Friday, July 9, 2010

Business News - 09 July 2010

  • Gold hits one week-high in Europe
    Fri, 09 Jul 2010 09:34:24 -0700
    Gold XAU= bid at $1,208.45/1,209.45 an ounce at 1515 GMT against $1,196.48 late in New York on Thursday.
  • Google Wins China License Renewal
    Fri, 09 Jul 2010 09:34:00 -0700
    Google defused a six-month standoff with the government over search censorship by modifying how it directs users to an unfiltered Hong Kong site
  • Oil rises above $76, heads for weekly gain
    Fri, 09 Jul 2010 09:33:27 -0700
    Oil topped $76 a barrel on Friday and was heading for a weekly gain of more than 4 percent following bullish economic and crude inventory data this week.
  • WAfrica Crude-Nigerian grades steady on Sept buying
    Fri, 09 Jul 2010 09:32:53 -0700
    Nigerian Qua Iboe crude oil premiums held just below $2 on Friday after India Oil Corp (IOC) issued a tender to buy September loading crude oil.
  • GE’s Immelt Says China, Global Trade Face Challenges
    Fri, 09 Jul 2010 09:32:00 -0700
    General Electric Co. Chief Executive Officer Jeffrey Immelt said free trade in markets including China will always face obstacles as globalization evolves.
  • Niger committee says studies Semafo gold contract
    Fri, 09 Jul 2010 09:31:16 -0700
    A Nigerien committee set up to tackle economic and financial irregularities said on Friday it was studying a contract signed by Canada's Semafo (SMF.TO) to mine gold in the west of the country.
  • Russian Spies Fly to Moscow in a Swap That Echoes Cold War Era
    Fri, 09 Jul 2010 09:30:00 -0700
    Ten convicted members of a Russian spy ring, some of whom posed as ordinary Americans for more than a decade, were exchanged with four men jailed in Russia, bringing a rapid conclusion to a case made public 12 days ago.
  • MidEast/African holidays to December 2010
    Fri, 09 Jul 2010 09:29:47 -0700
    Details below represent the latest information available and will be supplemented later, particularly with updated entries for Muslim holidays.
  • S.Africa and Brazil pledge to boost trade
    Fri, 09 Jul 2010 09:28:57 -0700
    South Africa and Brazil pledged on Friday to deepen trade and commercial ties in another sign of emerging countries gradually shifting their economic dependence away from rich nations.
  • Zambian kwacha posts biggest weekly gain this year
    Fri, 09 Jul 2010 09:27:52 -0700
    Zambia's kwacha has posted its biggest weekly gain this year, hitting a nearly two-month high due to local selling of dollars, in part by companies needing kwacha to pay salaries, traders said.
  • Congo's new oil deals "massive regression": lobby
    Fri, 09 Jul 2010 09:27:00 -0700
    Democratic Republic of Congo's latest oil deal with two surprise South African entrants for two coveted blocks in the east of the country will lose the country millions of dollars of potential earnings, according to a lobby group and contract documents seen by Reuters.
  • China Export-Import bank lends Angola $500 mln
    Fri, 09 Jul 2010 09:24:22 -0700
    The Export-Import Bank of China has agreed to loan Angola $500 million to rebuild roads to help the African nation recover from a three-decade long civil war that ended in 2002, Angola's finance minister said on Friday.
  • Obama Seeks $5 Billion to Spur Creation of Clean-Energy Jobs
    Fri, 09 Jul 2010 09:24:11 -0700
    President Barack Obama called on Congress today to add $5 billion for expansion of a clean-energy manufacturing tax credit to encourage job creation.
  • Air Products Says How 'Bout $63?
    Fri, 09 Jul 2010 09:20:00 -0700
    Air Products hiked its hostile takeover bid for Airgas later yesterday.
  • S.African stocks climb, rand steady against dollar
    Fri, 09 Jul 2010 09:19:34 -0700
    South African stocks rose on Friday with gold shares buoyed by rising gold prices, while the rand was little changed in lacklustre trade.
  • Redundancy rights: what you need to know if the axe falls
    Fri, 09 Jul 2010 09:17:35 -0700
    Knowing your legal rights can help secure a better severance package, should the P45 land on your desk. But even before job cuts are announced, it pays to know what notice period you are on and the size of any redundancy payment due.
  • Disney Set For Miramax Sell
    Fri, 09 Jul 2010 09:15:00 -0700
    Entertainment company said to be poised to sell film studio to investor group that includes billionaire Ron Tutor.
  • Gaza Voyage Planned by Charity Headed by Qaddafi Son
    Fri, 09 Jul 2010 09:12:00 -0700
    An aid organization led by a son of Libyan leader Muammar Qaddafi said it is sending a ship loaded with food and medicine to the Gaza Strip in an effort to break Israel’s blockade of the Palestinian enclave.
  • Google gets nod from China to keep search page
    Fri, 09 Jul 2010 09:10:26 -0700
    SHANGHAI (Reuters) - Google Inc said China has given it permission to continue operating its Chinese search page, resolving a censorship dispute that had threatened Google's future in the world's biggest Internet market.
  • Disney Reportedly Selling Miramax
    Fri, 09 Jul 2010 09:10:00 -0700
    Disney (DIS) is reportedly poised to sell its Miramax film studio to an investor group. Reuters reported
  • Telefonica May Amend Vivo Offer to Appease Portugal
    Fri, 09 Jul 2010 09:08:00 -0700
    Telefonica SA may grant Portugal Telecom SGPS SA a minority holding in its Brazilian assets to win approval for its 7.15 billion-euro ($9.1 billion) offer for the Portuguese company’s stake in Brazil’s largest wireless operator, analysts said.
  • China Says UN Response to Warship Sinking May Defuse Tensions
    Fri, 09 Jul 2010 09:07:19 -0700
    China’s ambassador to the United Nations said the Security Council response today to the sinking of a South Korean warship, while not explicitly blaming North Korea, will help ease tensions in the region.
  • N.J. Governor Christie to Examine Privatization to Cut Costs
    Fri, 09 Jul 2010 09:07:12 -0700
    New Jersey Governor Chris Christie’s administration presented a plan to privatize motor-vehicle inspections and state park services and stop government construction of pre-schools.
  • Osborne defends OBR independence
    Fri, 09 Jul 2010 09:06:30 -0700
    Chancellor George Osborne defends the independence of the forecasting body, the OBR, amid reports it revised key numbers.
  • How big is too big to fail?
    Fri, 09 Jul 2010 09:02:55 -0700
    A systemic risk council has the power to unwind banks that are too big to go under. Now we just have to figure out what that means.
  • Has The Market Lost That Oversold Feeling?
    Fri, 09 Jul 2010 09:02:42 -0700
    After stretching the rubber band as tightly as it was after last week's losses, the market was due f
  • Dow and S&P flat ahead of earnings
    Fri, 09 Jul 2010 09:02:35 -0700
    NEW YORK (Reuters) - The Dow and S&P were little changed on Friday, following three days of gains as investors looked ahead to the start of earnings season while Google helped keep the Nasdaq in modestly positive territory.

  • How Twitter plans to turn a profit
    Fri, 09 Jul 2010 09:02:07 -0700
    In March 2006, Jack Dorsey wrote the first tweet ever: "Just setting up my twttr." Inspired by the pithy status updates in the ambulance and taxicab dispatch software he once programmed, Dorsey translated that software model into a real-time stream where more than 190 million users now relay their thoughts in 140 text characters or less.
  • U.S. mulls response after court refuses drilling stay
    Fri, 09 Jul 2010 09:00:26 -0700
    WASHINGTON (Reuters) - The Obama administration scrambled on Friday to respond to a court's refusal to reinstate a ban on deepwater drilling imposed after BP Plc's massive oil spill, while insisting the ruling was not a major setback for the policy.
  • EADS Goes It Alone Vs. Boeing
    Fri, 09 Jul 2010 09:00:00 -0700
    European aerospace firm submits new bid for Pentagon contract after partner Northrop Grumman drops out.
  • India, Ontario sign MoU for cooperation in 'Geology and Mineral...
    Fri, 09 Jul 2010 08:59:52 -0700
    New Delhi, July 9 (ANI): India and Ontario, a Canadian province, signed a Memorandum of Understanding (MoU) to boost cooperation and investment in the field of Geology and Mineral Resources in Toronto.
  • Poetry And Pollution
    Fri, 09 Jul 2010 08:59:47 -0700
    A blog on corporate social responsibility may be the last place you expect to read poetry. But I thi
  • Debt collectors get nasty
    Fri, 09 Jul 2010 08:56:15 -0700
    Debt collectors are getting desperate and dirty.
  • Insolvencies highest in North East
    Fri, 09 Jul 2010 08:53:29 -0700
    Figures showing the hotspots for personal insolvencies in England show the highest level in the North East.
  • Dear Cleveland
    Fri, 09 Jul 2010 08:51:00 -0700
    The moment the Cavaliers won the lottery rights to draft LeBron in the spring of 2003, everyone stop
  • Lack of rail wagons hits east India coal supply
    Fri, 09 Jul 2010 08:50:26 -0700
    NEW DELHI (Reuters) - A lack of railway coaches in Orissa has led to a reduced supply of imported coal for power and steel companies including plants of state-run NTPC, an official in a large trading firm said on Friday.
  • Refueling Tanker Bids Due Friday, EADS Submits Solo Bid
    Fri, 09 Jul 2010 08:50:00 -0700
    EADS has submitted a solo bid to the Pentagon in its contract process for aerial refueling tankers. Boeing
  • Stocks try to edge forward
    Fri, 09 Jul 2010 08:49:50 -0700
    Stocks were volatile Friday as investors were cautious after a three-session advance and ahead of the first big wave of quarterly profit reports, due for release next week.
  • SEC pushes tighter market-making rules: sources
    Fri, 09 Jul 2010 08:48:52 -0700
    NEW YORK/WASHINGTON (Reuters) - Securities regulators are moving quickly to tighten rules for market makers and eliminate so-called stub quotes, to ensure there is liquidity during stressful times, according to sources familiar with the discussions.

  • Business Philanthropy Trends
    Fri, 09 Jul 2010 08:48:50 -0700
    Bloomberg, Bush, and other business leaders talk about trends in business philanthropy.
  • Business Philanthropy Trends
    Fri, 09 Jul 2010 08:48:50 -0700
    Bloomberg, Bush, and other business leaders talk about trends in business philanthropy.
  • A New Approach to Classroom Computers
    Fri, 09 Jul 2010 08:48:30 -0700
    Israeli startup Time To Know is out to revolutionize education by offering schools a new digital teaching platform and interactive curriculum. The company's ambitious goal: to radically change the way teachers and students interact.
  • LeBron James Vs. Dan Gilbert
    Fri, 09 Jul 2010 08:48:19 -0700
    Career lessons from a star performer's contentious move to a new franchise and a boss' bad behavior.
  • European bank tests put focus on capital hikes
    Fri, 09 Jul 2010 08:48:12 -0700
    AMSTERDAM (Reuters) - European finance ministers will shift their focus next week onto a possible need for banks to raise more capital and on who will cover any shortfalls exposed by stress tests -- a sum which Credit Suisse estimated could reach 90 billion euros ($114 billion).

  • Cost-cutting Singaporean Investor Turns Around Australian Airline
    Fri, 09 Jul 2010 08:40:00 -0700
    With a gimlet-eyed obsession with costs, Lim Kim Hai put troubled Australian airline Rex on a flight path to profits.

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