Friday, June 4, 2010

Business - 04 June 2010

  • Markets go on a Hungary strike - The Buzz
    Fri, 04 Jun 2010 10:02:10 -0700
    Just when we all got used to referring to Europe's fiscal crisis with the tidy little acronym of the PIIGS, another European country is angling for admittance into the bad debt club.
  • Fannie Mae’s Duncan Says Homebuyer Tax Credit Shifted Demand
    Fri, 04 Jun 2010 10:02:01 -0700
    The federal homebuyer tax credit shifted demand in the U.S. housing market without having a lasting impact on prices, according to Douglas Duncan, chief economist of Fannie Mae, the largest mortgage financier.
  • Prudential CEO ‘Sorry’ for Spending on Failed AIA Bid (Update2)
    Fri, 04 Jun 2010 10:02:00 -0700
    Prudential Plc Chief Executive Officer Tidjane Thiam made his first public apology following the company’s failed $35.5 billion attempt to buy American International Group Inc.’s main Asian unit.
  • Job growth disappoints on weak private sector hiring
    Fri, 04 Jun 2010 10:00:44 -0700
    WASHINGTON (Reuters) - Hiring by U.S. private employers slowed sharply in May, a setback for the economy's recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.

  • Loan Selloff Forcing Borrowers to Boost Rates: Credit Markets
    Fri, 04 Jun 2010 10:00:00 -0700
    Calpine Corp., the largest U.S. generator of natural-gas-fueled electricity, and at least five more borrowers are being forced to boost interest rates on proposed loans after the market’s worst month since 2008.
  • Euro down to four-year dollar low
    Fri, 04 Jun 2010 09:58:51 -0700
    The euro falls to a new four-year low against the dollar after the French PM suggests the weakening euro is "good news".
  • Tesla Electric Car Credit Sales to Honda Ease Losses (Update1)
    Fri, 04 Jun 2010 09:57:00 -0700
    Tesla Motors Inc., a startup backed by Toyota Motor Corp. and Daimler AG, hasn’t turned a profit on rechargeable sports cars bought by Brad Pitt and George Clooney. A less glamorous side business of selling environmental credits to Honda Motor Co. has helped ease those losses.
  • Oil spill: How bad it could get
    Fri, 04 Jun 2010 09:49:03 -0700
    The bad news is: Things in the Gulf of Mexico could get a whole lot worse.
  • Jobs Report Disappoints
    Fri, 04 Jun 2010 09:47:20 -0700
    The jobs report came across the wires this morning and investors were not happy with what they saw. In May, 431,000 new jobs were added, but the private sector saw very few new hires.
  • US shares fall on weak jobs data
    Fri, 04 Jun 2010 09:46:50 -0700
    Stock markets fall after the latest US unemployment data shows fewer jobs were created in May than expected.
  • BSkyB pays £160m for Virgin Media's channels
    Fri, 04 Jun 2010 09:45:07 -0700
    BSkyB has finally bought Virgin Media's subscription television channels. Sky will pay £160m for Virgin channels including Living, Bravo and Challenge.
  • Upgrades Little Help For FirstEnergy, Joy Global
    Fri, 04 Jun 2010 09:45:00 -0700
    With markets hurting over a lackluster jobs report, better analyst grades do little to lift shares.
  • Obama Heads to Gulf as ‘Furor’ Shifts to White House (Update1)
    Fri, 04 Jun 2010 09:44:00 -0700
    President Barack Obama showed he knew a thing or two about oil tar balls when he arrived last week on Fourchon Beach in Louisiana.
  • AOL Isn't Negotiating A Search Deal, It's Negotiating A Sale To Microsoft
    Fri, 04 Jun 2010 09:43:24 -0700
    AOL, which currently outsources search to Google, began negotiating a new search deal last week,CEO
  • Cameron Visits U.K. Massacre Scene as Motive Probed (Update2)
    Fri, 04 Jun 2010 09:43:00 -0700
    Prime Minister David Cameron visited the scene of the worst mass shooting in the U.K. for 14 years as detectives continue to unravel why a taxi driver went on the rampage, slaying 12 people before killing himself.
  • Treasuries ‘Least Dirty Shirt,’ Gross Says: Tom Keene (Update2)
    Fri, 04 Jun 2010 09:41:00 -0700
    Pacific Investment Management Co.’s Bill Gross said Treasuries are the premier holdings for fixed- income investors with the U.S. economy failing to produce private sector jobs and Europe’s sovereign-debt crisis threatening the region’s banking sector.
  • Thirst for oil
    Fri, 04 Jun 2010 09:40:43 -0700
    Energy-hungry China builds stake in Kazakh economy
  • Private Sector Doesn't Measure Up In May Jobs Report
    Fri, 04 Jun 2010 09:40:00 -0700
    Nonfarm payrolls add 431,000, but the bulk were temp hires by Uncle Sam.
  • Upgrades: FE, JOYG, MCD
    Fri, 04 Jun 2010 09:40:00 -0700
    This morning, Citigroup upgraded shares of FirstEnergy (FE) from hold to buy as spark spreads improve
  • Forget Apple?s iPad, Publishers Need To Worry About Tigers
    Fri, 04 Jun 2010 09:32:48 -0700
    The trouble with tigers is that once one has been let loose in a city you live in, you're likely to
  • U.S. Payrolls Increase Less Than Forecast
    Fri, 04 Jun 2010 09:32:00 -0700
    Employers in the U.S. hired fewer workers in May than forecast and Americans dropped out of the labor force, showing a lack of confidence in the recovery that may lead to slower economic growth
  • Stocks fall on jobs report and euro
    Fri, 04 Jun 2010 09:27:49 -0700
    Stocks slumped Friday after a government report showed employers added fewer jobs than expected last month and the euro plunged to a new 4-year low, reviving worries about the health of the European economy.
  • Euro plummets below $1.20
    Fri, 04 Jun 2010 09:21:32 -0700
    The euro fell to a fresh four-year low below $1.20 Friday, as investors cast fresh doubts on the European debt crisis and a global recovery after gloomy economic statements out of Hungary and a disappointing U.S. jobs report.
  • Markets tumble on weak jobs data, Europe fears
    Fri, 04 Jun 2010 09:18:52 -0700
    U.S. stocks fell sharply on Friday after the May payrolls report showed private hiring was much lower than expected, raising fears about the strength of the economic recovery.
  • Scottish & Southern pays $324m for North Sea gas
    Fri, 04 Jun 2010 09:17:42 -0700
    Scottish & Southern Energy is to buy almost 80pc of the North Sea gas assets of Hess for $324m (£290m) after the US company's partners exercised their right to acquire the remaining 20pc.
  • Dow falls briefly below 10,000
    Fri, 04 Jun 2010 09:17:06 -0700
    NEW YORK (Reuters) - Stocks dropped more than 2 percent on Friday, with the Dow industrials falling briefly below the 10,000 level as a disappointing jobs report and another possible debt crisis, this time in Hungary, intensified fears about the stability of the economic recovery.

  • Santander emerge as favourite to buy RBS small business arm
    Fri, 04 Jun 2010 09:06:50 -0700
    National Australia Bank has pulled out of the running for Royal Bank of Scotland's small business operation, clearing the way for Spain's Santander to acquire the business.
  • Financial advisers need advice too
    Fri, 04 Jun 2010 09:06:18 -0700
    TORONTO (Reuters) - Even the all-time greats need help to do their best.

  • The World's Biggest Illicit Industries
    Fri, 04 Jun 2010 09:02:27 -0700
    From drugs to oil smuggling, the dark side of globalization generates hundreds of billions in profits annually.
  • The World's Biggest Illicit Industries
    Fri, 04 Jun 2010 09:02:27 -0700
    From drugs to oil smuggling, the dark side of globalization generates hundreds of billions in profits annually.
  • Americans More Optimistic About War On Terror
    Fri, 04 Jun 2010 09:00:00 -0700
    What voters think about the military, Iraq and Afghanistan.
  • Annuities: Good, Bad Or Ugly?
    Fri, 04 Jun 2010 09:00:00 -0700
    Bogleheads object to high expense, surrender fees and sales tactics.
  • Clarifying Corporate Responsibility, Part IV: Capturing And Sustaining Value
    Fri, 04 Jun 2010 08:58:22 -0700
    When companies first venture into CSR, most tend to practice what I call CSR voodoo. Voodoo because
  • BP Stands By Its Man
    Fri, 04 Jun 2010 08:55:00 -0700
    Oil company backs up Hayward on investor call, but mum's the word on a possible dividend cut.
  • Jobs Report Disappoints
    Fri, 04 Jun 2010 08:47:20 -0700
    The jobs report came across the wires this morning and investors were not happy with what they saw.
  • Wal-Mart sets new $15 billion repurchase plan
    Fri, 04 Jun 2010 08:46:26 -0700
    FAYETTEVILLE, Arkansas (Reuters) - Wal-Mart Stores Inc announced a new $15 billion share repurchase plan at its annual meeting on Friday, as shareholders look for greater returns from the world's largest retailer.

  • Honda reaches pact with China parts plant workers
    Fri, 04 Jun 2010 08:44:53 -0700
    FOSHAN, China/TOKYO (Reuters) - Honda Motor said on Friday it settled a labor dispute at a Chinese car parts plant after almost three weeks of disruption, allowing it to build cars again in the world's fastest-growing market.

  • Are You Pushing In A Pull World?
    Fri, 04 Jun 2010 08:40:51 -0700
    A new book argues that companies need to adapt to a fundamental change in the business world--and offers advice on making the tough transition.
  • Equities Tumble On Jobs Data, Falling Euro
    Fri, 04 Jun 2010 08:35:00 -0700
    Most of last month's job gains were temporary census-related hires.
  • Silver 'will outperform gold'
    Fri, 04 Jun 2010 08:24:27 -0700
    Silver will outperform gold as the yellow metal becomes ever more expensive and investors focus on silver's industrial demand, according to a fund manager.
  • Game 1 of NBA Finals: Ratings Up 17% Over Last Year
    Fri, 04 Jun 2010 08:06:42 -0700
    Ratings for Game 1 of the NBA Finals are up from last year, highlighting the rivalry between the Lak
  • AgBank IPO draft forecasts '10 net profit up 28 percent
    Fri, 04 Jun 2010 08:05:35 -0700
    HONG KONG/SHANGHAI (Reuters) - Agricultural Bank of China , preparing for the world's largest-ever IPO, unveiled key financial figures on Friday, detailing plans to issue up to 47.6 billion new shares and forecasting a sharp rise in yearly net profit.

  • Hargreaves Lansdown rises on FTSE 250 as Head of Research sells his shares because of CGT
    Fri, 04 Jun 2010 07:59:25 -0700
    Hargreaves Lansdown shares are up 11.50 pence on the FTSE 250 as its Head of Research sells his shares.
  • BP leaves Barack Obama looking all at sea
    Fri, 04 Jun 2010 07:57:44 -0700
    It doesn't help that Obama's anti-BP rhetoric appears to be fired by an apparent anti-Britishness, writes Simon Heffer.
  • G20 policymakers candid about world economic risks
    Fri, 04 Jun 2010 07:34:21 -0700
    BUSAN, South Korea (Reuters) - Leading policymakers spoke with unusual frankness on Friday of their fears that the euro zone's financial and banking woes could derail the global economic recovery.

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