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Times now charging online readersThe Times becomes the biggest UK newspaper to begin charging its readers to access its online content.Source: BBC News | Business | World Edition | 2 Jul 2010 | 4:18 am Apple To Become No. 2 VOD Company In USApple Inc (NASDAQ: AAPL) is about to become the No. 2 provider of VOD services in the US based on the success of video content sales and rentals from the iTunes store. Research firm Screen Digest says that Apple should move ahead of Time Warner Cable (NYSE: TMC), and will be second only to Comcast [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jul 2010 | 4:04 am European stocks up ahead of key US jobs report (AP)
Source: Yahoo! News: Business News | 2 Jul 2010 | 4:04 am European stocks up ahead of key US jobs report (AP)
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 4:04 am Volunteers ready but left out of spill cleanup (AP)
Source: Yahoo! News: Business News | 2 Jul 2010 | 4:02 am Concerns rising that economic recovery is slowing (AP)
Source: Yahoo! News: Business News | 2 Jul 2010 | 4:02 am Pensioners 'relying on the state'A third of UK pensioners rely solely on the state for income during their retirement years, official statistics show.Source: BBC News | Business | World Edition | 2 Jul 2010 | 3:59 am Minimum wage ordered for Calif. workersSource: Business and financial news - CNNMoney.com | 2 Jul 2010 | 3:58 am Toyota recalls 270,000 vehiclesJapanese car giant Toyota recalls 270,000 cars worldwide in the latest problem to hit the manufacturer.Source: BBC News | Business | World Edition | 2 Jul 2010 | 3:58 am Toyota recalls 270,000 vehiclesJapanese car giant Toyota recalls 270,000 cars worldwide in the latest problem to hit the manufacturer.Source: BBC News | Business | World Edition | 2 Jul 2010 | 3:58 am Korean oil group in bid for DanaState-run Korea National Oil Corp makes a takeover approach for Dana Petroleum.Source: BBC News | Business | World Edition | 2 Jul 2010 | 3:56 am Australia agrees miners tax dealThe Australian government has reached a deal with mining companies over controversial tax plans.Source: BBC News | Business | World Edition | 2 Jul 2010 | 3:54 am Indications: U.S. stock futures in tight range before jobs dataU.S. stock futures held to a tight range Friday ahead of the key monthly payrolls report as traders look for confirmation of the grim economic data that’s been released this week.
Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 3:53 am Microsoft Flops: A Look Back (On the Street)The Kin is just the latest in a long line of product duds for the tech giant.
Source: SmartMoney.com | 2 Jul 2010 | 3:47 am Why Earnings Season Still Matters (Broker Talk)Two takes on what corporate results could mean for this market.
Source: SmartMoney.com | 2 Jul 2010 | 3:47 am Stock Shopping? Be Sure to Eat First (Money and Your Mind)How hunger, scents and other cues can influence your investment choices.
Source: SmartMoney.com | 2 Jul 2010 | 3:47 am Negotiating Estate Tax GridlockThere's no estate tax this year. Do you need to revise your plan?
Source: SmartMoney.com | 2 Jul 2010 | 3:47 am 10 Things the Fireworks Industry Won't Say (10 Things)Here's what you may not know about the centuries-old tradition.
Source: SmartMoney.com | 2 Jul 2010 | 3:46 am GM China Sales Top US For First TimeChina is now the largest car market in the world, having moved ahead of the US last year. Most analysts believe that 16 million cars and light trucks will be sold in the People’s Republic in 2010 while the US market will about 12 million. GM, the No.1 car company in the US and one [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jul 2010 | 3:46 am BorgWarner's Turbocharged ProspectsFuel efficiency is a driving force for this big auto supplier.
Source: SmartMoney.com | 2 Jul 2010 | 3:46 am Economic Report: Euro-zone jobless rate steady at 10%The number of unemployed workers across the 16-nation euro zone ticked higher in May, but the unemployment rate remained at a 12-year peak of 10% for a third consecutive month, the European Union statistics agency Eurostat reported on Friday.
Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 3:42 am This Week's Business Tweets: Easy Targets (Twitter Beat)Gloomy predictions from fund manager Bill Gross; Goldman on the defense.
Source: SmartMoney.com | 2 Jul 2010 | 3:31 am Public sector workers can hack it in private sectorThe chief executive of the Chartered Management Institute dispels myths about state workers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 3:30 am Dell's fresh threat from old PC failuresA six-year-old hardware meltdown that plagued millions of computers is coming back to haunt Dell.Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 3:26 am Video Game Sales Drop Moderates In May, Holidays CriticalGame and game console sales have been extremely weak for a year-and-a-half as the recession sapped demand for consumer electronic devices. This has not been offset by price cuts for the Sony (NYSE: SNE) PS3. the Microsoft (NASDAQ: MSFT) Xbox 360, or Nintendo (OTC:NTDOY)Wii. Recently all three companies upgraded the features of their consoles to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jul 2010 | 3:24 am GM says China sales overtake US for first time (AP)AP - General Motors Co. says its first-half sales of vehicles in China overtook the U.S. for the first time amid a fitful recovery in American demand.Source: Yahoo! News: Business News | 2 Jul 2010 | 3:19 am Tall tales your contractor tellsEven honest contractors occasionally play a bit fast and loose with the truth. All tradesmen are looking to maximize profits and minimize hassle -- and that can end up costing you extra money. So don't take everything a contractor says as gospel, says David Fogt, chief of enforcement for the California Contractors State License Board. Try these strategies to neutralize three classic fibs without harming your working rapport.Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 3:17 am China says 2009 growth even faster than thought (AP)
Source: Yahoo! News: Business News | 2 Jul 2010 | 3:16 am Stocks await jobs reportU.S. stock futures drifted early Friday, as nervous investors awaited a government jobs report that is expected to show the economy lost jobs last month.Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 3:09 am Walt Disney, Jobs On Its Board, Buys iPhone App CompanySteve Jobs, the CEO of Apple Inc. (NASDAQ: AAPL), sits on the board of The Walt Disney Company (NYSE: DIS) That means the entertainment company is aware of the power of Apple’s applications software distribution system on the iPhone, iPad and iPod. Disney announced yesterday that it will buy iPhone game supplier firm Tapulus which [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jul 2010 | 3:05 am Bargain-hunters emerge ahead of jobs dataGlobal Markets Overview: Timid ‘bargain hunting’ of riskier assets is under way as traders await important US jobs data and assess a slew of recent data that suggest recovery is falteringSource: Financial Times - US homepage | 2 Jul 2010 | 3:03 am Rising U.S. Debt Brings Catcalls but No Savings (By the Numbers)Hough: A new federal estimate may underestimate our liability.
Source: SmartMoney.com | 2 Jul 2010 | 3:01 am FTSE 100 subdued ahead of US jobs reportThe FTSE 100 edged higher on Friday, after sharp falls the previous day, as investors awaited key US jobs data for an update on the health of the world's biggest economy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 2:58 am London Markets: Commodity-sector firms advance in LondonLONDON (MarketWatch) -- Resource shares buoyed the British market on Friday, with bid speculation and changes to Australia's controversial proposed mining tax helping the commodity sector.
Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 2:48 am Graduates 'vulnerable to cuts'Graduate unemployment could hit record levels due to planned public spending cuts, a research body warns.Source: BBC News | Business | World Edition | 2 Jul 2010 | 2:47 am GE’s Immelts Attacks China And Obama, Company Disavows CommentsGE (NYSE: GE) CEO Jeff Immelt, speaking at a business gathering in Italy savaged China and President Obama. In an unusual move, GE said that Immelt’s comments did not reflect the views of the company. That should not be a surprise given the extent to which Immelt attacked both the President and the People’s Republic. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jul 2010 | 2:46 am Spain jobless claims fall a third straight monthJobless claims in Spain fell by 83,834 in June, down 2.1% on the prior month and the third straight monthly decline, according to the Ministry of Employment.
Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 2:41 am World stocks gain as U.S. jobs data aheadLONDON (Reuters) - World shares eked out gains for only the second time in nine sessions on Friday but the rise was likely to be contingent on key U.S. jobs data due later.
Source: Reuters: Business News | 2 Jul 2010 | 2:24 am Should execs be paid with debt? No!As investigators comb through the wreckage of the financial meltdown, one fact remains clear and startling: Credit default swaps and collateralized debt obligations, as well as debt and equity from large financial firms were useless as indicators of fiscal health. One of the biggest revelations has been the utter failure of markets to capture the relevant information required to set accurate prices on securities.Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 2:24 am Kwik-Fit sells off insurance firmThe owners of Kwik-Fit agree a deal to sell the car repair chain's insurance arm to Belgian insurer Ageas for £215m.Source: BBC News | Business | World Edition | 2 Jul 2010 | 2:24 am Oil hovers near $73 as traders eye US jobs report (AP)
Source: Yahoo! News: Business News | 2 Jul 2010 | 2:22 am Jobs outlook: Loss of 100,000A couple of months ago, a recovery in the U.S. labor market seemed to be at hand. That hope has proved as fleeting as a job with the Census Bureau.Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 2:22 am Australia strikes compromise tax deal with minersCANBERRA (Reuters) - Australia ended a damaging dispute with global miners on Friday by dumping its planned "super profits" tax for a lower resources rent tax backed by big miners, clearing a major hurdle to calling an early election.
Source: Reuters: Business News | 2 Jul 2010 | 2:21 am BP oil spill: Italy drilling ban hits UK-listed explorerItaly's plan to restrict drilling offshore after BP's catastrophic oil spill may cause difficulties for UK-listed Mediterranean Oil & Gas.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 2:16 am Bid activity energises mid-cap oil stocksBid activity provided the main talking point on London's equities market on Friday, while traders awaited US jobs data to test a tentative rally from 10-month lows. Oil explorer Dana Petroleum...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 2:05 am Media Digest 7/2/2010Reuters: Maria Cantwell (D-WA) will support the Senate financial reform bill, giving Democrats a boost. Reuters: Automakers had a setback in June, an indication that the industry is facing slow growth. Reuters: The House passed a bill to extend jobless benefits, but the Senate may reject it. Reuters: Walt Disney (NYSE: DIS) bought Apple Inc. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Jul 2010 | 2:02 am Beleaguered Toyota to recall 270,000 cars globally (AP)
Source: Yahoo! News: Business News | 2 Jul 2010 | 1:59 am Stock index futures mixed ahead of payrolls (Reuters)
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 1:58 am Stock index futures mixed ahead of payrollsNEW YORK (Reuters) - Sstock index futures pointed to a mixed open on Wall Street on Friday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures down 0.12 percent and Nasdaq 100 futures up 0.03 percent at 0745 GMT.
Source: Reuters: Business News | 2 Jul 2010 | 1:58 am Google to buy travel data giant for $700 millionGoogle on Thursday announced it will buy online travel software company ITA Software for $700 million cash, a move the search giant hopes will boost its visibility in the highly competitive airfare market.Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 1:57 am 3 pillars of Google's expansionSource: Business and financial news - CNNMoney.com | 2 Jul 2010 | 1:56 am Currencies: Aussie dollar rises on tax news; China yuan soarsThe Australian dollar rose Friday after the Australian government announced a deal with the mining industry on a controversial resource-tax plan.
Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 1:55 am Europe Markets: Europe shares edge off five-and-a-half week lowsMiners and automakers helped European shares climb from multi-week lows on Friday, although gains were limited ahead of key U.S. jobs data.
Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 1:51 am Australia’s PM waters down mining taxJulia Gillard, Australia’s new prime minister, has caved in to the demands of the powerful mining industry and watered down the controversial resources super tax as she prepares for a federal election as early as AugustSource: Financial Times - US homepage | 2 Jul 2010 | 1:44 am FTSE index climbs in early trade (AFP)
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 1:31 am Death to marketsDo chart readings of stock markets now spell doom?Source: BBC News | Business | World Edition | 2 Jul 2010 | 1:25 am Traders toy with risk before US jobs dataFriday 08:00 BST. Timid "bargain hunting" of riskier assets is under way as traders await important US jobs data and assess the damage from a week battered by fears that global economic growth is slowing...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:25 am No bucks, no boom for the FourthExpect fewer booms this July Fourth because of financial busts in some cities and towns. As many folks pack up picnics and head to see the fireworks this holiday weekend, the skies over...Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 1:16 am Volunteers ready but left out of spill cleanupBP and the Obama administration face mounting complaints that they are ignoring foreign offers of equipment and making little use of the fishing boats and volunteers available to help cleanSource: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 1:15 am No bucks, no boom for Fourth of JulyExpect fewer booms this July Fourth because of financial busts in some cities and towns. As many folks pack up picnics and head to see the fireworks this holiday weekend, the skies over...Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 1:13 am Changing TimesWill paywalls save the newspaper industry?Source: BBC News | Business | World Edition | 2 Jul 2010 | 1:13 am Business Bullet: US payroll, Australia, BP, MobilesThe latest news on: US payroll, Australia, BP, MobilesSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 1:05 am Farmers defend way of life with Facebook, TwitterWhen a video of dairy cows being abused was released by an animal rights group, it generated the expected angry responses. But it also raised a stir among farmers who fought back in kindSource: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 1:04 am Economic rebound may be losing ground, data showHome and car sales fall. Manufacturing may be losing steam. But most experts don't see a double dip looming.A fresh batch of weak economic news Thursday heightened concerns about the staying power of the fledgling recovery, with more uninspiring news expected Friday when the government reports on the May job market.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am Local.com acquires online marketing start-up Octane360Irvine-based Internet search engine Local.com Corp. said Thursday that it had acquired Octane360, a Los Angeles technology start-up that specializes in online marketing for small businesses and Web domain owners.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am Goldman Sachs execs defend pursuit of payments from AIGGoldman's push to recover all it was owed on credit default swaps cost taxpayers billions, Financial Crisis Inquiry Commission members say. Executives say Goldman would have received what was due in any case.Executives at Goldman Sachs Group Inc. on Thursday defended the investment bank's aggressive pursuit of billions of dollars in payments from American International Group Inc. in 2008, which critics said added to the deep financial problems of the insurance giant and led to a $182-billion federal bailout.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am Local.com acquires online marketing start-up Octane360Irvine-based Internet search engine Local.com Corp. said Thursday that it had acquired Octane360, a Los Angeles technology start-up that specializes in online marketing for small businesses and Web domain...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am Mortgage rates this week hit record lowsThe average 30-year fixed rate falls to 4.58% from 4.69% last week, while the 15-year fixed rate slides to 4.04% from 4.13%. The drops follow the decline of Treasury yields. ...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am Auto sales in U.S. down 10.8% in June from MayAuto industry sold 983,738 vehicles last month, fewer than many were predicting but up 14.4% from June 2009. ...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am Free, unlimited Wi-Fi policy begins at StarbucksTed Thompson, a civil engineer from Santa Clarita, likes his coffee without Internet.Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am Watching a big bet on box-office futures go sourRichard Jaycobs invested several years and millions of his company's dollars creating a market for trading futures contracts based on movie ticket sales, but Congress appears likely to kill the plan. ...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am 'Toy Story 3' flops in RussiaThe blockbuster has surprisingly frigid box-office results in one of the hottest international markets for animated movies. ...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am Goldman Sachs execs defend pursuit of payments from AIGGoldman's push to recover all it was owed on credit default swaps cost taxpayers billions, Financial Crisis Inquiry Commission members say. Executives say Goldman would have received what was due in any...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am Assembly passes bill providing overtime pay for farmworkersThe measure faces an uncertain fate with Gov. Schwarzenegger, who has a mixed record on agricultural labor issues. He has not made up his mind on it, a spokesman said.The state Assembly, in a historic vote Thursday, passed and sent to the governor a bill to give California farmworkers the same rights to overtime pay as millions of other hourly employees have.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am Economic rebound may be losing ground, data showHome and car sales fall. Manufacturing may be losing steam. But most experts don't see a double dip looming. A...Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 1:00 am Mortgage rates this week hit record lowsThe average 30-year fixed rate falls to 4.58% from 4.69% last week, while the 15-year fixed rate slides to 4.04% from 4.13%. The drops follow the decline of Treasury yields.Mortgage rates sank to fresh record lows this week, following the trajectory of Treasury yields depressed by economic worries.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am Free, unlimited Wi-Fi policy begins at StarbucksTed Thompson, a civil engineer from Santa Clarita, likes his coffee without Internet.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am Auto sales in U.S. down 10.8% in June from MayAuto industry sold 983,738 vehicles last month, fewer than many were predicting but up 14.4% from June 2009.The recovery of the auto industry may be heading for a detour.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am Northrop Grumman wins contract to turn unmanned spy plane into refueling tankerThe firm will receive $33 million from the Pentagon to retrofit the Global Hawk, which is used for reconnaissance above Iraq and Afghanistan, to carry extra fuel for other unmanned spy planes.Northrop Grumman Corp. has been awarded a $33-million Pentagon contract to transform its unmanned, long-range spy plane into a roving robotic aerial refueling tanker.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am 'Toy Story 3' flops in RussiaThe blockbuster has surprisingly frigid box-office results in one of the hottest international markets for animated movies.Russians love Shrek. And Russians love the acorn-obsessed squirrel Scrat from "Ice Age." But Russians aren't showing a lot of love for Buzz and Woody.
Source: L.A. Times - Business | 2 Jul 2010 | 1:00 am UK's Chloride accepts Emerson's takeover bidBritish power supply company Chloride Group has accepted an improved takeover bid from a U.S. competitor, Emerson Electric Co. Chloride said Friday that its board unanimously recommendedSource: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 12:49 am Toyota plans recall which may cost $228 million: paperTOKYO/DETROIT (Reuters) - Toyota Motor Corp may recall up to 270,000 vehicles worldwide to fix an engine glitch, with Japan's Asahi newspaper reporting the move could cost the car maker up to 20 billion yen ($228 million).
Source: Reuters: Business News | 2 Jul 2010 | 12:34 am Asia investors wary ahead of US jobs reportMost Asian stock markets posted losses on Friday as investors awaited a crucial reading on the US jobs market that comes amid signs economic recovery is losing momentum around the world.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 12:10 am Asia stocks mostly down ahead of US jobs reportMost Asian stock markets posted losses Friday as investors awaited a crucial reading on the U.S. jobs market that comes amid signs economic recovery is losing momentum around the world. ...Source: RSS feed - channel BNewsBusiness | 1 Jul 2010 | 11:45 pm Currency: NZ dollar makes gainsAfter dipping below US68c for the first time in three weeks the New Zealand dollar finished the week back above US69c.It was at US69.40c at 5pm today from US69.02c at 8am and US68.10c at 5pm yesterday. It fell to US67.91c on Thursday...Source: nzherald.co.nz - Business | 1 Jul 2010 | 11:38 pm Kiwibank calls for compulsory KiwiSaver membershipThe boss of state-owned Kiwibank wants people to be compelled to join KiwiSaver, with individual contributions rising gradually over the next decade or two to reach 10 per cent of income.With employers also providing 10 per cent,...Source: nzherald.co.nz - Business | 1 Jul 2010 | 11:24 pm Automakers see no sign of expected recoveryDETROIT (Reuters) - U.S. auto sales slipped in June from the previous month and major automakers said there was no sign of the second-half recovery the battered industry had expected at the start of the year.
Source: Reuters: Business News | 1 Jul 2010 | 11:22 pm Automakers see no sign of expected recoveryDETROIT (Reuters) - U.S. auto sales slipped in June from the previous month and major automakers said there was no sign of the second-half recovery the battered industry had expected at theSource: RSS feed - channel BNewsBusiness | 1 Jul 2010 | 11:22 pm Census jobs seen depressing U.S. employment in JuneWASHINGTON (Reuters) - U.S. employment likely contracted for the first time this year in June as thousands of temporary jobs for census workers ended, though private-sector hiring probably picked up, according to a Reuters survey.
Source: Reuters: Business News | 1 Jul 2010 | 11:22 pm DEALTALK-Australia mining tax deal seen unlocking M&A pipelineSYDNEY, July 2 (Reuters) - The Australian government's compromise mining tax deal is expected to unlock a stalled pipeline of mergers and acquisitions in the booming resources sector, although some political...Source: RSS feed - channel BNewsBusiness | 1 Jul 2010 | 11:14 pm Oil rises above $73 as traders eye US jobs reportOil prices rose above $73 a barrel Friday in Asia, gaining back a little of the previous session's big loss, as investors look to the monthly U.S. jobs report for clues about the strength...Source: RSS feed - channel BNewsBusiness | 1 Jul 2010 | 10:26 pm Avandia: When does a drug's harm outweigh its benefit?Risks from the diabetes drug Avandia are no surprise to regulators. In 2007 an independent panel said Avandia could boost the risk of heart attack but recommended to the FDA that it stay on the market.It's scary enough that a widely prescribed diabetes drug, Avandia, was shown in new studies this week to pose a substantially greater risk of heart attacks for users.
Source: L.A. Times - Business | 1 Jul 2010 | 10:26 pm Asia Markets: Japanese auto-maker shares track U.S. sales dataU.S. auto sales for June reveal the disappointing performances of some Japanese car makers, whose shares lag the broader market as a result.
Source: MarketWatch.com - Top Stories | 1 Jul 2010 | 10:06 pm Concerns rising that economic recovery is slowingConcerns are rising that the economic rebound is stalling, but a strong jobs report on Friday would go a long way toward assuaging those fears. Conversely, a report showing private...Source: RSS feed - channel BNewsBusiness | 1 Jul 2010 | 10:03 pm Jon Friedman's Media Web: Chaos News Network, where turmoil reignsCNN is a mess -- and it’s the task of the network’s U.S. President Jon Klein’s job to fix it. Somehow, writes Jon Friedman.
Source: MarketWatch.com - Top Stories | 1 Jul 2010 | 10:01 pm John Prestbo's Indexed Investor: Global stock markets pay heavy toll in first halfWhen the market executes an about-face, almost every niche and nook is affected. Sometimes, like this year, it can be a painful experience.
Source: MarketWatch.com - Top Stories | 1 Jul 2010 | 10:01 pm Al Lewis: Song remains the same for the economySing along with President Obama: "The economy is getting stronger by the day. The economy is getting stronger by the day. The economy..."
Source: MarketWatch.com - Top Stories | 1 Jul 2010 | 10:01 pm Aussie changes to company tax rates good for NZNew Zealand's company tax rate will be two cents lower than Australia's next year, after new Australian Prime Minister Julia Gillard today said the rate would be cut to 29 per cent by 2013-14 but would not be further reduced.Ms...Source: nzherald.co.nz - Business | 1 Jul 2010 | 8:30 pm Rents will rise as house prices fall, says WestpacHouse prices will fall gently for the next two years before levelling out, but rents will rise because property investment is now returning less because of the October personal tax cuts, says Westpac in its latest housing market update.And...Source: nzherald.co.nz - Business | 1 Jul 2010 | 8:00 pm Amazon cuts big Kindle priceIn its latest move in the e-reader wars, Amazon slashed the price on the supersize version of its Kindle by more than $100 on Thursday.Source: Business and financial news - CNNMoney.com | 1 Jul 2010 | 7:51 pm Mini Cooper alternativesThe Mini's great, but these days there are lots of cars that can give you coolness with a small size and price.Source: Business and financial news - CNNMoney.com | 1 Jul 2010 | 7:50 pm Holdout senator says she will vote for reformThe Wall Street reform bill appears destined for final passage after Maria Cantwell, one of two Democratic senators to have opposed the legislation, says she will now back itSource: Financial Times - US homepage | 1 Jul 2010 | 7:13 pm House ethics committee clears California lawmaker (AP)AP - The House ethics committee cleared Democratic Rep. Laura Richardson of California of wrongdoing Thursday in the foreclosure of her Sacramento property, saying she did not receive preferential treatment from a lender.Source: Yahoo! News: Business News | 1 Jul 2010 | 7:08 pm BOJ likely to revise up Japan economic forecast: reportTOKYO (Reuters) - The Bank of Japan is expected to revise up its economic forecast for the year to March 2011 at its next policy meeting on July 14-15, the Nikkei newspaper reported on Friday.
Source: Reuters: Business News | 1 Jul 2010 | 7:07 pm Australia drops mining taxAustralia's government has dropped plans for 40 per cent tax on booming mining company profits, defusing a damaging row with big business and clearing the way for national elections to be called at any time.European mining company...Source: nzherald.co.nz - Business | 1 Jul 2010 | 7:00 pm June nonfarm jobs seen falling 110,000 on censusNEW YORK (Reuters) - U.S. jobless numbers likely fell in June for the first time this year, a Reuters poll showed. The key monthly unemployment report will be released on Friday.
Source: Reuters: Business News | 1 Jul 2010 | 6:55 pm Ariz. lawmaker: Cuts a must without stimulus cash (AP)AP - Congress' rejection of proposed additional stimulus funding for states means Arizona would have to resort to painful budget cuts thought to be have been averted when voters approved a temporary sales tax increase, a key legislator said Thursday.Source: Yahoo! News: Business News | 1 Jul 2010 | 6:04 pm Three deny links to Russian intelligenceThree people accused of working for Russian intelligence insisted on their innocence in a Manhattan courtroom, even as the US government elaborated its case against themSource: Financial Times - US homepage | 1 Jul 2010 | 5:28 pm Tate & Lyle cuts its ties with the sugar cube its founder brought to BritainTate & Lyle has cut its ties with the sugar industry, 135 years after its founder Henry Tate brought the sugar cube to Britain.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jul 2010 | 5:24 pm Blockbuster wins debt reprieve, but forced to delist (Reuters)Reuters - Blockbuster Inc stayed a step ahead of bankruptcy after winning a crucial one-month reprieve on debt payments, but was forced to begin the process of delisting from the New York stock exchange.Source: Yahoo! News: Stock Markets News | 1 Jul 2010 | 5:23 pm Blockbuster wins debt reprieve, but forced to delistLOS ANGELES (Reuters) - Blockbuster Inc stayed a step ahead of bankruptcy after winning a crucial one-month reprieve on debt payments, but was forced to begin the process of delisting from the New York stock exchange.
Source: Reuters: Business News | 1 Jul 2010 | 5:23 pm Scary (But True) Facts About Wal-MartEven though home owners are still struggling with fallen home prices, pesky home loans, and consumer spending isn’t where we’d like it to be, that hasn’t stopped Wal-Mart from reclaiming the top spot on the Fortune 500 list. Here’s a look at some startling facts about the unstoppable retailer.
[Source: Home Loans]
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Source: Business Pundit | 1 Jul 2010 | 5:06 pm NZ sharemarket flat earlyThe New Zealand sharemarket was flat in early trading after weak United States manufacturing, labour market and home sales data heightened fears of a double-dip recession in the US.Around 10.15am the benchmark NZX-50 index was...Source: nzherald.co.nz - Business | 1 Jul 2010 | 5:02 pm Cyprus hunts for alleged Russian spy paymaster (AP)
Source: Yahoo! News: Business News | 1 Jul 2010 | 4:53 pm Ocado's flotation: online grocer 'won't be in profit until 2014', adviser saysOnline retailer won't make a penny of profit until 2014, says downbeat analysis from a bank advising Ocada.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jul 2010 | 4:37 pm United Rusal May Offer ETF This Month: AudioSource: Bloomberg - All Podcasts | 1 Jul 2010 | 4:35 pm Look out BP, the vuvuzelas are comingWASHINGTON - A US video producer is raising money to have 100 people play the horns which have provided the World Cup soundtrack outside BP's headquarters in London to protest the oil spill in the Gulf of Mexico.Adam Quirk, of...Source: nzherald.co.nz - Business | 1 Jul 2010 | 4:30 pm BT may prove a winner but it's loyal Sky subscribers will pay the priceBT Vision's announcement that it is to offer Sky Sports 1 for £6.99 a month - will have had tight-fisted football fans doing celebration dances that England's World Cup campaign so sadly lacked. After all, BSkyB's basic price for Sky Sports is £35 a month.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jul 2010 | 4:27 pm Stocks take slide into 3rd quarter on job worries (AP)AP - NEW QUARTER, SAME STORY: The stock market opened the third quarter by falling again, this time on disappointing reports on jobs, housing and manufacturing.Source: Yahoo! News: Stock Markets News | 1 Jul 2010 | 4:16 pm Write-Offs: 07.01.10
$$$ Jamie Dimon’s summer reading list [BI] $$$ Local Actress Catches Break Thanks To Russian Spy [DI] $$$ Phil Angelides: Goldman Sachs’ Credibility in Question [CNBC]
 Source: Dealbreaker | 1 Jul 2010 | 4:10 pm Apple targets on-demand film marketThe group’s iTunes store, which sells movies to buy or rent electronically, has grown faster than video-on-demand services operated by Comcast and Time Warner CableSource: Financial Times - US homepage | 1 Jul 2010 | 4:01 pm Job worries hurt stocks at start of 3rd quarter (AP)
Source: Yahoo! News: Stock Markets News | 1 Jul 2010 | 3:56 pm How the major stock indexes fared on Thursday (AP)AP - Stocks began the third quarter with another loss after reports on jobs, housing and manufacturing raised investors' economic worries. The Dow Jones industrial average fell nearly 42 points Thursday for its sixth straight loss, although it ended well off its lows ahead of the government's June jobs report Friday.Source: Yahoo! News: Stock Markets News | 1 Jul 2010 | 3:38 pm Market welcomes chance to get a bite of the dairy sectorLandmark changes at Fonterra which will give investors an opportunity to take part in the country's biggest company will get a warm welcome from the market, say fund managers.Dairy farmer owners of Fonterra, which posted revenue...Source: nzherald.co.nz - Business | 1 Jul 2010 | 3:30 pm Toyota to recall 270,000 Lexus carsThe carmaker is to recall the luxury cars after it discovered that a key component in their engines was susceptible to cracking, a problem the company says could cause the vehicles to stallSource: Financial Times - US homepage | 1 Jul 2010 | 3:29 pm `Dead Cross,’ Metals Deflation, U.S. Jobs, Housing: TakingStockSource: Bloomberg - All Podcasts | 1 Jul 2010 | 3:28 pm US collects $10.3bn from Citi bail-outThe US government has collected more than $10bn in cash, dividends and securities from its bail-outs of Citigroup – a sign that the financial sector’s quick rebound from the crisis is helping the authorities to make money on its rescue programmesSource: Financial Times - US homepage | 1 Jul 2010 | 3:21 pm Truvo, AbitibiBowater: Bloomberg Law Bankruptcy ReviewSource: Bloomberg - All Podcasts | 1 Jul 2010 | 3:10 pm NZ dollar gains against greenback hit by poor US dataAfter dipping below US68c for the first time in three weeks yesterday, the New Zealand dollar made up some lost ground overnight against a greenback weakened by data that heightened worries the United States economic recovery is stalling.Around...Source: nzherald.co.nz - Business | 1 Jul 2010 | 3:00 pm Westin collapse hits Asian investorsForeign investors are the biggest losers in the collapse of The Westin Auckland Hotel management business.About 100 Asian buyers poured millions into the ritzy waterfront five-star property where Lighter Quay Hotel Management,...Source: nzherald.co.nz - Business | 1 Jul 2010 | 3:00 pm Google To Buy ITA Software, Rule E-commerce Travel Business: Watch For Justice Department ReviewGoogle Inc. (NASDAQ: GOOG) will try to dominate the online e-commerce travel market the way it has come to dominate cellphone operating systems with its Android product. In other words, it is impossible to tell whether its buyout for ITA Software will ever bear fruit financially. The price is $700 million. ITA is an important [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jul 2010 | 2:30 pm Jobs Picture Stalls Employment Stocks (On the Street)Recent data hurt firms tied to temp work, recruitment and payrolls.
Source: SmartMoney.com | 1 Jul 2010 | 2:17 pm Presented By:Source: Dealbreaker | 1 Jul 2010 | 2:15 pm Someone Bid On Damien Hirst’s Pink Audi A1 For $525,000
Source: Dealbreaker | 1 Jul 2010 | 2:15 pm Unlike its upmarket food, Ocado's float will need to be priced to goIt has been hard to hear a bearish view of Ocado, the online grocer, outside the pages of one or two newspapers, including this one.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jul 2010 | 2:08 pm Dupree Comments on Kagan Supreme Court Nomination: BLAWSource: Bloomberg - All Podcasts | 1 Jul 2010 | 1:55 pm British households face second credit crisis, official survey warnsHouseholds must brace themselves for a return of the credit squeeze, with mortgages far harder to procure, new Bank of England research shows.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 1 Jul 2010 | 1:50 pm Immelt hits out at China and ObamaThe GE chief executive launched a rare broadside against the Chinese government, which he accused of being increasingly hostile to foreign multinationals, and President Obama for the ‘terrible’ mood in the USSource: Financial Times - US homepage | 1 Jul 2010 | 1:33 pm ECB grants banks €111bn in fundingThe European Central Bank avoids massive disruption as eurozone banks repay a record €442bn, but demand for shorter-term liquidity still points to significant strainsSource: Financial Times - US homepage | 1 Jul 2010 | 1:00 pm For $3,860, A New Life
Adam Davidson/NPR
Yvrose Jean Baptiste stands in her new shop. Before the earthquake, Yvrose Jean Baptiste would travel to the Dominican Republic, buy as much food as she could carry back, and sell it to shopkeepers in Haiti's capital. The earthquake destroyed all of her stock and killed many of the customers who owed her money. When I met her in February, she had nothing but a tub full of chicken necks she was selling for a few pennies each. The next day, she had to make a $100 payment to the bank. Here's what happened to her since then. After a story about Yvrose aired on NPR, a few dozen listeners sent money to her account at Fonkoze, a nonprofit financial institution in Haiti. Some sent $20, some $100. One day in March, Yvrose went in and withdrew it all — $3,860. Even before the earthquake, it would have taken her years to earn that much money. "It was the first time I held this amount of money in my hands," she says. She's paying for her four kids to go to school in the countryside, where they live with relatives. She paid off her debt, and put some money in the bank for safe keeping. The rest, she invested in her business. Source: NPR Blogs: Planet Money | 1 Jul 2010 | 12:57 pm Goldman says claims against AIG were legitimateWASHINGTON (Reuters) - Goldman Sachs officials insisted demands for billions of dollars from insurer AIG ahead of a $182-billion government rescue package were based on legitimate market prices and denied gaming values for a massive payout.
Source: Reuters: Business News | 1 Jul 2010 | 12:56 pm Submit Your Questions for the Twitter GuysNext week, we'll be in Colorado for the Aspen Ideas Festival. Kai Ryssdal will be talking with Twitter founders Evan Williams and Biz Stone. If you have a question that you'd like us to ask during our interview submit it via Twitter. Just include the hashtag #Q4Twitter so we can find it. If you're not on Twitter, you can also post your question as a comment.Source: Marketplace | 1 Jul 2010 | 12:44 pm Please Do Not Forget The Matter Of Utmost Importance Today
 Another nom  One of the nominees (an Amaranth alum, natch) Help me help you. Send your favorite hedge fund IR dime piece here.
Source: Dealbreaker | 1 Jul 2010 | 12:35 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 | 1 Jul 2010 | 12:34 pm Medical Billing, A President's Cousin, And The Pain-In-The-Butt IndexJuly 1, 2010 Every morning at 6 a.m., a mail truck arrives outside the headquarters of athenahealth. The truck is filled with other people’s hassles: box after box of medical bills and paperwork. Jonathan Bush, the company's CEO, got into the health-care business in 1997, when he became co-owner of a birthing center. But he quickly figured out what doctors and hospitals already knew. Getting paid is a huge pain. These days, athenahealth processes about $1 billion a year in paper checks. Some are hand-written checks from patients. But a lot of checks come from insurance companies. Source: NPR Blogs: Planet Money | 1 Jul 2010 | 12:34 pm Dialing in on how to turn around SprintA few years ago, Dan Hesse was hired to turn things around at Sprint, which lost millions of customers and billions of dollars after network problems and customer service complaints following a merger with Nextel. Hesse talks with Kai Ryssdal about how he plans to get all those customers back.Source: Marketplace | 1 Jul 2010 | 12:24 pm Summer Reading: Gustavo ArellanoSouthern California has always been a place of mythologies. It's the epicenter of kink and corruption in the hard-boiled novels of Raymond Chandler. It's the epitome of vapid phoniness in many Hollywood movies. What we have next is a historical look of the famed So Cal, in commentator Gustavo Arellano's summer reading pick.Source: Marketplace | 1 Jul 2010 | 12:24 pm Why can't I get health insurance?!New high-risk insurance pools will mean people who were denied health-care insurance because of preexisting conditions will now have access to coverage. And that means fewer calls like these. From the Upright Citizens Brigade Theater, comedy sketch group "Nice Kitchen" performs.Source: Marketplace | 1 Jul 2010 | 12:24 pm Germans feel burden of Europe's debtGerman exports have surged this year compared to 2009, business confidence is up, and several think-tanks have raised the country's growth forecasts. So German policymakers and economists are cautiously optimistic. But the little guy isn't feeling as good. Why? Kyle James reports.Source: Marketplace | 1 Jul 2010 | 12:24 pm More folks opt-in to overdraft protectionStarting today for new account holders, and next month for everybody else, if you try to buy something with your debit card and don't have enough money in your checking account to cover it, your card will be rejected. No more $35 overdraft fee -- unless you opt-in to overdraft protection. Stacey Vanek-Smith reports.Source: Marketplace | 1 Jul 2010 | 12:24 pm High-risk pools may not help everyoneOne of the first pieces of the health-care reform law went into effect. The law establishes temporary, high-risk insurance pools for people who can't get insured because of preexisting conditions. Some of those pools started taking applications. Nancy Marshall Genzer reports.Source: Marketplace | 1 Jul 2010 | 12:24 pm Is the recovery at a typical pause?We've gotten a raft of bad economic news recently -- manufacturing growth has slowed, pending home sales are down. So is the recovery pausing to catch its breath? Or is this the fragile U.S. economy gasping for air? Jeff Horwich reports.Source: Marketplace | 1 Jul 2010 | 12:24 pm America Hates Three Things
Source: Dealbreaker | 1 Jul 2010 | 12:20 pm Fears mount over slowing global demandA slew of manufacturing data, particularly from China, shows production expanding at a slower rate, fueling concern about the momentum of global recoverySource: Financial Times - US homepage | 1 Jul 2010 | 12:14 pm China Kicks Off Hunt for Shale GasSinopec, officially China Petroleum & Chemical Corp. (NYSE:SNP), has initiated a program to evaluate shale gas deposits in the southern part of the country. Estimates of the size of the potential resource are about 900 trillion cubic feet, more than 9 years total demand at current Chinese usage. The company hopes to produce about 88 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jul 2010 | 12:13 pm Harvard Grad Guns for Frank Financial Answers (Tradecraft)Hoenig: Joel Pollak, who chided Barney Frank in '09, is running for Congress.
Source: SmartMoney.com | 1 Jul 2010 | 12:04 pm UPS Raised to `Buy', Lions Gate Cut to `Hold': AudioSource: Bloomberg - All Podcasts | 1 Jul 2010 | 11:49 am Book Review: Wired for Work
Most Internet users find Facebook, LinkedIn, and Twitter pretty intuitive. Sign up, make connections, comment, respond. If you need extra tips, they’re readily available online. There are, however, some users who are unfamiliar with social networking websites, and prefer to learn about them by reading a book on how to use them. Author and publisher Steve Weber has created just that kind of book. In Wired for Work: Get a Job Fast Using LinkedIn, Facebook or Twitter, he details how to use LinkedIn, Facebook, and two other networks for finding a job. Wired for Work is a brief, informative guide on how to use popular online networking tools to find job opportunities and get hiring managers to notice you. In a little over 100 pages, Wired for Work introduces you to social networking for your career, using LinkedIn, Twitter, Facebook, and MySpace for job hunts, and common legal issues. Weber provides basic details about each of the four networking websites mentioned above. He holds your hand through the process of signing up, building your network, using its features, and other essentials. He mixes in the occasional screenshot and success story to make things more understandable. He also adds little tricks you may not have heard about before, if you’re already familiar with the software (for example, I didn’t know that I could put my Amazon reading list on LinkedIn). The first and last chapters don’t show you how to use a social networking site, but offer other useful information. Chapter 1 gives a good overview of where we are now vis a vis social networking for your career. You learn details on avoiding scams and a little bit about personal branding. The last chapter covers common legal issues like copyright, defamation, and trademarks. This simple, easy-to-understand book is laid out the way a lot of online writing is, with subtitles, bullet lists, and boldfaced points. In fact, you can read an online PDF version for free here. In sum, I’d call it a quick and dirty guide to basic social networking for job hunters. The book targets anyone who’s not familiar with today’s social networking technology, specifically Facebook, Twitter, LinkedIn, and MySpace. I’m not sure why the author included MySpace—maybe he should include a disclaimer that it’s not as big (at least for non-musicians) as those other websites. I breezed through it and, as an experienced user of all the sites he mentioned, found Weber’s information thorough. I wouldn’t hesitate to give it to someone unfamiliar with modern gadgets or computers, eg. my mother-in-law.
Source: Business Pundit | 1 Jul 2010 | 11:10 am Uncle Sam’s War Against PROVENGE Gets Nasty (DNDN)If there is one single sector which could be immune to the crummy jobs data, it is biotech. Just don’t look at Dendreon Corporation (NASDAQ: DNDN) for much warmth today. There is not any new negative news on PROVENGE accounting for the big drop. Dendreon’s decline today is over potential reimbursement rate wars from Uncle [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jul 2010 | 10:41 am FTSE dives on back of worse than feared US data (AFP)
Source: Yahoo! News: Stock Markets News | 1 Jul 2010 | 10:10 am The Rupee Will Get Its Own Symbol. Eventually.by Jacob Goldstein 
Times of India
One of these will be the new symbol for the rupee. A while back, India's government decided the country's currency needed its own symbol — so it could stand proudly alongside the $, ¥, £ and €. But coming up with a symbol is taking a while. The government announced a contest to create the symbol in February of '09, with an entry deadline of April 15th of last year. In December, the government published a list of five finalists. The cabinet was supposed to choose the winner last week, but the Finance Minister asked for more time to review the finalists, according to the Times of India. For more on India's bureaucracy: Listen to our podcast, 'In Search Of The Red Tape Factory' Source: NPR Blogs: Planet Money | 1 Jul 2010 | 10:09 am Commodity Shipping Continues Declining (DRYS, GNK, DSX, SEA, FRO, TK)The Baltic Dry Index, which tracks global shipping rates, has fallen for 24 consecutive days, its longest losing streak since August 2005. The BDI closed at 2,406 yesterday, its lowest point since last October. As shipping rates fall, dry bulk shippers like Dryships Inc. (NASDAQ: DRYS), Genco Shipping & Trading Ltd. (NYSE: GNK), and Diana [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Jul 2010 | 9:56 am Caption Contest Thursday
Source: Dealbreaker | 1 Jul 2010 | 9:53 am Dear Team Einhorn
Source: Dealbreaker | 1 Jul 2010 | 9:12 am Gary Cohn: “We’re Always Facilitating For Our Clients”
Source: Dealbreaker | 1 Jul 2010 | 9:10 am Consumers Sue Apple Over Bad iPhone Reception
Three iPhone owners have filed sued Apple for misleading advertising, false advertising, and unfair business practices when selling its new iPhone 4. Bloomberg has the story: A New Jersey resident and a Massachusetts resident who had bought the new mobile phone filed separate complaints yesterday in federal court in San Francisco, each seeking to represent other iPhone buyers in a class-action, or group, lawsuit. A separate complaint was filed this morning in Maryland, alleging Apple and wireless carrier AT&T Inc. were negligent in marketing the phone. “Apple’s sale of the iPhone with this unannounced defect, assuming Apple’s prior knowledge of the defect, constitutes misrepresentation and fraud,” Christopher Dydyk of Cambridge, Massachusetts, said in his complaint. “In omitting to disclose the defect in the iPhone 4, Apple perpetrated a massive fraud upon hundreds of thousands of unsuspecting customers.” Dydyk, in his complaint, asked that Apple ship a bumper for free to customers who pre-ordered an iPhone 4 before its release or that the company be ordered to pay for customers’ bumpers. Maryland residents Kevin McCaffrey and Linda Wrinn claim in their complaint that Apple and AT&T “actively suppressed and concealed the fact that the iPhone 4 could not be held in a manner consistent with the normal usage of wireless communication devices.” They seek unspecified damages and a jury trial. Those lawsuits certainly heated up the PR stink against Apple. I bet Apple won’t do anything, though
Source: Business Pundit | 1 Jul 2010 | 7:47 am Presented By:Source: Dealbreaker | 1 Jul 2010 | 7:30 am Opening Bell: 07.01.10
AIG’s Benmosche Said To Threaten To Resign Unless Golub Quits (Bloomberg) Goldman Executives Defend AIG Treatment, Swap Values (WSJ) Connecticut starts border war over NY hedge funds (Reuters) Treasury Sells 1.1 Billion More Citi Shares (NYT) Steve Perkins, the broker who traded $520m when drunk, to resume career in Switzerland (Telegraph) Morgan Stanley May Hire 500 Bankers In Lending Push (Bloomberg) Former Regulators Find Steady Work With Hedge Funds (Reuters)
Source: Dealbreaker | 1 Jul 2010 | 7:30 am Taylor on European Debt Crisis, Choudhry on Bonds: First WordSource: Bloomberg - All Podcasts | 1 Jul 2010 | 6:57 am How One Broker's 'Extremely Heavy Drinking' Raised Global Oil Pricesby Jacob Goldstein British authorities banned a broker who bought more than $500 million in oil futures in a drunken stupor. The trades cost him his job, led to a net loss of nearly $10 million for his company, and briefly raised the price of oil futures by more than $1.50 per barrel, a rise of about 2 percent. He was working from home, on his laptop, in the middle of the night, after a weeked of golfing and heavy drinking. He told investigators he was "in an alcohol induced blackout," according to a report from the U.K.'s Financial Services Authority. The guy was a broker, not a trader — that means he was only supposed to place trades on behalf of his firm's clients. Initially, he told his firm he made the trades on behalf of a client. But his story didn't hold up, and he was fired. The incident happened last year, but the FSA didn't issue its findings until last week. The broker was fined 72,000 pounds and banned from working as a broker for five years. When the ban expires, he can apply to have his privileges reinstated. Here's more from the Telegraph. Hat Tip: nbryan Source: NPR Blogs: Planet Money | 1 Jul 2010 | 6:27 am Oil slides on weak China data (AFP)
Source: Yahoo! News: Stock Markets News | 1 Jul 2010 | 5:44 am Homebuyer Tax Credit Extended to Sept. 30
President Obama will sign a new homebuyer tax credit extension today. The tax credit will now run until September 30 for those who already have a home under contract. It doesn’t apply to people who are still shopping for homes. The New York Times has more: Congress has sent President Obama a plan to give home buyers an extra three months to qualify for up t0 $8,000 in federal tax credits. Buyers who already have signed contracts will now have until Sept. 30 to complete their purchases. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale. The House approved the measure on Tuesday. Legislation in the Senate was approved Wednesday night by unanimous consent.
Source: Business Pundit | 1 Jul 2010 | 5:41 am What Happened to Google Wave?
Source: Business Pundit | 1 Jul 2010 | 4:05 am
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