Saturday, August 7, 2010

Business - 07 August 2010

  • HP Press Release on Hurd's Resignation
    Sat, 07 Aug 2010 05:49:19 -0700
  • Archive: Hurd and HP's Spying Scandal
    Sat, 07 Aug 2010 05:49:19 -0700
  • Politicians Spar Over Bush Tax Cuts
    Sat, 07 Aug 2010 05:49:19 -0700
  • Stripper: Degree Not Worth It
    Sat, 07 Aug 2010 05:49:19 -0700
  • Big Macs on campus
    Sat, 07 Aug 2010 05:48:29 -0700
  • Libya says to create $100 mln Niger investment fund
    Sat, 07 Aug 2010 05:30:27 -0700
    NIAMEY (Reuters) - Libya will invest $100 million in neighbouring Niger, Libya's Prime Minister said in the Nigerien capital late on Friday.
  • Fail Big, Avoid Jail; Lose Job, Find Dream: Commentary Review
    Sat, 07 Aug 2010 05:15:05 -0700
    (The following are excerpts from the past week’s Bloomberg News columns. For full text of any column, click on the command below the writer’s name. Opinions are those of the columnists.)
  • Health reform: What you're not getting
    Sat, 07 Aug 2010 05:01:05 -0700
  • BP offers cheap gas to make amends
    Sat, 07 Aug 2010 04:56:15 -0700
    In an effort to help struggling gas stations and appease furious consumers following the Gulf disaster, BP is lowering its gasoline prices. Attempts to help station owners hurt by the spill, could mean 2-cent-a-gallon discount for motorists.
  • FSA starts investigation into Coutts over AIG-linked savings product
    Sat, 07 Aug 2010 03:43:21 -0700
    The Queen's bank, Coutts, is being investigated over the sale of a savings product linked to troubled insurance group AIG.
  • Demand Media Files for $125 Million Initial Public Offering
    Sat, 07 Aug 2010 03:36:03 -0700
    Demand Media Inc., the developer of applications for social-media websites, plans to raise as much as $125 million in an initial public offering, it said in a filing with the Securities and Exchange Commission.
  • Your Money: Post charges and bank rates
    Sat, 07 Aug 2010 03:30:14 -0700
    In this week's Your Money Babita Sharma looks at post surcharges and bank interest rates.
  • Obama Says U.S. Health-Care Legislation to Strengthen Medicare
    Sat, 07 Aug 2010 03:24:05 -0700
    President Barack Obama said Medicare, the government health-insurance program for the elderly, got “good news” when a government report said it will remain solvent for more than a decade longer than previously forecast.
  • China Everbright IPO is 17-times oversubscribed
    Sat, 07 Aug 2010 03:10:26 -0700
    BEIJING (Reuters) - China Everbright Bank's initial public offering was about 17-times oversubscribed in the institutional portion of pre-marketing, it said on Saturday.
  • Sensex up on revival of monsoon
    Sat, 07 Aug 2010 02:50:36 -0700
    The BSE benchmark Sensex rose by 276 points to end the week at 18,143.99 points on revival of monsoon, healthy auto sales and strong manufacturing and services sector data. Across the sector buying triggered by host of positive factors helped the benchmark Sensex to regain 18K-mark. Most of the indices including consumer durable, IT, small-cap, mid-cap, Realty and Bank ended in green on renewed demand from investors and operators. Sustained buying by Foreign Institutional Investors (FIIs), the main market mover, was the major factor for the Sensex
  • 'Pan-Asian healthcare empire plan intact'
    Sat, 07 Aug 2010 02:50:17 -0700
    Fortis Healthcare chairman Malvinder Mohan Singh said his plan to use Singapore to build a pan-Asian healthcare empire remains unchanged though he lost a bid to take over hospital operator Parkway Holdings. The quality of medical education and the public health care system, which produces doctors, nurses and other talent for the industry, makes the city-state an ideal hub, said Singh in an interview with the Straits Times published on Saturday. All of these capabilities are available in Singapore, and they are available to anybody who wishes to
  • M&M board approves SsangYong bid
    Sat, 07 Aug 2010 02:50:06 -0700
    Auto major Mahindra & Mahindra s board on Saturday approved bidding to acquire beleaguered South Korea s SsangYong Motor ahead of the August 10 deadline for submission of bids. The board of directors of the company at its meeting held on August 7, 2010, have authorised submission of a binding bid to acquire majority stake in SsangYong Motor Co Ltd, South Korea, the company said in a filing to the Bombay Stock Exchange. The company, however, did not elaborate on the details. Company officials were tight-lipped on the sum that the firm could
  • RIM, Saudi Carriers Said to Be in BlackBerry Ban Talks
    Sat, 07 Aug 2010 02:39:00 -0700
    Research In Motion Ltd. and three Saudi Arabian phone companies are in talks to avert a ban on BlackBerry services in the country after a government deadline to shut off its messaging service lapsed, two people familiar with the discussions said.
  • Call to end post surcharge errors
    Sat, 07 Aug 2010 01:59:36 -0700
    The postal watchdog wants to stop unfair surcharges being imposed on stamped letters and packets sent by customers from their Post Offices.
  • Illegal chefs want French rights
    Sat, 07 Aug 2010 01:33:40 -0700
    Despite taking a tough line on illegal immigration, Nicolas Sarkozy's government appears to be tolerating the presence of those who work and pay taxes.
  • Orissa appeals against halt order on POSCO
    Sat, 07 Aug 2010 01:30:28 -0700
    MUMBAI (Reuters) - The chief minister of Orissa has appealed to the prime minister to allow South Korea's POSCO to continue work on a giant iron ore project after the environment ministry ordered a halt.
  • Mahindra to bid for Ssangyong
    Sat, 07 Aug 2010 01:00:26 -0700
    MUMBAI (Reuters) - Mahindra & Mahindra said on Saturday its board have directors had approved submission of a binding bid to buy a majority stake in troubled South Korean automaker Ssangyong Motor as it seeks to become a major global utility vehicles maker.
  • Two Wrapit directors banned from acting as company directors
    Sat, 07 Aug 2010 00:44:39 -0700
    Two directors of Wrapit, the wedding gift company which collapsed in 2008 with debts of £7m and 72,000 undelivered wedding presents, banned from acting as company directors.
  • Hewlett-Packard boss Mark Hurd quits after sexual harassment inquiry
    Sat, 07 Aug 2010 00:25:29 -0700
    Mark Hurd agreed to step down with immediate effect after he was found to have violated the company's own business conduct standards.
  • Abbott’s Coalition in Australia Maintains Poll Lead
    Sat, 07 Aug 2010 00:11:00 -0700
    Australia’s Liberal-National coalition maintained an opinion poll lead over the ruling Labor party ahead of its election campaign start tomorrow in Queensland, the home state of ousted Prime Minister Kevin Rudd.
  • Panasonic to tap subsid's retail network in India - Nikkei
    Fri, 06 Aug 2010 23:40:25 -0700
    TOKYO (Reuters) - Japan's Panasonic Corp will start selling its home electronics and similar products made by subsidiary Sanyo Electric Co via another subsidiary's retail stores in India, the Nikkei reported on Saturday.
  • Early bird Tata Sky leads DTH pack, but only just
    Fri, 06 Aug 2010 23:39:04 -0700
  • Reliance Comm aims for a Big-ger market share
    Fri, 06 Aug 2010 23:38:30 -0700
  • Biggest deal for NTC: Indiabulls buys Worli mill for Rs 1,505 cr
    Fri, 06 Aug 2010 23:37:05 -0700
  • HP CEO resigns after sex harassment investigation
    Fri, 06 Aug 2010 23:20:26 -0700
    SAN FRANCISCO (Reuters) - Hewlett-Packard Co CEO Mark Hurd resigned on Friday after an investigation found that he had falsified expense reports to conceal a "close personal relationship" with a female contractor.
  • Volcker impact sends shivers through banks
    Fri, 06 Aug 2010 22:50:39 -0700
    NEW YORK/BOSTON (Reuters) - Speculation continues to grow as to which Wall Street bank will be looking to get out of proprietary trading or the private equity business in order to comply with new financial regulatory reform legislation.
  • HP has strong internal talent to replace Hurd
    Fri, 06 Aug 2010 22:50:27 -0700
    SAN FRANCISCO (Reuters) - Hewlett-Packard Co said it was looking inside and outside the company to find a replacement for Mark Hurd, who resigned on Friday following a sexual harassment investigation that found Hurd violated HP's policy for standard business practices.
  • Secrets Of Engaging Customers In Online Communities
    Fri, 06 Aug 2010 22:00:00 -0700
    Keep groups small, relevant, transparent.
  • House lawmaker calls for probe of Fannie Mae allegations
    Fri, 06 Aug 2010 21:38:30 -0700
    WASHINGTON (Reuters) - The top Republican on the House Financial Services Committee called on Friday for an investigation into charges that mortgage finance giant Fannie Mae pushed borrowers into a mortgage aid program so it could receive incentive payments from the U.S. government.

  • Weak private hiring shows recovery on the ropes
    Fri, 06 Aug 2010 18:10:14 -0700
    WASHINGTON (Reuters) - U.S. private employers added fewer workers to their payrolls in July than expected and hiring in June was much weaker than had been thought, a big blow to an already feeble economic recovery.

  • Berkshire net down 40 percent on derivative losses
    Fri, 06 Aug 2010 18:03:59 -0700
    NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts.

  • Regulators shut Ravenswood Bank of Chicago
    Fri, 06 Aug 2010 17:38:07 -0700
    WASHINGTON (Reuters) - U.S. regulators seized Ravenswood Bank of Chicago on Friday, bringing the number of closures this year to 109 as the community bank sector continues to suffer under the weight of bad loans.

  • Bank of America estimates litigation cost up to $1.4 billion
    Fri, 06 Aug 2010 16:28:04 -0700
    CHARLOTTE, North Carolina (Reuters) - Bank of America Corp projects that its losses from pending litigation could be as high as $1.4 billion, the company disclosed in its second-quarter report filed Friday with securities regulators.

  • Citi to raise more long-term debt in 2010
    Fri, 06 Aug 2010 15:40:34 -0700
    NEW YORK (Reuters) - Citigroup Inc raised its estimates and now expects to issue $18 billion to $21 billion in long-term debt in 2010, the company said in a regulatory filing on Friday.

  • Wall Street slips on jobs data as Hewlett-Packard CEO quits
    Fri, 06 Aug 2010 14:30:33 -0700
    NEW YORK (Reuters) - Stocks fell on Friday after government data showed a larger-than-expected drop in July payrolls, giving investors a stark reminder the economic recovery remains slow.

  • Wheat price drops sharply after Thursday panic buying
    Fri, 06 Aug 2010 13:56:37 -0700
    Russia´s ban on grain exports caused a buying frenzy on global grain markets, driving prices up sharply under record high volumes.
  • Late-session rally can't bring stocks out of the red as jobs data weigh on sentiment
    Fri, 06 Aug 2010 13:48:00 -0700
    Stocks fell, weighed down by a disappointing July non-farm payrolls report, but finished well above earlier lows due to a late-session rally, ahead of next Tuesday's FOMC meeting.
  • AIG tops view, starts talks on government exit
    Fri, 06 Aug 2010 13:45:56 -0700
    NEW YORK (Reuters) - American International Group Inc Chief Executive Robert Benmosche is hoping this is the beginning of the end for the insurer's massive taxpayer bailout.

  • Dollar goes down, stocks go up: the correlation song remains the same
    Fri, 06 Aug 2010 13:31:41 -0700
    The dollar, as represented by the US dollar index, has plunged since hitting a recent peak in early June; meanwhile the U.S. stock market has risen since that time, suggesting the inverse correlation between the dollar and stocks remains intact.
  • BP admits it might drill oil reservoir near Gulf of Mexico disaster site
    Fri, 06 Aug 2010 12:48:04 -0700
    BP has admitted it would consider drilling the oil reservoir that gushed 4.9m barrels of oil into the Gulf of Mexico.

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