Rift opens in Italian coalitionItaly appeared to be heading for early elections or a government shake-up after Silvio Berlusconi moved to expel dissidents from his People of Liberty party, reducing his parliamentary majority to a threadSource: Financial Times - US homepage | 30 Jul 2010 | 12:50 pm BP boss scaling back oil effortIncoming BP chief executive Bob Dudley has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.Source: BBC News - Business | 30 Jul 2010 | 12:46 pm GM hikes production capacity for Volt by 50 pct (AP)AP - General Motors said Friday that it is boosting production capacity for its new Chevrolet Volt due to strong public interest in the electric car that goes on sale this year.Source: Yahoo! News: Business News | 30 Jul 2010 | 12:44 pm US rig count increases by 1 (AP)AP - The number of rigs actively exploring for oil and natural gas in the U.S. increased by one this week to 1,586.Source: Yahoo! News: Business News | 30 Jul 2010 | 12:39 pm Analysts encouraged by Microsoft's cloud progressThe company is making inroads in a market in which software applications are increasingly delivered online, analysts note.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 12:39 pm Greece turns to military to restore fuel supplies (AP)
Source: Yahoo! News: Business News | 30 Jul 2010 | 12:36 pm Iran trade sanctions hit Dubai portIn Dubai's port area, the renewed clampdown by the US on trade with Iran is hurting many legitimate, local businesses.Source: BBC News - Business | 30 Jul 2010 | 12:36 pm Stocks fall modestly as economic growth slowsNews that economic growth slowed during the spring gave the stock market a fitting end to a choppy July -- yet another back-and-forth day.Source: L.A. Times - Business | 30 Jul 2010 | 12:35 pm Wall Street edges lower as investors mull slow recovery (Reuters)
Source: Yahoo! News: Stock Markets News | 30 Jul 2010 | 12:34 pm Wall Street edges lower as investors mull slow recovery (Reuters)
Source: Yahoo! News: Business News | 30 Jul 2010 | 12:34 pm Wall Street edges lower as investors mull slow recoveryNEW YORK (Reuters) - Stocks fell on Friday, rebounding for a second day in a row from more substantial losses, as concerns about slower economic growth held trading to a tight range.Source: Reuters: Business News | 30 Jul 2010 | 12:34 pm Fishermen vs. BP: The case to watchAlthough it's probably not BP's top priority at the moment, an ominous lawsuit was filed against it last month in state court in Mobile, Alabama, by a man named Obie F. Carlisle.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 12:33 pm The future of social mediaGaming is already wildly popular. A recent spate of deals with Google, Disney, and Gamestop, suggest that social games have the promise to be wildly profitable, too.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 12:32 pm Facebook app maker vanishesFacebook said Wednesday it has deleted all applications created by Pencake, wiping out widgets used by an estimated 45 million Facebook members.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 12:32 pm Europe’s leaders choose holidays on home soilEurope’s top politicians are united in seeking to send out a message of moderation this summer, as they stay close to home for the holidaysSource: Financial Times - US homepage | 30 Jul 2010 | 12:32 pm Cuomo widens insurer probe with 6 more subpoenas (Reuters)
Source: Yahoo! News: Business News | 30 Jul 2010 | 12:32 pm Cuomo widens insurer probe with 6 more subpoenasNEW YORK (Reuters) - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military.Source: Reuters: Business News | 30 Jul 2010 | 12:32 pm Anonymous Former Goldman Employee Will Pay For His Sins
[Breathe] Rather than do what all of you think it’s going to do, which is just FLIP OUT, Goldman is going to use this as a teachable moment. What can we learn from the failure and apply the lessons toward future online surveys that will potentially embarrass the bank? Well, it seems there are a couple things in particular that can be gleaned, and here’s what they are: 1) making sure the threats suggested in exit interviews as to what could be visited upon outgoing employees should they fuck with the brand upon being released into the wild are taken seriously and 2) tagging said outgoing employees with GPS ankle monitoring bracelets that can never be removed and wiring their nipples with clamps through which an electric shock is sent if they so much as entertain the thought of violating lesson number 1. And a word of advice to this guy. Run:
Source: Dealbreaker | 30 Jul 2010 | 12:31 pm Stocks slide toward the closeStocks headed lower Friday, after languishing for most of the day, as investors weighed reports on U.S. economic growth, consumer confidence and regional manufacturing activity.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 12:30 pm Stocks Slide on Growth Concerns (Market Update)A slowdown in second-quarter economic growth sent U.S. stocks lower, but it wasn't...Source: SmartMoney.com | 30 Jul 2010 | 12:30 pm Rocco Forte hires ex-M&B finance director Karim NaffahKarim Naffah, the former finance director of Mitchells & Butlers who lost his job after leading a £500m hedging debacle, has been appointed as managing director of the Rocco Forte Collection.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 12:30 pm Metals Stocks: Gold climbs for the day, but loses 5% on monthGold has its worse month since December. In contrast, copper gains 12% in July, the base metal's best since April 2009.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 12:30 pm Chrysler profitable, no rush to IPO: CEODETROIT (Reuters) - Chrysler, the No. 3 U.S. automaker, would be profitable on a net basis if it were not for the interest costs of loans remaining from its bailout, the automaker's chief executive said on Friday.Source: Reuters: Business News | 30 Jul 2010 | 12:29 pm Chrysler profitable, no rush to IPO: CEO (Reuters)
Source: Yahoo! News: Business News | 30 Jul 2010 | 12:28 pm BP readies static kill; shares up 33% in JulyBP PLC is moving ahead with plans to plug up the blown-out Macondo well drilled by the stricken Deepwater Horizon rig, with a so-called static kill operation expected to start by Monday.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 12:27 pm PIMCO’s Bill Gross Confirms Slower Growth Ahead, For YearsIt is month-end, and bond-magnate Bill Gross of PIMCO is out with a new round of predictions. The bond guru’s August Investment Outlook often has quirky ways of explaining things, and he’s using ‘auto-flush toilets’ to describe The New Normal. We’ll skip over the fecal disposal systems… Gross notes that The New Normal is predicated [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 12:26 pm Stocks fall modestly as economic growth slows (AP)
Source: Yahoo! News: Stock Markets News | 30 Jul 2010 | 12:23 pm Investors drop risk after US GDP dataGlobal Markets Overview: The FTSE All-World index is down 0.5% following a lower-than-forecast GDP growth report for the US, and the yen and short-term US Treasuries are seeing record demandSource: Financial Times - US homepage | 30 Jul 2010 | 12:21 pm John Dvorak's Second Opinion: The e-reader battle is just beginningJohn Dvorak admits he was initially skeptical about e-readers, but now he says they're here to stay.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 12:20 pm Summary Box: Merck's 2Q result a bit disappointing (AP)AP - WEIGHED DOWN: Nearly $2 billion in restructuring costs after buying Schering-Plough, plus other charges, drive Merck's second-quarter profit down 52 percent to $752 million.Source: Yahoo! News: Business News | 30 Jul 2010 | 12:18 pm Worst job on Earth: BP calling all applicantsIt could quite possibly be called the worst job on Earth -- and the position is open.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 12:17 pm SEC's Wyly brothers charges may depress donationsBillionaire Texas brothers Sam and Charles Wyly have created a name for themselves by spending millions of dollars on conservative political candidates and committees, but new Securities and Exchange Commission charges against them are expected to depress – or completely wipe out – future donations to Republicans.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 12:16 pm Reasons Behind the Market's Recent Revival (Ahead of the Curve)Luskin: Extending the Bush-era tax cuts will help the economy, stocks.Source: SmartMoney.com | 30 Jul 2010 | 12:12 pm Moratorium on drilling to hit Chevron outputChevron said that the moratorium on deep-water drilling in the Gulf of Mexico following the leak from the Deepwater Horizon well had significantly affected its exploration programme and would lead to lost production this yearSource: Financial Times - US homepage | 30 Jul 2010 | 12:11 pm Li Ka-Shing, Asia's richest man, buys EDF's UK power grids for £5.8bnLI Ka-Shing, Asia's richest man, has bought EDF's British electricity network business for £5.8bn in a deal that will see its £500m pension deficit for UK workers reduced by a quarter.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 12:08 pm BP boss scaling back oil effortThe incoming BP chief executive has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.Source: BBC News - Business | 30 Jul 2010 | 12:07 pm Currencies: Dollar pares gains after U.S. dataThe U.S. dollar gave up some of its earlier gains against the euro Friday.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 12:06 pm Spin wars: White House vs. businessThe Obama administration gave a positive spin to second-quarter economic numbers released Friday, with the administration's chief economist saying they show a "steady recovery from the recession continues."Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 12:04 pm Microsoft tablet coming 'soon'Microsoft Chief Executive Steve Ballmer said Thursday that the software giant is urgently working with its partners to unveil a host of tablet computers running Windows 7, to compete with Apple's fast-selling iPad.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 11:58 am Analysts expect rebound in July car salesSurprisingly, consumers are heading to dealerships despite the lack of incentives from auto makers.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 11:54 am China closer to becoming second-largest economyA senior Beijing official’s reference to China as the ‘world’s second-largest economy’ has sparked excited speculation that Asia’s new powerhouse may have already reached a long-looming milestone by surpassing JapanSource: Financial Times - US homepage | 30 Jul 2010 | 11:53 am Market Snapshot: U.S. stocks head down convincingly after dataU.S. stocks fall Friday after government data show economic growth slowed in the second quarter.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 11:52 am KiwiRail in new homeKiwiRail has signed a 10-year lease for 4100sq m of office space in a new Parnell building at 8 Stanley St. Jim Quinn, chief executive, said the state-owned rail and ferry organisation would move to the second and third floors...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:50 am A Large Water Dividend Gets Larger (AWK)Investing in water is one of the trends that investors have gone after for years and years. After all, the future of the world and life depend entirely upon the availability of fresh water. American Water Works Company, Inc. (NYSE: AWK) is a company that we predicted in February would raise its dividend. That has [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 11:49 am Shire among the laggards as FTSE 100 slipsShire Pharmaceuticals looked under the weather on Friday as the FTSE 100 slid 55.93 points to 5258.02 on weak US growth data.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 11:44 am Picking up Penguins for 75 yearsA colourful history of the famous book publisherSource: BBC News - Business | 30 Jul 2010 | 11:42 am In Detroit, Obama hails auto-industry growthGovernment bailouts paying off, jobs rebounding, president says.Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 11:42 am Airline Stocks: After a solid July, airlines stocks face headwindsJuly was a good month for airline stocks with solid, double-digit expansion and soaring executive optimism that the industry will continue to grow revenue through 2011. Can share prices hold up against this favorable backdrop?Source: MarketWatch.com - Top Stories | 30 Jul 2010 | 11:40 am Arch Coal 2Q profit surges on global sales (AP)AP - Arch Coal Inc. said Friday it reversed losses from a year ago during the second quarter, handily beating Wall Street's expectations on the strength of global markets and a nearly 40 percent jump in sales.Source: Yahoo! News: Business News | 30 Jul 2010 | 11:38 am 'Maybe I'll be in Rocky 7'Champion boxer Joe Calzaghe, 38, held the WBO title for 10 years and retired in 2009 after 26 years in the ring.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 11:37 am Facebook 'postpones' float until 2012 to allow growthFacebook looks increasingly unlikely to risk a stock market float before 2012, in order to financially capitalise on its ever-growing band of followers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 11:36 am Glimcher offering raises $96M after costs (AP)AP - Real estate investment trust Glimcher Realty Trust said Friday a recently completed public offering of 16.1 million common shares generated about $96 million, after commissions, discounts and expenses.Source: Yahoo! News: Business News | 30 Jul 2010 | 11:36 am Immigrant worker limit criticisedGovernment plans to limit the number of skilled foreign workers allowed into the UK are criticised by the Lord Mayor of London.Source: BBC News - Business | 30 Jul 2010 | 11:31 am Goldman employees still enamored with firm and CEO (Reuters)Reuters - Goldman Sachs Group Inc is the bank many Americans love to hate, but one group just plain loves it: its employees.Source: Yahoo! News: Business News | 30 Jul 2010 | 11:30 am Goldman employees still enamored with firm and CEONEW YORK (Reuters) - Goldman Sachs Group Inc is the bank many Americans love to hate, but one group just plain loves it: its employees.Source: Reuters: Business News | 30 Jul 2010 | 11:30 am Coffee drinkers embrace fair factorFairtrade - it's the buzzword of "ethical" consumerism in the 21st century. Many in the West sing its praises but fewer understand the complex forces governing the lives of Third World farmers from Burkina Faso to Bolivia.Most...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Investors shake up $191m trustUnitholders in the $191.2 million listed National Property Trust voted overwhelmingly in favour of major restructuring yesterday.About 120 investors, including representatives of major institutions, supported big changes which...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Telecom gets $75m for AAPT consumer saleTelecom has quit part of its Australian business with the sale of its retail business to rival iiNet.The A$60 million ($75 million) deal will see iiNet buy AAPT's consumer division complete with 200,000 broadband and phone customers.It...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Airlines living on the edge: CEOAirlines talk business in billions but the difference between big profits or large losses is small, says Cathay Pacific Airways chief executive Tony Tyler.Airlines went through a desperately bad time during 2008 and 2009, with...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Brian Gaynor : Population, the debate we need to haveMigration and population growth are leading issues of debate during the Australian general election campaign.These are important topics because population growth is a powerful driver of economic growth and population structures...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Rise in unemployment puts brakes on Japan's economyJapan's unemployment unexpectedly rose for a fourth straight month and industrial production fell the most in more than a year, signalling the economic expansion is poised to slow.The jobless rate climbed to a seven-month high...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Expensive tastes help boost airfreight volumes to ChinaXin Jing spends about 200 yuan ($41) on Japanese sashimi each time she visits the city'super grocery store in Shanghai. Her appetite is helping fill cargo planes bound for China, boosting profit at Cathay Pacific."Sashimi is my...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am No Budget? No Problem, Say California Bond Investorsby Sarah McBride
Rich Pedroncelli/AP
Gov. Arnold Schwarzenegger responds to a question about his revised state spending plan Logic tells you that a state with as big a budget mess as California should be paying the price in higher interest rates when it comes to the bonds its issues. But in this case, logic is wrong. As Tom Petruno writes in the Los Angeles Times, the annualized tax-free yield on California's five-year general-obligation bonds has fallen to 2.1 percent from 3 percent in mid April. That compares with 4 percent in mid 2009. And it's despite California's budget impasse. California bonds are simply benefitting from investors' disgust with the lackluster stock market, fears about the overall economy, and desire to have some kind of return for their cash. A widespread belief taxes will rise next year makes tax-free bonds look even better. Budget-tightening by states and municipalities around the city mean fewer bonds are being issued, so supply and demand comes into play too. Source: NPR Blogs: Planet Money | 30 Jul 2010 | 11:30 am Hope antidote to morally bleak worldGlance at a newspaper any day of the week and you read about an ethically compromised world, especially in business.How, I ask the "corporate philosopher", does he maintain hope? On the phone from London, Roger Steare is philosophical:...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Taste for new houses back on the riseNew Zealanders' appetite for new houses appears to be returning, according to figures out yesterday.Statistics New Zealand said the number of new dwellings authorised, including apartments, for the year to June rose 14 per cent...Source: nzherald.co.nz - Business | 30 Jul 2010 | 11:30 am Bradford & Bingley back in the black with £896m profitBradford & Bingley, the nationalised buy-to-let mortgage specialist that is in run-off, has returned to profit after bad debts fell in the first half on the back of the improving economic conditions.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 11:27 am Leaks highlight Pakistan’s Afghan questUS relief at Islamabad’s retention of its powerful army chief will be tempered by documents on WikiLeaks that allege the ISI backed Afghan militants while he was in chargeSource: Financial Times - US homepage | 30 Jul 2010 | 11:25 am Merck pares 2010 forecast, despite beat in quarterNEW YORK (Reuters) - Merck and Co issued a more cautious 2010 profit outlook on Friday and reported disappointing second-quarter sales of its vaccines and Singulair asthma drug, sending its shares down 2 percent.Source: Reuters: Business News | 30 Jul 2010 | 11:21 am Imports slow second-quarter growthWASHINGTON (Reuters) - Economic growth slowed in the second quarter as companies invested heavily in equipment from abroad and the pace of consumer spending eased, raising concerns about the recovery in the rest of 2010.Source: Reuters: Business News | 30 Jul 2010 | 11:12 am Stage set for Fed bond ‘strippers’ to perform‘Strips’, bonds that have been ‘stripped’ of their interest payments until maturity, tend to outperform regular bonds when interest rates fall sharplySource: Financial Times - US homepage | 30 Jul 2010 | 11:08 am BP cuts back oil spill clean-up as it prepares to 'kill' leakBP has begun scaling back its efforts to clean up oil in the Gulf of Mexico after its giant spill at the "right time", according to incoming chief executive Bob Dudley.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 11:04 am Chevron earnings tripleNEW YORK/SAN FRANCISCO (Reuters) - Chevron Corp, the second-largest U.S. oil company, posted three-fold profit growth that beat estimates as refinery margins improved, and raised its 2010 oil and gas production growth target to 3 percent.Source: Reuters: Business News | 30 Jul 2010 | 11:03 am Disney to sell Miramax for more than $660 millionLOS ANGELES/NEW YORK (Reuters) - Walt Disney Co has struck a deal to sell Miramax, the studio behind such films as "Trainspotting" and "No Country for Old Men," for more than $660 million to a group that includes construction magnate Ron Tutor and investment firm Colony Capital LLC.Source: Reuters: Business News | 30 Jul 2010 | 11:02 am Dick Bové Washes His Hands Of The Securities And Exchange Commission
Citigroup to pay $75 mn to settle SEC charges [Business Standard]
Source: Dealbreaker | 30 Jul 2010 | Source: Dealbreaker | 30 Jul 2010 | 11:00 am Broadband bundles made clearSky, Virgin or Freeview? Finding the cheapest phone, broadband and TV package can be daunting. We look at the options.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 10:56 am Best broadband deals for tv sport and filmThe best packages for sports fans, film buffs and high definition and bundle deals.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 10:48 am This Week’s LinksWriting on the Wal is one of those neat corporate critique blogs (guess who it’s targeting) that I’m surprised I haven’t come across before. Cultural Offering has a neat graphic called the skill luck continuum. Blogging’s on the far left. I swear. Kommein has a great list of how and where to recycle your old gadgets, laptops and toys. Financial News Express takes a well-thought-out look at how bad the oil spill isn’t. Add don’t be pregnant to the long list of things (self-employment, owning a condo, not having a pile of money saved) that will stop you from getting a mortgage. (Minyanville) Bonus link: Becker-Posner on the abuse of presidential power. Source: Business Pundit | 30 Jul 2010 | 10:45 am 2010 Becomes The Year of the Conglomerates (GE, MMM, HON, UTX, BRK-A, SPY, DIA)2010 may be a directionless year for the stock markets so far, but shares of conglomerates are outperforming and more upside is expected. The five largest conglomerates we follow are all higher for the year. We took a look at General Electric Co. (NYSE: GE), 3M Co. (NYSE: MMM), Honeywell International Inc. (NYSE: HON), United [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 10:43 am Not spending like drunken sailors - The BuzzThe economy is heading nowhere fast. That's the bad news. But the good news is that it still seems like consumers may have actually learned a lesson or two about reckless fiscal behavior.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 10:41 am FTSE ends lower on US growth data (AFP)
Source: Yahoo! News: Stock Markets News | 30 Jul 2010 | 10:38 am States are broke. You're on the hook.The states are broke, and like many consumers, they're borrowing big time to get out of their fiscal binds.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 10:34 am Hedge Fund Girls Suing Former Boss, His Wife, For Suing Them, For Hanging On To Topless Pics Of Said Wife
The girls decided to leave the firm soon after the incident, feeling that they’d been sexually harassed on account of having to look at the boss’s wife naked (Culicea was not part of TitYacht-gate, but was asked to print other classy shots from the trip, of the newlyweds taking a bath). After they resigned, Russel’s brother Marc, who is a Vice-President at the Titan, left a few psycho emails and voicemails for Danielle who, oh, btw, he used to date, calling her “a dirty pig thief,” a “rotten bitch,” and a “whore.” That detail is not part of the suit, but was just something Danielle wanted to get out there. So the ladies asked for $2.5 million, saying they were sexually harassed and deeply disturbed by the topless shots, which for some reason they decided to hold on to. Not for their personal files, but insurance, to make sure they got their money. Some might call this blackmail, extortion, what have you, but their lawyer, Douglas Wigdor, not into such labels, totally backed them up on it, telling the Post that the pics would not be returned until the case was settled with a check for a couple mill and a half, opening the door for a countersuit by Sandra Abrams, who claimed the girls’ demand was “nothing short of blackmail,” which, yeah, it kind of was! Sandra demanded the pics back, and $1 million for emotional distress. In the year-long interim, we figured this whole thing had been settled but surprise! It hasn’t. Instead, the girls filed a counter suit to the counter suit yesterday, again claiming sexual harassment, though not commenting on the photos (which may or may not still be held for ransom) and requesting unspecified monetary damages.
Source: Dealbreaker | 30 Jul 2010 | 10:32 am Mutual Fund Buzz for July 30: Investors Still Favor Bond Funds (U.S. News & World Report)U.S. News & World Report - Investors still trust the safety of bond funds. June was another good month for fixed income. The Investment Company Institute reported that overall, mutual funds saw net inflows, mostly into bond funds. Bond funds experienced inflows of more than $20 billion--up about $6 billion from May. Meanwhile, stock funds saw more outflows. The WSJ reports that investors haven't consistently put money into stock funds since the market hit its low in March 2009. Low-yielding money market funds also continued to see outflows, which brings their total outflows for the year to more than $500 billion.Source: Yahoo! News: Stock Markets News | 30 Jul 2010 | 10:30 am Fraud charges over £115m inquiryA businessman investigated by City of London police is facing 30 charges of fraudSource: BBC News - Business | 30 Jul 2010 | 10:28 am Lunch with the FT: Alan GreenspanThe former US Federal Reserve chairman talks about the mistakes during his time at the government agency, his legacy and life out of the spotlightSource: Financial Times - US homepage | 30 Jul 2010 | 10:12 am Anglo American reinstates dividend as earnings doubleMining group's pre-tax profits rose to $3.9bn from $3.6bn in the six months to June, as underlying earnings climbed 102pc to $2.2bn.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 30 Jul 2010 | 10:11 am Let's fund every entrepreneurThere was a great conversation Thursday at Y Combinator's AngelConf in Silicon Valley. Anthony Ha of Venturebeat had a couple posts on it that I just read, one on Paul Graham's comments, and another on Ron Conway and Mike Arrington's comments. I would have enjoyed being part of that discussion, so I'll join in now.Source: Business and financial news - CNNMoney.com | 30 Jul 2010 | 10:10 am Chevron's quarterly profits soarChevron Corp.'s report continues what has been a strong week for Big Oil. Second-quarter profits more than tripled over a year ago, to $5.4 billion.Chevron Corp. continued what has been a very big week for most of the world's super-sized oil companies, shattering analyst expectations and more than tripling its second-quarter profits to $5.4 billion compared to a year ago, company officials announced Friday. Source: L.A. Times - Business | 30 Jul 2010 | 10:08 am Cokeheads Et Al Unwittingly Saving Euro Zone, According New Report By CitiSo give it up for them says the bank’s chief economist. Gangsters, drug dealers and money launderers appear to be playing their part in helping shore up the financial stability of the euro zone. That’s thanks to their demand, according to European authorities, for high-denomination euro bank notes, in particular the €200 and €500 bills. The European Central Bank issues these notes for a hefty profit that is welcome at a time when its response to the financial crisis has called its financial strength into question. The high-value bills are increasingly “making the euro the currency of choice for underground and black economies, and for all those who value anonymity in their financial transactions and investments,” wrote Willem Buiter, chief economist at Citigroup, in a recent research report. The business of issuing euro notes, produced at almost zero cost, is “wildly profitable” for the ECB, Mr. Buiter wrote. [WSJ]
Source: Dealbreaker | 30 Jul 2010 | 10:03 am Kerner Sees Facebook Putting Off IPO as It Seeks Growth: AudioSource: Bloomberg - All Podcasts | 30 Jul 2010 | 10:01 am Tribune proposes severance package for top executivesThe Chicago company, which owns the Los Angeles Times, did not put a price tag on the proposal it has submitted in bankruptcy proceedings.Tribune Co. proposed paying its top 43 executives a severance package of cash and benefits if they are asked by a new board to leave the company after the media conglomerate emerges from bankruptcy. Source: L.A. Times - Business | 30 Jul 2010 | 10:01 am Fugitive Nadir will stand trialFugitive Polly Peck tycoon Asil Nadir, who fled to northern Cyprus in 1993, confirms he will come back to the UK to stand trail on theft charges.Source: BBC News - Business | 30 Jul 2010 | 9:59 am Brookfield Homes in merger talks with CarmaBrookfield Homes Corp. said Friday it's discussing a possible merger with Carma Developers LP, the North American residential and housing division of Brookfield Properties Corp. The...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:58 am ALL BUSINESS: A bright spot in a tough economyFedEx Corp. is reversing one of the uglier corporate trends of the recession: Starting in January, it will restore matching contributions to its employees' 401(k) plans. For some workers,...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:56 am Motorists can expect fairly steady pump pricesAlthough gasoline demand has been slightly stronger in the past month, ample supplies have kept prices below $3 a gallon. It's trend that should extend to Labor Day, unless a hurricane...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:54 am No end for Greek fuel protest, tourism slammedDefying an emergency government order, Greek truck drivers vowed Friday to press ahead with a strike that has halted fuel supplies across the country and is hurting tourism during the peak...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:53 am Aon quarterly profit rides high on acquisitionsBANGALORE (Reuters) - Aon Corp , the world's largest insurance brokerage, reported a market-beating quarterly profit, driven by recent acquisitions that offset a drop in commissions.Source: Reuters: Business News | 30 Jul 2010 | 9:46 am US growth slows in second quarterEconomic expansion slowed in the second quarter of the year as a swelling trade deficit and weaker consumer spending proved a drag on the recoverySource: Financial Times - US homepage | 30 Jul 2010 | 9:42 am American Axle turns to 2Q profitAmerican Axle & Manufacturing Holdings Inc. reported a second-quarter profit on Friday after a big loss a year ago on charges. Its revenue more than doubled on a resurgence of the auto...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:41 am Congress OKs bill to make commuter airline saferCongress on Friday approved far-reaching aviation safety legislation that was developed in response to a deadly commuter airline crash in western New York last year. The Senate approved...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:36 am Stocks regain ground after mixed economic reportsStock prices fluctuated Friday after investors found some upbeat news in the government's assessment of the economy during the April-June quarter.Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 9:36 am Chrysler to add 900 jobs to midsize-car plantChrysler says it will add nearly 900 jobs early next year at a factory in suburban Detroit that makes midsize cars. The company says the factory in Sterling Heights, Mich., will remain...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:33 am Airbus firm EADS lifts output aimAirbus parent firm EADS says it is confident about future orders, despite reporting a fall in second-quarter earnings.Source: BBC News - Business | 30 Jul 2010 | 9:31 am Incoming BP CEO: Time for 'scaleback' in cleanupBP's incoming CEO says it's time to scale back the massive effort to clean up the oil spill, but adds that the commitment to make things right is the same as ever. Bob Dudley was in...Source: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:31 am TD Bank Opens New Green Call Center in Auburn, MaineSource: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:30 am Charterhouse Group to Sell NewPath Networks to Crown Castle in a $115 Million TransactionSource: RSS feed - channel BNewsBusiness | 30 Jul 2010 | 9:30 am The Economy: It's Worse Than We Thoughtby Sarah McBride
Paul Sakuma/AP
This unemployed guy could have told you the economy was no great shakes. The nation's economy grew at a modest 2.4 percent rate last quarter, according to the Commerce Department, which also revised down estimates going back three years. That means the recession was worse than previously believed. The government revised down its estimates for seven quarters dating back to the first quarter of 2007. But the Commerce Department said the first quarter of this year showed more growth than previously reported, 3.7 percent compared to 2.7 percent. The second-quarter data showed businesses are investing more in equipment and buildings, while consumers are keeping their spending in check. Consumers are also saving more than previously reported. Source: NPR Blogs: Planet Money | 30 Jul 2010 | 9:24 am Does a Double Dip Recession Lie Ahead? (Early Bird)Second-quarter GDP grows less than expected, fueling investor anxiety.Source: SmartMoney.com | 30 Jul 2010 | 9:21 am Bonus Watch: JPMorganPeople are reportedly prettay prettay pleased at the House of Dimon this morning.
Source: Dealbreaker | 30 Jul 2010 | 9:17 am Gartman on Markets, Choudhry on Eurozone, U.S. GDP: First WordSource: Bloomberg - All Podcasts | 30 Jul 2010 | 9:17 am US economic growth slows to 2.4%US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department says.Source: BBC News - Business | 30 Jul 2010 | 8:48 am TeleNav, When IPOs Die (TNAV)If you have been an IPO investor in 2010, you might wonder if there are better ways to make a buck. TeleNav, Inc. (NASDAQ: TNAV) just joined in the wave of problem IPOs that become busted deals trading well under the IPO price. The drop after earnings is severe enough that TeleNav may have just [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 8:42 am Royal Mail pension plan in doubtThe Pensions Regulator is challenging a crucial plan to pay off the £10bn deficit in the Royal Mail pension scheme.Source: BBC News - Business | 30 Jul 2010 | 8:31 am Alison Weir Discusses Her Book `Captive Queen': Lewis LaphamSource: Bloomberg - All Podcasts | 30 Jul 2010 | 8:19 am The Silly Notion of DeflationDeflation… Bah humbug! The arguments are still relatively new over whether the global economy is headed for a double-dip recession or just an extended period of slow growth for the future. There is a separate argument regarding whether the markets are going to have to deal with a new period of deflation after reports this [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 8:14 am Jan Van Eck Sees Declining Debt in Emerging Markets: AudioSource: Bloomberg - All Podcasts | 30 Jul 2010 | 8:00 am Subdued US growth weighs on world markets (AP)
Source: Yahoo! News: Stock Markets News | 30 Jul 2010 | 7:59 am Economy slows sharply in second quarterThe nation's measure of economic growth shows a modest 2.4% gain in spring, compared to a 3.7% rise earlier in the year, more evidence the fragile recovery is losing steam, a Commerce Department report says.A new government report Friday showed that U.S. economic growth slowed sharply in the spring, providing more evidence that the fragile recovery is losing momentum and is unlikely to generate many jobs anytime soon. Source: L.A. Times - Business | 30 Jul 2010 | 7:43 am Economy slows sharply in second quarterThe nation's measure of economic growth shows a modest 2.4% gain in spring, compared to a 3.7% rise earlier in the year, more evidence the fragile recovery is losing steam, a Commerce Department report...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 7:43 am China overtakes Japan as No.2 economy: FX chiefBEIJING (Reuters) - China has overtaken Japan to become the world's second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.Source: Reuters: Business News | 30 Jul 2010 | 7:40 am The Ghosts of GDPGross Domestic Product did show another positive figure for the Q2-2010 period but not as seen before and a tad less than what economists were expecting. The Commerce Department reported that GDP rose by 2.4% in the second quarter. Estimates from Dow Jones and other sources had a consensus target from economists at 2.5%. The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 7:36 am Opening Bell: 07.30.10From Tiananmen Square to Possible Buffett Successor (WSJ) For Goldman Sachs, Remaking a Hub in Battery Park City (CityRoom) Wyly Brothers Face SEC Fraud Charge (WSJ) Obama Making Sales Pitch for Auto Bailouts to Skeptical Voters (Bloomberg) Marc Faber Questions if Dow Could Hit 1,000 (CNBC) Americans Buy IPads While Broke in New Abnormal Economy (Bloomberg) Nomura Said to Hire 40 Students as Global Bankers at Triple Pay (Bloomberg) Hank Paulson: Housing policy must be set on sustainable basis (WaPo)
Source: Dealbreaker | 30 Jul 2010 | 7:30 am This Week’s Weird Jobs
1. SC: Bachelorette Party Entertainment Would like to arrange a stripper (not naked) for our girlfriend gettin married… Tonight is her bachelorette party and would love to have you show up at one of the downtown bars we’ll be hitting and give her a last hoorah! Please let me know if you or someone you know does this kind of thing…. Note to poster: There’s no reason for an ad here. Just order a few rounds of whiskey for the hottest, dumbest guys in the bar and there you go. 2. SC: Chemist Wanted, ASAP! Startup Bio Diesel firm is looking for a chemist to join its Executive Team. We will first produced bio- diesel with cooking oil and graduate to a product that is gaining notice in Europe. The equipment that will be used initially is the Fuelmeister; please Google to see how this device is used and get back to us immediately if you are interested. The successful candidate may be offered a percentage of the firm This job would be especially cool if you could be called The Fuelmeister. 3. IL: Catfight Models Wanted Erotic Fully Clothed Female Fantasy Wrestling/Catfights based on customer requests. Earn $200 -$300 per nite Fri and Sat This material will be of interest to those models who enjoy working with other female models. None violent, NONE injurious fantasy classic catfight material. You can make money several ways. Making customs, clips and pics for sale, as well as live shows The female fight is becoming a common part in particular of any young actresses portfolio. However it is nice to have a more traditional feminine vein to perform in, without getting ones pretty face roughed up doing some kung fu
Best thing is too, keep some of your own material and sell it well into your 50′s or even 70″s. No STD’s to worry about, etc etc Fetishes explored here, revolve mainly around the legs, heels, bums, skirt dresses, panty, pantyhose hair, nails, clothes destruction, soft girl girl fight action, some scripted holds and wrestling fetish material as well. Catfighting is a basic 50′s and 60′s fetish. It’s also a very popular and legal fetish of sorts in China via Hong Kong, India and much of the Middle East. If you can count you should be able to realize this huge potential market. Models that come to mind include La Kisha, Betty Page, the la Belle twins, etc Big in China, India and the Middle East, you say? What a enormous surprise! 4. DC: Spunky LOUD Hostess needed for fitness club Looking for RACHEL RAY type of personality – fun, enthusiastic, high-energy, extremely talkative and quick with conversational comebacks! Spunky LOUD Hostess and Fitness Lover needed for the following: Must have a loud and happy voice, be a motivating and positive person, and work well alone and with others! Job requirements: - Selling memberships- must have 3 years or more of AGGRESSIVE sales background (asking people after a haircut and color if they want to buy some shampoo is NOT aggressive!) - Greeting and encouraging members during their workout – you must be talkative and conversationally assertive - Calling members and confirming appointments – you MUST have a great phone voice and genuinely LOVE to be on the phone- this is a BIG part of the job so move on if you hate being on the phone! - Our employees bond with our members. It’s a community/small town-type atmosphere. This is for people who want a social, long-term job that requires them to multi-task and inspire women. - You MUST be great under time restraints and able to wear many hats efficiently. Like many jobs, we are either slammed busy or quiet and slow. We pay $8.50/hr to start with a pay increase after the first employee review. - Remember: you MUST have a LOUD and HAPPY voice, some experience with sales and able to multi-task. If this does not suit you, do not answer this. Here at the fitness club, we are all LOUD and ANNOYING. Do join us! 5. DC: Pet Taxi Drivers and Dog Bather – Unique Hours Caring for animals is one of the most therapeutic experiences. Pair that with a paycheck and you have a dream of a part time position! In fact, many of our employees would say you’d be hard pressed to find a more enjoyable “job.” We are currently looking for 1-2 enthusiastic individuals with unique schedules that have an interest in either being a pet taxi driver or dog bather (or both if you have the time). An ideal pet taxi driver would have availability between the hours of 7-9am and 5-7pm and must be comfortable transporting sometimes multiple dogs in their personal vehicle. The ideal candidate for the dog bather position would be available M-F from 3-5pm. This person should be comfortable handling dogs of all sizes and breeds. Pay for both positions will be between $9.25-10/hr. Note that if you own a Pinto and need to transport multiple dogs, roof racks are not an option. Happy Friday! Source: Business Pundit | 30 Jul 2010 | 7:29 am Top Day Trader Alerts (ALU, CSTR, GERN, GOOG, BIDU, OREX, PWER, TNAV, WYNN)Day traders and active traders have many stocks on the move to choose from this Friday. Some of the top percentage movers and standout stocks are Alcatel-Lucent (NYSE: ALU), Coinstar Inc. (NASDAQ: CSTR), Geron Corp. (NASDAQ: GERN), Orexigen Therapeutics Inc. (NASDAQ: OREX), Power-One, Inc. (NASDAQ: PWER), Google Inc. (NASDAQ: GOOG), Baidu, Inc. (NASDAQ: BIDU), TeleNav, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 7:04 am Top Analyst Upgrades & Downgrades (CATM, CLNE, ENOC, GFI, HAL, HUM, FSLR, WFR, MYL, POT, SINA, RNWK, WDC)These are some of this Friday’s top analyst upgrades and downgrades seen from Wall Street research calls: Cardtronics Inc. (NASDAQ: CATM) Started as Neutral at UBS. Clean Energy Fuels Corp. (NASDAQ: CLNE) Cut to Underperform at National Bank. EnerNOC, Inc. (NASDAQ: ENOC) Started as Outperform at Wells Fargo. Gold Fields (NYSE: GFI) Started as Sell [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 6:42 am 10 Things Dermatologists Won't Say (10 Things)With skin cancer on the rise, a look at the changing face of dermatology.Source: SmartMoney.com | 30 Jul 2010 | 6:27 am Weddings By the Hourby Sarah McBride
Colin Purrington/flickr
Look at a wedding by the hourly cost instead of the total tab, suggests the WSJ's Brett Arends, and get ready for even bigger sticker shock. Measured that way, Chelsea Clinton's upcoming nuptials cost $270,000 an hour, assuming a $3 million overall tab and a celebration that lasts 11 hours. At $2 million, that's still $180,000 an hour. "How much fun can anyone have in an hour? Even if you're, say, doing the tango with Oprah Winfrey?" asks Arends. Even for mere mortals who spend the average price of $17,500 for a wedding, that's still $1,500 an hour if it lasts 11 hours. If it lasts just six, that's $3,000 an hour. Arends suggests buying stock in theknot.com— which unlike many wedding throwers has lots of cash and no debt. Source: NPR Blogs: Planet Money | 30 Jul 2010 | 6:15 am Today’s Best Market Rumors 7/30/2010Updated throughout the day. Facebook may postpone its IPO until 2012 (Reuters) American International Group (NYSE: AIG) will add Citigroup (NYSE: C) as another underwriter of its AIA IPO. (Reuters) China hedge fund manager Li Lu may eventually take Warren Buffett’s job managing money for Berkshire Hathaway (NYSE: BRK.B). (NYTimes) Douglas A. McIntyre Filed under: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 6:00 am The Twitter-24/7 Wall St. Market Watch (7/30/2010): Facebook IPO, Disney Dumps MiramaxTwitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million Twitter users. It raises the question of whether there is wisdom in crowds. 24/7 Wall St. will look at the Twitter [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 24/7 Wall St. | 30 Jul 2010 | 5:43 am European stocks falter before US output data (AFP)
Source: Yahoo! News: Stock Markets News | 30 Jul 2010 | 4:49 am An Unnecessary Headline?
Source: Business Pundit | 30 Jul 2010 | 4:49 am The Mortgage Mess's Dirty Details (By the Numbers)Hough: New research shows how Congress pandered during the bubble.Source: SmartMoney.com | 30 Jul 2010 | 4:35 am Mining losses erode London's July rallyThe rally on London's equities market continued to falter on Friday, with losses for heavily-weighted mining stocks ahead of closely-watched US economic data. The selling was took the FTSE 100...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 4:24 am How Will Retailers Fare This Quarter? (Broker Talk)Two economists discuss how consumer confidence could affect sales.Source: SmartMoney.com | 30 Jul 2010 | 4:11 am Investors drop risk ahead of US GDP dataFriday 11.00 BST. With the second-quarter US gross domestic product report looming later in the day, markets are selling risk on fears that the world's largest economy will prove to be growing below economists'...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 4:07 am Beauty and the Buck: A Financial Tale (Money and Your Mind)Pretty may pay better, but it can also trigger an anti-beauty bias.Source: SmartMoney.com | 30 Jul 2010 | 3:01 am The Week in Business Tweets: Swift Moves (Twitter Beat)Goldman Sachs's end run around the Volcker Rule, plus an IPO for Carlyle?Source: SmartMoney.com | 30 Jul 2010 | 3:01 am Using Forensic Research to Identify TrendsMartin Sass favors companies with high free cash-flow yields.Source: SmartMoney.com | 30 Jul 2010 | 3:01 am Plan Early for Failing Financial HealthHow to prepare your family in case you become less financially independent.Source: SmartMoney.com | 30 Jul 2010 | 3:00 am SEC charges billionaire Dallas brothers with insider tradingA lawsuit says the pair, known for support of conservative causes, made $550 million in undisclosed profits. Their attorney says the charges are 'without merit.'Sam and Charles Wyly, Dallas billionaire investors known for their support of conservative candidates and causes, made $550 million in undisclosed profits through 13 years of insider trading, according to a Securities and Exchange Commission lawsuit filed Thursday. Source: L.A. Times - Business | 30 Jul 2010 | 1:02 am SEC charges billionaire Dallas brothers with insider tradingA lawsuit says the pair, known for support of conservative causes, made $550 million in undisclosed profits. Their attorney says the charges are 'without merit.' ...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 1:02 am Is gold dealer using fear to steer buyers into more expensive purchases?Southern California authorities are probing the sales tactics of Santa Monica's Goldline International, a key sponsor of Fox News host Glenn Beck. ...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 1:00 am Slashing lease prices could be a risky move for ToyotaThe carmaker bets that its vehicles will be worth more than its competitors' models three years down the road, but some industry analysts are skeptical.It's an enticing offer: Lease a well-equipped Toyota Corolla for just $189 a month for three years. Source: L.A. Times - Business | 30 Jul 2010 | 1:00 am Disney agrees to sell Miramax Films to investor group led by Ron TutorThe Los Angeles construction magnate and his partners, including Colony Capital, will pay about $660 million for the studio.After months of negotiations with various buyers that failed to bear fruit, Walt Disney Co. finally reached a deal to sell its Miramax Films unit in a deal that severs the independent movie pioneer's 17-year association with the Burbank studio. Source: L.A. Times - Business | 30 Jul 2010 | 1:00 am Toyota recalls Avalon sedans, Lexus LX 470 SUVsAutomaker cites a steering-system defect in 373,000 Avalons from the 2000-2004 model years. Also, 39,000 of its Lexus LX 470 SUVs from 2003-2007 will be pulled back for an unrelated steering problem. ...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 1:00 am Fixed mortgage rates keep fallingThe average on a 30-year loan drops to 4.54%, while 15-year mortgages are down to 4%, Freddie Mac reports. This marks the sixth straight week of record lows. ...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 1:00 am 'Inception' is expected to hold off three newcomersPre-release audience polling shows the movie about dreams within dreams remaining No. 1 at the box office, fending off new releases 'Dinner for Schmucks,' the 'Cats and Dogs' sequel and 'Charlie St. Cloud...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 1:00 am Is gold dealer using fear to steer buyers into more expensive purchases?Southern California authorities are probing the sales tactics of Santa Monica's Goldline International, a key sponsor of Fox News host Glenn Beck.Standing amid the shiny bling and baubles in his shop in Los Angeles' jewelry district, David Malek said he knows perfectly well why some people have been pouring money into gold. In a word, fear. Source: L.A. Times - Business | 30 Jul 2010 | 1:00 am Disney agrees to sell Miramax Films to investor group led by Ron TutorThe Los Angeles construction magnate and his partners, including Colony Capital, will pay about $660 million for the studio. ...Source: RSS feed - channel BNPaperBusiness | 30 Jul 2010 | 1:00 am PUC moves to loosen rules on shut-offsRegulators make some interim orders permanent and add new protections for struggling consumers. They get extra time to catch up on utility bills and are required to put up reduced or no new deposits to restore service.State regulators Thursday put a brake on actions that the state's biggest utilities can take to shut off electric and natural gas service of residents who fall behind on their bills. Source: L.A. Times - Business | 30 Jul 2010 | 1:00 am Santa Monica Place set to reopen as upscale outdoor shopping venueNordstrom, Bloomingdale's, high-end restaurants and an artisanal food marketplace will anchor the renovated shopping center, which opens next Friday.Since designing Santa Monica Place mall more than three decades ago, Frank Gehry has become a world-renowned architect and Santa Monica has become one of the most lively and thriving beach cities. Source: L.A. Times - Business | 30 Jul 2010 | 1:00 am Charles River calls off $1.6bn WuXi tie-upUS drug research firm has called off a $1.6bn deal to buy Chinese group after its largest shareholders voiced strong opposition to the moveSource: Financial Times - US homepage | 30 Jul 2010 | 12:54 am SEC accuses Dallas investors of insider trading (AP)AP - Sam and Charles Wyly, Dallas billionaire investors known for their support of conservative candidates and causes, made $550 million in undisclosed profits through 13 years of insider trading, according to a Securities and Exchange Commission lawsuit filed Thursday.Source: Yahoo! News: Stock Markets News | 29 Jul 2010 | 9:02 pm Citigroup to pay $75 million to settle SEC charges (Reuters)
Source: Yahoo! News: Stock Markets News | 29 Jul 2010 | 7:46 pm Citigroup paying $75M to settle civil charges (AP)
Source: Yahoo! News: Stock Markets News | 29 Jul 2010 | 6:50 pm SEC charges Wyly brothers with $550 million fraud (Reuters)Reuters - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors.Source: Yahoo! News: Stock Markets News | 29 Jul 2010 | 5:52 pm Write-Offs: 07.29.10$$$ NY Fed: Toxic Assets from AIG, Bear Gaining Value [CNBC] $$$ Lawmakers Call On Six Firms to Claw Back Bonuses [Dealbook] $$$ SEC charges Wyly brothers with $550 million fraud [Reuters] $$$ ‘Long Island Lolita‘ Amy Fisher Starts Porn Company [CNBC] $$$ “This just happened: WFC first year analysts ice BOA associates at local bar.”
Source: Dealbreaker | 29 Jul 2010 | 5:43 pm Citi Futures’ Evans Discusses Energy Markets: Taking StockSource: Bloomberg - All Podcasts | 29 Jul 2010 | 3:20 pm Miller Tabak’s Roth Provides Technical Analysis: Taking StockSource: Bloomberg - All Podcasts | 29 Jul 2010 | 2:44 pm Auerbach’s Grayson on `Frontier Market’ Investing: Taking StockSource: Bloomberg - All Podcasts | 29 Jul 2010 | 2:24 pm FBR’s Miller Discusses Flagstar, BankAtlantic: Taking StockSource: Bloomberg - All Podcasts | 29 Jul 2010 | Source: Dealbreaker | 29 Jul 2010 | 2:05 pm Caption Contest Thursday
Source: Dealbreaker | 29 Jul 2010 | 2:05 pm Fed Watcher Quote Of The Dayby Caitlin Kenney St. Louis Fed President James Bullard is worried about deflation, and he has a new paper out today, that has caught the attention of Fed watchers everywhere. Here's the money quote:
For a quick review of what happened during Japan's "lost decade," listen to our interview with Adam Posen, author of Japan's Financial Crisis and Its Parallels to U.S. Experience. Source: NPR Blogs: Planet Money | 29 Jul 2010 | 2:00 pm Texas Rangers, Visteon: Bloomberg Law Bankruptcy ReviewSource: Bloomberg - All Podcasts | 29 Jul 2010 | 1:34 pm New non-alcoholic downers to get you off the caffeine buzzMarketplace's Caitlan Caroll and a few members of the staff tried to take the edge off with "downer drinks," non-alcoholic beverages that help you relax and unwind.Source: Marketplace | 29 Jul 2010 | 12:38 pm #%*#!!! Swearing in the workplaceKai Ryssdal talks to Jess Sheidlower, editor at large of the Oxford English Dictionary, about profanity in the workplace. It's unpleasant, but why do many workers still swear?Source: Marketplace | 29 Jul 2010 | 12:38 pm Re-building Rwanda, one strong woman at a timeThe Rwandan genocide left behind devastation and a dominantly female population. But the country is making strides economically and politically. All due, in part, to one particular part of the population: Women.Source: Marketplace | 29 Jul 2010 | 12:38 pm Unconventional marketing strategies for the X Games crowdKai Ryssdal speaks with SportsBusiness Journal's Tripp Mickle about Gatorade's unconventional marketing strategy at the X Games to capture an unconventional crowd.Source: Marketplace | 29 Jul 2010 | 12:38 pm Paper shows that credit card users win at the register, not cash usersThe Federal Reserve Bank of Boston released a paper that concluded people who spend cash at the register actually are giving money to people who use credit cards -- especially those with cashback rewards.Source: Marketplace | 29 Jul 2010 | 12:38 pm More people moving out and rentingThere was no boom in the rental market, once the housing market went bust -- but more people are moving out and renting places of their own.Source: Marketplace | 29 Jul 2010 | 12:38 pm The Consumer Financial Protection Bureau, the new kid on the blockTop economics and financial officials met with Timothy Geithner today to discuss the future Consumer Financial Protection Bureau. The new agency will have to overcome old loyalties and resentment from existing regulatory agencies forced to give up their staff and budget.Source: Marketplace | 29 Jul 2010 | 12:38 pm Citigroup Pays $75 Million To Settle Subprime Caseby Caitlin Kenney Citigroup has agreed to pay the SEC $75 million to settle charges that the company misled investors about the amount of its subprime exposure. According to the complaint,
The SEC alleges that Citigroup misled investors by not mentioning two categories of subprime-backed assets: "'super senior' tranches of collateralized debt obligations (CDOs) and 'liquidity puts.'" Here's what Robert Rubin, the former head of Citigroup’s executive committee, said about these "super senior" tranches of CDOs, when he testified before the FCIC in April.
Citigroup agreed to the settlement "without admitting or denying the SEC's allegations." The company's former CFO and head of investor relations have also agreed to pay fines of $100,000, and $80,000, respectively. Source: NPR Blogs: Planet Money | 29 Jul 2010 | 12:30 pm Glenn Beck’s Goldline SchemeBarry Ritholtz at The Big Picture has an entertaining/disturbing infographic about Glenn Beck’s relationship with precious metal investment company Goldline International, and how he manipulates customers. In effect, by buying a numismatic coin through Goldline, customers would instantly lose 42% of their investment, thanks to an insane markup. Infographic by The Big Picture
SB1070 Takes Effect Today. What’s Next?SB1070, Arizona’s controversial immigration law, takes effect today. Although District Court Judge Susan Bolton nixed major portions of the law, including the police mandate to check peoples’ papers, Arizona–and the country–are still reacting. Here’s a media roundup of what’s happening: Reuters has a helpful Factbox on what provisions of the law were blocked, and which will continue. Arizona tourism faces a negative impact. At least 40 groups have canceled meetings or conventions in Arizona since Gov. Jan Brewer signed a new immigration bill, said Kristen Jarnagin, a spokeswoman for the Arizona Hotel & Lodging Association. (CNN) The bill is helping some Republicans solidify their anti-immigration platform; Democrats, meanwhile, are galvanizing their Latino bases. (CBS) This may go all the way up to the Supreme Court. (Wall St. Journal) Mexico is preparing for an influx of fearful Arizona immigrants; others are going to other US states just to be on the safe side. (CS Monitor) It’s worth watching to see how this actually plays out, or if it just ends up as another loud, but ultimately impotent political battle. Source: Business Pundit | 29 Jul 2010 | 11:53 am Chelsea Clinton Wedding Costs Up to $5 mil of…Taxpayer Money?
The Chelsea Clinton-Marc Mezvinsky wedding planned for this Saturday will cost up to an estimated $5 million. The NY Daily News has the breakdown: Tents (with glass walls and climate control): $600,000 Flowers $500,000 Photographer/videographer $40,000 Security $200,000 (this includes shutting down the airspace over the wedding) Music (including sound system) $40,000 Toilets $15,000 “The Clintons would opt, fittingly, for the Presidential Series Luxury Washrooms, which are equipped with vanities for the ladies, sinks with hot water, marble interior, air conditioning, skylights and flushing toilets, plus plenty of paper products and soap,” says Keri Ross at Room To Go, Inc. “They would need three.” Add a male and female attendant in each trailer ($55 per hour), and another trailer for the serving staff ($900). Wedding planner $200,000 Booze $30,000 Food (wedding & afterparty) $125,000 Wedding dress $25,000 If Bill is paying for the wedding, as is customary, does that mean that the wedding is essentially funded by the taxpayer money he collected during his career in public service? Source: Business Pundit | 29 Jul 2010 | 11:18 am
|