Business Topics Overviews

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

Monday (Update 1)

Mar-15-2009 -- Credit Agency Warns US and Others of Risk to Top Rating
The U.S. and UK government were today breathing a massive sigh after credit rating agency Moody's said the countries' prized AAA ratings are safe - for the time being.
Under the ratings company's baseline scenario the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country except the UK, and will be the biggest spender from 2011 to 2013, Moody's said today in a report. More...

Mar-15-2009 -- US Economy: Production Gain Points to Pickup in Investment
The output of utilities rose 0.5 percent, as an increase in electric utilities more than offset a decline in natural gas utilities.
Demand is solid, and while inventory rebuilding has contributed to the sector's rebound. More...

Mar-15-2009 -- Consol to buy Dominion gas assets for $3.48 billion
Dominion's regulated businesses are now expected to contribute about 70% of consolidated operating earnings in 2011, up from less than 45% in 2006.
Upon completion of the transaction, CONSOL Energy's natural gas business is expected to account for as much as 35 percent of CONSOL Energy's total revenue. More...

Mar-15-2009 -- Phillips-Van Heusen Takes On Tommy
The company behind Calvin Klein has bought fellow U.S. fashion brand Tommy Hilfiger for '2bn.
Shares of Phillips-Vah Heusen rose $4.98, or 10.4 percent, to $52.70 during midday trading, after earlier reaching a 52-week high of $54.64. More...

Mar-15-2009 -- Oil plummets amid renewed uncertainty
OPEC members excluding Iraq pumped 26.8 million barrels a day last month, 1.9 million more than targeted, data compiled by Bloomberg show.
With oil above US$80 per barrel, most analysts expect a decision to leave OPEC's output ceiling unchanged. More...

Mar-15-2009 -- TREASURIES-Bonds fall on scarce buying before Fed meeting
Net buying of long-term equities, notes and bonds totaled $19.1 billion, compared with net purchases of $63.3 billion in December, according to Treasury Department data released today in Washington.
Some investors reentered into steepening trades that involved selling longer-dated Treasuries, analysts said. More...

Mar-15-2009 -- PepsiCo hikes dividend 7%, to buy back $15 bln of stock
PURCHASE, N.Y. — PepsiCo says it will buy back up to $15 billion shares of its common stock through June 2013.
Shares rose nearly 2 percent in premarket trading and closed up 56 cents at $65.66. More...

Mar-15-2009 -- Analyst lifts Wal-Mart Stores rating, price target
Shares of Wal-Mart Stores ( WMT ) are up 68 cents, or 1.3%, at $54.58 after Citigroup analyst Deborah Weinswig this morning raised her rating on the stock to "Buy" from "Hold," and increased her price target to $65 from $54, arguing the company is primed to lower prices broadly, to recapture customers.
If you've been there lately you can see how it looks a lot different in the past. More...

Mar-15-2009 -- Global stocks slip as caution reins, dollar gains
On Friday, the dollar fell against major currencies but rose versus the yen following conflicting reports on retail sales and consumer confidence.
KAN: Japan FinMin Kan reported saying, - BOJ has been and will be working with Govt. to beat inflation - BOJ understands Govt's expectations through discussions in parliament - Concerns about double dip recession have receded - Yen relatively stable now - Concerns remain that euro's woes could affect yen. More...

Mar-15-2009 -- Pinnacle names Sanfilippo to CEO job
Sanfilippo, 51, has more than 25 years of industry experience, and was president, chief executive and a board member of Multimedia Games Inc ( MGAM.O ), a gaming technology developer and distributor, since June 2008.
Pinnacle announced that Sanfilippo is purchasing 125,000 shares of the company's common stock at $8.64 per share, which was the closing price on Friday on the New York Stock Exchange. More...

Mar-15-2009 -- Illinois Tool Works boosts low-end of 1Q outlook
BOSTON, March 15 (Reuters) - Diversified U.S. manufacturer Illinois Tool Works Inc ( ITW.N ) reported a 10 percent rise in operating revenue for the three months ended Feb. 28 and raised the low end of its first fiscal quarter profit forecast.
The 2010 full-year forecast assumes a total revenue growth range of 10 percent to 14 percent. More...

Mar-15-2009 -- Pegasystems to buy Chordiant Software for $162 mln
BPM specialist Pegasystems is to buy customer relationship management software firm Chordiant in a cash deal worth around $161 million.
Pegasystems says significant closing costs, integration expenses and other purchase accounting valuation charges related to the acquisition will be dilutive to Gaap reported earnings. More...

Monday

Mar-15-2009 -- Philips-Van Heusen Nears Deal to Buy Tommy Hilfiger
Tommy Hilfiger, based in Amsterdam, earned 270 million euros in earnings before interest, taxes, depreciation and amortization on 1.6 billion euros in sales in the year ended March 2009, the JPMorgan analysts said.
Apax has twice sought an initial public offering for the clothier, and Tommy Hilfiger's chief executive, Fred Gehring, told Reuters in September that an I.P.O. was the most likely next step for the company. More...

Mar-15-2009 -- ADIA Says as Much as 45% of Assets Invested in Developed World
Invest AD, once a regional investment vehicle for Adia, has become a third-party fund manager.
Economic recovery may be slower in developed markets, with higher interest rates and taxes hampering growth, Sheikh Ahmed wrote in a letter published in the first annual review. More...

Mar-15-2009 -- Lehman report casts auditors in poor light
Scores of books and magazine articles have chronicled Lehman's rapid and ruinous fall from global investment banking powerhouse to the largest corporate failure in U.S. industry.
NEW YORK'''On Sep. 10, 2008, Lehman Brothers Chief Executive Officer Richard S. Fuld declared that his company had a '''strong and clean balance sheet, which will allow us to focus on supporting our core client businesses''' on a conference call with analysts. More...

Mar-15-2009 -- Andy on Struggling Post Office
Ending Saturday delivery would save about $3.5 billion per year.
Strickland said basing carriers out of Burlington would affect mail delivery. More...

Mar-15-2009 -- China's Stocks Decline to Five-Week Low on Tightening Concern
Bank of China ( 3988.HK )( 601988.SS ), the fourth-largest lender, has announced plans to issue as much as 40 billion yuan in six-year convertible bonds and said it wants to issue more shares in Hong Kong soon that could be worth about HK$60 billion ($7.74 billion).
The CSI 300 Index fell 1.3 percent to 3,233.13. More...

Mar-15-2009 -- Prospects for China's natural-gas industry grow
The quarterly earnings still represented a 46 percent jump in fourth-quarter net profit, after a harsh winter stoked demand for coal, which accounts for almost four-fifths of China's electricity supply, and pushed up prices in China.
The stock gained 0.8 percent to HK$12.88. More...

Mar-15-2009 -- The truth about health insurance premiums and profits
In an attempt to garner support for liberal health care "reform" legislation, President Barack Obama has ramped up the anti-insurance company rhetoric in the past month.
President Obama, who also spoke out against large rate hikes -- particularly, a 39% jump by Anthem Blue Cross set to go into effect in California on May 1 -- stopped by for part of the meeting. More...

Mar-15-2009 -- RATE FUTURES REPORT: Plenty Of Put Options Bought Before FOMC
Prices move inversely to yield.
The big question is how much mortgage rates will rise and how quickly as a result, even if the central bank has kept the door open about reviving the program. More...

Mar-15-2009 -- Social Security to start cashing Uncle Sam's IOUs
This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes ''' nearly $29 billion more.
The rest came from various government trust funds, including retirement funds for civil servants and the military. More...

Mar-15-2009 -- Higgins continues to monitor gas prices
The average price of regular unleaded gas in Rhode Island rose to $2.80, according to figures released Friday by the Rhode Island Office of Energy Resources .
It's starting to warm up and people will want to travel. More...

Mar-15-2009 -- Police waited 2 months to investigate lab tech
Charges have not yet been filed in the San Mateo County case, and Madden has not been arrested in connection with the San Francisco case.
The police chief insisted the theft was isolated to just the one employee. More...

Mar-15-2009 -- Low-income filers rush for tax refunds
The 1040EZ is a simplified, six-section Federal income tax return, issued by the United States''' Internal Revenue Service.
The Children's Fitness Amount Tax Credit entitles you to claim a credit based on up to $500 per child, to cover costs of enrolling the child in a qualifying fitness program. More...

Sunday (Update 1)

Mar-14-2009 -- GOP wants Dodd to slow down on financial reform legislation
The Senate Banking Committee'''s chairman, Christopher J. Dodd, Democrat of Connecticut, proposed legislation in November that would give a new consumer protection agency the power to write and enforce rules governing payday lenders, debt collectors and other financial companies that are not part of banks, Sewell Chan reports in The New York Times.
Dodd said in the interview that it was less important where the agency was housed. More...

Mar-14-2009 -- Bernanke Stimulus Exit May Be Aided by Yellen, Raskin
The White House on Friday said that the 63-year-old UC Berkeley professor emeritus is a "leading contender" to be vice chairwoman of the Fed. "She's a brilliant academic with incredible credentials and a very agreeable person who will do very well in the job," said Michael Bordo, an economics professor at Rutgers University and a member of the Shadow Open Market Committee, a group of economists whose ideology is the reverse of Yellen's.
A more recent plan that is reportedly gaining support in the Senate would create the new regulatory authority, but place it under the Fed. Another measure, which has received massive public and congressional support, would allow the Government Accountability Office to audit the Fed. But, the central bank and its allies are putting up a strong fight in a bid to allow the institution to maintain its authority and to prevent transparency. More...

Mar-14-2009 -- Expenses incurred buying a house can be a risk
WASHINGTON — The head of the Federal Housing Administration is warning that boosting the minimum down payment borrowers must provide to qualify for home loans backed by the agency could threaten the housing market.
Defaults on loans insured by the agency over the past three years have mounted amid the economic downturn, depleting the agency's reserves. More...

Mar-14-2009 -- FAA requires inspection of 600 Boeing 737s
The Federal Aviation Administration (FAA) issued an emergency airworthiness directive Friday requiring that airlines inspect about 600 Boeing 737s to check a mechanism that controls the flap on the horizontal tails of the jets.
The FAA reports that the vibration on board that Boeing 737 was due to a lug failure on an elevator control mechanism. More...

Mar-14-2009 -- Tanker spat raises threat to US arms sales
The announcement last week that Northrop Grumman and its European partner EADS were pulling out of a bid for a $35 billion contract to build air-refueling tankers for the U.S. Air Force was no surprise.
Now the latest news is that EADS seeks an American company as partner to replace Northrop, and wants the tanker competition delayed to accomplish this. More...

Mar-14-2009 -- Three Failed Banks Closed Friday; 2010 Total At 30
Valley has served the northern and central New Jersey and New York metropolitan areas for over 80 years and has a healthy balance sheet, and strong capital and liquidity positions.
Amcore Financial is one of about half a dozen financially ailing Chicago area banks that the Federal Deposit Insurance Corp. is putting up for bids from potential buyers, according to a published report. More...

Mar-14-2009 -- IRS offers help paying taxes
Every year Americans pay about $3 trillion in taxes.
The IRS says nationwide it has more than $1.3 billion in refund money for 1.4 million people who didn't file a 2006 return. More...

Mar-14-2009 -- Shoppers Buck Snowstorm to Push Retail Sales Higher
Prospects would improve if businesses, which have shed 8.4 million jobs since the recession began in December 2007, start rehiring laid-off workers.
The report found 66% of department-store shoppers, 55% of apparel consumers and 53% of electronics shoppers had switched retailers to find lower-priced goods. More...

Mar-14-2009 -- Apple's Cook Gets $22 Million Bonus
Apple today filed a Form 8-K submission with the U.S. Securities and Exchange Commission disclosing a bonus of $5 million and 75,000 shares of Apple stock paid to Chief Operating Officer Tim Cook in recognition of his performance during Steve Jobs' leave of absence for a liver transplant during the first half of 2009.
The bonus was awarded on March 10 and is discretionary, which means that the board did not''specifically''attach it to anything in Cook's employment contract or the company's executive compensation program. More...

Mar-14-2009 -- Euro finance ministers to agree on Greek aid: source
In a letter released Thursday, Sarkozy, Merkel and the leaders of Luxembourg and Greece asked European Commission President Jose Manuel Barroso to launch an inquiry into the role of credit default swaps in the trading of government bonds in European countries.
You have said that Greece should not be a crisis but a case study. More...

Mar-14-2009 -- US court backs ban on some cable TV program deals
In 2007, when the FCC extended the rules for five years, seven of the 20 most popular cable networks were affiliated with the four largest cable operators, Comcast, Cablevision, Time Warner Cable Inc. and Cox Communications Inc., the court said.
Kavanaugh points to the fact that the second and third-largest MVPDs, DISH and DirecTV are not subject to the exclusivity ban, while Cablevision, the seventh largest, is. More...

Mar-14-2009 -- Black and Decker timeline
The New York Stock Exchange suggested that Black & Decker Corp. should have considered a board member's real estate partnership with Chief Executive Nolan D. Archibald when deeming that director independent for the purposes of evaluating a merger with The Stanley Works.
The deal also has come under regulatory scrutiny in the past week. More...

Sunday

Mar-14-2009 -- Euro finance ministers to agree on Greek aid: source
In a letter released Thursday, Sarkozy, Merkel and the leaders of Luxembourg and Greece asked European Commission President Jose Manuel Barroso to launch an inquiry into the role of credit default swaps in the trading of government bonds in European countries.
You have said that Greece should not be a crisis but a case study. More...

Mar-14-2009 -- IRS offers help paying taxes
Every year Americans pay about $3 trillion in taxes.
Tax officials estimate the median unclaimed refund for 2006 non-filers is $604. More...

Mar-14-2009 -- Old Southern Bank seized, changes hands
Valley has served the northern and central New Jersey and New York metropolitan areas for over 80 years and has a healthy balance sheet, and strong capital and liquidity positions.
To protect the depositors, the FDIC entered into a purchase and assumption agreement with Centennial Bank, Conway, Arkansas, to assume all of the deposits of Old Southern Bank. More...

Mar-14-2009 -- Bernanke Stimulus Exit May Be Aided by Yellen, Raskin
The veteran public servant is currently president of the San Francisco Federal Reserve Bank.
Yellen is likely to be tougher on banks than many Republicans would like. More...

Mar-14-2009 -- Chinese Feb inflation higher than expected-c bank chief
The S&P 500 rose to a 1-1/2 month high and the Nasdaq Composite rallied to a 1-1/2 year high.
With no major economic data scheduled for release on Friday, Mr Turner said investors would look forward to the minutes of the Reserve Bank of Australia's (RBA) March 2 board meeting, due for release next Tuesday, March 16. More...

Mar-14-2009 -- Apple's Cook Gets $22 Million Bonus
Apple today filed a Form 8-K submission with the U.S. Securities and Exchange Commission disclosing a bonus of $5 million and 75,000 shares of Apple stock paid to Chief Operating Officer Tim Cook in recognition of his performance during Steve Jobs' leave of absence for a liver transplant during the first half of 2009.
As long as his bonus is tightly tied to performance I don't care. More...

Mar-14-2009 -- Orange County Sues Toyota
Tony Rackauckas, the District Attorney of Orange County has confirmed filing a civil law suit against the company on accounts of unfair business practices in Orange County Superior Court.
The lawsuit also named Toyota Motor Sales USA and the automaker's Japanese and U.S. lending arms. More...

Mar-14-2009 -- Treasury Two-Year Notes Fall as Greece's Deficit Crisis Eases
STRONG DEMAND: A government auction of $13 billion in 30-year bonds drew the highest demand since September.
NEW YORK — Interest rates were mixed in the bond market Thursday after a government auction of 30-year bonds drew the highest demand since September. More...

Mar-14-2009 -- Borrowers in foreclosure prevention plan losing mortgage aid
About 91,483 three-month trial modifications have been given a green signal by the companies servicing the mortgages.
Wells Fargo had 139,065 HAMP active trial and completed modifications in place as of Feb. 28, including 24,975 permanent modifications and 7,533 permanent modifications pending completion. More...

Mar-14-2009 -- US, Europe at odds over global financial reform
Spain currently holds the rotating presidency of the European Union.
Geithner adds: "You will see that our approach in the U.S. maintains full access for EU fund managers and custodians to our market." More...

Mar-14-2009 -- Compensation For NY Times Chairman More Than Doubles
NEW YORK — Charging online readers will give The New York Times a critical second revenue stream but the print newspaper will be important for "many years to come," publisher Arthur Sulzberger said Thursday.
According to a report in Crain's Business New York, Sulzberger said "Having that direct relationship with our customer is critical. More...

Mar-14-2009 -- Grapevine Moth Forces Quarantine for Part of Napa Valley
SONOMA, Calif. (KCBS) -- A new, potentially devastating pest has been found in Napa Valley, prompting state officials to issue a quarantine on the movement of fruit, plants and farm equipment.
Cooperation means relaxing the decade-long push toward low-impact farming. More...

Saturday (Update 1)

Mar-13-2009 -- Democrats try to find the right compromises for financial reform
Democrats, who control 59 votes in the Senate, would have to successfully woo at least one Republican to achieve the 60 votes needed to overcome a filibuster.
If Dodd and Democratic leaders cannot win passage on the Senate floor, that would kill financial reform and hand Obama a damaging political defeat ahead of the elections. More...

Mar-13-2009 -- Shoppers Buck Snowstorm to Push Retail Sales Higher
Prospects would improve if businesses, which have shed 8.4 million jobs since the recession began in December 2007, start rehiring laid-off workers.
Stocks rose some on the retail data, then dipped on a weak consumer sentiment report. More...

Mar-13-2009 -- County DA files deceptive practices suit against Toyota
SANTA ANA, California (Reuters) - Southern California prosecutors filed the first U.S. consumer protection lawsuit against Toyota Motor Corp on Friday, claiming it had engaged in "fraud" by hiding evidence of dangerous vehicle defects.
Toyota said in a statement that it "has not received the complaint and is not in a position to comment on pending litigation." More...

Mar-13-2009 -- US court backs ban on some cable TV program deals
In 2007, when the FCC extended the rules for five years, seven of the 20 most popular cable networks were affiliated with the four largest cable operators, Comcast, Cablevision, Time Warner Cable Inc. and Cox Communications Inc., the court said.
Petitioners are correct in pointing out that the MVPD market has changed drastically since 1992. More...

Mar-13-2009 -- Valley National Buys Two Banks in Two Days Amid Lender Failures
Valley has served the northern and central New Jersey and New York metropolitan areas for over 80 years and has a healthy balance sheet, and strong capital and liquidity positions.
Amcore Financial is one of about half a dozen financially ailing Chicago area banks that the Federal Deposit Insurance Corp. is putting up for bids from potential buyers, according to a published report. More...

Mar-13-2009 -- US arms buyer rejects protectionism charge
Northrop Grumman Corp.' s decision this week to drop out of the competition to build the next generation of refueling tankers for the U.S. Air Force could be more beneficial than bad for the Utah economy.
By contrast, the Northrop-EADS tanker would lead to the creation of no more than 7,080 new U.S. jobs, the study said. More...

Mar-13-2009 -- FBI details most difficult Internet scams
Individuals lost a record $559.7 million to online theft scams in 2009, says the report by the Internet Crime Complaint Center, a joint effort among the FBI, the Bureau of Justice Assistance and the National White Collar Crime Center.
The number of reports increased 22.3% in 2009 over 2008, and reported losses soared to $559.7 million, up from $265 million a year earlier. More...

Mar-13-2009 -- Cabbies Overcharged Customers by $8.3 Million, Agency Says
NEW YORK — Thousands of New York City taxi drivers overcharged passengers by more than $8.3 million over the past two years by setting their meters at a rate that was supposed to be used for trips to the suburbs, the Taxi and Limousine Commission said Friday.
When activated, the meter would show the new fare code, but I doubt anyone sitting in the back would actually notice. More...

Mar-13-2009 -- Lions Gate not Confident of Icahn's Business Ability ''' Refutes his Bid
Before the open, Lions Gate Entertainment (LGF 5.67) announced that its Board of Directors, in consultation with its financial and legal advisors, has determined, by unanimous vote of the directors present, that the unsolicited partial tender offer from Carl Icahn and certain of his affiliated entities to purchase up to 13,164,420 common shares of Lions gate for $6.00 per share is financially inadequate and coercive and is not in the best interests of Lionsgate and its shareholders and other stakeholders.
The board said Icahn's tender offer is an effort to acquire control of Lionsgate on the cheap and exert influence on decisions regarding major acquisitions, including new "investment in films and television programs, among other actions, despite limited experience in the film industry." More...

Mar-13-2009 -- France and UK seek hedge fund deal
Spain currently holds the rotating presidency of the European Union.
Save for later or keep reading. More...

Mar-13-2009 -- US regulators examine competition in agriculture
Flanked by U.S. Agriculture Secretary Tom Vilsack, the attorney general said the Justice Department is "committed to protecting competition vigorously," but enforcement of antitrust statutes alone will not protect farmers.
Today's workshop is the brainchild of Christine Varney, the attorney general's antitrust chief, who came up with the idea for the hearings after hearing concerns from legislators in farming states. More...

Mar-13-2009 -- Schwab Issues Profit Warning
Discount brokerage Charles Schwab Corp. said Friday it expects earnings for the first quarter to lag as much as 4 cents a share behind fourth-quarter results as the dampening of its trading revenue continues.
Rival TD Ameritrade Holdings Corp., which unlike Schwab and Fidelity Investments has not offered lower commissions, has also been hurt by low interest rates. More...

Saturday

Mar-13-2009 -- Shoppers Buck Snowstorm to Push Retail Sales Higher
Prospects would improve if businesses, which have shed 8.4 million jobs since the recession began in December 2007, start rehiring laid-off workers.
Feb.' s sales gain, fueled by widespread increases, showed that consumers were spending more freely. More...

Mar-13-2009 -- Valley National Buys Two Banks in Two Days Amid Lender Failures
Valley has served the northern and central New Jersey and New York metropolitan areas for over 80 years and has a healthy balance sheet, and strong capital and liquidity positions.
Bank failures are usually announced at the end of the day Friday, but this week state regulators were ready to go Thursday evening, with the announcement of the 27th bank failure of 2010, LibertyPointe Bank. More...

Mar-13-2009 -- Borrowers in foreclosure prevention plan losing mortgage aid
The United States Treasury along with the Department of Housing and Urban Development (HUD) announced February's data for the number of loan modifications that occurred through the Obama Administration's Home Affordable Modification Program (HAMP).
A borrower needs to make three consecutive monthly mortgage payments and complete a set of documentation in order to qualify for the permanent modification program. More...

Mar-13-2009 -- Apple's Cook Gets $22 Million Bonus
Apple today filed a Form 8-K submission with the U.S. Securities and Exchange Commission disclosing a bonus of $5 million and 75,000 shares of Apple stock paid to Chief Operating Officer Tim Cook in recognition of his performance during Steve Jobs' leave of absence for a liver transplant during the first half of 2009.
Apple may have revealed additional details about the iPad on Friday, but perhaps a more interesting revelation came in the form of regulatory filing regarding Apple Chief Operating Officer Tim Cook. More...

Mar-13-2009 -- Justice Dept. Tells Farmers It Will Press Agriculture Industry on Antitrust
Flanked by U.S. Agriculture Secretary Tom Vilsack, the attorney general said the Justice Department is "committed to protecting competition vigorously," but enforcement of antitrust statutes alone will not protect farmers.
During the Department of Justice and U.S. Department of Agriculture '''s opening round-table discussion , it quickly became clear that the changing landscape of the nation'''s farm country -- and growing concerns over the consolidation of the food sector -- was a key area that had grabbed regulators and prosecutors''' attentions. More...

Mar-13-2009 -- US court backs ban on some cable TV program deals
In 2007, when the FCC extended the rules for five years, seven of the 20 most popular cable networks were affiliated with the four largest cable operators, Comcast, Cablevision, Time Warner Cable Inc. and Cox Communications Inc., the court said.
A merger between the broadcaster and the cable giant would put Comcast in control of programs like NBC's Nightly News as well as its exclusive coverage of sport events like the Olympics . More...

Mar-13-2009 -- Lions Gate Criticizes Icahn's Offer
Before the open, Lions Gate Entertainment (LGF 5.67) announced that its Board of Directors, in consultation with its financial and legal advisors, has determined, by unanimous vote of the directors present, that the unsolicited partial tender offer from Carl Icahn and certain of his affiliated entities to purchase up to 13,164,420 common shares of Lions gate for $6.00 per share is financially inadequate and coercive and is not in the best interests of Lionsgate and its shareholders and other stakeholders.
The Icahn Group is seeking "a greater opportunity to participate in decisions regarding major acquisitions and other matters that would affect Shareholders", including through the formation of, and representation on, a new "investment in films and television programs" capital allocation committee of the Board. More...

Mar-13-2009 -- Overheard: KKR Rematch
Private equity firms appear poised to swell as a group in public listings, with Kohlberg Kravis Roberts & Co. filing today a prospectus to list $2.2 billion worth of shares , a third of its market cap, on the New York Stock Exchange.
In November, it agreed to buy the TASC government- consulting business from Northrop Grumman Corp. with private- equity firm General Atlantic LLC for $1.65 billion. More...

Mar-13-2009 -- Schwab Warns of Lower Earnings
Discount brokerage Charles Schwab Corp. said Friday it expects earnings for the first quarter to lag as much as 4 cents a share behind fourth-quarter results as the dampening of its trading revenue continues.
Analysts polled by Thomson Reuters I/B/E/S, on average, estimate earnings of 15 cents per share in the first quarter. More...

Mar-13-2009 -- It's China's World We're Just Living in It
Although some details are still unclear, the White House appears ready to boost financing to boost trade efforts as well as ease restrictions on high-tech exports.
The closest that India came to discussing the glaring trade imbalance was in January, when Anand Sharma went to Beijing and pressed the Chinese to get rid of some non-tariff barriers. More...

Mar-13-2009 -- Euro zone agrees bailout for Greece: report
Since Greece shocked the European Union by unveiling a deficit of 12.7 percent of gross domestic product -- more than four times greater than EU limits -- global investors have grown a little less skittish.
Greece is desperately trying to avert a collapse and her efforts have received praise even among skeptics. More...

Mar-13-2009 -- Orange County Sues Toyota
SANTA ANA, California (Reuters) - Southern California prosecutors filed the first U.S. consumer protection lawsuit against Toyota Motor Corp on Friday, claiming it had engaged in "fraud" by hiding evidence of dangerous vehicle defects.
A prosecutor in Orange Country, Calif., filed a law suit against Toyota Friday to force the company to halt sales of "defective" vehicles. More...

Friday (Update 1)

Mar-12-2009 -- US Jan business inventories unchanged
WASHINGTON - Inventories at U.S. businesses were little changed in January as sales climbed, signaling companies may need to increase orders to prevent shelves from emptying.
A limit order does not guarantee your order will be executed -" however, it does guarantee you will not pay a higher price than you expected. More...

Mar-12-2009 -- Nokia Seeks Dismissal of Apple's Antitrust Claims
Each company has since accused the other of infringing patents and filed actions with the U.S. International Trade Commission in Washington to block imports of the rival phones.
Reuters noted that Apple originally accused Nokia of infringing 13 patents the Cupertino, Calif., company owns. More...

Mar-12-2009 -- MKM Partners Raises Aeropostale (ARO) Price Target From $35 to $41
Wall Street, on average, has been expecting first-quarter earnings of 37 cents per share.
For the first quarter of 2010, the company forecasts EPS in the range of $0.39 to $0.40, versus consensus estimates of $0.37. More...

Mar-12-2009 -- Black & Decker, Stanley shareholders to vote on sale today
The New York Stock Exchange suggested that Black & Decker Corp. should have considered a board member's real estate partnership with Chief Executive Nolan D. Archibald when deeming that director independent for the purposes of evaluating a merger with The Stanley Works.
The deal, struck last year, has come under renewed scrutiny in recent weeks, including how it was done and the fabulous post-merger package given to Nolan D. Archibald, who will become the combined company's executive chairman. More...

Mar-12-2009 -- Nokia trims share of larger handset market
The revision was due to more accurate measuring methods, including of counterfeit products, the world's largest mobile phone maker said.
Jobs was referring to Apple's total mobile device revenue, which includes laptops. More...

Mar-12-2009 -- CF Finally Lands Its Prey, Inks $4.7B Deal With Terra
Agrium Inc. (AGU) announced late Thursday that it has decided to terminate its long-standing hostile offer for fellow fertilizer company CF Industries Holdings Inc. (CF), allowing the offer to expire at midnight on March 22.
Terra stockholders will receive $37.15 in cash and 0.0953 of a share of CF Industries common stock for each share of Terra common stock. More...

Mar-12-2009 -- Consumer sentiment dips in March
Consumer Reports Employment Index stands at 48.7 for March, reflective of net job losses in the prior 30-days and on-par with February at 49.0.
In recent months the proportion of Americans starting a new job in the past 30 days has also dropped, declining to 3.5 percent in February from a recent high of 6.2 percent in September. More...

Mar-12-2009 -- KKR Begins US-Listing Process
NEW YORK — KKR, the parent of private equity firm Kohlberg Kravis Roberts, is planning a $2.21 billion U.S. initial public offering, according to a regulatory filing Friday.
KKR disclosed in the filing that, pursuant to the In-Kind Distribution, each KKR Guernsey unitholder will receive one of its common units for each unit of KKR Guernsey held when the U.S. Listing becomes effective. More...

Mar-12-2009 -- Swiss Franc Trades Below 1.46 per Euro for First Time in a Year
March 11 (Bloomberg) -- The euro rose against most of its major counterparts as German government bonds dropped to the lowest level in more than two weeks on optimism Greece's budget- deficit crisis has been contained.
Former Reagan administration Council of Economic Adviser Chairman Martin Feldstein is not bashful about the market's response to Greece's woes. More...

Mar-12-2009 -- Jordan's Rating Cut One Level by S&P on Rising Debt
WASHINGTON (MNI) - Standard & Poor's Thursday gave a vote of confidence in the U.S. dollar, saying it believes the dollar will continue to be the key international currency, a position that it will retain "so long as inflation is moderate and stable, financial markets are sound and relatively unfettered, and U.S. government spending is efficient and sustainable."
I expect more rating upgrades going into 2011." More...

Mar-12-2009 -- AnnTaylor Surprises By Swinging To A 4Q Profit
Sales rose 5.3 percent to $602.2 million from $571.9 million.
Large-format store net sales for the quarter increased 7.9% to $323.8 million compared to the same period last year. More...

Mar-12-2009 -- Connecticut Foreclosures Up 3 Percent in February
About 308,524 foreclosure filings were issued in February, representing a 6 percent increase from February 2009.
The number of homes caught up in some stage of the foreclosure process in February fell 2% from the previous month to 308,524, a real estate firm will report Thursday. More...

Friday

Mar-12-2009 -- Toyota discounts boost sales
SANTA MONICA, Calif.--( BUSINESS WIRE )-- Edmunds.com, the premier online resource for automotive information, has evaluated early March car sales and determined that so far this month, sales industrywide are stronger than they've been in nearly a year.
Since the federal government currently owns 60 percent of GM, that's exactly what the Toyota dealers say is happening. More...

Mar-12-2009 -- Director says NHTSA responded properly on Toyota's problems
Vista, Calif. Rep. Darrell Issa co-chaired a hearing of the House Committee on Oversight and Government Reform addressing the recent recalls, the National Highway Traffic Safety Administration's handling of consumer complaints and oversight of automakers.
WASHINGTON, March 11 (Reuters) - U.S. traffic deaths in 2009 hit their lowest level in since the mid-1950s, according to preliminary data released ahead of a congressional hearing expected to take a critical view of auto regulators response to recent safety problems at Toyota Motor Corp ( TM.N )( 7203.T ). More...

Mar-12-2009 -- FHA challenged on projected risk to taxpayers
Proposals to raise the Federal Housing Administration's (FHA) minimum required down payment across the board to 5% would result in a greater than 40% reduction in the volume of FHA-insured loans, FHA Commissioner David Stevens will tell lawmakers today.
Referencing a survey conducted by AARP in 2006, Stevens told the committee the product has provided seniors with much-needed financial relief and was primarily used to pay for long term health care, enable home repairs, and provide piece of mind that housing expenses could be met. More...

Mar-12-2009 -- Yen Trades Near 2-Week Low; Kan Says Intervention Is an Option
TOKYO (Reuters) - The head of the Bank of Japan on Friday acknowledged the central bank's easy policy stance was helping to curb yen strength as speculation mounted that it would loosen policy next week.
"There are several ways to justify easing policy further next week. More...

Mar-12-2009 -- Airline Group, Citing Emerging Markets, Lowers Loss Forecast
Airlines across the Middle East will lose US$100 million (Dh367.2m) more than forecast just three months ago, according to the latest data from the International Air Transport Association (IATA), the global aviation body.
Much of the strength in the region was the result of growing economic ties to the fast-growing economies of Asia, the association said, as well as a recent wave of cross-border airline mergers that have given carriers greater flexibility and economies of scale. More...

Mar-12-2009 -- Americans Pare Debt
U.S. Household debt dropped 1.25% in the fourth quarter of last year to $13.5 trillion, the Federal Reserve Board reported this afternoon , in its "Flow of Funds" note for Q4.
For all of 2009, federal government debt increased almost 23 percent to $10.2 trillion. More...

Mar-12-2009 -- Amid Strong Demand, California Increases Bond Deal To $2.5B
The average dividend yield on a stock in the Standard & Poor's 500 index was 1.98 percent on March 9; the average interest on a taxable money market fund was 0.02 percent March 2.
Rising taxes are also driving investors to munis, said Jim Rosenkoetter, at Talon Asset Management. More...

Mar-12-2009 -- Soybeans Rise as Dollar Weakens, Making US Supplies Cheaper
Traders were expecting 194 million bushels.
The trade was expecting a slight decrease. More...

Mar-12-2009 -- LibertyPointe: 27th Bank Failure of Year
WASHINGTON, D.C. (BNO NEWS) Federal regulators on Thursday closed the LibertyPointe Bank in New York, marking the 27th bank failure of 2010.
During that same period, deposits at BlueRidge Bank doubled from $36.9 million to $73.6 million, and deposits at Middletown Valley Bank increased from $111 million to $124 million, up 11.4 percent, according to The Gazette. More...

Mar-12-2009 -- Don't politicise yuan, China c.bank tells Obama
The politically sensitive trade deficit with China edged up to 18.3 billion dollars from 18.1 billion in December.
U.S. exports to China shrank by a larger 17.6 percent. More...

Mar-12-2009 -- Summary Box: Regulators appeal on swaps
A leading U.S. financial regulator yesterday called for the prices of derivatives trades to be disclosed in the same way as stock prices, saying only large Wall Street banks benefited from the current lack of transparency.
New legislation would ensure only CDS subject to collateral requirements are allowed to go ahead. More...

Mar-12-2009 -- Smithfield Says Upturn Is Under Way
The results beat analysts' expectations of 19 cents per share on revenue of $3.28 billion, according to a survey by Thomson Reuters.
Pope credited the 2009 closing of six other plants, in Nebraska, Ohio, Kansas, Florida and Virginia, with the company's return to profitability. More...

Thursday (Update 1)

Mar-11-2009 -- Exxon's Tillerson Bets Gas, Not Oil, Is Key to Growth
NEW YORK (Dow Jones)-Exxon Mobil Corp. (XOM) said Thursday it plans spend between $25 billion to $30 billion per year through 2014.
Actual future results, including capital expenditures; resource recoveries; production rates and growth; project plans, schedules, and outcomes; and the outcome of research programs could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; reservoir performance; timely completion of development projects; technical or operating factors; the outcome of commercial negotiations; and other factors discussed in Item 1A of ExxonMobil's most recent Form 10-K and posted in the Investors section of our website ( www.exxonmobil.com ]] www.exxonmobil.com ). More...

Mar-11-2009 -- US mortgage rates drop 2nd straight wk-Freddie Mac
The interest charged on two-year fixed rate mortgages fell to a six-and-a-half-year low during February in a further sign that competition was slowly returning to the market, figures have shown.
The Federal Reserve is almost done buying mortgage-backed securities, which has helped lower mortgage rates to near historical lows for much of the past year, but rates appear to be holding steady: they ended the week at a still low 5.01% last week, up slightly from 4.95% the previous week, according to the Mortgage Bankers Association. More...

Mar-11-2009 -- CFTC's Gensler Criticizes Wall Street on OTC Regulations
BOCA RATON, Florida (Reuters) - The head of the top U.S. futures regulator chided Wall Street on Thursday for resisting calls to make over-the-counter derivatives markets more transparent, arguing major reforms are required after the recent financial crisis.
A comprehensive regulatory framework governing over-the-counter derivatives should apply to all dealers and all derivatives, no matter where traded or marketed. More...

Mar-11-2009 -- HSBC: employee stole data on 24000 Swiss accounts
GENEVA — Some 24,000 customers may have been affected by the theft of data from a Swiss branch of banking giant HSBC three years ago, Alexandre Zeller, chief executive of HSBC Private Bank, said on Thursday.
Swiss regulator FINA is investigating an incident of data theft at HSBC holdings, the largest bank in Europe. More...

Mar-11-2009 -- FOREX-Euro steadies vs dollar, yen; SNB awaited
SINGAPORE, March 11 (MNI) - The U.S. dollar was mixed in the Asian morning Thursday, losing ground against the yen but firmer on the euro, with trade driven largely by a slew of data releases in the region, most notably out of China and Australia.
The Pound has failed to break back above the key resistance levels at 1.10 versus the Euro and 1.50 against the U.S Dollar, indicating that a move lower is increasingly likely. More...

Mar-11-2009 -- Jobless claims fall, trade gap narrows
The U-6 category, combining the unemployed with the marginally attached workers and part-time workers who want to work full time,'' had dropped from 17.4% in October to 16.5% in January.''
WASHINGTON ( TheStreet ) -- The volume of workers applying for state unemployment insurance for the first time continued to wane last week, according to a government report, suggesting layoffs may have leveled off in recent weeks. More...

Mar-11-2009 -- Imax Posts Profit, Helped by 'Avatar'
For the fourth quarter, the company reported a net income of $4.04 million or $0.06 per share, compared to a loss of $9.04 million or $0.21 per share last year.
Net income was 33.2 million or $1.11 per diluted share compared to $1 per diluted share in the prior year. More...

Mar-11-2009 -- Air China plans $950 million share sale
Under the agreement, China Mobile will pay 39.8 billion yuan ($5.8 billion) in cash for 20 percent of Shanghai Pudong Development Bank, the cell phone company said in a statement to the Hong Kong stock exchange.
The company will pay out 39.8 billion yuan ($5.8 billion) to gain 20 percent of Shanghai Pudong Development Bank. More...

Mar-11-2009 -- VW, BMW Forecast Sales Growth as German Carmakers Lead Recovery
The finance chief of Europe's biggest carmaker said VW plans to raise around 4 billion euros ($5.4 billion) and would ask shareholders on April 22 to approve a bond issue convertible into 40 million preferred shares at a much later date.
Europe's biggest carmaker says it would ask shareholders at the annual general meeting on April 22 to approve a possible bond issue with an option or right to convert the bond into 40 million preferred shares. More...

Mar-11-2009 -- BMW Reports Smaller-Than-Expected Profit Decline
FRANKFURT, March 11 (Reuters) - BMW's ( BMWG.DE ) cost cutting measures have begun to gain traction as the German premium automaker posted a better-than-expected 2009 profit despite lower vehicle production.
Global auto markets are likely to grow 2 percent to 53.3 million vehicles in 2010, as a rebound in North America offsets a drop in western Europe, according to researcher IHS Global Insight. More...

Mar-11-2009 -- Trade deficit shrinks as auto and oil imports drop
All the worries over the debt problems of Greece, which uses the euro, have triggered a rise in the dollar's value since December.
U.S. imports of goods ans services were $180.0 bln in January, whereby Americans imported $147.8 bln worth of goods and $32.2 bln worh of services. More...

Mar-11-2009 -- EU hits back at Geithner on regulation
Michel Barnier, European Commission financial services overlord, "has indeed received a letter from Tim Geithner regarding plans to regulate speculative funds and alternative funds," commission spokesman Amadeu Altafaj told reporters.
The spokesman said that Barnier had received Geithner's letter but stressed that the discussions were still taking place at the EU level. More...

Mar-11-2009 -- SNB May Keep Main Rate Near Zero as Economy Recovers
The interest rate decision from the Swiss National Bank headlines the economic calendar in European hours.
The outcome marked the smallest cumulative increase in employment in six months and the first increase in the jobless rate since September of last year. More...

Mar-11-2009 -- BofA Ends Some Overdraft Fees
Bank of America will likely implement the new policy about July 1, which is when new federal rules take effect prohibiting financial institutions from charging overdraft fees for ATM and one-time debit card transactions, unless a customer consents.
Bank of America'''s decision to deny all debit card purchases that exceed account balances bypasses the whole opt-in procedure. More...

Mar-11-2009 -- CA to buy Nimsoft
"CA estimates that emerging enterprises, which it categorizes as organizations with annual revenues from $300 million to $2 billion, will account for approximately a quarter of the software spending in CA's market space by 2013.
Ina blog post on the CA-Nimsoft acquisition , Jay Fry, CA's vice president of business unit strategy, outlined why Nimsoft has been successful insystems management. More...

Mar-11-2009 -- City competing to be Google test community
In early February, Google announced plans to build and test ultra high-speed broadband networks in a number of communities across the United States.
Among the cities already angling for Google's fiber network are New York, Chicago, St. Louis, Des Moines, Omaha, Cincinnati, Grand Rapids, Mich., Rochester, N.Y., Baton Rouge, La., and Kirksville, Mo. Columbia and Lawrence also have launched campaigns. More...

Mar-11-2009 -- February set deficit record; Google says China feud may be resolved soon
The chief executive of Google has said the internet search giant expects to see an outcome soon from talks with China over the future of its operations in the country.
Schmidt also addressed issues regarding complaints that Google was taking away advertising revenue from print media. More...

Mar-11-2009 -- CORRECTED-Bank of China aims to issue new HK shares soon
SHANGHAI: China's largest mobile phone service provider became a strategic investor in''the Shanghai Pudong Development Bank (SPDB) after a multi-billion dollar stock purchasing deal on Wednesday.
Pudong Bank "is just the right size," Wang Jianzhou, chairman of China Mobile, told reporters in a videoconference. More...

Mar-11-2009 -- Ex-official David Loglisci's guilty plea advances NY state pension probe
Here's the guilty plea obtained by AG Andrew Cuomo from former OSC chief investment officer David Loglisci in which he admits to helping to create "a culture of corruption at the highest levels" of the office.
Today's plea is part of a more than two-year ongoing investigation into corruption involving the Office of the State Comptroller and the Common Retirement Fund. More...

Mar-11-2009 -- Madoff, Stanford Victims Unite
As if the Madoff victims haven't been taken quite badly enough, along comes yet another apparent con.
The U.S. Securities and Exchange Commission issued a statement about the group's posing as an international branch of the SIPC. "Never underestimate the creativity and duplicity of con artists,'' the SEC said. More...

Mar-11-2009 -- Naked Swaps Crackdown in Europe Rings Hollow Without Washington
International momentum is building for stricter oversight of derivatives trading, as a top U.S. regulator recommended new limits on credit-default swaps and European leaders pushed for a ban on speculative bets against government debt following recent financial turmoil in Greece.
There were swaps on a net $109 billion of 10 European nations, including Portugal, Spain, Italy and Ireland, less than 1 percent of the countries' combined debt. More...

Mar-11-2009 -- Toyota hands over 2006 dissident memo to US panel
Congress is considering new auto industry reforms following Toyota's recalls to fix problems with accelerator pedals and brakes.
Led by Tadao Wakatsuki, a 45-year veteran at Toyota's Motomachi factory, the group sought a seven-point action plan from management including an explanation of the criminal probe, a review of the length of vehicle development period and a review of cost reduction methodologies. More...

Mar-11-2009 -- Japan's economic growth rate revised down
Japan's economic growth in October-December from the previous quarter was revised down to 0.9 percent from an initial estimate of 1.1 percent, official data showed Thursday.
The last couple of years of Yen strength have severely impacted Japan's export economy. More...

Thursday

Mar-11-2009 -- BofA Ends Some Overdraft Fees
Bank of America will likely implement the new policy about July 1, which is when new federal rules take effect prohibiting financial institutions from charging overdraft fees for ATM and one-time debit card transactions, unless a customer consents.
At Bank of America, no system change is required for merchants to ask the bank for purchase authorizations, a spokeswoman said. More...

Mar-11-2009 -- Ex-official David Loglisci's guilty plea advances NY state pension probe
Here's the guilty plea obtained by AG Andrew Cuomo from former OSC chief investment officer David Loglisci in which he admits to helping to create "a culture of corruption at the highest levels" of the office.
Loglisci pleaded guilty to a single count in the indictment involving the Carlyle/Riverstone Global Energy and Power Fund II. The pension fund made a $150 million commitment to the fund in November 2003, Cuomo said in a statement in June when Riverstone Holdings LLC settled his investigation. More...

Mar-11-2009 -- Japanese Bonds May Rise a Third Day; Auction Demand to Increase
The Japanese market rose sharply as a cheaper yen, strong buying by foreign investors and expectations for more monetary policy easing steps by Japan's central bank helped push the Nikkei 225 stock average to a six-week closing high.
March 8 (Bloomberg) -- The yen's decline to a two-week low against the dollar is "probably not yet sustainable" and the currency may rally as it's too early to conclude U.S. interest rates will rise, according to Bank of America-Merrill Lynch. More...

Mar-11-2009 -- BA, American, Iberia offer EU concessions
BRUSSELS — EU regulators say British Airways, American Airlines and Iberia are offering to give away take-off and landing slots at London and New York airports to soothe European Union antitrust concerns.
The idea behind giving up landing slots is to increase competition on routes that would otherwise be solely handled by the alliance partners. More...

Mar-11-2009 -- Bank of China aims to issue new HK shares soon
SHANGHAI: China's largest mobile phone service provider became a strategic investor in''the Shanghai Pudong Development Bank (SPDB) after a multi-billion dollar stock purchasing deal on Wednesday.
Pudong Bank "is just the right size," Wang Jianzhou, chairman of China Mobile, told reporters in a videoconference. More...

Mar-11-2009 -- Offshore Brazil Beckons for BP
BP has emerged as a front-runner to buy $5 billion (£3.3 billion) of oil assets from Devon Energy, the independent U.S. oil and gas producer.
In December, Devon said that it would sell three development projects in the region to Maersk Oil, the Danish company, for $1.3 billion. More...

Mar-11-2009 -- CORRECTED-Black & Decker CEO may have very big payday - WSJ
As part of that deal, Archibald will become executive chairman of the newly combined company, with a pay package to include an annual base salary of $1.5 million and up to $1.9 million in annual bonuses.
Two weeks ago Chessicap's Doug Schmidt reported Black & Decker CEO Nolan Archibald's business relationship with M. Anthony Burns, a Black & Decker board member. More...

Mar-11-2009 -- A Last Chance for the Trade Center to Rise Again
Thousands of unionized construction workers, plus a few elected officials, are expected to hold a rally Tuesday to pressure the two sides warring over rebuilding part of Ground Zero to reach an agreement.
Several thousand workers would be needed to work at the sites. More...

Mar-11-2009 -- Sales and Profits Rise as American Eagle Outfitters Limits Markdowns
J. Crew said it expects to earn $2.20 to $2.30 per share in the 2010 fiscal year, more than analysts had forecast.
The company generated net income during the fourth quarter of $59.3 million, compared to $32.7 million last year. More...

Mar-11-2009 -- CA to Buy Nimsoft for $350 Million
"CA estimates that emerging enterprises, which it categorizes as organizations with annual revenues from $300 million to $2 billion, will account for approximately a quarter of the software spending in CA's market space by 2013.
Ina blog post on the CA-Nimsoft acquisition , Jay Fry, CA's vice president of business unit strategy, outlined why Nimsoft has been successful insystems management. More...

Mar-11-2009 -- Search Data Reflect Yahoo Concern, Microsoft Gains >YHOO MSFT
Microsoft has also enhanced Bing in recent months with online travel tools, visual search, and a tie-in with the Wolfram Alpha math engine.
Topsy not only filters by source web, photos and tweets but also by time and relevance. More...

Mar-11-2009 -- Politics, shaky economy create no rush to restructure Fannie and Freddie
WASHINGTON, DC, Mar 09, 2010 (MARKETWIRE via COMTEX) -- Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it has filed a new motion in its Freedom of Information Act (FOIA) lawsuit against the Federal Housing Finance Agency (FHFA) that would force the Obama administration to release documents related to political contributions made by the mortgage giants Fannie Mae and Freddie Mac.
"The markets have that emotional resilience of 'Hey, we're one year out of the abyss.' A lot of things have gone up just on the rising tide syndrome," said Ken Grant, a Partner at Waterstone Private Wealth Management in Owasso, Oklahoma. More...

Wednesday (Update 1)

Mar-10-2009 -- Airline stocks soar, stretching to new highs
The report is a sign that the economy is soon likely to generate consistent job gains.
Earlier, American Airlines parent AMR Corp. (AMR) said it expects unit revenue to be up 6.5% to 7.5% in the first quarter. More...

Mar-10-2009 -- Fortune Brands sell Cobra golf line to Puma
NEW YORK, March 10 (Reuters) - Diversified consumer products company Fortune Brands Inc ( FO.N ) said it was selling its Cobra brand of golf equipment to German sportswear maker Puma AG ( PUMG.DE ) to focus on its existing golf brands but said the deal would lower its 2010 earnings slightly.
Puma caused a buzz in the industry when it signed heralded PGA Tour rookie Rickie Fowler to an apparel deal. More...

Mar-10-2009 -- Terra says CF's buyout bid is superior to Yara's
Terra Industries confirms it has determined that proposal submitted by CF Industries constitutes a Superior Proposal Co confirms that its Board of Directors, in consultation with its independent financial and legal advisors, has unanimously determined that the proposal submitted by CF Industries Holdings (CF) on March 10, 2010 to acquire all of the outstanding common stock of Terra for $37.15 in cash and 0.0953 of a share of CF Industries common stock for each Terra share constitutes a Superior Proposal under the terms of the Agreement and Plan of Merger, dated as of February 12, 2010, by and among Terra, Yara International and Yukon Merger Sub.
The latest CF offer is for $37.15 in cash and nearly one-tenth of a CF share for each Terra share, while Yara's offer of $41.10 per share. More...

Mar-10-2009 -- OPEC raises 2010 oil demand forecast
"Current OPEC production is likely to exceed market needs," OPEC said in the report commenting on the second quarter, a period in which demand typically declines for seasonal reasons.
Crude prices have been hovering above $80 a barrel in recent weeks, despite the strengthening of the dollar against the euro. More...

Mar-10-2009 -- BA, American, Iberia offer EU antitrust concessions
BRUSSELS — EU regulators say British Airways, American Airlines and Iberia are offering to give away take-off and landing slots at London and New York airports to soothe European Union antitrust concerns.
The U.S. Department of Transportation gave preliminary approval to the arrangement last month on condition that British Airways and American cede four pairs of takeoff and landing slots at Heathrow. More...

Mar-10-2009 -- China property prices rise 10.7% in February
China's central bank governor, Zhou Xiaochuan, said Saturday that Beijing will be "very cautious" about easing exchange-rate controls because the global economic outlook is still uncertain.
March 10 (Bloomberg) -- China's property prices rose at the fastest pace in almost two years in February, adding urgency to the government's efforts to rein in speculation and increase the amount of affordable housing. More...

Mar-10-2009 -- Wholesale Inventories in US Fell 0.2% in January
Economists polled by Reuters had expected stocks of unsold goods at U.S. wholesalers to rise 0.2 percent in January.
The rise in sales pushed the inventory-to-sales ratio, a measure of how long it would take to sell stocks at the current sales pace, to a record low of 1.10 months' worth from December's 1.12 months, the Commerce Department said on Wednesday. More...

Mar-10-2009 -- Bon-Ton Stores returns to fiscal 4th-qtr profit
The Company recorded charges of $25.9 million to reduce the reported value of long-lived and intangible assets in the fourth quarter of fiscal 2008.
The gross margin rate for the fourth quarter of fiscal 2009 increased 350 basis points to 38.2% of net sales compared with 34.7% in the fourth quarter of fiscal 2008, primarily reflecting a decreased net markdown rate due to our inventory management. More...

Mar-10-2009 -- Munich Re CEO - Buffett stake backs our strategy
Last month's huge earthquake in Chile might cost the insurance industry up to five billion euros in damage claims.
In the fourth quarter, Swiss Re swung to a fourth quarter net profit of 403 million Swiss francs ($375 million) from a year-earlier net loss of CHF1.75 billion. More...

Mar-10-2009 -- Toyota's 'Bargains' May Boost Sales 30%, Edmunds Says
NEW YORK -- New ads for troubled automaker Toyota Motor Corp. are skipping the apologies and easing back into sales pitches too soon, some say.
In February, sales fell 9% as Toyota stopped selling certain brands because of safety issues like sticking gas pedals and braking problems. More...

Mar-10-2009 -- Baltic Trading IPO Treads Water
The first U.S. IPO to price within its expected range in two months struggled to stay above water in early trading Wednesday, sending mixed signals to a new offerings market desperate for some good news.
According to recent regulatory filings, the company estimated to price the offering in $14 to $16 per share range. More...

Mar-10-2009 -- Clean coal? Obama funds research to capture carbon
The U.S. Secretary of Energy wasted no time outlining his arguments for climate change legislation at a Houston energy conference, even as the governor of the state in which he was speaking is pushing back against the Environmental Protection Agency'''s recent moves to regulate greenhouse gas emissions.
The carbon capture unit NRG plans to build would take in flue gas from about 60 watts of power plant capacity, about one-tenth of the size of one coal unit at the Parish plant. More...

Wednesday

Mar-10-2009 -- Spring Oil Rally Seems Less Likely This Year
Refinery operating rates climbed to almost 82% at the end of February, the highest level since October, bolstering demand, while total average fuel demand over the past four weeks was up 3% from a year earlier, according to the U.S. Energy Information Administration (EIA) report on March 3.
After failing to sustain pushes above $80/bbl in four previous sessions, April crude closed at $80.87/bbl Mar. 3, up $1.19 for the day in the highest closing for a front-month contract in 7 weeks in the New York market as the euro strengthened against the U.S. dollar. More...

Mar-10-2009 -- Japan finmin wary of policy accord with BOJ
Finance Minister Naoto Kan has been putting heat on the central bank to do more to eradicate price declines and spur growth ahead of a July election.
Hatoyama has been making the same remark about the central bank's policy in the recent past, and it can be interpreted as mild pressure on the central bank to take further easing steps. More...

Mar-10-2009 -- US weighs aiding airlines with air traffic upgrades
The government's revised aviation forecast, released Tuesday at a conference in Washington, D.C., backs away from a prediction made five years ago before the recession that more than 1 billion passengers a year will travel by air in 2015.
Demonstrating the severe impact of the economic downturn, then-FAA Administrator Marion Blakey said just three years ago at the 2007 Forecast Conference that U.S. "commercial aviation is on track to reach a billion passengers by 2015" ( ATWOnline, March 16, 2007). More...

Mar-10-2009 -- Continental Boss Raises the Flight Cancellation Bogeyman
Starting in April, airlines will be required to let travelers off planes stuck on airport tarmacs after three hours or face fines of $27,500 per passenger.
Because airlines have cut flights, leaving the remaining ones more crowded, passengers will have fewer chances to rebook on another flight. More...

Mar-10-2009 -- InterMune Wins Panel's Backing for Novel Lung Therapy
Exceed investors' expectations, even if the results are far from exhilarating, and the stock is likely to go up.
The hepatology portfolio includes the HCV protease inhibitor compound RG7227 (ITMN-191) that entered Phase 2b in August 2009 and a second-generation HCV protease inhibitor research program. More...

Mar-10-2009 -- Wealthy US Households Grow More Numerous, Conservative -Study
The number of U.S. households with a net worth of $1 million or more, not including primary residence (NIPR), grew 16% to 7.8 million in 2009, up from 6.7 million the year before, according to "Affluent Market Insights 2010," a new report released today by Spectrem Group ( www.spectrem.com ).
The number of quintuple-millionaire households -- with assets worth more that five million dollars -- was also up last year, climbing by 17 percent to 980,000 from 840,000 in 2008. More...

Mar-10-2009 -- LifeLock to pay $12 mln to settle charges over ads
CHICAGO - Identity Theft Protection Company LifeLock agrees to pay $12 Million to settle charges by the Federal Trade Commission and 35 states that its identity theft and data security claims were false.
In an interview, Davis said "we don't agree with the FTC's interpretation" of the ads, saying LifeLock and the FTC "had differing views about how the company in the past should have sounded the alarm about the rapid increase in identity theft." More...

Mar-10-2009 -- J Crew moves to 4th-qtr profit on higher revenue
For the entire year, J. Crew's profit had more than doubled to $123.4 million, or $1.91 per share, from $54.1 million, or 85 cents per share, in the year before.
More...

Mar-10-2009 -- Swaps Come Under Fire
Jos'' Manuel Barroso has just said it: The European Commission "will examine closely the relevance of banning purely speculative naked sales on credit default swaps of sovereign debt."
Credit default swaps have been condemned by many U.S. lawmakers because of the $62.5 billion taxpayers handed global banks to unwind CDS contracts written by bailed-out insurer American International Group ( AIG.N ). More...

Mar-10-2009 -- Facet, InterMune shares surge in late-trading session
Abbott and Facet said on Tuesday that the cash deal will cost about $450 million, including a purchase price of about $722 million less Facet's cash and securities of around $272 million.
Abbott Laboratories (ABT) will bulk up its product pipeline with a $722 million deal that will finally send Facet Biotech Corp. (FACT) walking down the aisle after it rebuffed development partner Biogen Idec Inc. 's (BIIB) overtures last year. More...

Mar-10-2009 -- Senate financial bill appears likely to keep Fed as regulator of big banks
Banking Chairman Chris Dodd '''s original proposal unveiled last year had numerous strengths, most significantly the removal of bank supervisory authority from the Federal Reserve.
The new rules, proposed by former Fed Chairman Paul Volcker, would also allow the government to regulate how derivatives are traded, give it the authority to dismantle failing financial firms, and enhance oversight of banks. More...

Mar-10-2009 -- Deconstructing the refining sector
March 9 (Bloomberg) -- Chevron Corp., the second-largest U.S. energy company, plans to sell its only remaining European refinery, cut 2,000 jobs and shed assets in the Caribbean and Central America to stanch losses from its fuel-making business.
NEW YORK — U.S. energy giant Chevron said Tuesday it would downsize its global refining and marketing activities to compete in "difficult" market conditions, cutting 2,000 jobs this year. More...

Tuesday (Update 1)

Mar-09-2009 -- US Stocks Fluctuate on Anniversary of 2009 Bear-Market Low
The Dow Jones Industrial Average posted the weakest performance among major U.S. indices as 18 of the 30 Dow stocks closed lower on the day.'' 3M Co posted the biggest loss on the index, dropping 1.3 percent, while American Express and Bank of America fell over 1 percent each to lead financial shares lower.''
NEW YORK (CNNMoney.com) -- Stocks ended little changed Monday, although the Nasdaq managed to close at an 18-month high, as investors weighed corporate deals, a stronger dollar and weaker commodity prices ahead of key economic news due later this week. More...

Mar-09-2009 -- Chevron Cuts Jobs, Puts Refinery On The Block
Operations in Hawaii and Africa, outside South Africa, are also under review.
The company's refining, marketing, and transportation business, which as a whole constitutes the downstream segment, reported a fourth-quarter net loss of $613 million, compared with a profit of $2.08 billion last year. More...

Mar-09-2009 -- Dick's Sporting Goods posts 4Q profit, sales rise
Analysts polled by Thomson Financial Network had been looking, on average, for the company to earn 55 cents per share in the most recent quarter.
Dick's Sporting Goods Inc. this morning announced sales grew 10.7 percent in the holiday quarter, helping the Findlay retailer report a better performance than a year earlier in the depths of the 2008 financial downturn. More...

Mar-09-2009 -- Burger King Sales Slide
To learn more about Burger King Corp., please visit the company's Web site at www.bk.com .
On a worldwide basis, the sales measurement fell 5.4 percent. More...

Mar-09-2009 -- Stocks, Firmer Dollar Pressure Oil
"Forecasts of yet another build in U.S. crude stocks show the disconnect between the fundamentals of oil supply and demand, which are quite bearish, and hopes of economic recovery, which are bullish."
A half a dollar correction in the oil prices in Asia today kept the rise under check and the benchmark MCX March contract flipped back from a high of Rs 3714 per barrel. More...

Mar-09-2009 -- Fed's Evans Says Low Rates Needed for 'Some Time'
Evans further said that despite debate over how much slack there is in the economy, high unemployment levels make it undeniable that output is well below the economy's potential.
"With the unemployment rate at 9.7 percent and inflation significantly under my benchmark for price stability, there is no conflict between our policy goals," Evans said in the text of a speech in Arlington, Virginia. More...

Mar-09-2009 -- Fed tells Florida bank to raise capital or find buyer
"A decision to shrink the balance sheet more aggressively could be disruptive to market functioning," Brian Sack, executive vice president at the Federal Reserve Bank of New York, told the National Association for Business Economics.
We provide a weekly update of the Fed's balance sheet and while we briefly note the liability side, our, and everyone else's, attention, is traditionally focused on the asset side. More...

Mar-09-2009 -- Murdoch says betting on Arab world, slams censorship
The production company, which is based in New Zealand, will open the office in Abu Dhabi and will team with twofour54 on the production of a number of high-end high definition and 3D documentaries.
Online advertising, bolstered by the rapid expansion of broadband networks, is expected to increase by about 40 per cent annually for the next five years, Booz said. More...

Mar-09-2009 -- Eurostar Failures Bolster Deutsche Bahn's Tunnel Bid
Shields fitted to the trains to stop snow getting into the electrics failed.
Eurostar'''s failure to quickly evacuate 2,000 people from the tunnel on Dec. 18 should prompt Anglo-French regulators to drop a requirement for trains be at least 375 meters (1,230 feet) long and divisible into separately functioning halves, Eurotunnel Chief Executive Officer Jacques Gounon said today. More...

Mar-09-2009 -- United Airlines sees clear signs of recovery
Total consolidated revenue passenger miles (RPMs) increased in February by 2.1% on a decrease of 5.3% in available seat miles (ASMs) compared with the same period in 2009.
Capacity measured in available seat miles decreased 3.6% to 21.1 billion compared to 21.89 billion for the same period of 2009. More...

Mar-09-2009 -- Wealthy US Households Grow More Numerous, Conservative -Study
The number of U.S. households with a net worth of $1 million or more, not including primary residence (NIPR), grew 16% to 7.8 million in 2009, up from 6.7 million the year before, according to "Affluent Market Insights 2010," a new report released today by Spectrem Group ( www.spectrem.com ).
Spectrem surveyed more than 3,000 affluent households throughout 2009. More...

Mar-09-2009 -- Reed's Inc. acquiring Jones Soda
The shareholders of Jones Soda would receive an aggregate of 4.5 million shares of Reed's common stock (or approx 0.17 of a share of Reed's common stock per share of Jones Soda common stock based on current Jones Soda shares outstanding) and cash of $0.10 per share of Jones Soda common stock (or an aggregate of approx $2.56 million based on current shares outstanding).
Reed's will issue 4.5m common shares and pay out a collective US$2.6 m in cash, equating to around $0.10 per share, to existing Jones shareholders. More...

Tuesday

Mar-09-2009 -- Money Funds Welcome Repo Shift
"A decision to shrink the balance sheet more aggressively could be disruptive to market functioning," Brian Sack, executive vice president at the Federal Reserve Bank of New York, told the National Association for Business Economics.
The overnight federal funds rate rose to 0.17 percent after settling at 0.16 percent on Friday, according to Reuters data, which was the highest since Sept. 18. More...

Mar-09-2009 -- Shell Joins PetroChina in an Offer in Australia
ROYAL Dutch Shell and PetroChina's $3.3 billion bid for Arrow Energy is unlikely to be blocked on foreign investment grounds or trumped by a superior offer, analysts have said, as the Australian coal seam gas hopeful considers the indicative offer.
Oil Search, Papua New Guinea's largest oil and gas producer, closed up 6.3 percent at A$5.57 in Sydney, the most since December 2008. More...

Mar-09-2009 -- TI raises outlooks but still sees supply issues
In January, Texas Instruments predicted sales of as little as $2.95 billion and profit of as low as 44 cents a share.
TI said that demand improved from the fourth quarter in all segments except wireless, which tends to slow in the first quarter after the holiday shopping season. More...

Mar-09-2009 -- Tivo Rises After Fourth-Quarter Results Top Estimates
For the current quarter, TiVo expects a net loss of between $19 million and $21 million, with the company citing increased litigation expense, higher research and development costs due to increased product development and distribution efforts, and higher marketing spending relating to the launch of TiVo Premiere.
TiVo offers the TiVo service and TiVo DVRs directly to consumers online at www.tivo.com and through third-party retailers. More...

Mar-09-2009 -- Oil falls from 8-week high on US stock-build forecast
Oil prices have advanced on the expectations of further recovery in the global economy, which is expected to increase the demand for fuel.
NEW YORK (AP) ''' Oil prices settled near $82 a barrel Monday, extending gains from last week amid signs the global economy may be improving. More...

Mar-09-2009 -- Japan's 30-Year Yields Climb to a One-Week High Before Auction
TOKYO, March 8 (Reuters) - Japan's Nikkei stock average rose 1.5 percent on Monday after U.S. jobs data came in better than expected, with exporters benefiting from a weaker yen and resource shares from gains in commodities prices.
March 8 (Bloomberg) -- Japanese stock futures and Australian shares rose after fewer jobs were lost in the U.S. than economists had estimated, boosting confidence the global economy is recovering, and as oil and metals prices climbed. More...

Mar-09-2009 -- Amazon cuts off Colo. affiliates because of tax
DENVER — Amazon.com Inc. cut ties Monday with Colorado online businesses that help it sell products because of a new state law aimed at getting out-of-state, online retailers to collect sales tax.
Unconstitutionally expansive nexus standards like the Amazon tax undermine legal certainty, burden interstate commerce, and harm economic growth. More...

Mar-09-2009 -- BP faces $3 mln safety fines for Ohio refinery
HOUSTON, March 8 (Reuters) - BP Plc ( BP.L ) ( BP.N ) was accused of more problems in its U.S. operations on Monday when the U.S. Occupational Safety and Health Administration announced dozens of safety violations found at the BP-Husky refinery in Toledo, Ohio, that could cost the energy giant more than $3 million in fines.
The violations were classified as "willful." More...

Mar-09-2009 -- Europe Fund Gains Favor
To save them for any future financial crisis like the one experienced by Greece, the European Union is sketching a plan for rescue fund, as a spokesman revealed on Monday.
There is a clear sense of determination to improve economic governance of the euro area". More...

Mar-09-2009 -- PRECIOUS-Gold slips after 1 pct drop; stuck in range
U.S. gold futures for April delivery GCJ0 fell $2 to $1,122 an ounce, having ended 1 percent lower on technical selling.
The most active gold contract for April delivery dropped 11.20 U.S. dollars, or 1 percent, to finish at 1,124 dollars per ounce. More...

Mar-09-2009 -- Co. owner indicted in deadly NYC crane collapse
The owner and a top official of a crane company were charged with manslaughter and criminally negligent homicide Monday for their role in a 2008 crane collapse on East 91st Street in Manhattan that killed two people.
Vance said the company wanted the crane repaired quickly to keep it generating income from construction contractors who rented the equipment. More...

Mar-09-2009 -- Options Traders Stampede Into Cisco
Shares of Cisco Systems ( CSCO ) rose 4% Monday ahead of a Tuesday morning announcement the networking gear maker says "will forever change the Internet and its impact on consumers, businesses and governments."
Options traders rallied around Cisco Systems Inc. after the technology company said it planned to make a major announcement that will "forever change the Internet and its impact on consumers, businesses and governments." More...

Monday (Update 1)

Mar-08-2009 -- FDIC's Bair says low interest rates "appropriate"
Propelled by a still unfolding commercial real estate loan crisis, bank failures this year are on pace to surpass last year'''s tally of 140, with 26 institutions seized so far this year by the Federal Deposit Insurance Corp. Regulators shut or turned over to other institutions banks in Maryland, Illinois, Florida and Utah this week, pushing the number of U.S. failures to 26 for 2010.
The Federal Reserve has vowed to keep borrowing costs ultra low for an "extended period." More...

Mar-08-2009 -- PRECIOUS METALS: NY Gold Down Amid Exit From Euro-Gold Trades
U.S. gold futures for April delivery on the COMEX division of the New York Mercantile Exchange fell $11.50 to $1,123.70 an ounce.
Palladium turned out to be the top performing precious metal last year and is still holding up a lot better than the rest. More...

Mar-08-2009 -- Roche suspends arthritis drug study after deaths
In a significant setback, Biogen Idec and Roche have suspended the troubled development program of ocrelizumab for rheumatoid arthritis, and analysts are already questioning if work related to multiple sclerosis may soon follow.
A review by the Ocrelizumab Rheumatoid Arthritis and Lupus Data and Safety Monitoring Board (DSMB) found the safety risk outweighed benefits observed in the test populations. More...

Mar-08-2009 -- Portugal Fin Min: Prudent Growth View In Deficit Plan
March 8 (Bloomberg) -- Portugal's government plans to sell 6 billion euros ($8.2 billion) of assets to reduce debt in a bid to convince investors it can trim a budget deficit that's more than three times the European Union limit.
According to the draft guidelines of the stability and growth pact update for 2010-2013, the budget gap will fall to 6.6 percent next year and then to 4.7 percent in 2012 before it meets the EU target of below 3 percent the following year. More...

Mar-08-2009 -- TREASURIES-US bond prices fall ahead of auctions
March 8 (Bloomberg) -- Treasury 10-year notes fell, pushing the yield to the highest level in almost two weeks, on concern the government may struggle to find buyers for $74 billion of securities this week at current rates.
MUMBAI: India's benchmark 10-year government bond yield hit its highest in 17 months on Monday as the worst sell-off in U.S. Treasuries in nearly a month on Friday added to the shaky sentiment. More...

Mar-08-2009 -- Microchip Tech Boosts Offer For Silicon Storage To $3.05/Shr
INVESTORS AND SHAREHOLDERS ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT SST AND THE PROPOSED TRANSACTION WITH MICROCHIP. The definitive proxy statement was mailed to Silicon Storage Technology, Inc. shareholders on March 3, 2010.
SUNNYVALE, Calif., March 8 /PRNewswire-FirstCall/ -- SST (Silicon Storage Technology, Inc.) (Nasdaq: SSTI ), a leading memory and non-memory products provider for high-volume applications in the digital consumer, networking, wireless communications and Internet computing markets, today announced that it has entered into an amendment to its previously announced merger agreement with Microchip Technology Incorporated (Nasdaq: MCHP ) ("Microchip"), a leading provider of microcontroller and analog semiconductors. More...

Mar-08-2009 -- Greek PM urges wider efforts to rein in speculators
Unions plan more demonstrations and have called for a general strike on Thursday.
Greece's deficit hit 12.7 per cent of GDP in 2009. More...

Mar-08-2009 -- New York Mayor Bloomberg presses for tax on soda
"But the soda tax is a fix that just makes sense.
The analysis from researchers at the University of California at San Francisco has renewed debate over a proposed tax on soft drinks to help reduce obesity. More...

Mar-08-2009 -- Stocks struggle in early trading
Quiet open for stocks as traders look for reasons to continue pushing the major market indices higher.
Same-store sales rose 0.6 percent in the U.S., compared with a gain of 5.4 percent in Europe and 10.5 percent in the Asian region. More...

Mar-08-2009 -- As economy improves, gas prices rise
The average price for a gallon of regular gas continued to rise over the past week, rising an average of 6.6 cents per gallon to $2.72 per gallon.
The other sign of a recovery was a report from the U.S. Energy Department showing "U.S. fuel use, averaged over the past four weeks, was 3 percent higher than a year earlier." More...

Mar-08-2009 -- European shares struggle for direction
The seven European governments agreed to give EADS, the European Aeronautic Defence and Space Company, an additional 3.5 billion euros (4.76 billion dollars) to save the troubled Airbus A400M project.
Morin was speaking at a press conference where he briefed the media about the agreement in principle between EADS and the seven NATO countries--Germany, France, the U.K., Spain, Belgium, Luxembourg and Turkey--on revised terms for the initial 2003 contract under which the seven partner nations had contracted to purchase 180 planes for euro 20 billion. More...

Mar-08-2009 -- Yingli Q4 profit lags, sees shipments doubling in 2010
BAODING, China, March 8 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE ) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which holds the brand " Yingli Solar," today announced a 300 MW PANDA mono-crystalline silicon-based manufacturing capacity expansion project at its Baoding headquarters.
Shares of Baoding, China-based Yingli were down 5 percent at $12.27 in early trade Monday on the New York Stock Exchange. More...

Monday

Mar-08-2009 -- Arrow Energy Gets $3 Billion Takeover Bid
Arrow said on Monday that the non-binding, conditional bid from a company jointly owned by Royal Dutch Shell and PetroChina would give shareholders A$4.45 of cash per share plus a share in a new entity comprised of Arrow's international business.
The relationship was further strained after China arrested four Rio Tinto staff last year on charges of bribery and stealing business secrets. More...

Mar-08-2009 -- Hong Kong Stocks Rise to 6-Week High on Profit, Growth Optimism
Hong Kong, Mar 8, 2010 - (ACN Newswire) - Metallurgical Corporation of China Ltd. ("MCC" or the "Company"; stock code: 1618) is pleased to announce that the Company has become one of the constituent stocks of both Hang Seng China Enterprises Index and Hang Seng China 50 Index effective fromtoday.
Aluminum Corp. of China Ltd., the nation's biggest maker of the lightweight metal, climbed 3.6 percent as U.S. unemployment shrank faster than estimated. More...

Mar-08-2009 -- US Gasoline Rises to $2.73, Lundberg Survey Shows
March 7 (Bloomberg) -- The average price of regular gasoline at U.S. filling stations rose to $2.7279 a gallon as crude oil advanced.
More...

Mar-08-2009 -- Germany Backs European Version of IMF
Created a little more than 11 years ago to solidify and expand economic relations among EU countries, the currency had been ascending against the dollar since 2002, with occasional interruptions caused by the global financial crisis.
Low U.S. interest rates, though an appropriate domestic response to the financial crisis, have pushed a global carry trade in which people borrow in dollars to fund investments in the apparently less crisis-hit large emerging-market economies. More...

Mar-08-2009 -- GM and Ford Channel Toyota to Beat Toyota
February sales numbers showed a decline of 9% for Toyota while the Detroit Three -- especially a surging Ford -- posted gains.
A Toyota dealer in American Samoa estimates that 87 vehicles in the territory are affected by Toyota's recall due to problems with a floor mat entrapment and a stuck accelerator pedal. More...

Mar-08-2009 -- Fan malfunction may have sparked Pa. forge fire
GROVE CITY, Pa. — Fire officials in western Pennsylvania say a malfunctioning fan may have been responsible for the blaze that destroyed a historic metal forge that made ashtrays for the ill-fated German airship the Hindenburg and did custom work for Walt Disney.
Smoke from the fire could be seen for miles around and word spread quickly on social networking sites that the metal manufacturer was on fire and burning to the ground. More...

Mar-08-2009 -- Chalk announces he'll run for re-election
The bill also allows for property tax relief, which supporters say would offset the cost of the sales tax increase for property owners.
Boosting the chamber's coffers for tourism marketing could also create jobs, build new revenues for the town and help pay for beach renourishment that might otherwise require future tax increases, chamber officials said. More...

Mar-08-2009 -- Despite progress, many residents still without water
Baltimore City Public Works officials are asking residents who live along the Reisterstown Road corridor from the city line to Butler Road in Baltimore County to keep their water use "to a minimum" as crews try to restore water to 40,000 customers who lost in a water main break this weekend.
Copyright 2010 by The Associated Press. More...

Mar-08-2009 -- Fed proposes rule to limit credit card fees
Predictably, fees are already starting to rise.
Bourke also points out that under the rule, issuers are still allowed to charge penalty fees that equal 100% of the violation. More...

Mar-08-2009 -- Allegiant, Continental add Hawaii flights
Continental will also fly once daily from Orange County to Honolulu International Airport.
The carrier will also launch a second daily flight between Los Angeles and Honolulu on Sunday. More...

Mar-08-2009 -- Yen weaker, high-yielders gain as risk in demand
TOKYO, March 8 (Reuters) - Japanese bank lending fell in February from a year earlier, matching the largest drop in more than four years and casting doubt on the effectiveness of central bank policy in fighting deflation as firms saddled with excess capacity refrain from fresh borrowing.
TOKYOThe yield on the benchmark Japanese government bond fell Friday on reports that the Bank of Japan may soon pump more money into the financial system, some of which could flow into government bonds, buoying prices. More...

Mar-08-2009 -- State school board member found injured in Raleigh home
Taft has been on the State Board of Education since 1995 and ran for a North Carolina Senate seat in 2008.
A dispatcher with Raleigh's emergency communications center said emergency medical workers were dispatched to 2710 Cartier Drive at 11:38 a.m. Saturday. More...

Sunday (Update 1)

Mar-07-2009 -- It's time to downsize the mail
If the U.S. Postal Service gets its way, today won't be the only day of the week you don't have mail delivery.
Given this week's report that the U.S. Postal Service is projecting a $7 billion loss this year, efforts to get its Logistics and Distribution Center in Logan Township to reopen are probably futile. More...

Mar-07-2009 -- General Motors Plans to Reinstate 661 Dealers to Shore Up Sales
General Motors Co. will reinstate 661 dealerships it sought to drop from its sales network.
Adams Auto Group in Belton was one of the dealers who got cut from GM last year. More...

Mar-07-2009 -- Four US Banks Shut Down as Failure Count This Year Reaches 26
Normal-based Bank of Illinois was closed by federal banking regulators Friday.
The U.S. Federal Deposit Insurance Corporation (FDIC) has warned that the pace of bank failures is likely to pick up in coming months. More...

Mar-07-2009 -- Zhou Signals Yuan Policy Shift
BEIJING, March 6 (Reuters) - China flagged on Saturday it will let the yuan resume its rise at some point as it unwinds the super-loose policies it has been pursuing to prop up the world's third-largest economy.
"The exchange rate mechanism is a dynamic process that must be implemented in accordance with China's overal government strategy and policies," Zhou said during a televised press conference at the National People's Congress meeting in Beijing. More...

Mar-07-2009 -- Google gripe shows Ottawa's cybersecurity 'vacuum'
Vice Minister Miao Wei told state run news agency Xinhua that China's Ministry of Industry and Information Technology had not received any word from Google on the matter.
Google's had never filed reports over alleged Internet regulation and cyber attacks to the ministry or requests for negotiations, said Miao. More...

Mar-07-2009 -- Why make government the prime source for student loans?
One of the primary reasons the government sends out the Student Aid Report is to catch mistakes, says Phil Bovenizer, associate director of financial aid for Otterbein College in Westerville, Ohio.
It'''s estimated that $87 billion would be saved over the next 10 years, money that would be put back into several areas, including increasing funding for Pell Grants, which provide financial aid for students from low-income families. More...

Mar-07-2009 -- CORRECT: SEC Charges Sean David Morton, 'America's Prophet', With Fraud
MANHATTAN (CN) - A psychic fraudulently raised $6 million by telling investors he could predict the stock market, the Securities and Exchange Commission claims in Federal Court.
The U.S. Securities and Exchange Commission has sued a self-proclaimed 'psychic' for fraud, alleging that he milked suckers for $6 million in a phony investment scam. More...

Mar-07-2009 -- Va. broadband provider RCN accepts Boston equity firm's acquisition offer
Private equity firm ABRY Partners is buying broadbank operator RNC for $1.2 billion, including the assumption of debt, to enter the cable markets in New York, Boston, Chicago, Washington and Philadelphia.
Miller Tabak media analyst David Joyce said the early surge in the stock may have been due to investor hopes that a better deal was coming -- the agreement includes a 40-day period where RCN can go out and seek another buyer. More...

Mar-07-2009 -- NEWSWIRES SURVEY: Dealers See Fed Rate Increases A Ways Away
After collapsing in a heap of deflationary despair, oil was saved by what could only be described as a historic government intervention.
The modifications are not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy or for monetary policy." More...

Mar-07-2009 -- Guns Easier to Carry Not Just at Starbucks
Very few people are comfortable sitting in a Starbucks sipping on cappuccino while gun toting activists are in tow.
Simply carrying a holstered gun in the open by itself does not qualify as behaving in a suspicious or threatening manner." More...

Mar-07-2009 -- TiVo Victory Seen Boosting Royalty Revenue Streams >TIVO
With the U.S. Court of Appeals for Eastern District of Texas giving its verdict in favor of TiVo Inc. - in the company's 2004-filed patent infringement lawsuit against EchoStar and its spin-off Dish Network Corp. -, the shares of the digital video recorders (DVR)-manufacturer soared a whopping 62 percent, at the end of regular trading on the Nasdaq on Thursday.
Only a fraction of cases requesting an en banc review, which would involve all of the federal appeals court judges within the circuit, are granted each year, and only to cases that have broader legal implications. More...

Mar-07-2009 -- Maple syrup demo highlights breakfast
State inspectors can visit any sugar shack that sells syrup to test the product.
Hundreds showed up for the two-day, all-you-can-eat pancake fest at Hartman. More...

Sunday

Mar-07-2009 -- Four US Banks Shut Down as Failure Count This Year Reaches 26
Normal-based Bank of Illinois was closed by federal banking regulators Friday.
Paul Allred, deputy commissioner of the state Department of Financial Institutions, said no bank could be found to take over Centennial. More...

Mar-07-2009 -- Va. broadband provider RCN accepts Boston equity firm's acquisition offer
Private equity firm ABRY Partners is buying broadbank operator RNC for $1.2 billion, including the assumption of debt, to enter the cable markets in New York, Boston, Chicago, Washington and Philadelphia.
The price tag includes ABRY's assumption of about $630 million of RCN's debt. More...

Mar-07-2009 -- Florida Tomato Growers May Lose $7 Million a Week, Group Says
Owners of area restaurants already are feeling the pinch of a nationwide tomato shortage.
Florida's fresh tomato production should pick up by April as growers in southern Florida begin harvesting a new crop, according to the Wall Street Journal. More...

Mar-07-2009 -- Mom, Apple Pie and Mortgages
Extensive government support for the companies and the mortgage market has kept interest rates low -- making houses more affordable, containing the damage from the housing bust and helping to restore the health of big banks.
The companies buy mortgages from lenders and guarantee home-loan securities, freeing up cash at banks to make more loans. More...

Mar-07-2009 -- General Motors Plans to Reinstate 661 Dealers to Shore Up Sales
NEW YORK — General Motors Co. will reinstate 661 dealerships it sought to drop from its sales network.
The dealership is one of 2,000 expected to turn into used car dealers in October. More...

Mar-07-2009 -- 9 more US airports will receive body scanners in coming months
Mar 5 (THAINDIAN NEWS) According to Homeland Security Secretary Janet Napolitano, the federal government is beginning to send out full body imaging machines to eleven more airports in the United States.
Most passengers prefer the scan to the pat down, but others say that the scanners are akin to an electronic strip search. More...

Mar-07-2009 -- China to punish hackers, says no Google complaint
Vice Minister Miao Wei told state run news agency Xinhua that China's Ministry of Industry and Information Technology had not received any word from Google on the matter.
Google's had never filed reports over alleged Internet regulation and cyber attacks to the ministry or requests for negotiations, said Miao. More...

Mar-07-2009 -- Group Protests Starbucks Gun Policy
When it comes to the gun issue, Starbucks said it will abide by state laws.
Is it bad manners for a cop to carry a weapon on their belt? The answeris no, and neither is it bad manners for a CCWer to have a gun on their belt. More...

Mar-07-2009 -- Help for First-Time Buyers
At the present time we are seeing the 30 year fixed mortgage rate around 4.75% and the 15 year fixed mortgage rate around 4.15%.
Lower mortgage rates and government tax credits weren't enough to boost home sales in January. More...

Mar-07-2009 -- Legislation pushes cleaner coal-fired plants in Colo.
Proposed legislation supported by Xcel Energy calls for replacing or re trofitting a number of coal-fired power plants in the state by the end of 2017.
Ritter's administration struck the agreement with Xcel Energy, the Front Range's major utility. More...

Mar-07-2009 -- Some of the IRS' extra $1.3 billion may be yours
The IRS has some good news for nearly 40,000 New Jerseyans who did not file 2006 federal tax returns: There'''s about $43 million waiting for you.
If your employer withheld any money for taxes, you could be eligible for a refund. More...

Mar-07-2009 -- CORRECT: SEC Charges Sean David Morton, 'America's Prophet', With Fraud
Updated More from The New York Times here.
The Securities and Exchange Commission (SEC) is now after Morton for allegedly scamming $6m (€4.4m). More...

Saturday (Update 1)

Mar-06-2009 -- 9 more US airports will receive body scanners in coming months
Mar 5 (THAINDIAN NEWS) According to Homeland Security Secretary Janet Napolitano, the federal government is beginning to send out full body imaging machines to eleven more airports in the United States.
BOSTON, March 5 (Reuters) - Airport officials on Friday showed off new X-ray scanning machines they will use to screen more passengers with full-body imaging as called for by security advocates, a step that has alarmed civil libertarians. More...

Mar-06-2009 -- More owners of Toyota vehicles say recall repairs aren't working
"If it appears that a remedy provided by Toyota is not addressing the problem it was intended to fix, NHTSA has the authority to order Toyota to provide a different solution," the agency said in a statement.
Friday, House Oversight and Government Reform Committee Chairman Edolphus Towns, D-N.Y., and Rep. Darrell Issa of California, the panel's top Republican, asked NHTSA for more details on steps the agency is taking to address the acceleration issues and for more information on the number of complaints by Toyota drivers. More...

Mar-06-2009 -- Va. broadband provider RCN accepts Boston equity firm's acquisition offer
Private equity firm ABRY Partners is buying broadbank operator RNC for $1.2 billion, including the assumption of debt, to enter the cable markets in New York, Boston, Chicago, Washington and Philadelphia.
Deutsche Bank Securities and Waller Capital Partners were present at the deal between RCN and ABRY, which witnessed as financial advisors to RCN; simultaneously the SunTrust Robinson Humphrey witnessed for ABRY. More...

Mar-06-2009 -- Most Americans think a mail-free Saturday sounds fine: Poll
"The projections going forward are not bright," Potter said in a recent briefing.
"Lifestyles and ways of doing business have changed dramatically in the last 40 years, but some of the laws that govern the postal service have not," Potter said Tuesday in a statement. More...

Mar-06-2009 -- Florida Tomato Growers May Lose $7 Million a Week, Group Says
The average wholesale price for a 25-pound box of tomatoes is now $30, up from $6.50 a year ago.
The farmers are the ones who are feeling the cold most keenly. More...

Mar-06-2009 -- Frank retreats on debt
Extensive government support for the companies and the mortgage market has kept interest rates low -- making houses more affordable, containing the damage from the housing bust and helping to restore the health of big banks.
The mortgage lender, along with sibling company Freddie Mac ( FRE ), was taken over by the U.S. government at the peak of the financial crisis in September 2008. More...

Mar-06-2009 -- Consumer credit posts first rise in a year
With the unexpected increase, consumer credit rose for the first time since January 2009, marking the biggest increase since July of 2008.
The unexpected monthly gain in outstanding consumer credit more than reversed a revised $4.57 billion drop in December credit and was centered in so-called nonrevolving credit, which includes items like loans to buy new cars and boats. More...

Mar-06-2009 -- GE CEO Immelt Skips 2009 Bonus
The company last year announced new manufacturing and research jobs in the U.S., including in Michigan and Kentucky.
General Electric Co. (NYSE: GE ) CEO Jeffrey Immelt has turned down bonus for a second consecutive year as the company saw decline in profits due to global economic crisis. More...

Mar-06-2009 -- Essar Confirms Trinity Coal Acquisition, Seeking Other Deals
Essar Group, one of India's biggest conglomerates, has agreed to buy Trinity Coal of the U.S. for $550m-$600m in a deal signalling the return of the country's industrial groups to the global acquisition trail.
The Ruias are installing thousands of megawatts of power generation plants and expanding steel production capacity in India to 10 million tonnes from 4.5 million tonnes now. More...

Mar-06-2009 -- Mercedes-Benz hit with large 'lemon law' judgment
The Mercedes-Benz 2010 S400 HYBRID is the world's first production vehicle powered by lithium-ion, a sophisticated new battery technology that is more compact and energy efficient than conventional batteries.
March 5th, 2010 The Mercedes-Benz S400 Hybrid ESF Safety Prototype made its debut last fall, and we brought you the official details on the car then, but this week TheCarConnection's John Voelcker got to spend some time with the car in the high-tech safety-featured flesh. More...

Mar-06-2009 -- US HOT STOCKS: Hewlett-Packard Active In Late Trading
Hewlett-Packard was forced to cut its previously reported quarterly earnings by $73m after a UK court ordered the computer company to make another ''70m ($112m) payment to British Sky Broadcasting.
HP said the revision was prompted by a ruling that could force subsidiary Electronic Data Systems to pay out another $112 million to the U.K.' s British Sky Broadcasting Group PLC. EDS, which HP acquired in 2008, had already made a voluntary payment in the case of $320 million, the company said. More...

Mar-06-2009 -- Real Estate Firms Rise To The Occasion
NEW YORK (Reuters) - General Growth Properties Inc's GGWPQ.PK unsecured creditors and suitor Simon Property Group ( SPG.N ) on Tuesday criticized William Ackman's role in the mall owner's restructuring plan, alleging conflicts of interest given his position as a director and largest shareholder.
Results included a 90bps decline in occupancy to 91.6%, a 4.4% decline in comparable retail NOI, a 7.4% decrease in comparable tenant sales per square foot, and a 10.2% decrease in comparable core FFO for 2009. More...

Saturday

Mar-06-2009 -- Oakland, San Jose airports to get body scanners
Mar 5 (THAINDIAN NEWS) According to Homeland Security Secretary Janet Napolitano, the federal government is beginning to send out full body imaging machines to eleven more airports in the United States.
"The TSA knows we want them, and we're sure we'll get what we need." More...

Mar-06-2009 -- Four US Banks Shut Down as Failure Count This Year Reaches 26
Normal-based Bank of Illinois was closed by federal banking regulators Friday.
Depositors of Sun American are now depositors of First-Citizens Bank & Trust Company. More...

Mar-06-2009 -- US borrowing saw unexpected rise in January
With the unexpected increase, consumer credit rose for the first time since January 2009, marking the biggest increase since July of 2008.
The unexpected increase in combined revolving and non-revolving credit was a surprise to analysts who expected a 12th-month with a decrease because of predominantly tight credit standards among lenders. More...

Mar-06-2009 -- Banks scramble to raise cash after Fannie Mae cuts
Extensive government support for the companies and the mortgage market has kept interest rates low -- making houses more affordable, containing the damage from the housing bust and helping to restore the health of big banks.
Geithner said administration officials "want to make sure that we get it right," though Rep. Darrell Issa, R-Calif., accused the White House of "punting." More...

Mar-06-2009 -- RCN Is Sold to Firm in $535 Million Deal
Private equity firm ABRY Partners is buying broadbank operator RNC for $1.2 billion, including the assumption of debt, to enter the cable markets in New York, Boston, Chicago, Washington and Philadelphia.
RCN's primary markets for triple-play services are Washington, D.C., Philadelphia, New York City, Boston, Chicago and Pennsylvania's Lehigh Valley. More...

Mar-06-2009 -- House committees seek more answers from Toyota
Representatives Henry Waxman and Bart Stupak, top Democrats on a key House committee looking into the Japanese auto giant's woes, made the request in a letter to the embattled company's top U.S. executive.
Some safety consultants have alleged that electronic throttle control, or ETC, systems used on Toyota cars are a likely cause of unintended acceleration problems. More...

Mar-06-2009 -- Retailers Balking at Mall Deal
NEW YORK (Reuters) - General Growth Properties Inc's GGWPQ.PK unsecured creditors and suitor Simon Property Group ( SPG.N ) on Tuesday criticized William Ackman's role in the mall owner's restructuring plan, alleging conflicts of interest given his position as a director and largest shareholder.
If Simons bid is accepted by the bankruptcy judge, General Growth Properties would not be split, and all four Inland properties could remain in the same portfolio. More...

Mar-06-2009 -- GE CEO Immelt Skips 2009 Bonus
The company last year announced new manufacturing and research jobs in the U.S., including in Michigan and Kentucky.
Because of a change in SEC rules, GE valued Immelt's 2008 stock awards at $2.04 million, rather than the $6.86 million it reported a year ago. More...

Mar-06-2009 -- Mercedes-Benz hit with large 'lemon law' judgment
The Mercedes-Benz 2010 S400 HYBRID is the world's first production vehicle powered by lithium-ion, a sophisticated new battery technology that is more compact and energy efficient than conventional batteries.
March 5th, 2010 The Mercedes-Benz S400 Hybrid ESF Safety Prototype made its debut last fall, and we brought you the official details on the car then, but this week TheCarConnection's John Voelcker got to spend some time with the car in the high-tech safety-featured flesh. More...

Mar-06-2009 -- Iceland is voting on referendum that will shape future
Polls suggest that three quarters of Icelanders are expected to vote "no" in a referendum Saturday on a $5.3 billion deal to compensate Britain and the Netherlands for deposits lost in a collapsed Icelandic bank.
Opponents say the repayment plan forces Icelandic taxpayers to pay for bankers' mistakes. More...

Mar-06-2009 -- Indian conglomerate buys W.Va. coal company
Essar Group, one of India's biggest conglomerates, has agreed to buy Trinity Coal of the U.S. for $550m-$600m in a deal signalling the return of the country's industrial groups to the global acquisition trail.
The Scott Depot, West Virginia-based Trinity Coal owns mines in Kentucky and West Virginia. More...

Mar-06-2009 -- HP Lowers First-Quarter Earnings
HP compensates for the limitations on its use of non-GAAP operating profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP diluted earnings per share and gross cash by relying primarily on its GAAP results and using non-GAAP financial measures only supplementally.
The revised net income for the first-quarter now stands at $2.25 billion or $0.93 a share. More...

Friday (Update 1)

Mar-05-2009 -- InterMune Surges After Dodging Critical US Review
InterMune, Inc. (NASDAQ: ITMN ) announced today that the U.S. Food and Drug Administration (FDA) has posted briefing documents for the March 9 Pulmonary-Allergy Drugs Advisory Committee (PADAC) meeting to review the New Drug Application (NDA) for pirfenidone, InterMune's investigational drug candidate for the treatment of patients with idiopathic pulmonary fibrosis (IPF) to reduce decline in lung function.
InterMune Inc. (NASDAQ: ITMN ) shares have been up as much as $10.76 to $25.37 this morning in regular trading, more than 73% higher than yesterday'''s close, on news that the FDA may be taking a less critical view of the company'''s data on its experimental lung medicine, pirfenidone. More...

Mar-05-2009 -- AIG to Sell Reinsurer Stake Valued at $494 Million
NEW YORK, Mar 05, 2010 (BUSINESS WIRE) -- American International Group, Inc. (AIG) today announced its intention to sell in a public offering the remaining 9,192,662 million shares of common stock of Transatlantic Holdings, Inc. (TRH) owned by American Home Assurance Company (AHAC), an AIG subsidiary.
In a separate statement, New York-based Transatlantic said it would buy up to 2 million of the shares in a secondary public offering. More...

Mar-05-2009 -- Icelanders eye chance for payback
ON MARCH 6TH Icelanders go to the polls to vote in an historic referendum.
With a whole generation gone, who would still be interested in Iceland? Not Europe or the U.S., believes Daði. More...

Mar-05-2009 -- Six Flags 4th-quarter loss narrows
The increase was partially offset by a $113.7 million decrease in income tax expense primarily reflecting the prior-year increase in the valuation allowance for deferred tax assets, $77.6 million of reduced net interest expense reflecting the cessation of interest accruals on the Company's debt subject to compromise as a result of the Chapter 11 Filing, the write-off of discounts, premiums and deferred financing costs and lower effective interest rates, and the decreased cash and non-cash operating expenses.
Exchange rates accounted for approximately $0.12 of the guest spending per capita increase for the quarter compared to the prior-year quarter. More...

Mar-05-2009 -- FOREX-Dollar rises vs yen after US jobs report
March 3 (Bloomberg) -- The dollar fell for a second day against the euro as traders increased bets the Federal Reserve will keep its target interest rate near zero to sustain a recovery in the world's biggest economy.
FXstreet.com (Barcelona) - Asian markets have posted gains for the third consecutive session on Tuesday, as upbeat economic data in U.S. and Japan have buoyed investors' risk appetite. More...

Mar-05-2009 -- Apple's iPad release date leads tech advance
Priced from $499, Apple hopes the touchscreen iPad will grab share from the netbook market.
More...

Mar-05-2009 -- BP CEO's Pay Up 41% In 09 On Improved Performance
Mr Hayward was awarded a total of £4.01 million in cash and shares, up from £2.85 million in 2008, according to the group's annual report which was published today.
BP chief executive Tony Hayward's pay rose by 26% to '3.2 million last year, making him one of the best-paid bosses in the Footsie. More...

Mar-05-2009 -- Solarfun Power warns of continued ASP fall, shares drop
Traders aren't all that impressed either sending the stock down a few percent in premarket trading.
For the fourth quarter, the company posted net income attributable to common shareholder of 10.6 million yuan ($1.55 million), compared with a loss of 418.8 million yuan last year. More...

Mar-05-2009 -- Coke CEO pay falls 16 pct in 2009 to $18.8 mln
NEW YORK, March 5 (Reuters) - Coca-Cola Co ( KO.N ), the world's largest soft drink maker, said it awarded Chairman and Chief Executive Muhtar Kent compensation worth $18.8 million for 2009, 16 percent below the $22.4 million package he received in 2008.
Kent's "all other compensation," including thrift plan contributions, aircraft usage, security and car and driver, was about $660,000 in 2009. More...

Mar-05-2009 -- Answers About Education Tax Credits and Deductions: Part 3
Filing your taxes online is the fastest and easiest way to complete your federal income taxes.
Gather records: Round up any documents or forms you'll need when filing your taxes: receipts, canceled checks and other documents that support an item of income or a deduction you're taking on your return. More...

Mar-05-2009 -- Postal Service Urged to Weigh Three-Days-a-Week Mail
The reality is the U.S. Postal Service's proposal to drop Saturday delivery won't make much difference because more and more bills and greetings are delivered electronically these days.
The moves are what one would expect to hear: Eliminate Saturday service, while eliminating the prepaid retirement health benefits plan. More...

Mar-05-2009 -- Fannie and Freddie Are Right to Force Bad Mortgages Back to Banks
March 5 (Bloomberg) -- Fannie Mae and Freddie Mac may force lenders including Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. to buy back $21 billion of home loans this year as part of a crackdown on faulty mortgages.
While investors may demand repurchase at any time, most demands occur within three years of the loan date, Wells Fargo said. More...

Friday

Mar-05-2009 -- Orbital Sciences to buy General Dynamics' satellite unit
The facility, which Orbital said has special security provisions for highly classified programs, is located 16 kilometers from Orbital's rocket-manufacturing plant in Chandler, Ariz. "Upon closing of the acquisition, about 325 new employees will join Orbital, most of whom are engineers, technicians and program managers, many with security clearances for sensitive U.S. Government programs," Orbital said in its press release.
Orbital also provides satellite subsystems and space-related technical services to U.S. Government agencies and laboratories. More...

Mar-05-2009 -- Despite Storms, Stores Beat Expectations With Relatively Strong Gains
U.S. chain stores saw more evidence during February of a cautious readiness by U.S. consumers to spend, as a broad range of retailers reported comparable sales gains in spite of severe winter weather that swept the U.S. east coast.
"The outlook for 2010 is for retail sales to firm, with stronger growth expected in 2011," Mulvee stated. More...

Mar-05-2009 -- Postal Service Urged to Weigh Three-Days-a-Week Mail
WASHINGTON-The United States Postal Service (USPS), while delivering a boatload of bad news in forecasting as much as $238 billion in losses over the next 10 years, says it is counting on small package shippers to prevent even larger losses.
Package services amounted to $1.7 billion of the USPS's $68 billion revenue last year. More...

Mar-05-2009 -- FBI director warns of growing cyber threat
SAN FRANCISCO, March 4 (Reuters) - Militant groups, foreign states and criminal organizations pose a growing threat to U.S. security as they target government and private computer networks, FBI Director Robert Mueller said on Thursday.
FBI Director: Hackers Have Corrupted Valuable Data - PCWorld PCWorld.com is upgrading some back-end systems. More...

Mar-05-2009 -- Jobless claims drop, retail sales climb
The economy has lost 8.4 million jobs since the recession began.
A year ago, initial jobless claims totaled 643,000, the four-week moving average was 636,750 and continuing claims totaled 5.1 million. More...

Mar-05-2009 -- Gold tracks euro higher ahead of US payroll data
U.S. gold futures for April delivery on the COMEX division of the New York Mercantile Exchange settled up $5.90 at $1,143.30 an ounce.
Gold was trading firmly over $1,100 an ounce as bargain hunters supported prices. More...

Mar-05-2009 -- Treasury sells Bank of America warrants for $1.54 billion
WARRANT SALE: The Treasury Department received $1.54 billion in an auction of warrants it had received for providing support to Bank of America during the financial crisis.
The first group of warrants, tied to a bailout meant specifically for Bank of America, were sold near the high end of a range estimated by Linus Wilson, a finance professor at the University of Louisiana at Lafayette. More...

Mar-05-2009 -- Marvell Sets Long-Term Revenue, Gross-Margin Goals
The company's operating expenses in the fourth quarter fell 10 percent to $297 million.
Analysts had projected $842.8 million on average, with some estimates topping $860 million, according to a Bloomberg survey. More...

Mar-05-2009 -- AIG Units Settle Discrimination Case
March 4 (Bloomberg) -- AIG Federal Savings Bank and Wilmington Finance Inc. settled U.S. Justice Department claims that they broke the law by allowing wholesale mortgage brokers to charge higher direct broker fees to black borrowers.
Brought under the federal Fair Housing and Equal Credit Opportunity Acts, the complaint alleges African American borrowers nationwide were charged higher fees on wholesale loans made by AIG Federal Savings Bank (FSB) and Wilmington Finance Inc. (WFI), an affiliated mortgage lending company. More...

Mar-05-2009 -- US Economy: Pending Sales of Existing Homes Decline
NAR Chief Economist Lawrence Yun blamed the weather noting, "The abnormally severe and prolonged winter weather, which affected large regions of the U.S., hampered shopping activity in February."
New-home sales fell to the lowest on record, the Commerce Department said Feb. 24. More...

Mar-05-2009 -- Fed Presidents Say Rates Need to Be Low Early in US Recovery
NEW YORK (Reuters) - A soft economic recovery marked by high unemployment and tame inflation should allow the U.S. Federal Reserve to keep interest rates low for a long time, three top central bank officials said on Wednesday.
"The Fed should remain involved with smaller bank regulation so it has a view of the entire financial landscape and does not become biased toward the large, mostly New York-based institutions," Bullard said. More...

Mar-05-2009 -- Toyota Plans Sales Push in China
March 5 (Bloomberg) -- Toyota Motor Corp., the world's biggest carmaker, started a zero-percent financing program this month to lure buyers in China after global recalls of more than 8 million vehicles marred the company's reputation.
Toyota boosted China sales about 30 percent from a year earlier to 45,400 vehicles last month, the company said in Beijing on March 1. More...

Thursday (Update 1)

Mar-04-2009 -- Shoppers Brave Snowstorms to Boost US Retail Sales
Total February U.S. comparable-store sales climbed 4.1 percent, topping the Retail Metrics 3 percent estimate, Perkins said in a telephone interview.
More...

Mar-04-2009 -- BofA Warrants Sale Raises $1.5 Billion
The 150.4 million Group A warrants were priced at $8.35 each, compared with the minimum bid of $7, while the 121.8 million Group B warrants sold for $2.55, compared with the base bid of $1.50, the Treasury said today in a statement.
The $1.54 billion total is the largest amount raised from a single institution from the sale of warrants as part of the government's $700 billion financial rescue effort. More...

Mar-04-2009 -- Wal-Mart hikes annual dividend by 11%; shares rise
SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc on Thursday said it raised its annual dividend by 11 percent, citing its strong underlying operations and free cash flow.
Maybe the irony would be funny if it weren't so pathetic and sad. More...

Mar-04-2009 -- Ciena 1Q Loss Widens On Delay In Recording Sales
Forward-looking statements.
Ciena failed to book about $10 million in revenue last quarter due to delays in contract closings and component shortages. More...

Mar-04-2009 -- Gartner raises 2010 PC forecast
"Apple's iPad is just one of many new devices coming to market that will change the entire PC ecosystem and overlap it with the mobile phone industry," said Ranjit Atwal, principal analyst at Gartner, in a statement.
The research group expects worldwide PC shipments of 366.1 million units this year. More...

Mar-04-2009 -- Del Monte 3Q profit slips on refinancing costs
Based on the over-delivery of results in the third quarter fiscal 2010 and our revised outlook for full-year costs, we are increasing our EPS target range for fiscal 2010.
The Street consensus estimate for the quarter was 21 cents on revenue of $982.3 million. More...

Mar-04-2009 -- Orders for US Computers, Machinery Fall as Investment Cools
A limit order does not guarantee your order will be executed -" however, it does guarantee you will not pay a higher price than you expected.
The Commerce Department said Thursday that factory orders rose 1.7 percent in January, slightly below the 1.8 percent gain economists had expected. More...

Mar-04-2009 -- Wendy's Loss Narrows Sharply
Excluding one-time charges, the company actually would have been in the black, earning $30.9 million or 7 cents per share in the fourth quarter.
Shares dropped 3.3% in premarket trading. More...

Mar-04-2009 -- Facebook CEO in No Rush To 'Friend' Wall Street
"We're going to go public eventually, because that's the contract that we have with our investors and our employees," Mr. Zuckerberg said in the profile of the young chief.
Facebook chief executive and co-founder Mark Zuckerberg said in an interview Thursday he is in no hurry to launch an initial public offering for the wildly popular social networking site. More...

Mar-04-2009 -- Watson and Columbia Labs in deal worth $92.5M
Watson Pharm announces agreement to acquire U.S. rights to Columbia Laboratories' CRINONE Progesterone gel product line Co announced an agreement to expand their Women's Health brand product portfolio with the acquisition of the exclusive U.S. rights to Columbia Laboratories (CBRX), bioadhesive progesterone gel products currently marketed under the trade names CRINONE and PROCHIEVE for the indications of infertility and secondary amenorrhea.
Under the agreement, Watson will pay Columbia $47 million upfront, as well as milestone payments of up to $45.5 million and royalties. More...

Mar-04-2009 -- Profits shine once again at Suntech
Analysts, on average, were looking for earnings of 12 cents a share, before items, on revenue of $468.3 million, according to Thomson Reuters I/B/E/S. The quarter saw the company's gross margin climb to 23.8 percent from 17.8 percent in the third quarter.
"Suntech had a strong quarter, and is benefitting from a good brand name in Italy and the U.S.," said Sanjay Shrestha, an analyst at Lazard Capital Markets in New York who has a "buy" rating on the shares. More...

Mar-04-2009 -- Bristol sets baseline for profits post-Plavix
The company projects 2010 adjusted earnings of $2.15 to $2.25 a share.
Brian Daniels, senior vice president of global development and medical affairs at Bristol-Myers Squibb, welcomed the news as an encouraging indicator. More...

Thursday

Mar-04-2009 -- Economic indicators are mixed after heavy snow season
NEW YORK (CNNMoney.com) -- The economy continued to show modest signs of improvement in recent weeks, although growth was hindered somewhat by bad weather, according to the latest Federal Reserve snapshot of regional economic conditions.
Dallas: Economic activity improved in many sectors, but commercial real estate, financial services and construction-related manufacturing was left behind. More...

Mar-04-2009 -- Bankruptcy court gives General Growth more time
NEW YORK (Reuters) - General Growth Properties Inc's ( GGWPQ.PK ) unsecured creditors and suitor Simon Property Group ( SPG.N ) on Tuesday criticized William Ackman's role in the mall owner's restructuring plan, alleging conflicts of interest given his position as a director and largest shareholder.
Simon has offered $10 billion for General Growth and wants the bankruptcy judge to deny the extension. More...

Mar-04-2009 -- ECB Praises Greek Plans, Not Bailout
The central bank introduced a range of cheap liquidity operations when the financial crisis first exploded to allow the commercial banks to have access to money at a time when the credit markets had seized up.
"The ECB's hands are not tied, but Greece clearly influences the bank's policy," said Klaus Baader, co-chief European economist at Societe Generale SA in London. More...

Mar-04-2009 -- Pfizer, Merck Drop, While Big Lots Gains
NEW YORK (Mar. 3) Hopes that a drug Soviet scientists created in the 1980s might provide a treatment for Alzheimer'''s disease were dashed as the two companies developing it got lackluster results from a late-stage clinical trial.
DRUG DISAPPOINTMENT: After strong results in a midstage study, an Alzheimer's drug Pfizer Inc. is developing with a partner unexpectedly failed to work in a late-stage patient test. More...

Mar-04-2009 -- Markets Welcome Greece Plan
March 4 (Bloomberg) -- Make way, bond vigilantes.
The Markit CDX North America Investment Grade Index, a credit-default swaps benchmark that investors use to hedge against losses on corporate debt, fell 1 basis point to a mid- price of 88.5 basis points as of 4:45 p.m. in New York, according to broker Phoenix Partners Group. More...

Mar-04-2009 -- US Airways Pilot Who Landed Plane In Hudson Retiring
DANVILLE, Calif. -- Capt.
Retiring was flight attendant Doreen Welsh, who helped guide passengers on the fateful flight to safety. More...

Mar-04-2009 -- Sina misses analyst estimates with adjusted profit
The company also delivered a revenue forecast that fell short of analyst estimates, and its shares fell more than 4 percent to $35.85 in after-hours trade on Wednesday.
Sina Corp. 's (SINA) fourth-quarter profit soared as the Chinese Internet company recorded a big gain related to its real-estate advertising operations and recorded surprisingly strong revenue. More...

Mar-04-2009 -- PetSmart Q4 beats Street; sees strong 2010
Revenue for the quarter was $98.2 million, which compares to the estimate of $95.26 million.
The company repurchased $165 million of PetSmart stock during 2009, with $80 million repurchased during the fourth quarter. More...

Mar-04-2009 -- GM design chief Bob Lutz says 'my work is done here'
General Motors has announced that Vice Chairman Bob Lutz will retire from the company May 1st.
There is one other consideration. More...

Mar-04-2009 -- Zumiez sales comparison rises 11.2 percent
Everett-based retailer Zumiez reported an 11.2 percent increase in sales at stores open at least a year for February, sending its stock up 6.7 percent in after-hours trading Wednesday.
Jefferies & Co analyst Randal Konik said Zumiez's results indicated that the actions sports category was stabilizing, and the company's business itself had stabilized and was accelerating. More...

Mar-04-2009 -- Nikkei drifts; hopes for Greece, US economy support
Elpida Memory ( 6665.T ) gained after the chipmaker said it was in talks to buy the flash memory assets of U.S. company Spansion ( SPSNQ.PK ).
TOKYO, March 4 (Reuters) - Japan's Nikkei stock average was flat in choppy trade on Thursday, pressured by a stronger yen, though slides were limited by encouraging U.S. economic data and hopes for progress on Greece's debt woes. More...

Mar-04-2009 -- Fed proposes limits on credit card penalty fees
More notice for new interest rate changes : Card issuers must give cardholders 45 days advance notice of an interest rate change.
Perhaps consider reducing the number of credit cards you have by closing out the ones that have unfavorable terms and interests rates. More...

Wednesday (Update 1)

Mar-03-2009 -- Toyota's fix is a bust, owners claim
The Japanese automaker is recalling 5.4 million cars and trucks because of a potential for the floor mats to trap the accelerator pedal, as well as 4.1 million vehicles with a gas pedal that can stick.
NHTSA Administrator David Strickland said that while Toyota's troubles have come into sharp focus, the large number of complaints reflects the company's growing U.S. market share. More...

Mar-03-2009 -- BEFORE THE BELL: US Stock Futures Edge Up With Focus On Greece, Data
Getty Images Traders work on the floor of the New York Stock Exchange.
Employment numbers released this morning by ADP (NASDAQ: ADP ) report private sector job losses of 20,000 in February. More...

Mar-03-2009 -- Nissan Issues Recall for More Than 500000 Vehicles
Nissan Recall: Nissan Recalls Due to Pedal Problems Latest Updates Nissan Motor Co.''' s North American unit said late Tuesday it is recalling 539,864 vehicles due to brake-pin and fuel-gauge problems, most of them in the U.S. The brake-pin recall stems from '''three reported instances of brake pedal pins partially disengaging, causing a loss of normal braking ability,''' the company said.
According to Nissan, five car models like the Titan trucks and the SUV Armada will be recalled due to faulty brake pedal pins. More...

Mar-03-2009 -- Fed's Fisher: No Inflation Pressure In Foreseeable Future
Dallas Federal Reserve Bank President Richard Fisher said today that he would advocate a plan to break up large firms that pose a systemic risk to the economy.
The main officials involved in international talks involving major central banks are typically the Fed's chairman and vice chairman and the president of the New York Fed. Fisher didn't identify firms he would target for breaking up. More...

Mar-03-2009 -- Deutsche tries drug combination for LBO headache
According to Bloomberg News, citing two unnamed 'inside' sources, drug biggie Pfizer is looking to broaden its generic drug business, by making a 3 million Euro ($4.08 billion) offer for the Germany-based generic-drug maker Ratiopharm.
A purchase of the Ulm-based company, which is being sold by the Merckle family to repay debt, would be the biggest generic- drug deal since Teva bought Barr Pharmaceuticals Inc. for $7.4 billion in 2008. More...

Mar-03-2009 -- Novell Shares Jump, Surpass Hedge Fund's Offer Price
As El Reg explained yesterday , when the deal was announced in the wake of Wall Street shutting down trading for the day, the $5.75 per share deal represents a 21 per cent premium over the closing price of $4.75 per share for Novell's stock immediately before the deal was announced.
If you have followed software companies for more than a decade, you have probably grown accustomed to seeing Novell, Inc. (NASDAQ: NOVL) act as a dead money stock.'' More...

Mar-03-2009 -- Services sectors show best growth in two years
The 53 reading is the highest since January 2008, when ISM revised how it measured the service sector.
A limit order does not guarantee your order will be executed -" however, it does guarantee you will not pay a higher price than you expected. More...

Mar-03-2009 -- Announced US Job Cuts Drop to Three-Year Low, Challenger Says
Recent firings more likely resulted from changes in "strategy," including mergers and shifts from one business area to another, than from economic concerns, Challenger said.
Planned firings fell 77 percent in February to 42,090, the least since July 2006, from 186,350 a year earlier, according to data collected by the job placement firm Challenger, Gray & Christmas Inc. Announcements decreased from 71,482 in January. More...

Mar-03-2009 -- Bristol-Myers Operating Chief To Replace Cornelius As CEO
NEW YORK (Reuters) - Bristol-Myers Squibb Co on Tuesday named Chief Operating Officer Lamberto Andreotti, 59, to succeed James Cornelius as its chief executive officer, effective May 4.
Lamberto Andreotti, 59, has been president and chief operating officer in charge of the global pharmaceutical business since March last year. More...

Mar-03-2009 -- FOMC's March meeting on rates could prove unruly
In particular -- and "critical" to avoiding future crises -- the Boston Fed chief said reform should enhance the potential to wind down or resolve systemically important institutions that are failing.
NEW YORK (Dow Jones)--Federal Reserve Bank of Boston President Eric Rosegren said the low rates maintained by the central bank during much of last decade were not a main driver of the housing market bubble, which should give some confidence current rate policy is not creating fresh troubles. More...

Mar-03-2009 -- Ethan Allen shares up 14 percent on strong early 2010 orders
NEW YORK (Reuters) - Ethan Allen Interiors' ( ETH.N ) shares rose 14 percent on Wednesday, a day after the furniture retailer said sales trends were perking up.
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. More...

Mar-03-2009 -- Walgreen Feb. sales rise, but key reading slips
Morningstar analyst Matthew Coffina expects Walgreen's same-store sales "to really decelerate" in the next few years.
In February, Pharmacy sales increased 3.7% from last year, accounting for 64.5% of total sales for the month. More...

Wednesday

Mar-03-2009 -- Treasury Swap Spread Smallest Since 1988 as Greece Creates Plan
NEW YORK, March 1 (Reuters) - U.S. government debt prices ended flat to slightly higher as investors' anxiety over the economy supported a safety bid for bonds and offset a rally on Wall Street.
Disappointing housing data, reassuring words on interest rates from Federal Reserve Chairman Ben Bernanke, and the debt crisis in Greece combined to give Treasurys a lift over the past week, even as the market grappled with a stream of new issuance. More...

Mar-03-2009 -- JGBs edge down on stock gains, US data eyed
TOKYO (Reuters) - Japan's Nikkei stock average clawed up 0.3 percent on Wednesday as gains in resource shares on strong metals prices offset falls in exporters after the yen rose to a more than two-month high against the dollar.
The benchmark 225-issue Nikkei Stock Average advanced 49.78 points, or 0.49 percent, from Monday to 10,221.84. More...

Mar-03-2009 -- Bristol-Myers Names New CEO
Bristol-Myers Squibb Co. said Tuesday that company veteran Lamberto Andreotti will become chief executive on May 4, in a move that should continue the company's transformation into a midsize, pure-play drug maker.
A U.S. federal advisory panel recommended approval of Bristol-Myers Squibb Co.' s organ-transplant drug belatacept for use in patients undergoing kidney transplants. More...

Mar-03-2009 -- Pfizer Reportedly To Bid For German Generic-drug Maker Ratiopharm - Update
Pfizer is reportedly gearing up this week to bid 3 million euro ($4.08 billion) for Ratiopharm, a generic drug maker based in Germany, according to Bloomberg News, which cited two unidentified people with knowledge of the talks.
Three bidders will ask for the keys to Ratiopharm'''s final data room later this month as the '''3bn ($4bn) auction of the German generic drug company moves into the final stages. More...

Mar-03-2009 -- Oil steady below $80 after mixed US inventory report
Import of crude oil increased 6.3% to 9.08 million barrels a day in the week ended February 19, the highest level since October, the Energy Department said last week.
April North Sea Brent crude oil on the ICE settled 70 cents lower, at $76.89 a barrel. More...

Mar-03-2009 -- Edmunds.com offers $1-million prize for Toyota fix
Edmunds.com, the auto information and pricing company, is launching a public competition to find the cause of and solution to the problem that has allegedly caused dozens of auto accident deaths and devastated the reputation of Toyota Motor Corp. You don't have to be an auto mechanic to enter.
Sales to consumers are expected to be little changed from a year ago." More...

Mar-03-2009 -- HK stocks down on HSBC; China eases as small-caps fall
The Hang Seng China Enterprises Index, which tracks the so-called H shares of Hong Kong-listed Chinese companies, rose 0.4 percent to 12,068.85.
As at the end of December 2009, profit it captured in the Mainland China market, including that from Industrial Bank and Yantai Bank, accounted for 13.3 percent of pre-tax profit it gained, compared to 11.9 percent in 2008. More...

Mar-03-2009 -- PCBs found in fish oil capsules, suit says
PCBs are industrial chemicals recognized for causing cancer and reproductive toxicity.
The capsules that tested highest for the 12 PCB compounds that have been shown to have the highest levels of toxicity were Now Foods Shark Liver Oil and Nature Made Cod Liver Oil, the study said. More...

Mar-03-2009 -- Summary Box: Hovnanian posts 1Q profit on tax gain
The capitalized interest amounts are shown gross before allocating any portion of impairments to capitalized interest.
The most directly comparable GAAP financial measure is Loss Before Income Taxes. More...

Mar-03-2009 -- Dow Chemical to Sell Styron Unit for $1.63 Billion
A press release from the two companies today noted Dow's option to receive up to 15 percent of Styron equity as part of the agreement, as well as long-term supply, service and purchase deals for Dow and Styron.
Dow's chief executive, Andrew N. Liveris, said in a statement that the Styron sale will help pay down the firm's debt, and that the company intended to sell more assets. More...

Mar-03-2009 -- Domino's Pizza names new directors Goldman, Trojan
The company reported a net income of $23.6m for the quarter, more than double the equivalent figure of $11m for the same period of 2008.
Domino'''s is the second-biggest U.S. pizza chain by sales next to Pizza Hut, according to food industry consultant Technomic, Inc. The same-store sales outlook is '''some much needed good news for the market,''' said Scott Brown, a livestock and dairy economist at the Food and Agricultural Policy Research Institute in Columbia, Mo. '''We must have some demand growth if we want milk prices to move higher and stay higher in 2010.''' More...

Mar-03-2009 -- Investment advisers say frugality will remain
Schwab leads the breakaway brokerage business with a network of some 6,000 independent advisers managing about $600 billion in assets.
More than half the investment advisers who participated in a Schwab Advisor Services survey in late January expect household saving to increase during the next six months. More...

Tuesday (Update 1)

Mar-02-2009 -- Astellas sues OSI to block "poison pill" plan
Astellas Pharma has made a hostile bid worth about $3.5 billion to acquire the OSI Pharmaceuticals which, if successful, would give it access to the U.S. firm'''s considerable royalties from the cancer blockbuster.
A successful bid for OSI would be the fourth-largest overseas acquisition by a Japanese drugmaker after deals in recent years by leader Takeda Pharmaceutical ( 4502.T ), third-ranked Daiichi Sankyo ( 4568.T ) and No.4 Eisai ( 4523.T ). More...

Mar-02-2009 -- EU clears 5 GMO crops, eyes proposal on cultivation
The Amflora potato designed by Germany´s chemical giant BASF, carries a controversial antibiotic resistant gene which it cannot be guaranteed will not enter the food chain, the activist group claimed.
Friends of the Earth said the Amflora potato "carries a controversial antibiotic resistant gene which it cannot be guaranteed will not enter the food chain." More...

Mar-02-2009 -- Domino's beats Street, helped by international sales
The Company's free cash flow, as reconciled below to cash flows from operations as determined under generally accepted accounting principles (GAAP), was $78.4 million in fiscal 2009.
ANN ARBOR, Mich. — Revamped pizza and a frank advertising campaign helped Domino's Pizza Inc. more than double its fourth-quarter profit as curious customers tried out its new recipe, the delivery chain said Tuesday. More...

Mar-02-2009 -- Investors fret over weakened financial reforms
Committee Chairman Christopher Dodd, a Connecticut Democrat, joined panel Republicans in seeking an alternative to the Obama proposal.
Dodd and Corker have been working for about two weeks to hammer out a comprehensive regulatory overhaul that would give the government broad new powers to monitor the financial system for signs of major risk and dismantle major firms in danger of failure to avoid future bailouts. More...

Mar-02-2009 -- Simon says General Growth has not shared any data
The deadline for creditors to vote on the plan would be Sept. 20, and Oct. 5 would be the deadline to win court approval of a Chapter 11 exit plan.
New York -- General Growth Properties Inc., bankrupt owner of more than 200 U.S. malls from Boston to Los Angeles, aims to confirm a reorganization plan by Oct. 5, after taking 60 days to consider proposals that compete with one from Brookfield Asset Management Inc. More...

Mar-02-2009 -- News Corp.'s Dow Jones to Buy Out SmartMoney Venture
March 2 (Bloomberg) -- News Corp.' s Dow Jones & Co. agreed to buy Hearst Corp.' s 50 percent stake in their SmartMoney joint venture to take complete ownership of the monthly personal finance magazine.
"SmartMoney is a trusted brand with high quality editorial and a clear focus on personal finance news and information. More...

Mar-02-2009 -- Boyd Gaming posts smaller 4Q loss on lower costs
Three Months Ended Year Ended December 31, December 31, 2009 2008 2009 2008 (In thousands) Gaming revenue $153,387 $169,796 $691,428 $734,306 Non-gaming revenue 68,508 72,722 299,173 310,157 Gross revenues 221,895 242,518 990,601 1,044,463 Less promotional allowances 46,487 59,035 213,193 213,974 Net revenues 175,408 183,483 777,408 830,489 Expenses 138,960 146,765 579,749 633,353 Depreciation and amortization 19,380 20,511 78,719 76,096 Preopening expenses - (282) 699 5,570 Write-downs and other items, net 10 9 (28,606) 162 Operating income 17,058 16,480 146,847 115,308 Interest expense, net (5,787) (8,171) (27,668) (29,049) State income tax (provision) benefit (359) 1,930 (10,938) (2,970) Total non-operating expenses (6,146) (6,241) (38,606) (32,019) Net income $10,912 $10,239 $108,241 $83,289 ======= ======= ======== ======= The following table reconciles our share of Borgata's financial results to the amounts reported on our condensed consolidated statements of operations.
Interest expense for the year ended December 31, 2009, includes $8.9 million of prior period interest expense (from the March 1, 2007 date of acquisition to December 31, 2008) related to the January 2009 amendment to the purchase agreement resulting in the finalization of our purchase price for Dania Jai-Alai, as well as $1.8 million in accelerated interest expense related to our bank credit facility amendment. (c) The following table reconciles the presentation of corporate expense on our condensed consolidated statements of operations to the presentation on the accompanying table. More...

Mar-02-2009 -- AIB Talks To Strategic Investor To Raise Capital
Achilleas Kallakis appeared at the City of London Magistrates Court charged with alleged property loans frauds against AIB worth 56m, and an alleged shipping loan fraud in relation to Bank of Scotland of around 5m.
The charges come after a Serious Fraud Office investigation. More...

Mar-02-2009 -- BP Focuses On Refining For $3B Profitability Boost
LONDON (SHARECAST) - Oil giant BP has unveiled a plan it says will reduce costs and increase production, boosting profitability by more than '3bn over the next two to three years.
Hayward said there were more opportunities to improve operating and cost efficiency right across the company, from refineries and marketing operations in the downstream to procurement, drilling and project management in the upstream. More...

Mar-02-2009 -- Codelco to Return to Full Output Today After Quake
Chile's copper industry escaped the quake "relatively unscathed," Tom Price, an analyst at UBS AG, said in a report yesterday.
El Teniente, the world's biggest underground copper mine, also remains closed. More...

Mar-02-2009 -- GM Europe's Reilly Optimistic Germany Will Approve Aid
'We are thinking about a small electric vehicle,' the chief of the General Motors unit, Nick Reilly, told Germany's Bild am Sonntag newspaper.
General Motors has agreed to provide '''1.9bn (US$2.6bn) in funding to the Opel/Vauxhall business, more than triple its original '''600m offering. More...

Mar-02-2009 -- CombinatoRx says FDA approves pain drug Exalgo
CombinatoRx Inc. today announced that the U.S. Food and Drug Administration approved its Exalgo drug for moderate to severe pain, triggering a $40 million milestone payment from Neuromed Pharmaceuticals Inc. The drug is designed for patients who need strong pain medication around the clock.
CombinatoRx's complex merger deal with Neuromed will pay off with a $40 million milestone earned with today's announcement that the FDA has approved Exalgo, a once-daily pain therapy. More...

Tuesday

Mar-02-2009 -- BAE Systems to pay $400M fine
Defense company BAE Systems PLC on Monday pleaded guilty in a U.S. District Court in the District of Columbia to charges related to foreign bribery, and was fined a hefty 400 million U.S. dollars, according to the Justice Department.
BAE Systems is ordered to pay one of the largest criminal fines ever levied in the United States against a company, a U.S. Justice official says. More...

Mar-02-2009 -- HK stocks end down 0.72 pct; HSBC dives, ICBC up
HONG KONG, March 2 (Reuters) - Hong Kong shares are set to open down 0.64 percent on Tuesday with selling triggered by disappointing HSBC ( 0005.HK ) earnings.
"Investors are likely to stay on the sidelines ahead of HSBC earnings which may trap the index in a narrow 100-point band," said Francis Lun, general manager from Fulbright Securities. More...

Mar-02-2009 -- Sands China 2009 Net Income Rises 22% on Macau Gambling Surge
HONG KONG (Reuters) - Sands China, the world's most valuable casino operator by market capitalization, said its 2009 net profit rose 22 percent from a year earlier, driven by a surge in gambling revenue in Macau.
On February 25, Wynn Macau reported a near doubling of fourth-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to $142 million, beating analysts' expectations. More...

Mar-02-2009 -- Geithner, Summers Leading Search for Successor to Fed's Kohn
In a letter to President Obama, Kohn said it was his "great privilege" to have been part of the U.S. central bank for more than 40 years.
The just-announced, surprise resignation of Federal Reserve vice-chairman Donald Kohn, a Greenspan protégé , will offer an early sign of just how committed (or not) President Obama is to the Fed's inflation-fighting mission. More...

Mar-02-2009 -- OIL FUTURES: Crude Steady Ahead Of US Oil Stocks Data
Oil prices are trading steady on Tuesday in Asia as the U.S. dollar made some gains amid European sovereign risk worries and the latest forecasts for rising U.S. crude oil inventories capped prices.
''The oil markets are very highly correlated to the equity markets now,'' said ANZ's Pervan. More...

Mar-02-2009 -- OSI Shares Soar After Astellas Hostile Bid
Astellas Pharma, a Japanese drug-maker, unveiled on Monday a $3.5 billion offer for OSI Pharmaceuticals, in what is its second unsolicited bid for a biotech company in as many years.
Astellas is offering $3.5 billion for the Melville, New York-based company that has developed the cancer drug Tarceva. More...

Mar-02-2009 -- Investment Banks Cut Compensation Ratios
Goldman Sachs Group (NYSE: GS) said that its board of directors has rejected a demand from shareholders to investigate the investment bank'''s '''excessive compensation''' packages and to attempt to recoup some of the awards given to executives.
In 2005, Goldman sold to the National Bank of Greece an '''interest rate swap,''' one of the notorious derivatives that have come under scrutiny since the Wall Street implosion of 2008. More...

Mar-02-2009 -- Madoff ruling hits Hub donor
The ruling today by U.S. Bankruptcy Judge Burton Lifland in New York determines how much money, if any, victims may get from the industry-financed Securities Investor Protection Corp., which must repay as much as $500,000 for each qualifying claim.
Here's the story from WSJ's Amir Efrati, and LB background here . More...

Mar-02-2009 -- Copper Falls as Supply Concern Eases After Chile Mines Reopen
March 1 (Bloomberg) -- Codelco said its Andina copper mine in Chile may resume partial production as soon as this afternoon, as rival Anglo American Plc also ramped up output at affected mines after the Feb. 27 earthquake.
Coming Up:Euro zone inflation 1000 GMT, U.S. Redbook 1355 GMT Updates prices, adds data due Tuesday) By Manolo Serapio Jr. MANILA, March 2 (Reuters) - Copper fell on Tuesday, after surging to five-week highs in the previous session, as concerns over supply from top producer Chile eased after the mines there reopened following a massive weekend earthquake. More...

Mar-02-2009 -- US consumer spending up again
Noting that the drop in disposable income weighed on the overall income figure, Peter Boockvar, equity strategist for Miller Tabak, said, "Thus, the savings rate should head higher again in the next few months as this tax impact looks one time."
A limit order does not guarantee your order will be executed -" however, it does guarantee you will not pay a higher price than you expected. More...

Mar-02-2009 -- Australia Raises Key Interest Rate to 4% on Recovery
The Reserve Bank of Australia (RBA) has lifted interest rates for the first time this year, with more increases expected in 2010 as economic growth gathers pace, economists say.
"Interest rate increases provide further bad news to first home buyers," Mr Phillips said. More...

Mar-02-2009 -- Times Co. jumps on takeover rumors
Billionaire Carlos Slim, who controls Mexico's biggest wireless and land-line phone companies, owns about 7 percent of New York Times's Class A shares.
Times Co. jumps on takeover rumors Boston Globe NEW YORK - The New York Times Co. shares rose as much as 11 percent and bullish options trading was the highest in seven weeks following speculation that the newspaper publisher may be acquired. More...

Monday (Update 1)

Mar-01-2009 -- Factbox: Chile copper mines, ports slowly recover from quake
SANTIAGO (Reuters) - A powerful earthquake that hit Chile on Saturday halted production at two oil refineries and two major mines in the world's top copper supplier, but exports of the metal will not be affected, officials said.
Codelco's 210,000 tonne per year Andina mine -- equivalent to less than 4 percent of the country's production, which accounts for about one-third of world supply -- restarted its operations, the state-owned company said Monday. More...

Mar-01-2009 -- Manufacturing slows in February
ISM'''s Production Index registered 58.4 percent in February, which is a decrease of 7.8 percentage points from the January reading of 66.2 percent (seasonally adjusted).
The ISM manufacturing employment index has been above the 50 mark for the last two months. More...

Mar-01-2009 -- Goldman Sachs won't investigate executive pay
Goldman Sachs Group (NYSE: GS) said that its board of directors has rejected a demand from shareholders to investigate the investment bank'''s '''excessive compensation''' packages and to attempt to recoup some of the awards given to executives.
Wall Street's dominant bank, criticized for paying billions of dollars in bonuses soon after the taxpayer bailout of the banking industry, reported the board's decision in a regulatory filing on Monday. More...

Mar-01-2009 -- Merck KGaA buys Millipore to stabilise business
The deal comes after fellow U.S. lab equipment maker Thermo Fischer Scientific was believed to have offered $6 billion and Merck'''s offer represents a premium of 13% over Friday's closing price for Millipore shares.
The firms announced the deal yesterday ''' several days after reports that Thermo Fisher Scientific had made a $6 billion bid for Millipore. More...

Mar-01-2009 -- Renault Plans to Double Production at Moscow Auto Plant
MOSCOW (Reuters) - French car maker Renault ( RENA.PA ) could adjust the size of its 25 percent stake in Russia's AvtoVAZ ( AVAZ.MM ) if asked by the Russian government, Chief Executive Carlos Ghosn said on Monday.
Renault is spending 150 million, or $202 million, to increase capacity at the plant, Carlos Ghosn, the Renault chief executive, and Yuri Luzhkov, the mayor of Moscow, said in Moscow. More...

Mar-01-2009 -- Dish Network 4Q Net Down 18%; EchoStar Loss Narrows
In the fourth quarter, Dish made $179 million in net income on revenues of $2.96 billion.
"Dish is price leader in a soft economy, so no doubt that helps in picking up subscribers," said Harrigan, who recommends selling the stock and doesn't own it. More...

Mar-01-2009 -- US Stocks Climb On Data, But UK Pound Weighs On Financials
NEW YORK (Dow Jones)--The U.S. stock market climbed on Monday, as U.S. economic data showed strength in manufacturing activity and improvements in consumer spending, but a slipping pound prompted nervous investors to retreat from financial stocks.
Forex Pros - U.S. stock markets rose on Monday in the wake of upbeat economic data on personal spending in the United States, and after insurer AIG said it would sell its life insurance unit in Asia. More...

Mar-01-2009 -- PepsiCo Completes Acquisition of 2 Biggest Bottlers
NEW YORK: Coke may have followed Pepsi's lead with a very similar bottler deal, but the world's top soft drink maker faces greater risk in its unexpected return to the logistics side of its business.
"Bottom line, there's been tremendous changes in the U.S. retail business. More...

Mar-01-2009 -- Skilling Seeks New Trial Without 'Tar and Feathers'
The SEC said that it decided to levy the seven-figure fine after taking into account, among other things, "the company's failure fully to comply with commission subpoenas on a timely basis." more.
According to the U.S. Securities and Exchange Commission, the Times explained, the funds broke a new law against shorting stocks just days before purchasing the same stocks in a public offering. More...

Mar-01-2009 -- Oil Prices Rise After Quake
The three new plants - Indian Oil Corp.' s Paradip refinery in eastern Orissa state, Hindustan Petroleum Corp.' s unit at Bhatinda in northern Punjab and Bharat Petroleum Corp.' s Bina plant in central Madhya Pradesh - will increase India's refining capacity of 178 million tons a year by almost 20 per cent by the end of 2012.
Crude oil rose for a second day on expectations that economic growth in the U.S., the world's largest energy consumer, and in the emerging markets of Asia will boost fuel demand. More...

Mar-01-2009 -- Radio broadcaster Regent files for Chapter 11
Regent Communications Inc. (RGCI), a Cincinnati radio broadcaster, filed for bankruptcy protection Monday with plans to slash its debt by $87 million and hand the majority of its new equity to hedge fund Oaktree Capital Management LP. The company said in a statement Monday that it made the move after reaching an agreement in principal with its lenders for a financial restructuring.
The restructuring process will have no impact on Regent's day-to-day operations and will not result in any changes to senior leadership. More...

Mar-01-2009 -- Dillard's turns $80M profit in Q4, from net loss in '08
Net Income - 13 Weeks Net income for the 13 weeks ended January 30, 2010 was $79.5 million, or $1.08 per share, compared to a net loss for the 13 weeks ended January 31, 2009 of $149.3 million, or $2.03 per share.
Shares of Dillard's are surging 14.4% to $19.30 in morning trading. -- Reported by Jeanine Poggi in New York. More...

Monday

Mar-01-2009 -- Lan, Chile Utilities to Slump, Construction to Gain After Quake
Lan, also based in the nation's capital Santiago, may fall as canceled flights hurt revenue, Conrads said.
The Chilean stock exchange is set to open on schedule today at 9:30 a.m. Santiago time (7:30 a.m. in New York) after the Feb. 27 earthquake killed more than 700 people, severed the country's main highway and damaged 1.5 million homes. More...

Mar-01-2009 -- Republicans want hearing on Fannie/Freddie bailout
'''The Administration is in the process of reviewing issues around longer term reform of the federal government's role in the housing market.'''
The maximum allowable size of the portfolios is $900 billion per institution. More...

Mar-01-2009 -- Berkshire Trumpets Its Rebound, With Caveats
Who wouldn't love to pick up the phone and ask Warren Buffett for advice? People have spent more than $1 million just to have lunch with the man.
NEW YORK: Describing him as a "superstar", Warren Buffett has reiterated his confidence in India-origin Ajit Jain ''' long rumoured to be the successor of the legendary investor at Berkshire Hathaway. More...

Mar-01-2009 -- PRECIOUS-Gold rises to 1-week high; strikes record in sterling
Silver added as much as 1.4 percent to $16.7075 an ounce, the highest price since Feb. 3, before trading at $16.6150.
More...

Mar-01-2009 -- Save some energy, and money, too
While Minnesota consumers can receive rebates of $200 for clothes washers, $150 for dishwashers, $50 for freezers, and $100 for refrigerators for the purchase of qualifying ENERGY STAR units, providing proof that a replaced refrigerator or freezer has been recycled earns an additional rebate of $50 for freezers and $100 for refrigerators.
How many Minnesota residents do you expect will get a rebate and how quickly will the money go? We're expecting the $5 million will provide more than 25,000 Minnesota households with a rebate. More...

Mar-01-2009 -- Former Enron CEO could see new trial
THE U.S. Supreme Court will begin reviewing the conviction of Enron boss Jeff Skilling on Monday in a move that could also lead to the release of Conrad Black, the jailed press baron.
Former Illinois governor Rod Blagojevich is now awaiting trial for corruption in Chicago and had been charged with a variety of breaches of the honest-services statute. More...

Mar-01-2009 -- Opening Roth IRA for grandchildren just isn't feasible
Until now, investors' attention has been focused on wealth accumulation for retirement.
Upper-income investors are taking advantage of a change in the tax law and rushing to convert their traditional individual retirement accounts or old 401(k) plans into Roth IRAs, according to an informal survey of investment companies. More...

Mar-01-2009 -- Sap's rising: Sweet money for maple syrup hobby
State inspectors can visit any sugar shack that sells syrup to test the product.
Mid-February to early March normally heralds the arrival of the "right" conditions, and the season runs until early April most years. More...

Mar-01-2009 -- Hong Kong stocks seen firmer, HSBC eyed
HSBC's bonus plans will be in sharp focus when the banking group reports full year figures on Monday.
HSBC also declined to comment last night on Mr Geoghegan's intentions or pay, or reports that the bank could pay more than £250m into the Government's bonus tax scheme, insisting it was a "personal issue". More...

Mar-01-2009 -- Stop & Shop and union talk again Tuesday
Stop & Shop Supermarket Co. issued a memo to unionized employees on Thursday saying it is pushing new contracts in which the Quincy company would increase its contribution to health care costs by more than 30 percent.
In total, Stop & Shop said it is willing to invest more than $140 million in additional funds to pay for the new three-year contracts for about 36,000 employees. More...

Mar-01-2009 -- Snow Hits February Car Sales
When results are released Tuesday, automotive research firm Edmunds.com predicts retail sales will increase 14.2 percent from a year earlier, while research firm TrueCar.com expects a nearly 9 percent bump.
I also like that any of us can question, ask why, and seek out answers if we perceive a wrong or an injustice. More...

Mar-01-2009 -- Breakthroughs and cash incentives for those that conserve or create new energy
In what situation might selling energy from your Bloom Box to the utility make sense? Only when your costs per kilowatt-hour ''' not per kilowatt ''' are less than what the utility charges you, now on average 11 cents per kwh in America.
A team of Silicon Valley based technocrats, led by an Indian, KR Sridhar launched an energy server on Tuesday, which they claimed could convert air and virtually any other fuel source into clean electricity. More...

Sunday (Update 1)

Feb-28-2009 -- AIG 'Not Out of the Woods'
American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008.
Feb. 26 (Bloomberg) -- American International Group Inc.' s payroll declined by 20,000 employees last year as the bailed-out company scaled back operations at money-losing businesses and sold profitable units. More...

Feb-28-2009 -- Lawmaker accuses Toyota of withholding evidence
As you know, the Committee on Oversight and Government Reform has been conducting an investigation into Toyota'''s handling of vehicle recalls arising from incidents of sudden unintended acceleration.''
Towns wrote to Toyota claiming the documents show " a systematic disregard for the law ". More...

Feb-28-2009 -- Fannie Posts $72 Billion Loss for '09
The cost of the dividends alone exceeds what Fannie has earned in most years, and will likely complicate efforts by Congress to overhaul the business model undone by the financial crisis.
Freddie reported $36.6bn of purchases and issuances for January. More...

Feb-28-2009 -- In China, Wal-Mart presses suppliers on labor, environmental standards
Retail giant Walmart is known for being a company which is ruthlessly efficient in a process when it puts its collective mind to it.
We know that we have an opportunity to do more and the capacity to do more." More...

Feb-28-2009 -- Housing sales drop; GDP revised upward
Resales of houses, townhouses, condominiums and cooperatives fell 7.2 percent to a seasonally adjusted annual rate of 5.05 million in January from December, the National Association of Realtors reported.
Across Florida, sales of existing single-family homes were up 28 percent in January compared to the year before, while the state median fell 14 percent to $130,900 during the same period, according to the Florida Association of Realtors. More...

Feb-28-2009 -- Financial reform compromise rebuffed in Senate
Feb. 28 (Bloomberg) -- Senate Banking Committee Chairman Christopher Dodd abandoned the Obama administration's stand- alone consumer financial agency and is proposing a bureau in the Treasury Department, seeking to overcome Republican opposition to legislation overhauling Wall Street regulations.
Republicans on the Senate Banking Committee oppose a measure to create a bureau of financial protection at the Treasury Department, a Senate Republican aide said on Saturday evening. More...

Feb-28-2009 -- Ask Kim: Use caution in closing credit cards
What you need to know to protect your money.
Consumers charged more than $2.1 trillion on 26.5 billion transactions in 2008. More...

Feb-28-2009 -- Opening Roth IRA for grandchildren just isn't feasible
Until now, investors' attention has been focused on wealth accumulation for retirement.
Upper-income investors are taking advantage of a change in the tax law and rushing to convert their traditional individual retirement accounts or old 401(k) plans into Roth IRAs, according to an informal survey of investment companies. More...

Feb-28-2009 -- U.S. is cast as villain in Japan
Lentz also apologized for a series of missteps that allowed the sudden-acceleration problem to go unchecked for years, ultimately leading Toyota to issue nearly 10 million recall notices and temporarily halt sales of eight models.
When results are released Tuesday, automotive research firm Edmunds.com predicts retail sales will increase 14.2 percent from a year earlier, while research firm TrueCar.com expects a nearly 9 percent bump. More...

Feb-28-2009 -- Census Scams: The Red Flags
Broadcast Media Group, located at 1012 North Jackson St., is producing the TV spots.
Soon you're going to get your 2010 census form in the mail. More...

Feb-28-2009 -- Greek deal puts Goldman Sachs in the firing line ''' again
Bernanke's response was to a question posed by Senate Banking chief Christopher Dodd, D-Conn., who asked about U.S. financial banks and hedge funds that are making financial bets that the Greek government will default on its loans.
Goldman, JPMorgan Chase and about a dozen other banks backed a company called Markit Group Ltd., which last fall created a popular CDS index. More...

Feb-28-2009 -- Dow Up 2.6% in Month, Best Since November
Overnight, U.S. stocks rebounded as Fed chairman Ben Bernanke soothed investor's fears that interest rates were going to rise anytime soon.
Greek bond yields rose and shares of National Bank of Greece ( NBG ) slid 3% on the debt fears. More...

Sunday

Feb-28-2009 -- AIG 'Not Out of the Woods'
American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008.
The third-quarter results included net realized capital losses of $1.80 billion and non-qualifying derivative hedging activities gains of $344 million. More...

Feb-28-2009 -- Greek deal puts Goldman Sachs in the firing line ''' again
Bernanke's response was to a question posed by Senate Banking chief Christopher Dodd, D-Conn., who asked about U.S. financial banks and hedge funds that are making financial bets that the Greek government will default on its loans.
Some analysts aren't convinced U.S. authorities are serious about stricter regulation. More...

Feb-28-2009 -- Natural-Gas Firms Increase Drilling Despite Price Drop
NEW YORK, Feb 26 (Reuters) - The number of rigs drilling for natural gas in the United States climbed by 12 this week to near a one-year high of 905, according to a report on Friday by oil services firm Baker Hughes in Houston.
Nabors said it retired rigs and rig components with a carrying value of $69 million last year. More...

Feb-28-2009 -- Ask Kim: Use caution in closing credit cards
What you need to know to protect your money.
Many users have discovered new interest rates, like I did and as Cantrell did, or fees, and some will discover new credit restrictions. More...

Feb-28-2009 -- Major Citigroup Shareholder Backs Management
NEW YORK — Citigroup Inc. CEO Vikram Pandit received $128,751 in compensation for 2009 as the bank suffered huge losses on risky investments and failing consumer loans, according to an Associated Press analysis of a regulatory filing disclosed Friday.
Mr. Pandit replaced Mr. Prince in 2007. More...

Feb-28-2009 -- Housing sales drop; GDP revised upward
Resales of houses, townhouses, condominiums and cooperatives fell 7.2 percent to a seasonally adjusted annual rate of 5.05 million in January from December, the National Association of Realtors reported.
Last month's sales pace was 5.05 million units for the year, the Realtors group said, meaning that many units would be sold if January's rate carried through for the rest of the year. More...

Feb-28-2009 -- Fannie Posts $72 Billion Loss for '09
Government-sponsored home mortgage finance company Fannie Mae (FNM: News ), Friday reported a loss for the fourth quarter that narrowed from last year on lower credit related expenses, impairments and fair value losses.
The government promised on behalf of U.S. taxpayer to absorb an unlimited amount of losses for the next three years at the time, and after that another $400 billion for three years after that. More...

Feb-28-2009 -- Below-normal water deliveries to Southern California still forecast
A series of strong winter storms that could mark the end of a three-year drought has left several feet of snow on the Sierra Nevada mountain range that serves as California's principal source of surface water.
Why is it that state politicians can'''t seem to understand that water is a necessity, and not a game? U.S. Senator Dianne Feinstein (D-California) recently decided to take up the clarion call of water for needy Central Valley farmers, in a proposal attached to the AgJOBS bill currently in the Senate. More...

Feb-28-2009 -- Finkelstein Thompson LLP Announces Investigation of CKE Restaurants Inc.
CARPINTERIA, Calif., Feb 26, 2010 (BUSINESS WIRE) -- CKE Restaurants, Inc. ("CKE"), owner of Carl's Jr. and Hardee's quick-service restaurant chains, and Thomas H. Lee Partners ("THL") today announced that they have entered into a definitive merger agreement under which THL will acquire CKE for approximately $928 million, including the assumption of approximately $309 million of net debt.
Private equity players already hold significant stakes in CKE rivals Wendy's/Arby's Group Inc ( WEN.N ).and Burger King Holdings Inc ( BKC.N ). More...

Feb-28-2009 -- Montag highest paid BofA executive in 2009
In 2008, Lewis received a $1.5 million salary and total compensation of $9.9 million.
Chief Financial Officer Howard Atkins will receive $1.7 million in 2010, down from $3.4 million last year. More...

Feb-28-2009 -- GDP Shines In Fog Of Recovery
WASHINGTON — The U.S. economy surged 5.9 percent in the fourth quarter, stronger than previously estimated, revised government data showed Friday in a report signaling positive momentum entering 2010.
Commerce Department officials said the jump in GDP was the result of a bigger-than-expected increase in business inventories and higher spending on equipment and software. More...

Feb-28-2009 -- Is Wal-Mart the new green giant? Its plan to cut emissions raises questions
Retail giant Walmart is known for being a company which is ruthlessly efficient in a process when it puts its collective mind to it.
Wal-Mart's supply chain is where the action is. More...