Wednesday, August 25, 2010

Business - 25 August 2010

  • Vornado Tower Near Empire State Building Advances
    Wed, 25 Aug 2010 09:42:00 -0700
    A New York City Council committee approved Vornado Realty Trust’s plans for a 1,200-foot (366- meter) Manhattan skyscraper that’s opposed by the owners of the nearby Empire State Building.
  • Five Ways To Freeze Out Uncle Sam
    Wed, 25 Aug 2010 09:40:00 -0700
    For those who dare to think ahead, today's down market and low interest rates offer great tax saving opportunities.
  • Gas Futures Premium at Narrowest in Seven Years: Energy Markets
    Wed, 25 Aug 2010 09:38:00 -0700
    Natural gas for January delivery is trading at the smallest premium to September futures in seven years as traders speculate that economic growth will slow.
  • Debt Rally Cracking as Double-Dip Fears Haunt: Credit Markets
    Wed, 25 Aug 2010 09:38:00 -0700
    The rally that drove corporate bond prices to the highest in six years is showing signs of strain as worsening economic data rattle investor confidence that the U.S. can avoid relapsing into recession.
  • Mexico Finds 72 Dead in Mass Grave After Shootout Near Texas
    Wed, 25 Aug 2010 09:37:08 -0700
    Mexico’s navy found 72 corpses in a mass grave near the U.S. border following a shootout with an alleged organized crime group.
  • Sanofi Said To Be Unwilling to Raise Genzyme Bid Price
    Wed, 25 Aug 2010 09:37:00 -0700
    Sanofi-Aventis SA is unwilling to pay more than $70 a share for Genzyme Corp. and may consider alternative takeover targets should the transaction fail, according to three people with knowledge of the matter.
  • Stem cell ban: Great for California
    Wed, 25 Aug 2010 09:35:40 -0700
    When federal judge Royce C. Lamberth ruled government funding of embryonic stem cell research unconstitutional, he effectively jammed up research projects started under President Barack Obama's executive order issued in 2009, which reversed President George W. Bush's 2001 ban on funding for embryonic stem cell research. But, the ruling also set California further apart as a mecca for scientists investigating stem cells, and as the first state to receive real financial benefits from the field.
  • How To Leave A Great Legacy
    Wed, 25 Aug 2010 09:35:29 -0700
    Follow these four rules.
  • Credit card debt at an 8-year low
    Wed, 25 Aug 2010 09:35:13 -0700
    The amount of credit card debt consumers are carrying dropped to an eight-year low and delinquencies continued to decline in the second quarter as consumers looked to shore up their savings.
  • BHP Billiton says won't buy Potash "at any cost"
    Wed, 25 Aug 2010 09:33:39 -0700
    MELBOURNE/LONDON (Reuters) - BHP Billiton, the world's biggest miner, tried to dampen expectations it would substantially raise its hostile $39 billion bid for Potash Corp as bumper results showed it has plenty of firepower.


  • Municipal Bond Firms Face Political Giving Disclosure
    Wed, 25 Aug 2010 09:33:00 -0700
    The municipal bond market regulator may force underwriters to disclose more information about their political donations, a move that would show whether banks are evading a ban on using giving to secure deals.
  • Stocks Retreat, Treasuries Gain on Economy; Yen Weakens
    Wed, 25 Aug 2010 09:33:00 -0700
    Stocks slid, Treasuries rose and commodities fell as data on durable-goods orders and home sales fueled concern the economy may fall back into recession. The yen dropped on Japan’s plan to curb appreciation.
  • No Wipeout For PacSun After Wider Loss
    Wed, 25 Aug 2010 09:30:00 -0700
    Teen retailer reports second-quarter loss grows to $23.5 million.
  • New Home Sales Falter But Stocks Look Up
    Wed, 25 Aug 2010 09:30:00 -0700
    New home sales in July fell by 12.4%, well below expectations, but builder stocks are unperturbed.
  • The Spending Habits Of Wealthy Women VS Wealthy Men
    Wed, 25 Aug 2010 09:26:04 -0700
    A new survey about the spending habits of wealthy men and women yields some surprising results. The
  • Fresh flight to Swiss franc as Europe's bond strains return
    Wed, 25 Aug 2010 09:25:27 -0700
    Swiss currency hits high against euro on capital flight after Irish, Greek, and Portuguese bonds come under fire.
  • Arthur Scargill 'expelled' by NUM
    Wed, 25 Aug 2010 09:21:38 -0700
    Former National Union of Mineworkers president Arthur Scargill is told he no longer qualifies for membership of the organisation.
  • Toll Brothers posts a profit - thanks to Uncle Sam
    Wed, 25 Aug 2010 09:21:12 -0700
    Homebuilder Toll Brothers made a profit last quarter -- its first in three years. And it largely has Uncle Sam's tax credits to thank for it.
  • Germany moves towards bank levy
    Wed, 25 Aug 2010 09:12:18 -0700
    Germany's government approves a draft law imposing a levy on banks to cover the costs of any future financial crisis.
  • Yields on U.S. debt continue to drop
    Wed, 25 Aug 2010 09:11:01 -0700
    Treasury yields declined Wednesday, with the yield on the 10-year note holding near a 19-month low, as weak housing data continued to boost demand for the safety of U.S. debt.
  • Sanofi won't go above $70/share for Genzyme: report
    Wed, 25 Aug 2010 09:02:52 -0700
    NEW YORK (Reuters) - Sanofi-Aventis is not willing to pay more than $70 per share for U.S. biotech Genzyme Corp and may look at alternative targets, Bloomberg reported on Wednesday, citing sources familiar with the matter.


  • Sales of New Homes Drops to Record Low
    Wed, 25 Aug 2010 09:01:00 -0700
    Sales of U.S. new homes unexpectedly dropped in July to the lowest level on record, signaling that even with cheaper prices and reduced borrowing costs the housing market is retreating.
  • Shareholders win power to nominate directors
    Wed, 25 Aug 2010 09:00:48 -0700
    The Securities and Exchange Commission on Wednesday voted to make it easier for shareholders to have a bigger say on corporate leadership at publicly-traded companies.
  • Lack of skilled workers threatens recovery: Manpower
    Wed, 25 Aug 2010 09:00:07 -0700
    NEW YORK (Reuters) - Workers with specialized skills like electricians, carpenters and welders are in critically short supply in many large economies, a shortfall that marks another obstacle to the global economic recovery, a research paper by Manpower Inc concludes.


  • Alibaba Conjures Up Some Cash For Auctiva
    Wed, 25 Aug 2010 09:00:01 -0700
    Chinese firm acquires maker of online tools for e-commerce users.
  • Stocks Flatten Out As Housing Stats Sink In
    Wed, 25 Aug 2010 09:00:00 -0700
    July home sales figures were bleak, but that was to be expected given the expiration of federal tax credits.
  • Namibia cbank holds rates, economy seen accelerating
    Wed, 25 Aug 2010 08:54:19 -0700
    Namibia's central bank left interest rates unchanged on Wednesday, saying the economic recovery would continue to gain momentum while rising domestic demand and commodity prices posed upside risks for inflation.
  • S.African CPI at 4-year low, backs case for rate cut
    Wed, 25 Aug 2010 08:51:40 -0700
    South Africa's targeted measure of annual consumer price inflation slowed more than expected in July, official data showed, backing the case for an interest rate cut on September 9.
  • July new home sales tumble to record low
    Wed, 25 Aug 2010 08:51:39 -0700
    WASHINGTON (Reuters) - New U.S. single-family home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, according to government reports on Wednesday that heightened fears the economy was at risk of a new downturn.


  • Nigeria's Access Bank swings to H1 profit
    Wed, 25 Aug 2010 08:50:28 -0700
    Nigeria's Access Bank said on Wednesday it had swung to a 9.81 billion naira pre-tax profit in the half year to June from a loss of 14.33 billion naira a year ago.
  • Elin Nordegren And The New Face Of The Scorned Woman
    Wed, 25 Aug 2010 08:50:07 -0700
    Like Jenny Sanford, Jennifer Aniston and other public women who have weathered the embarrassment of
  • World stocks fall for fifth day; yen dips
    Wed, 25 Aug 2010 08:49:41 -0700
    World stocks fell for a fifth day on Wednesday as worries about a double-dip recession persisted, while the yen eased from a 15-year high on speculation that Japan may intervene to weaken its currency.
  • Egypt pound reaches 3-1/2 year low against dollar
    Wed, 25 Aug 2010 08:47:42 -0700
    The Egyptian pound reached a 3-1/2 year low against the dollar on Wednesday as risk-averse investors switched into U.S. treasuries and traders reported slowing inflows of foreign cash into Egyptian securities.
  • Barnes & Noble says Burkle not fit for board
    Wed, 25 Aug 2010 08:42:23 -0700
    NEW YORK (Reuters) - Barnes & Noble Co said activist investor Ronald Burkle was unqualified to be on its board and accused the billionaire of trying to take over the bookseller through a proxy battle without rewarding shareholders.


  • Shell shuts Nigeria oil flow-station due to protest
    Wed, 25 Aug 2010 08:41:29 -0700
    Royal Dutch Shell said on Wednesday it had been forced to shut down an oil flow-station in Nigeria's Niger Delta due to a protest by a group of local women over a lack of development in their community.
  • Wall St gains ground, Nasdaq turns positive
    Wed, 25 Aug 2010 08:31:17 -0700
    NEW YORK (Reuters) - U.S. stocks cut declines on Wednesday, with the Nasdaq turning positive as healthcare and technology shares gained ground.


  • San Francisco: Up Close And Personal
    Wed, 25 Aug 2010 08:31:04 -0700
    The San Francisco Bay Tour allows pilots to fly over the Oakland Bay Bridge, past Alcatraz Island, o
  • PacSun Widens Loss in Q2
    Wed, 25 Aug 2010 08:30:00 -0700
    Teen retailer Pacific Sunwear (PSUN) said late Tuesday its second quarter loss widened to $23. 5 million,
  • Toll Brothers posts quarterly profit on tax gains
    Wed, 25 Aug 2010 08:24:43 -0700
    NEW YORK (Reuters) - U.S. luxury homebuilder Toll Brothers Inc beat Wall Street expectations and reported its first quarterly profit in three years on Wednesday, sending its shares and those of other homebuilders higher.


  • American Airlines mechanics reject pay deal
    Wed, 25 Aug 2010 08:19:33 -0700
    CHICAGO (Reuters) - Members of American Airlines' mechanics union rejected a contract proposal and authorized union leaders to call a strike, the Transport Workers Union (TWU) said.


  • Rustock botnet largely responsible for worldwide spam
    Wed, 25 Aug 2010 08:06:53 -0700
    Occupying 41 percent of the total spams, Rustock is mostly responsible for the botnet spam, said a report from Symantec MessageLabs Intelligence.
  • Adam Fergusson: Why immigrants are blamed for inflation
    Wed, 25 Aug 2010 08:04:00 -0700
    Adam Fergusson: Citizens blame immigrants for inflation.
  • Chinese Internet Company Alibaba Buys Auctiva
    Wed, 25 Aug 2010 08:00:01 -0700
    Chinas Alibaba. com has agreed to acquire Auctiva, which makes online tools for users of ecommerce sites
  • Cable war between Disney and Time Warner: Who'll win?
    Wed, 25 Aug 2010 07:58:19 -0700
    Not only subscribers, but also the investors of Disney and Time Warner Cable (TWC) are wondering how the heightened clash between the two mega companies over continued carriage of Disney channels will impact the bottom line.
  • Acupuncture Invades Mainstream Medicine. Is That A Good Thing?
    Wed, 25 Aug 2010 07:56:21 -0700
    Should Major Scientific Journals Promote Acupuncture?

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