Tuesday, June 8, 2010

Business News - 08,June 2010

  • Asian Stocks Rise as Bernanke Eases Economic Growth Concerns
    Tue, 08 Jun 2010 03:25:00 -0700
    Asian stocks rose for the first time in three days after comments from Ben S. Bernanke, the chairman of the U.S. Federal Reserve, eased investor concerns over the strength of the global economy.
  • Rethinking the risk of stocks
    Tue, 08 Jun 2010 03:25:00 -0700
    Just when you thought it was safe to go back into the water again, stocks surged some 75% from their March 2009 lows to the end of April -- boom! The market started going haywire, plummeting 12% from the beginning of May through yesterday's close.
  • Obama 'would sack' BP's Hayward
    Tue, 08 Jun 2010 03:24:23 -0700
    US President Barack Obama sharpens his criticism of BP chief executive Tony Hayward over the massive Gulf of Mexico oil spill.
  • EU supports more budget scrutiny
    Tue, 08 Jun 2010 03:24:15 -0700
    EU finance ministers move closer to allowing other nations to study their budgets before they're seen by national parliaments.
  • Bernanke: Recovery 'won't feel terrific'
    Tue, 08 Jun 2010 03:23:23 -0700
    Federal Reserve Chairman Ben Bernanke says he expects a continuing economic recovery - "but it won't feel terrific."
  • What commercial real estate crash?
    Tue, 08 Jun 2010 03:22:43 -0700
    During the long years of the financial crisis, the American economy has been like a retelling of the Somerset Maugham story "Appointment in Samarra," in which a man unsuccessfully runs from city to city in attempts to avoid a run-in with Death -- who, of course, is one step ahead of him. Similarly, investors have now spent years dodging disaster in one area of the markets, only to find their investments coming to a bad end elsewhere.
  • Tesco’s Leahy to Retire in 2011; Clarke to Become CEO (Update1)
    Tue, 08 Jun 2010 03:19:00 -0700
    Tesco Plc, the largest U.K. retailer, said Chief Executive Officer Terry Leahy will step down in March after 14 years in the position. Phil Clarke, the head of the company’s operations in Asia and Europe, will succeed him.
  • Premier League wages on the rise
    Tue, 08 Jun 2010 03:18:57 -0700
    Soaring wages are threatening the stability of Premier League clubs, a report into football finances says.
  • How Chinese Businesses Can Reach Global Consumers
    Tue, 08 Jun 2010 03:16:46 -0700
    Alan Tien, GM of PayPal China, analyzes the growth of e-commerce.
  • French trader Kerviel trial opens
    Tue, 08 Jun 2010 03:11:21 -0700
    The trial of Jerome Kerviel, an alleged "rogue trader" blamed by Societe Generale for 4.9bn euros in losses, begins in Paris.
  • Stocks set to bounce off 7-month lows
    Tue, 08 Jun 2010 03:10:23 -0700
    U.S. stocks were ready to bounce up from 7-month lows at Tuesday's open as investors seemed ready to take a breather from their worrying about global economic conditions.
  • Cameron Must Deepen Cuts in ‘Formidable’ Debt Task, Fitch Says
    Tue, 08 Jun 2010 03:10:13 -0700
    British Prime Minister David Cameron needs to accelerate budget-deficit cuts to protect the nation’s top credit rating, Fitch Ratings suggested. The pound fell and U.K. stocks declined.
  • EDF May Get Limited Power Law Boost as Legislators Cap Prices
    Tue, 08 Jun 2010 03:06:35 -0700
    Electricite de France SA investors who bought into the prospect that easing the government’s grip on the French power market would be a boon to the former monopoly may end up disappointed.
  • Gold Advances to a Record in New York, London on Haven Demand
    Tue, 08 Jun 2010 03:06:00 -0700
    Gold rose to a record in London and New York as investors sought an alternative to currencies amid mounting concern over Europe’s debt crisis.
  • Zapatero Faces Down Strike as Wage Cuts Rile Allies (Update2)
    Tue, 08 Jun 2010 03:05:00 -0700
    Spanish civil servants went on strike in the largest walkout since Prime Minister Jose Luis Rodriguez Zapatero came to power as efforts to tame the euro area’s third- largest deficit riled the Socialist premier’s core supporters.
  • EU mobile charges cap is legal
    Tue, 08 Jun 2010 03:03:16 -0700
    A cap on European mobile phone charges will stay in place after a legal challenge by major phone giants against the EU failed.
  • IPOs Stage A Comeback
    Tue, 08 Jun 2010 03:00:00 -0700
    Emerging markets in Asia, Latin America and Eastern Europe are driving growth.
  • Beyond Buzzwords
    Tue, 08 Jun 2010 03:00:00 -0700
    Blue Coat's CIO says you have to push vendors to be specific.
  • Leave BP Alone
    Tue, 08 Jun 2010 03:00:00 -0700
    When government tries to eliminate risk, it often creates even more.
  • Former Palm CIO Devoted To iPhone
    Tue, 08 Jun 2010 03:00:00 -0700
    Marina Levinson likes the apps.
  • Turning Body Heat Into Electricity
    Tue, 08 Jun 2010 03:00:00 -0700
    Developments in nano-engineering could unleash new body-powered devices.
  • The Over-Committed CTO
    Tue, 08 Jun 2010 03:00:00 -0700
    They have themselves to blame for being overworked and behind schedule.
  • IPOs Stage A Comeback
    Tue, 08 Jun 2010 03:00:00 -0700
    Emerging markets in Asia, Latin America and Eastern Europe are driving growth.
  • Philip Clarke: the new man at the top of Tesco
    Tue, 08 Jun 2010 02:57:42 -0700
    Philip Clarke will be taking the helm at Tesco following chief executive Sir Terry Leahy's surprise decision to step down.
  • NEWSMAKER - China soldier-turned-banker takes aim at mega IPO
    Tue, 08 Jun 2010 02:50:27 -0700
    BEIJING (Reuters) - Xiang Junbo is a war hero and award-winning scriptwriter. He's also chairman of China's third-largest bank, founded by Mao Zedong, and had hoped to be launching the world's biggest-ever initial public offering.
  • Stock futures pare gains as Europe shares sag
    Tue, 08 Jun 2010 02:43:28 -0700
    PARIS (Reuters) - Stock index futures pared early gains on Tuesday, pointing to a mixed open as lingering fears over Europe's debt crisis hit the region's stocks and eclipsed soothing comments from Fed Chairman Ben Bernanke.

  • Rupee trims gains as shares fall; dollar eyed
    Tue, 08 Jun 2010 02:40:26 -0700
    MUMBAI (Reuters) - The rupee trimmed early gains by Tuesday afternoon, tracking a choppy domestic sharemarket but the dollar's losses against major currencies helped sentiment.
  • BSE Sensex extends losses to 1 pct
    Tue, 08 Jun 2010 02:30:48 -0700
    MUMBAI (Reuters) - The BSE Sensex reversed early gains and extended losses to 1 percent on Tuesday afternoon as European shares fell further on lingering euro zone debt woes.
  • Bharti Airtel says closes $9 bln Zain Africa deal
    Tue, 08 Jun 2010 02:30:38 -0700
    NEW DELHI (Reuters) - Bharti Airtel said on Tuesday it had closed its $9 billion African asset purchase from Kuwait's Zain.
  • HP Looks To Change The Way We Print
    Tue, 08 Jun 2010 02:30:20 -0700
    HP has announced a major new initiative and a slew of new devices that enable users to print from an
  • Swiss-U.S. deal on UBS delayed by lower house vote
    Tue, 08 Jun 2010 02:27:44 -0700
    BERNE (Reuters) - Switzerland's delivery of UBS client data to U.S. tax officials has been delayed after the Swiss lower house rejected the Swiss-U.S. deal to solve a tax row, triggering a new parliamentary debate.

  • FOCUS - Drugmakers set to sell H1N1 vaccine but margins dicey
    Tue, 08 Jun 2010 02:10:38 -0700
    MUMBAI (Reuters) - Almost a year after India reported its first swine flu death in August 2009, four Indian drugmakers are set to compete for an estimated 30-billion-rupee indigenous H1N1 vaccine market in the country.
  • Global emerging market stocks, Europe equity see inflows - EPFR
    Tue, 08 Jun 2010 02:10:27 -0700
    HONG KONG (Reuters) - Money slowly flowed last week back into areas of the market hit hard by the European sovereign debt crisis, with emerging market stocks and global bonds among the benefiting asset classes, EPFR Global said on Tuesday.
  • Lloyds Banking Group, RBS, Barclays and HSBC shares drop on FTSE 100 despite eurozone reassurances
    Tue, 08 Jun 2010 02:09:41 -0700
    Shares in British banks were down on the FTSE 100 despite attempts by policy makers to ease fears about sovereign debt in the eurozone.
  • Asian stocks up on Bernanke remarks
    Tue, 08 Jun 2010 02:03:18 -0700
    Asian stock markets ended with marginal gains on Tuesday, after Federal Reserve Chairman Ben Bernanke said that the U.S. economy is moving at a “moderate” pace.
  • Murli Deora bats for fuel reforms, ally opposes
    Tue, 08 Jun 2010 02:00:31 -0700
    NEW DELHI (Reuters) - Oil Minister Murli Deora said on Tuesday lifting fuel price controls would not hurt people, but a key government ally opposed the move, signalling potential delay in implementing the reform seen needed to improve public finances.
  • Euro, global markets rise as investor panic abates
    Tue, 08 Jun 2010 01:09:40 -0700
    Europe's main stock markets rebounded slightly at the start of trading on Tuesday, with London's FTSE 100 index rising 0.14pc to stand at 5,076.06 points.
  • World shares and euro gain after recent losses
    Tue, 08 Jun 2010 00:58:59 -0700
    Financial markets stuck to their recent script on Tuesday, following a day of volatility with modest equities gains and a small lift for the euro.
  • WH Smith sales hit by ash cloud travel disruption
    Tue, 08 Jun 2010 00:56:41 -0700
    WH Smith has posted a fall in third-quarter sales as travel disruption due to the Icelandic volcanic ash cloud impacted the retailer's airport business.
  • New strike breaks out at Honda supplier in China
    Tue, 08 Jun 2010 00:45:42 -0700
    HONG KONG/TOKYO (Reuters) - A new strike has broken out at a factory producing exhaust systems for Honda Motor's Chinese car factories, just days after a strike at another Honda supplier in the same city was settled.

  • iPhone maker Foxconn seeks price hikes to offset wages
    Tue, 08 Jun 2010 00:34:20 -0700
    TAIPEI/HONG KONG (Reuters) - iPhone maker Foxconn International Holdings said it will seek higher prices from its clients to help offset wage hikes at a plant in southern China that has been hit by a series of suicides.

  • Rockhopper plans £48.5m share placing after Falklands oil find
    Tue, 08 Jun 2010 00:23:15 -0700
    British oil explorer Rockhopper said it will raise £48.5m in a fully-underwritten placing to help it exploit larger-than-expected reserves at its Sea Lion well in the Falklands.
  • Japan bank lending in biggest annual fall in 5 years
    Tue, 08 Jun 2010 00:07:49 -0700
    TOKYO (Reuters) - Japanese bank lending marked its biggest annual fall in nearly five years in May, falling 2 percent as companies remained wary of boosting capital spending even as the economy recovers and the central bank keeps monetary policy loose.

  • Tesco chief executive Sir Terry Leahy to retire
    Tue, 08 Jun 2010 00:02:42 -0700
    Sir Terry Leahy, the chief executive of Tesco, is stepping down after more than a decade spent turning the group into Britain's biggest supermarket.
  • Business Bullet: US, Brics, SocGen, WH Smith
    Mon, 07 Jun 2010 23:56:43 -0700
    The latest news on: US, Brics, SocGen, WH Smith

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