|
|
|
|
Auto Review: 2011 Ford Fiesta: A must-drive small carFord has a heck of a car here, one that consumers worrying about the price of gasoline, or seeking a back-to-college car for the offspring, should put at the top of their list.
Source: MarketWatch.com - Top Stories | 17 Jul 2010 | 4:01 am Fashion sales rise despite the 'crunch'At the height of the credit crunch, high-end fashion suffered just as much as other retailers.Source: BBC News - Business | 17 Jul 2010 | 3:27 am Transaction tax may cool China housing: PBOC adviserBEIJING (Reuters) - Higher taxes on property transactions would do more than a property tax to curb speculation, an influential Chinese policy maker said in an editorial published on Saturday, in which he advocated maintaining current cooling measures in the second half.
Source: Reuters: Business News | 17 Jul 2010 | 2:39 am Family out of pocket after Goldtrail collapseTour operator Goldtrail has collapsed, leaving thousands of holidaymakers stranded abroad and tens of thousands facing the possibility of losing out on their holidays.Source: BBC News - Business | 17 Jul 2010 | 2:05 am BP, scientists try to make sense of well puzzle (AP)
Source: Yahoo! News: Business News | 17 Jul 2010 | 1:57 am Russia signs key gas agreement with Bulgaria (AFP)
Source: Yahoo! News: Business News | 17 Jul 2010 | 1:51 am Making a living from Lebanon's landFamilies in Lebanon's Bekaa Valley region are being encouraged to maintain traditional farming methods.Source: BBC News - Business | 17 Jul 2010 | 1:03 am Dubai's main stock exchanges mergeDubai's two stock exchanges - the Dubai Financial Market and the Nasdaq Dubai - have joined forces to raise the region's profile and market interest.Source: BBC News - Business | 17 Jul 2010 | 1:01 am Dow drops 261 points on consumer confidence, earnings dataIndexes go into the red for the week, with the Dow off 1%, the S&P; 500 down 1.2% and the Nasdaq declining 0.8%. Investors drive the yield on the 10-year Treasury note up to 2.94%. ...Source: RSS feed - channel BNPaperBusiness | 17 Jul 2010 | 1:00 am Skating closer to deflationWith the U.S. economy clearly slowing, a broad-based, sustained decline in prices becomes a bigger risk. The consequences could be dire. ...Source: RSS feed - channel BNPaperBusiness | 17 Jul 2010 | 1:00 am California job climate stagnant in JuneThe state unemployment rate fell slightly to 12.3%, but 27,600 jobs were lost as census positions expired, an EDD report says. Some economists fear a double-dip recession unless jobless benefits are extended...Source: RSS feed - channel BNPaperBusiness | 17 Jul 2010 | 1:00 am Mattel's profit doubles but falls short of estimates; shares fallToy maker posts a second-quarter profit of $51.6 million, or 14 cents a share, a penny lower than investors were expecting. The stock loses nearly 10%. ...Source: RSS feed - channel BNPaperBusiness | 17 Jul 2010 | 1:00 am Dow drops 261 points on consumer confidence, earnings dataIndexes go into the red for the week, with the Dow off 1%, the S&P 500 down 1.2% and the Nasdaq declining 0.8%. Investors drive the yield on the 10-year Treasury note up to 2.94%.The stock market suffered its biggest setback in three weeks Friday, with the Dow industrials sinking 261 points, as slack consumer confidence and troubling results from bellwether firms revived fears about the economic recovery's stamina.
Source: L.A. Times - Business | 17 Jul 2010 | 1:00 am Apple offers iPhone 4 owners free cases to fix antenna problemSteve Jobs both apologizes and defends the device in response to user complaints. Looking to quiet the chorus...Source: RSS feed - channel BNPaperBusiness | 17 Jul 2010 | 1:00 am Skating closer to deflationWith the U.S. economy clearly slowing, a broad-based, sustained decline in prices becomes a bigger risk. The consequences could be dire.Imagine a world where prices of all sorts of goods and services just keep moving down.
Source: L.A. Times - Business | 17 Jul 2010 | 1:00 am Mattel's profit doubles but falls short of estimates; shares fallToy maker posts a second-quarter profit of $51.6 million, or 14 cents a share, a penny lower than investors were expecting. The stock loses nearly 10%.Mattel Inc. reported robust second-quarter sales fueled by strong demand for its Barbie, Hot Wheels and Toy Story 3 lines, but earnings just missed Wall Street estimates.
Source: L.A. Times - Business | 17 Jul 2010 | 1:00 am Major water parks in Southern CaliforniaKnott's Soak City ; Buena Park; adjacent to Knott's Berry Farm, one of three water parks operated by parent company Knott's Berry Farm.Source: RSS feed - channel BNPaperBusiness | 17 Jul 2010 | 1:00 am Toyota-Tesla plan to build electric RAV4 shows partnership is seriousElectric SUV is the first project announced by the companies since Toyota purchased about 3% of Tesla for $50 million this year, a move that had raised eyebrows. ...Source: RSS feed - channel BNPaperBusiness | 17 Jul 2010 | 1:00 am Toyota-Tesla plan to build electric RAV4 shows partnership is seriousElectric SUV is the first project announced by the companies since Toyota purchased about 3% of Tesla for $50 million this year, a move that had raised eyebrows.A plan to sell an electric version of Toyota's RAV4 sport utility vehicle two years from now demonstrates that the alliance between Tesla Motors Inc. and the Japanese automaker is more than just window dressing, analysts said.
Source: L.A. Times - Business | 17 Jul 2010 | 1:00 am California job climate stagnant in JuneThe state unemployment rate fell slightly to 12.3%, but 27,600 jobs were lost as census positions expired, an EDD report says. Some economists fear a double-dip recession unless jobless benefits are extended.California's labor market stagnated in June as temporary federal census workers lost their jobs and about 400,000 out-of-work people exhausted their unemployment benefits.
Source: L.A. Times - Business | 17 Jul 2010 | 1:00 am Right climate for water parksThe parks are getting a boost from affordable admission, 'stay-cation' families and hot weather.The gates had not yet opened at Raging Waters in San Dimas on a recent sunny morning, but assistant Girl Scout leader Brenda Mauss was already in the parking lot urging her five charges to slather on the sunscreen.
Source: L.A. Times - Business | 17 Jul 2010 | 1:00 am Man makes sky-high debt protest in SpainA Madrid construction worker has spent several weeks living at the top of a crane in protest at not being paid.Source: BBC News - Business | 17 Jul 2010 | 12:13 am Outside the Box: Seeing China's next challenge up closeThe first thing you notice in China is the people, the sheer number of them, and it’s the last thing you see when you leave, writes Howard Gold.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 10:01 pm Market Snapshot: U.S. stocks look for footing as earnings pour inThe U.S. stock market is likely to begin the new week in a less-than-calm state, with investors veering between hope and despair after a slew of disappointing economic reports and a mixed burst of quarterly earnings reports.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 10:01 pm Stocks to Watch: Stocks to watch Monday: Texas InstrumentsAmong the companies whose shares are expected to see active trade in Monday's session are Texas Instruments Inc., Halliburton Co. and Hasbro Inc.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 10:01 pm Greece central banker sees lenders passing stress testsATHENS (Reuters) - Greece's central bank chief said he expected the country's lenders to smoothly pass European Union stress tests to be published next week.
Source: Reuters: Business News | 16 Jul 2010 | 9:59 pm 90-day trial a 'safety belt' for employersEmployers are pleased with the 90-day trial period for new workers, though workers sometimes feel vulnerable and mistreated, a Department of Labour report shows.Prime Minister John Key is expected to announce an extension of the...Source: nzherald.co.nz - Business | 16 Jul 2010 | 9:54 pm Bank of America, Citigroup earnings top expectationsBofA posts $3.1 billion and Citigroup $2.7 billion, but their shares fell on concerns about possible costs from the financial overhaul.Bank of America Corp. and Citigroup Inc. reported better-than-expected quarterly profits Friday on lower credit losses. But their shares fell on concern about the economy and the costs they face from financial regulation.
Source: L.A. Times - Business | 16 Jul 2010 | 9:52 pm Bank of America, Citigroup earnings top expectationsBofA posts $3.1 billion and Citigroup $2.7 billion, but their shares fell on concerns about possible costs from the financial overhaul. ...Source: RSS feed - channel BNPaperBusiness | 16 Jul 2010 | 9:52 pm Key tight-lipped on SuperCity mayorPrime Minister John Key is keeping tight-lipped over who he will be voting for in the race to be mayor of the Supercity.Mayoral candidate John Banks, a National Party member, opened the National Party annual conference this morning...Source: nzherald.co.nz - Business | 16 Jul 2010 | 8:19 pm Apple CEO on antenna problem: 'We aren't perfect' (AP)
Source: Yahoo! News: Business News | 16 Jul 2010 | 7:38 pm Defiant Jobs stands by iPhone 4, dishes out casesCUPERTINO, California (Reuters) - A defiant Steve Jobs on Friday rejected any suggestion the iPhone 4's design was flawed, but offered consumers free phone cases to address reception complaints that have hurt Apple Inc's image and shares.
Source: Reuters: Business News | 16 Jul 2010 | 7:35 pm Australia's Healthscope considering two final bids -sourcesSYDNEY, July 17 (Reuters) - Australian hospital group Healthscope has received final takeover bids from private equity group Kohlberg Kravis Roberts & Co and a consortium of TPG [TPG.UL] and Carlyle...Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 7:16 pm UPDATE 1-Telefonica, Televisa win in Mexico frequency tender* Bidding on 1710 to 2170 MHz range ongoing (Updates with Telefonica quote)Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 7:08 pm Apple offers iPhone 4 owners free cases to fix antenna problemSteve Jobs both apologizes and defends the device in response to user complaints.Looking to quiet the chorus of complaints about his company's newly released phone, Apple Inc. Chief Executive Steve Jobs took the stage Friday to offer an explanation, an apology and a free case.
Source: L.A. Times - Business | 16 Jul 2010 | 6:41 pm Jobs apologises for iPhone 4 faultApple’s chief executive gave a grudging apology for the reception problems plaguing the device and said the company would give free cases to all buyers at least until the end of SeptemberSource: Financial Times - US homepage | 16 Jul 2010 | 6:07 pm Suit against artificial-turf firms is settledBeaulieu Group and FieldTurf USA agree to eliminate nearly all lead from their products to settle charges that they violated California's Proposition 65. ...Source: RSS feed - channel BNPaperBusiness | 16 Jul 2010 | 5:58 pm Suit against artificial-turf firms is settledBeaulieu Group and FieldTurf USA agree to eliminate nearly all lead from their products to settle charges that they violated California's Proposition 65.The nation's largest artificial turf supplier and manufacturer have agreed to eliminate nearly all lead from their products as part of an agreement to settle charges that they violated California's Proposition 65 law by not including warning labels, state officials said Friday.
Source: L.A. Times - Business | 16 Jul 2010 | 5:58 pm Canadian Markets: Canadian stocks finish week on down noteShares relinquish weekly gains and mirror weakness in the U.S. equities market, as investors grew concerned about economic prospects for Canada’s biggest export partner.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 5:53 pm Relief fails to lift bank stocksThe lifting of two of the biggest clouds hanging over the financial sector – uncertainty over Washington’s new rules for Wall Street and a high-profile regulatory action against Goldman Sachs – failed to revive US banking stocksSource: Financial Times - US homepage | 16 Jul 2010 | 5:48 pm The week's biggest winning and losing stocksWeyerhaeuser fared best, while Lincoln National did the worst among S&P 500 stocks for the week ended July 15.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 5:32 pm U.S. bank results portend investment bank woesNEW YORK (Reuters) - It was a quarter that left investment banking businesses, the once-vaunted profit engines of Wall Street, sputtering.
Source: Reuters: Business News | 16 Jul 2010 | 5:25 pm Austerity rules at frugal FarnboroughFARNBOROUGH (Reuters) - Cocktails will be well down the to-do list at next week's Farnborough Airshow as arms companies strive to reflect the growing mood of austerity.
Source: Reuters: Business News | 16 Jul 2010 | 5:08 pm AIG to pay $725m to settle lawsuitAIG is to pay $725m to a group of Ohio pension funds to settle a six-year-old class-action lawsuit over allegations of securities fraudSource: Financial Times - US homepage | 16 Jul 2010 | 5:03 pm Update: The "haul video" phenomenonTess Vigeland offers an update on the phenomenon of "haul videos."Source: Marketplace Money | 16 Jul 2010 | 5:02 pm Warning on packaged bank accountsFinancial advisers have sounded warnings about some bank accounts which charge monthly fees in exchange for extra benefits.Source: BBC News - Business | 16 Jul 2010 | 5:00 pm Fast-food giant eating up the worldThe Colonel's army is on the march. Vast swathes of China have fallen under his dominion, and he is making inroads in India and Russia.It is one of the great American conquests of our time: the Kentucky Fried Chickenification...Source: nzherald.co.nz - Business | 16 Jul 2010 | 5:00 pm Govt must resist calls to spend - EnglishFinance Minister Bill English has warned National Party delegates that the Government will come under pressure to spend more in election year - and will need to resist.Speaking at the National Party annual conference today, Mr...Source: nzherald.co.nz - Business | 16 Jul 2010 | 5:00 pm AIG's fraud case settlements total $1 billionThe Ohio Attorney General's office announced today that a class of three pension funds it represented in fraud complaints against AIG have settled with the federally-owned insurance giant for $750 million.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 4:56 pm Empathy for debt collectors?This week the Federal Trade Commission issued a report calling for major changes in the debt collection industry. Robert Andrews analyzes the debt industry.Source: Marketplace Money | 16 Jul 2010 | 4:52 pm AIG agrees to $725m fraud payoutThe US insurance giant AIG agrees to pay shareholders $725m (474m) to settle a long-running fraud case against it.Source: BBC News - Business | 16 Jul 2010 | 4:50 pm UPDATE 2-Slim, Azcarraga sell stakes in Mexican airline* Indigo Partners LLC, one of new partners (Recasts with Volaris announcement, adds details on deal)Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 4:37 pm U.S. Housing Bubble Leaves $4 Trillion Hangover: Chart of DaySource: Bloomberg - All Podcasts | 16 Jul 2010 | 4:37 pm Mile high classBombardier predicts the revival of the business jetSource: BBC News - Business | 16 Jul 2010 | 4:36 pm Getting PersonalTess Vigeland and personal finance expert Kathy Kristoff answer your questions on how a newly-wed couple should handle joint finances and how a cash-strapped family can manage to add to their savings.Source: Marketplace Money | 16 Jul 2010 | 4:35 pm US markets slump on double-dip fearsWall Street plunged on Friday after disappointing economic data and worse-than-expected corporate earnings prompted fears of a double-dip recession.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 4:35 pm GE breaks string of profit drops but revenue falls (AP)
Source: Yahoo! News: Business News | 16 Jul 2010 | 4:34 pm Write-Offs: 07.16.10
$$$ Charlie Gasparino: Lloyd Blankfein’s Days Are Numbered [HuffPo] $$$ North Haledon, a northern New Jersey suburb where the median family income is 162 percent of the U.S. average, had its debt rating cut amid concerns that the state’s new 2 percent property-tax cap will strain borough finances. Moody’s Investors Service downgraded the town of 9,000 residents one level to A1 from Aa3, and assigned a negative outlook. “I have zero respect for Moody’s,” the community’s auditor, Chuck Ferraioli, said in a phone interview from his office in Pompton Lakes. “We’re paying our debts and we always will. Moody’s is so out of touch.” [Bloomberg] $$$ Trump Requests Services Of Rachel Uchitel [TMZ] $$$ Ex-Goldman Programmer Wants Theft Charges Tossed [Bloomberg]
 Source: Dealbreaker | 16 Jul 2010 | 4:33 pm Catalano, Lieberman, Dietze Discuss Markets: Taking StockSource: Bloomberg - All Podcasts | 16 Jul 2010 | 4:28 pm HCL boss spends £7m on husband's medical companyKate Bleasdale's Healthcare Locums has agreed a £6.7m deal for a company owned by her husband, John Cariss, despite a "going concern" warning on the accounts.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 4:27 pm The Friday Podcast: Death Saves You Money
Mel Evans/AP
A decade ago, Philip Morris commissioned a study that found smokers in the Czech Republic were actually saving society money. A big part of the savings: Smoking tends to kill people while they're still young, saving society the long-term costs of caring for them as they get older. Perhaps not surprisingly, this finding blew up in the company's face. Newspapers around the world picked up the story: "Smoking Cuts Elderly Costs, and Elderly" The company furiously backtracked: "We understand the outrage that has been expressed and we sincerely regret this extraordinarily unfortunate incident." Activists used the study's findings against the industry — and, paradoxically, sought to undermine the study's conclusions. On today's Planet Money, we tell the story of the study. And we look more broadly at the economics of this stuff. For more on the story of the Czech smoking study, listen to our piece on this weekend's This American Life. (Find out when the show airs on your local station.) For further reading: Here's the study Philip Morris commissioned. Here's a frequently cited study from the mid-'90s comparing cigarette taxes to the costs smoking imposes on society. Here's another study on the subject from the Congressional Research Service. Download the podcast, or Subscribe. Music: Rufus Wainwright: "Cigarettes and Chocolate Milk." Find us: Twitter/ Facebook/ Flickr. Source: NPR Blogs: Planet Money | 16 Jul 2010 | 4:24 pm Judge strikes down Facebook asset freezeIf Facebook wants to buy its imminent 500 millionth user a drink to celebrate, it will be able to: A federal court judge on Friday struck down the restraining order that temporarily bound the company's assets earlier this month.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 4:19 pm AIG to pay $725 million to settle fraud caseNEW YORK (Reuters) - American International Group Inc agreed to pay $725 million to settle a long-running securities fraud lawsuit led by three Ohio public pension funds, in one of the largest class action settlements in U.S. history.
Source: Reuters: Business News | 16 Jul 2010 | 4:17 pm New Hyundai plant creates 480 American jobsKorean company Hyundai Heavy Industries will build its first American factory in Alabama, creating about 480 new jobs when it opens next year, Alabama Gov. Bob Riley announced Friday.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 4:13 pm UPDATE 1-Epocrates files for $75 mln IPOJuly 16 (Reuters) - Clinical information provider Epocrates Inc filed with U.S. regulators on Friday to raise up to $75 million through an initial public offering of common stock.Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 4:06 pm Financial Stocks: Financial stocks post worse loss since late MayFinancial stocks close Friday with their steepest one-day percentage drop since May 20 on investor concerns about the chance of a double-dip recession and banks' ability to generate revenue, fears that overrode better-than-expected profits and Goldman Sachs Group Inc.'s settlement.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 4:05 pm Personal Finance Daily: Market timer or buy-and-holder, times are toughAre you a market-timer investor, watching trends and moving in and out of the stock market ahead of the crowd (if all goes well), or are you a buy-and-holder, plugging your money into a few key mutual funds and hoping time, and diversification, do the trick?
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 3:59 pm Latin American Markets: Brazil's stock index slide 1.8%Brazilian stocks on Friday fell by the largest percentage margin since June 29 as a combination of weak U.S. data and disappointing corporate earnings highlighted ongoing economic uncertainties.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 3:58 pm Pangea’s McDonald on Financial Overhaul, Goldman: Taking StockSource: Bloomberg - All Podcasts | 16 Jul 2010 | 3:57 pm Another Johnson & Johnson drug plant gets flaggedJohnson & Johnson, already under fire from the government over deplorable conditions at a Pennsylvania plant that makes children's pain and cold drugs, is now being cited for problems at another one of its drugmaking plants in the state.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 3:56 pm Right climate for water parksThe parks are getting a boost from affordable admission, 'stay-cation' families and hot weather. The gates had...Source: RSS feed - channel BNPaperBusiness | 16 Jul 2010 | 3:56 pm Poof! Week's stock gains erasedStocks slumped Friday after financial firms Bank of America and Citigroup reported weaker quarterly revenue and a plunge in consumer sentiment revived concerns about the economic outlook.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 3:55 pm Skilled Healthcare, Lehman Swap Appeal: Bankruptcy ReviewSource: Bloomberg - All Podcasts | 16 Jul 2010 | 3:54 pm Soros says U.S. bank reform "good" but "too early"EAST HAMPTON, New York (Reuters) - Billionaire investor George Soros on Friday said the just-passed U.S. financial overhaul bill will impose new regulations on the banking system before the banks have recovered sufficiently to cope with new restrictions on their activities.
Source: Reuters: Business News | 16 Jul 2010 | 3:54 pm How the major stock indexes fared on Friday (AP)AP - Stocks slumped Friday after second-quarter earnings at two major banks fell short of expectations and a new survey found that consumers are becoming more pessimistic. Citigroup and Bank of America had lower trading revenue because of the stock market's plunge this spring, and a survey from the University of Michigan and Reuters found that consumers' gloom is increasing.Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 3:53 pm Cameron to fight BP’s corner in USDavid Cameron will next week defend BP on a two-day visit to Washington, insisting the group must have a “stable and strong” future for the sake of the UK economy and the pensioners who rely on its dividendsSource: Financial Times - US homepage | 16 Jul 2010 | 3:51 pm Telefonica, Televisa win in Mexico frequency tenderMEXICO CITY, July 16 (Reuters) - Spain's Telefonica, tycoon Ricardo Salinas and broadcasting heavyweight Televisa made ($230 million) in winning bids to acquire wireless frequencies in one of two tenders,...Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 3:50 pm BP spill timeline marks 87 days since blastThe saga surrounding the worst oil spill in U.S. history on Friday reached its 87th day since the Deepwater Horizon blast on April 20 killed 11 workers and caused a gusher of up to 60,000 barrels a day into the Gulf of Mexico.
Source: MarketWatch.com - Top Stories | 16 Jul 2010 | 3:49 pm GOP's jobs ideas: Keep Bush tax cuts, freeze regulations (The Christian Science Monitor)The Christian Science Monitor - As President Obama prepares to sign the second historic reform bill of his administration â health care in March, finance reform next week â Republicans are offering their own answers to why jobs have not recovered and enlisting business groups to help make their case.Source: Yahoo! News: Business News | 16 Jul 2010 | 3:43 pm Stocks drop on weak consumer sentiment, bank earns (AP)
Source: Yahoo! News: Business News | 16 Jul 2010 | 3:41 pm Stocks drop on weak consumer sentiment, bank earns (AP)
Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 3:41 pm FACTBOX-Oilfield services Q2 impact of Gulf/Mexico disasterJuly 16 (Reuters) - The second quarter was far worse for companies that rent offshore rigs to oil companies than for firms that provide services for them while drilling, since rig contractors have nowhere...Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 3:34 pm Hedge fund develops taste for chocolate assetsA London hedge fund has swept up a large chunk of the world’s stocks of cocoa beans, helping to drive prices of the basic ingredient of chocolate to their highest level in 33 yearsSource: Financial Times - US homepage | 16 Jul 2010 | 3:33 pm Obama cautious on spill progressPresident Obama says there is much work to do, despite no oil leaking from BP's Gulf of Mexico well for 24 hours.Source: BBC News - Business | 16 Jul 2010 | 3:29 pm US banks paying more than half of Britain's £2.5bn bonus tax windfallAmerica's three largest banks have paid £1.26bn in taxes on the bonuses of their UK-based staff.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 3:24 pm Alistair Darling sure failed to change bankers - just look at the bonus taxThat's another failure to add to Alistair Darling's (long) list.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 3:22 pm Banks eye higher fees to boost declining revenue (AP)AP - Big banks facing big drops in revenue are looking to Main Street to make up the difference.Source: Yahoo! News: Business News | 16 Jul 2010 | 3:17 pm UPDATE 1-Ecopetrol, KNOC to invest $120 mln in Peru* Investment to reach $120 million (Adds details and quotes)Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 3:17 pm Bank of America, Citi results show hurdles aheadCHARLOTTE, N.C./NEW YORK (Reuters) - Bank of America and Citigroup shares fell as the banks' results highlighted the sluggishness of the U.S. economic recovery and costs of potential regulation, offsetting better-than-expected quarterly profits on lower credit losses.
Source: Reuters: Business News | 16 Jul 2010 | 3:17 pm Goldman Sachs' $550m fine no 'heavy price' if markets are anything to go byForget the tough talk from Robert Khuzami, head of the Securities and Exchange Commission. Friday's initial $7 rise in Goldman Sachs' share price speaks volumes.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 3:12 pm Why Bill Gross Likes Stocks: Bloomberg Markets (Correct)Source: Bloomberg - All Podcasts | 16 Jul 2010 | 3:04 pm U.S. 2nd-quarter earnings seen up 28 percent vs year agoNEW YORK (Reuters) - Estimates for second-quarter earnings edged higher in the latest week as results from bellwether companies like Intel Corp bolstered expectations for the quarter.
Source: Reuters: Business News | 16 Jul 2010 | 3:02 pm Less-confident consumers could stall recovery (AP)
Source: Yahoo! News: Business News | 16 Jul 2010 | 3:01 pm Wall Street dives on weak consumer sentiment and revenues (Reuters)
Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 2:59 pm US stocks dive on falling consumer sentiment, mixed earnings (AFP)
Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 2:58 pm Why iPhone case makers aren't hitting the jackpotIt's the best of times and the worst of times for iPhone 4 case makers.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 2:57 pm US stocks down on recovery fearsLeading US stock markets tumble more than 2.5% as poor company results and fresh economic data hit investor confidence in the economic recovery.Source: BBC News - Business | 16 Jul 2010 | 2:55 pm Giant 'super skimmer' no help with Gulf oil spillHOUSTON, July 16 (Reuters) - A Taiwanese-owned "super skimmer" ship sent to help clean up the Gulf of Mexico oil spill has collected virtually no oil in two weeks of tests, a U.S. Coast Guard official...Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 2:51 pm Mexico's Televisa sells 25 pct stake in airlineMEXICO CITY, July 16 (Reuters) - Mexican broadcaster Televisa said on Friday it sold its 25 percent stake in local low-cost airline Volaris for $81 million.Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 2:47 pm Consumer prices drop, sentiment soursWASHINGTON (Reuters) - Weak energy costs pushed U.S. consumer prices down for a third straight month in June while consumer sentiment dropped to a near one-year low in July, highlighting the sluggishness of the economic recovery.
Source: Reuters: Business News | 16 Jul 2010 | 2:45 pm BMW pays German - but not British - staff €1,000 thank you bonusBMW is to pay its 70,000 German staff a one-off bonus for their commitment and flexibility during "difficult times" in the recession.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 2:42 pm Stocks Tumble as Optimism Fades (Market Update)U.S. stocks plunged, as a double dose of discouraging earnings reports and concerns...
Source: SmartMoney.com | 16 Jul 2010 | 2:40 pm UPDATE 1-PT board has no decision on Vivo stake sale-sources* Telefonica's 7.15 bln euro bid expires at midnight (Updates with background, PT share price)Source: RSS feed - channel BNewsBusiness | 16 Jul 2010 | 2:26 pm A Step Toward 401(k) Fee TransparencyNew regulation gives employers more information about retirement plans.
Source: SmartMoney.com | 16 Jul 2010 | 2:25 pm Greenlight Capital Modestly Suggests They Have No Idea What’s Going To Happen To The Economy (Sorry, We’re Not Falling For That One Again)
Greenlight Capital Q2 Letter [PDF]
Source: Dealbreaker | 16 Jul 2010 | 2:25 pm Ryanair to to carry a record 7m passengersRyanair is to become the first European airline to carry more than 7m passengers in a month after a rush of bookings due to the end of the World Cup.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 2:22 pm Buncefield explosion: Five companies fined £9mTotal, the French energy giant, and four other companies must pay £9m in fines for safety violations that led to an oil depot explosion measuring 2.4 on the Richter scale.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 2:13 pm Beamers Cafe: “Not Some Fly By Night Organization”
To perform the DD, I enlisted the help of my special assignments colleague, K, along with a couple of bankers/lap dance enthusiasts. As their employers do not pay them to review strip clubs, the boys were not able to leave the office on time to make a 6:20 train, so we planned to meet them out there. As we approached Stamford, I shared with K that I had that scared/excited feeling (the kind where you’re not sure if it’s 98% scared/2% excited or the other way around, which is what makes it so intense). We arrived in Stamford at 7:05 and as I wanted to be very scientific about this whole thing, figured we’d spend a couple hours at a bar beforehand, because I reasoned that most people probably don’t get off work and head directly to Beamers but rather make the executive decision to go once they’ve been drinking and someone comes up with the bright idea (I had no idea if this was actually true, but it seemed like it could be true, which is all that matters). [Editor's note: This turned out not to be true; our contact there later informed us that it was “packed” at 6pm because this was Go-Go Thursdays, the third Thursday of every month, and ALL the dancers are required to make an appearance at that time. She assured us it would get busy again around midnight, which it did.] So we needed to kill some time in that regard and also because I needed to be bombed in order to work up the courage to do this. We got off the train and not having a particular destination in mind, and as any place would do, just decided to walk until we ran into a bar. We passed UBS and while I felt like the “UBS sucks!” guy would’ve approved of us brown-bagging it in front of the building, decided to keep going. The first place we came across was called Tiernan’s but there was a long line out the door and needing liquor stat, couldn’t be bothered. Then, out of the corner of my eye, I saw it. Hula Hanks. A marginally Hawaiian themed bar where there’s one of those wheels you spin that has the options to land on a variety of shots, Swedish Fish or “take off your panties”? Obviously there was no better place to pre-game for the exotic dancers, so in we went. Long Island Iced Teas seemed like the way to go and after I had three (maybe four?) of those felt sufficiently ready to meet the girls. We hopped in a cab and before I could finish saying “We’re going to Beamers Cafe, but I need to check what the address is” the driver was turning the corner. “Oh I don’t need it. I know exactly where that is,” he told us. I had been previously informed that the Cafe was not the safest place, not in a good section of town, that it gave off a menacing vibe and that drug deals in the parking lot are standard. I don’t consider myself a puss but I was legitimately scared. “It’s definitely fine,” the cabbie said. “You girls have nothing to worry about.” A minute later we pulled up to a very non-intimidating-looking place, and as we got out of the car, a couple walked by pushing a stroller. Lady and baby pretty much allayed all my fears of getting killed then and there. [Editor's Note: We were told later that the other end of the block, on the opposite side from our approach, is a menacing empty lot/vacant building type thing harboring certain amounts of questionable activity, which is probably what the people were talking about.] Having read the Yelp reviews online (more on those later) before embarking on our trip, I knew that there was a front room and a “VIP Room” in the back (in addition to back-back room) and that we wanted to go to the latter. It was $30 each for cover and needing more cash was preemptively annoyed at what I assumed would be some sort of ridiculous fee at an in-house ATM but surprise! You can get cash-back on your credit card at the bar, which I think is nice, considering at Scores/Sapphire there’s apparently a $18.50 surcharge. (Just something to think about when you’re considering which Breast-Fest you want to attend.) ALSO: I noticed this morning that they bill your card to something called “WE, INC.” Just putting it out there in the event some of you could run in trouble for spending time at one of these places. We didn’t know how to get to the back room (you had to weave your way around what at the time seemed like a Labyrinth to get there but what I’m sort of thinking now was just a matter of walking from the front to the back. I don’t know if you’ve picked up on it, but we were prettay prettay prettay drunk). A very nice lady employee named Gianna offered to show us the way and proceeded to literally lead us by the hand. (More on G– who you should ask for should you go and tell her B and K sent you!– in a bit.) If the front room– where the actual dancing takes place, on long tables around which ballet lovers congregate– looked like some sort of seedy Atlantic City casino, the back room we agreed seemed like a sports bar (there were a bunch of games on)/vaguely reminiscent of hanging out in someone’s parents’ basement in high school. Lots of people sitting around on pretty comfortable leather couches on which people are dry-humping. So, nostalgia! Like handjobs or something (except I don’t actually think that’s allowed and you’d probably get in trouble for that). One of the other Yelp reviews I read stated the following:
Now, as I just previously stated, the atmosphere in the back wasn’t half bad. Having said that! I’m not exactly sure I would sign off on this being the *best* place to take a first date. Although if you are going to pull that move, please let me know ahead of time so I come and live-blog it. Another (amazing) review said this:
While he’s right about the lack of food, I don’t know if maybe we were there on the wrong night, but FYI, we did not see a single “guy running around naked, in chaps, and leather hats.” On the contrary, we did see a lot of ladies running around almost naked, and actually do think one of them was wearing a chaps-like costume. The three of us sat down on one of the couches and with some pretty skillful-looking lap dances happening within inches of us, asked G a little bit about her time there. Re: the recession affecting her income, she told us her take-home hasn’t changed much, and that apparently the guys aren’t tipping any less than they used to. The room was pretty crowded (and proceeded to get even more filled as time went on) but G did say that three years ago they were turning people away at the door (she added that their Friday and Saturday night levels are pretty much the same, on account of assloads of bachelor parties). She told us a lot of hedge fund employees and bankers come, but she doesn’t quiz them on what they do exactly during the day, as they come to Beamers “to get away from all that.” “Have you heard of this place SAC Capital” she asked us. We nodded cautiously (was a certain someone about to pop out in a bikini bottom and show us his moves I wondered, not wanting to get my hopes up!!!!). “A LOT of them would come here, now not as many,” she said. G also told us that while she’s never dated a customer, she has work friends who have, in case you’re looking for a place to meet women. Additionally, she said that while the vast majority of the patrons live and/or work in CT, they do regularly see guys coming in from New York, so I guess it’s something of a destination! G had to talk to her boss or something then and as if on cue, a dude plopped himself down in her vacated space and told us he had made the trip from NYC with some clients who wanted to come. “I didn’t really want to come, they made me,” he offered. He then told us he works for JPM and in the next breath “actually now I’m at this new hedge fund. It’s a legit shop, I wouldn’t have gone if it wasn’t.” My eyes started to wander during the conversation and while I can’t say that I’ve compared their work to their peers at other outfits, the lap dances (which are $25/each) looked pretty quality. The girls seemed to be into it, good flexibility, lots of positions (not all of which I understood– such as the girl with her head pushed into the arm of the couch– but figured it was something to be appreciated nonetheless). Also, we agreed that all of the racks looked real, if that’s something you care about. And then! To test the veracity of my claim that the LD’s were worth it, our boys finally made it. They confirmed our suspicions although in one round one of the girls “kept trying to have a conversations” throughout the thing which he wasn’t so amped about but wasn’t going to make a stink about either. We headed home a couple hours later (this time being driven- thanks L!) but not before sticking some bills in the back of a brightly colored g-string, slapping an ass and telling them we’d be back with reinforcements. Further Reading: Beamers Cafe Named Best Strip Club In Fairfield County 2010
Source: Dealbreaker | 16 Jul 2010 | 2:10 pm Apple: Free cases for iPhone4 ownersAt its highly anticipated press conference, Apple said Friday that iPhone 4 owners would get a free case to prevent the "death grip" that causes the smart phone's signal to drop dramatically when held a certain way.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 1:59 pm Call Center: 101Marketplace reporter, Gregory Warner, walks listeners through how a health insurance call center representative is created.Source: Marketplace Money | 16 Jul 2010 | 1:34 pm Next Week’s 11 DJIA Component Earnings On Deck (IBM, JNJ, KO, UTX, MMM, T, TRV, AXP, MSFT, MCD, VZ, DIA)This week brought about 5 of the 30 Dow Jones Industrial Average components that have reported earnings this earnings season. We have a mixed fanfare so far, but next week we have a larger group of 11 components reporting earnings and the 3 largest components in the DJIA (price-weighted index) are reporting. We have compiled [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 1:30 pm Decoding the psychology of tradingThe public has woken up to the failure of the efficient market hypothesis, and behavioural finance is an obvious beneficiarySource: Financial Times - US homepage | 16 Jul 2010 | 1:28 pm Did Goldman Sachs Get Off Easy? (U.S. News & World Report)
Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 1:28 pm Barack Obama keeps pressure on BP as oil leak seal holdsPresident Barack Obama warns BP still has a "big job to do", despite positive signs that a seal on its leaking Gulf of Mexico well will hold.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 1:22 pm Republicans: Ban all new regulationsHouse GOP Leader John Boehner said he supports a ban on all new federal regulations, after meeting Friday with business lobbyists who complained about uncertain economic conditions.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 1:18 pm Gold Remains Great for the Long Haul (Ahead of the Curve)Luskin: The reasons that gold bears use just don't add up.
Source: SmartMoney.com | 16 Jul 2010 | 1:05 pm China reduces US Treasury debt holdings in May (AP)AP - China reduced its holdings of U.S. Treasury debt in May as total foreign holdings of government debt posted a slight increase.Source: Yahoo! News: Business News | 16 Jul 2010 | 1:00 pm FTSE 100 reverses gains on US growth worriesTransatlantic worries weighed on the blue-chips on Friday, which lost all the morning's gains in the wake of a wave of results from the other side of the pond that renewed anxieties about the rate of US economic growth.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 16 Jul 2010 | 12:57 pm Debt collector: 'I was ruthless'These people share their experiences in the collections industry -- and why they left.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 12:56 pm Cheapskates who learned their lessonsMarketplace asked you to submit your story of when being a cheapskate ended up smacking you in the fact. Here are our top favorites.Source: Marketplace Money | 16 Jul 2010 | 12:53 pm Spanish youth unemployment at highest in EuropeSpain holds the record of having the highest unemployment rate among its youth -- those between 16 and 24 years old -- but not everyone is keen on reforming Spain's labor market.Source: Marketplace Money | 16 Jul 2010 | 12:52 pm Florida: BP's next big messOil just stopped gushing out of the leak on the ocean floor Thursday, but its impact in Florida has only just begun to surface.Source: Business and financial news - CNNMoney.com | 16 Jul 2010 | 12:43 pm SEC creates units for financial firms, ABS (Reuters)Reuters - The Securities and Exchange Commission said on Friday it created three expert units to focus on big financial companies, complex securities and securities offerings.Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 12:39 pm Hintz Calls Goldman's SEC Settlement a `Win for Both': AudioSource: Bloomberg - All Podcasts | 16 Jul 2010 | 12:34 pm Thousands arrested in Asia gambling crackdownA regional operation tackles organised crime gangs in China, Malaysia, Singapore and Thailand, who are alleged to have placed illegal bets on the football World CupSource: Financial Times - US homepage | 16 Jul 2010 | 12:32 pm Smart Grid Challenges and Opportunities (CEG, CNP, DUK, NEE, PGN, EXC, HON, ED, WHR, GE, ELON, MTZ, GRID)Of the $787 billion federal stimulus bill passed in 2009, more than $3.4 billion was targeted at modernizing the US electricity transmission and distribution systems and promoting investments in smart grid technologies. When corporate investment is added to the stimulus spending, more than $8 billion is about to be invested in making improvements to the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 12:30 pm Damage Control: Apple Gets Defensive (Early Bird)Jobs addresses antenna problems and offers free case and return options.
Source: SmartMoney.com | 16 Jul 2010 | 12:29 pm Pop-up 'restaurants' deliver food direct to consumerChefs in the Bay Area are ditching the brick-and-mortar restaurant in lieu of more mobile approach - taking orders over the Internet and delivering food direct to the consumer. April Dembosky reports from Oakland, Calif.Source: Marketplace | 16 Jul 2010 | 12:24 pm Jobs iPhone Fix Speech Pushes Apple Higher On Offer Of Rubber Phone As Market Drops 2.5%Steve Jobs is an excellent public speaker. He proved that again when he defended the issue of reception problems with the Apple (NASDAQ: AAPL) iPhone 4. Apple’s stock is up about .5% to $252.05 while the NASDAQ is down 2.5%. Jobs said that all smartphones with similar features to the iPhone 4 have the weak [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 12:20 pm Is public transit really cheaper?In some areas of the country transit authorities are cutting service and raising fares. Matthew Schuerman looks at how New Jersey riders are coping with the increased expense.Source: Marketplace Money | 16 Jul 2010 | 12:20 pm A closer look at new reform billThe Senate voted in favor of a financial reform bill that President Obama is expected to sign next week. Travis Plunkett, legislative director for the Consumer Federation of America tells us what issues to look out for.Source: Marketplace Money | 16 Jul 2010 | 12:19 pm American credit scores plummetThe number of Americans with dismal FICO scores is going up. About 15 percent of Americans had a score of less than 600. But today, according to the Associated Press, it's more like 25 percent. Jeff Horwich reports.Source: Marketplace Money | 16 Jul 2010 | 12:19 pm US consumer regulation faces seismic shiftsThe stage has been set for financial reform, but the cast has not yet been chosen. One of the most closely watched decisions will be whether Barack Obama elects to appoint Elizabeth Warren as head of a new watchdogSource: Financial Times - US homepage | 16 Jul 2010 | 12:13 pm Dell proposes SEC deal, adjourns annual meeting (Reuters)Reuters - Dell Inc proposed a settlement with U.S. financial regulators over a long-running investigation of the computer maker's accounting, and adjourned its annual shareholders meeting on Friday.Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 12:09 pm Airline Earnings Hit Runway Next Week (CAL, UAUA, DAL, AAI, AMR, LCC, ALK, JBLU, LUV, FAA)Continental Airlines, Inc. (NYSE: CAL) may still be trying to score on its UAL Corporation (NASDAQ: UAUA) merger, but earnings season features almost every major airline out with earnings next week. The news out of the earnings front will dominate other headwinds for airlines. On deck are Continental Airlines, Inc. (NYSE: CAL), UAL Corporation (NASDAQ: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 12:06 pm Small Talk: Airline fees, New York subways, and retro stampsMarketplace's Brendan Newnam and Rico Gagliano chat with fellow staffers Tess Vigeland, Paddy Hirsch, and Jeremy Hobson about airline baggage fees, New York subways, and funny stampsSource: Marketplace | 16 Jul 2010 | 12:03 pm UK may eliminate national censusThe 2011 British national census may be its last -- many are questioning the value of the information and the $700 million price tag isn't appealing for a country with financial concerns of its own.Source: Marketplace | 16 Jul 2010 | 12:03 pm Weekly Wrap: Financial regulation and banksMarketplace's Tess Vigeland speaks with Felix Salmon from Reuters and Clusterstock's John Carney about the big week for financial regulation and big banks.Source: Marketplace | 16 Jul 2010 | 12:03 pm Many banks not understanding of Gulf businessmenOil may no longer be spilling into the Gulf, but it still leaves many Gulf businessmen at the mercy of banks and creditors who may not be sympathetic to their circumstances.Source: Marketplace | 16 Jul 2010 | 12:03 pm Was Apple really sorry about the iPhone 4?Apple CEO Steve Jobs held a conference today regarding the iPhone 4 and he offered a fix for the phone's reception problem -- a special case -- but he didn't seem too apologetic.Source: Marketplace | 16 Jul 2010 | 12:03 pm Speed cameras: Good or bad?Arizona shut down the speed cameras that patrolled some of the state's roads -- were they a success or a failure? Depends on who you ask.Source: Marketplace | 16 Jul 2010 | 12:02 pm SEC v. Goldman Sachs: Who won?The Securities and Exchange Commission settled with Goldman Sachs & Co. yesterday for $550 million for civil fraud charges of misleading investors -- $300 million in fines, and the rest as compensation for investors who lost money. But who wins in this situation?Source: Marketplace | 16 Jul 2010 | 12:02 pm Repaying Social Security Can Be a Good DealAfraid you'll outlive your savings? Consider a Social Security reset.
Source: SmartMoney.com | 16 Jul 2010 | 11:35 am A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Friday:Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 11:34 am 6 Reasons to Delay Retirement (U.S. News & World Report)U.S. News & World Report - The Senate Finance Committee held a hearing yesterday to discuss the increasing likelihood that seniors will need and want to delay retirement. Experts testified that Americans working until older ages will have a dramatic impact on the economy, Social Security, and especially their own personal finances. Here's a look at the reasons the invited witnesses say Americans should choose to work during retirement.Source: Yahoo! News: Business News | 16 Jul 2010 | 11:32 am Benchmark’s Clayton Moran Discusses Google's EarningsSource: Bloomberg - All Podcasts | 16 Jul 2010 | 11:20 am Mixed Picture in Oil Rig Counts (BHI, OIH, USO)With all of the trouble in drilling in the Gulf of Mexico, we wanted to look at the most recent weekly rig count data just released from Baker Hughes Inc. (NYSE: BHI). We are also watching the Oil Services HOLDRs (NYSE: OIH) and the United States Oil (NYSE: USO) as the two key ETFs on [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 11:16 am This Week’s LinksThe Financial Times has a fascinating article on the growing business elite status of American Mormons. Brian Solis on pitching bloggers the right way. Dean Baker busts the lack of confidence myth.
Source: Business Pundit | 16 Jul 2010 | 10:48 am Are We In A Cupcake Bubble?by Jacob Goldstein 
iStockphoto.com
Is this sustainable? I think we're in the middle of a cupcake bubble of historic proportions. I think in a few years, nobody will understand why we didn't see it. "Did they really think cupcakes were different than cake?" the world will ask after the cupcake market implodes. "Why did they wait in those ridiculous lines just to buy cake?" Brownies, meanwhile, aren't getting the respect they deserve. Delicious little chocolatey squares, so much denser than cake! If I were playing the dessert market, I'd have shorted cupcakes and gone long brownies the minute "Sex and the City" went off the air. But if I'd done that, I'd be underwater today: The cupcake movement has only grown, while brownies remain inexplicably overlooked. The latest employment report from New York City only compounds my rhetorical losses. Employment in the restaurant and bar industry is picking up in the city — with particular strength in the cupcake business, according to the WSJ's Metropolis blog. "One segment of the industry that seems to be adding the most outlets is cupcake cafes," says a report quoted by the WSJ. "This could be a fad, or not." I'm pulling for fad, obviously. But bubbles are notoriously difficult to spot — just ask Alan Greenspan. And pessimists like me, forever arguing that the bubble is about to pop, are as likely to be wrong as the optimists arguing that we're on the cusp of a New Cupcake Era, headed for Dow Cupcake 36,000. Spot the Bubble: If not cupcakes, then what? What social bubbles are we in the middle of right now? Source: NPR Blogs: Planet Money | 16 Jul 2010 | 10:45 am FTSE ends sharply lower on poor US data (AFP)
Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 10:31 am When Choosing a Bond Fund, Keep These Factors in Mind (U.S. News & World Report)U.S. News & World Report - With the first half of 2010 in the books, timid investors have shown a clear preference for bond funds over stock funds. Through the end of June, investors have poured about $139 billion into bond funds and just under $3 billion into stock funds, according to Morningstar. Year-to-date, long-term government bond funds are by far the best-performing asset class--returning more than 13 percent.Source: Yahoo! News: Stock Markets News | 16 Jul 2010 | 10:28 am Some Analysts More Amped Than Others About The Goldman Sachs Settlement
Goldman Sachs ‘Victory’ Ushers Change For Wall Street [Bloomberg]
Source: Dealbreaker | 16 Jul 2010 | 10:25 am Why US savers remain the ‘silent majority’The economic playing field has rarely been tilted so sharply against savers and in favour of spenders, writes Spencer JakabSource: Financial Times - US homepage | 16 Jul 2010 | 10:17 am Westin's investors win power over roomsA High Court decision allows owners of suites in The Westin Auckland to seize control of their property from early next month.Justice Paul Heath heard two cases between suite owners in the 3-year-old hotel and Nigel McKenna's...Source: nzherald.co.nz - Business | 16 Jul 2010 | 10:00 am Hubbard says wife shamed at checkoutTroubled South Island financier Allan Hubbard claims his wife, Jean, was unable to buy groceries worth $23 when he was first put into statutory management.Mr Hubbard, 82, who is thought to be worth half a billion dollars and the...Source: nzherald.co.nz - Business | 16 Jul 2010 | 10:00 am Nobilo toasts wine success in ChinaWinemaker Nick Nobilo has scored a big order from a new multi-storey restaurant development in China.Nobilo left school in 1960, at 17, to join the family wine business - a business which became one of the best known brands in...Source: nzherald.co.nz - Business | 16 Jul 2010 | 10:00 am Liam Dann : Complaint about costs shows tables have turnedSo visiting rugby writer Peter Bills says New Zealand is a rip-off.He's got a point. If you're a traveller there are certainly better bargains to be had in countries like Greece, Spain and Portugal. Even the United States...Source: nzherald.co.nz - Business | 16 Jul 2010 | 10:00 am Brian Gaynor : Young and old - a tale of two entrepreneursTwo businessmen at opposite ends of the age cycle, 32-year-old Derek Handley and 82-year-old Allan Hubbard were in the spotlight this week.Handley sold the mobile phone marketing and media company The Hyperfactory to the American...Source: nzherald.co.nz - Business | 16 Jul 2010 | 10:00 am Union alleges 90-day survey could have been 'set up'Unions upset at moves they see as rolling back workers' rights say research by the Labour Department could have been designed to support Government plans to extend the 90 day employment trial period to all businesses.Council of...Source: nzherald.co.nz - Business | 16 Jul 2010 | 10:00 am Student Loans DemystifiedIn order to get a student loan, you need to talk the talk. From the basics of Stafford to PLUS loans, we'll have you sounding like a pro.
Source: SmartMoney.com | 16 Jul 2010 | 9:49 am Bonus Watch ‘10: UBS
Source: Dealbreaker | 16 Jul 2010 | 9:30 am Rethinking Apple Earnings Strategies (AAPL, ADBE, MSFT, GOOG, AMZN, INTC, T, VZ)Apple Inc. (NASDAQ: AAPL) is starting to feel the heat in the aftermath after having become the biggest and best for new hot products along with a cult stock following. Steve Jobs has made the iPad and iPhone a serious issue regarding Adobe Systems Inc. (NASDAQ: ADBE) for not allowing Flash to run on the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 9:28 am Consumer Confidence Collapses As “Recession” ReturnsThe Thomson Reuters/University of Michigan’s consumer sentiment index plummeted to 66.5 from 76.0 in June. That was below market expectations for 74.5, according to the news service. The number is at the lowest point in 11 months The figure is close to the lows reached during the worst part of the recession, and demonstrates that [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 9:11 am Trouble in Oil Spill Clean-Up Shares (BP, CLH, NLC, NR, MOPN)BP plc (NYSE: BP) managed to get a cap on the well disaster in the Gulf of Mexico. Pressure continues to build and it is unknown if that cap is going to hold. But what has been seen into this news over the last 48 hours is a distinct round of profit taking, and some [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 8:43 am Why Does "$" Mean "Dollar," Anyway?by Jacob Goldstein 
STRDEL/AFP
Man and his symbols. That happy guy up there is D. Udaya Kumar. He just won the Indian government's contest to design a symbol for the rupee. (Until now, it's been abbreviated as "Rs.") His design follows the modern standard of basically taking the first letter of the currency's name, and drawing a line through it (think ¥ and €). It has the added benefit of looking not only like "R" but also like "ra," from the Devanagari alphabet used in Hindi, according to the Times of India. We're delighted for Kumar, a young industrial design PhD who seems like a nice guy. But his victory raises a question: What's the logic behind the symbol for our dollar? The short answer: It's not entirely clear. Here's the long answer, courtesy of the U.S. Treasury department:
Redesign the dollar: Got a better idea for what the dollar symbol should be? Send your designs to us at planetmoney@npr.org. We'll post our favorites on the blog. Update: Thanks to the reader who pointed out that Slate posted a story asking the same question (and beat us to it). The story includes some interesting details. For example: "The sign for the British pound, £, evolved from the Latin word libra, meaning scales, since the British pound was originally worth exactly one pound of pure silver." Source: NPR Blogs: Planet Money | 16 Jul 2010 | 8:34 am Honda Going Green with Hybrid-only CivicThere hasn’t been an official announcement yet, but the news is that Honda Motor Co. (NYSE: HMC) will stop building its gasoline-powered Civic for the domestic Japanese market. The company will also stop making its Legend and Elysion models. A new Civic model will roll off the line in the fall of 2011, including a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 8:21 am Commodity ETF Assets Increase to Record, BlackRock Says: AudioSource: Bloomberg - All Podcasts | 16 Jul 2010 | 8:05 am This Week’s Weird Jobs
Yes, taking out braids and killing fawns really will make you money. Why upgrade your skills with jobs like these around? 1. MD: Taking out Braids I didn’t know where to post this so sorry. I know this is stupid. I am a 20 year old guy and I have braided individuals. They are a pain to take out. Last time I did it, it took 3 hours… Can someone help? I know this is probably the dumbest post you’ve ever seen, but if interested, please reply. Wow, this guy really knows how to sell a job. 2. MD: Running Partner I’ll be Rocky Balboa and you’ll be my Mickey. could you not find someone to trap them and relocate? I am not against deer hunting and eating deer, but this is a protected unindangered enviorment to where they are almost tame. Besides, killing of 2 fawns? Come on, there is neither sport nor decency in that. It looks like the original ad was taken down. But killing 2 fawns? Yikes. 4. OR: Do you like to clean? Do you like to clean? See, my last cleaner was a drunk chain smoker who decided it would be a good idea to vacuum the cat and smear feces on the wall. Please don’t be equally dramatic. 4. DC: Need 2 Movers for 3 – 3.5 hours Today 1030 – wearing lime green bookbag Hello. I need 2 movers for 3 to 3.5 hours to help me pack (maybe) and load/unload my one bedroom apartment. Because this move is very unexpected I can only afford $15/hr if the work is done within 3.5 hours. If interested, please come to this location and let me know you’re replying to this ad. I am a young black man wearing a lime green book bag so feel free to approach me. My biggest pieces of furniture include a queen sixe bed, love seat and entertainment center. Thanks. Forget the “I’ll be holding a red rose” of days past, all the cool kids will be sporting a lime green bookbag. Happy Friday!
Source: Business Pundit | 16 Jul 2010 | 8:02 am Foreign Purchase Of US Assets WitherThe U.S. Department of the Treasury released Treasury International Capital (TIC) data for May 2010. From the data: Net foreign purchases of long-term securities were $35.4 billion. * Net foreign purchases of long-term U.S. securities were $33.0 billion. Of this, net purchases by private foreign investors were $23.8 billion, and net purchases by foreign official [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 16 Jul 2010 | 7:31 am Opening Bell: 07.16.10
Citigroup Net Income Falls 38%, Beating Analysts’ Estimates (Bloomberg) Fabulous Fab to File Response to SEC (WSJ) RBS May Seek More After $100 Million Goldman Payout (Reuters) Juncker:No catastrophes from stress tests seen (Reuters) Microsoft Co-Founder to Give Away Half of His Fortune to Philanthropy (NYT) Economists Express More Optimism Than General Public (WSJ)
Source: Dealbreaker | 16 Jul 2010 | 7:30 am Presented By:Source: Dealbreaker | 16 Jul 2010 | 7:30 am Dolin Discusses Fur Trade and U.S. History: Lewis LaphamSource: Bloomberg - All Podcasts | 16 Jul 2010 | 7:04 am Union Still Pays Nonunion Workers To Walk Picket Linesby Jacob Goldstein A carpenters' union in DC wanted to protest outside a building where work was being done without union labor. So the union set up a picket line — walked by many nonunion workers who were hired by the union and paid at minimum wage, the WSJ reports this morning. The article says the recession has made it easier for all sorts of groups to hire protesters. But the practice predates the recession. In fact, the Washington Post had a story in July of 2007 about the very same DC union hiring non-union workers to walk a picket line. "For a lot of our members, it's really difficult to have them come out, either because of parking or something else," a union rep who supervised the picketing told the WSJ. Source: NPR Blogs: Planet Money | 16 Jul 2010 | 7:02 am Westpac's Shugg on CPI, Buik on Financial Reform: First WordSource: Bloomberg - All Podcasts | 16 Jul 2010 | 7:01 am China offers vote of confidence in euroChina has delivered a strong vote of confidence in the euro with Premier Wen Jiabao saying that Europe would always be one of the main investment markets for China’s foreign exchange reserves.Source: Financial Times - US homepage | 16 Jul 2010 | 6:38 am Friday Euphoria?
Source: Business Pundit | 16 Jul 2010 | 4:47 am Your Boss Might Be a Psychopath (By the Numbers)A new study finds that the conscienceless excel in corporations.
Source: SmartMoney.com | 16 Jul 2010 | 3:01 am Bank Earnings May Offer Short Reprieve (Broker Talk)Market watchers on what Q2 results mean after regulatory reform.
Source: SmartMoney.com | 16 Jul 2010 | 3:01 am ETF Report Card: Bullishly Treading Water (On the Street)Bond and commodity funds remain a big draw in a shaky market.
Source: SmartMoney.com | 16 Jul 2010 | 3:01 am The Week in Business Tweets: State of Play (Twitter Beat)The twitterati weigh in on the estate tax, bonus clawbacks and more.
Source: SmartMoney.com | 16 Jul 2010 | 3:01 am
|
