Wednesday, July 28, 2010

Business - 28 July 2010

  • Employers get tough on insuring 'family'
    Wed, 28 Jul 2010 07:26:59 -0700
    Think your whole family is covered by your company health plan? Get ready to prove they're actually your kin.
  • India's Reliance Industries, Essar Oil in race to buy BP's east African assets
    Wed, 28 Jul 2010 07:26:07 -0700
    India’s Reliance Industries Ltd, run by billionaire Mukesh Ambani-and Essar Oil are among a host of companies in the race to buy beleaguered British oil giant BP Plc’s fuel marketing assets in east African countries of Botswana, Tanzania, Namibia, Malawi and probably Zambia.
  • RIM seen unveiling "iPhone killer" next week
    Wed, 28 Jul 2010 07:22:05 -0700
    VANCOUVER, British Columbia (Reuters) - Shares of BlackBerry smartphone maker Research In Motion Ltd jumped early on Wednesday on speculation it is set to unveil a long-awaited touchscreen handset designed to battle Apple Inc's popular iPhone.

  • Forget Mad Men. It's Time for Mad Women!
    Wed, 28 Jul 2010 07:21:33 -0700
    American society is systematically encouraging women to give up financial control.
  • KKR's low taxes -- subsidized by you
    Wed, 28 Jul 2010 07:20:56 -0700
    It's human nature to want to pay as little in taxes as possible, and to have someone else pick up the tab for the taxes we do have to pay. For most of us, alas, that's just a fantasy. But to the folks who run America's biggest and most prominent buyout funds, it's reality.
  • BP tees up asset sales to pay for spill
    Wed, 28 Jul 2010 07:19:19 -0700
    LONDON (Reuters) - A day after BP said it would sell $30 billion in assets to pay for its Gulf of Mexico oil spill, the focus shifted to what is for sale, while lawyers prepared to tackle a mountain of claims for damages.

  • Stocks flat after investors surprised by more weak data
    Wed, 28 Jul 2010 07:16:03 -0700
    The stock market is wavering after investors were hit with another unexpectedly disappointing economic report.
  • U.S. Stocks Retreat on Unexpected Drop in Durable Goods Orders
    Wed, 28 Jul 2010 07:14:00 -0700
    U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, as an unexpected decrease in orders for durable goods damped optimism from better-than-estimated corporate profits.
  • Boeing Net Drops on Delivery Decline; Forecast Upheld
    Wed, 28 Jul 2010 07:12:00 -0700
    Boeing Co., the world’s second- biggest commercial-jet builder, posted a 21 percent drop in second-quarter profit after delivering fewer planes.
  • Chevy Volt priced at $41,000
    Wed, 28 Jul 2010 07:10:31 -0700
    General Motors announced the final price of its Chevrolet Volt electric car Tuesday afternoon, but it's the lease rate that will probably be most interesting to consumers.
  • 'Charity raised our travel insurance premium from £168 to £1,002'
    Wed, 28 Jul 2010 07:10:02 -0700
    When Geoffrey Pulzer renewed his annual travel insurance he was told the premium had rocketed by 600pc.
  • IBM Probes Show EU Keeps ‘Tough Stance’ on Technology
    Wed, 28 Jul 2010 07:07:00 -0700
    The European Union’s probes into International Business Machines Corp. show that Competition Commissioner Joaquin Almunia may continue his predecessor’s penchant for going after technology companies.
  • Peugeot’s Auto Division May Report Second-Half Loss
    Wed, 28 Jul 2010 07:03:00 -0700
    PSA Peugeot Citroen, Europe’s second-largest carmaker, said its auto unit may lose money in the second half as demand in the main European market slumps.
  • Telefonica wins battle for Brazil's Vivo
    Wed, 28 Jul 2010 06:59:44 -0700
    MADRID (Reuters) - Spain's Telefonica has won its battle for a bigger share of the burgeoning Brazilian market, raising its offer for Portugal Telecom's stake in mobile operator Vivo to 7.5 billion euros ($9.7 billion).

  • Comcast Profit Tops Estimates on Premium Products
    Wed, 28 Jul 2010 06:59:00 -0700
    Comcast Corp., the largest U.S. cable company, posted second-quarter profit and sales that beat analysts’ estimates as more customers elected premium services such as digital video recorders and high-speed Internet.
  • Mass or Class? ? Misreading the Law or Simply Not Reading It?: Eleventh Circuit Panel Subverts CAFA
    Wed, 28 Jul 2010 06:57:15 -0700
    The U.S. Court of Appeals for the Eleventh Circuit last week either completely misread the?Class Ac
  • Stocks, Oil Retreat on Economy; Dollar Slips Versus Yen
    Wed, 28 Jul 2010 06:57:00 -0700
    U.S. stocks fell, Europe’s benchmark equity index halted a six-day rally and the dollar declined versus the yen as an unexpected drop in American durable-goods orders deepened concern the economic recovery is slowing.
  • Breaking the Mode, and Other High-Fashion Books
    Wed, 28 Jul 2010 06:55:51 -0700
    Vintage expert Doris Raymond recommendations books for people interested in wearing or buying vintag
  • Why The Heritage Foundation is Wrong About the CLASS Act
    Wed, 28 Jul 2010 06:55:20 -0700
    The voluntary long-term care insurance program should be adjusted, not repealed.
  • Conoco to Sell Lukoil Stake After Posting Profit Gain
    Wed, 28 Jul 2010 06:55:00 -0700
    ConocoPhillips plans to sell its entire 20 percent stake in Russia’s OAO Lukoil, valued at about $9 billion, after gains in crude prices spurred a jump in second-quarter profit at the third-largest U.S. oil company.
  • Advice for the reluctant landlord
    Wed, 28 Jul 2010 06:49:23 -0700
    With plans to start a family, Michael and Becky McCullough, 33 and 31, wanted more space. So last year they snapped up a four-bedroom foreclosure in Brookhaven, Ga., for $480,000.
  • P&G in London 2012 Olympics deal
    Wed, 28 Jul 2010 06:48:54 -0700
    Consumer products giant Procter & Gamble becomes the 11th big firm to sign an Olympics sponsorship deal covering London 2012.
  • Stocks sputter in jittery trade
    Wed, 28 Jul 2010 06:47:25 -0700
    A worse-than-expected durable goods orders report and some weaker quarterly results from Boeing and others were among the factors hanging over markets at Wednesday's open.
  • Home ownership lowest in 11 years
    Wed, 28 Jul 2010 06:46:39 -0700
    The number of Americans who own homes fell in the second quarter of the year to the lowest level since 1999, said a government survey released Tuesday.
  • Sprint stock rallies as customer base grows
    Wed, 28 Jul 2010 06:41:44 -0700
    Shares of Sprint Nextel rallied 4% in early trading Wednesday after the wireless provider posted its first quarterly gain in wireless customers in three years.
  • Boeing Beats, But Durable Goods Drag Stocks Lower
    Wed, 28 Jul 2010 06:40:00 -0700
    Latest signal of slowing economic recovery keeps a lid on market Wednesday morning.
  • Stocks tick down on June durables orders
    Wed, 28 Jul 2010 06:38:52 -0700
    NEW YORK (Reuters) - Stocks opened slightly lower on Wednesday after data showed orders for durable goods unexpectedly fell in June and Boeing Co's 2010 profit outlook was beneath Wall Street's consensus forecast.

  • Reliance, Essar eye BP's Africa retail ops - sources
    Wed, 28 Jul 2010 06:30:38 -0700
    NEW DELHI/MUMBAI (Reuters) - BP Plc is in talks with Reliance Industries and Essar Group to sell its African retail assets that could be worth as much as $500 million, four sources with direct knowledge of the matter told Reuters on Wednesday.
  • Rupee falls from 2-week high on refiners' demand
    Wed, 28 Jul 2010 06:30:26 -0700
    MUMBAI (Reuters) - The rupee dropped from its highest in two weeks on Wednesday as refiners stepped up their customary month-end dollar purchases and a fall in domestic equities underpinned sentiment.
  • Defending Fish Oil, Criticizing Glaxo
    Wed, 28 Jul 2010 06:28:47 -0700
    Steven Salzberg wrote earlier this week about GlaxoSmithKline's marketing of fish oil, a supplement,
  • Marico may raise hairoil prices, Q1 profits jump 32 pct
    Wed, 28 Jul 2010 06:20:37 -0700
    MUMBAI (Reuters) - Personal care products maker Marico Ltd may increase prices of its flagship hairoil brand 'Parachute' during the current quarter, a senior official said on Wednesday.
  • Jindal Steel Apr-June standalone net up 45.3 pct
    Wed, 28 Jul 2010 06:20:27 -0700
    REUTERS - Three months ended June 30
  • Buffett's Dairy Queen chilly on frozen yogurt lawsuit
    Wed, 28 Jul 2010 06:17:18 -0700
    NEW YORK (Reuters) - It's a case that has left Warren Buffett's Dairy Queen business cold.

  • Durable goods orders fall as growth picture dims
    Wed, 28 Jul 2010 06:12:43 -0700
    WASHINGTON (Reuters) - New orders for long-lasting U.S. manufactured goods unexpectedly fell for a second straight month in June, posting their largest decline since August, further evidence economic growth cooled in the second quarter.

  • Pakistani stocks end up; rupee weakens
    Wed, 28 Jul 2010 06:04:51 -0700
    Pakistani stocks rose on Wednesday as investors bought shares on hopes of strong corporate earnings, dealers said. The KSE s benchmark 100-share index, gained 0.68 percent, or 70.52 points, to end at 10,457.34 points on turnover of 93.86 million shares. The earning season kicked off with a few strong results giving impetus to investors to step in, said Asad Iqbal, chief investment officer at Faysal Asset Management Ltd. However, dealers said turnover was still on the lower side, as investors remained on the sidelines ahead of the announcement of
  • Genzyme's Hidden Value
    Wed, 28 Jul 2010 06:04:06 -0700
    The timing of Genzyme's earnings growth is as important as the company's overall sales when it comes
  • Sun Pharma Q1 net surges by 244 pct
    Wed, 28 Jul 2010 06:03:57 -0700
    Sun Pharmaceutical Industries reported a 244.43 per cent jump in net profit at Rs 564.32 crore for the quarter ended June, as compared to the same period of the previous fiscal. This has come on the back of a one-time sale of generic cancer drug oxaliplatin in the US. The company had posted a net profit of Rs 163.84 crore in the same quarter a year ago. Total income during the quarter stood at Rs 1,399.7 crore, against Rs 787.59 crore in the comparable period a year ago, up by 77.71 per cent. Commenting on the results, Sun Pharma Chairman ...
  • LIC MF offers exit option to unit holders
    Wed, 28 Jul 2010 06:02:39 -0700
    LIC Mutual Fund today offered an exit opportunity to its unit holders after the fund house s deal with Japan s Nomura Asset Management earlier this month. The unit holders may note that if they wish to redeem their investments with the Fund, the option to exit without any exit load can be exercised..., LIC MF said in a public notice. An exit load is the commission that an investor has to pay while selling off the mutual funds. This comission is charged by the fund to take care of their running expenses. Earlier this month, Nomura Asset Management
  • MRF Q1 profit declines by 51 pct
    Wed, 28 Jul 2010 06:01:44 -0700
    Tyre maker MRF posted a 51 per cent decline in its net profit at Rs 61.59 crore for the quarter ended June 30, 2010, over the same period last fiscal. The company had a net profit of Rs 125.70 crore in the corresponding quarter previous fiscal, MRF said in a filing to the Bombay Stock Exchange. During the quarter, the company s net sales increased by 34.2 per cent to Rs 1,924.4 crore from Rs 1,433.5 crore recorded in the same period fiscal. The Board of Directors approved payment of an interim dividend of Rs 3 per equity share, it said. ...
  • US futures down after disappointing data
    Wed, 28 Jul 2010 06:01:19 -0700
    Futures on major U.S. stock indices point to lower opening after the Department of Commerce reported that durable goods orders in June fell more than expected.
  • Boeing quarterly profit falls but beats forecast
    Wed, 28 Jul 2010 05:54:13 -0700
    CHICAGO (Reuters) - Boeing Co reported a higher-than-expected quarterly net profit on Wednesday as the commercial airplane market recovers from a downturn, but the results were down from a year earlier on fewer airplane deliveries.

  • Comcast revenue up, but profit slips on NBC costs
    Wed, 28 Jul 2010 05:50:22 -0700
    NEW YORK (Reuters) - Comcast Corp reported a better-than-expected 6 percent rise in quarterly revenue, but the cable giant's profit was undercut by fees it paid to bankers and lawyers involved in its acquisition of NBC Universal.

  • RIM Could Launch "iPhone Killer"
    Wed, 28 Jul 2010 05:11:49 -0700
    Research In Motion (RIM) has scheduled a press event on August 3 in New York, fuelling anticipation that it may unveil the much anticipated BlackBerry 9800 slider phone that is touted as RIM's answer to Apple's iPhone.
  • Pensions: tax-free contribution limit could be cut from £255,000 to £40,000
    Wed, 28 Jul 2010 04:50:11 -0700
    Government proposals could mean a tax charge for anyone in a final salary scheme who receives a pay rise.
  • What's Next For AgBank
    Wed, 28 Jul 2010 04:49:31 -0700
    AgBank Executive Vice President Pan Gongsheng discusses the transition of state-owned rural lender to modern banking.

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