Monday, June 14, 2010

Business News - 14 June 2010

  • Where Are The Taxpayers' $7 Million Retirement Funds?
    Mon, 14 Jun 2010 10:28:44 -0700
    Where Are The Customers' Yachts? is a classic investment book. It was written by Fred Schwed Jr. yea
  • Soccer Done Right
    Mon, 14 Jun 2010 10:22:35 -0700
    Rule changes borrowed from basketball and hockey can transform a flawed game.
  • Moody's cuts Greece government ratings to junk
    Mon, 14 Jun 2010 10:19:01 -0700
    NEW YORK (Reuters) - Moody's Investors Service on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country.

  • Spirit Air cancels more flights
    Mon, 14 Jun 2010 10:15:57 -0700
    NEW YORK/WASHINGTON (Reuters) - A pilots' strike at Spirit Airlines prompted the carrier on Monday to extend flight cancellations through mid-week, with shares of rivals moving higher on prospects of more business.

  • BP's beaten up stock keeps falling
    Mon, 14 Jun 2010 10:15:48 -0700
    BP's stock dropped more than 7% Monday morning -- the 56th day of the oil spill - as the oil giant geared up for another brutal week in the Gulf and on the Hill.
  • Indexes trim gains after Greece downgrade
    Mon, 14 Jun 2010 10:15:08 -0700
    NEW YORK (Reuters) - Stocks trimmed some of their gains in early afternoon trading on Monday as Moody's downgraded Greece.

  • BP Slips, Again
    Mon, 14 Jun 2010 10:15:00 -0700
    Spill-driven volatility won't abate soon, but long-term outlook still strong.
  • Iceland to Win EU Backing to Start Talks, Draft Says (Update1)
    Mon, 14 Jun 2010 10:15:00 -0700
    European Union governments are set to start membership talks with Iceland, as the North Atlantic island recovers from the financial crisis of 2008, a draft statement said.
  • Germany wary of French EU vision
    Mon, 14 Jun 2010 10:09:08 -0700
    The French and German leaders are meeting to try to smooth over rifts on economic policy only days ahead of an EU summit.
  • Hackers say iPad has more security holes
    Mon, 14 Jun 2010 10:08:30 -0700
    A day after AT&T fessed up to its iPad 3G customers about a security breach, the hackers that exploited the vulnerability in AT&T's website said there are still lurking security problems related to the iPad.
  • Chavez’s Popularity Rises on Crackdown as Economic Woes Mount
    Mon, 14 Jun 2010 10:06:08 -0700
    Venezuelan President Hugo Chavez’s popularity rose last month from a seven-year low after he arrested brokerage directors and expropriated food distributors that he blamed for double-digit inflation amid a recession.
  • Fed will take its time before exit: SF Fed paper
    Mon, 14 Jun 2010 10:06:04 -0700
    WASHINGTON (Reuters) - The U.S. Federal Reserve's exit from its ultra-low interest rate policy will take a "significant period" of time, a San Francisco Fed economist said in a paper published on Monday.

  • Oil spill is 'environment's 9/11'
    Mon, 14 Jun 2010 10:05:32 -0700
    US President Barack Obama says the oil disaster in the Gulf of Mexico will have the same impact on the US psyche as 9/11.
  • Oil Spill Winners: Alternative Energy ETFs
    Mon, 14 Jun 2010 10:03:09 -0700
    Green energy and Alternative ETFs will be a big beneficiary of BP's Gulf disaster. Here's a rundown.
  • BP Submits Capture Plan
    Mon, 14 Jun 2010 10:02:00 -0700
    BP Plc sent a revised oil-capture plan to the Obama administration, meeting a U.S. deadline, as President Barack Obama demands an escrow account for damages claims related to the worst environmental disaster in the nation’s history.
  • Head of J&J Unit Said to Have Urged Motrin Buyback (Update1)
    Mon, 14 Jun 2010 10:01:00 -0700
    Johnson & Johnson’s McNeil Consumer Healthcare president recommended a recall of faulty Motrin pills without notifying regulators or consumers, according to a person familiar with a congressional probe of the company.
  • Stocks, Oil Rally on Economic Optimism; Treasuries Retreat
    Mon, 14 Jun 2010 10:00:00 -0700
    Stocks rose for a fifth day, the longest streak since October for the MSCI World Index, and commodities rallied as growth in European industrial production added to signs the global economic rebound is strengthening. The euro appreciated, the yen weakened and Treasuries fell.
  • Asda apologies for online error
    Mon, 14 Jun 2010 09:58:31 -0700
    Supermarket group Asda apologises after mistakenly offering a £75 discount to shoppers using its website.
  • One oil stock that may be worth buying - The Buzz
    Mon, 14 Jun 2010 09:58:10 -0700
    Brazil is one of the favorites to win the World Cup. It may also be an investor favorite in the hard hit oil sector.
  • Senate’s Lincoln Considers Compromise on Swaps-Desk Provision
    Mon, 14 Jun 2010 09:52:16 -0700
    Senator Blanche Lincoln is considering compromise language to her derivatives proposal that would phase in over two years a requirement that commercial banks push out their swaps trading desks to subsidiaries.
  • Ex-Goldman Risk Head Weinstein Said to Start Fund (Update1)
    Mon, 14 Jun 2010 09:52:00 -0700
    Gregg Weinstein, a former global head of risk management for Goldman Sachs Group Inc.’s investment management division, is establishing RocWood Capital Management LP, an event-driven hedge fund.
  • Vale Reducing China Dependence Means Lower Debt Costs (Update2)
    Mon, 14 Jun 2010 09:50:00 -0700
    Vale SA, the world’s largest iron- ore producer, is driving borrowing costs relative to BHP Billiton Ltd. down from a one-month high by reducing its dependence on China.
  • Wall St's last stand in closed-door horse-trading
    Mon, 14 Jun 2010 09:47:01 -0700
    WASHINGTON (Reuters) - Wall Street is making a last stand against regulatory reform in behind-the-scenes meetings in Congress, where lobbyists hope to use high-stakes horse trading to blunt provisions that could cost the industry billions of dollars.

  • Donate to Gulf cleanup, wisely
    Mon, 14 Jun 2010 09:46:13 -0700
    TV and newspaper images of oil-drenched beaches and wildlife may have you reaching into your wallet to help. Here's how to make sure you're getting the most out of your charity dollars.
  • What Obama And The U.S. Need To Learn From Canada
    Mon, 14 Jun 2010 09:45:17 -0700
    To start with, it has a healthy financial system and affordable higher education.
  • Chasing Profits In JPMorgan Could Be Fun With Options Expiring
    Mon, 14 Jun 2010 09:42:24 -0700
    JPMorgan has been stuck in a descending channel since mid-April. One thing to remember though, is t
  • Stocks Surge As Europe Bucks The Trend
    Mon, 14 Jun 2010 09:35:00 -0700
    After months of nothing but bad news from across the pond, solid economic data provides a respite Monday.
  • The Great Northern Beer Adventure
    Mon, 14 Jun 2010 09:30:34 -0700
    Chris Bowen is traveling 4,000 miles to brew a 158-year-old beer in the Canadian Arctic.
  • FASB Desperately Needs Oversight
    Mon, 14 Jun 2010 09:26:18 -0700
    Its proposal to extend mark-to-market accounting will wreak havoc on small businesses.
  • Pension Pay Day
    Mon, 14 Jun 2010 09:22:16 -0700
    Would Senator Bob Casey's proposed $165 billion bailout of union pension plans boost the economy?
  • Pension Pay Day
    Mon, 14 Jun 2010 09:22:16 -0700
    Would Senator Bob Casey's proposed $165 billion bailout of union pension plans boost the economy?
  • The "True" Legend of Canute
    Mon, 14 Jun 2010 09:18:52 -0700
    The correct version of the legend of King Canute has a lesson for those who believe a financial refo
  • Cablevision, Mosaic On The Acquisition Trail
    Mon, 14 Jun 2010 09:15:00 -0700
    Cable operator scoops up Bresnan Communications. Fertilizer firm said to be considering a deal in Mexico.
  • Merger Monday: Cablevision Buys Bresnan, Mosaic in Talks for Mexican Fertilizer Firm
    Mon, 14 Jun 2010 09:10:00 -0700
    Cablevision Systems Corporation (CVC) announced Monday it has signed a definitive agreement with Bresnan
  • Stadium Brands Boost Boxing
    Mon, 14 Jun 2010 09:09:34 -0700
    The success of boxing matches at Yankee Stadium and Cowboys Stadium will mean more outdoor fisticuff
  • US copper rises above $3/lb on recovery optimism
    Mon, 14 Jun 2010 09:04:45 -0700
    U.S. copper futures climbed back above the key $3.00 per lb level Monday morning, as renewed optimism about the global economic recovery fed greater investor demand for risk.
  • Juhayna stock seen rising up to 18 percent on debut
    Mon, 14 Jun 2010 09:03:46 -0700
    Shares in Egyptian dairy and juice maker Juhayna Food Industries (JUFO.CA) may trade as much as 18 percent above their IPO price on Tuesday, analysts said.
  • CGT: 17,000 sign petition against capital gains tax rise
    Mon, 14 Jun 2010 09:02:31 -0700
    More than 17,000 Telegraph readers have signed a petition urging George Osborne, the Chancellor, to scrap plans to increase the capital gains tax rate.
  • Traffic Data Shows Facebook Privacy Concerns Officially Dead
    Mon, 14 Jun 2010 09:01:09 -0700 numbers show that the "quit Facebook" movement is kaput.
  • Nigeria oil hub risks unrest if Jonathan unable to run
    Mon, 14 Jun 2010 08:50:08 -0700
    Residents in Nigeria's oil-producing Niger Delta fear unrest if President Goodluck Jonathan, the first politician from their region to hold the country's highest office, is prevented from seeking re-election.
  • Euro hits session high vs dollar as stocks gain
    Mon, 14 Jun 2010 08:36:59 -0700
    The euro advanced further to hit a session high against the U.S. dollar in late morning trade on Monday as stock gains accelerated, boosting risk appetite.
  • Sara Lee CEO had stroke; update set by August 12
    Mon, 14 Jun 2010 08:11:33 -0700
    CHICAGO (Reuters) - Sara Lee Corp chief Brenda Barnes is recovering from a stroke that prompted her to abruptly take medical leave last month, and the company said it would update investors on her condition and plans by August 12.

  • BP falls 10 percent on dividend worries
    Mon, 14 Jun 2010 08:06:06 -0700
    LONDON (Reuters) - Oil giant BP extended falls and was down more than 10 percent on Monday afternoon, with traders citing worries about its dividend, as it faces a massive bill to clean up an oil spill in the Gulf of Mexico.

  • Oil spill: BP tumbles 10pc as Moody's raises fears for Gulf of Mexico oil companies
    Mon, 14 Jun 2010 07:56:08 -0700
    BP stock hit after credit rating agency said the US's worst oil spill has created a crisis for Gulf of Mexico operators.
  • Moody's see unprecedented oil spill crisis
    Mon, 14 Jun 2010 07:48:27 -0700
    NEW YORK (Reuters) - The worst oil spill in U.S. history has created an unprecedented financial, legal, regulatory and environmental crisis for companies that operate in the Gulf of Mexico, Moody's Investors Service said on Monday.

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