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


Friday


  • Sep-03-2009 -- White House considers pre-midterm package of business tax breaks to spur hiring
    WASHINGTON -(Dow Jones)- A White House economic aide Tuesday warned against a short-term extension of tax cuts for the wealthy, saying such a move would open the door to making those tax cuts permanent.
    Investing in clean energy, infrastructure, R&D: A good chunk of money from the 2009 stimulus package went to clean energy programs, infrastructure and research and development, with infrastructure investment alone making up more than $105 billion of the $787 billion total. More...

  • Sep-03-2009 -- Dollar Heads for Weekly Decline Against Euro, Yen Before Payrolls Report
    '''The euro zone economy has surprised to the upside, led by a robust recovery in Germany,''' Calvin Tse, a New York-based currency analyst at Morgan Stanley, wrote in a note yesterday.
    FRANKFURT Aug 31 (Reuters) - Gold and gold receivables held by euro zone central banks remained at 352 million euros in the week ending Aug 27, the European Central Bank said on Tuesday. More...

  • Sep-03-2009 -- PG&E's smart meters work fine, independent study says
    After Pacific Gas & Electric , the giant California utility, began installing smart meters in the state'''s Central Valley, the company was swamped with complaints from residents that their utility bills had increased.
    Michael Peevey, president of the utilities commission, hoped the report released Thursday would ease customer concerns. More...

  • Sep-03-2009 -- Hong Kong Stocks Little Changed; Developers Rise, Esprit Falls
    Hong Kong's Hang Seng Index.HSI closed up 1.2 on higher volume at 20,868.92, with car makers among the top gainers as investor confidence returned on the back of upbeat economic data from the United States and China.
    For statement click here - Sri Lanka has signed a $450 million deal with China Merchants Holdings (International) Co Ltd ( 0144.HK ) and local conglomerate Aitken Spence Plc SPEN.CM to boost the Colombo port's cargo-handling capacity, a official said on Tuesday. - Swedish carmaker Volvo Cars, owned by Chinese group Geely Automobile Holdings Ltd ( 0175.HK ), wants a bigger European Investment Bank loan than previously planned -- 600 million euros ($758 million) rather than 500 million. - China Pacific Insurance ( 2601.HK ) is planning to invest 5 billion yuan ($735.3 million) in Shanghai Rural Commercial Bank's (SRCB) private placement of shares, the Shanghai Securities News reported on Wednesday. More...

  • Sep-03-2009 -- Jumbo Borrowers See Better Rates, Too
    Mortgage rates hit another all-time record low this week.
    For instance, almost a quarter of renters said were postponing buying a home despite low mortgage rates. More...

  • Sep-03-2009 -- Time Warner Cable, Disney Reach a Deal
    The Disney/ABC Television Group and its Walt Disney Co. sibling ESPN finalized their retransmission consent and cable carriage deal with Time Warner Cable without any of the popular channels fading to black on the cable system.
    The deal also ensures Disney gets carriage of Disney Junior, the new 24-hour basic channel for preschoolers scheduled to launch in 2012. More...

  • Sep-03-2009 -- AOL-Google revenue-sharing pact includes mobile, online video services
    AOL said in July that it was considering "at least three" potential search partners, suggesting it may choose to partner with Microsoft for at least some of that technology.
    Under the new agreement, Google will continue to provide search services to AOL's content network, in exchange for revenue-sharing, although financial terms of the deal were not disclosed. More...

  • Sep-03-2009 -- Kia to recall 35000 cars in U.S., report says
    WASHINGTON -- Hyundai-Kia is recalling 35,185 vehicles, including 23,972 2010 Kia Soul vehicles and 11,213 2011 Kia Sorento vehicles for a possible fire hazard related to lighting, according to the National Highway Traffic Safety Administration.
    Kia says some of the wiring harnesses in the soul's front door trim panels and in the Sorrento's front and rear door trim panels may have been improperly sodered. More...

  • Sep-03-2009 -- ABM settles sexual harassment suit for $5.8 million
    A multi-million dollar settlement has been reached in a sexual harassment case involving a janitorial company with ties to the Central Valley.
    The suit alleged that male supervisors exposed themselves and engaged in unwelcome sexual touching and groping with female employees over numerous years. More...

  • Sep-03-2009 -- Video Game Maker Take-Two Reports an Unexpected Profit
    For the fourth quarter, Take-Two now sees non-GAAP earnings of 20 to 30 cents a share and revenue of between $270 million and $320 million.
    Take-Two has a $12.4 million third quarter profit -- its second profitable quarter in a row -- to show analysts who've raised questions about the publisher's earnings stability amid high costs and long, long development cycles. More...

  • Sep-03-2009 -- Murdoch: Global economy is still not out of turmoil
    The parent company of Fox News shares a financial backer with the imam who is at the center of the firestorm.
    Roger Ailes, boss of News Corp's Fox News TV network in the U.S., took home $13.2m. More...

  • Sep-03-2009 -- Finisar 2Q profit drops after network tools sale
    The increase in inventory was due in part to expected revenue growth in the second quarter.
    The Sunnyvale, California-based company's income from continuing operations for the first quarter was $19.41 million or $0.24 per share, compared to a loss of $11.12 million or $0.18 per share in the previous year. More...

Thursday


  • Sep-02-2009 -- BP begins removing cap from Gulf well
    In the months since the explosion of the Deepwater Horizon, BP has spent a whopping $93 million on advertising.
    During the April-July 2010 period, BP ran local newspaper advertisements in 126 markets in 17 states, including the states directly impacted by the oil spill. More...

  • Sep-02-2009 -- Pending Sales of Existing Homes Unexpectedly Increase in July
    The Pending Home Sales Index for contracts signed in July rose 5.2 percent from June, according to the National Association of Realtors.
    Economists forecast the Labor Department will report tomorrow that the U.S. lost 100,000 jobs in August and the unemployment rate rose to 9.6 percent. More...

  • Sep-02-2009 -- AOL signs new search agreement with Google
    NEW YORK -(Dow Jones)- Google Inc. (GOOG) and AOL Inc. (AOL) agreed to extend their search partnership for five years and expanded their pact into mobile search and online video--two areas in which growth expectations are high as the media business transitions to digital communications.
    Google and AOL have agreed to stay search partners for the next five years. More...

  • Sep-02-2009 -- US Retailers Depended on Discounts in August
    BANGALORE (Reuters) - Costco Wholesale Corp ( COST.O ), the largest U.S. warehouse club operator, reported a 7 percent rise in August sales at stores open at least a year, aided by surge in gasoline prices and foreign currency gains.
    The company said on Thursday that the revenue at stores that were opened at least a year increased to 7 percent in August which was definitely buoyed by higher prices in gas prices as well as improved international revenue. More...

  • Sep-02-2009 -- Orexigen soars on Takeda deal; drug indexes rise
    Orexigen will continue to shoulder the development costs prior to the FDA approval of Contrave, but if cleared for sale, the company will have an option to co-promote the treatment in the U.S. The news sent Orexigen shares up more than 25 percent at the opening bell of trading.
    Under the terms of the deal, Takeda has obtained an exclusive license from Orexigen to market the combination drug of bupropion/naltrexone (Contrave) in the U.S., Canada, and Mexico. More...

  • Sep-02-2009 -- The Cisco/Itron Alliance - Game Changer or Buzzword Bingo?
    Networking giant Cisco and smart meter specialist Itron announced yesterday that they have joined forces to deliver an IP-based communications platform to the smart grid market.
    Our company is the world's leading provider of smart metering, data collection and utility software systems, with nearly 8,000 utilities worldwide relying on our technology to optimize the delivery and use of energy and water. More...

  • Sep-02-2009 -- Pernod Has Spirits, And Strong Growth Story
    Analysts had been expecting profits of 983 million euros.
    Organic net sales for the top 14 led companywide performance, increasing 4 percent, while volume rose 2 percent. More...

  • Sep-02-2009 -- 30-Year Mortgage Rate: 4.32%
    Mortgage rates hit another all-time record low this week.
    Mortgage planner, First Place Bank, Holland, Mich. A continuing weak employment outlook and struggling stock market have interest rates holding at their all-time low levels currently. More...

  • Sep-02-2009 -- Communities Key in Foreclosure Fight: Fed Officials
    A more "holistic" approach to foreclosures and vacant properties, along with more flexible, community-focused state and federal assistance, could be needed if hard-hit communities are to get back on their feet, Federal Reserve Bank of Boston President Eric Rosengren said Thursday.
    Federal and state policy makers should take a broader approach to the foreclosure crisis, not only adopting measures to prevent foreclosures and stabilize housing, but also providing aid to help the hardest hit communities address underlying social and economic issues, said Eric Rosengren, president of the Federal Reserve Bank of Boston. More...

  • Sep-02-2009 -- Avis raises cash portion of Dollar Thrifty bid
    Avis Budget Group Inc., in Parsippany, said Thursday it increased the cash portion of its offer to acquire Dollar Thrifty Automotive Group Inc. from $39.25 per share to $40.75 per share.
    The bid also includes 0.6543 shares of Avis Budget Group Inc. stock. More...

  • Sep-02-2009 -- Orders to US Factories Increased Less Than Forecast in July
    New orders for manufactured durable goods in July, up following two consecutive monthly decreases, increased $0.7 billion or 0.4 percent to $193.0 billion, revised from the previously published 0.3 percent increase.
    The report showed that orders for manufactured goods edged up by 0.1 percent in July following a revised 0.6 percent decrease in June. More...

  • Sep-02-2009 -- Bernanke Meets Buffett in Role Conceived to Protect Markets
    "Moving around the interest rate on long term bonds by 10 or 20 or 30 basis points is not going to solve the unemployment problems and it is dangerous to think that it will," Plosser said.
    The Fed gains authority over about 440 thrift holding companies and will also regulate '''systemically important''' nonbank financial firms, including, analysts say, the biggest insurance companies, Warren Buffett '''s Berkshire Hathaway Inc. and General Electric Capital Corp., the financial unit of GE. The Fed is now required to look for evidence that practices in the banking system threaten the country'''s financial stability and, if necessary, take action to put a stop to those practices. More...

Thursday


  • Sep-02-2009 -- Asian shares rise after big gains on Wall Street
    Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rise 0.3 to 0.7 percent, pointing to a firmer start on Wall Street on Wednesday.
    Fleet sales are propping up the market. More...

  • Sep-02-2009 -- IMF warns over UK debt in call for global fiscal reform
    Asking Germany to pick up the tab again is a bit rich given that the Croke Park deal on public service reform is only a set of headline aspirations while apart from change at the Central Bank, most other sectors are reform-free zones.
    However that probability falls to an even 50-50 if the amount of new borrowing were to exceed fifty percent of GDP - or about $7 trillion given the current, $14 trillion size of the U.S. economy. More...

  • Sep-02-2009 -- China Railway, HSBC, Lumena, PetroChina, Xinao: Hong Kong Equity Preview
    Net income rose to 9.61 billion yuan ($1.4 billion), or 1.3 yuan a share, from a restated 7.48 billion yuan, or 1.02 yuan, a year earlier, the Shenzhen-based company said in a Hong Kong stock exchange filing today, citing International Financial Reporting Standards."
    For statement click here - Sri Lanka has signed a $450 million deal with China Merchants Holdings (International) Co Ltd ( 0144.HK ) and local conglomerate Aitken Spence Plc SPEN.CM to boost the Colombo port's cargo-handling capacity, a official said on Tuesday. - Swedish carmaker Volvo Cars, owned by Chinese group Geely Automobile Holdings Ltd ( 0175.HK ), wants a bigger European Investment Bank loan than previously planned -- 600 million euros ($758 million) rather than 500 million. - China Pacific Insurance ( 2601.HK ) is planning to invest 5 billion yuan ($735.3 million) in Shanghai Rural Commercial Bank's (SRCB) private placement of shares, the Shanghai Securities News reported on Wednesday. More...

  • Sep-02-2009 -- US manufacturing grows again in August for 13th straight month
    Strong overseas gains and pleasing data from abroad inspired buyers to return to the fold after an extended absence in recent weeks.
    Manufacturing continued to grow in August as the PMI registered 56.3 percent, an increase of 0.8 percentage point when compared to July'''s reading of 55.5 percent. More...

  • Sep-02-2009 -- Aussie Dollar Falls on Trade Data; Kiwi Near Two-Week High on Milk Prices
    NEW YORK, Sept 1 (Reuters) - The U.S. dollar and yen fell broadly on Wednesday after upbeat data around the world soothed worries about the health of the global economy, boosting investors' appetite for riskier assets.
    ''If it comes in near expectations or even a little bit softer it'll probably confirm the U.S. outlook is not as bad as people were previously expecting and you'd expect to see firmness for the Australian dollar in the not too distant future.'' More...

  • Sep-02-2009 -- 2 settle SEC insider-trading charges
    Another day, another set of insider trading charges this time revolving around two buddies accused of illicitly trading in MedImmune.
    Goldfield made more than 30 trades in the weeks leading up to AstraZeneca'''s April 23, 2007, announcement that it would buy MedImmune for $58 per share. More...

  • Sep-02-2009 -- India mandates servers it can access
    New Delhi, September 1 The government today made it clear that not just the BlackBerry but all communication companies operating in the country, will have to set up their computer servers within India and also allow security agencies access to the flow of data, voice and SMSes through their networks.
    India has instructed Google and Skype to allow its government to monitor their customer data or face being banned from operating in the world's second-most populated nation, according to a new report. More...

  • Sep-02-2009 -- Brazil, Petrobras Reach $42.5 Billion Oil Deal
    The move could help Petrobras solve a persistent quandary of the transaction -- ensuring it raises enough cash if Brazil's government insists on a price per barrel in the oil swap that private investors see as too high and therefore dilutive.
    The MSCI Latin American stocks index.MILA00000PUS added 1.39 percent on Tuesday, rebounding from a drop of 1.78 percent the previous session. More...

  • Sep-02-2009 -- Delta Upbeat on Japan Business Amid Strong Yen
    Delta is upbeat about its business in Japan as new routes and the surging yen boost travel and help along the recovery in the industry, a top executive said Thursday.
    TOKYO, Sept 2 (Reuters) - Traffic on Delta Air Lines Inc ( DAL.N ) flights in August was very strong, partly because a firm yen boosted travel in Asia, its president said on Thursday. More...

  • Sep-02-2009 -- Comair plans to pare fleet, cut jobs
    CINCINNATI Comair, a regional airline owned by Delta Air Lines Inc., will shrink its fleet by more than half and reduce staff over the next two years to cut costs.
    The world's largest airline by revenue will drop smaller 50-seat planes from the Comair unit in a bid to restore profitability. More...

  • Sep-02-2009 -- Treasury May Sell Fewest 3-, 10- and 30-Year Debt in 14 Months
    The minutes underscored investors' concerns that the U.S. recovery is faltering -- worries that are burnishing the appeal of lower-risk government debt.
    One of the more striking revelations we heard in the past week, courtesy of a Bloomberg.com article, was that "Investors poured $480.2 billion into mutual funds that focus on debt in the two years ending in June, compared with the $496.9 billion received by equity funds from 1999 to 2000." More...

  • Sep-02-2009 -- Jeep leading the way
    Chrysler Group is the only major auto manufacturer to post a year-over-year sales increase in August.
    The Jeep Wrangler, America's famous mud-slinger, will come with a fresh new interior design that boasts a range of comfort and convenience upgrades when it goes on sale in New Zealand early next year. More...

Wednesday


  • Sep-01-2009 -- July construction spending tumbles to 10-year low
    The Commerce Department said construction spending dropped 1.0 percent to an annual rate of $805.2 billion, the lowest since July 2000.
    Your submitted market order cannot be changed or cancelled once the stock begins trading. More...

  • Sep-01-2009 -- Heinz looks to emerging markets for growth
    The H.J. Heinz Co. Wednesday morning reported first quarter net income of $248.6 million, or 75 cents per share, compared to net income of $219 million, or 67 cents, in the same period a year earlier.
    The figure compares with a 73-cent average of analysts' estimates compiled by Bloomberg. More...

  • Sep-01-2009 -- Allergan to Pay $600 Million to Settle Charges Related to Botox
    Allergan has agreed to plead guilty to a single misdemeanor "misbranding" charge covering the period 2000 through 2005 and pay to the Government $375 million.
    The $225 civil settlement involves lawsuits filed by five people who will receive $37.8 million from that amount. More...

  • Sep-01-2009 -- Global manufacturing PMI sags as new orders growth slows
    While that figure still suggests healthy growth, any figure above 50 indicates expansion, it is the lowest reading since November and was well below forecasts.
    August data suggested that manufacturing output may ease further in the coming months, as the new orders-to-inventory ratio fell to a 17-month low. More...

  • Sep-01-2009 -- Borders Posts Wider Loss
    ANN ARBOR, Mich. — Borders Group Inc. reported a slightly larger loss in the second quarter on lower revenue and said it will add more items besides books in its stores to boost revenue.
    Mike Edwards, CEO of Borders said, "While we continue to succeed in strengthening our financial structure, we are highly focused on driving profitable sales and increasing market share, Based on extensive consumer research, we are doing a number of things to excite our customers going into the critical holiday shopping season, including launching our new Borders Rewards program, which includes the new paid Borders Rewards Plus. More...

  • Sep-01-2009 -- A look at the 2011 Hyundai Sonata
    "Opening investigations after very small numbers of complaints or reports."
    Federal safety regulators have opened an investigation into reports of steering problems in the hot-selling 2011 Hyundai Sonata sedan. More...

  • Sep-01-2009 -- Wheat pushes world food prices up
    The FAO has revised downward its forecast for 2010 world wheat production levels and reports that wheat market dynamics drove international food prices up in August by 5 per cent - the biggest month-on-month increase since November 2009.
    Wheat, the staple food of the rural poor in Pakistan, is due to be planted in September through to November, and wheat farmers were in the process of preparing land for planting when the floods began, the Rome-based FAO said. More...

  • Sep-01-2009 -- American Physicians, Dendreon, Joy Global, Rowan, Saks: US Equity Movers
    The Company reported that, for the three months ended July 31, 2010, net sales increased by 39% to $189.0 million from $135.9 million in the second quarter last year.
    The analysts were expecting the company to report a loss of $0.02 per share. More...

  • Sep-01-2009 -- GM Sales Fall 25% as Unemployment Wards Off Consumers
    Fleet sales, especially to rental-car companies, have helped prop up the market as individual customers stay away, said Sophia Koropeckyj, managing director of Moody's Analytics.
    Automobile sales in the United States during August registered the slowest pace for the month in 28 years as discount sales failed to attract customers anxious about the gloomy economic forecast and looming job losses. More...

  • Sep-01-2009 -- Brown-Forman 1st-quarter profit falls
    Continuing our trends of the prior two quarters, we posted good underlying growth in sales and gross profit.
    Net sales were $744.9 million, up 1% from $737.9 million in the prior-year quarter. More...

  • Sep-01-2009 -- Facebook Working Hard To Avoid Google's Fate (GOOG)
    Given how Google's profit increases have ground to a halt in recent months, Facebook has begun to aggressively expand its Credits payment system.
    Americans will spend more than $1.6 billion in 2010 on virtual goods and social gaming, according to Target, citing a figure from Inside Network. More...

  • Sep-01-2009 -- Gold Prices Pull Back
    In line with the precious metals industry stocks, New Gold ( NGD ) and Hecla Mining ( HL ) also increased 13.3% and 10.9% respectively.
    Holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, rose nearly 4 tonnes on Tuesday as buyers were attracted to the perceived safety of physical bullion. More...

Wednesday


  • Sep-01-2009 -- More division at Fed than the vote suggests
    The channels through which the Fed's purchases affect longer-term interest rates and financial conditions more generally have been subject to debate.
    In that speech, Mr Bernanke, considered two other unconventional options besides buying debt: committing to keep rates at zero for a longer period of time, and paying zero interest on banks excess reserves with the Fed. He indicated that both options were problematic, but could be employed if the economy worsens further. More...

  • Sep-01-2009 -- Nikkei edges up after 16-mth low, China PMI a boost
    TOKYO, Sept 1 (Reuters) - Japan's Nikkei average edged up 0.5 percent on Wednesday, getting a bit of a boost from a rise in China's purchasing managers index, while technology shares crawled higher in reaction to a sharp fall the day before.
    ADP private employers data is due out later on Wednesday, with non-farm payrolls on Friday. More...

  • Sep-01-2009 -- Commerce takes a pass on China currency
    Extruded, or molded, aluminum is widely used in the automobile and constructions industries, including in door and window frames.
    The AFL-CIO is''disappointed''the U.S. Department of Commerce today rejected arguments that China's undervalued currency acts as an export subsidy.'' More...

  • Sep-01-2009 -- US consumer confidence index -45 in latest week-ABC
    RISING CONFIDENCE: The Conference Board's Consumer Confidence Index rose to 53.5 in August, slightly better than economists' forecasts.
    U.S. shares had been sliding steadily since disappointing personal income data for July was announced on Monday morning. More...

  • Sep-01-2009 -- New York Is Trying Again to Tax Indians' Cigarette Sales
    CATTARAUGUS TERRITORY, IRVING, N.Y., Aug. 31 /PRNewswire/ -- Federal Western District Court Judge Richard J. Arcara late today granted the Seneca Nation of Indians request for a Temporary Restraining Order (TRO) which blocks New York State from initiating collection of taxes on Native American-sold tobacco products on Sept. 1.
    The Senecas say, a 2009 court order blocking the state from taxing cigarette sales to non-Indian customers should remain in place. More...

  • Sep-01-2009 -- Reports of steering problems in 2011 Hyundai Sonata prompt NHTSA investigation
    According to a statement on the NHTSA website , The Office of Defects Investigation (ODI) is aware of EWR field reports on certain model year 2011 Hyundai Sonata vehicles that allege either a separation of the intermediate steering shaft assembly upper universal joint resulting in a complete loss of steering capability and/or a cross-threaded pinch bolt that caused stripped out threads and loosening, but not complete separation, of the upper universal joint connection.
    The investigation was opened because of field reports alleging a couple of potentially serious issues with the steering assembly: either a complete separation of a joint in the steering-shaft assembly (potentially causing a complete loss of steering, says the action report), or a cross-threaded pinch bolt that could cause loosening in the mechanism. More...

  • Sep-01-2009 -- China Strategic disappointed at AIG unit sale outcome
    TAIPEI, Aug 30 (Reuters) - A former Taiwanese diplomat who says he wants to "save" American International Group's ( AIG.N ) Taiwan unit from being bought by a Chinese firm is lining up a $2.5 billion bid with Japanese and Middle Eastern money.
    The Taiwan decision throws a wrench into one of A.I.G.''' s major disposals just months after the failure of its agreement to sell American International Assurance, another Asian life insurance unit, to Prudential of Britain. More...

  • Sep-01-2009 -- Answers sought in child deaths
    SB 39, passed in 2008, was passed to broaden disclosure of information related to the death of children.
    Michael Gennaco, chief attorney for the Office of Independent Review, told the Board of Supervisors that the deaths may not have been classified or reported as required under a 2008 state law. More...

  • Sep-01-2009 -- MySpace extends search ad deal with Google
    The social networking site of News Corp. (NASDAQ:NWSA) has extended the ad contact, people familiar with the company said.
    MySpace, owned by News Corp. and based in Beverly Hills, has held talks with Microsoft Corp., Yahoo Inc. and Google to replace the contract, people familiar with the talks said in July. More...

  • Sep-01-2009 -- China Resources Land, Galaxy, Huadian: Hong Kong Equity Preview
    Net income rose to 9.61 billion yuan ($1.4 billion), or 1.3 yuan a share, from a restated 7.48 billion yuan, or 1.02 yuan, a year earlier, the Shenzhen-based company said in a Hong Kong stock exchange filing today, citing International Financial Reporting Standards."
    Shun Tak Holdings Ltd. retreated 4.7 percent after the ferry operator and property developer reported lower profit. More...

  • Sep-01-2009 -- Saks, Monsanto, Lions Gate are big movers
    Lions Gate shares climbed to a new 52-week high of $7.40 today, and are up almost 13% in midday trading to around $7.30.
    The first was struck down by a court order and Icahn said in a statement that "Canada's corporate governance e regime is excellent." More...

  • Sep-01-2009 -- Tax Cuts Weighed to Spur Economy
    The way to reduce deficits is to cut federal spending and leave the Bush tax rates in place to generate additional government revenue.
    Jobs and growth'''not punishing the rich'''are what Americans are interested in, and what we should be talking about. More...

Tuesday


  • Aug-31-2009 -- Treasurys Modestly Higher Amid Month-End Buying
    NEW YORK, Aug 30 (Reuters) - U.S. Treasury debt prices rose on Monday as the market recouped some of Friday's sharp losses, when Federal Reserve Chairman Ben Bernanke signaled the U.S. central bank was not on the verge of a new round of bond buying.
    The herd-like flight to safety in Treasuries has been precipitated by a slate of data revealing a weakening in economic activity that has fostered concerns about a double-dip recession and the specter of deflation hitting the U.S. economy. More...

  • Aug-31-2009 -- Stock Lower on Global Recovery Concerns
    NEW YORK — Stocks are edging lower in early trading as investors remain nervous about the economy.
    Hewlett-Packard, the only Dow stock to close in the red on Friday's rally, was the lone member of the index to finish up on Monday. More...

  • Aug-31-2009 -- Exelon To Acquire Deere's Wind Energy Unit For $900M
    As part of the acquisition, the Chicago-based utility and generation firm also has the opportunity to pursue 230 megawatts of wind projects in advanced stages of development, as well as a large portfolio of projects in earlier stages of development, the company said.
    Exelon said the acquisition is valued at about $860 million with a provision for up to an additional $40 million upon commencement of construction on advanced development projects. More...

  • Aug-31-2009 -- AIG's Nan Shan sale derailed by Taiwan, China tension
    TAIPEI, Aug 30 (Reuters) - A former Taiwanese diplomat who says he wants to "save" American International Group's ( AIG.N ) Taiwan unit from being bought by a Chinese firm is lining up a $2.5 billion bid with Japanese and Middle Eastern money.
    A group of Taiwanese businessmen in Shanghai jointly urged the government last week to allow local hospitals as well as banks to set up branches in China for their convenience as well as their welfare. More...

  • Aug-31-2009 -- Staples to Start Selling Amazon's Kindle This Fall
    The announcement Tuesday follows the device's debut at Target Corp. stores in June.
    All should be available at the $139, $189 and $379 prices Amazon normally charges itself. More...

  • Aug-31-2009 -- Former HP CEO Hurd to Depart News Corp. Board
    The Wall Street Journal' s Shira Ovide reports that former Hewlett-Packard CEO Mark Hurd will lose his seat on News Corp.' s board after the meeting on October 15.
    News Corp., controlled by Chairman and CEO Rupert Murdoch, fell 5 cents to $12.31 yesterday in Nasdaq Stock Market trading. More...

  • Aug-31-2009 -- 3M to Buy People-Tracking Firm
    The company said in a statement today that it has entered into a definitive agreement to acquire Attenti Holdings from an investor group led by Francisco Partners, for a purchase price of USD 230 million in cash.
    Attenti expects sales for 2010 to be approximately $100 million. More...

  • Aug-31-2009 -- Monsanto Expects 2010 Earnings At Low End Of Prior View
    As the company`s fiscal year draws to a close, agricultural product provider Monsanto Company (NYSE: MON) has said that it is on track to conclude the year within its previous guidance ranges for ongoing earnings per share (EPS) and free cash flow, as drivers for its fourth quarter operating plan have performed according to management expectations.
    About 150 of the jobs being eliminated are in St. Louis, spokewoman Kelli Powers said. More...

  • Aug-31-2009 -- Gartner Cuts PC Sales Forecast
    Worldwide PC shipments are set to top 367 million this year, according to a new report.
    The emergence of media tablets is a growing threat to that niche." More...

  • Aug-31-2009 -- Wooing 3PAR
    NEW YORK (Reuters) - Dell Inc ( DELL.O ) is widely expected to bow out of a bidding war with Hewlett-Packard Co ( HPQ.N ) for data storage company 3PAR Inc ( PAR.N ) because of the increased price tag.
    HP shares climbed 56 cents, or 1.5%, to $38.56 in trading Monday. More...

  • Aug-31-2009 -- US HOT STOCKS: Saks, Lions Gate, Alimera, Winn-Dixie, Mediacom
    Winn-Dixie Stores, Inc. (NASDAQ:WINN) Citigroup today maintains its recommendation to "buy" on the title of U.S. food retailer in Jacksonville, Florida, Winn-Dixie, but lowered its price target from $16 to $11.
    '''For the first eight weeks of fiscal 2011, the adjustments we have made have enabled us to generate a sequential improvement in identical store sales of approximately 200 basis points. More...

  • Aug-31-2009 -- OIL FUTURES: Nymex Crude Falls; Economic Data Ahead
    Brent crude oil prices will exceed $100 a barrel by 2012 as global economic growth rebounds next year fueling an increase in energy demand, said Nordea Bank AB, the Nordic region'''s largest bank.
    SINGAPORE (Reuters) - Oil stayed near an eight-day high above $75 on Monday as sustained momentum from Federal Reserve Chairman Ben Bernanke's speech last week boosted Asian stock markets. More...

Tuesday


  • Aug-31-2009 -- Genzyme Touts Value Of MS Drug, But View May Be Optimistic
    In the letter, Termeer states that Sanofi's latest unsolicited buyout offer of $69 per share in cash the same as the original offer Genzyme received from Sanofi in July.
    The central bank's move, which disappointed investors and analysts hoping for bolder action, was followed hours later by Prime Minister Naoto Kan's plans for a new economic stimulus package worth $10.9 billion. More...

  • Aug-31-2009 -- Corn Drops From 14-Month High as US Crop Remains Unchanged
    Soybeans eased on pressure from a weak cash market and harvest in the U.S. Delta.
    Heavy rain in Germany, meanwhile, was bringing the prospect of a poor crop in the European Union's No. 2 wheat producer and pushed prices in the German cash market to a 28-month high. More...

  • Aug-31-2009 -- Moody's Rates Australian Property Trusts `Stable' on Debt Cuts, Recovery
    Late last month, Chambers helped knock Spain down to AA, a '''bold''' move, defying Moody'''s and Fitch'''s AAA rating on Spanish debt.
    Moody'''s, Standard and Poor'''s and Fitch Ratings''' major offices surround the lowest tip of Manhattan eerily, Moody'''s to the west, S&P at east and Fitch at the southernmost point of the island.) More...

  • Aug-31-2009 -- The Man Behind the "Ground Zero" Mosque
    In an exclusive interview with Fox News, Ndir says that El-Gamal had been assisting with real estate and fundraising advice for the Harlem Mosque proposal.
    El-Gamal's company didn't pay its tax bills in January or July, the New York Post reports. More...

  • Aug-31-2009 -- Stocks drop as investors enter week cautiously
    NEW YORK (AP) - Stock futures are trading in a narrow range as investors are cautious entering a week that provides the latest report on the jobs market.
    The tech-rich Nasdaq composite index shed 33.66 points (1.56 per cent) to 2,119.97 as daily trade volume remained low. More...

  • Aug-31-2009 -- Incidents at Mosque in Tennessee Spread Fear
    Bredesen, who attended the annual Southern Governors Conference in Birmingham over the weekend, said he'''s not aware of the details of the incident in Tennessee'''s sixth largest city, which is still under investigation.
    Claire Rogers, spokeswoman for Middle Tennesseans for Religious Freedom, said the organization has planned a candlelight vigil in front of the Rutherford County Courthouse on Monday in response to the fire. More...

  • Aug-31-2009 -- Hon Hai, Foxconn International Shares Tumble After Earnings Miss Estimates
    The unit of Taiwan electronics giant Hon Hai ( 2317.TW ) has struggled with a wave of labour unrest in China, where increasingly assertive migrant workers are calling for better conditions and higher pay.
    'Foxconn International Holdings - the world's largest contract manufacturer of mobile phones - saw its first half loss increase to US$142.6 million compared with a loss of US$18.7 million a year ago. More...

  • Aug-31-2009 -- Haines: In Tax Cut Debate, It's Bad Versus Worse
    The way to reduce deficits is to cut federal spending and leave the Bush tax rates in place to generate additional government revenue.
    Congress could just increase the debt limit from $13 trillion to $14 trillion, bypass bonds altogether, and without interest issue treasury notes (currency). More...

  • Aug-31-2009 -- HP to pay $55m in US fraud case
    WASHINGTON (Reuters) - Hewlett-Packard Co ( HPQ.N ) has agreed to pay $55 million to settle kickback allegations related to federal government contracts, the U.S. Justice Department said on Monday.
    Under the U.S. False Claims Act, private citizens can file lawsuits for fraud on behalf of the U.S. government and share in the recovery of funds. More...

  • Aug-31-2009 -- Activists seek ban on mountaintop removal mining
    EPA Administrator Lisa Jackson has said the goal is a standard so strict that few, if any, permits would be issued for valley fills.
    In a statement issued to The Associated Press, the EPA said that it has significantly strengthened and improved protections for the public by reducing the environmental and water quality impacts of coal mining. More...

  • Aug-31-2009 -- Gasoline prices fall ahead of Labor Day weekend
    There is good news at the gas pump, as Americans get ready to fill their cars, RVs and boats for the Labor Day weekend.
    Last week's announcement of an increase in unemployment claims, as well as dwindling optimism that gasoline demand will grow, helped lead to the decline. More...

  • Aug-31-2009 -- Why Skype is perfect for Cisco
    During the beta period for Connect, Skype said more than 2,400 customers worldwide had signed up for the service.
    With Google now offering inexpensive phone service, Cisco may be the ally Skype needs. More...

Monday


  • Aug-30-2009 -- HP Board Authorizes $10 Billion for Share Buybacks
    HP said it plans to use the share buyback authorization to manage share dilution from employee stock plans and to buy back shares opportunistically.
    I have made deals where we started off with a strategic alliance and two years into the agreement, we ended up buying the firm, uncontested of course. More...

  • Aug-30-2009 -- Stocks dip as investors enter week cautiously
    NEW YORK (AP) - Stock futures are trading in a narrow range as investors are cautious entering a week that provides the latest report on the jobs market.
    Dan Burrows is a senior writer for DailyFinance. More...

  • Aug-30-2009 -- NABE Economists Say Promote Growth Now, Fix Deficit Later
    WASHINGTON (MNI) - The majority of top U.S. economic forecasters believe that the greater risks facing the nation's economy are deflation in the near-term and inflation in the longer-term, according to a survey by the National Association for Business Economics released Monday.
    Sixty-two percent opposed expiration of the capital gains income-tax cuts, with 22 percent favoring partial or complete expiration only for the higher tax brackets. More...

  • Aug-30-2009 -- Bankers Say Recovery Likely to Stay on Track
    U.S. Federal Reserve Chairman Bernanke reaffirmed Fed's commitment to "do what it takes" to support an economic recovery but stopped short of committing the U.S. central bank to another round of quantitative easing by agreeing to purchase more fixed income securities for its balance sheet.
    At an annual Federal Reserve retreat, angst, not panic, was the order of the day among officials and economists chastened by a deep recession and a disappointing rebound. More...

  • Aug-30-2009 -- BP probe blames its workers for Gulf blowout, report says
    The American adverts feature BP employees, mostly involved in the clean-up process, explaining what the company is doing to restore the areas affected.
    If passed, the Senate bill would improve offshore drilling management and crisis response and finally guarantee funding for the Land and Water Conservation Fund " an important tool for preserving and restoring habitat for Gulf wildlife and other animals. More...

  • Aug-30-2009 -- Treasurys Rise As Concerns About Global Economic Recovery Continue
    Treasury 30-year bonds fell for a second day as Asian stocks gained and economists said a government report will show personal spending, which accounts for 70 percent of the U.S. economy, increased last month.
    Treasuries fell for a second day as Asian stocks gained and economists said a government report will show Americans last month increased personal spending, which accounts for 70 percent of the economy. More...

  • Aug-30-2009 -- Global Semiconductor Sales Grew in July, SIA Says
    Global sales of semiconductors grew 37 percent year-over-year in July to $25.2 billion as demand continued even as overall economic growth slowed, the Semiconductor Industry Association said Monday.
    More...

  • Aug-30-2009 -- Crude Oil Falls as Dollar Strengthens, Economic Outlook Remains a Concern
    Brent crude oil prices will exceed $100 a barrel by 2012 as global economic growth rebounds next year fueling an increase in energy demand, said Nordea Bank AB, the Nordic region'''s largest bank.
    Benchmark crude for October delivery was down 21 cents at $74.96 a barrel at late Monday afternoon Singapore time in electronic trading on the New York Mercantile Exchange. More...

  • Aug-30-2009 -- European shares end little changed; drugmakers up
    Shares of French aeronautical supplier Zodiac Aerospace surged 14% in early trading Monday on a report that the board of local rival Safran will decide in the coming days on whether to make a bid for the company.
    The e-commerce software developer said revenue from software sales rose to 3.1 million euros ($3.9 million) from almost 2 million in the year- earlier period. More...

  • Aug-30-2009 -- Cisco seeking to acquire Skype: TechCrunch
    Rumors abound that Cisco Systems Inc. (NASDAQ: CSCO ) plans to make an offer to acquire Skype in an effort to short-circuit Skype's planned IPO. Ebay, Inc. (NASDAQ: EBAY ) sold 70% of Skype to a group of private investors led by Silver Lake Partners in November 2009 after the auction site couldn't figure out a way to make money with the VoIP service.
    A company in lock-down during the IPO process is usually even more tight-lipped than normal. More...

  • Aug-30-2009 -- Schwab To Buy ETF-Heavy Firm Windward For $150M In Stock, Cash
    Schwab experienced a 38% increase in ETF usage among clients from June 2009 to June 2010.
    The firm was founded in 1994 by Stephen J. Cucchiaro, whose research in nonlinear dynamic systems and portfolio management theory dates back more than 30 years to groundbreaking work while a student at the Massachusetts Institute of Technology and The University of Pennsylvania's Wharton School of Business. More...

  • Aug-30-2009 -- Ceragon gets new Indian orders, shares jump
    PARAMUS, New Jersey, August 30, 2010 /PRNewswire-FirstCall/ -- Ceragon Networks Ltd. (NASDAQ: CRNT ), the provider of high-capacity, 4G/LTE-Ready wireless backhaul networks, today announced that it has received new orders for its advanced FibeAir(R) platforms from a leading Indian operator.
    The company did not disclose financial details of the orders or the name of the Indian customer. More...

Monday


  • Aug-30-2009 -- US birth rate falls for second year in midst of recession
    According to data provided by the National Center for Health Statistics an estimated 4,136,000 babies were born in the United States in 2009, which was down 2.6 per cent over 2008.
    Health officials said Friday that the economy may be causing some women to think twice about having children as the birth rate in 2009 declined for the second year in a row. More...

  • Aug-30-2009 -- Disney, Time Warner Cable Make Progress in Carriage Talks
    NEW YORK — Walt Disney Co. and Time Warner Cable Inc. said Sunday that they have made "significant progress" in resolving their issues over programming fees with less than a week left to renew a pact that feeds TV channels like ESPN into American households.
    The cable TV companies have resisted, saying higher fees will get passed along to customers in the form of bigger cable bills. More...

  • Aug-30-2009 -- Social Security reform: Slow growth, don't cut benefits
    In 1950, the worker-to-beneficiary ratio was 16.5-to-1.
    Most people of retirement age are perfectly able to offer much in the way of skills, insights and guidance to the workforce. More...

  • Aug-30-2009 -- 16 Arrested in Mall Brawl at Aventura
    Officers corraled the crowd in a parking lot near the Cheesecake Factory and Bloomingdale's, where the brawl continued.
    A dozen more juveniles were arrested. More...

  • Aug-30-2009 -- US Gasoline Falls to $2.6979 a Gallon as Crude Declines, Lundberg Says
    The national average for regular grade gas declined to $2.6979 per gallon, down 7.43 cents compared with the price two weeks ago, said the nationwide Lundberg survey on Sunday.
    Survey publisher Trilby Lundberg said gas prices were catching up to a decrease in crude prices. More...

  • Aug-30-2009 -- Cat killings prompt warning
    Edmonton cat owners are being warned to keep their cats inside after a spate of cat killings.
    Parascandola said floors and other surfaces in the house were soiled with cat urine and feces. More...

  • Aug-30-2009 -- BP Internal Report Indicates Engineers Misread Well Tests (BP)
    A BP drilling engineer said Friday he doesn't believe a much-scrutinized decision about the Macondo well's cement job posed a threat to the safety of the crew aboard the Deepwater Horizon rig.
    Bly'''s team began conducting interviews and reviewing internal documents just days after the Macondo well erupted about 40 miles (64 kilometers) off the Louisiana coast in the Gulf of Mexico. More...

  • Aug-30-2009 -- Marcellus Shale Gas Boom: Energy, Cash and Jobs, Jobs, Jobs
    East Resources has just been sold to Dutch Royal Shell for $4.7 billion and Exxon-Mobil just purchased XTO Energy for $46 billion, Rendell said.
    Gas drilling via a process called hydraulic fracturing has been the subject of controversy nationwide, as well. More...

  • Aug-30-2009 -- Bank of America Launches A$ 3-Year Benchmark Issue
    Aug 28, (THAINDIAN NEWS) In a recent development that has made sensation in the banking sector of the USA the ex CEO of Bank Of America Kenneth Lewis, and ex CFO Joe Price have vehemently denied the lawsuit allegation filed against them.
    Shares of Bank of America traded at $33.74 just before the Merrill merger, but fell as low as $2.53 in February 2009, little more than five months later. More...

  • Aug-30-2009 -- Mosque big owes 224G tax
    In an exclusive interview with Fox News, Ndir says that El-Gamal had been assisting with real estate and fundraising advice for the Harlem Mosque proposal.
    A Muslim congregation has given $10-thousand to a developer planning to build a mosque in New York City. More...

  • Aug-30-2009 -- BHP will consider selling off nitrogen and phosphate if it wins Potash Corp.
    Chief Financial Officer Alex Vanselow, speaking in an Australian television interview, also said the hostile bid had been timed to ensure more ready access to credit markets.
    Why? Simple BHP is betting potash will be a key element in the world's need to feed an extra 57 million mouths every year from now through 2050. More...

  • Aug-30-2009 -- Local DA Orders Audit Of All Local Criminal Cases Dependent On SBI Lab Results
    The N.C. Conference of District Attorneys called for the audit, saying it expects every case involving the State Bureau of Investigation to be scrutinized until auditors review the agency'''s lab.
    More than that, eliminating the death penalty entirely - as 14 states and the District of Columbia have done - will save further time and money and remove any whiff of a chance that an unfairly convicted person could be put to death. More...

Sunday


  • Aug-29-2009 -- Aeromexico Offers Support for Stranded Passengers
    "In the face of the serious deterioration of the company's finances and given the impossibility of reaching agreements to ensure the future viability of the company's operations, we have been forced to temporarily and indefinitely suspend operations," a recording played on the company's Mexico City contact number declared.
    "When we arrived we were advised there were no flights more," passenger Carlos Galeana said. More...

  • Aug-29-2009 -- Louisiana Hit Hard By Moratorium on Deepwater Drilling
    The Obama administration's moratorium on deepwater drilling in the Gulf of Mexico is not the only obstacle facing the oil and gas industry, according to experts.
    Few in positions of power in Washington paid close attention to the Minerals Management Service and the hard-to-understand world it was charged with regulating. More...

  • Aug-29-2009 -- Paul Allen sues Apple, Google, Facebook, others over Web patents
    August 27, 2010: Paul Allen, who co-founded Microsoft Corp. but left the company years ago, has sued Google, Apple, Yahoo, AOL, eBay, Facebook, and other companies, alleging infringement of various patents that, the Wall Street Journal reports, "appear to be key components of the operations of the companies, and that of e-commerce and Internet search companies in general."
    Interval Licensing is alleging that the firms - which also include AOL, eBay, Netflix, Office Depot, OfficeMax, Staples and YouTube, have violated patents related to search, multimedia, screen pop-upd and database management. More...

  • Aug-29-2009 -- Imports lead to sharp downward revision to GDP
    After an unusual four straight quarters of negative growth in the severe 2008-2009 recession, the recession ended in the September quarter of last year when GDP managed fragile growth of 1.6% for the quarter, and then improved to 5.0% growth in the December quarter.
    "So returning to Republican economic policies is the solution for building new jobs and Recession recovery?"How can they be any worse than Obama's policies? The economy was better when Bush left than it is now,the GDP numbers(AFTER Biden and Obama claimed that the recession was over) today clearly show that we are headed into ANOTHER recession; a recession totally caused by Obama and Geitner's moronic policies that have destroyed confidence and have stopped what ever recovery was occuring.If Obama had done NOTHING the recession would be over by now. More...

  • Aug-29-2009 -- SEC Wants Securitization Made Easy
    The SEC charged New Jersey with securities fraud for misrepresenting and failing to disclose to investors in more than $26 billion of municipal bond offerings that it was underfunding the state's two largest pension plans.
    There's no fine, and no accountability on the part of any individuals." More...

  • Aug-29-2009 -- DOJ signs off on United-Continental merger
    The approval lifts the biggest regulatory hurdle to the creation of the world'''s top airline, the story states.
    The proposed merger would combine the airlines' largely complementary networks, which would result in overlap on a limited number of routes where United and Continental offer competing nonstop service. More...

  • Aug-29-2009 -- Dow Regains 10000 Despite Weak GDP, Dour Bernanke
    Bernanke is set to address the economic situation later Friday morning in a speech at the Fed's annual Economic Policy Symposium in Jackson Hole, Wyo., a high-level gathering of central bankers, finance ministers, academics and industry executives from around the world.
    Treasury prices and yields move in opposite directions. More...

  • Aug-29-2009 -- Islamic Center Also Challenges a Young Builder
    In an exclusive interview with Fox News, Ndir says that El-Gamal had been assisting with real estate and fundraising advice for the Harlem Mosque proposal.
    A Muslim congregation has given $10-thousand to a developer planning to build a mosque in New York City. More...

  • Aug-29-2009 -- Intel lowers Q3 revenue forecast
    The company, one of Ireland's biggest multi-national employers, dominates the market for PC microprocessors.
    Despite the weaker outlook for the quarter, shares of Intel are up 22 cents to $18.42 in midday market movement on Friday. More...

  • Aug-29-2009 -- Reinhart's Seven More Years of High Unemployment Hit Fed Today
    Carmen Reinhart and Vincent Reinhart, in a paper presented at an annual conference hosted by the Federal Reserve, found that growth in gross domestic product is significantly lower during the decade after a severe financial crisis that is felt world-wide, as was the case with the recent meltdown.
    The paper finds that in most cases, as job creation remains a central focus of the economic recovery, the jobless rate takes a protracted amount of time to recover.'' More...

  • Aug-29-2009 -- 2000 attend meat industry hearings with Vilsack at CSU
    Thousands of ranchers and livestock industry officials are expected to attend a public workshop today at Colorado State University's Lory Student Center to discuss the future of the U.S. cattle industry.
    Since the workshops began, the Obama administration has proposed a new antitrust measure for meat companies that reflects a willingness by the USDA to shift the balance of power between farmers and processors. More...

  • Aug-29-2009 -- China's monster traffic jam rears its head again
    The traffic jam built up on the Beijing-Tibet highway, on a section that links the capital to the Chinese region of Inner Mongolia.
    Another jam in the same area earlier this month lasted nine days and stretched more than 60 miles. More...

Sunday


  • Aug-29-2009 -- Imports lead to sharp downward revision to GDP
    After an unusual four straight quarters of negative growth in the severe 2008-2009 recession, the recession ended in the September quarter of last year when GDP managed fragile growth of 1.6% for the quarter, and then improved to 5.0% growth in the December quarter.
    "Overall, on the face of it, the UK economy's performance in (the second quarter) was robust and notably outstripped the eurozone as a whole and the United States," said Charles Davis, economist at the Centre for Economics and Business Research. More...

  • Aug-29-2009 -- Japan Official: Japan Conveys Hope For More Flexible Yuan In Talks With China
    The Bank of Japan is considering holding an extraordinary policy meeting early next week to discuss further monetary easing that would help stem the yen's recent sharp rise, sources close to the matter said Saturday.
    According to IMF's recent World Economic Outlook the main risk in the near-term is an escalation of financial stress prompted by rising concern over sovereign risk leading to higher funding costs and weaker bank balance-sheets that can ultimately affect global demand. More...

  • Aug-29-2009 -- Wright Homes Go Begging
    Why on earth are Frank Lloyd Wright's La Miniatura and Ennis House s rotting away (sometimes literally) on the market? Hey, good question LA Times .
    "We've had many people look at the house who own other Frank Lloyd Wright houses. More...

  • Aug-29-2009 -- Colleges no longer a boon for credit card firms
    Nowhere is the effect of bad credit so apparent as when a job application is rejected due to bad credit, resulting in yet more financial problems.
    Plenty of people could be affected, as card interest rates have risen across the board over the past couple of years. More...

  • Aug-29-2009 -- State Dept. contractor charged in leak to news organization
    WASHINGTON Aug 27 (Reuters) - A foreign policy analyst who worked at the U.S. State Department has been charged with leaking a top-secret intelligence report to a news reporter last year, the Justice Department said on Friday.
    WASHINGTON — The Obama administration on Friday accused an analyst who worked at the State Department of leaking top secret information about North Korea to a reporter. More...

  • Aug-29-2009 -- Who Killed the Video Store?
    Blockbuster executives and its senior debt holders held meetings in Los Angeles last week with six major movie studios to enter a "pre-planned" bankruptcy in mid-September, the Los Angeles Times reported.
    Blockbuster CEO Jim Keyes held meetings with studio heads in LA last week as a continued supply of movies is key for the Dallas-based company. More...

  • Aug-29-2009 -- Tiffany Drops as Second-Quarter Sales Fall Short of Estimates
    Sales at the New York flagship store rose 8%.
    The high estimate calls for profit of $0.56 a share and the low estimate is calling for a profit of $0.49 a share, a year ago for the quarter the company reported $0.39 a share. More...

  • Aug-29-2009 -- Fannie Mae and Freddie Mac's Future
    Investors should bet the 5.5 percent debt will offer better returns, according to the New York-based Credit Suisse analysts.
    The dot-com boom generated an amazing amount of wealth (at least on paper) and investors big and small flocked into exchanges like NASDAQ. When the dot-com boom went bust, there was a capital flight out of the entire tech sector, as well as out of a large number of other equity markets. More...

  • Aug-29-2009 -- Boeing removes exec in charge of delayed 747-8 freighter
    Pat Shanahan, vice president and general manager of Airplane Programs at Boeing Commercial Airplanes, is taking more-direct control over the 747 program, he announced in a letter to employees Friday afternoon.
    Pat Shanahan takes over 747-8 freighter program and promotes Elizabeth Lund to deputy program manager. More...

  • Aug-29-2009 -- OTB Executive Offers Turnaround Plan
    The labor concessions must be made by Aug. 31 in order to avoid liquidation of NYCOTB and to get out of bankruptcy without having to cut workers' wagers, Rayburn reportedly said in a conference call.
    "We can't do that," Rayburn said. More...

  • Aug-29-2009 -- Intel lowers Q3 revenue forecast
    The company, one of Ireland's biggest multi-national employers, dominates the market for PC microprocessors.
    Despite the weaker outlook for the quarter, shares of Intel are up 22 cents to $18.42 in midday market movement on Friday. More...

  • Aug-29-2009 -- Ford Recalls 463000 Windstar Minivans on Axle-Fracture Risk
    The United States auto manufacturing giant, Ford Motors, is recalling 575,000 vehicles in the U.S. and Canada over corrosion concerns, a report says.
    The NHTSA says the problem is due to the design of the axle, which allows salt to accumulate, causing it to rust. More...





Saturday


  • Aug-28-2009 -- US Births Decline; Economy to Blame?
    New statistics from the National Center for Health Statistics finds more than 4.1 million babies were born in the U-S last year, down 2.6-percent from births in 2008.
    An estimated 340,000 of the 4.3 million babies born in the United States in 2008 were the offspring of unauthorized immigrants, according to a new analysis of Census Bureau data by the Pew Hispanic Center. More...

  • Aug-28-2009 -- Intel lowers Q3 revenue forecast
    The company, one of Ireland's biggest multi-national employers, dominates the market for PC microprocessors.
    Despite the slightly gloomy news, Intel shares have bounced back, adding 1.21 percent to $18.40 on just shy of 60m shares at 5pm. More...

  • Aug-28-2009 -- Japan Official: Japan Conveys Hope For More Flexible Yuan In Talks With China
    The Bank of Japan is considering holding an extraordinary policy meeting early next week to discuss further monetary easing that would help stem the yen's recent sharp rise, sources close to the matter said Saturday.
    '''Actions by the Bank of Japan unilaterally probably wouldn'''t change sentiment over the medium term,''' said John McCarthy, director of currency trading at ING Groep NV in New York. More...

  • Aug-28-2009 -- Fannie Mae and Freddie Mac's Future
    Investors should bet the 5.5 percent debt will offer better returns, according to the New York-based Credit Suisse analysts.
    Legally, tax assessments have priority over a home mortgage, but the payments on a PACE assessment would be insignificant compared to the mortgage as a whole if the home goes into default, proponents say. More...

  • Aug-28-2009 -- Ford Recalls 463000 Windstar Minivans on Axle-Fracture Risk
    The United States auto manufacturing giant, Ford Motors, is recalling 575,000 vehicles in the U.S. and Canada over corrosion concerns, a report says.
    Axle breaks have occurred in only a small number of cases, Ford said. More...

  • Aug-28-2009 -- Panel to Congress: Make tax time easier
    WASHINGTON A panel of White House economic advisers headed by former Federal Reserve chairman Paul Volcker issued its long-awaited report on tax reform yesterday, submitting to President Obama 126 pages of options for improving enforcement, lowering the corporate tax rate, and simplifying the eye-wateringly complex code for average families.
    The report did not specifically weigh in on the hotly debated tax cuts enacted under former President George W. Bush on all income groups that are set to expire at year end. More...

  • Aug-28-2009 -- Treasury Two-Year Yields Increase Most Since April After Bernanke Speech
    NEW YORK — Interest rates are fluctuating in the bond market, keeping rates near their lowest levels in more than a year.
    At today'''s five-year note auction, the securities drew a record low yield of 1.374 percent, yet higher than the average forecast of 1.363 percent in a Bloomberg News survey of 6 of the Fed'''s 18 primary dealers. More...

  • Aug-28-2009 -- Who Killed the Video Store?
    Blockbuster executives and its senior debt holders held meetings in Los Angeles last week with six major movie studios to enter a "pre-planned" bankruptcy in mid-September, the Los Angeles Times reported.
    Just over six months ago, Blockbuster'''s chief rival, Movie Gallery ''' who only a few short years ago purchased the ailing Hollywood Video ''' filed for bankruptcy; now it is Big Blue'''s turn. More...

  • Aug-28-2009 -- Regulators Ask Google for ITA Data
    In a blog post on Friday, Google said it had received a '''second request''' for information about the ITA acquisition from the regulators, signalling the start of an in-depth inquiry.
    Opponents and proponents of the $750 million deal likely already have been communicating with the DOJ about any anticompetitive concerns and would continue to do during the review period. More...

  • Aug-28-2009 -- BP Seeks to Retrieve Failed Blowout Preventer
    BP definitely plans to remove at least two smaller, cut pieces of pipe, but the status of a third, longer piece of drill pipe is unclear -- and that will affect how crews proceed, Allen said.
    We have no further information and cannot tell the condition of the pipe below the blowout preventer. More...

  • Aug-28-2009 -- Anti-HER2 Drug Fails to Win FDA Fast Track
    A phase II study reported in December 2009 had shown the drug shrinks breast cancer tumors in a third of women who had failed other drugs, forming the basis for a new drug application that was filed in July.
    Trastuzumab's job is to bind to the HER2-positive cancer cells and is believed to block out-of-control signals that make the cancer grow while also calling on the body's immune system to attack the cells. More...

  • Aug-28-2009 -- Tiffany Drops as Second-Quarter Sales Fall Short of Estimates
    Sales at the New York flagship store rose 8%.
    The high estimate calls for profit of $0.56 a share and the low estimate is calling for a profit of $0.49 a share, a year ago for the quarter the company reported $0.39 a share. More...

Saturday


  • Aug-28-2009 -- Who Killed the Video Store?
    Blockbuster executives and its senior debt holders held meetings in Los Angeles last week with six major movie studios to enter a "pre-planned" bankruptcy in mid-September, the Los Angeles Times reported.
    Especially when your parents were too tired from work to go to the theater. More...

  • Aug-28-2009 -- Sluggish Economy Leads Intel to Cut 3rd-Quarter Guidance
    Tim Luke, Barclays Capital : "We view the revised guide as broadly in line with out recent checks in Asia and already modest investor expectations," he writes.
    "The first stage is when a semiconductor company lowers revenue estimates but doesn'''t lower utilization rates or spending and does not acknowledge the downturn. More...

  • Aug-28-2009 -- US analyst charged with leak to news reporter
    WASHINGTON — The Obama administration on Friday accused an analyst who worked at the State Department of leaking top secret information about North Korea to a reporter.
    Kim, 43, an employee of a federal contractor on detail to the State Department, has written previously about U.S. -Korean relations. More...

  • Aug-28-2009 -- Recession Babies Wane as US Births Decline for Second Year
    The birth rate, which takes into account changes in the population, fell to 13.5 births for every 1,000 people last year.
    The drop follows a 2 percent fall in births that occurred between 2007 and 2008 , which pushed the nation's fertility rate below 2.1 per woman, meaning Americans were no longer giving birth to enough children to keep the population from declining. More...

  • Aug-28-2009 -- The Freddie, Fannie Autopsy
    Most home loans written by banks today are backed by the wrecked mortgage agencies Fannie Mae ( FNMA.OB ) and Freddie Mac ( FMCC.OB ), which would have exploded in 2008 without a federal takeover that could ultimately cost taxpayers $300 billion.
    The House Financial Services Committee plans to hold hearings on housing finance starting next month and Treasury Secretary Timothy F. Geithner has promised to deliver a comprehensive overhaul proposal by early next year. More...

  • Aug-28-2009 -- Economic panel offers Obama options on tax reform
    WASHINGTON A panel of White House economic advisers headed by former Federal Reserve chairman Paul Volcker issued its long-awaited report on tax reform yesterday, submitting to President Obama 126 pages of options for improving enforcement, lowering the corporate tax rate, and simplifying the eye-wateringly complex code for average families.
    The report did not specifically weigh in on the hotly debated tax cuts enacted under former President George W. Bush on all income groups that are set to expire at year end. More...

  • Aug-28-2009 -- Mortgage modifications offer a bit of good news in the dour foreclosure market
    Aug. 27--For the first time since 2006, fewer Connecticut homeowners were more than three months behind in their mortgage payments or in foreclosure in the second quarter -- a welcome sign amid a recent spate of discouraging reports about the housing market.
    Florida was at 3.12 percent last quarter. More...

  • Aug-28-2009 -- The 1.6% Recovery
    Last fall the economy grew at a reasonable 5 percent annual rate, though even that was not particularly fast for a "recovery."
    We estimate that, without the government'''s response, GDP in 2010 would be about 11.5% lower, payroll employment would be less by some 8'' million jobs, and the nation would now be experiencing deflation.''' More...

  • Aug-28-2009 -- BP to Push Ahead on Replacing Blowout Preventer
    BP definitely plans to remove at least two smaller, cut pieces of pipe, but the status of a third, longer piece of drill pipe is unclear -- and that will affect how crews proceed, Allen said.
    If it can'''t be lifted off with this '''gentle tug,''' Allen said, operators will have to disassemble piece by piece the ram devices atop the device to get it out, a process that could delay the removal. More...

  • Aug-28-2009 -- Ford Recalls 575000 Windstar Vans in US, Canada
    The voluntary recall affects 1998 to 2003 model-year Windstars in areas where road salt is used in cold weather, according to a notice today on the U.S. National Highway Traffic Safety Administration'''s website .
    A total 462,750 1998-2003 Ford Windstar minivans will be recalled in the United States along with 113,000 units in Canada. More...

  • Aug-28-2009 -- The Price of Wheat
    A ban on Russian wheat exports and a bout of bad weather in Canada has sparked wild swings in the wheat price and fuelled fears of higher food prices.
    Even at the latest peak, global wheat prices remain well below the average March 2008 level of $440 per tonne, suggesting scope for further rally in prices. More...

  • Aug-28-2009 -- Google faces probe over bid for ITA
    In a blog post on Friday, Google said it had received a '''second request''' for information about the ITA acquisition from the regulators, signalling the start of an in-depth inquiry.
    Opponents and proponents of the $750 million deal likely already have been communicating with the DOJ about any anticompetitive concerns and would continue to do during the review period. More...

Friday


  • Aug-27-2009 -- Intel warns amid global PC slowdown
    Initially, the company predicted sales of $11.2 and $12.0 billion but now it expects revenue to be $11 billion, plus or minus $200 million.
    The company previously projected third-quarter revenue between $11.2 billion and $12 billion. More...

  • Aug-27-2009 -- Tiffany Shares Decline as Second-Quarter Sales Fall Short of Projections
    Sales at the New York flagship store rose 8%.
    Excluding certain special items, net earnings for the quarter from continuing operations grew 45% to $70.07 million from $48.38 million in the prior year. More...

  • Aug-27-2009 -- Blockbuster Bankruptcy Weeks Away?
    It probably won't come us a surprise to many that Blockbuster , once the market leader in home video rentals, is preparing to file for bankruptcy.
    To conserve cash, Blockbuster apparently seeks to use the bankruptcy to unload roughly 500 to 800 lease contracts, which would lead to even more store closures on top of the 1,000 sites it closed last year, the Times noted. More...

  • Aug-27-2009 -- Bernanke Opens His Toolbox for All to See
    Some asserted that the action was merely technical.
    The $14.5 trillion U.S. economic powerhouse islosing power-and fast-according to Mr. El-Erian. More...

  • Aug-27-2009 -- US, Other Nations May See Slow-Growth Decade, Reinharts Say
    Carmen Reinhart and Vincent Reinhart, in a paper presented at an annual conference hosted by the Federal Reserve, found that growth in gross domestic product is significantly lower during the decade after a severe financial crisis that is felt world-wide, as was the case with the recent meltdown.
    One lesson of the crisis and its aftermath is that the Fed should maintain more of an inflation "buffer" against the zero interest rate bound, write Carmen and Vincent Reinhart in a paper prepared for presentation to the symposium on "Macroeconomic Challenges: The Decade Ahead," which includes Fed Chairman Ben Bernanke and most members of the Fed's policymaking Federal Open Market Committee. More...

  • Aug-27-2009 -- PRECIOUS METALS: Gold Futures Pull Back After Bernanke Speech
    Gold fell in New York on concern that an economic slowdown will erode demand for commodities, including precious metals.
    " does not really want to go much below the $1,200 level," says David Morgan, founder of Silver-Investor.com. More...

  • Aug-27-2009 -- US Michigan Consumer Sentiment Index Rose in August From Eight-Month Low
    The Thomson Reuters/University of Michigan final index of consumer sentiment climbed to 68.9 from 67.8 in July that was the lowest reading since November.
    More vigorous GDP growth with adequate job creation will be needed for consumer sentiment to make a sustained climb. More...

  • Aug-27-2009 -- Intesa Sanpaolo 2Q Net Up On Asset Sale Gains
    Italian bank Intesa Sanpaolo said Friday its second quarter profit doubled to one billion euros (1.27 billion dollars), boosted by the sale of its securities services business.
    The bank booked trading losses of euro3 million, compared with earnings of euro439 million in the same period. More...

  • Aug-27-2009 -- China's AgBank H1 profit up 40 pct on lending surge
    Chinese banks avoided the mortgage-related turmoil that battered Western institutions but industry analysts say the abrupt surge in stimulus-related lending could lead to a rise in bad loans if poorly conceived projects default.
    The state controls the 18 largest banks which, according to the 2009 data, have total assets of 58.6 trillion yuan, constituting 73% of China's bank assets. More...

  • Aug-27-2009 -- Johnson & Johnson Unit Recalls Hip Replacement Devices - Update
    Johnson & Johnson's unit DePuy Orthopaedics declared recalling two hip replacement implants, as they didn't prove effective and many of the patients treated with them needed a second hip replacement.
    Problems associated with the device include loosening parts, infections, fractures, dislocation, sensitivity to the metal and pain. More...

  • Aug-27-2009 -- Almost 80, Warren Buffett Shows No Sign of Slowing
    Shares of Wesco ( WSC ) are up $47.26, or 15%, at $372, after Berkshire Hathaway ( BRKB ) said it would purchase the 20% of the the property and casualty insurer it does not already own.
    Warren Buffett is the primary share-holder, chairman and CEO of Berkshire Hathaway, a holding company based in Nebraska. More...

  • Aug-27-2009 -- Charles River implements accelerated stock buyback
    Under the ASR program entered into with Morgan Stanley & Co. Incorporated, the Company will receive an initial delivery of 6.0 million shares.
    Charles River Labs said it will pay for the buyback using cash on hand and "available liquidity," which includes a new $750 million credit agreement. More...

  • Aug-27-2009 -- Happy 80th birthday, Warren Buffett
    Shares of Wesco ( WSC ) are up $47.26, or 15%, at $372, after Berkshire Hathaway ( BRKB ) said it would purchase the 20% of the the property and casualty insurer it does not already own.
    If we hitch our star to an optimist, let's find one who doesn't make many mistakes. More...

  • Aug-27-2009 -- Intel closing in on deal with Infineon, reports say
    A week ago, the company agreed to acquire McAfee , an antivirus software maker, for $7.68 billion.
    Intel has been tossing around a lot of cash lately to adjust to the be a strong player in the mobile space. More...

Friday


  • Aug-27-2009 -- More Texans fall behind on mortgage bills
    Aug. 27--For the first time since 2006, fewer Connecticut homeowners were more than three months behind in their mortgage payments or in foreclosure in the second quarter -- a welcome sign amid a recent spate of discouraging reports about the housing market.
    Gross domestic product increased 1.4 percent in the second quarter, the slowest rate since the recovery began, according to the median estimate of economists in a Bloomberg survey before a government report tomorrow. More...

  • Aug-27-2009 -- EPA to decide whether coal ash is hazardous waste
    EIP, Earthjustice and Sierra Club: Coal ash crisis worsens -- New study to identify over three dozen additional coal ash water contamination sites in Wisconsin and 20 other states 8/25/2010 As Coal Ash Hearings Begin Across U.S., EIP, Earthjustice and Sierra Club Report to Reveal Ineffective State Oversight & Growing Need for EPA to Step Into Gap; Sites Overlooked by EPA Found in AR, CT, FL, IL, IA, KY, LA, MI, NE, NY, NC, ND, OH, OK, OR, PA, SD, TN, TX, VA and WI. MADISON, WI. //NEWS ADVISORY//More than three dozen coal-ash dump sites in Wisconsin and 20 other states that are contaminating drinking water or surface water with arsenic and other heavy metals are not being monitored properly by state governments and require the intervention of the U.S. Environmental Protection Agency (EPA), according to a major new report that will be released at 10 a.m. CDT Thursday (August 26, 2010) by the Environmental Integrity Project (EIP), Earthjustice and the Sierra Club.
    Robin Everett, associate regional representative for the Sierra Club in Oregon, says the EPA wants to hear from the public about two options -- adopting new federal coal ash rules, or leaving things as is. More...

  • Aug-27-2009 -- Federal inquiry takes aim at BP's corporate culture on safety
    David J. Phillip, The Associated Press BP drilling and completion operations manager David Sims, right, testifies during the Deepwater Horizon joint investigation hearings by the Coast Guard and the Interior Department's Bureau of Ocean Management, Regulation and Enforcement on Thursday in Houston.
    Cementer Nathaniel Chaisson sent the email to Jesse Gagliano, Halliburton's account representative, on the morning of 20 April - the day of the explosion. More...

  • Aug-27-2009 -- Stanford's financial reports 'fictional'
    HOUSTON — Attorneys representing the insurer paying for the legal bills of jailed Texas financier R. Allen Stanford and two of his former company executives are telling a federal judge the three men lied to investors and falsified financial statements.
    Stanford is accused by the U.S. of leading a $7 billion investment fraud scheme centered on the sale of certificates of deposit through the Stanford International Bank Ltd. in Antigua. More...

  • Aug-27-2009 -- Federal government wants to hit American Airlines with a record fine
    The Federal Aviation Administration hit American Airlines with a $24.2 million fine Thursday.
    The FAA told American that ties that fasten wire bundles to the side of the wheel well weren't properly spaced 1 inch apart. More...

  • Aug-27-2009 -- China Money Rate Jumps Most Since June Ahead of ICBC Bond Sale
    Chinese banks avoided the mortgage-related turmoil that battered Western institutions but industry analysts say the abrupt surge in stimulus-related lending could lead to a rise in bad loans if poorly conceived projects default.
    China'''s stimulus went out mainly through banks, not the government, and bank lending was 9.6 trillion yuan in 2009, roughly twice the 2008 level. More...

  • Aug-27-2009 -- Copper in London Declines After Rally to Month High, Paring Weekly Advance
    Benchmark copper CMCU3 on the London Metal Exchange ended at $7,304.5 a tonne from a close of $7,101 on Wednesday, when the metal used in power and construction hit a one-month low of $7,028.25.
    Copper futures for December delivery fell 5.05 cents, or 1.5 percent, to close at $3.262 a pound at 1:15 p.m. on the Comex in New York, the biggest percentage loss for a most-active contract since Aug. 11. More...

  • Aug-27-2009 -- The business behind the show
    It probably won't come us a surprise to many that Blockbuster , once the market leader in home video rentals, is preparing to file for bankruptcy.
    Blockbuster ( BBI ) is laying the groundwork for a Chapter 11 bankruptcy filing in mid-September, according to a report in the Los Angeles Times. More...

  • Aug-27-2009 -- Hong Kong Stocks Decline For Third Week; Developers Slide
    HK FLUCTUATES Hong Kong shares moved in a thin 95-point range on light volume as trading remained choppy ahead of the expiry of August futures contracts next Monday.
    Investors shrugged off strong results from China Construction Bank (CCB) at the weekend, which showed the bank's second-quarter profit rose 20 percent on lower credit costs. More...

  • Aug-27-2009 -- RIM Falls to 17-Month Low as India BlackBerry Service Ban Looms
    Research in Motion on Thursday extended a deal to the government of India whereby RIM would head up an industry forum that would assist with the "lawful access needs of law enforcement agencies" while preserving the security needs of its corporate clients.
    RIM will lead an industry forum focused on supporting the lawful access needs of law enforcement agencies while preserving the legitimate information security needs of corporations and other organisations in India, the firm said in a statement. More...

  • Aug-27-2009 -- American Airlines Flight Makes Rare Satellite-Based Approach
    "RNP flight paths are an important part of a larger GE effort that is pioneering new ways to optimize aircraft operations from gate to gate," said Fulton.
    Naverus, a part of GE Aviation, designed the path, which incorporates Required Navigation Performance technology (RNP), a core component of the FAA's NextGen airspace modernization plan. More...

  • Aug-27-2009 -- FCC appeals court ruling on indecency rules
    The Federal Communications Commission fired back at a federal appeals court that said the regulatory agency's enforcement of its indecency rules was "unconstitutionally vague" and had a "chilling effect."
    The FCC action in the case had been an attempt by the commission to step up enforcement against so-called "fleeting" indecency, most often seen in live telecasts. More...

Thursday


  • Aug-26-2009 -- Gerber Scientific Q1 beats Street; shares jump
    SOUTH WINDSOR, Conn. Manufactuting equipment maker Gerber Scientific Inc. said Thursday its profit almost tripled for its fiscal first quarter largely due to foreign exchange swings as revenue rose slightly.
    The company reported net income of $1.5 million, or 6 cents per share, for the three months ended July 31 compared with $514,000, or 2 cents per share, a year ago. More...

  • Aug-26-2009 -- Chances of Double Dip Now Over 40%: Roubini
    Nouriel Roubini, the New York University economist who predicted the global financial crisis, said U.S. growth will be '''well below''' 1 percent in the third quarter and put the odds of a renewed recession at 40 percent.
    Last year, when economy was in free fall, the Fed pushed interest rates to zero, and the government initiated a 10% of GDP fiscal stimulus of $800 billion. More...

  • Aug-26-2009 -- Hewlett-Packard acquires privately held Stratavia
    Bill Veghte, H-P's executive vice president of Software and Solutionsm commented, "As applications and IT environments become increasingly complex, organizations need to automate changes that range from large-scale application updates to simple one-line configuration updates with consistency and control, Stratavia's database and application automation solutions, combined with HP's leading Business Service Automation portfolio, give organizations a one-stop shop for infrastructure and application deployment management."
    The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More...

  • Aug-26-2009 -- Eisner would be a mistake for Tribune
    Former Walt Disney Co. chief executive Michael Eisner has emerged as a candidate for the chairmanship of Tribune Co. once it emerges from bankruptcy.
    At Tribune, and many newspaper publishers, the problem isn't content as much as it is getting people to pay for it. More...

  • Aug-26-2009 -- PetroChina says 1H profit up 29 percent
    PetroChina, with shares traded in New York, Hong Kong and Shanghai, is the world's most valuable company by market capitalization after Exxon Mobil Corp. The company's profitability has rebounded from 2009, when its net profit fell 9.7 percent due to sluggish demand and controls on prices for its processed products.
    Sinopec's (NYSE:SNP) 28 oil wells in Tahe oilfield have resumed norm al operation after flood hitting the region in August. More...

  • Aug-26-2009 -- Diageo outlook cautious despite earnings rise
    The London-based maker of Smirnoff vodka, Johnnie Walker whisky and Guinness beer saw strong growth in Latin America, Africa and Asia which account for a third of group earnings, while demand in Europe and North America was still weak.
    Analyst Hunter added that a recent spike in wheat prices caused by drought in Russia would provide a headwind for Diageo going forward, whilst exchange rate fluctuations could also be a challenge. More...

  • Aug-26-2009 -- Canada's Royal Bank 3Q Net Falls 18%; Misses Consensus
    The wealth management division's net income rose 10 per cent to $185 million, while insurance profits fell eight per cent to $153 million.
    The Montreal-based bank earned $271 million, or $1.56 per diluted share for the period ended July 31. More...

  • Aug-26-2009 -- Ahead of the Bell: Guess shares fall
    Looking ahead, the company forecast third quarter earnings to range from 55 to 58 cents per share, which straddles analysts' outlook of 57 cents per share.
    Revenue rose nearly 11 percent to $577.1 million as business grew in North America, Asia and Europe. More...

  • Aug-26-2009 -- Yielding to Bernanke's Call
    As discussed in The 'Flations, falling prices may be good or bad.
    Market expectations of more quantitative easing have led U.S. bond yields to fall sharply. More...

  • Aug-26-2009 -- Sanofi to fight on after generic Lovenox setback
    Shares in Sanofi and Novartis were little changed.
    Judge Sullivan ruled that the FDA had not acted inappropriately in approving enoxaparin. More...

  • Aug-26-2009 -- Natural Gas Prices Slump to 2010 Low
    The Energy Department on Thursday is expected to report an increase of 37 billion to 41 billion cubic feet in natural gas storage inventories for the week ended Aug. 20, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
    Oil prices increased for a second day after six straight days of declines, as the dollar fell and investors latched onto a government report that new requests for unemployment benefits fell sharply last week. More...

  • Aug-26-2009 -- Ford to Debut Eight New Models in India
    U.S. car maker Ford on Thursday said it will introduce eight new products in India by 2015 in a bid to tap the burgeoning domestic car market.
    The company will export the Figo to 50 new markets, including Mexico, UAE and some North African countries. More...

Thursday


  • Aug-26-2009 -- Ex-Disney chief Michael Eisner reportedly in talks with Tribune Co.
    NEW YORK (Reuters) - Former Walt Disney CEO Michael Eisner is in discussions with Tribune Co creditors that could lead him to succeed Sam Zell as chairman after the company exits bankruptcy, the Los Angeles Times reported, citing unidentified people familiar with the matter.
    Under one scenario being discussed by the senior creditors, Eisner, 68, would be joined by Jeff Shell, a former News Corp. cable executive who is now in top management at Comcast Corp., according to four people with knowledge of the talks. More...

  • Aug-26-2009 -- Toll Brothers, a Home Builder, Posts a Profit
    Although revenues and unit deliveries for the quarter were relatively flat compared to one year ago, our gross margin, before write-offs, improved by 350 basis points.
    Revenue for the company fell 10.4 percent to $51.6 million in the three month period ended July 31. More...

  • Aug-26-2009 -- Hong Kong Stocks Fluctuate as Trinity Surges, China Life Slides
    HONG KONG/SHANGHAI: Shares in Hong Kong and Shanghai fell on Monday, tracking weakness in many other regional markets, on persistent concerns about the global economic recovery and the outlook for Chinese banks.
    A 1.6 per cent drop by HSBC to 75.90 accounted for 52.39 points of the index's fall, while telecoms giant PCCW fell 9.8 per cent to 2.59 on news it plans to raise $HK1.3 billion from a share sale, partly to pay off existing debt. More...

  • Aug-26-2009 -- On Doomed Rig's Last Day, a Divisive Change of Plan
    Federal investigators on Monday are expected to confront executives and managers of BP and rig owner Transocean Ltd. about catastrophic failures in oil well design and disabled safety systems that may have played a role in the deaths of 11 crewmen on the ill-fated Deepwater Horizon.
    Investigator Hung Nguyen, a U.S. Coast Guard captain, illustrated how no one person seemed to be in charge and aware of all risks on the rig, which exploded April 20. More...

  • Aug-26-2009 -- TiVo beats expectations on DVR sales
    Added Rogers, in announcing the earnings, "We are confident in our ability to drive the distribution of our products and are investing in our ability to do so now, as well as for future generation products."
    TiVo Inc., the digital video- recording pioneer, reported a smaller loss in its fiscal second quarter than analysts projected as cable systems increased their use of the company'''s services. More...

  • Aug-26-2009 -- Baht Gains to Two-Year High on Signal for More Rate Increases
    Says economic growth to continue in H2 BANGKOK, Aug 25 (Reuters) - Data from Bank of Thailand: KEY DATA One-day repo rate levels since 2007 (pct): Since Aug. 25 1.75 Jul. 14-Aug. 25 1.50 Apr. 8, 2009-Jul 14, 2010 1.25 Feb. 25-Apr. 8, 2009 1.50 Jan. 14-Feb. 25, 2009 2.00 Dec. 3 2008-Jan. 14, 2009 2.75 Aug. 27-Dec 3, 2008 3.75 Jul. 16-Aug. 27, 2008 3.50 Jul. 18, 2007-Jul. 16, 2008 3.25 May. 23-Jul 18, 2007 3.50 Apr. 11-May 23, 2007 4.00 Feb. 28-Apr. 11, 2007 4.50 Jan. 17-Feb. 28, 2007 4.75 CONTEXT: - All 18 analysts polled by Reuters had expected the Bank of Thailand (BOT) to raise its policy rate by a quarter point to 1.75 percent after lifting it from a record low of 1.25 percent last month.
    The one-year onshore swap rate, the fixed cost needed to receive a floating payment, rose three basis points to 1.7 percent and the three-year rate climbed 4.5 basis points to 2.355 percent. More...

  • Aug-26-2009 -- Carlyle-owned toy supplier seeks Chapter 11 protection
    Oriental Trading Co. of Omaha filed a plan in U.S. Bankruptcy Court in Delaware on Wednesday to reorganize its finances, and it said an agreement with lenders would let it continue operating without impact to its customers.
    Debevoise & Plimpton and Young Conaway Stargatt & Taylor LLP are serving as legal counsel. More...

  • Aug-26-2009 -- Failed union deals put American Airlines officials in holding pattern
    CHICAGO (Reuters) - Members of American Airlines' mechanics union rejected a contract proposal and authorized union leaders to call a strike, the Transport Workers Union (TWU) said.
    Having spent 32 years in Maintenance at AAL I have descovered that no mater what the management did the Union thought they could do better. More...

  • Aug-26-2009 -- Feud With Clarin Deepens Bond Rout as JPMorgan Says Sell: Argentina Credit
    BUENOS AIRES (MNI) - Argentine President Cristina Fernandez de Kirchner late Tuesday accused two leading newspaper publishers of antitrust activities and the illegal takeover of the nation's only newsprint mill, the latest episode in a swelling battle with the big media company Grupo Clarin.
    Cristina Fern''ndez, Argentina???s president, has accused the country'''s top two newspapers of colluding with the nation'''s military dictatorship more than 30 years ago to force the sale of a newsprint company that they have since used to stifle competition. More...

  • Aug-26-2009 -- Empire State Building's rival skyscraper approved by City Council
    The "Empire State Building Company" took out a full page ad in the New York Times today, urging the City Council to reject the plan.
    "I like the tall buildings and all the lights," said another. More...

  • Aug-26-2009 -- Pemex Raises $1B In 2035 Bond Reopening To Yield 5.975%
    Suarez said that in addition to crude imports Mexico is modernizing refineries, which experts say are not all capable of refining heavier grade oil as the most recent ones were built in the 1970s.
    Falling oil output at aging fields has put Pemex at risk of becoming a net importer within the next 10 years, although the crude imports would not be used to supplement oil production in Mexico. More...

  • Aug-26-2009 -- Rue21's 2Q net income rises 20 percent
    Rue21 CEO Bob Fisch said the company is '''pleased''' to report the strong sales and income growth.
    Revenue for the Warrendale, PA-based company was $143 million, up 14.3% from $125.1 million a year ago, but it missed the Street'''s view of $151.5 million. More...

Wednesday


  • Aug-25-2009 -- AAA sees more Americans driving during Labor Day
    "AAA travel agents are continuing to report strong increases in the number of travelers making advanced reservations.
    Air leisure travelers (an estimated 30,000) will account for some 1 percent of all travel in Michigan during the holiday weekend. More...

  • Aug-25-2009 -- Toll Brothers Turns A Profit, Pleases The Street
    Carl Gutierrez, 08.25.10, 10:00 AM EDT Shares of high-end home builder head higher as tax breaks help push it back into the black.
    Revenues for the quarter decreased to $454.2 million from $461.37 million in the same quarter last year, and the company sold 803 units, up just 1% from 792 units sold last year. More...

  • Aug-25-2009 -- Garmin to recall 1.25 mln PNDs due to fire hazard
    Aug 25 (Reuters) - Garmin Ltd ( GRMN.O ) said it was recalling about 1.25 million personal navigation devices (PNDs) because of a potential fire hazard from overheating batteries, but did not expect the recall to hurt its results.
    The 2720 Garmin GPS pilot pioneer street system is one of the premier navigation systems available on the market and it is the choice of many people who are new to navigation software and GPS devices. More...

  • Aug-25-2009 -- Mortgage applications rise 4.9 pct on low rates
    More homeowners are likely to be dropped out of the program.
    The program is specially intended to address the mortgage delinquency levels and offer opportunities for money lenders to offer effective loss mitigation plan to prevent further foreclosures from taking place. More...

  • Aug-25-2009 -- Treasuries Rise, 10-Year Yield Drops to 19-Month Low on Signs of Slowdown
    After another week marked by disappointing jobs and manufacturing data in the U.S., investors ploughed into the relative safety of government debt, pushing yields to record lows.
    In late New York trading, the benchmark 10-year Treasury note was 28/32 higher and its yield was down 10 basis points at 2.500 per cent. More...

  • Aug-25-2009 -- Credit-Card Delinquencies Slump In 2Q; Balances At 8-Year Low
    The financier has launched a credit card deal which has an introductory rate of 1.9 per cent for the first 12 months and also offers no handling fee on money and balance transfers made within the first 90 days of the product being taken out.
    High interest credit cards are can keep you buried in debt for years to come. More...

  • Aug-25-2009 -- Factbox: Hurdles to Ireland regaining its financial reputation
    S&P cut Ireland's sovereign credit rating to AA- as the ratings agency projects the region will now need as much as EUR 50B to recapitalize its banking system amid an initial forecast of EUR 35B in funds, and the group went onto say that "a further downgrade is possible if the fiscal cost of supporting the banking sector rises further."
    The Euro pared the overnight advance to 1.2725 as Standard & Poor's lowered its credit rating for Ireland, and the single-currency may continue to trend lower over the remainder of the week as price action continues to trade below the 100-Day SMA at 1.2743. More...

  • Aug-25-2009 -- US investors set to win more rights to influence board
    WASHINGTON — Federal regulators are moving toward making it easier for shareholders to nominate directors of public companies, a change sought by investor advocates that is already sparking protest from the nation's biggest business lobby.
    According to the proposed rule, shareholders would have to hold at least 3 percent of the company's stock for a minimum period of three years in order to nominate a director, the SEC said. More...

  • Aug-25-2009 -- U.S. crude extends losses on EIA inventory builds
    '''U.S. consumption is still very low; product inventories are sky-high,''' said Tobias Merath, Zurich-based head of commodity research at Credit Suisse Group AG. '''In every market we'''ve seen fears of a double-dip recession and oil has been particularly affected.'''
    NEW YORK (Dow Jones)--Crude oil futures fell Monday as concerns about weakening demand and rising inventories pushed prices below $73 a barrel. More...

  • Aug-25-2009 -- Recall of Deli Meat Sold at Walmart Stores
    The United States Department of Agriculture (USDA) recently announced a major recall of certain food products containing roast beef and ham, which were distributed through the Wal-Mart chain and are suspected to be contaminated with harmful bacteria.
    The recall was issued after contamination for Listeria monocytogenes was unearthed in a retail sample collected by the State of Georgia. More...

  • Aug-25-2009 -- Profit sinks at American Eagle Outfitters
    American Eagle Outfitters Inc. (NYSE: AEO ) said Wednesday that its second-quarter profit fell on high inventories and increased discounting, while the company forecasted weak sales for the back-to-school quarter.
    In the second quarter, the company's direct business AEO Direct, which includes ae.com, aerie.com and 77kids.com, posted a 9% decline in sales, compared with a 17% sales growth a year ago, which was driven by promotions. More...

  • Aug-25-2009 -- Amazon Loses E-Book Deal
    An exclusive e-book deal between Amazon.com and the agent for such Random House classics as "Invisible Man" and "Lolita" is no longer exclusive, and no longer a deal.
    Last month Wylie and Amazon announced the online retail giant would be the exclusive retailer for a number of the '''most influential authors''' after signing a deal to sell 20 books published by the Wylie'''s new Odyssey Editions imprint. More...

Wednesday


  • Aug-25-2009 -- Recall of Deli Meat Sold at Walmart Stores
    A subsidiary of Tyson Foods Inc. is recalling 380,000 pounds of deli meats that may be contaminated with Listeria monocytogenes.
    The meat was used in some '''Marketside Grab and Go''' deli sandwiches and stores have been instructed to remove affected products from the shelves, Wal-Mart said in a statement . More...

  • Aug-25-2009 -- Rev. Sun Myung Moon said to be considering buying back Washington Times
    I've been suspicious about Snyder and the Washington Times since the spring.
    A source tells us that Reverend Moon's son, Preston, was prepared to close the Times as recently as last Friday. More...

  • Aug-25-2009 -- Indian shares drop; Cairn down, ONGC gains
    NEW DELHI: Cairn Energy will seek the full range of approvals from the government, a senior company executive said, an indication of a conciliatory gesture by the oil explorer to seal a transaction to sell a controlling stake in its Indian unit to Vedanta Resources.
    Cairn has declined to comment on the issue and India's Oil Minister has said the government has yet to decide whether ONGC should enter the fray. More...

  • Aug-25-2009 -- Yahoo moves to Bing in North America
    Following the search alliance it formed with Microsoft last year , Yahoo has announced that Bing is now officially powering all of its organic search results in the U.S. and Canada, meaning webmasters and search-engine optimization professionals need only focus their efforts on one major engine besides market leader Google.
    MICROSOFTS Bing platform started powering Yahoo! searches in the U.S. and Canada today after the two announced a 10-year partnership last year. More...

  • Aug-25-2009 -- Feds investigate Jeep gas tanks
    The petition cites an analysis of crash deaths conducted by the Center for Auto Safety and the Motor Vehicle Fire Research Institute of Charlottesville, Va., which found that the gas tank mounted behind the Cherokee's rear axle is susceptible to puncture if the vehicle is hit from the back.
    The Center likens the problem to that of the Ford Pinto , which met safety requirements but still were prone to catching fire in rear-end collisions. More...

  • Aug-25-2009 -- OIL FUTURES: Crude Recovers Slightly In Asia After Overnight Drop
    Crude oil's decline can be directly attributed to less than favorable economic news from the U.S. and abroad.
    Oil rebounded as much as 0.7 per cent to top $74 today on a weaker dollar, but prices stayed close to last week's six-week lows on a combination of lacklustre economic indicators, rising risk aversion and a lack of hurricane activity in the Gulf of Mexico. More...

  • Aug-25-2009 -- Rig officials' shortcuts may have contributed to explosion, panel is told
    Before the April 20 explosion of the Deepwater Horizon, employees aboard the oil rig voiced '''confusion''' about the interpretation of a key safety test that could have led them to take different action and possibly avoid the disaster that killed 11 crew members and started the worst offshore oil spill in history, according to testimony Tuesday at a federal hearing in Houston.
    The two agencies are working with the Federal Bureau of Investigation to assess whether any criminal charges should be brought as a result of the Deepwater explosion, which killed 11 men and triggered the massive oil spill in the Gulf of Mexico. More...

  • Aug-25-2009 -- Barnes & Noble names leaders for digital business
    The bookseller is currently mulling over a sale of the company and is embroiled in a proxy fight with activist investor Ron Burkle.
    In 2011, total sales include Barnes & Noble College Bookstore ("College") sales of $226 million. More...

  • Aug-25-2009 -- Fed's Evans: Private sector could kick-start job growth
    While the Federal Reserve'''s early actions, mainly reducing the interest rate to almost zero and engage in massive securities buying programs have kept the U.S economy out of a deeper recession, the recovery seems to be much slower than anticipated, with unemployment rates remaining at uncomfortably high levels and inflation a whole 1% below the target rate.
    Evans, who will be a voting member of the Fed's policymaking Federal Open Market Committee next year, said job losses are driving mortgage defaults and foreclosures. More...

  • Aug-25-2009 -- Heineken Profit Up On Cost Cuts, Volumes Down On Weak Europe
    Profit excluding one-time items and acquisitions gained 17 percent and Heineken forecast growth for the year "at least in low double digits."
    Aug. 25 (Bloomberg) -- Heineken NV, the world's third- largest beermaker, posted first-half profit that beat analysts' estimates as the company closed breweries and cut debt. More...

  • Aug-25-2009 -- FedEx sues to blockCuomo probe by Cuomo
    FedEx Corp. ( FDX ) is looking to block New York Attorney General Andrew Cuomo'''s investigation into the company's declared value policies for items shipped, as well as its liability limits for those items, according to reports.
    John Milgrim, a spokesman for Cuomo, said in an e-mail, "We're reviewing the filing which we have just received." More...

  • Aug-25-2009 -- Toyota plans 5 million cumulative hybrid sales by 2015
    The noise is designed to be around as loud as the noise of a regular car, to prevent it from becoming annoying to drivers, the firm says.
    Toyota, which also makes the Camry sedan and Lexus luxury models, said it plans versions of the device for other hybrid models, plug-ins, electric vehicles, and fuel-cell vehicles. More...

Tuesday


  • Aug-24-2009 -- OIL FUTURES: Crude Falls As Data Add To Economy Worries
    Oil rebounded as much as 0.7 per cent to top $74 today on a weaker dollar, but prices stayed close to last week's six-week lows on a combination of lacklustre economic indicators, rising risk aversion and a lack of hurricane activity in the Gulf of Mexico.
    Crude oil's decline can be directly attributed to less than favorable economic news from the U.S. and abroad. More...

  • Aug-24-2009 -- Defender of the deep: The oil's not gone
    For several months, the Deepwater Horizon oil spill in the Gulf of Mexico has dominated international headlines.
    The U.S. House approved a month ago legislation improving further oversight of offshore energy operations, including removal of the $75 million limit on liability for oil spill damages. More...

  • Aug-24-2009 -- PRECIOUS METALS: Gold Futures Reverse Higher After Homes Data
    The previous metal rebounded in the first trading day this week, where investors' fears from the outlook of global economies and the strength of the recovery process spurred demand for safety, causing commodities and low yielding assets to rise, while higher yielding assets and risky investments dropped.
    G7 government bond yields meantime fell again as prices rose, driving the two-year U.S. yield down towards last week's record low despite the looming sale of $37 billion in new two-year debt. More...

  • Aug-24-2009 -- UK, Ireland Stocks Drop; CRH Slumps as Rio Tinto, BHP Billiton Decline
    In the U.S., the Dow Jones industrial average was down 9.9 points, or 0.1 percent, at 10,203.63 around midday New York time, while the broader Standard & Poor's 500 futures fell 0.1 percent to 1,070.74.
    As for the euro area benchmark, the STOXX 50 it dropped 1.24% to trade at 2627.90. More...

  • Aug-24-2009 -- EU Data Point to Strength, but Doubts Linger
    European industrial orders rose more than economists forecast in June as strengthening global growth helped fuel the region'''s fastest expansion in four years in the second quarter.
    While the U.S. prohibition lasted for a couple of weeks, London regulators kept the ban in place for months. More...

  • Aug-24-2009 -- The China Syndrome
    Markets have spent most of August in the red as economic indicators from the U.S., China, Japan and elsewhere suggested global growth will slow in the second half of the year, dimming earnings prospects for manufacturers and other exporters.
    China has been selling off U.S. Treasuries, and some analysts speculate that the move is tied to ambitions by China to replace the dollar as the world's main reserve currency. More...

  • Aug-24-2009 -- Brazil's Rousseff May Win in First-Round Vote as Serra Loses Supporters
    Brazil's ruling party candidate Dilma Rousseff has claimed her biggest poll lead ahead of the October 3rd Presidential election in Brazil.
    Economy, Lula, TV ads boost Rousseff candidacy (Adds analyst comment, other details, new throughout) By Natuza Nery BRASILIA, Aug 24 (Reuters) - Ruling party candidate Dilma Rousseff has consolidated enough voter support to win Brazil's presidency without a runoff, a poll released on Tuesday showed, thanks to a recent round of TV ads linking her to the massively popular government. More...

  • Aug-24-2009 -- 'Fear Index' Ticks Higher
    For last week, the reading was 15.49%, compared to 21.12% in our market review two weeks ago.
    NEW YORKThe U.S. stock market's "fear index" reached its highest point since early July as shares tumbled and investors reacted to housing data that proved to be much worse than expected. More...

  • Aug-24-2009 -- Deli meat recalled nationwide for bacteria
    Zemco Industries in Buffalo, New York, has recalled approximately 380,000 pounds of deli meat from Wal-Mart stores nationwide; the meat may be contaminated with bacteria that can cause a potentially fatal disease, the U.S. Department of Agriculture announced Monday.
    The meat was produced from June 18 to July 2, 2010 with use-by dates from August 20 to September 10, 2010. More...

  • Aug-24-2009 -- Bank of America CEO Brian Moynihan buys 30K BofA shares
    According to a regulatory filing with the U.S. Securities and Exchange Commission, Bank of America'''s chief executive purchased 7,200 shares at $13.0295 each, 10,000 shares at $13.02 each, and 12,800 shares at $13.0293 each.
    Bank of America shares closed at $12.87 on the New York Stock Exchange, unchanged from Friday's close. More...

  • Aug-24-2009 -- Matthew Amorello pleads not guilty
    HAVERHILL, Mass.-- The former head of the Big Dig has been released on personal recognizance after a not guilty plea to drunken driving charges was entered on his behalf.
    Former Big Dig bigwig Matthew Amorello will appear at his arraignment tomorrow. More...

  • Aug-24-2009 -- South Africa Cuts Corn Forecast; Wheat May Fall 13%
    USDA estimated last week'''s soybean export shipments pace at 13.5 million bushels.
    Since 2004, the surveys have forecast weekly moves accurately 49 percent of the time for corn and 54 percent for soybeans. More...

Tuesday


  • Aug-24-2009 -- Hong Kong stocks seen lower on growth fears
    BYD shares drop on H2 slowdown concerns (Updates to midday) By Vikram S. Subhedar and Lu Jianxin HONG KONG/SHANGHAI, Aug 23 (Reuters) - Hong Kong shares were lower on Monday, tracking other regional markets, as broad investor concerns about the global economy weighed on stocks.
    HONG KONG, Aug 23 (Reuters) - Hong Kong stocks fell on Monday, tracking other regional markets as broad investor concern about global economic growth weighed on stocks. More...

  • Aug-24-2009 -- Asian Stocks Fall on Economic Growth Concerns; Yen, Dollar Gain
    Japan hasn'''t intervened in the currency market since March 2004, when the yen was at about 109 per dollar.
    NEW YORK (Dow Jones)--The euro fell against the dollar and yen Monday after concerns about the pace of global growth, exacerbated by disappointing euro-zone data, boosted the traditional safe harbors. More...

  • Aug-24-2009 -- Johnson & Johnson recalls contact lenses overseas
    NEW YORK (Reuters) - Johnson & Johnson, which has been beset with recalls of its over-the-counter medicines, is voluntarily recalling contact lenses in Japan and elsewhere in Asia and Europe following customer complaints.
    NEW YORK — Pharmaceutical giant Johnson and Johnson (J&J) announced on Monday the recall of 100,000 boxes of one of its popular contact lenses brands distributed in Asia and Europe. More...

  • Aug-24-2009 -- TREASURIES-Climb in Asia as stocks falls, 2-yr auction eyed
    After another week marked by disappointing jobs and manufacturing data in the U.S., investors ploughed into the relative safety of government debt, pushing yields to record lows.
    The bond market is saying that it may be years before the Fed raises rates to foster the recovery, said Carl Lantz, head of interest-rate strategy in New York at Credit Suisse Group AG, one of 18 primary dealers of U.S. government securities that trade with the central bank. More...

  • Aug-24-2009 -- Norfolk Southern Raises $250M With Century Bonds
    NEW YORK (Dow Jones)--In what bankers hope will be the first in a new round of 100-year bond sales, Norfolk Southern Corp. (NSC) raised $250 million Monday by selling debt that it won't have to repay until the next century.
    Aug 23 (Reuters) - Norfolk Southern Corp ( NSC.N ) on Monday added $250 million in a reopening of existing 100-year senior notes, said IFR, a Thomson Reuters service. More...

  • Aug-24-2009 -- HSBC Has Gone on the Civets Trail
    HSBC and Old Mutual are in exclusive talks and have eight weeks to reach an agreement for Nedbank, which has a market value of 71.5 billion rand ($9.8 billion).
    Having said that, the "fit" is not bad; HSBC is a conservative kind of bank which came through the financial crisis rather well. More...

  • Aug-24-2009 -- Philadelphia 'blogger fee' turns into blog fodder
    I couldn't help but laugh when I read a headline in the news today: Philly demands bloggers get business licenses.
    Computerworld - If you're a blogger in the city of Philadelphia, get out your checkbook. More...

  • Aug-24-2009 -- Gold Drops for Third Straight Day as Dollar's Gain Pares Investment Demand
    U.S. gold futures for December delivery settled down $6.60 at $1,228.80.
    When recently gold sold off and fell as much as 8% below its record high level of $1,260 an ounce, investors had to be more than a little concerned. More...

  • Aug-24-2009 -- Mutual fund investors shun stocks, favor bonds
    The overall stock market is down over the past decade, while the price of gold has more than quadrupled and corporate bond returns have doubled.
    The total return, including dividend, for the benchmark Standard & Poor's 500 index is down about 11 percent since August 2000, according to Bespoke. More...

  • Aug-24-2009 -- China Day Ahead: Eight Hong Kong Tourists Die in Philippine Bus Hijacking
    Net loss was 96 million yuan ($14 million), according to Bloomberg calculation derived from the Beijing-based company'''s half-yearly statement.
    Trading in the shares, which closed at HK$2.36 on Friday, was suspended on Monday. More...

  • Aug-24-2009 -- Borders CFO Mark Bierley Resigns
    Bierley, who was named chief operating officer in June, served with Borders for 12 years.
    In June, Bennett LeBow was named CEO of the parent company, while Edwards assumed the positions of president of Borders Group, and CEO of Borders Inc., the company's principle operating unit. More...

  • Aug-24-2009 -- Guilty plea in Disney securities fraud scheme
    PREET BHARARA, the United States Attorney for the Southern District of New York, and JANICE K. FEDARCYK, the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation ("FBI"), announced that YONNI SEBBAG, a/k/a "Jonathan Cyrus," pled guilty today to fraud charges related to his participation in an insider trading scheme in which SEBBAG and his co-conspirator BONNIE HOXIE, an assistant to a top executive at the Walt Disney Company ("Disney"), obtained confidential inside information, including information about Disney's quarterly earnings, and attempted to sell the information to investment companies seeking to trade on inside information.
    Stealing corporate information is a serious crime and affects the entire country. More...

Monday


  • Aug-23-2009 -- Fed's Hoenig Says Big Banks Still Benefit From Safety Net
    Hoenig, in prepared testimony to a field hearing of the U.S. House of Representatives Subcommittee on Oversight and Investigations here, said the community bank model was still viable, especially if allowed to compete on an equal footing with larger banks.
    A "major concern" for the strength of the expansion is the decline in bank lending, particularly to small companies, said Hoenig, a voting member of the Fed's policymaking Federal Open Market Committee. More...

  • Aug-23-2009 -- WORLD FOREX: Euro Down Vs Dollar, Yen On Fears About Growth
    A near-term recovery in risk appetite may prove to boost the Euro along with most major currencies at the expense of the safety-linked U.S. Dollar and Japanese Yen as U.S. stock index futures tick 0.2 percent higher late into Asian trade.
    Later in the week Japanese export data is expected to reflect the dip in activity with year-over-year export data falling from a 27% pace of improvement to a 21% growth rate. More...

  • Aug-23-2009 -- Haines: Tax Cuts Do Contribute to Nation's Deficit
    The Bush tax cuts included cuts for all taxpayers, and were set to expire at the end of 2010.
    The CBO estimated that the federal budget deficit would decline to 4.2 percent of GDP If all of the tax breaks are allowed to expire. More...

  • Aug-23-2009 -- Now is the time to re-finance
    Credit scores need to be 720 or higher; income requirements generally mean that monthly payments need to be less than 30 percent of monthly income; and then there's the equity and value of the home.
    After the purchase of Countrywide Bank of America became the largest lender in the United States. More...

  • Aug-23-2009 -- Treasury Prices Hold Firm Ahead Of $7B 30-Year TIPS Auction
    Bonds have been rallying powerfully, driven by fears that the short and unremarkable U.S. economic recovery is all but over, resulting in little threat of inflation but offering few alternatives for investors looking for safe returns.
    The bond market is saying that it may be years before the Fed raises rates to foster the recovery, said Carl Lantz, head of interest-rate strategy in New York at Credit Suisse Group AG, one of 18 primary dealers of U.S. government securities that trade with the central bank. More...

  • Aug-23-2009 -- Sanderson profit down 16% as chicken prices soften
    The decrease in net sales of poultry products resulted from a decrease in the average sales price of poultry products of 1.7% and a decrease in the pounds of poultry products sold of.8%, from 632.1 million pounds during the third quarter of fiscal 2009 to 627.4 million pounds during the third quarter of fiscal 2010.
    For the quarter, the Company reported net income of $36.1 million, or $1.55 per share, compared with $43.0 million, or $2.06 per share, for the third quarter of fiscal 2009. More...

  • Aug-23-2009 -- Pressed to Act, Bank of Japan Sees Few Ways to Lift Demand
    Japan Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa talked over the phone on Monday about the currency and the economy and agreed to work closely, Chief Cabinet Secretary Yoshito Sengoku said.
    TOKYO (Dow Jones)--Tokyo stocks posted moderate declines Monday, with the Nikkei Stock Average closing at its lowest level for the year, after Japanese Prime Minister Naoto Kan and Bank of Japan Gov. Masaaki Shirakawa appeared to make little progress on tackling the weak economy in what had been an eagerly anticpated discussion. More...

  • Aug-23-2009 -- SABMiller emerges favorite for Foster's beer
    SABMiller plc, one of the world's largest brewers, is reportedly mulling a $10.9 billion acquisition of Fosters Group Ltd, the beer making arm of Australia's largest brewing company Carlton and United Breweries (CUB).
    Foster'''s is '''well within SAB'''s firepower,''' Trevor Stirling, an analyst at Sanford C. Bernstein, wrote on June 1. More...

  • Aug-23-2009 -- Campbell Soup considers biscuit acquisition-source
    The Sunday Times reported that Campbell is considering making a 1.5 billion pound, roughly $2.3 billion today, for a bid that would break up United Biscuits in the United Kingdom.''
    Reports suggest the U.S. company and its iconic canned soup brand are looking to pay '1.5bn for the biscuit making division of United Biscuits, which makes Penguin, Jaffa Cakes and McVitie products. More...

  • Aug-23-2009 -- Fed Said to Plan Reining in AIG's Credit Line by $3.6 Billion
    As per the terms of American International Group's (AIG) 2008 government rescue, the amount of credit available to the insurer would reduce as it repaid borrowed amounts, the agency said.
    '''The company will have to demonstrate independent access to the capital markets and secure standby lines of credit,''' Millstein said. More...

  • Aug-23-2009 -- Moody's: Slower Growth Could Spark Ratings Downgrades
    Moody's downgraded Bahrain's local and foreign currency government debt ratings on Monday by one notch to A3, citing a deterioration in the Gulf state's fiscal flexibility to meet potential banking sector liabilities.
    Bahrain'''s sovereign credit ratings were lowered by Moody'''s Investors Service, which said higher oil prices were needed by the government to balance its budget and cited the negative outlook on the banking sector. More...

  • Aug-23-2009 -- Summary Box: China Construction Bank Profit Rises
    HONG KONG, Aug. 22 (Xinhua) -- China Construction Bank (CCB), the country's second largest bank, said Sunday its net profit in the first half of this year jumped 27 percent to reach 70.78 billion yuan (10.4 billion U.S. dollars) from a year earlier and its non-performing loan (NPL) ratio dropped to 1.22 percent.
    China'''s yuan rose 0.1 percent last week to 6.7902 per dollar after a government report showed the current-account surplus increased in the second quarter, fueling speculation the central bank will allow greater flexibility in the currency. More...

Monday


  • Aug-23-2009 -- Yen Gains, Japan Stocks Fall on Concern Recovery Slowing; Aussie Weakens
    The Japanese market is trading notably lower today with investors indulging in some selling in several front line stocks amid concerns about the global economy on the back of recent disappointing economic reports from the U.S and parts of Europe.
    France has pledged to cut the budget deficit to 6 percent of the economy next year and to 3 percent by 2013 from about 8 percent in 2010. More...

  • Aug-23-2009 -- Firefighters take to the streets for MDA
    For 56 years, dedicated firefighters across North America have raised money for Jerry's Kids and the Muscular Dystrophy Association.
    MDA hopes to raise $40,000 during the lock-up, and all proceeds from the event will help support MDA services and research programs, including transportation services, support groups and local clinics. More...

  • Aug-23-2009 -- PA senator says US should regulate gas drilling
    Aug. 21--DIMOCK TWP. -- U.S. Sen. Bob Casey met for the first time with a group of families whose drinking water was impacted by natural gas drilling during a Friday afternoon tour of the positive and negative aspects of Marcellus Shale drilling in this small Susquehanna County town.
    Much of the forum was focused on the current state of drilling with a review of all the mistakes of energy extraction in the past. More...

  • Aug-23-2009 -- Sinopec Margins Set to Extend Slump as Fuel Prices Trail Crude
    In the first half of 2010, the Company's total capital expenditure was RMB 34.796 billion.
    Second-quarter profit fell 10 percent to 19.68 billion yuan from a year earlier, according to calculations made by Bloomberg News by subtracting first-quarter results from first-half earnings. More...

  • Aug-23-2009 -- BP 'Fishes' for Pipe That May Help in Gulf Spill Investigations
    BP ran pressure tests Thursday and Friday to see if the cement seals in the well are durable enough to allow the company to remove the blowout preventer and other equipment at the top of the well without causing oil to start leaking again.
    The pressure test measures "pressure in the well bore above the cement plug, as monitored at the capping stack," and you can see the raw data here: http://www.deepwaterhorizonresponse.com/go/doc/2931/861755/ . More...

  • Aug-23-2009 -- Alabama unemployment lowest since April 2009
    Unemployment rate remains unchanged in July.
    The jobless rate in the Birmingham-Hoover metro area skidded to 9 percent in July from 10 percent in June, hitting the lowest level in 14 months, state officials said Friday. More...

  • Aug-23-2009 -- Cruise, car love bring the generations together
    Mary Ann Cesarek, a screen-printer from Eastpointe, who has a stand on Woodward Avenue selling hats and T-shirts, said people are still worried about jobs, and the economy remains down.
    "There's a lot of cool cars. More...

  • Aug-23-2009 -- Briefs: $25000 reward set in heists at 11 banks
    The FBI division out of New Orleans has announced a $20,000 reward for information leading to the serial bank robber's capture.
    More...

  • Aug-23-2009 -- Foster's Advances in Sydney After Report of $10.9 Billion SABMiller Bid
    The Sunday Times of London said the London-listed SAB Miller (SAM) had lined up Carlton United Breweries (CUB), which brews Victoria Bitter and Carlton Draught.
    SABMiller is planning to buy Carlton & United Breweries, the beer making part of Foster's, the paper said. More...

  • Aug-23-2009 -- Intel/McAfee, iPad: Weekly Tech Recap
    To polish up Documentum for sale, DeWalt led the company through nine consecuritve quarters of growth, including four acquisitions.
    Oliver Friedrichs, CEO of startup Immunet, who has made career stops at McAfee and Symantec, contends that suppliers offering free basic protection tied to upselling will inevitably overtake the giants who market free-trial versions on new PCs. More...

  • Aug-23-2009 -- Teamsters say Coca-Cola Enterprises workers will vote Oct. 7 on union ...
    Coca-Cola Enterprises (CCE), the world's largest marketer, producer, and distributor of Coke products, announced plans in July 2010 to shut down 3 facilities in economically-distressed parts of Washington State.
    Washington Teamsters United, which includes Teamsters Local Unions 38, 117, 174, 252, 313, and 589, represents approximately 500 Coke employees at four Western Washington area locations. More...

  • Aug-23-2009 -- Unhappy days for flight attendants
    A s Tattoo almost said on Fantasy Island, "Deplane, boss, deplane."
    Slater, on the other hand, has helped thousands of passengers fly more safely and comfortably, and his recent moves have entertained millions. More...

Sunday


  • Aug-22-2009 -- CCB 1st-Half Net Profit Up 27% Amid Slower Loan Growth
    China Construction Bank (CCB), the country's second largest bank, said Sunday its net profit in the first half of this year jumped 27 percent to reach 70.78 billion yuan (10.4 billion U.S. dollars) from a year earlier and its non-performing loan (NPL) ratio dropped to 1.22 percent.
    BOT Vice President Yang Feng-yen said that after the BOT and the Hong Kong arm of Bank of China signed a cash settlement agreement July 26, the BOT was allowed to buy yuan cash with U.S. dollars. More...

  • Aug-22-2009 -- HP faces crucial decision in how to follow Hurd
    Hewlett-Packard Co. will take another stab Thursday at reassuring investors of the company's prospects without Mark Hurd, the CEO who was ousted over falsified expense reports connected to an HP marketing contractor he had a personal relationship with.
    Total revenue rose 11.7 per cent to $30.7bn from a weak quarter the previous year, driving net income up 6.1 per cent to $1.77bn, or 75 cents a share, well above Wall Street estimates. More...

  • Aug-22-2009 -- As 401(k) Levels Rise, So Do Withdrawals
    Granted, the IRS has a pretty loose definition of '''hardship,''' judging by this part of the press release accompanying Fidelity'''s report: '''Plan sponsors report that the top reasons why participants are taking hardship withdrawals are to prevent foreclosure or eviction, pay for college and the purchase of a primary residence.'''
    The short term and long term financial effects are quite serious as people worry about layoffs coupled with a diminished ability to plan for retirement. More...

  • Aug-22-2009 -- Cruise, car love bring the generations together
    After the fear and misery of 2009, the Woodward Dream Cruise arrives Saturday as a late-summer celebration of Detroit and Michigan surviving the global economic meltdown.
    Self-described "early" cruiser Ed Aulph has spent the past year researching and locating dozens of displaced drive-ins along Woodward Avenue from Ferndale to Bloomfield Hills. More...

  • Aug-22-2009 -- Harold Dow Broke Barriers, Landed Exclusives
    According to reports the CBS News correspondent Harold Dow has died at the age of 62.
    American news correspondent, journalist and investigative reporter Harold Dow ''' best known for his work on CBS'''s '''48 Hours''' documentary program ''' sadly passed away on Saturday morning at the age of 62, CBS spokeswoman Louise Bashi has confirmed. More...

  • Aug-22-2009 -- Unhappy days for flight attendants
    A s Tattoo almost said on Fantasy Island, "Deplane, boss, deplane."
    Perhaps best of all, the millions of service workers and frustrated airline passengers out there don't have to romanticise a crook. More...

  • Aug-22-2009 -- Details Faulted in Plan to Pay Oil Spill Claims
    The guidelines for interim payments leave unanswered some broader legal questions about how Mr. Feinberg will handle payments for damages to property owners, fishermen, resorts and other businesses and individuals hit by the spill.
    Claimants can pick up forms at one of the 35 claims centers or online at www.gulfcoastclaimsfacility.com ]] www.gulfcoastclaimsfacility.com . More...

  • Aug-22-2009 -- Sinopec 1H Net Profit Rises 6.7%; Above Expectations
    Sinopec put revamping and expansion facilities into operation in an effort to accelerate the improvement of oil products quality.
    The company's turnover, other operating revenues and other income for the period, amounted to RMB 936.5 billion, up 75.4% over the last year period. More...

  • Aug-22-2009 -- Yahoo May Buy a Stake in Hulu, Stifel Nicolaus Says
    Yahoo, owner of the second-most popular U.S. Internet search engine, would consider acquiring a stake in Hulu to solidify itself as an entertainment destination and a "must- buy" for advertisers, Jordan Rohan, an analyst with Stifel Nicolaus in New York, wrote in a note today.
    Enough with Yahoo's spate of small-scale deal making; Stifel Nicolaus analyst Jordan Rohan suggests in a report today that Yahoo ( NSDQ: YHOO ) should either buy Hulu or take a "significant stake" in the video site, saying that Hulu's reported interest in an IPO opens it up to other types of deals too. More...

  • Aug-22-2009 -- Bill Ford: GM's buzz won't hurt Ford stock
    According to a Bloomberg article written by Tim Higgins, he points to the fact that The Blue Oval stock has fallen after its one-year high of $14.57.
    The previous recent low was the price level of $11.80 seen on August, 18. More...

  • Aug-22-2009 -- @theMarket: What Is the Bond Market Telling Us?
    Despite the reams that have been written about Americans' torrid romance with bonds, stocks continue to get the bulk of the money that investors are committing to mutual fund portfolios.
    Missing in the big Stocks versus Bonds debate that's raging right now is the fact that there is always a middle ground.'' More...

  • Aug-22-2009 -- Mexican Investor Group, Pilots' Union Buy Mexicana After Bankruptcy Filing
    The pilots''' union owns 5 percent of the company, said Perfecto, who was involved in the negotiations.
    More...

Sunday


  • Aug-22-2009 -- Unhappy days for flight attendants
    A s Tattoo almost said on Fantasy Island, "Deplane, boss, deplane."
    Sometimes we accidentally seat you 20 rows from your 3-year-old. More...

  • Aug-22-2009 -- Details Faulted in Plan to Pay Oil Spill Claims
    The guidelines for interim payments leave unanswered some broader legal questions about how Mr. Feinberg will handle payments for damages to property owners, fishermen, resorts and other businesses and individuals hit by the spill.
    Lea was told that BP will not pay claims from Florida for May because no oil had washed ashore at that time. More...

  • Aug-22-2009 -- Restructuring market for secondary mortgages may curb affordable rental units
    The House Financial Services Committee and Capital Markets Subcommittee have held five hearings on housing finance in 2010, and the FHFA oversight hearing is one of two new hearings on the topic planned for September.
    Frank cited that GSE loss already cost taxpayers almost $150bn to date and the bill looks set to rise. More...

  • Aug-22-2009 -- Woodward Dream Cruise
    Mary Ann Cesarek, a screen-printer from Eastpointe, who has a stand on Woodward Avenue selling hats and T-shirts, said people are still worried about jobs, and the economy remains down.
    New to the Cruise is a food drive in downtown Pontiac on Friday and Saturday. More...

  • Aug-22-2009 -- Creditors Scuttle Tribune's Plan
    WILMINGTON, Del. — The Tribune Co.' s plan to emerge from bankruptcy has blown up after the failure of negotiations with creditors on a consensual reorganization plan.
    Under the plan Gordon & Co, Angelo and JP Morgan Chase would have been amongst the new owners of the properties of Tribune. More...

  • Aug-22-2009 -- Jobless claims jump to nine-month high
    The total number of people collecting some type of unemployment benefits in the week ended July 31 was about 9.8 million, up about 192,000 from the prior week.
    '''The weaker the labor market is, the weaker the recovery and consumer spending.''' More...

  • Aug-22-2009 -- Bill Ford: GM's buzz won't hurt Ford stock
    According to a Bloomberg article written by Tim Higgins, he points to the fact that The Blue Oval stock has fallen after its one-year high of $14.57.
    GM's return to profitability and pending IPO part of a winning streak for President Obama, which also including the end of Operation Iraqi Freedom and handling of the BP oil spill. More...

  • Aug-22-2009 -- HP faces crucial decision in how to follow Hurd
    Hewlett-Packard Co. will take another stab Thursday at reassuring investors of the company's prospects without Mark Hurd, the CEO who was ousted over falsified expense reports connected to an HP marketing contractor he had a personal relationship with.
    At 2.40PM (EDT), HP shares were trading down 2.38 percent at $39.79. More...

  • Aug-22-2009 -- American Indian Tribe Miffed by Bloomberg Remark Sues to Block NY Cigarette Tax
    Russell Sciandra, director of the Center for a Tobacco-Free New York, said the U.S. Supreme Court has given states the right to collect taxes on Indian cigarette sales.
    Jack Kemp Fox News reports that Mayor Michael Bloomberg, the same person who was browbeating fellow New Yorkers about their "intolerant" opposition to a mosque near Ground Zero, has insulted the Seneca Nation tribes while complaining about not being fully taxed on sales of cigarettes. More...

  • Aug-22-2009 -- Bedbugs found in basement of Empire State Building
    '''Just as the world will never tolerate a drilling rig next to the Statue of Liberty, why should governmental bonuses and waivers be granted to allow a structure as tall and bulky at 15 Penn Plaza to be built 900 feet away from New York City'''s iconic landmark and beacon?''' wrote Anthony Malkin, owner of the Empire State Building, on behalf of the skyline'''s friends.
    The bedbugs that have already claimed Hollister , Elle , and the Brooklyn D.A. office as their victims have now made their way over to the Empire State Building, the city's most iconic 85 stories. More...

  • Aug-22-2009 -- Pain of bank seizure ripples through Sonoma Valley
    To protect depositors, the FDIC sold failed Los Padres Bank to Pacific Western Bank, San Diego, California, which will assume all deposits and purchase essentially all assets of Los Padres.
    According to the terms of the transaction, Pacific Western Bank would purchase certain assets, including all loans, and assume all deposits. More...

  • Aug-22-2009 -- FPL agrees to freeze base rates through 2012
    Under the new agreement, FPL would be able to change that each year through 2012.
    Under the agreement, FPL would be able to change the pay back schedule each year through 2012. More...





Saturday


  • Aug-21-2009 -- As 401(k) Levels Rise, So Do Withdrawals
    Granted, the IRS has a pretty loose definition of '''hardship,''' judging by this part of the press release accompanying Fidelity'''s report: '''Plan sponsors report that the top reasons why participants are taking hardship withdrawals are to prevent foreclosure or eviction, pay for college and the purchase of a primary residence.'''
    If you want to be able to get to your money any time you want, stop contributing to your retirement plans and put that extra money in the bank. More...

  • Aug-21-2009 -- Pension Fraud in New Jersey Puts Focus on Illinois
    The Securities and Exchange Commission'''s fraud case against New Jersey may presage a wave of lawsuits seeking to crack down on misdeeds by public officials who raise money in the $2.8 trillion municipal bond market.
    The lack of adequate guidelines, the SEC said, falsely led bond investors to believe the state would make full contributions to the funds. More...

  • Aug-21-2009 -- Legal Briefing: BofA's Ex-CEO Comes Out Swinging at NY AG's Charges
    Attorney General Andrew Cuomo's zest for florid language and sweeping statements against Wall Street "hubris" is great for his image as a crusader on behalf of the little guy.
    In most cases, banks push to settle with regulators to avoid a fresh wave of private litigation. More...

  • Aug-21-2009 -- Treasurys Fall After Hitting New Highs Earlier
    Well, if you're scared and nervous, maybe that is the right place to be.
    In Germany, Japan and Britain the story is similar (see chart 2). More...

  • Aug-21-2009 -- Gasoline prices should fall after Labor Day
    California gasoline prices dropped this past week after reaching their highest levels of 2010 in many areas, according to price surveys Friday.
    While the EIA forecast crude prices could average around $81 in the second half of the year, prices slid again last week to $75 per barrel, sending prices at the pump down as well. More...

  • Aug-21-2009 -- HP faces crucial decision in how to follow Hurd
    Hewlett-Packard Co. will take another stab Thursday at reassuring investors of the company's prospects without Mark Hurd, the CEO who was ousted over falsified expense reports connected to an HP marketing contractor he had a personal relationship with.
    Unsurprisingly, HP executives chose to focus on the company's metrics and revenues during the Aug. 19 earnings call. More...

  • Aug-21-2009 -- BILL FORD: GM's buzz won't hurt Ford stock
    According to a Bloomberg article written by Tim Higgins, he points to the fact that The Blue Oval stock has fallen after its one-year high of $14.57.
    Although the company hasn't specified the price or size of the offering, GM's (GM) IPO is expected to raise about $16 billion, making it the second-largest in U.S. history. More...

  • Aug-21-2009 -- Pellegrini's Hedge Fund to Return Money to Investors
    BOSTON (Reuters) - Disappointed with heavy losses this year, hedge fund manager Paolo Pellegrini plans to return his investors' money next month, a source familiar with his plans said on Friday.
    A day after Stanley Druckenmiller announced he was retiring after 30 years, Paolo Pellegrini has also announced he is closing up shop. Last year, PSQR Capital earned more than 60% in its inaugural year. More...

  • Aug-21-2009 -- Corinthian Colleges 4Q net income grows by 46 pct.
    The Department of Education can suspend a school's access to federal financial aid if the default rate is 25 percent or greater for three years in a row.
    The high estimate calls for profit of $0.4 a share and the low estimate is calling for a profit of $0.37 a share, a year ago for the quarter the company reported $0.31 a share. More...

  • Aug-21-2009 -- The Color of Money: Basic lessons on credit cards for students
    J.D. Power's customer satisfaction index rose 9 points to 714 on a 1,000-point scale, up from 705 points last year.
    Can Credit Cards Improve Your FICO Score? - It'''s well known that carrying too much credit card debt or missing credit card payments will hurt one'''s credit score. More...

  • Aug-21-2009 -- Hospira CEO Begley, COO Kearney to retire
    James H. Hardy, currently corporate vice president of supply chain, will assume a new role of senior vice president, operations, starting Dec. 31.
    Hospira Inc., a Lake Forest-based medical products company, said today that its CEO, Christopher B. Begley, will retire and become executive chairman after his successor is named. More...

  • Aug-21-2009 -- Carstens Keeps Mexico Rate at 4.5% Even as GDP Surges Most in 12 Years
    The monetary policy statement again noted that manufacturing output and exports "continue to grow at an accelerated pace" but said that could moderate as a result of the slowing U.S. economy.
    The Bank of Mexico released another cautiously optimistic monetary policy statement Friday citing the better-than-expected inflation outlook, strong but moderating output and improving demand in its decision to remain on hold. More...

Saturday


  • Aug-21-2009 -- Details Faulted in Plan to Pay Oil Spill Claims
    The guidelines for interim payments leave unanswered some broader legal questions about how Mr. Feinberg will handle payments for damages to property owners, fishermen, resorts and other businesses and individuals hit by the spill.
    WASHINGTON — Recipients of money from BP's 20-billion-dollar oil spill compensation fund will likely be required to waive their right to sue any firm involved in the disaster along the U.S. Gulf Coast, The New York Times reported Friday. More...

  • Aug-21-2009 -- Post-bankruptcy plan for Tribune Co. unravels
    Attorneys are telling a Delaware bankruptcy judge that the company has been unable to bring parties in the case together.
    The owner the Los Angeles Times, Chicago Tribune and more than 20 television stations told a court that talks about how to repay creditors, which continued past the hearing's scheduled start, had failed. More...

  • Aug-21-2009 -- Treasurys Fall After Hitting New Highs Earlier
    Bernstein, a medical doctor who studies economic history as a hobby, agrees with Cohen that investors should exit Treasury bond funds as soon as possible and hold individual bonds.
    TORONTO (Dow Jones)--Canadian bonds ended mixed Wednesday as the market took direction from U.S. Treasurys amid a continuing reassessment of the prospects for global growth. More...

  • Aug-21-2009 -- Trichet's Successor as ECB Head Doesn't Need to Be a Diplomat, Weber Says
    NEW YORK (Reuters) - The U.S. dollar rose against major currencies on Friday as heightened worries about the global economy and declines in stock prices sent investors to the greenback for safety.
    The Japanese yen and U.S. dollar advanced against majors on Friday on fears with regard the strength of global recovery, especially after Axel Weber, European central member, said the ECB should not withdraw stimulus till at least the first quarter of 2011 as he sees that it is too early to remove the non-standard measures amid the escalating fiscal woes. More...

  • Aug-21-2009 -- Stocks slide as investors' malaise continues
    About three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.1 billion shares.
    Dell rose 3 cents to $12.07. More...

  • Aug-21-2009 -- HP faces crucial decision in how to follow Hurd
    Hewlett-Packard Co. will take another stab Thursday at reassuring investors of the company's prospects without Mark Hurd, the CEO who was ousted over falsified expense reports connected to an HP marketing contractor he had a personal relationship with.
    It was on August 6 that HP's then Chairman, Chief Executive Officer and President, Mark Hurd, resigned with immediate effect, following an investigation of sexual harassment allegations against Hurd and HP by a former contractor to HP. The company then appointed CFO Cathie Lesjak as CEO on an interim basis. More...

  • Aug-21-2009 -- As 401(k) Levels Rise, So Do Withdrawals
    Granted, the IRS has a pretty loose definition of '''hardship,''' judging by this part of the press release accompanying Fidelity'''s report: '''Plan sponsors report that the top reasons why participants are taking hardship withdrawals are to prevent foreclosure or eviction, pay for college and the purchase of a primary residence.'''
    A.2% increase in the number of hardship withdrawals might not seem like much, but for Fidelity that means something like 17,000 participants, and look at the reason for the withdrawals: to avoid foreclosure, pay for college, purchase a home. More...

  • Aug-21-2009 -- July unemployment: DC rate falls to 9.8%; Md. and Va. stay around 7%
    According to a report released Wednesday by the Bureau of Labor Statistics in the U.S., 6.8 million Americans lost their job in the last quarter of 2009, running from September to December 2009.
    Your are correct, bearway. More...

  • Aug-21-2009 -- Bank's ex-CEO wants fraud charge dismissed
    NEW YORK Bank of America Corp.' s former chief executive, Kenneth Lewis, has asked a judge to throw out the New York attorney general's lawsuit accusing him of fraud when he led the bank's purchase of Merrill Lynch & Co. Allegations by Attorney General Andrew Cuomo are implausible, Lewis's lawyers said in documents filed this week with the state Supreme Court in Manhattan.
    In most cases, banks push to settle with regulators to avoid a fresh wave of private litigation. More...

  • Aug-21-2009 -- Campaign Contributions Fallout for Target, Gilt
    Target's contribution to MN Forward was at worst a small error of judgment, and should matter far less than the company's ongoing and long-term commitment to workplace equal rights and its sponsorship of pro-gay events.
    The donation, which came from Target's business account rather than an internal political action committee, stemmed from the Citizens United decision, which overturned a long-standing ban on corporate political activity. More...

  • Aug-21-2009 -- Analysis: Dollar becomes funding currency as yields tumble
    China bought a net 1.7 trillion yen of short and longer-term Japanese debt in the first half of the year, a major increase from recent years.
    The euro slipped to $1.2865 in late New York trading from $1.2883 late Tuesday, while the British pound rose to $1.5608 from $1.5569. More...

  • Aug-21-2009 -- Mexico Keeps Benchmark Rate at 4.5% as Concern Mounts Over US Recovery
    The monetary policy statement again noted that manufacturing output and exports "continue to grow at an accelerated pace" but said that could moderate as a result of the slowing U.S. economy.
    The trend is now moving in the right direction. More...

Friday


  • Aug-20-2009 -- Mexico Keeps Benchmark Rate at 4.5% as Concern Mounts Over US Recovery
    '''Just to show some commitment, the central bank may choose to modestly hike the policy rate in 12 months,''' Cervera said before today'''s GDP report.
    Year-on-year, the GDP grew for the second straight quarter. More...

  • Aug-20-2009 -- Feinberg Pledges to Issue Spill Checks to Individuals Within Day of Claim
    Wednesday was the last day people who suffered losses related to the oil spill could file a claim with BP. On Monday BP hands the process over to the independent Gulf Coast Claims Facility, headed by attorney Kenneth Feinberg.
    The protocol for final claims will be issued "in the near future," according to Feinberg's office. More...

  • Aug-20-2009 -- Hormel posts profit beat, raises forecast
    Shares of AnnTaylor are up 23 cents to $15.70 in early market movement Friday.
    The high estimate calls for profit of $0.63 a share and the low estimate is calling for a profit of $0.55 a share, a year ago for the quarter the company reported $0.57 a share. More...

  • Aug-20-2009 -- Salesforce, Marvell gains highlight tech action
    Revenue: $896 Million, Up 5 Percent Sequentially SANTA CLARA, Calif., Aug. 19 /PRNewswire-FirstCall/ -- Marvell Technology Group Ltd. (Nasdaq: MRVL), a global leader in integrated silicon solutions today reported financial results for the second quarter of fiscal 2011, ended July 31, 2010. (Logo: http://photos.prnewswire.com/prnh/20100719/SF36559LOGO-b) (Logo: http://www.newscom.com/cgi-bin/prnh/20100719/SF36559LOGO-b) Net revenue for the second quarter of fiscal 2011 was $896 million, a 40 percent increase from $641 million in the second quarter of fiscal 2010, ended August 1, 2009, and a 5 percent sequential increase from $856 million in the first quarter of fiscal 2011, ended May 1, 2010.
    SmarTrend alerted subscribers to take profits in Marvell Technology on May 06, 2010 at $18.53, since then the stock fell 19.5%. More...

  • Aug-20-2009 -- Treasuries Heading For Weekly Advance as US Reduces Size of Bond Sales
    The spread reached negative 46.25 basis points Aug. 16, the tightest since April 2009.
    The U.S. central bank, using funds from maturing mortgage securities, said on Tuesday it bought $2.55 billion of government debt maturing in 2014 and 2016. More...

  • Aug-20-2009 -- US stocks fall as recovery fears weigh
    Dell reported second quarter adjusted earnings of $0.32 per share on $15.5 billion in revenues, while analysts had expected the company to earn $0.30 per share on $15.2 billion in revenues.
    The stock market booked a big gain on Tuesday, but there hasn'''t been much follow through. More...

  • Aug-20-2009 -- JM Smucker 1Q Earnings Miss Expectations, Improves Full Year View
    Revenue for the Ohio-based company was $1.05 billion, compared with $1.1 billion a year ago, and narrowly missing the Street'''s view of $1.07 billion.
    The high estimate calls for profit of $1.02 a share and the low estimate is calling for a profit of $0.89 a share, a year ago for the quarter the company reported $0.92 a share. More...

  • Aug-20-2009 -- Ann Taylor swings to profit, expands buyback
    For the fiscal third quarter of 2010, Ann Taylor expects total net sales to approach $495 million, reflecting mid to high single-digit comparable sales.
    "Our significantly improved inventory position facilitated our ability to drive higher margin sales by being more selective with our promotional activity while at the same time being more responsive to changes in consumer fashion trends," stated Ken C. Hicks, Chairman of the Board and Chief Executive Officer of Foot Locker, Inc. "We are pleased to report our second consecutive quarter of sales and profit growth, versus the comparable periods of last year, as we continue to implement our new strategic plan." More...

  • Aug-20-2009 -- Colorado jobless rate holds steady at 8 percent
    According to a report released Wednesday by the Bureau of Labor Statistics in the U.S., 6.8 million Americans lost their job in the last quarter of 2009, running from September to December 2009.
    Over the past 20 years, the U.S. economy has generated, on average, 100,000 new jobs per month or 1.2 million new jobs per year. More...

  • Aug-20-2009 -- Corinthian 4Q Net Up 46% On Student Growth; View Mixed
    The company also said it sees first-quarter earnings of 38 cents to 41 cents a share, below the 45 cents analysts were looking for.
    Capital expenditures were $83.5 million in fiscal 2010 versus $49.5 million in the prior fiscal year. More...

  • Aug-20-2009 -- Ted Moore Says Hewlett-Packard Shares `Undervalued': Video
    Hewlett-Packard Co. will take another stab Thursday at reassuring investors of the company's prospects without Mark Hurd, the CEO who was ousted over falsified expense reports connected to an HP marketing contractor he had a personal relationship with.
    Like its rivals on the PC market, IT giant HP has posted its financial results for the latest FY quarter, which happens to be the third one in Fiscal Year 2010, and while it seems to have scored a reasonable on-year increase, it failed to prevent its revenues from slipping sequentially. More...

  • Aug-20-2009 -- Office Memo: Bed Bugs Are Back
    "Bed bugs have been hitch-hiking on human beings ever since the beginning of history.
    "We can't tear apart a home but identify areas like the bedframe and box spring. More...

Friday


  • Aug-20-2009 -- More offices see bedbug infestations
    "Bedbugs have been hitch-hiking on human beings ever since the beginning of history.
    While feeding, they inject a tiny amount of their saliva into the skin. More...

  • Aug-20-2009 -- Well to Be Sealed After Labor Day
    HOUSTON -(Dow Jones)- The U.S. government expects to decide Tuesday or Wednesday on the best way to proceed with a final operation using a relief well to permanently seal the Gulf of Mexico oil leak, the top federal official overseeing the spill recovery said Monday.
    Hopefully that will go to the people and business's of Louisiana. More...

  • Aug-20-2009 -- CORRECT: Dell 2Q Profit Improves 15% On Higher Revenue
    In the fiscal second quarter, which ended July 30, companies started spending more on PCs for employees, as well as on servers, storage and technology consulting services, compared with the previous year.
    "Looking forward, we'''re committed to our strategy of growing sales and market share in North America as we also invest in our long-term global and online growth initiatives." More...

  • Aug-20-2009 -- Jobless claims up to highest level since November
    The total number of people collecting some type of unemployment benefits in the week ended July 31 was about 9.8 million, up about 192,000 from the prior week.
    Thursday's job claims data "indicates that the pace of firings and layoffs has increased and is a negative signal for the employment report in two weeks' time," said analyst Michael Gapen of Barclays Capital. More...

  • Aug-20-2009 -- Gap Warns of Higher Inventory
    The company reported a loss of 14c during the same quarter last year on sales of $9.43 million.
    By the end of fiscal 2010, Gap will offer online shopping in another 10 countries. More...

  • Aug-20-2009 -- First Niagara to Acquire Rival Bank for $1.5 Billion
    First Niagara ( FNFG ) has agreed to acquire Newalliance ( NAL ) for $14.06 per share in stock, or about $1.5 billion.
    According to Thompson/First Call, at least one analyst has set a price target of $15.00 per share for NewAlliance stock. More...

  • Aug-20-2009 -- Professional investors move into flipping foreclosed homes
    The median price paid for all new and resale houses and condos combined was $402,000, down 2% from June but up almost 2% from July 2009 in San Francisco, Alameda, Marin, Contra Costa, Napa, Santa Clara, San Mateo, Solano and Sonoma counties.
    In July, 6,773 homes sold in the nine county Bay Area region. More...

  • Aug-20-2009 -- Oil Trades Near Six-Week Low on Signs Economic Recovery Slowing
    Written by John King Distillate fuels, which include heating oil, have risen by 1.1 million barrels, a new report has revealed.
    Right now, oil trades right along with stocks and other "risk assets." More...

  • Aug-20-2009 -- Petrobras May Delay $25 Billion Share Sale, Two Government Officials Say
    RIO DE JANEIRO, Aug 19 (Reuters) - A consulting firm hired by Brazil's government has valued oil reserves to be used in an oil-for-shares capital plan for state-run company Petrobras at $10 to $12 per barrel, a local newspaper reported on Thursday.
    S&P and rival ratings companies Moody's Investors Service and Fitch Ratings all rate Petrobras as investment-grade, allowing the oil company to borrow at cheaper interest rates. More...

  • Aug-20-2009 -- WSJ: GM Hires Perry From Hyundai To Lead Chevrolet Marketing
    Chris Perry, who was named vice president of marketing at Hyundai just three months ago, will replace Campbell as vice president of marketing.
    After vehement reaction, Chevrolet backed away from the letter, calling it a "poorly worded memo," and said the brand did not want to take for granted the public's passion for Chevy vehicles. More...

  • Aug-20-2009 -- Salesforce.com raises full year outlook
    Shares of the company rose 7.9 percent in after-hours trading as it also reported adding 5,100 net new customers in the quarter.
    Salesforce.com delivered the following results for the second quarter: Revenue: Total Q2 revenue was $394 million, an increase of 25% on a year-over-year basis. More...

  • Aug-20-2009 -- Mortgage rates fall to fresh lows, Freddie Mac says
    Mortgage rates have set record lows for the eighth time in nine weeks, and the bargain-basement rates are prompting homeowners to file the most home-refinancing applications in 15 months.
    Just how expensive was revealed yesterday in new data published by Moneyfacts, the personal finance data analyst. More...

Thursday


  • Aug-19-2009 -- EU executive applauds Greek austerity
    BRUSSELS (MNI) - Greece's efforts to cut its budget deficit are going faster than planned, paving the way for the country to receive an additional E9 billion in loans later this year, the European Commission said on Thursday.
    "Greece has managed impressive budgetary consolidation during the first half of 2010 and has achieved swift progress with major structural reforms," said European Economic and Monetary Affairs Commissioner Olli Rehn. More...

  • Aug-19-2009 -- Staples sales miss, sees tax hit on earnings
    Staples missed analysts' estimates - analysts had expected the retailer to report full-year earnings of $1.35 per share and third quarter earnings of $0.43 per share.
    Looking forward, Dick's sees earnings in the third quarter in the range of 15 cents to 16 cents per share, compared to the Street'''s view of 18 cents per share. More...

  • Aug-19-2009 -- Dollar Drops After Jobless Claims, Philly Fed; Euro, Franc Rise
    In a day that lacks of any economic news released by the U.S. the U.S. Dollar advanced heavily against the Euro after fears concerning the European Debt crisis resurfaced as the pair trades really close to support levels that will be discussed in a following paragraph.
    '''If the data worsens between now and the fall, we expect the Fed to initiate a full-blown quantitative easing program,''' said Thomas L. di Galoma, head of U.S. rates trading at Guggenheim Partners LLC, a New York-based brokerage for institutional investors. More...

  • Aug-19-2009 -- German Stocks Fall on US Economy; HeidelbergCement Drops
    Germany's central bank, the Bundesbank, on Thursday raised the country's economic growth forecast sharply to about 3 percent for 2010 due to unexpectedly strong exports in the second quarter.
    Initial and continuing jobless claims in the U.S. are expected to fall back during the first two-weeks of August, while the leading indicator is forecasted to increase 0.1% in July after contracting 0.2% in the previous month, and the data could support the rise in market sentiment as the outlook for future growth improves. More...

  • Aug-19-2009 -- Index of US Leading Economic Indicators Rose 0.1% in July
    WASHINGTON (Reuters) - A key gauge of the U.S. economy's prospects was slightly higher in July, pointing to a "slow expansion through the end of the year," a private research group said on Thursday.
    The Federal Reserve Bank of Philadelphia'''s general economic index unexpectedly dropped to minus 7.7 in August from 5.1 last month, reflecting fewer orders and sales. More...

  • Aug-19-2009 -- Dick's 2Q net income jumps 32 pct as sales rise
    Analysts polled by Thomson Reuters expected, on average, earnings of 41 cents per share on $1.22 billion in revenue.
    The Findlay-based retailer's quarterly profit is up by 32 percent from the $38.93 million, or 33 cents per share, reported a year ago. More...

  • Aug-19-2009 -- 'Bottom kill' of leaky Gulf well still weeks away
    HOUSTON -(Dow Jones)- The U.S. government expects to decide Tuesday or Wednesday on the best way to proceed with a final operation using a relief well to permanently seal the Gulf of Mexico oil leak, the top federal official overseeing the spill recovery said Monday.
    We have created the pressure inside the BOP that's slightly above that, right around 25 to 100 PSI. This allows us to test for the performance of the well and the integrity of the well with the cement in it. More...

  • Aug-19-2009 -- Retailers Lower After Disappointing Sears Results
    Respite Kmart's performance boost the Sears and Kmart lost 35 cents per share and the revenue slipped to $10.46 billion.
    New reports showed that Japan's GDP, or gross domestic product rose only 0.4% to $1.29 trillion; analysts' were expecting the country's GDP to rise by 1.2%. More...

  • Aug-19-2009 -- US GAS: Futures Fall, Despite Smaller-Than-Expected Inventory Build
    Natural gas prices rose 6.3 cents to $4.302 per 1,000 cubic feet in morning trading on the New York Mercantile Exchange.
    About 23 percent of U.S. electricity is generated using natural gas, according to the Energy Department. More...

  • Aug-19-2009 -- Wheat Jumps Back to $7 Range on Russia Crop Worry
    Wildfires have destroyed a fifth of wheat crops in Russia, the world's thrid largest wheat exporter, and a record drought in over a century is still threatening the country's crop harvests.
    As it is, there has been consolidation around $6.50 a bushel." More...

  • Aug-19-2009 -- Food sales help boost Dollar Tree 2Q net income
    Cash-strapped consumers continued to flock to Dollar Tree stores into the summer, helping boost profits for the all-for-$1 retailer by 37 percent in the second quarter from the same period last year.
    Net sales for the quarter grew 12.7% to $1.38 billion from $1.22 billion in the same quarter last year. More...

  • Aug-19-2009 -- Treasuries Pare Losses as Initial Jobless Claims Rise More Than Forecast
    According to the Web site for the Federal Reserve Bank of New York, the Fed plans to buy $18 billion in Treasuries over the next month, purchasing Treasury bonds and notes in maturities ranging from 2 to 10 years.
    Ten-year rates will increase to 3.17 percent, according to a Bloomberg survey of banks and securities companies with the most recent forecasts given the heaviest weightings. More...

Thursday


  • Aug-19-2009 -- JGBs up despite Nikkei as BOJ easing prospects grow
    Speculation has heightened that the BOJ may ease monetary policy further ahead of an expected meeting between Prime Minister Naoto Kan and BOJ Governor Masaaki Shirakawa next week, with the yen hovering just above a 15-year high against the dollar and threatening to hurt Japan's economy and fan deflation.
    Monday, the Prime Minister told Economy and Fiscal Policy Minister Satoshi Arai, Finance Minister Yoshihiko Noda and Minister of Economy, Trade and Industry Masayuki Naoshima to examine the current economic conditions and report back with specific proposals. More...

  • Aug-19-2009 -- BoCom, China Railway, Singamas: Hong Kong Equity Preview
    The broader market is also likely to be supported by a rally in U.S. stocks, which rose after strong earnings from consumer bellwethers and BHP Billiton Ltd's unsolicited $39 billion takeover bid for Potash Corp of Saskatchewan Inc bolstered confidence in the corporate outlook.
    China's biggest cement maker said first-half profit increased 39 percent to 1.8 billion yuan ($264.6 million). More...

  • Aug-19-2009 -- Asia Stocks Rise on Applied Materials Outlook; Ringgit, Taiwan Dollar Gain
    The company also posted better-than-expected results for the quarter that ended Aug. 1.
    The company sees fiscal Q4 EPS of 28-32 cents (vs. a 26-cent estimate) and sees fiscal Q4 sales of $2.52-$2.65 billion (vs. a $2.43 billion estimate). More...

  • Aug-19-2009 -- American Airlines offers seats up front for extra charge
    In a press release announcing the program, AA says "Express Seats are available to all American Airlines customers and can be purchased exclusively via airport Self-Service Check-In machines anytime from 24 hours to 50 minutes prior to scheduled flight departure for travel wholly within the United States, including Puerto Rico and the U.S. Virgin Islands."
    Today American Airlines began selling ''' express seats ''' in coach. More...

  • Aug-19-2009 -- Hewlett-Packard Hires Spencer Stuart to Find Next CEO
    SAN FRANCISCO, Aug 17 (Reuters) - Former Hewlett Packard Co ( HPQ.N ) contractor Jodie Fisher alleged that she lost work from the company because she did not have sex with ex-CEO Mark Hurd, a source with knowledge of the matter told Reuters on Tuesday.
    The Palo Alto, California-based company's market value has fallen about $14.4 billion since Hurd's resignation was announced after the Aug. 6 stock market close, including about $8.6 billion on Monday alone, Reuters data show. More...

  • Aug-19-2009 -- Hedge fund standout Druckenmiller says he's done
    NEW YORK Stanley Druckenmiller, the hedge fund icon who boasts one of the best long-term trading records and the distinction of having made $1 billion for George Soros by forcing a devaluation of the British pound in 1992, is closing his firm after 30 years.
    Treasury 30-year bonds rose, pushing yields to a 16-month low, as investors sought the highest- returning U.S. debt amid speculation the weakening economic recovery may prompt the Federal Reserve to boost debt purchases. More...

  • Aug-19-2009 -- Judge decries lenient treatment of banks but approves Barclays deal
    BARCLAYS Bank has agreed to forfeit $US298 million ($A333.6 million) to U.S. authorities to settle criminal charges brought this week by federal prosecutors.
    Barclays Bank has agreed to pay a $298m (''190m) fine to settle criminal charges that it broke U.S. economic sanctions. More...

  • Aug-19-2009 -- Wheat Advances for Second Day as Price Slump Lures Importers, Investors
    Wildfires have destroyed a fifth of wheat crops in Russia, the world's thrid largest wheat exporter, and a record drought in over a century is still threatening the country's crop harvests.
    A Canadian Wheat Board official told Thomson Reuters Wednesday that Canadian farmers will harvest an estimated 21 million tonnes of wheat, a slight increase from a government forecast in early July. More...

  • Aug-19-2009 -- RPT-UPDATE 1-NetEase Q2 profit up 4.5 pct, misses expectations
    The quarter-over-quarter increase in operating expenses was primarily due to marketing promotion for Fantasy Westward Journey and Blizzard Entertainment's World of Warcraft, increased bad debt provisions and increased share-based compensation cost relating to grants made under the Company's new restricted share unit plan in the current quarter.
    The Company recognized online game revenue of RMB10.4 million ( US$1.5 million ) from the clean-up of dormant accounts in the second quarter of 2010 as compared to RMB83.3 million for the same period of 2009 resulting from a change in our user agreement with online game players implemented in May 2009. More...

  • Aug-19-2009 -- BP to Bring in Blowout Preventer as It Awaits U.S. Orders on Macondo Well
    HOUSTON -(Dow Jones)- The U.S. government expects to decide Tuesday or Wednesday on the best way to proceed with a final operation using a relief well to permanently seal the Gulf of Mexico oil leak, the top federal official overseeing the spill recovery said Monday.
    Two potential solutions would be to work with the existing sealing cap on top of the well using what is called a "pressure relief method," or place a new blow-out preventer in place which would be able to handle any pressure coming from the blocked area. More...

  • Aug-19-2009 -- Enbridge Inc sees oil spill costs of C$6.6 million
    Calgary-based Enbridge is working to clean up the spilled oil in an effort involving more than 1,300 people as the outage of the 190,000 barrel a day pipeline, called Line 6B, complicates the North American oil and refining markets.
    Federal pipeline regulators said Enbridge should pay a steep fine, $2.4 million, for failing to safely and adequately perform maintenance and repairs, failing to properly train workers and failing to clear away materials that could ignite. More...

  • Aug-19-2009 -- GLOBAL MARKETS-Stocks eke out gain on mixed earnings, oil dips
    Crude oil for September delivery rose 53 cents, or 0.7 percent, to settle at $75.77 a barrel on the New York Mercantile Exchange.
    SINGAPORE (Dow Jones)--Crude oil futures rose in Asia trade Monday, despite weaker regional equities, as a weakening U.S. dollar opened up buying opportunities for traders following a decline of more than $5 a barrel in oil prices last week on concerns over global economic recovery. More...

Wednesday


  • Aug-18-2009 -- With Government Mortgage Guarantees, Risk Retention Isn't Needed
    Gross' suggestion is at odds with the Obama administration's housing rescue strategy, which has been focused on modifying failing mortgages to lower payments for struggling homeowners.
    Gross, who runs the world's largest bond fund, Pacific Investment Management Co. (Pimco), said keeping Fannie and Freddie as wards of the state may be the only permanent means of propping up the $11 trillion housing market. More...

  • Aug-18-2009 -- Deere 3Q Profit Jumps, Helped By Strong Demand
    Profit per share of $1.44 was 22 cents ahead of estimates.
    Shares of heavy equipment maker' Deere & Co. ( DE ) are down 38 cents, or 0.6%, at $66.85, regaining some of the earlier loss of the morning, after the company missed its own Q3 revenue projection but beat substantially on the bottom line. More...

  • Aug-18-2009 -- Money-Market Funds to Join NY Fed's Repo List
    Given the tremendous amount of excess reserves, analysts have said the New York Fed needed to look beyond the primary dealers to conduct reverse repos.
    More...

  • Aug-18-2009 -- Citi Trends shares fall after earnings miss
    Q2 revenue was up almost 16% from a year earlier at $129 million as same-store sales fell almost 1%, below the $137 million average estimate of analysts, yielding a net loss per share of 4 cents, versus an expected 7-cent profit.
    Revenue for the company rose 3.1 percent to $15.53 billion in the three month period ended July 31, while sales at store open at least one year rose 1.7 percent. More...

  • Aug-18-2009 -- Duquesne's Druckenmiller says retiring after 30 years
    Aug. 18 (Bloomberg) -- Stanley Druckenmiller, the hedge- fund icon who boasts one of the best long-term trading records and the distinction of having made $1 billion for George Soros by forcing a devaluation of the British pound in 1992, is closing his firm after 30 years.
    Duquesne had $2 billion then. More...

  • Aug-18-2009 -- Summary Box: GM teams with China's SAIC on engines
    The engineering and development work will be carried out by engineers from the two firms in Detroit, and at the Pan Asia Technical Automotive Center, a joint venture between the companies in Shanghai, [[ GM said in a statement.
    The JV deal, between the two automakers in Shanghai will help the American car maker, GM to meet demand for small city cars in emerging markets which includes India and help reduce the production cost of developing fuel-saving advances for the U.S. market, where GM is facing the challenge of meeting tough new fuel economy standards by 2016. More...

  • Aug-18-2009 -- Chico's beats on outlets-only items; shares up
    Women`s clothes retailer Chico's FAS Inc. (NYSE: CHS) has reported a 104.7% increase in net income for the second quarter this year at $30.5 million, compared to net income of $14.9 million for the same period last year, while earnings per diluted share totalled $0.17 for the period versus $0.08 in Q2 2009.
    During the quarter, the women's apparel retailer earned $30.5 million, or 17 cents a share, compared with $14.9 million, or 8 cents, in the year-ago period. More...

  • Aug-18-2009 -- GM IPO to Include Preferred Shares
    DETROIT -- In a little more than a year after coming here to rescue General Motors Co., Chairman and CEO Ed Whitacre shook up top management, changed the corporate culture and helped return the company to profitability.
    In hurrying to project leadership stability ahead of an initial public offering filing, possibly as early as today, the automaker also risks more turmoil among the insiders who will have seen four CEOs in less than two years. More...

  • Aug-18-2009 -- Vestas Knocks Wind Out of Forecast
    " Expected, but still not concluded, orders for delivery to the USA, Spain and Germany will now take place at such a late date in 2010 that they will not be recognised as income this year."
    Orders in the second quarter included a 1.5GW contract with Portuguese wind giant EDPR signed on 26 April, and Vestas' order backlog stood at €5.2bn as of 30 June. More...

  • Aug-18-2009 -- Asian sentiment boosted by Everbright IPO
    SHANGHAI, Aug 17 (Reuters) - China Everbright Bank's shares from its moderately priced $3 billion IPO will likely rise 5 percent or less when they debut in Shanghai on Wednesday as interest towards China's No. 11 lender may be cooled by renewed worries over the sector's health.
    The economy is cooling as the government trims credit growth from last year'''s record $1.4 trillion and discourages multiple-home purchases to check surging property prices. More...

  • Aug-18-2009 -- BofA's government mortgage modifications slow in July
    While alternative modifications are available directly from many lenders, unemployment mortgage assistance plan and underwater mortgage aid has been offered to homeowners who may not benefit from or qualify for a home loan modification.
    Millions of people have found themselves facing foreclosure since the economic climate has shifted so rapidly over the past couple of years. More...

  • Aug-18-2009 -- BJ's 2Q net income edges up, cuts yearly view
    Excluding the impact of gasoline, merchandise comparable club sales improved by 2.9%.
    Per share earnings and revenues fell short of the Street view. More...

Wednesday


  • Aug-18-2009 -- Tax Setback for City on Diplomat Housing
    NEW YORK — India and other nations with diplomatic housing do not have to pay city property taxes, a federal appeals court ruled Tuesday in a long-running dispute that once reached the Supreme Court.
    The decision came Tuesday from the 2nd U.S. Circuit Court of Appeals in Manhattan. More...

  • Aug-18-2009 -- American Apparel Shares Fall as Woes Rise
    BANGALORE (Reuters) - American Apparel Inc's ( APP.A ) woes continued as it raised "substantial" doubt about its ability to continue as a going concern and warned it could breach a loan covenant, sending its shares down 22 percent to a lifetime low.
    Sales are slumping - down 16 per cent, we learnt yesterday - and its debts are mounting. More...

  • Aug-18-2009 -- Everbright Bank shares rise 13 percent in Shanghai debut
    The Shenzhen Component Index rose 0.2 percent to open at 11,304.12 points.
    The Shanghai Composite Index, which tracks the bigger of China'''s stock exchanges, gained 10.19, or 0.4 percent, to close at 2,671.89. More...

  • Aug-18-2009 -- Rank's Reynolds May Tap Credit Suisse For $5 Billion of Debt to Buy Pactiv
    Reynolds Group Holdings Ltd. is a subsidiary of Rank Group Ltd. in New Zealand.
    Illinois-based Pactiv is a leader in the consumer and foodservice/food packaging market. More...

  • Aug-18-2009 -- HP to buy vulnerability specialist Fortify Software
    With the acquisition of Fortify Software, HP will offer a complete, market-leading solution that helps organizations reduce business risk, meet compliance regulations and protect against malicious application attacks by integrating security assurance seamlessly across the application life cycle.
    Using Fortify's technology, HP plans to offer a software that will integrate security assurance with the software development process. More...

  • Aug-18-2009 -- Mazda recalls 300000 cars in US, Canada and Mexico
    Aug. 17 (Bloomberg) -- Mazda Motor Corp. will recall 215,000 Mazda3s and Mazda5s to repair a defect that can result in a sudden loss of power steering, increasing the risk of a crash, the National Highway Traffic Safety Administration said.
    Most of the 33 complaints alleged loss of power steering assist while driving, making it difficult for the driver to maintain control of the vehicle. More...

  • Aug-18-2009 -- Yahoo exec looks past search setback in Japan
    "As a result, third party custom result apps, infobar apps, and data services will no longer appear on Yahoo's search results.
    Data released on Tuesday by industry tracker comScore showed that U.S. search engine rankings changed slightly in July, with Google's dominant share slipping less than half a percent to 65.8 from 66.2 percent in June. More...

  • Aug-18-2009 -- GM, China Partner SAIC Plan New Engine Development
    China's SAIC Motor Co., Ltd. (SHSE: 600104) and U.S. General Motors (GM) will sign an agreement in Shanghai, east China on August 18 upon their technological cooperation, including the joint development and application focusing on new energy technology.
    The agreement also marks the first expansion of the GM-SAIC partnership in China since the Chinese automaker took control of what had been a 50-50 joint-venture in Shanghai GM by buying an additional 1 percent stake from GM in December. More...

  • Aug-18-2009 -- Gold May Decline After Rally to Six-Week High Prompts Selling
    Following "the deterioration in U.S. economic data in June and July. things have started to look bad for the Euro," says Barrow.
    Germany, France, Italy and Spain were all within 0.4% of growth in the first quarter. More...

  • Aug-18-2009 -- Hong Kong property shares up after upbeat auction
    The broader market is also likely to be supported by a rally in U.S. stocks, which rose after strong earnings from consumer bellwethers and BHP Billiton Ltd's unsolicited $39 billion takeover bid for Potash Corp of Saskatchewan Inc bolstered confidence in the corporate outlook.
    Hong Kong stocks rose 0.12 per cent on Tuesday, in line with Chinese shares, but on quiet volumes amid lingering concerns over the global economy. More...

  • Aug-18-2009 -- Billionaire Saban buys Julius monkey brand
    Paul Frank will be managed by Saban Brands President Elie Dekel.
    Paul Frank generates $8 million a year in royalties from licensees, which are estimated to sell more than $160 million annually in products ranging from bikes and furniture to plush toys and sunglasses. More...

  • Aug-18-2009 -- Home sales slump in July
    Home sales throughout Southern California slumped last month, experiencing the biggest drop in more than two years, says a report by market research firm MDA DataQuick.
    Home sales last month were the bleakest since 2006, with only 749 sold in Ventura County, according to a report issued Tuesday by MDA DataQuick. More...

Tuesday


  • Aug-17-2009 -- New-Home Construction Rises in July
    Economists are looking for applications for building permits, considered a good barometer of future activity, to fall further in July, dipping 0.5 percent to a seasonally adjusted annual rate of 580,000 units.
    The all-time low in the organization's sentiment index - 9 - was reached in January 2009, but the present-day index value of 13 isn't much higher. More...

  • Aug-17-2009 -- China Expands Access to Bond Market
    China will let overseas financial institutions invest yuan holdings in the nation'''s interbank bond market in a pilot program to spur currency flows from abroad.
    At the high, the yuan had appreciated as much as 0.91 percent against the dollar since the central bank announced a depegging of the Chinese currency to the dollar on June 19, but it has now appreciated only 0.26 percent since the depegging. More...

  • Aug-17-2009 -- Wheat Futures Rally as Russian Export Ban May Boost Demand for U.S. Grain
    Russia requires 78 million tonnes of grain domestically and can cover the shortfall with 9.5 million tonnes from a state fund and 21 million tonnes left over from last year's harvest, the government has said.
    The export quotas could initially be applied to wheat and be set at between 7 million and 8 million tons of grain. More...

  • Aug-17-2009 -- LIVE: Home Depot 2Q Earnings Call >HD
    Home Depot (NYSE: HD ) ported earnings today that beat analyst expectations, but its sales figures fell short of forecasts.
    Home Depot, which competes with Lowe's Companies Inc. ( LOW - Analyst Report ), said that net sales for the quarter came in at $19,410 million, marginally higher by 1.8% from the year-ago quarter. More...

  • Aug-17-2009 -- King Says BOE Ready to Expand, Reduce Stimulus on Price Risks
    The figures do look more encouraging than last month: while the consumer price index dropped to 3.1%, the retail price index - the measure more closely associated with the overall cost of living - also dropped, albeit from a more imposing 5% to 4.8%.
    Mr King said inflation was likely to fall back below the Banks 2% target in 2012. More...

  • Aug-17-2009 -- Wholesale prices rise on higher food costs
    "We. anticipate that consumer price inflation will. remain quite low over the year ahead," Ryan Wang, an economist at HSBC Securities, wrote in a note to clients.
    At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 0.4 percent in July and the crude goods index rose 2.7 percent. More...

  • Aug-17-2009 -- GM recalls SUVs for seatbelts that seem to be buckled but really are not
    General Motors is recalling 243,403 vehicles because of a potential safety problem where safety belts could appear to be properly latched when they are not.
    According to GM's initial findings, the models present damaged second-row safety belt buckles. More...

  • Aug-17-2009 -- Starbucks affirms outlook despite coffee prices
    Analysts expect the company to report earnings of $1.24 per share for the year.
    DETROIT (Reuters) - Starbucks Corp ( SBUX.O ) said on Tuesday it still expects the level of 2011 earnings that it forecast last month despite recent spikes in green coffee prices. More...

  • Aug-17-2009 -- BOJ Sees No Threat in Yen's Recent Rise
    "The yen has strengthened following the weaker-than-expected second-quarter GDP report from Japan, which has further eroded investor confidence in the global economic recovery, boosting safe-haven demand for the yen," said economist Lee Hardman at The Bank of Tokyo-Mitsubishi UFJ. "The sharp slowdown in economic activity was driven mainly by fading support from fiscal stimulus as both private consumption and public spending faltered in the second quarter."
    The continued strengthening of the yen makes the revenue earned from Japanese companies' U.S. subsidiaries worth less when the repatriated revenues are converted from dollars into yen. More...

  • Aug-17-2009 -- A&F returns to 2Q profit; to close 60 stores
    The New Albany, Ohio-based specialty retailer reported second quarter net income of $19.48 million or $0.22 per share, compared to a net loss of $26.75 million or $0.30 per share in the year ago quarter.
    Abercrombie & Fitchs ANF second-quarter results reflect an uptick in store traffic but weaker gross margins, driven by aggressive price cuts (average unit retail down 12%) in domestic nontourist stores across all three brands. More...

  • Aug-17-2009 -- Treasurys Fall As US Stocks Rally On Better Data
    The largest exchange-traded fund tracking the long end of the Treasury curve has rallied more than 10% so far this year.
    The U.S. 30-year yield is higher than that on the current coupon mortgage-backed security for the first time since 2009, a team of analysts including Dominic Konstam and Mustafa Chowdhury in New York wrote in a note issued Aug. 13. More...

  • Aug-17-2009 -- California's still No. 1 in consumer debt, data show
    U.S. household debt fell 1.5 percent in the second quarter as consumers, facing an unemployment rate near a 26-year high, reduced mortgages and credit-card accounts, according to the Federal Reserve Bank of New York.
    California had the highest level of consumer borrowings with $78,000 of average indebtedness per capita followed by Nevada'''s $73,000, the New York Fed said. More...

Tuesday


  • Aug-17-2009 -- Gay rights group's talks with Target break down
    "We believe that it is impossible to avoid turning any further actions into a political issue and will use the benefit of time to make thoughtful, careful decisions on how best to move forward," according to a statement the company issued Monday.
    HRC: Target won't donate to pro-gay candidates, so we will « Minnesota Independent: News. More...

  • Aug-17-2009 -- Summertime, and Indexes Tread Water
    In Canada, the S&P/TSX composite index closed at 11,552.76, up 24.51 points, or 0.2 per cent.
    "The rally in Treasuries is still reflecting global growth concerns," said Dan Greenhaus, chief economic and bond strategist at Miller, Tabak & Co in New York. More...

  • Aug-17-2009 -- Judge balks at SEC's settlement with Citigroup
    Approval for a settlement between the U.S. Securities and Exchange Commission and Citigroup ( C ) was rejected by a federal judge, due to insufficient information, according to reports.
    "We'll provide the court with the additional information requested," SEC spokesman Kevin Callahan said. More...

  • Aug-17-2009 -- Mortgage Bonds Slumping Amid Concern of `Mega-Refi' Wave: Credit Markets
    The average rate on a typical 30-year U.S. mortgage has fallen to 4.44 percent after declining in seven of the last eight weeks, according to McLean, Virginia-based Freddie Mac.
    Over the past year, housing prices across much of the country began to stabilize as the government spurred sales by providing federal tax credits for home buyers and by holding down mortgage rates. More...

  • Aug-17-2009 -- Fed Adopts Rules Meant to Protect Home Buyer
    WASHINGTON (Reuters) - The Federal Reserve said on Monday bank lending standards eased somewhat over the last three months while demand for business and consumer loans was largely unchanged.
    The final rule, which takes effect on April 1, 2011, will end the so-called "yield spread premium" payments blamed for pushing millions of borrowers into unaffordable loans. More...

  • Aug-17-2009 -- Guys more likely to cheat on high-earning women
    For women, economical dependency has the opposite effect, according to the study presented at the 105th Annual Meeting of the American Sociological Association in Atlanta.
    Overall, the study found evidence of adultery being relatively rare: only 7 percent of men and 3 percent of women cheated during the three-year research period. More...

  • Aug-17-2009 -- Tam Bonds Expensive to Barclays After Rallying on Lan Takeover
    Shares of LAN Airlines ( LFL ), which serves the Latin American market, rose 2% today to $27.79 after the company said it would merge in all-stock deal with competitor Tam SA ( TAM ), creating what Merrill Lynch analyst Sara Delfim says will be the 11th largest airline in the world by passengers (just behind U.S. Airways), and the leading passenger and cargo operation in Latin America, with 47% of the region's cargo traffic.
    New York, August 16th (TradersHuddle.com) - Shares of Lan Airlines S.A. (NYSE:LFL) booked a new 52 week high today by trading above $27.33, traders are definitely monitoring Lan Airlines' price action to see if this move attracts further buying into the stock. More...

  • Aug-17-2009 -- Ex-ConAgra Unit Settles With US Over Artificial Oil Trade
    Washington, DC ''' The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing and simultaneous settlement of charges against ConAgra Trade Group, Inc. (CTG) for causing a non-bona fide price to be reported in the New York Mercantile Exchange, Inc. (NYMEX) crude oil futures contract on January 2, 2008.
    On January 2, 2008, CTG was the first to purchase NYMEX crude oil futures contracts at the then-historic price (also known as a '''print''') of $100, the order finds. More...

  • Aug-17-2009 -- George Soros Sold JPMorgan, US Bancorp in Second Quarter
    NEW YORK -(Dow Jones)- The value of billionaire investor George Soros's hedge fund dropped by 42% to $5.1 billion at the end of the second quarter, as he cut back on positions in several blue-chip names during the period, according to a regulatory filing late Monday.
    BOSTON, Aug 16 (Reuters) - Billionaire investor George Soros in the second quarter stuck with his big bet on gold but slashed his holdings in dozens of major U.S. companies from Verizon Communications to Pfizer. More...

  • Aug-17-2009 -- Home Builders: Beaten Down and Looking Up?
    The latest data released by the National Association of Homebuilders (NAHB) shows that builder confidence for both newly constructed single family homes and the 55+ market segments continues to be weak.
    Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing a continued pullback or flattening for all measures as home builders continue to downwardly adjusted their outlook in the wake of the home "buyer" tax credit expiration. More...

  • Aug-17-2009 -- Treasuries Decline as Reports May Show Housing, Industrial Output Improved
    The borrowing binge comes as the Federal Reserve keeps interest rates near zero and yields on U.S. government debt are near record lows.
    Ten-year yields will advance to 3.17 percent by year-end, and two-year rates will climb to 0.85 percent, according to a Bloomberg survey of banks and securities companies. More...

  • Aug-17-2009 -- FTC halts sales of weight-loss, colon-cleansing Internet sales company
    CHICAGO — Dreams of rapid weight loss and fake celebrity endorsements from Oprah Winfrey and Rachael Ray lured customers into providing their credit or debit card numbers as they signed up online for a "free trial" of acai berry pills.
    Today we learned the Federal government has filed suit against the company for false and unsubstantiated product claims, failure to disclose memberships costs and unauthorized electronic fund transfers from consumer's bank accounts. More...

Monday


  • Aug-16-2009 -- WSJ: Hurd tried to outflank HP board
    SAN FRANCISCO (Reuters) - Hewlett-Packard Co's top lawyer, Mike Holston, came to the company on the wings of a board spying scandal in 2006.
    A source close to Hurd says an HP attorney was "kept informed every step of the way" about settlement talks between Hurd and Fisher, according to the Mercury News . More...

  • Aug-16-2009 -- Office Depot To Offer US Postal Service Products, Services
    Office supplies retailer Office Depot Inc. , which is based here in Boca Raton, has begun offering U.S. Postal Service products and services at its stores nationwide today.
    With Flat Rate Boxes, customers pay one, low rate to any state without worrying about weighing the package -- and there are no surcharges when using Postal Service shipping products. More...

  • Aug-16-2009 -- EMERGING MARKETS-LatAm stocks up on airline merger, bank profits
    In 2009, the carriers had combined revenues of $8.5 billion and collectively carried more than 45 million passengers and 832,000 tons of cargo.
    LAN already consists of a group of carriers that collectively, with TAM, cover much of the region. More...

  • Aug-16-2009 -- Corinthian, For-Profit Education Stocks Drop on Repayment Data, Downgrades
    As is often the case, though, what's not entirely clear is why.
    Washington Post says restricted programs would be subject to limits on enrollment growth, and would be required to warn consumers and current students of high debt levels. More...

  • Aug-16-2009 -- Bank Of America Looks To Unload Blackrock: WSJ
    Tom Reese and Paul Rubillo, Dividend.com, 08.16.10, 10:29 AM EDT According to reports, Bank of America may be looking to sell its BlackRock stake.
    Harrah's : A planned sale of new shares by Harrah's Entertainment Inc. will mainly benefit hedge fund firm Paulson Co., rather than the casino operator. More...

  • Aug-16-2009 -- Treasurys Rise On Economic Angst; 10-Year Yield Touches 2.579%
    The borrowing binge comes as the Federal Reserve keeps interest rates near zero and yields on U.S. government debt are near record lows.
    U.S. treasuries, German bunds, UK gilts and Japanese government bond yields have fallen to multi-year lows on the back of weak economic growth prospects. More...

  • Aug-16-2009 -- NY Fed's Aug Manufacturing Index 7.10 Vs 5.08 In July
    Business Financial Newswire - The Empire State Manufacturing Survey indicates that conditions improved modestly in August for New York manufacturers.
    The index of business conditions six months ahead fell to 35.71 in August, the lowest since July 2009, from 41.27 in July. More...

  • Aug-16-2009 -- Medco Agrees to Acquire Drug-Tester United BioSource for $730 Million
    NEW YORK — Pharmacy benefits manager Medco Health Solutions Inc. said Monday it will buy United BioSource Corp., which develops technology used in clinical trials and patient monitoring, for $730 million in cash.
    Medco had looked at buying the Aetna PBM and the deal effectively took it off the table, said Wolk. More...

  • Aug-16-2009 -- OIL FUTURES: Nymex Crude Mostly Flat As Dollar Drops
    In London, Brent crude oil futures for September 2010 delivery was trading at $75.52, 08.00 GMT on the ICE Futures Exchange after a miserable close last week saw over $5 shaved off Brent prices.
    Oil prices were slightly higher in early afternoon on optimism about today's U.S. economic data, which will include the Empire State manufacturing survey and an update on the National Association of Home Builders' housing market index. More...

  • Aug-16-2009 -- Demand for US Long-Term Financial Assets Rose in June
    The estimates ranged from net buying of $30 billion to $70 billion.
    All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. More...

  • Aug-16-2009 -- Cairn India, Sesa Goa shares slump in Mumbai
    Cairn Energy Plc Chief Executive Bill Gammell said: "A substantial amount" of the $8.48 billion proceeds from sale of up to 51 per cent stake in the India unit to mining group Vedanta Resources would be "returned to Cairn (Energy Plc) shareholders."
    The Indian government is expected to take its time before deciding on the acquisition as there is an overlapping complication regarding the role of India's state-owned Oil and Natural Gas Corp (ONGS) in the Rajasthan fields. More...

  • Aug-16-2009 -- Ready for shrimp?...Catch will be scrutinized...Too close for safety
    Research chemist Daryle Boyd holds seafood samples from the Gulf of Mexico oil spill region as tests are conducted on seafood at the NOAA facility in Seattle, on Thursday, Aug. 12, 2010.
    WASHINGTON — Seafood from the Gulf of Mexico is being put under the microscope like no other kind on the market, with fish, shrimp and other catches ground up to hunt for minute traces of oil — far more reassuring than that sniff test that made all the headlines. More...

Monday


  • Aug-16-2009 -- AWB shares soar 29pc on Agrium bid
    The company said Sunday that it had bid 1.238 billion Australian dollars, or $1.1 billion, for AWB, seeking to pre-empt the Australian wheat service company's already-announced merger with GrainCorp. Under the terms of its unsolicited proposal, Agrium will pay 1.50 Australian dollars a share, a 36 percent premium to AWB's Friday closing stock price.
    The Australian company is already being pursued by local grainhandler GrainCorp Ltd. In a statement to the Australian Securities Exchange, AWB said its merger implementation deed with GrainCorp remained in place, with the company's directors continuing to recommend shareholders vote in favour of the deal. More...

  • Aug-16-2009 -- Tropical Depression Remnants May Get Stronger
    The remnant low of Tropical Depression #5 is located over the Florida Panhandle and could redevelop into a tropical depression during the day Monday.
    A low pressure center will develop today (Sunday) near Apalachicola, Fla. and then move towards New Orleans and Beaumont, Tex. The low may reach tropical storm strength Monday night. More...

  • Aug-16-2009 -- Bank of America Said to Consider Reducing $9.3 Billion Stake in BlackRock
    NEW YORK (Reuters) - Bank of America Corp is considering whether to reduce its stake in asset manager BlackRock Inc, which is viewed as a non-core asset, a source familiar with the situation said on Sunday.
    The bank, which acquired the holding through the purchase of Merrill Lynch & Co. last year, hasn'''t reached a final decision, and no deal is imminent, the person said, declining to be identified because the deliberations aren'''t public. More...

  • Aug-16-2009 -- West China Cement Raises $179 Million in Hong Kong
    Aug. 16 (Bloomberg) -- West China Cement Ltd. sold HK$1.39 billion ($179 million) of shares in a Hong Kong initial offering after the stock was priced at the top of a range marketed to investors, according to an e-mail sent to fund managers.
    More...

  • Aug-16-2009 -- Crude Oil Trades Near a One-Month Low After Japan's Economic Growth Slows
    Brent crude oil for September settlement was at $75.14 a barrel, up 3 cents, at 10:32 a.m. Singapore time on the London- based ICE Futures Europe Exchange.
    The Supreme Committee on Crude Oil Marketing, chaired by Prime Minister Ali Mujawar approved on Monday the sales of crude oil for October, 2010, with a total quantity of 5.25 million barrels. More...

  • Aug-16-2009 -- Nigeria oil sabotage 'increasing'
    LAGOS, Aug 15 (Reuters) - Royal Dutch Shell said on Sunday that sabotage of its crude oil pipelines in Nigeria's southern Niger Delta had increased in recent weeks, but was silent on whether there had been any impact on output.
    The company said the lines showed signs of drilled holes and hacksaw cuts from thieves trying to steal crude oil. More...

  • Aug-16-2009 -- UK liability limits to double after BP spill
    Interior Secretary Ken Salazar has halted deepwater drilling until Nov. 30, saying the BP spill demonstrated the industry wasn't prepared for a massive underwater blowout.
    Even without more accidents, insurance costs will escalate for any oil company not large enough like BP to self-insure, experts said. More...

  • Aug-16-2009 -- UAW halts vote on giveback deal at Indy GM plant
    Senior leaders of the UAW in Detroit will ask General Motors workers in Indianapolis to vote again Sunday on concessions that could open the way for the sale of the Near Westside stamping plant.
    A controversial pay cut for Indianapolis autoworkers might keep the GM stamping plant open under a new owner, but it's created fissures in the UAW. Union dissidents fear lower wages for other GM plants will follow the proposed pay cuts of almost 50 percent negotiated for Indianapolis autoworkers by their senior leaders in Detroit. More...

  • Aug-16-2009 -- Council pay in Vernon, Inglewood and Compton is high, but Bell is still No. 1
    In a letter to Los Angeles County Auditor-Controller Wendy Watanabe, Chiang demanded that Bell's property tax rate be reduced to the legal level and that the extra levies for the past three years be reallocated from the city to local school districts as required by state law.
    If nothing else, it underscores the vital role that vigorous journalism plays in society ''' and the sleaziness that flourishes when no one is watching. More...

  • Aug-16-2009 -- Ford brings back high-powered Mustang Boss 302
    The new car will have increased going power, stopping power, enhanced suspension, and weight reduction just to name a few to help sling the Boss around corners and go from a dead stop.''
    While the big-block Boss 429 was homologated for roundy-roundy stock car racing, the lighter and more responsive Boss 302 endowed the Mustang with serious track presence, especially with the competition-style suspension and braking hardware.'' More...

  • Aug-16-2009 -- Kyron bracelets are local mom's way of helping out
    The Multnomah County Sheriff'''s Office and District Attorney held a press conference yesterday regarding the case of missing 7-year-old boy Kyron Horman.
    Since Kyron's disappearance, Terri has come under severe scrutiny both in the public eye and from Kyron's parents. More...

  • Aug-16-2009 -- Survey: Gas prices up about 4 cents in 3-week span
    The latest Lundberg Survey, conducted Friday in 38 U.S. markets, found the average price of self-serve regular at $2.77 per gallon -- up 3.9 cents since the last survey, conducted July 23.
    Initially trading within a $72 to $80 per-barrel price band, the average price for crude broke out of the range for the second week to trade between $81 and $82.50 per barrel. More...

Sunday


  • Aug-15-2009 -- Quinn to remind shoppers of tax holiday's last day
    Downtown South Boston merchants held their annual sidewalk sale this past weekend during the state'''s fifth annual tax-free back-to-school shopping period Friday through Sunday.
    Because sales tax is applied after the use of any coupons or discounts, if the final price is less than $300, the sale is exempt from taxes. More...

  • Aug-15-2009 -- Bell must give up $2.9 million in illegal property taxes
    In a letter to Los Angeles County Auditor-Controller Wendy Watanabe, Chiang demanded that Bell's property tax rate be reduced to the legal level and that the extra levies for the past three years be reallocated from the city to local school districts as required by state law.
    The city of Indio has worked to provide complete financial information to the public for many years, and the measures we have taken predate the Bell story. More...

  • Aug-15-2009 -- Judge's Ruling Uproots Use of Biotechnology Beets
    Federal District Judge Jeffrey S. White said that the lack of any thorough risk assessment of the transgenic plants, as required by law, makes an approval for commercial cultivation impossible.
    The modified sugar beet known as "Roundup Ready sugar beet", approved by the USDA in 2008, is genetically engineered to be resistant to Monsanto Co.' s (MON: News ) herbicide Roundup, and it represents 95% of the sugar beet crop in the U.S. The sugar beet industry provides about 50% of the sugar produced in the United States. More...

  • Aug-15-2009 -- A world without overdraft
    Have you opted in for overdraft protection on your checking account? Or will you let new bank rules eliminate the risk of over-limit fees to protect your credit? Bank customers struggling with money problems must make a choice in the next few weeks.
    The information in this article is absolutely correct including the the fact that this program is specifically targeting those people who often overdraft their accounts. More...

  • Aug-15-2009 -- Legislative battle on horizon for future of Fannie and Freddie
    John Conyers (D-MI) and Marcy Kaptur (D-OH) are circulating a blistering letter to Treasury Secretary Timothy Geithner and Acting Director of the Federal Housing Financing Agency Ed DeMarco (the oversight agency for Fannie Mae and Freddie Mac), criticizing Fannie Mae for threatening to sue homeowners who engage in strategic defaults on their mortgages.
    If I introduce investing the difference between the higher mortgage+property tax at 5% permanently it puts you ahead in renting until year 33, at which point the lower monthly expense of no mortgage payment catches up. More...

  • Aug-15-2009 -- Do you want higher taxes?
    I don't have the knee-jerk reaction against ending some of the Bush tax cuts that many Republicans have.
    '''If all tax provisions that are scheduled to expire in the coming decade were extended and the were indexed for inflation, deficits over the 2011-2020 period would be more than $7 trillion higher,''' states the nonpartisan Congressional Budget Office (CBO). More...

  • Aug-15-2009 -- Fed needs firepower to zap deflation monster
    In an article titled "Turning Japanese: The Risk of U.S. Deflation," PIMCO's head of global portfolio management Scott Mather wrote Friday, "The risk is rising that the U.S. will enter a prolonged period of stagnant growth combined with a risk of outright deflation."
    Recently, Federal Reserve chairman Ben Bernanke announced that while the worst of the Great Recession is over, the U.S. economy still faces and long and bumpy road to recovery. More...

  • Aug-15-2009 -- Here come the iPad wannabees
    MORE TV shows and movies may be coming to tablet computers like Apples iPad - for those who pay to watch.
    Store locations are also a consideration for Beijing ErenEben's target market. More...

  • Aug-15-2009 -- US STOCKS-Wall St ends worst week in six with another down day
    U.S. retail sales rebounded last month, as did the overall July Consumer Price Index, but the data was consistent with an economy that has slowed in recent months.
    NEW YORK — Stocks extended their losing streak to four days Friday after a mixed batch of readings on consumers further muddled investors' sense of the economy. More...

  • Aug-15-2009 -- Wheat sinks as profit-taking offsets drought woes
    CF shares gained $2.20, or 2.7 percent, to $84.13 in afternoon trading Thursday.
    Some market participants think the government will eventually have to raise the estimate by another 200 or 300 million bushels because of reduced Russian wheat production. More...

  • Aug-15-2009 -- JC Penney Posts 2Q Profit But Provides Cautious View
    J.C. Penney Company, Inc. (NYSE:JCP) lost 2.16% to $20.35 on over 5.84 million shares.
    JCPenney is one of America's leading retailers, operating 1,107 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation's largest general merchandise catalog business. More...

  • Aug-15-2009 -- Nvidia Said to Take On Intel in Tablet Computer Chips
    "Impacting gross margin was poor mix, a $194 million remediation charge, and a $70 million inventory write-down."
    Nvidia stock: The graphics-chip maker's shares climbed 43 cents, or 4.8 percent, to close at $9.39. More...

Sunday


  • Aug-15-2009 -- Legislative battle on horizon for future of Fannie and Freddie
    John Conyers (D-MI) and Marcy Kaptur (D-OH) are circulating a blistering letter to Treasury Secretary Timothy Geithner and Acting Director of the Federal Housing Financing Agency Ed DeMarco (the oversight agency for Fannie Mae and Freddie Mac), criticizing Fannie Mae for threatening to sue homeowners who engage in strategic defaults on their mortgages.
    Together, the mortgage companies either own or guarantee about half of all U.S. mortgages. More...

  • Aug-15-2009 -- Sakakibara Says Yen May Rise to Record Against Dollar by End of This Year
    TOKYO — Japan Prime Minister Naoto Kan said on Saturday he would monitor closely the strength of the yen and hinted at holding talks with the central bank chief amid the recent rise of the unit, Jiji Press reported.
    More...

  • Aug-15-2009 -- Mass. sales-tax holiday spurs shoppers
    Downtown South Boston merchants held their annual sidewalk sale this past weekend during the state'''s fifth annual tax-free back-to-school shopping period Friday through Sunday.
    Check out Bankrate's table of all the August sales tax holidays , where you'll find links to official state pages with details on the events. More...

  • Aug-15-2009 -- Synergies to add $3 billion to new LAN-TAM group: report
    Cueto says having one global alliance for the new group was not assumed when calculating the carriers' estimate for $400 million in annual synergies.
    The new company would be created from an all-share transaction. More...

  • Aug-15-2009 -- Stocks Fell for the Week on Lower Economic Growth Concern
    Sales at the Detroit-based company came in at $33.2 billion, versus $31.5 billion in the first quarter.
    Cisco shares fell 10% last night. More...

  • Aug-15-2009 -- IBM to Buy Unica for $480 Million to Gain Software
    Today's news expands IBM's growing portfolio of industry software solutions designed to help companies automate, manage, and accelerate core business processes across marketing, demand generation, sales, order processing and fulfillment.
    INDIANAPOLIS, Aug 13, 2010 (BUSINESS WIRE) -- Aprimo(R) Inc., a global leader in on-demand integrated marketing software solutions, provides commentary on today's announcement of IBM's plans to acquire Unica Corporation. More...

  • Aug-15-2009 -- A City That Knows Long Odds
    ATLANTIC CITY ''' A New Jersey appeals court Friday ruled against the Trump Entertainment Resorts Inc. casinos in their attempt to recover $2.7 million in state utility taxes that should not have been charged in the first place.
    The bonus features on the four themes available at Resorts Casino are: Bonus features on Dragon Hurricane: Dragon Hurricane offers four progressive levels that can be won during the Big Money bonus round. More...

  • Aug-15-2009 -- Congressional Panel: US AIG Aid Strongly Benefited Foreign Banks
    WASHINGTON (Reuters) - The U.S. tactic of pouring money into ailing financial firms during the 2007-09 crisis helped many foreign banks whose governments should have shared some of the burden, a report from a congressional watchdog agency said on Thursday.
    The rescue enabled the company to make good on derivatives contracts held by European banks. More...

  • Aug-15-2009 -- The Boss 302 gets a limited run
    The new car will have increased going power, stopping power, enhanced suspension, and weight reduction just to name a few to help sling the Boss around corners and go from a dead stop.''
    This is all there is? off the shelf Ford Racing parts that are tweaked a bit? Where is the stuff that would help the track day guy running stock? aluminum radiator, rear seat delete, battery in trunk, wider front wheels, etc. Horsepower is not the problem. weight is the problem. More...

  • Aug-15-2009 -- Bell must give up $2.9 million in illegal property taxes
    In a letter to Los Angeles County Auditor-Controller Wendy Watanabe, Chiang demanded that Bell's property tax rate be reduced to the legal level and that the extra levies for the past three years be reallocated from the city to local school districts as required by state law.
    Current law (see Government Code Sections 53890 and 12463) also applies to community redevelopment agencies, special districts and school districts (but apparently not to community college districts, a flaw). More...

  • Aug-15-2009 -- Hoenig: Fed Needs To Raise Rates, End 0% Rate Policy
    The Federal Reserve's zero-interest-rate policy amounts to a "dangerous gamble" that may be holding back the recovery and risking a repeat of the financial crisis that put us here, the president of the Federal Reserve Bank of Kansas City said Friday.
    Since January, Hoenig has been the only dissenter on the committee's decision to keep the rate at a record low level to stimulate the economy. More...

  • Aug-15-2009 -- Investigators from D.A.'s Office Raid Oxnard City Hall
    Investigators with the Ventura County District Attorney's Office remove boxes of files taken from City Hall on Friday evening.
    Ortega said he'''d failed to disclose meals, tickets to sporting events and rounds of golf that had been paid for by businesses with city contracts. More...





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