Tuesday, August 17, 2010

Business - 17 August 2010

  • Facebook Partnership Proven by $3,000 Check, Lawyer Claims
    Tue, 17 Aug 2010 07:56:00 -0700
    The western New York man suing over claims he owns 84% of Facebook has a copy of a $3,000 cashier’s check
  • Oil Supply Falling to Four-Week Low in Survey: Energy Markets
    Tue, 17 Aug 2010 07:56:00 -0700
    U.S. oil inventories probably fell to a one-month low last week as imports tumbled, a Bloomberg News survey showed.
  • M&T Climbs Most Since June After Report Santander Talks Resumed
    Tue, 17 Aug 2010 07:50:03 -0700
    M&T Bank Corp. rose the most in two months in New York trading after reports that the Buffalo, New York-based lender restarted discussions about combining with Banco Santander SA.
  • Home Depot Beats on Earnings, Misses on Sales
    Tue, 17 Aug 2010 07:50:00 -0700
    Home Depot (HD) ported earnings today that beat analyst expectations, but its sales figures fell short
  • European Stocks Rise on Earnings; Carlsberg, Wienerberger Gain
    Tue, 17 Aug 2010 07:48:00 -0700
    European stocks advanced after Carlsberg A/S increased its earnings forecast and Wienerberger AG returned to profit, boosting confidence that the economic recovery can be sustained.
  • Obama wants new model for Fannie, Freddie
    Tue, 17 Aug 2010 07:47:56 -0700
    WASHINGTON (Reuters) - The Obama administration called for "fundamental change" at Fannie Mae and Freddie Mac, but a long, politically explosive debate lies ahead on the future of the bailed-out mortgage finance giants and U.S. housing policy.

  • Cancer costs the world nearly $1 trillion
    Tue, 17 Aug 2010 07:47:46 -0700
    Cancer researchers announced Tuesday that cancer costs the global economy nearly $900 million a year -- more than any other cause of death.
  • Mattel accused in Bratz battle of spying on rivals
    Tue, 17 Aug 2010 07:41:35 -0700
    NEW YORK (Reuters) - Mattel Inc was accused by rival MGA Entertainment Inc of spying on rival toy companies for at least 15 years and defrauding it out of secret details on more than 50 products, in an escalation of the battle over the popular Bratz dolls.

  • Judge calls Barclays settlement sweetheart deal
    Tue, 17 Aug 2010 07:40:15 -0700
    WASHINGTON (Reuters) - The federal judge considering the settlement between Barclays Bank Plc and the Justice Department over criminal charges that it violated U.S. trade sanctions called it on Tuesday a "sweetheart deal."

  • Potash Corp. Board Rejects $39 Billion Offer From BHP
    Tue, 17 Aug 2010 07:35:00 -0700
    Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer, rejected an unsolicited $39 billion takeover proposal from BHP Billiton Ltd. as too low, prompting speculation of a higher bid.
  • Stocks plod higher
    Tue, 17 Aug 2010 07:34:19 -0700
    U.S. stocks rose modestly Tuesday as investors shifted their focus to better-than-expected earnings from retail giants Wal-Mart and Home Depot, but still remained cautious about the recovery amid mixed economic reports.
  • James Dyson Award: the best inventions of 2010
    Tue, 17 Aug 2010 07:33:48 -0700
    Inventor Sir James Dyson's annual design competition has attracted inventions from around the world. Here are pictures of the international winners.
  • Pactiv Agrees to $4.5 Billion Takeover by Rank Group
    Tue, 17 Aug 2010 07:32:00 -0700
    Pactiv Corp., the maker of Hefty trash bags, agreed to be bought by Rank Group Ltd. for about $4.5 billion, helping the New Zealand packaging company expand in takeout-food containers and cutlery.
  • High-Frequency Traders Get A New Name
    Tue, 17 Aug 2010 07:30:00 -0700
    Firms form new ''Principal Traders Group.'' The start of a financial industry rebranding wave?
  • Auctions Make Bank at Pebble
    Tue, 17 Aug 2010 07:28:40 -0700
    Sunday was the final night of the Gooding & Co. auctions at Pebble Beach Concours d'Elegance. It
  • Hefty Bag maker bought for $6B; stock jumps 5%
    Tue, 17 Aug 2010 07:28:16 -0700
    Pactiv Corp.'s stock jumped 5% Tuesday after the maker of Hefty trash and sandwich bags said Reynolds Group Holding would acquire it for $6 billion.
  • On The Front Line In China: Challenging Business Ethics
    Tue, 17 Aug 2010 07:27:57 -0700
    Last week brought a reminder of China?s troubling business ethics landscape when the governmen
  • Top 15 CEO overachievers
    Tue, 17 Aug 2010 07:25:10 -0700
    Which Fortune 100 CEOs led their companies to outperform the S&P 500 last year -- and collected the lowest pay for their efforts?
  • U.S., UK rating face greater downgrade risk: Moody's
    Tue, 17 Aug 2010 07:24:36 -0700
    NEW YORK (Reuters) - Moody's Investors Service said on Tuesday the top AAA ratings of the United States, Great Britain, France and Germany are well positioned but face new challenges that increase the possibility of a downgrade.

  • Geithner: Quit crying over Fannie's losses
    Tue, 17 Aug 2010 07:19:58 -0700
  • Court OKs billion-dollar payout to Magna chairman
    Tue, 17 Aug 2010 07:16:14 -0700
    TORONTO (Reuters) - A Canadian judge approved on Tuesday a plan by Magna International to pay founder Frank Stronach close to a billion dollars in exchange for giving up control of the auto parts giant he started from scratch as a young Austrian immigrant to Canada.

  • U.S. Household Debt Shrank 1.5% in the Second Quarter, Fed Says
    Tue, 17 Aug 2010 07:16:05 -0700
    U.S. household debt fell 1.5 percent in the second quarter as consumers reduced mortgages and credit- card accounts, according to the Federal Reserve Bank of New York.
  • Home Depot Profit Tops Estimates as U.S. Sales Rise
    Tue, 17 Aug 2010 07:15:00 -0700
    Home Depot Inc., the largest U.S. home-improvement retailer, reported second-quarter profit that exceeded analysts’ estimates as U.S. sales rose 1 percent amid high unemployment.
  • GM recalls 240,000 SUVs
    Tue, 17 Aug 2010 07:06:07 -0700
    General Motors is recalling a total of 243,403 of its popular large crossover SUVs for a problem that could damage the rear seatbelt buckles. Most of the recalled vehicles are in the United States.
  • 10 Tax Hikes Facing Businesses
    Tue, 17 Aug 2010 07:03:13 -0700
    Tax items will be at the top of the legislative agenda when Congress returns to Washington in Septem
  • Wall Street rises after Wal-Mart, Home Depot results
    Tue, 17 Aug 2010 07:00:50 -0700
    NEW YORK (Reuters) - Wall Street rose on Tuesday after bellwether retailers Wal-Mart and Home Depot recorded better-than-expected profits, even as Wal-Mart cautioned about the strength of the U.S. consumer.

  • Scoreloop Partners With Chunghwa Telecom To Launch Branded Game Center
    Tue, 17 Aug 2010 07:00:27 -0700
    Social game networks for mobile phones are this season's must-have for telecom operators.
  • BHP Billiton bids $39 billion for Potash Corp
    Tue, 17 Aug 2010 07:00:00 -0700
    TORONTO (Reuters) - BHP Billiton launched an unsolicited $38.6 billion takeover bid for Potash Corp, an offer that the world's largest fertilizer maker promptly rejected on Tuesday as "grossly inadequate."

  • Wal-Mart earnings rise
    Tue, 17 Aug 2010 06:50:22 -0700
    Wal-Mart Stores Inc. reported a slightly better-than-expected second-quarter profit but missed sales estimates Tuesday, as customers of the world's largest retailer continued to curb spending. The company also raised its guidance for the full fiscal year.
  • Wall Street Inspired By Wal-Mart, Home Depot and Potash Offer
    Tue, 17 Aug 2010 06:45:56 -0700
    Investors are encouraged by mix of M&A activity, strong earnings reports and better-than-expected July PPI.
  • Wal-Mart says consumers still wary
    Tue, 17 Aug 2010 06:36:53 -0700
    CHICAGO (Reuters) - Wal-Mart Stores Inc posted its fifth-consecutive quarterly drop in U.S. same-store sales and said it would focus on curbing expenses to help boost profits this year as consumer sentiment remains soft.

  • BMW China to recall imported cars
    Tue, 17 Aug 2010 06:30:28 -0700
    BEIJING (Reuters) - BMW China will recall imported BMW 5 series GT cars from Friday, due to problems with the fuel tank that can cause stalling, China's product safety watchdog said on Tuesday.
  • GM to recall more than 243,000 vehicles
    Tue, 17 Aug 2010 06:29:45 -0700
    DETROIT/WASHINGTON (Reuters) - General Motors Co will recall more than 243,000 model year 2009/2010 crossover sport utilities, mainly in the United States, to inspect safety belts for possible damage, the automaker said on Tuesday.

  • Russell Simmons On 2010 Cash Kings
    Tue, 17 Aug 2010 06:22:08 -0700
    A look at this year?s top earners with the godfather of Hip Hop.
  • Russell Simmons On 2010 Cash Kings
    Tue, 17 Aug 2010 06:22:08 -0700
    A look at this year?s top earners with the godfather of Hip Hop.
  • Blackburn confirm talks with prospective Indian owner
    Tue, 17 Aug 2010 06:20:39 -0700
    LONDON (Reuters) - An Indian entrepreneur considering a takeover bid for Blackburn Rovers says he will give manager Sam Allardyce up to 100 million pounds ($154.7 million) to spend on new players if the bid succeeds.
  • Some Fairfield Sentry Investors Knew About Madoff Ponzi Scheme and Profited
    Tue, 17 Aug 2010 06:14:17 -0700
    The liquidators of the biggest Madoff feeder fund have launched lawsuits against its investors and s
  • Eli Lilly Alzheimer?s Drug Made Patients Worse
    Tue, 17 Aug 2010 06:07:37 -0700
    An Eli Lilly drug's dramatic failure raises big questions.
  • Housing starts rise less than expected
    Tue, 17 Aug 2010 06:07:04 -0700
    WASHINGTON (Reuters) - Housing starts rose but to a much weaker rate than expected in July, while permits for future home construction fell to their lowest level in more than a year, pointing to a weak economic recovery.

  • HP Buys Bug-Hunting Business Fortify
    Tue, 17 Aug 2010 06:05:20 -0700
    The tech giant wants Fortify's fast-growing sales of secure coding tools.
  • Hip-Hop Cash Kings
    Tue, 17 Aug 2010 06:00:00 -0700
    Even in a shaky economy, rap's richest keep finding ways to thrive.
  • Cash King Palaces
    Tue, 17 Aug 2010 06:00:00 -0700
    Hip hop's highest earners feel the real estate pinch.
  • Cars Of The Cash Kings
    Tue, 17 Aug 2010 06:00:00 -0700
    The latest fashion for the world's top rappers: modifying six-figure rides into stealth vehicles.
  • Business Bullet: Inflation, Markets, Gartmore, Oil
    Tue, 17 Aug 2010 04:01:48 -0700
    The latest news on: Inflation, Markets, Gartmore, Oil
  • Savers' face 'impossible struggle' to beat inflation
    Tue, 17 Aug 2010 03:55:47 -0700
    Savers face an "impossible struggle" to stop their savings losing value, financial experts said after official figures showed inflation was still well above target.

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