|
|
|
|
Risk in retreat as US growth fears returnGlobal Markets Overview: The FTSE All-Word equity index is down, industrial commodities have softened and the dollar has moved higher as worries about US economic prospects returnSource: Financial Times - US homepage | 7 Jul 2010 | 4:08 am Indications: U.S. stock futures point to weaker startU.S. stock futures were pointing to a weaker start for Wednesday, with slowing growth worries continuing to hang over investors and global markets weak after Wall Street nearly lost its grip on gains in the prior session.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 4:05 am Obama naming 18 to advisory council on exports (AP)AP - President Barack Obama is naming 18 corporate chiefs to an advisory council charged with helping the administration fulfill his promise to double U.S. exports and create millions of new jobs over the next five years.Source: Yahoo! News: Business News | 7 Jul 2010 | 4:01 am Equity 'being used to pay debts'Some pensioners are unlocking equity from their homes as a last resort to use to pay off debts, a report finds.Source: BBC News | Business | World Edition | 7 Jul 2010 | 3:55 am Agbank share offer set for recordChina's third biggest state-owned bank looks set to raise a world record sum in its first public share sale, reports suggest.Source: BBC News | Business | World Edition | 7 Jul 2010 | 3:54 am Air traffic improved in June for European airlinesPassenger traffic improved for most European airlines in June, according to figures released this week, feeding industry hopes they could soon start adding capacity and raising ticket prices.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 3:52 am Walmart Sam’s Club To Offer Small Business LoansThe Sam’s Club division of Walmart (NYSE:WMT), which primarily does business with small companies, means to do what banks will not. It has started a test program to offer loans of as much as $25,000 to its members. The move is carefully calculated and based on business loan trends that have been in place since [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jul 2010 | 3:50 am Asian markets cautious after negative US data (AFP)
Source: Yahoo! News: Stock Markets News | 7 Jul 2010 | 3:47 am Public sector pension reform callPublic sector pensions cost twice as much as previously thought and require radical reform, a commission concludes.Source: BBC News | Business | World Edition | 7 Jul 2010 | 3:40 am Iran backs down on tax hike after merchant protest (AP)AP - Protests by merchants in Tehran's main bazaar forced authorities to back off of plans to increase taxes on their businesses, Iranian media reported Wednesday, in a sign of the government's difficulties in implementing economic reforms.Source: Yahoo! News: Business News | 7 Jul 2010 | 3:39 am M&S sales rise in first quarterMarks and Spencer sees its third consecutive rise in quarterly sales as the retailer reports a "good" performance.Source: BBC News | Business | World Edition | 7 Jul 2010 | 3:33 am Asia markets mostly down as techs, banks declineAsian stocks largely declined Wednesday after weak U.S. data refueled worries about the strength of the global economic recovery. Technology shares dropped, unimpressed by Samsung Electronics’ forecast of a record operating profit.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 3:33 am OECD: Rich country unemployment may have peaked (AP)AP - Unemployment in rich countries may have peaked — but they must create 17 million jobs if they want to return to pre-crisis employment levels, the OECD said Wednesday.Source: Yahoo! News: Business News | 7 Jul 2010 | 3:30 am BP CEO Hayward meets potential investors in UAE: sourceABU DHABI (Reuters) - BP Chief Executive Tony Hayward has met with representatives of the Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, a UAE official source said on Wednesday.
Source: Reuters: Business News | 7 Jul 2010 | 3:29 am BP CEO Hayward meets potential investors in UAE: source (Reuters)
Source: Yahoo! News: Business News | 7 Jul 2010 | 3:29 am US home sales dive on tax changeThe number of sales contracts signed for previously-owned homes plummeted in May with the removal of a tax break for buyers.Source: BBC News | Business | World Edition | 7 Jul 2010 | 3:28 am China won't dump U.S. Treasuries or pile into goldBEIJING (Reuters) - China on Wednesday ruled out the "nuclear" option of dumping its vast holdings of U.S. Treasury securities but called on Washington to be a responsible guardian of the dollar.
Source: Reuters: Business News | 7 Jul 2010 | 3:26 am American Consumer Spending Plunges As Caution GrowsSelf-reported spending among American consumers fell sharply in June as compared to May, down from $72 per person to $67. The June figure is up from the same month last year, but only by $6. That spending is still well below the level in 2008. The data, collected by Gallup suggests that spending improves as [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jul 2010 | 3:23 am How businesses survive recallsWhen a major company is in the middle of an embarrassing crisis, it can be hard for demoralized staff to keep pushing the company tagline. That's why more and more companies are leaving the messy details of pulling products and defending the company brand to experts who have been there before: crisis public relations firms.Source: Business and financial news - CNNMoney.com | 7 Jul 2010 | 3:22 am EU says Greece reforms broadly on trackBRUSSELS (Reuters) - Economic reforms intended to pull Greece out of recession and help it resolve a sovereign debt crisis are broadly on track, despite some slippage, the European Commission said.
Source: Reuters: Business News | 7 Jul 2010 | 3:20 am Tesla falls below $17 offer priceShares in electric car firm Tesla fall below their offer price of $17 a week after debuting in New York.Source: BBC News | Business | World Edition | 7 Jul 2010 | 3:18 am Solar plane takes off for 24-hour test flight (AP)
Source: Yahoo! News: Business News | 7 Jul 2010 | 3:15 am OECD warns on long-term joblessUnemployment levels worldwide are set to remain high amid increasing fears that some elements of joblessness could become entrenched and even more difficult to solve, the organisation has warnedSource: Financial Times - US homepage | 7 Jul 2010 | 3:15 am Easy does it for ECB as euro worries subsideLulls don’t last, but European Central Bank President Jean-Claude Trichet probably hopes the breathing space afforded by recent events will provide an opportunity to engage in a bit of confidence-building when he holds his monthly news conference on Thursday.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 3:15 am For cut-rate dental care, head to MexicoA good smile can be a pricey proposition in the U.S., where barely half the population has dental insurance and routine procedures can run up four-figure bills. Want a porcelain crown for a damaged tooth? That'll cost $945, on average.Source: Business and financial news - CNNMoney.com | 7 Jul 2010 | 3:14 am Currencies: Dollar mostly up in Asian trade, but slips vs. yenTOKYO (MarketWatch) -- Currency markets took a cue from mostly sagging Asian equity markets on Wednesday, to the benefit of lower-yielding units such as the U.S. dollar and Japanese yen.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 3:06 am Two-Year Treasury Yields Move Toward Zero, A Chance For More StimulusWhat is a safe haven investment worth? The yield on two-year notes has dropped to near .6%. The drop in global stock markets, and fear of a rise in the financial troubles of Europe, and a belief that corporate earnings could be battered in the second half of the year has caused the cautious to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jul 2010 | 3:04 am UPDATE 1-Deals of the day -- mergers and acquisitionsJuly 7 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Wednesday. (For Reuters columns on deals, click on...Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 3:03 am REFILE-BP CEO meets UAE sovereign wealth fund ADIA-sourceABU DHABI, July 7 (Reuters) - BP Chief Executive Tony Hayward has met with representatives of the Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, a UAE official...Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 3:01 am Teach your teen paycheck savvyCongrats! Your kid landed a summer job in this tight, tight economy.Source: Business and financial news - CNNMoney.com | 7 Jul 2010 | 2:59 am London Markets: British shares trade lower as miners pressureLONDON (MarketWatch) -- British shares traded lower on Wednesday, giving back some of the previous session's steep advance, with retailer Marks & Spencer and building materials group Wolseley under pressure.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 2:59 am EU bank watchdogs set to detail stress testsLONDON (Reuters) - European Union bank regulators were expected to reveal on Wednesday how tough their health checks of the region's banks will be, in the hope of restoring confidence to markets worried about ballooning public debt.
Source: Reuters: Business News | 7 Jul 2010 | 2:58 am Business Bullet: US earnings, M&S, Retail prices, GoldThe latest news on: US earnings, M&S, Retail prices, GoldSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jul 2010 | 2:56 am Cautious Marks & Spencer reports sales riseMarks & Spencer on Wednesday reported a 3.6% rise in first-quarter U.K. comparable sales as the bellwether retailer continued to improve its market share in clothing, though the group also said it remained cautious over the outlook for consumer spending.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 2:56 am Peugeot's first-half unit sales rise 17%Sales of new vehicles at PSA Peugeot Citroen SA soared nearly 17% in the first half of the year, buoyed by strong growth in China and an increase in the French firm’s market share in Europe.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 2:54 am HSBC clients scrutinized in U.S. tax evasion probeNEW YORK/CHARLOTTE, North Carolina (Reuters) - The Department of Justice has opened a criminal investigation into whether some HSBC Holdings Plc clients may have failed to disclose offshore accounts, lawyers familiar with the probe said on Tuesday.
Source: Reuters: Business News | 7 Jul 2010 | 2:53 am HSBC clients scrutinized in U.S. tax evasion probe (Reuters)Reuters - The Department of Justice has opened a criminal investigation into whether some HSBC Holdings Plc clients may have failed to disclose offshore accounts, lawyers familiar with the probe said on Tuesday.Source: Yahoo! News: Business News | 7 Jul 2010 | 2:53 am Stocks set for shaky startU.S. stocks were set for a mixed open Wednesday, as ongoing worries about the global recovery persisted.Source: Business and financial news - CNNMoney.com | 7 Jul 2010 | 2:52 am EU imposes flight ban on Iran AirMost Iran Air jets will be banned from flying to the EU because of safety concerns, the European Commission says.Source: BBC News | Business | World Edition | 7 Jul 2010 | 2:51 am Japan TV halts sumo amid scandalJapan's next sumo tournament will not appear on live TV for the first time in 50 years due to a gambling scandal.Source: BBC News | Business | World Edition | 7 Jul 2010 | 2:47 am World stock markets fall despite Wall Street gains (AP)
Source: Yahoo! News: Stock Markets News | 7 Jul 2010 | 2:44 am Risk in retreat as US growth fears returnWednesday 09:20 BST. Risk is again in retreat as the previous session's rally proves short-lived. The FTSE All-Word equity index is down 0.6 per cent, industrial commodities are softer and the dollar is...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 2:24 am Stock futures signal dip along with world stocks(Reuters) - Stock index futures pointed to a lower open on Wall Street on Wednesday after the previous session's tepid gains, with futures for the S&P 500 down 0.2 percent, Dow Jones futures down 0.3 percent and Nasdaq 100 futures down 0.4 percent at 4 a.m. EDT.
Source: Reuters: Business News | 7 Jul 2010 | 2:22 am Stock futures signal dip along with world stocks(Reuters) - Stock index futures pointed to a lower open on Wall Street on Wednesday after the previous session's tepid gains, with futures for the S&P 500 down 0.2 percent, Dow Jones...Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 2:22 am Stock futures signal dip along with world stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 7 Jul 2010 | 2:22 am CORRECTED - CORRECTED-(July 6)-UPDATE 1-FTI Consulting cuts 2010 outlook(Corrects first bullet point and paragraph 1 to show the outlook cut was not for the second time this year. Also corrects company name in paragraph 3)Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 2:21 am US demands notice of BP dealingsThe US government asks troubled oil giant BP to tell it of any major asset sales or merger deals in advance.Source: BBC News | Business | World Edition | 7 Jul 2010 | 2:20 am Economic slowdown worries hit global stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 7 Jul 2010 | 2:14 am US space firm to cut 1,000 jobsThe main US space contractor cuts more than 1,000 jobs after Nasa's decision to wind up its space shuttle programme.Source: BBC News | Business | World Edition | 7 Jul 2010 | 2:13 am Farm workers: Take our jobs, please!Facing growing anti-immigrant rhetoric, the United Farm Workers union is challenging Americans to take their labor-intensive, low-paying farm jobs.Source: Business and financial news - CNNMoney.com | 7 Jul 2010 | 2:13 am IBM's sex and trading scandalAt 7:30 in the morning on Oct. 16, 2009, Robert Moffat had already been at his desk at IBM's headquarters in Armonk, N.Y., for an hour and a half. As he had almost every day in his 31-year career at the company, he had left home at 5:30 a.m. to get a jump on work. He had just finished his first call of the day when his phone rang. It was his wife, Amor.Source: Business and financial news - CNNMoney.com | 7 Jul 2010 | 2:11 am EU says Greece reforms are broadly on trackBRUSSELS (Reuters) - Greece's fiscal and structural reforms, intended to pull it out of recession and end a sovereign debt crisis, are on track despite some shortcomings, the European...Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 2:05 am Credit card delinquencies fall to 8-year lowAmericans are not as far behind on their bills as a year ago.Source: Business and financial news - CNNMoney.com | 7 Jul 2010 | 2:04 am CRH shares slump on cautious U.S., Europe viewShares in CRH slumped as much as 9% as the Irish building materials group said its first half operating profit will drop 20% and that annual comparable sales will drop more than anticipated.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 2:03 am Peugeot Citroen reports historic sales jumpStrong global growth, new models, sales to China and an environmental focus helped French auto group PSA Peugeot Citroen to record high sales in the first half, the group said on Wednesday.Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 1:55 am Media Digest 7/7/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: BP plc (NYSE: BP) shares have recovered as a relief well nears the leak. Reuters: Saudi investors are seeking a 10% to 15% stake in BP. Reuters: Microsoft Corporation (NASDAQ: MSFT) will cut a small number of jobs. Reuters: Borders launched an e-book store. Reuters: Sony (NYSE: SNE) cut its e-reader price to better [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jul 2010 | 1:55 am National Bank of Oman Sees Growth in Trade Finance and Expands Business by Deploying Misys SolutionSource: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 1:54 am Europe Markets: Europe stocks decline, as miners, CRH, M&S dropEuropean shares declined on Wednesday, paring strong gains made in the previous session, as miners lost ground and updates from building materials group CRH and retailer Marks & Spencer also weighed.
Source: MarketWatch.com - Top Stories | 7 Jul 2010 | 1:54 am FTSE 100's rally fades as traders book profitsOnly two FTSE 100 constituents made gains in London on Wednesday after the previous session's strong and broad-based rally prompted a swift round of profit taking. But talk of overseas bid interest...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:53 am FTSE 100 slides at open (AFP)
Source: Yahoo! News: Stock Markets News | 7 Jul 2010 | 1:48 am FTSE 100 slides as growth fears resurfaceIndex falls as investors book profits a day after the sharpest one-day rise in five weeks and jitters over growth reignite.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jul 2010 | 1:46 am Hayward meets Middle East investorsThe oil group’s chief executive is visiting Abu Dhabi, home to some of the world’s largest sovereign wealth funds, in the latest leg of a trip that has already taken him to Russia and AzerbaijanSource: Financial Times - US homepage | 7 Jul 2010 | 1:43 am Samsung profit to slow on Europe after record Q2SEOUL (Reuters) - Samsung Electronics' record quarterly profit failed to please investors as a weak European economy looks set to weaken demand for flat screens and chips, hurting profitability at the world's largest memory chipmaker.
Source: Reuters: Business News | 7 Jul 2010 | 1:43 am BP's Hayward flies to Mideast to meet 'partners'BP's embattled chief executive is in the Emirati capital Abu Dhabi to meet with the company's business partners there. The visit comes amid speculation that BP might be looking for...Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 1:42 am Greek strike to disrupt flights and transportDozens of flights through Greece will be disrupted on Thursday by a general strike against pension reform that will also paralyse other forms of transport and public services, officials...Source: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 1:41 am China's AgBank may raise $22 billion in record IPOAgricultural Bank, the last of China's big state owned banks to go public, is set to raise more than $22 billion from an initial public offering, defying global market weakness to stage theSource: RSS feed - channel BNewsBusiness | 7 Jul 2010 | 1:41 am Crafar coy on whether he can pay debtsAllan Crafar is being uncharacteristically coy about whether he's been able to come up with money needed to settle his debts, despite earlier assurances that he would.The embattled head of the Crafar dairy empire was this afternoon...Source: nzherald.co.nz - Business | 7 Jul 2010 | 1:25 am Peugeot Citroen has best half-year ever for sales (AP)AP - Strong demand for new cars in China helped French auto maker PSA Peugeot Citroen SA report Wednesday a record number of unit sales in the first half of the year.Source: Yahoo! News: Business News | 7 Jul 2010 | 1:25 am M&S austerity fears overshadow sales riseMarks & Spencer sales rose for a third quarter, but the rate is slowing and the retailer was cautious about the outlook.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jul 2010 | 1:22 am Control Components exec extradited to face U.S. bribery chargesFlavio Ricotti, an Italian citizen and head of the Orange County firm's sales for Europe, Africa and the Middle East, is one of six former executives accused of paying to get contracts.An Italian citizen who worked as an overseas executive for an Orange County valve company has been extradited to the United States to face international bribery charges alongside five other company leaders, federal authorities said Tuesday.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am U.S. to crack down on smearing of olive oil's reputationA lack of federal rules has made the nation the dumping ground for cheap, adulterated and even dangerous oils. The USDA wants to make sure people who buy 'extra virgin' oil get what they pay for.The federal government has become serious about virginity — at least when it comes to olive oil.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am Bebe Stores to discontinue PH8 brand less than a year after launching itContemporary women's apparel retailer Bebe Stores Inc. said Tuesday that it would discontinue operations of its unprofitable PH8 division, less than a year after launching the retail concept.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am Microsoft makes a new push into cellphone operating systemsThe tech giant, which now has a small and shrinking share of the market, plans to introduce an all-new system, Windows Phone 7, in the fall.Microsoft is the undisputed king of operating systems — except for the ones you hold in your hand.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am Phone giants' proposal to drop some 911 lines strongly backed by California lawmakersBill would end a requirement to maintain home lines capable only of calling a 911 center even after service is cut. Backers call it a waste of resources. An opponent says his side is being outspent.With subscribers increasingly dropping their land lines for wireless and Internet calling, California's telephone companies are lobbying the Legislature to let them abandon large portions of the state's 911 emergency calling system.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am What it took to film 'The Last Airbender' in icy GreenlandOnly nine of 80 days were shot in Greenland, but they required months of preparation, including constructing and transporting 11 igloos and packing lots of silk underwear and insulated shoes.When it comes to film locations, few could be considered as forbidding as Greenland.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am Control Components exec extradited to face U.S. bribery chargesFlavio Ricotti, an Italian citizen and head of the Orange County firm's sales for Europe, Africa and the Middle East, is one of six former executives accused of paying to get contracts. ...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am Bebe Stores to discontinue PH8 brand less than a year after launching itContemporary women's apparel retailer Bebe Stores Inc. said Tuesday that it would discontinue operations of its unprofitable PH8 division, less than a year after launching the retail concept.Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am UC takes scientific journals to task over feesA proposed 400% increase in the online access fee by one publisher has some academic researchers questioning the pay model.People who cite Stewart Brand's insight that "information wants to be free" almost always forget the rest of the quote, which is: "Information also wants to be expensive."
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am Netflix makes deal to distribute Relativity Media's films on its Internet streaming serviceIf you can't join 'em, compete against 'em.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am Netflix makes deal to distribute Relativity Media's films on its Internet streaming serviceIf you can't join 'em, compete against 'em.Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am Phone giants' proposal to drop some 911 lines strongly backed by California lawmakersBill would end a requirement to maintain home lines capable only of calling a 911 center even after service is cut. Backers call it a waste of resources. An opponent says his side is being outspent. ...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am U.S. to crack down on smearing of olive oil's reputationA lack of federal rules has made the nation the dumping ground for cheap, adulterated and even dangerous oils. The USDA wants to make sure people who buy 'extra virgin' oil get what they pay for. ...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am Auto sales put on the brakesIndustry analysts trim forecasts for 2010 as fewer shoppers show up at dealerships.Wall Street is starting to talk about a worse year for car sales than analysts had anticipated, but automakers and suppliers may be better prepared to handle falling expectations than they were last year.
Source: L.A. Times - Business | 7 Jul 2010 | 1:00 am Sony Pictures Television plans to launch two cable channelsThe studio hopes to capitalize on its extensive film library. Responding to the changing revenue picture for...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am Microsoft makes a new push into cellphone operating systemsThe tech giant, which now has a small and shrinking share of the market, plans to introduce an all-new system, Windows Phone 7, in the fall. ...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am What it took to film 'The Last Airbender' in icy GreenlandOnly nine of 80 days were shot in Greenland, but they required months of preparation, including constructing and transporting 11 igloos and packing lots of silk underwear and insulated shoes. ...Source: RSS feed - channel BNPaperBusiness | 7 Jul 2010 | 1:00 am Toyota to extend development time to ensure qualityTOYOTA CITY, Japan (Reuters) - Toyota Motor Corp will extend the time it takes to develop its vehicles by an average of four weeks in a bid to ensure quality following a string of high-profile recalls, a top executive said.
Source: Reuters: Business News | 7 Jul 2010 | 12:56 am Booz and AT Kearney end merger talksThe two management consulting firms say their ‘future aspirations will be best realised as separate partnerships’Source: Financial Times - US homepage | 7 Jul 2010 | 12:43 am Saudi investors eye 10-15 percent stake in BP: reportRIYADH (Reuters) - Unnamed Saudi investors seek to buy a stake worth 10 to 15 percent in British oil company BP dealing with a massive U.S. oil spill, a Saudi newspaper said in an unsourced report on Wednesday.
Source: Reuters: Business News | 7 Jul 2010 | 12:34 am Africa prospects lure investors, but is it ready?SAO PAULO (Reuters) - Africa offers among the world's best investment prospects as emerging markets grow ever more important, although its economies risk being destabilized by the slew of capital they stand to attract in coming years.
Source: Reuters: Business News | 7 Jul 2010 | 12:24 am Hong Kong luxury flat deal raises questions (AP)
Source: Yahoo! News: Business News | 7 Jul 2010 | 12:21 am Currency: NZ dollar drifts lowerThe New Zealand dollar traded in a fairly narrow range today against a backdrop of settled equity markets as caution about the global economic outlook continued.By 5pm the NZ dollar had drifted lower to US69.18c from US69.33c...Source: nzherald.co.nz - Business | 6 Jul 2010 | 11:41 pm AP IMPACT: Gulf awash in 27,000 abandoned wells (AP)
Source: Yahoo! News: Business News | 6 Jul 2010 | 10:49 pm Landcorp in joint venture for farmsLandcorp Farming, the country's biggest farmer, has entered into a joint venture with Wairakei Pastoral to bid for the Crafar family farms.The venture, if successful, would see a new company half-owned by Landcorp and half-owned...Source: nzherald.co.nz - Business | 6 Jul 2010 | 9:31 pm ISM says service sector growth slows in JuneThe service sector grew more slowly in June, an industry trade group said Tuesday, offering the latest sign that growth could weaken in the second half of the year.
Source: L.A. Times - Business | 6 Jul 2010 | 8:17 pm Further bids on Crafar farms likelyThe receivers for the Crafar empire are expecting further tenders will be lodged before bids close for the farms in about two hours.Michael Stiassny and Brendon Gibson from KordaMentha said there had been significant interest...Source: nzherald.co.nz - Business | 6 Jul 2010 | 7:52 pm GM’s CEO Edward Whitacre, Jr: The Great PretenderEd Whitacre, the former chairman and CEO of AT&T and current head of GM looks like the Wizard of Oz scarecrow—tall and under-stuffed. Whitacre, however, can afford to buy new straw. He took over as chairman of GM on July 10, 2009. He initially showed a great deal of support for CEO Fritz Henderson, but [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jul 2010 | 6:44 pm Instant view: Samsung estimates record Q2 profit on chips, LCDs (Reuters)Reuters - Samsung Electronics, the world's No.1 memory chip maker, said it was on course to report a record quarterly profit, powered by robust sales of memory chips and flat screens in a strong consumer electronics market.Source: Yahoo! News: Business News | 6 Jul 2010 | 6:32 pm Landcorp's Crafar farm bid 'best chance' to retain NZ controlReal Estate Institute boss Peter McDonald has endorsed a bid by state-owned farmer Landcorp to purchase the Crafar empire which he says could be this country's best chance of retaining local control of the properties.It was unlikely...Source: nzherald.co.nz - Business | 6 Jul 2010 | 6:00 pm Presented By:Source: Dealbreaker | 6 Jul 2010 | 5:53 pm Write-Offs: 07.06.10
$$$ Supreme Judicial Court Rules Against Phil “What’s The Big Deal? It’s Not Like We’re Planning A Kidnapping” Goldstein (a not oft-mentioned DealBreaker favorite, who deserves a monument erected in New Jersey, taller than the Goldman Sachs tower in Jersey City, of him holding a copy of the Bill of Rights in one hand and bill galvin’s testicles in the other). [FINalternatives] $$$ Lloyd Blankfein doesn’t want another stinking wine bar on the UWS. [DNAI] $$$ New Funds Bounce Back [AR]
 Source: Dealbreaker | 6 Jul 2010 | 5:53 pm Apple bans apps after iTunes breachApple has banned dozens of applications from its iTunes digital store after bogus purchases from hundreds of compromised customer accounts drove the apps to the top of the popularity charts for paid electronic booksSource: Financial Times - US homepage | 6 Jul 2010 | 5:34 pm Dominion, North South Finance directors chargedThe Securities Commission has pressed charges against the directors of Dominion Finance and North South Finance over offer documents which it alleges were misleading.The Dominion Finance Group went into receivership in September...Source: nzherald.co.nz - Business | 6 Jul 2010 | 5:32 pm Dairy prices down 14pc in Fonterra online auctionFonterra has reported milk powder prices in its monthly internet auction fell around 13.7 per cent in its auction overnight as supplies started rising in response to higher prices in previous months.The globalDairyTrade TWI index...Source: nzherald.co.nz - Business | 6 Jul 2010 | 5:30 pm HSBC clients caught up in US tax evasion probeThe US justice department has informed several HSBC customers that they are the subjects of an investigation into potential tax evasion, people familiar with the situation saidSource: Financial Times - US homepage | 6 Jul 2010 | 5:20 pm Bob Moffat Will Drown The Next Person Who Tries To Suggest His Relationship With Danielle Chiesi Was Just About Sex
 SO. MUCH. CLARITY. Drown them in his tears, that is. (For those of you keeping up at home the answer is yes, this is the second time on record the former IBM exec has cried on record re: Chiesi, the fishnet-wearing analyst he traded all kinds of tips with if you’re picking up what I’m throwing down and I think you are.)
Oh, god, and there’s also this:
Inside IBM’s Sex And Trading Scandal [CNN Money]
Source: Dealbreaker | 6 Jul 2010 | 5:01 pm Small firm slump a warning signSmaller businesses led a decline in business confidence in the New Zealand Institute of Economic Research's quarterly survey of business opinion."It's small firms experiencing renewed weakness," said NZIER's principal economist...Source: nzherald.co.nz - Business | 6 Jul 2010 | 5:00 pm The Tuesday Podcast: The Pain-In-The-Butt Index
David Kestenbaum/NPR
On today's Planet Money, we meet Jonathan Bush — former ambulance driver, former co-owner of a birthing center, and cousin of a former President of the United States. More to the point: He's also the CEO of athenahealth, a public company that doctors pay to manage their billing. Medical billing is ridiculously complicated. Each insurance company has its own set of rules. The industry still seems stuck in the '80s in some ways: The average doctor gets about 1,000 faxes each month, according to Bush. In some ways, health care just is complicated. Still, some insurers seem to make it more complicated than it has to be. Athenahealth deals with more than 1,700 different insurance companies. And it's put together a "Pain-in-the-Butt index" that ranks insurers based on how hard it is to deal with them. Here's the list. For more on Bush, athenahealth, and the economics of medical billing, read our post from last week. Download the podcast, or Subscribe. Music: Lil Wayne's "Dr. Carter." Find us: Twitter/ Facebook/ Flickr. Source: NPR Blogs: Planet Money | 6 Jul 2010 | 4:55 pm Firm start by NZ sharemarketThe New Zealand sharemarket started the day firmly after world stocks posted their biggest one-day gain in nearly a month with shares at attractive levels following recent drubbings.Today's early gains in this country follow a...Source: nzherald.co.nz - Business | 6 Jul 2010 | 4:46 pm KKR & Co. shares to trade on NYSE on July 15 (AP)AP - KKR & Co. LP, the parent of private equity firm Kohlberg Kravis Roberts, said Tuesday that it will list its shares on the New York Stock Exchange on July 15.Source: Yahoo! News: Stock Markets News | 6 Jul 2010 | 4:32 pm Fran O'Sullivan : Pandering to China on Key agendaPrime Minister John Key will launch his own version of "Panda diplomacy" in Beijing today.Key is well-versed in financial swap arrangements. It's inevitable his, "My two kiwis for your vastly discounted pair of pandas" will provide...Source: nzherald.co.nz - Business | 6 Jul 2010 | 4:30 pm US and Israel patch up relationshipBarack Obama struck a conciliatory note towards Israel when he described Benjamin Netanyahu as a leader ‘willing to take risks for peace’ and held out hope of direct Israeli-Palestinian negotiations within the next two monthsSource: Financial Times - US homepage | 6 Jul 2010 | 4:13 pm Q looking for a new job as QinetiQ cutsJames Bond's gadget guru Q could be joining the dole queue along with more prosaic civil servants, with defence research company QinetiQ set to cut 400 jobs.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jul 2010 | 4:13 pm Headhunters reject Thompson's claim BBC execs could earn 80pc moreHeadhunters have rejected BBC director-general Mark Thompson's claim that the corporations' top bosses could earn up to 80pc more in the private sector.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jul 2010 | 4:09 pm Anadarko trading halted after $99,999.99 quote (AP)AP - Trading in shares of Anadarko Petroleum Corp. was suspended briefly on Tuesday on the New York Stock Exchange after an erroneous trade triggered new individual-stock circuit breaker rules.Source: Yahoo! News: Stock Markets News | 6 Jul 2010 | 4:08 pm Dow ends losing streak as traders buy selectively (AP)AP - ZIGZAG MARKET: The Dow Jones industrial average rose 172 points in the morning, fell into the red by afternoon, then managed a 57-point gain to stop a seven-day slide.Source: Yahoo! News: Stock Markets News | 6 Jul 2010 | 4:06 pm Disney to expand language schools in ChinaThe US media group is set to rapidly expand a schools programme that aims to teach English to 150,000 children a year and deliver earnings of over $100m in the next five yearsSource: Financial Times - US homepage | 6 Jul 2010 | 4:00 pm Dow industrials climb 57 to break seven-day slide (AP)
Source: Yahoo! News: Stock Markets News | 6 Jul 2010 | 3:53 pm How the major stock indexes fared on Tuesday (AP)AP - The Dow Jones industrial average broke a seven-day slide Tuesday after traders sifted through the market for beaten-down stocks. Investors tried to recover some of the big losses that piled up following weeks of disappointing economic reports. The Dow Jones industrial average rose 57 points after dropping 7.3 percent over the past two weeks to its lowest level since October. The steep drop drew traders expecting to see the market bounce.Source: Yahoo! News: Stock Markets News | 6 Jul 2010 | 3:50 pm Number of Britons in permanent jobs drops to lowest level this yearThe number of people placed in permanent jobs fell in June to the weakest level since the start of the year, a survey of recruitment consultants has revealed.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jul 2010 | 3:48 pm Streak-Breaker: Dow Rises 57.14 Points (Market Update)Stocks squeaked out a gain on Tuesday, snapping a seven-session losing streak but showing...
Source: SmartMoney.com | 6 Jul 2010 | 3:45 pm Consumer Reports: Car deals, guaranteedConsumer Reports is now offering a service that, it says, can get car shoppers a guaranteed dealer price quote, without subjecting them to phone calls and emails from salespeople.Source: Business and financial news - CNNMoney.com | 6 Jul 2010 | 3:40 pm BP oil spill: the pressure grows on the company's non-executive directorsWhat have the oil group's four non-execs - each paid £90,000-£115,000 a year to oversee safety, ethics and the environment - been doing?Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jul 2010 | 3:26 pm Delisting Posse Heads to Ambac (FNM, FRE, ABK)We already knew all about the big delistings for Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE). Now the delisting process is heading the way of Ambac Financial Group, Inc. (NYSE: ABK). After the closing bell, the company disclosed that the New York Stock Exchange notified it that the company does not meet the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jul 2010 | 3:14 pm Where Were You On This One, Lucky Brass Balls?!
Related: David Tepper’s Lucky Brass Balls
Source: Dealbreaker | 6 Jul 2010 | 3:06 pm QUIZ: Are you empathetic enough to work in a call center?Do you have what it takes to answer the phones at one of the largest customer service companies in the world? Take our quiz, based on sample questions from Convergys Corporation's entrance exam for new call agents.Source: Marketplace | 6 Jul 2010 | 3:00 pm French Legislators To Careless Tourists: Pay Upby Sarah McBride 
Anonymous/ECPAD-French Defense Ministry
French hostages and their Somali captors aboard the yacht Tanit last year. The hostages were subsequently rescued by the French navy. French legislators are sick of the government picking up the tab whenever French tourists run into avoidable trouble overseas. Now, the National Assembly is considering a bill that could leave careless citizens picking up the tab, according to the Guardian. The inspiration for the legislation: last year's French yacht trips off the East African coast that Somali pirates viewed as an open invitation to come aboard, take hostages, and demand ransoms. The French navy ended up on several costly rescue missions, including one that led to the death of a French hostage. Now, the government wants globetrotting citizens who need rescuing from holidays in known troublespots to pay up. Some are criticizing the legislation, accusing the government of abdicating its responsibilities. But the French foreign minister disagrees. "We always intervene at the far ends of the planet in order to save our compatriots," Bernard Kouchner told the National Assembly. The French Senate passed the bill last month. Americans in similar circumstances sometimes have to pay. In 2006, thousands of U.S. citizens rescued after a bombing in Beirut, Lebanon were surprised to hear the government planned to bill them for their rescues. Eventually, Secretary of State Condoleeza Rice waived the fees that would have come due. Abby Sunderland, the 16-year-old sailor who was recently plucked from the Indian Ocean after her around-the-world voyage ran amok, likely won't have to pay for the bulk of her rescue. Although her vessel ran into trouble in international waters, it drifted into the Australian search-and-rescue area, according to World News Australia. The Australian government paid for expenses like chartering a jet to search for Sunderland. The other government with a major role in the search: the French. Source: NPR Blogs: Planet Money | 6 Jul 2010 | 2:54 pm Chinese bank may be world's biggest IPOOne of China's biggest banks is on track to become the largest IPO in history.Source: Business and financial news - CNNMoney.com | 6 Jul 2010 | 2:39 pm The Twenty Poorest Nations In The WorldA thousand dollars or less per person per year in GDP - the consequence of poverty, genocide, years of war, lack of natural resources, poor farm management, and limited access to clean water and health care. This is the follow-up to 24/7 Wall St.’s Twenty Most Productive Nations. Eighteen of the poorest countries by GDP per [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jul 2010 | 2:32 pm KKR founders sitting on $800m stakesKohlberg Kravis Roberts revealed one of private equity’s most closely guarded secrets, divulging that the co-founders of the buy-out firm immortalised in the book Barbarians at the Gate each hold stakes valued at about $800mSource: Financial Times - US homepage | 6 Jul 2010 | 2:27 pm The Great Depression: What It Can't Teach Us (Common Sense)Stewart: Policy from the 1930s offers limited guidance in this recession.
Source: SmartMoney.com | 6 Jul 2010 | 2:25 pm Buyout firm KKR to list on NYSEKohlberg Kravis Roberts & Co., the takeover titan immortalized in the book and television movie "Barbarians at the Gate," will finally start trading on the New York Stock Exchange next week.Source: Business and financial news - CNNMoney.com | 6 Jul 2010 | 2:20 pm Public sector pensions: the full injustice is laid bareThe full injustice of public sector pensions is laid bare today by the Public Sector Pensions Commission.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jul 2010 | 1:50 pm Nouriel Roubini Is Soliciting Tips On How To Become The Maestro Of F*cking
Source: Dealbreaker | 6 Jul 2010 | 1:19 pm Layoffs Watch ‘10: Schonfeld Securities
Schonfeld Dismisses 50 Traders, Cites Rise of Electronic Trades [BW]
Source: Dealbreaker | 6 Jul 2010 | 1:15 pm John Lewis in line for £850,000 Ocado IPO 'fee'John Lewis Partnership, the department store group, will receive a windfall "fee" of £850,000 from Ocado when the online food company floats later this month.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jul 2010 | 1:14 pm MPs propose debate over Rupert Murdoch's £12bn move for BSkyBMPs have called for a debate and regulatory investigation into Rupert Murdoch's proposed £12bn takeover of satellite broadcaster BSkyB.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jul 2010 | 1:06 pm Are Strippers Finally Getting The Thanks They Deserve?
Source: Dealbreaker | 6 Jul 2010 | 1:05 pm Sifting Through Summer Discounts (Deal of the Day)To clear out summer merchandise, retailers are offering deals.
Source: SmartMoney.com | 6 Jul 2010 | 1:02 pm BRIC Alert: Brazilian Consumer ETF Coming (BRAQ, ABV, BRFS, GFA)We are about to get a new ETF this week for investors who love chasing the BRIC trends for Brazil, Russia, India, and China. The Global X Brazil Consumer ETF (NYSE: BRAQ) is set to launch this Thursday. At the launch, the top 13 holdings will have a weighting of about 4.75% each. Some of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jul 2010 | 12:50 pm Even Thieves Don't Want Yellow Carsby Jacob Goldstein 
Parafernalica/Flickr
If you're really worried about somebody stealing your car, try painting it yellow. That could cut the risk of theft roughly in half, according to an analysis by economist Ben Vollaard. It's not only that thieves want a car that blends in, Vollaard argues: They're also looking for a car with a high resale value. And a used car in a popular color like black or silver goes for about $1,000 more than a car in a less popular color, according to data from Holland, where Vollaard's based. In the past few years, red cars have become significantly less popular in Holland, and silver cars have become more popular. During the same time period, the percent of red cars that get stolen has fallen, and the theft risk for silver cars has risen. What's more, he says, the color of a car has become a far more important predictor of theft risk over the past 15 years. He has a few theories about why this happened. For one thing, Dutch buyers became more picky about color, and the resale difference between popular colors and unpopular colors became more pronounced. For another, more cars now come with anti-theft devices built in. That means fewer amateur joyriders are stealing cars these days — and the theives still in the game are the ones who are in it for the money. Here's Vollaard's chart showing risk of theft by color. 
Ben Vollaard/Vox
Note that for each color, the bar on the left includes the 15 most popular auto brands in Holland; the bar on the right excludes Audi, BMW and Mercedes, to account for the fact that those cars are both desirable to thieves and are particularly popular in black. Source: NPR Blogs: Planet Money | 6 Jul 2010 | 12:43 pm More Big Drug & Biotech Mergers Likely (SNY, AMGN, BIIB, GENZ, BSX, JNJ, HGSI, DNDN, AUXL, VRTX, AMLN, LLY, WCRX, CBST)Sanofi-Aventis SA (NYSE: SNY) was a bit of a stalking horse news item on a week that many investors and traders started taking off for a long weekend. The company has tried to telegraph the possibility of making several U.S. acquisitions. To make matters worse, or perhaps just more interesting, the company said that one [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jul 2010 | 12:24 pm "I understand your frustration..."Health plan customer service is getting a makeover. Insurance companies are hiring empathy trainers for their call agents and brushing up on their phone manners. It's an attempt to keep customers loyal as health care reform starts to give individuals more options to quit their insurance company and shop for a new one. Gregory Warner reports.Source: Marketplace | 6 Jul 2010 | 12:23 pm Letters: Antibiotics, one-child policyBill Radke reviews what listeners had to say about stories involving the FDA wanting farmers to lay off feeding meat-producing animals antibiotics, our series on China's one-child policy, and consumer confidence plunging in June.Source: Marketplace | 6 Jul 2010 | 12:23 pm Road Warriors: Tim WestergrenIn our new series "Road Warriors," producer Michael Raphael introduces us to some of our listeners' soundtracks when they're out on the road. We kick off the series with Tim Westergren, founder and Chief Strategy Officer of Pandora.com, the online radio company that's made waves by using mathematical algorithms to guess what music you want to hear.Source: Marketplace | 6 Jul 2010 | 12:23 pm Free Winona: Town allows alcohol salesWinona, Texas -- population 600 -- is the first town in its county to allow alcohol sales since Prohibition. Mayor Rusty Smith talks with Bill Radke about what the reasoning was behind the decision and what its done for the local economy.Source: Marketplace | 6 Jul 2010 | 12:22 pm U.S. universities rush to go globalMichigan State University says it is closing its undergraduate university in Dubai, putting an end to a money-losing experiment. It's tough news for the 100 students who need to find a new place to go to school. But for American universities, the race to go global continues. Jeff Horwich reports.Source: Marketplace | 6 Jul 2010 | 12:22 pm Postal Service's budgeting may backfireThe post office asked for another rate increase on first-class stamps and wants to eliminate Saturday service. These are all attempts to get control of losses that could reach $240 billion over the next decade. John Dimsdale reports.Source: Marketplace | 6 Jul 2010 | 12:22 pm Heat wave puts pressure on power gridThere have been scattered power outages along the East Coast as the utilities try to manage record demand for power, during record high temperatures. It's been almost seven years since the last big blackout on the East Coast. And there have been lots of talks about upgrades, but how prepared are we? Alisa Roth reports.Source: Marketplace | 6 Jul 2010 | 12:19 pm AgBank on course for record $22.1bn IPOThe last of China’s big four state-owned banks to go public has managed to complete its offering during a period in which global markets have tumbled and dozens of IPOs have been scrappedSource: Financial Times - US homepage | 6 Jul 2010 | 12:07 pm Wall Street Would Like To Know Where Kirsten Gillibrand, Et Al, Gets Off
In fact! We’ve obtained exclusive behind the scenes footage of exactly what sort of “pushback” the Senator from New York is in for and let me just say, it looks terrifying.
Source: Dealbreaker | 6 Jul 2010 | 11:35 am Presented By:Source: Dealbreaker | 6 Jul 2010 | 11:35 am 3 Stocks Short-Sellers Are Targeting (Screens)Hough: Pessimistic investors are swarming around these shares.
Source: SmartMoney.com | 6 Jul 2010 | 11:21 am Alleged Ponzi Schemer Guy De Chimay Responds To Hideous Allegations
You can claim he’s defrauded investors of millions or even billions if you’d like. When you claim he’s not a descendant of Belgian Trappist monks who not only make great beer but cheese too, you go too far. Animals.
Source: Dealbreaker | 6 Jul 2010 | 11:15 am Behind Goldman Sachs’ Upgrade from J.P. Morgan (GS, JPM, MS, DB)After weeks of downgrades following charges of civil fraud, Goldman Sachs Group Inc. (NYSE:GS) got some good news this morning. Analysts at fellow banker JP Morgan Chase & Co. (NYSE:JPM) raised Goldman’s rating from ‘Neutral’ to ‘Overweight’, and raised the price target on the stock to $175/share. The upgrade comes as a result of Goldman’s [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jul 2010 | 11:02 am General Motors, Texas Rangers: Bloomberg Law Bankruptcy ReviewSource: Bloomberg - All Podcasts | 6 Jul 2010 | 10:57 am Leadership May Determine Outcome of Germany vs. Spain
If you’ve been following the World Cup so far, you know that the Germany vs. Spain match tomorrow is a big deal. The New York Times’ Rob Hughes has an interesting take on how Spain, possibly the most talented team out there, may be hamstrung by a lack of leadership: No team in the world has more skill right through its starting 11 than the Spaniards. None has a better recent record than Spain, which has lost only twice in its last 52 matches. And no one who saw the Spanish bewitch the Germans to win the Euro 2008 final in Vienna could doubt Spain’s class. But Germany has looked stronger, consistently, in this Cup. So what has changed as the two head into their semifinal in Cape Town on Wednesday? Three things lie in Germany’s favor: Die Mannschaft has found newer, fresher, fitter players. Germany is always motivated when it comes to the World Cup. And after losing its captain, Michael Ballack, to injury, it has a dynamic new leader on the field. …if there is a better leader in the field than Schweinsteiger, he is yet to be seen. He has transformed himself from an enforcer to a man at the center of the action who, through example, energy and skill, makes others give that little bit extra. “Bastian is a true leader who does a lot of talking,” says (German player Sami) Khedira. “He has a very positive influence on the players around him and is willing to take on the responsibility in critical situations. He always wants to have the ball, even during difficult phases. We complement each other very well on the pitch.” Khedira’s definition of leadership belies his youth. He is 23 and has just 11 full caps to his name. He speaks, Schweinsteiger acts and Germany plays a positive, determined way. The article goes on to mention that the Spanish players lack conviction, perhaps because its captain and goalie, Iker Cassillas, cannot “lead the play or give it rhythm.” This same lesson holds true for any business team. In business, you can collect the most talented players available, but without leadership, your company or team won’t make it. If Spain falters tomorrow, and leadership is the issue, the team will have learned a very poignant lesson.
Source: Business Pundit | 6 Jul 2010 | 10:24 am The World’s Most Admired CompaniesThe people at Money.co.uk sent us this infographic. Wonder how long BP will keep its admired status:
Source: Business Pundit | 6 Jul 2010 | 9:34 am BlackRock’s Fuhr Sees Up to 30% ETF Growth in 2010: AudioSource: Bloomberg - All Podcasts | 6 Jul 2010 | 8:07 am Best and Worst Funds of the First Half (Screens)Bond funds performed particularly well. Energy, not so much.
Source: SmartMoney.com | 6 Jul 2010 | 8:04 am China Ag Bank IPO: Poor Farmers Need Not Applyby Sarah McBride The last of China's big, state-owned banks is finally gearing up for its stock market debut in Hong Kong and China. Agricultural Bank of China could raise over $20 billion and is expected to be one of the biggest IPO's in history. Update: ABC raised $19.21 billion and the offering could go up to as much as $22.1 billion, according to the Wall Street Journal. That would make it the world's biggest IPO. The bank's mission is to help rural residents and promote development of rural areas. That's particularly important given the widening disparity between China's relatively prosperous coast and less developed interior. But don't tell that to investors. According to the Wall Street Journal, the bank is pitching itself as a way to tap into inland growth— and is stressing that it doesn't lend money to poor farmers. Its website emphasizes that it lends to urban clients as well as rural. Marketing the bank as a straightforward commercial lender underscores the tension in China between sticking to socialist principles and embracing capitalism. If those seem hard to reconcile — no worries. China can just offer its usual explanation: The bank epitomizes socialism with special Chinese characteristics. Source: NPR Blogs: Planet Money | 6 Jul 2010 | 7:49 am Wal-Mart Isn't A Bank. Yet.by Jacob Goldstein 
Emily Geoff/flickr
Sam's Club, a division of Wal-Mart, will work with a finance company to offer loans of up to $25,000 to small businesses, the company said today. It's the latest in the company's move into the world of finance. When Wal-Mart applied for a bank charter a few years ago, regulators said no. A charter would have allowed Wal-Mart to take deposits and make loans. But that rejection hasn't stopped the company from significantly expanding its financial offerings. The actual lending in the new program will be done by Superior Financial Group, a federally regulated lender. But Sam's Club is promoting the loans, and members will get a discount on the application fee and on the interest rate. And Sam's Club may expand the types of loans it offers through third parties, the New York Times reported over the weekend. Sam's Club is a membership-based warehouse store, like Costco, and makes about half of its money from small businesses. Wal-Mart has also been expanding its finance offerings in its retail business. The company plans to open 400 new "MoneyCenters" in U.S. stores this year. The centers offer services such as bill pay and check cashing. And Wal-Mart recently took a minority stake in Green Dot, a finance company that manages the pre-paid debit cards sold at Wal-Mart. Those cards are often used by people without a traditional bank account. “We’re not necessarily trying to be a bank, we’re just trying to bring to [customers], much as we do with products, the things they need,” a Sam's Club exec told the NYT. Source: NPR Blogs: Planet Money | 6 Jul 2010 | 7:19 am Investec's Page on Stocks, Barrow on Currencies: First WordSource: Bloomberg - All Podcasts | 6 Jul 2010 | 7:16 am Retirement Funds Duel With Annuities (Fund Insider)Retirement-income funds are finding more buyers, but are they good for you?
Source: SmartMoney.com | 6 Jul 2010 | 5:42 am For China's AgBank IPO, Tamed Projections (Early Bird)WHAT'S HAPPENING NOW: Revised growth estimates may weigh on a shot at a record.
Source: SmartMoney.com | 6 Jul 2010 | 5:28 am
|
