Tuesday, May 25, 2010

Business - 25 May 2010

  • The New Perfect E-reader Price: $99
    Tue, 25 May 2010 13:46:40 +0000
    Chip maker Freescale says e-readers will get much more affordable for the holidays, in part to avoid
  • Wall Street slides on Europe, Korea worries
    Tue, 25 May 2010 13:45:36 +0000
    NEW YORK (Reuters) - U.S. stocks tumbled at the open on Tuesday, with the S&P 500 hitting a fresh intraday low for the year, on worries over Europe's banking sector and as North Korea ramped up rhetoric against the South.


  • Obama renews push for $30 billion small business plan
    Tue, 25 May 2010 13:43:49 +0000
    WASHINGTON (Reuters) - President Barack Obama is to renew a push on Tuesday to persuade the U.S. Congress to approve a $30 billion plan to spur lending to small businesses and trigger job creation.


  • Carolina Hurricanes Not Worth Much
    Tue, 25 May 2010 13:43:29 +0000
    It has yet to be proven that people care about hockey in Raleigh.
  • U.S. stocks join global decline
    Tue, 25 May 2010 13:38:10 +0000
    U.S. stocks opened sharply lower Tuesday after a sell-off in global markets rattled confidence.
  • Home prices show renewed pressure: S&P
    Tue, 25 May 2010 13:37:54 +0000
    NEW YORK (Reuters) - Single-family home prices were unchanged in March from February, but fell in the first quarter on renewed price pressure as federal aid faded away, Standard & Poor's/Case Shiller home price indexes showed on Tuesday.


  • Twitter Demands A Cut Of All Ads Sold Around Twitter API
    Tue, 25 May 2010 13:35:05 +0000
    Publishers better get ready to pay Twitter for any ads they're selling around tweets brought in thro
  • Stocks Tumble At The Open
    Tue, 25 May 2010 13:35:00 +0000
    Fears the European debt crisis will spread continue to weigh on U.S. equities.
  • Archive: Vente-privee Refashions Closeouts
    Tue, 25 May 2010 13:32:51 +0000
  • Germany eyes wider short-selling ban
    Tue, 25 May 2010 13:22:20 +0000
    BERLIN/ROME (Reuters) - Germany may widen its ban on speculative financial trades to cover all shares, a leaked government document showed on Tuesday, as fears about the euro zone's debt crisis sent stocks and the euro plunging further.


  • Futures down on global fears
    Tue, 25 May 2010 13:16:54 +0000
    Futures on U.S. stock indices point to a markedly lower opening on global tensions from Europe and Asia.
  • U.S. Stock Futures Drop on Borrowing Costs, Tensions in Korea
    Tue, 25 May 2010 13:14:00 +0000
    U.S. stock futures fell, indicating the Standard & Poor’s 500 Index may slip to 2010’s lowest level, as bank borrowing costs rose and a report said North Korean leader Kim Jong Il ordered his military to prepare for combat.
  • German Short Ban Drops ‘Bomb’ on Regulators, Lawyers (Update2)
    Tue, 25 May 2010 13:13:00 +0000
    Germany’s unilateral move to curb speculative trading of government bonds and some naked short selling last week forced lawyers to work long hours to interpret rules enacted with less than a day’s notice.
  • Thaksin Arrest Warrants Grow as Terrorism Claim Added (Update1)
    Tue, 25 May 2010 13:10:00 +0000
    Thailand’s Criminal Court approved an arrest warrant for fugitive ex-leader Thaksin Shinawatra on terrorism charges for inciting anti-government protests culminating in a military assault and arson attacks last week.
  • Home Prices in U.S. Cities Rose 2.3% in March From Year Earlier
    Tue, 25 May 2010 13:08:19 +0000
    Home prices in 20 U.S. cities rose less than forecast in March from a year earlier, a sign the housing recovery is cooling.
  • Home prices continue slide
    Tue, 25 May 2010 13:07:00 +0000
    Home prices fell in the first quarter of 2010 but are still higher than they were a year ago.
  • Reuters Summit - SocGen sees growth in Asia commods trade finance
    Tue, 25 May 2010 13:00:30 +0000
    SINGAPORE (Reuters) - French bank Societe Generale aims to grow its trade financing volume in Asian commodities by 20-25 percent this financial year, after raising it by over 80 percent to $50 billion in the past year, senior executives said.
  • Microsoft Shaking Up Entertainment Group In Desperate Attempt To Catch Apple And Google
    Tue, 25 May 2010 13:00:29 +0000
    At Microsoft J Allard is indeed out, but it sounds as though that's just the beginning.
  • Air France 447 Crash Hunt Ends With Areas Unexplored (Update1)
    Tue, 25 May 2010 12:58:00 +0000
    Investigators probing the crash of an Air France plane off Brazil last year ended their search for its flight recorders with 200 square miles of ocean floor unexplored after misinterpreted data sent them on a six-day detour.
  • Geithner Is Confident ‘as I’ve Ever Been’ on Yuan (Update2)
    Tue, 25 May 2010 12:56:00 +0000
    U.S. Treasury Secretary Timothy F. Geithner said he’s “as confident as I’ve ever been” that China has a growing incentive to let the yuan gain against the dollar.
  • Google Continues to Expand Its Advertising Empire
    Tue, 25 May 2010 12:53:16 +0000
    What will another Google acquisition in the digital advertising space mean for advertisers?
  • Chinese protectionism, not the yuan, is our greatest concern, says top US negotiator
    Tue, 25 May 2010 12:52:35 +0000
    Rising levels of back-door protectionism against foreign businesses in China is potentially of greater concern to US interests than the under-valuation of the Chinese currency, Washington's top trade negotiator warned on Tuesday.
  • StanChart $588 mln India issue covered 5 pct on day 1
    Tue, 25 May 2010 12:51:12 +0000
    MUMBAI (Reuters) - The share sale by UK bank Standard Chartered to raise up to $588 million was covered about 5 percent on its first day, with most bids at the low end of the price band, stock exchange data showed.
  • INTERVIEW - Hotel Leela to cut debt by 7-9 bln rupees
    Tue, 25 May 2010 12:51:02 +0000
    MUMBAI (Reuters) - Hotel Leelaventure Ltd which owns five-star hotels, plans to launch a share sale to institutions after July to raise about 3.75 billion rupees and aims to cut debt by 7-9 billion rupees, a top official said.
  • Euro Falls on Concern Spain’s Bank Woes Signal Crisis Spreading
    Tue, 25 May 2010 12:51:00 +0000
    The euro fell to the lowest level since 2001 against the yen as concern about weakness in Spain’s savings banks fueled speculation the sovereign debt crisis in Europe is spreading.
  • EU urges Greece to stick to austerity, pension plan
    Tue, 25 May 2010 12:50:51 +0000
    BRUSSELS/ATHENS (Reuters) - The European Union sent Greece a letter to remind it to stick to the terms of a 110-billion euro ($134.6 billion) bail-out deal, officials said ahead of talks this week on Athens' pension reform plans.
  • JK Tyre says to raise prices by 3-4 pct in June
    Tue, 25 May 2010 12:50:41 +0000
    NEW DELHI (Reuters) - JK Tyre and Industries plans to increase prices of its products by 3-4 percent in June, Managing Director Raghupati Singhania told reporters on Tuesday.
  • BP Spill Inspires Twitter Spoof
    Tue, 25 May 2010 12:45:36 +0000
    Twitterer parodies online public-relations efforts.
  • World stock markets see big falls
    Tue, 25 May 2010 12:45:21 +0000
    Global stock markets fall heavily on fears about the debt problems in the eurozone and tensions over North Korea.
  • Stocks, Commodities Plunge on Spanish Banks, Tensions in Korea
    Tue, 25 May 2010 12:43:00 +0000
    Stocks fell around the world, with the benchmark index at a nine-month low, and commodities slumped on concern over Spain’s ailing banks and mounting tension on the Korean peninsula
  • Fed's Bullard: Rate path depends on econ through 2011
    Tue, 25 May 2010 12:35:31 +0000
    LONDON (Reuters) - The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.


  • Oil falls 3% in global sell-off
    Tue, 25 May 2010 12:34:03 +0000
    Oil futures plummeted more than 3% Tuesday as political tension between North and South Korea -- and Europe's continued economic woes -- sparked a sell-off in global stock markets.
  • Bank regulation reform revealed
    Tue, 25 May 2010 12:31:31 +0000
    Financial regulation will be put back in the hands of the Bank of England under the proposed Financial Reform Bill.
  • World stocks, euro plummet on banking, Korea woes
    Tue, 25 May 2010 12:30:43 +0000
    LONDON (Reuters) - World stocks slid to their lowest since Sept 2009, the euro eyed four-year lows and U.S. stock futures pointed to sharp falls on Wall Street on Tuesday, on euro zone banking worries and geopolitical risk in Korea.
  • Beware of the bubble in bonds
    Tue, 25 May 2010 12:16:54 +0000
    Here we go again. In just six weeks the prices of U.S. Treasuries have soared, sending the yields on the 10-year bond from 4% back to 3.2%, close to their levels when terror reigned early last year. Don't let Wall Street's cheerleaders convince you that the sudden drop in the cost of borrowing heralds a new era of moderate inflation that will keep Treasury prices aloft, and interest rates low, for years to come.
  • Cisco Aims New Gear At Smart Grids
    Tue, 25 May 2010 12:00:00 +0000
    The networking giant's latest routers and switches are designed for utility customers.
  • Microsoft to shake up phone, Xbox unit: report
    Tue, 25 May 2010 11:52:39 +0000
    SEATTLE (Reuters) - Microsoft Corp is set to overhaul management of its division focused on mobile phones, videogames and other consumer devices, the Wall Street Journal said on Monday, citing people familiar with the matter.


  • GMR Infra to raise $100 mln in energy unit
    Tue, 25 May 2010 11:50:39 +0000
    NEW DELHI (Reuters) - GMR Infrastructure will announce a $100 million private equity investment in its energy unit in a week, a senior company official said, without elaborating.
  • Pru chairman confident shareholders will back AIA bid
    Tue, 25 May 2010 11:32:49 +0000
    HONG KONG/LONDON (Reuters) - Most of Prudential's investors are comfortable with its bid for AIG's Asian life unit AIA, its chairman said, moving to dispel fears shareholders may baulk at the $35.5 billion cost of the deal.


  • Funding costs up as Spain bank underscores woes
    Tue, 25 May 2010 11:26:44 +0000
    Bank-to-bank funding costs mostly rose on Monday despite ample money market liquidity as worries about the financial system mounted after the Bank of Spain took over savings bank CajaSur.
  • Asian stock markets plunge over Korean spat, European crisis
    Tue, 25 May 2010 11:23:55 +0000
    Asian stock markets plunged on Tuesday, led by fears that Europe's debt crisis may be prolonged and obstruct global economic recovery. The political tensions between South and North Korea also weighed on the markets.
  • Platinum, palladium resume last week's slide
    Tue, 25 May 2010 11:20:30 +0000
    Platinum and palladium fell in Europe on Tuesday, resuming last week's downward slide, as investors were spooked by a further drop in the euro and equity markets, and as industrial end-users held out for lower prices.
  • U.S. stock index futures signal sharply lower open
    Tue, 25 May 2010 11:12:18 +0000
    Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 were down 2.2 to 2.5 percent at 0915 GMT on Tuesday, pointing to a steep decline on Wall Street.
  • Business Bullet: Spain, Pru, UK growth, BA
    Tue, 25 May 2010 10:59:59 +0000
    The latest news on: Spain, Pru, UK growth, BA
  • Prudential shares fall on Asian debut
    Tue, 25 May 2010 10:52:41 +0000
    Prudential shares fell on their Asia debut on Tuesday, hit by a global sell-off and concerns over shareholder support for the British insurer's planned purchase of AIA, the industry's biggest acquisition.

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