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BP replaces CEO Hayward, makes record loss (AP)
Source: Yahoo! News: Business News | 27 Jul 2010 | 4:13 am Ex-UBS client faces sentencing in Fla. over taxes (AP)AP - A Texas businessman who admitted evading taxes through Swiss bank accounts with UBS AG is hoping to get house arrest and probation for helping investigators find American tax cheats.Source: Yahoo! News: Business News | 27 Jul 2010 | 4:07 am Europe banks seen raising significant capital: surveyLONDON (Reuters) - Almost two-thirds of investors expect Europe's banks to raise significant capital in the next year following a health check that forced little fundraising but showed up some weak spots, according to a survey.
Source: Reuters: Business News | 27 Jul 2010 | 4:04 am Europe banks seen raising significant capital: survey (Reuters)Reuters - Almost two-thirds of investors expect Europe's banks to raise significant capital in the next year following a health check that forced little fundraising but showed up some weak spots, according to a survey.Source: Yahoo! News: Business News | 27 Jul 2010 | 4:04 am Daimler raises earnings outlook after Q2 profit (AP)AP - Car maker Daimler AG say it made a second-quarter profit of euro1.3 billion (nearly $1.7 billion) and has raised its full-year outlook substantially.Source: Yahoo! News: Business News | 27 Jul 2010 | 4:04 am Humans now power Ask.com's engineFor years, Ask.com has basically been roadkill in the search-engine wars. Trailing way behind Google, Yahoo and Microsoft's Bing, it has a market share online data tracker ComScore estimates at just 3.6%.Source: Business and financial news - CNNMoney.com | 27 Jul 2010 | 4:02 am The fear economyFDR said we have nothing to fear but fear itself -- and even though we're a long way from the Great Depression, uncertainty about the economy is proving pretty scary, and a major drag on the recovery.Source: Business and financial news - CNNMoney.com | 27 Jul 2010 | 4:01 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 4:01 am Europe Markets: Financial sector propels Europe stocks to gainsEuropean shares advance, with UBS and Deutsche Bank gaining sharply in the banking sector, while BP edges up after the oil giant announces a new CEO at the same time as it posts a hefty loss.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 3:56 am Upbeat German news lifts European markets (AP)
Source: Yahoo! News: Stock Markets News | 27 Jul 2010 | 3:51 am Indications: Futures rise on strong bank earnings; BP in focusStock futures point to another day of gains on Wall Street, as strong results from European banks including UBS and Deutsche Bank buoy market sentiment.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 3:50 am Toyota pushes back U.S. Prius production by years (Reuters)
Source: Yahoo! News: Business News | 27 Jul 2010 | 3:49 am Toyota pushes back U.S. Prius production by yearsTOKYO (Reuters) - Toyota Motor Corp has pushed back plans to build its Prius in the United States by as much as six years, with a top executive saying U.S. production is likely to start only when the best-selling hybrid is remodeled.
Source: Reuters: Business News | 27 Jul 2010 | 3:49 am Man jailed over £250m Ritz fraudA jobless lorry driver who pulled off an "outrageous scam" to sell London's Ritz Hotel for £250m is jailed for five years.Source: BBC News - Business | 27 Jul 2010 | 3:47 am iPhone 'faces rising challenge' from Android handsetsApple's iPhone will likely dominate the high-end smartphone market in the next five years but faces strong competition from handsets using Google's Android platform, a research firm said...Source: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 3:44 am Futures point to higher open for Wall StreetNEW YORK (Reuters) - Stock index futures pointed to a higher open for Wall Street on Tuesday, the day after U.S. shares broke through key levels.
Source: Reuters: Business News | 27 Jul 2010 | 3:43 am Futures point to higher open for Wall Street (Reuters)
Source: Yahoo! News: Stock Markets News | 27 Jul 2010 | 3:43 am Futures point to higher open for Wall Street (Reuters)
Source: Yahoo! News: Business News | 27 Jul 2010 | 3:43 am State Tax Payments Rise But Several Still Face RuinThe Commerce Department announced an improvement in new home sales for June. The figure seemed impressive compared to May, but it was still the second worst number on record. The National Conference of State Legislatures said tax receipts will be up for the first time in two years. It hardly matters for several states. They [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jul 2010 | 3:38 am UK's Cameron in India on mission to woo old ally (AP)AP - Seeking to win a key ally outside Washington and a booming business partner to spur Britain's fragile economic recovery, David Cameron heads to India on Tuesday to lead his country's most brazen charm offensive in decades.Source: Yahoo! News: Business News | 27 Jul 2010 | 3:35 am BP chief steps down in fallout from Gulf oil spillBP boss Tony Hayward will step down as head of the troubled oil giant, the company said Tuesday, after his heavily criticised handling of the Gulf of Mexico oil spill made him a target of...Source: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 3:30 am BP replaces CEO and posts $17 billion Q2 loss on spillLONDON (Reuters) - BP Plc named American Bob Dudley as its next CEO on Tuesday, saying Tony Hayward would stand down after his gaffe-prone handling of the worst oil spill in U.S. history that triggered a $17 billion quarterly loss.
Source: Reuters: Business News | 27 Jul 2010 | 3:29 am Emerging Markets Report: India's RBI hikes rates to tackle inflationThe Reserve Bank of India raises its policy lending rate by a quarter-point for the fourth time this year in an attempt to control price pressures as the economy expands robustly.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 3:28 am Yahoo Japan to use Google searchYahoo Japan says it will use Google's search engine technology, rather than Microsoft's which is used by partner Yahoo Inc.Source: BBC News - Business | 27 Jul 2010 | 3:24 am Leading Boomers Want to Work, Face High UnemploymentSource: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 3:20 am Short Sellers Move Back Into Banks, TechShort sellers pushed back into banks and other financial firms during the period that ended on July 15. It may be that they sensed earnings would be weak. Or, that the recent financial reform legislation would hamper profits down the road. Concerns remain that write-offs for residential and commercial mortgages will rise. The banking sector, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jul 2010 | 3:17 am State Compensation Insurance Fund Board Names Tom Rowe President and CEOSource: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 3:15 am Bank stocks gain after compromise on capital rulesEuropean banking stocks posted strong gains Tuesday after global regulators agreed to soften some of their new capital and liquidity rules and to phase in the reforms over several years.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 3:10 am UBS posts second-quarter profit of $1.9 billionSwiss bank UBS AG offered evidence of its recovery Tuesday with stronger-than-expected second-quarter profits of 2 billion Swiss francs ($1.9 billion), and said it should resolve all tax...Source: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 3:09 am Danone posts 10 pct gain in 1st half net profitDanone SA said Tuesday sales of its yogurts, bottled water and baby foods would grow faster than expected this year as strong demand in Asia and developing countries helped its first half...Source: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 3:06 am German consumer confidence up stronglyGerman consumer confidence is up strongly, boosted by expectations that a quicker economic recovery will keep unemployment in check and by cheer over the football World Cup and sunny...Source: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 3:02 am Economic Report: Euro-zone sees slow credit growth in JuneEuro-zone banks slowly boost lending to the private sector in June, while money supply rises on an annual basis for the first time in eight months.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 3:02 am UBS and Deutsche Bank results reassure after stress testsZURICH/FRANKFURT (Reuters) - Results from two of Europe's top banks, UBS and Deutsche Bank reassured investors following last week's European Union tests of the sector's ability to withstand financial shocks.
Source: Reuters: Business News | 27 Jul 2010 | 3:01 am UBS and Deutsche Bank results reassure after stress tests (Reuters)Reuters - Results from two of Europe's top banks, UBS and Deutsche Bank (DBKGn.DE) reassured investors following last week's European Union tests of the sector's ability to withstand financial shocks.Source: Yahoo! News: Business News | 27 Jul 2010 | 3:01 am 3 Firms With Surprising Sales and Earnings (Screens)Hough: These companies beat top- and bottom-line forecasts.
Source: SmartMoney.com | 27 Jul 2010 | 3:01 am Unclaimed Cash from Washington Mutual (Deal of the Day)Former customers may be entitled to one last withdrawal of assets.
Source: SmartMoney.com | 27 Jul 2010 | 3:01 am 4 Oil Stocks for a New Energy LandscapeAmid big price swings and a giant oil spill, can investors squeeze out a buck?
Source: SmartMoney.com | 27 Jul 2010 | 3:00 am Target Corp. spending company money on candidates (AP)
Source: Yahoo! News: Business News | 27 Jul 2010 | 2:59 am Yahoo! Japan To Use Google Search TechnologyYahoo! Japan will use the Google Inc (NASDAQ: GOOG) search engine technology. Yahoo! Inc. (NASDAQ:YHOO) has a stake in the Japan operation, but is not the controlling shareholder. The decision is a slap in the face of Microsoft (NASDAQ: MSFT), which is about to become the search technology for Yahoo!, Inc. The Asian company must [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jul 2010 | 2:59 am BP ousts Hayward, taps an AmericanTony Hayward will step down as chief executive of BP, the company announced Tuesday, amid ongoing outrage over the oil spill in the Gulf of Mexico.Source: Business and financial news - CNNMoney.com | 27 Jul 2010 | 2:57 am UPDATE 2-KPN eyes sales growth as Q2 tops forecast* Keeps 2010 EBITDA outlook of 5.5 bln, revenue 13.5 blnSource: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 2:48 am London Markets: British shares higher as banks climbLondon shares advance, with banks gaining ground after better-than-expected profit figures from Continental rivals.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 2:48 am BP replaces CEO Hayward, makes record lossBP's embattled Chief Executive Officer Tony Hayward will be replaced by American Robert Dudley on Oct. 1, the company said Tuesday, as it reported a record quarterly loss and set aside...Source: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 2:39 am Asia stocks mixed ahead of earnings; Europe gainsAsian markets were mixed Tuesday as investors stayed cautious ahead of earnings reports despite positive figures on new U.S. home sales and an upbeat forecast from shipping giant FedEx....Source: RSS feed - channel BNewsBusiness | 27 Jul 2010 | 2:39 am Deutsche Bank's net profit rises 9%; revenue fallsGermany’s Deutsche Bank reports a rise in second-quarter net profit, even as revenue at its investment-banking division declines.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 2:37 am World stocks hit 2-1/2 month peak as euro near high (Reuters)
Source: Yahoo! News: Business News | 27 Jul 2010 | 2:32 am BP reports $17.2 bln loss, appoints Dudley CEOEmbattled U.K. oil giant BP Plc on Tuesday named Robert Dudley as its new chief executive, replacing Tony Hayward, as it reported a $17.2 billion quarterly loss and took $32.2 billion in charges linked to its response to the Gulf of Mexico spill.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 2:29 am UBS profits ahead of expectationsSwiss bank UBS announces profits above market expectations, helped by strong equities and foreign exchange revenues.Source: BBC News - Business | 27 Jul 2010 | 2:17 am Will Hayward’s exit revitalise BP?BP boss Tony Hayward is to leave the company in October, but can his exit change the fortunes of the embattled oil giant?Source: BBC News - Business | 27 Jul 2010 | 2:14 am FTSE 100 continues to make progress above resistance levelThe FTSE 100 was making a fresh attempt to hold gains above the 5,300-point level on Tuesday, helped by sustained demand for banking and financial stocks. News that the Basel Committee, the group...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 2:12 am Data and earnings news ease nervesGlobal Markets Overview: The FTSE All-World index is up 0.3% and the euro is adding to recent rises as investors regain their faith in a solid, if unspectacular, economic recoverySource: Financial Times - US homepage | 27 Jul 2010 | 2:12 am Data and earnings news ease nervesTuesday July 27, 0900 BST: Risk appetite is inching forward as a string of positive economic data and corporate performances helps to restore investors' faith in a solid, if unspectacular, recovery from...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 2:12 am BP chairman on record lossesBP has set aside more than $32bn for the Gulf of Mexico clean-up, and the company plunged 17 billion into the red, but its Chairman insists the company is still in "grand shape"Source: BBC News - Business | 27 Jul 2010 | 2:11 am Media Digest 7.27.2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: UBS (NYSE: UBS) and Deutsche Bank (NYSE: DB) posted good earnings. Reuters: The EU opened antitrust investigations into IBM (NYSE: IBM) Reuters: Ask.com, owned by IACI (NASDAQ: IACI), will use humans to screen results. Reuters: Yahoo! Japan will use the Google Inc (NASDAQ: GOOG) search engine. Reuters: Google In.c has launched a government version [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jul 2010 | 2:01 am UBS shares jump 7% after profit beats expectationsShares in Swiss bank UBS jumped over 7% Tuesday after the firm swung to a second-quarter net profit of 2.01 billion Swiss francs ($1.91 billion), helped by strong equity trading, and said withdrawals in its private banking arm have continued to slow.
Source: MarketWatch.com - Top Stories | 27 Jul 2010 | 2:00 am FTSE 100 climbs in early deals (AFP)
Source: Yahoo! News: Stock Markets News | 27 Jul 2010 | 1:59 am Deutsche Bank confident on continued recoveryThe German bank reports net income of €1.2bn for the second quarter, slightly exceeding expectations after a tough period for the trading it depends onSource: Financial Times - US homepage | 27 Jul 2010 | 1:55 am Federal ruling allows iPhone users to alter software(Reuters) - The U.S. copyright office issued exemptions to a copyright law, giving legal protection for people who unlock their smartphones like Apple Inc's iPhone.
Source: Reuters: Business News | 27 Jul 2010 | 1:44 am BP plans $30bn assets saleOil major plans to sell assets worth $30bn to meet the costs of its massive oil spill in the Gulf of Mexico and confirms the departure of Tony Hayward, chief executive, as it reports a $17bn loss in its second quarterSource: Financial Times - US homepage | 27 Jul 2010 | 1:35 am Mulally motors onFord's chief says its market share is up and growth has returnedSource: BBC News - Business | 27 Jul 2010 | 1:33 am BP plc Shares Up 5% On Loss And Dudley CEO AppointmentBP plc (NYSE: BP) shares gained as the company reported a loss for last quarter and appointed Bob Dudley as CEO. The UK-based firm reported a $17.2 billion loss and took $32.2 billion in charges linked to its costs from the Gulf of Mexico spill.The loss compared to a profit of $4.39 billion earned in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Jul 2010 | 1:31 am BP puts oil spill cost at $32.2bnBP says it is setting aside $32.2bn (£20.8bn) to cover the oil spill clean-up costs, as it posts record losses of $17bn.Source: BBC News - Business | 27 Jul 2010 | 1:31 am BP quarterly loss: large corporate lossesBP, the oil giant, has reported losses of £11bn for the second quarter of the year - one of the largest corporate losses ever recorded. Here are some of the others.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jul 2010 | 1:30 am BP quarterly loss: key pointsBP, the oil giant, has reported massive losses for the second quarter of the year. Here are the key points from Tuesday's results statement.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jul 2010 | 1:28 am Yahoo Japan to switch to Google's search engineTOKYO (Reuters) - Yahoo Japan, Japan's largest Internet portal operator, said on Tuesday it will adopt Google's search engine instead of teaming up with Microsoft like partner Yahoo Inc.
Source: Reuters: Business News | 27 Jul 2010 | 1:27 am BP oil spill: Tony Hayward replaced by Bob Dudley as oil giant slumps to record lossTony Hayward has resigned as boss of the energy giant as it announced a record $17bn loss on the Gulf of Mexico oil spill.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jul 2010 | 1:21 am Business Bullet: Asia, BP, Oil, ConnaughtThe latest news on: Asia, BP, Oil, ConnaughtSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jul 2010 | 1:04 am Wind farm 'mega-project' underway in Mojave DesertThe Alta Wind Energy Center — with plans for thousands of acres of turbines to generate electricity for 600,000 Southern California homes — officially breaks ground Tuesday.It's being called the largest wind power project in the country, with plans for thousands of acres of towering turbines in the Mojave Desert foothills generating electricity for 600,000 homes in Southern California.
Source: L.A. Times - Business | 27 Jul 2010 | 1:00 am Google: Good enough for government workThe tech firm wins a key federal security clearance and introduces new applications for government customers. ...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am Wind farm 'mega-project' underway in Mojave DesertThe Alta Wind Energy Center — with plans for thousands of acres of turbines to generate electricity for 600,000 Southern California homes — officially breaks ground Tuesday. ...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am Anthem Blue Cross of California names Pam Kehaly presidentThe veteran insurance industry executive replaces Leslie Margolin, who resigned last week. Health insurance giant...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am Tribune Co. buyout marred by 'dishonesty,' examiner findsThe report probably will further muddy a complex and long-running Chapter 11 bankruptcy case. The court-appointed...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am Leftovers for the needy: It's not that hardWhy not set up a clearinghouse that connects restaurants and caterers that have meals to donate with groups that can distribute it?It never ceases to amaze me how difficult it can be to get some businesses to do the right thing. Donating leftover food is a good example.
Source: L.A. Times - Business | 27 Jul 2010 | 1:00 am Data suggest the super-rich are opening wallets wider at theme parksThe parks themselves are moving ahead with new offerings aimed at the upper crust.The economy could be teetering on the edge of a double-dip recession, and theme parks are still tossing discounts at reluctant travelers. But there are encouraging signs from at least one small segment of consumers: the super-rich.
Source: L.A. Times - Business | 27 Jul 2010 | 1:00 am New home sales bounce back in JuneThe number of newly built houses purchased nationwide jumps 23.6% from May but is 16.7% below the June 2009 level. Sales dropped 6.6% in the West but were up in the three other regions.Sales of newly built houses in the U.S. rebounded overall in June from May's record low but still continued to drop in the West.
Source: L.A. Times - Business | 27 Jul 2010 | 1:00 am Business travel groups bristle at Obama's anti-pollution ideaAlso: Tarmac-delay fines may hurt passengers overall, and don't rely on modesty shields in full-body scanners. ...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am New home sales bounce back in JuneThe number of newly built houses purchased nationwide jumps 23.6% from May but is 16.7% below the June 2009 level. Sales dropped 6.6% in the West but were up in the three other regions. ...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am Data suggest the super-rich are opening wallets wider at theme parksThe parks themselves are moving ahead with new offerings aimed at the upper crust. The economy could be teetering...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am Anthem Blue Cross of California names Pam Kehaly presidentThe veteran insurance industry executive replaces Leslie Margolin, who resigned last week.Health insurance giant Anthem Blue Cross of California announced the hiring of a former Aetna executive as its new president and general manager.
Source: L.A. Times - Business | 27 Jul 2010 | 1:00 am Univision settles U.S. radio payola caseThe Spanish-language media giant, whose Latin music executives were accused of bribing station managers to get songs more time on the air, agrees to pay $1 million in penalties.A three-year criminal investigation into a pay-for-play scandal at Univision Communications — in which Latin-music executives bribed radio station managers with briefcases stuffed with cash — ended Monday when Univision agreed to pay $1 million in penalties to federal authorities.
Source: L.A. Times - Business | 27 Jul 2010 | 1:00 am Many businesses want to expand but lack resources, study findsThe inability of business owners to get loans inhibits growth and hiring, a Pepperdine University professor says after surveying 559 businesses and 1,430 lenders and investors. ...Source: RSS feed - channel BNPaperBusiness | 27 Jul 2010 | 1:00 am Staff ill at Indian Foxconn plantThe iPhone manufacturer Foxconn temporarily shuts a factory in India after some 250 workers fall sick.Source: BBC News - Business | 27 Jul 2010 | 12:46 am Deutsche Bank sees profits riseDeutsche Bank reports a rise in second-quarter net profit of 1.2bn euros, helped by lower provisions for bad loans.Source: BBC News - Business | 27 Jul 2010 | 12:44 am UBS lifted by investment bankingThe Swiss bank reports second-quarter profit of SFr2bn, pulling ahead of its domestic rival Credit Suisse thanks to resilient earnings in investment banking and a robust private banking performanceSource: Financial Times - US homepage | 27 Jul 2010 | 12:34 am Building the Olympic parkJames Pearce reports on the construction of the Olympic park in StratfordSource: BBC News - Business | 27 Jul 2010 | 12:34 am India raises rates by more than expectedThe second rise in a month comes in the face of double-digit inflation and a strengthening domestic economy as India unwinds an ultra-loose monetary policy adopted to weather the global financial crisisSource: Financial Times - US homepage | 27 Jul 2010 | 12:34 am Tony Hayward's BP statementBelow is a copy of a statement issued by outgoing BP chief executive Tony Hayward to accompany the firm's second quarter results.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jul 2010 | 12:31 am BP confirms that Tony Hayward will step downTony Hayward - much criticised for his handling of the Gulf of Mexico oil spill - will walk away with the severance package even if he quits BP.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jul 2010 | 12:26 am Dollar hovers below six month US highThe New Zealand dollar eased a touch from its earlier six-month high against the greenback around US73.50c, in quiet trading after an upbeat session overnight.By 5pm, the kiwi was at US73.41c, compared with US72.74c late yesterday...Source: nzherald.co.nz - Business | 27 Jul 2010 | 12:22 am Telecom leads NZ stocks downThe New Zealand sharemarket shed some of yesterday's gains, despite rises in markets around the world.The benchmark NZX-50 index lost 12.76 points to close at 3008.43, after yesterday's gain of 26 points.Depressing the market...Source: nzherald.co.nz - Business | 27 Jul 2010 | 12:20 am BP replaces Tony Hayward as it slumps to a record lossBP appoints its first ever American chief executive, as the cost of the Gulf of Mexico oil spill drove the company to a £11bn loss.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jul 2010 | 12:20 am BP boss Tony Hayward's pension could reach £11mTony Hayward - much criticised for his handling of the Gulf of Mexico oil spill - will walk away with the severance package even if he quits BP.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jul 2010 | 11:55 pm Dow gains 100 pointsStocks rallied Monday after FedEx's improved forecast and a better-than-expected housing market report tempered worries about the economic outlook.Source: Business and financial news - CNNMoney.com | 26 Jul 2010 | 11:55 pm States face another $12B budget holeStates filled an $84 billion gap to balance their 2011 fiscal year budgets, which took effect earlier this month. But they could collectively face a new $12 billion hole if Congress fails to help cover growing Medicaid costs.Source: Business and financial news - CNNMoney.com | 26 Jul 2010 | 11:54 pm Steve Jobs' mark on 'Lost'How the Apple CEO may have changed the course of the hit ABC show with one comment back in 2005.Source: Business and financial news - CNNMoney.com | 26 Jul 2010 | 11:44 pm Cash machine warningATM network Link said it obtained video footage showing how criminals get PINs.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jul 2010 | 11:44 pm Examiner finds evidence of "dishonesty" in Tribune sale(Reuters) - The court-appointed examiner investigating Tribune Co's bankruptcy said he has found some evidence of dishonesty in the 2007 leveraged buyout of the company, court documents showed.
Source: Reuters: Business News | 26 Jul 2010 | 11:18 pm BP spill: it will take more than a US passport for Bob Dudley to rebuild BP in AmericaTony Hayward was given to Churchillian quotes when leading BP's response to the Gulf of Mexico oil spill.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 26 Jul 2010 | 11:05 pm EU opens anti-trust probe of IBM mainframe businessBRUSSELS (Reuters) - European Union competition regulators launched two anti-trust investigations against International Business Machines Corp, suspecting it of abusing its dominant position in the mainframe computer market.
Source: Reuters: Business News | 26 Jul 2010 | 10:58 pm "Glimmers of improvement," but state woes remainWASHINGTON (Reuters) - State tax revenue is improving, but only slightly, and may not be enough to end steep spending cuts or replace the loss of assistance from the federal stimulus plan that expires in December, according to a report on Tuesday.
Source: Reuters: Business News | 26 Jul 2010 | 10:22 pm US recovery elusive amid fiscal gapsMost US states are expecting to see tax revenues rise after a freefall from the recession, but a recovery remains uncertain in the face of budget deficits and the end of federal stimulus fundsSource: Financial Times - US homepage | 26 Jul 2010 | 10:01 pm Brussels to probe IBM mainframe market roleThe US technology group is the latest company to come under attack from Europe’s top antitrust watchdog, which is opening two separate cases against itSource: Financial Times - US homepage | 26 Jul 2010 | 8:35 pm EU launches antitrust probe against IBM
Source: L.A. Times - Business | 26 Jul 2010 | 8:22 pm Super City won't delay leaky home payoutsAucklanders have been assured the formation of the supercity will not further delay compensation for leaky homes.The Building and Construction Minister has given the promise to rural and provincial local government representatives...Source: nzherald.co.nz - Business | 26 Jul 2010 | 8:20 pm Hulu's sharp decline in viewership underscores inconsistency in measuring size of online audienceContradictory data from competing measurement firms make it hard for advertisers to determine which websites should get their business.Hulu has been hailed as the future of television, but its reputation has been based in part on measurement techniques rooted in the past.
Source: L.A. Times - Business | 26 Jul 2010 | 8:14 pm BP appears destined to get its first American CEORobert W. Dudley is expected to replace Tony Hayward as head of the British firm. He faces a big task — rescuing the company from its oil spill crisis and fallout — but some analysts say he's up to it.The man widely expected to take the helm of oil giant BP as early as Tuesday would be the first American to become chief executive of the 101-year-old British company.
Source: L.A. Times - Business | 26 Jul 2010 | 8:07 pm When Labeling Requirements Backfire
Source: Business Pundit | 26 Jul 2010 | 7:47 pm May Wang owes company $2.5m, court toldTroubled businesswoman May Wang was said to owe Latitude Asia more than $2.5 million, a court heard this morning.The company is supporting Westpac's application to bankrupt Wang and is rejecting a offer that would give creditors...Source: nzherald.co.nz - Business | 26 Jul 2010 | 7:30 pm The Oil Spill: This Genie Won’t Go Back Into the BottleThe BP plc problem will not go away any more than the global sovereign debt one will. Gulf storms are the least of the UK oil company’s problems Read more… Filed under: Oil & Gas Tagged: BP[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jul 2010 | 7:11 pm Can New BP CEO Bob Dudley Fix BP?By Tom Bower, The Daily Beast Tony Hayward sunk himself with his media gaffes and poor political performances. Can Bob Dudley do better? Read more at The Daily Beast… Filed under: Oil & Gas Tagged: BP[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jul 2010 | 7:07 pm Strategic Finance trustee calls in the liquidatorsStrategic Finance's trustee has appointed liquidators to the failed property lender, noting they will have wider powers than receivers PricewaterhouseCoopers to scrutinise and investigate the company's deals.Perpetual Trust yesterday...Source: nzherald.co.nz - Business | 26 Jul 2010 | 7:00 pm Oracle’s Ellison Top Paid CEO Of Decade With $1.84 BillionLarry Ellison, founder and CEO of Oracle (NASDAQ: ORCL) probably deserves a huge pay package as much as anyone else. His company has become wildly successful and has been a steady producer of strong earnings since becoming the world’s largest enterprise software firm. Oracle continues to best rivals SAP (NYSE: SAP) and Microsoft (NASDAQ: MSFT) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jul 2010 | 6:59 pm Overseas investment review delayed againRelease of the long running review of the Overseas Investment Act has been delayed again as the Government grapples with the prospect of cashed up offshore investors swooping on debt-laden kiwi farms such as the Crafar dairy empire.According...Source: nzherald.co.nz - Business | 26 Jul 2010 | 6:30 pm Bernard Hickey - Reserve Bank should target the housing bubbleNow that the world has avoided going over the financial cliff, at least for now, the powers-that-be are doing a post-mortem of what went wrong.The International Monetary Fund (IMF) has just produced a 42 page paper titled "Big shake-up expected at property trustInvestor activism has set the scene for a radical shake-up of the $191.2 million National Property Trust on Friday.Institutional investors and the wealthy Cushing family of Hawkes Bay have called for an overhaul of the trust's...Source: nzherald.co.nz - Business | 26 Jul 2010 | 6:00 pm NZ dollar jumps to six-month highThe New Zealand dollar climbed to a six-month high as a surge in new home sales in the US stoked investors' appetite for higher-yielding, or riskier, assets.American new home sales jumped 24 per cent last month, taking the inventory...Source: nzherald.co.nz - Business | 26 Jul 2010 | 5:40 pm UK bookies flee the countryTo look at their results from the World Cup you'd think all was rosy in the bookmakers' garden. That would be a mistaken impression. Yesterday, William Hill announced the migration of its telephone betting business to Gibraltar. The...Source: nzherald.co.nz - Business | 26 Jul 2010 | 5:30 pm Jailbreaking iPhone apps is now legalIPhone users can now legally hack their phones to download applications that aren't in Apple's App Store.Source: Business and financial news - CNNMoney.com | 26 Jul 2010 | 5:14 pm Bank regulators reach deal on liquidityAll but one of the 27 member countries has signed on to the new principles, which limit what banks can count as so-called tier one capitalSource: Financial Times - US homepage | 26 Jul 2010 | 4:45 pm Write-Offs: 07.26.10
$$$ Elizabeth Warren Would Be Bane Of Banks [NYT] $$$ This is happening: “Cast Members Angelina, Jenni “J-Woww,” Mike “The Situation,” Nicole “Snooki,” DJ Pauly D, Ronnie, Sammi “Sweetheart” and Vinny Ring The Opening Bell on July 27” [NYSE via Heidi Moore] $$$ Basel Committee Overseers Reach `Broad‘ Agreement on Bank Rules [Bloomberg] $$$ Bear Takes A Ride, Tears Up Car [Reuters]
 Source: Dealbreaker | 26 Jul 2010 | 4:20 pm Leaked files raise fresh doubts on warAccusations that Pakistan backed militants in Afghanistan while accepting US aid provoke fresh controversy in Washington over US strategy in the conflictSource: Financial Times - US homepage | 26 Jul 2010 | 4:11 pm Dow Back In Black for Year (Market Update)Stocks advanced broadly Monday on light trading as encouraging economic and corporate...
Source: SmartMoney.com | 26 Jul 2010 | 4:03 pm The President's Revisionist Market History (Tradecraft)Hoenig: The Muckraker-in-Chief plays loose with the facts.
Source: SmartMoney.com | 26 Jul 2010 | 3:59 pm Good news gives Dow 3rd straight triple digit gain (AP)
Source: Yahoo! News: Stock Markets News | 26 Jul 2010 | 3:55 pm To PayPal or Not to PayPal?
This is a guest post by TransFS’s Stella Fayman. PayPal Pros 1. Pricing PayPal uses straightforward flat-rate pricing which makes it better than many merchants which use tiered or ERR pricing (huge rip-offs) but not better than merchant accounts that also have flat rate pricing or interchange plus pricing. 2. Cost For many businesses starting out, PayPal may be the cost effective payment processing option. However, once volume gets higher, it becomes more cost effective to switch to a traditional merchant account provider. Use the PayPal Upgrade Calculator to quickly see whether it’s time to consider a merchant account. Learn more about switching to merchant accounts here. 3. Recognition PayPal is universally recognized and can therefore reduce customers’ fears of fraud. PayPal Cons 1. Poor Customer Service PayPal has been known to be unresponsive and downright evasive when it comes to customer service. Good luck trying to find a customer service phone number on their site. (We found it on this site.) 2. Customization PayPal has standard options that don’t have many of the features of a traditional gateway. For example, some gateways have APIs with more specialized capabilities like tokenization and/or the ability to qualify for industry specific interchange categories. 3. Rules When you play with PayPal, you play by their rules. They can freeze your account, withhold funds, or take money out of your account for no reason. Also, funds are deposited into your PayPal account instead of a personal bank account which you control. In conclusion, sometimes PayPal may not be the best choice to meet your payment processing needs. Doing a careful analysis and researching alternatives may save you money in the long run. If you have any questions, please don’t hesitate to reach out to me at Stella (AT) TransFS (DOT) com TransFS.com is the comparison shopping site for credit card processors. Just like getting multiple quotes for airfare using Expedia, TransFS lets business owners compare top quality processors on an apples-to-apples basis and makes sure they get the best deal by not having any cancellation or hidden fees, and only interchange plus pricing.
Source: Business Pundit | 26 Jul 2010 | 3:30 pm Top After-Hours Movers (SWKS, IDTI, LM, MSPD, PLT, RMBS, SANM, UCTT, VECO, ZRAN)We have many after-hours stocks on the move. Most are on earnings but some are on other issues. The stocks on the move are Skyworks Solutions, Inc. (NASDAQ: SWKS), Integrated Device Technology, Inc. (NASDAQ: IDTI), Legg Mason, Inc. (NYSE: LM), Mindspeed Technologies, Inc. (NASDAQ: MSPD), Plantronics, Inc. (NYSE: PLT), Rambus Inc. (NASDAQ: RMBS), Sanmina-SCI Corporation [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jul 2010 | 3:24 pm Democrats' 'manufactured' agendaThere aren't a lot of encouraging signs for the manufacturing industry these days as the economic recovery struggles to gain traction. So unemployed factory workers could be forgiven for getting their hopes up last week when House Democrats rallied around their new "Make it in America" agenda.Source: Business and financial news - CNNMoney.com | 26 Jul 2010 | 3:19 pm How the major stock indexes fared on Monday (AP)AP - The Dow Jones industrial average gained more than 100 points for the third straight day Monday after investors got some unexpected good news about the economy.Source: Yahoo! News: Stock Markets News | 26 Jul 2010 | 3:09 pm Jules Kroll on Financial Regulation: Taking StockSource: Bloomberg - All Podcasts | 26 Jul 2010 | 3:00 pm Presented By:Source: Dealbreaker | 26 Jul 2010 | 3:00 pm Ex-Trader Accused Of Fraud Hoping To Clear Name Via Reality TV Show
Mandell figures the best way to get the word out re: what he’s about (family, karate, non-alcoholic beer) and not about (fraud) in a (yet to be picked up) reality TV show called “Facing Time.” “This is about facing the public, clearing my name and the legacy of my wife and children,” the budding Snooki told Reuters. “People think that I’m a beast, that I’m an animal,” he added. “I’m a loving human being, I’m a sober man, I’m God-fearing and a member of Alcoholics Anonymous.” His wife, lawyer and trainer all agree.
Source: Dealbreaker | 26 Jul 2010 | 3:00 pm JetBlue CEO sees benefit in big-airline mergersDave Barger thinks the carrier will gain customers because of the service lapses that tend to accompany colossal tie-ups in the industry.JetBlue Airways Corp. is the kind of well-run niche airline that is supposed to get wiped out by the deal-making frenzy involving large network carriers such as United Airlines and Continental Airlines Inc.
Source: L.A. Times - Business | 26 Jul 2010 | 2:52 pm Jan Van Eck Discusses Currency Bond Fund ETF: Taking StockSource: Bloomberg - All Podcasts | 26 Jul 2010 | 2:42 pm Lowry's Knudsen Discusses Equities: Taking StockSource: Bloomberg - All Podcasts | 26 Jul 2010 | 2:19 pm Jefferies Mushkin on Lance, Snyder's Merger: Taking StockSource: Bloomberg - All Podcasts | 26 Jul 2010 | 2:05 pm Two Key IPOs On Deck: Chesapeake & Molycorp (CHKM, MCP, CHK)There are two tentative IPOs on deck this week we are watching closely. Both are currently indicated for pricing on Wednesday evening and Thursday trading. The first, in alphabetical order, will come from Chesapeake Midstream Partners (NYSE: CHKM), with ties to Chesapeake Energy Corporation (NYSE: CHK). The second stand-out IPO on deck Molycorp Inc. (NYSE: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 26 Jul 2010 | 1:52 pm CK Cooper's Hamilton Discusses Boeing, Airlines: Taking StockSource: Bloomberg - All Podcasts | 26 Jul 2010 | 1:37 pm Apolo Ohno on BMW-USOC Partnership: First Word SpecialSource: Bloomberg - All Podcasts | 26 Jul 2010 | 1:27 pm Get a job, or go to grad school?Dear Annie: I hope you can settle an argument. My parents are saying that with my college major (English), it will probably be hard for me to find a job when I graduate next spring. They want me to go straight to grad school and get a master's degree, which they say will make me more "marketable". (They are willing to foot the bill, which I do appreciate.)Source: Business and financial news - CNNMoney.com | 26 Jul 2010 | 1:26 pm Almatis, Tribune, Rangers: Bloomberg Bankruptcy ReviewSource: Bloomberg - All Podcasts | 26 Jul 2010 | 1:19 pm Why Your Manager Is Putting Investor Capital At Serious Risk With A Sub-Par Pantry
I’m talking, of course, about the hungry trader. Most outsiders and investing neophytes assume in-depth research and a top-notch ability to get information first is the key to the tri-state area’s most successful hedge funds but, really, high-fructose corn syrup and salt are the engine that drives these firms’ returns and the reason keeping their pantries fully loaded is priority numero uno. And now we’ve got science backing us up.
It’s not enough, of course, to just have snacks on hand. Not going to name names but one well-known hedge fund experienced unprecedented failure, relative to its historical returns, around the same time it introduced items like “Soy Chips” to the mix, which have the opposite effect of offering the eater clear-headedness but rather inspire suicidal thoughts through every bite. So it’s gotta be the good stuff and if you want to be the guy who makes sure this is a priority, the next time you find yourself with only an array of shitty options in the pantry or caf, you grab the most offensive, walk yourself over to the Big Kahuna’s desk, chew it up and spit it out (ideally in his hand but face works, too) and ask, “You call this a snack?” He’ll get the picture.
Source: Dealbreaker | 26 Jul 2010 | 1:10 pm Are Today's Tax Cuts Tomorrow's Tax Increases?by Jacob Goldstein Next up on Washington's list of Economic Things to Fight Over: the Bush tax cuts. The cuts were passed as temporary measures in 2001 and 2003, and they're set to expire at the end of this year. Congress is trying to figure out what to do. What's the fight over? Republicans and Dems agree that the cuts should largely remain in place next year for most people. But the Obama administration and many Congressional Dems want to allow the cuts to expire for families making more than $250,000 a year. That could raise nearly $500 billion over the next 10 years, according to one estimate. Republicans, and some Congressional Dems, want to extend the tax cuts for the wealthy as well. The FT quotes Kent Conrad, a Senate Democrat: "The general rule of thumb would be you’d not want to do tax changes, tax increases . . . until the recovery is on more solid ground." What are the details? This being tax policy, the details get very wonky very quickly. Among other things, the top income tax rate for high earners would increase from 35 percent to 36.9 percent, and capital gains taxes would rise from 15 percent to 20 percent for many people. The Tax Foundation explains a lot more here. If you really want to know what the whole thing means for you, you can plug your data into this rather complex tax calculator, which will tell you what your taxes would be under various circumstances. Are they really tax cuts? People have definitely paid lower taxes in recent years because of the changes to the tax law. But Barry Ritholtz argues that because the changes were accompanied by bigger government deficits, they weren't truly tax cuts — they just shifted the tax burden from the present to the future, when those deficits will have to be paid back. "In other words, all unfunded tax cuts — including these — are actually future tax increases on the next generation," he writes. Source: NPR Blogs: Planet Money | 26 Jul 2010 | 12:34 pm Bonus Watch ‘10: Barclays Capital
From the mail bag: BarCap top bucket 1st year IBD analysts: 50k (Second bucket: 45k. Don’t know about 3rd or anyone admitting to be 3rd tier). I think the general consensus is that the number (50) was just a bit below expectations (I mean, no one likes to lose to UBS), but I don’t think anyone is complaining too loudly.
Source: Dealbreaker | 26 Jul 2010 | 12:33 pm IBM subject of European antitrust probeThe European Union has launched an antitrust investigation into whether IBM has abused its dominant position in the mainframe computer market.Source: Business and financial news - CNNMoney.com | 26 Jul 2010 | 11:57 am Frank Aquila Discusses Corporate Governance: BLAWSource: Bloomberg - All Podcasts | 26 Jul 2010 | 11:52 am Road Warriors: Edward WebbEdward Webb, a corporate restructuring consultant, shares the song he listens to to reminds him of the human condition.Source: Marketplace | 26 Jul 2010 | 11:49 am Records, tapes, CDs, MP3s -- now clouds?Kai Ryssdal talks to USC Professor Josh Kun about the latest way to get and store music -- computing clouds.Source: Marketplace | 26 Jul 2010 | 11:49 am Jailbreaking legal, says Library of CongressThe Library of Congress' Copyright Office ruled that "jailbreaking" -- the act of breaking through copyright controls on phones to use your own apps -- is legal. But what does this mean for phone users and service providers?Source: Marketplace | 26 Jul 2010 | 11:49 am Data mining pushes marketing to a new levelEvery time you swipe one a rewards card at a store, that data goes somewhere to get analyzed. Marketplace's Stacey Vanek-Smith takes a look at the multi-billion dollar data mining industry -- how it has evolved and where it will go.Source: Marketplace | 26 Jul 2010 | 11:49 am Chinese banks face state loans turmoilChina’s banks are facing serious default risks on more than one-fifth of the Rmb7,700bn they have lent to local governments across the country, senior Chinese officials saySource: Financial Times - US homepage | 26 Jul 2010 | 11:49 am New media WikiLeaks uses traditional media for its 'Afghan War Diary'Wikileaks released a trove of over 90,000 reports on the Afghanistan war to the public on Sunday -- but they first let "traditional" reporters from the New York Times, Der Spiegel and the Guardian take a look at them. Why?Source: Marketplace | 26 Jul 2010 | 11:49 am Congressional showdown over taxes this fallTaxes will be the issue du jour for Congress this fall -- in an election year. Bush Administration-era tax cuts are set to expire, but what kinds of tax cuts and hikes will Congress pass and how will it affect the economy?Source: Marketplace | 26 Jul 2010 | 11:49 am Housing sales jumped in June, but does it really matter?Marketplace's Amy Scott looks into whether the 24 percent boost in new home sales last month really means anything for the a shrunken housing market and the economy.Source: Marketplace | 26 Jul 2010 | 11:48 am American may take BP helmIt's rumored that Robert Dudley, a BP board member and part of the executive management team, will take over the CEO spot. He's an American, from the Gulf Coast even, but will that make a difference?Source: Marketplace | 26 Jul 2010 | 11:48 am Two Dudes Prove Why It’s Best To Argue CFA v. MBA Anonymously Online And Not In Person At Your Favorite Burrito Joint
Source: Dealbreaker | 26 Jul 2010 | 11:48 am Gheit Says Appointing Dudley as BP CEO Would Make Sense: AudioSource: Bloomberg - All Podcasts | 26 Jul 2010 | 11:38 am SEC says Goldman to remain eligible issuer (Reuters)Reuters - The U.S. Securities and Exchange Commission said Goldman Sachs Group Inc will be allowed to continue to issue securities after settling civil fraud charges earlier this month, according to a letter posted to its website on Monday.Source: Yahoo! News: Stock Markets News | 26 Jul 2010 | 11:37 am Kerry Discusses Climate Legislation: Political CapitalSource: Bloomberg - All Podcasts | 26 Jul 2010 | 11:34 am A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Monday:Source: Yahoo! News: Stock Markets News | 26 Jul 2010 | 11:14 am FTSE up on US homes data, 'stress tests' (AFP)
Source: Yahoo! News: Stock Markets News | 26 Jul 2010 | 10:40 am Area Man Wants 2008 Bonuses Returned
 Vote for Pedro Last Friday, outgoing Compensation Kitty-Cat Kenneth Feinberg made his “huge” announcement re: the bonuses paid out to bank executives for their bang-up jobs during the 2008 calendar year. Although some (mythical) people were supposedly quaking in their boots over what Feinberg was going to do to them, his announcement amounted to saying he’d crunched the numbers and while they weren’t so great and maybe should’ve been smaller in light of what was going on at the time, even he couldn’t get it up to care anymore. For the most part, he’s not alone. Today, though, we have found one guy, who actually gives a rat’s ass. I’m kidding, he’s just doing it to get reelected but still: even the fact that he’s feigning making a stink about all this.
Source: Dealbreaker | 26 Jul 2010 | 10:35 am Will Martin Coward Start A New Hedge Fund With His New Gal-Pal?
 No more Mr. Nice Guy/wife/partner First, the back story: Martin Coward and Elena Ambrosiadou, currently in the process of getting divorced, were once partners in business and in marriage. They met at Cambridge, fell in love, and founded hedge fund group Ikos in 1992. Math nerd-cum-ladies man Coward was “the brains” behind the investment strategy and research, while Ambrosiadou, who holds a master’s degree in business, was named chief executive, ran operations and “was a key driver of growth.” In the beginning, things went prettay prettay prettay well.
Then things started to get tense when the two began disagreeing over how to run the firm, turf, and probably whose turn it was to take out the trash. Coward was having a lot of “me time” with one person “who knows them” noting that Marty, a licensed pilot with a penchant for windsurfing, “frequently went on vacation.” While he was on one of his vacays (this one was skiing the Alps), Ambro made the executive decision to fire one of her husband’s London-based research teams without letting him know first. And Coward did not like that!  Maybe her friend will want to work for him too? He decided, rather to roll over and take it, to leave the firm, which has allegedly resulted in investors threatening to leave as well. Will these two kids at least be able to work it out on the homefront? Last month Elana had the keys to a private jet he was flying confiscated (with a trip to the police thrown in for good measure as Marty was not in a cooperative mood), resulting in him having to take a commercial flight back to France from Greece. So a reconciliation may not be in the cards but we still do have some good and potentially good news! The first is that Coward bought a new plane, which is being delivered A-SAP (a Cessna Citation Mustang). The second is that he may not only have a new special lady friend but a partner too! Martin has apparently been spending some quality time with “a beautiful Brazilian girl, called Leiana” (seen at left, no last name). And as he is currently unemployed and probably looking to get back in the game and has a track record of shitting where he eats, this seems perfect! Granted, Leiana may not have the same pedigree as the first wife/CEO but she makes up for it in high melanin levels.
Just something to think about. Alternatively they could screw the new business and just play a few rounds of CEO and Secretary Ho. But I think making her a PM would be more fun.
Source: Dealbreaker | 26 Jul 2010 | 9:59 am Presented By:Source: Dealbreaker | 26 Jul 2010 | 9:59 am Oil prices slip despite storm fears easing (AFP)
Source: Yahoo! News: Stock Markets News | 26 Jul 2010 | 9:38 am Patterson Calls Off Tax On Non-Resident Hedge-Fund Managers– WHAT WILL JODI RELL DO NOW?
NOOOOOOO! Do you hear that? That’s the sound of a woman freaking the fuck out in Southern Connecticut. Sure, nothing was set in stone but she’s already made the seating arrangements– Patterson can’t do this! Alright, don’t freak out. Just everybody calm down, this can be salvaged, so long as everybody thinks. Think god damn, it, think. How can Rell make this dinner work in her favor, now that she and her guests actually don’t have anything to talk about at all? We suggested last week that CT’s most infamous hedge fund managers make an appearance on the wait staff and while passing out various courses, help the governor make her case. Now more than ever, that seems like the right idea, as does tricks with Maraschino cherries and some well-time thigh rubbing under the table.
Source: Dealbreaker | 26 Jul 2010 | 9:30 am 2011 Ford Explorer Designed for Wider Market Appeal
Ford unveiled its 2011 Ford Explorer this morning. The new Explorer is built on a car frame and is more of a crossover than an SUV. The WSJ’s Jonathan Welsh examines what the redesign means: Company officials say the new Explorer reflects CEO Alan Mulally’s philosophy of developing a broader range of vehicles that can be tailored closely to what customers want. In some ways the Explorer also seeks to appeal to a wider audience than ever before. In the early 1990s the then-brand-new Explorer defined the mid-size SUV category. The Explorer…had a rugged outdoorsy image, but was just soft and friendly enough to attract a wide range of baby-boomers who wanted to at least look adventurous even if they never drove off-road. The new vehicle casts an even wider net. It can still tow a 5,000-pound trailer, but its looks and mechanical underpinnings are more car-like — designed for a smooth, quiet ride. The 2011 Ford explorer will cost $28,995, $1,000 less than the 2010 model, according to the Detroit Free Press. The redesign is the first time that Ford has veered from the traditional Explorer SUV, one of its best-known brands. I think the mainstream SUV era (you know, those years when everyone clogged freeways with their 20 mpg, off-road capable vehicles that they never drove outside of town) has been over for a few years. The redesign of the Ford Explorer, perhaps the most emblematic SUV of the era, put the final nail in the coffin. Ford isn’t trying anything new here. It’s just re-imagining a brand and creating yet another crossover for people to drive. Ford will probably tout the fuel efficiency of its new, car-like Explorer. Expect to see the company promote the 2011 Explorer heavily on Facebook–starting with a free 2011 Ford Explorer giveaway.
Source: Business Pundit | 26 Jul 2010 | 9:24 am Ponzi Nation: Clawbacks, Race Carsby Jacob Goldstein People who made a profit by investing with Bernie Madoff before the Ponzi scheme collapsed could face lawsuits, the WSJ reports today — even if they didn't know anything illegal was going on. The story's a reminder that there are often some "winners" in Ponzi schemes — people who invest, make money, and get out before the whole thing falls apart. There were about 2,000 "net winners" with Madoff, and half could be sued by the lawyer appointed to recover money for the victims of the scheme, the WSJ says. Investors who weren't aware they were investing in a Ponzi scheme can typically be sued for their profits (not for the initial amount they invest). These sorts of clawback lawsuits are also beginning in a $200 million Ponzi scheme run by a Minnesota "investment guru," MinnPost notes today. In other Ponzi news: A former NASCAR driver was arrested in Florida on 26 new counts of grand theft, the AP reports. The driver — who allegedly promised associates returns of 40 percent from investing in iron ore — was first arrested in February. Federal employees were the target of an alleged schemer who killed himself late last month, the Washington Post reports. He called his fake investment fund the "Federal Employees Benefits Group," and took $34 million from 260 investors. "This has had a very devastating effect on myself and my wife," one retired DEA agent who lost $450,000 told the Post. Source: NPR Blogs: Planet Money | 26 Jul 2010 | 9:22 am A Surprise Upswing in the Housing Market (Early Bird)New home sales for June show a sharp turnaround from May.
Source: SmartMoney.com | 26 Jul 2010 | 9:02 am BP Board to Decide on Tony Hayward’s FateBP’s Board of Directors will vote on whether to terminate CEO Tony Hayward at a meeting later today. The BP boss is expected to be voted off the oil-soaked island. From the BBC: A statement issued by BP said a board meeting was being held on Monday and “no final decision has been made”. Mr Hayward is likely to be replaced by his American colleague, Bob Dudley, who has taken charge of the clean-up operation. BP’s board are to sign off accounts, and these will also be discussed on Monday evening. The accounts will cover spill compensation and costs of up to £19bn, and may result in the worst quarterly loss for a UK firm. They are also likely to discuss terms of Mr Hayward’s severance package. When he became chief executive in 2007, the 53 year-old told journalists his number-one task was to focus “laser-like” on safety and reliability. The explosion on the drilling rig off Louisiana on 20 April, which killed 11 workers and triggered the worst oil spill in the US, raised questions about his leadership. Bob Dudley, who has been managing day-to-day operations in the Gulf, grew up in Mississippi, according to the BBC. From a PR perspective, he would be the ideal Hayward replacement. Given Tony Hayward’s rock-bottom reputation as CEO of BP, I think the outcome of today’s vote will be easy to predict.
Source: Business Pundit | 26 Jul 2010 | 9:00 am 7 Funds Laying Odds on Health Care (Screens)These funds are the top performers in a badly beaten-up category.
Source: SmartMoney.com | 26 Jul 2010 | 8:24 am 'It's Like Sending The Banks Away For A Weekend Of R&R'by Jacob Goldstein So those long awaited "stress tests" of European banks were released Friday. The idea was to give the world a clearer idea of how Europe's banks would fare if the economy were to head south again. But the tests made some remarkably rosy assumptions — and so failed to show what would happen in a significant downturn. "I see nothing stressful about this test," the chief global equity strategist at brokers Cantor Fitzgerald told Reuters. "It's like sending the banks away for a weekend of R&R." Two key problems with the tests: 1. Sovereign debt: The tests didn't fully consider what would happen if countries in fiscal trouble default on their debt. Many banks have invested lots of money in sovereign bonds that the banks plan to hold until maturity. The tests failed to ask the basic question: So what happens to those banks if the a government can't make good on its debt? 2. Adverse scenarios: Regulators in each country decided what assumptions to use for the adverse scenarios used in the tests. Some key details didn't seem particularly adverse, the WSJ notes. On average, regulators assumed unemployment would rise to 10.8 percent under an adverse scenario — up from an average of 10.7 percent this year under the baseline scenario. Still, the FT notes, the data released on the 91 banks that participated in the tests may ultimately be useful. The information will allow investors to conduct their own stress tests — and those tests may be far harsher than the ones just released by regulators. Source: NPR Blogs: Planet Money | 26 Jul 2010 | 6:45 am European stocks mixed amid stress-test doubts (AFP)
Source: Yahoo! News: Stock Markets News | 26 Jul 2010 | 6:25 am When Not to Hyphenate Your Last Name
Source: Business Pundit | 26 Jul 2010 | 4:34 am CEO Interview: Andrew Liveris, Dow Chemical (The Corner Office)Andrew Liveris has revamped the company with a lot of effort and a little luck.
Source: SmartMoney.com | 26 Jul 2010 | 3:01 am Recent Rally Could Usher in More Swings (Pundit Watch)Strong earnings and stress test results still leave questions for investors.
Source: SmartMoney.com | 26 Jul 2010 | 3:01 am A Housing Shortage on the Horizon?Some say the slow pace of construction could lead to housing shortages.
Source: SmartMoney.com | 26 Jul 2010 | 3:01 am
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