Business Topics Overviews

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

Friday (Update 1)

Nov-20-2009 -- DR Horton 4Q Loss Narrows; Write-Downs A Surprise
D.R. Horton (NYSE: DHI ) posted a narrower fiscal-fourth quarter loss today, of $231.9 million, or 73 cents per share, as compared to a loss of $799.9 million, or $2.53 per share, in the same quarter last year.
We have avoided shares of DHI since our early June coverage began last June, when the stock was trading at $11.64. More...

Nov-20-2009 -- Valero to shut Delaware refinery, take big charge
NEW YORK (Reuters) - U.S. oil refiner Valero Energy Corp ( VLO.N ) said on Friday it will permanently shut down its Delaware City, Delaware, refinery because of the weak economic conditions.
Valero Energy Co. (VLO) said Friday it would permanently close its Delaware City refinery--a major sign of the sinking profitability of the U.S. refining business. More...

Nov-20-2009 -- BOJ Faces Pressure to Loosen Policy
The first appointment of a Bank of Japan policy board member by new Democratic party-led government looks set to leave the central bank boat unrocked.
Kan, also the minister in charge of economic and fiscal policies, declined to specify what the BOJ should do. More...

Nov-20-2009 -- Report: GE, Vivendi at least $1B off on value of NBC stake
GE and Comcast have agreed on a valuation for NBCU of around $30 billion, meaning $6 billion for Vivendi's stake, sources have said.
NEW YORK (Dow Jones)--NBC Universal Chief Executive Jeff Zucker expressed "regret" about the perception that NBC is airing five nights a week of Jay Leno's show as a financial decision over a creative one. More...

Nov-20-2009 -- Cadbury, Hershey Should Mull Dual Listing, GFI Says
The new vaccine reduces risk of infection from 13 strains of the Streptococcus pneumoniae bacteria, which cause thousands of cases of ear infection, meningitis, and pneumonia each year.
HERSHEY, Penn. (Reuters) - In a company town where the street lamps are shaped like chocolate Kisses and orphans are cared for with corporate largesse, the prospect that America's biggest chocolate maker may merge with a foreign entity has unnerved some people. More...

Nov-20-2009 -- Dollar index gains a second day as risk appetite wanes
NEW YORK (Dow Jones)--The euro and other higher-yielding currencies extended overnight losses Friday morning as fresh concerns about the global economic recovery prompted investors to seek refuge in the dollar.
The risk correlation between assets -- where the dollar falls when investors buy riskier assets and vice versa -- remained in place. More...

Nov-20-2009 -- 7 Days Group IPO Prices at High End of Range
ADSs to start trading Friday on NYSE under "SVN."
NEW YORK — Shares of 7 Days Group Holdings Ltd. soared on Friday after the discount lodging chain's initial public offering priced at the high end of an expected range. More...

Nov-20-2009 -- ECB slows emergency cash support
FRANKFURT — Although it is too early to say the crisis is over, it is time to withdraw some of the policy measures that supported the financial system through the credit crunch, the European Central Bank President Jean-Claude Trichet said Friday.
"Profits earned should be used -- as priority -- to build capital and reserves, rather than to be paid out as dividends or undue compensation," Trichet told a banking conference here. More...

Nov-20-2009 -- Citi Offers Lower Interest Rates For More Card Usage
In a statement, Citi said the actions were necessary given elevated losses from souring loans and "regulatory changes that eliminate repricing for that risk."
If you don't carry a balance in the credit card and pay it off at the end of the month, it does not matter what interest rate Citi wants to charge you. More...

Nov-20-2009 -- Archipelago prices IPO at high end of range
Archipelago Learning Inc. is set to begin trading Friday after its initial public offering raised $103.1 million.
The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 937,500 shares at the initial public offering price to cover over-allotments, if any. More...

Nov-20-2009 -- UPDATE 1-Ohio attorney general sues credit agencies
The lawsuit, filed in United States District Court for the Southern District of Ohio on behalf of five Ohio public employee retirement and pension funds, charges the rating agencies with wreaking havoc on U.S. financial markets by providing unjustified and inflated ratings of mortgage-backed securities in exchange for lucrative fees from securities issuers.
The misleading ratings cost Ohio's pension funds more than $457 million, the suit said. More...

Nov-20-2009 -- JM Smucker brews Q2 beat with Folgers coffee
The performance topped the expectations of analysts polled by Thomson Reuters, who forecast a profit of $1.04 per share on sales of $1.24 billion.
Taking out merger and integration costs related to Folgers, profit was $1.22 per share. More...

Friday

Nov-20-2009 -- Treasury to Auction Off Big-Bank Warrants
The three banks have all previously repaid funds received under the Troubled Asset Relief Program, or TARP. Over the next month, the Treasury Department intends to conduct public Dutch auctions to sell the warrant positions, which were granted as part of the bailout of the companies during the financial crisis.
More...

Nov-20-2009 -- Charter schools in L.A. area win $60-million grant
The grants include $100 million to Hillsborough County Public Schools in Tampa, Fla., $90 million to Memphis City Schools, $60 million to a coalition of charter school organizations in Los Angeles, and $40 million to Pittsburgh Public Schools.
Three school districts and a coalition of charter schools have agreed to be test kitchens for some radical ideas for improving teacher quality from paying new teachers to spend another year practicing before getting their own class to letting student test scores affect teacher pay. More...

Nov-20-2009 -- China Passive on Dollar's Level, PBOC's Zhou Says
BEIJING (MNI) - Cutting deposit rates to zero may not stimulate lending because banks' cost of capital are also effectively reduced to nothing, People's Bank of China Governor Zhou Xiaochuan said Friday.
The one-year benchmark deposit rate stands at 2.25 percent among Chinese banks. More...

Nov-20-2009 -- Gap Says Profit Rose 25%, Plans to Buy Back Shares
The parent of The Gap, Old Navy and Banana Republic posted net income of $307 million, up 25% over a year ago with the 44 cents per share in earnings hitting analysts' target for the period.
Inventory per square foot was down 9% in the quarter. More...

Nov-20-2009 -- UPDATE 1-Sony slides to 4-mth low, plan fails to inspire
Sony Corporation is the latest entrant into the crowded digital storefront space, stating plans to launch an online marketplace selling music, movies, books and related media optimized for mobile devices.
Four years ago, Stringer hired Tim Schaaff, a top lieutenant of Apple CEO Steve Jobs, to lead Sony's software development efforts. More...

Nov-20-2009 -- GE, Vivendi $1 billion apart over NBC Universal stake: report
GE and Comcast have agreed on a valuation for NBCU of around $30 billion, meaning $6 billion for Vivendi's stake, sources have said.
BARCELONA (Dow Jones)--Entertainment-to-telecom conglomerate Vivendi SA's (VIV.FR) Chief Financial Officer Philippe Capron Thursday said Vivendi wants to exit NBC Universal but that its board hasn't yet made a decision for this year as the situation is "complex." More...

Nov-20-2009 -- Australia, NZ Dollars Set for Weekly Loss on Signs Global Rebound Waning
TOKYO, Nov 20 (Reuters) - The dollar and yen kept their broad strength on Friday as investors continued to sell higher-yielding currencies and took profits from gains made in the past few months in risky assets.
A drop in demand for risk triggered an overnight sell-off in global equity markets as well as in oil, gold and other commodities. More...

Nov-20-2009 -- KKR Reports Third-Quarter Profit as Buyout Investments Triple
ENI in KKR's private markets segment was $652.5 million during the quarter ended September 30, 2009, an increase of $1.1 billion compared to an economic net loss of $478.7 million during the quarter ended September 30, 2008.
Assets under management ("AUM") represents the assets to which KKR is entitled to receive fee income, carried interest or capital appreciation. More...

Nov-20-2009 -- McKesson ex-chairman convicted of securities fraud
The jury convicted former McKesson Corp. chairman Charles McCall of four counts of securities fraud, plus a charge of evading corporate accounting controls.
McCall had been HBO chairman until the company was sold to McKesson in January 1999 for $12 billion. More...

Nov-20-2009 -- Carlyle to run Conn. roadside service stops
Besides Carlyle (which is one of Dunkin' Donuts' owners) and Subcon Inc. (the master franchisee for New York and Connecticut of Subway Restaurants''' parent company, Doctor'''s Associates Inc.), the group includes several other local Connecticut businesses, like construction manager Centerplan Cos., architectural firm BL Cos., and facilities manager OR&L Facility Services Co. Perhaps the strangest angle here, however, is that members of SEIU Local 32BJ, who will provide custodial resources, were also part of the consortium.
Carlyle-owned Dunkin' Donuts restaurants will be added to the rest stops. More...

Nov-20-2009 -- Intuit 1Q Loss Widens On Higher Expenses; Sees Weak 2Q
We'''ve got some positive indicators, positive reviews from PC Magazine and others.
A couple of questions on TurboTax, if I could -- the first is I noticed you had a new business product for $110 on the retail side. More...

Nov-20-2009 -- China'steps up US cyber-spying'
China is pursuing a detailed industrial policy designed to attract foreign investment and production, promoting economic imbalances and undercutting the United States manufacturing base, according to a new report from the U.S. -China Economic and Security Review Commission.
FOREIGN food and beverage exporters are not worried that trade disputes between China and other countries will spread to the sector and they remain optimistic in China's imported food market over the long term. More...

Thursday (Update 1)

Nov-19-2009 -- Philadelphia Area Manufacturing Grows at Faster Pace
WASHINGTON, Nov 19 (Reuters) - Manufacturing activity in the U.S. Mid-Atlantic region saw a two-year high November, indicating the economic recovery was gaining momentum, while the trend in claims for jobless aid continued downwards in data published on Thursday.
The New York State manufacturing barometer fell by more than expected, which analysts saw as suggesting factory activity moderated in November for the first time in four months. More...

Nov-19-2009 -- Jobless claims hold at 10-month low
Initial claims for state unemployment benefits were flat at a seasonally adjusted 505,000 in the week ended Nov. 14, the Labor Department said.
The seasonally adjusted number of new unemployment claims in the week ending November 14 remained unchanged at 505,000, slightly higher than the 504,000 expected by most economists, the Labor Department said. More...

Nov-19-2009 -- OECD Doubles 2010 Growth Forecast, Recovery to Widen
"The upturn in the major non-OECD countries, especially in Asia and particularly in China, is now a well established source of strength for the more feeble OECD recovery," the report said.
Then there is an Environmental Bill in the works that will be like a juggernaut that will completely wipe out every persons savings and small business to follow. More...

Nov-19-2009 -- Sony Unveils Its Answer to Apple's itunes
The company isn't out of the woods yet.
Sony said it will aim for a 20 percent share of the global liquid-crystal display TV market by fiscal 2012. More...

Nov-19-2009 -- WRAPUP 1-Suntech, Trina Solar see demand rising; shares up
The profit of 16 cents per American Depository Share topped the 8 cents that analysts had forecast, and Suntech shares rose in morning trading.
Earlier shares reached a new 52-week high of $45.23. More...

Nov-19-2009 -- WSJ:NBC Universal CEO Suggests More To Leno's Move Than Finances
GE and Comcast have agreed on a valuation for NBCU of around $30 billion, meaning $6 billion for Vivendi's stake, sources have said.
Capron said during the conference: "We are not interested in staying onboard a new GE-Comcast ownership of NBCU. we will exit and it will give us more headroom," but adding "We are not there yet." More...

Nov-19-2009 -- Sears 3Q Loss Less Than Expected;Kmart Stronger
"We saw some encouraging signs of progress in the third quarter," said Sears Holdings' interim CEO W. Bruce Johnson.
Third-quarter revenue fell 4 percent to $10.19 billion from $10.66 billion. More...

Nov-19-2009 -- US Mortgage Rates Fall for Third Consecutive Week
NEW YORK, Nov 19 (Reuters) - U.S. fixed mortgage rates sank to or near record lows last week, home funding company Freddie Mac ( FRE.N ) said on Thursday, adding incentive for refinancing and home purchases.
If the 10 year yield breaks through the 200 dma then there is a very good chance that we will see mortgage rates plummet to new all time lows.'' More...

Nov-19-2009 -- Blackstone's Pinnacle to Buy Birds Eye Foods for $1.3 Billion
The Pinnacle Foods Group, a company controlled by the Blackstone Group, announced Thursday that it would acquire Birds Eye Foods for $1.3 billion.
The Rochester, New York-based company said in the filing it held the top position in the frozen vegetables market with sales of $935.6 million in the fiscal year ended in June 2009. More...

Nov-19-2009 -- Williams-Sonoma posts higher profit, ups forecast
There were some other encouraging signs as well, as sales at stores open at least a year climbed 1.7 percent during the quarter.
The operator of the Williams-Sonoma cookware and Pottery Barn furnishings chains, whose shares rose nearly 4 percent in premarket trading, said net profit was $7.3 million, or 7 cents a share, in the third quarter ended November 1. More...

Nov-19-2009 -- Tyson Names Smith Chief Executive, Succeeding Tollett
Jim Lochner, currently senior group vice president of Fresh Meats, has been named the company's chief operating officer.
The meat producer also said Jim Lochner, currently senior group vice president of fresh meats, will become chief operating officer. More...

Nov-19-2009 -- CORRECT: 2nd UPDATE:JPMorgan Extends Europe Reach With Cazenove Buy
The deal, revealed in last week's Sunday Telegraph, is expected to go through at just over 525p a share, providing a multi-million pound windfall for many past and present Cazenove employees five years after it launched a joint venture with U.S. bank JP Morgan.
LONDON (Reuters) - Five years ago David Mayhew was under fire for selling out to a U.S. investment bank in a deal that would see British blue-blood stockbroker Cazenove gobbled up and spat out. More...

Thursday

Nov-19-2009 -- Wells to pay $1.4 billion to securities investors
SAN FRANCISCO (AP) - Three subsidiaries of Wells Fargo (WFC) have agreed to repay customers about $1.4 billion to settle a lawsuit alleging the company improperly marketed risky investments as safe.
According to a spokesperson from Brown's office, the deal also covers investors from other states, which have been represented by the North American Securities Administrators Association. More...

Nov-19-2009 -- Treasurys decline after consumer inflation, housing data
Most recent data though suggest inflation remains at bay, and Federal Reserve chairman Ben Bernanke on Monday reassured markets that inflation won't surface in the near future.
Prices of Treasury coupon securities have posted modest losses in overnight trading as the bond market surrenders some of the chunky gains achieved yesterday in response to the Bernanke papal bull. More...

Nov-19-2009 -- How to Survive Thanksgiving Travel
In New England, people tend to live closer together, and shorter distances between family and friends often translate into more holiday travel by car.
The number of people traveling by car is expected to increase by 2.1 percent while the number of fliers is projected to drop 6.7 percent. More...

Nov-19-2009 -- Brazil's 'Bizarre' Taxes May Hurt Confidence, Federated Says
The levy will go into effect on Thursday.
Shares of oil company Petrobras ( PBR.N ) fell to $51 after the tax news, but ended at $51.14, down 1.5 percent, on the New York Stock Exchange. More...

Nov-19-2009 -- AmEx to Acquire Revolution Money
The company was founded in 2005, and began offering payment services two years later, launched by AOL co-founder Steve Case's Revolution LLC. Besides offering a new payment option, the company's cards qualify customers for discounts and other incentives from participating merchants.
No names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number, American Express said in a statement. More...

Nov-19-2009 -- Miyao Nominated for Bank of Japan Board, Nikkei Says
TOKYO (MNI) - The Japanese government has nominated a university professor as a candidate to succeed Bank of Japan policy board member Atsushi Mizuno, whose five-year term expires on Dec. 2, a ruling party official said on Thursday.
It was appropriate for central banks to shift to purchasing government bonds from buying private-sector debt once credit markets recovered, so they could preserve the health of their balance sheets. More...

Nov-19-2009 -- Owner of famed NYC bagel biz hit with tax charges
Poor Helmer Toro, owner of the legendary H&H Bagels, can't seem to stay out of trouble.
The owner of H H Bagels, the popular Manhattan bagel shop, has been indicted on tax fraud charges, Robert M. Morgenthau, the Manhattan district attorney, said on Wednesday. More...

Nov-19-2009 -- Liberty sets DirecTV loose for sale, merger
The first being the use of decimal places (2001 )instead of fraction.
Stock Shock is about the technology of the future; namely Sirius XM Radio -- a satellite radio service. More...

Nov-19-2009 -- Fewer 2010 Cars Pass New Safety Tests
TUCSON, AZ (KOLD) - The list of the safest 2010 cars is out, and this year testing was more rigorous.
Suburu nabbed the top safety pick for every vehicle class in which it competed pulling in five awards. More...

Nov-19-2009 -- Semtech Corporation F3Q10 (Qtr End 25/10/09) Earnings Call Transcript
For the third quarter of fiscal year 2010 the company reported a net loss of $20.9 million or 34 cents per share computed in accordance with U.S. generally accepted accounting principles (GAAP).
In Q3, we generated approximately $23.3 million in cash from operations which is 31% of revenue and ended the quarter with approximately $316 million of cash and investments. More...

Nov-19-2009 -- Geithner: 'The credit crunch is not over'
Today's conference had been billed as an exercise in listening ''' Treasury Secretary Timothy F. Geithner and the head of the Small Business Administration, Karen G. Mills , wanted the recommendations of the assembled.
Small business lending from bailed out banks is down 4% or $10 billion in six months, reports Catherine Clifford at CNNMoney . More...

Nov-19-2009 -- Dollar, Yen Gain as Topix Falls on Equity Sales; Kiwi Weakens
SINGAPORE, Nov. 19 (MNI) - The U.S. dollar got a lift against most major currencies except the yen Thursday in Asia, as risk sentiment took a minor hit while regional stock markets gravitated lower.
Sentiment initially appeared solid after major U.S. stock indexes jumped more than 1 percent to new 13-month highs. More...

Wednesday (Update 1)

Nov-18-2009 -- Delta, SkyTeam may plow $1 billion into JAL
SkyTeam would also cover the entire cost for Japan's flagship carrier to transfer from American's oneworld alliance, estimated by Delta to total $20 million.
The real estate sub-index fell 4.8 percent.IRLTY.T with Tokyo Tatemono Co ( 8804.T ) sliding 18.9 percent to 314 yen after the company said on Tuesday it plans to raise as much as $512 millionin a global share offering to repay debt and fund new investments. More...

Nov-18-2009 -- Goldman's $500 Million Is Day Late, Dollar Short: Mark Gilbert
As a board member of a CDFI myself, I can attest that the kind of funding that Goldman is providing some $300 million in loans and grants can make a world of difference to our members.
Out of the 15, two were disabled (both had worked for the company over 15 years each), one in a wheelchair and one legally blind. More...

Nov-18-2009 -- Housing starts fall back to lowest level in six months
Analysts said the disappointing October residential construction report could have been due to what had been a planned expiration of a popular homebuyer tax credit of 8,000 dollars for first-time home buyers.
Single-family starts, which account for 75 percent of the industry, fell 6.8 percent to 476,000 in October from the revised September figure of 511,000, the data showed. More...

Nov-18-2009 -- Fortinet Opens Up 36% Post-IPO
NEW YORK, Nov 18 (Reuters) - Shares of network security provider Fortinet Inc ( FTNT.O ) soared in their debut on the Nasdaq on Wednesday, in what is on track to be among the strongest debuts of any initial public offering in 2009, after pricing above the expected range.
There were only six VC-backed IPOs in 2008, totaling $470.2 million, according to Thomson Reuters data. More...

Nov-18-2009 -- Ambac Reports Its Capital Surplus Almost Triples (Correct)
Shares of bond insurer Ambac Financial Group (ABK) are soaring this morning, up 26 cents, or 37%, to 96 cents, after the firm filed a form 8-K with the SEC stating it managed to clear some asset-backed securities off its books for a fraction of their value, leaving the firm with a regulatory capital surplus of $856 million, nearly triple the level back at the end of June.
NEW YORK ( TheStreet ) -- Ambac Financial ( ABK Quote ) shares surged Wednesday on above-average volume after the bond insurer reported a statutory capital surplus for its main operating unit at the end of the third quarter and said it expects to see another boost in the fourth quarter. More...

Nov-18-2009 -- US Stocks Fall as Profit Forecasts Drag Tech Shares Lower
U.S. stocks traded lower Wednesday as the Dow Jones Industrial Average fell 53 points to 10384, the S&P 500 dropped 5 points to 1106 and the Nasdaq Composite was down 15 points to 2189.
Autodesk slid 9.3 percent to $24.47 and was among the Nasdaq's top drags, while Salesforce tumbled 4.9 percent to $62.40 on the New York Stock Exchange. More...

Nov-18-2009 -- Dollar Falls Against Euro on Outlook for Fed's Target Rate
The markets are abuzz with Federal Reserve Bank of St. Louis President Bullard's 2012 Fed rate hike comments, and who can blame them.
The problem is, Bullard's remarks on rate policy come at a time where financial markets are singularly focused on the question of when the Fed will raise rates. More...

Nov-18-2009 -- Congressional Report Faults Online Marketing Practices
Reporting from Washington - Linda Lindquist was in Atlanta, where she had taken her 19-year-old daughter for therapy after a skiing accident left her a quadriplegic, when she decided to treat the teenager to a movie.
Here's 88 mostly big name sites that earned millions, some in excess of $10 million, as partners in the infamous Webloyalty consumer ripoff. More...

Nov-18-2009 -- Chico's Climbs After Third-Quarter Profit Exceeds Estimates
Shares of women's faux-luxury apparel retailer (is that fair?) Chico's FAS ( CHS ) are soaring this morning, up $1.78, or 13%, at $15.25 after the chain announced Q3 revenue rose 13% to $447 million, ahead of the $415 million average estimate of analysts, yielding profit per share of 13 cents, ahead of the 9-cent estimate.
The Company invested $51.0 million in capital expenditures for the first nine months in fiscal 2009 versus $92.3 million for the same period last year. More...

Nov-18-2009 -- Wells Fargo to Buy Back $1.3 Billion in Auction Debt
The settlement follows more than a dozen others, many with larger, better banks, including Goldman Sachs, Deutsche Bank, JPMorgan Chase and Credit Suisse, as well as with lesser banks, like Bank of America and Merrill Lynch (separately) and Citigroup.
SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE:WFC) announced today that its team members pledged a record $41.9 million to more than 25,000 nonprofits and schools through its annual Community Support and United Way Campaign. More...

Nov-18-2009 -- Kanjorski Proposes Plan to Break Up Risky Firms
WASHINGTON (Reuters) - A senior U.S. lawmaker unveiled a much-anticipated proposal on Wednesday that would give government regulators the power to break up financial firms that pose a risk to economic stability.
The amendment would give a new oversight council of regulators authority to oversee the large firms, instead of the Federal Reserve, which has come under heavy criticism. More...

Nov-18-2009 -- Retail stocks fall; bj's profit drops
NATICK, Mass. --(BUSINESS WIRE)-- BJ's Wholesale Club, Inc. (NYSE: BJ) today reported net income of $17.7 million, or $0.32 per diluted share, for the third quarter of 2009.
Strong cash generation over the past year has created a cash and cash equivalents balance of 1.070 billion, approximately, at the end of Q3. More...

Wednesday

Nov-18-2009 -- Lazard Names Jacobs To Succeed Wasserstein As CEO
LAZARD yesterday named insider Kenneth Jacobs as chief executive and chairman, succeeding legendary Wall Street dealmaker Bruce Wasserstein, who died last month.
Jacobs, 51, has been with the firm since 1998 and was named a partner in 1991 and deputy chairman in 2002. More...

Nov-18-2009 -- UPDATE 3-Autodesk Q4 profit estimate lower than Street view
The results topped expectations of analysts polled by Thomson Reuters, who had been looking for a profit of 23 cents per share on sales of $415.3 million, on average.
For the full year, Autodesk now sees revenue of $1.68 billion to $1.7 billion, and non-GAAP EPS of 88-93 cents; the Street has been expecting $1.69 billion and 90 cents. More...

Nov-18-2009 -- CORRECT: Home Depot 3Q Earnings Off 8.9%;Boosts Year Pft View
We grew market share in the quarter, continued to transform our business and improved customer service."
Home Depot shares are still up 7% in November, while Lowe's shares have risen almost 10%. More...

Nov-18-2009 -- Obama creates task force targeting fraud linked to financial crisis
Holder said the mandate of that task force wasn't broad enough to go after all the types of crimes involved with the financial crisis.
The government, however, lost the only major criminal case so far related to the financial crisis when a federal jury last month acquitted two former fund managers for Bear Stearns Cos. of securities fraud charges. More...

Nov-18-2009 -- Fla. No. 2 for mortgage delinquency
Mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 11th straight quarter, hitting an all-time national average high of 6.25 percent for the third quarter of 2009, according to ''credit rating firm TransUnion.
Guarrera added: "Until the housing market can consistently demonstrate several months of home value appreciation and the unemployment rate improves, mortgage delinquency will likely continue to rise." More...

Nov-18-2009 -- Hershey may team with Italian company for Cadbury bid
Talks have been on for several weeks, no offer yet NEW YORK, Nov 17 (Reuters) - U.S. chocolate maker Hershey Co ( HSY.N ) has held talks for several weeks with Italy's Ferrero Spa over a potential bid for Cadbury Plc ( CBRY.L ) that would rival a hostile offer from Kraft Foods Inc ( KFT.N ), The Wall Street Journal reported on Tuesday.
Citing people familiar with the matter, the Journal said Hershey executives have been more aggressive about pursuing a deal, though financial details have not been discussed and no offer has been produced. More...

Nov-18-2009 -- Report Rebuts Goldman's Claim on AIG
Turns out $61 billion of that bailout went straight to banks that AIG owed money to, including $14 billion to Goldman Sachs.
The topic: American International Group ( AIG - news - people ), the original bailout recipient that everyone loves to hate. More...

Nov-18-2009 -- City's Largest Dailies Raided in Deliverers' Union Inquiry
Police officers working with the Manhattan district attorney's office searched for paperwork related to the Newspaper and Mail Deliverers Union in circulation, production and delivery offices of The New York Times, the New York Post, the Daily News and El Diario, said the official, who spoke to The Associated Press on the condition of anonymity because the investigation is ongoing.
Newspaper Circ Offices in NYC Raided in Corruption Probe The Associated Press The New York Police Department raided circulation offices Tuesday (Nov. 17) at four of the city's largest newspapers as part of a union corruption probe. More...

Nov-18-2009 -- UPDATE 3-Salesforce business growth slows, shares fall
Results met Wall Street expectations for profit, but the company reported a slight sequential decline in deferred revenue, spooking investors and sending shares lower in after-hours trading.
Autodesk Inc ( ADSK.O ) shares fell more than 9 percent after the maker of design software for architects issued an outlook that missed Wall Street expectations. More...

Nov-18-2009 -- Coke sees int'l markets key to long-term growth
The new packaging includes Minute Maid's well-known black-and-white logo and mixes in larger images of fruit and leaves.
ATLANTA — Costco customers may have to look elsewhere for Coca-Cola products now that the retailer has stopped carrying them because the pair are fighting over prices. More...

Nov-18-2009 -- Concur posts higher 4Q profit, revenue
Based on our expectations of a continuing economic recovery, we expect year-over-year revenue growth rates to modestly trend up in the first half of the fiscal year and then trend up more significantly in the second half of the year.
Revenue reached an all time high at $64.8 million and driven by 3% growth in subscription revenues on a quarter-over-quarter basis. More...

Nov-18-2009 -- Tuesday Links: Robbery Up, Lending Down
We were also considered one of the leading lenders in the small business banking community with SBA loans.
Without the capital it needs to grow, The Villager isn't bringing on new staffers. More...

Tuesday (Update 1)

Nov-17-2009 -- TECH STOCKS: Tech Stocks Off; Applied Materials To Buy Semitool
Applied Materials's shares soared more than 30 percent after the world's largest producer of chip-making gear said it would pay $11 a share for all outstanding Semitool stock, a 31 percent premium over the company's Nasdaq closing price of $8.40 on Monday.
More...

Nov-17-2009 -- UPDATE 2-Covidien raises 2010 sales outlook, shares rise
For fiscal 2009, sales of Medical Supplies, at $1.75 billion, were 2% below last year's $1.79 billion, with unfavorable foreign exchange reducing the sales growth rate by approximately 2 percentage points.
With 2009 revenue in excess of $10 billion, Covidien has 42,000 employees worldwide in more than 60 countries, and its products are sold in over 140 countries. More...

Nov-17-2009 -- A-Power, US REG To Build US Wind Turbine Factory
The factory would use U.S. -made wind-turbine components, the company said.
The alliance was created to integrate local resources and leverage the manufacturing, engineering and government initiatives in the Shenyang area so that SPG can pursue large-scale, international projects in the alternative energy sector. More...

Nov-17-2009 -- BofA knew of Merrill pain in November: House panel
Timothy Mayopoulos, former general counsel at Bank of America, is now an executive at Fannie Mae.
For those who like mysteries, the prepared testimony of Timothy J. Mayopoulos, the former general counsel of Bank of America, presents a few. More...

Nov-17-2009 -- Industrial Production in US Rose 0.1% in October
The output of utilities increased 1.6 percent, and the operating rate for utilities advanced 1.1 percentage points to 79.0 percent.
Since June, manufacturing output gains have been catalyzed by the normal inventory cycle, in which a leveling of the rapid depletion of stocks requires positive output adjustments, and by a range of fiscal policy programs which provide only a temporary stimulus. More...

Nov-17-2009 -- TJX 3Q profit rises 32 pct as shoppers seek deals
TJX said last week that sales at stores open at least a year in October had risen 10 percent and forecast that same-store sales in the fourth quarter would rise between 5 percent and 7 percent.
TJX Cos.' (TJX) fiscal third-quarter earnings surged a stronger-than-expected 47% as the company continues to attract more customers despite a retail slump. More...

Nov-17-2009 -- UPDATE 1-Fed cuts maturity on discount window loans
The total dropped to $155 billion on October 14 and $109 billion on November 11.
WASHINGTON (Reuters) - The Federal Reserve Board said on Monday it approved an interim final rule requiring that consumers be notified when their mortgage loan has been sold or transferred. More...

Nov-17-2009 -- Coke to use common design for juice packages
Despite the current soft worldwide economy and recent volume declines in North America, growth in the middle class and urban areas around the globe will boost the ready-to-drink beverage business through 2020, Kent said.''
A dispute over pricing has led Costco ]] Costco to stop selling a number of Coca-Cola brands , which means all Coke varieties as well as Sprite, Squirt, Dasani water, and Full Throttle energy drinks, reports the Associated Press. More...

Nov-17-2009 -- U.S. net overall capital inflows surge in September
The report's most comprehensive category, "monthly net TIC flows," includes non-market flows, short-term securities and changes in banks' dollar holdings.
Overall, foreign private investors bought a net $148.1 billion of U.S. assets in September, up sharply from $29.9 billion in the previous month. More...

Nov-17-2009 -- UPDATE 1-Saks posts Q3 profit, shares up
Analysts had forecast a loss per share of 11 cents, according to Thomson Reuters I/B/E/S. Saks, which sells luxury brands such as Marc Jacobs, Versace and Oscar de la Renta, reported overall sales fell 8.5 percent to $631.4 million in the third quarter.
Shares of Saks rose to $6.87 ahead of the bell after closing at $6.41 on Monday. More...

Nov-17-2009 -- UPDATE 2-Dillard's posts Q3 profit, shares rise
The department store operator reported a net profit of $8 million, or 11 cents a share, in the third quarter that ended Oct. 31, from a $56 million loss, or 76 cents a share, a year earlier.
On average, 2 analysts polled by Thomson Reuters expected the company to report a loss of $0.51 per share for the quarter. More...

Nov-17-2009 -- Younger Buyers Challenge Luxury Retailers in Asia
'Even if we had not used a quantitative easing policy, I believe the impact of our monetary policy on Asia would be the same,' Yellen said.
HONG KONG, Nov. 17 (Xinhua) -- Hong Kong stocks Tuesday fell 29.83 points, or 0.13 percent, to close at 22,914.15 after briefly rising above 23,000 earlier in the day. More...

Tuesday

Nov-17-2009 -- South Korea targets 2020 emissions at 30 percent below forecast
"Unless there is a big change in the business situation, the business as usual target should be equivalent to a 4 percent reduction (against 2005 levels)," Woo Ki-jong, secretary-general of the presidential committee on green growth, told Reuters by telephone.
The goal is to cut the country's greenhouse gas emissions by 30 percent from its forecast, or business as usual (BAU), level in 2020. More...

Nov-17-2009 -- Ex-BofA exec says no role in bonuses
The House committee is expected to zero in on allegations that Bank of America misled shareholders about details of the Merrill deal and how the merger resulted in a multibillion-dollar government bailout.
BofA's Brian Moynihan, the chief of consumer banking, will appear on Capitol Hill Tuesday to testify about the BofA-Merrill Lynch deal. More...

Nov-17-2009 -- Millions to Owe IRS Due for Stimulus Credit
According to a report by the Treasury Department's inspector general for Tax administration, the IRS tax withholding tables do not take into account married couples or taxpayers with multiple jobs.
They voted for Obamanow it's time for them to pay for being idiots. More...

Nov-17-2009 -- Oil clings on to gains near $79; eyes dollar, data
December contracts for West Texas Intermediate crude added $2.55 to $78.90 per barrel on the New York Mercantile Exchange, while December Brent crude was up $2.45 to $78.76 per barrel on the ICE Futures Europe exchange in London.
With a lengthy calendar of economic data due on Tuesday, analysts said traders were expected to take a cautious stance and would hesitate to drive oil prices higher despite Asian equities hitting a 15-month high. More...

Nov-17-2009 -- UPDATE 3-SunPower probing accounting errors, stock drops
The maker of solar power products said some of the entries relate to its fiscal year ended Dec. 28, 2008.
Companies trading lower in after hours in reaction to earnings: PSUN -18.6%, AOB -7.5%. More...

Nov-17-2009 -- Strength in Autos Lifts Retail Sales
Retail stocks rose on Monday after the Commerce Department reported better-than-expected October sales, giving hope that consumer spending may hold up heading into the holiday season despite a record-high unemployment rate.
Retailers, including car dealers and restaurants, saw sales improve in October, a glimmer of hope before the critical holiday season although unemployment still threatens spending. More...

Nov-17-2009 -- Nissan reportedly to supply electric-car batteries to rivals
WASHINGTON -- A coalition of auto makers, battery manufacturers, utility operators and shipping companies called on Congress to offer tax credits for buying all-electric plug-in vehicles as part of a $128 billion program to get seven million such cars on the road by 2018.
The grid will still need increased investment to meet growing electricity demand, the groups said. More...

Nov-17-2009 -- Washington Blade Newspaper Closes Down
ATLANTA — The nation's largest publisher of newspapers serving the gay and lesbian community has shut down and plans to file for Chapter 7 bankruptcy.
Gauge: It was just a month ago that the Washington Blade celebrated 40 years of operations as the area's LGBT newspaper. More...

Nov-17-2009 -- Fed proposal restricts gift card fees
The proposed regulations, which apply to retail gift cards that can be redeemed at stores, would require '''clear and conspicuous''' notice of fees, and prohibit more than one inactivity or service fee a month.
The Fed also said service or inactivity fees can be imposed only under certain conditions. More...

Nov-17-2009 -- glaxosmithkline, Nabi Biopharmactuticals In Licensing Pact
Following that, Nabi started the first of two late-stage trials of NicVAX, with Glaxo holding the rights on development work past late-stage trials.
Currently available smoking cessation therapies, the companies said, have relapse rates that can be as high as 90% in the first year after a smoker quits. More...

Nov-17-2009 -- Costco Stops Restocking Coca-Cola Products in Dispute
The sugar cane being used comes from predominantly rain-fed crops that were processed into ethanol, not refined sugar.
Several billion, in fact. More...

Nov-17-2009 -- When AOL Spins Off On December 9, It Will Be Worth About $3.4 Billion
Media conglomerate Time Warner said on Monday it will spin off its AOL unit to shareholders on Dec 9, nine tumultuous years after one of the most disastrous corporate mergers in history, reports Reuters.
Time Warner Inc. (TWX) holders will get one share of AOL Inc. for each 11 shares of Time Warner they own as the planned spinoff will take place Dec. 9. More...

Monday

Nov-16-2009 -- Gold Advances to Record as Investors Seek Dollar 'Insurance'
Since 2002, prices have peaked at new highs early in the even numbered years - in 2004 at $425, in 2006 at $725, and, most recently, in 2008 at $1,035.
Better yet, search more than the first two listings you see on eBay and buy silver BELOW spot yourself. More...

Nov-16-2009 -- UPDATE 1-Sprint pays off $1 billion loan
The stock closed Friday at $3.10.
More...

Nov-16-2009 -- Markets bet on yuan rise despite China rebuff
The U.S. dollar hasn't changed its continuous downward trend against major currencies, mainly due to investors' expectations that the Federal Reserve won't raise the current low interest rates despite positive signs in the world economy.
China Bubble Forming China's purchases of dollars to prevent appreciation gave it foreign-exchange reserves totaling $2.3 trillion in the third quarter, the world's largest. More...

Nov-16-2009 -- Canon To Launch EUR730M Bid For Printer Maker Oce
Canon said in a statement it plans to launch the tender offer, which is supported by Oce's management and supervisory board, between January and March next year.
More...

Nov-16-2009 -- EADS Swings To 3Q Loss As Euro Strength Weighs
"EADS intends to reduce any further potential loss, but the full financial consequences of the delays will only be known once the negotiations are finalised," the company said in a statement.
For the nine-month period, the company's net income was EUR 291 million or EUR 0.36 per share, compared with EUR 1.08 billion or EUR 1.34 per share a year ago. More...

Nov-16-2009 -- Oil Rises From One-Month Low on Weaker Dollar, Japan's Growth
Oil prices rose above $77 a barrel Monday, helped by a weaker U.S. dollar and forecasts indicating global crude demand will improve next year.
A weaker dollar directly increases the relative value of the commodity for investors outside the USA, in simplified terms, the cheaper the dollar is, the more of the commodity an investor can buy with the same amount of the stronger domestic currency. More...

Nov-16-2009 -- New York Manufacturing Expands for a Fourth Month
On the inflation front, the prices paid index fell to 10.5 in November from 19.5 in October, while the prices received index rose to a negative 2.6 from a negative 5.2 in the previous month.
A barometer of manufacturing in New York State fell in November, suggesting factory activity moderating for the first time in four months, the New York Federal Reserve said in a report on Monday. More...

Nov-16-2009 -- Simmons files prepackaged Chapter 11 to pave way for acquisition
I'm especially pleased that the pre-packaged plan submitted to the Court provides for full payment to our employees as well as our senior lenders and suppliers.
The filing was for a prepackaged plan, which required the near-unanimous support of Simmons' creditors. More...

Nov-16-2009 -- Double Dip for Japan?
Real gross domestic product grew at an annual pace of 4.8 percent in the July-September period, the government said Monday, beating even the most bullish of predictions.
The Japanese numbers, while good, point to the dilemma of the all the wealthy nations including the U.S., U.K. and many E.U. countries. More...

Nov-16-2009 -- Genzyme Gets Complete Response Letter On Lumizyme Application - Quick Facts
Genzyme Corp., the Cambridge biotechnology company, said that the Food and Drug Administration has given it a list of deficiencies that Genzyme needs to correct at its Allston facility, which had to temporarily suspend production earlier this year to address contamination issues.
In July, a Boston-area plant was closed temporarily after inspectors found that lots of Cerezyme and Fabrazyme had been contaminated by a virus. More...

Nov-16-2009 -- Poniard Shares Tumble As Lung Cancer Drug Doesn't Meet Goal
Nov 16 (Reuters) - Poniard Pharmaceuticals Inc ( PARD.O ) said a late-stage study of its experimental lung cancer drug missed the main goal, casting a doubt on the company's ability to find a partner for the drug and sending shares down more than 80 percent.
Poniard said more of the patients on best supportive care had received chemotherapy in the past, which might have affected the trial results. More...

Nov-16-2009 -- Illinois Tool Works' Revenue Declines Continue To Moderate
Analysts polled by Thomson Reuters, whose estimates typically exclude one-time items, forecast a fourth-quarter profit of 62 cents per share.
The Glenview, Illinois-based company said it still expects fourth quarter earnings from continuing operations of 54 cents to 66 cents per share, with implied revenue rising 1% to 5% sequentially from the third quarter. More...

Monday

Nov-16-2009 -- Taiwan Stock Exchange Probes Chi Mei, Innolux Deal
Top tech brands buoyed by upbeat news from U.S. retailers (Updates indexes, adds quotes and details) TAIPEI, Nov 16 (Reuters) - Taiwan stocks rose to a one-month intraday high on Monday as upbeat news in the U.S. retail sector raised hopes for better sales in tech exporters, while Chi Mei led gains after it decided to be merge with Innolux.
"The broader market reflected a positive mood on Wall Street, while Chi Mei's decision to merge with Innolux attracted domestic as well as foreign buying," said Tom Tang, a vice president at Masterlink Investment Advisory. More...

Nov-16-2009 -- Grupo Mexico wins back copper mining unit Asarco
In less than four years, Asarco has raked in $5.6 billion in revenue and earned $623.4 million in net income, according to a financial report filed in U.S. Bankruptcy Court in Texas.
CHICAGO, Nov 14 (Reuters) - A federal judge has issued a ruling supporting a nearly $2.5 billion bid by Grupo Mexico ( GMEXICOB.MX ), the country's largest mining company, for Asarco LLC, paving the way for the U.S. copper miner to exit bankruptcy. More...

Nov-16-2009 -- China Bank Regulator Blames US Policy for Asset Bubbles
Liu Mingkang, China Banking Regulatory Commission chairman said the zero interest rate policy of the U.S. Federal Reserve posed a '''new systemic risk.'''
The Federal Reserve and most economists believe that keeping U.S. interest rates at near zero has been critical to the recovery of the American economy. More...

Nov-16-2009 -- China Still Needs Moderately Easy Monetary Policy - Think Tank
The State Information Center added that the risks of rapid credit growth could be contained and that a tightening of monetary policy would have only limited effectiveness in curbing asset price bubbles, in a report carried by the official China Securities Journal.
SHANGHAI (Reuters) - China's economy is expected to grow by a modest 8.5 percent next year while inflation will be subdued at about 2.5 percent, indicating that monetary policy should remain appropriately loose to solidify the basis of the recovery, a key government think-tank said on Monday. More...

Nov-16-2009 -- Gold hits record high, Asian shares rise
HONG KONG (Reuters) - Gold hit a record high on Monday as investors hedged against a weak dollar while Asian shares edged higher after upbeat reports from U.S. retailers underpinned confidence the global economy is recovering.
News of big share issues also dampened investor sentiment after sources said Japan's biggest bank Mitsubishi UFJ Financial Group ( 8306.T ) would issue about $11 billion in new shares. More...

Nov-16-2009 -- Hitachi May Raise More Than $4.5 Billion in Stock, Convertible Bond Sale
TOKYO (Reuters) - Hitachi Ltd, Japan's biggest electronics firm by sales, will raise up to $4.6 billion to shore up its capital, joining a scrum of Japanese firms tapping equity markets before a possible economic slowdown.
Separately, sources told Reuters on Saturday that Mitsubishi UFJ Financial Group was planning to issue about $11 billion worth of shares, in the largest public offering by a Japanese financial firm on record. More...

Nov-16-2009 -- Las Vegas Sands Eyes Growth in Macau
HONG KONG, Nov 15 (Reuters) - Las Vegas Sands Corp ( LVS.N ), the world's most valuable casino operator, hopes to generate 30 percent of its revenues in Macau from non-Chinese customers after 2011 when it completes two stalled projects in the territory, an executive said.
The company is selling 1.87 billion shares at a price ranging from HK$10.38 to HK$13.88 per share, the sources said. More...

Nov-16-2009 -- Asian Stocks Gain on Metal Prices; Mitsubishi UFJ, Hitachi Fall
One stock in focus may be Hitachi Ltd ( 6501.T ), Japan's biggest electronics firm by revenues.
TOKYO, Nov 16 (Reuters) - Japan's Nikkei stock average edged up 0.1 percent in see-saw trade on Monday, buoyed by defensive shares such as retailers but weighed down by exporters and tech shares despite data showing Japan's economy expanded at the fastest pace in two years in July-September. More...

Nov-16-2009 -- us business group eyes cost in healthcare reform
Workers at companies with fewer than 200 employees (that offer coverage) pay an average of $4,204 out of pocket per year for family health insurance, compared with $3,182 for workers at firms above the 200-employee threshold.
Bob Prybutok, president of Newark manufacturer Polymer Technologies, said he would be tempted to drop his health insurance offering, pay the penalty under the House plan, and let his employees enroll in the public option. More...

Nov-16-2009 -- Desire Drug May Prove Sex Really Is All in Her Head
The company needs new drugs because it faces the loss of 1 billion euros ($1.5 billion) in annual revenue when two older medicines, Mirapex for Parkinson's disease and Flomax to treat enlarged prostate, lose patent protection next year.
Professor Pfaus also said that flibanserin could be more effective than the presently available in the UK female sexual dysfunction drug Intrinsa ]] Intrinsa . More...

Nov-16-2009 -- Changes made to credit cards add up
While the bulk of the new rules become effective in February, the first phase of reforms is already in effect.
As hard as I tried I could not get Discover to cancel the account. More...

Nov-16-2009 -- Citigroup sells stake in Japanese call center
The deal, which the analysts initially expected would cost Bain 100 Billion Yen, has been recorded as the largest Japanese firm buyout by an overseas equity firm in almost two years.
The deal will cost Bain $1 Billion, or 95.3 Billion Yen, and Citi's complete stake will be transferred to the financial firm's ownership. More...

Sunday (Update 1)

Nov-15-2009 -- Las Vegas Sands Eyes Growth in Macau
The Hong Kong public offer of Sands China, the Macau unit of LVS, will commence at 9am today and close at 12 noon on November 19.
In a Sands China's statement yesterday, the company expected that around HK$6,347.3 million of the net proceeds will be used to repay all of the shareholders' loans and intercompany payables outstanding immediately prior to the completion of the global offering. More...

Nov-15-2009 -- Harney: How the 'move up' tax credit for homebuyers works
Houses, townhouses, condominiums and co-ops all qualify for the tax credit, as long as the price is $800,000 or less.
If you retain your existing home, the home you purchase and claim the credit on must become your principal residence for the next three consecutive years. More...

Nov-15-2009 -- Asarco bid by Grupo Mexico affirmed by US court
Assets include three copper mines and a smelter in southern Arizona.
Asarco employs about 2,200 workers in Arizona at three copper mines and a smelter. More...

Nov-15-2009 -- Vivendi May Decide to Sell NBC Stake as Sale Window Opens Today
The $30 billion deal, the final details of which are still being negotiated, will catapult Comcast from being the No. 1 cable operator to a major producer of television and movies, and will elevate Mr. Roberts to the top ranks of the media industry elite.
The strong commercial performance of SFR -- whose EBITA rose 10.2 percent in the third quarter -- and of pay-TV unit Canal Plus -- whose EBITA rose 4.4 percent-- offset a 61.1 percent slump in Universal Music's EBITA. SFR continued to reap the benefits from its merger with fixed phone operator Cegetel and delivered a strong commercial performance both in mobile and ADSL net subscriber adds. More...

Nov-15-2009 -- Repsol to Invest Up to $15 Billion in Brazil by 2020
"There are various options -- find new partners, sell a project, float the Brazilian division on the stock market, or some kind of agreement with Petrobras," Antonio Brufau said after meeting Brazilian state oil firm Petrobras ( PBR.N ) ( PETR4.SA ) president Jose Sergio Gabrielli in Rio de Janeiro.
Repsol is among Petrobras' foreign partners in offshore "subsalt" fields, thought to contain at least 50 billion barrels of light crude, which are among the world's biggest recent finds. More...

Nov-15-2009 -- The Fed in the cross hairs
The Fed's overdraft rule is stronger than the one it proposed in January.
Go Fed! In a very CFPA-ish move, the Fed has now announced that effective July 1, no bank can impose overdraft fees on its customers for ATM or debit card transactions, unless and until they explicitly ask for that "protection". More...

Nov-15-2009 -- Inside Detroit autos: Kansas City union issues fixed, Ford says
Ford Motor Co. said Saturday that it has resolved all workload issues with UAW Local 249, which represents more than 3,500 workers at the company's Kansas City Assembly Plant, but the union still plans to complete a strike authorization vote.
CLAYCOMO, Mo. — Ford Motor Co. said Saturday union concerns over working conditions at its Kansas City Assembly plant have been resolved. More...

Nov-15-2009 -- Changes made to credit cards add up
While the bulk of the new rules become effective in February, the first phase of reforms is already in effect.
"People just can't afford that." More...

Nov-15-2009 -- Rupert Murdoch: Stupid Like a Fox?
Mr Miller said there were different ways to charge people for content online and that was what News Corp was exploring.
The easiest way to break that model is to eliminate/reduce links." More...

Nov-15-2009 -- Disney Gains; Retailers Split
Positive quarterly reports Friday from Abercrombie & Fitch Co., J.C. Penney Co. and Disney offset worries about a disappointing consumer confidence report and an increase in the nation'''s trade deficit that was bigger than forecast.
Still consumer discretionary remains in positive territory. More...

Nov-15-2009 -- FHA: Housing's Safety Net Begins to Fray
Oct 8 from NY Times '''Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout.'''
The agency's backers say that criticism of the FHA foreshadows a broader philosophical debate brewing over the future role of U.S. support for housing and under-served borrowers. More...

Nov-15-2009 -- Dollar General Up 8%, rue21 Up 28% Post-IPO
NEW YORK (Reuters) - Two private equity-owned U.S. retailers, discounter Dollar General Corp ( DG.N ) and youth apparel chain rue21 Inc ( RUE.O ) rose in their trading debuts on Friday, in performances that will soothe worries that investor appetite for buyout-backed initial public offerings has waned.
The company's closing stock price Friday implies a value of $7.7 billion. More...

Sunday

Nov-15-2009 -- Overdraft fees: Finally, fair warning
New rules announced by the Federal Reserve on Thursday will restrict banks from charging overdraft fees without customers' consent on some debit card purchases, the New York Times reports.
You just have to call and ask. More...

Nov-15-2009 -- MUFG May Raise $11 Billion Via Shares Offer
The planned global regulations will likely require that common shares compose more than 4 percent of banks' core capital.
A MUFG spokesman declined to comment. More...

Nov-15-2009 -- Grupo Mexico Gets Favorable Ruling in Asarco Case
An attorney for Grupo previously said if the judge ruled in favor of Grupo, the company would be required to close the deal in 30 days and Asarco could be out of bankruptcy by Dec. 31.
Asarco filed for bankruptcy protection in 2005 amid a worker strike and more than $1 billion of asbestos and environmental claims. More...

Nov-15-2009 -- GE, AVIC I Plan Avionics Joint Venture, to Create 200 US Jobs
Lorraine Bolsinger, president and chief executive for GE's aviation systems business said the new venture wanted to work with the Commercial Aircraft Corporation of China on a proposed 168 to 190-seat aircraft.
More...

Nov-15-2009 -- FHA: Housing's Safety Net Begins to Fray
Oct 8 from NY Times '''Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming so acute that some experts warn the agency might need a federal bailout.'''
The agency's backers say that criticism of the FHA foreshadows a broader philosophical debate brewing over the future role of U.S. support for housing and under-served borrowers. More...

Nov-15-2009 -- Rate Chatter Lifts Bonds
NEW YORK (Dow Jones)--Prices for Treasurys were higher Thursday afternoon as weakness in riskier assets from U.S. stocks to crude oil futures spurred many investors to return to the comfort of low-risk government debt.
Solid earnings news from Walt Disney Co ( DIS.N ) and JC Penney Co Inc ( JCP.N ) rekindled demand for U.S. stocks, a day after the Dow snapped a six-day string of gains. More...

Nov-15-2009 -- Iberiabank Buys Two US Banks as Failure Toll Climbs to 123
The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000.
Checks will continue to be processed, and borrowers should make mortgage and loan payments as usual. More...

Nov-15-2009 -- With Playboy sale, an icon bows to changing times
Hef may soon have a new boss.
LOS ANGELES (Reuters) - Playboy founder Hugh Hefner changed American pop culture, one centerfold at a time. More...

Nov-15-2009 -- Disney Gains; Retailers Split
Upbeat quarterly reports from Disney as well as Abercrombie & Fitch Co. and J.C. Penney Co. offset worries about a slide in consumer confidence.
Retailer Abercrombie & Fitch Co ( ANF.N ) also posted a higher-than-expected profit and its stock jumped 6.7 percent to $39.22 in premarket trade. More...

Nov-15-2009 -- Nissan Leaf World Tour Comes to LA, Ghosn Preaches EV Gospel
In Los Angeles this morning, at the United States unveiling of the Nissan LEAF electric car'''set to hit showrooms in late 2010'''Nissan CEO Carlos Ghosn was enthusiastic and clearly proud of the position the Nissan-Renault Alliance has taken as a leader in the development of electric cars and charging infrastructure.
LOS ANGELES, Nov. 13 /PRNewswire/ -- The Renault-Nissan Alliance today announced that Nissan and Reliant Energy of Houston, Texas, one of the major competitive electricity providers in the nation, have forged an agreement to advance zero-emission mobility in the United States. More...

Nov-15-2009 -- Thanksgiving Dinner Costs Less to Make This Year: Chart of Day
WASHINGTON -- Americans can be thankful for lower food prices this year as the traditional Thanksgiving meal, including turkey, buttered rolls and pumpkin pie, will cost 4% less than in 2008, a farm group said.
The survey, which the group describes as "an informal gauge of price trends around the nation," includes turkey and various traditional side dishes. More...

Nov-15-2009 -- Home values could creep up next year
SAN DIEGO — Home prices are expected to grow modestly next year and sales will keep rising as the housing market continues to recover from the worst downturn since the Great Depression, the National Association of Realtors said Friday.
"With expansion of the tax credit to additional buyers through the middle of next year and no major unforeseen events impacting the economy, home prices should rise between 3 and 5 percent in 2010, but with wide geographic differences," Yun said. More...

Saturday (Update 1)

Nov-14-2009 -- Regulators close Century, Orion banks
The Office of Thrift Supervision closed Century Bank FSB of Sarasota, Fla., while Florida regulators shut down Orion Bank of Naples, Fla., and the Comptroller of the Currency took over Pacific Coast National Bank of San Clemente, Calif. The OTS appointed the Federal Deposit Insurance Corp. as receiver for Century Bank FSB. The FDIC arranged for IBERIABANK of Lafayette, La. to assume all of the failed thrift's deposits and $706 million of its $728 million in assets, with the FDIC retaining the rest for later disposition.
An hour later, an Orion Bank representative ordered a Naples Daily News reporter to leave the bank property. More...

Nov-14-2009 -- Disney Gains; Retailers Split
Upbeat quarterly reports from Disney as well as Abercrombie & Fitch Co. and J.C. Penney Co. offset worries about a slide in consumer confidence.
Retailer Abercrombie & Fitch Co ( ANF.N ) also posted a higher-than-expected profit and its stock jumped 6.7 percent to $39.22 in premarket trade. More...

Nov-14-2009 -- The Fed in the cross hairs
The Fed's overdraft rule is stronger than the one it proposed in January.
If the dollar loses 50% of the value, everything will go up 100% and a margined account could easily go up 700%. More...

Nov-14-2009 -- GM to move European headquarters to Germany
Calling the Opel plan the most important economic measure taken for any single company during the recent crisis, the council said that the government'''s obvious readiness to take risks on the part of the taxpayer in the run-up to the autumn elections was '''skillfully exploited''' by General Motors, the bidding group led by Magna International and labor representatives from Opel.
The move by GM may help smooth things over with the German government and Chancellor Angela Merkel, whom the firm is still courting in the hope Germany will contribute to '3 billion in loans it is seeking from European governments to turn the struggling Opel around. More...

Nov-14-2009 -- Obama Officials Defend Fed's Supervisory Role Against Dodd Plan
"But in our view, the Federal Reserve is the agency best equipped for the task of supervising the largest, most complex firms."
Austan Goolsbee, a member of the White House Council of Economic Advisers, said the Fed should retain a central role in supervising the banking sector and that moves to merge oversight into a single agency could cause industry "nervousness." More...

Nov-14-2009 -- Nortel Delays Auction of Optical Unit to Next Week
TORONTO — Nortel Networks Corp. says it has completed the $1.13 billion sale of its wireless network business to LM Ericsson of Sweden but is allowing more time for bids in an auction for its optical networking and carrier ethernet units.
Next-generation wireless and wired networks and the enterprise data centre must be immediately and cost-effectively able to support new business models and processes. More...

Nov-14-2009 -- Housing Agency Reserves Fall Far Below Minimum
Former Fannie Mae executive Ed Pinto, who has testified before Congress on the state of the FHA, is not so certain.
For the FHA to increase premiums, it would have to reduce the housing prospects for poorer Americans and put additional strain on the monthly mortgage costs to people with relatively low incomes. More...

Nov-14-2009 -- Madoff's personal belongings up for auction in NYC
A pair of computer virtuosos helped conceal Bernie Madoff's $65 billion ripoff - and shook the Ponzi schemer down for hush money two years before his arrest, court records revealed Friday.
Across the ballroom hung a blue satin New York Mets jacket with "Madoff" stitched on the back, valued at up to $720. More...

Nov-14-2009 -- Rate Chatter Lifts Bonds
In late trading, the price of the benchmark 10-year Treasury note rose 6/32 to 99 18/32.
The value of a bond that is redeemable in currency is necessarily linked to the value of that currency. More...

Nov-14-2009 -- Vivendi Tops Telef''nica On GVT Bid
SAO PAULO, Brazil, Nov 13 (Reuters) - Shares of GVT ( GVTT3.SA ), the Brazilian telecommunications target of a takeover attempt by two global rivals, posted on Friday their biggest tumble since late August, as suitors are seen as increasingly unlikely to raise their bids further.
Asked if the split was a done deal, CEO Augusting de Romanet told French daily Les Echos: 'in my view, no'. More...

Nov-14-2009 -- New Issue-Thermo Fisher Scientific sells $750 mln notes
Thermo Fisher Scientific Inc. has announced a cash tender offer for its 2.50 percent senior convertible notes due 2023.
The offering for $350 million of 2.15 percent senior notes due 2012 was priced at 99.855 percent of the principal amount. More...

Nov-14-2009 -- With Playboy sale, an icon bows to changing times
Hef may soon have a new boss.
LOS ANGELES (Reuters) - Playboy founder Hugh Hefner changed American pop culture, one centerfold at a time. More...

Saturday

Nov-14-2009 -- Recession Over in Euro Zone, Report Says
Gross domestic product grew 0.4 percent in the 16 countries which share the Euro as a currency and 0.2 percent in the 27 countries which comprise the European Union.
We have now been in recession since March last year - an unprecedented six quarters. More...

Nov-14-2009 -- Nissan's Ghosn Says Electric-Car Demand May Exceed US Target
Nissan, which plans to begin selling a plug-in vehicle called the Leaf next year, and Reliant agreed to lobby for public policies "that make it easy for consumers to make the switch from gasoline to electric-powered vehicles," the press release said, and aim to make Houston a "launch city."
The Nissan LEAF is the only all-electric, zero-emission vehicle that will be available to drivers on a mass-market scale and at an affordable price," said Nissan President and CEO Carlos Ghosn. More...

Nov-14-2009 -- The Fed in the cross hairs
The Fed's overdraft rule is stronger than the one it proposed in January.
If credit is too tight and economic activity stagnates, consumer spending wanes and unemployment rises. More...

Nov-14-2009 -- US Economy: Consumer Sentiment Unexpectedly Falls
November's unexpected drop in consumer sentiment will likely renew the debate on the sustainability of the U.S. economic recovery.
Even though consumer sentiment ]] consumer sentiment dropped as unemployment ]] unemployment rose, you can find the seeds of economic recovery in some of the U.S. import and export data reported recently. More...

Nov-14-2009 -- Improvement in U.S. Trade Gap Looks Over Already
"Going forward, we expect that with the U.S. economy out of recession, import demand will continue to grow and that as the global recovery builds momentum, U.S. exports will also increase," Dawn Desjardins, assistant chief economist at Royal Bank of Canada, said in a research note.
In late October, the Commerce Department said the economy grew at a 3.5 percent rate in the third quarter. More...

Nov-14-2009 -- Orion Bank closed as insurance fund takes $1 billion hit
The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000.
Regulators closed two banks in Florida, turning their deposits and branches over to Iberiabank Corp. of Lafayette, La., and shut another small one in California. More...

Nov-14-2009 -- Home-buyer tax credit will boost sales, housing market will stabilize: NAR
Home resales rose in September to the highest level in more than two years, something Yun said shows buyers are eager to get back into the market.
The latest annual National Association of Realtors Profile of Home Buyers and Sellers, released Friday , found that the share of first-time homebuyers rose to 47 percent of all home sales, compared with 41 percent in the 2008 study -- with 55 percent of first-time buyers using a Federal Housing Administration-insured loan and 8 percent using the Veterans Affairs loan program. More...

Nov-14-2009 -- Switzerland takes Google to court
The Street View facility allows users to take a ground level panoramic view of some locations on Google Maps, based on still photographs taken by specially-equipped vehicles.
The commissioner's office added that even when faces are blurred by Google, the zoom function enables a user to enlarge images of individuals. More...

Nov-14-2009 -- Japan's SMFG, Mizuho Post Improved Results
Revenue fell 21.9 percent to 1.49 trillion yen in the first-half period.
Economists expect deflation to persist until at least the second quarter of 2011, a Reuters poll recently showed, meaning that interest rates and revenues from lending will have little chance for growth. More...

Nov-14-2009 -- JC Penney Raises Sales Outlook; Abercrombie & Fitch Looks Overseas for Growth
NEW YORK — Department store chain J.C. Penney Co. reported a 78 percent drop in its third-quarter earnings because of a big expense for its pension plan, and its revenue slipped from a year earlier.
Lower costs, more customers buying goods at full price, and rising sales of private-label brands -- which bring higher profits than national brands -- contributed equally to the improvement. More...

Nov-14-2009 -- KKR's Dollar General IPO Rises to $824 Million on Share Option
NEW YORK (Reuters) - Two private equity-owned U.S. retailers, discounter Dollar General Corp ( DG.N ) and youth apparel chain rue21 Inc ( RUE.O ) rose in their trading debuts on Friday, in performances that will soothe worries that investor appetite for buyout-backed initial public offerings has waned.
Dollar General shares are set to begin trade on Friday on the New York Stock Exchange under the symbol "DG." More...

Nov-14-2009 -- With Playboy sale, an icon bows to changing times
Hef may soon have a new boss.
Playboy's entertainment revenue rose 37% to $2.3 million in the third quarter from last year. More...

Friday (Update 1)

Nov-13-2009 -- Saab Automobile Will Cut More Than a Third of US Dealers
General Motors sent a letter to Saab dealerships today regarding the sale of the brand to Swedish super carmaker Koenigsegg, and notifying 81 of Saab'''s 218 U.S. dealerships of their termination.
The new owner will reject 81 Saab dealers in the United States, while moving forward with the remaining 137 dealers after the deal closes by a targeted date of November 30. More...

Nov-13-2009 -- INSTANT VIEW: Consumer sentiment dips in November
November's unexpected drop in consumer sentiment will likely renew the debate on the sustainability of the U.S. economic recovery.
NEW YORK (Reuters) - U.S. consumer sentiment fell in early November to the weakest in three months amid grim expectations for job and income prospects, a survey showed on Friday. More...

Nov-13-2009 -- JC Penney Profit Falls 78%; Holiday View Guarded
The department store operator'''s adjusted-profit of 30 cents a share was well above analysts''' forecast for EPS of 11 cents.
J.C. Penney Co. ( JCP ) is expected to report Q3 earnings before the market open on Friday, November 13 with a conference call scheduled for 9:30 am ET. More...

Nov-13-2009 -- Dollar General Stock Opens Up 5% Post-IPO >DG
NEW YORK, Nov 13 (Reuters) - Shares of discount retailer Dollar General Corp ( DG.N ) rose in their debut on the New York Stock Exchange, opening at $22, or 4.8 percent above Thursday's initial public offering price of $21.
Despite widespread perceptions that its initial public offering had priced shares too expensively, Dollar General (DG) 'has risen'in early trading, pushing its valuation up to the top end of the range. More...

Nov-13-2009 -- Liberty Global Will Buy German Cable Company Unitymedia for $2.98 Billion
Liberty Global pays €3.5B for Germany's Unitymedia.
Unitymedia said the deal is expected to close in the first half of 2010, subject to regulatory approvals, and will increase customers' access to new technology. More...

Nov-13-2009 -- PENPIX-A look at Fed voters this year and next
The Fed still allows institutions to charge an unlimited quantity of overdraft fees, would do nothing to make fees proportional to the amount of the overdraft, and would not address the manipulation of posting order of charges to accounts.
Speaking on the issue, chairman of the Federal Reserve Ben Bernanke said, "The final overdraft rules represent an important step forward in consumer protection." More...

Nov-13-2009 -- Dollar slips on light profit-taking as yen gains
NEW YORK -- The dollar strengthened against the euro after worse-than-expected U.S. consumer sentiment data released Friday morning, but then reversed those gains and settled back into recent trading ranges as investors focused on interest rate differentials.
Australia and Norway have already started raising interest rates but yesterday's report from the Bank of England means that policy makers are unlikely to shift to a tightening bias before the third quarter of next year. More...

Nov-13-2009 -- UPDATE 2-Green Mountain buys Canadian licensee, ups outlook
Timothy's wholesale coffee business distributes to retailers, online retailers, offices, hotels, grocery stores and food service establishments throughout Canada and the United States.
For fiscal 2010, the company now expects earnings per share in the range of $1.85 to $1.95, up from prior estimates of $1.75 to $1.85 per share. More...

Nov-13-2009 -- Patchy Euro-Zone Recovery Reflects Imbalances
"The region is at least out of recession and still on track to grow by a reasonably solid 1.5 percent odd next year, but there is scant evidence yet of the pickup in domestic demand needed to sustain a stronger recovery," said Jonathan Loynes, chief European economist at Capital Economics.
"The European Central Bank faces the major challenge of balancing a return to growth in the stronger large eurozone economies with ongoing weakness in economies like Spain, Greece and Ireland," said Charles Davis, senior economist at the Centre for Economic and Business Research in London. More...

Nov-13-2009 -- Swiss privacy watchdog to sue Google Street View
Google criticized the decision and said it would defend itself in the case.
"Numerous faces and vehicle number plates are not made sufficiently unrecognisable," said data protection commissioner Hanspeter Thuer. More...

Nov-13-2009 -- Rajaratnam Moves to Unseal 2000 Case Against Informant
Roomy Khan, a central government witness in the insider trading case against Galleon Group founder Raj Rajaratnam, told a judge she tipped several people at hedge funds with inside information on companies to make money from trades, Reuters reported, citing a court document.
"I deleted an incriminating email sent to me sent to me from one of my co-conspirators, rather than turning it over to the government investigators," Ms. Khan said. More...

Nov-13-2009 -- Playboy in talks with Griffiths, Golden Gate
Bloomberg said that Playboy'''s management has been looking for a buyer since Scott Flanders was appointed as chief executive in June, replacing Christie Hefner.
A news report by Bloomberg said Iconix has examined Playboy's finances, but there's no guarantee of a deal, citing people close to the situation. More...

Friday

Nov-13-2009 -- FBI doubts Rothstein ran a Ponzi scheme alone
The FBI confirmed Thursday what many have speculated since the Scott Rothstein scandal broke: The flashy lawyer could not have defrauded investors of hundreds of millions without help.
Estimates of the size of the investment scheme allegedly carried out by politically connected Fort Lauderdale attorney Scott Rothstein have now soared to $1 billion, up from $500 million, which was up from $100 million. More...

Nov-13-2009 -- Yuan Forwards Rise Before Obama Visit as China May Allow Gains
BEIJING, Nov. 12 (Xinhua) -- China would not let the yuan gain against the U.S. dollar in the short term, experts said here Thursday when commenting on the latest quarterly report of China's central bank.
Mid-point Previous day's mid-point Previous day's close 6.8273 6.8268 6.8266 SOURCE: The People's Bank of China, the central bank, issues the data through the interbank market, the China Foreign Exchange Trade System (www.chinamoney.com.cn). More...

Nov-13-2009 -- For Comcast's Chief, Content Led the Way
Comcast and General Electric Co ( GE.N ) are in talks to on a deal that would give the cable operator a 51 percent stake in a $30 billion NBC Universal joint venture, according to people familiar with the discussions.
Getting paid two ways is better. More...

Nov-13-2009 -- Airlines Fight for Safety-Upgrade Funds
WASHINGTON — Transportation Secretary Ray LaHood said Thursday he will create a special panel to come up with a plan to restore health to the ailing airline industry, which is losing billions of dollars, shedding jobs and blamed for using a business model that critics say undermines safety.
After a day of closed-door meetings, Mr. LaHood announced the formation of a blue-ribbon study group to tackle the most pressing problems. More...

Nov-13-2009 -- Corporate Watch
AOL ( NYSE: TWX ) announced about 100 layoffs earlier this week and more to come, along with continued restructuring.
Jeff Zucker Is Not Going Anywhere Jeff Zucker, CEO and president of NBC Universal, has been trying to turn digital dimes into digital dollars for years. More...

Nov-13-2009 -- Slaughterhouse Manager Convicted in Fraud Case
Assistant U.S. Attorney Peter Deegan Jr. said Sholom Rubashkin, the former manager of Iowa kosher meatpacking plant Agriprocessors, masterminded a fraud scheme and harbored immigrants at the plant.
The 12-person jury decision on Thursday in Sioux Falls, S.D. likely means that Rubashkin, 50, will spend the rest of his life in prison; combined sentences could reach over 1,250 years. More...

Nov-13-2009 -- Dollar General IPO prices at low end
The retailer sold 6.77 million shares, raising a total of $128.5 million.
To read the registration filing for Dollar General ( DG - news - people ) is to realize that, even after a few troubled years, the buyout kings have lost none of their old swagger. More...

Nov-13-2009 -- Boeing: 787 fix is complete on first plane
The company said it expects to complete the installations on the static test airframe and the second flight-test airplane in the coming days.
Although the newer cockpits are much more advanced, need only two (well really one) people, and have far fewer switches, there seems to be some connection lost between the pilot and plane. More...

Nov-13-2009 -- Mortgages Decline to Lowest Rates in Five Weeks
The Mortgage Bankers Association MBA publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages, 1 year ARMs as well as application volume for both purchase and refinance applications.
NEW YORK, Nov 12 (Reuters) - Refinancing drove total U.S. mortgage applications higher last week as fixed borrowing costs fell further below 5 percent, but home purchase demand sank to a nine-year low, an industry group said on Thursday. More...

Nov-13-2009 -- Exxon, Chevron Fall, But Wal-Mart Gains
NEW YORKEnergy stocks, including Exxon Mobil and Chevron, pushed the market lower as crude-oil futures fell, although Wal-Mart Stores rose after its third-quarter earnings topped the discount retailer's guidance.
NEW YORK (Dow Jones)--U.S. stocks moved to their lowest point of the session near midday Thursday as crude oil futures extended their declines, pulling the energy sector down further, while the dollar continued to climb. More...

Nov-13-2009 -- D-FW foreclosures set record highs
Even though filings remained 19 percent higher than a year earlier, " hree consecutive monthly declines is unprecedented for our report," RealtyTrac CEO James Saccacio said in a statement.
BOA sent me a bogus modification with a 9.5% interest making my payments higher then the orriginal loan. More...

Nov-13-2009 -- Mercedes may bring small luxury car to US by 2012, Zetsche says
Zetsche says that orders for heavy trucks, a leading indicator of economic health, are picking up slightly.
"There are quite a number of positive changes going for Chrysler, but certainly the environment continues to be very tough and the competition isn't forgiving at all," Zetsche said during a roundtable discussion with reporters in New York. More...

Nov-12-2009 -- Jobless claims lowest since January
There were 502,000 initial job claims filed in the week ended Nov. 7, down from an upwardly revised 514,000 the previous week, the Labor Department said in a weekly report.
All times are ET. : Time reflects local markets trading time. - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer More...

Nov-12-2009 -- Cash cushion shrivels - US housing agency
Just over half the loans made to African-Americans in 2008 were FHA loans, according to mortgage data compiled by the Federal Financial Institutions Examination Council.
NEW YORK (CNNMoney.com) -- The mortgage meltdown has ravaged the finances of a crucial government agency tasked with propping up the housing industry. More...

Nov-12-2009 -- GE sells security arm to United Tech for $1.82 bln
BOSTON, Nov 12 (Reuters) - General Electric Co ( GE.N ) will sell its security business to United Technologies Corp ( UTX.N ) for $1.82 billion, a deal that marks a step in the largest U.S. conglomerate's portfolio streamlining.
More...

Nov-12-2009 -- UPDATE 1-Geithner stresses strong dollar's global role
Soaring budget deficits, which hit a record $1.4 trillion in fiscal 2009 and will likely be near that in 2010, have weakened the dollar because of huge U.S. borrowing to meet the U.S.' s day-to-day spending needs. As he did throughout the past week, at meetings of the Group of 20 in Scotland last weekend and in Tokyo earlier this week, Geithner acknowledged the U.S. carried a special burden for protecting the currency's value because it is the global reserve currency.
More...

Thursday

Nov-12-2009 -- HP's 3Com Acquisition Will Challenge Cisco
HP's bigger challenge in making the deal a success will be removing the tarnish that remains on the 3Com's brand in the U.S. and Europe as a result of years of mismanagement.
More...

Nov-12-2009 -- UPDATE 2-Applied Materials sees turnaround but cuts jobs
SAN FRANCISCO, Nov 11 (Reuters) - Applied Materials Inc ( AMAT.O ), the world's largest producer of chip-making gear, said on Wednesday that its microchip business was starting to turn around and posted its first quarterly profit in a year, but it plans to cut as much as 12 percent of its workforce.
Applied Materials Chief Executive Mike Splinter also said the company saw improvement in the solar photovoltaic market during the fourth quarter, with module price decline slowing and financing opportunities gradually improving. More...

Nov-12-2009 -- Geithner wants strong dollar, will tackle deficit
TOKYO (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday he believes strongly in the need to maintain a strong dollar and said the United States was determined to get its budget deficit down.
More...

Nov-12-2009 -- Churchill Downs to buy Youbet.com
Churchill Downs Inc. has agreed to buy Youbet.com Inc. of Burbank in a deal valued at about $127 million.
The cash-and-stock deal will pay Youbet shareholders 97 cents a share in cash for each Youbet.com share, plus 0.0598 shares of Churchill stock. More...

Nov-12-2009 -- AT&T demands Verizon pull its ads comparing coverage
AT&T on Wednesday upped the ante in its legal spat with Verizon, accusing it in an amended complaint of twisting facts in a trio of holiday ads to make AT&T's wireless network coverage look a lot worse than it is.
More...

Nov-12-2009 -- Macy's lessens 3rd quarter losses
The profit outlook, including a tempered forecast for the fourth quarter, didn't go as high as analysts expected, and shares fell $1.57, or more than 8 percent, to close at $17.86.
More...

Wednesday (Update 1)

Nov-11-2009 -- Greek Swelling Deficit a Concern for Euro Area, Almunia Says
THE EUROPEAN Commission will confirm this morning that it will give the Government a one-year extension to its 2013 target to restore stability to the public finances, a move that will push out the deadline until 2014.
"We shouldn't stop stimulating too early." More...

Nov-11-2009 -- Flower Foods 3Q Profit Up 16%; Sees '09 At Low End Of Forecast
Nov 11 (Reuters) - Bakery company Flowers Foods Inc ( FLO.N ) posted quarterly sales below market estimates and cut its full-year outlook, weighed down by competition and higher promotional activity, sending its shares down as much as 8 percent.
Gross margin for the 40-week period was 46.4% of sales compared to 47.5% for the 40-week period of 2008. More...

Nov-11-2009 -- Oil Prices Rise on Weaker Dollar
By late afternoon Wednesday Singapore time, the benchmark U.S. crude contract for December delivery was hovering slightly below $79 per barrel in electronic trading on the New York Mercantile Exchange.
NEW YORK — The government said Tuesday that oil prices should average about $77 a barrel this winter, 10 percent more than its estimates issued just last month. More...

Nov-11-2009 -- Wal-Mart looks to control crowds on Black Friday
NEW YORK - Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books.
The deals are not just in traditional holiday categories, but also in groceries and other nondiscretionary items. More...

Nov-11-2009 -- CKE Restaurants October same-store sales fall 5.4 pct
For the third quarter, same-store sales fell 3.7 percent, with Carl's Jr falling 5.2 percent and Hardee's down 1.8 percent.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More...

Nov-11-2009 -- Smart Modular Technologies Raises 1Q Outlook; Shares Up
The Company expects to report GAAP diluted net income per share in the range of $0.04 to $0.06 for the first quarter of fiscal 2010, substantially exceeding its previous guidance of ($0.01) to $0.01 per share announced on October 1, 2009.
The Company expects to report net sales in the range of $110 to $120 million, more than 10% higher than the previous guidance of $98 to $105 million. More...

Nov-11-2009 -- IESI-BFC to Buy Waste Services for About $370 Million
The combined company will be diversified across U.S. and Canadian markets, customer segments and service lines, while maintaining a commitment to excellent customer service, environmental stewardship, and community support.
The combined company, to be headquartered in Toronto, will have more than 6,000 employees serving commercial, industrial and residential customers in 11 U.S. states and the District of Columbia, and in six Canadian provinces. More...

Nov-11-2009 -- Canada's Dollar Advances to Highest Level in Almost Three Weeks
The U.S. Dollar hit a 15-month low against a basket of currencies last night on the prospect the Fed will keep interest rates at low levels for a prolonged period of time.
Semi-official supply was noted above $1.5040, initially capping the rally around $1.5045, with the rate remaining buoyed mid-morning. More...

Nov-11-2009 -- Gold Futures May Avoid Deep Price-Break On Buyer Momentum
Gold for December delivery soared as high as $1,111.70 on the New York Mercantile Exchange before settling at $1,101.40 an ounce, up $5.70, or 0.5 percent.
As the Dollar fell to 15-month lows Gold pushed higher setting yet another record and was last changing hands at $1,117, meanwhile longer dated 2010 futures breached $1,120. More...

Nov-11-2009 -- devry raises dividend, to buy back $50 million more shares
The new program will be expiring on Dec. 31, 2011.
More...

Nov-11-2009 -- TPG Might Invest in JAL
As the government works to save the firm, U.S. carriers American Airlines and Delta Air Lines Inc. (DAL) continue to compete for a partnership with JAL. The financial benefit of an alliance offers JAL another route to recovery, while in return the U.S. firms hope to gain access to JAL's lucrative Asian routes.
Japan Airlines has decided not to pay its executives in December. More...

Nov-11-2009 -- ING Swings To 3Q Net Profit, Will Grow Bank Ops
AMSTERDAM ( TheStreet ) -- ING ( ING Quote ), the Dutch financial services company, reported underlying net profit of 778 million euros ($1.17 billion) in the third quarter, a swing from a year-earlier loss of 568 million euros, as it benefited from strong performances in financial markets.
AMSTERDAM (Dow Jones)--ING NV (ING) will take a decision on how it wants to spin off its insurance business in the coming months and will not issue new shares to repay the remaining state aid it received last year, its Chief Executive said Wednesday. More...

Wednesday

Nov-11-2009 -- Sanofi Taps Biotech Firm to Bolster Its Pipeline
As under the original terms, sanofi-aventis has the exclusive option to co-develop with Regeneron each antibody drug candidate discovered under the collaboration.
Most of the money isn't subject to reaching specific research or marketing milestones. More...

Nov-11-2009 -- Japanese Bonds Gain a Second Day as Higher Yields Boost Demand
TOKYO (Reuters) - Japan's finance minister said he was concerned about rising long-term bond yields and his Democratic Party-led government must ensure its spending plans don't rattle the trust of bond investors.
Wednesday, Nov. 18 COMPANIES 0730 -- Mitsubishi UFJ Financial Group ( 8306.T ) H1 results Thursday, Nov.19 ECONOMY/POLITICS/MARKETS -- Bank of Japan begins two-day policy board meeting 0500 -- OECD Secretary-General Angel Gurria speaks at the Japan National Press Club 0130 -- 20-year JGB auction 0345 -- 20-year JGB auction result COMPANIES 0700 -- Semiconductor Equipment Association of Japan to release October book-to-bill ratio Friday, Nov. 20 ECONOMY/POLITICS/MARKETS -- Bank of Japan ends two-day policy board meeting, to be followed by a news conference by BOJ Governor Masaaki Shirakawa. -- Cabinet meeting followed by news conferences from Finance Minister Hiroshisa Fujii and Strategy Minister Naoto Kan. 0700 -- Head of UNHCR Antonio Guterres to hold a news conference at the Japan National Press Club, to speak about conditions in Afghanistan, Pakistan and Iraq. More...

Nov-11-2009 -- China Trade Surplus Swells, Adding Yuan Pressure
China doesn't have a timeline for ending its "loose" monetary policy, a central banker said yesterday ahead of data likely to show the nation's economic recovery is strengthening.
The solid consensus is that growth will be stronger, possibly a lot stronger, in 2010, when China is set to overtake Japan as the world's second-largest economy. More...

Nov-11-2009 -- US foreclosure program helping more people, but how much still unclear
The Obama administration today announced that over 650,000 borrowers have entered into trial loan modifications under a housing help program designed to keep people in their homes, a success rate of one in five eligible homeowners.
Through October, Saxon Mortgage Services put 44% of eligible delinquent borrowers in trial modifications -- the highest percentage of about two dozen companies. More...

Nov-11-2009 -- Cultural Bent Hangs Over Oracle's Battle for Sun
NEW YORK (Dow Jones)--The European Commission raised objections to Oracle Corp.' s (ORCL) proposed $7.4 billion acquisition of Sun Microsystems Inc. (JAVA), drawing rebukes not only from Oracle but also from the U.S. Department of Justice.
The DOJ said Monday that '''the merger is unlikely to be anticompetitive''' and that it had found that '''there is a large community of developers and users of Sun'''s open source database with significant expertise in maintaining and improving the software, and who could support a derivative version of it.''' More...

Nov-11-2009 -- Adobe cuts 680 more jobs
Adobe ( NSDQ: ADBE ) is going through its second round of layoffs in a year.
Adobe is laying off another 680 workers as part of a new "restructuring plan." More...

Nov-11-2009 -- UPDATE 2-State owned bank to provide JAL Y100 bln - sources
American Airlines is working hard to keep Japan Airlines Corp. in the oneworld alliance, offering to expand cooperation and inject funds into the debt-ridden carrier, which is currently seeking aid from the Japanese government.
Cost cutting needs to be balanced against the notion that an airline cannot be shrunk into profitability. More...

Nov-11-2009 -- Logitech Buys Videoconferencing Outfit LifeSize
'We believe that together with Logitech, we can realize that vision for all enterprises ' private and public ' and small and medium businesses,' says Craig Malloy, LifeSize co-founder and chief executive officer, in a prepared statement.
LifeSize has raised $80 million in funding from Norwest, Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures. More...

Nov-11-2009 -- Yen Gains on Dollar, Euro as Japan Machine Orders Rise More Than Forecast
The British pound climbed to $1.6752 from $1.6602, while the dollar inched up to 89.99 Japanese yen from 89.93 yen.
"Also, the Fonterra news has lifted the kiwi and other commodity currencies." More...

Nov-11-2009 -- For Fedex, Holidays May Bring An Upturn
NEW YORK — FedEx is predicting a little more holiday cheer this year.
Glenn was referring to improving home sales, retail sales growth projections and news of economic growth in the third quarter after four quarters of declines. More...

Nov-11-2009 -- Philadelphia Newspapers' Lenders Dealt Setback
Judge bars credit bid in Phila.
The auction is the centerpiece of the newspaper company's reorganization plan to emerge from bankruptcy. More...

Nov-11-2009 -- Banking: Not Everyone Gets a Bonus
JP Morgan has removed a salary freeze on employees earning over $60,000 and is giving a one-time $500 award to lower-paid executives, The Wall Street Journal reports.
Bank branch managers saw a decrease of 5.8% and commercial loan officers saw no increase. More...

Tuesday (Update 1)

Nov-10-2009 -- UPDATE 1-Clearwire to raise more than $1.5 billion
Sprint Nextell announced Monday that it will eliminate between 2,000 and 2,500 positions by the end of this year.
All Sprint employees are nothing more than temps. More...

Nov-10-2009 -- Obama home rescue: 650000 get help
NEW YORK (CNNMoney.com) -- Some 650,000 troubled borrowers have been put into trial loan modifications under the president's foreclosure rescue plan, the Treasury Department said Tuesday.
When the massive $75 billion program was first outlined in late February, the White House said it hoped to modify 3-4 million mortgages in two years, which would mean 375,000 to 500 million a quarter. More...

Nov-10-2009 -- Tyco Intl First-Quarter Forecast Trails Estimates
The company looks for sales to fall at a low-double-digit percentage rate through the first half of the fiscal year, with the rate of decline slowing in the third quarter and growth perhaps returning by the fourth quarter, Breen said.
Security products and services company Tyco International Ltd. ( ]] ) said Tuesday that its fourth quarter profit plunged 53% from last year, but results were still enough to beat analyst expectations. More...

Nov-10-2009 -- PRECIOUS METALS: Weaker Dollar Moves NY Gold Higher
Besdies, dollar continues to remain weak.
In New York, oil for December delivery rose well over 79 a barrel. More...

Nov-10-2009 -- SMIC Gets a New Chief Executive
The payment could exacerbate the company's losses, which have totaled US$822 million over the past seven years under Chang's leadership, the experts said.
SMIC was reportedly desperate for a cash infusion when Beijing-based Datang Telecom Technology & Industry Holdings Co. Ltd. acquired a 16.6 percent stake in the company for $172 million last year. More...

Nov-10-2009 -- BofA CEO says history will vindicate recent deals
The Charlotte bank's 15-member board continues to consider insiders Greg Curl and Brian Moynihan, as well as least two outside candidates, the Wall Street Journal reported.
The bank's 2004 FleetBoston Financial deal had fared much better than expected, and it had made a big splash by buying credit card giant MBNA at the beginning of 2006. More...

Nov-10-2009 -- Beazer Homes Swings To Profit On Debt-Buyback Gain
Demand for the company's new homes was spurred by low prices and mortgage interest rates and a federal tax credit for first-time home buyers, Chief Executive Ian McCarthy said.
In premarket trading, shares of Beazer Homes rose to $5.00, from Monday's close of $4.69. More...

Nov-10-2009 -- Consumption worries knock German investor morale
Trading the given event risk favors a bearish outlook for the single-currency as economists forecast investor confidence to weakened for the second month in November but nevertheless, price action following an enhanced ZEW survey could set the stage for a long euro-dollar trade as the economy emerges from the recession.
SENTIMENT among German investors dipped slightly in November and now stands at an indexed 51.1 points, according to the ZEW economic research institute. More...

Nov-10-2009 -- Dollar Rises From Almost 15-Month Low on Reduced Risk Demand
TOKYO, Nov 10 (Reuters) - Fitch Ratings would have to review its AA-minus rating on Japanese government bonds if there were a material increase in debt issuance above the current 44 trillion yen ($490 billion) next fiscal year, a ratings director said.
Citing Indonesian economy's relatively strong resilience to the global recession and its healthy medium-term growth prospects, the Moody's Investors Service had upgraded Indonesia's foreign-and local-currency sovereign debt ratings to Ba2 from Ba3, on September 16. More...

Nov-10-2009 -- MBIA Seeks To Exclude Coverage Of More Mortgages: CFO
Book value per share was $13.16 as of September 30, 2009 compared with $4.78 as of December 31, 2008.
NEW YORK — MBIA Inc. said Monday that it incurred heavier losses in its insurance business than expected, saddling the bond insurer with a third-quarter loss after two straight quarters of profits. More...

Nov-10-2009 -- US Home Sales Rise to Two-Year High on Tax Credit
In a nut shell, first-time home buyers are eligible for a tax credit of 10% the purchase price of a new home, with a maximum credit of $8000.
Under the federal proposal, which only awaited President Barack Obama's signature as of Monday, the program will not only continue the $8,000 credit for first-time buyers, but expand to homebuyers with existing homes, according to an Associated Press story. More...

Nov-10-2009 -- Union fears 160 Lloyds job cuts
The bank, which was bailed out by the government, had already announced a total reduction of 6,400 jobs in the first half of the year.
The Government is now a 43% shareholder in the combined group after pumping in an initial ''17 billion. More...

Tuesday

Nov-10-2009 -- Fitch Says Japan Recovery to Be 'Modest and Fragile'
The ratings for NSPM take into consideration the company's historically strong and consistent cash flows, constructive regulatory environments, and projected growth resulting from investments in rate base.
The rating outlook remains "Negative." More...

Nov-10-2009 -- Gold Drops for First Day in Three as Dollar Rebound Spurs Sales
In the long run, will it matter? (And we all know how the Chinese are able to think in terms of the long run.)
Noting that discomfort over the dollar's weakness was mounting, BofA Merrill Lynch said India's decision to diversify into gold could signal a realisation in the developing world that the "beggar-thy-neighbour" policies pursued by some G10 nations to get out of recession had natural limits. More...

Nov-10-2009 -- CPSC Issues Recall on Children's Strollers
All Maclaren single and double strollers sold in the United States since 1999 ''' totalling about one million ''' are affected by the voluntary recall in the U.S., announced jointly Monday by Maclaren USA and the U.S. Consumer Product Safety Commission.
Health Canada currently has not required any action on the part of Maclaren USA, Inc. or Kushies Baby, the distributor of Maclaren strollers in Canada. More...

Nov-10-2009 -- Low-cost airlines gain ground against full-price rivals
Departing flights at Pittsburgh International Airport were on schedule 88.9 percent of the time in September, above the national average.
From 1990 through 2000, annual spending on domestic airline travel averaged 0.74% of the USA's gross domestic product, according to Bill Swelbar, a researcher and lecturer at MIT's International Center for Air Transportation. More...

Nov-10-2009 -- EA-Playfish: Social Gaming Deals Gain Buzz
The company said the reduction of 1,500 jobs -- about 17 percent of the company's workforce -- will result in annual cost savings of at least $100 million.
EA is way too dependent on the console market and has been slow to embrace the shift to web-based gaming. More...

Nov-10-2009 -- Rupert Murdoch's threat unlikely to worry Google
In an interview with Sky News Australia over the weekend, Rupert Murdoch said that he might remove his newspapers from Google after he throws up pay walls and starts charging for content.
The opportunity here for a new face (again, think Apple) to step in with a free service tuned to the new landscape is high, and dangerous to the incumbents. More...

Nov-10-2009 -- HK shares hit 2-wk high on Wall St rally; China gains
I stray from my tale of woe, or how not to keep one's hand on the till.
HONG KONG, Nov 9 (Reuters) - Hong Kong stocks are set to open 0.8 percent higher, tracking firmer overseas markets with a persistent inflow of funds supporting a further rise in the local market, and finance plays such as China Life ( 2628.HK ) leading gains. More...

Nov-10-2009 -- Sprint to Cut as Much as 6% of Jobs as Subscriber Rolls Shrink
Shares of Clearwire were up more than five percent in trading this morning after The Wall Street Journal reported that the Kirkland provider of broadband wireless service was close to a deal to raise $1.5 billion in fresh capital.
The loss of more Sprint jobs is especially hurtful to the local economy. More...

Nov-10-2009 -- JGB futures gain; govt shows concern over rising rates
The dollar fell 0.1 percent to 89.84 yen JPY=, edging towards an eight-month low of 88.01 yen hit on trading platform EBS a month ago.
The Democrats rode to power in an election in August pledging to pay out household allowances, make high schools free and abolish surcharges on cars and gasoline. More...

Nov-10-2009 -- Court Is Cool to Patents on Methods
Legal education organization will live blog court proceedings for landmark intellectual property decision on November 9 WASHINGTON, Nov. 6 /PRNewswire-USNewswire/ -- On Monday, November 9, 2009, in Washington, D.C., the United States Supreme Court will hear oral arguments in the much anticipated Bilski case, which could well decide whether business methods and software remain patentable in the United States.
Deputy Solicitor General Malcolm Stewart, meanwhile, argued in defense of the "machine-or-transformation" test. More...

Nov-10-2009 -- P&G to centralize research facilities
P rocter & Gamble Co. will close its Needham research and development facility by 2012.
P&G employees in Lewisburg were summoned to meetings Monday and informed of the upcoming changes, a spokesman said. More...

Nov-10-2009 -- California recovers $27 million from fire insurers
"I will not consider an increase in the claims cost benchmark until I see substantial efforts being made by insurers to use all available tools to constrain costs and improve efficiency."
Poizner said that of the 40,000 claims of damage or loss during the 2007 wildfires, nearly 99 percent have been fully paid, for a total of $2.3 billion. More...

Monday (Update 1)

Nov-09-2009 -- Overseas growth fuels mcdonald's October sales
Comparable sales rose 4.7 percent in the company's Asia Pacific, Middle East and Africa segment, driven by Japan and Australia.
Comparable sales rose 4.7 percent in the company's Asia Pacific, Middle East and Africa segment, driven by Japan and Australia. More...

Nov-09-2009 -- Murdoch plans to block Google searches entirely
"I think we will but that's when we start charging," he said.
The threat to remove content from Google will hardly trouble the search giant. More...

Nov-09-2009 -- Sprint Nextel to invest more in Clearwire: WSJ
Sprint will invest $1 billion and its Clearwire joint venture partners, a consortium which includes Comcast, Intel, Time Warner Cable and Bright House Networks, will contribute the remaining $500 million.
Sprint ended up with 51%, with existing Clearwire shareholders at 27% and the new investors at 22%. More...

Nov-09-2009 -- Advanta Files for Protection, Bank May Face Takeover
Advanta Corp., a Spring House, Montgomery County, credit card lender that froze customer accounts last spring, filed for bankruptcy protection late Sunday because it does not have enough money to meet all its obligations, including those to holders of its retail investment notes.
DENVER, Nov. 9 /PRNewswire-FirstCall/ -- Teton Energy Corporation ("Teton") (Nasdaq: TEC) today announced that it and each of its subsidiaries have filed voluntary Chapter 11 petitions and a proposed plan of reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. More...

Nov-09-2009 -- Enzon sells specialty drug business for $300M
Under the terms of the transaction, which is expected to be completed during the first quarter of 2010, Enzon's manufacturing facility in Indianapolis, Indiana will also be purchased by a U.S. subsidiary of sigma-tau Group, Sigma-Tau Pharmaceuticals, Inc. Sigma-Tau Pharmaceuticals will be the sole distributor of Enzon's marketed products - Oncaspar, Adagen, DepoCyt, and Abelcet - in the U.S. market.
Sigma-Tau Pharmaceuticals, a subsidiary of the group, will distribute the products in the U.S. market. More...

Nov-09-2009 -- Rockwell Auto profit drops, warns outlook unclear
In the same quarter a year ago, the Milwaukee, Wisconsin-based company had recorded net income of $125.6 million or $0.87 per share, adjusted net income of $156.0 million or $1.08 per share, and revenues of $1.48 billion.
"We expect a recovery, but no one knows what the shape of the recovery will be." More...

Nov-09-2009 -- Editor Departs Chinese Magazine After High-Profile Tussle
Two people who work at the 11-year-old financial news magazine said on condition of anonymity that Hu Shuli left the magazine and was likely to take up a post at Zhongshan University in Guangzhou, a bustling city in southern China close to Hong Kong.
The more the media reports on Hu's new magazine, the further it recedes from her. More...

Nov-09-2009 -- Tech Firms Watch Supreme Court Patent Case
Legal education organization will live blog court proceedings for landmark intellectual property decision on November 9 WASHINGTON, Nov. 6 /PRNewswire-USNewswire/ -- On Monday, November 9, 2009, in Washington, D.C., the United States Supreme Court will hear oral arguments in the much anticipated Bilski case, which could well decide whether business methods and software remain patentable in the United States.
The case of Bilski v. Kappos, set for argument today, has been touted as the biggest patent case in decades, with implications for the full range of 21st century-style inventions from software to medical diagnostics, not just so-called "business methods" like the one at issue. More...

Nov-09-2009 -- Wynn Resorts announces special cash dividend
However the opening of the Encore Las Vegas Resort last December has helped to improve Wynn'''s revenue through hotel, food, retail and entertainment venues.
The Board of Directors for Wynn Resorts LTD ( WYNN : 62.60 +4.80% ) has approved a special dividend payout for its shareholders on record as of November 19 at $4 per share. More...

Nov-09-2009 -- Energy Conversion posts second straight loss
ROCHESTER HILLS, Mich., Nov. 9 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building-integrated and commercial rooftop markets, today announced financial results for the first quarter of its fiscal year 2010.
The thin-film solar products company noted in a statement that new construction and re-roofing projects "continued to be slow, negatively impacting sales" through building materials channels. More...

Nov-09-2009 -- The Marchionne revolution at Chrysler
According to a report from Reuters, Chrysler has disbanded its ENVI program and integrated the group back into its normal product development organization.
As Reuters reports, Chrysler spokesman Nick Cappa said on Friday that an in-house team of electric car development engineers had been disbanded in favor of a more traditional organization.' Cappa said, "Envi is absorbed into the normal vehicle development program." More...

Nov-09-2009 -- Car parts maker Lear emerges from bankruptcy
SOUTHFIELD, Mich., Nov. 9 /PRNewswire-FirstCall/ -- Lear Corporation, a leading global supplier of automotive seating systems, electrical distribution systems and electronic products, announced today that it has successfully emerged from its court-supervised financial reorganization with a strong and flexible balance sheet, positive operating results in the Third Quarter, a growing sales backlog and a robust competitive profile.
More than half of Lear's new business comes from outside North America. More...

Monday

Nov-09-2009 -- Nikkei flat after us data as techs slip
TOKYO, Nov 9 (Reuters) - Japan's Nikkei average was flat on Monday as the market digested U.S. jobs data that had both negative and positive aspects for equities, though tech shares were weak after a key U.S. index for chip stocks fell.
TOKYO, Nov. 9 (Xinhua) -- Tokyo stocks opened lower Monday, as a stronger yen erodes exporters' profits. More...

Nov-09-2009 -- Probe finds jump in runaway Toyota complaints: report
Owner complaints helped trigger at least eight investigations into sudden acceleration in Toyota and Lexus vehicles by the National Highway Traffic Safety Administration in the last seven years.
Neither vehicle is included in the current recall. More...

Nov-09-2009 -- Gas prices edge higher
SAN DIEGO - The average price of a gallon of self-serve regular gasoline in San Diego County was unchanged today, remaining at $2.987, a day after falling a half-cent.
More...

Nov-09-2009 -- Grocery workers union never had strike approval
At issue is health benefits for workers, which were paid for by the company.
PHOENIX — In less than a week, unionized workers at two Arizona grocery store chains may be walking a picket line instead of stocking shelves and cutting meat. More...

Nov-09-2009 -- Fed's Bullard: need solid recovery before tightening
The move follows disappointing growth data last week that showed Britain unexpectedly shrank in the third quarter.
NEW YORK, Nov 8 (Reuters) - The Federal Reserve could remove some of the extraordinary support it has extended to the U.S. economy once the recovery looks solid and monthly job growth has returned, a top U.S. central bank official told the Financial Times. More...

Nov-09-2009 -- Making good sense of a Roth conversion
You will have to pay a price today for potential long term benefits that may really mount up.
Keep in mind that you can choose to only convert a portion of your traditional IRA assets. More...

Nov-09-2009 -- Big E implosion sparks hopes of new riverfront
"Nationwide and literally all over the world have been touched by the Showplace on the Ohio, the Executive Inn Rivermont," Heath Eric said, another former employee.
As soon as the countdown to the implosion began, excitement set in. More...

Nov-09-2009 -- Geithner Says 'Continued Policy Support' Needed for Recovery
ST. ANDREWS, Scotland — Britain called for consideration of a global tax on financial transactions to insure against another crisis and urged world finance officials meeting Saturday in Scotland to agree on bearing the cost of fighting climate change.
Until Mr Brown's speech, St Andrews had been tipped to be a relatively low-key G20 meeting, coming so soon after the leaders summit in Pittsburgh at the end of September. More...

Nov-09-2009 -- Asia Day Ahead: Japanese Investors Top China Buying Treasuries
Billionaire Warren Buffett's investment firm has reported that profits almost tripled in the third quarter.
Most of the swing in earnings is related to an unrealized $1.7 billion gain on Berkshire's derivatives, some of which are tied to credit defaults and some of which are tied to equity markets. More...

Nov-09-2009 -- Coffee Shop Owner Seeking New Business Permit
VASSALBORO -- The controversial Grand View Topless Coffee Shop could make a comeback.
The property was not insured. More...

Nov-09-2009 -- Clunkers get junked; junkers get shredded
WASHINGTON -- The most common deals under the government's $3 billion "Cash for Clunkers" program, aimed at putting more fuel-efficient cars on the road, replaced old Ford or Chevrolet pickups with new ones that get only marginally better gas mileage, according to an analysis of new federal data by the Associated Press.
For purposes of Wisconsin's sales and use tax laws, the amount of the electronic voucher applied by the car dealer under the "CARS" program as a partial payment or down payment towards a person's purchase of a new fuel efficient vehicle is NOT subject to Wisconsin sales or use tax. More...

Nov-09-2009 -- Unemployment rises to 10.2% in October
The truth is that the unemployment problem, or more specifically, the lack of real jobs that contribute to the bottom line of the economy, is far worse than it was in the Great Depression.
What possibly has been accomplished to allow small and mid-sized businesses to flourish and creat employment opportunities for America? Obama is correct bailing out Wall Street has shown no advantage to the average american, as trillions of stimulus dollars were wasted upon big banks that are STILL tied to trillions in derivatives and Credit Default swaps and similiar toxic assets. More...

Sunday (Update 1)

Nov-08-2009 -- REFILE-UPDATE 1-Opel unions see autonomy as condition to talks
Magna had long been expected to complete a takeover of Opel along with its Russian funding partner Sberbank, but it had decided instead to keep the European firm citing improved business conditions.
Meanwhile a GM executive set to become Opel's chairman, was quoted as saying on Sunday that the U.S. company would probably stick to a plan to cut costs at Opel by 30 percent. More...

Nov-08-2009 -- Singh: Economy to Grow 7% in 2010
Prime Minister Manmohan Singh today said there were clear signs of an upturn in the Indian economy and, with a normal monsoon next year, the country hoped to achieve a growth rate of over 7 per cent.
The Indian government had resorted to various stimulus packages and corrective actions to meet the economic crisis. More...

Nov-08-2009 -- Software cos. eye key patent case in Supreme Court
WASHINGTON — With the technology industry looking on, the Supreme Court on Monday will explore what types of inventions should be eligible for a patent in a pivotal case that could undermine such legal protections for software.
The high court ruled unanimously in 2008 in Quanta v. LG Electronics that patent rights were exhausted once a product was sold. More...

Nov-08-2009 -- Workers aren't raiding 401(k) accounts, survey finds
"Employers and financial advisers have been increasingly vocal about the negative impact that cashing out of a 401(k) plan has on retirement savings," said Pamela Hess, Hewitt's director of retirement research.
For a married couple filing jointly in the 25 percent tax bracket (income between $67,900 and $137,050), a $10,000 withdrawal would incur a $1,000 penalty plus $2,500 in income tax, leaving only $6,500. More...

Nov-08-2009 -- Constellation Energy, EDF complete deal for Calvert reactor
Constellation Energy and EdF today closed the $4.5-billion deal to let the French government owned company take over nearly half of Constellation's nuclear operations.
Constellation's nuclear business includes three nuclear power stations with five reactors in Maryland and New York. More...

Nov-08-2009 -- More Profit For AIG, But Challenge Too
November 06, 2009 5:23 p.m. NEW YORK - AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
Life insurance and retirement services had a 16 percent drop in premium income. More...

Nov-08-2009 -- Thousands of Floridians' tax refunds undeliverable
The Internal Revenue Service said Thursday that it has about 108,000 unclaimed tax refunds worth more than $123 million, including nearly 250 checks for people whose last known addresses were in south Alabama and Mississippi.
Ionia, Barry, Newaygo and Montcalm also have some taxpayers due money. More...

Nov-08-2009 -- New round of bank closures to cost FDIC $1.5 billion
The FDIC agreed to absorb most of the expected losses on about $7.7 billion of the United Commercial assets acquired by East West.
East West agreed to assume all of United Commercial's deposits, so no depositors will lose money, the Federal Deposit Insurance Corp. said. More...

Nov-08-2009 -- Chicago gets new area code, 872
Phone numbers with the new 534 area code may be assigned in some areas as soon as Aug. 14, 2010.
The new codes will not affect 211, 411, or 911 calling. More...

Nov-08-2009 -- UPDATE 1-Mexico's Walmex Oct same-store sales up 5.1 pct
NEW YORK — Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books.
Q+A Douglas Ferguson How will we consume media in five and 10 years' time? Ferguson: When everything is digitized and libraries offer materials, we will have access to anything and everything whenever we choose, at a trivial long-tail price. More...

Nov-08-2009 -- NYMEX-Crude ends nearly 3 pct off on jobless gloom
Crude oil for December delivery rose as much as 51 cents, or 0.6 percent, to $80.13 a barrel in electronic trading on the New York Mercantile Exchange.
The U.S. Labor Department said the economy lost 190,000 jobs in October, while the unemployment rate jumped to 10.2 percent from 9.8 percent in September. More...

Nov-08-2009 -- Nuts and Bolts of Five-Year Rule on Roth IRAs
Fidelity Investments is offering new resources to help investors and advisors decide if converting a regular IRA to a Roth IRA makes financial sense, adding a conversion evaluator calculator to its website that takes 20 minutes or less to use: fidelity.com/rothevaluator .
If wealth transfer is an issue, you will be better off paying taxes on a traditional IRA at current income tax levels instead of at higher estate tax levels. More...

Sunday

Nov-08-2009 -- 75% of state taxpayers filed electronically this year
The Internal Revenue Service has 1,140 refund checks worth more than $1 million for Utah taxpayers that were returned by the U.S. Postal Service due to mailing address errors, the IRS said this week.
If some of that money is yours, taking a minute to update your address can help you get it. More...

Nov-08-2009 -- Dollar Falls as Job Losses Anchor Fed's Pledge to Keep Rate Low
The euro earlier got a boost after European Central Bank President Jean-Claude Trichet presented an optimistic tone on euro zone growth, saying the economy will recover next year.
The supple-ment will be set at 0.25 percentage points for loans with three-month and six-month maturities and at 0.30 percentage points for loans with twelve-month maturities. More...

Nov-08-2009 -- UPDATE 1-Mexico's Walmex Oct same-store sales up 5.1 pct
NEW YORK — Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books.
With another tough holiday season looming, Wal-Mart Stores Inc. is ratcheting up a price war that could be good for shoppers but has competitors fearing the worst. More...

Nov-08-2009 -- Kraft set to sweeten Cadbury offer, but unions fear a bitter ending
This weekend Franklin Resources, Cadbury's biggest shareholder, revealed that it targeted Cadbury as a takeover candidate before the Kraft approach and had an acceptable price in mind.
In September, Cadbury immediately rejected Kraft's cash and stock bid, then valued at GBP10.2 billion ( $16.9 billion ). More...

Nov-08-2009 -- Broader Measure of US Unemployment Stands at 17.5%
The number of people forced to work part time has nearly doubled to 9.3 million.
The Labor Department revealed the latest jobs report and the picture was not pretty. More...

Nov-08-2009 -- Backers of Malibu septic ban rode wave of surfers' testimony
PRESS RELEASE Following a 10-hour meeting, with hundreds in attendance, the Los Angeles Regional Water Quality Control Board voted 5-2 to ban new septic systems in central and eastern Malibu, and force existing ones to halt wastewater discharges by the year 2020.
The Surfrider Foundation's West Los Angeles/Malibu Chapter along with a coalition of environmental groups including Heal the Bay, Santa Monica Baykeeper and the Malibu Surfing Association were out in full-force at the hearing with t-shirts, speaker and support cards, buttons, and over 1,100 petition signatures advocating for "Clean Water at the 'Bu." More...

Nov-08-2009 -- Whiskey bottle worth $3500 stolen from Fla. store
Store employees didn't notice the item was missing until Monday, November 2, but the entire heist was caught on surveillance video.
The theft occurred last Friday, but store employees didn't notice the bottle was missing until Monday. More...

Nov-08-2009 -- Heath Waldenbooks to close in January
A Borders Express shop also will be shuttering at Emerald Square Mall in North Attleborough.
Animas Valley Mall Manager Jeff Ring was unavailable for comment Friday, and store employees could not comment on the status of the store's closing. More...

Nov-08-2009 -- More Profit For AIG, But Challenge Too
November 06, 2009 5:23 p.m. NEW YORK - AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
Sales for the New York-based company rose 189% to $26 billion, topping analysts' forecasts of $23 billion. More...

Nov-08-2009 -- Geithner Says 'Continued Policy Support' Needed for Recovery
ST. ANDREWS, Scotland — Britain called for consideration of a global tax on financial transactions to insure against another crisis and urged world finance officials meeting Saturday in Scotland to agree on bearing the cost of fighting climate change.
U.S. Treasury Secretary Timothy Geithner warned that ending stimulus measures too early would be damaging to the economy. More...

Nov-08-2009 -- Introducing: Tales of Holiday Retail
NEW YORK (Reuters) - U.S. retail chains reported October sales slightly ahead of Wall Street expectations as consumers' austere approach to shopping slowly warms before the holiday season.
Retailers are facing significantly easier year-ago comparisons, as last year, the industry posted a 4.1% decline in October. More...

Nov-08-2009 -- Starbucks Pushes Instant, Seattle's Best for Growth
There's a difference between being in some fast-food stores in the region and partnering nationally with a company that will soon pass McDonald's in total locations worldwide (about 32,000).
Despite responding to the recession by closing hundreds of cafes, streamlining and negotiating lower rents, the Wall Street Journal has said that it will be difficult for Starbucks to remain at the top when the economy stabilizes. More...

Saturday (Update 1)

Nov-07-2009 -- Top Cadbury Holder Franklin Bought for M&A, Awaits Kraft Offer
"Obviously, Kraft needs Cadbury a lot more than Cadbury needs Kraft," said Lee Linthicum, global packaged food research manager at Euromonitor International.
City analysts believe Cadbury shareholders would back the bid if it was towards 850p. More...

Nov-07-2009 -- 5.1% Rise in Same Store Sales Reported by Wal-Mart de Mexico
NEW YORK — Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books.
Toys R Us Inc. has opened hundreds of pop-up holiday toy shops nationwide and will offer "exceptional values and deals every day throughout the holiday season," a company spokeswoman said. More...

Nov-07-2009 -- Tandberg Shareholders: Cisco Offer Too Low
Cisco has set a Nov. 9 deadline on the offer, and has said it needs 90 percent of shareholders to approve the deal before it moves forward.
The networking gearmaker plowed over fiscal first-quarter targets and raised its second quarter guidance above analysts' forecasts Wednesday, giving the impression that there is an improving momentum to Cisco's business. More...

Nov-07-2009 -- US Consumer Credit Fell in September, Eighth Drop
The Federal Reserve announced that consumer debt fell by $14.8 billion during the month, significantly more than the $10 billion economists forecast.
Non-revolving debt, which includes auto loans and personal loans, fell at a 3.7 percent annual rate or by $4.9 billion to $1.57 trillion. More...

Nov-07-2009 -- More Profit For AIG, But Challenge Too
American International Group Inc. 's (AIG) third-quarter profit was driven by higher investment income and gains in the market value of its invested assets, while its core insurance operations struggled with a weak economy and lingering negative perceptions in the marketplace.
AIG lost nearly $100 billion that year. More...

Nov-07-2009 -- Berkshire Hathaway says 3Q profit triples to $3.2B
NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
Berkshire already owns a 22 percent stake in Burlington Northern and would buy up the rest under the deal, which did not affect the third-quarter results. More...

Nov-07-2009 -- UPDATE 1-Shell to pay $19.5 mln for California violations
The ruling adopts a settlement reached in September between Attorney General Jerry Brown and Shell Oil Products Co. LLC, Equillon Enterprises LLC, and TMR Co., formerly Texaco Refining & Marketing Inc. "Shell Oil Co. disregarded the state's underground fuel storage and hazardous waste laws, committing hundreds of environmental violations at its gasoline stations across California," Brown said in a statement.
More...

Nov-07-2009 -- Whiskey bottle worth $3500 stolen from Fla. store
Store employees didn't notice the item was missing until Monday, November 2, but the entire heist was caught on surveillance video.
The theft occurred last Friday, but store employees didn't notice the bottle was missing until Monday. More...

Nov-07-2009 -- Boston Scientific to Settle
Under the terms of the agreement, Guidant will plead to two misdemeanor charges related to failure to include information in reports to the U.S. Food and Drug Administration (FDA), and Boston Scientific will pay $296 million on behalf of Guidant.
Shares of Boston Scientific fell 1.9 percent to $7.90 in premarket trading. More...

Nov-07-2009 -- Chinese capital aims for a stake in AES
The power company said it will sell 125.5 million shares, or a 15 percent stake, to a unit of China's sovereign wealth fund at $12.60 each, for about $1.58 billion.
Located in Hebei Province, a second phase is expected to reach commercial operation in 2010, boosting total output to 98MW. Separately, AES entered into a binding stock purchase agreement with a wholly-owned investment subsidiary of CIC to raise $1.58bn of new equity to fund growth opportunities and extend its global presence in the power sector. More...

Nov-07-2009 -- UPDATE 1-Wall St trial summations hone in on 'toast' email
NEW YORK, Nov 6 (Reuters) - The government's allegations of fraud against two former Bear Stearns hedge fund managers were built on "hindsight bias," including emails selected out of context, a defense lawyer told a jury in closing arguments on Friday at their trial in New York.
According to the NYT, Butswinkas said the details of the strategies used by the two hedge funds run by the men and the context of the communications from Cioffi and Tannin raised doubts about the prosecution's case. More...

Nov-07-2009 -- NYMEX-Crude ends nearly 3 pct off on jobless gloom
Crude oil for December delivery rose as much as 51 cents, or 0.6 percent, to $80.13 a barrel in electronic trading on the New York Mercantile Exchange.
Brent crude on the ICE futures exchange closed $2.12, or 2.7% lower, at $75.87 a barrel. More...

Saturday

Nov-07-2009 -- UPDATE 1-Mexico's Walmex Oct same-store sales up 5.1 pct
Not all retailers appear to be engaging in the tug of war, as Best Buy Co., Barnes & Noble Inc. and Borders Group Inc. all had higher prices for some of the DVDs Friday.
All three companies also sweetened the pot by offering free shipping for the DVDs being sold. More...

Nov-07-2009 -- More Profit For AIG, But Challenge Too
American International Group Inc. 's (AIG) third-quarter profit was driven by higher investment income and gains in the market value of its invested assets, while its core insurance operations struggled with a weak economy and lingering negative perceptions in the marketplace.
In total, AIG can call on $182.3 billion in assistance from the Government, of which it has used $120.7 billion. More...

Nov-07-2009 -- Beijing Slams USTariffs in Growing Clash
The U.S. Commerce Department on Thursday slapped preliminary anti-dumping duties on Chinese-made steel pipes used in the oil and gas industry.
The move came ahead of U.S. President Barack Obama's visit to China from Nov. 15 to 18. More...

Nov-07-2009 -- CORRECT:Insider-Trading Probe To Have Lasting Effects -sec's Khuzami
Bharara said the arrests of Rajaratnam and the five others had been a "wake-up call for Wall Street" and that Thursday's announcement meant "the alarm bells have only grown louder.
Five of the 14 have already pleaded guilty, including Roomy Khan, the tipster who let authorities in on the web of alleged insider trades surrounding Galleon founder Raj Rajaratnam. More...

Nov-07-2009 -- Boston Scientific to Settle
Under the terms of the agreement, Guidant will plead to two misdemeanor charges related to failure to include information in reports to the U.S. Food and Drug Administration (FDA), and Boston Scientific will pay $296 million on behalf of Guidant.
Boston Scientific, which had previously disclosed the investigation of Guidant by the U.S. attorney's office in Minneapolis, noted in a press release that Guidant's alleged misconduct occurred before Boston Scientific bought Guidant in 2006. More...

Nov-07-2009 -- Demand Worries Drag Crude Oil Down More Than $2
PERTH, Nov 6 (Reuters) - Oil rose slightly on Friday, supported by positive U.S. economic data, but wariness ahead of monthly jobs data from the United States limited gains and kept its price below the psychologically key $80 level.
Last year's third quarter was one of the best for oil companies as crude contracts soared above $147 a barrel. More...

Nov-07-2009 -- NYMEX-Crude ends nearly 3 pct off on jobless gloom
PERTH, Nov 6 (Reuters) - Oil rose slightly on Friday, supported by positive U.S. economic data, but wariness ahead of monthly jobs data from the United States limited gains and kept its price below the psychologically key $80 level.
Last year's third quarter was one of the best for oil companies as crude contracts soared above $147 a barrel. More...

Nov-07-2009 -- UPDATE 1-Wall St trial summations hone in on 'toast' email
NEW YORK, Nov 6 (Reuters) - The government's allegations of fraud against two former Bear Stearns hedge fund managers were built on "hindsight bias," including emails selected out of context, a defense lawyer told a jury in closing arguments on Friday at their trial in New York.
Cioffi, 53, and Tannin, 47, pleaded not guilty last year to conspiracy and fraud charges — the first criminal case to hit Wall Street amid the housing market meltdown. More...

Nov-07-2009 -- Credit slides for 8th month
The Federal Reserve announced that consumer debt fell by $14.8 billion during the month, significantly more than the $10 billion economists forecast.
Non-revolving debt, which includes auto loans and personal loans, fell at a 3.7 percent annual rate or by $4.9 billion to $1.57 trillion. More...

Nov-07-2009 -- US Should Give More Detail on Guarantee, Panel Says
Federal government guarantees to back up bank assets during the financial crisis posed a "considerable risk to taxpayers" last year, but the guarantees ultimately played "a significant role" in calming the markets, and now taxpayers appear set to earn a profit, a government watchdog panel said Friday.
Warren gained prominence as an early voice questioning whether Treasury was providing enough transparency as it doled out the bailout money. More...

Nov-07-2009 -- IRS has 1140 checks for Utah taxpayers
The Internal Revenue Service said Thursday that it has about 108,000 unclaimed tax refunds worth more than $123 million, including nearly 250 checks for people whose last known addresses were in south Alabama and Mississippi.
If some of that money is yours, taking a minute to update your address can help you get it. More...

Nov-07-2009 -- Sun Micro sales take hit as Oracle merger drags out
NEW YORK, Nov 6 (Reuters) - Computer maker Sun Microsystems Inc (JAVA.O: Quote, Profile, Research ) suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle Corp (ORCL.O: Quote, Profile, Research ) hurt its business.
The Santa Clara, California-based company reported a net loss for the first quarter of $120 million or $0.16 per share, compared to a loss of $1.68 billion or $2.24 per share in the year-ago quarter. More...

Friday (Update 1)

Nov-06-2009 -- UPDATE 2-Blackstone posts profit; sees more deals ahead
The Blackstone Group on Friday reported a $275 million profit for the third quarter, as the giant publicly held private equity firm bounced back from the depths of the financial crisis last year.
Net Fee Related Earnings from Operations were $24.0'million for the third quarter of 2009, a decrease from $25.2'million for the second quarter of 2009 and from $42.4'million for the third quarter of 2008. More...

Nov-06-2009 -- UPDATE 1-STR Holdings IPO prices below range at $10
Underwriters have the option to purchase up to an additional 1.845 million shares.
The solar company, the first one to launch an initial public offering in more than a year, is offering 3.3 million shares, while selling shareholders are offering 9 million. More...

Nov-06-2009 -- Edison third-quarter profit falls on lower power prices
Profit at the company's Southern California Edison rose, but was more than offset by lower earnings at Edison Mission Group, where earnings from coal- and gas-fired projects dropped as a result of lower energy prices and from lower trading income.
Edison International's (EIX) third-quarter profit fell a less-than-expected 8.2% as earnings were hurt by a decline in revenue amid lower energy prices. More...

Nov-06-2009 -- Schottenfeld Draws Scrutiny After Goffer Arrest in Insider Case
Bharara said the arrests of Rajaratnam and the five others had been a "wake-up call for Wall Street" and that Thursday's announcement meant "the alarm bells have only grown louder.
The cooperators include Roomy Khan, a key witness in last month's charges against Rajaratnam, along with current or former hedge fund managers in Massachusetts and California. More...

Nov-06-2009 -- AerCap posts smaller third-quarter profit
Net spread, the difference between basic lease rents and interest expense excluding the impact from the mark-to-market of interest rate caps, was $114.6 million in third quarter 2009 compared to $93.3 million in third quarter 2008, an increase of 23%.
The decrease was mainly due to lower aircraft sales revenue and lower maintenance revenue, partially offset by higher basic lease revenue. -- Sales revenue for the third quarter 2009 was $49.0 million, compared to $122.4 million for the same period in 2008, and was generated from the sale of one aircraft, three engines and parts inventory. More...

Nov-06-2009 -- UPDATE 1-FreightCar America Q3 profit sinks, to cut more jobs
The railcar maker also said it will cut more jobs and salaries to further reduce costs, and that it was looking to expand into other markets for revenue growth.
Shares slid 5.5% to $24.20 in premarket action. More...

Nov-06-2009 -- Fortress shares fall on 3rd-quarter loss
At the end of the quarter Fortress managed $32 billion in assets, down from $34.3 billion a year earlier as it tried to block redemptions.
Fortress shares were down 5 percent or 23 cents at $4.34 in morning trading. More...

Nov-06-2009 -- Now Bailout Expectations Are Built In: Warren
Federal government guarantees to back up bank assets during the financial crisis posed a "considerable risk to taxpayers" last year, but the guarantees ultimately played "a significant role" in calming the markets and now taxpayers appear set to earn a profit, a government watchdog said Friday.
One of the federal government'''s most opaque methods for bailing out the banking system allowed a handful of giant institutions to save up to $25 billion on their borrowing costs, a Congressional panel estimated on Friday, Edmund L. Andrews writes in The New York Times. More...

Nov-06-2009 -- Scripps Networks 3Q Earnings Up 14% Amid 2008 Charge
CINCINNATI — Scripps Networks Interactive Inc. said Friday its third-quarter profit climbed 37 percent, boosted by strong revenue at its Food Network and HGTV networks.
The partnership will take on $878 million in third-party debt that will be guaranteed by Scripps and indemnified by Cox, the company said. More...

Nov-06-2009 -- Nowotny Says ECB Hasn't Decided to Stop 12-Month Loan
Investors will be focused on the flow of important U.S. econ data along with more Q3 earnings reports before Wednesday'''s FOMC meeting.
On the dollar, we expect no news either. More...

Nov-06-2009 -- AES to Sell Stock, Wind-Power Stake to China's CIC
Located in Hebei Province, a second phase is expected to reach commercial operation in 2010, boosting total output to 98MW. Separately, AES entered into a binding stock purchase agreement with a wholly-owned investment subsidiary of CIC to raise $1.58bn of new equity to fund growth opportunities and extend its global presence in the power sector.
More...

Nov-06-2009 -- Florida recruit driven be personal loss
On behalf of parents and students, the American Civil Liberties Union on Thursday sued state officials in Palm Beach County Circuit Court.
The main problem is that school does not prepare the vast majority of the students for ANYTHING. Most people do not need to go to college. More...

Friday

Nov-06-2009 -- NEC to Raise $1.48 Billion
The capital raising, tipped by sources on Thursday, sent the firm's shares up 10.5 percent.
More...

Nov-06-2009 -- World's Central Banks Signal End to Policy 'Largesse'
ECB holds rates at 1 pct, suggests end of 1-yr tenders (Adds comments from ECB's Trichet) By Kirsten Donovan LONDON, Nov 5 (Reuters) - Interbank dollar lending rates marked new lows on Thursday but sterling and euro rates edged higher as major central banks laid out their latest policy positions and views on the economic recovery.
Markets will look for the Reserve Bank of Australia's (RBA) statement on monetary policy due out at 0030 GMT for clues on whether it will continue to raise rates in December. More...

Nov-06-2009 -- Mortgage Rate Falls Below 5%
A year ago, the 5-year ARM averaged 6.19 percent.
A Freddie Mac survey out today shows the average fixed rate for a traditional 30-year home loan was back below 5% this week. More...

Nov-06-2009 -- Van stolen 35 years ago in Wash. state recovered
The bus is in pristine condition and still runs, customs officials said in a press release.
Law officers said the van, which is in great shape, was stolen from an upholstery shop in Spokane on July 12, 1974 — while Spokane was hosting the 1974 World's Fair. More...

Nov-06-2009 -- UPDATE 3-CBS profit beats Street, even as advertising hurts
CBS, home to the top rated TV broadcast network, reported net earnings of $207.6 million, or 30 cents a share, compared to a loss of $12.46 billion, or $18.58 a share, a year ago, when it wrote down billions of dollars in assets.
Plus, retransmission fee revenue will double next year based on contracts already signed, Moonves added. More...

Nov-06-2009 -- REFILE-Deutsche Bank unit files for 100 mln new UUP shares
Just hours before the Federal Reserve announced plans Wednesday to maintain the federal-funds target rate at current levels, options traders rallied around the PowerShares DB U.S. Dollar Index Bullish Fund, pulling the trigger on large transactions valued at hundreds of thousands of dollars.
Trading in the exchange-traded fund, which tracks the performance of the U.S. dollar index against a basket of currencies, was briefly halted on Thursday. More...

Nov-06-2009 -- UPDATE 3-Citi to raise up to $100 mln in Primerica IPO
NEW YORK, Nov 5 (Reuters) - Citigroup Inc ( C.N ) said on Thursday that it plans to sell shares of its Primerica Inc life insurance business to the public, as the bank looks to shed assets outside its main businesses.
NEW YORK ( TheStreet )-- Citigroup's ( C Quote ) Primerica financial services and insurance unit is going public. More...

Nov-06-2009 -- Nvidia sees Q4 revenue above Street estimates
SAN FRANCISCO, Nov 5 (Reuters) - Graphics chipmaker Nvidia Corp (NVDA.O: Quote, Profile, Research ) forecast fourth quarter revenue above Wall Street expectations, and said its new server and mobile chips were gaining momentum.
Analysts currently expect the company to post revenue of $868.11 million. More...

Nov-06-2009 -- UPDATE 3-IMS agrees to $4 bln deal, biggest LBO this year
IMS Health, which provides market research to the pharmaceutical and health-care industries, has agreed to be acquired for $5.2 billion by private equity firm TPG Capital and the CPP Investment Board.
The deal, which drew interest from a number of rival private-equity firms, is the latest sign that improving financial markets have started to ease access to capital, rebuild corporate share prices and repair confidence shattered by last year's credit crisis. More...

Nov-06-2009 -- CVS Rivals Have Better Prescription
WOONSOCKET ''' CVS Caremark Corp. saw its stock price fall as much as 24 percent Thursday morning, the most in eight years, after the company said it lost $3.7 billion in pharmacy-benefit management (PBM) contracts during the third quarter.
The shares had recovered somewhat to $28.62, down 21 percent, at 2:50 p.m. Ryan said he will temporarily take over the PBM business from executive vice president Howard McLure, who is retiring, while the company searches for a new leader. More...

Nov-06-2009 -- Leap 3Q loss widens as subscriber growth slows
The company said that year-over-year increase reflected several factors, including newer customers in some of the company's new markets, competitive pressures and "the significant effect of rising unemployment in our key customer segments, which decreased available discretionary income and resulted in increased deactivations."
The company noted that it is seeing an "increasingly competitive operating environment" as well as "sustained economic pressure our our key customer segments." More...

Nov-06-2009 -- US Wants South Korea to Remove Auto-Sale Barriers, Kirk Says
All we are asking for is for our own auto companies to be able to compete on a level playing field in the Korean market," U.S. Trade Representative Ron Kirk said in the prepared text of a speech.
The Lisbon Treaty, also known as the Reform Treaty, is an international agreement signed in Lisbon on Dec. 13, 2007 with the objective of overhauling the European Union's operational system. More...

Thursday (Update 1)

Nov-05-2009 -- Hyatt Hotels, Ancestry.com Climb Post-IPO
Hyatt's stock gained $1.96, or 7.8 percent, to $26.96 in morning trading.
The offering is structured so the Pritzker family would own 80 percent of Hyatt's Class B common stock, each share of which has 10 times the voting power of a Class A common share. More...

Nov-05-2009 -- Kohl's October sales comparison rises 1.4 percent
NEW YORK — The nation's retailers are reporting mixed sales results for October.
The wholesale warehouse club reported sales at stores open a year or more in October grew 5% compared with the same period last year, their biggest monthly advance since September 2008. More...

Nov-05-2009 -- IMS Health Reaches LBO Deal
IMS Health, which provides market research to the pharmaceutical and health-care industries, has agreed to be acquired for $5.2 billion by private equity firm TPG Capital and the CPP Investment Board.
TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992 with approximately $45 billion of assets under management and offices in San Francisco, London, Hong Kong, New York, Fort Worth, Washington, D.C., Melbourne, Moscow, Mumbai, Paris, Luxembourg, Beijing, Shanghai, Singapore and Tokyo. More...

Nov-05-2009 -- If 'They Stop, We'll Stop,' Murdoch Says of MSNBC/Fox Feud
NEW YORK (Reuters) - News Corp reported a higher-than-expected quarterly profit as gains at its Fox cable network and film divisions, plus cost cuts, helped offset declines at its television stations and newspapers.
News Corp.' s net income climbed 11% in the latest quarter, as gains in its cable-television networks and film business offset declines at its newspaper and broadcast-TV divisions. More...

Nov-05-2009 -- Telef''nica to Buy Hansenet in $1.34 Billion Deal
CEO Franco Bernabe, who has put in place a gradual cost cut and debt-cutting plan to turn around the company, said the HanseNet sale allowed the group to accelerate debt reduction.
MADRID--Telefnica SA said Thursday it agreed to buy Telecom Italia SpA's German broadband unit Hansenet in a move to improve its foothold in the competitive German telecommunications market. More...

Nov-05-2009 -- Thomson Reuters Profit Falls 59% Amid Charges
Thomson Reuters believes that pro forma financial information provides more meaningful period-to-period comparisons of its performance because Reuters results prior to the April 17, 2008 closing are not included in IFRS results. 2009 results include the impact of the acquisition for the entire period.
Thomson Reuters Corp.' s third-quarter earnings fell 59% on write-downs and charges as it saw revenue slide. More...

Nov-05-2009 -- MGM Swings To 3Q Loss On $1.17B Write-Down
Its current project, the $8.5 billion CityCenter complex on the Las Vegas Strip, is touted as the most expensive privately financed project in U.S. Most of that project is scheduled to open next month.
Excluding one time charges, the third quarter showed signs of recovery. More...

Nov-05-2009 -- Sara Lee Profit Rises Despite Drop in Sales
Successful new products launched in the first quarter included Ortiz branded bread in Spain, various new Sara Lee branded ice creams in Australia and several private label refrigerated dough products in France.
Net sales decreased 6.1% in the first quarter to $521 million, entirely due to unfavorable foreign currency exchange rates. More...

Nov-05-2009 -- directv 3Q Profit Up 0.8%; US Subscriber Growth Falls
EL SEGUNDO, Calif. — DirecTV Group's third-quarter net income was about flat from a year ago, as higher costs offset a 10 percent increase in revenue.
NEW YORK, Nov 5 (Reuters) - U.S. satellite television operator DirecTV Group Inc ( DTV.O ) reported a smaller-than-expected quarterly profit as subscriber gains were offset by higher customer cancellations. More...

Nov-05-2009 -- Higher margins, lower costs boost Wendy's/Arby's
Revenues for the quarter were $903.22 million, compared to $310.37 million in the prior year quarter.
We are ahead of plan on our key profit drivers to generate an annualized incremental $160 million of EBITDA by the end of 2011 from Wendy's' restaurant margin improvement and general and administrative expense ("G&A") efficiencies. More...

Nov-05-2009 -- Gold makes fresh stab at $1100 an ounce
U.S. gold futures for December delivery stood at $1,052.5 an ounce, up about 1 percent from Friday when the contract fell $6.70 to $1,040.40 on the COMEX division of the New York Mercantile Exchange.
The International Monetary Fund said on Monday it sold 200 tonnes of gold to the Reserve Bank of India for $US6.8 billion, quietly executing half of a long-planned bullion sale that had threatened to slow gold's rally. More...

Nov-05-2009 -- Stage Stores sales increase in October
Comparable store net sales for the 13-week third quarter ended October 31, 2009 increased 4.3 percent from comparable store net sales for the prior year 13-week third quarter ended November 1, 2008.
The Sales Department will execute our consumer strategies through our national account, field sales and contact centre channels through a focus on distribution, merchandising and retailer advocacy. More...

Thursday

Nov-05-2009 -- SEC Likely to Charge More People in Galleon Case
NEW YORK (Reuters) - More defendants may be added to the insider-trading case involving the hedge fund firm Galleon Group, a lawyer for the U.S. Securities and Exchange Commission said on Wednesday.
Rajaratnam, 52, a Sri Lankan-born billionaire, and the five other defendants are free on bail. More...

Nov-05-2009 -- UPDATE 2-Toyota seen forecasting smaller FY loss on cost cuts
TOKYO, Nov 5 (Reuters) - Japan's Nikkei average lost 0.5 percent on Thursday with Canon Inc ( 7751.T ) and other exporters slipping as investors took profits, though gains in banking shares helped keep the market supported.
Analysts polled by Reuters expect Friday's employment report to show that U.S. payrolls shrank by 175,000 and the unemployment rate hit a new 26-year-high of 9.9 percent in October. More...

Nov-05-2009 -- Oil Snaps Three Days of Gains on Signs Demand Is Yet to Recover
Crude oil futures scaled back gains after rising above $81 a barrel midmorning when U.S. Energy Information Administration data showed an unexpected big drop in crude stocks last week, which confirmed industry data released late on Tuesday.
Buoyed by outside influences, oil prices were also driven by the release of bullish industry data. More...

Nov-05-2009 -- Asian Shares Mostly Lower; Sanyo Electric Tumbles
TOKYO, Nov 4 (Reuters) - Japan's Panasonic Corp ( 6752.T ) said it would launch a tender offer for shares in Sanyo Electric Co ( 6764.T ) on Thursday, moving closer to becoming a powerhouse in hybrid car batteries and other green-energy businesses through the bid worth at least 402.3 billion yen ($4.5 billion).
The deal would boost its group sales close to the level of Hitachi Ltd., Japan's largest electronics company. More...

Nov-05-2009 -- Revenue and Profit Declines at Time Warner
The world's largest entertainment house Time Warner Inc.' s earnings fell by 38% in third quarter.
Principally due to lower search and advertising revenue, News Corp.' s Digital Media Group saw its earnings decrease by $22 million year-over-year, the company said during its fiscal first quarter earnings call Wednesday. More...

Nov-05-2009 -- Municipal bond case settled by JP Morgan
The Securities and Exchange Commission says investment bank JP Morgan Chase & Co. will pay a $50 million penalty to Jefferson County and forfeit $647 million in swap termination fees in a settlement related to county bond deals .
The bank said it was pleased to have reached a settlement with the SEC, noting that the charges principally relate to municipal derivatives transactions that occurred six or seven years ago in a business now discontinued. More...

Nov-05-2009 -- Shanghai to own 57 pct of new Disney park -paper
The breakthrough comes just two weeks ahead of a scheduled trip to China by U.S. President Barack Obama, a visit analysts had expected to help spur a decision on the park.
China Daily reported that several state-owned firms in Shanghai would form a joint venture with Walt Disney to invest in the project, with the SOEs collectively taking a 60 per cent stake in the venture. More...

Nov-05-2009 -- Hyatt Moves Up Its IPO
Hyatt, which was originally set to launch a $988 million deal for trading on Friday, is instead aiming for Thursday, with one analyst conjecturing that the hotel chain was trying to get the deal done ahead of the government's release of unemployment data Friday.
The offering is structured so the Pritzker family would own 80 percent of Hyatt's Class B common stock, each share of which has 10 times the voting power of a Class A common share. More...

Nov-05-2009 -- China Eastern gets stock-sale OK, shares jump
HONG KONG, Nov 5 (Reuters) - Shares of Chinese property firm Evergrande Real Estate Group Limited ( 3333.HK ) were indicated 14.3 percent higher ahead of their $729 million Hong Kong trading debut on Thursday.
Reuters calculations based on the closing price of Tingyi's Hong Kong-listed stock valued the share issue at HK$3.4 billion ($438 million). More...

Nov-05-2009 -- UPDATE 4-Qualcomm outlook off, cites increasing competition
Included a $230 million charge, or $0.14 diluted loss per share, related to an estimated fine expected to be levied by the Korea Fair Trade Commission recorded in the fourth quarter of fiscal 2009. (b) Included $734 million in other-than-temporary losses on investments, which were not part of the Company's strategic investment portfolio and $13 million in interest expense, partially offset by $513 million in interest and dividend income related to cash, cash equivalents and marketable securities, $107 million in net realized gains on investments and $1 million in gains on derivatives. (c) Included $29 million in other-than-temporary losses on investments, $17 million in equity in losses of investees and $11 million in interest expense, partially offset by $30 million in net realized gains on investments and $3 million in interest and dividend income. (d) The effective tax rates for the twelve months ended September 27, 2009 were approximately 23% for GAAP and approximately 28% for pro forma. (e) Included a tax expense related to the adjustment of net deferred tax assets that were recorded in prior years to reflect the changes in California law.
For the September 2010 fiscal year, QCOM sees revenue of $10.5 billion to $11.3 billion, and profits ex-items of $2.10 to $2.30 a share; the Street has been expecting $11.6 billion and $2.32 a share. More...

Nov-05-2009 -- Whole Foods Falls as Full-Year Profit Forecast Trails Estimates
Results in the fourth quarter last year included: a LIFO charge of $4.7 million, or $0.02 per diluted share; non-cash asset impairment charges related to two Wild Oats locations of $1.5 million, or $0.01 per diluted share; FTC-related legal expenses of $2.5 million, or $0.01 per diluted share; charges related to lease terminations of Whole Foods Market stores in development and store closure reserve adjustments related to idle Wild Oats properties of $20.2 million, or $0.07 per diluted share; and tax charges resulting from the repatriation of $60 million in cash from the Company's Canadian subsidiary of $6.1 million, or $0.04 per diluted share.
The Company expects to open 16 new stores, 10 of which are expected to open in the first half of the year. More...

Nov-05-2009 -- Ancestry.com Hopes to Stand Test of Time
NEW YORK — Genealogy Web site Ancestry.com ]] Ancestry.com has succeeded in raising $100 million in its initial public offering.
In the nine months that ended Sept. 30, the company earned $12.2 million, or 30 cents per share, a more than threefold increase from the $3.5 million, or 9 cents per share, it earned in the same period a year earlier. More...

Wednesday (Update 1)

Nov-04-2009 -- us job growth seen in early 2010-Macro Advisers
The U.S. labor market is still on the receiving end of the worst recession since the Great Depression, as employers continue to layoff workers in a bid to save some costs and survive the ongoing economic weakness, as today the ADP employment report signaled that the bleeding in the labor market continues.
According to the ADP employment report, payrolls declined 203,000 in October compared to a decline of 227,000 in September. More...

Nov-04-2009 -- PRECIOUS METALS: Comex Dec. Gold Extends Record High
LONDON — The price of gold leapt to a record peak of 1,095.40 dollars an ounce in trading here on Wednesday in the wake of the International Monetary Fund's massive sale of the precious metal to India.
The fact is that the RBI looked at $1,000-an-ounce gold and was still willing to buy an awful lot of gold at that elevated price. More...

Nov-04-2009 -- Shanghai Disney Project Includes Hotels, Shopping
"The Project Application Report (PAR) for a Disney theme park in the Pudong district of Shanghai has received approval from the relevant authorities of the central government of China," the company said in a statement on Tuesday.
Gold counters rise on higher gold prices (Updates to close) By Jun Ebias and Claire Zhang HONG KONG/SHANGHAI, Nov 4 (Reuters) - Hong Kong stocks closed up 1.76 percent in an anaemic session on Wednesday, as investors snapped yo banks and gold counters, while Shanghai closed close to a three-month high, led by metals shares. More...

Nov-04-2009 -- GMAC Reports Third-Quarter Loss Tied to Loan Defaults
NEW YORK — GMAC Financial Services, the main lender for General Motors Co. and Chrysler Group LLC, said Wednesday it lost $767 million in the third quarter, as its struggling home mortgage unit continued to weigh on its results.
The unit has been hit hard by the downturn in the housing market and lost $747 million during the quarter. More...

Nov-04-2009 -- Pulte Homes 3Q Loss Widens Amid Centex Charges
With the acquisition of Centex in August, Pulte received an increased market share in the first-time homebuyer market.
Pulte, which completed its acquisition of rival Centex Corp in August, did not adjust its prior year results to reflect the merger. More...

Nov-04-2009 -- Chrysler Chief Says Its Finances Are Improving
DETROIT — Coming to your local Chrysler, Dodge or Jeep dealer: Tractor-trailers full of cars and trucks with lower sticker prices.
With numerous Dodge and Jeep models potentially on Fiat's chopping block what will replace them? 23 News reporter Adam Behrman spoke with local dealer Jack Wolf to learn what consumers want. More...

Nov-04-2009 -- US to Sell $81 Billion in Long-Term Debt Next Week
The rate for the 25-year Treasury bonds was last quoted at 9.75 percent in the secondary market rate.
The highest bid was 9.250 percent while the lowest was 8.750 percent. More...

Nov-04-2009 -- Cost cuts, tax gains boost Molson Coors
The trends seem to improve with easing economic pressures.
Earlier on Wednesday, MillerCoors reported a 28.1 percent increase in net income, as cost savings and price increases offset a dip in sales volume. More...

Nov-04-2009 -- Terra Industries Rejects CF's Revamped Takeover Offer
Hostile bidder CF Industries Holdings Inc. (NYSE:CF) sent a letter directly to Terra Industries Inc. (NYSE:TRA) telling it to vote in favor of the three proposed independent nominees to Terra's board on Nov. 20.
CF is confident that stockholders will show support for the bid by voting for three of CF's nominees for Terra's board. More...

Nov-04-2009 -- WellCare's Sanctions Lifted; Shares Rise Amid Strong 3Q
Thomson Reuters says analysts were expecting a profit of 67 cents per share and $1.66 billion in revenue.
In morning trading, WellCare shares jumped $2.61, or 9.9 percent, to $28.93, and set an annual high of $31.50. More...

Nov-04-2009 -- WRAPUP 1-Devon, XTO profits down but output up
XTO, a leading independent natural gas and oil exploration and production firm, posted earnings of $500 million, or 86 cents per share of stock, on revenues of $2.29 billion, only a 4 percent decrease from third-quarter 2008 earnings of $521 million, or 95 cents per share, despite a sharp decline in gas prices in the past year.
Devon Energy Corp. ( DVN ) Q3 earnings fell by 81%, but the natural-gas and oil producer still managed to beat Wall Street expectations on higher production and lower costs. More...

Nov-04-2009 -- Ambac reports $2.2 bln quarterly profit, shares jump
NEW YORK, Nov 4 (Reuters) - Bond insurer Ambac Financial Group posted a quarterly profit of more than $2 billion after accounting gains related to its weakening credit quality, reversing a year-earlier loss and sending its shares up as much as 46 percent.
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. More...

Wednesday

Nov-04-2009 -- TSMC Wins Trade-Secrets Verdict Over SMIC
OAKLAND, Calif.A jury ruled Tuesday in favor of Taiwan Semiconductor Manufacturing Co. in a long-running legal battle against rival Chinese chip maker Semiconductor Manufacturing International Corp., which TSMC had accused of stealing trade secrets and violating a prior settlement between the companies.
TSMC is asking the Alameda County Superior Court panel to award it more than $1 billion in lost profits and damages, and the judge to permanently bar SMIC from selling the contested products in the United States, according to TSMC's lawyer Jeffrey Chanin of Keker & Van Nest. More...

Nov-04-2009 -- Viacom posts 15% jump in profit in third quarter
PHYSICAL: Paramount Pictures' third-quarter home entertainment sales dropped 21% from a year earlier because of difficult comparisons to popular 2008 releases.
On the launch of premium movie JV service Epix: it is close to additional distribution deals, and should be announced very soon, Viacom CEO Philippe Dauman said. More...

Nov-04-2009 -- TREASURIES-Sit tight in Asia ahead of Fed, supply
NEW YORK (Reuters) - The U.S. economy may have turned a corner after the deepest recession in some 70 years, but Federal Reserve policymakers appear to be in no rush to raise interest rates.
Trick or treat has passed for kids, but it begins today for grown-ups. More...

Nov-04-2009 -- U.S. lawmakers focus on size of big financial firms
The legislation would not place any limit on how much taxpayer money the government could use to seize a major financial firm and would give Congress no say in any decision to use the money.
Some Democrats want to force financial firms to pay into a fund for future bailouts so taxpayers aren't on the hook. More...

Nov-04-2009 -- Back from Morocco, Rothstein faces feds
Scott Rothstein is back in town.
The Miami Herald reported on Tuesday that federal authorities were carrying out a criminal investigation into Rothstein's activities. More...

Nov-04-2009 -- Intel, chipmakers slip on Morgan Stanley downgrade
Computerworld - Investment house Morgan Stanley unleashed a torrent of downgrades on the semiconductor industry today, taking some steam out of the idea that chip companies like Intel are leading an economic comeback.
The semiconductor sector was downgraded to cautious from attractive by Morgan Stanley, which said inventories are creeping up and a lot of good news is already baked into chip stocks. More...

Nov-04-2009 -- Buffett joins Goldman bid for Fannie Mae tax credits
Fannie Mae and Freddie Mac were seized by the government last year and the Treasury Department has invested close to $100 billion in the housing-finance giants.
Closed for 15 months ''' opening 10 days only! Get notified ahead of time as our expert portfolio manager invests $1 MILLION in the best opportunities from across The Motley Fool'''s premium investment services. More...

Nov-04-2009 -- ebay's paypal Launches Open Payments System
"The PayPal X platform and PlaySpan will enable developers to increase conversion and revenue from their online games, virtual worlds, and social networks.
I think the desire to get involved with gaming and social media commerce is interesting, but I think they are coming way too late to this party. More...

Nov-04-2009 -- California: Mayor Owes Back Taxes
OAKLAND, Calif. — Oakland Mayor Ron Dellums and his wife owe more than $200,000 in back taxes to the Internal Revenue Service, property records indicate.
Jesse Weller, an IRS spokesman, declined to comment Tuesday because of tax-privacy laws. More...

Nov-04-2009 -- Jeep Will Star Abroad in Chrysler Revamp
The survival plans will be revealed by Sergio Marchionne, chief executive of Fiat and now Chrysler too.
According to details of the plan that have emerged in recent days, Chrysler believes the market will recover sufficiently for it to be able to break even next year and be profitable by the end of 2011. More...

Nov-04-2009 -- Discovery 3Q earnings fall 29 pct on higher costs
Shares up 2.7 pct prior to earnings release (Adds comments from executive; stock price) By Paul Thomasch NEW YORK, Nov 3 (Reuters) - Discovery Communications Inc ( DISCA.O ) posted a larger-than-expected decline in profit, but stronger U.S. advertising sales stole the show and raised hopes that parts of the media business are finally recovering.
Results fell short of analysts' average earnings forecast of 22 cents per share, according to Thomson Reuters. More...

Nov-04-2009 -- Oil Rises as Gold Climbs to Record on Bank's Bullion Purchase
Crude oil futures for December delivery fell 8 U.S. cents to $US76.92 a barrel on the New York Mercantile Exchange.
Oil prices fell to near $77 a barrel Tuesday, affected by sagging equity markets and the dollar's gains on the euro. More...

Tuesday (Update 1)

Nov-03-2009 -- Nokia Siemens Networks to cut nearly 6000 jobs
The plan includes reorganizing the company's business units to better align with customer needs; extensive operating expense and production overhead reduction, including a global personnel review; ongoing purchasing savings; expanded partnering to ensure a full portfolio of world-class products and services; and potential acquisitions where assets would add scale to existing product areas or customer relationships.
HELSINKI: Telecom equipment maker Nokia Siemens Networks unveiled a new cost-cutting programme on Tuesday, seeking to save over one billion euros ($1.48 bn) to stay competitive in the cut-throat market. More...

Nov-03-2009 -- Black & Decker soars on Stanley Works deal
In a joint statement, Stanley Works and Black & Decker jointly said they have entered into a definitive merger pact to create Stanley Black & Decker, an $8.4 billion global industrial leader, in an all-stock transaction valued at about $4.5 billion.
Harvard's Joint Center for Housing Studies estimates that average spending on the do-it-yourself home improvement ' which is at the core of Black Decker's business will increase to $3,100 in 2015 from $2,500 in 2005. (Harvard adjusts the number for inflation). More...

Nov-03-2009 -- Madoff's Accountant Pleads Guilty in Scheme
NEW YORK Bernie Madoff's longtime accountant, David Friehling, a Liberty High School graduate, will plead guilty in federal court to securities fraud, investment adviser fraud, making false filings with the Securities and Exchange Commission and impeding the administration of internal-revenue laws.
FILE - In this July 17, 2009 file photo, Bernard Madoff's accountant David Friehling exits Manhattan federal court in New York. More...

Nov-03-2009 -- Financial News: UBS Re-Emerges From 9 Quarters Of FICC Losses
ZURICH -- Swiss banking giant UBS AB reported disappointing third-quarter figures, as its key private banking division failed to show signs of a turnaround and management signaled that it won't soon stem an outflow of its wealthy clients' assets.
ZURICH, SwitzerlandA lack of catastrophe claims helped Swiss Reinsurance Co. record a nine-month profit of 103 million Swiss francs ($100.4 million) despite other limiting factors, the reinsurer said Tuesday. More...

Nov-03-2009 -- TREASURIES-Prices turn lower, pre-Fed positioning cited
At the sessions, Fed regulators told leaders of 28 of the largest financial firms that the central bank was serious about enforcing the executive pay guidelines it proposed late last month.
The call for a speedy implementation of the proposals underlines the Fed's desire to change Wall Street's pay practices and stave off a public backlash ahead of what promises to be a bumper bonus season at many banks. More...

Nov-03-2009 -- Emerson Electric profit down 26% amid soft demand
Emerson's fourth-quarter earnings fell 24 percent to 67 cents a share, compared with 88 cents a share in the same period last year.
For the full fiscal year, Emerson earned $1.72 billion, or $2.27 per share, on revenue of $20.92 billion compared with $2.41 billion, or $3.06 per share, on revenue of $24.81 billion. More...

Nov-03-2009 -- House Panel To Begin Work On Systemic Market Risk Bill
Why? The bill, much of it coming from the proposals of Tim Geithner, has drawn considerable criticism for a plan to have the federal government collect money from banks to pay for bailouts.
If System Collapsed, Taxpayer Would Still Pay The Singapore Business Times' Leon Hadar raises some other objections. More...

Nov-03-2009 -- Polo Ralph Lauren 2Q Net Rises 10.2% On Tax Rate; Sales Down
'''We are raising our sales expectations for the remainder of the year, but we continue to be cautious with our outlook and are planning accordingly.'''
Technically, RL is in the midst of a struggle with the $80 level. More...

Nov-03-2009 -- Dollar Gains Squeeze Oil Prices
"Equity markets are down in Asia and Europe and there is a feeling that recent price increases may have been overdone, that despite the economic recovery, the current oil supply and demand situation probably does not justify the recent rise in prices."
HSBC's China Purchasing Managers' Index rose to an 18-month high in October of 55.4 from 55.0 in September. More...

Nov-03-2009 -- Och-Ziff Profit Beats Estimates on Market Rebound
For the first nine months of 2009, Och-Ziff reported a GAAP Net Loss of $250.2 million, or $3.23 per basic and $3.25 per diluted Class A Share, compared to a GAAP Net Loss of $398.4 million, or $5.37 per basic and diluted Class A Share, for the first nine months of 2008.
Distributable Earnings is a non-GAAP measure of after-tax operating performance and equals Economic Income for the Total Company (as defined above) less Adjusted Income Taxes. More...

Nov-03-2009 -- EU sees 2010, 2011 recovery, sets fiscal clock ticking
"The EU economy is coming out of recession.
Brussels, Nov 3 /Agerpres/ - The European Commission has upwardly adjusted its estimates of Romania's economic growth in 2010, to a 0.5 percent growth in 2010 and 2.6 percent in 2011, according to the European Commissions' autumn forecasts. More...

Nov-03-2009 -- Teva Pharma 3Q Profits Rise; Continues Deal Hunt
Author: Trupti Mehta 123jump.com Last Update: 11:09 AM ET November 03 2009 Teva Pharmaceutical Industries Limited third quarter sales rose 25% to $3.55 billion and net income rose 3% to $649 million or 72 cents a share.
Despite the strong revenue growth, Teva numbers still fell short of Wall Street expectations, hurt by volatility in the foreign-exchange market. More...

Tuesday

Nov-03-2009 -- Gold Gains to Near Record After IMF Sale, as Dollar Declines
WASHINGTON (Reuters) - The International Monetary Fund said on Monday it sold 200 tonnes of gold to the Reserve Bank of India for $6.8 billion, quietly executing half of a long-planned bullion sale that had threatened to slow gold's rally.
The IMF said the transaction, which was in the process of being settled, involved daily sales that were phased over a two-week period during October 19-30. More...

Nov-03-2009 -- Ruiz leaving AMD spinoff after insider-trading report
Company officials on Monday announced that Ruiz, 63, will resign from his role as chairman of GlobalFoundries effective Jan. 4, and that he is taking an immediate "voluntary leave of absence" in the interim.
Last week HEXUS.channel reported on revelations, first published by the Wall Street Journal, that Hector Ruiz was apparently the 'un-named AMD executive' referred to in legal documents; who, it was alleged, had shared privileged information with an insider-trading defendant. More...

Nov-03-2009 -- Humana Profit Rises 65% Despite Commercial Falloff
LOUISVILLE, Ky. — Health insurer Humana Inc. rode its strong government business in posting a 65 percent jump in third-quarter profit Monday, as bulging membership and premiums from Medicare Advantage overcame a lackluster commercial segment hampered by the weak economy.
Humana (NYSE: HUM ) earnings surged 65 percent in the third quarter, to $301.5 million, or $1.78 per share, as compared to $183 million, or $1.09 per share, in the same quarter last year. More...

Nov-03-2009 -- Toyota Begins Alerting US Owners of Floor-Mat Flaw
An investigation by the National Highway Traffic Safety Administration (NHTSA) is raising more questions as to whether the floor mats are the only culprit to unintended acceleration in Toyota and Lexus models.
'NHTSA recently closed another study finding that the only cause of unintended acceleration was an out-of-position or inappropriate floor mat,' said Bob Carter, Toyota division group vice president. More...

Nov-03-2009 -- Anadarko reports 90% drop in quarterly profit
Third-quarter 2009 sales volumes of natural gas, crude oil and natural gas liquids totaled 57 million BOE, or 616,000 BOE per day, comprised of natural gas sales volumes that averaged 2.144 billion cubic feet per day, oil sales volumes that averaged 205,000 barrels per day and natural gas liquids sales volumes that averaged 54,000 barrels per day.
In this Aug. 25, 2009 file photo, crew members with Anadarko Petroleum Corp. work on a drilling platform on a farm near Mead, Colo. A private measure of U.S. manufacturing activity grew in October at the fastest pace in more than three years, helped by government spending and higher demand from overseas. More...

Nov-03-2009 -- Australian Dollar Pares Gains as Central Bank Flags Gradual Rate Increases
Boris Schlossberg at Global Forex Trading said the ISM report was especially encouraging because it showed manufacturing employment growing for the first time in many months.
U.S. construction spending increased by 0.8 % versus the expectation of a 0.2% drop, while U.S. ISM manufacturing came in at 55.7 in October, well above economists' forecast of 53.0 and previous month's reading of 52.6. More...

Nov-03-2009 -- Stimulus saves or creates nearly 4000 Texas education jobs
"The best value so far has been the increased funding for Medicaid and the highway spending."
Retention of employees in education makes up for a large portion of jobs through stimulus spending. More...

Nov-03-2009 -- Stock Picks: Nordstrom, Airgas
Nov 2 (Reuters) - Deutsche Bank upgraded Nordstrom Inc ( JWN.N ) to "buy" from "hold," saying it sees sales increases, lean inventory and cost reductions driving earnings-per-share growth at the upscale department store chain.
Lisnic said Barnes Group's industrial markets appear to be nearing a bottom, possibly benefiting from improved demand. More...

Nov-03-2009 -- US to Allow GM to Use Federal Loans to Invest in Delphi
The Detroit automaker said Monday in a regulatory filing with the U.S. Securities and Exchange Commission that the Treasury Department granted the release of $1.7 billion to acquire "a membership interest" in the new Delphi entity that emerged from bankruptcy protection.
More...

Nov-03-2009 -- Florida Law Firm Asks to Be Dissolved
The Broward County political establishment took another major hit Monday when news broke that Scott Rothstein founder of the Fort Lauderdale based law firm Rothstein Rosenfeldt Adler may have fled the country after questions were raised by his partners about millions of dollars in missing money from the firm's trust accounts.
Fort Lauderdale, Fla., attorney Scott Rothstein's meteoric rise in the South Florida legal and political worlds ended over Halloween weekend with the revelation that investors claim he stole in excess of $200 million. More...

Nov-03-2009 -- FAA rejects ban on night flights at Burbank's Bob Hope Airport
The proposed restrictions ran into political opposition from FedEx, United Parcel Service and other cargo companies and trade groups who said the airport exaggerated the noise problem and that a curfew would harm the national air transportation system by encouraging other airports to adopt similar restrictions.
Adam Schiff (D-Burbank) and Howard Berman (D-Valley Village), among those pushing for a curfew, argued that it would provide "meaningful nighttime noise relief" to the communities surrounding the airport. More...

Nov-03-2009 -- Dean Foods Cautions on Outlook
Your next question comes from Bryan Spillane of Bank of America.
On an adjusted basis, net income attributable to Dean Foods Co. rose to $62.2 million or $0.34 per share from $43.5 million or $0.28 per share in the comparable quarter of the previous year. More...

Monday (Update 1)

Nov-02-2009 -- Clorox profit up 23%, lifts forecast
Note: As a result of the adoption of a new accounting standard regarding calculation of earnings per share, diluted EPS for the first quarter of fiscal year 2009 was reduced by 1 cent, from 91 cents to 90 cents.
Clorox (NYSE: CLX ) reported a first quarter EPS of $1.11, 6 cents ahead of the market estimate of 95 cents per share. More...

Nov-02-2009 -- Sysco 1Q Net Jumps 18% On Gains; Sales Down 8.1%
For the nine-month period of 2009, Con Edison reported net income for common stock of $666 million or $2.43 per share, compared to $1.04 billion or $3.80 per share in the previous year period.
Sysco said an IRS tax settlement benefited profit by 5 cents per share, while a change in the value of corporate-owned life insurance added 4 cents per share. More...

Nov-02-2009 -- Citigroup Analyst Upgrades Rating On Motorola, Cuts RIM, Palm
Analysts at Citigroup on Monday cut their ratings on mobile phone makers Research in Motion (RIMM) and Palm (PALM), sending both companies shares lower in premarket trading.
For Motorola, the move comes after a week of strong news for the wireless device maker. More...

Nov-02-2009 -- Terra Industries Rises After CF Boosts Takeover Bid
SIOUX CITY -- Terra Industries shares jumped 7 percent in early trading Monday upon news that CF Industries Holdings raised its hostile offer for its fertilizer rival.
In a statement, Terra's board of directors, which has repeatedly rejected CF's overtures, said it would review the latest offer. More...

Nov-02-2009 -- Constellation, EDF agree on nuclear venture terms
The conditions set by the Maryland Public Service Commission for the transaction include a required credit of about $100 for every residential customer in Baltimore Gas & Electric's service area.
Gov. Martin O'Malley, a Democrat, has been at odds with Constellation over rate increases and executive compensation. More...

Nov-02-2009 -- UPDATE 1-CNA posts third-quarter profit vs loss
In July, Loews reported a sharp fall in profit for the second quarter, reflecting higher investment losses as well as the absence of prior year's hefty gain related to the separation of Lorillard Inc. Income from continuing operations for the 2009 second quarter was $341 million, or $0.78 per share, compared to $511 million, or $1.00 per share, in the 2008 second quarter.
NEW YORK--(BUSINESS WIRE)-- Loews Corporation (NYSE:L) today reported income from operations before investment losses for the 2009 third quarter of $530 million compared to $235 million in the 2008 third quarter. More...

Nov-02-2009 -- U.S. construction spending up in Sept
Total construction spending grew to $940.28 billion at an annual rate in September.
The overall increase reflected a 3.9 percent rise in spending on residential construction, the biggest jump in housing activity since July 2003. More...

Nov-02-2009 -- Dean Foods Net Rises 32% on Milk Costs, Acquisition
Dean Foods' business also includes Alpro, the pan-European leader in branded soy food products.
"We are reporting another strong quarterly performance with continued solid operating income and earnings per share growth," said Gregg Engles, Chairman and Chief Executive Officer. More...

Nov-02-2009 -- Denbury shares fall after $3.2 billion Encore deal
Denbury Resources Inc. and Encore Acquisition Company have entered into a definitive merger agreement pursuant to which Denbury will acquire Encore in a transaction valued at approximately $4.5 billion, including the assumption of debt and the value of the minority interest in Encore Energy Partners LP. The combined company will continue to be known as Denbury Resources Inc. (the '''Company''') and will be headquartered in Plano, Texas.
NEW YORK (Dow Jones)--Last week's trading in Encore Acquisition Co. (EAC) options was bullish ahead of news that Denbury Resources Inc. (DNR) plans to acquire the energy company. More...

Nov-02-2009 -- Con Edison earnings rise 25%, reiterates view
A sharp drop in the price of fuel boosted Consolidated Edison Inc.' s third quarter, helping the company posted an 85 percent profit leap.
NEW YORK, NY--(Marketwire - November 2, 2009) - Send Word Now, a worldwide provider of emergency notification and on-demand alerting and response services, announced today that Con Edison ( NYSE : ED ) has selected Send Word Now to provide emergency voice and text communication services to its entire enterprise. More...

Nov-02-2009 -- REFILE-UPDATE 1-Q-Cells ends LDK supply agreement
The original agreement specified the supply of solar wafers on the basis of a contractually fixed amount of silicon totalling 43,000 tonnes for the years from 2009 to 2018, with wafer supplies on the basis of approximately 1,000 tonnes of silicon relating to 2009.
"The message for Q-Cells is mixed," said SES Research analyst analyst Karsten von Blumenthal. More...

Nov-02-2009 -- Chip Sales Rose 8.2% in September
Nov 2 (Reuters) - Global semiconductor sales rose 19.7 percent sequentially during the third quarter and beat estimates, the Semiconductor Industry Association (SIA) said and forecast an upbeat full-year sales.
More...

Monday

Nov-02-2009 -- One death in New Hampshire attributed to contaminated meat
Fairbanks Farms in Ashville, NY, which packages beef for stores like Shaw's, BJ's, Trader Joe's and Price Chopper, recalled over 500,000 pounds of beef due to E. coli concerns.
Recalled products include all brands of ground beef including Wild Harvest, Lancaster Brand and store-made ground beef products including meatballs, meatloaf, Salisbury steak and stuffed peppers. More...

Nov-02-2009 -- Lloyds aims to raise 7.5 bln pounds capital via 'Coco' bonds-FT
Three new high street banks are expected to be created after Chancellor Alistair Darling announced that the Royal Bank of Scotland and Lloyds Banking Group are to be split up and Northern Rock sold off.
EU competition commissioner Neelie Kroes is believed to have eyed the sale of Citizens as one option for RBS as part of the price the bank will have to pay for accepting aid from the UK government during last year's banking crisis. More...

Nov-02-2009 -- Fed's Path to Higher Interest Rates Begins to Take Shape
NEW YORK (Reuters) - The U.S. economy may have turned a corner after the deepest recession in some 70 years, but Federal Reserve policymakers appear to be in no rush to raise interest rates.
I am surprised to read that you omitted to mention Paul Volker's new directive to create a value added tax ( VAT ) to be shortly implemented as a new source of revenue that will considerably help the fiscal tool, that the government is currently searching for. More...

Nov-02-2009 -- In eastern Washington, big plans for solar power
With the utility incentives, plus current federal tax credits of up to 30 percent for installing solar devices, harnessing the sun for power never has been more affordable.
Germany made a strategic move in investing a lot of capital in solar energy generation - to attain industry leadership. More...

Nov-02-2009 -- Takefuji Leads Consumer Lenders Higher in Tokyo on Report of Softer Rules
Consumer lender Aiful Corp soared and other consumer lenders surged as well after the Nikkei business daily said on Sunday that Japan will consider reversing its tightening of regulations on moneylenders to help self-employed business owners following the financial crisis.
Sanyo Electric Co gained 2.6 percent to 234 yen after the Nikkei business daily said the company has agreed with PSA Peugeot Citroen to supply nickel-metal hydride batteries for the French carmaker's diesel-electric hybrid cars. More...

Nov-02-2009 -- Guess What: Goldman Was Selling Risky CDOs While Shorting Housing
From 2001 to 2007, Goldman hawked at least $135 billion in bonds keyed to risky home loans, according to analyses by McClatchy and the industry newsletter Inside Mortgage Finance.
New Century tossed out a requirement that every homebuyer make a down payment and began lending up to 80 percent of a property's value for a first mortgage and up to 20 percent for a second. More...

Nov-02-2009 -- China imposes duties on imported chemicals
BEIJING, Nov. 1 (Xinhua) -- China will impose five-year anti-dumping tariffs, ranging from 5 percent to 35.4 percent, on imports of adipic acid from the United States, the European Union and the Republic of Korea, the Ministry of Commerce (MOC) said on Sunday.
In a sign of progress, China pledged at high-level talks with U.S. officials in eastern Hangzhou last week to lift restrictions on U.S. pork imports and Washington said it would ease curbs on Chinese poultry imports. More...

Nov-02-2009 -- Constellation in deal talk with Australian Vintage
NEW YORK (Reuters) - U.S. wine and spirits maker Constellation Brands Inc ( STZ.N ) said on Sunday it is pursuing discussions with various companies to sell or merge a part of its Australian and U.K. wine operations.
AVL said on Monday the discussions were focusing on a possible merger of CBI's Australian and UK wine operations with AVL in exchange for a substantial, but non-controlling interest in the combined entity. More...

Nov-02-2009 -- Vertex hep C drug works well in twice daily dosing
All previous Phase II studies of the highly promising experimental drug tested the medicine at three times a day dosing given at eight-hour intervals.
No. 1The company's experimental drug is showing that it can cure even the toughest-to-treat patients with hepatitis C. No. 2it may work just as well in a twice-daily dose as it does when given three times a day. More...

Nov-02-2009 -- Aussie Dollar Channeling Yuan Shows More China Trade
The rand is one of the high-yielding currencies into which Japanese retail investors have been shifting funds.
High yielding currencies came under selling pressure throughout the New York trading session as the data indicated that consumers will make a limited contribution to the recovery without government stimulus. More...

Nov-02-2009 -- Ford hits high gear in quality
By comparison, less than half of GM's 48 models scored that well, and the Chrysler brand finished last out of 33 brands in the survey.
New Chrysler CEO Sergio Marchionne, who also heads up Fiat in Italy, has moved fast to put together a strong team to lead Chrysler from the financial abyss. More...

Nov-02-2009 -- Australian Regulator Proposes To Approve Virgin Blue, Delta JV
The Australian Competition and Consumer Commission said today that the proposed joint venture was likely to assist Virgin and Delta to compete more effectively against the incumbent airlines on the route, Qantas and United Airlines.
Our interactive charting tool lets you dig deep into the price and news history of any company quoted on the Australian Stock Exchange. More...

Sunday (Update 1)

Nov-01-2009 -- cit's Swoon Hits Taxpayers
NEW YORK ''' CIT Group, which could be headed for bankruptcy court soon, said today it has entered into an agreement with investor Carl Icahn for a $1 billion line of credit to use as it pursues its restructuring plans.
The other and more likely option would be approving a reorganization plan before the company files for bankruptcy. More...

Nov-01-2009 -- Death, Second Recall in E. coli Outbreak
ASHVILLE, N.Y. ''' A western New York meat company whose products are sold at Price Chopper and BJ'''s Wholesale Club, among other stores, has recalled almost 546,000 pounds of ground beef because of links to illnesses from E. coli bacteria.
The first lawsuit stemming from the current outbreak will be filed Monday in the Trial Court of Massachusetts Superior Court, on behalf of a Marshfield, MA family whose grandmother and children were infected with the pathogenic E. coli strain O157:H7 after eating ground beef purchased at the town's Star Market. More...

Nov-01-2009 -- Consumer Electronics Makers Show Strength
The Japanese electronics firm'''s net loss in the three months to 30 September compared with a profit of 20.8bn yen (''138m) in the same period last year.
Sales during the quarter, the period from July to September, were down 20 percent on the same period last year at 1.7 trillion (US$18 billion) and net losses were 26 billion, it said Friday. More...

Nov-01-2009 -- The Global Anti-Trust Battle Over Google's Library
The accusations by the Chinese media are just the latest bit of negative publicity Google has been receiving over the course of the last few months from Chinese authorities, after it was criticized for allowing pornographic links to appear in its search results and for not fully respecting copyright law when scanning books to display on what has become one of the most popular services offered by the search giant.
A settlement has now been reached under which Google has agreed to provide a book registry, to which copyright holders of books could register and receive an agreed settlement for each book that has been digitized. More...

Nov-01-2009 -- Samsung Elec considers raising dividend
Seoul: Samsung Electronics, the world'''s top maker of memory chips and LCD screens, reported its best quarterly net profit on resurgent sales and forecast a strong 2010 despite concerns of a strengthening won.
Samsung expects the global market for personal computers and handsets to resume double-digit percent growth next year and LCD TV sales to rise nearly 20 percent. More...

Nov-01-2009 -- Homebuyer Tax Credit May Be Approved Early Next Week, Reid Says
If things go bad, I'm outta here.
Few new homes are being built in response to the tax credits. More...

Nov-01-2009 -- Amgen sued over Anemia drug
NEW YORKNew York, 13 other states and the District of Columbia sued Amgen Inc. and other drug suppliers over an alleged kickback scheme designed to boost sales of the anemia drug Aranesp, New York Attorney General Andrew Cuomo said Friday.
"Drugs should be prescribed to patients on the basis of need, effectiveness, and safety, not on a corporate giant's promise of an all-expense paid vacation," Cuomo said in a statement. More...

Nov-01-2009 -- Keep Those Eyes on the Skies
The Federal Aviation Administration made the right call when it revoked the licenses of Northwest Airlines pilots Timothy Cheney of Gig Harbor, Wash., and Richard Cole of Salem, Ore., after their jet overshot its Minneapolis destination by 150 miles before the pilots realized their error.
Every box should record every minute of every flight. More...

Nov-01-2009 -- Did Galleon Always Have Too Much of an Edge?
The Galleon Group, the hedge fund at the center of a suspected insider trading ring, has liquidated about 90 percent of its nearly $3.7 billion portfolio of technology stocks and other securities, a person close to the firm told DealBook.
Galleon traded on that information, netting a profit of $9 million, the biggest illegal trades identified in the complaints, which said a total of $20 million had been made by trading on nonpublic information. More...

Nov-01-2009 -- S. Florida Gas Prices Reach High For 2009
From last November to January, the average price was $1.86.
The contract fell $2.09 to settle at $77.46 on Wednesday. More...

Nov-01-2009 -- Understanding IRA benefits
For the first time, individuals and married couples whose income from all sources ''' including salaries and investments ''' tops $100,000 will be able to convert to a Roth, whether from traditional IRAs or work-sponsored 401(k) or 403(b) accounts.
In subsequent years, distributions from the Roth IRA won't be included in gross income the way traditional IRA distributions would. More...

Nov-01-2009 -- Dollar Rises Most Since April on Reduced Risk Demand Before Fed
Against the Japanese currency, the dollar fell to 90.98 yen from 91.42 yen late on Thursday in New York.
The U.S. economy, the world'''s biggest, grew at a 3.5 percent pace in the third quarter after a 0.7 percent slump in the preceding three months, the Commerce Department said Oct. 29. More...

Sunday

Nov-01-2009 -- Amgen Is Accused of Illegal Kickbacks
NEW YORKNew York, 13 other states and the District of Columbia sued Amgen Inc. and other drug suppliers over an alleged kickback scheme designed to boost sales of the anemia drug Aranesp, New York Attorney General Andrew Cuomo said Friday.
Associated Press/AP Online October 30, 2009 WASHINGTON - States that allow gay marriage can't force the federal government to provide benefits to those couples, the Obama administration argued Friday in court papers in a lawsuit by Massachusetts. More...

Nov-01-2009 -- cit's Swoon Hits Taxpayers
CIT Group ( CIT ) intends to file for bankruptcy protection in New York within days, perhaps as early as Sunday, the WSJ reports, citing people familiar with the matter.
Our ability to secure an incremental $1 billion committed line of credit from Mr. Icahn's affiliates supports our restructuring plan and helps ensure our ability to continue to serve our existing small business and middle market customers." More...

Nov-01-2009 -- Reading the Tea Leaves at Nintendo
Nintendo, which competes with Sony and Microsoft in the multi-billion dollar video game industry, sold 5.75 million Wii machines worldwide in the period, down from 10.1 million a year earlier.
The novelty has worn off, the marketing isn't as powerful as it used to be, and Wii is no longer in demand like it used to be. More...

Nov-01-2009 -- Homebuyer Tax Credit May Be Approved Early Next Week, Reid Says
If things go bad, I'm outta here.
With expiration of the credit looming, new home sales fell by 3.6 percent in September, or an annual rate of 402,000. More...

Nov-01-2009 -- The Global Anti-Trust Battle Over Google's Library
The accusations by the Chinese media are just the latest bit of negative publicity Google has been receiving over the course of the last few months from Chinese authorities, after it was criticized for allowing pornographic links to appear in its search results and for not fully respecting copyright law when scanning books to display on what has become one of the most popular services offered by the search giant.
A settlement has now been reached under which Google has agreed to provide a book registry, to which copyright holders of books could register and receive an agreed settlement for each book that has been digitized. More...

Nov-01-2009 -- Errant-Flight Probe Looks at Controllers
AP Photo/ KGW.com Northwest pilot Richard Cole at his home in Salem, Ore. The Federal Aviation Administration revoked the licenses of Cole and the other Northwest Airlines pilot who overshot their Minneapolis destination by 150 miles.
Every box should record every minute of every flight. More...

Nov-01-2009 -- Herhold: My kid's screaming? Throw me off the plane
You're on a packed cross-country flight and you get stuck sitting next to a screaming child.
I have brought art supplies (minimal - but a little water paint and play dough can go a long way!!), always had books to read, and whatever it took to keep the kids happy on the airplane. More...

Nov-01-2009 -- Galleon case portrays a world of corporate leaks
The Galleon Group, the hedge fund at the center of a suspected insider trading ring, has liquidated about 90 percent of its nearly $3.7 billion portfolio of technology stocks and other securities, a person close to the firm told DealBook.
NEW YORK (Dow Jones)--The judge hearing the U.S. Securities and Exchange Commission's civil insider-trading case against Raj Rajaratnam, the founder of hedge-fund firm. More...

Nov-01-2009 -- SC traveled a long road to land Boeing
NORTH CHARLESTON, S.C. — A $750 million Boeing 787 assembly plant is expected to bring thousands of badly needed jobs to South Carolina's ailing economy and, officials hope, a closer look at the state by other industrial prospects.
Boeing's new production line could ultimately bring $10 billion to the state, McConnell said. More...

Nov-01-2009 -- Consumer Electronics Makers Show Strength
The Japanese electronics firm'''s net loss in the three months to 30 September compared with a profit of 20.8bn yen (''138m) in the same period last year.
The global slowdown dragged on consumer spending and the strong yen pushed down overseas sales when translated into yen. More...

Nov-01-2009 -- Don't Be Snookered By That +3.5% GDP Report
In the normal case, GDP growth precedes a return to health for the labor market.
Recall that the National Association of Home Builders, a group which ostensibly supports any program that helps sell homes, has itself estimated that if the home buyer tax credit is extended through November 2010, would cost about $30 billion in lost tax receipts while generating tax revenues for federal, state and local governments of $11.6 billion.'' More...

Nov-01-2009 -- In Hindsight: As Great Recession ends, does Droid era begin?
The Verizon Wireless network is positioned to handle heavy smartphone usage, but it's Apple's call, says Verizon chief.
Submitted by mike (not verified) on October 31, 2009 - 9:35am. More...