Tuesday, August 24, 2010

Business - 23 August 2010

  • India rupee extends fall: shares, euro losses weigh
    Tue, 24 Aug 2010 09:13:27 -0700
    The Indian rupee extended its drop to fresh one-week lows on Tuesday afternoon tracking losses in the domestic sharemarket and weighed by the euro's fall overseas.
  • BSE Sensex dips: Cairn rises on counter-bid hopes
    Tue, 24 Aug 2010 09:06:42 -0700
    The BSE Sensex fell 0.2 percent on Tuesday with financials leading the losses as weak global equities weighed on sentiment and investors were cautious about the health of the global economic recovery.
  • Sparring Over Bush's Tax Cuts
    Tue, 24 Aug 2010 07:37:59 -0700
  • New Mobile Health-Care Products
    Tue, 24 Aug 2010 07:37:59 -0700
  • US stocks extend losses after housing data
    Tue, 24 Aug 2010 07:37:39 -0700
    US stocks extended their losses on Tuesday after July existing-home sales plummeted to the lowest level in 15 years.
  • July existing home sales plummet to 15-year low
    Tue, 24 Aug 2010 07:37:18 -0700
    The National Association of Realtors (NAR) reported that sales of previously occupied homes fell 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July, the lowest level since May 1995.
  • Virgin Billionaire Branson Cancels Latest Stunt
    Tue, 24 Aug 2010 07:31:52 -0700
    Richard Branson wants to kite-surf across the English Channel. He'll have to wait.
  • Shocking drop in home sales
    Tue, 24 Aug 2010 07:31:44 -0700
    Existing home sales fell sharply in July, declining for a third straight month, as the effects of the expired homebuyer tax credit continued to add turbulence to the housing market.
  • Entrepreneurs' last hope: Washington
    Tue, 24 Aug 2010 07:31:15 -0700
    Many state programs that help small businesses get loans they need to survive or expand are in jeopardy, victims of the economic downturn and state budget gaps.
  • What 6 teachers spend on their students
    Tue, 24 Aug 2010 07:28:40 -0700
  • AIG Coughs Up Another $4 Billion To Uncle Sam
    Tue, 24 Aug 2010 07:26:13 -0700
    Debt sale by insurer's aircraft leasing arm raises funds to trim credit facility with New York Fed.
  • Boehner tells Obama to fire Geithner - CNN
    Tue, 24 Aug 2010 07:25:51 -0700
  • Stocks tumble at the open
    Tue, 24 Aug 2010 07:21:44 -0700
    U.S. stocks slipped 1% at the start of trading Tuesday as global markets tumbled and investors braced for a report on the housing market.
  • $194 billion cash stash fuels tech takeover spree
    Tue, 24 Aug 2010 07:21:25 -0700
    Cash is king, and Big Tech companies have it pouring out their ears.
  • Do high-cost funds pay off?
    Tue, 24 Aug 2010 07:18:19 -0700
    Question: I'm trying to choose between two funds in my 401(k) that invest in the same sector. One has higher fees, but it also performs better. How can I tell if a fund's performance is worth the higher price? --Jordan, San Antonio, Texas
  • Bacon prices sizzle for consumers
    Tue, 24 Aug 2010 07:16:48 -0700
    Bringing home the bacon is getting more expensive.
  • Existing home sales dive 27.2 percent to 15-year low
    Tue, 24 Aug 2010 07:13:20 -0700
    WASHINGTON (Reuters) - Sales of previously owned U.S. homes dropped more steeply than expected in July to their lowest pace in 15 years, an industry group said on Tuesday, implying further loss of momentum in the economic recovery.

  • Stocks Pile Up Losses As Home Sales Slow
    Tue, 24 Aug 2010 07:10:00 -0700
    Decline comes as no surprise given tax credit expiration, but still jars low-volume market.
  • Wall St extends fall after home sales data
    Tue, 24 Aug 2010 07:08:24 -0700
    NEW YORK (Reuters) - U.S. stocks extended losses on Tuesday after data showed sales of previously owned U.S. homes dropped more steeply than expected in July to their lowest pace in 15 years, implying further loss of momentum in the economic recovery.

  • Signs of oil found off Greenland
    Tue, 24 Aug 2010 07:03:52 -0700
    Gas has been discovered off the coast of Greenland after the first drilling for a decade, a sign of a possible oil discovery.
  • The China Syndrome
    Tue, 24 Aug 2010 07:00:00 -0700
    Five reasons why the U.S. can stay ahead of the Middle Kingdom.
  • Stocks, Commodities, Oil Decline on Economy; Yen, Bonds Rally
    Tue, 24 Aug 2010 06:59:06 -0700
    Stocks dropped for a fourth day and commodities fell while the yen strengthened to a 15-year high against the dollar on concern the economic recovery is dissipating. Government bonds rallied.
  • Medtronic Lowers Profit Forecast on Weak Heart-Device Sales
    Tue, 24 Aug 2010 06:56:06 -0700
    Medtronic Inc., the world’s biggest maker of heart devices, fell the most in more than 21 months after the company lowered its profit forecast, citing slowing sales for its defibrillators and spinal products.
  • Distillates Rising to 27-Year High in Survey: Energy Markets
    Tue, 24 Aug 2010 06:56:00 -0700
    U.S. heating oil and diesel inventories probably climbed to a 27-year high as the slowing economic recovery curbed demand, a Bloomberg News survey showed.
  • U.K. Prime Minister Cameron Becomes Father for Fourth Time
    Tue, 24 Aug 2010 06:54:05 -0700
    U.K. Prime Minister David Cameron has become a father for the fourth time, after his wife Samantha gave birth to a daughter during their summer vacation in Cornwall, southwest England.
  • Rise in house prices pushes up Persimmon profits
    Tue, 24 Aug 2010 06:53:48 -0700
    Improvements in the housing market in the first half of 2010 helped drive pre-tax profit at housebuilder Persimmon up ten-fold to £101.4m.
  • Yen hits 15-year high as Japan ponders move
    Tue, 24 Aug 2010 06:41:38 -0700
    NEW YORK (Reuters) - The yen rose to a 15-year high against the dollar and a nine-year peak versus the euro on Tuesday amid fears the global economy is slowing, testing Japanese authorities' resolve to stem the currency's climb.

  • Barnes & Noble posts larger-than-expected loss
    Tue, 24 Aug 2010 06:39:40 -0700
    NEW YORK (Reuters) - Barnes & Noble Inc reported a larger-than-expected quarterly loss on declining sales at its namesake brick-and-mortar stores and costs to develop its Nook electronic book reader.

  • Fed's Evans says risk of double-dip recession has risen
    Tue, 24 Aug 2010 06:35:46 -0700
    INDIANAPOLIS (Reuters) - A double-dip recession is unlikely but the risks of one have risen in the last six months, Chicago Federal Reserve Bank President Charles Evans said on Tuesday.

  • Burger King profit beats estimates
    Tue, 24 Aug 2010 06:24:34 -0700
    NEW YORK (Reuters) - Burger King Holdings Inc reported higher-than-expected quarterly profit as it kept a tight rein on expenses, sending shares up 1.7 percent.

  • Walmart to foray into Russian market
    Tue, 24 Aug 2010 06:10:50 -0700
    Wal-Mart Inc., a leading retail chain in US, is in talks to acquire Kopeika, the third largest food discounter in Russia.
  • Antofagasta share price down on FTSE 100 as H1 profits nearly double
    Tue, 24 Aug 2010 06:10:41 -0700
    Shares in Antofagasta were down on the FTSE 100 in afternoon trading despite the miner reporting a near doubling of its net earnings in the half year ended 30 June.
  • Go underwater with Google Earth 1.1
    Tue, 24 Aug 2010 06:06:37 -0700
    Now the smartphone users can take the ocean in their mobile device by downloading the new Google Earth 1.1 for Android.
  • Dell ready to up bid for 3PAR: report
    Tue, 24 Aug 2010 05:56:15 -0700
    NEW YORK (Reuters) - Dell Inc is preparing to sweeten its bid for 3PAR Inc after its earlier bid was topped by rival Hewlett-Packard Co's $1.6 billion offer for the data storage company, according to a report on Bloomberg's website.

  • Oil falls to $72 a barrel, lowest since July 7
    Tue, 24 Aug 2010 05:50:48 -0700
    LONDON (Reuters) - Oil fell to $72 a barrel on Tuesday, the lowest since early July, pressured by bulging U.S. inventories and concern about the strength of economic recovery and future demand.
  • Cairn Energy confident about Vedanta-Cairn India deal
    Tue, 24 Aug 2010 05:50:37 -0700
    LONDON (Reuters) - Oil explorer Cairn Energy said it was encouraged by drilling results in Greenland, despite failing to find oil, and expressed confidence a planned sale of a majority stake in its India unit to Vedanta Resources would proceed.
  • Rio Tinto declines comment on Potash Corp bid report
    Tue, 24 Aug 2010 05:50:26 -0700
    SYDNEY (Reuters) - Global miner Rio Tinto declined to comment Tuesday on a media report it was weighing a bid with a Chinese partner for takeover target Potash Corp .
  • HP could triumph Dell in 3Par battle, analyst says
    Tue, 24 Aug 2010 05:43:07 -0700
    Hewlett-Packard (HP) is likely to outlast Dell in a protracted bidding war for 3Par Inc. due to its relative size advantage and its presence in the high-end storage market, an analyst with ThinkEquity said adding that Dell could raise its offer for the storage company.
  • BHP profit jump could dampen rivals in Potash bid
    Tue, 24 Aug 2010 05:40:26 -0700
    MELBOURNE (Reuters) - BHP Billiton's monster earnings expected this week could strengthen its hand in its $39 billion bid for fertiliser group Potash Corp and intimidate any rival bidders.
  • Could HSBC Get Stung In Africa?
    Tue, 24 Aug 2010 05:40:00 -0700
    The Nedbank deal sounds good on paper but there are multiple reasons why it's not a great one for HSBC.
  • Zurich Insurance fined £2.28m over data loss
    Tue, 24 Aug 2010 05:31:14 -0700
    Zurich Insurance has been fined a record £2.28 million for losing personal details on 46,000 policyholders, the City watchdog said today.
  • Roxio Lets You Make Your Own ?Avatar? Home Video
    Tue, 24 Aug 2010 05:30:35 -0700
    New suite of software bets big on home 3-D moviemaking.
  • Religare founders to raise stake, make open offer
    Tue, 24 Aug 2010 05:30:28 -0700
    NEW DELHI (Reuters) - Indian financial services firm Religare Enterprises on Tuesday said its founders will spend 8.57 billion rupees to raise their stake by about 9 percent via shares and preferential allotment and make an open offer to acquire a further 20 percent in the company.
  • US dollar drops to 15-year low against yen
    Tue, 24 Aug 2010 05:22:48 -0700
    The dollar fell to as low as 84.34 against yen on Tuesday, its lowest position in 15 years: Nikkei Stock Average declines to 15-moth low as investors spooked by the currency's strength quit Japanese exporters' stocks.
  • ANALYSIS - Possible change in potash pricing worries China
    Tue, 24 Aug 2010 05:20:27 -0700
    SYDNEY/SHANGHAI (Reuters) - China's visceral response to the $39 billion BHP Billiton bid for Potash Corp -- talk abounds of a possible Chinese white knight -- show it fears a concentration of pricing power in the big miner more than the current Russian-Canadian marketing cartel.

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