At least 15 dead in Pakistan gas blast (AFP)

AFP - A gas tanker exploded in the southern Pakistani city of Hyderabad on Monday, killing at least 15 people and destroying several nearby shops, officials said.

Source: Yahoo! News: Business News | 28 Jun 2010 | 10:38 am

Central banks warn of new crisis if exit left too late

BASEL, Switzerland (Reuters) - Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from measures prescribed to tackle the global recession may create the next crisis, the Bank for International Settlements said.

Source: Reuters: Business News | 28 Jun 2010 | 4:12 am

The American Economy: Making Money By Keeping People Unemployed

The secret to the amazing increases in productivity in the American economy is finally out. Companies in the US are not hiring full-time workers. They are gambling that they can keep their margins higher by keeping a vast portion of the workforce, perhaps millions of people, unemployed. Unemployed people, it turns out to no one’s [...]

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Source: 24/7 Wall St. | 28 Jun 2010 | 4:09 am

Global banking system not yet on solid footing

BASEL, Switzerland (Reuters) - The world's banks are still not out of the woods despite recent multi-billion profits as writedowns on loans loom and funding pressures remain high, the Bank for International Settlements said.

Source: Reuters: Business News | 28 Jun 2010 | 4:08 am

BP oil spill costs up to $2.65bn

BP says its bill for the Gulf of Mexico spill has reached $2.65bn (£1.76bn), after rising $100m a day over the last three days.
Source: BBC News | Business | World Edition | 28 Jun 2010 | 4:06 am

Stock futures struggle higher

U.S. stocks were expected to open mostly higher Monday after leaders of the world's economic powers committed to reducing deficits over the next few years.
Source: Business and financial news - CNNMoney.com | 28 Jun 2010 | 4:05 am

Markets becalmed after G20 meeting

Investors welcomed the delay to the implementation of tough new rules to regulate banks following a meeting of world leaders over the weekend
Source: Financial Times - US homepage | 28 Jun 2010 | 4:04 am

Asian markets mixed on G-20 news, before U.S. data

Asian stocks end mixed Monday in cautious trade as investors digest the weekend communiqué from the Group of 20 nations.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 3:59 am

G20 parts ways in search of lasting recovery

TORONTO (Reuters) - World leaders agreed on Sunday to take different paths for cutting budget deficits and making their banking systems safer, a reflection of the uneven and fragile economic recovery in many countries.

Source: Reuters: Business News | 28 Jun 2010 | 3:58 am

Network of £5-only ATMs launched

A network of cash machines that only dispense £5 notes has been launched in the UK, to try to meet the demand for fivers.
Source: BBC News | Business | World Edition | 28 Jun 2010 | 3:58 am

Indications: Stock futures rise as G-20 pledges to cut deficits

FRANKFURT (MarketWatch) -- U.S. stock futures posted modest gains on Monday, as leaders of the world's advanced economies pledged to halve their government deficits by 2013.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 3:56 am

China Factory Output Down Nearly A Fifth As Other Car Companies Look On

Honda says that its factory output in China is down nearly 20% in the month of May. The labor dispute between Chinese workers and the Japanese car company worsened in June, so the problem is almost certainly getting worse. And, it may get worse again. Unions have been able to coordinate their strikes enough to [...]

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Source: 24/7 Wall St. | 28 Jun 2010 | 3:55 am

G20 agrees deficit cuts by 2013

Leaders at the G20 summit in Canada agree the richest members will halve their budget deficits within three years.
Source: BBC News | Business | World Edition | 28 Jun 2010 | 3:50 am

10 Things Funeral Directors Won't Tell You (10 Things)

The best protection from an overpriced funeral: shopping around.

Source: SmartMoney.com | 28 Jun 2010 | 3:46 am

Tips for Assessing E-Reader Deals (Deal of the Day)

Inexpensive readers abound, but few are bargains. What shoppers need to know.

Source: SmartMoney.com | 28 Jun 2010 | 3:46 am

Interview With Best Buy CEO Brian Dunn (The Corner Office)

Why the store sells everything from mobile phones to martini makers.

Source: SmartMoney.com | 28 Jun 2010 | 3:46 am

Managing Your Mortgage the Right Way

Avoid these financial pitfalls when paying down your mortgage.

Source: SmartMoney.com | 28 Jun 2010 | 3:46 am

Europe Markets: Autos, oil and gas firms help Europe to gains

European shares edge lower Monday with Standard Chartered trading lower in a weaker banking sector, offsetting gains for oil and gas firms.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 3:42 am

Is euro's recent stability a Chinese basket case?

Europe might have the People’s Bank of China to thank for its currency’s relative stability last week.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 3:37 am

BP May Have Met Its Match In The Weather

BP plc (NYSE: BP) may be close to capturing all the oil coming from the leak of the Deepwater Horizon rig. It caught 28,000  barrels of the rising crude on Saturday. Most estimates put the amount of the leak at about 50,000 barrels a day. BP may be siphoning off most of that by the [...]

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Source: 24/7 Wall St. | 28 Jun 2010 | 3:36 am

Sky Sports available on BT Vision

BT and Sky sign a deal that will allow BT Vision customers to watch Sky Sports 1 and Sky Sports 2.
Source: BBC News | Business | World Edition | 28 Jun 2010 | 3:28 am

China yuan peg at five-year high

China sets the yuan exchange rate at its highest level in five years, following the G20 summit in Toronto.
Source: BBC News | Business | World Edition | 28 Jun 2010 | 3:28 am

The Failure Of G-20 Meeting And The Trouble Financial Future

It will be harder to stabilize the global economy based on the principles which came out of the G-20 Toronto meeting than to put a camel through the eye of a needle. The G-2p’s goals and the programs already in place in the member nations are so complex that the chance they will together is [...]

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Source: 24/7 Wall St. | 28 Jun 2010 | 3:18 am

Social networks 'boom' in Russia

Social networking in Russia will grow further due to the country's size, climate and big pool of engineering talent, a leading investor tells the BBC.
Source: BBC News | Business | World Edition | 28 Jun 2010 | 3:15 am

World stocks post gains in wake of deficit pledges

European markets rose Monday, breaking a four-day run of losses, after the Group of 20 rich and developing nations vowed to reduce their deficits. Leaders at the summit in Toronto this...
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 3:14 am

World stocks post gains in wake of deficit pledges (AP)

AP - European markets rose Monday, breaking a four-day run of losses, after the Group of 20 rich and developing nations vowed to reduce their deficits.

Source: Yahoo! News: Business News | 28 Jun 2010 | 3:14 am

World stocks post gains in wake of deficit pledges (AP)

AP - European markets rose Monday, breaking a four-day run of losses, after the Group of 20 rich and developing nations vowed to reduce their deficits.

Source: Yahoo! News: Stock Markets News | 28 Jun 2010 | 3:14 am

UPDATE 2-Novartis needs Alcon directors' OK for buyout -advisor

* Legal expert says Alcon board needs support of directors
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 3:07 am

Stock index futures point to mixed open

(Reuters) - U.S. stock index futures pointed to a mixed opening on Wall Street on Monday, with futures for the S&P 500 up 0.4 percent, Dow Jones futures gaining 0.3 percent and Nasdaq 100 futures up 0.3 percent at 4:50 a.m. ET.

Source: Reuters: Business News | 28 Jun 2010 | 3:04 am

Stock index futures point to mixed open (Reuters)

Reuters - U.S. stock index futures pointed to a mixed opening on Wall Street on Monday, with futures for the S&P 500 up 0.4 percent, Dow Jones futures gaining 0.3 percent and Nasdaq 100 futures up 0.3 percent at 4:50 a.m. ET.

Source: Yahoo! News: Stock Markets News | 28 Jun 2010 | 3:04 am

BP's oil spill costs rise to $2.65 billion

LONDON (MarketWatch) -- Embattled U.K. energy giant BP Plc said Monday the costs of cleaning up the oil spill in the Gulf of Mexico have soared to $2.65 billion, an increase of $300 million from the company's estimate last Friday.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 3:03 am

Strategists to Investors: Skip the Panic Button (Pundit Watch)

Housing and GDP letdowns hit stocks, but market watchers remain at ease.

Source: SmartMoney.com | 28 Jun 2010 | 3:01 am

Asset managers hard at work (really) in Monaco

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 2:57 am

UPDATE 2-Japan's Idemitsu sees Q3 crude refining down 2 pct

* Refining for domestic market drops 4 pct to 6.2 mln kl
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:53 am

AstraZeneca signs malaria drug research agreement

LONDON, June 28 (Reuters) - Anglo-Swedish drugmaker AstraZeneca said it was opening up around 500,000 of its chemical compounds to the Medicines for Malaria Venture (MMV) to help speed up development...
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:48 am

Oil falls toward $78 as traders eye Gulf storm (AP)

AP - Oil prices dropped slightly to near $78 a barrel Monday in Asia as traders kept a close eye on damage a possible hurricane could cause rigs in the Gulf of Mexico this week.

Source: Yahoo! News: Business News | 28 Jun 2010 | 2:48 am

Oil falls toward $78 as traders eye Gulf storm

Oil prices dropped slightly to near $78 a barrel Monday in Asia as traders kept a close eye on damage a possible hurricane could cause rigs in the Gulf of Mexico this week. Benchmark...
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:48 am

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

The 24/7 Wall Street Corporate Power Rankings of the 32 most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and change, and credible rumors. It is, in effect, a new version of the DJIA. The Corporate Power Rankings are released at [...]

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Source: 24/7 Wall St. | 28 Jun 2010 | 2:47 am

London Markets: BP recoups some losses in mildly higher FTSE

Gains for oil and gas firms help the top British share index to edge higher on Monday, with BP taking back a fraction of the sharp losses made since April.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 2:44 am

EURO BONDS-Neste Oil, HSH Nordbank

LONDON, June 28 (Reuters) - News, details on corporate bond issues in the European markets on Monday:
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:35 am

Lighting up Africa

In the Bugesera region of Rwanda -- a land known for its sorghum farming and also its poverty -- an experiment in capitalism is taking place. For lighting, most villagers here use kerosene lamps, which cause air pollution and lung disease and are a severe fire hazard. Annonciata Mukandekwe, a 50-year-old basket weaver, has a better idea. She spends an hour a day pedaling a small generator that charges LED lights. In her first two weeks in business, this widow sold 140 of the $6.58 lamps to her fellow villagers. Mukandekwe earns $3.78 a day in charging fees -- more than triple the daily income in rural Rwanda. Her customers get safe, clean lighting at one-tenth the cost of kerosene.
Source: Business and financial news - CNNMoney.com | 28 Jun 2010 | 2:34 am

World stock markets post muted gains

World stock markets mostly posted muted gains Monday as investors searched for fresh cues after a flat session on Wall Street and a pledge by world leaders to reduce budget deficits. In...
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:33 am

Elena Kagan, wild card for big business

Members of the Senate judiciary committee have plenty of ground to cover at this week's confirmation hearing of U.S. Solicitor General Elena Kagan. But when it comes to what big business should expect from President Obama's pick to replace U.S. Supreme Court Justice John Paul Stevens, the talking heads are united in their uncertainty: Who really knows what she'll do? She's a wild card.
Source: Business and financial news - CNNMoney.com | 28 Jun 2010 | 2:28 am

Connaught shares tumble 58pc on austerity fears

Connaught, the social housing maintenance group, has seen half its market value eroded after a warning on Friday over public spending cuts.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jun 2010 | 2:24 am

Planning for the care of a special-needs child

Jason and Amanda Purnell met while getting their Ph.D.s in psychology at Ohio State, married in 2007, and were ecstatic when Amanda became pregnant shortly before they moved to St. Louis last July to be near family. Then they learned that their 22-week-old fetus had Down syndrome. They were shocked -- at 29, Amanda was well below the at-risk age to conceive a baby with this condition. "The first 24 hours, I was inconsolable," she says.
Source: Business and financial news - CNNMoney.com | 28 Jun 2010 | 2:23 am

UPDATE 1-Creston agrees to sell ad agency DLKW to IPG

June 28 (Reuters) - British communications firm Creston Plc said it agreed to sell its advertising agency DLKW Group to the world's No. 4 ad group Interpublic Group of Cos Inc for 28 million pounds.
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:23 am

Deficit hawks score points at G-20

Leaders of the world's most important economies agreed to ambitious targets for getting deficits under control, pledging to cut them in half by 2013, according to a statement made following the G-20 summit this weekend in Toronto.
Source: Business and financial news - CNNMoney.com | 28 Jun 2010 | 2:20 am

Job blues for gray-haired workers

Companies are starting to hire again, but many are turning their backs on older job seekers.
Source: Business and financial news - CNNMoney.com | 28 Jun 2010 | 2:19 am

Standard Chartered on track for strong first half

Standard Chartered, the Asia-focused British bank, said it was on track for a strong first-half performance.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jun 2010 | 2:17 am

Equities and dollar edge up as G20 has little impact (Reuters)

Reuters - World shares firmed slightly after a four-day retreat on Monday with investors still cautious about global economic recovery and shrugging off the rather neutral conclusion to a weekend G20 leaders' summit.

Source: Yahoo! News: Stock Markets News | 28 Jun 2010 | 2:16 am

Closing out a rough first half

It's the last week of the month, the second quarter and the first half of the year -- and there are big questions about the health of the economy and whether stocks can regain momentum.
Source: Business and financial news - CNNMoney.com | 28 Jun 2010 | 2:13 am

Flotilla of barges used as oil barricade (AP)

AP - Mired in a daily battle against the oil soiling Louisiana's shorelines, marshes and wetlands, locals in this barrier island town are pushing ahead with a novel plan to block the crude's path with a flotilla of barges.

Source: Yahoo! News: Business News | 28 Jun 2010 | 2:10 am

UPDATE 1-France Tel drops out of Le Monde's race

* France Telecom, Nouvel Obs to withdraw bid post meeting.
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:09 am

NZ dollar drifts lower

The New Zealand dollar drifted lower today after rising during the weekend.It was at US71.12c at 5pm, down from US71.41c at 8am but up from the US70.38c at 5pm on Friday. It moved from below US70c around 10pm on Friday to peak...
Source: nzherald.co.nz - Business | 28 Jun 2010 | 2:04 am

Media Digest 6/29/2010 Reuters, WSJ, NYTimes, FT Bloomberg

GReuters:   Thick oil hit the Mississippi coast as a large storm moved toward the Gulf. Reuters:   BP plc’s (NYSE: BP) oil spill costs hit $100 million a day. Reuters:   G20 leaders decided not to make positive comments about China’s move on the yuan. Reuters:   G20 plans to reduce national deficits will [...]

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Source: 24/7 Wall St. | 28 Jun 2010 | 2:04 am

NZ sharemarket has bad start to week

The New Zealand sharemarket started the week badly and brokers can see little on the horizon to lift it from its current malaise.The benchmark NZX-50 index closed down 25.702 points, or 0.847 per cent, at 3008.409. Turnover was...
Source: nzherald.co.nz - Business | 28 Jun 2010 | 2:02 am

Dubai ports firm holds off on London stock listing

Dubai's global port operator says it is delaying plans to raise cash by listing its shares on the London Stock Exchange. DP World said in a regulatory filing Monday that it remains...
Source: RSS feed - channel BNewsBusiness | 28 Jun 2010 | 2:01 am

Dubai ports firm holds off on London stock listing (AP)

AP - Dubai's global port operator says it is delaying plans to raise cash by listing its shares on the London Stock Exchange.
Source: Yahoo! News: Business News | 28 Jun 2010 | 2:01 am

Second EU-US open skies is signed

EU transport ministers sign a second "open skies" agreement with the US at a meeting in Luxembourg.
Source: BBC News | Business | World Edition | 28 Jun 2010 | 1:59 am

FTSE 100 climbs at open (AFP)

AFP - Leading shares rose at the start of trading on Monday following mixed results in Asia overnight.

Source: Yahoo! News: Stock Markets News | 28 Jun 2010 | 1:50 am

Start-up stories

What PayPal co-founder Max Levchin did next
Source: BBC News | Business | World Edition | 28 Jun 2010 | 1:49 am

Blood diamonds

Have efforts to stamp out conflict diamonds worked?
Source: BBC News | Business | World Edition | 28 Jun 2010 | 1:45 am

China sets strongest yuan rate in years after G20 pressure

China set the strongest yuan exchange rate in years on Monday after Beijing came under renewed pressure at the Group of 20 summit over the weekend to let the currency appreciate.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jun 2010 | 1:39 am

House sales up since General Election, says cautious Taylor Wimpey

Taylor Wimpey, the British housebuilder, said sales have recovered after a lull around the time of the General Election but political uncertainty is leading to caution in the sector.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jun 2010 | 1:07 am

Currencies: Dollar edges up vs. euro, yen in Asian trading

The dollar was modestly higher in late Asian trading Monday, as investors digested the implications of the weekend’s Group of 20 major economies meeting.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 1:07 am

Unpaid summer internships gaining popularity at small firms

Employment criteria are governed by federal and state regulations, and even well-meaning business owners can run afoul of labor laws regarding these temporary positions.

Summer is the peak season for educational internships of all kinds — paid and unpaid. For small businesses, the unpaid ones are gaining in popularity.

Source: L.A. Times - Business | 28 Jun 2010 | 1:00 am

Unpaid summer internships gaining popularity at small firms

Employment criteria are governed by federal and state regulations, and even well-meaning business owners can run afoul of labor laws regarding these temporary positions. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 1:00 am

Arrowhead is latest credit union seized as regulators step up reviews

Officials cite the 'declining financial condition' not-for-profit financial institution, one of the largest in the Inland Empire. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 1:00 am

How I Made It: Shawn Hunter, head of soccer's Club Deportivo Chivas USA

Hunter, the president and CEO of the Major League Soccer team, has two decades of experience in the front office — stretched over three different pro sports and Division I athletics. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 1:00 am

How I Made It: Shawn Hunter, head of soccer's Club Deportivo Chivas USA

Hunter, the president and CEO of the Major League Soccer team, has two decades of experience in the front office — stretched over three different pro sports and Division I athletics.

The gig: As president and chief executive of Major League Soccer's Club Deportivo Chivas USA, Shawn Hunter oversees all aspects of running a team in a fast-growing sports league. With two decades of experience in the front office — stretched over three different pro sports and Division I athletics — Hunter, 46, is a true utility man for the 6-year-old Chivas organization, which he's led since 2007. In addition to managing roughly 100 staffers, including players, he also serves on the MLS board, running its key business development committee.

Source: L.A. Times - Business | 28 Jun 2010 | 1:00 am

Silicon Valley becoming driving force for electric vehicles

Companies in the California region are developing not only electric vehicles but also the infrastructure needed to keep them on the road.

A 2006 documentary about General Motors Co.'s ill-fated EV1 famously asked, "Who Killed the Electric Car?"

Source: L.A. Times - Business | 28 Jun 2010 | 1:00 am

American Airlines' fast check-in device arrives at LAX

Also: After Virgin Atlantic incident, critics call for expansion of tarmac-delay rule, and Oyster.com reveals what hotels don't. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 1:00 am

Silver is on a big run-up

Its price rise is outperforming most other metals.
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 1:00 am

Boycott BP? That's easier said than done

Consumers who want to show their outrage over the massive oil spill in the Gulf of Mexico will find that the company is deeply rooted in the U.S. economy. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 1:00 am

Silver is on a big run-up

Its price rise is outperforming most other metals.

Source: L.A. Times - Business | 28 Jun 2010 | 1:00 am

Arrowhead is latest credit union seized as regulators step up reviews

Officials cite the 'declining financial condition' not-for-profit financial institution, one of the largest in the Inland Empire.

The federal seizure of one of the Inland Empire's largest credit unions over the weekend was part of a stepped-up effort by regulators to shore up the financial institutions, which were battered along with banks by the mortgage meltdown and the real estate bust.

Source: L.A. Times - Business | 28 Jun 2010 | 1:00 am

American Airlines' fast check-in device arrives at LAX

Also: After Virgin Atlantic incident, critics call for expansion of tarmac-delay rule, and Oyster.com reveals what hotels don't.

At some grocery stores, cashiers open an extra checkout station when the lines get long.

Source: L.A. Times - Business | 28 Jun 2010 | 1:00 am

Boycott BP? That's easier said than done

Consumers who want to show their outrage over the massive oil spill in the Gulf of Mexico will find that the company is deeply rooted in the U.S. economy.

Jesse Torres, an avid sport fisherman, says he's boycotting BP products out of anger over the company's handling of its massive oil spill in the Gulf of Mexico.

Source: L.A. Times - Business | 28 Jun 2010 | 1:00 am

Silicon Valley becoming driving force for electric vehicles

Companies in the California region are developing not only electric vehicles but also the infrastructure needed to keep them on the road. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 1:00 am

BP oil spill costs hit $100 million/day

LONDON (Reuters) - BP said it had spent $300 million on its Gulf of Mexico oil spill response effort in the past three days, hitting the $100 million/day spend rate for the first time and bringing its total bill to $2.65 billion so far.

Source: Reuters: Business News | 28 Jun 2010 | 12:47 am

Markets becalmed after G20 meeting

Monday 07:20 BST. Like an England centre-half pairing, markets appear unsure which direction to take, with investors relieved by a benign G20 meeting but still harbouring lingering concerns about the...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2010 | 12:44 am

Chinese yuan likely tracking 15 currencies

China is likely tracking more than a dozen currencies in addition to the U.S. dollar in setting the value of the yuan, though the greenback likely retains its dominant status, analysts say.

Source: MarketWatch.com - Top Stories | 28 Jun 2010 | 12:27 am

Home owners given new protection

New rules for struggling mortgage holders have been put in place by the Financial Services Authority.
Source: BBC News | Business | World Edition | 27 Jun 2010 | 11:18 pm

AMI Insurance warns of investment scams

AMI Insurance says people should be wary of a telephone scam where people claiming to be from the company ask for sums of $10,000 to $25,000 to be invested at an interest rate of 13 per cent.The callers refer to the company they...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 11:16 pm

Peter Brimelow: Rifle-shotter shows off aim for stocks

Fed up with the mean market? Ignore timing and just pick stocks. Peter Brimelow reports that one top-performing letter is making it work.

Source: MarketWatch.com - Top Stories | 27 Jun 2010 | 10:57 pm

US businesses intend to hang on to cash

Most US companies do not expect to spend any of their cash in spite of holding a record amount on their balance sheets, according to a new survey
Source: Financial Times - US homepage | 27 Jun 2010 | 10:49 pm

G20 delays new bank rules to safeguard recovery

TORONTO (Reuters) - The G20 has agreed to give banks more time to adopt tougher global rules in a concession that the body tasked with coordinating reforms said would both safeguard the recovery and ultimately lead to stronger banks.

Source: Reuters: Business News | 27 Jun 2010 | 10:43 pm

Bank overhaul bill has plenty of rules and critics (AP)

AP - To keep taxpayers from having to bail out giant banks again, lawmakers faced two choices: design rules to try to prevent them from failing, or shrink them so that if they do fail, they won't threaten the financial system.
Source: Yahoo! News: Stock Markets News | 27 Jun 2010 | 10:01 pm

May Wang creditors say yes to 2c payout plan

Creditors in May Wang's failed property development company have voted in favour of a deal that will see them get repaid 2c in the dollar.The Chinese businesswoman, who is fronting a $1.5 billion bid to buy up New Zealand dairy...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 8:45 pm

NZ business optimism falters - survey

New Zealand business optimism has faded over the past two months as deteriorating global sentiment dented the outlook for the local economy and sapped firms' intentions to take on new staff and make investments. Headline confidence...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 8:42 pm

Feltex director denies company statements misled public

Deloitte's former chairman John Hagen has given evidence today in Feltex's defence against allegations the company breached the Financial Reporting Act (FRA) by not properly disclosing certain information in its interim financial...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 8:30 pm

G20: Obama - spend; others - tax

TORONTO - World leaders, shaken by the European debt crisis but wary of ending stimulus programs, have pledged to slash government deficits in the most industrialised nations in half by 2013, with flexibility to meet the goal.They...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 8:30 pm

G20 push for IMF voting power deal by November

TORONTO (Reuters) - Group of 20 leaders pledged on Sunday to push for agreement on greater voting power for emerging economic powers in the International Monetary Fund by the next summit in Seoul, South Korea, in early November.

Source: Reuters: Business News | 27 Jun 2010 | 7:40 pm

Air China to buy 20 Boeing planes for $1.4 billion

HONG KONG (Reuters) - Air China said late on Friday that it would buy 20 Boeing 777-800 airplanes for $1.4 billion.

Source: Reuters: Business News | 27 Jun 2010 | 7:19 pm

Stocks eye jobs amid economic worries (Reuters)

Reuters - Stock investors will anxiously await the crucial June jobs data this week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.

Source: Yahoo! News: Stock Markets News | 27 Jun 2010 | 7:02 pm

Stocks eye jobs amid economic worries

NEW YORK (Reuters) - Stock investors will anxiously await the crucial June jobs data this week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.

Source: Reuters: Business News | 27 Jun 2010 | 7:02 pm

NZ Dollar Outlook: Kiwi likely to test US72c ahead of US labour data

The New Zealand dollar will likely test 72 US cents this week ahead of American employment data which is expected to show the labour force in the world's biggest economy shrank this month.Three of seven economists and strategists...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 7:00 pm

Actions more important than deficit goals: IMF chief

TORONTO (Reuters) - The head of the International Monetary Fund, Dominique Strauss-Kahn, said on Sunday the G20 nations' target to halve their deficits by 2013 was not as important as the measures they implement to reduce debt.

Source: Reuters: Business News | 27 Jun 2010 | 6:46 pm

Actions more important than deficit goals: IMF chief (Reuters)

Reuters - The head of the International Monetary Fund, Dominique Strauss-Kahn, said on Sunday the G20 nations' target to halve their deficits by 2013 was not as important as the measures they implement to reduce debt.
Source: Yahoo! News: Business News | 27 Jun 2010 | 6:46 pm

200,000 could miss home tax credit

Nearly 200,000 homebuyers could lose out on the $8,000 tax credit because they can't get deals done by the June 30 deadline.
Source: Business and financial news - CNNMoney.com | 27 Jun 2010 | 6:23 pm

World leaders walk economic tightrope in Canada (AP)

AP - Wary of slamming on the stimulus brakes too quickly but shaken by the European debt crisis, world leaders pledged Sunday to reduce government deficits in richer countries in half by 2013, with wiggle room to meet the goal.

Source: Yahoo! News: Business News | 27 Jun 2010 | 6:14 pm

Petricevic back in court amid Bridgecorp fraud claims

Disgraced Bridgecorp boss Rod Petricevic and finance director Rob Roest returned to court today on charges brought by the Serious Fraud Office relating to the fraudulent acquisition of a $1.8 million luxury vessel.The charges...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 6:00 pm

Greenpeace to fight for charitable status

Greenpeace New Zealand has gone to the High Court after it was denied charitable status by the Charities Commission.Executive director Bunny McDiarmid said Greenpeace had appealed against the commission's decision to the High...
Source: nzherald.co.nz - Business | 27 Jun 2010 | 5:54 pm

All sides claim deficit victory

The Group of 20 leading economies agreed a form of words on Sunday that allowed all sides to claim their deficit reduction strategy had won out but is likely to make little difference in practice. ...
Source: RSS feed - channel BNPaperBusiness | 27 Jun 2010 | 5:52 pm

G20 backs drive for crackdown on banks

Leaders of the world’s largest economies insisted on implementing tough capital rules, to force banks to hold sufficient buffers to guard against a future crisis
Source: Financial Times - US homepage | 27 Jun 2010 | 5:31 pm

Millions face incapacity benefit cuts as welfare reforms speed up

People claiming incapacity benefit face an onslaught from the Chancellor, who is promising to speed up his welfare reforms.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jun 2010 | 5:14 pm

Box office: 'Toy Story 3' tops solid 'Grown Ups,' soft 'Knight and Day'

It was a bad weekend for Tom Cruise at the box office, a good one for Adam Sandler, Chris Rock and Kevin James, and another great one for Pixar Animation Studios.

Source: L.A. Times - Business | 27 Jun 2010 | 4:34 pm

Burgled bullion and butlers spice up French political row (AFP)

AFP - Burgled gold bullion, an eavesdropping butler, tax evasion, a minister and the super-rich L'Oreal and Peugeot heirs: a growing political row in France has all the ingredients of a blockbuster novel.

Source: Yahoo! News: Business News | 27 Jun 2010 | 3:40 pm

Delays feared as BP relief bore nears well

Pressure from Washington has steered the energy company into a risky procedure that has no precedent at 6,060m below the surface of the Gulf of Mexico
Source: Financial Times - US homepage | 27 Jun 2010 | 3:33 pm

Fresh moves to unlock loan pool

The biggest European banks are seeking to revive the struggling wholesale finance market with a new kind of enhanced securitised product designed to attract lenders such as pension funds and hedge funds
Source: Financial Times - US homepage | 27 Jun 2010 | 3:30 pm

Private equity valuations diverge

Blackstone and TPG are providing their investors with dramatically different valuations for one of their biggest common holdings, Freescale Semiconductor, highlighting the latitude that private equity funds enjoy in preparing such estimates
Source: Financial Times - US homepage | 27 Jun 2010 | 3:08 pm

City buoyant again as business bounces

The City is anticipating its biggest bounce in business in almost two decades over the next quarter, researchers have found.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jun 2010 | 2:55 pm

UK slides in manufacturing rankings

An index that compares global manufacturing competitiveness has put the UK in 17th place, and predicted it will fall as low as 20th by 2015.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jun 2010 | 2:53 pm

G20 summit: UK banks told to boost funds by £130bn

British banks will have to bolster balance sheets by up to £130bn - equivalent to £5,200 for every UK household - under new rules.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jun 2010 | 2:09 pm

BP oil spill: Barack Obama and David Cameron agree BP must not collapse

BP must not be allowed to implode in the wake of the Gulf of Mexico oil spill disaster, Barack Obama and David Cameron have declared.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jun 2010 | 2:01 pm

Singapore aims to be derivatives clearing hub

Singapore is pushing to become an Asian hub for derivatives clearing and to poach business from Europe and the US as regulation reshapes markets. The Monetary Authority of Singapore is discussing...
Source: RSS feed - channel BNPaperBusiness | 27 Jun 2010 | 1:53 pm

Prudential denies succession planning

Prudential, the embattled insurer, has hit back at suggestions that it is instigating a boardroom shake-up with a view to replacing chairman Harvey McGrath.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jun 2010 | 1:50 pm

Dodd-Frank bill is no Glass-Steagall

Instead of the ‘formidable barrier’ set up in the 1930s, present-day financial institutions have to navigate a maze of prohibitions and exemptions that will have different effects on ­different companies
Source: Financial Times - US homepage | 27 Jun 2010 | 12:41 pm

Reliance seals mobile masts deal

Reliance Communications, Anil Ambani’s flagship company, has sold its mobile mast arm in one of the biggest mergers seen in India
Source: Financial Times - US homepage | 27 Jun 2010 | 12:40 pm

Mutual fund returns turn negative in 2nd quarter (AP)

AP - The minus signs are back.
Source: Yahoo! News: Stock Markets News | 27 Jun 2010 | 12:23 pm

National gas prices rise nearly 5 cents in 2 weeks (AP)

AP - The average price of regular gasoline in the United States has climbed nearly five cents over a two-week period to $2.76.

Source: Yahoo! News: Business News | 27 Jun 2010 | 12:22 pm

US state budget crises threaten social fabric

Crushed by the recession and falling tax revenues, the small southern California city of Maywood is disbanding its police force and firing all public sector employees
Source: Financial Times - US homepage | 27 Jun 2010 | 12:13 pm

Total moves to tighten screw on Tehran

Total has become the latest big oil company to halt petrol sales to Iran, just days before Barack Obama, US president, signs into law new sanctions targeted at Tehran’s reliance on imported petroleum
Source: Financial Times - US homepage | 27 Jun 2010 | 10:53 am

Financial Reform's Impact on Your Broker (Broker Talk)

Two takes on how reform could alter the rules of fiduciary responsibility.

Source: SmartMoney.com | 27 Jun 2010 | 9:09 am

The Problem With Giving Free Food To Hungry People

Source: NPR Blogs: Planet Money | 27 Jun 2010 | 6:47 am

Tropical Storm Alex Moves Inland, Threatens The Gulf

Alex, now a tropical storm, with sustained winds of 40 mph, moved inland on the eastern coast of Mexico, and is expected to emerge into the Gulf where warm waters could strengthen the storm. The Coast Guard said that if the storm creates gale force winds in the area around the Deepwater Horizon clean-up that [...]

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Source: 24/7 Wall St. | 27 Jun 2010 | 5:50 am

5 Funds That Reward the Risks They Take (Screens)

These funds have paid out more per risk than their competitors.

Source: SmartMoney.com | 27 Jun 2010 | 3:46 am