Thursday, June 10, 2010

Business News - 10 june 2010

  • China Tops India on World Diabetes Ladder
    Thu, 10 Jun 2010 07:50:28 -0700
  • BP shares dive as crisis persists
    Thu, 10 Jun 2010 07:49:38 -0700
    BP shares continue to trade lower as attention turns to the possible impact of the Gulf of Mexico oil spill on the UK's image in the US.
  • US attacks China currency stance
    Thu, 10 Jun 2010 07:48:47 -0700
    Global economic reforms are being impeded by China's refusal to revalue its currency, the US Treasury Secretary says.
  • Triple-digit rally on the Dow
    Thu, 10 Jun 2010 07:40:23 -0700
    U.S. stocks surged at Thursday's open, with the Dow posting triple digit gains, rebounding from a downturn triggered by the energy sector during the final hours of the previous session.
  • UK cuts 'to push jobless to 3m'
    Thu, 10 Jun 2010 07:39:49 -0700
    Government spending cuts will push UK unemployment to almost three million, an employment group has warned.
  • Ongoing jobless claims plummet to 17-month low
    Thu, 10 Jun 2010 07:37:13 -0700
    The number of people filing for ongoing unemployment insurance plummeted by 255,000 to the lowest level since December 2008, according to government figures released Thursday.
  • Geithner says world economy needs China yuan reform
    Thu, 10 Jun 2010 07:37:09 -0700
    WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Thursday that reform of China's exchange rate is "critically important" to the U.S. and global economies and a more flexible yuan was in China's interest.

  • Roubini Urges ECB to Cut Rates to Offset Austerity (Update1)
    Thu, 10 Jun 2010 07:36:00 -0700
    The European Central Bank should slash its benchmark interest rate to zero and expand government bond purchases to offset the recessionary effects of euro-area austerity measures, New York University economist Nouriel Roubini said.
  • Golden Canadian Stock
    Thu, 10 Jun 2010 07:30:10 -0700
    One way to play gold is through mining companies. This Canadian gold stock is worth serious consider
  • After The Gulf: Is Albania The Next Oil Frontier?
    Thu, 10 Jun 2010 07:27:30 -0700
    Despite the risks and potential difficulties, Albania represents a great opportunity for oil investo
  • Oil Refineries Failing to Comply With Safety Rules, OSHA Says
    Thu, 10 Jun 2010 07:25:22 -0700
    U.S. oil companies are failing to comply with federal standards for workers’ safety at refineries, a federal regulator told a Senate hearing called in response to the explosion of a Gulf of Mexico drilling rig leased by BP Plc.
  • Spain labor talks fail
    Thu, 10 Jun 2010 07:24:53 -0700
    MADRID/AMSTERDAM (Reuters) - Marathon negotiations to overhaul Spain's rigid labor market collapsed on Thursday, leaving a fragile government to impose looser hire-and-fire laws without trade union backing in the troubled euro zone state.

  • Wall Street jumps 2 percent in broad rally
    Thu, 10 Jun 2010 07:21:54 -0700
    NEW YORK (Reuters) - Stocks jumped on Thursday, with major indexes rising more than 2 percent in a broad-based bounce following the previous session's sell-off and after confirmation of solid China export data.

  • German Court Rejects Emergency Bid to Block Euro Rescue Fund
    Thu, 10 Jun 2010 07:20:28 -0700
    Germany’s highest constitutional court rejected an attempt by a lawmaker who sought an emergency order blocking the nation from participating in the euro-area rescue fund.
  • U.S. shares in BP rebound after steep selloff
    Thu, 10 Jun 2010 07:19:49 -0700
    NEW YORK (Reuters) - U.S. shares of oil company BP Plc rebounded more than 10 percent in early trade on Thursday, a day after plunging nearly 16 percent on mounting fears about how the company will cope with the massive costs of the oil spill in the Gulf of Mexico.

  • A Big Week For College Football
    Thu, 10 Jun 2010 07:18:08 -0700
    For weeks we've been hearing about the possibility of expansion in the Pac-10, Big 10 and SEC. Now
  • Don't expect energy reform
    Thu, 10 Jun 2010 07:17:28 -0700
    Never let a good crisis go to waste.
  • U.S. Stocks Advance on Optimism About Global Economic Growth
    Thu, 10 Jun 2010 07:17:02 -0700
    U.S. stocks rallied, with the Standard & Poor’s 500 Index erasing yesterday’s decline, as reports from China, Japan and Australia boosted optimism about the global economy.
  • Airbus Delays Debut of A320-Successor Until 2027 (Update1)
    Thu, 10 Jun 2010 07:14:00 -0700
    Airbus SAS may need until 2027 to introduce an all-new single-aisle plane because new materials and engine technologies won’t be ready before then.
  • Revalue Renminbi or Dogs Unleashed, Patterson Says: Tom Keene
    Thu, 10 Jun 2010 07:13:14 -0700
    China has until the end of the month to strengthen its currency before Congressional leaders impose measures to counter what they say is an unfair trade advantage, according to JPMorgan Chase & Co.’s Rebecca Patterson.
  • Banks pressured as Congress reform panel debuts
    Thu, 10 Jun 2010 07:11:49 -0700
    WASHINGTON (Reuters) - Banks faced intensified regulatory reform pressures as a special U.S. congressional panel prepared to hold its first public meeting on Thursday, forcing Democratic leaders to balance on a knife's edge.

  • Geithner Says China Yuan Policy ‘Impediment’ to Global Economy
    Thu, 10 Jun 2010 07:10:19 -0700
    Treasury Secretary Timothy F. Geithner said China’s exchange-rate policy is an impediment to a more balanced global recovery and allowing the yuan to strengthen would benefit Chinese consumers.
  • BT union confirms strike ballot
    Thu, 10 Jun 2010 07:08:37 -0700
    The union representing BT workers confirms it will ballot its members on possible strike action after a new pay offer.
  • World Bank sees 'double-dip' recession for parts of Europe
    Thu, 10 Jun 2010 07:00:49 -0700
    A double-dip recession is possible in several European countries if investors lose faith in efforts to control debt, the World Bank said on Thursday.
  • Stephen Strasburg May Be Underpaid at $15.1 Million Per Season
    Thu, 10 Jun 2010 06:43:47 -0700
    If what happened in the stands on Tuesday night becomes typical of Strasburg's starts at Nationals P
  • Chinese Trade Figures Spark Rally
    Thu, 10 Jun 2010 06:35:28 -0700
    Imports, exports jump in May, cooling concerns that Europe's debt woes are denting the global economy.
  • German utilities biggest polluters in 2009 - report
    Thu, 10 Jun 2010 06:30:27 -0700
    LONDON (Reuters) - German utilities RWE and E.ON were the top greenhouse gas emitters in Europe last year, a report said on Thursday.
  • Let Your Body Do The Talking
    Thu, 10 Jun 2010 06:25:00 -0700
    Every head tilt and hand gesture sends a message.
  • Jobless claim falls but trade gap widens
    Thu, 10 Jun 2010 06:23:16 -0700
    WASHINGTON (Reuters) - The number of workers filing new applications for unemployment insurance fell less than expected last week, while the trade deficit widened slightly in April, pointing to a moderate economic recovery.

  • Tata Consultancy: Europe not delaying client decisions
    Thu, 10 Jun 2010 06:20:48 -0700
    MUMBAI (Reuters) - Tata Consultancy Services , India's top IT services exporter, has not seen any delay in decision making by clients despite the debt crisis in Europe, its chief executive said on Thursday.
  • May inflation seen below 9 pct - adviser
    Thu, 10 Jun 2010 06:20:38 -0700
    MUMBAI (Reuters) - India's wholesale price inflation is likely to drop below 9 percent in May then rise on higher fuel prices before declining from August or September, a top policy adviser said on Thursday.
  • EU 440 bln eur safety net no debt crisis panacea - S&P
    Thu, 10 Jun 2010 06:20:26 -0700
    VIENNA (Reuters) - The European Union's 440 billion euro safety net for debt-ridden euro zone states unable to access capital markets does not solve the bloc's borrowing problems, Standard & Poor's head of European sovereign ratings said.
  • BP shares: the talk from the City
    Thu, 10 Jun 2010 06:11:09 -0700
    BP shares are again under pressure, tumbling 16pc in New York overnight and falling again today in London. Here's the latest talk and rumour from the City on the oil company.
  • Union to strike from June 20 at Arcelor Algeria plant
    Thu, 10 Jun 2010 06:10:48 -0700
    ALGIERS (Reuters) - Workers at ArcelorMittal's Algerian steel plant will go on indefinite strike from June 20 in a dispute over pay, a union leader at the plant told Reuters on Thursday.
  • Orchid Chem to buy drug-marketing firm Karalex
    Thu, 10 Jun 2010 06:10:38 -0700
    MUMBAI (Reuters) - Orchid Chemicals & Pharmaceuticals said on Thursday it has entered into an agreement to acquire U.S.-based Karalex Pharma Llc for an undisclosed amount.
  • Spain labour talks fail; Zoellick breaks taboo
    Thu, 10 Jun 2010 06:10:26 -0700
    MADRID/AMSTERDAM (Reuters) - Marathon negotiations to overhaul Spain's rigid labour market collapsed on Thursday, leaving a fragile government to impose looser hire-and-fire laws without trade union backing in the troubled euro zone state.
  • StanChart India debut seen tracking London shares
    Thu, 10 Jun 2010 06:00:48 -0700
    MUMBAI (Reuters) - British lender Standard Chartered's Indian depositary receipts, the first of their kind in Asia's third-largest economy, are likely to track the bank's London shares on their market debut on Friday.
  • China commodities demand slows despite export pickup
    Thu, 10 Jun 2010 06:00:38 -0700
    HONG KONG/SHANGHAI (Reuters) - China's imports of industrial commodities slowed in May despite a leap of almost 50 percent in the country's overall export figures, which global markets took as an encouraging signal about the state of the global economy.
  • Budget 2010: what are George Osborne's options in this emergency?
    Thu, 10 Jun 2010 05:48:02 -0700
    The challenge for George Osborne's first Budget in 12 days is to find measures that will convincingly eliminate the structural deficit while at the same time giving the country a reasonable chance of economic growth.
  • SEC examining Goldman Sachs' Hudson deals: report
    Thu, 10 Jun 2010 05:42:40 -0700
    NEW YORK (Reuters) - The U.S. Securities and Exchange Commission, which charged Goldman Sachs Group Inc with fraud in April, is investigating another mortgage-linked deal once pitched by the Wall Street firm, the Financial Times reported, citing people close to the matter.

  • OFT to examine investment bank fees
    Thu, 10 Jun 2010 04:55:27 -0700
    The Office of Fair Trading (OFT) is to investigate the fees charged by investment banks for arranging initial public offerings and rights offers.
  • Apple faces antitrust scrutiny: report
    Thu, 10 Jun 2010 04:53:49 -0700
    (Reuters) - U.S. antitrust regulators plan to investigate whether Apple is unfairly restricting rivals such as Google from carrying ads on the iPhone, iPad and iPod, the Financial Times said.

  • Indian stocks end higher, auto and metals surge
    Thu, 10 Jun 2010 04:36:17 -0700
    Indian stock markets ended with smart gains on Thursday, led by gains from auto, metal and realty sectors on back of positive global cues.
  • Investment advice: taking a risk with banks
    Thu, 10 Jun 2010 04:30:40 -0700
    Jupiter's Guy de Blonay on how to make money in volatile markets.
  • Bank of England keeps rates low as Government spending cuts loom
    Thu, 10 Jun 2010 04:21:23 -0700
    The Bank of England held interest rates at a record low of 0.5pc on Thursday as it seeks to offset painful Government spending cuts.

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