Wednesday, August 11, 2010

Business - 11 August 2010

  • Seniors Vie with Teens in Labor Market
    Wed, 11 Aug 2010 09:06:04 +0000
  • Stocks set to slump
    Wed, 11 Aug 2010 09:03:33 +0000
    U.S. stocks looked set to follow world markets lower Wednesday, amid anxiety about the economic recovery.
  • Unemployment dips to 2.46 million
    Wed, 11 Aug 2010 09:02:06 +0000
    The number of people unemployed in the UK fell to 2.46 million in the three months to June, official figures show.
  • Fed Reverses Exit Plan With $2 Trillion Holding Floor
    Wed, 11 Aug 2010 09:02:00 +0000
    The Federal Reserve reversed plans to exit from aggressive monetary stimulus and decided to keep its bond holdings level to support an economic recovery it described as weaker than anticipated.
  • Bank 'to revise' growth forecast
    Wed, 11 Aug 2010 08:58:52 +0000
    The Bank of England is expected to lower its forecasts for UK economic growth and raise its expectations for inflation next year.
  • Stock futures signal losses in wake of Fed
    Wed, 11 Aug 2010 08:54:52 +0000
    PARIS (Reuters) - U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, as the Federal Reserve's gloomier assessment of the economy rattled investors and the central bank's measures to support the fragile recovery failed to reassure world markets.

  • Hyderabad Shores Up Dam Defenses as Pakistan Floods Surge South
    Wed, 11 Aug 2010 08:51:00 +0000
    Pakistani engineers shored up river defenses in Hyderabad, the country’s sixth-largest city, as flood waters poured south, leaving behind a trail of unprecedented destruction.
  • India to resolve POSCO plant environment issues - min
    Wed, 11 Aug 2010 08:50:28 +0000
    NEW DELHI (Reuters) - Environmental concerns over a $12-billion steel plant in India planned by South Korea's POSCO, will be resolved soon, Steel Minister Virbhadra Singh said on Wednesday.
  • China factory growth slows again
    Wed, 11 Aug 2010 08:49:20 +0000
    Chinese industrial growth slowed again in July, adding to recent data that suggest the country's economy is cooling.
  • ICBC Asia Shares Jump 25% on $1.4 Billion Buyout
    Wed, 11 Aug 2010 08:45:00 +0000
    Industrial & Commercial Bank of China (Asia) Ltd. rose by a record 25 percent in Hong Kong trading after its parent offered HK$10.83 billion ($1.4 billion) to take the unit private.
  • Pimco Calls Fed Rate Policies ‘Good for Risk Assets’
    Wed, 11 Aug 2010 08:45:00 +0000
    The Federal Reserve’s decision to buy Treasuries and keep interest rates low will support “risk assets” without bringing down unemployment, said Anthony Crescenzi at Pacific Investment Management Co.
  • U.K. Unemployment Falls as Economy Adds Workers
    Wed, 11 Aug 2010 08:45:00 +0000
    U.K. unemployment fell as the economy added workers at the fastest pace since 1989, further evidence that the recovery from recession broadened in the second quarter.
  • Dollar dips after Fed
    Wed, 11 Aug 2010 08:43:00 +0000
    The dollar edged towards a 15-year low against the yen on Wednesday after the Federal Reserve moved to bolster the weakening U.S. economy, while technology plays dragged Asian stocks lower.
  • The radical tax that's looming large
    Wed, 11 Aug 2010 08:41:51 +0000
    Last Saturday, I got a crackling cell phone call from Republican Congressman Paul Ryan, who was hanging drywall at his Victorian home in Janesville, Wisconsin. I'd found that Ryan had knack for foreseeing unpredictable twists in economic legislation and wanted to chat with him about what he's seeing now.
  • Nikkei slides as yen rise sparks economy worries
    Wed, 11 Aug 2010 08:40:39 +0000
    TOKYO (Reuters) - Japan's Nikkei average fell 2.7 percent on Wednesday, marking its worst day in nearly a month as a stronger yen deepened worries about the longer-term prospects for Japan's economy and the technical outlook darkened.
  • India squeezes BlackBerry; onus on telco operators
    Wed, 11 Aug 2010 08:40:27 +0000
    NEW DELHI (Reuters) - India may temporarily shut down BlackBerry services if New Delhi's concerns about security are not addressed in a meeting between the government and mobile phone operators on Thursday, government sources said.
  • Dollar Surges as Federal Reserve Spurs Global Slowdown Concern
    Wed, 11 Aug 2010 08:39:00 +0000
    The dollar surged the most in three weeks against the euro after the Federal Reserve yesterday said economic growth had slowed and the recovery was weaker than it had anticipated, spurring demand for safer assets.
  • Asian stocks decline on Japanese machinery orders, stronger yen
    Wed, 11 Aug 2010 08:38:30 +0000
    Asian stock markets declined on Wednesday, led by Japanese shares as stronger yen deepened worries about the longer-term outlook for the world’s second largest economy.
  • iPad rival from Dell to go on sale this week
    Wed, 11 Aug 2010 08:36:58 +0000
    Dell has confirmed that its Streak mini-tablet will hit the U.S. stores later this week, making it the first major competitor to Apple Inc.'s iPad.
  • Employers eye offshore health care
    Wed, 11 Aug 2010 08:35:09 +0000
    Tina Follett and her husband Patrick are in Panama on a two-week all-expenses paid trip. But Tina isn't on vacation. She's there to get surgery.
  • Russian Firefighters Take Advantage of Break in Moscow Smog
    Wed, 11 Aug 2010 08:32:09 +0000
    Russian firefighting aircraft will douse wildfires in the Moscow region today, as smoke smothering the capital temporarily cleared.
  • IEA edges demand growth higher but economy weighs
    Wed, 11 Aug 2010 08:30:39 +0000
    LONDON (Reuters) - Global oil demand growth is forecast to inch higher over the rest of this year and into 2011, but if the global economy is weaker than forecast any rise in fuel consumption will be wiped out, the IEA said on Wednesday.
  • RBI plans limited new bank licences
    Wed, 11 Aug 2010 08:30:27 +0000
    MUMBAI (Reuters) - The Reserve Bank of India (RBI) on Wednesday said it intends to grant a limited number of new bank licences, a move that was earlier flagged by the government to expand the geographic reach of the sector.
  • India squeezes BlackBerry
    Wed, 11 Aug 2010 08:30:08 +0000
    NEW DELHI (Reuters) - India may temporarily shut down BlackBerry services if New Delhi's concerns about security are not addressed in a meeting between the government and mobile phone operators on Thursday, government sources said.

  • IT recruiter positive about jobs
    Wed, 11 Aug 2010 08:23:23 +0000
    Recruitment consultant James Goodrich has told the BBC he has seen an increase in applications as people become confident enough again to consider moving jobs.
  • SBI-Macquarie buys stake in Viom Network for $304 mln
    Wed, 11 Aug 2010 08:20:38 +0000
    MUMBAI (Reuters) - Viom Network said on Wednesday SBI-Macquarie Infra Fund has bought a stake in the firm for $304 million.
  • GLOBAL MARKETS - Fed's econ view weighs on stocks, dlr/yen
    Wed, 11 Aug 2010 08:20:27 +0000
    LONDON (Reuters) - The dollar fell towards a 15-year low against the yen while world stocks hit a 1-1/2 week trough on Wednesday after the Federal Reserve's assessment of the U.S. economy turned more pessimistic.
  • Thomas Cook profits hit as hot weather, weak pound keep Brits at home
    Wed, 11 Aug 2010 08:13:03 +0000
    Holiday company warns full-year profits will be at the lower end of expectations following poor trading in the UK and a weaker euro and pound.
  • India gold buying eases as rupee weakens
    Wed, 11 Aug 2010 08:10:48 +0000
    MUMBAI (Reuters) - India's gold buying retreated on Wednesday afternoon from the previous day's pick-up as a weaker rupee, which makes the dollar-denominated yellow metal expensive, outweighed easing international prices, dealers said.
  • Reliance Capital shares jump on RBI note
    Wed, 11 Aug 2010 08:10:38 +0000
    MUMBAI (Reuters) - Shares in Reliance Capital , an Anil Dhirubhai Ambani group firm, rose more than 4 percent on Wednesday after India's central bank said it intends to grant limited number of new bank licences.
  • Baidu, Google and the literal costs of self-censorship
    Wed, 11 Aug 2010 07:56:04 +0000
    "We have to spend a lot of resources to make sure our content and services abide by Chinese law, and
  • BRIEF - Educomp buys stake in Vidya Mandir Classes for 340 mln...
    Wed, 11 Aug 2010 07:50:49 +0000
    REUTERS - Educomp Solutions Ltd :
  • China?s key economic indicator: auto sales
    Wed, 11 Aug 2010 07:47:18 +0000
    In countries like the United States, trends in auto sales tend to tell a great deal about where the
  • Barclays downgrades AMD to 'equal weight'
    Wed, 11 Aug 2010 07:38:33 +0000
    Barclays Capital downgraded the rating of Advanced Micro Devices (AMD) to "equal weight" from "overweight," citing subdued broader PC trends and fierce competition from Intel and Nvidia.
  • Barclays Capital downgrades Seagate to ‘equal weight’
    Wed, 11 Aug 2010 07:37:39 +0000
    Barclays Capital lowered its price target for the disk-drive maker to $14 from $18.
  • ANALYSIS - Surge in Chinese investment reshapes Brazil ties
    Wed, 11 Aug 2010 07:30:26 +0000
    RIO DE JANEIRO (Reuters) - Surging Chinese investment in Brazil is reshaping ties between the countries as companies seek to secure resources and tap the rising consumer class in Latin America's largest economy.
  • Weird things that people get used to in China: part 1
    Wed, 11 Aug 2010 07:28:08 +0000
    The following is a translation of this NetEase article. Today, let?s pay attention to the weir
  • Business Bullet: China, US Fed, Retail, Balfour
    Wed, 11 Aug 2010 07:22:25 +0000
    The latest news on: China, US Fed, Retail, Balfour
  • Nestle confident as emrg market demand boosts sales
    Wed, 11 Aug 2010 07:20:59 +0000
    ZURICH (Reuters) - Global food giant Nestle struck a note of confidence for the rest of the year after strong demand for its brands in emerging markets boosted its sales in the first half.
  • IG Markets close of business report
    Wed, 11 Aug 2010 07:19:53 +0000
    The Australian market sees heavy selling
  • Australian share market closed sharply lower
    Wed, 11 Aug 2010 07:16:56 +0000
    The Australian share market closed sharply lower, dragged down by weaker banks and miners as concerns about the global outlook hampered investor appetite for risk.
  • Barclays Capital downgrades Intel to ‘equal weight’
    Wed, 11 Aug 2010 06:52:56 +0000
    The brokerage lowered its price target on shares of Intel to $23 from $26.
  • China's inflation grows as floods raise prices
    Wed, 11 Aug 2010 06:47:28 +0000
    China's consumer inflation accelerated in July as the nation's worst floods in a decade wiped out crops and disrupted transport links, driving up food prices.
  • Japan data prods BOJ closer to policy action
    Wed, 11 Aug 2010 06:30:28 +0000
    TOKYO (Reuters) - Japanese machinery orders and wholesale prices data on Wednesday were weaker than expected, prodding authorities closer to fresh action to support an already fragile economic recovery.

  • Ed Hardy enters voluntary administration, cites sluggish sales
    Wed, 11 Aug 2010 05:26:09 +0000
    The Australian operations of street wear specialist Ed Hardy has entered voluntary administration as financial adviser Deloitte announced on Wednesday that the clothing company succumb to sales slowdown.

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