Auto Review: 2011 Jeep Grand Cherokee: Grounded in the basics

The top of the line Overland model I briefly test drove seemed very comfortable with a nice fat steering wheel and easy-to-read gauges.



Source: MarketWatch.com - Top Stories | 3 Jul 2010 | 4:01 am

Travel: Get your passport now -- before fees jump higher

If you’ve been procrastinating about getting or renewing your passport, it’s time to get going because fees are rising soon.



Source: MarketWatch.com - Top Stories | 3 Jul 2010 | 4:00 am

Calif. state workers brace for minimum wage (AP)

FILE - In this June 9, 2010 file photo, California Gov Arnold Schwarzenegger speaks at news conference to applaud the passage of Proposition 14 in Los Angeles. Schwarzenegger's order to pay 200,000 state workers just the minimum wage sent a signal to California lawmakers: In the impasse over closing California's $19 billion budget deficit, the governor is ready to play hardball.  (AP Photo/Nick Ut)AP - Some California state workers are preparing to tap into their savings while others already are cutting expenses as Gov. Arnold Schwarzenegger's minimum wage order moved one step closer to reality.



Source: Yahoo! News: Business News | 3 Jul 2010 | 3:57 am

EADS chief hopes to win tanker (AP)

AP - The head of Airbus parent company EADS NV says he hopes to win a $35 billion Pentagon tanker project because he has a better and cheaper plane.
Source: Yahoo! News: Business News | 3 Jul 2010 | 3:57 am

Talks resume in California port clerk strike (AP)

AP - Negotiators for striking clerical workers and shippers at the ports of Los Angeles and Long Beach are talking again.
Source: Yahoo! News: Business News | 3 Jul 2010 | 3:56 am

Congo: Red Cross says 204 dead in oil explosion (AP)

AP - At least 204 people were killed in Congo when a tanker truck transporting oil flipped over and exploded overnight in the east of the country, a Red Cross official said Saturday.
Source: Yahoo! News: Business News | 3 Jul 2010 | 3:48 am

EADS to submit tanker bid, sees WTO appeal "likely" (Reuters)

Reuters - EADS will submit its bid for the hotly contested competition to build a new generation of aerial tankers for the U.S. military either on Thursday or Friday, Chief Executive Louis Gallois said on Saturday.
Source: Yahoo! News: Business News | 3 Jul 2010 | 3:41 am

EADS to submit tanker bid, sees WTO appeal "likely"

AIX-EN-PROVENCE, France (Reuters) - EADS will submit its bid for the hotly contested competition to build a new generation of aerial tankers for the U.S. military either on Thursday or Friday, Chief Executive Louis Gallois said on Saturday.



Source: Reuters: Business News | 3 Jul 2010 | 3:41 am

Gulf oil cleanup resumes, new drilling rules awaited

HOUSTON (Reuters) - Washington was preparing a revised offshore oil drilling moratorium and cleanup efforts in the Gulf of Mexico returned to normal on Friday after hurricane Alex passed through the region without doing major damage.



Source: Reuters: Business News | 3 Jul 2010 | 1:53 am

Talks resume in California port clerk strike

Negotiators for striking clerical workers at the ports of Los Angeles and Long Beach have concluded contract talks for the night with shippers and terminal operators. Stephen Berry, lead
Source: RSS feed - channel BNewsBusiness | 3 Jul 2010 | 1:06 am

Disappointing June jobs report casts shadow over recovery

The nation loses 125,000 jobs in June, but the unemployment rate falls to 9.5% as more workers leave the labor force.

A disappointing new jobs report provided the latest and sharpest sign yet that the economic recovery may be losing momentum and that few industries are ready to spur job growth to replace the millions lost during the recession.



Source: L.A. Times - Business | 3 Jul 2010 | 1:00 am

Corporate earnings may be stock market's last hope

How the big companies fared in the second quarter could be key to sustaining faith in a continued economic rebound — as well as to the health of our 401(k)s.

After the economic and financial disasters brought to us over the last two years by big banks, big auto companies and, lately, Big Oil, it's asking a lot of the general public to root for the success of the Fortune 500 crowd.



Source: L.A. Times - Business | 3 Jul 2010 | 1:00 am

Regulators' takeover of Arrowhead Credit Union raises debate

Critics say regulators may have moved too fast in seizing Arrowhead Credit Union.

Did regulators move too fast in taking down Arrowhead Credit Union, as a prominent financial consultant contended?



Source: L.A. Times - Business | 3 Jul 2010 | 1:00 am

Food courts upgrade to finer dining

Korean barbecue, prime rib, made-to-order sushi — upscale cuisine attracts customers to shopping malls even in a bad economy. After all, everyone needs to eat. ...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Screenwriters find work is dwindling

Looking to cut costs, Hollywood studios recast the rules under which they have long hired writers.

Screenwriter David Steinberg was invited last fall by a producer to pitch his idea for a rewrite of a "high-concept comedy" about an adult slacker for a major studio.



Source: L.A. Times - Business | 3 Jul 2010 | 1:00 am

Companies swoop in to save fireworks shows

With fireworks shows endangered because of budget cuts, companies and professional groups have been stepping in to rescue them, seeing the displays as good for business. ...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Screenwriters find work is dwindling

Looking to cut costs, Hollywood studios recast the rules under which they have long hired writers. Screenwriter...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Regulators' takeover of Arrowhead Credit Union raises debate

Critics say regulators may have moved too fast in seizing Arrowhead Credit Union. Did regulators move too fast...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Disappointing June jobs report casts shadow over recovery

The nation loses 125,000 jobs in June, but the unemployment rate falls to 9.5% as more workers leave the labor force. ...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Apple admits iPhones' signal bars give incorrect readings

Problem goes back to the earliest iPhone, the firm says. In many cases, phones displayed two more bars than they should have.

Ever wondered why your iPhone had patchy service even though it showed the signal bars at full strength?



Source: L.A. Times - Business | 3 Jul 2010 | 1:00 am

Toyota to recall 138,000 Lexus cars in U.S.

The automaker says faulty engine valve springs could cause the vehicles to stall. The problem affects 2006, 2007 and 2008 GS, IS and LS models. ...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

How do people follow the World Cup? ESPN is interested

Researchers are using the tournament as a living laboratory to test how people consume sports. The results can help price advertising, deploy staffing resources and select broadcast times. ...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Corporate earnings may be stock market's last hope

How the big companies fared in the second quarter could be key to sustaining faith in a continued economic rebound — as well as to the health of our 401(k)s. ...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Apple admits iPhones' signal bars give incorrect readings

Problem goes back to the earliest iPhone, the firm says. In many cases, phones displayed two more bars than they should have. ...
Source: RSS feed - channel BNPaperBusiness | 3 Jul 2010 | 1:00 am

Toyota to recall 138,000 Lexus cars in U.S.

The automaker says faulty engine valve springs could cause the vehicles to stall. The problem affects 2006, 2007 and 2008 GS, IS and LS models.

First it was sudden acceleration, and now it's the potential for an unexpected stall.



Source: L.A. Times - Business | 3 Jul 2010 | 1:00 am

Companies swoop in to save fireworks shows

With fireworks shows endangered because of budget cuts, companies and professional groups have been stepping in to rescue them, seeing the displays as good for business.

Laguna Beach is famed for its Fourth of July fireworks displays that have stretched back more than 40 years. But this year, with the city feeling the economic squeeze, it looked as if there might be no pyrotechnics.



Source: L.A. Times - Business | 3 Jul 2010 | 1:00 am

Diver dies while working on rig unrelated to spill

A waste services company says a diver performing maintenance on a client's rig in the Gulf of Mexico, unrelated to the massive oil spill, has died after an underwater accident. A...
Source: RSS feed - channel BNewsBusiness | 3 Jul 2010 | 12:14 am

Market Snapshot: U.S. stocks to begin new week in vulnerable spot

The U.S. stock market will begin the holiday-shortened week in a precarious state, with the third quarter off to a rotten start and the S&P 500 Index perilously close to breaching 1,000.



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 10:01 pm

Stocks to Watch: Stocks to Watch Tuesday Apple, Allergan

Among the companies whose shares are expected to see active trading early next week are Apple Inc. and Allergan.



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 10:01 pm

7.9 million jobs lost - many forever

The recession killed off 7.9 million jobs. It's increasingly likely that many will never come back.
Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 9:46 pm

Toyota: New Lexus recall

Toyota Motor Co. said Friday that it was moving ahead with plans to recall about 138,000 Lexus cars for engine problems that could, in rare instances, lead to stalling.
Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 9:17 pm

Job market not growing fast enough for big rebound (AP)

In this June 28, 2010 photo, Gilbert Ray of San Francisco sits and waits in line with others to attend at a National Career Fair in San Francisco. The unemployment rate fell to 9.5 percent, its lowest level in almost a year.(AP Photo/Eric Risberg)AP - A second straight month of lackluster hiring by American businesses is sapping strength from the economic rebound.



Source: Yahoo! News: Business News | 2 Jul 2010 | 9:00 pm

How do people follow the World Cup? ESPN is interested

Researchers are using the tournament as a living laboratory to test how people consume sports. The results can help price advertising, deploy staffing resources and select broadcast times.

At 5:30 a.m., even before her first cup of coffee, research director/data wrangler Eleanor McDonnell Feit stumbles from her bed to the computer.



Source: L.A. Times - Business | 2 Jul 2010 | 8:53 pm

Weak private hiring in June shows tepid U.S. recovery

WASHINGTON (Reuters) - U.S. private payrolls rose only modestly in June and overall employment fell for the first time this year as thousands of temporary census jobs ended, indicating the economic recovery is failing to pick up steam.



Source: Reuters: Business News | 2 Jul 2010 | 8:50 pm

Food courts upgrade to finer dining

Korean barbecue, prime rib, made-to-order sushi — upscale cuisine attracts customers to shopping malls even in a bad economy. After all, everyone needs to eat.

For a gourmet meal, head on over to ... the food court?



Source: L.A. Times - Business | 2 Jul 2010 | 8:20 pm

UPDATE 1-Cliffs wins Spider backing, KWG bows out

NEW YORK, July 2 (Reuters) - Spider Resources Inc agreed to a takeover by Cliffs Natural Resources Inc and ended a deal with KWG Resources Inc , giving up on its efforts to fend off Cliffs' unsolicited...
Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 7:10 pm

SEC sues Utah man in "sandwich in a can" fraud (Reuters)

Reuters - The Securities and Exchange Commission has sued a Utah man for fraudulently misusing $139 million of investor funds on such things as a film about the Cub Scouts' Pinewood Derby car race and development of a "sandwich in a can."
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 6:19 pm

Toy company accused of laundering drug money

Three executives at a stuffed toy manufacturer were arrested Friday on suspicion of laundering millions of dollars for Mexican and Colombian drug traffickers, authorities said. The...
Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 5:57 pm

US lawmakers hit at China steel move

US lawmakers are challenging a joint venture between China’s third-largest steel producer and a US steel company because it would ‘allow a Chinese company to exploit the American steel market’ and threaten national security
Source: Financial Times - US homepage | 2 Jul 2010 | 5:50 pm

GM to file mid-August IPO: sources

NEW YORK/FRANKFURT/DETROIT (Reuters) - General Motors Co plans to file its nearly $20 billion initial public offering in mid-August, a source familiar with the situation said Friday, later than some expected as bankers work to help sort out the automaker's finances post-bankruptcy.



Source: Reuters: Business News | 2 Jul 2010 | 5:44 pm

GM to file mid-August IPO: sources (Reuters)

The first pre-production Chevrolet Volt rolls down the assembly line at the Detroit-Hamtramck manufacturing plant in Detroit March 31, 2010. REUTERS/John F. Martin/HandoutReuters - General Motors Co plans to file its nearly $20 billion initial public offering in mid-August, a source familiar with the situation said Friday, later than some expected as bankers work to help sort out the automaker's finances post-bankruptcy.



Source: Yahoo! News: Business News | 2 Jul 2010 | 5:44 pm

Weekend Investor: Stock-fund gains dissolve as 2010 turns perilous

The second quarter brought investors in U.S. stock funds face-to-face with some ruthless mean girls -- April, May and June -- and the meeting wasn’t pretty.



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 5:40 pm

Congress Extends Homebuyer Tax Credit Deadline to September 30


Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 5:31 pm

IMF releases 913 million euros of loan to Romania

The International Monetary Fund released a loan instalment of 913.2 million euros (1.1 billion dollars) to Romania on Friday, signalling approval of the government's deficit-reduction...
Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 5:26 pm

The Friday Podcast: Good News From Haiti

Haiti
Sebastien Narcisse

The young men of Casale work to bring water to a mango center.

On today's Planet Money, we revisit two stories from Haiti. Both turned out better than we expected.

First, we hear from Yvrose Jean Baptiste, the Haitian businesswoman left destitute by the earthquake.

When we first met her in February, all she had to her name was a tub of chicken necks she was selling for a few pennies each. Now, she has money in the bank and her own stall in a bustling market. For more on Yvrose, read our post from this morning.

Then: mangoes. Earlier this year on This American Life, we told the story of how hard it was to build a little place where farmers could wash and store their mangoes.

We thought it would never happen. But — right after that story aired — construction began. A local leader even convinced the young men in the village to dig up 27 miles of unused pipe, and move it so that it can supply water to the center.

Check out the rest of our Haiti coverage. Download the podcast, or Subscribe. Music: Belo's "Lakou Trankil." Find us: Twitter/ Facebook/ Flickr.


Source: NPR Blogs: Planet Money | 2 Jul 2010 | 5:17 pm

UPDATE 1-Devon, Murphy claim force majeure on Diamond rigs

* Devon, Murphy adds to Cobalt Gulf of Mex. force majeure
Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 5:12 pm

Investors expect change in BP leadership: report

NEW YORK (Reuters) - Investors in BP expect to see a change in its leadership, with a shake-up possible once the oil giant's leaking well in the Gulf of Mexico is capped, the Financial...
Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 5:09 pm

Investors expect change in BP leadership: report

NEW YORK (Reuters) - Investors in BP expect to see a change in its leadership, with a shake-up possible once the oil giant's leaking well in the Gulf of Mexico is capped, the Financial Times reported on Friday, citing leading shareholders and people close to the group.



Source: Reuters: Business News | 2 Jul 2010 | 5:09 pm

Talks to resume in California port clerk strike

Negotiators for striking clerical workers at the ports of Los Angeles and Long Beach are set to restart contract talks with shippers and terminal operators. A negotiator for the...
Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 5:08 pm

Apollo threatens to withdraw offer for Brit over lack of access to books

Private equity firm Apollo has threatened to withdraw its proposed offer to buy Brit Insurance.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 5:02 pm

MPs want new ban on ticket touts

A number of MPs are calling for ticket-touting at big sporting events to be made illegal.
Source: BBC News | Business | World Edition | 2 Jul 2010 | 5:00 pm

Los Angeles/Long Beach Waterfront Labor Negotiations Update


Source: RSS feed - channel BNewsBusiness | 2 Jul 2010 | 5:00 pm

Russian spying at cold war levels, say experts

The global media has ridiculed the antics of the alleged agents arrested by the FBI but intelligence sources insist Moscow’s networks pose a real threat
Source: Financial Times - US homepage | 2 Jul 2010 | 4:58 pm

Latin American Markets: Mexico stocks overcome U.S. jobs data, end higher

Mexican stocks rise Friday, pushing past a disappointing monthly jobs report from Mexico's biggest trading partner: the U.S. But the peso falls ahead of Sunday's elections.



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 4:58 pm

Portugal govt to cut deficit to 3 percent of GDP by 2012 (AFP)

A view of the Portuguese parliament in Lisbon in 2005. The Portuguese government plans to bring down its public deficit to three percent of GDP by 2012, bringing it into line with EU rules on budgetary discipline a year early, according to projections issued by the finance ministry late Friday.(AFP/File/Nicolas Asfouri)AFP - The Portuguese government plans to bring down its public deficit to three percent of GDP by 2012, bringing it into line with EU rules on budgetary discipline a year early, according to projections issued by the finance ministry late Friday.



Source: Yahoo! News: Business News | 2 Jul 2010 | 4:52 pm

Top Ten: MarketWatch's top stories June 28 - July 2

U.S. stocks fell on Friday, the seventh day in a row U.S. equities have lost ground.



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 4:43 pm

Getting Personal

MSN Money's Liz Pulliam Weston and host Tess Vigeland take your questions on how to handle investment properties and what happens when a condo in your complex goes into foreclosure.
Source: Marketplace Money | 2 Jul 2010 | 4:36 pm

Toyota recalling 270,000 cars that may stall

DETROIT (Reuters) - Toyota Motor Corp said on Friday it would recall 270,000 of its luxury Lexus models and Toyota Crown sedans for the chance that faulty valve springs may cause engine stalling.



Source: Reuters: Business News | 2 Jul 2010 | 4:34 pm

India opens $1.3bn air terminal in capital

Until now, international travellers arriving in New Delhi transited through a dingy socialist-era terminal. But India’s capital is finally getting a world-class international gateway
Source: Financial Times - US homepage | 2 Jul 2010 | 4:31 pm

US jobs data hint at flagging recovery

The size of the US labour force has shrunk since May by 652,000, the second largest monthly fall since 1995, as fears that the US economic recovery may be fizzling out took hold
Source: Financial Times - US homepage | 2 Jul 2010 | 4:29 pm

Energy stocks wrap up a down week on low note

Oil and gas stocks end mostly lower, tracking further declines by crude-oil prices and the broader equities market.



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 4:27 pm

The 10 biggest stock losers so far in 2010



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 4:13 pm

GM's Chinese sales top U.S.

China has become the top sales market for General Motors, the iconic American automaker which is owned by U.S. taxpayers.
Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 4:07 pm

Blockbuster gets reprieve from lenders

The video rental chain, which is being delisted by the NYSE, gets a six-week extension on its debt payment. As part of the deal, it must hire a restructuring officer.

Troubled Blockbuster Inc. has won some breathing room.



Source: L.A. Times - Business | 2 Jul 2010 | 4:07 pm

The 10 biggest stock winners so far in 2010

These 10 stocks led the S&P 500 in the first half of 2010.



Source: MarketWatch.com - Top Stories | 2 Jul 2010 | 4:04 pm

Summary Box: Stocks fall after jobs disappoint (AP)

AP - EXTENDED SLIDE: The Dow Jones industrials fell 46 points Friday for their seventh straight drop. It was the longest losing streak since October 2008, the height of the financial crisis.
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 4:03 pm

Iceland holds talks over Icesave

Officials from Iceland, the Netherlands and the UK hold talks over the settlement of a £2.3bn banking dispute.
Source: BBC News | Business | World Edition | 2 Jul 2010 | 4:02 pm

BP braces for a shake-up at the top

Investors are braced for a clear-out of BP’s leadership once its leaking oil well in the Gulf of Mexico is capped, which could come in the next few weeks, according to several leading shareholders and people close to the group
Source: Financial Times - US homepage | 2 Jul 2010 | 4:01 pm

Bulls on the run in shortened trading week

NEW YORK (Reuters) - Bearish bets in the equity options market, coupled with an increasingly sour view from a technical perspective, suggest stocks will struggle to break from a vicious two-month downtrend next week.



Source: Reuters: Business News | 2 Jul 2010 | 3:57 pm

Bulls on the run in shortened trading week (Reuters)

A flag flies on outside of the New York Stock Exchange building in New York May 6, 2010. REUTERS/Lucas JacksonReuters - Bearish bets in the equity options market, coupled with an increasingly sour view from a technical perspective, suggest stocks will struggle to break from a vicious two-month downtrend next week.



Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 3:57 pm

Apple admits iPhone signal fault

Apple says a significant fault on its new iPhone 4 is causing it to incorrectly display the phone's signal.
Source: BBC News | Business | World Edition | 2 Jul 2010 | 3:55 pm

Stocks fall as jobs report adds to economic fears (AP)

FILE - In this March 8, 2010 file photo, a sign for Wall Street is shown near the New York Stock Exchange.  Stock futures were little changed Friday, July 2, 2010, as investors avoid making any big moves ahead of the government's key monthly employment report.(AP Photo/Mark Lennihan, file)AP - A disappointing jobs report sent stocks falling Friday and gave the Dow Jones industrial average its longest losing streak since the worst days of the financial crisis.



Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 3:55 pm

Dow's Losing Streak Hits Seven (Market Update)

The Dow Jones Industrial Average ticked off a string of ignominious markers on Friday. Among...



Source: SmartMoney.com | 2 Jul 2010 | 3:54 pm

Gold prices bounce back after sharp fall

Gold prices slid more than $40 an ounce this week as the broader sell-off in financial markets sparked a bout of profit-taking. The precious metal suffered its sharpest daily fall in five months...
Source: RSS feed - channel BNPaperBusiness | 2 Jul 2010 | 3:45 pm

Apple says iPhones overstate signal strength

NEW YORK (Reuters) - Apple Inc came clean on Friday about an embarrassing software glitch that overstates network signal strength in its hot-selling iPhone, as complaints mounted about the phone's wraparound antenna.



Source: Reuters: Business News | 2 Jul 2010 | 3:30 pm

Toyota to recall 138,000 Lexus vehicles in US (AP)

Lexus salesmen look inside a Certified Pre-Owned Lexus vehicle offered for sale at the Keyes Lexus dealership on Thursday, July 1, 2010, in Van Nuys, Calif. Toyota Motor Corp. said Thursday about 270,000 cars sold worldwide, including luxury Lexus sedans, have faulty engines, the latest quality lapse to hit the automaker following massive global recalls. (AP Photo/Damian Dovarganes)AP - Toyota Motor Corp. said Friday it intends to recall 138,000 Lexus vehicles in the United States to fix faulty engines in the latest quality problem to afflict the world's No. 1 automaker.



Source: Yahoo! News: Business News | 2 Jul 2010 | 3:29 pm

US sees 125,000 jobs lost in June

There were about 125,000 US jobs lost in June, figures show, partly due to the loss of temporary census employees.
Source: BBC News | Business | World Edition | 2 Jul 2010 | 3:28 pm

US stocks fall on job report news

NEW YORK - The Dow Jones industrial average dropped for a seventh straight day, its longest losing streak since the height of the financial crisis in October 2008. A disappointing jobs report added to investors' concerns that the...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 3:26 pm

Jobs Picture Stalls Employment Stocks (On the Street)

Recent data has hurt firms tied to temp work, recruitment and payrolls.



Source: SmartMoney.com | 2 Jul 2010 | 3:14 pm

Recession Outlook, Stock Market, Hedge Funds: Taking Stock


Source: Bloomberg - All Podcasts | 2 Jul 2010 | 3:11 pm

AIG can proceed with workers comp lawsuit vs rivals

NEW YORK (Reuters) - A Chicago federal judge has authorized American International Group Inc to pursue a lawsuit accusing rival insurers of illegally conspiring to cause it harm in the workers' compensation market.



Source: Reuters: Business News | 2 Jul 2010 | 3:02 pm

California Applelate Court Upholds Schwarzenegger’s Plan To Pay State Employees The Minimum Wage

California’s 3rd Appellate District court in Sacramento ruled state Controller John Chiang must comply with an order by Governor Arnold Schwarzenegger to lower the pay of almost 200,000 state workers to the federal minimum wage of $7.25 until a budget is passed. The state’s  fiscal year began on July 1. The dispute between the governor [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 2:58 pm

How the major stock indexes fared on Friday (AP)

AP - The Dow Jones industrial average dropped for a seventh straight day, its longest losing streak since the height of the financial crisis in October 2008.
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 2:53 pm

Toyota recalls 270,000 vehicles

Japanese 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 | 2:49 pm

Toyota recalls 270,000 vehicles

Japanese 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 | 2:49 pm

What U.S. Automakers Want to Know

GM now sells more autos in China than here. Which U.S. brands will follow?



Source: SmartMoney.com | 2 Jul 2010 | 2:49 pm

Wall St falls to close out worst week in two months

NEW YORK (Reuters) - U.S. stocks fell on Friday to close out their worst week in two months as disappointing jobs data joined other recent evidence pointing to a tepid economic recovery.



Source: Reuters: Business News | 2 Jul 2010 | 2:47 pm

Wall St falls to close out worst week in two months (Reuters)

A trader works on the floor of the New York Stock Exchange in New York, June 30, 2010. REUTERS/Shannon StapletonReuters - U.S. stocks fell on Friday to close out their worst week in two months as disappointing jobs data joined other recent evidence pointing to a tepid economic recovery.



Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 2:47 pm

'Stunned' Apple to fix iPhone signal bug

The iPhone 4 "grip of death" signal-strength problem turns out to be a bug that has been with Apple's bestselling smart phone all the way back to the original iPhone.
Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 2:31 pm

Wal-Mart merchandising chief leaves (AP)

AP - Wal-Mart Stores Inc.'s chief merchandising officer John Fleming is leaving the company Aug. 1 after 10 years, the world's largest retailer said Friday.
Source: Yahoo! News: Business News | 2 Jul 2010 | 2:25 pm

Stocks end at new 2010 lows

Stocks ended a volatile session lower Friday, with the major indexes ending at new 2010 lows in the aftermath of a weaker-than-expected June jobs report.
Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 2:22 pm

It Was a Good Week for European Banks (Ahead of the Curve)

Luskin: A funny thing happened on the way to the collapse.



Source: SmartMoney.com | 2 Jul 2010 | 2:18 pm

Google's latest $700 million buy

Google 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 | 2:11 pm

Why Britain's railways are a secret weapon in shunting the deficit into history

Oscar Wilde knew how to prepare for a railway journey. "I never travel without my diary," the Irish wit once remarked. "One should always have something sensational to read in the train."
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 2:09 pm

This Month’s Biggest Index Gainers: Chinese Telecom, Chinese Solar, and Oil and Gas Stocks

Despite the bearish market, three Tickerspy indexes which posted substantial gains over the last 30-day period. This month’s biggest index gainers are Chinese telecom, Chinese solar, and oil and gas pipeline stocks. Chinese telecom stocks are up 6.5% in the past month. The best performing stocks in the sector are China Unicom (Hong Kong) Limited, (NYSE: [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 2:06 pm

What Steve Jobs didn't say


Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 1:56 pm

BP's Bob Dudley admits that hurricane Alex is driving oil to the US coast

BP's share price falls after executive admits that Hurricane Alex has spread oil inland.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 1:38 pm

Rotten Tomatoes gets fresh

The Internet's crankiest brand goes mainstream in a bid to turn "fresh/rotten" into the "two thumbs" of film criticism.
Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 1:35 pm

Dell's new threat from old PC failures

A 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 | 1:35 pm

Study: Handling money minimizes pain

Professor Kathleen Vohs talks with Tess Vigeland about a study she helped lead that says handling dollar bills actually helps ease both physical and mental pain.
Source: Marketplace Money | 2 Jul 2010 | 1:33 pm

Stimulus: The big bang is over

The job market and economy need a serious jumpstart, but the stimulus program likely won't be able to do it.
Source: Business and financial news - CNNMoney.com | 2 Jul 2010 | 1:31 pm

Oil Leak Likely To Hit Miami

NOAA has made projections of the likely path of the Deepwater Horizon rig spill. The model for the forecasts is based on ocean and weather patterns determined by government agencies. In the technical report being released today, the model’s results aggregate information from 500 distinct scenarios (model outcomes). Each assumes a 90-day oil flow rate [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 1:27 pm

Australia Lowers Excess-Profits Tax Proposal (BHP, RTP, XSRAY, VA

Last week’s change in Australian prime ministers has produced an early result for mining companies with assets in the country. A proposed excess profits tax of 40%, put forth by the former government, has been negotiated down to 30% and restricted to iron-ore and coal miners. Mining companies BHP Billiton Ltd. (NYSE: BHP), Rio Tinto [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 1:09 pm

New Regulations Could Limit Health Insurers’ Profits (UNH, AET, HUM, WLP, CI, ANAT, AIZ)

The next major change coming to the US health-care industry is due to take effect on January 1, 2011. The health care reform act includes a restriction on how much an insurer can spend on non-medical costs. Insurers are required to use 85% of premium payments from large employers to pay medical costs and 80% [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 12:53 pm

RBS 'pays' HSBC to take its Indian busines off its hands

The urgency of Royal Bank of Scotland's efforts to cut the size of its international business were underlined on Friday as the bank agreed a deal with HSBC that could see it paying its larger rival to take its Indian operations off its hands.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 12:40 pm

Shares in Mediterranean Oil and Gas slump on Italy's deepwater drilling ban

Shares in Mediterranean Oil and Gas slumped by a quarter, after saying it could be affected by new Italian restrictions on deepwater drilling in the wake of the Gulf of Mexico oil spill.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 12:35 pm

China acts to ease Uighur tension

China has installed a network of officials throughout Xinjiang, its predominantly Muslim north-west frontier region, to spot early signs of unrest a year after ethnic riots erupted in the provincial capital
Source: Financial Times - US homepage | 2 Jul 2010 | 12:35 pm

BHP Billiton and Rio Tinto welcome new Australian PM's tax compromise

The Australian government has scrapped plans to impose a 40pc tax on miner's profits after two months of intense lobbying from the world's largest mining companies.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 12:32 pm

Gluskin Sheff’s Rosenberg Discusses U.S. Jobs, Treasuries


Source: Bloomberg - All Podcasts | 2 Jul 2010 | 12:30 pm

UK doesn't need to introduce austerity so quickly, world's biggest debt manager says

Pimco, the world's largest bond house, said the Coalition's decision to begin the process of fiscal tightening immediately was unnecessary.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 12:27 pm

Credit counseling for 'Housewives' star

After displaying a lavish lifestyle on the reality TV show, the Real Housewives of New Jersey, Teresa Giudice and her husband have filed for bankruptcy. That's for $11 million dollars. Host Tess Vigeland talks with Gail Cunningham of the National Foundation for Credit Counseling about how to get out of such extreme debt
Source: Marketplace Money | 2 Jul 2010 | 12:22 pm

Arizona businesses losing customers

Small business owners across Arizona are paying a price for the state's new immigration law. Businesses that have catered to Hispanic customers have been hit hardest. Jeff Tyler reports.
Source: Marketplace Money | 2 Jul 2010 | 12:22 pm

The challenges of microfinance

Thousands of ordinary people are turning towards microfinance as a form of charitable giving. But it turns out your contribution could end up in the wrong hands. New York Times writer Neil MacFarquhar discusses the challenges surrounding microfinance with host Tess Vigeland.
Source: Marketplace Money | 2 Jul 2010 | 12:21 pm

Credit card debt hitting Latinos hardest

A study by the NAACP showed 79 percent of Latino households carry credit card debt, compared with 54 percent of white households. And when it comes to the interest on those cards, Latinos pay a much higher rate. From WAMU in Washington, D.C., Rebecca Sheir reports.
Source: Marketplace Money | 2 Jul 2010 | 12:21 pm

Gov't workers are losing their pensions

Most workers today have 401(k) plans. Government employees, however, are an exception. The retirement guarantees they thought they had are vanishing because budget woes are forcing deep cuts in government workers' promised benefits. Marketplace's Mitchell Hartman reports.
Source: Marketplace Money | 2 Jul 2010 | 12:21 pm

Holiday cookout advice

Tess Vigeland turns to "Dinner Party Download" hosts Brendan Newnam and Rico Gagliano for some Fourth of July barbeque advice.
Source: Marketplace Money | 2 Jul 2010 | 12:20 pm

Kesa in focus as FTSE 100 bounces off 10-month low

Kesa was in focus as the London market rallied off 10-month lows.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 12:18 pm

Small talk: Light sabers, wine machines

Marketplace's Brendan Newnam and Rico Gagliano chat with fellow staffers Dalasie Michaelis, Bill Radke and Stacey Vanek-Smith about real light sabers, wine vending machines and the worst (or best) drunk story ever.
Source: Marketplace | 2 Jul 2010 | 12:17 pm

Into the 'Honda Jungle' of the Amazon

There are no roads for cars in or out out of Peruvian town Iquitos, which is deep in the Amazonian rainforest -- so Honda opened a motorcycle factory to cater to local needs.
Source: Marketplace | 2 Jul 2010 | 12:17 pm

Summer Reading: Kevin Pereira

Kevin Pereira, co-host of G4TV's "Attack of the Show," shares his summer reading pick: A guide on business management that throws convention out the window.
Source: Marketplace | 2 Jul 2010 | 12:17 pm

Weekly Wrap: The job market, financial reform

Reuters's Felix Salmon and the Atlantic's Megan McArdle talk with Tess Vigeland about the latest unemployment figures and what it means for the recovery, and the financial reform bill.
Source: Marketplace | 2 Jul 2010 | 12:17 pm

Habitat fixing and selling foreclosures

With the housing market still at a low, home builders are having a tough time staying afloat, except for one -- Habitat for Humanity. Eve Troeh reports.
Source: Marketplace | 2 Jul 2010 | 12:17 pm

Software fix or faulty hardware?

After a very very brief honeymoon period, people are already complaining about the poor reception on the iPhone 4G. Reporter Bob Moon gives an update on the iPhone signal situation.
Source: Marketplace | 2 Jul 2010 | 12:17 pm

Black workers at a disadvantage

Host Tess Vigeland talks to Steven Pitts of the UC Berkeley Center for Labor Research about the job market for African Americans and the numbers from the center's latest report.
Source: Marketplace | 2 Jul 2010 | 12:16 pm

What latest jobless rate figures mean

The unemployment rate dropped, but don't take that as a good sign yet. Reporter Mitchell Hartman explains how to understand the latest unemployment figures.
Source: Marketplace | 2 Jul 2010 | 12:16 pm

Investors fire warning shot to Tesco over its pay report

Investors fired a warning shot across the bows of the Tesco board, as 32pc vote against its remuneration report.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 12:16 pm

Buds of May struggle for second-half growth

With Asian fears and austerity drives hitting equities, some fund managers are retreating to the sidelines, nervous about what the rest of the year holds
Source: Financial Times - US homepage | 2 Jul 2010 | 12:11 pm

Write-Offs: 07.02.10



$$$ That’s it for us today. We’re off Monday, have a great weekend, Happy Fourth and if you happen to find yourself setting off illegal fireworks with a hedge fund manager of note, we want to know!

$$$ Crisis Panel Targets Goldman as AIG Skates By [Reuters]

$$$ Krugman or Paulson: Who You Gonna Bet On? [BW]

$$$ EU’s ‘Opposite Twins‘ Clash Over Future [WSJ]

$$$ Don’t forget. [DB]

$$$ Meanwhile, Dykstra rented an office in Camarillo, Calif., where he stored “office furniture, antique desks, (a) wine refrigerator, sports memorabilia, and a four-foot-tall electronically-locked safe” from the house. Cisneros says his lawyer reached Dykstra by phone and told him not to take anything, adding that it could “constitute criminal conduct” if he did. Dykstra jokingly answered “that there was a lot of money in the safe but (he) had forgotten the combination.” Cisneros says Dykstra then “gave his word” not to take anything. Next, “within minutes of giving Plaintiff’s counsel he word that he would not remove” the stuff, Dykstra “proceeded to load up a moving van to remove the entire contents.” [Philly]




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Hedge fund - Furniture - Business - Investing - Jim Cramer
Source: Dealbreaker | 2 Jul 2010 | 11:49 am

Dana Petroleum shares soar after Korea National Oil Corporation confirms approach

Shares in Dana Petroleum, the North Sea oil and gas explorer, soared by 22pc after the South Korean state energy company confirmed it had made an approach.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Jul 2010 | 11:47 am

A Bang for Smith & Wesson Investors (Around the Web)

A Supreme Court expanding gun rights ruling gives a bump to S&W stock.



Source: SmartMoney.com | 2 Jul 2010 | 11:38 am

A look at global economic developments (AP)

AP - A look at economic developments and activity in major stock markets around the world Friday:
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 11:35 am

Obama’s public touch grates with business

Businesses say there would be more job creation if there were a more certain investment climate. They complain that there are no senior officials in the Obama administration with any experience of running a publicly traded company
Source: Financial Times - US homepage | 2 Jul 2010 | 11:33 am

Fiscal plans offer little long-term consolation

Governments no longer have the luxury of spending much more or lowering rates further, which means that there is little they can do to ward off the threat of double-dip recession, writes Henny Sender
Source: Financial Times - US homepage | 2 Jul 2010 | 11:33 am

Morgan Stanley Schools Employees On How To Fend Off Bear Attacks



Apparently it’s necessary.

From: Morgan Stanley (Security)
Sent: Friday, July 02, 2010 1:05 PM
To: All
Subject: Bear Sighting

The Harrison Police Department has advised that it has received reports of a bear sighting on Mastercard property, which is located just North of our 2000W Campus. It is recommended that employees remain close to the building and refrain from using the jogging paths or walking in remote areas of the Campus for the rest of the afternoon.

The following tips and other information relating to encounters with black bears may be found at http://www.bebearawaresw.org/

* If a black bear is visible, but not close, alter your route so that you will move away from its area.
* If a black bear approaches, do not run. Remain calm, continue facing the bear and slowly back away. If the bear continues to approach, try to group together and pick up small children. Try to scare the bear away by shouting and acting aggressively.
* If a black bear attacks, it is suggested to fight back using everything in your power fists, sticks, rocks, and E.P.A. registered bear pepper spray.

Have a good holiday weekend.




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Morgan Stanley - American Black Bear - Mastercard - Police - Pepper spray
Source: Dealbreaker | 2 Jul 2010 | 11:24 am

This Week’s Links

Felix Salmon on how US banks are still laundering money.

Jeff Gundlach on how the US will politely default on its debt.

Proof that those “ask your doctor” drug ads don’t work.

In the wake of the Russian spy arrest, some people think spying is a necessary evil.

The Big Picture has a comic on the 24 types of Libertarians.



Source: Business Pundit | 2 Jul 2010 | 11:09 am

Adam Sender Displays Art Around Office Other Hedge Fund Managers Wish They Had The Stones To Put Up



Put it on the trading floor, or better yet, the lobby and that’ll send a message (“This is how it’s gonna be. You have been warned, so don’t come crying to us when your PM busts out a collar.”).

The art in Aibel (Sender’s curator)’s office at Exis Capital veers into the risque. A photograph by German artist Thomas Ruff depicts a blurry woman in lingerie towering over a man on a leash crawling beside her. Aibel joined Sender in 2006, working alongside curator Todd Levin, who spearheaded Sender’s collection from 1998 to 2008.

Adam Sender Dresses Up Hedge Fund Rooms With Ruscha, Dan Flavin [Bloomberg via BI]




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Hedge fund - Business - Investing - Bloomberg L.P - Funds
Source: Dealbreaker | 2 Jul 2010 | 11:00 am

Presented By:


Source: Dealbreaker | 2 Jul 2010 | 11:00 am

Times now charging online readers

The 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 | 10:50 am

NiSource Raised to `Buy', Garmin Cut to `Underperform': Audio


Source: Bloomberg - All Podcasts | 2 Jul 2010 | 10:49 am

FTSE ticks up on mixed US jobs data (AFP)

London's main shares rose higher on Friday following mixed US employment figures that analysts said pointed to modest economic growth ahead.(AFP/File/Shaun Curry)AFP - London's main shares rose higher on Friday following mixed US employment figures that analysts said pointed to modest economic growth ahead.



Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 10:42 am

Brooke sex claims cast shadow on retail plans

Robin Brooke's future as a New World supermarket owner remains unclear after a meeting with senior management following allegations that he had sex with a drunk teenage girl.The former All Black is facing allegations of having...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

Adventure ends for GPG's castaway

On Wednesday Tony Gibbs packed up his Queen St office. It was the end of what he describes as the "great adventure" he embarked on 18 years ago.He says he never believed it would last so long - or end in such a difficult way.The...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

House prices will fall: economists

Westpac economists expect house prices to fall about 2 per cent this year and another 2 per cent next year as a result of tax changes, rising interest rates and falling population growth.Westpac economist Dominick Stephens said...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

Liam Dann : Investors the losers in Hanover battle

The public statement made by Allied Farmers this week was astonishing for the aggressive accusations it made about the behaviour of those in charge of failed finance company Hanover.All sorts of angry opinions have been expressed...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

Thailand woos 'friends' with post-protest pampering

BANGKOK - Pampering at spas, dinner with the Prime Minister, speedy lines at the airport. These are just a few of the ways that Thailand is expressing thanks to a group of foreign investors it has designated "Thailand's Best Friends".The...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

Brian Gaynor : Investors must insist on best practice

Tony Gibbs, the country's number one boardroom brawler, will have a more sedate role after his controversial sacking by Guinness Peat Group.This column has been highly critical of Gibbs but not as an individual. Gibbs is a very...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

Dark days for black stuff force stout defence

John Roscoe has a wonderful job. As GB brand manager for Guinness he sups the creamy stout and dreams up new ways of making money from one of the British Isles' most historic and characterful brands.But the genial marketeer has...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

HBS-SBS merger 'a good fit'

Fitch Ratings said the advantages of a proposed merger of SBS Bank, the former Southland Building Society, and Hawke's Bay-based HBS Building Society are more obvious for HBS.Fitch yesterday affirmed the ratings of both after...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

Germany can teach the world a thing or two

Who is to blame for the state of the world economy? To listen to a range of Presidents, investors, pundits and Finance Ministers, just one country: Germany.US President Barack Obama suggests the Germans are sending the world back...
Source: nzherald.co.nz - Business | 2 Jul 2010 | 10:00 am

China bank in $8.9bn rights issue

The Bank of China confirms it plans to issue up to 60bn yuan ($8.9bn) of new shares in the latest giant fund-raiser by China's banks.
Source: BBC News | Business | World Edition | 2 Jul 2010 | 9:49 am

Make This The Follow-Up To A Serious Double Down Contest And Then Maybe We’ve Got Ourselves A Challenge



So it being a 3.5 day weekend and all, I’m not sticking around much past 1PM but it’s been asked that I share the following, going down at a hedge fund that shall remain nameless. Will post updates until I have to leave.

10:30: Slow day on the desk…new guy is attempting 500 pushups during market hours. So far he has done 50 with 450 to go. The last ten were kind of tough. He’s not in very good shape. We are starting to take bets on when he breaks. Thinking around the 250-300 range.

11:00: 160 down so far…last five saw some shaky arms…he started with increments of 10 and now down to 5 at a time. things aren’t looking good for him.

11:20: 192 now…slowing down. a new proposition has been brought forth…he can opt out of the rest of the challege if we can shave his head before the weekend. potentially a reverse mohawk for the rest of the trading day and then clean it up with a 1 guard after the close.

12:05: 232 now….getting down to very odd increments. trying to find some greasy food for him to eat to help hit the wall sooner. the haircut option is really turning into a possibility.

12:30: 250…halfway home. really getting spotty on the execution. going to eat some Mexican food then make a decision on the haircut option. the 500 mark is not looking good.

1:40: 275…he’s done. haircut option was taken. we’ll start with a backwards mohawk then round it out with a one clip after the close.




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Hedge fund - Investing - Business - Funds - Information and Service Providers
Source: Dealbreaker | 2 Jul 2010 | 9:48 am

Why Russia May Free Thousands Of Accountants

by Ashley Lau

In an effort to attract more overseas investors, Russian lawmakers are planning to amend the country's law on economic crimes. That could result in the release of 100,000 businessmen, Bloomberg News reports.

About one fourth of the 900,000 people in Russian jails are accountants, entrepreneurs, legal advisers or mid-level managers, the deputy head of one of Russia's lawmaking committees told Bloomberg.

Foreign investors have been wary of Russia's legal system. And in the past few years, the country has received much less foreign investment than the other BRIC countries (Brazil, India, and China).

"The current environment is like swimming with crocodiles in a pool of sulfuric acid," the co-owner of a Moscow chemical distributor, who spent seven months in jail, told Bloomberg. "There’s a war on business people in Russia, and it's purely business for officials. They can charge you with any crime and incarcerate you to extort money."


Source: NPR Blogs: Planet Money | 2 Jul 2010 | 9:40 am

This Week’s Weird Jobs


Image: Markhillary/Flickr

From best man to boxing trainer, Victorian-era model to critter urine cleaner, this week’s jobs are a showcase of the strange:

1. MA: Wanted URGENTLY: Best Man for wedding

Ok, so I’m backing out on my cousin last minute, and I before I do it, I need someone lined up to take my place, because I’m not sure that he’ll be able to find someone at such short notice.

Pay is $200+ (negotiable), plus a night in the hotel in question (I’ll sacrafice my room there for the right candidate).

You MUST have comprehensive experience in this position, have a TUX (because the one I have might not fit you), and have transport to and from the locations (to be divulged to selected candidate, but it’s in Holyoke).

Email me with a few pictures (preferably in a tux at a wedding, in the Best Man role) and brief history of experience in this position, and a telephone number where I can contact you.

This will be a one time contract job. You will be required to be available during the entire day, from 9am until 12am (perhaps even until 2am). You will be required to make a speech and fulfill other customary duties normally executed by the best man at weddings. If you happen to find a beautiful woman to dance the night away with, that’s fine, so long as the aforementioned duties are fulfilled in their entirety and in a satisfactory manner.

Due to the sensitivity of this position, and the short time available, please only apply if you are sincere, clinically sane & stable and experienced.

* Compensation: I’d like to get this done for $200, but it’s negotiable.

Professional impersonators, con artists, and wedding crashers, listen up! This job’s perfect for you.


2. OR: Need Female Models for Victorian Era

I am looking to create a series of Victorian Era “Peep Show” images. The finished images will be some of the most unique in your portfolio! These will be shot in my studio in downtown Salem and requires some nudity (bare breasts, and/or implied other). All nudity will be done in a very tasteful and artistic manner simulating the look of turn of the century (1880-1915) Peep Show postcards.

These shots will not be done digitally, but will be shot using REAL period correct photographic equipment.

People with large tattoos, dreadlocks, and nipple rings need not apply.

3. OR: crawl space cleanup

I have critters living under my house. I am trapping them (hopefully) and then I am going to need some under the house restoration. You are welcome to bid on any or all of this project

remove feces
clean up all debris
remove urine soaked vapor barrier and install new
check for other damages
re-attach insulation

Said critters are actually a rare species of deadly subterranean snake. I say I’m trapping them to make you feel more secure. Just remember to sign my disclaimer before going under the house.

4. CA: Need someone to stand in line for iPhone

I am looking to hire someone to stand in line for the new iPhone. Location the Grove in Hollywood. Send your rate and let me known when you could start. This will be overnight gig. Thanks.

Come on Jason Bateman, we already know you got your iPhone by cutting to the front of the line.

5. OR: Need a Boxing Trainer

I am looking for someone to train me how to box. I need to work out and i am choosing boxing as my workout. I need someone who has all equipment and is available about 3-4 day out of the week. I will pay but i am looking to get a cheap price. Please -email me your information and an estimation of the price you will charge. Thank you. I prefer it to be a female. I would just be more conferrable around a female, and it can be at my place(its not that big, but your decision) with your equipment or your place whatever works out for you.

Translation: I’ll give you $5/hour to teach me to box in my 300 square foot studio apartment. You set up your equipment and make sure none if it breaks any windows or topples my mini-fridge. We will probably sweat on each other. But hey, at least I’m polite.

Happy Friday!



Source: Business Pundit | 2 Jul 2010 | 9:22 am

TSX edges lower, gold selloff main drag (Reuters)

Reuters - Toronto's main stock market index was lower on Friday morning, offering a mixed reaction to report that showed U.S. employment fell in June, the first monthly drop this year, but tugged lower by diving gold-mining shares.
Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 9:14 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 | 9:09 am

India interest rates raised again

The Reserve Bank of India raises key interest rates by a quarter of a percentage point in an attempt to curb inflation.
Source: BBC News | Business | World Edition | 2 Jul 2010 | 9:01 am

Bank of China to Seek Funds Through Rights Issue

Trading in shares of Bank of China Ltd. (OTC: BACHY) was halted on the Hong Kong stock exchange yesterday for no specified reason. Shares did continue to trade on the Shanghai exchange. Presumably the halt had something to do with the bank’s announcement today that it would initiate a rights issue on both the Shanghai [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 8:57 am

Why Plummeting Home Sales Matter

By Max Fisher of The Atlantic Wire U.S. pending home sales, home construction, and mortgage applications all declined significantly in May, according to newly released statistics. While the drop was expected due to an expiring federal tax-credit for home buyers, it fell at twice the expected rate of 15 percent, meaning that sales decreased by [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 8:21 am

Barclays Assistant May Get Canned For Warning Company Of One Exec’s STD-Spreading Habit



So, first off, Miranda Barker didn’t mean to send her email, re: a higher-up getting pawsy with the staff and spreading his STD’s around the firm like it was his job, to all of Barclays Capital. She just meant to send it to the secretaries, who were the guy’s targets. But, you know, shit happens. Apparently Barker was a little tipsy when she sent out the message and who among us hasn’t accidentally cc’ed our entire address book when warning people of a co-worker’s aggressive attempts to spread his gonorrhea* like wildfire?

Executive PA Miranda Barker fired off the alert to every secretary at investment giant Barclays Capital – but the message was then passed on to thousands of people. She said the rat was “sleeping his way around all of the secretaries”. She also described how he had tried it on with her. Miranda declared: “He was very persistent.” She claimed a pal who had just left the company had asked her to pass on the warning because she had contracted a sexually transmitted disease from him. Miranda, who is in her early 20s, added: “I have seen him in action personally – watch out for him.” She also included a description of the man.

The email, sent from her account, even copied him and all his bosses in on it – along with hundreds of secretaries across all the investment bank’s HQ in London’s Canary Wharf. But it spread to thousands as stunned staff forwarded it on to pals. Barclays is now deciding what action to take against the sender.

*I don’t actually know i it was gonorrhea but it seems like a good guess.




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Investment Banks - Barclays - London - Canary Wharf - Barclays Capital
Source: Dealbreaker | 2 Jul 2010 | 8:16 am

Icahn Can Just Say No at Lions Gate

Carl Icahn didn’t get what he wanted in his $7/share tender offer for Lions Gate Entertainment Inc. (NYSE: LGF), but he got enough. Icahn’s extended offer period ended June 30th with the billionaire investor boosting his share of the company to about 34%. The stake does not give him control of the company, but, under [...]

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Source: 24/7 Wall St. | 2 Jul 2010 | 8:16 am

European stocks up on US jobs report (AP)

A currency trader stretches in front of a screen showing the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange Bank headquarters in Seoul, South Korea, Wednesday, June 30, 2010. Asian markets tumbled Wednesday, extending a worldwide plunge in stocks as evidence mounted that the global economic recovery might be stumbling.   (AP Photo/Ahn Young-joon)AP - European markets rose Friday after a U.S. jobs report showed private-sector hiring in the world's largest economy continued growing in June, although not as fast as expected or hoped.



Source: Yahoo! News: Stock Markets News | 2 Jul 2010 | 8:08 am

Jobs Picture: Still Bleak

by Jacob Goldstein

Unemployment rate
Alyson Hurt/NPR

The unemployment rate fell a bit in June.

The government's big monthly jobs report is out this morning. It paints a picture of a weak labor market that's creeping sideways — not getting much worse, but not getting better either.

The report's two headline numbers are both a bit misleading on the surface. One's not as bad as it sounds. The other's worse than it sounds.

1. The total number of jobs fell by 125,000 in June.

Why that's not as bad as it sounds: The loss of jobs was driven largely by the Census Bureau, which cut 225,000 temp jobs during June. The private sector — the key engine of long-term job growth — added 83,000 jobs during June.

2. The unemployment rate fell to 9.5 percent, the lowest level in almost a year.

Why that's worse than it sounds: The unemployment rate includes only people who are looking for work and can't find it. The rate fell in June not because more people had jobs, but simply because fewer people were looking for work.

Also in this morning's jobs report:

The unemployment gender gap widened: The unemployment rate for women fell to 7.8 percent. The unemployment rate for men rose slightly to 9.9 percent.

Among the unemployed, nearly half have been unemployed for more than six months.

The private sector has added 593,000 jobs so far this year. But there are still 7.9 million fewer private-sector jobs than there were in December 2007.


Source: NPR Blogs: Planet Money | 2 Jul 2010 | 7:50 am

Corus Bankshares, Wilmington Archdiocese: Bankruptcy Review


Source: Bloomberg - All Podcasts | 2 Jul 2010 | 7:33 am

Opening Bell: 07.02.10



Goldman Defends AIG Deals (WSJ)
Documents released by the panel showed Goldman repeatedly valued these securities lower than rivals did, demanding additional money from AIG, which was insuring against losses in the securities. These and other banks’ collateral demands strained AIG, which was bailed out by the U.S. government in September 2008. At the time, Goldman had placed a trading bet with the firm’s money against the mortgage market. Lower valuations, or “marks,” would have made that bet more profitable. Goldman executives defended their practices. “Our marks were based on actionable prices, informed by market information from comparable transactions,” David Lehman, a Goldman managing director, told members of the Financial Crisis Inquiry Commission.

AIG CEO and chairman to work out differences (Reuters)
Benmosche told the board at a meeting last week he wanted Golub to leave the company and would himself resign if that did not happen. The issue for Benmosche was that if the board were making such decisions, what was he doing as chief executive, the source said, declining to be named because these talks are private. The two sides had to work that through, and there is “a conciliatory direction now,” the source said, adding that everyone was dedicated to paying back taxpayers.

BP’s Relief Well for Plugging Oil Leak Is Ahead of Schedule (Bloomberg)
This deserves a pat on the back.

Energy Hedge Funds Close After Investor Withdrawals (Bloomberg)
At least six funds managing more than $158 million shut in the first half, including four in May and June, according to data compiled by Bloomberg. London-based Rampart Capital LLP succumbed after failing to reach “critical mass” within nine months of opening, according to Chief Investment Officer Marcello Romano.

Some NY Hedge Fund Execs May Escape New Tax (Reuters)
Hedge fund executives who commute from Connecticut or New Jersey to offices in New York might escape having to pay income taxes on their investment profits after all, Governor David Paterson said Thursday. Another way of extracting more money from the ultra-rich — halving the state’s charitable deduction to 25 percent for people whose yearly incomes top $10 million — also might fall by the wayside, the Democratic governor told WOR radio. “It might be far more responsible for us to revisit that issue, particularly about the hedge fund managers, because according to Mayor Bloomberg, and he told me this yesterday, all they have to do is basically change their addresses,” Paterson said.

Companies Push for Clarity on Derivatives Regulation (WSJ)
“I’m worried about the financial institutions taking the end users in effect as hostages to get out from under some of these requirements,” said Rep. Barney Frank.




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Hedge fund - Financial Crisis Inquiry Commission - New Jersey - Investing - Business
Source: Dealbreaker | 2 Jul 2010 | 7:30 am

Deutsche Bank Lists ETFs on London Exchange: Audio


Source: Bloomberg - All Podcasts | 2 Jul 2010 | 7:30 am

£1bn Gift Aid boost for charities

Charities have reclaimed more than £1bn in a year from the taxman for the first time, figures show.
Source: BBC News | Business | World Edition | 2 Jul 2010 | 7:23 am

Today’s Best Market (7/2/1010)

Updated throughout the day. The Toyota (NYSE: TM) recalls of 270,000 cars will cost $228 million. (Reuters) Sanofi-Aventis SA is considering large acquisitions in the US  (Bloomberg) Lionsgate has set a poison pill to thwart Carl Icahn Douglas A. McIntyre Filed under: Rumors Tagged: Carl Icahn, Liosgate, TM

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Source: 24/7 Wall St. | 2 Jul 2010 | 7:11 am

Top Day Trader Alerts (ARNA, BHP, BP, DNDN, HITK, LNCR, SQNM)

Several stocks are on the move for day trader and active trader alerts ahead of the three-day weekend. Today’s big movers are Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), BHP Billiton Ltd. (NYSE: BHP), BP plc (NYSE: BP), Dendreon Corp. (NASDAQ: DNDN), Hi-Tech Pharmacal Co. (NASDAQ: HITK), Lincare Holdings Inc. (NASDAQ: LNCR), and Sequenom Inc. (NASDAQ: SQNM).  [...]

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

Geoffrey Wawro Discusses `Quicksand': Lewis Lapham


Source: Bloomberg - All Podcasts | 2 Jul 2010 | 6:57 am

BNP's Stannard, ING's Carnell on U.S. Jobs: First Word


Source: Bloomberg - All Podcasts | 2 Jul 2010 | 6:55 am

Unemployment: First Signs of Improvement? (Early Bird)

The unemployment rate improved in June, but government budget cuts could depress jobs.



Source: SmartMoney.com | 2 Jul 2010 | 6:49 am

When Copywriters Are Sports Fans



Source: Business Pundit | 2 Jul 2010 | 5:36 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