Friday, August 6, 2010

Business - 06 August 2010

  • Indiabulls Real Estate wins Mumbai plot for $326 mln
    Fri, 06 Aug 2010 08:00:38 -0700
    NEW DELHI (Reuters) - Indian developer Indiabulls Real Estate will pay more than double the asking price for a plot of land in central Mumbai, state-run National Textile Corp (NTC), which sold the land, said on Friday.
  • Q+A: India's proposed goods and services tax
    Fri, 06 Aug 2010 08:00:26 -0700
    NEW DELHI (Reuters) - Plans by India to introduce a nationwide goods and services tax (GST) from next April may be delayed if any state governments fail to back the government's proposed rollout timetable.
  • A Jump in Hiring—but Only Part-Time
    Fri, 06 Aug 2010 07:58:18 -0700
    More temp workers are being hired, but companies don't trust the recovery—hence they're not making full-time offers
  • Some Jobless Pay Bigger Penalty
    Fri, 06 Aug 2010 07:58:18 -0700
  • BP stock gains ground, but major resistance looms
    Fri, 06 Aug 2010 07:49:10 -0700
    PARIS (Reuters) - Shares in BP rose 1.2 percent in London on Friday, taking their bounce since the near 14-year low in June to 45 percent, lifted by the group's latest progress in plugging the ruptured oil well in the Gulf of Mexico.

  • Dollar near bear-market territory
    Fri, 06 Aug 2010 07:48:11 -0700
  • US stocks decline after disappointing jobs data
    Fri, 06 Aug 2010 07:46:06 -0700
    US stocks declined in early trade on Friday after highly anticipated non-farm payrolls showed continued layoff of workers by employers in July.
  • US sees 131,000 jobs lost in July
    Fri, 06 Aug 2010 07:44:32 -0700
    The US economy shed another 131,000 jobs in July, the second month in a row that jobs have been lost, the Labor Department says.
  • Stocks slump on dour jobs report
    Fri, 06 Aug 2010 07:44:25 -0700
    Stocks tumbled Friday after the government reported a larger-than-expected drop in U.S. payrolls, stoking concerns about the wavering economic recovery.
  • Write-down pushes AIG into loss
    Fri, 06 Aug 2010 07:40:07 -0700
    US insurer AIG swung to a $2.7bn quarterly loss, hurt by a big charge related to the sale of a foreign subsidiary.
  • Romer Resigns in Second Exit for Obama Economy Team
    Fri, 06 Aug 2010 07:38:00 -0700
    President Barack Obama lost a second member of his economic team as economist Christina Romer decided to return to teaching on the eve of an employment report highlighting the administration’s struggle to spur job gains.
  • ADM, Potash, Eagle Bulk to Reap Rewards of Wheat Ban
    Fri, 06 Aug 2010 07:34:00 -0700
    Archer Daniels Midland Co., Potash Corp. of Saskatchewan Inc. and Eagle Bulk Shipping Inc. stand to benefit after Russia, the fifth-largest wheat grower, banned exports of the grain because of its worst drought in 50 years.
  • Credit Suisse upgrades Alliant Techsystems to ‘outperform’
    Fri, 06 Aug 2010 07:29:30 -0700
    The brokerage raised its 2011 EPS estimate of Alliant to $9.18 from $8.28 and its 2012 estimate to $8.50 from $8.00.
  • AIG beats Street and starts talks on govt exit
    Fri, 06 Aug 2010 07:27:39 -0700
    NEW YORK (Reuters) - American International Group Inc's quarterly results topped Wall Street's expectations on Friday, and the insurer said it had started talks on repaying one of the biggest U.S. taxpayer bailouts.

  • Company Payrolls Rose by 71,000 in July; U.S. Jobless Rate 9.5%
    Fri, 06 Aug 2010 07:26:00 -0700
    Companies in the U.S. added workers in July for a seventh straight month at a pace that suggests the labor-market recovery will be slow to take hold.
  • European Stocks Decline After U.S. Jobs Data Trails Forecasts
    Fri, 06 Aug 2010 07:23:00 -0700
    European stocks dropped after a government report showed the U.S. lost more jobs last month than economists had forecast.
  • Why Google-Verizon deal matters
    Fri, 06 Aug 2010 07:20:43 -0700
    Who controls the Internet and how you access it is the subject of an increasingly heated debate -- and a turning point is nearing.
  • Economy loses jobs ... again
    Fri, 06 Aug 2010 07:19:11 -0700
    For the second month in a row, the U.S. economy shed jobs as the government continued to unload census workers, offsetting disappointing gains in private business hiring.
  • Magna profit blows past estimates
    Fri, 06 Aug 2010 07:14:37 -0700
    TORONTO (Reuters) - Auto parts maker Magna International reported much higher-than-expected quarterly results on Friday, with sales up about two-thirds on the back of a strong pickup in the North American car market.

  • BT glitch hits Sky Sports viewers
    Fri, 06 Aug 2010 07:14:10 -0700
    BT Vision confirms that a technical problem has led to many of its customers being unable to view Sky Sports.
  • Washington Post Q2 profit soars
    Fri, 06 Aug 2010 07:14:08 -0700
    BANGALORE (Reuters) - The Washington Post Co's quarterly profits quadrupled, driven by strength in its broadcasting and education segment.

  • Wheat price fears hit food shares
    Fri, 06 Aug 2010 07:14:08 -0700
    Shares in brewers and food producers fall on fears that rising wheat prices could hit their profit margins.
  • Tylenol's side effect? A brand boycott
    Fri, 06 Aug 2010 07:14:00 -0700
    Tylenol, Motrin, Benadryl may come back to drugstores near you, but industry watchers say consumers could permanently banish them from their own medicine cabinets.
  • Saudi BlackBerry ban unclear as Messenger works
    Fri, 06 Aug 2010 07:13:33 -0700
    RIYADH (Reuters) - A Saudi threat to cut off Blackberry Messenger services did not take immediate hold on Friday as users in Saudi Arabia were still able to access the service.

  • Fitch raises Ford Motor's credit ratings
    Fri, 06 Aug 2010 07:09:34 -0700
    Fitch has upgraded the credit ratings of Ford Motor Co and its finance unit Ford Motor Credit, citing continued strong financial performance and the substantial debt reduction in the second quarter.
  • The LeBron Effect
    Fri, 06 Aug 2010 07:05:11 -0700
    NBA player agents are gaining power.
  • RBS agrees $3 billion WorldPay deal with Advent and Bain
    Fri, 06 Aug 2010 07:03:34 -0700
    LONDON (Reuters) - Royal Bank of Scotland clinched the $3 billion sale of a majority stake in its WorldPay arm to a private equity duo, the latest step in its recovery plan following a humiliating taxpayer bailout in 2008.

  • Flag manufacturing industry speeds up work to meet Independence...
    Fri, 06 Aug 2010 07:01:47 -0700
    Coimbatore, Aug 6 (ANI): With the Independence Day around the corner, the national flag manufacturing industry in Coimbatore is expediting the business and working overtime to complete their orders.
  • Inflation hits Lucknow's kebab business
    Fri, 06 Aug 2010 07:01:47 -0700
    Lucknow, Aug 6 (ANI): The kebab business in Lucknow has been badly hit by inflation rates.
  • The Perfect IT Department
    Fri, 06 Aug 2010 07:00:00 -0700
    How the CIO and CFO work together to create a financially savvy IT staff.
  • Canada unexpectedly loses jobs in July
    Fri, 06 Aug 2010 06:58:17 -0700
    Canada's economy unexpectedly lost 9,300 jobs in July – the first monthly decline recorded this year -- while the country's unemployment rate edged up to 8.0 percent from 7.9 percent, according to data from Statistics Canada.
  • Wheat near 2-year high on Russia export ban
    Fri, 06 Aug 2010 06:57:21 -0700
    MOSCOW (Reuters) - Wheat prices held just below a two-year high while shares in European brewers and food producers fell on Friday as markets reacted to the sudden imposition of a ban on grain exports from drought-hit Russia.

  • Wall Street slips after payrolls data
    Fri, 06 Aug 2010 06:40:55 -0700
    NEW YORK (Reuters) - Stocks fell at the open on Friday after data showed a larger-than-expected drop of 131,000 in July non-farm payrolls.

  • GLOBAL MARKETS WEEKAHEAD - Low returns for longer?
    Fri, 06 Aug 2010 06:40:39 -0700
    LONDON (Reuters) - Investors face a challenging landscape as a low-growth, low-rates environment and an uneven recovery across the globe are set to depress returns and elevate volatility even after the current summer lull is over.
  • Investors, hedge funds get real about returns
    Fri, 06 Aug 2010 06:40:27 -0700
    LONDON (Reuters) - Hedge fund investors scarred by global credit crisis losses are setting their expectations lower and beginning to content themselves with smaller gains they would have balked at two years ago.
  • AIG results top view; starts talks on govt exit
    Fri, 06 Aug 2010 06:30:26 -0700
    NEW YORK (Reuters) - American International Group Inc reported better-than-expected quarterly results on Friday and said it had started talks on disentangling itself from the U.S. government.
  • Economy sheds 131,000 jobs in July
    Fri, 06 Aug 2010 06:20:47 -0700
    WASHINGTON (Reuters) - Employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.

  • Gulf BlackBerry row lifts veil on state cyberspies
    Fri, 06 Aug 2010 06:20:27 -0700
    LONDON (Reuters) - The arguments over whether several emerging nations can effectively hack BlackBerry devices gives a rare glimpse of the shadowy world of state electronic surveillance already changing politics, espionage and business.
  • US jobs fall signals sluggish recovery
    Fri, 06 Aug 2010 06:20:10 -0700
    US employment fell for a second month in July as more temporary census jobs ended and companies hired fewer workers than expected.
  • Robert W. Baird downgrades Hewitt Associates to ‘neutral’
    Fri, 06 Aug 2010 06:12:48 -0700
    The brokerage lowered its 2010 EPS estimate for Hewitt to $2.72 from $2.93 and its 2011 estimate to $3.03 from $3.12.
  • Rupee falls from 7-week high on weak shares
    Fri, 06 Aug 2010 06:10:40 -0700
    MUMBAI (Reuters) - The rupee slipped from its highest in nearly seven weeks on Friday as local share prices dipped raising concerns whether capital inflows would keep up the momentum for the rest of the year.
  • GLOBAL MARKETS - U.S. jobs data sinks stocks, hits dollar
    Fri, 06 Aug 2010 06:10:28 -0700
    LONDON (Reuters) - Far worse than expected U.S. jobs data tipped European equities into negative territory, undermined the dollar and set Wall Street on the road towards a lower open on Friday.
  • Gas burn for power seen "moderate" over next 5 years: Bentek
    Fri, 06 Aug 2010 06:04:57 -0700
    Higher coal-to-gas switching last year in U.S. is a false market signal that appeared to promise that increased power burn demand would help offset ongoing supply growth in the shales, according Bentek Energy, LLC.
  • Government grapples with Commonwealth Games rows
    Fri, 06 Aug 2010 06:00:27 -0700
    NEW DELHI (Reuters) - From leaking venue roofs to inflated orders of taxis and mobile toilets, rows over New Delhi's Commonwealth Games have prompted Indian soul-searching and piled pressure on the embattled ruling Congress party.
  • US futures dip after disappointing jobs data
    Fri, 06 Aug 2010 05:58:01 -0700
    Futures on major U.S. stock indices turned lower on Friday after nonfarm payrolls for the month of July fell higher than expected.

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