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World Business News Headlines for May 26,2012

Tobacco taxes are great, but Proposition 29 stinks

Proposition 29 includes a deal breaker. Raising money for California: Good. Discouraging smoking via a harsh tax: Great. Sequestering the money for a limited purpose: Bad. Really bad.

Yes, our freeways and surface streets are crumbling. But the next time your front wheel hits an enormous pothole, you can remember with pride that California is the world leader in one form of highway maintenance: paving the road to hell with good intentions.


Source: L.A. Times - Business | 27 May 2012 | 1:00 am

Justin Bieber pays $6.5 million for Calabasas home

The 18-year-old pop singer's property includes a 10,000-square-foot main house and a guesthouse, for a total of seven bedrooms and eight bathrooms.

The price that first-time homeowner Justin Bieber paid for his new digs in Calabasas has wended its way into the public record: $6.5 million.


Source: L.A. Times - Business | 27 May 2012 | 1:00 am

Nursery flourished by going native

Tree of Life partners Mike Evans and Jeff Bohn received encouragement and assistance from established growers and ranchers as they focused on cultivating wild plants.

The gig : Mike Evans is the founder of Tree of Life Nursery near San Juan Capistrano, California's largest seller of native plants. Over 30 years, he and business partner Jeff Bohn have become mainstays for natural restoration and landscaping projects. They welcome retail customers as well as a core clientele of commercial landscapers to the cluster of straw-bale offices and barns on historic Rancho Mission Viejo.


Source: L.A. Times - Business | 27 May 2012 | 1:00 am

Disney hopes Cars Land makes California Adventure a golden state

California Adventure has always lagged behind Disneyland, but with a major overhaul, including Cars Land, Disney executives believe it'll catch up.

For more than a decade, Disney California Adventure Park has been putt-putting along in the slow lane, trailing its neighbor Disneyland in the race for big attendance numbers.


Source: L.A. Times - Business | 27 May 2012 | 1:00 am

VIDEO: India's impact on Kuwaiti economy

The number of Indians living in in Kuwait has quadrupled in the past decade to about 650,000 - making them the country's largest non-Arab population.
Source: BBC News - Business | 26 May 2012 | 3:23 pm

NewsWatch: Investors keeping tabs on Greece, jobs picture

The latest figures on U.S. jobs will steal some of next week’s spotlight in the stock market arena, but concerns over Greece’s potential exit from the euro zone will remain the star.
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MarketWatch.com - Top Stories | 26 May 2012 | 3:00 pm

Think Tank: The 'Wonga model' can open the door to new business lending

The uproar over payday lender Wonga's move to offer short-term loans to businesses has turned the spotlight on the growing role of alternative funders in providing much needed finance to SMEs, writes Rachel Bridge.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:45 pm

Explore Learning price tag rises to £50m after private equity interest

Working parents' favourite Explore Learning has increased its price to £50m after a clutch of private equity firms expressed an interest in buying it.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:35 pm

Spain's troubled Bankia set to sell down stake in British Airways owner IAG

Spain's stricken Bankia expects to sell off its vast portfolio in industrial holdings that include a stake in the parent company of British Airways and Iberia.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:35 pm

The case to answer for the Serious Fraud Office

In a terrible week for crime-fighting agency the Serious Fraud Office, the Tchenguiz hearing laid bare its many failings.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:30 pm

A4e 'scandal' prompts scrutiny call

Back-to-work firm A4e and other private businesses paid by the state should be subject to the same scrutiny as listed companies", a leading member of Parliament's spending watchdog committee said.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:30 pm

Whisper it, Vince Cable supports a lot of Beecroft

Despite the controversy of the last week over the Beecroft report, at last we are talking about an important area of reform backed by the overwhelming majority of businesses.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:30 pm

Lloyd's of London preparing for euro collapse

The chief executive of Lloyd's of London has admitted that the world's leading insurance market is prepared for a collapse in the single currency and has reduced its exposure "as much as possible" to the crisis-hit continent.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:30 pm

Jaguar Land Rover set to report record £1.5bn profits

Jaguar Land Rover is likely to confirm the dramatic revival in British car making this week when it unveils record pre-tax profits of more than £1.5bn.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:30 pm

DP World lines up Uniserve for new London Gateway port

DP World, the Dubai-based company building the new £1.5bn London Gateway port on the Thames Estuary, is close to signing up Britain's biggest private freight company Uniserve as a key customer.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:30 pm

Lloyd's of London CEO Ward sets out moves away from risk amid euro fears

Richard Ward, chief executive of the Lloyd's insurance market, has another claim to fame. "Not many people know that I did a lot of the pioneering work looking at the structure of liquid crystals that you now find in televisions," he says.


Source: Finance News - Business news from the UK and world | 26 May 2012 | 2:30 pm

Tax could cost UBS up to 10 percent of Europe assets

ZURICH (Reuters) - UBS AG could see up to 10 percent of its European assets of 300 billion Swiss francs ($312.52 billion) moved out due to pressure to clamp down on untaxed accounts, the head of the wealth management business was quoted as saying on Saturday.


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Reuters: Business News | 26 May 2012 | 2:02 pm

Tax could cost UBS up to 10 percent of Europe assets

People walk behind the logo of Swiss bank UBS in ZurichZURICH (Reuters) - UBS AG could see up to 10 percent of its European assets of 300 billion Swiss francs ($312.52 billion) moved out due to pressure to clamp down on untaxed accounts, the head of the wealth management business was quoted as saying on Saturday. "We have been losing assets in Europe for many quarters, around 10 billion francs to date," Juerg Zeltner told the Finanz und Wirtschaft newspaper in an interview. "And we expect further asset outflows going forward, in the region of 12 to 30 billion francs. That's a bitter pill to swallow. ...



Source: Business News Headlines - Yahoo! News | 26 May 2012 | 2:02 pm

J.P. Morgan ousts prime brokerage head

Ex-Bear Stearns executive Lou Lebedin replaced at unit just two months after being named sole head.
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MarketWatch.com - Top Stories | 26 May 2012 | 1:40 pm

Syrian forces kill 90 in Homs province

U.N. says 32 children are among the dead. Attack is one of the bloodiest in 15-month conflict between President Al-Assad and his people.
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MarketWatch.com - Top Stories | 26 May 2012 | 12:38 pm

J.P. Morgan replaces prime brokerage chief: report

CHICAGO (Reuters) - JPMorgan Chase & Co is replacing Lou Lebedin after keeping him for just two months as the New York bank's sole global prime brokerage chief, Bloomberg News reported, citing unnamed people familiar with the change.


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Reuters: Business News | 26 May 2012 | 12:32 pm

J.P. Morgan replaces prime brokerage chief: report

CHICAGO (Reuters) - JPMorgan Chase & Co is replacing Lou Lebedin after keeping him for just two months as the New York bank's sole global prime brokerage chief, Bloomberg News reported, citing unnamed people familiar with the change. Lebedian, a 54-year old former Bear Stearns executive, had been co-head of JPMorgan's global prime brokerage since 2008, and had run the business solo since March when his London-based co-head was moved to a different role. Lebedin is being replaced by Teresa Heitsenrether, the co-head of JPMorgan's fixed income brokerage since 2008. ...
Source: Business News Headlines - Yahoo! News | 26 May 2012 | 12:32 pm

Minute by minute, Nasdaq chaos engulfed Facebook IPO

For nearly 20 minutes on the morning of Facebook Inc's trading debut last Friday, the line Nasdaq had opened up to keep traders informed about the social media company's $16 billion IPO had been mute. Well after the stock was supposed to have opened at 11 a.m. New York time, no one from Nasdaq was talking - and there was still no sign of trading.


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Reuters: Business News | 26 May 2012 | 12:32 pm

Minute by minute, Nasdaq chaos engulfed Facebook IPO

Monitors show the value of the Facebook, Inc. stock before the closing bell at the NASDAQ Marketsite in New York(Reuters) - Dead silence. For nearly 20 minutes on the morning of Facebook Inc's trading debut last Friday, the line Nasdaq had opened up to keep traders informed about the social media company's $16 billion IPO had been mute. Well after the stock was supposed to have opened at 11 a.m. New York time, no one from Nasdaq was talking - and there was still no sign of trading. Finally, at 11:28 a.m., an unidentified person announced that the shares would open in about 2 minutes. Nasdaq also said orders and cancellations were still being processed, according to several sources listening to the call. ...



Source: Stock Markets News Headlines - Yahoo! News | 26 May 2012 | 12:32 pm

Minute by minute, Nasdaq chaos engulfed Facebook IPO

Monitors show the value of the Facebook, Inc. stock before the closing bell at the NASDAQ Marketsite in New York(Reuters) - Dead silence. For nearly 20 minutes on the morning of Facebook Inc's trading debut last Friday, the line Nasdaq had opened up to keep traders informed about the social media company's $16 billion IPO had been mute. Well after the stock was supposed to have opened at 11 a.m. New York time, no one from Nasdaq was talking - and there was still no sign of trading. Finally, at 11:28 a.m., an unidentified person announced that the shares would open in about 2 minutes. Nasdaq also said orders and cancellations were still being processed, according to several sources listening to the call. ...



Source: Business News Headlines - Yahoo! News | 26 May 2012 | 12:32 pm

Spain's lender Bankia says it won't need more aid

Bankia's president, Jose Ignacio Goirigolzarri, speaks during a press conference at the bank's headquarters in Madrid, Saturday, May 26, 2012. Spain's troubled bank, Bankia, has asked the Spanish government for 19 billion euro ($23.8 billion) in financial support just as a leading credit rating agency downgraded it to junk status. The request came as Standard & Poor's downgraded Bankia and four other Spanish banks to junk status because of uncertainty over restructuring and recapitalization plans. (AP Photo/Antonio Heredia)The president of Bankia tried Saturday to calm fears about the future of the bank, saying Spain's second largest mortgage lender will emerge as a solid financial entity after it receives €23.5 billion ($29.5 billion) in state aid in the country's biggest-ever bank bailout.



Source: Business News Headlines - Yahoo! News | 26 May 2012 | 12:18 pm

Jobless unprepared for realities of workforce

The country's unemployment rate is the highest it has been since 1999, but some employers are struggling to find people willing to take on manual work.Several employers desperately seeking reliable workers say it is as if people...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

Bernard Hickey: Tired formula gives that sinking feeling

Deja vu is a discomforting, frustrating feeling. It's difficult to put your finger exactly on what's wrong and what's new from a repeat.But, on Thursday, sitting in the Budget lockup listening to Bill English, I realised I was hearing...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

Rubbish truck paves green way

A rubbish truck that runs on biogas derived from waste caught the eye of the judges at the Energy Efficiency and Conservation Authority Awards this week.The project - a collaboration between the National Institute of Water and Atmospheric...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

Matt McCarten: Iti's 2 year jail sentence outscores bland Budget

By cleverly calling it the "zero" Budget, Finance Minister Bill English wanted quiet yawning acceptance from us. He succeeded.He got great back-up on Friday morning television from Prime Minister John Key, whose smooth delivery...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

New marketing does the business

A New Zealand company named among the world's most effective social media communicators says the recognition is vindication that its unique way of doing things works.Angus Allan, general manager of Epicurean Dairy Co, in Avondale,...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

Rodney Hide: Blown away by all those zeroes

The dollar numbers that matter in this week's Budget are all in the billions.Total Government spending is $95 billion. Welfare spending is $22 billion. The deficit is $10 billion.A billion rolls off the tongue. Easy. But it never...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

Bach perk cut unlikely to trim value

Changes announced in this year's Budget, cracking down on tax benefits for people who rent their holiday homes a few times a year, will not affect beachside property prices, says Real Estate Institute chief executive Helen O'Sullivan.Until...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

Philip Macalister: Market activity to rise

Kiwi investors are set to flock back to the property market, according to the economic outlook included in this year's Budget, although that is not expected to affect prices dramatically.The pick-up in activity is not just tied...
Source: nzherald.co.nz - Business | 26 May 2012 | 11:30 am

Cartoon: Your move, Key


Source: nzherald.co.nz - Business | 26 May 2012 | 11:29 am

Egyptian election: Islamist vs. ex-Mubarak PM

Hopes for a more liberal Egypt appear threatened after top two in first round of voting are Muslim Brotherhood candidate and former Mubarak official.
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MarketWatch.com - Top Stories | 26 May 2012 | 11:18 am

Syrian forces shell Houla

Fresh calls for international action as violence flares in central Syria
Source: Financial Times - US homepage | 26 May 2012 | 11:16 am

Spain region, Greek exit warnings rattle euro zone

(Reuters) - Central banks and companies risk making a grave error if they do not brace for a possible Greek exit from the euro zone, Belgium's foreign minister said on Friday, rattling markets already alarmed by Spain's deteriorating finances.


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Reuters: Business News | 26 May 2012 | 11:11 am

Austrian finance minister: No to eurobonds

Austria's finance minister is rejecting the idea of introducing jointly issued eurobonds any time soon and says that running up new debts to finance growth is "nonsense."
Source: Business News Headlines - Yahoo! News | 26 May 2012 | 10:40 am

VIDEO: Should GCC push for economic unity?

should Gulf leaders be focussing on getting the basics of economic integration right before looking to the loftier ambitions of full unity?
Source: BBC News - Business | 26 May 2012 | 10:29 am

Summer gas prices - as good as they'll get

As the summer driving season kicks off this holiday weekend, most Americans are enjoying lower gas prices than they might have expected when the spring began.
Source: Business and financial news - CNNMoney.com | 26 May 2012 | 10:08 am

Embittered Facebook investors ponder next move

FILE - In this May 21, 2012 file photo, television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square. To say that Facebook’s debut as a public company was bungled is something like saying Facebook is a website you might have heard of. Either way, it’s a colossal understatement. The response from small-time investors has been equal parts frustration, confusion and anger. Fed up, some are dumping their shares and accepting the losses. Others, while miffed, are holding on and hoping to ride the stock’s eventual success. (AP Photo/Richard Drew, File)To say that Facebook's debut as a public company was bungled is something like saying Facebook is a website you might have heard of.



Source: Business News Headlines - Yahoo! News | 26 May 2012 | 10:07 am

NewsWatch: Investors keeping tabs on Greece, jobs picture

The latest figures on U.S. jobs will steal some of next week’s spotlight in the stock market arena, but concerns over Greece’s potential exit from the euro zone will remain the star.
Source:
MarketWatch.com - Top Stories | 26 May 2012 | 10:00 am

Space: The final frontier for investors?

Analysts and industry officials say that investing in commercial space companies is fraught with risk and may offer little payoff.
Source:
MarketWatch.com - Top Stories | 26 May 2012 | 9:42 am

India wants detailed study on airwaves auction price

NEW DELHI (Reuters) - India's Telecom Commission will ask the sector regulator to analyse the potential impact of a proposed airwaves auction base price that is seen as too high and has drawn protests from carriers. The Commission however endorsed a separate regulatory proposal to auction by June next year airwaves in another band, Telecoms Secretary R.Chandrashekhar said on Saturday. That band currently used by older operators and will be taken back from them in the so-called airwave refarming. ...
Source: Business News Headlines - Yahoo! News | 26 May 2012 | 9:22 am

Spain region, Greek exit warnings rattle euro zone

A Greek flag flies behind a statue to European unity outside the European Parliament in Brussels(Reuters) - Central banks and companies risk making a grave error if they do not brace for a possible Greek exit from the euro zone, Belgium's foreign minister said on Friday, rattling markets already alarmed by Spain's deteriorating finances. Greek elections are scheduled for June 17 and could hasten the country's departure from the currency club should a government intent on ripping up the country's bailout program result. Contrasting findings of opinion polls on Friday showed the outcome is too tight to call. ...



Source: Business News Headlines - Yahoo! News | 26 May 2012 | 9:20 am

Canada's RIM to cut at least 2000 jobs: report

TORONTO (Reuters) - Research In Motion Ltd is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported on Saturday, citing unnamed sources.


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Reuters: Business News | 26 May 2012 | 9:09 am

Canada's RIM to cut at least 2000 jobs: report

A logo of the Blackberry maker's Research in Motion is seen on a building at RIM Technology Park in WaterlooTORONTO (Reuters) - Research In Motion Ltd is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported on Saturday, citing unnamed sources. The Canadian newspaper, citing several people close to the company, reported that the next round is layoffs is said to be planned for around June 1 - a day before the BlackBerry smartphone maker's first quarter ends - but some expect the announcement even earlier. ...



Source: Business News Headlines - Yahoo! News | 26 May 2012 | 9:09 am

Spain's Bankia eyes stake sales after record bailout

MADRID (Reuters) - Spain's fourth biggest lender, Bankia, on Saturday prepared to sell stakes it holds in companies to meet European competition rules after a state rescue that has so far cost 23.5 billion euros ($29.40 billion).


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Reuters: Business News | 26 May 2012 | 9:02 am

Spain's Bankia eyes stake sales after record bailout

A man shouts slogans during a protest outside headquarters of Spain's fourth largest bank Bankia in MadridMADRID (Reuters) - Spain's fourth biggest lender, Bankia, on Saturday prepared to sell stakes it holds in companies to meet European competition rules after a state rescue that has so far cost 23.5 billion euros ($29.40 billion). Bankia's parent company BFA asked for a higher-than-expected 19 billion euros in government help on Friday, in addition to 4.5 billion the state has already pumped in, to cover possible losses on repossessed property, loans and investments. ...



Source: Business News Headlines - Yahoo! News | 26 May 2012 | 9:02 am

VIDEO: Spain's Bankia vows transparency

The head of Spain's fourth-largest bank, Bankia, has promised more transparency, a day after announcing huge losses and asking for a bailout.
Source: BBC News - Business | 26 May 2012 | 8:24 am

Facebook's stock slipped again

Facebook's stock price slipped again on Friday, down 15% from the price of its initial public offering one week ago - a market debut that infuriated investors and prompted a lawsuit.
Source: Business and financial news - CNNMoney.com | 26 May 2012 | 7:18 am

Bankia chairman defends predecessor

Spain has injected more than €33bn into its banks since the beginning of the crisis, about 3 per cent of gross domestic product
Source: Financial Times - US homepage | 26 May 2012 | 7:05 am

NewsWatch: Facebook IPO a ‘missed opportunity’

Bill Hambrecht, Google’s auction banker, says that Facebook and CEO Mark Zuckerberg missed a valuable opportunity, writes John Shinal.
Source:
MarketWatch.com - Top Stories | 26 May 2012 | 7:00 am

Euro parachute drop has no end in sight - The Buzz

Worries about Greece needing to leave the eurozone and bring back its drachma currency have been the main spark for the euro's recent slide.
Source: Business and financial news - CNNMoney.com | 26 May 2012 | 6:55 am

Apple to DOJ: Bite me

The Justice Department may regret trying to make its e-book antitrust suit stick to Apple.
Source: Business and financial news - CNNMoney.com | 26 May 2012 | 6:50 am

Spain's Bankia vows transparency

The head of Spain's fourth-largest bank, Bankia, promises greater transparency after announcing 3bn-euro losses and asking for a state bailout.
Source: BBC News - Business | 26 May 2012 | 5:37 am

Auto Review: 2013 Nissan Altima

Nissan’s redesigned Altima will offer an even stronger challenge to Toyota’s Camry for U.S. car sales dominance, predicts Ron Amadon.
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MarketWatch.com - Top Stories | 26 May 2012 | 5:01 am

EU says China, U.S. also have economic work to do

BRUSSELS (Reuters) - The United States and Japan need to tackle their tax issues and China must relax restrictions on the yuan as they share responsibility with Europe for restoring global economic health, EU leaders said ahead of a June summit of the G20 economies.


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Reuters: Business News | 26 May 2012 | 4:44 am

Nomura linked to another insider trading case: sources

TOKYO (Reuters) - Japan's securities regulator will seek a fine against a fund management arm of Sumitomo Mitsui Trust Holdings for insider trading for the second time and believes an employee of broker Nomura Holdings was again the source of the leak, two people with direct knowledge of the matter said.


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Reuters: Business News | 26 May 2012 | 4:25 am

Market Snapshot: Investors keeping tabs on Greece, jobs picture

The latest figures on U.S. jobs will steal some of next week’s spotlight in the stock market arena, but concerns over Greece’s potential exit from the euro zone will remain the star.
Source:
MarketWatch.com - Top Stories | 26 May 2012 | 3:00 am

JPMorgan board to shake up risk committee - WSJ

A sign is seen outside the JPMorgan office in Los Angeles(Reuters) - The board of JPMorgan Chase & Co is expected to make changes to its risk-policy committee after the bank's trading losses of more than $2 billion, The Wall Street Journal reported on Friday, citing anonymous sources. The board is expected to add either Timothy Flynn or James Bell to the committee, the Journal said. Flynn and Bell have backgrounds in risk and finance, the report said. It was not clear whether any of the current members of the committee would leave it, the Journal said. A JPMorgan spokesman declined to comment on the report. ...



Source: Stock Markets News Headlines - Yahoo! News | 26 May 2012 | 2:51 am

Poland's PGNiG wants to invest $14 billion over 10 years: paper

WARSAW (Reuters) - Polish gas monopoly PGNiG wants to invest about 50 billion zlotys ($14.31 billion) over the next ten years, mainly on a search for new gas and oil sources, the daily Parkiet said on Saturday.


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Reuters: Business News | 26 May 2012 | 2:22 am

Nasdaq chaos engulfed Facebook IPO

(Blank Headline Received)(Reuters) - Dead silence. For nearly 20 minutes on the morning of Facebook Inc's trading debut last Friday, the line Nasdaq had opened up to keep traders informed about the social media company's $16 billion IPO had been mute. Well after the stock was supposed to have opened at 11 a.m. New York time, no one from Nasdaq was talking - and there was still no sign of trading. Finally, at 11:28 a.m., an unidentified person announced that the shares would open in about 2 minutes. Nasdaq also said orders and cancellations were still being processed, according to several sources listening to the call. ...



Source: Stock Markets News Headlines - Yahoo! News | 26 May 2012 | 1:44 am

Apple CEO declines stock dividends worth $75 million

Tim Cook's unusual move to exempt himself from a new compensation program comes as boards of major companies have been scrutinized for approving excessive compensation for their CEOs.

Apple Inc. Chief Executive Tim Cook is saying "no thanks" to stock dividends potentially worth $75 million.


Source: L.A. Times - Business | 26 May 2012 | 1:00 am

Legal fight looms over Dish Network's ad-skipping AutoHop feature

Fox, CBS and NBC have sued Dish Network, saying its AutoHop feature will seriously erode the foundation of their business.

The major broadcast networks' legal skirmish with satellite television service Dish Network over its new ad-skipping device is shaping up to be a titanic struggle with enormous implications.


Source: L.A. Times - Business | 26 May 2012 | 1:00 am

Theme parks' entry prices jump

With added rides and rising crowds, Disney and others are lifting fees to new heights.

Alhambra secretary Laurie Casado struggles each year to buy Disneyland annual passes for herself and her family, so the park's announcement last week that it was jacking up prices by up to 30% wasn't exactly good news.


Source: L.A. Times - Business | 26 May 2012 | 1:00 am

MIT develops ketchup bottle that lets you use every drop

A slick, food-grade coating keeps ketchup, honey, jelly or other contents from getting stuck in the container.

The research institution that brought you the fax machine and GPS has come up with another potentially world-changing invention: a bottle coating so slick that every last bit of ketchup slides out quickly and easily.


Source: L.A. Times - Business | 26 May 2012 | 1:00 am

S&P downgrades credit ratings of five Spanish banks

The ratings firm also said Spain was headed for a double-dip recession.

The outlook for the Spanish banking system worsened sharply Friday when Standard & Poor's slashed the credit ratings of five banks and said the country was headed for a double-dip recession.


Source: L.A. Times - Business | 26 May 2012 | 1:00 am

Lit Motors' C-1: A 2-wheel car? Or untippable motorcycle?

The vehicle developed by Lit Motors uses gyroscopes to stay balanced in a straight line and in turns.

Lit Motors calls it the C-1, but the San Francisco start-up's untippable motorcycle seems nothing short of magic. It uses gyroscopes to stay balanced in a straight line and in turns in which drivers can, in theory, roll down their windows and drag their knuckles on the ground.


Source: L.A. Times - Business | 26 May 2012 | 1:00 am

Chief's new vision for TVNZ

When the Herald revealed before Christmas Ross Dagan was the new head of news and current affairs at TVNZ, the common response was "Ross who?"No TV journos in New Zealand had heard of the man given one of the top journalist roles.The...
Source: nzherald.co.nz - Business | 25 May 2012 | 7:00 pm

TAKE A LOOK-Facebook market makers' losses pile up

May 25 (Reuters) - Four of Wall Street's major market makers involved inFacebook's botched initial public offering last Friday expect theirlosses from technical glitches on Nasdaq's exchange to be around $115 million.
Source: Stock Markets News Headlines - Yahoo! News | 25 May 2012 | 6:34 pm

JPMorgan board to shake up risk committee: WSJ

(Reuters) - The board of JPMorgan Chase & Co is expected to make changes to its risk-policy committee after the bank's trading losses of more than $2 billion, The Wall Street Journal reported on Friday, citing anonymous sources. The board is expected to add either Timothy Flynn or James Bell to the committee, the Journal said. Flynn and Bell have backgrounds in risk and finance, the report said. It was not clear whether any of the current members of the committee would leave it, the Journal said. A JPMorgan spokesman declined to comment on the report. ...
Source: Stock Markets News Headlines - Yahoo! News | 25 May 2012 | 6:31 pm

U.S. data, Europe woes to set tone

NEW YORK (Reuters) - Investors will grapple next week with major U.S. economic reports and the looming possibility of a Greek exit from the euro zone, which is likely to keep dragging on equities for weeks to come.


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Reuters: Business News | 25 May 2012 | 6:23 pm

Regulators eyeing pre-paid cards


Source: Latest Stories on Marketplace.org | 25 May 2012 | 6:11 pm

NASDAQ OMX board elects interim chairman

NEW YORK (Reuters) - Nasdaq OMX said on Friday its board of directors elected Börje Ekholm to serve as the interim chairman of the exchange operator, replacing Furlong Baldwin, who retired. Ekholm, chief executive of Nordic-based industrial holding company Investor AB, Nasdaq's No. 2 shareholder, steps into the position a week after technical glitches at Nasdaq led to a series of problems in Facebook's highly anticipated initial public offering. A software error delayed the social networking company's market debut by 30 minutes last Friday. ...
Source: Stock Markets News Headlines - Yahoo! News | 25 May 2012 | 5:39 pm

NASDAQ OMX board elects interim chairman

NEW YORK (Reuters) - Nasdaq OMX said on Friday its board of directors elected Börje Ekholm to serve as the interim chairman of the exchange operator, replacing Furlong Baldwin, who retired. Ekholm, chief executive of Nordic-based industrial holding company Investor AB, Nasdaq's No. 2 shareholder, steps into the position a week after technical glitches at Nasdaq led to a series of problems in Facebook's highly anticipated initial public offering. A software error delayed the social networking company's market debut by 30 minutes last Friday. ...
Source: Stock Markets News Headlines - Yahoo! News | 25 May 2012 | 5:38 pm

SEC eyes Nasdaq compliance in Facebook debacle

WASHINGTON (Reuters) - Securities regulators are looking into whether Nasdaq violated any technical exchange rules when it botched Facebook Inc's market debut last week, according to people familiar with the matter. The review of potential technical violations is part of the Securities and Exchange Commission's broader look at how Nasdaq handled its part of the initial public offering, including its decision to proceed with trading despite glitches, these people said. The SEC is also reviewing Nasdaq's communications with market participants, one of those people added. ...
Source: Stock Markets News Headlines - Yahoo! News | 25 May 2012 | 5:33 pm

How military spouses hold down the home front


Source: Latest Stories on Marketplace.org | 25 May 2012 | 5:28 pm

After Hours: Chesapeake shares gain, Facebook down after hours

Activist investor Carl Icahn’s fund takes a stake in the oil and gas producer, and shares of Facebook extend losses as the social network wraps up its first week of trading.
Source:
MarketWatch.com - Top Stories | 25 May 2012 | 5:17 pm

45,000 mail handlers get $15,000 buyout offer

The U.S. Postal Service is offering buyouts to 45,000 mail handlers, part of the struggling agency's efforts to shed staff and cut costs.
Source: Business and financial news - CNNMoney.com | 25 May 2012 | 4:12 pm

Weekly Wrap: Spain, and the Facebook IPO


Source: Latest Stories on Marketplace.org | 25 May 2012 | 3:26 pm

Stocks fall on Wall Street as Spanish bank teeters

FILE - In a Dec. 9, 2011 file photo specialist Michael Gagliano, foreground right, works at a post on the floor of the New York Stock Exchange. Wall Street appeared set for a higher open, Friday May 25, 2012 with Dow Jones industrial futures rising 0.2 percent to 12,558 and S&& 500 futures gaining 0.3 percent to 1,326.20. (AP Photo/Richard Drew)Another flare-up in Europe's debt crisis knocked U.S. markets lower Friday. This time, it was more trouble at a major Spanish bank.



Source: Stock Markets News Headlines - Yahoo! News | 25 May 2012 | 3:16 pm

Facebook's market maker losses may top $115 million: sources

Pedestrians walk near the NASDAQ Marketsite at the start of the listing for Facebook in New YorkNEW YORK (Reuters) - Four of Wall Street's major market makers involved in Facebook's botched initial public offering last Friday expect their losses from technical glitches on Nasdaq's exchange to be around $115 million. A software error on Nasdaq OMX Group Inc's U.S. exchange delayed the social networking company's market debut by 30 minutes last Friday. Many client orders were delayed, leading to significant losses to some investors and traders as the stock price dropped. The exchange operator is facing lawsuits from investors and threats of legal action from brokers. ...



Source: Stock Markets News Headlines - Yahoo! News | 25 May 2012 | 3:12 pm

Facebook investors seek compensation


Source: Latest Stories on Marketplace.org | 25 May 2012 | 3:12 pm

Apple's boss rejects $75m payout

Apple's boss, Tim Cook, turns down a payout worth about $75m (£48m) that he was due from the technology giant's upcoming dividend.
Source: BBC News - Business | 25 May 2012 | 3:07 pm

Intel Science Fair winner detects pancreatic cancer early, cheaply


Source: Latest Stories on Marketplace.org | 25 May 2012 | 3:02 pm

Stocks snap three-week losing streak

U.S. stocks fell Friday, but ended higher for the week, as concerns about the debt crisis in Europe weighed on the market ahead of a long weekend.
Source: Business and financial news - CNNMoney.com | 25 May 2012 | 2:47 pm

Icahn Tries To Replace Four Chesapeake Directors

Carl Icahn has used the mess at Chesapeake Energy (NYSE: CHK) to try to take four board seats. Chesapeake’s shares have cratered because of trouble involving the side-by-side investments of its...
Source: 24/7 Wall St. | 25 May 2012 | 2:39 pm

ReMarket Podcast: Finding new angles


Source: Latest Stories on Marketplace.org | 25 May 2012 | 2:28 pm

Small talk: Facebook predictions, traffic down, paying loans in cash


Source: Latest Stories on Marketplace.org | 25 May 2012 | 2:24 pm

Spanish banking woes threaten Europe

The Spanish banking system has taken center stage in the ongoing European debt crisis drama.
Source: Business and financial news - CNNMoney.com | 25 May 2012 | 2:21 pm

Sheila Bair: Break up JPMorgan Chase


Source: Business and financial news - CNNMoney.com | 25 May 2012 | 2:18 pm

Why Is Syria Locked In Endless Conflict?

Listen to the Show

  Syrians chant slogans during an anti-regime protest in Qusayr. AFP/Getty Images

Syrians chant slogans during an anti-regime protest in Qusayr.

The uprisings in Syria, Tunisia, Egypt, Libya and Yemen all started last spring. They've all resulted in regime change — except for the uprising in Syria.

Why is Syria locked in a brutal and seemingly endless conflict? The answer has to do with history, politics, and a growing class of entrepreneurs who are struggling to pick a side. Their decision could turn the tide of the conflict. It could also cost them their lives.

For More, see Adam Davidson's New York Times column, The Syria Paradox.

Music: Beirut's "Nantes." Find us: Twitter/ Facebook/ Spotify/ Tumblr.

Tags: Syria

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Source: Planet Money | 25 May 2012 | 2:18 pm