Sunday, April 25, 2010

Business News - 25 April 2010

  • The Thing About Selling Stocks Is, You?re Forced To Buy Something Else
    Sun, 25 Apr 2010 06:29:37 -0700
    Bonds, dollars, currencies, real estate, gold, much as equity markets have run, do a
  • Gulf Islamic banks eye conversion of conventional peers
    Sun, 25 Apr 2010 06:27:43 -0700
    MANAMA/DUBAI (Reuters) - More banks in the Gulf Arab region may convert to Islamic finance in a bid to tap rising demand for sharia-compliant products and to avoid the heavy investment required to launch new banks.

  • South Africa’s Zuma, Launching Campaign, Tests HIV Negative
    Sun, 25 Apr 2010 06:22:16 -0700
    South African President Jacob Zuma, who drew widespread public criticism in February after he admitted to fathering his 20th child out of wedlock, said he tested HIV-negative. Zuma, speaking at the launch of an HIV/AIDS campaign, said he decided to share his results to promote openness on the subject, according to an e-mailed statement from the president’s office. The HIV test was taken on April 8. The campaign is seeking to test 15 million people by the end of June 2011.
  • Farepak new payout 15p per pound
    Sun, 25 Apr 2010 06:14:42 -0700
    Almost four years after the Christmas hamper firm Farepak collapsed, customers will get 15p for every pound lost.
  • Brown Can’t Be Premier If He Comes Third, Clegg Says (Update1)
    Sun, 25 Apr 2010 06:12:00 -0700
    Liberal Democrat leader Nick Clegg said it would be “preposterous” for Gordon Brown to stay as prime minister if his Labour Party comes third in the popular vote in the May 6 election, ruling out support for such a government in a hung Parliament.
  • Dubai Shares Rise to Highest in Week on Emaar Profit, Oil Jump
    Sun, 25 Apr 2010 06:07:00 -0700
    Dubai’s benchmark index climbed to the highest in a week after Emaar Properties PJSC, the measure’s biggest company by weighting, said quarterly profit more than tripled and oil rose above $85 a barrel.
  • Kebede of Ethiopia, Shobukhova Win London Marathon (Update1)
    Sun, 25 Apr 2010 05:59:00 -0700
    Tsegaye Kebede of Ethiopia won the men’s London marathon today, while Liliya Shobukhova became the first Russian to win the women’s event.
  • Germany, France signal hard line with Greece
    Sun, 25 Apr 2010 05:40:26 -0700
    BERLIN (Reuters) - European heavyweights Germany and France vowed on Sunday to take a hard line with Greece in exchange for financial support as doubts emerged over whether a 45 billion euro aid package was sufficient to prevent a default.
  • Goldman's to swear on internal division
    Sun, 25 Apr 2010 05:36:51 -0700
    Goldman Sachs is to admit that it got "many calls wrong" ahead of the collapse of the housing market in America and ended up losing $1.7bn in its mortgage division in 2008 by taking long positions when the market was already beginning to turn sour.
  • Reject Xstrata chief's pay deal, says Manifest
    Sun, 25 Apr 2010 05:32:56 -0700
    The pay package of Mick Davis, the chief executive of Xstrata, has been attacked for being too generous by proxy voting agency Manifest ahead of the mining giant's AGM on May 5.
  • Avanti! Italian cars coming to U.S.
    Sun, 25 Apr 2010 05:32:14 -0700
    In the next few years, we'll be seeing more Italian cars on American roads as Fiat and Alfa Romeo return to the states after a nearly two decade absence.
  • ..." target="_blank">Why Israel ended its iPad ban
    Sun, 25 Apr 2010 05:31:44 -0700
  • Camelot plan to enter bill payment market prompts competition row
    Sun, 25 Apr 2010 05:30:28 -0700
    Camelot, the operator of the National Lottery, has been attacked over its plans to enter the bill payments and mobile top-up market by pay companies, retail organisations and faith groups.
  • Aviva lets shareholders vote on ethical policy
    Sun, 25 Apr 2010 05:27:34 -0700
    Aviva will become the first British company to put its ethical policy to a shareholder vote this week in a move it hopes is repeated across the business world.
  • Insurers attack IMF levy on financial sector
    Sun, 25 Apr 2010 05:25:11 -0700
    Britain's insurance industry leaders have turned on plans for new taxes on the financial sector as having a disproportionate impact on one of the UK's most successful sectors.
  • Germany, France signal hard line with Greece
    Sun, 25 Apr 2010 05:22:19 -0700
    BERLIN (Reuters) - European heavyweights Germany and France vowed on Sunday to take a hard line with Greece in exchange for financial support as doubts emerged over whether a 45 billion euro ($60.2 billion) aid package was sufficient to prevent a default.

  • Add Apple to the Dow
    Sun, 25 Apr 2010 05:10:08 -0700
    Apple is no longer some plucky tech underdog scrambling to catch up with Microsoft. So isn't it time for the company to join Microsoft in the venerable Dow Jones industrial average?
  • Windows 7 use grows
    Sun, 25 Apr 2010 05:08:20 -0700
    Microsoft posted a quarterly profit Thursday that surged from a year earlier and topped Wall Street's forecasts, thanks to momentum from Windows 7, the operating system released in October.
  • Ford Q1 profit expected, focus now sustainability
    Sun, 25 Apr 2010 05:00:37 -0700
    DETROIT (Reuters) - Ford Motor Co is expected on Tuesday to post a first-quarter profit with North American production picking up amid a gradual recovery in U.S. auto industry sales overall.
  • Al Baraka, Emirates Global Islamic merge Pakistan ops
    Sun, 25 Apr 2010 05:00:27 -0700
    MANAMA (Reuters) - Bahrain-based Islamic lender Al Baraka said on Sunday it would merge the Pakistani operations of one of its units with Emirates Global Islamic Bank, creating a bank with assets of $582 million.
  • Stocks: 8 weeks up and counting
    Sun, 25 Apr 2010 04:58:45 -0700
    Stocks have been on a tear, with the Dow industrials rising for eight straight weeks, the longest winning streak in six years. But with a slew of quarterly reports and a Fed meeting on tap, another up week could be tough.
  • E.I.D. Parry to take majority stake in GMR Industries
    Sun, 25 Apr 2010 04:50:27 -0700
    MUMBAI (Reuters) - Indian sugar producer E.I.D Parry has agreed to acquire a majority stake in GMR Industries, the companies said in a joint statement on Sunday.
  • Ford Q1 profit expected, focus now sustainability
    Sun, 25 Apr 2010 04:19:14 -0700
    DETROIT (Reuters) - Ford Motor Co is expected on Tuesday to post a first-quarter profit with North American production picking up amid a gradual recovery in U.S. auto industry sales overall.

  • Euro zone needs to be firm with Greece - France
    Sun, 25 Apr 2010 03:30:38 -0700
    PARIS (Reuters) - Helping Greece overcome its debt problems is necessary for euro zone stability but the bloc needs to be firmer with members if it wants to prevent future crises, French Economy Minister Christine Lagarde told a newspaper.
  • UAE banks likely to take Dubai World hit in Q2
    Sun, 25 Apr 2010 03:30:26 -0700
    DUBAI (Reuters) - United Arab Emirates banks are likely to face the brunt of the Dubai World restructuring impact in the second quarter after the central bank told lenders they are not required to book provisions until there is more clarity.
  • IMF head speaks out on Greek fear
    Sun, 25 Apr 2010 03:26:50 -0700
    The IMF head says Greeks should not fear his agency, which wants to help tackle the country's economic crisis.
  • Hungarians Vote in Second Round That May Boost Fidesz (Update1)
    Sun, 25 Apr 2010 03:21:00 -0700
    Hungarians began voting in the second round of general elections that are likely to extend the Fidesz party’s victory to a two-thirds majority.
  • Mittal stays top of UK's rich list
    Sun, 25 Apr 2010 03:10:18 -0700
    Defying recession, Britain s super- rich continued to see their wealth rise with Indian-origin steel magnate Lakshmi Mittal topping the Sunday Times Rich List for 2010 for sixth consecutive year with a fortune of 22.45 billion pounds. India-born mining magnate Anil Agarwal moved 60 places up to 10th position, thanks to rising share prices of mining group Vedanta Resources. His wealth jumped from 600 million pounds to 4.1 billion pounds. Leading NRI industrialist Lord Swraj Paul, with a fortune of 550 million pounds in 2010 is the sixth richest
  • Now, rich man is Tatas' target
    Sun, 25 Apr 2010 03:10:12 -0700
    After wooing the common man with products like the Nano and sub Rs 4 lakh housing, Tatas are now targeting the opposite end of the spectrum with plans to develop apartments in a price range of Rs 3-7 crore. We have successfully launched our low-cost housing and it is currently under execution. Now we have ventured into the ultra luxury segment and are offering apartments between Rs 3 crore and Rs 7 crore, Tata Housing Development Company Managing Director and CEO Brotin Banerjee told PTI. Last year, the company had launched a 1,300-unit low-cost
  • Govt to face trial of strength in LS over price hike
    Sun, 25 Apr 2010 03:10:05 -0700
    Skating on thin ice, Government is readying itself to face a possible trial of strength in the Lok Sabha this week with the united opposition planning to corner it on the issue of price rise. Already the government is under pressure on the IPL controversy amid demands for a JPC probe and the alleged telephone tapping scandal is bound to rock the Lok Sabha and the Rajya Sabha tomorrow. The BJP-led NDA and the 13-party grouping brought together by the Left parties have separately announced plans to bring cut motions to force government roll back
  • New austerity a precondition for Greek aid - Germany
    Sun, 25 Apr 2010 02:30:27 -0700
    BERLIN (Reuters) - Greece must agree to tough new austerity measures before it receives any financial aid from the European Union and failure to do so would endanger such support, German Finance Minister Wolfgang Schaeuble told a newspaper.
  • L’Occitane May Raise $707 Million to Expand Stores (Update2)
    Sun, 25 Apr 2010 01:26:00 -0700
    L’Occitane International SA, a French maker of beauty products, said it plans to use two-thirds of proceeds raised in an initial public offering of as much as HK$5.49 billion ($707 million) to open new stores.
  • China c.banker vows to control price rise expectations
    Sat, 24 Apr 2010 21:10:38 -0700
    BEIJING (Reuters) - China will adopt a package of policy tools to contain widespread inflationary expectations and nip potential risks in the bud, according to a central bank statement published on Sunday.
  • Flaherty to meet Canada banks on insurance rules
    Sat, 24 Apr 2010 21:10:26 -0700
    WASHINGTON (Reuters) - Canadian Finance Minister Jim Flaherty hopes to reach an agreement with banks within days that would prohibit them from marketing insurance products on their websites, he told reporters on Saturday.
  • Rose export in Bangalore affected due to volcanic eruption
    Sat, 24 Apr 2010 21:01:00 -0700
    In the wake of recent volcanic eruption in Iceland, Rose exports in Karnataka have declined to a great extent due to cancellation of international flights.
  • JAL seen posting loss of $1.7 billion: report
    Sat, 24 Apr 2010 20:04:40 -0700
    TOKYO (Reuters) - Debt-ridden Japan Airlines (JAL) is forecast to have posted a group operating loss of about 160 billion yen ($1.7 billion) for the financial year that ended in March, Japan's Sankei newspaper reported on Sunday.

  • Shortsighted to oppose bank tax, IMF warns
    Sat, 24 Apr 2010 19:05:58 -0700
    WASHINGTON (Reuters) - Countries that weathered the global economic crisis with their financial systems relatively unscathed are being shortsighted by opposing a global bank levy, the IMF's chief said on Saturday.

  • IMF eyes data mission to Argentina
    Sat, 24 Apr 2010 17:34:23 -0700
    WASHINGTON (Reuters) - The IMF and Argentina are talking about sending an IMF technical mission to the country to improve the quality of the government's economic data, a senior IMF official said on Saturday.

  • Minnesota man out to change UK retail
    Sat, 24 Apr 2010 15:26:36 -0700
    Ostensibly it's hard to see what all the fuss it about. For two years threat of invasion by Best Buy the American electrical retailer, has struck fear into Britain's biggest retailers including DSG International, the owner of Dixons, Curry's and PC World, and even Tesco.
  • Osborne to replace Serious Fraud Office with super-agency
    Sat, 24 Apr 2010 14:43:37 -0700
    British businesses could be scrutinised by a "super detective" with the combined powers of a swathe of economic crimebusters including the Serious Fraud Office and Financial Services Authority under radical plans by the Conservative Party.
  • New flagship store for Apple in central London
    Sat, 24 Apr 2010 14:34:12 -0700
    Apple is finalising plans to open a new flagship store in central London as it prepares for the British launch of its new iPad tablet computer.

Sports News - 25 April 2010