Monday, July 12, 2010

Business - 12 July 2010

  • Larry Page Says Steve Jobs "Rewriting History"
    Mon, 12 Jul 2010 06:42:44 -0700
    Google founder Larry Page says Steve Jobs is "rewriting history" when it comes to the iPhone-Android
  • U.S. Stocks, Copper Drop; Euro Weakens, Treasuries Rise
    Mon, 12 Jul 2010 06:42:00 -0700
    U.S. stocks fell, with the Standard & Poor’s 500 Index snapping a four-day rally, as investors awaited the start of earnings season and a third month of declining Chinese imports drove down copper. The euro weakened and Treasuries rose.
  • Weyerhaeuser Declares Record $5.6 Billion Dividend
    Mon, 12 Jul 2010 06:42:00 -0700
    Weyerhaeuser Co., the second-largest owner of U.S. timberland, declared a record $5.6 billion special dividend to lock in the company’s conversion this year to a real estate investment trust.
  • Avon to Buy Jewelry Seller Silpada for $650 Million (Update1)
    Mon, 12 Jul 2010 06:40:13 -0700
    Avon Products Inc., the world’s largest door-to-door cosmetics seller, agreed to buy jewelry company Silpada Designs Inc. for at least $650 million in cash to broaden its line of products.
  • U.S. Stocks Retreat as Alcoa, Apache Decline; Hewitt Rallies
    Mon, 12 Jul 2010 06:37:00 -0700
    U.S. stocks fell, with the Standard & Poor’s 500 Index retreating after its biggest weekly rally in a year, as investors awaited the start of the second-quarter earnings season.
  • BP May Stop Flow From Leaking Well After Test Today
    Mon, 12 Jul 2010 06:37:00 -0700
    BP Plc may stop the flow of crude from its leaking Gulf of Mexico well, source of the biggest oil spill in U.S. history, beginning with a pressure test today.
  • ECB gives backing to Greek bank fund plans
    Mon, 12 Jul 2010 06:36:07 -0700
    FRANKFURT (Reuters) - The European Central Bank gave its backing on Monday to Greek plans for a 10 billion euro aid package to support the country's banks.

  • Three Things To Remember During The Avandia Panel
    Mon, 12 Jul 2010 06:30:15 -0700
    A few things to keep in mind before tomorrow's meeting.
  • BP shares rise on asset sale talk
    Mon, 12 Jul 2010 06:28:06 -0700
    BP shares rise sharply on speculation it may have buyers for asset sales needed to fund the Gulf of Mexico clean-up.
  • EU plans to toughen investor protection
    Mon, 12 Jul 2010 06:27:42 -0700
    BRUSSELS (Reuters) - Account holders in the European Union who are faced with a run on their bank would get their money back within a week under a draft EU law published on Monday to protect consumers in the wake of the global crisis.

  • Aon Corp to buy Hewitt for about $4.9 billion
    Mon, 12 Jul 2010 06:25:23 -0700
    BANGALORE, (Reuters) - Aon Corp , the world's largest insurance brokerage, said it will acquire human-resource service company Hewitt Associates Inc for about $4.9 billion in cash and stock to beef up its consulting business.

  • UAE's Shah gas project 40-50 percent cheaper than expected
    Mon, 12 Jul 2010 06:15:32 -0700
    ABU DHABI (Reuters) - Contracts for the UAE's $10 billion Shah gas project were 40-50 percent cheaper than expected, the chief executive of the Abu Dhabi Gas Development Company (ADGDC) said on Monday, after economic crisis made firms cut prices.

  • Aon Corp to buy Hewitt for about $4.9 bln
    Mon, 12 Jul 2010 06:10:26 -0700
  • Stocks set for lower open
    Mon, 12 Jul 2010 06:09:15 -0700
    U.S. stocks were poised for a weak open Monday as anxiety about corporate profits weighed on investors.
  • CEOs Questioning Obama Policies Put on Boards
    Mon, 12 Jul 2010 06:09:00 -0700
    Last month, Verizon Communications Inc. Chairman Ivan Seidenberg accused the federal government of “injecting uncertainty into the marketplace.” Last week, he was named to a presidential panel on U.S. exports.
  • Playboy Says Hefner Proposes to Take Company Private
    Mon, 12 Jul 2010 06:08:00 -0700
    Playboy Enterprises Inc., publisher of the namesake men’s magazine, said founder Hugh Hefner proposed taking the company private by buying the outstanding shares he doesn’t already own.
  • Stocks to open lower on Europe fears but M&A helps
    Mon, 12 Jul 2010 06:05:22 -0700
    NEW YORK (Reuters) - Stock index futures pointed to a lower open on Monday as investors remained concerned about Europe's fiscal issues and financial sector, though some merger and acquisition news helped limit losses.

  • America's Best Places to Live
    Mon, 12 Jul 2010 06:03:36 -0700
    If you focus only on the averages, life in the typical American town frankly doesn't seem so hot right now. The median home continues to lose value. Cash-strapped state and local governments are cutting services. And unemployment, at 9.3%, is still high.
  • Canadian employment rises sharply
    Mon, 12 Jul 2010 06:02:08 -0700
    Canada's employment levels surged by 93,200 in June, a far higher figure than analysts had expected.
  • China's property market falters
    Mon, 12 Jul 2010 05:58:00 -0700
    China's frothy property market may have peaked after a government clampdown on speculators, data shows.
  • Futures mildly lower ahead of Q2 Earnings
    Mon, 12 Jul 2010 05:57:53 -0700
    Wall Street is taking a breather after last week's furious rally as futures on U.S. stock indices have dipped slightly ahead of the opening.
  • BP stock rallies on sales talk
    Mon, 12 Jul 2010 05:56:03 -0700
    BP's stock continued to run higher Monday, rising more than 3% in pre-market trading, after reports that the company or some of its assets may be sold off.
  • Bhushan Steel board OKs 5-for-1 stock split
    Mon, 12 Jul 2010 05:40:39 -0700
    MUMBAI (Reuters) - Secondary steel maker Bhushan Steel Ltd said on Monday its board has approved a 5-for-1 stock split.
  • Green steps 'hurting fuel poor'
    Mon, 12 Jul 2010 05:38:07 -0700
    People in fuel poverty face being unfairly hit by the costs of green measures such as cutting carbon emissions, a report says.
  • Google Working On Secret New Ad Format: "Interactive Video Ads"
    Mon, 12 Jul 2010 05:30:24 -0700
    Google is still casting around trying to find another revenue stream that will carry the company now
  • How America got stuck with BP
    Mon, 12 Jul 2010 05:22:06 -0700
    BP is the largest oil producer in the United States, pumping almost as much crude as Exxon Mobil, Chevron and ConocoPhillips combined.
  • UniCredit in talks on 20 billion euro bank rescue fund
    Mon, 12 Jul 2010 05:07:01 -0700
    MILAN (Reuters) - Some of Europe's biggest banks are in talks over a proposal by Italy's UniCredit SpA to create a 20 billion euros ($25.2 billion) private sector fund to help failing lenders, a source close to the issue said on Monday.

  • Gold retreats as dollar firms, investment wanes
    Mon, 12 Jul 2010 05:05:03 -0700
    Gold slipped in Europe on Monday
  • Sterling extends losses after tepid UK data
    Mon, 12 Jul 2010 05:01:01 -0700
    Sterling fell to multi-week lows against the dollar and euro on Monday as concerns about Britain's economy mounted after lacklustre data.
  • World stocks off two-week high; earnings eyed
    Mon, 12 Jul 2010 05:00:26 -0700
    LONDON (Reuters) - World stocks slipped after hitting a two-week peak on Monday while the euro fell broadly as investors grew cautious ahead of a slew of key U.S. corporate earnings and details of tests on European banks' financial health.
  • LeBron James Gets China
    Mon, 12 Jul 2010 04:58:00 -0700
    LeBron's decision to go to Miami was a signal that he understands the Chinese sports fan as well.
  • Jaypee Infratech June qtr net profit at 3.95 bln rupees
    Mon, 12 Jul 2010 04:50:26 -0700
    MUMBAI (Reuters) - Road builder Jaypee Infratech Ltd posted a net profit of 3.95 billion rupees on net sales of 5.97 billion rupees for the quarter ended June 30.
  • Santander to buy SEB's German retail banking unit
    Mon, 12 Jul 2010 04:40:48 -0700
    MADRID (Reuters) - Spain's Santander consolidated its full service operation in Germany with the acquisition of the retail banking division of Sweden's SEB , the bank said on Monday.
  • Titagarh Wagons buys French co in first overseas buy
    Mon, 12 Jul 2010 04:40:38 -0700
    MUMBAI (Reuters) - Rail wagon maker Titagarh Wagons Ltd is eyeing more overseas acquisitions after its first buy in France as it looks to tap newer markets, a top official told Reuters on Monday.
  • Asia faces risks from rising capital flows: IMF
    Mon, 12 Jul 2010 04:28:14 -0700
    DAEJEON, South Korea (Reuters) - Asia has emerged as a global economic powerhouse but is now faced with policy challenges from rising capital inflows, the International Monetary Fund chief said on Monday.

  • Blackstone to manage BofA's Asia property fund: sources
    Mon, 12 Jul 2010 04:26:59 -0700
    NEW YORK/SINGAPORE (Reuters) - Blackstone Group will manage a $2-billion-plus Asian real estate fund of Bank of America-Merrill Lynch, in a deal that will close in the third quarter, sources familiar with the situation told Reuters.

  • Lawsuit against Apple, AT&T can remain as class action: report
    Mon, 12 Jul 2010 04:25:49 -0700
    (Reuters) - A monopoly abuse lawsuit against Apple Inc and AT&T Inc's mobile-phone unit can continue as a class action against the two companies, the Associated Press reported, citing a federal judge.

  • BSE Sensex cheers earnings optimism; Infosys at record
    Mon, 12 Jul 2010 04:20:26 -0700
    MUMBAI (Reuters) รข€“ The BSE Sensex rose for the third straight session and closed at its highest in more than three months on Monday, riding on the wave of earnings optimism as the season kicks off on Tuesday.
  • Uco Bank sees 33.4 pct rise FY11 net profit
    Mon, 12 Jul 2010 04:10:38 -0700
    KOLKATA (Reuters) - State-run lender, Uco Bank expects to post a net profit of 13.5 billion rupees in FY11, Executive Director Ajai Kumar said at shareholders meeting on Monday.
  • India gold may extend losses for 4th week
    Mon, 12 Jul 2010 04:10:26 -0700
    MUMBAI (Reuters) - India gold futures may extend losses for a fourth straight week weighed by expectations of a firm dollar overseas and reduced bids for the safe-haven metal in the face of an easing euro-zone crisis, analysts said.
  • EU plans to toughen up investor protection
    Mon, 12 Jul 2010 04:00:26 -0700
    BRUSSELS (Reuters) - Account holders in the European Union faced with a run on their bank would get their money back within a week under a draft EU law published on Monday to beef up consumer protection.
  • Japan ruling party defeat spells trouble for BOJ
    Mon, 12 Jul 2010 03:40:26 -0700
    TOKYO (Reuters) - The policy deadlock in Japan resulting from the ruling party's drubbing in upper house elections raises obvious concerns for Prime Minister Naoto Kan.
  • US futures point to lower opening
    Mon, 12 Jul 2010 03:21:04 -0700
    Futures on U.S. stock indices point to a lower opening on Monday ahead of the start of the earnings season.
  • Australian Stock Market Report - Closing
    Mon, 12 Jul 2010 03:20:54 -0700
    The first day of the new trading week saw stocks finishing slightly higher with the All Ordinaries index (XAO) rising by 0.3pct or 15pts to 4429.5.
  • E.U. Adopts New Executive Pay Standards
    Mon, 12 Jul 2010 03:00:00 -0700
    The Capital Requirements and Bonuses Package could further transform the bonus culture at European banks.

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