Business Topics Overviews

Automatically compiled digests of BUSINESS news stories
(originally aggregated by the Google News)

Saturday

Feb-04 -- Unemployment report: January job gains have economists rethinking outlooks
WASHINGTON (Reuters) - An unexpectedly strong jobs report on Friday boosted President Barack Obama's re-election prospects, but the trend must last to deny his opponents the biggest cudgel they have to bash him before the November election.
The U.S. added 243,000 new jobs, higher than Wall Street expectations of about 140,000 and the strongest monthly figure since last spring. More...

Feb-04 -- Dow Logs Highest Close Since May 2008
"The recovery is speeding up."
The Treasury Assistant Secretary for Economic Policy Jan Eberly holds pen-and-pad briefing on January employment data and economic recovery at 1530 GMT. Tyson Foods, the largest U.S. meat processor, is expected to report its earnings per share fell to 34 dollar cents in the first quarter of its fiscal year from 75 cents a year ago, according to a consensus of 16 analysts polled by Thomson Reuters. More...

Feb-04 -- Goldman's Blankfein Awarded $7M in Stock for '11
Blankfein has been granted a $7 million restricted stock award by Goldman Sachs's board as part of his annual salary, a drop in his stock earnings of $12.6 million in 2010, according to regulatory filings.
Stock grants are only one component of compensation. More...

Feb-04 -- American Airlines' plan for pension bailout draws criticism
If American and its unions can't agree on labor cuts, the company could ask a bankruptcy judge to impose changes on workers.
American Airlines and parent AMR Corp. filed for bankruptcy protection in November after posting $11 billion in losses since 2001. More...

Feb-04 -- Swiss bank indictment details tax evasion ploys
It has been summoned to appear in a U.S. District Court in Manhattan, New York 10 February.
The website boasted there that "Swiss bank secrecy is not lifted for tax evasion. More...

Feb-04 -- Shipwreck may hold $3 bln in platinum, Maine seaman says
The Port Nicholson that was sunk by a German U-boat in 1942 with a cargo of 71 tons of platinum now worth about $3 billion.
The cargo, valued in 1942 at about $53 million, was a lend-lease payment to the United States from the Soviet Union. More...

Feb-04 -- New York sues 3 big banks over use of mortgage registry database
Feb. 3 (Bloomberg) -- State attorneys general and lenders including Bank of America Corp. and JPMorgan Chase & Co. agreed to ensure that states signing a nationwide accord on foreclosures will be entitled to improved terms won later by states that opt out, two people familiar with the matter said.
The states have been given until close of the business day Monday to agree to the deal, said Geoff Greenwood, a spokesman for Iowa Attorney General Tom Miller, who has been leading negotiations. More...

Feb-04 -- ECB Said to Consider Ways to Use Bond Holdings in Greek Rescue
In October, the EU, Greece and private creditors agreed to a deal that includes a loss of more than 70 percent for bondholders in a voluntary debt exchange and 130 billion euros in official loans.
The FTSEurofirst 300 index of top European shares turned positive after the data, rising 0.2%. More...

Feb-04 -- Greek debt talks to stretch into weekend
Greece's Finance Minister says the European Central Bank and national central banks should be part of a debt relief deal with the country's private sector creditors that must be concluded by early next week.
Greece and its lenders need to reach agreement on major issues like wages, pensions and the recapitalization of banks on Thursday before Papademos can present the plan to political leaders, the government says. More...

Feb-04 -- Worn Pipes Shut California Reactors
In the latest development-- federal regulators say unusual wear has been found on dozens of new tubes that carry radioactive water at the nuclear plant.
Contractors installing the equipment, shipping personnel and plant staff all have roles to play in the installation and operation of the steam generators. More...

Feb-04 -- Oil up sharply on US jobs surge, Iran
U.S. crude stockpiles have risen sharply for two consecutive weeks, with the latest increase in the week to January 27 of more than 4 million barrels attributed to lower refinery activity and poor demand for gasoline and heating oil.
The Brent-Dubai spread, a measure of North Sea prices versus crudes typically sold in Asia, was at $3.01 yesterday, compared with an average of $5.16 in the past year, according to PVM, which tracks Brent on the ICE Futures Europe exchange and Dubai swaps in the brokered market. More...

Feb-04 -- Harbinger's Main Fund Declined 47% Last Year
LightSquared's main financer, Philip Falcone's hedge fund Harbinger Capital Partners, continues to deny allegations that it tried to bribe a senator into softening an inquiry into its business.
"The decline was primarily due to a conservative adjustment in the fund's holdings of LightSquared, to be consistent with the results of work done by the Fund's third party valuation firm," a Harbinger representative said in a statement. More...

Feb-04 -- Fed Likely to Retain Stance on Low Rates
The comments come a week after a Fed meeting in Washington in which Bernanke left the door open to more stimulus in the form of asset purchases if unemployment remains high and inflation remains subdued.
Seniors cannot live off their interest, will go broke and then what? Interest rates are extremely lowand people cannot buy nomes and aren't because they don't have jobs, money, etc. One thing lowering them for awhile but not for years and years. More...

Feb-04 -- Tyson Foods, BB&T, Gilead, Royal Caribbean, Peet's Coffee are among big market ...
As per the terms of the agreement, BB&T will buy Crump Life Insurance Services and Crump Property & Casualty Insurance Services for $570 million in cash.
John Howard, president and CEO of Crump Group, will join BB&T Insurance operations in a senior leadership position and report to Mr. Reece, BB&T said in the statement. More...

Feb-04 -- Facebook board of directors lacks diversity
As Facebook prepares for its $5 billion IPO later this year, every aspect of the company's business is coming under scrutiny.
The board's makeup is surprising considering Facebook's chief operating officer, Sheryl Sandberg, is an outspoken advocate for gender equality, said Malli Gero, executive director of 2020 Women on Boards. More...

Feb-04 -- Controversial Jobs Report Stokes Bulls: Dave's Daily
Most of the shift of the past year is due not to the improvement in the labor market, but the continued drop in participation in the labor force.
We not only an accelerating jobs trend in January, but the very strong December number was revised upwards. More...

Feb-04 -- Gingrich's Deep Ties to Fannie Mae and Freddie Mac
WASHINGTON — US-owned mortgage giant Freddie Mac is holding billions of dollars in investments that only pay off if homeowners remain locked into high interest rates, a media investigation has found.
Freddie was loading up on these trades, known as inverse floaters, even as it was making it more difficult for homeowners to get out of high-interest mortgages. More...

Feb-04 -- FOREX-Dollar up vs yen on US jobs data, holds steady vs euro
Euro steady as market waits for Greek debt swap deal By Neal Armstrong LONDON, Feb 3 (Reuters) - The dollar hovered near three-month lows against the yen on Friday, keeping alive the threat of intervention by the Japanese authorities with most investors on the edge ahead of U.S. jobs data.
TOKYO: The euro and the Australian dollar were slightly lower in Asia on Friday as a dip in Chinese non-manufacturing data weighed on sentiment ahead of a key jobs report in the United States. More...

Feb-04 -- Panasonic headed for record $10 billion annual loss
TOKYO (Reuters) - Panasonic Corp expects a record net loss of more than 700 billion yen for the year to March, Japanese media said, hit by write-downs for its Sanyo Electric acquisition and restructuring of its ailing TV division.
Panasonic Corp. (6752) almost doubled its annual loss forecast to a record 780 billion yen ($10 billion), the latest Japanese electronics company to predict weaker earnings because of Thailand floods and slowing demand for TVs. More...

Feb-04 -- Rivals swoop in as Hungary's Malev stops flying
On Tuesday the government created a fund of HUF2 billion for the thousands of travelers who would become stranded if the airline ceased operations.
Spanish carrier Spanair ceased operations last Friday, stranding about 22,000 passengers. More...

Friday

Feb-03 -- Unemployment Rate Drops to 8.3%; Payrolls Jump
The unemployment rate is the lowest since February 2009, one month after Obama took office.
Friendly trends can be obliterated by bad shocks--Europe, oil, and especially what economists call "fiscal drag" - austerity or anti-stimulus policies, like cutting spending or failing to renew extended UI benefits, which dampen growth rather than boost it - are still very real downside threats. More...

Feb-03 -- Nasdaq at 11-year high after jobs report
Feb 3, 2012, 10.55PM IST NEW YORK: US stocks rose on Friday, propelling the Nasdaq index to an 11-year high, after January's U.S. employment report sailed past expectations, boosting hopes the world's largest economy has turned a corner.
U.S. stock index futures pointed to a flat open on Wall Street on Thursday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures flat and Nasdaq 100 futures up 0.2 percent at 0945 GMT. More...

Feb-03 -- New York sues banks over foreclosures
Schneiderman, like Beau Biden before him, is suing MERS for deceptive practices.
MERS has filed more than 13,000 foreclosure actions against New York homeowners listing itself as the plaintiff, the lawsuit states, but the entity often lacked legal authority to foreclose and did not own or hold the promissory note despite saying otherwise in court admissions. More...

Feb-03 -- Estee Lauder 2Q Net Up 15% On Improved Sales
The fiscal 2011 second quarter results included returns and charges associated with restructuring activities of $19.3 million ($11.9 million after tax), equal to $.03 per diluted common share.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of 70 cents versus a mean estimate of net income of 60 cents per share. More...

Feb-03 -- Unemployment rate hinges on more than job gains
The employer survey can miss hiring by very small businesses, start-ups and self-employed workers.
Some of that surge in December came as companies rushed to place orders before an investment tax credit expired at the end of last year. More...

Feb-03 -- Stocks Holding On To Strong Gains In Mid-Afternoon Trading - U.S. Commentary
After moving sharply higher in early trading, the major averages remain firmly in positive territory.
The initial strength on Wall Street comes following the release of a report from the Labor Department showing that the U.S. economy added far more jobs than anticipated in the month of January. More...

Feb-03 -- Carlyle Drops Forced Arbitration Clause In IPO
WASHINGTON, February 3, 2012 /PRNewswire via COMTEX/ -- The Carlyle Group today announced that they are withdrawing the forced arbitration clause that was included in its proposed IPO filing to the U.S. Securities and Exchange Commission, in response to pressure from shareholder rights advocates and lawmakers.
The thing that pushes Carlyle's corporate governance structure over the edge is the arbitration requirements. More...

Feb-03 -- BofA's Desoer Will Retire After Helping Guide Mortgage Overhaul
Feb. 3 (Bloomberg) -- Bank of America Corp., the second- biggest U.S. lender by assets, said home loans President Barbara Desoer is retiring after aiding a reorganization under co-Chief Operating Officer David Darnell.
From time to time, we will send you e-mail announcements on new features and special offers from The Wall Street Journal Online. More...

Feb-03 -- OIL FUTURES: Crude Jumps As US Adds More Jobs In Jan
U.S. crude stockpiles have risen sharply for two consecutive weeks, with the latest increase in the week to January 27 of more than 4 million barrels attributed to lower refinery activity and poor demand for gasoline and heating oil.
Officials at BP and Vitol declined to comment on oil shipments. More...

Feb-03 -- Shareholders sue Hecla Mining Co. after Lucky Friday Mine shut down
On January 11, 2012, Hecla announced that the Lucky Friday mine would be closed for up to a year based upon MSHA's order.
COEUR D'ALENE, Idaho -- Some shareholders have sued Hecla Mining Co. for stock losses they endured after the federal government shut down the Lucky Friday Mine for safety violations. More...

Feb-03 -- Hewlett-Packard Details Executive Pay; Whitman Got $16.5M In 2011
SAN FRANCISCO (Dow Jones)--Hewlett-Packard Co. (HPQ) said its new chief executive, Meg Whitman, received total compensation of $16.5 million last year.
HP purchased Palm for $1.2 billion , released a few non-competitive products, decided it didn't want to be in the webOS business and finally decided to open source the platform. More...

Feb-03 -- Obama administration renews offshore wind power push
In a bid to help launch offshore wind power in the United States, the Obama administration said Thursday that it was moving forward to lease four areas off the Mid-Atlantic coast.
The BOEM is publishing the call for information and nominations aimed at industry interest in locations off the Virginia coast for commercial wind energy leases. More...

Feb-03 -- Hungarian National Airline Halts Flights
On Tuesday the government created a fund of HUF2 billion for the thousands of travelers who would become stranded if the airline ceased operations.
DUBLIN (Reuters) - Irish low-cost airline Ryanair announced 26 new routes from Budapest on Friday in a move to capitalise on the grounding of Hungarian airline Malev over unpaid debts. More...

Feb-03 -- Factory Orders Rise, and Jobs Increase in Service Industries
In December, U.S. factory orders rose to a seasonally adjusted 466.2 billion U.S. dollars, following a revised 2.2 percent increase in November.
Excluding a 5.4 percent increase in orders for transportation equipment, orders rose by a more modest 0.6 percent in December. More...

Feb-03 -- Falcone's Harbinger Capital Lost 47% Last Year on LightSquared Venture Bet

Feb-03 -- American looks to grow network while cutting workforce
NEW YORK--AMR Corp., the bankruptcy holdings company for American Airlines, said on Wednesday that it plans to slash 13,000 jobs as part of its restructuring and reorganization to emerge from bankruptcy as a more competitive company.
American Airlines announced yesterday that it wants to get rid of 13,000 workers, or 16% of its work force. More...

Feb-03 -- State Farm plans to hire 3000 employees
State Farm spokeswoman Holly Anderson said the jobs will be mainly in customer service, claims and IT.
Spokeswoman Holly Anderson said the move is part a recruiting campaign to hire 3,000 people for jobs in claims, customer service, IT and underwriting across the U.S. and Canada. More...

Feb-03 -- Video: Be mesmerized by the future of glass
Now Samsung and Corning are forming a joint venture where the two companies will manufacture special OLED glass substrates, which will be made up of Corning's lotus Glass substrates and Samsung's OLED displays.
Corning is a global leader and technology-based corporation that specializes in glass production and innovation. More...

Feb-03 -- ECB tonic buys time for eurozone
Feb. 2 (Bloomberg) -- Irish, Italian, and Belgian bonds are delivering the best returns this year among euro-area debt as a liquidity lifeline from the European Central Bank eases concern that banks will dump their value-impaired government securities.
An oft-repeated phrase over the past two years (yes, that's how long the European debt crisis has been keeping us entertained) is that it's a solvency crisis, not a liquidity crisis. More...

Feb-03 -- Spain approves bank reforms to clean up real estate mess, revive banks and ...
Feb. 2 (Bloomberg) -- Spain will give struggling banks more time to take their share of 50 billion euros ($65.7 billion) in real estate charges if they agree to merge with other lenders.
Banks unable to meet the new provisions to cover troubled holdings will have the option of presenting merger plans to the government by May and could get government assistance from an existing bailout fund that will be strengthened with an addition euro6 billion. More...

Friday

Feb-03 -- European shares hit six-month high ahead of US jobs
LONDON (Reuters) - The top share index edged higher on Friday, bolstered by solid economic data and upbeat corporate reports, but concerns over a possible weak reading from a key U.S. jobs report later in the day kept gains in check.
Sales across the 17-nation single currency area fell 0.4 percent in December from November, well down from the 0.3 percent rise forecast by economists in a Reuters poll. More...

Feb-03 -- Jobless Rate Falls to 3-Year Low in US, Report Shows
The U.S. economy picked up 243,000 jobs in January as the unemployment rate dropped to 8.3 percent, the Labor Department reported on Friday.
The private sector added 257,000 jobs, and 14,000 jobs were lost in the public sector. More...

Feb-03 -- Crude Oil Heads for Weekly Decline Before US Employment Report
U.S. crude stockpiles have risen sharply for two consecutive weeks, with the latest increase in the week to January 27 of more than 4 million barrels attributed to lower refinery activity and poor demand for gasoline and heating oil.
U.S. crude rose by 50 cents to $96.86 a barrel, reversing five straight sessions of losses. More...

Feb-03 -- US Stock Futures Tick Up Ahead Of Closely Watched Jobs Report
U.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.
Stocks rose more than 1 percent in afternoon trading on the first day of February. More...

Feb-03 -- Greek Debt Talks to Resume
Outgoing chief executive Josef Ackermann said private creditors were close to a deal to reduce Greece's debt that would avert a first chaotic default in the euro area.
The focus was now on what additional reforms Athens would have to undertake in return for the new help and how much euro zone governments and institutions would contribute to the effort to make Greek debt sustainable at 120 percent of GDP in 2020. More...

Feb-03 -- Wall Street to Open Higher Ahead of Jobs Report
NEW YORK (CNNMoney) -- Investors are gearing up for a rally following a much stronger than expected report on January job growth.
The January installment of the ISM Services Index is expected to hit 53.1, up from 52.6 in the month prior. Companies : Tyson Foods ( TSN, Fortune 500 ) reported profits better-than-expected earnings and issued slightly upbeat guidance. More...

Feb-03 -- Merged Glencore, Xstrata would take aim at iron ore
The combined company would rank as the world's fourth largest mining group by market capitalisation, behind BHP Billiton, Vale of Brazil and Rio Tinto.
The case for a divorce - the sale of Glencore's 34 percent holding of Xstrata - might be as strong as the case for marriage. More...

Feb-03 -- AMR CEO on US Airways Bid: 'What's in the Water in Phoenix?'
NEW YORK--AMR Corp., the bankruptcy holdings company for American Airlines, said on Wednesday that it plans to slash 13,000 jobs as part of its restructuring and reorganization to emerge from bankruptcy as a more competitive company.
We are going to use the restructuring process to make the necessary changes to meet our challenges head on and capitalize fully on the solid foundation we've put in place.'' More...

Feb-03 -- Deutsche Bank Profit Sinks
The bottom line showed a profit because of 537 million euros in tax benefits taken during the quarter for what the bank said were changes in how deferred tax benefits were accounted for.
"We significantly strengthened our capital base, boosted our liquidity reserves and reinforced our funding position," Ackermann said. More...

Feb-03 -- SEC Is Avoiding Tough Sanctions for Large Banks
WASHINGTON Even as the Securities and Exchange Commission has stepped up its investigations of Wall Street in the past decade, the agency has repeatedly allowed the biggest firms to avoid punishments specifically meant to apply to fraud cases.
Wrangling over waivers is an important part of the negotiations when companies accused of fraud discuss a settlement with the SEC, and sometimes it can involve a form of corporate plea bargaining to a lesser charge. More...

Feb-03 -- Bernanke Won't Tolerate Inflation to Boost Jobs
Holding paper money is looking less and less attractive.
Bernanke called the U.S. economic growth "frustratingly slow," and said the pace has left the economy "vulnerable to shocks." More...

Feb-03 -- RPT-UPDATE 2-Hungary's Malev stops flying as planes held overseas
Over the last years, Hungarian national carrier received various financial aid from the Government up to HUF 100 billion ( 343 million).
Only a staff required for operative management will be kept on board, the rest will be fired, but the exact numbers are not yet known, the receiver said. More...

Feb-03 -- Wegelin charged with aiding tax evasion
It has been summoned to appear in a U.S. District Court in Manhattan, New York 10 February.
The U.S. Department of Justice announced yesterday that it has charged the Swiss based bank with helping U.S. taxpayers hide 1.2 billion dollars in order to avoid taxes on the generated income. More...

Feb-03 -- China's Wen Tamps Down Concerns Over Europe Aid
Chinese Premier Wen Jiabao said China was considering "involving itself more deeply" in efforts to support the euro, state media reported .
In the speech, delivered at the Chinese Academy of Social Sciences, the German leader lauded China for agreeing in principle to carbon emissions in Durban, but also highlighted differences with Beijing on issues ranging from human rights and intellectual property to Iran oil sanctions and U.N. action on the conflict in Syria. More...

Feb-03 -- UBS, Credit Suisse in Swiss Rate-Fixing Probe
The Swiss competition commission said it had received information of possible collusion between derivative traders concerning the London Interbank Offered Rate (Libor) and the Tokyo Interbank Offered Rate (Tibor).
Tibor and Libor rates are based on central bank reference rates and determine the level of interest paid by participating financial institutions on interbank markets in London or Tokyo. More...

Feb-03 -- Treasury rules ease transfer of 401(k) money into annuity
What's at stake is the American value that hard work pays off.
The long wait stemmed from interest in the rule by the White House, people familiar with the matter said. More...

Feb-03 -- Gazprom Says European Natural-Gas Requests 'Wishful Thinking'
MOSCOW/KIEV Feb 2 (Reuters) - Russian gas export monopoly Gazprom on Thursday denied cutting supplies to cold-stricken Europe, pointing the finger at transit nation Ukraine, which in turn said it was taking only as much fuel as agreed in its contract with Moscow.
The company, Russia's largest by market value, reports financial results to international standards months after smaller gas producer OAO Novatek and state-controlled OAO Rosneft. More...

Feb-03 -- Volvo Sticks to 2012 Truck-Market Forecasts as Earnings Rise
Shares in the company rose 2.2 percent to 92.70 kronor on the Stockholm stock exchange, bucking the wider market.
Sales of buses grew 19 percent with 29 percent increase in deliveries, while Volvo Penta's net sales dropped 4 percent due to weak demand for marine and industrial engines. More...

Feb-03 -- BT cheers City as profits rise on broadband growth
LONDON (Reuters) - Britain's former telephone monopoly BT ( BT.L ) managed a small rise in third-quarter core earnings, relying on cost cuts and lower regulatory charges to offset falling sales, with broadband a rare bright spot on the demand side.
The company said labour costs fell by 3% while payments to telecommunications operators fell 15% due to lower call volumes. More...

Feb-03 -- Spain Coaxes Banks to Merge With Extra Time to Purge Losses
Feb. 2 (Bloomberg) -- Spain will give struggling banks more time to take their share of 50 billion euros ($65.7 billion) in real estate charges if they agree to merge with other lenders.
Spain's Finance Minister Luis de Guindos unveiled new rules today designed to sweep worthless property off its banks' balance sheets. More...

Friday

Feb-03 -- Facebook's $100 Billion Question
The stock structure means that founder Mark Zuckerberg controls 57% of the voting shares, giving him near-dictatorial power over the company's future.
"There are more than 2 billion global Internet users, according to an industry source, and we aim to connect all of them," the company said in its S-1 filing with the SEC on Wednesday. More...

Feb-03 -- Glencore and Xstrata close to $88bn deal
LONDON, Feb 2 (Reuters) - Commodities trader Glencore is in talks to buy mining group Xstrata in an all-share transaction that could create a combined group worth more than 50 billion pounds ($79 billion), shaking up the industry with its biggest deal to date.
Xstrata climbed 9.9 per cent, while Glencore rose 6.9 per cent. More...

Feb-03 -- US Justice Department indicts Swiss bank Wegelin
The charges are the latest development in America's crackdown on international tax shelters.
The indictment charges Wegelin with soliciting customers from another Swiss bank, UBS, when that institution agreed to stop hiding secret accounts in 2008. More...

Feb-03 -- Deutsche Bank concerned by offer of ECB loans
The bottom line showed a profit because of 537 million euros in tax benefits taken during the quarter for what the bank said were changes in how deferred tax benefits were accounted for.
At Deutsche Bank's investment banking unit total pay was down 15 percent on 2010 levels at just over 5 billion euros, a steeper drop than the 12 percent fall in net revenues. More...

Feb-03 -- Crude Oil Settles at Six-Week Low
U.S. crude stockpiles have risen sharply for two consecutive weeks, with the latest increase in the week to January 27 of more than 4 million barrels attributed to lower refinery activity and poor demand for gasoline and heating oil.
The price of Forties dropped to 63 cents a barrel less than Dated Brent on Jan. 17, the lowest level since Oct. 24, 2010, according to data compiled by Bloomberg. More...

Feb-03 -- New Treasury Rules Ease 401(k) Annuity Purchase
What's at stake is the American value that hard work pays off.
On Jan. 10, Charles Schwab introduced a new 401(k) product consisting only of inexpensive index funds. More...

Feb-03 -- Stocks End Mixed as Bernanke Touts Stability of US Economy
In testifying before the House Budget Committee, Bernanke said Thursday that the economy had been improving recently -- with consumer spending, manufacturing and job growth up in recent months.
After slashing rates to near zero in late 2008, the Fed bought $US2.3 trillion in bonds in a further effort to spur the economy. More...

Feb-03 -- Nikkei slips before US jobs data, Sony surges
Hitachi jumped as much as 7.5 percent, the biggest intraday gain since March 30, to 429 yen before trading at 428 yen as of 10:41 a.m. on the Tokyo Stock Exchange.
Japanese policymakers are concerned that the yen's persistent strength could further weaken exports and may derail the country's fragile recovery from the damage wrought by last year's earthquake and tsunami. More...

Feb-03 -- Waiting for the number: US stocks little changed ahead of crucial unemployment ...
Drugmaker Merck & Co Inc rose 1.2 percent to $39.10 in premarket trading after the Dow component reported fourth-quarter sales missed expectations and forecast flat full-year results.
U.S. oil inventories rose 4.2 million barrels, according to the U.S. Energy Information Administration. More...

Feb-03 -- Green Mountain Shares Jumped: What You Need to Know
Feb 1 (Reuters) - Green Mountain Coffee Roasters Inc reported quarterly results that blew past analysts' expectations, as increased advertising and efforts to widen distribution spurred strong sales of its Keurig coffee machines.
The 11 analysts polled by S&P Capital IQ foresaw net sales of $1.06 billion. More...

Feb-03 -- Hormel ending tight confinement for pregnant pigs
Mueller became a district manager in 1988 and advanced to director of retail marketing for Dubuque Foods in 1991.
Andrew J. Benson, director, Refrigerated Foods, Sam's -- Walmart, consumer products sales, will assume Althaus' responsibilities as director of the SuperValu business team, consumer products sales, and Randy R. Simonson, customer business manager, consumer products sales, will assume Benson's responsibilities. More...

Feb-03 -- Wynn Macau Profit Misses Analysts' Estimates on Competition
Adjusted property EBITDA in the Chinese territory moved up 5.5% to $313.1 million.
Wynn Resorts Ltd. booked an income tax gain of about $31 million in the latest period when it took back money it had put in reserve; in contrast, it paid out $4.4 million for the line item a year earlier. More...

Feb-03 -- Lax Oversight Blamed in Demise of MF Global
U.S. lawmakers questioned whether MF Global Holding Ltd. (MFGLQ)'s decision to replace Michael Roseman as chief risk officer a year ago was driven by his warnings over bets on European debt that helped push the firm to bankruptcy.
Feb. 2 (Bloomberg) -- U.S. lawmakers questioned whether MF Global Holding Ltd.' s decision to replace Michael Roseman as chief risk officer a year ago was driven by. More...

Feb-03 -- Geithner: Risky Non-Bank Firms to Be Named (video)
Mr. Geithner, speaking a day after President Barack Obama announced a new push for legislation to enable millions more U.S. homeowners to refinance their home loans, said the Treasury Department expects U.S. housing regulators, the Federal Housing Finance Agency and the Federal Housing Administration, to announce steps to remove barriers to refinancing.
"Remember 2008, 2009," Mr. Geithner said. More...

Feb-03 -- China criticizes Iran sanctions as Merkel visits
BEIJING: German Chancellor Angela Merkel said on Thursday that the euro had "made Europe stronger", as she began a visit to China aimed in part at reassuring Beijing that the eurozone debt crisis is under control.
Chinese officials have expressed wariness over investing in government bonds in Europe, though Mr. Wen said China was "firmly confident" in the future of the European economy. More...

Feb-03 -- Administration Fast-Tracks Offshore Wind Farms
In a bid to help launch offshore wind power in the United States, the Obama administration said Thursday that it was moving forward to lease four areas off the Mid-Atlantic coast.
The federal decision means a lengthier environmental impact assessment for offshore power along the mid-Atlantic won't have to be conducted, although reviews for individual projects will still have to be done. More...

Feb-03 -- Europe's Leaders Shouldn't Sacrifice Union to Save Euro: View
Helping the market was the Chinese manufacturing data, with carmakers, which tend to do well when economic growth is strong, among the top performers after the Chinese data gave hope the country would avoid a hard landing.
Decent demand at French and Spanish auctions had little impact, with market players attributing recent successful euro zone debt auctions to the European Central Bank's injection of nearly half a trillion euros of cheap funds. More...

Feb-03 -- Cuomo appointee to police Cuomo administration
NEW YORK STATE -- The pick to run Albany's latest ethics watchdog is Ellen Biben, the State Inspector General and the appointment is raising eyebrows.
A former deputy attorney general, Biben's close ties to Cuomo raised questions about the body's independence. More...

Feb-03 -- Sunoco CEO Elsenhans to Leave After Leading Refining Exit
Oil refiner Sunoco Inc. said Thursday that CEO Lynn Elsenhans is stepping down on March 1 and will be replaced by chief financial officer Brian MacDonald as part of a shift in its business away from refining.
PHILADELPHIA - Sunoco Inc. said Thursday its CEO will step down on March 1 as the company exits the refining business to focus on its pipelines and retail gas stations. More...

Feb-03 -- Viacom Earnings Fall; Nickelodeon Ratings Are Cited
Fiscal Year 2012 Results Quarter Ended December 31, B/(W) 2011 vs. (in millions, except per share amounts) 2011 2010 2010 Revenues $3,952 $3,828 3 % Operating income 1,016 1,040 (2) Net earnings from continuing operations attributable to Viacom 591 620 (5) Diluted EPS from continuing operations $1.06 $1.02 4 % Viacom Inc. /quotes/zigman/7563811 /quotes/nls/via VIA -1.11% /quotes/zigman/7563825 /quotes/nls/viab VIAB -0.60% today reported higher revenues and earnings per share for the fiscal first quarter, ended December 31, 2011.
"Despite some early head winds, Viacom is off to a strong start in 2012," Chief Executive Philippe Dauman said during a conference call with analysts. More...

Thursday

Feb-02 -- 'Like' Facebook stock? Experts weigh in on IPO
With Facebook, you have a very high growth, early stage company that has a profitability model that will be very similar to Google's."
More...

Feb-02 -- Stocks mixed in narrow range
The Dow Jones industrial average ( INDU ) fell 3 points, or less than 0.1%, in midday trading.
More...

Feb-02 -- Deutsche Bank Takes A Licking In Q4, But Shores Up Capital
Hope for a debt deal out of Greece, which faces a crucial bond payment due in mid-March, may have limited the sting of Deutsche Bank's rough numbers Thursday, but more important may have been the bank's ability to fill a sizable capital hole.
More...

Feb-02 -- Corzine Sought 'Yes Man' for MF Global Debt Bet, Lawmakers Say
Congress, the Commodity Futures Trading Commission, Securities and Exchange Commission and Justice Department are investigating events surrounding the collapse of MF Global, including the disappearance of $1.2 billion in customer funds.
MF Global sought bankruptcy protection less than a week after reporting a quarterly loss of $191.6 million for the three months through Sept. 30. More...

Feb-02 -- ECB must be "mobilized" for debt deal: Greek finmin
Technocrat premier Papademos faces the daunting task of rallying reluctant political leaders behind unpopular wage and pension cuts demanded by lenders as the price for bailout money that is essential to averting a chaotic default.
Prime Minister Lucas Papademos still hasn't secured broad political support for yet more austerity - another key condition to clinch a deal and avoid a chaotic default - with a meeting of political leaders yet to be pinned down. More...

Feb-02 -- Dow Chemical posts 4th-qtr loss on tax charge, sees volume weakness in Europe ...
Post Forum members consistently offer thought-provoking, timely comments on politics, national and international affairs.
Europe, which is embroiled in a debt crisis, accounts for a quarter of the company's sales. More...

Thursday

Feb-02 -- Facebook surrenders its privacy in IPO documents
Here are the people and institutions that will benefit the most from Facebook's initial public offering, assuming a $100 billion valuation for the world's largest online social network.
Facebook has been criticized for barging across the boundaries of individual privacy, and there's no doubt the company's ubiquity will require vigilance by civil liberty watchdogs and, if necessary, the federal government. More...

Feb-02 -- European shares steady near six-month high, miners up
Mining stocks were the top gainers, with the STOXX Europe 600 Basic Resources index.SXPP up 2.6 percent, helped by a 10.4 percent jump in mining group Xstrata and a 5.4 percent rise in commodities trader Glencore on talks about an all-share deal that could create a combined group worth more than 50 billion pounds ($79 billion).
Mr Cooper noted that any deal would probably not face regulatory hurdles - the combined company would still only be the worlds fourth-largest miner. More...

Feb-02 -- Merck Swings to Profit on Fewer Charges, Sales Growth
The Whitehouse Station, NJ-based company reported fourth quarter net income of $1.51 billion, or 49 cents per share, compared with a net loss of $531 million, or -17 cents per share, in the year-ago period.
Merck needs to bring successful new drugs to market to help offset the impending loss of patent protection for its top drug, the allergy and. More...

Feb-02 -- Stock Futures Hold Steady After Data
U.S. stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.6 percent, Dow Jones futures up 0.6 percent and Nasdaq 100 futures up 0.4 percent at 0938 GMT. European stocks were up 1.3 percent in morning trade, led by buoyant banking shares such as Societe Generale and UniCredit, helped by renewed expectation of a Greek debt deal and after better-than-expected Chinese data.
For the day, the Dow blue chips were led by American Express, up 2.1 percent, United Technologies, up 1.0 percent and Bank of America, up 0.9 percent. More...

Feb-02 -- Viacom's First-Quarter Profit Drops 65% as Advertising Declines
Fiscal Year 2012 Results Quarter Ended December 31, B/(W) 2011 vs. (in millions, except per share amounts) 2011 2010 2010 Revenues $3,952 $3,828 3 % Operating income 1,016 1,040 (2) Net earnings from continuing operations attributable to Viacom 591 620 (5) Diluted EPS from continuing operations $1.06 $1.02 4 % Viacom Inc. /quotes/zigman/7563811 /quotes/nls/via VIA +0.97% /quotes/zigman/7563825 /quotes/nls/viab VIAB -0.15% today reported higher revenues and earnings per share for the fiscal first quarter, ended December 31, 2011.
Viacom dropped 6.3 percent to $44 at 7:48 a.m. in New York before the opening of the markets. More...

Feb-02 -- Challenger: Job cuts increased in January
That was the largest monthly layoff total since 115,730 job cuts were announced last September, according to job cut report released Thursday by outplacement firm Challenger, Gray & Christmas Inc. The January total was 28 percent higher than the 41,785 job cuts announced in December.
Thursday's report showed employers announced plans in January to hire 7,568 workers, down from 14,074 in December. More...

Feb-02 -- Hong Kong 'locust' ad angers Chinese web users
The China Enterprises Index of the top Chinese listings in Hong Kong was up 2 percent at midday, with the mainland's biggest lender, Industrial and Commercial Bank of China (ICBC) rising 3 percent.
HONG KONG (MarketWatch) - Asian markets were powered on Thursday by commodity and financial stocks after an improvement in manufacturing data buoyed global equities. More...

Feb-02 -- Sara Lee 2Q profit beats Street
DOWNERS GROVE, Ill., Feb 02, 2012 (BUSINESS WIRE) -- Sara Lee Corp. /quotes/zigman/240340 /quotes/nls/sle SLE -0.68% today reported earnings for the second quarter and first half of fiscal 2012 and updated the progress of the spin-off of the company's international Coffee & Tea business.
In the second quarter, adjusted and reported net sales were flat versus the prior year period, as volume declines of 4.9% were offset by a positive mix effect of 1.5% as well as pricing. More...

Feb-02 -- CME establishing fund to protect farmers
In January 2012, CME Group interest rate volume averaged 5.2 million contracts per day, down 2 percent from January 2011, but up 47 percent sequentially.
Revenues amounted to $736.5 million compared with $763.2 million a year earlier, while 17 analysts estimated revenues of $749.44 million for the quarter. More...

Feb-02 -- Wen Raises Prospect of China Aiding European Rescue After Meeting Merkel
BEIJING: German Chancellor Angela Merkel said on Thursday that the euro had "made Europe stronger", as she began a visit to China aimed in part at reassuring Beijing that the eurozone debt crisis is under control.
Premier Wen Jiabao, China's top economic official, repeated pledges of support for Europe, his country's biggest trading partner, but made no financial commitments. More...

Feb-02 -- EU official: Greece needs extra 15 billion, EU looks for help from eurozone ...
In the coming days, the agreements must be completed'' for the bond swap and a second (euro) 130 billion $171 billion) bailout package, government spokesman Pantelis Kapsis said.
Athens - Greece has yet to reach a key agreement with its international lenders on a range of 'thorny issues,' including cuts in the minimum wage and the recapitalisation of banks, a Greek government spokesman said Thursday. More...

Feb-02 -- Chipotle Mexican Grill (CMG) Shares Given New $345.00 Price Target by Analysts ...
The company predicted same-store sales growth would abate in 2012 and reported earnings per share short of expectations in the fourth quarter.
Earnings came in short of Street views by $0.02 on profits of $1.81 per share while revenues climbed by 23.7% and topped forecasts of $591.31 million with actual sales of $596.7 million. More...

Feb-02 -- US futures edge down; data, Bernanke in focus
The chairman's second term is up Jan. 31, 2014.
There used to be a legal competitor issued by the U.S. Treasury. More...

Feb-02 -- TSE's Biggest Glitch Since '06 Casts Shadow Over Osaka Bid
TOKYO (Reuters) - The Nikkei stock average gained for a third day on Thursday, supported by economic data out of the United States and China, in a session that was marred by technical problems that prevented morning trade of some 240 shares and instruments.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished up 4.49 points, or 0.59 percent, at 762.45. More...

Feb-02 -- Shell Sees More Economic Volatility
Oil giant Royal Dutch Shell has reported profits of 28.6 billion U.S. dollars (£18.1 billion) for 2011, a jump of 54% on a year ago.
We declared over $10 billion of dividends in 2011 and we are expecting to return to dividend growth for 2012. More...

Feb-02 -- India court orders licences cancelled in telecom scandal
"We have not funded any of the 2G licence holders," Bank of Baroda Executive Director RK Bakshi said.
Andimuthu Raja, the then telecoms minister and a member of the DMK in UPA government, has been charged with flouting telecoms rules and accepting bribes to favour some firms, and is in jail. More...

Feb-02 -- Deutsche Bank Downbeat as Crisis Dents Profit
Germany's Deutsche Bank saw net profit fall 69% to 186 million euro (£154.5 million) in the fourth quarter as the eurozone debt crisis hit its businesses in investment banking and trading stocks and bonds.
"Current quarter performance was severely impacted by ongoing concerns around the European sovereign crisis and an overall uncertain macroeconomic environment," Deutsche Bank said in a statement. More...

Feb-02 -- 'Pink slime' is not just at McDonald's
Meals from McDonald's will no longer include"pink slime,"an ammonium hydroxide solution used to kill bacteria.
Please enable JavaScript to view the comments powered by Disqus. More...

Feb-02 -- Dow Chemical posts 4Q loss on charge
Revenue rose to $14.1 billion from $13.8 billion.
The company reported a loss of $0.02/share, or earnings of $0.25/share excluding certain items. More...

Feb-02 -- US retailers post mixed sales results for January
ISSAQUAH, WA, Feb 02, 2012 (MARKETWIRE via COMTEX) -- Costco Wholesale Corporation /quotes/zigman/67728 /quotes/nls/cost COST +1.15% today reported net sales of $7.00 billion for the month of January, the four weeks ended January 29, 2012, an increase of 11 percent from $6.30 billion during the similar period last year.
Analysts are expecting sales at stores open at least a year to show a rise of 2 percent in January, compared with a year-earlier increase of 4.8 percent, according to Thomson Reuters data. More...

Thursday

Feb-02 -- Facebook Files to Raise $5B in Biggest Internet IPO
Facebook, whose meteoric rise spawned an Oscar-winning film and captivated Wall Street , today named Morgan Stanley as the lead underwriter on the IPO, while reporting a 24-fold increase in sales over the past four years to $3.71 billion in 2011.
WASHINGTON: After a deep slump that soured many investors on tech stocks last year, Facebook is launching its IPO into a market that looks ready to greet the social networking giant with open arms. More...

Feb-02 -- Wall Street starts February strong on factory data, Greece
U.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.
The Dow climbed as much as 66 points early Tuesday before a reading on U.S. consumer confidence in January sent stocks lower. More...

Feb-02 -- American Airlines to cut 13000 jobs
The union representing American Airlines maintenance workers believes the company is getting ready to shift some of the maintenance worker overseas in a cost-cutting move.
If American and its three unions can't agree on labor cuts, the company could ask a bankruptcy judge in New York to impose changes on workers. More...

Feb-02 -- Nikkei gains but trade hit by glitch; Sharp slides
"The bourse is examining the cause of the system trouble, and we still don't know what led to the failure," an exchange spokeswoman said, adding that trading would resume at the normal afternoon session start of 0330 GMT. The computer glitch caused the failure of a server used to distribute stock data to investors, she said.
According to Thomson Reuters StarMine data, of the Nikkei companies that have reported quarterly figures so far, 61 percent have fallen short of below market expectations, compared with 34 percent of S&P 500.SPX companies. More...

Feb-02 -- Asia Stocks Advance as Manufacturing Expands
Jan. 30 (Bloomberg) -- Asian stocks fell, with a regional benchmark index dropping from a three-month high, ahead of a European summit on the region's debt crisis and after the U.S. economy expanded less than forecast, hurting the earnings outlook for exporters.
South Korea's won gained 0.7 percent to 1,118.9 per dollar. More...

Feb-02 -- Qualcomm Forecast May Top Analysts' Predictions on Phone Demand
Qualcomm, widely known as the main wireless chip supplier for the latest iPhone, was helped by the launch of the blockbuster device late last year, analysts said.
The company's first quarter earnings results came in above Street analysts' expectations. More...

Feb-02 -- Chipotle's Sizzling Stock Stalls After Q4 Profits Disappoint
The company reported a non-GAAP profit of $35.8 million, or 15 cents a share, for the December-ended period on revenue of $413.1 million, beating the average analysts' view for earnings of 10 cents per share on revenue of $390.9 million.
After the bell, Qualcomm ( QCOM ) shares jumped after the company reported earnings. More...

Feb-02 -- Ex-Credit Suisse trader pleads guilty in NY
By PETER LATTMAN and PETER EAVIS John Marshall Mantel for The New York Times David Higgs, one of the accused former traders at Credit Suisse, who pleaded guilty.
The Justice Department has come under criticism for not bringing enough criminal cases connected to companies at the center of the financial crisis. More...

Feb-02 -- US Auto Sales Surge to Highest Levels Since Recession: Cars
U.S. light-vehicle sales accelerated to a 14.2 million seasonally adjusted annualized rate in January, the highest since the August 2009 government trade-in program.
The Japanese automaker moved into positive territory in January after a decline in sales in December, posting a 7.5 percent jump in sales on 124,540 units. More...

Feb-02 -- McDonald's Stopped Using Pink Slime Additive In Burgers
Meals from McDonald's will no longer include"pink slime,"an ammonium hydroxide solution used to kill bacteria.
If you still eat at McDonald's, despite what the commercials insist, the rest of the food will still be of terrible quality, but at least the meat won't be some sort of chemical filled pink goop. More...

Feb-02 -- Corzine Is the Invisible Man
NEW YORK: The former chief risk officer for bankrupt MF Global raised concerns about the firm's aggressive bets on European sovereign debt about three months before the company filed for bankruptcy.
The European debt trades, which eventually reached $6.4 billion, helped lead the firm into filing for bankruptcy last October, leaving $1.2 billion in customer funds missing. More...

Feb-02 -- IATA Says 2011 Was Positive Year For Industry
Global airline passenger traffic rose 5.9 per cent last year despite weak conditions, the International Air Transport Association has said, with 2012 likely to be difficult for the industry.
Failure to achieve a durable solution will have dire consequences for economies around the world. More...

Feb-02 -- Chrysler does the unthinkable make money
Net income of $225 million for the fourth quarter of 2011 was the largest net profit since the company's restructuring, Reuters reported.
Chrysler sold 1.85 million vehicles last year, thanks to higher demand for Jeeps and revamped model lines under the Fiat partnership. More...

Feb-02 -- Changes Weighing on AOL
There was plenty, although all the usual caveats apply: AOL is still losing share of the ad market to fast-growing Facebook and Google , and year-over-year comparisons are skewed by the acquisition of the Huffington Post in February 2011.
CFO Artie Minson warned against putting too much emphasis on the numbers around any individual site in the 863-town network. More...

Feb-02 -- Green Mountain 1Q Net Soars On Higher K-Cup Sales
Referenced brewer shipments do not account for returns.
Net sales from K-Cup portion packs doubled from last year to $715.7 million, while Brewers and Accessories grew 76 percent to $330.4 million. More...

Feb-02 -- Profit Increases, but Revenue Falls at Northrop
Turning to our results, fourth quarter earnings from continuing operations more than doubled to $2.09 per share, and for the year, earnings per share from continuing operations increased 17%, to $7.41.
The company repurchased 11.8 million shares in the fourth quarter and 40.2 million shares in 2011. More...

Feb-02 -- Las Vegas Sands Profit Rises on Asia; $1 Dividend Approved
American depositary receipts of Melco Crown, a casino venture between billionaires Lawrence Ho and James Packer, jumped 6.8 percent to $12.06 by 12:17 p.m. in New York, after earlier climbing as much as 7.9 percent to $12.18, the highest intraday level since Oct. 28.
Operating income for the quarter increased 35.7 percent to $663.3 million from $488.7 million last year. More...

Feb-02 -- PG&E finds more gas lines that weren't checked
While PG&E's plan gives smart meter opponents the option of getting their analog meters back, it's going to cost them: a $75 upfront fee and a monthly charge of $10 and for low income customers, a $10 up front fee and $5 a month.
The CPUC's final decision requires customers who opt-out of the program to pay a $75 initial setup charge and a $10 monthly charge. More...

Feb-02 -- Mexico Blocks Mobile Tie-Up
MEXICO CITY (Reuters) - Mexico's competition watchdog blocked a $1.6 billion telecoms deal that would have linked the empires of two of the country's richest men, sources briefed on the ruling said on Wednesday.
The commission's rejection is a boost for tycoon Carlos Slim, reputedly Mexico's richest man, whose operator America Movil claims around 70 percent of the Mexican cell phone market, as well as 80 percent of land lines. More...

Feb-02 -- One Million Moms to JC Penney: Ellen's Gay -- Fire Her
Ellen DeGeneres, the 54-year old Emmy Award winning comedian and TV talk show host who happens to be a lesbian woman married to another lesbian woman has been attacked by the American Family Association (AFA) for her new role as spokesperson for JC Penny.
NEW YORK (CBSDFW.COM/AP) As J.C. Penney Co. aims to re-invent itself, it's hoping a famous former employee can help out. More...

Wednesday

Feb-01 -- AMR to Trim 13K Jobs in Plan for $2B in Cuts
The parent of American Airlines wants to cut 13,000 jobs, terminate employee pension plans and boost revenue by a $1 billion a year in a bid to emerge from bankruptcy protection as a viable standalone company.
American will cut another $750 million by grounding older planes and striking cost-efficient supplier contracts, and it will make $1 billion worth of revenue improvements through fleet optimization and product improvements. More...

Feb-01 -- Facebook IPO: 'FB' on Nasdaq or NYSE?
The decline in revenues when compared to the third quarter of 2011 is primarily due to reductions in industry trading volumes, partially offset by increases in the average net fee per share matched on NASDAQ's trading system. -- Included in U.S. cash equity trading revenues in the fourth quarter of 2011 are $73 million in SEC Section 31 fees, compared with $92 million in the third quarter of 2011 and $57 million in the fourth quarter of 2010.
For either exchange platform, winning a Facebook listing -- the most anticipated tech IPO since Google went public in 2004 by selling $1.7 billion in stock -- could jump-start an equity market that has been hamstrung by the European fiscal crisis. More...

Feb-01 -- Mortgage Plan Aims at Refinancing
President Obama detailed plans Wednesday to help an estimated 3.5 million homeowners refinance into lower-rate mortgages through the Federal Housing Administration and to turn hundreds of thousands of houses repossessed by lenders into rentals.
I'll be honest -- it didn't work at the scale we'd hoped. More...

Feb-01 -- Stocks Off Highs Ahead of Close; Banks Rally
Broad gains for U.S. stocks as solid economic data around the world boosted investor confidence.
Global stocks looked set for gains on Tuesday, with investors looking beyond problems in Greece and more signs of a European recession and instead embraced an agreement among European leaders to strengthen fiscal ties among nations. More...

Feb-01 -- Niederauer Keeps NYSE Board Support as Deutsche Boerse Backs CEO
"The merger between Deutsche Boerse and NYSE Euronext would have led to a near-monopoly in European financial derivatives worldwide," EU Competition Commissioner Joaquin Almunia said.
Reto Francioni, chief executive of Deutsche Boerse, reacted angrily and argued that the commission had failed to support a "globally competitive" European exchange. More...

Feb-01 -- Treasury May Let Investors Pay to Hold US Debt
In response to clamor from investors, the Treasury said on Wednesday it was looking closely at allowing negative-yield auctions.
The presenting member opened by discussing the demand backdrop for U.S. Treasuries, noting structural declines of high-quality assets over the last five years. More...

Feb-01 -- McDonald's Announces End to 'Pink Slime' in Burgers
The tide could be turning on ammonia.
The purveyors of the Big Mac have decided to discontinue the use of Beef Products, Inc. ingredient, a move that has many crediting British celebrity chef Jamie Oliver. More...

Feb-01 -- SEC charges 4 ex-Credit Suisse traders
NEW YORK (CNNMoney) -- In a case stemming from the mortgage meltdown that led to the financial crisis, two former bond traders have pleaded guilty to charges that they overstated the prices of debt while working at Credit Suisse in 2007 and 2008.
We open the day by hearing about criminal indictments for bond traders. More...

Feb-01 -- Amazon Shares Plunged: What You Need to Know
Analysts were looking for $0.19 in per-share profit on $18.2 billion in sales, so the $0.38 in earnings per share that Amazon reported was significantly better than anticipated.
Margins will be further depressed and it expects to lose anywhere between $200 million and a $100 million profit for the quarter. More...

Feb-01 -- Chrysler, Nissan Drive US Sales Gains as GM Boosts Prices
Chrysler Group, on Wednesday said its U.S. sales rose 44 percent, to 101,149 vehicles in January.
Chrysler, now privately held and majority owned by Italy's Fiat, was the notable standout for the month. More...

Feb-01 -- MF Global customers lose another round
Today, U.S. Bankruptcy Judge Martin Glenn ruled against the "Sapere Motion " in the MF Global Holdings Ltd. (MFGH) bankruptcy proceeding, which would have administered the case pursuant to Commodity Exchange Act bankruptcy rules and given MF Global Inc. (MFGI) customer segregated accounts first priority over the Chapter 11 (MFGH) creditors.
The bankruptcy judge also denied Sapere's request to conduct a new probe into MF Global's collapse. More...

Feb-01 -- US Stocks Gain, Erase Four-Day Decline
Jan. 31 (Bloomberg) -- U.S. stocks fell for a fourth day, the longest losing streak for the Dow Jones Industrial Average since August, while 10-year Treasuries gained as reports showed American consumer confidence trailed estimates and business activity cooled in January.
Economists had been expecting the index to decrease by about 0.4 percent. More...

Feb-01 -- NRC tells Entergy to fix Indian Pt. fire safety
Indian Point Nuclear Power Plant in Buchanan, N.Y. BUCHANAN, N.Y. - A new government report is asking nuclear power plants in the east and central United States to reevaluate seismic risks near their facilities, saying that the new model will likely result in higher anticipated seismic risk than models used since 1980.
More specifically, 8 million New York City residents rely on drinking water sourced near the plant, the highest population in the United States at risk of exposure. More...

Feb-01 -- Chrysler Posts 1st Annual Net Profit Since 1997
Net revenue in the fourth quarter of 2011 grew 41 percent year-to-year to $15.1 billion, but the $424 million increase in income $225 million versus a $191 million loss in Q4 2010 is perhaps most important.
Chrysler also said it was targeting an 18-percent jump to about $65 billion in revenue in 2012. More...

Feb-01 -- European Banks Cut Lending Sharply at End of 2011, ECB Data Show
Despite signs from business surveys on Wednesday that Europe's economy might be perking up, economists say both Britain and the euro zone are afflicted by profound economic weakness that will require further central bank action.
The conditions of the bailout Portugal received from the International Monetary Fund and European Union last year also help explain why the country's own banks aren't ploughing ECB loans into the government bond market. More...

Feb-01 -- AOL Profit Falls Less Than Estimated as Advertising Sales Rise
There was plenty, although all the usual caveats apply: AOL is still losing share of the ad market to fast-growing Facebook and Google , and year-over-year comparisons are skewed by the acquisition of the Huffington Post in February 2011.
AOL reported Wednesday that it earned $22.8 million, or 23 cents a share, in the fourth quarter, compared to $66.2 million, or 61 cents a share, a year earlier, as higher costs and tax provisions hit the company's bottom line. More...

Feb-01 -- MF Global Investigators Said to Trace 90 Percent of Client Money
As the sprawling probe that includes regulators, criminal and congressional investigators, and court-appointed trustees grinds on, the findings so far suggest that a "significant amount" of the money could have "vaporized" as a result of chaotic trading at MF Global during the week before the company's Oct. 31 bankruptcy filing, a person close to the investigation was cited as saying Monday.
At the center of the squabbling are e-mails sent by top executives at MF Global -- communications that have been withheld from federal authorities, according to the people briefed on the matter. More...

Feb-01 -- Amazon stays frustratingly silent on Kindle Fire sales data
"Just when there's a glimmer of margin stabilization, there's the cloud of revenue deceleration."
Operating income decreased 39% to $862 million, compared with $1.41 billion in 2010. More...

Feb-01 -- Whirlpool's Profit Rises 20% on Cost-Cutting
Revenue fell 2.6 percent to $4.91 billion.
The company reported a net loss of $75 million, or 21 cents per share, during the last three months of the 2011 fiscal year, well down from last years profit of $230 million, or 64 cents per share. More...

Feb-01 -- Toyota, Honda sales rise on more car demand; Hyundai climbs
TORRANCE, Calif., Feb. 1, 2012 /PRNewswire via COMTEX/ -- Toyota Motor Sales, U.S., Inc. has announced the debut of an integrated marketing campaign that enables viewers to use the Shazam mobile app to enter for a chance to win one new 2012 Camry for themselves and one for a friend, during a live NBC television broadcast on Sunday, Feb. 5.
Following the broadcast premiere, people can go online and "stretch the story," or dig deeper, by expanding the commercial to view more Camry stories via a unique, interactive video timeline. More...

Wednesday

Feb-01 -- Futures Hold Gains After ADP Jobs Report
Wall Street brokerage Morgan Stanley is expected to lead the offering.
Facebook declined to comment, but Reena Aggarwal, a finance professor who has studied IPOs at Georgetown University's McDonough School of Business, believes the site's founder and CEO Mark Zuckerberg will emulate Google's philosophy, at least in principle. More...

Feb-01 -- Stock futures hold gains after jobs report
U.S. stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.6%, Dow Jones futures up 0.6% and Nasdaq 100 futures up 0.4% at 0938 GMT. European stocks were up 1.3% in morning trade, led by buoyant banking shares such as Societe Generale and UniCredit, helped by renewed expectation of a Greek debt deal and after better-than-expected Chinese data.
Amazon shares traded in Frankfurt were down 6.9 percent. More...

Feb-01 -- EU blocks merger of NY Stock Exchange with Deutsche Boerse
"The merger between Deutsche Boerse and NYSE Euronext would have led to a near-monopoly in European financial derivatives worldwide," the EU's Competition Commissioner Joaquin Almunia said in a statement.
We tried to find a solution, but the remedies offered fell far short of resolving the concerns." More...

Feb-01 -- Private-Sector Gains 170000 Jobs, Boosted by Services
The private sector added 170,000 jobs last month, the ADP National Employment Report showed, shy of economists' expectations for a gain of 185,000 jobs.
"Employment grew in all the major sectors of the economy," Joel Prakken, senior managing director at Macroeconomic Advisers LLC in St. Louis, which produces the data with ADP, said in a statement. More...

Feb-01 -- Chrysler Posts $225 Million Profit, Capping Turnaround
We are proud of the work we've done," said Sergio Marchionne, Chrysler chairman and CEO. "Now we greet a new year of high expectations with our heads down, forging ahead and focused on executing the goals we've set for ourselves as a company."
The automaker, which includes the Chrysler, Dodge and Jeep brands, earned $183 million in 2011, compared with a loss of $652 million in the prior year. More...

Feb-01 -- Global Manufacturing Picks Up as Europe's Slump Eases
Euro zone output did increase, for the first time since July, but new order levels continued to decline across the region suggesting it may be some time before the troubled currency union's economy returns to solid growth.
India's headline PMI has held above the 50 level that separates growth from contraction for almost three years, underlining the sector's resilience in the face of a global downturn and euro area debt crisis. More...

Feb-01 -- Europe Stocks Rise
Investors were positioned for in-line or slightly better-than-expected numbers, with any poor numbers having potential to erase recent gains in equities.
Only Britain and the Czech Republic opted out of signing the new treaty, commonly known as the fiscal compact, which is meant to make it more difficult for countries to run up massive debts, like the ones now roiling the 17-nation eurozone. More...

Feb-01 -- Oil Rises for First Time in Four Days on Signs of China Growth
The United States and the European Union have ramped up sanctions on Iran following a damning UN International Atomic Energy Agency report in November.
Then there is the question of ethics. More...

Feb-01 -- AOL's Profit Slumps 66%
Some goods news though: Wall Street expected greater revenue losses with an EPS closer to 20 cents.
Operating income declines were partially offset by a $13.5 million decrease in depreciation and amortization in Q4 2011 versus Q4 2010 primarily due to a decline in depreciable assets and certain intangible assets becoming fully amortized. More...

Feb-01 -- European Stocks, US Futures Gain on Manufacturing; Bunds Drop
Feb. 1 (Bloomberg) -- European stocks rose, U.S. equity index futures advanced and German bunds fell before a report that may show American manufacturing expanding at the fastest pace since June.
Feb. 1 (Bloomberg) -- Manufacturing probably grew at a faster pace in January, a sign the industry will lead the U.S. expansion early this year, economists said before today's report. More...

Feb-01 -- County's home prices continue long slide
Home values in the Boston area dropped 1.6 percent in November compared with October, according to new data released by the S&P/Case-Shiller Home Price Indices, an index that tracks national real estate data.
NEW YORK, Jan. 31, 2012 /PRNewswire via COMTEX/ -- Data through November 2011, released today by S&P Indices for its S&P/Case-Shiller(1) Home Price Indices, the leading measure of U.S. home prices, showed declines of 1.3% for both the 10- and 20-City Composites in November over October. More...

Feb-01 -- Dassault Aviation's Rafale Is Lowest Bidder in India Jet Fighter Contract
India has selected the French firm Dassault over the Eurofighter consortium as the preferred bidder for 126 fighter jets in a major contract estimated to be worth $US12 billion ($A11.37 billion).
Dassault is still in the running to win a contest in the United Arab Emirates, and remains in talks with Brazil about a contract. More...

Feb-01 -- McDonald's Pink Slime: No Longer Used in Burgers!
Meals from McDonald's will no longer include"pink slime,"an ammonium hydroxide solution used to kill bacteria.
As we've noted before when attempting to make our own Big Macs , the patties used by McDonald's in Australia contain beef and nothing else. More...

Feb-01 -- Roche hopeful for Illumina deal, new products
Feb. 1 (Bloomberg) -- Roche Holding AG, the world's biggest maker of cancer drugs, forecast high single-digit percentage growth in earnings per share this year, disappointing some investors as new products start to contribute to sales.
Once you know the "target" for a personalized cancer drug (like Herceptin) and get it on the FDA-approved label you don't need to know anything else about your patient's genome. More...

Feb-01 -- Fed Outgunning ECB Blunts Currency as Trade Weapon: Euro Credit
FRANKFURT (Reuters) - The European Central Bank kept euro zone interest rates unchanged at a record low of 1.0 percent at its first policy meeting of the year in January.
Data from the European Central Bank showed that loans to the private sector grew at a 1% annual rate in December, down from 1.7% in November and 2.7% in October. More...

Feb-01 -- Portugal gains respite at treasury bill sale
While Italian and Spanish borrowing costs have fallen, Portuguese bonds have come under intense pressure from investors after Standard & Poor's downgraded 15 euro zone countries earlier in January, putting Portugal in the "junk" category.
Weak U.S. economic data and uncertainty about Greece's debt crisis lit up demand for safe investments Tuesday, pushing the benchmark 10-year Treasury yield below its lowest closing level in nearly four months. More...

Feb-01 -- Plosser slams Fed's 2014 low-rate forecast
The increased demand for loans suggests future expansion.
"Domestic banks reportedly experienced stronger demand for (commercial and industrial) loans from firms of all sizes on net," the Fed said. More...

Feb-01 -- Credit Suisse Worker Surrenders to FBI as Prosecutors Said to Plan Charges
The Justice Department has come under criticism for not bringing enough criminal cases connected to companies at the center of the financial crisis.
A man uses his cell phone as he walks past a branch of Swiss bank Credit Suisse in Zurich, January 31, 2012. More...

Feb-01 -- Obama Said to Plan Assistance for Home Mortgage Refinancing
President is expected to announce a fresh bid to revive the housing market Wednesday -- despite likely congressional opposition -- by letting millions of homeowners refinance their mortgages, senior administration officials said.
Obama also is expected to announce a program that would allow the sale of foreclosed homes by Fannie Mae to investors who would then offer the properties for rental. More...

Feb-01 -- Northrop Profit Rises 80%; Annual Forecast Falls
Electronic Systems ($in millions) Fourth Quarter Total Year 2011 2010 % Change 2011 2010 % Change Sales $1,868 $1,873 (0.3%) $7,372 $7,613 (3.2%) Operating income 256 272 (5.9%) 1,070 1,023 4.6% as a % of sales 13.7% 14.5% 14.5% 13.4% Electronic Systems fourth quarter 2011 sales were comparable to the prior year period.
After-tax net pension adjustment per share: The per share impact of the net pension adjustment as defined above, after tax at the statutory rate of 35%, provided for consistency and comparability of 2011 and 2010 financial performance as presented in Table 1. More...

Wednesday

Feb-01 -- Small investors may have chance to get shares of Facebook IPO
Within days, Facebook is expected to file for an initial public offering with the U.S. Securities and Exchange Commission , for the first time doing a public financial strip tease.
Goldman Sachs's value is $55.3 billion and price-earnings ratio is 25.4. More...

Feb-01 -- Tax credit could help low income families
MORE SECURITY NEWS: Has high-tech helped or hurt crime fighting? DOJ wants to know The IRS said auditors also conducted compliance visits to money service businesses in nine locations across the country in the past week.
The Volunteer Income Tax Assistance (VITA) program is helping prepare taxes for those who have incomes of less than $50,000. More...

Feb-01 -- Drop in home prices slows
Home values in the Boston area dropped 1.6 percent in November compared with October, according to new data released by the S&P/Case-Shiller Home Price Indices, an index that tracks national real estate data.
Metro Detroit home prices continued to show year over year gains in November, but continued to fall when looking month-to-month as the area struggled for a rung on the recovery ladder. More...

Feb-01 -- Amazon's Sales Miss Estimates, Profit Drops as Costs Surge
"Just when there's a glimmer of margin stabilization, there's the cloud of revenue deceleration."
Sales rose 35 percent to $17.4 billion, compared with an estimate of $18.3 billion. More...

Feb-01 -- Wall Street ends strong January on flat note
"There are no big surprises," said Kim Caughey Forrest, a senior equity analyst at money manager Fort Capital Group.
2012-2-1 10:10:25 English.news.cn 王佳烨 Dow, S&P post best January gains since 1997 gains January The Dow since percent best points Poors dropped However, stocks pulled back in mid-day trading after a batch of economic data came in worse than expected.　　 More...

Feb-01 -- McDonald's scraps "pink slime" from burgers
The tide could be turning on ammonia.
"This product has been out of our supply chain since August of last year," it said. More...

Feb-01 -- Florida the worst place to lose a job?
Florida has the highest long-term unemployment rate of any state, as 53 percent of unemployed workers in the state have been out of a job for six months or longer, according to Census data.
More than 53 percent of Florida's unemployed residents went six months or more without work last year -- the highest rate in the country, according to a study from the Hamilton Project, run by the Brookings Institute, a D.C. think tank. More...

Feb-01 -- US Plans Charges on Bond Fraud
The Justice Department has come under criticism for not bringing enough criminal cases connected to companies at the center of the financial crisis.
Credit Suisse Group AG (CSGN), Switzerland 's second-largest bank, told New York state regulators it plans to eliminate 109 jobs in Manhattan beginning in March. More...

Feb-01 -- Facebook's COO Comments No Cause for Delay or Alarm
During a career that has spanned Google Inc. (GOOG), McKinsey & Co. and the U.S. Treasury Department, Sandberg has honed what friends, colleagues and former employees say is a penchant for brokering alliances, fostering loyalty and setting priorities.
Jan. 30 (Bloomberg) -- Sheryl Sandberg, chief operating officer of Facebook Inc., discusses the global "ambition gap" for women. More...

Feb-01 -- Freddie Mac Halts Use of Derivatives Tied to High Interest Rates
Securities owned by Freddie fall into two categories.
Florida has one of the country's highest foreclosure rates. More...

Feb-01 -- China Manufacturing Data Mixed in January
BEIJING - China's official statistics institutions plan to publish more economic indices to better show the condition of production activities in both the manufacturing and non-manufacturing sectors.
TEMPE, Ariz., Jan 31, 2012 (BUSINESS WIRE) -- The U.S. Department of Commerce recently completed its annual adjustment to the seasonal factors used in the monthly Institute for Supply Management(TM) (ISM) Manufacturing Report On Business(R) and the monthly Institute for Supply Management(TM) (ISM) Non-Manufacturing Report On Business(R). More...

Feb-01 -- Today's Results Don't Tarnish Dow's Strong Month
Later in the day, the January edition of the Conference Board's Consumer Confidence Index is set for release, as is the Congressional Budget Office's 10-year budget and economic outlook.
The thirty Dow stocks ended up nearly evenly divided in gainers and decliners, with poor quarterly results responsible for the worst performance in the index, that of ExxonMobil ( NYS: XOM ). More...

Feb-01 -- Japanese Market Up Marginally
Of the Nikkei companies that have reported quarterly figures so far, 63 percent have come in below market expectations, according to Thomson Reuters StarMine data.
Advantest, a major manufacturer of chip testers, jumped 8.7 pct to 790 yen after forecasting a small annual profit of 1 billion yen, which some analysts called a significant surprise. More...

Feb-01 -- UPS Beats Profit Forecasts and Expects Strong Growth for '12
The world's largest package delivery company on Tuesday said fourth-quarter net income fell to $725 million, or 74 cents a share, from $1.025 billion, or $1.02 a share, a year ago.
Operating margin improved significantly, and net income of $3.5 billion was 62% higher than 2009. More...

Feb-01 -- Volkswagen, GM announce more jobs for US factories
The new jobs will raise employment levels at the plant there to just over 2,700, including 500 at VW's staffing partner Aerotek.
"We have had good success hiring local people who can work together as a team to build our cars safely and with the highest quality," said Hans-Herbert Jagla, Executive Vice President of Human Resources, Volkswagen Group of America Chattanooga Operations, LLC. "Now, we are excited to have 200 more people join our team." More...

Feb-01 -- US refiners reach deal with union workers to avert strike
Published January 28, 2012 TEXAS CITY -- While expressing optimism the ongoing talks between the major oil refiners and labor unions in the National Oil Bargaining sessions will result in a new three-year agreement, both sides are preparing for the possibility workers could walk off the job as early as next week.
"Negotiations continue," said Emily Oberton, a spokeswoman for Shell, which faces potential strikes at refineries in Texas, Louisiana, Alabama, California that comprise about 1.2 million barrels of processing capacity. More...

Feb-01 -- Dassault to Hold Exclusive Talks on India Order for 126 Fighters
India has selected the French firm Dassault over the Eurofighter consortium as the preferred bidder for 126 fighter jets in a major contract estimated to be worth $US12 billion ($A11.37 billion).
The Rafale will eventually equip six squadrons of the IAF, each authorised 21 fighters. More...

Feb-01 -- Asia Stocks Crawl Higher on China PMI Data
Asian stocks fell, with a regional benchmark index dropping from a three-month high, ahead of a European summit on the region's debt crisis and after the U.S. economy expanded less than forecast, hurting the earnings outlook for exporters.
SINGAPORE: The rupee is headed for its best monthly performance in at least 10 years, leading gains in most of regional peers in January, boosted by inflows into the region's stock and bond markets in the new year. More...

Feb-01 -- Presidents of Fed regional banks for first time disclose financial data statements
The increased demand for loans suggests future expansion.
The resulting loan losses in combination with the banks' higher reserve requirements, of course, resulted in even more bank failures and a further inability of consumers and businesses to get normal loans and credit - further depressing the economy and resulting in even more unemployment, foreclosures, bankruptcies and bank failures. More...

Feb-01 -- Seagate Preps For Drive Shortages Amid Flooding
Income from operations for the quarter nearly tripled to $605 million from $206 million last year.
Wall Street had forecast earnings of $1.08 a share. More...

Tuesday

Jan-31 -- IRS tax fraud crackdown targets identity thieves
The safeguards relate to growing concerns about cyberfraud and crooks who are obtaining refunds by stealing Social Security numbers, creating fake returns, filing 1040s electronically early in the season and obtaining tax refunds.
The IRS will usually direct deposit your tax refund to your bank account within a few days after your return is filed. More...

Jan-31 -- Stocks Fall; January to Remember at Risk
U.S. stocks fell Monday, with the Dow Jones Industrial Average and S&P 500 Index poised to extend their losing streaks to a third-straight session as concerns over Europe's debt crisis intensified following reports that Greece would not accept supervision of its budget decisions as a condition of receiving financial aid.
JPMorgan Chase sank 2 percent, Bank of America 2.8 percent. More...

Jan-31 -- Home prices drop, consumers turn gloomier
Only two of the 20 cities saw price increases over the previous 12 months, with Detroit and Washington D.C. posting annual gains of 3.8 percent and 0.5 percent, respectively.
Patrick Newport, U.S. economist for IHS Global Insight, said that the data indicates that home prices are in decline again after stalling earlier last year. More...

Jan-31 -- Berlin-Athens Tension Grows as Confidence Fades
The EU piled pressure on Athens for a swift conclusion to the debt and bailout talks vital to the country's economic survival, and to the well-being of the entire 17-nation eurozone.
"Surveillance of Greece's progress is normal, but there was never any question of putting Greece under tutelage,'' said French President Nicolas Sarkozy . More...

Jan-31 -- Goodwin stripped of knighthood
Britain's Honors Forfeiture Committee met last week and decided that Goodwin should lose his knighthood for services to banking in the light of the collapse, the Cabinet Office in London said in a statement today.
The Honours Forfeiture Committee said the "scale and severity" of Goodwin's actions while in control of the bank--which is now 83% taxpayer owned--made it an exceptional case. More...

Jan-31 -- Dollar rises after drop in consumer confidence
After two months of great gains, the confidence American consumers have in the U.S. economy retreated, The Conference Board said today.
"Consumer confidence appears to have leveled off, as job growth isn't quite as good and gasoline prices have moved back up." More...

Jan-31 -- Exxon narrowly beats, but production falls short
During the quarter, Exxon Mobil repurchased 69 million common shares at a cost of $5.4 billion, including $5 billion to reduce shares outstanding. Chevron Corp. (CVX) reported that its fourth-quarter earnings declined 3.2%, missing expectations, amid losses at its refining business. ConocoPhillips (COP) said its fourth-quarter profit rose 66% as higher oil prices and asset sales helped offset weak refining results.
Fourth-quarter earnings per share of $1.97 were up 6% from a year ago and two cents better than the Street's consensus estimate.Revenue of $121.6 billion was also up from 2010 and better than expected. More...

Jan-31 -- Tellabs narrows 4Q loss, but will cut 530 jobs
For the first quarter of 2012, Tellabs expects revenues of between $260 million and $290 million, lower than the $297.7 million that financial analysts, on average, had been expecting.
In the fourth quarter of 2011, Growth products generated $170.9 million of revenue compared with $231.4 million in the prior-year quarter. More...

Jan-31 -- Oil prices dip below $99 a barrel
India and China together accounted for 34 percent of Iran's oil exports from January to September of 2011 -- slightly more than Europe, according to International Energy Agency data.
Iranian oil accounts for 9 percent of India's oil consumption and 6 percent of China's, according to the latest data from the IEA. More...

Jan-31 -- US Senate Lawmakers Advance Ban On Fannie, Freddie Bonuses
Securities owned by Freddie fall into two categories.
While I don't disagree with a lot of what you are saying, I think your last statement shows a fundamental misunderstanding of these securities. More...

Jan-31 -- McDonald's scraps controversial beef process
The tide could be turning on ammonia.
The Food and Drug Administration has said the filler is safe, though two other major fast food chains have also reportedly stopped using it. More...

Jan-31 -- Dassault Closes In on India Jet Fighter Deal
NEW DELHI — India has selected the French firm Dassault over the Eurofighter consortium as the preferred bidder for 126 fighter jets in a major contract estimated to be worth $12 billion (nine billion euros).
Dassault won a $1.4 billion contract to upgrade India's Mirage fleet last year. More...

Jan-31 -- Hackers Attack Second Brazilian Bank's Website
SAO PAULO, Jan 31 (Reuters) - Banco Bradesco, Brazil's second-largest private sector bank, hopes to speed up loan disbursements this year as the economy looks set to gain momentum in response to government action.
SAO PAULO -( Dow Jones )- Banco Bradesco SA (BBD) said Tuesday net profit fell to 2.73 billion Brazilian reais ($1.55 billion) from BRL2.99 billion in the fourth quarter as higher expenses due to organic expansion offset an increase in its credit portfolio and financial-service revenue. More...

Jan-31 -- UPS 4th-qtr profit falls on charge, but adjusted profit soars on improving US ...
The world's largest package delivery company on Tuesday said fourth-quarter net income fell to $725 million, or 74 cents a share, from $1.025 billion, or $1.02 a share, a year ago.
The world's largest package delivery company on Tuesday said fourth-quarter net income fell to $725 million, or 74 cents a share, from $1.025 billion, or $1.02 a share, a year ago. More...

Jan-31 -- Apple Names Browett to Lead Retail Business in Global Expansion
CUPERTINO, Calif., Jan 31, 2012 (BUSINESS WIRE) -- Apple(R) today announced that John Browett will join the company as senior vice president of Retail, reporting to Apple CEO Tim Cook.
LONDON (Dow Jones)--Apple Inc. (AAPL) Tuesday named John Browett, chief executive of U.K. high-street store chain Dixons Retail PLC (DXNS.LN), as head of its worldwide retail operations in the first external senior management appointment made by new Apple Chief Executive Tim Cook. More...

Jan-31 -- VC firm Andreessen Horowitz raises $1.5B to invest
Memo to the world from Silicon Valley legend and power-VC Marc Andreessen: "I think that this is more of the theme that software is going to be eating all other industries."
The new fund brings the total amount the partners have raised to $2.7 billion. More...

Jan-31 -- Iran, UN end "constructive" nuclear talks: FARS
The visit came amid a building confrontation between Iran and the West, and speculation that Israel is planning military strikes on Iranian nuclear sites.
IRANIAN students have staged a silent gathering to protest the first visit by UN nuclear inspectors in two years, the semi-official Isna news agency reports. More...

Jan-31 -- Watchdog: Auto insurers overcharging the poor
The Consumer Federation of America charged Monday that the nation's poorest drivers are being charged unfairly high auto insurance premiums because of discriminatory practices and the organization called on state insurance regulators to do something about it.
A consumer group on Monday issued a study that alleges "disparate treatment" of low-to moderate-income families by auto insurers nationwide. More...

Jan-31 -- California Faces Cash Crisis by March, Controller Chiang Says
Controller John Chiang said lawmakers need to scrape together $3.3 billion by March -- assuming the state's financial situation doesn't get any worse.
Chiang said the situation is not as dire as it was in 2009. More...

Jan-31 -- Toy maker Mattel reports positive profits for quarter, year
Strong holiday demand for toys including Barbie and Monster High dolls helped push Mattel Inc.' s fourth-quarter profit up a better-than-expected 14 percent.
The toy company, which is traded on the NASDAQ, has enjoyed a 12.1 percent Year To Date market value increase and has a Market Capitalization of $10.54 billion. More...

Tuesday

Jan-31 -- European shares resume rally
Italy's bonds led gains by the securities of Europe's most-indebted nations after European Union leaders signed a fiscal-discipline treaty, fueling optimism a solution to the debt crisis is getting nearer.
The country with the lowest eurozone unemployment rate is Austria, at 4.1 percent, followed by Holland at 4.9 percent. More...

Jan-31 -- Futures Climb Amid Optimism Over Greece
U.S. stocks fell Monday, with the Dow Jones Industrial Average and S&P 500 Index poised to extend their losing streaks to a third-straight session as concerns over Europe's debt crisis intensified following reports that Greece would not accept supervision of its budget decisions as a condition of receiving financial aid.
Standard & Poor's 500-stock index futures advanced 6 points, or 0.5%, to 1315 and Nasdaq 100 futures rose 10 points, or 0.4%, to 2473. More...

Jan-31 -- A look at how some IPO stocks have fared
The IPO raised $US1.9 billion, including shares sold by early investors and extra stock issued to meet the heavy demand.
Facebook could file as early as next week papers for its much-anticipated initial public offering, which will value the social networking site at up to $100 billion. More...

Jan-31 -- Exxon's Net Edges Higher
Excluding one-time charges, Exxon had been expected to earn $1.98 a share, the average of 18 analysts' estimates compiled by Bloomberg.
The fund is one of the most popular ETFs on the market, with over $8 billion in assets, XLE has been offering exposure to the U.S. energy sector for more than a decade. More...

Jan-31 -- Apple Hires Dixons Chief to Expand Retail Operations
CUPERTINO, California--January 30, 2012--Apple® today announced that John Browett will join the company as senior vice president of Retail, reporting to Apple CEO Tim Cook.
Presumably Mr. Browett interviews really, really well, and perhaps Apple CEO Tim Cook has yet to visit a PC World or Currys (Dixon's face of retail in the U.K.), but the two retail experiences are poles apart. More...

Jan-31 -- Pfizer 4Q net falls by half after generic Lipitor
On average, Wall Street analysts expected a smaller profit of 47 cents per share, on lower revenue of $16.61 billion.
Revenues from animal health unit grew 13 percent to $1.11 billion, and sales from the infant nutrition unit rose 22 percent to $598 million. More...

Jan-31 -- UPS's Net Falls 29% on Pension Accounting Changes
The company expects to deliver healthy revenue and margin expansion, driving earnings per share above the previous peak levels.
The company said a newly applied change in pension accounting to a mark-to-market methodology resulted in charges of $527 million, compared to last year's $75 million. More...

Jan-31 -- Mattel 4th-quarter profit climbs 14 percent on strong holiday demand for ...
EL SEGUNDO, Calif. - Mattel Inc. says strong holiday demand for toys including Barbie, Hot Wheels and American Girl helped push its fourth-quarter net income up 14 per cent.
Impact of Currency (in % pts) -1 -2 1 -2 MATTEL, INC. AND SUBSIDIARIES EXHIBIT III ==================================== =========== CONDENSED CONSOLIDATED BALANCE SHEETS At December 31, 2011 2010 (In millions) (Unaudited) Assets Cash and equivalents $1,369.1 $1,281.1 Accounts receivable, net 1,246.7 1,146.1 Inventories 487.0 463.8 Prepaid expenses and other current assets 340.9 335.6 Total current assets 3,443.7 3,226.6 Property, plant and equipment, net 523.9 484.7 Other noncurrent assets 1,704.0 1,706.4 Total Assets $5,671.6 $5,417.7 ========= =========== Liabilities and Stockholders' Equity Short-term borrowings $8.0 $- Current portion of long-term debt 50.0 250.0 Accounts payable and accrued liabilities 953.8 1,048.5 Income taxes payable 27.1 51.8 Total current liabilities 1,038.9 1,350.3 Long-term debt 1,500.0 950.0 Other noncurrent liabilities 522.1 488.8 Stockholders' equity 2,610.6 2,628.6 Total Liabilities and Stockholders' Equity $5,671.6 $5,417.7 ========= =========== SUPPLEMENTAL BALANCE SHEET AND CASH FLOW DATA (Unaudited) At December 31, (In millions, except days and percentage information) 2011 2010 Key Balance Sheet Data: Accounts Receivable, Net Days of Sales Outstanding (DSO) 52 48 Total Debt Outstanding $1,558.0 $1,200.0 Total Debt-to-Total-Capital Ratio 37.4% 31.3% Year Ended December 31, (In millions) 2011 (a) 2010 Condensed Cash Flow Data: Cash Flows From Operating Activities $665 $528 Cash Flows (Used For) Investing Activities (175) (147) Cash Flows (Used For) Financing Activities and Other (402) (217) Increase in Cash and Equivalents $88 $164 ========= =========== (a) Amounts shown are preliminary estimates. More...

Jan-31 -- Oil above $112 on supply concerns, Greek hopes
Benchmark crude for March delivery was down 42 cents at $99.14 a barrel at midday Kuala Lumpur time in electronic trading on the New York Mercantile Exchange.
LONDON Jan 31 (Reuters) - U.S. crude oil futures rose more than $1 per barrel on Tuesday as concerns over supply from Iran and South Sudan outweighed worries that a global economic slowdown could hit oil demand. More...

Jan-31 -- US mortgage giant bet against homeowners: report
WASHINGTON — US-owned mortgage giant Freddie Mac is holding billions of dollars in investments that only pay off if homeowners remain locked into high interest rates, a media investigation has found.
At a press briefing today, White House spokesman Jay Carney was asked whether Freddie Mac's investment strategy contradicted President Barack Obama's stated commitment to make homeowner refinancing more affordable. More...

Jan-31 -- EU Nations Agree to Treaty on Overspending
At a leaders' summit on Monday, 25 of 27 European Union states agreed to the German-inspired pact that will impose quasi-automatic sanctions on countries that breach EU budget deficit limits and enshrine budget rules in national law.
Surging borrowing costs in Portugal raised the spectre of a second full-fledged contagion crisis in the euro zone. More...

Jan-31 -- Yazaki, Denso to plead guilty in US price-fixing
Two Japanese auto parts suppliers will pay more than a half billion U.S. dollars for price fixing in a vast conspiracy in the U.S. automotive market, the U.S. Justice Department says.
The DoJ alleges that executives of several major Japanese auto parts makers met in secret, sometimes speaking in code, to fix prices on wiring harnesses and other crucial components. More...

Jan-31 -- Santander feels pain of Spanish property hangover
Net income fell to 47 million euros ($61.9 million) from 2.1 billion euros a year earlier, the bank said in a filing to regulators today.
Santander said net customer lending of £4.2 billion was driven by growth in SME loans and mortgages, suggesting that demand for personal loans had been weak. More...

Jan-31 -- US Steel's Loss Narrows on Tubular Unit Strength
Twelve analysts had consensus revenue estimate of $4.73 billion for the quarter.
Sales rose 12 percent to $4.82 billion while shipments declined 1 percent to 5.4 million tons. More...

Jan-31 -- China rare earths safe from WTO ruling on export curbs
January 31, The World Trade Organization says China unfairly limited exports of raw materials to protect domestic manufacturers, upholding complaints by some of the world's second-largest economy's main trading partners.
China actually has only 30% of the globe's rare earth metals sources. More...

Jan-31 -- ADM Profit Misses Estimates After Corn Costs Rise, Oilseed Earnings Fall
Archer Daniels Midland Company /quotes/zigman/218265 /quotes/nls/adm ADM -0.37% today reported financial results for the quarter ended Dec. 31, 2011.
The corn processing unit fell to a $133m loss, compared with a $399 profit a year before, hurt by the $339m bioplastics charge and the impact of elevated costs of the grain. More...

Jan-31 -- Exxon reports $9.4 billion profit
ExxonMobil has a 22 per cent stake in TonenGeneral.
TonenGeneral will buy 99 per cent of ExxonMobil Yugen Kaisha, a Japanese unit that mainly engages in refining and retail sales, the Tokyo-based company said yesterday in a statement. More...

Jan-31 -- McGraw-Hill Fourth-Quarter Profit Rises on Media Business
Excluding the fourth quarter restructuring charge, adjusted operating profit declined by 1% to $354 million from the prior year's adjusted results, which excluded a $4 million gain on the sale of a secondary school business in Australia.
Excluded in 2010 from fourth quarter earnings per share were restructuring and lease impairment charges of $27 million. More...

Jan-31 -- Small business hiring slows, wages dip in January
The Intuit Small Business Employment Index is based on aggregate and anonymous online employment data from approximately 70,000 small business employers, each with fewer than 20 employees.
Like a broken record, the situation across the pond is once again weighing on U.S. financial markets. More...

Jan-31 -- India Said to Pick Dassault in Fighter Jet Contest With Low Bid
French firm Dassault has won a multi-billion dollar contract to provide 126 fighter jets to the Indian military, the reports claimed, citing unnamed sources.
The deal would be a huge shot in the arm for Dassault, which has struggled to find a foreign buyer for the multi-role Rafale, billed as one of the most effective fighters in the world but also one of the most expensive. More...

Tuesday

Jan-31 -- EU Nears Confrontation Over Greek Rescue as Portugal Poses Looming Threat
While Italian and Spanish borrowing costs have fallen, Portuguese bonds have come under intense pressure from investors after Standard & Poor's downgraded 15 euro zone countries earlier in January, putting Portugal in the "junk" category.
The 10 sub-indexes were equally split, with materials (down 1.08%) leading the decliners. More...

Jan-31 -- In Facebook IPO, bankers seek prestige over fees
According to Bloomberg , which cites two anonymous sources familiar with the plans, Facebook's much-anticipated IPO filing could be landing within the next few days.
The IPO timing is totally suspect, they're hurrying to CASH OUT, just as the Google Search Engine, which get far more traffic than facebook, is being integrated with a far more OPEN and better facebook clone. More...

Jan-31 -- Trade Protest Is Planned on Eve of a Chinese Leader's Visit
U.S. Trade Representative Ron Kirk called the Appellate Body report a "tremendous victory," particularly for manufacturers and workers.
The Chinese government, which supplies 95 percent of global rare earths, said on Dec. 28 it was leaving the 2012 overseas sales caps virtually unchanged. More...

Jan-31 -- First Starbucks Store to Open in India by August
Tata Global Beverages and Starbucks Coffee Company have decided to forge a 50:50 joint venture company Tata Starbucks Ltd to launch branded cafes under the name of Starbucks Coffee 'A Tata Alliance'.
Along with opening new coffee shops, the joint venture will also facilitate the creation of a tea for Indian consumers. More...

Jan-31 -- Tough new eurozone treaty proposes to cap deficits
BRUSSELS - A total of 25 European Union (EU) member states would join and sign a new fiscal treaty designed to enshrine tighter deficit and debt discipline, European Council President Herman Van Rompuy said here late on Monday.
Prime Minister David Cameron said further reforms were still needed by eurozone states to end the debt crisis in the region. More...

Jan-31 -- European leaders adopt treaty pledging debt reduction
Europe must be a political union, where the European Commission looks more like a government, the European Parliament is stronger and the Council (where member states' leaders are presented) is a kind of its second chamber, and the EU Court of Justice is the supreme court with powers to supervise the implementation of public budgets in individual countries.
Depending on whom you ask, talks over Greek debt restructuring are either progressing nicely -- or threatening the continent. More...

Jan-31 -- Banks set to double crisis loans from ECB
In retrospect, Washington's hot money, however, was only the first act in the ongoing crisis.
After last year's international summits failed to produce a "big bazooka" to end the crisis, Europe has at least moved to expand its crisis funds, and on two key fronts. More...

Jan-31 -- FTC Fines a Collector of Debt $2.5 Million
WASHINGTON (Reuters) - Asset Acceptance LLC, a major U.S. buyer of consumer debt, agreed to pay a $2.5 million civil penalty to settle charges that it used deceptive collection practices, the Federal Trade Commission and Justice Department said on Monday.
Consent decrees have the force of law when signed by the District Court judge. More...

Jan-31 -- Pep Boys auto parts chain agrees to sell itself to Gores Group
What: Shares of Pep Boys ( NYS: PBY ) zoomed 23% higher on Monday after private equity firm Gores Group said it would acquire the auto parts retailer for about $1 billion.
News of the acquisition sent the Philadelphia company's shares up $2.77, or 22.9 percent, to $14.85 in morning trading on Monday. More...

Jan-31 -- Nikkei heads for best January performance since 1999
Japan's Nikkei average declined for a third straight session on Monday, hit by a slide in Mitsubishi Electric shares after the government suspended dealings with the firm.
Sony lost 1.8 percent to 1,388 yen. More...

Jan-31 -- Treasury Investigates Freddie Mac Investment
The short-sale restriction may be a good example.
According to NPR/ProPublica's review of public documents, Freddie Mac invested in securities called "inverse floaters," which receive all the interest payments from specified mortgage-backed securities. More...

Jan-31 -- GOP Wants To Abolish State Income Taxes
Former Oklahoma Treasurer Scott Meacham, a Democrat who helped negotiate a series of small income tax cuts, urged state leaders to be careful tinkering with the state's economy, which is currently enjoying double-digit revenue growth and has one of the 10 lowest unemployment rates in the country.
A graduated income tax is widely viewed as the most equitable because it is based on one's ability to pay. More...

Jan-31 -- Oil & Gas Paradigm Shift: Exxon Sells Japanese Downstream Assets For $3.9B
ExxonMobil has a 22 per cent stake in TonenGeneral.
TonenGeneral will buy 99 per cent of ExxonMobil Yugen Kaisha, a Japanese unit that mainly engages in refining and retail sales, the Tokyo-based company said yesterday in a statement. More...

Jan-31 -- Asian Stocks Advance on Greek Debt Deal Talks
Asian stocks fell, with a regional benchmark index dropping from a three-month high, ahead of a European summit on the region's debt crisis and after the U.S. economy expanded less than forecast, hurting the earnings outlook for exporters.
The FTSE CNBC Asia 100 Index, which measures markets across Asia, climbed 0.6 percent. More...

Jan-31 -- Intuit: Small business adds 50000 jobs in January
The Intuit Small Business Employment Index is based on aggregate and anonymous online employment data from about 70,000 small business employers, a subset of businesses that use Intuit Online Payroll, each with fewer than 20 employees.
Click here to find out what's going on in your city. More...

Jan-31 -- Fed Survey: Euro Crisis Has Hurt US Loans
WASHINGTON: More than two-thirds of banks in a Federal Reserve survey of senior loan officers said they had tightened credit to European financial firms in January, underscoring the continent's severe banking crisis.
Banks in the U.S. started to tighten credit in the second half of 2011 as Europe's debt crisis worsened, following seven quarters of easier standards on business loans. More...

Jan-31 -- Japan's industrial output rebounds 4 percent, household spending edges higher
Output in the transport equipment industry increased 12.3 percent in December, the largest gain since June, according to the trade ministry.
Jan. 31 (Bloomberg) -- Japan's industrial output increased the most in seven months in December as manufacturers made up for disruptions caused by Thailand's worst floods in 70 years. More...

Jan-31 -- Rising Income Is Saved, Not Spent
The government said on Friday that consumer spending grew at a 2 percent annual pace in the fourth quarter, a pick-up from the third quarter's 1.8 percent rate, which helped lift gross domestic product by 2.8 percent.
The savings rate, meanwhile, rose to $460.1 billion, or 4% of disposable personal income the highest rate in four months and the largest monthly leap since April 2010. More...

Jan-31 -- Yen Near 3-Month High Amid Europe Economy Concern; Kiwi Gains
A deal that would cut the long-term value of privately held Greek bonds by just over 70 percent is thought to be nearing, raising hopes the country at the heart of the euro-zone debt crisis can avoid a messy default.
Sterling fell against the dollar on Monday, tracking falls in the euro versus the dollar, after a run of gains that have taken it above $1.57 from below $1.54 in mid-January. More...

Jan-31 -- Federal work pays better, government study finds
On average, the CBO discovered that the federal government pays about 2 percent more in total wages and about 16 percent more when the employer-provided benefits are factored in, comparing workers with similar occupations and backgrounds.
Regarding benefits: "On average for workers at all levels of education, the cost of hourly benefits was 48 percent higher for federal civilian employees than for private-sector employees with certain similar observable characteristics, CBO estimates." More...

Monday

Jan-30 -- The Cars Facebook's New Millionaires Should Buy
The IPO raised $1.9 billion, including shares sold by early investors and extra stock issued to meet the heavy demand.
Just a year ago, when Goldman Sachs and others invested $1.5 billion into Facebook, the company, Google's top online ad rival, was valued at approximately $50 billion. More...

Jan-30 -- European Budget Deal Near, but Much Left Undone
Jan. 30 (Bloomberg) -- European Union leaders gather for their first summit of 2012 as a deteriorating economy and the struggle to complete a Greek debt writeoff risk sidetracking efforts to stamp out the financial crisis.
The advance pushed the yield to the lowest since Jan. 18 after data showed European economic confidence improved less than economists forecast. More...

Jan-30 -- Stocks slip as investors wait for Greece, EU
Without the deal, which would reduce Greece's debt load by at least euro120 billion, the bonds held by banks, insurance companies and hedge funds would likely become worthless.
Many investors -- banks, insurance companies and hedge funds -- who hold Greek bonds also hold debt from other countries that use the euro, which could lose value if there is a full-fledged Greek default. More...

Jan-30 -- Fed Survey Finds Banks Still Cautious to Lend
More than two thirds of banks in a Federal Reserve survey of senior loan officers said they had tightened credit to European financial firms in January, underscoring the continent's severe banking crisis.
Economic growth accelerated last quarter to a 2.8 percent annual rate, the fastest pace since the second quarter of 2010. More...

Jan-30 -- Pep Boys Agrees to Be Acquired by Gores Group for $15 a Share
What: Shares of Pep Boys ( NYS: PBY ) zoomed 23% higher on Monday after private equity firm Gores Group said it would acquire the auto parts retailer for about $1 billion.
Bank of America Corp. provided financial advice to Pep Boys, as well as a fairness opinion to the board. More...

Jan-30 -- Two auto parts suppliers fined $548M for price-fixing
The Justice Department has previously settled with Tokyo-based Furukawa Electric Co, which agreed to plead guilty and pay a $200 million fine for price-fixing in the same probe.
Washington - Two Japanese auto suppliers and four executives will plead guilty and pay a total of $548 million in criminal fines for their involvement in multiple price-fixing and bid-rigging conspiracies, the Justice Department said Monday. More...

Jan-30 -- US Consumer Spending Stalls as Savings Rise
The government said on Friday that consumer spending grew at a 2 percent annual pace in the fourth quarter, a pick-up from the third quarter's 1.8 percent rate, which helped lift gross domestic product by 2.8 percent.
For the full year, the data showed rising incomes and spending as the economy managed a tepid recovery from the 2008-2009 economic meltdown. More...

Jan-30 -- WTO Rejects Chinese Appeal of Ruling Against Mineral Curbs
U.S. Trade Representative Ron Kirk called the Appellate Body report a "tremendous victory," particularly for manufacturers and workers.
The need for re-alignment and re-balancing, particularly in the wake of the financial crisis, and the troubles plaguing Britain's largest trading partner, the EU, has been recognised by Britain itself. More...

Jan-30 -- Why the Dow Is Down Today
Stocks pared their losses in early afternoon trading Monday as investors weighed weak U.S. personal spending and continued concerns about Europe's debt crisis The Nasdaq fell 0.4%, the S&P 500 0.7% and the Dow Jones industrial average 0.7%.
Industrials appear poised to drive the Dow higher in 2012. More...

Jan-30 -- Oil & Gas Paradigm Shift: Exxon Sells Japanese Downstream Assets For $3.9B
ExxonMobil has a 22 per cent stake in TonenGeneral.
ExxonMobil, the largest publicly traded international oil and natural gas company, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. More...

Jan-30 -- IAEA Trip Helps 'New' Climate, Team May Stay Longer, Iran Says
Iran's enrichment site at Fordo near the Iranian city of Qom, for instance, is shielded by about 300 feet (90 meters) of rock.
Iran is the world's most active state sponsor of international terrorism, denies Israel's right to exist and refuses to back down from an atomic program that, by any reasonable assessment, aims to provide Iran with nuclear weapons and significantly alter the tenuous balance of power in the Middle East. More...

Jan-30 -- With Spirits Sales on the Rise, a Thirst Grows for New Products
U.S. sales of spirits rose 2.7 percent in 2011, an industry trade group said on Monday, citing new products and consumers' thirst for high-end libations such as super-premium vodka.
The value of whiskey exports expanded 13.6 percent , the council said. More...

Jan-30 -- Intuit: Small business adds 50000 jobs in January
The Intuit Small Business Employment Index is based on aggregate and anonymous online employment data from about 70,000 small business employers, a subset of businesses that use Intuit Online Payroll, each with fewer than 20 employees.
I told you last year to keep an eye on English golfer Robert Rock. More...

Jan-30 -- Asset Acceptance Unit to Pay $2.5 Million in FTC Settlement
WASHINGTON (Reuters) - Asset Acceptance LLC, a major U.S. buyer of consumer debt, agreed to pay a $2.5 million civil penalty to settle charges that it used deceptive collection practices, the Federal Trade Commission and Justice Department said on Monday.
Asset must now conduct a reasonable investigation into the legitimacy of a debt when it becomes aware of a consumer dispute or if the company who sold a debt to Asset provided unreliable information about the original debt. More...

Jan-30 -- Walgreen Co. buying prescription files from 33 Kmart stores
Walgreens (NYSE:WAG) announced a definitive agreement in which the company will acquire the prescription files and inventory from 33 Kmart (NASDAQ:SHLD) pharmacies in 16 states.
Walgreen runs 7,818 stores in all 50 states, Washington, D.C., and Puerto Rico. More...

Jan-30 -- Freddie Mac Bets Against American Homeowners
In addition to being an instrument of government policy dedicated to making home loans more accessible, Freddie also has giant investment portfolios and could lose substantial amounts of money if too many borrowers refinance.
The company invested in security packages that meant more cash for Freddie when homeowners couldn't refinance their mortgages. More...

Jan-30 -- Sudan frees South Sudan's oil tankers but row continues
JUBA, South Sudan -- The World Food Program estimates that as many as a half million people could be forced to flee Sudan if the government in Khartoum does not allow humanitarian aid into the country, while a top U.S. official said Monday that a humanitarian crisis is looming.
Warrap lies just south of the oil-rich Abyei area, one of several regions at the heart of a dispute between Khartoum and South Sudan. More...

Jan-30 -- US HOT STOCKS: Gannett, US Steel, Thomas & Betts, PharMerica
ABB's Chief Executive Joe Hogan said the acquisition would open up a potential U.S. market for low-voltage products of about $24 billion for ABB's most profitable product range.
Shares in ABB, which makes equipment for oil, gas and utility companies, were down 2.16 percent at 19.01 Swiss francs, underperforming a 1.3 percent European Industrial Goods and Services sector. More...

Jan-30 -- Gannett 4th-quarter net income drops, hurt by charges, 5 percent revenue decline
Gannett Co. Inc.' s profit fell 32 percent last quarter as revenue continued to erode at the McLean-based media giant.
The company earned $US116.9 million ($A110.14 million), or 49 cents per share, in the three months that ended December 25. More...

Jan-30 -- Costa Concordia Wreck May Take as Long as 10 Months to Remove
The Concordia's captain, Francesco Schettino, is under house arrest, suspected of causing the accident by steering too close to shore and faces charges of multiple manslaughter and abandoning ship before the evacuation was complete.
Officials have virtually ruled out finding anyone alive more than two weeks after the Costa Concordia hit a reef, but were reluctant to give a final death toll for the Jan. 13 disaster. More...

Monday

Jan-30 -- GLOBAL MARKETS-Shares, euro guarded over likely Greek debt deal
ANXIETY among local bankers over the impact of the euro zones problems has reached an all-time high.
A successful second Greek bailout scheme could ease tension over Portugal, while difficult talks risk reigniting fund raising concerns over Italy and Spain, Yamamoto said. More...

Jan-30 -- Facebook Readies IPO Filing
The IPO raised $1.9 billion, including shares sold by early investors and extra stock issued to meet the heavy demand.
A $10 billion Facebook offering would rank fourth among U.S. companies, behind Visa Inc., General Motors Co. and AT&T Wireless. More...

Jan-30 -- US, Europe choose risky strategy with sanctions on Iran
Iranian officials say sanctions have had no impact on the country.
"The outcome of the IAEA inspection in Iran will also be a major factor affecting oil prices in the coming days," said Shum. More...

Jan-30 -- China's Wen: govt debt risk "controllable", sets reforms
The figure is a fraction of the 2 trillion-3 trillion yuan of sour loans economists believe are buried in the 10.7 trillion yuan of debt local governments had at the end of 2010.
BEIJING (Reuters) - China's Premier Wen Jiabao said the nation's government debt is at an "overall safe and controllable" level, that funding for key projects would be ensured and that applying the brakes to the problem would be done in a way to avoid systemic risks. More...

Jan-30 -- China's Stocks Decline After Weeklong Holiday
Yantai Changyu Pioneer Wine Co. (000869), the listed unit of the country's biggest vintner, lost 5.7 percent to 97.11 yuan.
China's main stock index, the Shanghai Composite Index.SSEC, dropped 6.8 percent in the fourth quarter of 2011 after slumping 14.6 percent in the third quarter, driven by investor worries over a slowdown of the world's second-largest economy amid global weakness. More...

Jan-30 -- Citi Chairman Parsons Considers a Departure
REUTERS - Citigroup's chairman, Richard Parsons, is considering giving up the position to focus on other interests, the Wall Street Journal reported on Sunday, citing people familiar with the situation.
Regular posts from Wall Street Journal and Dow Jones Newswires reporters around the country provide a unique take on the main stories in the news, shed light on what else mattered and why, and give global readers a snapshot of what Indians have been talking about all week. More...

Jan-30 -- ABB Nears Deal to Buy Electrical Parts Maker
NEW YORK/ZURICH (Reuters) - Swiss engineering company ABB (ABBN.VX: Quote ) was near an agreement on Sunday to acquire U.S. manufacturer Thomas & Betts Corp (TNB.N: Quote ) for about $4 billion, the Wall Street Journal reported, citing people familiar with the matter.
ABB, based in Zurich and the world's largest provider of power-transmission gear, may announce a deal as soon as today, said the person, who spoke on condition of anonymity because the negotiations are private. More...

Jan-30 -- Asia stocks fall as US economic growth falls short
The deal would reduce Greece's annual interest expense from about euro10 billion to about euro4 billion.
Japan's Nikkei average eased, hurt by a slump in Mitsubishi Electric after the government suspended dealings with the firm, though news that Greece and its private creditors are on the verge of clinching a debt swap debt offered some support. More...

Jan-30 -- Sudan: China company working to free missing team
Sudanese rebels say they are holding nearly 30 Chinese workers following a battle with Sudan's army in the state of South Kordofan, which borders newly independent South Sudan.
South Sudan seceded in July under a 2005 peace deal that ended a civil war in which around 2 million people died. More...

Jan-30 -- Stocks face headwinds next week
The Dow Jones Industrial Average fell 0.5% last week, snapping a three-week winning streak.
More...

Jan-30 -- Oil Declines a Second Day Before European Leaders Meet on Debt
The contract fell 14 cents to finish at $99.56 on Friday.
HONG KONG, (Asia Pulse) - South Korea's possible cut in imports of Iranian oil could hurt the country's refiners as it would result in higher costs for them, Moody's Investors Service said. More...

Jan-30 -- In Davos, Europe Is Pressed for Debt Crisis Solution
The higher the costs, the greater the likelihood of default for a heavily indebted country.
The Europeans got a more global perspective by spending the week rubbing shoulders with business people and politicians from Asia, where the huge markets of China are still growing at around 9 per cent and India at just over 5 per cent. More...

Jan-30 -- EU summit: Still searching for a solution
The 27 nations of the EU will meet in Brussels to focus on how to boost growth and jobs.
The official agenda is focused on striking a balance between more austere fiscal measures for nations with unsustainable levels of debt and policies that will help revive economic growth across the 17-member euro currency area. More...

Jan-30 -- Bank of America shuffles investment banking leaders
Bank of America Corp. shook up its investment-banking leadership Sunday, naming Christian Meissner as the sole head of that business, said people familiar with the situation.
The moves come after a challenging year for Montag's business, which saw net income fall by more than half to about $3 billion in 2011 from last year as clients pulled back amid uncertainty over the European debt crisis. More...

Jan-30 -- Tonen: $4 billion buyout of Exxon stake not due to government
ExxonMobil has a 22 per cent stake in TonenGeneral.
Under the terms of the deal , Exxon will sell a 99 percent stake in the subsidiary, ExxonMobil Yugen Kaisha, to TonenGeneral. More...

Jan-30 -- Bernanke's Imprint on Fed Not Easily Erased
The comments come two days after the Fed offered a bleak outlook for the economy and Chairman Ben Bernanke said the central bank stood ready to offer more stimulus in the form of bond purchases if inflation stays below 2 percent and if unemployment, now at 8.5 percent, remains high.
Gross domestic product, the value of all goods and services produced, climbed at a 2.8 percent annual pace following a 1.8 percent gain in the prior quarter. More...

Jan-30 -- 'Occupy' Movement Tries Again in Another Park
Some of the actions are very specific and center on saving one family home at a time.
According to Michael Premo, an organizer for "Occupy Our Homes" in New York, the movement has carried out 50 similar actions nationally in the past month, including foreclosure disruptions, eviction defense actions, and home re-occupations. More...

Jan-30 -- US Speaker says Keystone pipeline approval to be attached to jobs bill
WASHINGTON - Congressional Republicans are refusing to back down in their attempts to win speedy approval of TransCanada's Keystone XL pipeline, vowing to link approval of the controversial project to a new jobs bill being introduced next week.
In case anyone does not realize affluent, suburban, trendy environmental radicals have a lot of influence in the Obama administration, Exhibit A is the recent disapproval of TransCanada's Keystone XL pipeline. More...

Jan-30 -- Hugo Chavez warns he could nationalize some banks
CARACAS, Venezuela - Venezuelan President Hugo Chavez warned private banks on Sunday that he will consider nationalizing any that refuse to finance agricultural projects promoted by his government.
"Banks of Venezuela, private and public, either you finance agricultural production or we will take measures. More...

Jan-30 -- Smallest US cattle herd in 60 years may raise beef prices
A record drought in Texas last year and rising feed costs prompted ranchers to cull herds, even as beef exports surged from the U.S., the world's largest producer.
Bob's experience includes a number of years' experience with managed commodity futures accounts for customers of Shearson Lehman Brothers, and with the PFGBEST commitment to sustainable investing, he helps current investors and traders to capitalize on opportunities in managed products as they pertain to commodity allocations. More...

Sunday

Jan-29 -- Germany: Greece Must Prove Itself
Charles Dallara, chief of the Institute of International Finance that negotiates on behalf of banks and insurers, is due to leave Athens on Sunday but will remain in contact with Greek authorities, the IIF said.
Under the radical plan, a commissioner appointed by the 16 other eurozone finance ministers could veto budget decisions made by Athens. More...

Jan-29 -- Facebook Readies IPO Filing
The company is discussing a valuation of $75 billion to $100 billion, said two people, who asked not to be identified because the plans haven't been made public.
Just a year ago, when Goldman Sachs and others invested $1.5 billion into Facebook, the company, Google's top online ad rival, was valued at approximately $50 billion. More...

Jan-29 -- UN Begins Iran Nuclear Inspection
Please download Flash from the Adobe download website.
I'm quite certain that the same thing will happen with the nation rights to possess peaceful nuclear capbility and industry. More...

Jan-29 -- Barnes & Noble, Destroyer of Indie Bookstores, Is Now Printed Books' Last ...
Perhaps even more importantly, it allows publishers to maintain the perceived value of a physical book over the often dramatically discounted prices Amazon and other retailers offer on digital titles.
U.S. book retailers Barnes Noble is negotiating to bring its nook ebook reader to the UK. More...

Jan-29 -- Can Netflix Make It in the UK?
The biggest threat Netflix faces overall has nothing to do with business in the U.S. and everything to do with the success of the company's expansion into the U.K., Ireland, Canada, and Latin America.
Netflix Inc. (NFLX), the online and mail- order video-rental service, surged the most in two years after reporting fourth-quarter profit that topped analysts' estimates and forecasting improving margins in its streaming business. More...

Jan-29 -- Ford Profits Race Higher, Fall Short Of Checkered Flag
"Then accelerating for the later part of the period as the plants come onstream and the new products come on stream."
Profit was $13.62 billion, or $3.40 a share, compared with $190 million, or five cents, in the year-earlier period. More...

Jan-29 -- Jobless Homeowners May Soon Get A "Time Out" From Mortgage Payments
President Obama on Friday proposed to sweeten a deal from Washington to entice banks to modify payments, lower loan principal, and expand eligibility in order to help more of the 11 million American families sinking under their mortgages.
Friday's announcement received praise, not only from fellow Democrats, but also labor and industry groups still grappling with the housing crisis. More...

Jan-29 -- Obama in Ann Arbor; 'Make college more affordable'
Under the plan, which the president outlined on Friday morning in a speech at the University of Michigan, the amount available for Perkins loans would grow to $8 billion, from the current $1 billion.
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Jan-29 -- S.Sudan demands border deal before restarting oil
South Sudan became independent in July under a 2005 peace deal that ended decades of civil war, leaving the new nation with about 75 percent of roughly 500,000 barrels per day of oil production.
"The shutdown is going well," Dhieu Dau told reporters during a visit to the Palouge oil field in Upper Nile state. More...

Jan-29 -- Exxon selling Japanese subsidiary in $3.9B deal
Under the terms of the deal, Exxon will sell a 99 percent stake in the subsidiary, ExxonMobil Yugen Kaisha, to TonenGeneral.
Saudi Arabia's state oil company, the source of almost 31 percent of Japan's crude imports during the first nine months of 2011, owns a 15 percent stake in domestic refiner Showa Shell Sekiyu KK. The Abu Dhabi government owns a 21 percent stake in Japanese refiner Cosmo Oil Co. More...

Jan-29 -- Officials: 'Business as usual' at Solutia
In this report: Solutia (NYSE:SOA), Cepheid (NASDAQ:CPHD) and Potash Corp. of Saskatchewan (NYSE:POT).
DALLAS, Jan 27, 2012 (BUSINESS WIRE) -- Kendall Law Group, led by former federal judge Joe Kendall, is investigating Solutia Inc. /quotes/zigman/491094 /quotes/nls/soa SOA +41.06% for shareholders in connection with the proposed acquisition by Eastman Chemical. More...

Jan-29 -- Former Groupon Sales Managers Countersue Company Over 'Abusive' Tactics
Groupon in November sold shares in the biggest initial public offering for a U.S. Web company since Google, selling 35 million shares for $700 million.
According to Jonathan Stempel of Reuters, Groupon filed a complaint against former sales managers Nikki Dorough, Brian Hanna and Michael Nolan on October 21 of last year. More...

Jan-29 -- ABB near $4 billion deal for Thomas & Betts: report
NEW YORK/ZURICH (Reuters) - Swiss engineering company ABB ( ABBN.VX ) was near an agreement on Sunday to acquire U.S. manufacturer Thomas & Betts Corp ( TNB.N ) for about $4 billion, the Wall Street Journal reported, citing people familiar with the matter.
An agreement could be announced as soon as Monday, though the talks could still fall apart, the paper said, citing the same unnamed sources. More...

Jan-29 -- Boehner: Keystone XL to Ride on GOP's Highway Bill
WASHINGTON - Congressional Republicans are refusing to back down in their attempts to win speedy approval of TransCanada's Keystone XL pipeline, vowing to link approval of the controversial project to a new jobs bill being introduced next week.
Two weeks ago, the Obama administration rejected Keystone XL's permit application, saying the imposed deadline did not give U.S. State Department officials enough time to conduct an adequate environmental review of a new pipeline route that would avoid an environmentally sensitive aquifer in Nebraska. More...

Jan-29 -- Davos Leaders Urge Europe to Resolve Crisis Threatening the Global Economy
The higher the costs, the greater the likelihood of default for a heavily indebted country.
In a pre-emptive move, it has announced a commitment of US$27 billion (Bt838 billion) to shore up the European banking system and help protect Eastern European and Central Asian nations from bearing the brunt of a retreat of investments stemming from any European banking crisis. More...

Jan-29 -- Economic growth not enough to sharply reduce unemployment
Some economists think it likely that the fourth-quarter GDP could be revised upward during the next scheduled reporting period, on Feb. 29.
The fourth-quarter numbers reflect a resilient U.S. economy that grew at its fastest pace since the middle of 2010, but not one moving quickly enough to significantly reduce the unemployment rate below its current 8.5 percent. More...

Jan-29 -- Workers hurt in Ohio casino collapse recovering
CINCINNATI-- A hospital spokesman says a worker who was injured when a floor collapsed at an Ohio casino construction site remains in serious condition a day later as investigators work to figure out what happened.
We are thankful to report that there were no life-threatening injuries to any workers who were in the area at the time of the incident. More...

Jan-29 -- Ship carrying rocket parts hits Kentucky bridge
The Delta Mariner struck the main span of the Eggner Ferry Bridge on Thursday evening at U.S. Highway 68 and Kentucky Highway 80, said Keith Todd, spokesman for the Kentucky Transportation Cabinet.
A dive team will help inspectors figure out how bad the damage is on a Western Kentucky bridge. More...

Jan-29 -- BP Feared Spill of 3.4 Million Gallons a Day
The UK oil group has forecast the costs of sealing the blown out well, fines, the cleaning-up programme and compensation will total US$42bn.
THE owner of the rig that blew out in the Gulf of Mexico will not have to pay many pollution claims because it is shielded in a contract with well-owner BP, a federal judge has ruled. More...

Sunday

Jan-29 -- UN nuclear team lands in Iran
UN nuclear inspectors have arrived in Iran to investigate the suspected development of atomic weapons - on the day lawmakers are expected to ban oil exports to Europe.
Earlier Japan was hesitant to approve sanctions on Iran. More...

Jan-29 -- Europe told to build bigger firewall
Jan. 27 (Bloomberg) -- European governments were warned against complacency as U.S. and International Monetary Fund officials told leaders at the World Economic Forum to strengthen their crisis defences.
The IMF has said it needs around $500 billion more in financial firepower, a request that has met with mixed response and notably resistance from the U.S. Britain's finance minister George Osborne said there was "a case" for boosting the IMF's resources. More...

Jan-29 -- Facebook Readies IPO Filing
The company is discussing a valuation of $75 billion to $100 billion, said two people, who asked not to be identified because the plans haven't been made public.
Goldman Sachs, which helped Facebook raise $1.5bn at the start of 2010, is also said to have a role, according to reports in the Wall Street Journal. More...

Jan-29 -- Greece, Bankers Expect Debt-Swap Deal This Week
Without the deal, which would reduce Greece's debt load by at least €120 billion, the bonds held by banks, insurance companies and hedge funds would likely become worthless.
Under the proposals, European institutions already operating in Greece should be given "certain decision-making powers" over fiscal policy, a German official told the Reuters news agency. More...

Jan-29 -- ExxonMobil Sells Japan Unit to TonenGeneral for $3.9B
TOKYO (Reuters) - Japan's second largest refiner TonenGeneral Sekiyu KK ( 5012.T ) said on Sunday it will buy 99 percent of the shares in ExxonMobil's ( XOM.N ) Japanese unit, ExxonMobil Yugen Kaisha, for 302 billion yen ($3.94 billion) to improve efficiency.
Net income increased to $10.33 billion or $2.13 per share from $7.35 billion or $1.44 per share in the prior year, but slipped from $10.68 billion or $2.18 per share earned in the preceding second quarter. More...

Jan-29 -- After 70 years, right-to-work issue remains a hot potato
Over the years, job growth has surged in states with, and without, right-to-work laws.
Hicks did find a significant influence of right-to-work laws on the total growth of incomes for manufacturing workers. More...

Jan-29 -- Can Netflix Make It in the UK?

Jan-29 -- Davos founder Klaus Schwab: Focus on jobs, morals
DAVOS, Switzerland - Global business leaders on Wednesday at the news conference of the 42nd World Economic Forum Annual Meeting urged politicians to take "concrete actions" to solve challenges ranging from the European debt crisis, unemployment to sustainable growth.
"We have to recognize there could be some damage and that business has to work in a sensitive way to make sure that the needs of citizens are being looked after." More...

Jan-29 -- There are some key differences between aid filters
Under the plan, which the president outlined on Friday morning in a speech at the University of Michigan, the amount available for Perkins loans would grow to $8 billion, from the current $1 billion.
College tuition is out of control largely because easily available moneyprovided almost exclusively by Washingtonnegates the usual market forces that control price. More...

Jan-29 -- Stocks fall on slower growth | Philadelphia Inquirer | 2012-01-28
At 8:30 am (ET), investors and economists will get a look at U.S. economic growth in the fourth quarter, with expectations that gross domestic product expanded by 3 per cent over the previous quarter, at an annualized pace.
Friday was the 17th day in a row of moves of less than 100 points up or down for the Dow. More...

Jan-29 -- South Sudan, Sudan Risk Economic Damage, Bank Says
South Sudanese express their support as President Salva Kiir declared a halt on all oil operations in South Sudan, in Juba, January 23, 2012.
Sudan has publicly proposed $36 per barrel, while South Sudan has listed figures under $1 per barrel. More...

Jan-29 -- Former Groupon Sales Managers Countersue Company Over 'Abusive' Tactics
In October, Groupon had sued two managers, accusing them of revealing trade secrets to Google.
Jan. 27 (Bloomberg) -- Former Groupon Inc. sales managers countersued the company, which had accused them of taking trade secrets to Google Inc. Groupon, the world's largest online coupon site, sued two former managers in October after they left to join Google Offers, a competing venture. More...

Jan-29 -- Solutia acquired by Eastman Chemical for $3.4 billion
In this report: Solutia (NYSE:SOA), Cepheid (NASDAQ:CPHD) and Potash Corp. of Saskatchewan (NYSE:POT).
In the past 52 weeks, shares of Solutia have traded between a low of $11.27 and a high of $27.89 and are now at $27.27, which is 142% above that low price. More...

Jan-29 -- Ford's Quarterly Profit Misses Estimates on Overseas Woes
Profit fell in Ford's South American unit and the quarterly loss increased in Europe.
Revenue in the quarter was $34.6 billion, up 6.5 percent from a year ago and better than analysts anticipated. More...

Jan-29 -- Economic growth not enough to sharply reduce unemployment
Some economists think it likely that the fourth-quarter GDP could be revised upward during the next scheduled reporting period, on Feb. 29.
Major elements of the economy grew faster than in the third quarter, the department's Bureau of Economic Analysis reported Friday. More...

Jan-29 -- FDA seizes nearly 14% of imported orange juice over fungicide
Test results released Friday by the Food and Drug Administration found that 11 shipments of orange juice stopped at the
"Nobody is concerned about carbendazim in Europe (where a level of 200 parts is accepted). More...

Jan-29 -- Ship carrying rocket parts hits Kentucky bridge
"The Delta Mariner was commissioned in 2002 to transport flight hardware from the United Launch Alliance factory in Decatur, Ala., to launch sites at Cape Canaveral Air Force Station, Fla., and Vandenberg Air Force Base, Calif."
A bridge in western Kentucky has partially collapsed after being struck by a cargo ship Thursday night. More...

Jan-29 -- BP Feared Spill of 3.4 Million Gallons a Day
The UK oil group has forecast the costs of sealing the blown out well, fines, the cleaning-up programme and compensation will total US$42bn.
Swiss-based Transocean, the company involved in drilling the well that blew out in the Gulf of Mexico and spawned America's largest offshore oil spill, will face fewer pollution claims. More...

Jan-29 -- Oil pipeline plan also has foes in Canada
Prime Minister Stephen Harper says Canada's national interest makes the $5.5 billion pipeline essential.
The TransCanada Corp. folks want you to believe Keystone will benefit you. More...

Jan-29 -- Italy, Spain Are Among Five Euro-Zone Nations Downgraded by Fitch Ratings
WASHINGTON — Rating agency Fitch on Friday downgraded five eurozone countries, including Italy and Spain, citing their vulnerability to sharp turns in market sentiment amid Europe's debt crisis.
Ratings of Italy and Spain, two Eurozone economic heavyweights , were slashed by two notches. More...

Sunday

Jan-29 -- Greece, Bankers Expect Debt-Swap Deal Next Week
Charles Dallara, chief of the Institute of International Finance that negotiates on behalf of banks and insurers, is due to leave Athens on Sunday but will remain in contact with Greek authorities, the IIF said.
Greek Finance Minister Evangelos Venizelos arrives for a meeting with the senior international debt inspectors in Athens, Friday, Jan. 27, 2012. More...

Jan-29 -- Topless protesters detained at Davos forum
A member of the Ukrainian FEMEN women's rights group is detained by policemen after a protest at the 42nd Annual Meeting of the World Economic Forum, WEF, in Davos, Switzerland, Saturday, Jan. 28, 2012.
"Let's get a seat at the table for the real economy. More...

Jan-29 -- FDA seizes nearly 14% of imported orange juice over fungicide
Test results released Friday by the Food and Drug Administration found that 11 shipments of orange juice stopped at the
The concentrate "should be evaluated as though it were ready to be consumed, which would resolve almost all of the problem," said Christian Lohbauer, president of CitrusBR, the Brazilian orange juice exporters' association. More...

Jan-29 -- Facebook Readies IPO Filing
The newspaper, citing people familiar with the matter, said Facebook could file IPO papers with the U.S. Securities and Exchange Commission (SEC) as early as Wednesday but the "timing is still being discussed."
California's Accel Partners invested $12.7 million in Facebook when the company carried a $100 million valuation in 2005, and, according to The Wall Street Journal, it could still reap a 1,000-times return. More...

Jan-29 -- Europe pushed to create bigger financial firewall
Europe's financial chiefs have tried to soothe the fears of global chief executives and other political leaders, insisting they have a handle on the eurozone's troubles.
European Central Bank president Mario Draghi and U.S. Treasury Secretary Timothy Geithner expressed optimism that the eurozone had turned a corner, but markets closed lower amid jitters over Greek debt talks. More...

Jan-29 -- Economic growth not enough to sharply reduce unemployment
Some economists think it likely that the fourth-quarter GDP could be revised upward during the next scheduled reporting period, on Feb. 29.
"The economy simply isn't expanding fast enough to generate a sufficient number of jobs to bring down the unemployment rate rapidly, and the policies of the Obama Administration such as the rejection of the Keystone XL pipeline continue to dampen growth. More...

Jan-29 -- Can Netflix Make It in the UK?
The biggest threat Netflix faces overall has nothing to do with business in the U.S. and everything to do with the success of the company's expansion into the U.K., Ireland, Canada, and Latin America.
Amazon has always charged for streaming video. More...

Jan-29 -- World stocks dip as US GDP falls short
TORONTO (Reuters) - Canada's dollar hovered close to parity with its U.S. counterpart on Thursday after the U.S. Federal Reserve's plans to keep rates low until 2014 drove down the U.S. dollar, but gains were pared by a slide in the euro as Greek debt talks produced few results.
LONDON, Jan 26 (Reuters) - Sterling rose to a one-month high against a broadly weak dollar on Thursday after the Federal Reserve said it would keep rates near zero until at least late 2014 and may opt for more stimulus. More...

Jan-29 -- Stocks fall on slower growth | Philadelphia Inquirer | 2012-01-28
At 8:30 am (ET), investors and economists will get a look at U.S. economic growth in the fourth quarter, with expectations that gross domestic product expanded by 3 per cent over the previous quarter, at an annualized pace.
Shares climbed $2.26, or 2.1%, to $111.31, leading blue chips. More...

Jan-29 -- Eastman: leap on the China bandwagon
US-based Eastman Chemical has agreed to acquire specialty chemicals group Solutia in a deal worth around $4.7 billion, including Solutia's debt, the companies said in a joint statement Friday.
The move to buy Solutia, which makes aftermarket materials like glass and coatings that are used by automotive and architectural customers, is also expected to diversify the Eastman Chemical's revenue further into emerging markets and boost earnings through cost synergies. More...

Jan-29 -- Exclusive: US Air Force to halt Northrop unmanned plane
The Pentagon also proposes to continue an $11 billion Navy program to continue developing a maritime version of the RQ-4 Global Hawk that is flying surveillance missions over the Persian Gulf, said the official, who has knowledge of the Defense Department's budget plans.
Build 9: 16 ms (Content).Completed macro ody_bottom_caro_eight.Build 9: 188 ms (Content).Completed macro ody_conveyor.Parsing macro ody_inteltxtwrapper.Build 9: 0 ms (Content).Completed macro ody_inteltxtwrapper.Parsing macro ody_footer.Parsing macro ody_analytics. More...

Jan-29 -- Former Groupon Sales Managers Countersue Company Over 'Abusive' Tactics
In October, Groupon had sued two managers, accusing them of revealing trade secrets to Google.
Jan. 27 (Bloomberg) -- Former Groupon Inc. sales managers countersued the company, which had accused them of taking trade secrets to Google Inc. Groupon, the world's largest online coupon site, sued two former managers in October after they left to join Google Offers, a competing venture. More...

Jan-29 -- BP Feared Spill of 3.4 Million Gallons a Day
The UK oil group has forecast the costs of sealing the blown out well, fines, the cleaning-up programme and compensation will total US$42bn.
A U.S. federal district Judge Carl Barbier said Transocean was protected in a contract with the owner of the well, BP. That means the drilling company will be spared having to contribute to clean up costs and economic losses ringing in at close to 37 billion francs. More...

Jan-29 -- Spain takes legal action against Spanair for alleged breach of aviation ...
Star Alliance airline Spanair has announced that it is halting all operations today, with the last flight expected to arrive at its base at 22:00 after talks with Qatar Airways over a stakeholding and capital injections collapsed.
In 2008 one of Spanair's jets crashed on take-off at Madrid airport with the deaths of 154 people. More...

Jan-29 -- Sudan says to release ships seized from S.Sudan
Like many other post-independence issues, negotiations between the former foes have not yielded any major breakthroughs on oil, borders, national debt, assets and the disputed territory of Abyei.
January 28, 2012 (ADDIS ABABA) -The Sudanese president Omer Hassan al-Bashir met today with the chairman of the National Committee of the Chinese People's Political Consultative Conference Jia Qinglin and briefed him on the ongoing negotiations with the south regarding the oil dispute. More...

Jan-29 -- New CEO promises to take RIM to 'the next phase'
"Prem is attracted to companies that are out of favor and unpopular with the market," said Todd Johnson, a portfolio manager at BCV Asset Management in Winnipeg, which holds Fairfax bonds.
From the start, "he was viewed as the patron saint of theoretical physics," says Howard Burton, the founding executive director until 2007. More...

Jan-29 -- New Details Emerge About Bridge Collapse
The Delta Mariner struck the main span of the Eggner Ferry Bridge on Thursday evening at U.S. Highway 68 and Kentucky Highway 80, said Keith Todd, spokesman for the Kentucky Transportation Cabinet.
BENTON, Ky. Two spans of a southwest Kentucky bridge collapsed after being struck by a cargo ship that carried aviation parts. More...

Jan-29 -- Ford's Quarterly Profit Misses Estimates on Overseas Woes
Profit fell in Ford's South American unit and the quarterly loss increased in Europe.
In accordance with the formula in the UAW-Ford collective bargaining agreement, Ford's North American pre-tax profits of $6.2 billion will generate approximately $6,200 per eligible employee on a full year basis. More...

Jan-29 -- Schneiderman: Objection resolved in mortgage deal
WASHINGTON — The Obama administration announced Friday a new inquiry to investigate fraud in the mortgage-backed securities market, whose billion-dollar implosion helped trigger the global financial crisis.
New York's Schneiderman is also reportedly cold to the latest deal, two sources familiar with the talks have said. More...

Jan-29 -- Bernanke Makes Case for More Bond Buying
Jan. 27 (Bloomberg) -- Federal Reserve Bank of Richmond President Jeffrey Lacker said interest rates may need to rise before late 2014 to prevent an increase in inflation.
"I expect that as economic expansion continues, even if only at a moderate pace, the federal funds rate will need to rise in order to prevent the emergence of inflationary pressures. More...

Saturday

Jan-28 -- Private investors near deal on Greek debt
Crushed by 350 billion euros of debt and running out of cash quickly, Greece is scrambling to appease the "troika" of its official lenders - the European Commission, European Central Bank and International Monetary Fund - and stitch up a deal with private creditors simultaneously.
Greek Education Minister and former EU commissioner Anna Diamantopoulou rejected the notion as "the product of a sick imagination". More...

Jan-28 -- Facebook Readies IPO Filing
The newspaper, citing people familiar with the matter, said Facebook could file IPO papers with the US Securities and Exchange Commission (SEC) as early as Wednesday but the "timing is still being discussed."
California's Accel Partners invested $12.7 million in Facebook when the company carried a $100 million valuation in 2005, and, according to The Wall Street Journal, it could still reap a 1,000-times return. More...

Jan-28 -- More Pressure on Europe for Solution to Debt Crisis
Jan. 27 (Bloomberg) -- European governments were warned against complacency as U.S. and International Monetary Fund officials told leaders at the World Economic Forum to strengthen their crisis defences.
The speech was Lagarde's latest call for Europe to pull back on austerity and focus on growth. More...

Jan-28 -- Topless protesters detained at Davos World Economic Forum
DAVOS: The Davos buses and walls are plastered with gigantic India Ingenious advertisements and the Indian contingent has a record 100 delegates, according to the World Economic Forum.
The activists are from the group Femen, which has become popular in Ukraine for staging small, half-naked protests to highlight a range of issues including oppression of political opposition. More...

Jan-28 -- Stocks fall on slower growth | Philadelphia Inquirer | 2012-01-28
At 8:30 am (ET), investors and economists will get a look at U.S. economic growth in the fourth quarter, with expectations that gross domestic product expanded by 3 per cent over the previous quarter, at an annualized pace.
New York: U.S. Stocks Closing : A brief morning rally Thursday pushed the Dow Jones industrial average above its highest close since the financial crisis of 2008, but stocks finished lower for the day after mixed economic data tempered traders' optimism. More...

Jan-28 -- World stocks dip as US GDP falls short
TORONTO (Reuters) - Canada's dollar hovered close to parity with its U.S. counterpart on Thursday after the U.S. Federal Reserve's plans to keep rates low until 2014 drove down the U.S. dollar, but gains were pared by a slide in the euro as Greek debt talks produced few results.
LONDON, Jan 26 (Reuters) - Sterling rose to a one-month high against a broadly weak dollar on Thursday after the Federal Reserve said it would keep rates near zero until at least late 2014 and may opt for more stimulus. More...

Jan-28 -- Obama Plan Links College Aid With Affordability
We are putting colleges on notice--you can't assume you can jack up tuition every single year."
Some of the proposals make good sense while others may have unintended consequences, says Sandy Baum, a higher education analyst and senior fellow at George Washington University School of Education. More...

Jan-28 -- Eastman to Buy Solutia for $3.38 Billion to Boost Asia Sales
US-based Eastman Chemical has agreed to acquire specialty chemicals group Solutia in a deal worth around $4.7 billion, including Solutia's debt, the companies said in a joint statement Friday.
Solutia had sales of just under $2.1 billion in 2011 and, adjusting for extraordinary items, racked up earnings of $243 million. More...

Jan-28 -- Wal-Mart to Pull Greeters From Store Lobbies
The move shows that Wal-Mart is rethinking many longstanding practices as it tries to boost profit margins and same-store sales.
Same-store sales at Walmart's namesake U.S. locations declined for nine straight quarters before snapping the streak with a 1.3 percent gain for the quarter ended in October. More...

Jan-28 -- Suit claims Silicon Valley anti-poaching scheme
SAN FRANCISCO, Jan 26 (Reuters) - A civil lawsuit against several large tech companies over anti-poaching agreements will move forward, but may be broken up into multiple potential class actions, a U.S. judge said on Thursday.
Yet, Intel actually had a written document describing a non-poach agreement with Pixar, where Intel's policy was to not hire any Pixar employee without the Pixar CEO's express approval. More...

Jan-28 -- Iran moves toward banning oil sales to EU
Since the U.N. watchdog lent independent weight in November to the suspicions of Western powers that Iran is using a nuclear energy program to give itself the ability to build atomic bombs, U.S. and EU sanctions and Iranian threats of reprisal against Gulf shipping lanes have disrupted world oil markets and pushed up prices.
Irans leaders know that sanctions bite. More...

Jan-28 -- Former Groupon Sales Managers Countersue Company Over 'Abusive' Tactics
In October, Groupon had sued two managers, accusing them of revealing trade secrets to Google.
Jan. 27 (Bloomberg) -- Former Groupon Inc. sales managers countersued the company, which had accused them of taking trade secrets to Google Inc. Groupon, the world's largest online coupon site, sued two former managers in October after they left to join Google Offers, a competing venture. More...

Jan-28 -- Schneiderman: Objection resolved in mortgage deal
WASHINGTON — The Obama administration announced Friday a new inquiry to investigate fraud in the mortgage-backed securities market, whose billion-dollar implosion helped trigger the global financial crisis.
New York's Schneiderman is also reportedly cold to the latest deal, two sources familiar with the talks have said. More...

Jan-28 -- Ford's Quarterly Profit Misses Estimates on Overseas Woes
Profit fell in Ford's South American unit and the quarterly loss increased in Europe.
Ford's pre-tax operating profit was $1.1 billion in the fourth quarter. More...

Jan-28 -- Economy in U.S. Grows Less Than Economists Forecast as Consumers Hold Back
Some economists think it likely that the fourth-quarter GDP could be revised upward during the next scheduled reporting period, on Feb. 29.
Japan's retail sales grew at the fastest pace in more than a year as consumer spending rebounded. More...

Jan-28 -- Swiss urge US tax deal to shield other banks
Zurich - Wegelin, Switzerland's oldest bank, has been forced to sell its non-US business to shield it from the fallout over a row with U.S. authorities, which have threatened to charge it with helping U.S. taxpayers to hide assets.
Hummler joined Wegelin in 1989 and has since transformed it into a bank with SFr21 billion in assets. More...

Jan-28 -- Sudan says to release ships seized from S.Sudan
South Sudanese express their support as President Salva Kiir declared a halt on all oil operations in South Sudan, in Juba, January 23, 2012.
Hopes of a deal were raised during the day when the host of the talks, Ethiopian Prime Minister Meles Zenawi, told East African leaders an announcement was expected shortly. More...

Jan-28 -- Bernanke Makes Case for More Bond Buying
Jan. 27 (Bloomberg) -- Federal Reserve Bank of Richmond President Jeffrey Lacker said interest rates may need to rise before late 2014 to prevent an increase in inflation.
Warsh apparently grew increasingly uncomfortable with the dovish stance of the central bank. More...

Jan-28 -- Ratings downgrade another setback to contain euro zone debt crisis
WASHINGTON — Rating agency Fitch on Friday downgraded five eurozone countries, including Italy and Spain, citing their vulnerability to sharp turns in market sentiment amid Europe's debt crisis.
Jan. 27 (Bloomberg) -- Italy's credit rating was cut two levels by Fitch Ratings, which cited the impact of a surge in borrowing costs on the nation's debt, the second-biggest in the euro region. More...

Jan-28 -- UPDATED: Ramming by cargo vessel may have caused pier to shift
The Delta Mariner struck the main span of the Eggner Ferry Bridge on Thursday evening at U.S. Highway 68 and Kentucky Highway 80, said Keith Todd, spokesman for the Kentucky Transportation Cabinet.
A vessel transporting components for an upcoming United Launch Alliance launch crashed into a Kentucky bridge causing it to collapse. More...

Saturday

Jan-28 -- Wall Street clicks 'like' on Facebook IPO
The IPO raised $1.9 billion, including shares sold by early investors and extra stock issued to meet the heavy demand.
The initial believers in Friendster later saw promise in Facebook. More...

Jan-28 -- Euro Officials Said to Discuss Veto Powers Over Greek Budget
ATHENS/DAVOS, Jan 27 (Reuters) - The European Union and IMF want Greece to push through more budget cuts and implement a series of long-agreed austerity reforms before they sign off on a new bailout the country needs to avert bankruptcy, a report obtained by Reuters shows.
Greece must repay 14.5 billion euros of bonds in March and an agreement that triggers as much as $3.2 billion of default insurance may be necessary unless all bondholders approve, according to Marco Buti, head of the European Commission's economics division. More...

Jan-28 -- Netflix video game rental idea is axed
The company's share price plummeted from $304 in July to $62 in November.
Over the past year, it has spent heavily to acquire exclusive content, including movies from DreamWorks Animation SKG and new episodes of "Arrested Development." More...

Jan-28 -- World stocks dip as US GDP falls short
TORONTO (Reuters) - Canada's dollar hovered close to parity with its U.S. counterpart on Thursday after the U.S. Federal Reserve's plans to keep rates low until 2014 drove down the U.S. dollar, but gains were pared by a slide in the euro as Greek debt talks produced few results.
Falling borrowing costs for heavily indebted euro zone members reflected some investor confidence and demand from banks flush with cash from the European Central Bank. More...

Jan-28 -- Dow Snaps 3-Week Win Streak
U.S. stocks rose, sending the Dow Jones Industrial Average to the highest level since May, as the Federal Reserve signaled low rates through at least late 2014 and didn't rule out bond purchases to bolster the economy.
Though the data showed the U.S. economy expanded at the fastest pace since the second quarter of 2010, the reading fell short of the expected 3% rate. More...

Jan-28 -- Fitch Downgrades Five Euro-Zone Members
WASHINGTON — Rating agency Fitch on Friday downgraded five eurozone countries, including Italy and Spain, citing their vulnerability to sharp turns in market sentiment amid Europe's debt crisis.
Fitch put all six nations' credit outlooks on " negative," indicating there is at least one-in-two opportunity for a further downgrade in the next two years. More...

Jan-28 -- Eastman Chemical to buy Solutia for about $3.4 billion
US-based Eastman Chemical has agreed to acquire specialty chemicals group Solutia in a deal worth around $4.7 billion, including Solutia's debt, the companies said in a joint statement Friday.
Good day, ladies and gentlemen, and welcome to the Eastman Chemical Company Fourth Quarter and Year End 2011 Earnings Conference Call. More...

Jan-28 -- US Airways said to be in Delta's cross hairs
Delta, the world's second-biggest airline, increased 6.2 percent to $9.96 at 4:15 p.m. in New York, the biggest daily advance since October.
As fuel prices rise, major carriers like United, Delta, U.S. Airways, and the now-bankrupt American Airlines are going to feel the pinch. More...

Jan-28 -- GDP report shows slow healing in U.S. economy
Some economists think it likely that the fourth-quarter GDP could be revised upward during the next scheduled reporting period, on Feb. 29.
For the 2011 calendar year, GDP increased 1.7 percent, after rising 3 percent the year before. More...

Jan-28 -- Davos Leaders Urge Europe to Resolve Crisis Threatening the Global Economy
DAVOS, Switzerland (AP) -- European financial chiefs are trying to soothe global CEOs and political leaders, insisting they have a handle on the eurozone's troubles.
In the case of the European Union and the Euro, it was never right in the first place 10 years ago and probably never will be unless the big engines in it start firing up and put right what started out as very wrong. More...

Jan-28 -- Wal-Mart Makes A Decision To Cut Back On Greeters
The move shows that Wal-Mart is rethinking many longstanding practices as it tries to boost profit margins and same-store sales.
Mac Naughton, who is responsible for merchandising across Walmart's more than 3,850 U.S. stores, continues to report directly to Simon. More...

Jan-28 -- State's colleges put on notice to stop raising tuition
We are putting colleges on notice--you can't assume you can jack up tuition every single year."
In 2008, for instance, nearly 1.8 million students eligible for federal aid were enrolled at for-profit schools, a 225% increase in just 10 years. More...

Jan-28 -- Even Ford's Mulally Can't Fix Everything
Profit fell in Ford's South American unit and the quarterly loss increased in Europe.
In early trading, Ford's shares fell 42 cents, or 3%, to $12.32. More...

Jan-28 -- Schneiderman: Objection resolved in mortgage deal
WASHINGTON — The Obama administration announced Friday a new inquiry to investigate fraud in the mortgage-backed securities market, whose billion-dollar implosion helped trigger the global financial crisis.
With strong opposition from the financial industry, Obama was unable to push the fee through the Democratic-controlled Congress. More...

Jan-28 -- Former Groupon sales reps countersue over tactics
Groupon in November sold shares in the biggest initial public offering for a U.S. Web company since Google, selling 35 million shares for $700 million.
The workers believe that clause is unenforceable and unnecessary as none had access to confidential, sensitive or proprietary information. More...

Jan-28 -- Workers hurt in collapse at Cincinnati casino site
The accident, which occurred about 7:45 a.m. Friday as workers were pouring concrete on the second floor of Cincinnati's Horseshoe Casino, was the second structural failure in six weeks for Rock Gaming LLC, the developer who with Caesars Entertainment Corp. is building and will operate Las-Vegas style casinos in Cincinnati and Cleveland.
Fourteen people were hospitalized at three area hospitals, according to city and hospital officials. More...

Jan-28 -- Topless protesters detained at elite Davos forum, trying to call attention to poor
Germany's Finance Minister Wolfgang Schaeuble says he's "quite optimistic" about a Greek debt restructuring deal, despite recent strains in the complex talks.
The "Iron Ladies' of the European debt crisis, German Chancellor Angela Merkel, and IMF Chief Christine Lagarde have clashed to the joy of tweeterers. More...

Jan-28 -- South Sudan oil row: Sudan to release shipments
January 27, 2012 (NAIROBI) - South Sudan has threatened litigation against those who purchase its oil from neighboring Sudan after Khartoum reportedly sold crude seized from the newly independent state at millions of dollars discount.
The UN has denounced the bombing of a camp housing some 5,000 refugees in South Sudan near the border with Sudan. More...

Jan-28 -- Ky. to review how to restore bridge struck by boat
The Delta Mariner struck the main span of the Eggner Ferry Bridge on Thursday evening at U.S. Highway 68 and Kentucky Highway 80, said Keith Todd, spokesman for the Kentucky Transportation Cabinet.
The coast guard said the ship was not carrying hazardous cargo at the time of the accident. More...

Jan-28 -- Bernanke Makes Case for More Bond Buying
Jan. 27 (Bloomberg) -- Federal Reserve Bank of Richmond President Jeffrey Lacker said interest rates may need to rise before late 2014 to prevent an increase in inflation.
Since the Fed committed itself in August to two years of near-zero rates, the ten-year Treasury yield has fluctuated around 2% despite a run of better-than-expected economic news. More...

Saturday

Jan-28 -- Facebook Plans IPO Filing as Early as Next Week
The newspaper, citing people familiar with the matter, said Facebook could file IPO papers with the US Securities and Exchange Commission (SEC) as early as Wednesday but the "timing is still being discussed."
While one person warned that the deadline could still slip due to unexpected problems with the company's regulatory filing or external news, the provisional date is the first indication that Facebook is close to taking the long-awaited step to becoming a public company. More...

Jan-28 -- Dow Posts First Losing Week of '12, but Is Still Up for Year
Jan. 27 (Bloomberg) -- The Standard & Poor's 500 Index rose for a fourth week, the longest streak since October, as the Federal Reserve's plans to keep interest rates low through at least late 2014 offset slower-than-forecast economic growth.
At 8:30 am (ET), investors and economists will get a look at U.S. economic growth in the fourth quarter, with expectations that gross domestic product expanded by 3 per cent over the previous quarter, at an annualized pace. More...

Jan-28 -- Greece, creditors laboriously piece together debt deal
ATHENS/DAVOS, Jan 27 (Reuters) - The European Union and IMF want Greece to push through more budget cuts and implement a series of long-agreed austerity reforms before they sign off on a new bailout the country needs to avert bankruptcy, a report obtained by Reuters shows.
The coupon on the new, longer-maturity bonds was where the talks on the debt swap hit a snag, because the International Monetary Fund and the EU want it to be low enough to ensure that Greece's debt will fall to 120 percent of gross domestic product by 2020 from the current level of 160 percent. More...

Jan-28 -- US fourth-quarter GDP falls short of expectations
U.S. gross domestic product expanded at a 2.8 per cent annual rate, the Commerce Department said on Friday, a sharp acceleration from the 1.8 per cent clip of the prior three months and the quickest pace since the second quarter of 2010.
Ian Shepherdson, an economist at High Frequency Economics, said business investment in capital goods should be stronger, consumer spending firmer and government activity less of a drag. More...

Jan-28 -- Italian, Spanish Ratings Cut Two Notches by Fitch on Crisis
WASHINGTON — Rating agency Fitch on Friday downgraded five eurozone countries, including Italy and Spain, citing their vulnerability to sharp turns in market sentiment amid Europe's debt crisis.
LONDON -- Fitch downgrades credit ratings of 6 eurozone nations including Italy, Spain, Ireland, Belgium. More...

Jan-28 -- World stocks dip as US GDP falls short
TORONTO (Reuters) - Canada's dollar hovered close to parity with its U.S. counterpart on Thursday after the U.S. Federal Reserve's plans to keep rates low until 2014 drove down the U.S. dollar, but gains were pared by a slide in the euro as Greek debt talks produced few results.
TOKYO, Jan 27 (Reuters) - The yen nudged up broadly on exporter-led month-end buying on Friday, while the euro held onto hefty gains against the dollar after the Fed's pledge to keep rates near zero for the next three years encouraged dollar carry trades. More...

Jan-28 -- Obama administration expands foreclosure prevention program
Investors who rent out properties would also be able to access mortgage aid under the revamped program.
NEW YORK (CNNMoney) -- The Obama administration is taking another swing at improving its main foreclosure prevention program. More...

Jan-28 -- Iran's envoy to IAEA is hopeful on eve of nuclear watchdog visit
Since the U.N. watchdog lent independent weight in November to the suspicions of Western powers that Iran is using a nuclear energy program to give itself the ability to build atomic bombs, U.S. and EU sanctions and Iranian threats of reprisal against Gulf shipping lanes have disrupted world oil markets and pushed up prices.
Irans leaders know that sanctions bite. More...

Jan-28 -- Netflix video game rental idea is axed
The company's share price plummeted from $304 in July to $62 in November.
Netflix expects to lose between $9 million and $27 million in the first quarter of this year as it expands its streaming video service into international markets. More...

Jan-28 -- Eastman Chemical to buy Solutia for about $3.4 billion
US-based Eastman Chemical has agreed to acquire specialty chemicals group Solutia in a deal worth around $4.7 billion, including Solutia's debt, the companies said in a joint statement Friday.
Eastman's debt will near triple to 2.8 times Ebitda, said Carol Levenson, an analyst at Gimme Credit LLC in Chicago. More...

Jan-28 -- New unit to probe mortgage-backed securities
WASHINGTON — The Obama administration announced Friday a new inquiry to investigate fraud in the mortgage-backed securities market, whose billion-dollar implosion helped trigger the global financial crisis.
With strong opposition from the financial industry, Obama was unable to push the fee through the Democratic-controlled Congress. More...

Jan-28 -- Delta Weighs a US Air Deal
American Airlines, left out of the latest round of consolidation, filed for bankruptcy protection in November after losing billions of dollars in recent years.
Excluding charges, it earned 13 cents per share. More...

Jan-28 -- Regulators Close Four Banks
First Guaranty Bank and Trust's eight branches were scheduled to reopen Monday as branches of CenterState Bank of Florida, NA. The FDIC estimated that the cost of First Guaranty Bank ad Trust's failure to the deposit insurance fund would be $82.0 million.
Republic Bank assumed about $1 billion in TCB deposits, according to the bank's news release. More...

Jan-28 -- Ford has its strongest year in a decade
Profit fell in Ford's South American unit and the quarterly loss increased in Europe.
Success in North America fueled Ford's most profitable year since 1998, but fourth-quarter losses and uncertainty in Europe and Asia spooked the market Friday. More...

Jan-28 -- US Cattle Inventory Drops to Lowest Since 1952 on Drought
A record drought in Texas last year and rising feed costs prompted ranchers to cull herds, even as beef exports surged from the U.S., the world's largest producer.
Bearish factors include (1) record high prices that may curb demand, and (2) the cold storage report that showed beef cold storage stocks in Dec rose +2.2% m/m and +1.4% y/y. More...

Jan-28 -- Former Groupon sales reps countersue over tactics
Groupon in November sold shares in the biggest initial public offering for a U.S. Web company since Google, selling 35 million shares for $700 million.
The workers believe that clause is unenforceable and unnecessary as none had access to confidential, sensitive or proprietary information. More...

Jan-28 -- The Fed's open window
Jan. 27 (Bloomberg) -- Federal Reserve Bank of Richmond President Jeffrey Lacker said interest rates may need to rise before late 2014 to prevent an increase in inflation.
The yield on the current five-year Treasury note fell 10 basis points to 0.80 percent after touching the record low of 0.76 percent. More...

Jan-28 -- FDA seizes nearly 14% of imported orange juice over fungicide
Test results released Friday by the Food and Drug Administration found that 11 shipments of orange juice stopped at the
The front-month contract has gained 8% since the news that the FDA had begun testing orange-juice imports broke on Jan. 10. More...

Jan-28 -- Profit Slips for Chevron, Disappointing Analysts
At the end 2011, Chevron had $15.9 billion in cash and cash equivalents, according to a filing with the Security and Exchange Commission Friday.
Sales and other operating revenues in the fourth quarter 2011 were $58 billion, up from $52 billion in the year-ago period, mainly due to higher prices for crude oil and refined products. More...

Jan-28 -- Ky. to review how to restore bridge struck by boat
The Delta Mariner struck the main span of the Eggner Ferry Bridge on Thursday evening at U.S. Highway 68 and Kentucky Highway 80, said Keith Todd, spokesman for the Kentucky Transportation Cabinet.
A cargo ship carrying rocket stages headed for Cape Canaveral crashed into a bridge in Kentucky on Thursday, causing it to partially collapse. More...

Friday

Jan-27 -- Facebook Readies IPO Filing for Next Week
Facebook Inc. could file papers for an initial public offering as early as next week and is currently looking at a deal that would value the social network between $75 billion to $100 billion, said people familiar with the matter.
After years of speculation and anticipation on Wall Street and across Silicon Valley, Facebook may file for its initial public offering as soon as Wednesday of next week, according to a report citing people familiar with the matter. More...

Jan-27 -- Stocks Off Worst Levels, but Dow Still Drags
As of 12:00 p.m. ET, the Dow Jones Industrial Average fell 79.2 points, or 0.62%, to 12656, the SP 500 dipped 4 points, or 0.3%, to 1314 and the Nasdaq Composite rose 4.6 points, or 0.16%, to 2810.
At 8:30 am (ET), investors and economists will get a look at U.S. economic growth in the fourth quarter, with expectations that gross domestic product expanded by 3 per cent over the previous quarter, at an annualized pace. More...

Jan-27 -- Fourth Quarter GDP Fastest Of 2011 But Not Good Enough
U.S. gross domestic product is expected to have expanded at a 3.0 per cent annual rate in the fourth quarter, according to a Reuters poll, which would be a sharp acceleration from the 1.8 per cent clip of the prior three months and the quickest pace since the second quarter of 2010.
For the year, the U.S. economy grew just 1.7 percent, after expanding 3 percent in 2010. More...

Jan-27 -- Obama administration bolsters homeowner lifeline
For the proposal on principal writedowns to work, Fannie Mae and Freddie Mac's regulator, the Federal Housing Finance Agency, would need to first sign off.
Currently, the $50 billion HAMP program only covers costs for reducing principal on bank-held loans. More...

Jan-27 -- Fitch Cuts Italian, Spanish Ratings by Two Notches
WASHINGTON — Rating agency Fitch on Friday downgraded five eurozone countries, including Italy and Spain, citing their vulnerability to sharp turns in market sentiment amid Europe's debt crisis.
U.S. ratings agency Fitch says it is downgrading the credit ratings for five European nations including leading economic heavyweights Italy and Spain. More...

Jan-27 -- Brazil Juice Exporters Seek to Raise US Fungicide Limit
Test results released Friday by the Food and Drug Administration found that 11 shipments of orange juice stopped at the
Most of the orange juice being tested at U.S. ports, though, has proved to be negative. More...

Jan-27 -- Justice Dept. unit to probe mortgage-backed securities
WASHINGTON — The Obama administration announced Friday a new inquiry to investigate fraud in the mortgage-backed securities market, whose billion-dollar implosion helped trigger the global financial crisis.
The unit is intended to help "restore faith in our financial markets and institutions," Holder said. More...

Jan-27 -- North America boosts Ford in 4Q
Profit fell in Ford's South American unit and the quarterly loss increased in Europe.
The company's pension plans, worldwide, are underfunded by $15.4 billion -- up from $11.5 billion a year ago. More...

Jan-27 -- Brent up on Iran; refinery work lifts US gasoline
In a retaliatory move, Iran's parliament is expected to consider next week a bill to ban oil exports to Europe immediately before the embargo comes into force, according to media reports.
BANGKOK (AP) -- Crude prices were steady Friday amid a sliding U.S. dollar and expectations that Europe will be able to find oil elsewhere if Iran makes good on its threat to immediately halt exports to the region. More...

Jan-27 -- Union membership up slightly, outlook in doubt
In 2011, the union membership rate -- the percent of wage and salary workers who were members of a union -- was 11.8 percent, essentially unchanged from 11.9 percent in 2010, the U.S. Bureau of Labor Statistics reported today.
"We may have reached a level where the union numbers simply can't decline anymore, but if you're not expanding, how can you call yourself a movement?" Gary Chaison , a labor professor at Clark University in Worcester, Massachusetts , said in a telephone interview. More...

Jan-27 -- Buffett-style investor doubles stake in RIM
Heins has been with the Waterloo-based technology giant for five years, most recently as chief operating officer, and is thus tarred with some of RIM's recent missteps.
Share value has fallen further still so now the market cap is less than $8bn. More...

Jan-27 -- ECB's Draghi: credit crunch averted, bond spreads overshooting
You have (other) areas where credit is seriously impaired."
The European Central Bank (ECB) calculated in regular monthly data that growth in loans to the private sector slowed substantially, to just 1.0 percent in December from 1.7 percent in November. More...

Jan-27 -- Gold May Rise in London as Low Interest Rates Increase Demand
The survey of 45 analysts carried out by Reuters in January predicted an average spot gold price of $1,765 an ounce in 2012, 14 percent higher than last year's average of $1,544.
The physical market in Singapore saw a mixture of activity, with jewellers cashing in on gold following gains in prices, but trading was muted in Hong Kong, where many dealers had yet to return to work after the Lunar New Year break. More...

Jan-27 -- Eastman to Buy Solutia for $3.38 Billion to Gain Auto Chemicals
US-based Eastman Chemical has agreed to acquire specialty chemicals group Solutia in a deal worth around $4.7 billion, including Solutia's debt, the companies said in a joint statement Friday.
Specialty Plastics was the smallest of Eastman's four reporting segments during 2011 with sales of almost $1.2 billion. More...

Jan-27 -- Kentucky bridge collapses after being struck by cargo ship
Kentucky Transportation Cabinet engineers are getting a better look at damage to the U.S. 68/KY 80 Eggner's Ferry Bridge over Kentucky Lake at Aurora, KY Friday morning after a main span of the bridge was struck by a large cargo vessel about 8 p.m., CST Thursday night.
The ocean-going cargo vessel used to transport rocket stages from the manufacturing factory in Alabama to the two primary U.S. launch sites in Florida and California struck a bridge in southern Kentucky Thursday night, causing a section to collapse. More...

Jan-27 -- Energy Tax Breaks Proposed, Despite Waning Support for Subsidies
Solar was never intended to provide energy on a 24x7 basis, but instead it was intended to be a renewable energy source that would complement fossil fuels or other renewable energy sources.
Conservation, Passive Solar, Wind, PV, Waves, and Geo-thermal get my votes. More...

Jan-27 -- Oil Rises This Week as Gasoline Surges, Greece Nears Debt Deal
ATHENS/DAVOS (Reuters) - The European Union and IMF want Greece to push through more budget cuts and implement a series of long-agreed austerity reforms before they sign off on a new bailout the country needs to avert bankruptcy, a report obtained by Reuters shows.
ATHENS (Dow Jones)--The leader of Greece's small nationalist party Laos, which takes part in the coalition government, said Friday calls from the country's international creditors for written pledges on a second loan deal will be resisted, describing them as humiliating. More...

Jan-27 -- P&G Shares Down on Investor Disappointment
Absent the write down, which equated to $0.50 per share, earnings per share would have been flat, coming in at $1.10.
Net income in the fiscal second quarter declined 49 percent to $1.69 billion, or 57 cents a share, from $3.33 billion, or $1.11, a year earlier, the company said. More...

Jan-27 -- Chevron seeks 'fair treatment' from Brazil
At the end 2011, Chevron had $15.9 billion in cash and cash equivalents, according to a filing with the Security and Exchange Commission Friday.
Despite the Q4 loss, Delek said it expects to earn at least $154 million for the full 2011 year. More...

Jan-27 -- Iran moving closer to stage where it will be too late to destroy nuclear ...
The declaration came in reply to a call by the European Union foreign policy chief Catherine Ashton inviting Iran to pick up on issues left on the negotiating table in Istanbul a year ago when Iran last met with Britain, China, France, Germany, Russia and the United States.
A manager at the bank told Reuters that, as far as it was concerned, it was not in breach of U.S. financial sanctions. More...

Friday

Jan-27 -- US GDP Rises 2.8%
U.S. gross domestic product is expected to have expanded at a 3.0 per cent annual rate in the fourth quarter, according to a Reuters poll, which would be a sharp acceleration from the 1.8 per cent clip of the prior three months and the quickest pace since the second quarter of 2010.
“We are assuming that current (first) quarter growth slows to around 2 percent before re-accelerating next quarter and into the back half of the year. More...

Jan-27 -- Disappointing GDP Data Weigh on Futures
U.S. stocks rose, sending the Dow Jones Industrial Average to the highest level since May, as the Federal Reserve signaled low rates through at least late 2014 and didn't rule out bond purchases to bolster the economy.
NEW YORK: U.S. stock index futures rose on Thursday, adding to gains from the previous session when the Federal Reserve boosted equities by saying it was likely to keep interest rates near zero until at least late 2014. More...

Jan-27 -- Ford Posts Third-Straight Annual Profit
The loss mainly reflects net interest expense.
Fourth-quarter sales rose 6.5 percent to $34.6 billion as Ford boosted North American production by 14 percent during the period to 674,000 cars and trucks. More...

Jan-27 -- US GDP grows at a modest 2.8% rate in 4th quarter
Without more jobs and better pay, consumer spending is likely to stagnate.
Incomes, which have been weak all year because of high unemployment, grew at a modest 0.8 percent rate. More...

Jan-27 -- Geithner Hints at US Support for More IMF Funds
Treasury Secretary Timothy F. Geithner , the last member of the Obama administration's original economic team, said he doesn't expect to remain in office if the president is re-elected.
Geithner touted growth in several critical sectors, including manufacturing and energy. More...

Jan-27 -- Greece hopes keep stocks, euro supported
ATHENS/DAVOS, Jan 27 (Reuters) - The European Union and IMF want Greece to push through more budget cuts and implement a series of long-agreed austerity reforms before they agree on a new bailout the country needs to avert bankruptcy, a report obtained by Reuters shows.
The document does not specify the amount of cuts needed. More...

Jan-27 -- Futures Turn Lower After GDP Report
The European Central Bank's aggressive funding has driven down bond yields of indebted euro zone countries, with Italian 10-year yields falling below 6 percent for the first time in six weeks on Thursday, encouraged by strong short-term debt sales and the general positive momentum in markets inspired by the Fed. But Portuguese five- and 10-year government bond yields rose to euro-era highs on worries that the country may follow in Greece's footsteps and need a second bailout.
Equities are rising after European valuations fell to the lowest level since 2004 compared with the U.S. and analysts predicted profits among companies in the Stoxx 600 will climb an average of 9.5 percent in the next two years. More...

Jan-27 -- Iran could ban EU oil exports next week -lawmakers
LONDON, Jan 27 (Reuters) - Brent crude rose above $111 on Friday as comments from Iran that it might stop exports to the European Union intensified worries about security of supply, while positive economic data from the United States also acted as a support.
In other energy trading, heating oil rose three cents to finish at US$3.05 a U.S. gallon (3.79 litres) and gasoline futures rose about a penny to end at US$2.85 a gallon. More...

Jan-27 -- Why Ford Needs To Worry
The EcoBoost engine family is capable of delivering up to 20% better fuel economy than conventional engines and will be available in more high-volume name plates in Ford's line up this year.
Ford aims to more than triple production capacity of cars and SUVs using the Ecoboost units, led by the high-volume Escape and Fusion nameplates. More...

Jan-27 -- Bankers at Davos Humbler as Austerity Hits
Bankers feel under siege, and from the heights of Davos in the Swiss Alps they are looking to convince the world that they have a role to play in getting economies back on their feet.
LONDON Banks cut their lending to a number of countries in central and eastern Europe in the third quarter, and slashed their lending to troubled euro-zone economies. More...

Jan-27 -- Procter & Gamble net income falls on higher costs
Net sales growth is estimated to be in line with last year to up two percent.
The non-core items included a $0.50 per share non-cash impairment charge associated with the Appliances and Salon Professional businesses. More...

Jan-27 -- Euro ministers upbeat on Greece, crisis solution
Europe's financial chiefs have tried to soothe the fears of global chief executives and other political leaders, insisting they have a handle on the eurozone's troubles.
Financier George Soros led the way with a warning that German austerity could push Europe into a deflationary spiral. More...

Jan-27 -- Israel says world faces urgent challenge to stop Iran from 'drifting' into ...
The declaration came in reply to a call by the European Union foreign policy chief Catherine Ashton inviting Iran to pick up on issues left on the negotiating table in Istanbul a year ago when Iran last met with Britain, China, France, Germany, Russia and the United States.
To thwart Tehran's suspected nuclear program, the United States has tightened sanctions against the country, and now Europe has agreed to end its purchase of Iranian oil. More...

Jan-27 -- Eastman Buys Solutia for $4.7 Billion to Expand in Polymers
Shares loss 3.3% to $68.00 in recent premarket trading.
Performance Chemicals and Intermediates -- Sales revenue increased by 37 percent primarily due to higher selling prices and higher sales volume. More...

Jan-27 -- Marlboro maker Altria's 4Q net income falls 9 percent on charges, CEO to ...
The smokeless products segment's 2011 fourth-quarter and full-year net revenues and revenues net of excise taxes increased primarily due to higher volume and pricing. 2011 fourth-quarter and full-year net revenues increased 6.6% and 4.8%, respectively, and revenues net of excise taxes increased 6.8% for the fourth quarter and grew 5.0% for the full year of 2011.
Revenue, excluding excise taxes, increased 5 percent to $4.34 billion. More...

Jan-27 -- Canada's Dollar Rises Through Parity as Greek-Deal Bets Spur Risk Appetite
TORONTO (Reuters) - Canada's dollar hovered close to parity with its U.S. counterpart on Thursday after the U.S. Federal Reserve's plans to keep rates low until 2014 drove down the U.S. dollar, but gains were pared by a slide in the euro as Greek debt talks produced few results.
Canada's currency will rise to 95 cents per U.S. dollar, the Goldman analysts predicted. More...

Jan-27 -- Italian T-Bill Sale Boosts Hopes for Bond Auction
MILAN (Reuters) - Italy's borrowing costs dropped sharply as it sold the maximum amount of 5 billion euros at an auction of short-term debt on Thursday, helping drive down yields on its longer-dated bonds ahead of a crucial sale of five- and 10-year paper on Monday.
Italy's borrowing costs have dropped to around 6.0 percent for 10-year bonds, from an alarming 7.0 percent at the end of 2011. More...

Jan-27 -- Starbucks brews up Q4 earnings that beat the Street
Profit rose 10 percent to $382.1 million, or 50 cents per share, for the quarter that ended Jan. 1.
The premium single-cup segment that I'm speaking to, is a combination of all premium single-cup packs, priced at or above $0.50 per serving. More...

Jan-27 -- Amgen Offers $1.16B for Antibody Firm Micromet
Biotech giant Amgen, which said earlier on Thursday that it would pay $1.2 billion for leukemia drugmaker Micromet , reported fourth-quarter earnings that missed analyst expectations.
Revenue rose 3 percent to $3.97 billion. More...

Jan-27 -- BP Can't Collect Part of Gulf Spill Costs From Transocean
Swiss firm Transocean will have to pay pollution fines levied under the federal Clean Water Act and may be liable for a share of any punitive damages.
A spokesman for Transocean said the ruling confirms that BP is responsible for all economic damages caused by the leaked oil. More...

Friday

Jan-27 -- Stocks close lower, Dow near post-crisis peak
U.S. stocks rose, sending the Dow Jones Industrial Average to the highest level since May, as the Federal Reserve signaled low rates through at least late 2014 and didn't rule out bond purchases to bolster the economy.
The tech-rich Nasdaq Composite was the biggest gainer, adding 31.67 points (1.14 percent) to 2,818.31, lifted by Apple's record-breaking earnings reported after the market closed Tuesday. More...

Jan-27 -- CEO compensation: Starbucks' Schultz joins $50M-plus club
Profit rose 10 percent to $382.1 million, or 50 cents per share, for the quarter that ended Jan. 1.
Global same store sales increased 9% with a 20% gain in the China/Asia-Pacific region. More...

Jan-27 -- Parent of Obama-backed battery maker goes bankrupt
Ener1 -- an Indiana lithium-ion battery-maker whose subsidiary EnerDel received a $118.5 million grant from DOE as part of the 2009 stimulus -- has filed for Chapter 11 protection, the company announced Thursday.
The Obama administration has previously come under fire for a $535 million loan the Energy Department made to Solyndra, a California-based solar panel company. More...

Jan-27 -- Amgen to buy drug developer Micromet for $1.16 billion
Biotech giant Amgen, which said earlier on Thursday that it would pay $1.2 billion for leukemia drugmaker Micromet , reported fourth-quarter earnings that missed analyst expectations.
Revenue rose 3 percent to $3.97 billion. More...

Jan-27 -- Euro Falls as Greece, Creditors Wrangle Over Debt-Swap Agreement
Jan. 25 (Bloomberg) -- The euro fell for the first time in three days versus the dollar after the European Central Bank was said to oppose restructuring its Greek bonds, adding to concern the nation will fail to win a deal to reduce its debt.
QE1 saw a greater magnitude of initial dollar decline and the trend toward dollar depreciation was quicker to reassert itself in subsequent months, the firm noted. More...

Jan-27 -- Judge clears Transocean of some damages in Deepwater Horizon spill
BP must cover some but not all of oil rig owner Transoceans liabilities for the 2010 oil spill in the Gulf of Mexico, a U.S. judge has ruled.
District Judge Carl Barbier ruled that, under the terms of Transocean's drilling contract with BP, the rig owner is not liable for damage claims bought by third parties relating to any pollution beneath the surface of the water. More...

Jan-27 -- Greek talks with private creditors continue
Greece has said it doesn't want to pay a coupon of more than 3.5 percent on the new bonds, while private creditors are demanding an interest rate of at least 4 percent.
LONDON -- So much for that big fat Greek payday. More...

Jan-27 -- Smartphones power record Samsung profit
The South Korean firm, the world's top technology firm by revenue, is locked in breakneck competition with Apple Inc in the red-hot smartphone market.
Handset demand increased 10% due to "strong seasonality" referring to the crucial Christmas sales period which saw sales of flagship Galaxy S II and mass market Ace and Y. Smartphones led mobile growth, Samsung confirmed in an earnings presentation today, and its bulging phone division accounted for half of their sales of $21 billion and 40% of profits. More...

Jan-27 -- Poll: Oil Markets Seen Withstanding Iran Attack
In a potential election match-up between Obama, 50, and Romney, 64, a former private equity executive, global respondents are split, with 41 percent choosing each as better for the world economy.
The record low in the history of the poll was 12 percent, set in October 2008, right before that year's elections. More...

Jan-27 -- Iran Says It May Cut Off Its Oil Exports to Europe
The declaration came in reply to a call by the European Union foreign policy chief Catherine Ashton inviting Iran to pick up on issues left on the negotiating table in Istanbul a year ago when Iran last met with Britain, China, France, Germany, Russia and the United States.
Iran previously had two official exchange rates: one of 11,300 rials to the dollar at the bank for state operations and official imports, and a variable rate for businesses and individuals to purchase from foreign exchange offices. More...

Jan-27 -- New Frontier Airlines chief sets course for new owner, better Denver ties
Republic Airways (NASDAQ: RJET) today announced that David Siegel will join the Company as CEO, President, and interim Chief Operating Officer of Frontier Airlines, a wholly owned subsidiary of Republic Airways Holdings, Inc. Siegel's appointment is another step towards the goal of making Frontier Airlines a viable, strong and independent business.
Placing Frontier in Dave's capable care affords me the opportunity to fully focus my time and energy on the regional airline segment of our business," Bedford said. More...

Jan-27 -- IMF: halt in Iran oil could push crude up 30 percent
SINGAPORE: Crude oil rose for a second day on Thursday in New York on speculation that Federal Reserve plans to keep U.S. interest rates near a record low will bolster investor demand for commodities.
Iran holds around 137 billion barrels of proven oil reserves, or nearly 10 percent of the world total, according to the BP Statistical Review of World Energy 2011. More...

Jan-27 -- Barclays Capital (BCS) Analysts Reaffirm an "Overweight" Rating on Netflix (NFLX)
Netflix ( NFLX ) shares are up $21.06, or 22%, at $116.10, after the company last night reported Q4 results and a Q1 outlook that topped analysts' expectations.
Today's stock market environment is marked by a What Have You Done For Me Lately? mentality, especially when it comes to a company's performance. More...

Jan-27 -- Riverbed Shares Drop After Sales, Profit Forecasts Fall Short
In the fourth quarter, Cascade product revenue increased more than 75% over Q4 of last year and for the year contributed $50 million to total revenue.
Jan 26 (Reuters) - Riverbed Technology Inc forecast a bleak first quarter as the network equipment maker expects disruption in product sales, sending its shares down more than 14 percent in trading after the bell. More...

Jan-27 -- CORRECTED-UPDATE 2-Juniper's weak Q1 forecast stings shares
Riverbed was up 1.2% at $29.92 today but now the stock is down almost 13% in the after-hours session to $26.00 per share in active trading.
For the year ended December 31, 2011, Juniper repurchased 17.5 million shares, at an average share price of $30.93 per share, for a total of $541.2 million, which largely offset stock issued through our employee equity programs. More...

Jan-27 -- United costs wipe out higher fare gains
The good news continued Thursday for the U.S. airline industry as United Continental Holdings (UCH), parent of merger partners United Airlines (UA) and Continental Airlines (CO), reported 2011 net income of $840 million.
The company, still listed on the New York Stock Exchange as UAL, said revenue during the fourth quarter rose 5.5% year on year to $8.9bn while consolidated passenger revenue increased by 5.6% to $7.8bn, compared with the same period in 2010. More...

Jan-27 -- Abilenians won't be making run to the border for new Taco Bell breakfast just yet
Taco Bell wants you to come in for desayuno.
The car, the drive through, the cash exchange. More...

Jan-27 -- Bernanke to Revisit Teaching With Class on Fed
The Fed said the economy had expanded "moderately" in recent weeks, but unemployment remained high, the housing sector was still in deep depression, and the problems in Europe continued to threaten the domestic economy.
Investors are more worried about inflation despite the Federal Reserve's attempts to calm such fears. More...

Jan-27 -- Revamped Search Urged For a Nuclear Waste Site
The Commission recommends that the responsibility for the nation's nuclear waste management program be transferred to a new organization; one that is independent of the DOE and dedicated solely to assuring the safe storage and ultimate disposal of spent nuclear waste fuel and high-level radioactive waste.
The strategy outlined in the Commission report contains three crucial elements. More...

Jan-27 -- 3M board split over CEO Buckley's contract extension - WSJ
The company agreed to pay $550 million to buy Avery Dennison Corp.' s office products unit, the market leader in the label business.
Here's an urgent Post-it note for 3M Co.: Decide who's in charge. More...

Thursday

Jan-26 -- Netflix Shares Surge on Subscriber Growth
The company's share price plummeted from $304 in July to $62 in November.
Analysts on average had been modeling $857.4 million and 54 cents a share. More...

Jan-26 -- Stocks Slouch Toward the Close
U.S. stocks rose, sending the Dow Jones Industrial Average to the highest level since May, as the Federal Reserve signaled low rates through at least late 2014 and didn't rule out bond purchases to bolster the economy.
NEW YORK (Dow Jones)--U.S. stock futures were mostly lower Wednesday morning as the lack of a Greek debt deal increased investor anxiety ahead of the Federal Reserve's policy statement, while Apple's exceptional quarterly results helped prop up the technology sector. More...

Jan-26 -- Taco Bell to begin serving breakfast, some stores open 24-hours
It's getting a little crowded in the breakfast nook.
Taco Bell has been testing the breakfast items for the last five years, according to the OC Register. More...

Jan-26 -- Fed's Bernanke to testify on economy on February 2
Jan. 26 (Bloomberg) -- Oil rose for a second day in New York, reaching a one-week high on speculation that Federal Reserve plans to keep U.S. interest rates near a record low will bolster investor demand for commodities.
"Oil prices are getting bid up as part of the wider risk-on trade triggered by the FOMC promise of low interest rates through late 2014, but Libyan oil production has reportedly hit 1.3 million barrels per day in a faster-than-expected recovery that adds to a likely first half 2012 supply/demand surplus," said Tim Evans, energy analyst at Citi Futures Perspective in New York. More...

Jan-26 -- Amgen buys Micromet for anti-leukemia drug
This morning before the start of trading on the New York Stock Exchange and Nasdaq Amgen (NASDAQ: AMGN) announced that it was purchasing biotech company Micromet Incorporated (NASDAQ: MITI) for a blockbuster $1.16 billion acquisition.
The webcast of the conference call, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. More...

Jan-26 -- Caterpillar profit jumps 58 percent
The outlook includes about $6 billion in revenue from Bucyrus and from Motoren-Werke Mannheim Holding GmbH, which Caterpillar also bought last year.
Caterpillar is capitalizing on increasing investment from producers of coal, copper and iron ore to meet rising demand from emerging economies. More...

Jan-26 -- Regional Bank Earnings Roundup
The margin at U.S. banks with more than $15 billion in assets fell to 3.44 percent in the third quarter of 2011, from 3.85 percent in the first quarter of 2010, according to Fed data.
"Wells had a very strong quarter in multiple respects," analyst Dick Bove of Rochdale Securities told clients. More...

Jan-26 -- Penney Says Earnings Won't Suffer in Transformation
J.C. Penney Co. (JCP) Chief Executive Officer Ron Johnson today laid out his plans to revive the retailer, starting with an overhaul of pricing and store layouts.
Now, I wouldn't wait for it to go on sale," Lewis said. More...

Jan-26 -- Money Minute: A lousy year for new-home sales [Video]
The seasonally adjusted estimate of new houses for sale at the end of December was 157,000 -- a supply of 6.1 months at the current sales rate.
The median home price for homes sold during December was $210,300 and there was a 6.1-month supply of homes at the current rate of sales. More...

Jan-26 -- Dec. new home sales fall, 30-year mortgage rates rise
A year ago, the interest rate on the 15-year loan was at 4.08 percent.
U.S. 30-year fixed-rate mortgage rates jumped to 3.98 percent in the week ending Jan. 26, up from a record low of 3.88 percent in the previous week , Freddie Mac ]] Freddie Mac. More...

Jan-26 -- Treasuries Gain With Commodities on QE Bets as US Stocks Drop
The 30-year Treasury bond yield declined five basis points before the government sells $29 billion of seven-year notes, following a $35 billion five-year auction yesterday and a $35 billion sale of two-year securities on Jan. 24.
NEW YORK (Reuters) - Treasury debt prices rose on Thursday, and five-year note yields dipped to the lowest level since at least the 1960s, a day after the Federal Reserve said it will likely hold interest rates near zero at least through late 2014. More...

Jan-26 -- Nuclear Waste Panel Urges 'Consent-Based' Approach
The Commission recommends that the responsibility for the nation's nuclear waste management program be transferred to a new organization; one that is independent of the DOE and dedicated solely to assuring the safe storage and ultimate disposal of spent nuclear waste fuel and high-level radioactive waste.
The Nuclear Waste Policy Act should be amended so that a temporary storage facility can be created before a repository is built, and Congress will need to approve the transfer of nuclear-waste management to a new, government-chartered corporation, according to the report. More...

Jan-26 -- Gold hits 6-1/2 week high as Fed news lifts markets
March silver last traded up $1.135 an ounce at $33.11.
The spot price for gold was around $1,725 by 2 p.m. Eastern time after jumping more than $60 since the day before, up almost 30 percent from a year ago and more than 7.5 percent over the last 30 days. More...

Jan-26 -- Ahmadinejad says Iran is ready to return to nuclear talks but Tehran's foes ...
Ever since the United Nations released a report that said Iran had worked on and may be working on building a nuclear weapons, Iran has been pounded by international sanctions.
At the very least, China would want to maintain a common anti-sanctions front with Russia on the United Nations Security Council--ensuring that the American and European embargoes are not supplemented by UN sanctions. More...

Jan-26 -- ZeaChem wins conditional loan guarantee for plant
"Advanced biofuels are critical to securing America's energy future," said U.S. Agriculture Secretary Tom Vilsack.
CEO Jim Imbler called the conditional award a "significant milestone" on a conference call with reporters. More...

Jan-26 -- Ex-BofA broker faces £350000 fine after action against Einhorn
LONDON/NEW YORK (Reuters) - David Einhorn's reputation as one of the hedge fund industry's most respected investors took a bit of a hit on Wednesday when Britain's financial regulator imposed a 7.2 million pound fine on him and his Greenlight Capital fund for alleged trading abuses.
Greenlight Chairman Einhorn, 43, was told of Punch Taverns' equity fundraising by a corporate broker representing the company, the FSA said in an e-mailed statement today. More...

Jan-26 -- Spirit Airlines lashes out against new airfare rule
While total ticket costs won't change, airlines and travel agencies now must show an all-in number that combines the base fare with all required taxes and fees, according to the U.S. Transportation Department.
Spirit airlines has a scuba tank fee, just in case you want to bring your own air. More...

Jan-26 -- Bill Gates tells Davos 'economic crisis is not an excuse for cutting aid'
DAVOS, Switzerland — Microsoft founder Bill Gates unveiled Thursday a $750 million donation to the UN Global Fund to fight AIDS, tuberculosis and malaria, saying the downturn must not trigger a fall in aid.
The new commitment is in addition to the $650 million the Gates Foundation has already contributed since the Global Fund was launched 10 years ago at the World Economic Forum, which convenes the world's top business and political leaders. More...

Jan-26 -- Illumina adopts poison pill to stave off Roche
Illumina's board Wednesday urged shareholders not to take action until it reviews the proposal and makes a recommendation.
Roche said executives of the two companies first met on Dec. 13. More...

Jan-26 -- What's behind Netflix's 20% spike?
Netflix ( NFLX ) shares are up $21.06, or 22%, at $116.10, after the company last night reported Q4 results and a Q1 outlook that topped analysts' expectations.
Today's stock market environment is marked by a What Have You Done For Me Lately? mentality, especially when it comes to a company's performance. More...

Thursday

Jan-26 -- Bernanke Makes Case for More Bond Buying
Jan. 26 (Bloomberg) -- Oil rose for a second day in New York on speculation that Federal Reserve plans to keep U.S. interest rates near a record low will bolster investor demand for commodities.
Then when the European sovereign debt muddle really turned to custard the RBA board quickly cut rates twice, in November and December, with the possibility of more to come in February and March. More...

Jan-26 -- AT&T Posts Big Quarterly Loss, Driven by Charges
U.S. mobile carrier AT&T has announced its latest financial results which cover the last quarter of 2011, and the company sold a total of 9.4 smartphones in quarter four of 2011.
In the absence of the T-Mobile network, and a year behind Verizon Wireless in the construction of a higher-speed LTE network, AT&T may have to increase spending in 2012, Synesael said. More...

Jan-26 -- Caterpillar's Profit Rises 60%
The company said prospects for economic growth have improved over the past quarter, and it expects the world economy to grow about 3.3% in 2012, a small improvement from about 2.8% in 2011.
Sales rose 35 percent to $17.24 billion, above Wall Street estimates of $16.05 billion. More...

Jan-26 -- Jobless claims rise, but trend shows improvement
Payrolls climbed by 200,000 workers in December after rising by 100,000 the prior month, and the jobless rate fell to 8.5 percent, the lowest level in almost three years, Labor Department figures showed on Jan. 6.
While last week's rise partially unwound the prior week's sharp decline, claims still held below the 400,000 mark that is usually associated with labor market healing. More...

Jan-26 -- Durable-Goods Orders Jump
The Commerce Department also has some good news on the economy: Orders for durable goods rose 3 percent, last month.
Nondefense new orders for capital goods in December increased $4.6 billion or 5.8 percent to $84.4 billion. More...

Jan-26 -- Amgen to Buy Biotech Micromet for $1.16 Billion
The acquisition, valuing Micromet at nearly $1.16 billion, includes blinatumomab, a Bispecific T cell Engager or BiTE antibody in Phase 2 clinical development for acute lymphoblastic leukemia or ALL. Blinatumomab is also in clinical development for the treatment of non-Hodgkin's lymphoma, and could have applications in other hematologic malignancies.
Not to be left out of the M&A rush, Amgen said this morning that it will buy German/U.S. cancer drug developer Micromet ( $MITI ) for $1.16 billion. More...

Jan-26 -- United Continental Loss Narrows
Passenger revenue per available seat mile (cents) 11.77 10.96 7.4 11.84 10.85 9.1 Average yield per revenue passenger mile (cents) 14.36 13.26 8.3 14.29 12.94 10.4 Average fare per passenger $269.82 $242.95 11.1 $269.56 $240.09 12.3 Cost per available seat mile (CASM) (cents): CASM (a) 13.88 13.07 6.2 13.15 12.00 9.6 CASM, excluding special items (b) 13.41 12.16 10.3 12.88 11.69 10.2 CASM, excluding special items and ancillary business expenses (b) 13.29 12.03 10.5 12.77 11.57 10.4 CASM, excluding special items, ancillary business expenses and fuel (b) 8.52 8.38 1.7 8.24 8.06 2.2 CASM, holding fuel rate and profit sharing constant, excluding special items and ancillary business expenses (b) 12.12 12.03 0.7 11.74 11.57 1.5 Average price per gallon of jet fuel (cents) (c) 318.5 243.2 31.0 300.8 232.8 29.2 Average price per gallon of jet fuel excluding non-cash net MTM impact (cents) (c) 318.5 241.4 31.9 300.8 231.9 29.7 Average price per gallon of jet fuel excluding fuel hedge impact (cents) (c) 315.6 243.6 29.6 316.0 229.1 37.9 Fuel gallons consumed (millions) 789 818 (3.5) 3,303 3,333 (0.9) Aircraft in fleet at end of period 701 710 (1.3) 701 710 (1.3) Average stage length (miles) (d) 1,850 1,777 4.1 1,844 1,792 2.9 Average daily utilization of each aircraft (hours) 10:14 10:24 (1.6) 10:42 10:46 (0.6) Regional: Passengers (thousands) 11,231 11,316 (0.8) 45,439 46,098 (1.4) Revenue passenger miles (millions) 6,339 6,337 0.0 25,768 25,961 (0.7) Available seat miles (millions) 8,078 8,160 (1.0) 33,091 33,034 0.2 Passenger load factor 78.5% 77.7% 0.8 pts. 77.9% 78.6% (0.7) pts.
Jan. 26 (Bloomberg) -- United Continental Holdings Inc.' s fourth-quarter profit slid 32 percent, less than analysts anticipated as higher fare helped mute fuel costs. More...

Jan-26 -- Dimon: Impact of Greek Default on US Banks Almost Zero
FBN's Charlie Gasparino spoke exclusively with JPMorgan ( JPM ) CEO Jamie Dimon from the JPMorgan's New York headquarters about the health of the company, financial regulation, and the United States economy.
Part of that is because we have enormous market making. More...

Jan-26 -- Taco Bell enters breakfast arena
Plans have been in the works for Taco Bell breakfast for more than a year .
The classic breakfast brands you love are coming to the First Meal." More...

Jan-26 -- US Stock Futures Rise; Dow Average May Extend Eight-Month High
Jan. 26 (Bloomberg) -- U.S. stock futures advanced, indicating the Standard & Poor's 500 Index will gain for a second day, after earnings at companies including Caterpillar Inc. and Netflix Inc. exceeded analysts' projections.
S&P 500 ( SPX ), Dow Jones industrial average ( INDU ) and Nasdaq ( COMP ) futures were up between 0.2% and 0.5% ahead of the opening bell after a report on initial unemployment claims was slightly worse than expected but remained below 400,000. More...

Jan-26 -- Foreclosures made up 20% of home sales in 3Q
The third-quarter U.S. Foreclosure Sales Report, released Thursday by California-based RealtyTrac ( www.realtytrac.com ), a leading online marketplace for foreclosures, also shows that sales of homes in some stage of foreclosure accounted for 20 percent of all U.S. residential sales, down from 22 percent in the second quarter and 30 percent in the third quarter of 2010.
The smallest discounts are generally in places hardest hit by foreclosures. More...

Jan-26 -- Roche's Illumina Bid May Spur Buying in DNA Test Land Grab
The company today said it adopted a shareholder rights agreement, a takeover defense known as a "poison pill" that can block a hostile bid by making it prohibitively expensive.
"Roches all cash offer represents full and fair value for Illumina," said the firms chief executive Severin Schwan. More...

Jan-26 -- Celgene to buy Avila for $350M cash; net rises
The jewel in Avila's crown is AVL-292, a Btk inhibitor now in Phase I. The dealmakers involved in the buyout snagged a $195 million commitment for milestones leading up to a potential approval for that program.
"Celgene's global leadership in hematology and emerging franchise in immune-inflammatory diseases will accelerate and expand the clinical development of our Btk inhibitor program. More...

Jan-26 -- JC Penney, Wal-Mart: Hot Trends
J.C. Penney Co. (JCP) Chief Executive Officer Ron Johnson today laid out his plans to revive the retailer, starting with an overhaul of pricing and store layouts.
The company also announced a partnership with Ellen DeGeneres to participate in promotions. More...

Jan-26 -- Facebook Trading Is Said to Be Halted for Three Days on Secondary Markets
Facebook is suspending for three days trades of its stock on the private secondary market, fuelling expectations that the social networking site will soon file for IPO (initial public offering).
Facebook has remained tight-lipped about when it will go public but the rumor mills are gaining fodder that the announcement and filing with the SEC could come before the close of the year. More...

Jan-26 -- Netflix hails successful UK launch
Analysts project Netflix, the operator of an online and mail-order movie rental service, will post fourth-quarter profit of 54 cents a share, the average of 29 estimates compiled by Bloomberg and a drop from 87 cents a year earlier.
Netflix has expanded its service to the U.K. And the company has said it expects the cost of its expansion to contribution to operational losses this year. More...

Jan-26 -- Time Warner Cable profit up, dividend lifted
The No. 2 U.S. cable provider said fourth-quarter profit rose to $564 million, or $1.75 a share, from $392 million, or $1.09 a share, last year.
Residential services revenues grew 2.7% year-over-year to $17.1 billion, business services revenues increased 32.7% to $1.5 billion, while advertising revenues were flat at $880 million and other revenues increased 1.7% to $233 million. More...

Jan-26 -- Italy sees borrowing costs drop sharply as it raises 5 billion from markets
MILAN (Reuters) - Italy's borrowing costs dropped sharply as it sold the maximum amount of 5 billion euros at an auction of short-term debt on Thursday, helping drive down yields on its longer-dated bonds ahead of a crucial sale of five- and 10-year paper on Monday.
The Italian yield spread over bunds narrowed 13 basis points to 4.16 percentage points. More...

Jan-26 -- Charges Dent Lockheed Martin's Profit
Operating profit in the IS&GS segment increased $55 million, or 28 percent, during the quarter ended Dec. 31, 2011 and $60 million, or 7 percent, during the year ended Dec. 31, 2011, compared to the corresponding periods in 2010.
WASHINGTON (Reuters) - Lockheed Martin Corp, the Pentagon's largest supplier, forecast broadly flat sales and operating profit for 2012, with a record high order backlog helping it to cope with cuts in U.S. defense spending. More...

Jan-26 -- NEC to Cut 10000 Jobs on Forecast of Third Loss in 4 Years
The firm will cut 7,000 jobs in Japan, and 3,000 elsewhere, which will cost it 40bn yen.
Most of the job cuts will come from NEC's mobile-phone handset business and may begin March 31, Endo said. More...

Thursday

Jan-26 -- PRECIOUS-Gold rises to 6-week high on Fed rate vow
The central bank's ability to forecast that far out is limited, Bernanke says, and the Fed could adjust the timetable for when it will raise rates if economic conditions change.
The rate has stood at a rock-bottom 0-0.25 percent for three years, and the Fed had previously projected it would stay at or near that point only through the middle of 2013 before moving higher. More...

Jan-26 -- Netflix customers return in 4Q; stock soars 16 pct
Analysts project Netflix, the operator of an online and mail-order movie rental service, will post fourth-quarter profit of 54 cents a share, the average of 29 estimates compiled by Bloomberg and a drop from 87 cents a year earlier.
Currently, Amazon's Instant Video is tied to the company's $79-a-year Amazon Prime shipping service. More...

Jan-26 -- South Korea GDP Growth Slows
BOK Gov. Kim Choong-soo said after the Jan. 13 monetary policy meeting that downside risks to growth in the global economy are getting bigger and domestic economic growth will remain subdued for some time due largely to the impact of external risks.
The report, which was earlier submitted to a Group of 20 nations Deputy Finance Ministers meeting held in Mexico from Jan. 19 to Jan. 20, didn't provide details for the basis of the fund's downward revision. More...

Jan-26 -- JC Penney to Change Prices as CEO Johnson Remakes Retailer
J.C. Penney Co. (JCP) Chief Executive Officer Ron Johnson today laid out his plans to revive the retailer, starting with an overhaul of pricing and store layouts.
Certainly, if what JC Penney wants to become the kind of department store-cum-theater of old where, as Francis puts it, there's a "show every day," there's a long way to go. More...

Jan-26 -- IAEA Inspects Safety Procedures At Japan Nuclear Plant
Tepco, which is now widely expected to be effectively nationalised, needs to cut costs as it grapples with a massive cleanup and compensation bill after the nuclear crisis at its Fukushima plant as well as a jump in fuel costs as reactors remain closed amid public safety fears.
The fossil fuel division accounts for some 60 percent of Tepco's power generation capacity. More...

Jan-26 -- Apple vies for most valuable company title
Apple absolutely smashed Q1 estimates with a reported $13 billion profit and record iPhone, iPad, and Mac sales.
The quarterly results blew away analysts predictions of $9.6 billion in profits. More...

Jan-26 -- Ex-Stanford employee tells jurors he saw problems
The dreams of people saving for retirement or for their children's education were ruined as Texas financier R. Allen Stanford used money they deposited in his Caribbean bank to instead support his lavish billionaire lifestyle, a prosecutor said Tuesday at his fraud trial.
Arguments in that case start in federal court in Washington on Tuesday. More...

Jan-26 -- Spirit Airlines fights back against Transportation Department rules
Beginning Thursday, airline passengers will notice an increase in U.S. airline fares as the Department of Transportation requires carriers, ticket and travel agents to include all mandatory taxes and fees in published fares, industry officials said.
The rules make it easier for travelers to compare prices across airlines, said consumer advocate Ed Perkins of SmarterTravel.com . More...

Jan-26 -- Down the Apple food chain, profits and some worry
Many are virtual unknowns, sporting names like TriQuint Semiconductor, Aphenol and the hopeful-sounding Skyworks Solutions, but that may be why they're doing so well.
Before it shot up recently, the stock of TriQuint, a supplier of power amplifiers that help iPhones communicate with cell towers, was falling fast. More...

Jan-26 -- Facebook Trading Is Said to Be Halted for Three Days on Secondary Markets
Facebook is suspending for three days trades of its stock on the private secondary market, fuelling expectations that the social networking site will soon file for IPO (initial public offering).
The move comes as investors eagerly wait for Facebook's prospectus, the first public step toward an I.P.O. The Internet company is widely expected to pursue a multibillion-dollar offering in the second quarter, at a valuation near $100 billion, according to people close to the company. More...

Jan-26 -- Davos Delegates Say EU Must Show Resolve Amid Greek Split
Prime Minister Stephen Harper is in Davos, Switzerland to attend the World Economic Forum, a gathering of more than 2,600 business and government leaders.
"I think we have three to four years in the West to improve the economic model that we have, and if we don't do that soon I think we've lost the game," warned David Rubenstein, managing director of the Carlyle investment fund. More...

Jan-26 -- Uphill Fight Awaits New Mortgage-Fraud Unit
"Tonight, I am asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis.
The co-chair, Lanny Breuer, along with DoJ chief Eric Holder, hail from white shoe Washington law firm Covington & Burling, which has deep ties to the financial services industry. More...

Jan-26 -- PRESS DIGEST - Financial Times - Jan 26
LONDON/NEW YORK (Reuters) - David Einhorn's reputation as one of the hedge fund industry's most respected investors took a bit of a hit on Wednesday when Britain's financial regulator imposed a 7.2 million pounds ($11 million) fine on him and his Greenlight Capital fund for alleged trading abuses.
If you believe that under UKs rules, Punch can just call up a shareholder and against his will reveal to him material non-public information, thereby leaving him restricted, Einhorn still probably has an easy way to unrestrict himself. More...

Jan-26 -- Will Gene Sequencing Soon Be Part of Your Doctor Visit?
Illumina's board Wednesday urged shareholders not to take action until it reviews the proposal and makes a recommendation.
A year earlier, Roche snapped up diagnostics company Ventana Medical Systems for $3.4bn, having increased its original offer by 19pc. More...

Jan-26 -- Hong Kong Stocks Advance as Fed Pledges Low Rates Until 2014
In 2009, a small group of Harvard Law School students noticed an absurd monopoly in the bar prep space, held by an unchallenged leader with a non-evolving product.
BANGKOK (AP) -- Asian stock markets were mostly higher Thursday after the U.S. central bank pledged to keep interest rates low for another three years to nurture the country's stubbornly slow economic recovery. More...

Jan-26 -- Nikkei falls back from 3-month high, Fanuc disappoints
Sony, Panasonic regain ground ahead of earnings By Mari Saito TOKYO, Jan 25 (Reuters) - The Nikkei average climbed to a fresh three-month high on Wednesday, boosted by gains in blue-chip exporters like Toyota Motor, while market attention turned from the stalled Greek debt talks to a Federal Reserve meeting later in the day.
AUTOS SURGE Toyota Motor Corp jumped 2.9 percent to top the Topix core 30 list of blue-chip firms. More...

Jan-26 -- Symantec Forecast Misses Estimates as Consumer Demand Dips
Officials with McAfee did not immediately respond to a request for comment on Symantec's claim that it had won business away from McAfee.
Symantec had $184 million remaining in the current board authorized stock repurchase plan at the end of the December quarter. More...

Jan-26 -- SanDisk Fourth-Quarter Sales Rise on Nand Memory-Chip Demand
Last quarter, the company beat estimates by one cent, coming in at profit of 26 cents a share versus the estimate of net income of 25 cents a share.
SanDisk's gross margin and operating margin witnessed downside during the fourth quarter and the guidance during the conference call indicate that it will be further down in the first quarter thus affecting profitability. More...

Jan-26 -- Merkel Makes Davos Appeal to Investors for Time to Solve Crisis
Angela Merkel has today warned that Germany can't be relied on to bail out everybody else.
The German leader told the World Economic Forum in Davos that a 'big rethink' was needed but Mr Cameron will today chide Europe's leaders and demand less EU interference. More...

Jan-26 -- Futures Industry Sees Chance to Shape Oversight
By BEN PROTESS and AZAM AHMED Andrew Harrer/Bloomberg News Terrence Duffy, chairman of the CME Group, was among the 40 or so people at a recent meeting to discuss futures regulation.
A spokeswoman for the CME noted that firms must "maintain internal controls to ensure the customer segregation funds are held separately and meet compliance levels." More...

Wednesday

Jan-25 -- Fed Says Benchmark Interest Rate Will Remain Low Until at Least Late 2014
The central bank's ability to forecast that far out is limited, Bernanke says, and the Fed could adjust the timetable for when it will raise rates if economic conditions change.
Specifically, participants projections for the growth rate of real gross domestic product in 2012 and the central tendency of 2.2 to 2.7 percent. More...

Jan-25 -- As IPO Looms, Facebook Halts Clearing of Trades
The letter, from the law firm Fenwick & West, did not provide a reason for temporarily halting private transactions of Facebook shares.
The decision does not necessarily mean that the company is getting closer to filing it. More...

Jan-25 -- Wall Street gains on Fed statement, Apple results
NEW YORK (Reuters) - The dollar weakened and world stocks rose on Wednesday after the Federal Reserve encouraged investors with a promise to keep U.S. interest rates at ultra-low levels at least until late 2014 to support the economic recovery.
According to preliminary results, the Dow was up 81 points, or 0.6%, to 12,757. More...

Jan-25 -- Penney clears out clearance with new pricing plan
Jan. 25 (Bloomberg) -- J.C. Penney Co. Chief Executive Officer Ron Johnson said the retailer will offer three types of prices and overhaul store layouts as part of his plan to revive the department-store chain.
J.C. Penney Co. Inc. CEO Ron Johnson today presented a four-year plan that he says will establish J.C. Penney as America's favorite store. More...

Jan-25 -- Apple takes No. 1 again from Exxon
Shares of the company, which reported results for its first full quarter without charismatic founder Steve Jobs, were up as much as 8 percent in early trading to $454.45.
Apple said it sold 5.2 million Macintoshes during the holiday quarter, 26 per cent more than it did a year earlier. More...

Jan-25 -- Merkel Pleads for Patience to Let Europe Solve Its Problems
German Chancellor Angela Merkel has expressed determination to solve Europe's debt crisis through greater political unity, but dashed hopes of a big injection of money for the region's bailout fund.
The previous month, as Italian yields topped the 7 percent level that triggered bailouts for Greece, Ireland and Portugal, Prime Minister Silvio Berlusconi quit and was replaced by Mario Monti, a former economics professor. More...

Jan-25 -- Roche Gets Personal With Illumina
Illumina's board Wednesday urged shareholders not to take action until it reviews the proposal and makes a recommendation.
"Roches all cash offer represents full and fair value for Illumina," said the firms chief executive Severin Schwan. More...

Jan-25 -- Stanford Told 'Lie After Lie' to Investors, US Prosecutor Says
The dreams of people saving for retirement or for their children's education were ruined as Texas financier R. Allen Stanford used money they deposited in his Caribbean bank to instead support his lavish billionaire lifestyle, a prosecutor said Tuesday at his fraud trial.
Angela Shaw, the founder and director of the Stanford Victims Coalition, said the SEC's decision was not based on politics. More...

Jan-25 -- UK Fines Einhorn in Trading Case
Britain's Financial Services Authority (FSA) said on Wednesday it had fined Einhorn 3.64 million pounds ($5.67 million) and his Greenlight Capital 3.65 million pounds for market abuse.
Einhorn's Greenlight Capital held 13.3% of Punch, the FSA said. More...

Jan-25 -- Eric Schneiderman promises aggressive financial fraud probe
State Attorney General Eric Schneiderman has taken a hard line on the nation's mortgage crisis.
The new unit that the AG will co-chair with senior officials in the IRS, SEC, and Department of Justicewill be charged with holding lawbreaking institutions accountable, provide relief and compensation to homeowners, and help close the book on the mortgage crisis. More...

Jan-25 -- ECB split on how to handle any Greek bond losses: sources
LONDON (Reuters) - Treasuries rose on Wednesday as fears over the prospect of an unruly Greek default soured demand for riskier assets such as equities, fueling a renewed flight to quality.
Sovereign restructuring experts warned about the implications of a delay last year. More...

Jan-25 -- Abbott Labs cuts 700 jobs amid drop in heart stent orders, posts higher 4Q profit
In the full 2011, analysts estimate profit rose 11.5% to $4.65 a share, while sales climbed 11% to $39 billion.
The outlook is stronger for some of Abbott's other units, which include medical devices, generic drugs, diagnostics and nutritionals. More...

Jan-25 -- Illinois sues S&P over ratings, alleges fraud
Illinois Attorney General Lisa Madigan has filed a lawsuit against Standard & Poor's claiming the credit ratings agency fraudulently gave high ratings to risky mortgage-backed investments in the years prior to the 2008 housing market crash.
Madigan said Illinois' case has become stronger as more evidence has come to light. More...

Jan-25 -- Sierra Nevada chooses NC for East Coast expansion
RALEIGH, N.C. -- West Coast craft beer-maker Sierra Nevada Brewing Co. is opening a production site in North Carolina to expand its East Coast reach.
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Jan-25 -- US Airways Confirms Exploration of Possible Merger With AMR
On a GAAP basis, the Company reported a net profit of $71 million, or $0.44 per diluted share for 2011, compared to a net profit of $502 million, or $2.61 per share, in 2010.
The airline's employees earned approximately $12 million in profit sharing for the full year results, and an additional $13 million in operational incentive payouts during 2011. More...

Jan-25 -- Davos Delegates Say EU Must Show Resolve Amid Greek Split
Prime Minister Stephen Harper is in Davos, Switzerland to attend the World Economic Forum, a gathering of more than 2,600 business and government leaders.
DAVOS, Switzerland (AP) German Chancellor Angela Merkel says Europe lacks the "political structures" to make the euro work properly but expressed determination to defeat the currency's weaknesses. More...

Jan-25 -- Conoco Profit Exceeds Estimates; Gas Output Cuts Planned
Part of the plan includes selling between $15 and $20 billion in assets by the end of 2012.
ConocoPhillips' exploration-and-production segment's earnings fell 5% to $1.6 billion despite stronger prices as production declined 1%, excluding the suspension of operations in Libya and China. More...

Jan-25 -- United Technologies profit up nearly 11 percent
United Technologies Corporation Restructuring Costs and Non-Recurring Items Included in Consolidated Results Quarter Ended Year Ended December 31, December 31, (Unaudited) (Unaudited) (Millions) 2011 2010 2011 2010 Restructuring Costs included in Operating Profit: Otis $(26) $(43) $(73) $(83) Carrier (9) (43) (46) (75) UTC Fire & Security (51) (25) (80) (78) Pratt & Whitney (19) (90) (67) (138) Hamilton Sundstrand (6) (26) (16) (37) Sikorsky (37) - (53) (14) Eliminations and other (1) - (6) (1) (18) (148) (233) (336) (443) Non-Recurring items included in Operating Profit: Carrier 81 18 109 (5) UTC Fire & Security (46) - (66) - Pratt & Whitney - - 41 - Hamilton Sundstrand - - - (28) Sikorsky - - 73 - Eliminations and other (45) 21 (45) (138) (10) 39 112 (171) Total impact on Consolidated Operating Profit (158) (194) (224) (614) Non-Recurring items included in Interest Expense, Net 89 - 89 24 Tax effect of restructuring and non-recurring items above 17 72 22 128 Non-Recurring items included in Income Tax Expense 63 93 80 195 Impact on Net Income Attributable to Common Shareowners $11 $(29) $(33) $(267) Impact on Diluted Earnings Per Share $0.01 $(0.03) $(0.04) $(0.29) (1) Restructuring costs incurred in 2010 primarily reflects the impact of curtailments on our domestic pension plans.
Profits came in at $1.3 billion, or $1.47 per share, up from the prior quarter's $1.2 billion, or $1.31 per share. More...

Jan-25 -- The full text of the Federal Reserve's statement after its meeting Wednesday
The Committee decided today to keep the target range for the federal funds rate at 0 to 0.25% and currently anticipates that economic conditionsincluding low rates of resource utilization and a subdued outlook for inflation over the medium runare likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.
Inflation also is described as "subdued" in January, compared with December's "moderated," giving the Fed room to do more to bring down unemployment. More...

Jan-25 -- German Stocks Close Little Changed; Beiersdorf Shares Advance
The dollar index, which measures the currency against six other key currencies, hovered near a three-week low just below 80.
The broad weakness in the yen lifted the euro to a four-week peak of 101.88 yen. More...

Wednesday

Jan-25 -- Boeing 4Q Results Jet Past Estimates, But FY Forecast Falls Short
Summary Financial Results Fourth Quarter Full Year (Dollars in Millions, except per share data) 2011 2010 Change 2011 2010 Change Revenues $19,555 $16,550 18% $68,735 $64,306 7% Earnings From Operations $1,597 $1,103 45% $5,844 $4,971 18% Operating Margin 8.2% 6.7% 1.5 Pts 8.5% 7.7% 0.8 Pts Net Income $1,393 $1,164 20% $4,018 $3,307 21% Earnings per Share $1.84 $1.56 18% $5.34 $4.45 20% Operating Cash Flow $2,931 $1,116 NM $4,023 $2,952 36% The Boeing Company /quotes/zigman/220026 /quotes/nls/ba BA -0.20% reported fourth-quarter net income rose to $1.4 billion, or $1.84 per share, on revenue of $19.6 billion.
Full year earnings also climbed 18% to $5.8 billion, with the commercial aircraft sector contributing a 16% increase and the defence sector adding 10%. More...

Jan-25 -- Roche Makes Hostile $5.7 Billion Illumina Bid to Add Diagnostics
While Roche says in a statement that its $44.50 a share cash offer for Illumina is a significant premium to the company's battered shares, it represents a near 50% discount to the San Diego-based company's 2011 highs.
The bid is "really attractive and compelling" and offers "full and fair value," Schwan said. More...

Jan-25 -- US Stock Futures Slip
Dow Jones industrial average futures were off 41 points, and Nasdaq futures rose 11.5 points.
Nasdaq futures are up 14 points, thanks to Apple, but Dow futures are down about 45 points and S&P futures are off about 4. More...

Jan-25 -- Abbott Labs 4Q Net Rises 12%, Margins Improve; Sales Miss Views
Excluding one-time items, the company earned $1.45 per share, beating the consensus estimate of analysts polled by Thomson Reuters, who expected $1.44 per share.
Abbott reported net income of $1.62 billion, or $1.02 per share, for the last three months of 2011. More...

Jan-25 -- ECB Said to Oppose Haircut on Its Own Greek Debt
Greece has said it doesn't want to pay a coupon of more than 3.5 percent on the new bonds, while private creditors are demanding an interest rate of at least 4 percent.
The interest rate caps will also seriously test the willingness of private bondholders to agree to a debt deal voluntarily. More...

Jan-25 -- Obama heralds domestic natural gas
An expected boom in shale oil is expected to raise output by more than 20 % over the next decade, helping to reduce import needs, according to a report from the U.S. Energy Information Administration on Monday.
Obama last year called on Congress to eliminate "billions in taxpayer" subsidies for oil companies and to invest instead in renewable sources of power. More...

Jan-25 -- Dover 4Q Profit Up 40% On Broad-Based Growth, Acquisitions
Revenue for the year ended December 31, 2011 was $8.0 billion, an increase of 20% over the prior year, reflecting organic growth of 11%, a 7% increase from acquisitions and a 2% impact from foreign exchange.
Current Street expectation is for earnings of $4.83 per share on revenues of $8.65 billion. More...

Jan-25 -- Unicredit Plans Up To EUR25 Billion In Covered Bonds For Use With ECB
UniCredit is also offering to buy back as much as 3 billion euros of bonds to boost capital.
After initial investor skepticism, market participants say the Milan-based bank, which must raise almost 8 billion euros by June, is now expected to gain shareholder backing for the multibillion-euro capital increase. More...

Jan-25 -- George Soros Has Hard Words for European Union
Riots on the streets of America are inevitable, the financier explained, expressing his thoughts on the subject in a manner Newsweek described as "almost gleefully."
Mr Soros, based in Manhattan, New York, is known to make his money on long-term solid share choices and avoids investing in gold. More...

Jan-25 -- Defense: Stanford's Empire "Wasn't a Fraud"
The dreams of people saving for retirement or for their children's education were ruined as Texas financier R. Allen Stanford used money they deposited in his Caribbean bank to instead support his lavish billionaire lifestyle, a prosecutor said Tuesday at his fraud trial.
The receivership jurisdiction case is In re Stanford International Bank Ltd., 3:09-cv-00721, U.S. District Court, Northern District of Texas (Dallas). More...

Jan-25 -- Davos business leaders say Western capitalism has widened income gap, wonder ...
Jan. 25 (Bloomberg) -- India's economy may slow if European leaders don't act to improve the continent's fiscal woes, billionaire Rahul Bajaj said in an interview in Davos, Switzerland.
There will be sessions that will be concerned about humanity's vital task of getting clean drinking water and regular power to the 1.5 billion people who do not have it at present. More...

Jan-25 -- New Fed forecasts expected to suggest 2014 rate shift
The FOMC convened today at about 10 a.m. The decision to announce the projections is the latest effort by Chairman Ben S. Bernanke to increase openness and public understanding of the Fed. Since becoming chairman in 2006, Bernanke has begun holding regular press conferences and voiced his views in television interviews and at town hall meetings.
The increase in the monetary base -- which is also known as high powered money -- was a direct result of the Fed's desire to take interest rates to zero percent and to vastly increase banks' ability to increase the supply of money and create inflation. More...

Jan-25 -- New Yahoo CEO says company needs to "do better"
Income from operations increased 4 percent to $800 million for the full year ended December 31, 2011, compared to $773 million for the same period of 2010.
Management generally compensates for limitations in the use of non-GAAP financial measures by relying on comparable GAAP financial measures and providing investors with a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure or measures. More...

Jan-25 -- Delta Profit Surges
Delta Air Lines Inc.' s fourth-quarter earnings surged as the airline booked a double-digit increase in a key revenue metric and successfully offset increased fuel costs.
Delta's operating revenue grew $610 million, or 8%, in the December 2011 quarter compared to the December 2010 quarter. More...

Jan-25 -- World stocks fall on worries over Greek debt deal
Even German's big exporters are feeling the pressure with Siemens, Europe's biggest engineering conglomerate and a bellwether for the region, reporting an unexpectedly sharp fall in core profits on Tuesday and warning that 2012 would be a difficult year.
LONDON -- The eurozone may escape recession thanks to a surprise upturn in the service sector this month but the overall economy is still struggling to gain any traction outside Germany and to a lesser extent France, surveys showed on Tuesday. More...

Jan-25 -- Biden: No difference between Gingrich and Romney
WASHINGTON-- Vice President Joe Biden said Wednesday the protracted policy fight between Democrats and Republicans in Washington is "not about bad guys and good guys," but centers on how best to keep the middle class growing in America.
Is Toby Harnden supposed to be reporting on The U.S. Election Campaign or is he campaigning himself? Though I am very interested in The U.S. Election, I can't actually vote myself, so why is Toby pleading with me on behalf of Milt Romney. More...

Jan-25 -- WellPoint 4Q Profits Fall 39% Amid High Medical Costs
WellPoint's disappointing profit contrasted with recent results from large health insurers that have generally topped forecasts over the past year.
The Indianapolis company's stock sank more than 6 per cent, or $4.40, to $65 in premarket trading Wednesday. More...

Jan-25 -- Germany's Merkel drives home need for Europe's strugglers to reform
BRUSSELS/BERLIN (NEWS.GNOM.ES) - Angela Merkel's conservative allies warned on Tuesday against committing additional German funds to euro zone bailout schemes, underscoring how difficult it will be for the chancellor to meet international demands to boost the bloc's defenses.
"We're not just talking, we're making swift progress." More...

Jan-25 -- Furniture Maker Lands Coveted Spot At State Of Union
The move caught the eye of the White House and soon Cochrane was accepting an invitation to sit next to the First Lady during President Obama's State of the Union address on Tuesday.
Bruce Cochrane is the president and CEO of a furniture company in Lincolnton, N.C. Cochrane's family owned their business for decades before selling in 1997. More...

Jan-25 -- Yen slides on Japan deficit
Demand for the greenback was limited before the Federal Open Market Committee releases forecasts today for benchmark U.S. interest rates for the first time.
The euro briefly rose to a session high against the dollar after a strong German business sentiment survey offered fresh evidence that Europe's largest economy may skirt a recession. More...

Wednesday

Jan-25 -- Obama focuses State of the Union on income inequality
Obama also highlighted the economic potential from tapping into the nation's natural gas supplies, citing independent reports showing the industry could support about 600,000 jobs over the next decade.
Daniels called for "a dramatically simpler tax system of fewer loopholes and lower rates" and "a pause in the mindless piling on of expensive new regulations that devour dollars that otherwise could be used to hire somebody." More...

Jan-25 -- Romney's tax returns sit uneasily with Florida voters
The figures will likely shock a polarized American public fixated on themes of "class warfare" and the growing income disparity between rich and poor -- which has led in recent months to the Occupy protests in U.S. cities.
"You are going to hear a bunch of flowery rhetoric and all this stuff about all the things he has done," Santorum said. More...

Jan-25 -- Obama Backs Fracking to Add 600000 Jobs, Vows Safe Drilling
An expected boom in shale oil is expected to raise output by more than 20 % over the next decade, helping to reduce import needs, according to a report from the U.S. Energy Information Administration on Monday.
Trading has leapt in the last two weeks in options to buy the United States Natural Gas Fund (UNG), the biggest U.S. exchange-traded fund tracking Nymex natural-gas futures. More...

Jan-25 -- Trial Begins in Stanford Fraud Case With Appeal to Emotions
FILE - In this Aug. 24, 2010 file photo, R. Allen Stanford arrives in custody at the federal courthouse for a hearing in Houston.
As the worldwide financial crisis grew in 2008 and nervous investors began redeeming the CDs, Stanford falsely claimed to have invested $740 million in the bank. More...

Jan-25 -- Mixed earnings, Greece end Wall Street's 5-day run
Just past 12:30 p.m. on Wall Street, the Dow Jones industrial average was off 0.30 percent, the S&P 500 was 0.26 percent lower and the Nasdaq had fallen 0.39.
The declines mar what has been a strong month for stocks, as investors welcome generally upbeat U.S. economic news and signs that European policy makers are making headway in dealing with the region's sovereign-debt crisis. More...

Jan-25 -- Yahoo Revenue Misses Estimates as Advertising Demand Dips
Income from operations increased 4 percent to $800 million for the full year ended December 31, 2011, compared to $773 million for the same period of 2010.
Yahoo! fourth-quarter net earnings declined 5.3 percent from a year earlier, as revenues dropped 13 percent. More...

Jan-25 -- Roche Offers to Buy Illumina for $5.7 Billion
Swiss drugmaker Roche says it plans to offer shareholders $5.7 billion for DNA diagnostics company Illumina.
Swiss drug giant Roche Holding Ltd. (ROG.VX) Tuesday made a hostile offer for Illumina Inc. (ILMN) that values the U.S. life sciences company at $5.7 billion. More...

Jan-25 -- Nikkei hits fresh 3-month high, exporters surge
Yesterday the S&P 500 slid 0.1 percent in New York, ending a five-day advance, after European finance ministers pushed bondholders to provide greater debt relief for Greece, spurring concern the nation may fail to make a March 20 bond payment deadline.
The 225-issue Nikkei Stock Average lost 0.46 point from Friday to close at 8,765.90, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange added 1.32 points, or 0. 17 percent, to finish at 756.79. More...

Jan-25 -- European Central Bank Moves to Avoid Loss on Greek Bonds
The country is desperate for a deal to ensure funds from a 130 billion euro rescue plan drawn up by European partners and the International Monetary Fund arrive before 14.5 billion euros of bond redemptions fall due in March.
The French CAC 40 shed 0.5% to close at 3,322.65. More...

Jan-25 -- Quiznos Slices Debt in Restructuring Deal
Along with our dedicated franchise owners and employees, we can now focus primarily on the customer experience and our fresh, high-quality products.
"Improving our balance sheet and putting our capital structure issues behind us are major steps forward to strengthening the Quiznos brand and our customer experience," Greg MacDonald, Quiznos CEO, said in a statement . More...

Jan-25 -- Obama Pushes Proposal to Streamline Refinancing for Homeowners
The regulator for the two companies said forgiving mortgage debt on Fannie Mae and Freddie Mac loans would cost the taxpayer-funded companies to lose nearly $100 billion.
Between 2004 and 2007, private lenders originated three quarters of all subprime and alt-A mortgage loans. More...

Jan-25 -- Japan logs first trade deficit since 1980
Demand for the greenback was limited before the Federal Open Market Committee releases forecasts today for benchmark U.S. interest rates for the first time.
The deficit could be blamed on the perfect storm which has battered Japan's economy over the last 12 months. More...

Jan-25 -- IMF, Warning on Debt Crisis, Cuts Global Forecasts
Even as the Reserve Bank cut banks' cash reserve ratio by half a per cent but kept policy rates unchanged, the International Monetary Fund (IMF) on Tuesday suggested India be cautious on monetary and fiscal easing because of high levels of inflation and public debt.
Jose Vinals, head of the IMF's Monetary and Capital Markets Department, said global financial stability is in a "danger zone." More...

Jan-25 -- AMD Q4 EPS $0.19; Revs $1.69B; Shares Down 1.23%
AMD, which early last year introduced chips called APUs which combine CPU and GPU functionality in a single processor package, had profits of $491 million on revenue of $6.57 billion in 2011 to deliver $0.66 in earnings per share to investors.
About a year ago, AMD's highly respected CEO Dirk Meyer left the top job after a dispute with the board. More...

Jan-25 -- Up to 60 feared dead as landslide hits PNG village
A landslide swept through two villages in Papua New Guinea yesterday, covering much of the settlements in mud and leaving up to 40 people missing, officials and residents told Australian media.
REBECCA ARNOLD: All PNG LGN project personnel have been accounted for. More...

Jan-25 -- Local unemployment down in 2011
TOPEKA, Kan. -- A new report says the Kansas unemployment rate edged lower in December to a seasonally adjusted 6.3 percent, despite the loss of about 5,600 seasonal jobs.
North Dakota had the lowest rate, at 3.3 percent. More...

Jan-25 -- AA Parent Company Circulates Internal Memo Hinting Of Layoffs
In a letter sent to employees Monday, American's senior vice president of human resources, Jeff Brundage, attempted to allay workers' fears about the future of their pensions.
Helping executives at midsize firms address people risks, such as benefits, workers comp and professional liability; property and liability risks, including insurance and loss control; and operational growth risks such as M&A and product development. More...

Jan-25 -- Walmart holds 'Idol'-style contest for small businesses
OTTAWA - Stephen Harper's discussions with global economists, world leaders and thinkers at Davos, Switzerland this week will be partly intended for domestic ears.
There are notable absences of Davos regulars like former IMF head Dominique Strauss-Kahn, Swiss central bank chief Philipp Hildebrand, Greece's former prime minister George Papandreou and bank UBS chief Oswald Gruebel, all felled in recent months. More...

Jan-25 -- Euro Fears Send a Shiver Through Davos Revelry
Occupy Davos activists put the finishing touches to their "Igloo Camp."
On the agenda are issues like the rise of China, financial regulation, and the aftermath of popular protests around the world. More...

Jan-25 -- Nvidia Cuts Q4 Revenue Outlook, Shares Decline - Update
Nvidia said that global disk-drive shortage caused by the flooding in Thailand had a more than expected impact on the market for graphics processors.
Sterne Agee analyst Vijay Rakesh said of Nvidia's forecast cut. More...

Tuesday

Jan-24 -- US Stocks Decline on Greek Debt Stalemate
The country is desperate for a deal to ensure funds from a 130 billion euro rescue plan drawn up by European partners and the International Monetary Fund arrive before 14.5 billion euros of bond redemptions fall due in March.
There's going to be a deep loss suffered by the private holders of Greek debt whether you have a deal or default." More...

Jan-24 -- Europe poses global recession threat: IMF
Even as the Reserve Bank cut banks' cash reserve ratio by half a per cent but kept policy rates unchanged, the International Monetary Fund (IMF) on Tuesday suggested India be cautious on monetary and fiscal easing because of high levels of inflation and public debt.
For the first time since the debt turmoil erupted two years ago, the IMF said the 17-nation euro zone would likely slip into a mild recession in 2012, with output contracting by about 0.5 percent. More...

Jan-24 -- Obama Claiming Credit for Fossil-Fuel Gains Angers Industry
According to the Jan. 24, Wall Street Journal, President Barack Obama will focus part of his State of the Union address on energy security and the "benefits of increased U.S. oil and gas production."
Recognize long-term growth opportunities Bringing a small company or industry to scale yields many more jobs -- and profits -- than making a huge company a little bigger. More...

Jan-24 -- Europe Progressing in Debt Crisis, Investors and Economists Say
Politicians, including French President Nicolas Sarkozy, are pushing the banks to use the loans, which carry an interest rate of 1 percent, to buy higher-yielding southern European sovereign debt, thereby forcing down borrowing costs in the region.
According to ECB board member Ewald Nowotny, the downgrading came at an inopportune time: the tensions surrounding the debt crisis had recently eased somewhat. More...

Jan-24 -- Jury chosen in trial of Texas financier Stanford
Jury selection begins this morning in the fraud trial of Allen Stanford at the Bob Casey Federal Courthouse in downtown Houston.
Pictures of the bruised and bloodied Texan were plastered across newspapers in late 2009 after the Texan got into a fight over the use of a telephone at a detention centre in Corlone, Texas. More...

Jan-24 -- Va jobless rate unchanged at 6.2 pct in December
The state Commerce Department said Tuesday that the jobless rate dropped in December for the third straight month.
The federal Bureau of Labor Statistics says the state's seasonally adjusted jobless rate was 6.8 percent, down from 6.9 percent in November and 7.7 percent in December 2010. More...

Jan-24 -- Debt prices fall in push for auction concessions
Concern that Europe 's 17-member common currency may unravel helped drive a 9.8 percent rally in Treasuries last year, the best return since 2008, according to Bank of America Merrill Lynch index data.
The yields earlier touched a more-than-six-week high of 2.09%. More...

Jan-24 -- CEOs paid well at bailed-out banks - watchdog
Congress and the White House had wanted to cap salaries at $500,000 for the seven companies that received the most aid--American International Group Inc (AIG), Bank of America Corp. (BAC), Citigroup Inc (C), Chrysler Group LLC, Chrysler Financial, General Motors Co. (GM), and Ally Financial Inc., formerly known as GMAC Financial Services Inc. A Special Master for Executive Compensation--initially Kenneth Feinberg--was set up within the Treasury Department to help set the pay for top executives.
Public anger over high pay and billion-dollar bonuses at bailed-out firms in 2008 prompted the Obama administration to limit cash salaries at $500,000 and approve compensation packages for the companies' top earners. More...

Jan-24 -- $5 here, $37 there: Americans' workplace coffee indulgences add up
A survey by finance recruiting firm Accounting Principals has revealed that 50 percent of the American work force spends an average of $1,000 a year on coffee, with many shelling out twice as much for lunch.
Americans' total annual bill for coffee and lunch is double the $1,500 a year spent on commuting to work, said the poll, which surveyed 1,000 currently employed Americans and was conducted last month. More...

Jan-24 -- Bank of America to Offer Retail Discounts Through Online Banking Site
The bank may end up holding money for a period of time in the settlement process, but making money off that float time is not part of the program's "core strategy," Godsman said.
More...

Jan-24 -- Charges drag down J&J 4Q profit, but sales rebound
The company forecast 2012 earnings of $5.05 to $5.15 per share, compared with the consensus Wall Street view of $5.21.
The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. More...

Jan-24 -- It's Time to Buy Natural Gas
An expected boom in shale oil is expected to raise output by more than 20 % over the next decade, helping to reduce import needs, according to a report from the U.S. Energy Information Administration on Monday.
In trading in New York Monday, natural gas prices rose 6.4 percent to $2.546 per 1,000 cubic feet, getting a boost from the Chesapeake announcement. More...

Jan-24 -- Macy's sues Martha Stewart Living over JCPenney deal
The lawsuit was filed Monday in New York State Supreme Court.
Macy's Sues To Block Martha Stewart From JCPenney « CBS Dallas / Fort Worth You are using Internet Explorer 6. More...

Jan-24 -- California Home Foreclosure Notices Fell 12% in Fourth Quarter
Banks in the fourth quarter sent county homeowners 815 default notices, the first step in the foreclosure process, according DataQuick, a San Diego real estate information service.
Statewide, default notices were sent to 61,517 homeowners in the fourth quarter of the year, DataQuick reported. More...

Jan-24 -- West Displays Gulf Military Power to Defiant Iran
President Barack Obama said the United States would continue to impose new sanctions on Iran over Tehran's disputed nuclear programme after the European Union agreed yesterday to ban imports of Iranian crude starting in July.
U.S. officials welcomed the sanctions, with Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton saying in a joint statement Monday that the new measures will "sharpen the choice for Iran's leaders." More...

Jan-24 -- Gold falls from six-week high as euro eases
Coming Up: Eurogroup meeting; 1600 GMT (Updates prices, adds quotes) By Lewa Pardomuan SINGAPORE, Jan 23 (Reuters) - Gold jumped to its highest in more than a month on Monday as Tokyo futures rose on buying from investors, but gains could be limited by a weaker euro after Greece and its private creditors failed to strike a crucial deal to avoid a messy default.
Bullion gained even as the euro and other commodities fell, after banking officials told Reuters the agreement between Greece and its creditors was near, which could prevent the debt-stricken nation from tumbling into a chaotic default. More...

Jan-24 -- Peabody Energy Warns of Problems at Australian Mines
In company news, Peabody Energy Corp. ( BTU ) falls after saying it is targeting Q1 2012 EBITDA in the range of $500 to $600 million, well below Street expectations for a $708-million EBITDA for the period.
The company has rising revenue year-over-year of $6.86 billion for 2010 vs. $6.01 billion for 2009. More...

Jan-24 -- Verizon Posts Loss on Pension Charges
Shammo said that high costs associated with subsidizing the iPhone are simply the price of doing business with Apple.
In wireless, we had our best quarter ever in terms of smartphone sales, 4G LTE device sales and customer upgrades, along with the most retail gross adds in the 3 years. More...

Jan-24 -- Coach Profit Gets Boost From North America, China Sales
"We were especially pleased with our ongoing strength in North America during the holiday season," Coach CEO Lew Frankfort said in a statement.
Revenues for the quarter rose 14.6% year-over-year to $1.45 billion, better than consensus estimates of $1.43 billion. More...

Jan-24 -- SPX Deal a Stealth Bet on US Auto Industry
Chris Kearney, Chairman, President and CEO of SPX said, "Flow Technology is the foundation of our company and we now expect that segment to represent more than 50 percent of our revenue going forward."
Bosch, the world's largest car parts maker, noted that the SPX Service Solutions business is expected to generate sales of about $920 million in 2011. More...

Tuesday

Jan-24 -- McDonald's 4Q Profit Climbs as Sales Sizzle
In the October-December period, McDonald's earned $1.33 per share, up 15% from a year ago and ahead of the consensus call for $1.30, on $6.8 billion in revenue.
Global comparable sales for the quarter rose 7.5%, with the U.S. up 7.1%, Europe up 7.3% and Asia/Pacific, Middle East and Africa up 6.9%. More...

Jan-24 -- Verizon Posts Loss on Pension Charges
Usually, Verizon's overall revenue increase is driven higher monthly wireless service revenues, as it gains customers.
Verizon's customer base has grown 6.3 percent year over year. More...

Jan-24 -- Greek debt deal hinges on interest rate impasse
Greece says it is not prepared to pay a coupon of more than 3.5 per cent, and euro zone finance ministers effectively backed the Greek government's position at Monday's meeting, a position that the International Monetary Fund also supports.
S&P's warning over Greece's rating was a blow, but the agency said it would not necessarily destroy the credibility of the European Union. More...

Jan-24 -- DuPont revenue misses on weak electronics demand
The Wilmington, Del. -based science company reported full-year earnings of about $3.5 billion, or $3.68 per share, compared with $3.05 billion, or $3.28 per share, for the previous year.
Forward-looking statements also involve risks and uncertainties, many of which are beyond the company's control. More...

Jan-24 -- Harley-Davidson posts profit versus year-ago loss
The Milwaukee-based company reported fourth quarter net income of $105.7 million, or 46 cents per share, compared with a net loss of $46.8 million, or -20 cents per share, in the year-ago period.
U.S. retail sales of new Harley-Davidson motorcycles increased 5.8 percent to 151,683 units, and in international markets sales increased 6.1 percent to 83,505 units, for the full year compared to 2010. More...

Jan-24 -- Johnson & Johnson Beats, But Guidance Light
"Results were pretty much in line, with some pretty big charges, but the forecast is a little weak for 2012," said Morningstar analyst Damien Conover.
Fourth-quarter profit in 2010 also was held down by $922 billion in charges for litigation settlements and the hip implant recall. More...

Jan-24 -- European Stocks Decline on Greek Debt Impasse
NEW YORK (Reuters) - The oversold euro rose to three-week highs against the dollar on Monday and world stocks edged higher as signs of progress on a Greek debt restructuring deal fueled hope that the euro zone crisis may be contained.
Expectations of a breakthrough have heartened investors and boosted assets that are considered riskier. More...

Jan-24 -- UK could send extra military assets to Strait of Hormuz to keep key shipping ...
"The West's ineffective sanctions against the Islamic state are not a threat to us.
Iran summoned the Danish ambassador to Tehran on Tuesday over the EU's oil embargo; Denmark is currently the head of the rotating EU presidency. More...

Jan-24 -- Travelers Profit Slips on Lower Investment Income, Reserves
In the fourth quarter, the company's net income declined to $618 million or $1.51 per share from $894 million or $1.95 per share reported last year.
On average, 22 analysts polled by Thomson Reuters expected the company to earn $1.53 per share for the quarter. More...

Jan-24 -- COLUMN-The State of America's Energy Policy: John Kemp
U.S. natural gas companies are succumbing to low prices by cutting output from the record levels that have taken a toll on drillers' bottom lines during this mild winter.
Gas prices, as well as producers' shares, surged as much as 10 percent after the move by Oklahoma City-based Chesapeake, which accounts for 9 percent of U.S. gas output. More...

Jan-24 -- Starbucks to start selling beer, wine, cheese at cafes
The Seattle-based coffee giant said that it will be serving beer and wine in up to six stores in Southern California toward the end of 2012, with other locations in Atlanta and Chicago following suit.
Jan. 23 (Bloomberg) -- Starbucks Corp., the world's largest coffee-shop chain, will sell beer and wine at more locations to lure customers during the slower afternoon and evening hours. More...

Jan-24 -- Macy's sues Martha Stewart Living over JCPenny deal
When Martha Stewart Living Omnimedia struck a 10-year deal last month to sell some branded products at rival department store J.C.Penney, which also acquired a large stake in MSLO, Macy's legal department took notice.
The deal called for Stewart's merchandise to be sold at Penney at "stores within stores," according to the report. More...

Jan-24 -- SPX to sell auto service business to Bosch
Bosch said SPX Service Solutions "develops, manufactures and sells diagnostic and service tools, workshop equipment, and software for the global automotive aftermarket" and had estimated sales of $920 million last year.
More than 10,000 associates in 140 countries, as well as a global logistics network, ensure that some 450,000 different spare parts reach customers quickly and on time. More...

Jan-24 -- GLOBAL MARKETS-Greek debt setback depresses euro, shares
Even German's big exporters are feeling the pressure with Siemens, Europe's biggest engineering conglomerate and a bellwether for the region, reporting an unexpectedly sharp fall in core profits on Tuesday and warning that 2012 would be a difficult year.
"The eurozone economy appears to have stabilised in January, showing a marginal increase after a 0.5-0.6 percent contraction in gross domestic product in the final quarter of last year, according to flash Markit PMI," Markit Chief Economist Chris Williamson was quoted as saying. More...

Jan-24 -- Europe to issue tough new data-protection rules soon
The new rules are expected to significantly bolster regulators' powers in fighting data protection breaches.
Reding told the conference that the new laws would give European tech companies the edge when handling personal data. More...

Jan-24 -- Texas Instruments to shutter Stafford plant
Wall Street analysts were estimating Texas Instruments to report earnings of 39 cents a share on revenues of $3.25 billion.
In the non-iPad tablet market, Texas Instruments took the leadership position with 47 percent unit shipment share with the help of high-profile design-wins. More...

Jan-24 -- Rising costs push Kimberly-Clark 4Q profit lower
Kimberly-Clark said Tuesday that it earned $401 million, or $1.01 per share, in the fourth quarter.
Capital spending should total $1.0 to $1.1 billion, in line with the company's long-term target of 4 ½ to 5 ½ percent of net sales. More...

Jan-24 -- KPN warns on 2012 profit and scraps share buyback
AMSTERDAM (Reuters) - Dutch telecom firm KPN ( KPN.AS ) lowered core profit expectations for 2012, scrapped its 2012 share buyback program and will expand its investment strategy to try to turn its struggling domestic business around.
Blok said the investigations are ongoing and that KPN is cooperating fully. More...

Jan-24 -- Europe's debt woes end golden days at Siemens
Industrial equipment maker Siemens AG said Tuesday that net profit fell 17 percent to 1.46 billion euro ( U.S. $1.89 billion) in the final quarter of 2011 due to delays in major wind-power and rail projects, and as the uncertain global economic outlook hurt orders.
Net income from continuing operations fell 27 percent to 1.36 billion euros ($1.77 billion) in the fiscal first quarter, Munich-based Siemens said in a statement today. More...

Jan-24 -- Spain Sells 2.51 Billion Euros of Bills, Beating Maximum Target
Jan. 23 (Bloomberg) -- Spain's economy contracted in the fourth quarter and will shrink 1.5 percent this year, the Bank of Spain estimated, undermining government efforts to cut the budget deficit amid the second recession in two years.
From what signs the government has given on the shape of the reform, on the other hand, economists say it may also fail to please employers and risks not doing enough to generate meaningful improvement. More...

Tuesday

Jan-24 -- Euro gains evaporate after Greek setback
NEW YORK (Reuters) - The oversold euro rose to three-week highs against the dollar on Monday and world stocks edged higher as signs of progress on a Greek debt restructuring deal fueled hope that the euro zone crisis may be contained.
Some technical analysts consider RSI readings above 70 a sign that stocks have risen too far, too fast. More...

Jan-24 -- Oil Advances a Second Day After Europe Agrees on Iran Crude Import Embargo
Now any foreign firm that deals with Iranian state-owned Bank Tejarat and its affiliate, Belarus-based Trade Capital Bank, will no longer be able to access the U.S. financial system.
A military strike against Iran's nuclear facilities would have catastrophic results for the region and the world, as warned by the Russian Foreign Minister recently. More...

Jan-24 -- In Europe, Arguing to Apply Some Stimulus Along With the Austerity
WHILE much of Europe suffers debt downgrades and job losses, Germany can boast of cheap borrowing, near record employment and a AAA credit rating that may even prove impervious to a mild recession.
Italy's premier Mario Monti has told Berlin that the new ESM must be doubled to €1 trillion (£828bn) to restore investor confidence in southern European debt, according to Der Spiegel. More...

Jan-24 -- Nikkei near 3-month high on Greece hopes; Elpida jumps
The 225-issue Nikkei Stock Average lost 0.46 point from Friday to close at 8,765.90, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange added 1.32 points, or 0. 17 percent, to finish at 756.79.
The index added 0.1 percent in New York yesterday after Germany and France said talks between Greece and bondholders were making progress. More...

Jan-24 -- Texas Instrument to Close Plants in Houston, Japan
Wall Street analysts were estimating Texas Instruments to report earnings of 39 cents a share on revenues of $3.25 billion.
The past quarter's earnings were lowered by a charge of 16 cents per share to account for the residue of National Semiconductor and the plant closure charge, which worked out to 7 cents per share for the period. More...

Jan-24 -- Chesapeake to Cut Number of Gas Rigs
Gas for February delivery rose 10.4 cents, or 4.4 percent, to $2.447 per million British thermal units at 8:10 a.m. on the New York Mercantile Exchange after falling as low as $2.231.
Chesapeake's announcement doesn't drastically change the supply picture for natural gas. More...

Jan-24 -- Political Push Moves a Deal on Mortgages Inches Closer
New York State Attorney General Eric Schneiderman has long been a critic of the AG settlement out of fear that it will make it much harder, if not impossible, to go after the banks for criminal wrongdoing down the line.
Jeffrey Naimon, an attorney who frequently represents banks in court, isn't ready to call Schneiderman's probe "posturing." More...

Jan-24 -- Macy's sues Martha Stewart Living over JC Penney deal
When Martha Stewart Living Omnimedia struck a 10-year deal last month to sell some branded products at rival department store J.C.Penney, which also acquired a large stake in MSLO, Macy's legal department took notice.
Martha Stewart Living granted Macys an exclusivity arrangement in a 2006 contract, the retailer claims. More...

Jan-24 -- Europe Weighs Tough Law on Online Privacy
The new rules are expected to significantly bolster regulators' powers in fighting data protection breaches.
Facebook also signalled that it wanted more information about the scope of the data that the EU thought users should be able to control. More...

Jan-24 -- Diamondback settles insider trading case
The proposed settlement, which is still subject to court approval, comes less than a week after U.S. prosecutors announced charges against seven people who worked for five different hedge funds in connection with an alleged $62 million insider-trading scheme.
The agency claimed Newman learned inside information about Dell's earnings in 2008 from Tortora. More...

Jan-24 -- Social Security to resume statements for some
Upon receiving your Social Security statement, you and your spouse should review the benefits on your record.
The earned entitlements are usually paid for by the recipients and the unearned entitlements are usually paid for by all the taxpayers. More...

Jan-24 -- OJ ends at record peak on Brazil import ban talk
Many of the orange juice samples tested by the Food and Drug Administration in recent weeks do not contain measurable amounts of a banned fungicide tied to oranges from Brazil, the federal government announced on Friday.
Impacting the amount of supplies is the U.S. government's probe of imports of the soft commodity for the presence of a fungicide that is legal in Brazil but prohibited in the U.S. Texas verified the presence of citrus greening disease on Wednesday, which previously has proven to be damaging to crops in Florida, the globe's second-largest grower of oranges. More...

Jan-24 -- Is the ETF bubble about to burst?
Compared to mutual funds, ETFs generally have lower management fees, though there could be costs associated with buying or selling, and there are no minimum purchase size requirements.
Even if you don't like keeping a close eye on your portfolio all the time, with ETFs and index mutual funds, you don't have to -- yet you can still have the exposure to stocks and other types of investments that you want. More...

Jan-24 -- InterDigital Shares Tumble After Company Ends Strategic Review Without Sale
InterDigital, in July 2011, announced the initiation of a process to explore and evaluate potential strategic alternatives for the company, including a sale or other transaction.
The wireless technology patent holder expects about $800 million in annual revenue from the sale and licensing deals in three to five years. More...

Jan-24 -- Netflix stock dives on fears about upcoming earnings
For the fiscal year ending in September, revenues are expected to increase by 11% to $13 billion, with earnings per share rising at about twice that rate.
The company's trailing P/E is 21.93, while trailing earnings are $4.40 per share. More...

Jan-24 -- Starbucks to add beer, wine to menu at select coffee shops
Already a go-to for morning commuters and afternoon pick-me-ups, the coffee giant is aiming to expand the happy hour crowd by offering wine and beer at select Southern California locations.
We're late to this, for no good reason, so I'm sure you've heard that Starbucks has chosen Atlanta as one of its three markets to expand its wine-and-beer-after-4pm program . More...

Jan-24 -- First 3 Big Banks to Report Compensation Show Drop
Gorman got total compensation last year of $14 million, including salary, a $1.6 million cash bonus, $3.9 million of restricted stock, $3.5 million of options and $2.3 million of deferred cash.
Chief Executive Officer James Gorman said during a Jan. 19 conference call that the $16.4 billion of compensation recorded in 2011 was bloated by deferred awards from prior years. More...

Jan-24 -- VMware Profit Tops Estimates as Clients Add Server Software
Continued growth in service and license revenue to go with larger profit margins helped VMware post quarterly net income of $200 million (46 cents per share) -- up from $120 million (28 cents per share), in the same period a year earlier.
Annual 2012 revenues are expected to be in the range of $4.475 and $4.6 billion, an increase of 19% to 22% from 2011, and annual license revenues are expected to grow between 11% and 16%." More...

Jan-24 -- CSX Posts Higher Profit, Sales
Revenues increased 10 percent to $11.7 billion, operating income rose 11 percent to $3.4 billion, the operating ratio improved to 70.9 percent, and earnings per share improved 24 percent to $1.67.
Revenue of $2.95 billion was just below expectations for $2.99 billion. More...

Jan-24 -- Allen Stanford's Prospective Jurors Probed for Bias by Judge
HOUSTON, Texas, CMC - After several attempts by defence attorneys, over three years, to delay the long-awaited criminal case against disgraced Texas financier Allen Stanford, his trial finally begins today.
Sir Allen Stanford, who is accused of bank fraud, is the subject of an investigation by the BBC's Panorama. More...

Monday

Jan-23 -- Starbucks expands wine and beer sales to Ga., Ill., Calif.
Now, the coffee company wants to take on chains which offer meals to late day dinners in earnest.
Several locations in Southern California, Atlanta, Chicago and the Pacific Northwest will be the first testers of the company's new concept by the end of the year. More...

Jan-23 -- Europe Steps Up Pressure on Greece
NEW YORK (Reuters) - The oversold euro rose to three-week highs against the dollar on Monday and world stocks edged higher as signs of progress on a Greek debt restructuring deal fuelled hope that the euro zone crisis may be contained.
While the euro zone crisis is far from over, analysts said a deal for Greece could signal a bit more stability for the country. More...

Jan-23 -- Oil up on EU deal to ban Iran crude
"If any disruption happens regarding the sale of Iranian oil, the Strait of Hormuz will definitely be closed," Mohammad Kossari, deputy head of parliament's foreign affairs and national security committee, told Fars news agency a day after U.S., French and British warships sailed back into the Gulf.
Iran furiously denounced the unprecedented decision. More...

Jan-23 -- U.S. Seen Being Liquefied Gas Exporter in 2016 on Fracking Gains
U.S. natural gas companies are succumbing to low prices by cutting output from the record levels that have taken a toll on drillers' bottom lines during this mild winter.
Chesapeake Energy Corp will slash drilling for dry gas by half as prices for the fuel fell to their lowest level in a decade, the company said on Monday, sending its shares up more than 5 percent. More...

Jan-23 -- IMF calls for larger 'firewall' in Europe
The head of the International Monetary Fund has called on European governments to boost the size of their rescue fund.
There is a way out of uncertainties through policy actions. More...

Jan-23 -- CarMax to add nearly 1000 jobs
RICHMOND, Va., Jan 23, 2012 (BUSINESS WIRE) -- CarMax, Inc. /quotes/zigman/311076 /quotes/nls/kmx KMX +0.83%, the nation's largest retailer of used cars, is recruiting for more than 965 positions in locations across the country in order to satisfy the company's seasonal staffing needs. The majority of positions are in sales and service operations (detailers, experienced technicians), with additional positions in purchasing and the business office.
"We are looking to hire the positions as quickly as possible and shooting to have everyone in place by the beginning of April," a CarMax spokeswoman said. More...

Jan-23 -- Diamondback Capital to Pay $9 Million in Insider-Trading Settlement
Diamondback will give up $6 million in ill-gotten gains and pay a $3 million penalty, as part of the proposed settlement with the U.S. Securities and Exchange Commission and a non-prosecution agreement with the Justice Department.
Under the proposed settlement with the U.S. Securities and Exchange Commission, Diamondback will give up more than $6 million in what the SEC termed ill-gotten gains and pay a $3 million penalty. More...

Jan-23 -- States review $25B mortgage settlement offer
The activists, some of whom held signs that said "make Wall Street pay" and "President Obama investigate banks now," also marched a few blocks east and chanted in front of President Barack Obama's re-election campaign headquarters.
Those who lost their homes to foreclosure are unlikely to get their homes back or benefit much financially from the settlement, which could be as high as $25 billion. More...

Jan-23 -- Poll: Fed rate hikes seen in 2014
Housing starts dropped 4.1 percent last month and building permits fell 0.1 percent, the commerce Department showed last week, foreclosures are switching Americans into renters apparently.
Many doubt it would help much since Treasury yields are already near historic lows. More...

Jan-23 -- Orange juice ends at record peak on Brazil import ban talk
Many of the orange juice samples tested by the Food and Drug Administration in recent weeks do not contain measurable amounts of a banned fungicide tied to oranges from Brazil, the federal government announced on Friday.
Impacting the amount of supplies is the U.S. government's probe of imports of the soft commodity for the presence of a fungicide that is legal in Brazil but prohibited in the U.S. Texas verified the presence of citrus greening disease on Wednesday, which previously has proven to be damaging to crops in Florida, the globe's second-largest grower of oranges. More...

Jan-23 -- IRS extends tax deadline to April 17
I'm preparing to file my federal income tax return.
Note that an estate of a decedent dying in 2011 with assets under $5 million would not owe any estate tax and would not usually file an estate tax return. More...

Jan-23 -- World Economic Forum 2012
The signatories, including the heads of the World Bank, International Monetary Fund and World Trade Organization, comprise the "Global Issues Group" of the World Economic Forum, the Geneva-based organization that runs the exclusive annual networking shindig in the Swiss ski resort of Davos.
The industry chamber said that the objective of the Summit meeting is to bring together leaders to define the emerging vision and action plan for the future. More...

Jan-23 -- Fortuna Silver Advances After Minefinders Deal: Toronto Mover
What: Shares of Minefinders ( ASE: MFN ) soared 25% Monday after the silver and gold explorer agreed to be acquired by Pan American Silver ( NAS: PAAS ) for $1.5 billion.
At C$15.60 a share, the offer represents a 36 percent premium to Minefinders' Jan. 20 closing price. More...

Jan-23 -- Sears shares up 9% as rally continues
The Amended Domestic Credit Agreement limits our ability to make restricted payments, including dividends and share repurchases, if availability under the credit facility, as defined, is less than 15%.
SHLD shares recently traded at $47.66, down $1.34, or 2.73%. More...

Jan-23 -- Stocks Struggle to Turn Higher; Energy Gains
Heading over the Atlantic and into the U.S., focus will surround the FOMC rate decision, with the quarterly press conference from the Fed front-man Bernanke.
Troy Davig at Barcap has published a neat piece of work which estimates the FOMC's likely short rate projections from the Summary of Economic Projections (SEP) already published by the committee. More...

Jan-23 -- Apache Corp., Cordillera Energy Partners III, LLC - M&A Call
The $2.85 billion purchse of Cordillera Energy Partners III LLC announced today may just fit the bill as another of the company's astute purchases AND as an example of Apache finding value where other oil companies do not.
EnCap Investments, which is selling Cordillera Energy, would get $600 million worth of Apache shares, subject to lock-in period clause. More...

Jan-23 -- Web music revenue growth stuck in single figures
Digital music sales totaled $5.2 billion in 2011, up from $4.8 billion in 2010, according to the IFPI, a trade group that represents 1,400 music companies worldwide.
In Sweden, where the music streaming service Spotify is based, subscription revenue accounted for 84% of digital music revenue in the first 10 months of 2011. More...

Jan-23 -- South Sudan Plans to Shut Down Oil Output Over Sudan Fee Demand
JUBA (Reuters) - South Sudan said Monday it started shutting down oil production and accused Sudan of seizing $815 million worth of crude, escalating an increasingly bitter row over oil revenues between the former civil war foes.
South Sudanese President says he has no guarantee oil flowing through Republic of Sudan will reach its intended destination. More...

Jan-23 -- Romney defends investments, readies tax returns
"Speaker Gingrich worked for Fannie Mae and Freddie Mac.
To begin with, the house will need to be a principal residence, not a second home or investment property. More...

Jan-23 -- Treasuries Fall for Fourth Day Before EU Finance Ministers Meet
Concern that Europe's 17-member common currency may unravel helped drive a 9.8 percent rally in Treasuries last year, the best return since 2008, according to Bank of America Merrill Lynch index data.
The difference between two- and 10-year yields was 1.83 percentage points today, the most since Dec. 9. More...

Monday

Jan-23 -- RIM Replaces CEOs as It Seeks Answer to Apple
Balsillie, also 50, will remain a member of the board of directors.
Lazaridis was shifted to vice chairman of the company's board of directors and chairman of the board's newly formed innovation committee. More...

Jan-23 -- EU adopts oil embargo against Iran as part of sanctions over its nuclear program
Jan. 23 (Bloomberg) -- The European Union is due to ban imports of Iranian oil, a move the Islamic Republic has warned might lead it to block a major shipping corridor.
Abraham Lincoln's entry into the Gulf came in defiance of an explicit warning from Iran. More...

Jan-23 -- US Stock Futures Edge Higher On Back Of Gains In Europe
U.S. stock index futures pointed to a weaker open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.2 to 0.3 percent.
Investors showed some optimism, as European stocks swung slightly higher, but U.S. futures were flat. More...

Jan-23 -- Italian Bonds Advance as EU Finance Ministers Meet; Bunds Fall
Demand picked up after French Finance Minister Francois Baroin told journalists in Paris that a deal with private sector investors about resolving Greece's debt crisis was taking shape.
Average economic growth in Brazil , Russia , India and China will top 6 percent next year, the World Bank estimated Jan. 17. More...

Jan-23 -- Lagarde Urges Europe to Beef Up Bailout Funds
THE HEAD of the International Monetary Fund (IMF) Christine Lagarde has urged European leaders to increase the size of it multi-billion euro bailout fund.
Lagarde said to complement the 'fiscal compact', the area needs some form of fiscal risk-sharing. More...

Jan-23 -- AP's Curley to retire; led agency into digital age
Early on, Curley made it a corporate priority to push vigorously for openness in government.
With newspapers' circulation falling and profits from advertising down sharply, AP came under increasing pressure. More...

Jan-23 -- Halliburton profit tops estimates
The company admitted "reduced productivity and increased costs" prompted by relocating staff from gas rigs to oil and liquids-rich basins in North America would continue in 2012 but added it was hopeful of a short-term disruption.
"Our results in North America in 2011 were truly outstanding, with each quarter setting a new record for revenue. More...

Jan-23 -- Why Kodak failed -- and how to avoid the same fate
George Eastman was ''not especially gifted'' according to the academic standards of his age.
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Jan-23 -- Apache Tilts to US From Egypt With $2.85B Shale Buy
The Houston-based Apache Corporation, the oil and natural gas producer, has agreed to acquire closely held Cordillera Energy Partners III LLC for $2.85 billion in cash and stock, adding oil reserves in Oklahoma and Texas that can be exploited using hydraulic fracturing.
The effective date of the transaction is Sept. 1, 2011, with closing anticipated in the second quarter, subject to regulatory approval and customary closing conditions. More...

Jan-23 -- All 2011 unemployment insurance benefits taxable
On Jan. 6, the Internal Revenue Service released an estimate of the so-called "tax gap," the difference between how much is owed to the government and how much actually gets paid.
Weltman expects electronic filing to increase further because of IRS rules requiring e-filing by paid preparers who do more than 10 returns. More...

Jan-23 -- Chesapeake Cuts Natural-Gas Output, Drilling on Prices
Wherever possible, Chesapeake plans to defer completions of dry gas wells that have been drilled but not yet completed, and also plans to defer pipeline connections of dry gas wells that have already been completed.
Just how much prices could rise is uncertain. More...

Jan-23 -- Warren Buffett plays ukulele in China Lunar New Year gala
Warren Buffett has a impressively topical backdrop for the video.
New censorship rules are driving viewers away from the hours-long New Year's Gala, long a staple of the Chinese holiday. More...

Jan-23 -- German Stocks Advance as ThyssenKrupp, Banks Rally; EON Drops
Options for Inoxum include an initial public offering, spinoff, or sale, Essen-based ThyssenKrupp said in an e-mailed statement.
BHF-Bank analyst Hermann Reith said a tie-up could be possible from an anti-trust perspective as Outokumpu is strong in the U.K., Sweden and Finland while ThyssenKrupp is strong in Germany and eastern Europe. More...

Jan-23 -- Survey: Economists see modest pickup in growth for 2012, little change in job ...
LOS ANGELES -- A new economic forecast calls for the U.S. economy to make some modest growth strides this year, but not quite enough to significantly reduce the number of jobless Americans looking for work.
NABE found that 65 percent of the respondents in the January 2012 survey expect real GDP to grow at a rate exceeding 2 percent between the fourth quarter of 2011 and the fourth quarter of 2012. More...

Jan-23 -- Lowest airfares found 6 weeks before flight, study says
Even when buying airline tickets, timing is everything.
More...

Jan-23 -- Instant view: French business morale falls unexpectedly
PARIS (Reuters) - Business morale in France's manufacturing sector dropped unexpectedly in January as uncertainty over the state of the euro zone and world economy as well as upcoming elections weighed on sentiment, adding to hints that France started the year in a recession.
Attitudes toward the personal production outlook, deteriorated also to minus 37 points as French manufacturers expected that the domestic manufacturing industry would fall in the next months below its long-term average, it added. More...

Jan-23 -- Financier R. Allen Stanford goes on trial today
HOUSTON (Reuters) - No one calls him Sir Allen Stanford anymore.
According to the indictment, Stanford "perpetrated a scheme to defraud investors who purchased SIB (certificates of deposit) of billions of dollars by soliciting funds under false pretenses." More...

Jan-23 -- Minefinders agrees to Pan American Silver bid
Under the terms of the Arrangement Agreement, Minefinders shareholders will be entitled to elect to receive, in exchange for each Minefinders share held, either: (i) 0.55 shares of Pan American and $1.84 in cash; or (ii) 0.6235 shares of Pan American; or (iii) $15.60 in cash, subject to pro-ration under total aggregate cash and share pools of approximately $176 million and approximately 53 million Pan American shares, respectively, on a fully-diluted basis.
Ag Au Tonnes Ag (million Au (million Classification (million) (g/mt) oz) (g/mt) oz) Proven Reserves 71.9 31.0 71.6 0.6 1.4 Probable Reserves 51.4 28.7 47.4 0.5 0.9 Proven and Probable Reserves 123.3 30.0 119.0 0.6 2.3 Measured Resources 19.0 18.2 11.1 0.6 0.3 Indicated Resources 31.0 15.6 15.6 0.4 0.4 Measured and Indicated Resources 50.0 16.6 26.7 0.5 0.7 Inferred Resources 41.3 14.7 19.5 0.4 0.6 (2) Pro Forma cash balance based on Cash and Cash Equivalent balances as of September 30, 2011, adjusted for the cash component of the offer, the settlement of Minefinders' convertible senior notes due 2011 and the expiration of Minefinders' share purchase warrants on December 31, 2011. More...

Jan-23 -- Is Europe Listening to Italy's Two Marios?
Yields on euro debt have stopped rising and will soon begin to fall, as euro zone banks, flush with money (they picked up half a trillion euros in December, as a low-interest three-year loan under a long term refinancing operation (LTRO), and another half trillion is on offer in February) look around for a place to park their funds.
Even our own Royal Bank of Scotland took 5bn euros from the ECB. With ECB support for eurozone banks in general heading to perhaps as much as 1.3bn euros, according to Morgan Stanley, it is now widely believed that for 2012 at least eurozone banks will be able to repay what they owe. More...

Jan-23 -- International Rectifier cuts 2nd-period sales view
Initial indications show the Company's March quarter revenue trending modestly stronger than the December quarter and gross margin to decline by about 4 percentage points.
More...

Monday

Jan-23 -- Oil, Euro Fall on Greek Debt Talks
TOKYO, Jan 23 (Reuters) - The euro wobbled in Asia on Monday after Athens and its private creditors failed to agree on a debt swap deal that is vital to avert a chaotic default for Greece.
Caution returned as Greece and private creditors struggled to reach an agreement vital for restoring confidence in Europe's refinancing ability, and mixed U.S. corporate earnings revived concerns over global growth prospects and dampened investor risk appetite. More...

Jan-23 -- Greek Talks Hit a Snag Over Rates
Charles Dallara, managing director of the Institute of International Finance (IIF), a lobby group representing private creditors who have lent €47bn (£39bn) to the Greek government, has so-far failed to reach agreement on the key interest rate of the new bonds Greece will issue.
Currently, Greece's debts are equal to about 160% of GDP. Both sides are under pressure to reach agreement before Monday's meeting of euro area finance ministers, known as the Eurogroup. More...

Jan-23 -- Brent steady around $110, European debt counters Iran woes
The European Union is due to ban imports of Iranian oil, a move the Islamic Republic has warned might lead it to block a major shipping corridor.
According to sources, negotiations are on with Russia's Gazprombank since the country continues to have non-nuclear defence deals with Iran even after sanctions. More...

Jan-23 -- Paris and Berlin seek to dilute bank rules
PARIS France's finance minister, Francois Baroin, said Sunday that the financial transaction tax the government is planning to introduce will hit shares and derivatives, but not sovereign bonds.
Germany and France have been lobbying for a broad tax on financial transactions from simple stock purchases to complex currency trades. More...

Jan-23 -- Europe Giving Euro Doomsayers Pause as Investors Avoid Sanatorium at Davos
Jan. 23 (Bloomberg) -- Betting against the euro may be the most profitable trade in the foreign-exchange market as policy efforts to stave off a European recession debases the currency.
Italy, the region's third largest economy, needs to repay 25.8 billion euros of bonds next week. More...

Jan-23 -- Fed Dual Mandate Shows Bernanke's Model Working Better in Crisis
Jan. 23 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke's focus on full employment and price stability is being validated as the U.S. expansion gains speed and his counterparts in Europe emulate his approach.
Japanese inflation data (Friday) is likely to show ongoing deflation. More...

Jan-23 -- Fed Forecasts Could Awaken Treasurys
Previously, the February report contained only forecasts for the current year.
Janet Yellen -- then president of the Federal Reserve Bank of San Francisco and now Fed vice chair -- said "the situation you're handing off to your successor is a lot like a tennis racket with a gigantic sweet spot." More...

Jan-23 -- US Gasoline Rises to $3.39 a Gallon, Lundberg Survey Shows
The average price of gasoline in the United States rose again in the past two weeks, gaining nearly 3.5 cents to about $3.39 a gallon, due in part to higher crude oil prices, according to the nationwide Lundberg Survey.
More...

Jan-23 -- US Gas Glut Favors Would-Be Exporter
Energy analysts and others in the utility industry are watching whether years of low prices and rising supply, coupled with uncertainty over federal regulations to reduce power plant emissions in dozens of states , will give way to a renewed appetite for natural gas, which emits less pollutants than coal or oil when burned.
"Factors contributing to the increase in oil and gas employment in recent years include not only high oil prices, but also new shale oil and gas production and technology," Lott and Dorgan said. More...

Jan-23 -- Reports: Venezuela's Conviasa To Buy Embraer, Airbus Jets
Jan. 22 (Bloomberg) -- Venezuela's state airline Conviasa will purchase as many as 20 planes from Embraer SA and four used planes manufactured by Airbus SNC to modernize and expand the state-run company, President Hugo Chavez said.
More...

Jan-23 -- How brands survive bankruptcy
After two and a half years of litigation, the World Trade Organization in Geneva issued a "sweeping rejection of Kodak's complaints" regarding Japan's film market.
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Jan-23 -- EU Finance Ministers Meet on Crisis Solution as Greek Debt Swap Unresolved
WHILE much of Europe suffers debt downgrades and job losses, Germany can boast of cheap borrowing, near record employment and a AAA credit rating that may even prove impervious to a mild recession.
Ulrike Guerot, senior policy fellow at the European Council on Foreign Relations, describes the Franco-German tandem that had dictated the eurozone's crisis response as Berlin riding a motorbike with Paris sitting in a sidecar. More...

Jan-23 -- Judge dismisses claims of ill-health to forge ahead with jury selection in ...
The trial has been delayed due to legal manoeuvres, lawyers being hired and fired, and a prison fight that left Stanford, a towering man of six feet and four inches, badly injured.
As the worldwide financial crisis grew in 2008 and nervous investors began redeeming the CDs, Stanford falsely claimed to have invested $740 million in the bank. More...

Jan-23 -- Stamp prices go up as postal labor talks reach impasse
Dando says the price hikes will fund a cost of living increase, promoted by the Postal Regulatory Commission.
The new 45-cent price for Forever stamps is among the price changes that were filed with the Postal Regulatory Commission in October, 2011. More...

Jan-23 -- Everyone is Eligible to Free File
"For 10 years, the Free File Alliance has partnered with the IRS to give taxpayers access to leading online tax preparation software and critical step-by-step support.
According to the website, last year 2011, the VITA volunteers completed over 37,000 tax returns and over $63,000 in refunds was returned to the San Antonio community. More...

Jan-23 -- Loss of manufacturer setback for old base in Maine
Kestrel Aircraft's relocation from Maine to Superior could be a major boon for the city, creating a required minimum of 600 full-time jobs by 2016 that must pay at least $20 an hour -- or about $41,600 a year -- until 2023.
McCallum said that word about the loss of Kestrel will get around in site selection circles, because a $100 million project with 600 jobs is considered a big loss. More...

Jan-23 -- Orlando's jobless rate now at 9.5%
Because it's common for local unemployment numbers to rise in the winter months, it's no surprise the local jobless rate rose nearly two points between December and January, from 16.8 to 18.3 percent.
Hiring experts said Southwest Florida’s true unemployment picture is more grim than the numbers show because the state count doesn’t include discouraged workers who have fallen from the unemployment rolls. More...

Jan-23 -- DLD 2012 – @Jack Dorsey: "Twitter Has A Business Model That Works"
Twitter is much more than a social network and has no time to waste worrying about newcomers like Google+ as it becomes more important as an information service and builds its advertising business, co-founder Jack Dorsey said on Sunday.
In an interview with not one but two journalists (Holger Schmidt from FOCUS Magazine and Techonomy's David Kirkpatrick), Dorsey talked a great deal about Twitter and a little bit about Square. More...

Jan-23 -- Tokyo Elec may spin off fossil fuel plants -Nikkei
The document was dated March 25, 2011, two weeks after the massive earthquake and tsunami triggered the country's worst nuclear crisis.
The injection of public funds that would effectively nationalize Tepco is expected to amount to about 1 trillion. More...

Jan-23 -- Plans for high-speed rail are slowing down
As the Los Angeles Times reported, the California High-Speed Rail Peer Review Group--a state-mandated independent review board--urged state officials to delay issuing more than $2 billion in voter-approved bonds to fund the first phase of construction of a bullet train in the state's Central Valley.
Building new runways and expanding our airports and highways is the only alternative. More...

Sunday

Jan-22 -- Gingrich Primary Triumph Raises Stakes for Florida
A supporter of U.S. Republican presidential candidate and former Massachusetts Governor Mitt Romney carries a photo of Romney past a campaign worker calling potential voters in Greenville, South Carolina, January 21, 2012.
Evangelical conservatives in the state largely ignored the pleas of national Christian leaders who had voted to endorse Santorum and started coalescing behind Gingrich, the only other candidate in the race fighting over the support of the right flank. More...

Jan-22 -- Greek debt talks on knife-edge amid growing IMF pressure on bondholders
Charles Dallara, managing director of the Institute of International Finance (IIF), a lobby group representing private creditors who have lent €47bn (£39bn) to the Greek government, has so-far failed to reach agreement on the key interest rate of the new bonds Greece will issue.
Greece and its private creditors are converging towards a deal but many details are still unresolved, sources close to the negotiations said during the weekend. More...

Jan-22 -- Dow and S&P 500 post best week since Christmas
As of 3:30 p.m. ET, the Dow Jones Industrial Average rose 74 points, or 0.58%, to 12698, the SP 500 dipped 1.7 points, or 0.13%, to 1313 and the Nasdaq Composite fell 7.5 points, or 0.27%, to 2781.
The pan-European FTSEurofirst 300 index of top shares ell 0.3 percent to close at 1,043.06 points. More...

Jan-22 -- The Serial Backdoor Roth, A Tax-Free Retirement Kitty
Romney's IRA is valued at between $20.7 million and $101.6 million , according to The Wall Street Journal.
Mitt Romney may have made the classic IRA mistake: holding low-tax investments inside a tax-favored account. More...

Jan-22 -- Alabama County Scores in Fight vs. JP Morgan
U.S. Bankruptcy Judge Thomas B. Bennett in Birmingham approved a request by the county to question the investor, James R. Crane, and to review the settlement that ended his lawsuit against JPMorgan, which underwrote the bonds.
Young is now performing no billable work in the aftermath of the bankruptcy judge's orders, according to county officials and his attorney. More...

Jan-22 -- Euro Gains for First Time in Seven Weeks as Debt Concern Falls
The euro rose on Thursday, supported by a solid response to a Spanish debt auction with an improvement in risk appetite spurring investors to unwind bearish positions, although brief rallies are unlikely to break the single currency's downtrend.
The dollar was stuck near a two-week low against a basket of currencies, in the wake of the euro's recent rally. More...

Jan-22 -- Did Google Just Break Its Cash Machine?
The company's adjusted earnings per share at $9.50 was well short of the average analyst estimate of $10.49.
"And today, we're announcing over 11 billion downloads from Android markets." More...

Jan-22 -- Biotechnology Funding Hits 4-Year High as Startups Suffer
The $618.7 million in venture investments statewide last year stayed in the Denver and Boulder areas and was up 28 percent from the amount invested in 2010, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association based on data provided by Thomson Reuters.
There were 844 deals completed in the fourth quarter, down from 861 a year earlier. More...

Jan-22 -- Photography pioneer Kodak files for bankruptcy
"We're better off for it.
The Eastman Kodak Company bankruptcy filing highlights a struggle to keep up with a world where smartphones are more handy than point-and-shoot cameras. More...

Jan-22 -- Analysis: Iran's softer Gulf words don't mean nuclear shift
Pity Mr Mario Monti, Italy's technocrat prime minister.
China, India, South Korea and Japan are important export markets for Irans oil industry. More...

Jan-22 -- PayPal Will Expand In-Store Payments to 2000 Locations by March
PayPal intends to offer the service at 20 major retailers by the end of the year.
EBay also has created a so-called mobile wallet that stores credit- and debit-card information from a range of providers, giving the company control over the experience. More...

Jan-22 -- Crude May Advance on Signs of Economic Recovery, Survey Shows
Robertson said prices were also supported by the American Petroleum Institute's report Wednesday showing an unexpected drop in crude inventory last week.
Stockpiles at Cushing (DOESCROK), Oklahoma , the delivery point for Nymex oil futures, declined for a fifth week, down 2.9 percent to 28.3 million barrels. More...

Jan-22 -- Google+ User Engagement Questioned Amid Facebook Rivalry
Earnings per share rose 8.6 percent, but analysts were expecting 20 percent.
Overall, earnings for the quarter were $2.71 billion, or $8.22 a share, up from $2.54 billion, or $7.81 a share, a year earlier. More...

Jan-22 -- UN says 120000 in South Sudan need aid after fighting
KHARTOUM - The government of South Sudan has decided to stop oil production from Friday onwards, a government spokeswoman told Xinhua.
South Sudan hopes to find oil in Jonglei state where France's Total holds a largely unexplored oil license but tribal has escalated in past weeks. More...

Jan-22 -- Gingrich Used Payroll Tax Ploy Often Attacked By IRS
I'm preparing to file my federal income tax return.
According to the website, last year 2011, the VITA volunteers completed over 37,000 tax returns and over $63,000 in refunds was returned to the San Antonio community. More...

Jan-22 -- Twitter is much more than social: co-founder Dorsey
In an interview with not one but two journalists (Holger Schmidt from FOCUS Magazine and Techonomy's David Kirkpatrick), Dorsey talked a great deal about Twitter and a little bit about Square.
Twitter's Chairman Jack Dorsey attends a photocall in the Westbury Hotel to mark the opening of Founders in Dublin October 28, 2010. More...

Jan-22 -- Price of Stamps Now 45 Cents; A Postcard Will Cost You 32 Cents
Dando says the price hikes will fund a cost of living increase, promoted by the Postal Regulatory Commission.
The negotiations have been marked by the intentions of USPS to cut its labour costs, which represent around 80% of the organisation's overall operating costs. More...

Jan-22 -- Jobs estate won't be represented on Disney board
Jobs, best known for founding Apple Inc, passed away at the age of 56 after a long battle with pancreatic cancer.
The period between when Steve Jobs left Apple in 1985 and the company's eventual decline forced it to bring him back by buying his startup is a 12-year gap that gets little attention from historians of the world's most valuable tech company. More...

Jan-22 -- Q&A: World Economic Forum Davos 2012
The signatories, including the heads of the World Bank, International Monetary Fund and World Trade Organization, comprise the "Global Issues Group" of the World Economic Forum, the Geneva-based organization that runs the exclusive annual networking shindig in the Swiss ski resort of Davos.
Deshmukh visited Davos in 2008. More...

Jan-22 -- Businessman Stanford goes on trial
The trial has been delayed due to legal maneuvers, attorneys being hired and fired, and a prison fight that left Stanford, a towering man of six feet and four inches (193 centimeters), badly injured.
As the worldwide financial crisis grew in 2008 and nervous investors began redeeming the CDs, Stanford falsely claimed to have invested $740 million in the bank. More...

Sunday

Jan-22 -- Gingrich's Comeback Based on Plan Hatched During Airport Ride
In less than two weeks, Gingrich surged from a double-digit deficit to a double-digit win in South Carolina -- the state in which the winner has gone on to capture the Republican presidential nomination since 1980.
Karen Vidal, of Eatonton, Ga., listens as Republican presidential candidate former House Speaker Newt Gingrich speaks during a campaign rally aboard the USS Yorktown Friday, Jan. 20, 2012, in Mt. More...

Jan-22 -- Greek debt talks hit snag
CRUCIAL talks over a Greek debt writedown failed to come to a conclusion at the weekend, leaving the sharemarket to open under a cloud of uncertainty today.
An increasing proportion of the bondholder base is made up of hedge funds, who certainly don't care what Dallara thinks. More...

Jan-22 -- US dollar's detractors may be missing its comeback
The euro rose on Thursday, supported by a solid response to a Spanish debt auction with an improvement in risk appetite spurring investors to unwind bearish positions, although brief rallies are unlikely to break the single currency's downtrend.
The euro held steady against the dollar on Friday, moving towards its biggest weekly gain of the year. More...

Jan-22 -- Did Google Just Break Its Cash Machine?
The company's adjusted earnings per share at $9.50 was well short of the average analyst estimate of $10.49.
There were also new fears that Google's less-costly mobile ads are cannibalizing the more lucrative ads viewed on PCs. More...

Jan-22 -- Biotechnology Funding Hits 4-Year High as Startups Suffer
Venture firms invested $28.4 billion in 3,673 U.S. deals in 2011, an increase of 22 percent in dollars and a 4 percent rise in the number of deals compared with the prior year, according to the MoneyTree Report by PricewaterhouseCoopers LLP and the National Venture Capital Association, based on data from Thomson Reuters.
Concentrating more cash among a smaller number of companies signals a couple of different trends depending on the industry, said National Venture Capital Association President Mark Heesen. More...

Jan-22 -- How the Dow Jones industrial average and other major stock indexes fared on Friday
As of 3:30 p.m. ET, the Dow Jones Industrial Average rose 74 points, or 0.58%, to 12698, the SP 500 dipped 1.7 points, or 0.13%, to 1313 and the Nasdaq Composite fell 7.5 points, or 0.27%, to 2781.
The pan-European FTSEurofirst 300 index of top shares ell 0.3 percent to close at 1,043.06 points. More...

Jan-22 -- Photography pioneer Kodak files for bankruptcy
It was only earlier this month, with a reorganisation into divisions focusing on consumer and commercial customers, that Kodak finally broke down the internal barriers that had left it divided by technology, Mr Zupan said.
Kodak filed for bankruptcy yesterday, listing assets of $5.1 billion and debt of $6.8 billion. More...

Jan-22 -- As Price of Oil Soars, Users Shiver and Cross Their Fingers
Energy analysts and others in the utility industry are watching whether years of low prices and rising supply, coupled with uncertainty over federal regulations to reduce power plant emissions in dozens of states , will give way to a renewed appetite for natural gas, which emits less pollutants than coal or oil when burned.
The report also shows that employment in oil and natural gas extraction and support services is up 11 percent since October 2008 (pre-recession) according to the Bureau of Labor Statistics. More...

Jan-22 -- Bonus season not as festive for bank CEOs
NEW YORK J.P. Morgan Chase & Co. (JPM) Chairman and Chief Executive Jamie Dimon was awarded $17 million in equity compensation for 2011, the year he led his bank to claim the heavyweight title of biggest U.S. bank by assets.
Morgan Stanley had per-share losses in two of the past three quarters as it took charges to eliminate swap contracts purchased from MBIA Inc. (MBI) and to convert Mitsubishi UFJ Financial Group Inc.' s preferred stake to common shares. More...

Jan-22 -- PayPal Will Expand In-Store Payments to 2000 Locations by March
PayPal intends to offer the service at 20 major retailers by the end of the year.
EBay also has created a so-called mobile wallet that stores credit- and debit-card information from a range of providers, giving the company control over the experience. More...

Jan-22 -- Iraqi oil minister says OPEC should not be dragged into Iran-West dispute over ...
"China believes the Iran nuclear issue should be resolved peacefully through dialogues and negotiations, and that sanctions and military means will not fundamentally address the problem," Xinhua said, citing Chinese Assistant Foreign Minister Wu Hailong at the Friday meeting.
The powers said talks would resume once Teheran showed it is serious on the matter. More...

Jan-22 -- Report: South Sudan sues Khartoum over oil
KHARTOUM - The government of South Sudan has decided to stop oil production from Friday onwards, a government spokeswoman told Xinhua.
Chinese customs data does not differentiate imports from South Sudan, which seceded in July, taking with it about two-thirds of the formerly united country's oil output. More...

Jan-22 -- Will The Real Google+ Engagement Figures Please Stand Up?
Earnings per share rose 8.6 percent, but analysts were expecting 20 percent.
Perhaps more importantly, Google for the first time provided details about how often people actually use Google+. More...

Jan-22 -- In Age of Discontent, Is Davos Still Relevant?
Next week, I am participating in the annual meeting of the World Economic Forum in Davos, Switzerland, which brings together heads of state, businesses and other leaders to exchange ideas and explore solutions for the most pressing issues facing societies around the globe.
HARTFORD -- Gov. Dannel P. Malloy will join the international jet set, chiefs of state and top business executives from around the world next week when he journeys to a posh Swiss resort for the annual World Economic Forum. More...

Jan-22 -- U.S. Home Sales Rise 5% to 4.61 Million Pace in December
The housing market ended 2011 mired in the same pattern that afflicted it for much of the first 11 months: improving sales fueled by bargain hunters and investors but declining median prices depressed by the sales of low-priced foreclosures and short sales.
Foreclosures(3) sold for an average discount of 22 percent in December, up from 20 percent a year ago, while short sales closed 13 percent below market value compared with a 16 percent discount in December 2010. More...

Jan-22 -- "Occupy" targets banks, corporate campaign spending
SAN FRANCISCOAct II of the Occupy Wall Street movement, San Francisco version, kicked off on a rainy, blustery Friday in the heart of the city's financial district.
Multiple blocks of California Street and Montgomery Street were blocked for hours today by the demonstrations and the ensuing response by police in riot gear. More...

Jan-22 -- Illinois unemployment rate drops to 9.8 percent (AP)
Ben Johnson, spokesman for the Ohio Department of Job and Family Services, said there is no way to know from the state's estimates why the labor force is smaller.
The metro area experienced an annual rate of job gain of 0.4 percent, while the state gained jobs at a rate of 1.6 percent. More...

Jan-22 -- Intel Shuffles Executives Gives Clues on CEO Race
Brian Krzanich, who was previously senior vice president in charge of Intel's worldwide manufacturing under Bryant, has been named Intel's chief operating officer and now reports directly to Intel president and CEO, Paul Otellini.
Bryant joined the company in 1985 and has previously run Intel's Server Platforms Group. More...

Jan-22 -- GM regains crown as world's top-selling automaker
On Thursday the company reported net income of $US7.1 billion ($6.83 billion) for the first three quarters of last year and it is expected to add to that number when it reports fourth-quarter and full-year results in February.
Boy, that villain Obama saved GM and countless jobs just to end up with crappy headline like this. More...

Jan-22 -- Orange Juice Safe for Consumption
Many of the orange juice samples tested by the Food and Drug Administration in recent weeks do not contain measurable amounts of a banned fungicide tied to oranges from Brazil, the federal government announced on Friday.
Prices on ICE Futures U.S. are up 19 percent in January, heading for the biggest monthly gain since October 2009. More...

Sunday

Jan-22 -- Bonus season not as festive for bank CEOs
NEW YORK J.P. Morgan Chase & Co. (JPM) Chairman and Chief Executive Jamie Dimon was awarded $17 million in equity compensation for 2011, the year he led his bank to claim the heavyweight title of biggest U.S. bank by assets.
A person close to the bank said Dimon's award was valued by the company as $17 million the day it was awarded by the board of directors. More...

Jan-22 -- Greek Debt-Swap Deal 'Coming Into Place,' IIF's Dallara Says
Charles Dallara, managing director of the Institute of International Finance (IIF), a lobby group representing private creditors who have lent €47bn (£39bn) to the Greek government, has so-far failed to reach agreement on the key interest rate of the new bonds Greece will issue.
Greek officials were confident a debt relief deal can be reached "very soon," after hours-long negotiations in Athens with private creditors were adjourned until Saturday. More...

Jan-22 -- GE Profit Slides on Pricing
Industrial operating activities generated a total of $12.1 billion in 2011, beating most forecasts.
Equipment orders price was up 1.9% and we ended the quarter with a backlog of $22.5 million, up 12% versus last year. More...

Jan-22 -- Indexes mixed on Big Blue results, home sales
IBM, meanwhile, rivaled Intel for the best performance of Thursday's earnings reports, detailing an adjusted earnings per share of $4.71, easily surpassing analysts' expectations of $4.61.
The Dow pushed higher on positive earnings reports from IBM (up 4.4 percent), Microsoft (up 5.7 percent) and Intel (up 2.9 percent). More...

Jan-22 -- The IRS audit: Basic facts about taxpayers' worst nightmare
"Protecting taxpayer data is our top priority."
Three bits of advice from Mark Steber, chief tax officer for Jackson Hewitt Tax Services, to taxpayers beginning to think about 2011 returns: "You need to be organized, you need to collect your records, you need to electronically file." More...

Jan-22 -- Kodak a faint image of its former self
It was only earlier this month, with a reorganisation into divisions focusing on consumer and commercial customers, that Kodak finally broke down the internal barriers that had left it divided by technology, Mr Zupan said.
The picture of what Eastman Kodak's future will look like remains blurry despite its Thursday filing for Chapter 11 bankruptcy protection. More...

Jan-22 -- Did Google Just Break Its Cash Machine?
Thursday afternoon, Google reported net revenue growth of 28 percent, but that wasn't enough for analysts and investors: The company's adjusted earnings per share of $9.50 fell far short of the average analyst estimate of $10.49, as calculated by Thomson Reuters.
Google's heavy investments in mobile and social network initiatives -- to stave off competition from rivals Apple and Facebook -- and its planned $US12.5 billion acquisition of smartphone maker Motorola Mobility Holdings Inc have raised investors' concerns. More...

Jan-22 -- Biotechnology Funding Hits 4-Year High as Startups Suffer
The $618.7 million in venture investments statewide last year stayed in the Denver and Boulder areas and was up 28 percent from the amount invested in 2010, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association based on data provided by Thomson Reuters.
Venture-capital investments fell both nationally and in the Seattle area in the fourth quarter of 2011, according to the VentureSource and MoneyTree surveys. More...

Jan-22 -- Sears stock rises on speculation it may go private
Shares of Sears Holdings Corp. (NASDAQ: SHLD) are jumping this morning on increased speculation that majority shareholder Eddie Lampert will take the company private.
The recent payment leaves the Hoffman Estates-based owner of Sears and Kmart stores with about $4 billion in liquidity, including about $700 million in cash and $3.3 billion in available credit. More...

Jan-22 -- Roubini On Steroids: Zombie Economy In A G-Zero World
China's economy will slow in 2012, prompting policy makers to reduce interest rates and loosen lending restrictions, said Nouriel Roubini, the economist who predicted the 2008 financial crisis.
Some of the most volatile days on record occurred in 2011, with the Dow Jones Industrial Average posting four consecutive days of 400-point swings, the longest streak since data began in 1896. More...

Jan-22 -- PayPal Will Expand In-Store Payments to 2000 Locations by March
PayPal intends to offer the service at 20 major retailers by the end of the year.
EBay also has created a so-called mobile wallet that stores credit- and debit-card information from a range of providers, giving the company control over the experience. More...

Jan-22 -- The New "ARMs" Race
Revenue also rose to US$54 billion, or a spike of 24 percent, with the fourth quarter contributing US$13.9 billion, it added.
For the full year, the company bought back 642 million shares for a total of $14.1 billion. More...

Jan-22 -- Crude May Advance on Signs of Economic Recovery, Survey Shows
Robertson said prices were also supported by the American Petroleum Institute's report Wednesday showing an unexpected drop in crude inventory last week.
The price of oil lingered around US$100 a barrel this week, helping to keep retail gasoline prices at their highest levels ever for this time of year. More...

Jan-22 -- Final totals show 23 arrested in Occupy protest
SAN FRANCISCOAct II of the Occupy Wall Street movement, San Francisco version, kicked off on a rainy, blustery Friday in the heart of the city's financial district.
LOWER MANHATTAN -- City Councilman Ydanis Rodriguez and dozens of other Occupy Wall Street protesters arrested in the NYPD's Nov. 15 raid of Zuccotti Park appeared in Manhattan Criminal Court Friday, the first large round of court dates for the "eviction" arrests. More...

Jan-22 -- Davos guide: what you need to know about the World Economic Forum
The signatories, including the heads of the World Bank, International Monetary Fund and World Trade Organization, comprise the "Global Issues Group" of the World Economic Forum, the Geneva-based organization that runs the exclusive annual networking shindig in the Swiss ski resort of Davos.
The state's economic development commissioner, Catherine Smith, will be attending with Malloy. More...

Jan-22 -- California unemployment falls to 11.1% as payrolls grow
Ben Johnson, spokes-man for the Ohio Department of Job and Family Services, said there is no way to know from the state's estimates why the labor force is smaller.
The number of people unemployed in California was 2,021,000 - down by 37,000 over the month, and down by 252,000 compared with December of last year, the Employment Development Department said. More...

Jan-22 -- Google Sales Short of Estimates on Slow European Economy
Earnings per share rose 8.6 percent, but analysts were expecting 20 percent.
CEO Larry Page was upbeat. More...

Jan-22 -- U.S. Home Sales Rise 5% to 4.61 Million Pace in December
The housing market ended 2011 mired in the same pattern that afflicted it for much of the first 11 months: improving sales fueled by bargain hunters and investors but declining median prices depressed by the sales of low-priced foreclosures and short sales.
Homebuilders are growing more optimistic the housing market is recovering. More...

Jan-22 -- Southwest: 15 AirTran cities will be cut
"We'll have big schedule changes occurring within the AirTran unit throughout the year," Southwest chief executive Gary Kelly said during the company's analyst conference call Thursday on its $178 million profit report for 2011.
The low-fare carrier also promotes itself as fun. More...

Jan-22 -- UN says 120000 in South Sudan need aid after fighting
"The South Sudanese government will not allow stealing more of the south's oil by the authorities in Sudan.
Sudan's principal stance is that cooperation on oil and other issues should continue for the benefit of the two countries. More...