The short [...]

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Source: 24/7 Wall St. | 25 Jun 2010 | 2:36 am

Labour rights

Foreign carmakers in St Petersburg face new union
Source: BBC News | Business | World Edition | 25 Jun 2010 | 2:35 am

Find the Best E-Reader

With Amazon and Barnes & Noble dropping their prices, we go comparison shopping.

Source: SmartMoney.com | 25 Jun 2010 | 2:27 am

G20: leaders assemble as divisions emerge on whether to cut or spend

This weekend's G-20 summit is likely to lay bare tensions on how to prevent a second recession.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Jun 2010 | 2:26 am

US Congress agrees Volcker Rule

The US Congress has agreed rough limits on the risky activities that banks can get involved in, the so-called Volcker rule.
Source: BBC News | Business | World Edition | 25 Jun 2010 | 2:24 am

UPDATE 1-MTS, Comstar boards approve merger, shares up

* MTS offers to buy 9 pct of Comstar at 220 roubles/share
Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 2:23 am

No oil, no future for Gulf

Oil looks terrible right now. And while nobody wants to need what's gushing into the gulf, poisoning marine life and coating the coasts, our way of life depends on it. In fact, the U.S. needs the oil from the Gulf Coast and the jobs that deepwater drilling generates so badly, we can't afford to pause long enough to overhaul the regulators.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 2:21 am

Battling back after business drops

When Joe Phillips was 22, he asked a cute girl named Heather to a Psychedelic Furs concert but stood her up at the last minute -- he had second thoughts about dating a girl who was only 16 and his boss's daughter. Joe and Heather laugh about it now: They got married eight years later, and Joe climbed the ranks in his father-in-law's architectural firm while Heather focused on their four children.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 2:19 am

Global Sources intends to increase its upcoming cash tender offer to purchase up to approximately $100 million of its outstanding common shares

Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 2:00 am

Nearly 1 million lose jobless benefits

Nearly a million people have lost their unemployment benefits because the Senate failed for the third time Thursday to extend the deadline to file for this safety net.
Source: Business and financial news - CNNMoney.com | 25 Jun 2010 | 1:53 am

Leaders differ on how to nurture a global recovery (AP)

AP - World leaders, facing serious differences over the best way to nurture a fragile global recovery, are agreeing to disagree in a variety of key areas.

Source: Yahoo! News: Business News | 25 Jun 2010 | 1:51 am

Media Digest 6/25/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Lawmakers are close to crafting a final financial reform bill. Reuters:   BP plc (NYSE: BP) shares fell again on clean-up cost concerns. Reuters:   Large numbers of people stood in line to get Apple Inc.’s (NASDAQ: AAPL) new iPhone. Reuters:   Goldman Sachs Group (NYSE: GS) had the top global M&A spot [...]

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Source: 24/7 Wall St. | 25 Jun 2010 | 1:45 am

Secret girls schools emerge in Afghanistan

Abdul is one of a number of anxious fathers who have set up underground schools to allow his daughters to continue studying in defiance of an escalating campaign of insurgent attacks designed to thwart a major Nato operation to secure the city
Source: Financial Times - US homepage | 25 Jun 2010 | 1:24 am

Proposed Merger of MTS and Comstar Voluntary Tender Offer by MTS for up to 9% of Comstar Shares

Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 1:15 am

Business Bullet: Miners, G20, UK savers, BP

The latest news on: Miners, G20, UK savers, BP
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 25 Jun 2010 | 1:05 am

'Last Airbender' carries Shyamalan into new territory

M. Night Shyamalan hopes to turn 'Last Airbender,' based on a cartoon series, into a franchise. He's even taking part in the promotional campaign. The project is a risk for him and Paramount.

The ultimate auteur is going for the Happy Meal.

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

Farmworkers get aid from U.S., Stephen Colbert

What do you get when you mix farmworkers, Stephen Colbert, a stunt website and millions of dollars? A spotlight on those who toil in the sun.

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

Aetna scraps 19% rate increase for individual policyholders

The health insurer pulled back after multiple math errors in its paperwork were found by its own staff and by an independent consultant working for California.

A second insurance company in California has killed plans for double-digit rate hikes for individual policyholders because of errors in its filing that would have inflated premiums, state regulators said Thursday.

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

Congress on verge of completing financial overhaul

Lawmakers agree to limit risky investments by banks and to exempt most auto dealers from a new consumer protection agency.

Scrambling to meet an end-of-the-week deadline, House and Senate negotiators worked into early Friday in a marathon session to complete the most far-reaching rewrite of financial rules since the Depression.

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

Banks can relieve mortgage crisis by giving homeowners a break

With foreclosure rates at unprecedented levels, it may be time for banks to stop applying one-size-fits-all policies and work with homeowners to keep them in their homes.

At what point do banks finally throw in the towel and accept that they've got to reduce people's mortgages if they want to ease the foreclosure crisis?

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

'Toy Story 3' expected to be No. 1 again at box office

The 'Toy Story' sequel is benefiting from excellent word of mouth. Ensemble comedy 'Grown Ups' is expected to launch strongly. The Tom Cruise action comedy 'Knight and Day' is struggling.

"Toy Story 3" will rule the box-office playground again this weekend as the ensemble comedy "Grown Ups" is set for a healthy start and the Tom Cruise action comedy "Knight and Day" is already sputtering.

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

New Apple iPhone draws throngs to stores around the world

Some analysts are projecting that Apple will have sold up to 1 million iPhones by the end of the gadget's first day in stores.

Apple loyalists by the thousands waited in lines around the world for the company's new iPhone on Thursday, in what has become a boisterous tradition for the company's product launches.

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

Aetna scraps 19% rate increase for individual policyholders

The health insurer pulled back after multiple math errors in its paperwork were found by its own staff and by an independent consultant working for California. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

New Apple iPhone draws throngs to stores around the world

Some analysts are projecting that Apple will have sold up to 1 million iPhones by the end of the gadget's first day in stores. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

California renewable power bill passes first test

The bill, SB 722 by state Sen. Joe Simitian, was approved by the Assembly Utilities and Commerce Committee on a 9-2 vote and is expected to win final passage in late summer. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

Weinstein Co. raids film library to settle debts

The production company will give its creditors 200 movies — and the future revenue they would have provided. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

Twitter settles FTC claims over data security lapses

The agreement bars the online message service from misleading consumers about its security and privacy practices and requires it to establish a comprehensive program to protect information.

Twitter has agreed to settle allegations by federal regulators that it put the privacy of its users at risk by failing to protect them from data security lapses last year that let hackers access their accounts.

Source: L.A. Times - Business | 25 Jun 2010 | 1:00 am

Anthem Blue Cross website glitch exposes clients' data

About 230,000 clients have been warned that their accounts may have been accessed during an upgrade of the site. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

Congress on verge of completing financial overhaul

Lawmakers agree to limit risky investments by banks and to exempt most auto dealers from a new consumer protection agency. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

Farmworkers get aid from U.S., Stephen Colbert

What do you get when you mix farmworkers, Stephen Colbert, a stunt website and millions of dollars? A spotlight on those who toil in the sun.
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

Mortgage rates sink to lowest levels on record

The move down was expected: Treasury yields fell this week to their lowest in more than a year. Mortgage rates...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

Banks can relieve mortgage crisis by giving homeowners a break

With foreclosure rates at unprecedented levels, it may be time for banks to stop applying one-size-fits-all policies and work with homeowners to keep them in their homes. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

Twitter settles FTC claims over data security lapses

The agreement bars the online message service from misleading consumers about its security and privacy practices and requires it to establish a comprehensive program to protect information. ...
Source: RSS feed - channel BNPaperBusiness | 25 Jun 2010 | 1:00 am

BRIEF-Sevan says Sevan Driller is operational

OSLO, June 25 (Reuters) - Sevan Marine said:
Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 12:59 am

BRIEF-BG drills dry well in North Sea -directorate

OSLO, June 25 (Reuters) - The Norwegian Petroleum Directorate said:
Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 12:53 am

UPDATE 1-FDA delays decision on AstraZeneca's motavizumab

* FDA resets decision date for drug to Aug. 27 from June 24
Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 12:29 am

Genco Shipping & Trading Limited Announces Agreement to Acquire 16 Supramax Vessels

Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 12:26 am

India to try to extradite ex-Union Carbide head

India's Cabinet has approved pushing for the former head of Union Carbide to be extradited over the toxic gas leak in 1984 that killed an estimated 15,000 people. Public ire over the...
Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 12:19 am

BP says cost of oil spill hits $2.35 billion

LONDON (Reuters) - Oil company BP said it had so far spent $2.35 billion on the response effort to its Gulf of Mexico oil spill.

Source: Reuters: Business News | 25 Jun 2010 | 12:14 am

BP says cost of oil spill hits $2.35 billion

LONDON (Reuters) - Oil company BP said it had so far spent $2.35 billion on the response effort to its Gulf of Mexico oil spill.
Source: RSS feed - channel BNewsBusiness | 25 Jun 2010 | 12:14 am

Currency: NZ dollar drifts lower

The New Zealand dollar drifted lower today after tumbling on Thursday night when world stock markets and high-yielding currencies dropped as investors retreated from riskier assets.The NZ dollar was at US70.35c at 5pm from US70.85c...
Source: nzherald.co.nz - Business | 25 Jun 2010 | 12:05 am

A working-class boy with big dreams

Hubbard - financier, entrepreneur, philanthropist, workaholic, one-man economic development agency for South Canterbury - is a child of the slump. He was born in 1928 into an impoverished North Dunedin home, where his mother brought...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 10:38 pm

More private equity deals in Q2, but hardly "mega"

PHILADELPHIA/HONG KONG (Reuters) - Buyout funds are making a comeback, scouring deals from Australia to America after nearly two years of virtual shutdown, but private equity-backed M&A volumes remain far short of the boom times.

Source: Reuters: Business News | 24 Jun 2010 | 10:26 pm

AIG CEO and Chairman at odds over failed AIA deal: report (Reuters)

Reuters - American International Group's failed sale of its Asian life insurance unit AIA has led to increased tensions between Chief Executive Robert Benmosche and Chairman Harvey Golub, the Financial Times said, citing people close to the situation.
Source: Yahoo! News: Business News | 24 Jun 2010 | 10:22 pm

AIG CEO and Chairman at odds over failed AIA deal: report

(Reuters) - American International Group's failed sale of its Asian life insurance unit AIA has led to increased tensions between Chief Executive Robert Benmosche and Chairman Harvey Golub, the Financial Times said, citing people close to the situation.

Source: Reuters: Business News | 24 Jun 2010 | 10:22 pm

Jon Friedman's Media Web: Why I fault CNN -- not Eliot Spitzer

CNN’s decision to hire disgraced ex-governor Eliot Spitzer is totally inappropriate. It’s an embarrassment to broadcast journalism -- and that’s saying something -- and to CNN itself, writes Jon Friedman.

Source: MarketWatch.com - Top Stories | 24 Jun 2010 | 10:01 pm

Thomas Kostigen's Ethics Monitor: BP's terror attacks on the Earth

BP PLC is a terrorist organization funded by you and me, writes Thomas Kostigen.

Source: MarketWatch.com - Top Stories | 24 Jun 2010 | 10:01 pm

Nice Art! How Much?

Source: NPR Blogs: Planet Money | 24 Jun 2010 | 10:00 pm

Weinstein Co. raids film library to settle debts

The production company will give its creditors 200 movies — and the future revenue they would have provided.

Weinstein Co. has struck a deal to restructure its debt in the wake of several film flops, but the arrangement leaves the independent production company with a formidable task if it is to turn around its fortunes.

Source: L.A. Times - Business | 24 Jun 2010 | 9:46 pm

G20 nations see different paths for securing recovery

TORONTO/WASHINGTON (Reuters) - World leaders aimed for a common target on Thursday of securing the economic recovery, but disagreed over how best to reach it.

Source: Reuters: Business News | 24 Jun 2010 | 9:07 pm

Hundreds rally to support Hubbard

Timaru's shopping centre was brought to a standstill this morning, as hundreds of backers of embattled financier Allan Hubbard gathered to show their support for the man who has been a big part of their business community.Shop...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 9:00 pm

Tiny turtle causes taxiing plane to return to gate (AP)

AP - A caged, 2-inch turtle traveling with a 10-year-old girl caused a crew to turn around a taxiing plane, take the girl and her sisters off the flight and tell them they couldn't bring their pet along.

Source: Yahoo! News: Business News | 24 Jun 2010 | 8:58 pm

The Greeks Sell Their Treasures To Finally Pay Their Debts

There have been rumors for several months that the Greek government might have to resort to selling the Acropolis to pay some of its staggering national debt. That was almost certainly never an option, but it turns out the national government is selling some of the islands that it owns near Mykonos and several other [...]

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Source: 24/7 Wall St. | 24 Jun 2010 | 8:50 pm

Company director jailed for tax evasion

A Bay of Plenty company director was today jailed for four years jail for tax evasion of more than $700,000.Harbhajan Singh Kahlon was earlier found guilty in Tauranga District Court of 23 charges of GST-related tax fraud and...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 8:50 pm

Volkswagen to shake up Porsche board: report (Reuters)

Reuters - Volkswagen (VOWG_p.DE) plans to shake up its management at Porsche SE (PSHG_p.DE), as it looks to strengthen its hold on the automaker, the Financial Times reported on Friday.
Source: Yahoo! News: Business News | 24 Jun 2010 | 8:39 pm

RIM shares drop, BlackBerry shipments disappoint

TORONTO, June 24 (Reuters) - Research in Motion on Thursday reported subscriber and shipment figures that disappointed investors and rekindled fears that the BlackBerry maker is losing market share to Apple Inc and other rivals.

Source: Reuters: Business News | 24 Jun 2010 | 8:23 pm

Home affordability improves, market remains subdued

Homes are as affordable now as they were six years ago, according to the latest Home Affordability report from Massey University.The national affordability index improved 11.1 per cent over the past year, which is good news for...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 7:43 pm

Gibbs puts up new plan after GPG demerger panned by NZ investors

Guinness Peat Group's Tony Gibbs has heeded the calls of local investors and backed away from a proposal to carve out the Australian assets into a separate listed entity.Gibbs, a director of the diversified investment company,...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 7:20 pm

Alleged Jamaica drug lord extradited to US

Reputed Jamaican gangster Christopher “Dudus” Coke was extradited to the US where he is wanted for drugs and weapons smuggling
Source: Financial Times - US homepage | 24 Jun 2010 | 7:19 pm

Supreme Court ruling to narrow anti-corruption law could aid former Enron chief Jeffrey Skilling

The Supreme Court on Thursday made it much harder to prosecute corruption cases against public officials and corporate executives, ruling that a law used to help convict former Enron Corp. Chief Executive Jeffrey Skilling was far too broad.

Source: L.A. Times - Business | 24 Jun 2010 | 7:09 pm

NZ needs 10,000 new houses - report

About 10,000 new homes need to be built in New Zealand to keep pace with population growth and ease the current housing squeeze, a report released by Westpac shows.The report says the number of houses built halved in the two years...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 7:00 pm

Silver Fern confirms cuts, plant closure

Silver Fern Farms, the South Island meat company that went public last year by putting its shares on the Unlisted platform, plans to close plants in Canterbury with the loss of up to 174 jobs as it strips out surplus capacity.The...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 6:45 pm

Securities Commission says no Botherway conflict of interest

The Securities Commission says it is satisfied member Simon Botherway does not have a conflict of interest in relation to Aorangi Securities, Allan or Jean Hubbard, or the charitable trusts subject to the commission's recommendation...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 6:00 pm

Cash to be axed from UK festivals

Music festivals where cash is not accepted are set to come to the UK from next summer, the BBC learns.
Source: BBC News | Business | World Edition | 24 Jun 2010 | 5:53 pm

Travelport eyes US public offering

Travelport is planning to pursue a flotation in the US after the travel reservations group was forced to pull a $1.9bn offering in London earlier this year
Source: Financial Times - US homepage | 24 Jun 2010 | 5:49 pm

NZ exports at record high in May

Goods exports reached a record high $4.2 billion in May, pushed higher by increases in unsweetened whole milk powder and crude oil.The value of exports was $238 million or 6 percent above that for May 2009, making last month only...
Source: nzherald.co.nz - Business | 24 Jun 2010 | 5:27 pm

Write-Offs: 06.24.10

$$$ Greece Puts Its Islands Up For Sale To Save Economy [Guardian]

$$$ Money Manager Ken Heebner: A Hot Touch Gone Cold [BW]

$$$ Score one for Skilling [MarketWatch]

$$$ “[The World Cup] doesn’t come even close in importance to Tiger Woods’ [tell-all] press conference,” said Craig Peckham, equity strategist on the trading floor at Jefferies in New York. “People are mindful but not zeroed in on it.”

World Cup - New York City - Sports - Soccer - Competitions
Source: Dealbreaker | 24 Jun 2010 | 5:16 pm

Presented By:

Source: Dealbreaker | 24 Jun 2010 | 5:16 pm

UK banks warned that debt threatens recovery

The UK’s economic recovery is at risk if the nation’s banks do not move swiftly to raise the £750bn-£800bn needed to refinance their borrowings due by the end of 2012, the Bank of England warns on Friday
Source: Financial Times - US homepage | 24 Jun 2010 | 5:01 pm

Mining task for the new Australian PM

Julia Gillard, Australia's incoming prime minister, has the opportunity to scrap her predecessor's misguided plans to levy a new 40pc tax on mining companies' profits.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Jun 2010 | 4:48 pm

It bodes well for AXA deal that Cowdery's prepared to risk £50m

Prudential's management faced widespread unrest at their proposed $35.5bn (£24bn) acquisition of AIA because investors concluded that Harvey McGrath and Tidjane Thiam, chairman and chief executive, were fundamentally not acting in shareholders' interests.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Jun 2010 | 4:46 pm

Final chance to enter Business Thinking

Time has nearly run out for readers to enter our Business Thinking initiative with HSBC. Today is the last chance.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Jun 2010 | 4:44 pm

Stocks Drop; So Do Mortgage Rates (Market Update)

Persistent worries about the global economy are roiling the stock market, but they're also...

Source: SmartMoney.com | 24 Jun 2010 | 4:36 pm

OFT insolvency report reads last rites for 'rip-off' administrators

Office for Fair Trading calls for insolvency industry shake-up, writes Helia Ebrahimi.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Jun 2010 | 4:14 pm

Emerging markets driving advertising, says Group M

Global advertising spending is expected to rebound this year as emerging markets continue to invest in the media.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Jun 2010 | 4:09 pm

How the major stock indexes fared on Thursday (AP)

AP - Disappointing forecasts from retailers and concern about the government's financial overhaul package pounded stocks Thursday. Nike Inc. dropped 4 percent after saying increased costs could hurt earnings. Bed Bath & Beyond fell 5.6 percent after the home goods retailer's second-quarter earnings forecast missed expectations. Bank stocks fell on concerns that the financial bill nearing completion in Congress will hurt profits.
Source: Yahoo! News: Stock Markets News | 24 Jun 2010 | 4:05 pm

Retailers, banks pull stocks lower; Dow slides 146 (AP)

AP - Disappointing forecasts from retailers and concern about the government's financial overhaul package pounded stocks Thursday.

Source: Yahoo! News: Stock Markets News | 24 Jun 2010 | 4:04 pm

Summary Box: Retailers, banks drag down stocks (AP)

AP - FURTHER DROP: The benchmark Standard & Poor's 500 index fell for a fourth straight day and the Dow Jones industrials lost 146 points on concerns about the pace of the recovery.
Source: Yahoo! News: Stock Markets News | 24 Jun 2010 | 4:02 pm

Lawmakers slam top mortgage firms on loan mods

WASHINGTON (Reuters) - The four largest mortgage lenders in the United States were grilled on Capitol Hill on Thursday about the limited number of home loans they have modified for homeowners facing foreclosure.

Source: Reuters: Business News | 24 Jun 2010 | 4:01 pm

AIG chiefs at odds over failed sale of AIA

The rift between the two senior executives has triggered concerns within the board and among officials in the US government, the controlling shareholder, who fear one of the two men might leave less than a year after their appointment
Source: Financial Times - US homepage | 24 Jun 2010 | 3:50 pm

Banks win battle for limits to Basel III

International banking regulators are moving to pare back their recommendations on how to ensure the industry’s financial strength, following months of wrangling
Source: Financial Times - US homepage | 24 Jun 2010 | 3:44 pm

OFT slams insolvency industry for unfair fees

The Office of Fair Trading (OFT) has delivered a damning verdict on the insolvency profession and its treatment of businesses and taxpayers.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Jun 2010 | 3:43 pm

Hooper to review Royal Mail again

The man who recommended the part-privatisation of Royal Mail is to review the service again as conditions worsen.
Source: BBC News | Business | World Edition | 24 Jun 2010 | 3:33 pm

Drybulk, Tankers, Weak Dollar, Facebook, China: Taking Stock

Source: Bloomberg - All Podcasts | 24 Jun 2010 | 3:21 pm

This Month’s Biggest Index Gainers: Geothermal, Brazil, And Chinese Travel Stocks

There were strong gains in three Tickerspy indexes over the most recent 30-day period. This month’s biggest risers are in Geothermal Stocks, Brazil Stocks and ADRs and Chinese Travel Stocks. As the global economy pushes more for green energy, Geothermal stocks are up 10.5% in the past month. The best performing stocks in the sector are [...]

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Source: 24/7 Wall St. | 24 Jun 2010 | 2:30 pm

Morgan Stanley settles Massachusetts subprime loan probe

BOSTON (Reuters) - Morgan Stanley agreed on Thursday to pay $102 million to end an investigation in Massachusetts into unfair lending practices.

Source: Reuters: Business News | 24 Jun 2010 | 2:28 pm

Supreme Court imperils Skilling, Black convictions

WASHINGTON (Reuters) - The Supreme Court on Thursday threw into doubt the fraud convictions of former Enron Corp Chief Executive Jeffrey Skilling and ex-media baron Conrad Black, a setback for the U.S. Justice Department in two of the biggest corporate fraud prosecutions of the last decade.

Source: Reuters: Business News | 24 Jun 2010 | 2:24 pm

Bartz Focusing on Yahoo! Share Price (YHOO, GOOG, MSFT)

Yahoo Inc. (NASDAQ: YHOO) had its annual meeting of shareholders today.  The still relatively new CEO Carol Bartz says she wants to improve the company’s margins to build shareholder value.  She has also addressed the Google Inc. (NASDAQ: GOOG) rivalry and the partnership with Microsoft Corporation, but there really seems to be this nagging issue [...]

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Source: 24/7 Wall St. | 24 Jun 2010 | 2:23 pm

Charlie Gasparino: “Joe Gregory Is In The Cross Hairs”

Watch the latest business video at video.foxbusiness.com
Fortunately, this attention by the SEC has not stopped Gregory from going after the $230 million he’s owed in deferred comp.

Charlie Gasparino - Business - SEC - Goldman Sachs - Video
Source: Dealbreaker | 24 Jun 2010 | 2:21 pm

Consumer stocks fall on economic worries (AP)

AP - Consumer stocks fell Thursday as investors worried that the economy, which had been showing some signs of life, may be making a U-turn.
Source: Yahoo! News: Stock Markets News | 24 Jun 2010 | 2:18 pm

What if Your Mutual Fund Becomes an ETF?

A couple conversions may be on tap. The upshot for investors.

Source: SmartMoney.com | 24 Jun 2010 | 2:02 pm

Lufthansa settles union dispute

Lufthansa, Europe's biggest airline, settles its dispute with pilots union Vereinigung Cockpit.
Source: BBC News | Business | World Edition | 24 Jun 2010 | 1:50 pm

Should You Switch to Satellite TV? (Deal of the Day)

Dish Network, DirecTV drop prices. What to consider before switching.

Source: SmartMoney.com | 24 Jun 2010 | 1:41 pm

Lehman, Advance Sheets: Bloomberg Law Bankruptcy Review

Source: Bloomberg - All Podcasts | 24 Jun 2010 | 1:38 pm

Hasbro's Toy Story Takes a Plot Twist (On the Street)

After a takeover rumor, a look at the state of the play in the industry.

Source: SmartMoney.com | 24 Jun 2010 | 1:31 pm

YouTube Viewership Hits Record: A Fool And His Time Are Soon Parted

The average American clearly does not have a way to make constructive use of his time. Over the course of a month, he watches 100 videos on YouTube. At least that is the conclusion of internet research firm comScore.  YouTube is owned by Google Inc. In the US, “Nearly 183 million viewers watched an average [...]

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Source: 24/7 Wall St. | 24 Jun 2010 | 1:28 pm

A look at global economic developments (AP)

AP - A look at economic developments and activity in major stock markets around the world Thursday:
Source: Yahoo! News: Stock Markets News | 24 Jun 2010 | 1:27 pm

Fresh appeal in Conrad Black case

A US appeals court is told to look again at the convictions of former media tycoon Conrad Black and ex-Enron boss Jeffrey Skilling.
Source: BBC News | Business | World Edition | 24 Jun 2010 | 12:11 pm

2+ Million Cribs Recalled

Image: CPSC

The government recalled more than 2 million cribs today. The cribs, most of them drop side models, may entrap infants. Recalled cribs come from Evenflo, Delta, LaJobi, Million Dollar Baby, Simmons Juvenile Products, Jardine, and Child Craft. The Washington Post has more:

More than 2 million cribs from Evenflo, Delta Enterprise Corp. and five other companies were recalled Thursday amid concerns that babies can suffocate, become trapped or fall from the cribs.

Most of the cribs were drop-sides, which have a side rail that moves up and down so parents can lift children from them more easily. That movable side, however, can malfunction or detach from the crib, creating a dangerous gap where babies’ heads can become trapped, leading to suffocation or strangulation.

No deaths were linked to the recalled cribs, but there were more than 250 reports of drop-sides detaching or failing and at least 16 entrapments of infants. In one case, a child was found unconscious and later hospitalized.

In the announcement from the Consumer Product Safety Commission, all seven companies recalled drop-side cribs. Delta and Child Craft also acknowledged problems with fixed-side cribs.

The CPSC wants to ban drop-side cribs. They should–these things get recalled every few months for the same set of problems.

For more details on recalled crib models, visit the CPSC’s website.

For more information on where to buy safe cribs, check out The 15 Riskiest Baby and Child Products You Can Buy.

Source: Business Pundit | 24 Jun 2010 | 11:58 am

Divide emerges as companies tackle debt

There is likely to be more, not less, pressure on banks in the coming years as Basel reforms bite
Source: Financial Times - US homepage | 24 Jun 2010 | 11:50 am

Fake Lake Gate riles Canadians

Canadians are up in arms about the high cost of the back-to-back G-8 and G-20 meetings in Canada, which includes an "Experience Canada Pavilion" complete with a fake lake. Marketplace's Sean Cole takes a look.
Source: Marketplace | 24 Jun 2010 | 11:37 am

"Honest Services" statute more defined

The Supreme Court ruled today to greatly narrow the definition of honest services fraud, calling into question several high profile convictions, including that of former Enron chief Jeff Skilling.
Source: Marketplace | 24 Jun 2010 | 11:37 am

G-8, G-20 or a G-14?

Kai Ryssdal talks to Marketplace's Europe correspondent Stephen Beard about what he expects will be discussed at the G-8 and G-20 meetings in Canada and also the challenges of having so many, or so few, countries in the global groups.
Source: Marketplace | 24 Jun 2010 | 11:37 am

For-profit schools questioned by Congress

For-profit schools were called to Capitol Hill today to answer questions about taking government funds but leaving students loaded with debt.
Source: Marketplace | 24 Jun 2010 | 11:37 am

Asian Americans find spotlight in YouTube

Kai Ryssdal talks to professor and music critic Josh Kun about how Asian American musicians are navigating their way into the limelight.
Source: Marketplace | 24 Jun 2010 | 11:27 am

Chinese labor pool on the decline

Marketplace's Scott Tong examines the effect the one-child policy is having and may have on China's labor market and manufacturing industry.
Source: Marketplace | 24 Jun 2010 | 11:27 am

Lender tries to prevent strategic defaults

Government-owned mortgage lender Fannie Mae issued new policies which would prevent home owners from strategically walking away from their mortgages and penalties for those who do.
Source: Marketplace | 24 Jun 2010 | 11:27 am

Sec'y Gates calls McChyrstal incident an 'anomaly' (AP)

AP - Defense Secretary Robert Gates says he considers the incident that forced the ouster of Gen. Stanley McChrystal as "an anomaly, not a systemic problem" in the U.S. military establishment.
Source: Yahoo! News: Stock Markets News | 24 Jun 2010 | 11:18 am

China currency dispute has not gone away

When the country’s central bank said there would be no dramatic movements in the exchange rate, it clearly was not kidding
Source: Financial Times - US homepage | 24 Jun 2010 | 10:53 am

How To Help The Schoolchildren Of L'Artibonite

Source: NPR Blogs: Planet Money | 24 Jun 2010 | 10:30 am

FTSE 100 shares end down (AFP)

AFP - London shares suffered sharp losses on Thursday on renewed concerns for Greek finances.

Source: Yahoo! News: Stock Markets News | 24 Jun 2010 | 10:28 am

Hugh Hendry: “I Want To Bring Soros Down”

“You know George [Soros] is someone we all have aspired to match his brilliance but I have to tell you, you have to remember something there, the richest people on the planet become socialist. Socialism is a great thing for George. I want to bring George down. I want George’s reputation. George is now embracing socialism. What is socialism? Socialism is when you build a moat around the castle. I’m spending all of my time trying to decide where I’m going to live because of taxes are so high in the country and less of my time trying to figure out how to surpass Soros and his reputation.” [Bloomberg]

George Soros - Socialism - European Union - Soros - Germany
Source: Dealbreaker | 24 Jun 2010 | 9:48 am

iPhone 4: 'A Garden Of Pure Ideology, Where Each Worker May Bloom'

Source: NPR Blogs: Planet Money | 24 Jun 2010 | 9:16 am

The Case for Less Liquid Stocks (Tradecraft)

Hoenig: Why two new funds are investing in out-of-favor stocks.

Source: SmartMoney.com | 24 Jun 2010 | 9:01 am

Michael Lewis Has Clearly Not Heard That In An Unprecedented Move Goldman Sachs Has Been Deigning To Speak To, Buy Sushi Lunches For Clients

If he had, I don’t think he would’ve made the following prediction, or the even insanely ballsier one that some GS employees will leave the firm to start hedge funds.

“This is a prediction that is going to come back and haunt me, but I think that Goldman Sachs is doomed. I don’t think that in its current form it can survive. We could be looking at four to five years, but the proprietary activities will split off, those people will end up in their own hedge fund – that is if new regulation doesn’t forbid it anyway.” The PR problems, Lewis thinks, will just be insurmountable. “Their relationships with customers on every front are poisoned, and they can’t function as an investment consultant if they have this problem of honesty.”

The Scrooge of Wall Street who says we should blame Americans [CityAM via BI]

Goldman Sachs - Hedge fund - Wall Street - Business - Investing
Source: Dealbreaker | 24 Jun 2010 | 8:57 am

Goldman Sachs Seeing Gold Rising to $1,400 an Ounce: Audio

Source: Bloomberg - All Podcasts | 24 Jun 2010 | 8:48 am

What People Really Want to Know About BP

I recently experimented to see what Google suggested for BP-related queries. Many are predictable, but some–like queries for BP jobs–indicate that people are looking for more than just news. Here are some of the more interesting finds:

Source: Business Pundit | 24 Jun 2010 | 8:47 am

Bove: “Goldman Sachs Is Weak”

GS Note [PDF]

Goldman Sachs - U.S. Securities and Exchange Commission - Lloyd Blankfein - Wall Street - Stock
Source: Dealbreaker | 24 Jun 2010 | 8:30 am

Reinhart, Gregg, Dell, Dwyer, Darling, Munster: Surveillance

Source: Bloomberg - All Podcasts | 24 Jun 2010 | 8:25 am

Allan Meltzer, Avery Shenfeld, Richard Yamarone: On the Economy

Source: Bloomberg - All Podcasts | 24 Jun 2010 | 8:23 am

How Strong Is the U.S. Recovery? (Early Bird)

WHAT'S HAPPENING NOW: Dissecting the Fed's unexpectedly gloomy take on the economy.

Source: SmartMoney.com | 24 Jun 2010 | 7:29 am

Opening Bell: 06.24.10

Bank execs panic over proposed change to orderly liquidation authority (Politico via HNM)
“Bank executives were panicking last night over a proposed fix to Title II of financial reform literally penciled in at the last minute. The fear is that that the proposed change to the orderly liquidation authority could leave banks on the hook for a possible wind-down of Fannie Mae and Freddie Mac that could cost as much as $400 billion. In the House counter-offer below, Fannie and Freddie are penciled in as falling under the definition of ‘financial company,’ meaning they could be resolved by the orderly liquidation process. This process is paid for by the sale of the failing company’s assets and/or through assessments on other financial companies, possibly putting the Street in line to pay for the liquidation of the troubled housing giants.”

European diplomats clash over hedge fund clampdown (Reuters)
The stand-off is taking place shortly before EU leaders including German Chancellor Angela Merkel and French President Nicolas Sarkozy travel to Toronto for a meeting of the Group of 20 major economies. They want to champion Europe as a model for ambitious regulation but an impasse over hedge funds and watchdogs means the EU is struggling to write laws while U.S. President Barack Obama is to sign off on rules within weeks to control finance. “We need statesmanship, not brinkmanship,” said one European Union diplomat. “The stakes are too high. By parliament reaching for the impossible, we could all end up with nothing.”

Swedish Heiress Tests Kinnevik Legacy With Africa, Russia Move (Bloomberg)
When Jan Stenbeck announced his 21- year-old daughter, Cristina, would succeed him as head of Sweden’s second-largest family controlled investment firm, even she was surprised. Three years later, she was in charge. Stenbeck was 24 at the time her father died in 2002 of a heart attack and had a resume that included two years at Ralph Lauren and five years on the board of a unit of the family’s Kinnevik AB.

Trichet Explains Why Soros Is Wrong About the Euro (CNBC)
“By insisting on pro-cyclical policies, Germany is endangering the European Union,” Soros warned. “I realize that this is a grave accusation, but I am afraid it is justified.” Trichet dismissed this, saying the euro was a very credible currency that has kept its value from its debut and has guaranteed price stability for 11 and a half years, with an annual average inflation of 1.98 percent in the euro-zone in that period. “A currency that guarantees such stable prices, it’s of value in the eyes of domestic and international investors” Trichet told an Italian paper.

The massacring of Goldman Sachs vs. the jocundity of Jefferies (eF)
“Jefferies is a player, and a payer.”

Banker Who Blew Whistle on Secrecy Over Tax Cheats Seeks Pardon (Bloomberg)
Sleeping in a bunk bed in a dormitory-style building with 35 other inmates is far from the reward Birkenfeld says he deserves for exposing a massive tax-evasion scandal at UBS, the biggest Swiss bank.

Masseuse Claims Al Gore Sexually Abused Her (NYP)
The alleged incident took place at an upscale hotel in Portland in October 2006 while the former vice president, now 62, was in town to talk about climate change. The woman also claimed she even saved pants she wore the night of the encounter after noticing suspicious stains on the garment, a police report noted.

European Union - Hedge fund - Goldman Sachs - United States - Fannie Mae
Source: Dealbreaker | 24 Jun 2010 | 7:28 am

Silva on Stocks, Brzeski on European Debt Crisis: First Word

Source: Bloomberg - All Podcasts | 24 Jun 2010 | 7:07 am

The $400 Billion Scribble

Source: NPR Blogs: Planet Money | 24 Jun 2010 | 6:31 am

Google Wins Viacom Copyright Case

A judge has dismissed Viacom’s $1 billion copyright infringement case against Google. Viacom claimed that thousands of its copyrighted videos were on YouTube, but Google hadn’t enforced the copyright on those videos. The BBC has more:

District Judge Louis Stanton said in his ruling: “Mere knowledge of prevalence of such activity in general is not enough. The provider need not monitor or seek out facts indicating such activity.”

Google and YouTube had argued that they were entitled to “safe harbour” protection under digital copyright law because they had insufficient notice of particular alleged offences. Judge Stanton agreed, saying that when “YouTube was given notices, it removed the material… it is thus protected from liability” under a provision in the Digital Millennium Copyright Act.

Media conglomerate Viacom said it planned to appeal against the decision. Viacom called the ruling “fundamentally flawed” and said it reflected neither Congress’s intent behind copyright laws nor recent Supreme Court decisions.

Forbes’ Andy Greenberg put together four good business lessons from the Google/Viacom ruling–it’s worth taking a look.

Source: Business Pundit | 24 Jun 2010 | 6:07 am

A Different Kind of Bestseller

Source: Business Pundit | 24 Jun 2010 | 4:45 am

Petraeus faces tough path in Afghanistan

The new head of US and Nato forces in Afghanistan earned a reputation in Washington as the saviour of the Iraq war but he admits the Afghan conflict presents entirely different challenges
Source: Financial Times - US homepage | 24 Jun 2010 | 4:11 am

3 Companies Priced for a Buyout (Screens)

Hough: Whether targets or not, these firms are attractively priced.

Source: SmartMoney.com | 24 Jun 2010 | 3:47 am

Tom Forester Looking to Boost Cash

Forester was the only U.S. equity-fund manager to post a gain in 2008.

Source: SmartMoney.com | 24 Jun 2010 | 3:45 am

To Short, or Not to Short? (Common Sense)

Stewart: We used ETFs to bet on a stock market dip -- but it didn't work out quite as we planned.

Source: SmartMoney.com | 24 Jun 2010 | 3:00 am