South Korea in surprise rate hike

South Korea's central bank unexpectedly raises interest rates for the first time since the onset of the financial crisis.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 4:19 am

Next broke online refunds rules

A BBC investigation finds that Next has been illegally billing customers for delivery charges on promptly returned goods.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 4:09 am

Bovis Homes to resume dividends

Bovis Homes says it will resume its dividend at the end of the year after seeing solid trading in recent months.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 4:07 am

Obama promotes energy projects, economy in Nevada (AP)

AP - President Barack Obama is wrapping up a two-day swing through Missouri and Nevada with a speech on clean energy that could deliver a boost to Senate Majority Leader Harry Reid, who's in a tough fight for re-election.

Source: Yahoo! News: Business News | 9 Jul 2010 | 4:05 am

EU agency probes safety of Glaxo's Avandia drug

LONDON (Reuters) - European regulators are launching a new probe into the safety of GlaxoSmithKline Plc's diabetes pill Avandia, adding to pressure on a medicine that already faces a grilling from U.S. experts next week.

Source: Reuters: Business News | 9 Jul 2010 | 4:03 am

Mortgage Rates Hit A Record Low Again

Freddie Mac reports that mortgage rates hit another record low of 4.57% on a 30 year fixed home loan last week. That is down from the previous record low hit last week.  According to the AP, “many people either don’t qualify for new mortgages or have already taken advantage of the low rates this year.” [...]

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Source: 24/7 Wall St. | 9 Jul 2010 | 4:00 am

Cutting-Edge Online Campaign - 'My Gulf Action' - Allows Everyone to Take Direct Action to Offset Gulf Oil Spill (PR Newswire)

PR Newswire - Leading Environmental Groups Join Groundbreaking Campaign to Reduce Dependence on Fossil Fuels and Offshore Drilling
Source: Yahoo! News: Business News | 9 Jul 2010 | 4:00 am

Peugeot-Citroen in $1.2B joint venture in China (AP)

AP - France's PSA Peugeot Citroen SA signed a deal Friday to set up a euro935 million ($1.2 billion) joint venture to make small, low-emission cars in China with China Changan Automobile Group.
Source: Yahoo! News: Business News | 9 Jul 2010 | 3:58 am

Toyota president open to raising wages in China (AP)

AP - Toyota's president says the company is open to raising the wages of workers in China, where strikes have disrupted the automaker's operations in that fast-growing market.

Source: Yahoo! News: Business News | 9 Jul 2010 | 3:58 am

Confidence in world recovery boosts stock markets (AP)

AP - World stock markets rose Friday on hopes that global economic growth will prove resilient, with investors viewing a surprise interest rate hike in South Korea as a sign of confidence in the recovery.

Source: Yahoo! News: Stock Markets News | 9 Jul 2010 | 3:48 am

Confidence in world recovery boosts stock markets (AP)

AP - World stock markets rose Friday on hopes that global economic growth will prove resilient, with investors viewing a surprise interest rate hike in South Korea as a sign of confidence in the recovery.

Source: Yahoo! News: Business News | 9 Jul 2010 | 3:48 am

Now It Is The Rich Who Abandon Their Homes

The rich are not selling their homes because they cannot find buyers. So like the rest of the 11 million US mortgage holders in the US with underwater mortgages, they are walking away from their houses. New data from Corelogic, a real estate investment firm, shows that the rich now default on home loans more [...]

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Source: 24/7 Wall St. | 9 Jul 2010 | 3:48 am

UK trade gap widens, offsets weaker factory gate inflation

British factory gate inflation slowed more than expected in June, helped by falling fuel costs, but a jump in imports caused a surprise widening in Britain's trade gap in May.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jul 2010 | 3:43 am

Indications: After strong week, U.S. stock futures edge back

U.S. stock futures slipped modestly Friday after a strong week, as traders position portfolios ahead of the release of second-quarter earnings.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 3:43 am

Asian shares rally into weekend, Shanghai up 2.3%

Asian markets rallied into the weekend Friday as positive leads from Wall Street prompted buying in commodity-linked and exporter shares.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 3:36 am

Yahoo! Cuts Deal With Zillow For Real Estate Listings

Yahoo! (NASDAQ: YHOO) will outsource its real estate section to  Zillow, a popular listings site. The transaction calls for Zillow.com to oversee a network that will place home listings and ads from local real estate brokers on Yahoo! and  its own Zillow.com website. The deal may be good for Zillow which is a very small [...]

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Source: 24/7 Wall St. | 9 Jul 2010 | 3:32 am

Hedge funds thrive on fixed income in first half

LONDON (Reuters) - First-half performance figures are showing the same pattern for hedge funds as for more mainstream investors -- the most successful were in fixed income, the least successful in stocks.

Source: Reuters: Business News | 9 Jul 2010 | 3:28 am

Slow change for China forex reserves: IMF economist (AFP)

AFP - Any change in the make-up of China's foreign-exchange reserves would have to be very slow, International Monetary Fund chief economist Olivier Blanchard said Friday.

Source: Yahoo! News: Business News | 9 Jul 2010 | 3:27 am

ECB's Trichet: budget cuts won't lead to new slump

FRANKFURT (Reuters) - European Central Bank President Jean-Claude Trichet dismissed warnings that drastic and simultaneous spending cuts planned by euro zone governments could send the 16-country bloc back into recession.

Source: Reuters: Business News | 9 Jul 2010 | 3:24 am

BT pay deal averts strike action

BT and the Communication Workers Union reach a deal on pay that will see workers receive a 9.3% pay rise over three years.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 3:20 am

Stock futures point to lower open on Wall Street

(Reuters) - Stock index futures pointed to a lower open for Wall Street on Friday, edging down after climbing for the last three sessions, with futures for the Dow Jones industrial average down 0.2 percent, S&P 500 futures 0.1 percent lower and Nasdaq futures trading flat by 0848 GMT (4:48 a.m. EDT).

Source: Reuters: Business News | 9 Jul 2010 | 3:13 am

Stock futures point to lower open on Wall Street (Reuters)

Reuters - Stock index futures pointed to a lower open for Wall Street on Friday, edging down after climbing for the last three sessions, with futures for the Dow Jones industrial average down 0.2 percent, S&P 500 futures 0.1 percent lower and Nasdaq futures trading flat by 0848 GMT (4:48 a.m. EDT).

Source: Yahoo! News: Stock Markets News | 9 Jul 2010 | 3:13 am

A New Way To Gyp Cable TV Subscribers

The cable and telecom companies have come up with a new way to get more money out of their subscribers. They will offer less expensive plans with many fewer “stations”. That means the cost to subscribers for full programming services with hundreds of channels could rise. The cable and telecom firms can pay content providers [...]

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Source: 24/7 Wall St. | 9 Jul 2010 | 3:09 am

BC, Silver Lake to buy MultiPlan for $3.1 billion: source

LONDON (Reuters) - BC Partners and Silver Lake are set to buy healthcare services firm Multiplan for $3.1 billion in the largest secondary buyout of the year, a source familiar with the situation said on Friday.

Source: Reuters: Business News | 9 Jul 2010 | 3:09 am

Rebound continues as Seoul raises rates

The recovery in global stock markets continues after South Korea increases interest rates, boosting confidence in the country’s economy and in the region
Source: Financial Times - US homepage | 9 Jul 2010 | 3:06 am

China 'to renew Google licence'

Google boss Eric Schmidt says he expects the internet giant to be granted a new licence to operate in China.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 3:01 am

China's Threat to Treasurys Overblown (Broker Talk)

Don't expect Beijing to dump its holdings soon, say analysts.

Source: SmartMoney.com | 9 Jul 2010 | 3:00 am

US concert tour sales hit five-year low

Ticket sales for the biggest concert tours across North America fall to their lowest point since 2005, a US trade publication says.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 3:00 am

BT three-year pay deal averts strike

"Unprecedented" pay rise worth more than 9pc set to halt strike action at the telecoms group.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jul 2010 | 2:57 am

Tepid open seen for stocks

U.S. stocks were set for a lackluster start Friday, as investors prepared to take a breather after the recent run-up.
Source: Business and financial news - CNNMoney.com | 9 Jul 2010 | 2:53 am

China No Currency Manipulator, At Least Not By US Government Standards

The Treasury Department decided not to name China as a currency manipulator in a cleverly worded decision. The opinion was part of a Treasury report to Congress– the “Semi-Annual Report on International Economic and Exchange Rate Policies, consistent with Sections 3004 and 3005 of the Omnibus Trade and Competitiveness Act of 1988.” The Report concludes [...]

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Source: 24/7 Wall St. | 9 Jul 2010 | 2:50 am

London Markets: Homebuilders decline in British share trading

Homebuilders lost ground in British share trading on Friday, after Bovis Homes painted a lackluster picture of the housing market in the first six months of the year.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 2:48 am

Transferring oil from broken well an option for BP (AP)

AP - The first of two relief wells being drilled to stop the Gulf oil gusher could be done by the end of the month, BP officials say, but if that doesn't succeed, one backup being considered is transferring the crude to non-producing underwater wells that are miles away.

Source: Yahoo! News: Business News | 9 Jul 2010 | 2:28 am

Currencies: Dollar, yen slip in Asian trade as equities rally

The dollar and yen were once against the session’s biggest losers in Asian currency trading Friday, as a regional rally in equities markets kindled investors’ appetite for higher-yielding currencies.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 2:28 am

Plan to change private pensions

The government wants to change the way some private sector pensions are calculated, affecting future income rises for many.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 2:27 am

Bodycote to significantly beat market expectations

Shares in Bodycote jumped more than 8% Friday after the U.K. engineering group said it expects operating profit for the year to be significantly above the top end of market expectations.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 2:26 am

EADS in new bid for US contract

European giant EADS tries again to win a key US contract as a row over illegal subsidies rages between it and arch-rival Boeing.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 2:22 am

FTSE 100 on track for best week in a year

The FTSE 100 rose for a fourth day, leaving the blue-chip index of course for its best weekly performance in a year.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jul 2010 | 2:19 am

Catastrophe averted but crisis continues: Trichet

Catastrophe has been averted, but the financial crisis isn't over, European Central Bank President Jean-Claude Trichet said Friday.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 2:18 am

China to build Nigerian refinery

China agrees to build a $8bn oil refinery in Nigeria, the first of three under an accord signed in May.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 2:10 am

US to access Europeans' bank data

The European Parliament backs a new deal to allow US anti-terror investigators to access Europeans' bank data.
Source: BBC News | Business | World Edition | 9 Jul 2010 | 2:08 am

Rebound continues as Seoul raises rates

Friday 08:00 BST. The risk asset bungee of recent weeks is continuing its lurch higher: though momentum appears to be waning. The FTSE All-Word equity index is up 0.5 per cent, industrial commodities...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 2:04 am

2010 college grads take a pay cut

Graduates in the class of 2010 are making a little less money at new jobs than those who finished school last year, with the weak economy the prime culprit, according to a report released Thursday.
Source: Business and financial news - CNNMoney.com | 9 Jul 2010 | 1:58 am

Europe Markets: Miners, banks lead Europe to fourth day of gains

European shares were higher for the fourth straight session on Friday, with miners and banks at the forefront of the advance after a broker upgrade and some well-received earnings news.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 1:56 am

FTSE 100 climbs at open (AFP)

AFP - Leading shares rose in opening deals on Friday along with shares elsewhere in Europe, building on gains made the previous day.

Source: Yahoo! News: Stock Markets News | 9 Jul 2010 | 1:53 am

BP gets stricter with claims

BP is becoming increasingly stringent with its demands for documentation from victims filing claims for lost wages and income in the Gulf region.
Source: Business and financial news - CNNMoney.com | 9 Jul 2010 | 1:53 am

Media Digest 7/0/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The US did not name China a currency manipulator. Reuters:   Most money managers don’t believe the U.S. is in a double-dip recession — yet. Reuters:   The IMF said housing and unemployment could hurt the recovery. Reuters:   Google Inc. (NASDAQ: GOOG) say it is confident of getting a China license. Reuters:   Cable companies and TV [...]

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Source: 24/7 Wall St. | 9 Jul 2010 | 1:52 am

Banks and miners lead FTSE rally

Stocks in London opened higher for a fourth consecutive session on Friday after strong sessions on Wall Street overnight and in early Asian trade, as banks continued to move ahead. Banks have been...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:50 am

U.S.: China's yuan still too cheap

A Treasury report on foreign exchange rates has lawmakers in a tizzy about China's cheap currency.
Source: Business and financial news - CNNMoney.com | 9 Jul 2010 | 1:44 am

Bovis Homes to resume paying dividends

Bovis Homes, the British housebuilder, said it will resume paying dividends at the end of the financial year as it posted solid trading in the first-half, leaving it on track to meet 2010 targets.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jul 2010 | 1:37 am

Earnings Watch: Updates, advisories and surprises

A roundup of the latest corporate earnings reports and what companies are saying about future quarters.

Source: MarketWatch.com - Top Stories | 9 Jul 2010 | 1:01 am

A four-week hassle to get a $4 rebate

Mail-in rebates can be a minefield of sneaky requirements and exclusions. You almost suspect that big businesses don't really want people claiming the money they're due.

How far would you go for $4?

Source: L.A. Times - Business | 9 Jul 2010 | 1:00 am

Chinese bank launches potentially record-setting IPO to raise capital after lending boom

The Agricultural Bank of China has raised $19.2 billion so far, but that could grow to as much as $22.1 billion, eclipsing the previous mark.

This week's $19.2-billion initial public offering by the Agricultural Bank of China is part of a capital drive by China's banks stemming from last year's lending boom.

Source: L.A. Times - Business | 9 Jul 2010 | 1:00 am

Did Hulu steal Errol Hula's idea? Lawsuit goes to arbitration

The Canadian engineer says he shared trade secrets and a business plan with an NBC executive the year before the website was announced.

A Los Angeles County judge on Thursday referred to arbitration the case of a Canadian engineer who contends that NBC Universal stole his idea and business strategy to launch Hulu, the website that shows TV programs and movies.

Source: L.A. Times - Business | 9 Jul 2010 | 1:00 am

30-year mortgage rates edge down to new low

Freddie Mac says lenders are offering 30-year loans at an average of 4.57%, down from 4.58% last week, the lowest rate in the 39-year history of the mortgage giant's weekly survey.

The average cost for a 30-year fixed-rate loan edged down to a fresh record low this week, Freddie Mac reported Thursday.

Source: L.A. Times - Business | 9 Jul 2010 | 1:00 am

Disney said to be in deal to sell Miramax to Ron Tutor group

The deal, for $650 million, according to people close to the matter, would end more than six months of speculation over the fate of pioneering independent film label Miramax.

Ending more than six months of speculation over the fate of the pioneering independent film label, Walt Disney Co. has reached an agreement in principle to sell Miramax Films to an investor group led by construction executive Ron Tutor for about $650 million, according to people close to the situation.

Source: L.A. Times - Business | 9 Jul 2010 | 1:00 am

'Eclipse' is expected to remain No. 1 at the box office

The latest in the 'Twilight' series could gross $40 million this weekend but will have 'Despicable Me' breathing down its neck at $35 million. 'Predators' will probably finish third at $25 million. ...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:00 am

Disney said to be in deal to sell Miramax to Ron Tutor group

The deal, for $650 million, according to people close to the matter, would end more than six months of speculation over the fate of pioneering independent film label Miramax. ...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:00 am

A four-week hassle to get a $4 rebate

Mail-in rebates can be a minefield of sneaky requirements and exclusions. You almost suspect that big businesses don't really want people claiming the money they're due. ...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:00 am

HTC is a rising power in smart phone industry

The Taiwanese firm has become the fourth-largest maker in the world, helped by its connection to Android.

After mulling over which smart phone to buy for months, Seth Chapman decided against jumping on the iPhone, BlackBerry or Droid X bandwagons and instead went with the HTC Evo 4G.

Source: L.A. Times - Business | 9 Jul 2010 | 1:00 am

Chinese bank launches potentially record-setting IPO to raise capital after lending boom

The Agricultural Bank of China has raised $19.2 billion so far, but that could grow to as much as $22.1 billion, eclipsing the previous mark. ...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:00 am

Jobs outlook for small businesses may be getting bleaker

A payroll services firm says employers with no more than 19 workers made fewer hires in July than in any month since October. Those companies usually drive the unemployment rate down.

For the recovery to gain steam, most economists believe small businesses need to be strong enough to hire new workers. But according to one measure, the employment picture in this sector is weakening.

Source: L.A. Times - Business | 9 Jul 2010 | 1:00 am

Did Hulu steal Errol Hula's idea? Lawsuit goes to arbitration

The Canadian engineer says he shared trade secrets and a business plan with an NBC executive the year before the website was announced. ...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:00 am

HTC is a rising power in smart phone industry

The Taiwanese firm has become the fourth-largest maker in the world, helped by its connection to Android. After...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:00 am

Jobs outlook for small businesses may be getting bleaker

A payroll services firm says employers with no more than 19 workers made fewer hires in July than in any month since October. Those companies usually drive the unemployment rate down. ...
Source: RSS feed - channel BNPaperBusiness | 9 Jul 2010 | 1:00 am

Business Bullet: US earnings, BP, UK growth, M&S

The latest news on: US earnings, BP, UK growth, M&S
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 9 Jul 2010 | 12:55 am

NZ sharemarket lifts for sixth consecutive trading day

The New Zealand sharemarket extended its run of gains to a sixth consecutive trading day, though there was little corporate news to trade on until SkyTV revealed plans to buy the outside broadcast business it currently uses.The...
Source: nzherald.co.nz - Business | 9 Jul 2010 | 12:34 am

NZ dollar climbs

The New Zealand dollar headed into the weekend around its best level since late June as the Australian dollar held near two-week highs in the wake of strong employment data yesterday.Investors are also generally more comfortable...
Source: nzherald.co.nz - Business | 9 Jul 2010 | 12:33 am

Google confident of getting China web license

SUN VALLEY, Idaho (Reuters) - Google Inc Chief Executive Eric Schmidt expressed confidence the company will secure a license to operate a website in China, confounding speculation Beijing may shut down its flagship site there.

Source: Reuters: Business News | 9 Jul 2010 | 12:08 am

KKR plans shale gas exploration: report

(Reuters) - U.S. private equity firm Kohlberg Kravis Roberts & Co is planning to start up a natural gas exploration company focusing on shale and coal-bed gas, Bloomberg said, citing a person familiar briefed on the plan.

Source: Reuters: Business News | 9 Jul 2010 | 12:04 am

KKR plans shale gas exploration: report

(Reuters) - U.S. private equity firm Kohlberg Kravis Roberts & Co is planning to start up a natural gas exploration company focusing on shale and coal-bed gas, Bloomberg said, citing a
Source: RSS feed - channel BNewsBusiness | 9 Jul 2010 | 12:04 am

Asian stocks lifted by U.S. data

HONG KONG (Reuters) - Asian stocks rallied for a second day and the euro held near two-month highs on Friday, supported on positive U.S. data and after the European Central Bank's offered...
Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 11:47 pm

Modern twist in cold war tale of spy drama

A spy drama that has shaken the White House and the Kremlin while titillating both Russian and western audiences reached a denouement reminiscent of the cold war, but with a modern twist
Source: Financial Times - US homepage | 8 Jul 2010 | 11:30 pm

Asia Markets: Steel makers brace for weaker demand and prices

As South Korea's Posco prepares to kick off quarterly earnings-results season for Asian steel makers in the coming week, analysts are flagging concern that the weak trend in prices and demand may continue for a few more months because of slowing Chinese demand.

Source: MarketWatch.com - Top Stories | 8 Jul 2010 | 11:08 pm

$1600-a-night B&B for sale

An Auckland bed and breakfast, whose owner quoted a rugby fan $16,000 for a 10-night stay during next year's Rugby World Cup, will go to auction next month.The property, which has an estimated market value of $905,000, has been...
Source: nzherald.co.nz - Business | 8 Jul 2010 | 10:57 pm

Sembcorp Successfully Completes Tender Offer for Cascal Shares

Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 10:54 pm

China mulls resource tax to help aid poor regions

China is weighing up a nationwide resource tax designed to channel funds to help develop the impoverished western regions of the country, according to a state-media report.

Source: MarketWatch.com - Top Stories | 8 Jul 2010 | 10:24 pm

Americans Struggle to Adapt to Changing Economy

Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 10:01 pm

Geithner On Failing Firms: 'We Will Dismember Them'

Source: NPR Blogs: Planet Money | 8 Jul 2010 | 10:00 pm

Bank of Korea raises key rate from record low

South Korea's central bank unexpectedly raised its key interest rate from a record low amid prospects for robust growth as Asia leads the global economic recovery. The Bank of Korea...
Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 9:42 pm

BP push for Mideast investors may pose problems in U.S.

The company is trying to shore up its balance sheet, but increased investment from the region could trigger reviews in Washington, given the oil company's U.S. subsidiary. ...
Source: RSS feed - channel BNPaperBusiness | 8 Jul 2010 | 9:25 pm

Double dip fears sends investors to cash: EPFR

NEW YORK (Reuters) - Equity funds worldwide suffered more than $11 billion of net outflows in the first week of July, while money market funds saw the biggest inflows in 18 months amid...
Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 9:22 pm

Asia stocks gain amid respite from slowdown fears

Asian markets rose Friday after a fall in U.S. unemployment benefit claims eased the worries about a stuttering global economic recovery that have roiled stocks for several weeks. South...
Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 9:07 pm

Valmont Industries, Inc. Second Quarter 2010 Earnings Conference Call

Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 9:00 pm

Google confident of China licence renewal

Eric Schmidt, Google chief executive, has predicted that the Chinese government will renew his company’s licence, a move that would allow it to continue operating in the world’s biggest internet market
Source: Financial Times - US homepage | 8 Jul 2010 | 8:36 pm

The Vacation Ownership Group, LLC, a Timeshare and Vacation Ownership Consulting Firm, Specializes in Helping Consumers With Timeshare Purchases and Negotiations by Offering an Innovative Approach to Vacation...

Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 8:35 pm

Filmmaker: I was undercover operative for law firm

An American filmmaker who went to Nicaragua to make a documentary says he became an undercover operative for a Texas law firm that was suing Dole Foods on behalf of purported banana...
Source: RSS feed - channel BNewsBusiness | 8 Jul 2010 | 8:26 pm

Crafar claims damages, farms 'mismanaged'

Allan Crafar's court bid to block the sale of his farms has failed, but a damages claim against the receivers could still be pursued.Crafar will seek damages against the receivers and the banks if they accept a lower offer for...
Source: nzherald.co.nz - Business | 8 Jul 2010 | 8:00 pm

Dunne proposes tax rebate for over 65s

Revenue Minister Peter Dunne says he is considering a tax rebate on health insurance premiums for people over 65.Speaking as leader of the United Future Party, he told a Bay of Plenty Grey Power meeting today older New Zealanders...
Source: nzherald.co.nz - Business | 8 Jul 2010 | 7:47 pm

US welcomes loosening of renminbi peg

A politically sensitive report from the US Treasury declined to name China as a currency manipulator, citing Beijing’s move to permit some exchange rate movement as ‘a significant development’
Source: Financial Times - US homepage | 8 Jul 2010 | 7:39 pm

Tylenol recall expands

Johnson & Johnson is expanding a recall of over-the-counter medicines including Tylenol, Motrin and Benadryl, the company said Thursday.
Source: Business and financial news - CNNMoney.com | 8 Jul 2010 | 7:38 pm

Upbeat manufacturers defy gloomy talk

Manufacturers had a surprisingly strong May, with employment growing for the first time since November 2008 and a solid lift in both export and local sales, according to the latest New Zealand Manufacturers and Exporters Association...
Source: nzherald.co.nz - Business | 8 Jul 2010 | 7:30 pm

EADS submits refueling-tanker proposal; Boeing has the edge

The aerospace companies are jockeying for a $35-billion Pentagon contract. The deadline is Friday.

Boeing Co. once again finds itself the front-runner as Friday's deadline approaches for submitting proposals for aerial refueling tankers, one of the largest and most controversial contests overseen by the Pentagon.

Source: L.A. Times - Business | 8 Jul 2010 | 7:29 pm

Department stores, teen chains lead retail sales in June

Abercrombie & Fitch is the biggest surprise with a 9% jump in same-store sales, while Nordstrom posts double-digit gains. But just over half of all retailers surveyed fall short of expectations.

The start of summer break sent teens and other shoppers to the mall in June, but sales remained lackluster at many of the nation's largest retailers.

Source: L.A. Times - Business | 8 Jul 2010 | 7:24 pm

LeBron fever hits options, boosts MSG activity

NEW YORK (Reuters) - LeBron fever is in full bloom in the options market.

Source: Reuters: Business News | 8 Jul 2010 | 7:06 pm

Inside Money: Churn it up - a life-changing experience

Why, all my friends and family ask me, are insurance advisers getting all worked up over a form?Alright, you got me - my frie
Source: nzherald.co.nz - Business | 8 Jul 2010 | 7:00 pm

Another Court Rejects Obama Oil Rig Shutdown

Obama may never get his way as he tries to shut down deepwater drilling in the Gulf as a reaction to the BP disaster An appellate court upheld a ruling the the government does not have the right to close the operations of companies drilling in the region.A federal appeals court rejected a bid by [...]

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Source: 24/7 Wall St. | 8 Jul 2010 | 6:36 pm

Stock takes : Eye on sky

The move by Rupert Murdoch's News Corp to take full control of Britain's BSkyB has some in the market speculating that a similar move might be in the offing for New Zealand's Sky TV.Last month News Corp, which owns 39 per cent...
Source: nzherald.co.nz - Business | 8 Jul 2010 | 6:30 pm

U.S. gives China pass on currency

WASHINGTON (Reuters) - The Obama administration declined to label China a currency manipulator in a long-delayed report on Thursday, spurring fresh calls from U.S. lawmakers for tough new steps to pressure Beijing.

Source: Reuters: Business News | 8 Jul 2010 | 6:08 pm

Billionaire Ron Burkle testifies as trial begins in Barnes & Noble poison pill case

WILMINGTON, Del. — Los Angeles billionaire Ron Burkle testified Thursday that he didn't want to buy Barnes & Noble Inc. and was shocked when the bookseller adopted a poison pill plan after he increased his stake in it.

Source: L.A. Times - Business | 8 Jul 2010 | 5:59 pm

US federal appeals court rejects offshore drilling ban

A federal appeals court panel denied a US government request to reinstate a deepwater oil-drilling moratorium while it appeals a lower court order rejecting the ban
Source: Financial Times - US homepage | 8 Jul 2010 | 5:40 pm

Electronic card spending up in June

The value of electronic card spending increased in June 2010, Statistics New Zealand said today. The overall increase was due to the value of transactions rising in all industries except fuel retailing. The numbers were adjusted...
Source: nzherald.co.nz - Business | 8 Jul 2010 | 5:15 pm

Project New Bank shouldn't try to relive the past

Good luck to Lord Levene who wants to start a new banking business. He's got some backers and the help of non-executives such as Sir David Walker. It's a good start.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Jul 2010 | 5:13 pm

UK must encourage the private sector or our fragile recovery will fade and die

How was it for you? The recovery I mean. Blink and you may have missed it. You might even be forgiven for asking whether this is as good as it gets.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Jul 2010 | 5:11 pm

UK austerity drive threatens to snuff out recovery, IMF warns

Britain's fledgling recovery may be nipped in the bud by the savage cuts planned to grapple with the mountain of public debt, warns the IMF.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Jul 2010 | 5:05 pm

Telecom pays out $1.6m in Commerce Commission settlement

Vodafone and Orcon are to equally share $1.6 million of compensation from Telecom, under a Commerce Commission ruling on loyalty offers made by Telecom Wholesale.The commission today said it had reached a $1.6m settlement with...
Source: nzherald.co.nz - Business | 8 Jul 2010 | 5:00 pm

Lord Levene and Sir David Walker team up to target state banking assets

Lord Levene and Sir David Walker are to join forces in a new investment vehicle that will bid for state-controlled banking assets.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Jul 2010 | 4:55 pm

Dow's Surge: 452.51 Points in 3 Days (Market Update)

Upbeat data on jobs and retail sales helped push stocks to a third consecutive gain.

Source: SmartMoney.com | 8 Jul 2010 | 4:54 pm

Joblessness and housing add risks to U.S. recovery: IMF

WASHINGTON (Reuters) - High unemployment and a moribund housing market have increased risks to the U.S. economic recovery, while the public debt looms large and needs to be cut, the International Monetary Fund said on Thursday.

Source: Reuters: Business News | 8 Jul 2010 | 4:53 pm

When Will Houses Appreciate? Not Until Supply Bloat Clears (Investor's Business Daily)

Investor's Business Daily - The supply of homes for sale threatens to back up due to expiration of a federal tax credit for homebuyers. That could push out the day that homeowners will see properties consistently appreciate again. And it could further dash homebuilding.
Source: Yahoo! News: Business News | 8 Jul 2010 | 4:45 pm

From West Wing to the casting couch: Rob Lowe joins Miramax bid

Rob Lowe, star of The West Wing, St Elmo's Fire and Brothers and Sisters, joins $700m bid for Hollywood film studio Miramax.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 8 Jul 2010 | 4:44 pm

Summary Box: Stocks rise for 3rd day on jobs news (AP)

AP - THIRD CLIMB: Stocks rose for a third straight day Thursday after the government reported a larger than expected drop in the number of newly laid-off people seeking unemployment benefits last week.
Source: Yahoo! News: Stock Markets News | 8 Jul 2010 | 4:26 pm

Hulu eyes launching global pay platform

Hulu, the online video service, plans to launch a subscription service internationally following the recent US release of the service that has attracted thousands of subscribers
Source: Financial Times - US homepage | 8 Jul 2010 | 4:21 pm

How the major stock indexes fared on Thursday (AP)

AP - Investors are getting enthusiastic about stocks again after some reassuring news from the job market.
Source: Yahoo! News: Stock Markets News | 8 Jul 2010 | 4:16 pm

Huawei in drive to land big US deal

The Chinese telecommunications equipment supplier launches a push to secure its first major contract in the face of strong security concerns in Washington
Source: Financial Times - US homepage | 8 Jul 2010 | 4:15 pm

Stocks climb for 3rd day after jobless claims fall (AP)

AP - Investors are getting enthusiastic about stocks again after some reassuring news from the job market.

Source: Yahoo! News: Stock Markets News | 8 Jul 2010 | 4:11 pm

Mediaset Raised to `Buy,' Affymetrix Cut to `Netural': Audio

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 4:10 pm

Write-Offs: 07.08.10

$$$ U.S. gives China pass on currency [Reuters]

$$$ Hedge Funds Increase Short Exposure Yet Still Suffer Poor Performance [MF]

$$$ Meltzer Says U.S. Economic Programs Have Been `Foolish’ [Bloomberg]

$$$ Casino, Gambler Who Lost $127 Million Near Settlement [WSJ]

$$$ Former NIR Group Analyst Accused of Securities Fraud [Forbes]

$$$ Joe Cassano’s Facial Expressions [NYO]

China - Hedge fund - United States - Forbes - Business
Source: Dealbreaker | 8 Jul 2010 | 4:09 pm

California workers face minimum wage

A year ago, California dealt with its budget crisis by handing out hundreds of thousands of IOUs to contractors and taxpayers. This year, it's threatening to cut state workers' wages to the bone.
Source: Business and financial news - CNNMoney.com | 8 Jul 2010 | 4:04 pm

RM’s Kelleher Discusses Classic Car Auctions: Taking Stock

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 3:59 pm

Top After-Hours Stocks on the Move (ACE, CPTS, CWTR, GPS, LWSN, NANO, NUHC, SCSC)

There are several stocks on the move in after-hours trading tonight.  Some are on earnings and some are carry-over trades on the surface.  We have reviewed the moves and added color in on after-hours trading activity in Conceptus, Inc. (NASDAQ: CPTS), Coldwater Creek Inc. (NASDAQ: CWTR), The Gap, Inc. (NYSE: GPS), Lawson Software, Inc. (NASDAQ: [...]

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Source: 24/7 Wall St. | 8 Jul 2010 | 3:57 pm

Lountzis, Shields Discuss Value Stocks, Berkshire: Taking Stock

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 3:55 pm

Pink OTC’s Coulson Discusses Delisted Stocks: Taking Stock

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 3:50 pm

MIT Sloan’s Johnson Discusses Financial Meltdowns: Taking Stock

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 3:48 pm

Lawson Software's 4Q earnings hit by tax bill (AP)

AP - Lawson Software Inc. said Thursday that its fiscal fourth-quarter earnings plunged 70 percent as the business software maker swallowed a bigger tax bill and booked acquistion costs.
Source: Yahoo! News: Business News | 8 Jul 2010 | 3:39 pm

Chrysler to end production of retro PT Cruiser (AFP)

AFP - US automaker Chrysler is ending production after a decade of its PT Cruiser, an odd-looking car that drew comparisons to a 1930s gangster ride or a London taxicab.

Source: Yahoo! News: Business News | 8 Jul 2010 | 3:33 pm

Book Review: No Excuses! The Power of Self-Discipline

What’s the secret of success?

Self-discipline, of course. At least that’s what self-help guru Brian Tracy claims in No Excuses! 21 Ways to Achieve Lasting Happiness and Success. Tracy’s latest book describes how you can use self-discipline to become a successful, “superior” person in 21 areas of your life.

Yes, Tracy does occasionally use the rather Nietzschian language of “superior people” vs. “weak and irresolute people.” But his advice throughout No Excuses is so sound, and the book is so readable, that Tracy may just convert you into a self-disciplinarian by the last page. He certainly had me interested long before that.

What’s Inside No Excuses

Tracy quotes Elbert Hubbard to define self-discipline as “the ability to do what you should do, when you should do it, whether you feel like it or not.” He tells you how to employ self-discipline in 21 well-organized, easy to follow chapters. These chapters are clustered into groups of seven, which in turn make up the three parts of the book.

Part I covers self-discipline and personal success. This part covers things like goals, courage, and persistence, and how self-discipline helps you master them. Part II tells you how to use self-discipline in business, sales, and finances. Part III talks about quality-of-life issues like personal health, fitness, and marriage, and how you can use—you guessed it—self-discipline to achieve success in those areas.

Each chapter features a number of end-of-chapter exercises to get you moving in the right direction. Unlike many other books I’ve read, these exercises are good. Tracy truly helps you figure out where you are in each area of your life, and what you need to do to find success. If you do all the exercises in the book, you’ll make book worth your time and money.

Likes and Dislikes

Overall, I give No Excuses a ready thumbs-up. Tracy does a fine job of offering simple definitions of oft-foggy concepts like leadership, time management and character. He then tells you how to cultivate them using the secret sauce of self-discipline. Throughout the book, he uses studies, anecdotes, business concepts like the 80/20 principle, and self-help ideas like the Law of Attraction to support his points. It’s an easy but profound read.

Two things about No Excuses gave me pause, although I don’t believe they affect the quality of Tracy’s advice. One, Tracy uses a lot of universal language without necessarily backing up where he got all of his ideas. “The Law of Concentration says that ‘whatever you dwell upon grows and increases in your life’” and “the core virtue of character is truth” are examples from the book. Perhaps it’s self-help guru syndrome, but I did find myself wondering what gives Tracy, even with his years of study and experience, the authority to tell me what I should be doing in everything from my career to my marriage.

When I browsed Tracy’s website to find out more about him, I discovered that he’s actually a man of faith. This may explain that “universal truth” angle I picked up in some places.

Onto my second point, or digression, however you may classify it. Tracy’s self-discipline reflects a well-honed Protestant work ethic. He advocates that you have, at the least, a full and productive day. After getting enough sleep, he writes that you should read something uplifting before getting out of bed. After reading, you get up and exercise. Then you go to work an hour early, work through lunch, and leave an hour late. Every day.

I can’t imagine being relaxed, living like that. But there’s little in the book about managing stress. I can only assume that what makes this kind of heavy schedule tolerable is the right mindset. That kind of mindset is really hard to cultivate, unless you had fabulous parents, or you’re religious. And I can’t help but think that for Tracy, that mindset is supported by God, though he doesn’t mention anything about faith or religion in the book. A minor gripe, considering that it’s a good book overall, but I’d feel remiss not to mention it.

Conclusion

No Excuses is a very good self-help tome. It’s motivational by virtue of being simple, effective, and, I’m guessing, quite true. I’d recommend it across the board, especially if you’re itching to get your act together.

Disclosure: We were sent a free copy of No Excuses.

Source: Business Pundit | 8 Jul 2010 | 3:05 pm

3 tax write-offs to plan for

Source: Business and financial news - CNNMoney.com | 8 Jul 2010 | 3:05 pm

Credit crunch alive and well

Two years after the credit squeeze began, Americans are still pulling back.
Source: Business and financial news - CNNMoney.com | 8 Jul 2010 | 2:33 pm

A Smart car in any color you want ... even plaid

Smart USA, the company that sells the ultra-small Smart ForTwo is now offering customers the option to choose to have their car painted any color they choose.
Source: Business and financial news - CNNMoney.com | 8 Jul 2010 | 2:32 pm

Does It Surprise Anyone To Hear Guy Claiming To Have Banged LeBron James’ Mom Without A Condom Is A Former Lawyer For The SEC?

The people who work at the SEC are awesome. Given. The greatest minds on Wall Street, you’d be hard-press to find a group of more impressive individuals. Their accomplishments are far too many to mention but to name just a few: Guinness Book of World Records holder for most attempts to log on to manboyjuice.com during the course of the business day, missed astounding number of scams even when they were literally all up in their grills over and over and over again, and so on and so forth. And while they’re used to the kicking of ass and the taking of names (just par for their course) and the unending accolades, it’s still gotta be a pretty proud day when when of their own is publicly recognized like this:

The lawsuit is explosive — in it, 55-year-old Leicester Bryce Stovell claims he met Gloria in a D.C. area bar in 1984 … and had unprotected sex with her on the night they met. He later found out she was 15-years-old at the time … he was 29. But the man making the claim isn’t some schmuck — dude is a Princeton graduate … who earned a law degree from the University of Chicago … and then became a Senior Legal Advisor for the U.S. Securities and Exchange Commission.

In his suit, Stovell claims he has a very clear recollection of the night he had “consensual sexual relations” with Gloria — in fact, he even remembers apologizing for his sub-par performance…Leicester — a self-proclaimed high school star athlete — says he remembers telling Gloria, “Well, if he’s mine, make sure he plays basketball.” He claims that was the last time he saw Gloria for more than 20 years.

University of Chicago - U.S. Securities and Exchange Commission - LeBron James - Wall Street - Gloria
Source: Dealbreaker | 8 Jul 2010 | 2:14 pm

National Employee Morale Day At Merck

Merck & Co., Inc. (NYSE: MRK) will dump 16,000 workers now that its merger with Schering-Plough well along. The company  announced plans to phase out operations at eight research sites and eight manufacturing sites, as well as to continue to consolidate office facilities worldwide. “Today’s announcement is another important step as we successfully integrate our [...]

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Source: 24/7 Wall St. | 8 Jul 2010 | 2:03 pm

Looks Who’s Broheims Again!

In 2002, accusations by then Attorney General Eliot Spitzer set off a chain of events that resulted in Merrill Lynch analyst Henry Blodget being fined $4 million in fines and repayments and being banned from the securities industry for life. Those polled at the time probably didn’t expect the two to end up bros. Today we find out how utterly wrong they were.

“Our guest today is the former governor of New York and the man who destroyed my Wall Street career,” Blodget said on the show, smiling as Spitzer chuckled. His friendly overture impressed Spitzer, who now gushes about Blodget like an old drinking buddy. “Listen, I think Henry’s great,” Spitzer says. “And the issues that led to the analyst case are not of such moral dimensions that these were people who were, you know, out killing babies.”

Blodget on Road From Ruin Bets News’ Future Is Business Insider [Bloomberg]

Merrill Lynch - Eliot Spitzer - Henry Blodget - Wall Street - New York
Source: Dealbreaker | 8 Jul 2010 | 2:00 pm

Dick Bové: “Meredith Whitney Is Late To The Game On Goldman Sachs”

Watch the latest video at video.foxbusiness.com

Business - FOXBusiness.com - Television - Arts - Third Watch
Source: Dealbreaker | 8 Jul 2010 | 1:59 pm

A look at global economic developments (AP)

AP - A look at economic developments and activity in major stock markets around the world Thursday:
Source: Yahoo! News: Stock Markets News | 8 Jul 2010 | 1:55 pm

Extended Stay, Skilled Healthcare: Bankruptcy Review

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 1:48 pm

Trichet plays down eurozone gloom

Confidence that emergency measures to stabilise Europe’s 11-year-old monetary union are taking effect
Source: Financial Times - US homepage | 8 Jul 2010 | 1:46 pm

Microsoft Bing Picks Up Market Share–A Rounding Error

The research firm Hitwise reports that Microsoft Corporation’s (NASDAQ: MSFT) Bing search engine market share rose 7% in June, from 9.23% to 9.85%. The number is probably within a the margin of error of the study. That is certainly the case for the tiny changes in the percentages of the market that Yahoo! (NASDAQ: YHOO) [...]

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Source: 24/7 Wall St. | 8 Jul 2010 | 1:39 pm

Paulson And Co Investors Pleasantly Surprised By Fund Only Being Hit With $2 Billion In Redemptions

Paulson and Company has had a tough couplea months. The firm has been on the receiving end of a lot of shit, none of it really due but mostly thanks to a certain Frenchman and his blood-sucking overlords dragging the hedge fund’s name into the press and June didn’t go so amazingly as it relates to making money. But! There is some good news to report which that P&C’s assets under management only fell to to $30.9 billion, down from $33.1 billion, leaving investors with something to smile about.

“The redemptions are lower than I would have personally expected,” one fund of funds investor told Absolute Return. Another added that the the ABACUS crap is just noise, that the mud-slingers can suck it and that he’s stickin’ with JP. “We’ve tried to stay away from the gossip and just stick to the facts,” he said. “We’ve looked into the facts, and so far we’re comfortable with the fact pattern,” he said.

Nevertheless, someone seems to be a bit more panicked.

Hedge fund - Business - Investing - Funds - Assets under management
Source: Dealbreaker | 8 Jul 2010 | 1:37 pm

Presented By:

Source: Dealbreaker | 8 Jul 2010 | 1:37 pm

California Resident Sean Carey Wants You To Do Something To Jamie Dimon’s Balls

Generally, when the topic of Jamie Dimon comes up, vis-a-vis his nuts, and what people would like to do to them, the answers tend to veer toward “build a shrine to them,” “nuzzle them,” “gaze lovingly at them,” “have them rest on my chin,” “put them in my mouth” and “create a mold of them and rub for good luck.” Inflicting harm is almost never suggested, unless by a certain analyst who shows love via BDSM. Bucking that trend is a fellow named Sean Michael Carey. SMC wants Jamie hit where it hurts, on account of the fact that JD apparently owes him $142. “If you see him today punch him in the balls and say ‘Sean Michael Carey sends his regards, fucker’,” Carey wrote on the wall of the Facebook group he formed yesterday for the sole purpose of getting the message out. Carey adds that if you’re going to do this for him, please be advised:

Punch Jamie Dimon (CEO of JP Morgan/Chase) in the balls [Facebook via Daily Intel]

Jamie Dimon - Facebook - Sean Michael Carey - JPMorgan Chase - Business
Source: Dealbreaker | 8 Jul 2010 | 1:27 pm

The world's biggest companies

Source: Business and financial news - CNNMoney.com | 8 Jul 2010 | 1:17 pm

Solar-powered flight boosted by trip at night

Pioneering aircraft with the wingspan of a large passenger jet but the weight of a family car flies for more than 26 hours
Source: Financial Times - US homepage | 8 Jul 2010 | 1:04 pm

Laid Off Wall Streeter Dreams Up Innovation Sure To Rock Your World

The scene: You’re at your desk buying, selling, sending asinine IMs to your colleagues and just generally kicking ass and taking names when you get an itch. A stirring, down in your plums. You need to stick your tongue in something sweet or there’s a good chance you might die. You need a cupcake, ASAP.

The internal conflict: Cupcakes are for chicks and pusses. You’re a fucking MAN. How would it look if you were seen eating that little slice of heaven? You’d sooner take estrogen pills, slip into some panties and heels and tell people to call you Stupid Girl and that’s something you’d never do unless asked nicely twice or maybe just once or maybe even voluntarily. But, oh god, you need that sugar so bad you’re gonna burst! BUT HOW?? you ask yourself, nearly on the verge of tears. Cupcakes are inherently a woman thing due to their size so would it be better to just eat an entire red velvet cake in the break room, literally just plow right through it letting the creamy white frosting goodness cascade down your hands and face? Would that man things up a bit? A little but 1) you love how big cupcakes make your hand look 2) you’re watching your weight (it’s beach season and all). There’s also the problem of most cupcake makers using lots of girly colors like pink and skimping on the non-manly ingredients like semen and sweat and gah it’s just too hard! WHAT’S A BOY TO DO??

The Solution: Enter David Arrick. He was laid off from his Wall Street gig and with the time on his hands, solved your problem. David, too, realized that eating cupcakes sent a message you didn’t want to send, so he for real came up with a company called “Butch Bakery” that lets you look like a man while devouring heaven in bite-sized form. How so? Glad you asked. Butch Bakery “stays away from the pink” and injects stuff like beer and whiskey and rum and coke to create a product that lets you maintain your non-chick status all the while allowing you to enjoy an “explosion in your mouth that is just delicious.”

Cupcake - Wall Street - Stupid Girl - Red velvet cake - Cake
Source: Dealbreaker | 8 Jul 2010 | 12:41 pm

Barrall on Corporate Effects of Financial Regulations: BLAW

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 12:29 pm

Budget Airlines: Cheap Tickets, High Fees

Source: NPR Blogs: Planet Money | 8 Jul 2010 | 12:28 pm

Twitter founders: Grow biz, 'Be helpful'

From the Aspen Ideas Festival, Twitter co-founders Biz Stone and Evan Williams talk with Kai Ryssdal about the origins of the social networking service, the value of trivial tweets, and the monetization platform they are launching that involves promoted tweets and trends.
Source: Marketplace | 8 Jul 2010 | 12:21 pm

Mobile pay changes the way we do biz

Living in a digital world is changing how we live -- everything from how we get our news and information to how much money we carry in our pockets. Janet Babin reports on mobile pay via social media like Twitter or through your cell phone.
Source: Marketplace | 8 Jul 2010 | 12:21 pm

Cities slash public safety budgets

State and local governments are still feeling economic uneasiness. Experts say this is creating another wave of layoffs. Mike Moen reports on the situation in Northern Illinois, where some municipalities are shedding jobs in crucial areas -- including public safety.
Source: Marketplace | 8 Jul 2010 | 12:21 pm

VA relaxes PTSD qualification rules

The Veterans Administration is relaxing its strict qualification rules that have left many veterans lost in a paperwork maze. This could help not only hundreds of thousands of vets from Iraq and Afghanistan, but also Vietnam veterans still trying to prove they qualify for benefits. Gregory Warner reports.
Source: Marketplace | 8 Jul 2010 | 12:21 pm

Why Wells is pulling out of risk loan biz

Wells Fargo has announced it's closing its 600 or so "financial stores." The bank also said it will stop selling subprime loans. Well, what took so long? Eve Troeh reports.
Source: Marketplace | 8 Jul 2010 | 12:21 pm

Retail data: Signs of a new consumer?

New retail sales figures show shoppers continued to hold back last month. And a report says that the number of Americans behind on their credit cards is the lowest in eight years. So, are we looking at a new consumer? Frugal, responsible and forever changed? Or are shoppers just holding back on the plastic? Jeff Horwich reports.
Source: Marketplace | 8 Jul 2010 | 12:11 pm

What can the Fed do to help recovery?

In Washington, politicians can't agree if they should wind down the stimulus to keep the deficit under control or give the economy another kick. It turns out a similar debate is happening across town at the nation's central bank. What should the Federal Reserve do? John Dimsdale reports.
Source: Marketplace | 8 Jul 2010 | 12:11 pm

Citi Bans Threats On Colleagues’ Lives, Use Of Sarcasm Over E-Mail

If you feel the need to tell the guy who sits next to you that you’re for real going to fucking kill him, do it in the men’s room. In that same vein, smart aleck comment such as “Oh yeah, I really wanna do you, Vikram,” when what you really mean is “not with Alwaleed’s dick,” should be deployed to his face.

Citi Presentation [PDF]

Arts - Citigroup - Mani Ratnam - Chiyaan Vikram - Raavan
Source: Dealbreaker | 8 Jul 2010 | 11:38 am

Lindsay Lohan Defender Doesn’t Understand Why Her Haters Don’t Direct Their Rage Toward Lloyd Blankfein

All Lindsay Lohan ever did was drive drunk a few times, endanger the lives of others, show flagrant disregard for the law, star in a few terrible movies and preside over the death of a puppy with each passing day she refuses to go back to her natural red roots from that god-awful bleach blonde. For all this and maybe a little more, people say she sucks. And then you have Lloyd Blankfein, over there on West Street, consistently making it rain day in and day out, not racking up the DUIs and definitely not making horrible hair choices, getting a free pass? It’s not right, says the guy directing her in a new Linda Lovelace film (once she gets out of the clink).

What about the argument that she’s a public figure, and the press’s ability to say or show almost anything they want in relation to public figures, no matter how harsh or unfair, is constitutionally protected, and that if she can’t handle it, she shouldn’t have gone into the entertainment business?

Well, we’re not discussing what’s illegal. I think it’s more about the crumbling of something very basic and humane. I encounter people all the time — people in real life, fancy people with money — who say, “Oh, are you the guy doing that movie with Lindsay Lohan? God, I can’t stand her. I wish she’d drop dead.” What? Who ginned that up? Where do people feel that ease in saying that? And why, precisely, are people barking for her extinction instead of putting Tony Hayward or Lloyd Blankfein in their imaginary electric chair?

lindsaylohan - Linda Lovelace - Lloyd Blankfein - Tony Hayward - Driving under the influence
Source: Dealbreaker | 8 Jul 2010 | 10:18 am

FTSE 100 continues recovery (AFP)

AFP - London shares remained on an upward trajectory Thursday, taking their lead from Wall Street and Asian markets which had earlier posted solid gains.

Source: Yahoo! News: Stock Markets News | 8 Jul 2010 | 10:11 am

Dear Stock Portfolio: Show Me You Love Me (Tradecraft)

Hoenig: Ignore valuations and anything else. Just watch the stock's price.

Source: SmartMoney.com | 8 Jul 2010 | 10:01 am

IMF Bullish on Global Growth–On the Surface

The International Monetary Fund (IMF) has projected that the global economy will grow 4.6% this year, 0.4% more than its initial projection. That’s the most growth since 2007, according to Bloomberg, which has the story:

Canada and the U.S. are leading advanced economies out of the worst recession since World War II, trailed by euro-area countries that need additional measures to boost confidence in their banks, the fund said. Faster expansions in Brazil, China and India are helping to protect the global recovery as a sovereign-debt crisis weighs on Europe, the IMF said.

Fiscal woes in advanced economies may curtail the flow of capital to emerging markets, Olivier Blanchard, the IMF’s chief economist, said at a press briefing today in Hong Kong. Blanchard said the reversal will prove “temporary” in the aftermath of the European crisis, with a resumption of flows over time.

The IMF predicted growth of 2.6 percent this year in advanced economies, more than the 2.3 percent seen in April. The fund cut its 2011 growth forecasts for every Group of Seven industrial nation except the U.S. The U.S. economy will expand 3.3 percent this year, more than the 3.1 percent predicted in April, and 2.9 percent next year, the IMF said.

Note that this announcement comes at the same time as Europe’s relatively gentle bank stress tests.

But, as The Economist notes, the IMF qualified its bullishness with a “snake pit of threats:”

Among these “downside risks”: banks could curtail lending because of their exposure to impaired government debt; consumers and businesses could spend less because their confidence has been dented; deficit cutting could suppress growth; new financial regulations could damp bank lending; American property prices could fall further; and exchange rates could go haywire. And the upside risks? The IMF doesn’t proffer any.

Now that sounds a little more realistic.

Source: Business Pundit | 8 Jul 2010 | 9:54 am

Sandwich-In-A-Can Financier Sued For Fraud

Source: NPR Blogs: Planet Money | 8 Jul 2010 | 9:16 am

Solar Plane Completes Record Night Flight

A Swiss team has completed the world’s first overnight flight in a solar plane. Reuters has more about this jaw-dropping inspiring feat:

Solar Impulse, whose wingspan is the same as an Airbus A340, flew 26 hours and 9 minutes, powered only by solar energy stored during the day. It was also the longest and highest flight in the history of solar aviation, organizers said.

Bertrand Piccard, the Swiss president of the project, best known for completing the first round-the-world flight in a hot air balloon in 1999, said the success of the flight showed the potential of renewable energies and clean technology.

The Solar Impulse HB-SIA, which has 12,000 solar cells built into its 64.3-meter (193-foot) wings, is a prototype for an aircraft that its creators hope will carry out its first circumnavigation of the globe from 2012. Weighing just 1,600 kg (3,500 lb), as much as a medium-sized car, the plane powered by four electric motors is designed to save energy from its solar cells in high-performance batteries.

Sponsors of the project, whose budget is 100 million Swiss francs ($95 million), include Belgian chemicals company Solvay SA, Swiss watchmaker Omega, part of the Swatch group, and German banking giant Deutsche Bank. France’s Altran is the project’s engineering partner.

Businessweek puts the flight into context:

The flight was part of the project’s 100 million Swiss franc ($95 million) effort sponsored by Deutsche Bank AG, Germany’s biggest bank, to eventually pilot the first flight around the globe in an airplane using only solar energy.

“Before yesterday morning, we didn’t have credibility,” Piccard, known for his record-setting 1999 balloon flight around the world, said on the group’s website. “It’s time to use this success to demonstrate in the political and economic world how we can use this clean technology.”

Is the technology marketable? Not yet, according to the AP:

The team says it has now demonstrated that the single-seat plane can theoretically stay in the air indefinitely, recharging its depleted batteries using 12,000 solar cells and nothing but the rays of the sun during the day.

But while the team says this proves that emissions-free air travel is possible, it doesn’t see solar technology replacing conventional jet propulsion any time soon. Instead, the project’s overarching purpose is to test and promote new energy-efficient technologies.

Piccard said he was confident the success of the night flight would help to secure the 20 million Swiss francs ($19 million) still missing for the privately funded project with a total budget of 100 million francs ($95 million).

Solar Impulse is building new prototypes to cross the Atlantic, then circumnavigate the globe. The solar plane, which reached a maximum ground speed of 68 knots, is probably too slow to become marketable in the foreseeable future. But what the Solar Impulse accomplished is incredible. With years of improvement in speed and carrying capacity, we may actually see commercial solar flight. Amazing.

Source: Business Pundit | 8 Jul 2010 | 9:07 am

Brazil Consumer ETF to Trade in New York, Global X Says: Audio

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 8:36 am

BP: Leak May Be Fixed Sooner Than Expected (Early Bird)

The company said it could halt the spill as soon as July 27.

Source: SmartMoney.com | 8 Jul 2010 | 7:37 am

Financial Firms Are Hiring. Time to Buy? (On the Street)

What to make of regional upticks in financial services jobs.

Source: SmartMoney.com | 8 Jul 2010 | 7:36 am

Campbell on Stocks, Callow on Europe, ECB: First Word

Source: Bloomberg - All Podcasts | 8 Jul 2010 | 7:16 am

Oil prices rise, lifted by stock market rally (AFP)

AFP - Oil prices rose on Thursday, winning support from rising stock markets ahead of the publication of key US energy inventory data, analysts said.

Source: Yahoo! News: Stock Markets News | 8 Jul 2010 | 5:56 am

Hackers in Real Life

Image: SMBC Comics

Source: Business Pundit | 8 Jul 2010 | 4:51 am

European shares higher before rate calls (AFP)

AFP - Europe's main stock markets climbed on Thursday, extending a recent run upwards, as investors awaited key European interest rate decisions.

Source: Yahoo! News: Stock Markets News | 8 Jul 2010 | 4:48 am

3 Thrifty Companies With 3% Dividends (Screens)

Hough: Slow spending growth bodes well for these high-yield shares.

Source: SmartMoney.com | 8 Jul 2010 | 4:01 am

Aeropostale: Discounter With a New Sense of Style

The company's stock price has just begun to reflect its bright prospects.

Source: SmartMoney.com | 8 Jul 2010 | 4:01 am

Your Business vs. Cyber Bullies (Smart Ideas)

Machan: How to fight back if your business gets negative online reviews.

Source: SmartMoney.com | 8 Jul 2010 | 4:01 am

China in record Japan sovereign debt buy

Beijing bought a record amount of Japanese government bonds in May in an apparent shift of more of its massive foreign exchange reserves into Japanese debt
Source: Financial Times - US homepage | 8 Jul 2010 | 2:46 am