Thursday, June 24, 2010

Business - 24 June 2010

  • Chips are down?
    Thu, 24 Jun 2010 06:10:10 -0700
    Failure is key to Silicon Valley's success
  • Prison term demanded for Kerviel
    Thu, 24 Jun 2010 06:07:10 -0700
    The prosecutor in the trial of former trader Jerome Kerviel calls for him to spend four years in prison, should he be convicted.
  • Jobless claims fall, durable orders ex-transport up
    Thu, 24 Jun 2010 06:03:14 -0700
    WASHINGTON (Reuters) - New claims for jobless benefits fell last week, while orders for long-lasting manufactured goods excluding transportation rose in May, offering hope the fragile economic recovery remained intact.

  • South Africa FRA’s Show Best Rate Cut Bet Since April
    Thu, 24 Jun 2010 06:00:00 -0700
    South African traders are increasing bets that the central bank will cut interest rates two months after policy makers damped speculation of further reductions.
  • Lennar posts profit but orders down 10 percent
    Thu, 24 Jun 2010 05:59:36 -0700
    NEW YORK (Reuters) - Homebuilder Lennar Corp reported a quarterly profit that beat expectations, but orders fell, sending shares down slightly in premarket trading.

  • Jobless Claims in U.S. Decrease by 19,000 to 457,000
    Thu, 24 Jun 2010 05:56:00 -0700
    The number of Americans applying for jobless benefits declined last week from a two-month high, pointing to an improvement in the labor market that is taking time to develop.
  • U.S. Two-Year Yield Falls to Lowest Since November on Fed View
    Thu, 24 Jun 2010 05:55:10 -0700
    Treasuries rose, pushing the two- year note yield to the lowest since November, on bets interest rates will remain low after the Federal Reserve said yesterday the recovery pace is “likely to be moderate for a time.”
  • S&P 500 Past ‘Neckline’ Could Slump to 883: Technical Analysis
    Thu, 24 Jun 2010 05:54:10 -0700
    The Standard & Poor’s 500 Index is near a level that, if broken, could lead the U.S. equity benchmark to a 14-month low, according to BTIG LLC.
  • Apple May Sell 1 Million IPhones in New Model’s Debut
    Thu, 24 Jun 2010 05:53:00 -0700
    Apple Inc. will probably sell a record 1 million iPhones today when the new version debuts and people such as John Whalen line up outside stores to be the first to buy it.
  • May durable goods orders drop less than expected
    Thu, 24 Jun 2010 05:51:49 -0700
    WASHINGTON (Reuters) - New orders for long-lasting manufactured goods fell for the first time in six months in May but the drop was less than expected, a government report showed on Thursday.

  • Stocks seen pulling back at open
    Thu, 24 Jun 2010 05:51:33 -0700
    U.S. stocks were poised to fall early Thursday amid growing anxiety about the economic recovery.
  • Dueling Marathons
    Thu, 24 Jun 2010 05:48:27 -0700
    What Washington can learn from Wimbledon.
  • U.S. Durables Orders Minus Transportation Rose 0.9%
    Thu, 24 Jun 2010 05:48:00 -0700
    Orders for durable goods excluding transportation rose in May for the third time in four months, indicating U.S. manufacturing will help maintain the recovery.
  • Fans scramble for Apple's iPhone upgrade
    Thu, 24 Jun 2010 05:46:34 -0700
    NEW YORK/PARIS/TOKYO (Reuters) - Apple fans queued overnight by the hundreds outside stores in the United States, Europe and Japan to snap up the latest iPhone, setting a new benchmark in the fast-growing smartphone market.

  • U.S. Stock Futures Fall on Europe Debt Concern; Nike Slumps
    Thu, 24 Jun 2010 05:44:00 -0700
    U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index may decline on concern the European debt crisis may derail economic growth.
  • Pension age could rise from 2016
    Thu, 24 Jun 2010 05:43:35 -0700
    The government announces plans to raise the state pension age to 66, possibly as early as 2016.
  • Millions more cribs recalled
    Thu, 24 Jun 2010 05:40:32 -0700
    Another 2 million cribs are being recalled due to the drop-side hazard, the culprit in millions of other crib recalls over the last few years.
  • Gaming the Budget Window
    Thu, 24 Jun 2010 05:40:06 -0700
    In the strange world of Washington budgeting, lawmakers can pay for new spending by making it easier
  • The Real Reason A Top House Democrat Wants Middle-Class Tax Hikes
    Thu, 24 Jun 2010 05:38:45 -0700
    If higher tax rates on upper-income taxpayers don't collect much revenue, why is the left so insiste
  • Unemployment claims drop
    Thu, 24 Jun 2010 05:37:27 -0700
    The number of first-time filers for unemployment insurance fell last week, according to a government report released Thursday.
  • Lawmakers renew focus on China after yuan stalls
    Thu, 24 Jun 2010 05:35:45 -0700
    WASHINGTON (Reuters) - Senators said on Wednesday they were unmoved by China's steps to partly free the yuan and vowed to push forward legislation to punish a Chinese currency misalignment they say distorts trade and steals jobs.

  • Russia: Smarter on Taxes Than America
    Thu, 24 Jun 2010 05:34:59 -0700
    The former communists running the country apparently understand tax policy better than the crowd in
  • Second EU-US open skies is signed
    Thu, 24 Jun 2010 05:32:02 -0700
    EU transport ministers sign a second "open skies" agreement with the US at a meeting in Luxembourg.
  • The Non-Jobs Bill
    Thu, 24 Jun 2010 05:29:58 -0700
    It is fair to debate whether the economy needs another fiscal jolt. But for better or worse you won'
  • Number crunch
    Thu, 24 Jun 2010 05:25:34 -0700
    Key savings in the Budget and how they stack up
  • What Would Frustrate the Maximum Amount of Market Participants Now?
    Thu, 24 Jun 2010 05:24:48 -0700
    Now that everyone is an "expert" on the Macro, how hilarious would it be if the micro became profita
  • China's chief auditor warns mounting local government debt a risk to economy
    Thu, 24 Jun 2010 05:20:49 -0700
    Chief auditor warns high levels of local government debt could derail the country's economy.
  • Taiwan, China agree terms of landmark trade deal
    Thu, 24 Jun 2010 05:20:27 -0700
    TAIPEI (Reuters) - A landmark trade deal between Taiwan and China will cut tariffs on more than 800 products and open up service industries, officials and sources said on Thursday, giving a major boost to around $100 billion in annual two-way trade.
  • Sterling slips as dollar trims broad losses
    Thu, 24 Jun 2010 05:06:32 -0700
    Sterling retreated from a six-week high versus the dollar on Thursday as the U.S. currency trimmed broad losses, but the pound was underpinned by hopes a tough UK budget will get Britain back on sound fiscal footing.
  • India gold buying retreats, traders await falls
    Thu, 24 Jun 2010 05:03:17 -0700
    India gold buying retreated on Thursday after a slight pick-up the previous day as traders awaited bigger falls, with a weaker rupee also weighing on sentiment, dealers said.
  • Salary Implications of 'Draft Position' for NBA Rookies
    Thu, 24 Jun 2010 05:00:40 -0700
    Starting with the rookie draft of 1995, the NBA implemented a rookie salary scale for 1st?round draf
  • Stock futures dip on Fed comments
    Thu, 24 Jun 2010 05:00:15 -0700
    NEW YORK (Reuters) - Stock index futures slipped on Thursday as the Federal Reserve underscored worries the recovery was not as robust as hoped and ahead of weekly initial jobless claims data.

  • The World's Deadly Obsession With Israel
    Thu, 24 Jun 2010 05:00:00 -0700
    The real reason the country receives so much attention--and condemnation.
  • Dlr pares losses as Fed outlook dents growth hopes
    Thu, 24 Jun 2010 04:58:04 -0700
    The dollar pared losses and the yen rose on Thursday, as a less optimistic outlook on growth from the U.S. Federal Reserve dented investors' appetite for risk, while the euro was hampered by Greek debt markets.
  • Europe digs in on budget austerity ahead of G20
    Thu, 24 Jun 2010 04:53:18 -0700
    FRANKFURT/BERLIN (Reuters) - European policymakers defended budget austerity plans on Thursday ahead of a G20 summit set to pit calls for fiscal restraint against warnings that heavy cost-cutting threatens recovery.

  • Indian stocks end lower, realty, oil and gas sectors decline
    Thu, 24 Jun 2010 04:53:12 -0700
    Indian stock markets ended lower on derivatives expiry day on Thursday, led by declines in realty, oil and gas, and banking sectors.
  • Wall Street reform bill goes into final hours
    Thu, 24 Jun 2010 04:42:52 -0700
    WASHINGTON (Reuters) - With the historic overhaul of U.S. financial rules nearly complete, lawmakers have waited until the final, frantic hours to sort out the most controversial provisions in the bill.

  • Europe stocks lower; Asian equities closed mixed
    Thu, 24 Jun 2010 04:35:01 -0700
    Europe stocks lower; Asian equities closed mixed
  • 3G funds may not trim govt borrowing much - Nomura
    Thu, 24 Jun 2010 04:30:26 -0700
    MUMBAI (Reuters) - The government is unlikely to reduce borrowing substantially despite the government's windfall from the recently concluded telecom auctions, a senior market official told Reuters.
  • European Union talks on hedge fund rules collapse
    Thu, 24 Jun 2010 04:20:26 -0700
    BRUSSELS (Reuters) - Talks have collapsed between European lawmakers and country representatives to agree new controls for hedge funds, following a dispute that many fear could spoil Brussels' attempts to overhaul the regulation of finance.
  • BSE Sensex eases 0.1 pct ; Reliance drops
    Thu, 24 Jun 2010 04:00:42 -0700
    MUMBAI (Reuters) - The BSE Sensex gave up morning gains and eased 0.1 percent on Thursday after lower European markets dented sentiment and sparked uncertainty about foreign fund inflows.
  • Business Bullet: Miners, Euro, UK credit, AXA
    Thu, 24 Jun 2010 03:54:14 -0700
    The latest news on: Miners, Euro, UK credit, AXA
  • LNG only option for Indian gas supply hole - GAIL exec
    Thu, 24 Jun 2010 03:50:38 -0700
    LONDON (Reuters) - India will need to import about 36 billion cubic metres (bcm) of gas, most of it liquefied natural gas (LNG) by ship, to meet an expected doubling of demand for gas by 2015 because a plan to import gas by pipeline from Iran is unlikely to become a reality in time, the head of state-run GAIL (India) Ltd said on Thursday.
  • Rains 21 pct below normal; experts still hopeful
    Thu, 24 Jun 2010 03:50:26 -0700
    NEW DELHI (Reuters) - Monsoon rains, vital to the trillion-dollar economy, were 21 percent below normal in the week to June 23, the India Meteorological Department said, reflecting slow progress since the season began in June.
  • Best China Books For Your Summer Reading List: Podcast
    Thu, 24 Jun 2010 03:49:52 -0700
    Readers looking for the best books on Chinese politics, history and contemporary life can end their

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