Thursday, August 26, 2010

Business - 26 August 2010

  • Vietnam: High Potential, High Risks
    Thu, 26 Aug 2010 07:33:22 -0700
    More than three decades after the end of the Vietnam War, the once-battered country is now one of the most dynamic and promising economies in Southeast Asia.
  • iPad will be unrivalled till next year: iSuppli
    Thu, 26 Aug 2010 07:27:21 -0700
    Apple Inc.’s iPad tablet is unlikely to face a competitor until next year and is set to maintain a dominant share in the tablet market at least through 2012, according to market research firm iSuppli.
  • Christie's Atlantic City Plan
    Thu, 26 Aug 2010 07:25:33 -0700
  • Polly Peck fugitive back in UK
    Thu, 26 Aug 2010 07:16:31 -0700
    Fugitive Polly Peck tycoon Asil Nadir returns to the UK, after evading trial since 1993.
  • Investment advice: Play FTSE with China
    Thu, 26 Aug 2010 07:16:27 -0700
    Fidelity's Tom Ewing: FTSE companies offer investment access to China.
  • Bloomsbury hopes for Potter magic
    Thu, 26 Aug 2010 07:12:42 -0700
    Publisher Bloomsbury hopes a fresh release of Harry Potter books will offer a fillip, after profits fell 48% in the first half of 2010.
  • Companies hoard cash: will it be used for M&A?
    Thu, 26 Aug 2010 07:12:08 -0700
    It is no secret large companies are hoarding cash. Recently, some of them have decided to use them for mergers and acquisitions (M&A).
  • BP’s Wells Says Doesn’t Know Who Was in Charge
    Thu, 26 Aug 2010 07:10:21 -0700
    BP Plc’s Kent Wells, a senior vice president who joined the Gulf of Mexico oil-spill response two days after it began four months ago, said he doesn’t know who was in charge aboard the Deepwater Horizon drilling rig when it exploded in April.
  • Net migration to UK rose in 2009
    Thu, 26 Aug 2010 07:09:42 -0700
    Fewer people came to the country last year but even fewer left, leading to a small overall increase, official figures show.
  • Banks Cut Bonds to Record Low as Lending Expands: Brazil Credit
    Thu, 26 Aug 2010 07:09:00 -0700
    Brazil banks from Banco do Brasil SA to Itau Unibanco Holding SA are reducing government bonds to a record and increasing lending to consumers and companies.
  • Foreclosures fall but new delinquencies rise: MBA
    Thu, 26 Aug 2010 07:08:10 -0700
    NEW YORK (Reuters) - The number of U.S. homes headed for foreclosure fell in the second quarter for the first time since the housing slump began in 2006, but improvements may be fleeting as the number of newly delinquent homeowners rose, a banking group said on Wednesday.

  • Caulk Replaces Show Kitchens at Home Depot, Lowe’s
    Thu, 26 Aug 2010 07:08:00 -0700
    Dyane Townley craves new kitchen counters for her home in Greensboro, North Carolina. Husband Jeff, a Honda Aircraft Co. engineer, wants a bigger back deck. With money tight, the Townleys are putting those dreams on hold.
  • Dell agrees $1.6bn 3Par takeover
    Thu, 26 Aug 2010 07:06:59 -0700
    Computer giant Dell agrees to take over data storage firm 3Par after tabling an improved offer for the company.
  • Murkowski Race With Palin-Backed Foe Awaits Absentees
    Thu, 26 Aug 2010 07:06:00 -0700
    Absentee voters will determine whether Republican Lisa Murkowski of Alaska, seeking reelection to the U.S. Senate, can gain enough ground to withstand a primary challenge by an insurgent endorsed by Sarah Palin and the Tea Party.
  • Ford Steps Up Asia Expansion
    Thu, 26 Aug 2010 07:03:16 -0700
    It'll use India as a base for export.
  • Stocks, Commodities Rise on Claims Data; Treasuries Erase Gains
    Thu, 26 Aug 2010 07:03:06 -0700
    Stocks rose, snapping a five-day slump in the MSCI World Index, and commodities advanced as reports of fewer-than-forecast American unemployment claims and improving earnings tempered concern that the economic recovery was in jeopardy. Treasuries erased gains and the yen weakened.
  • Markets tick higher after jobless claims dip
    Thu, 26 Aug 2010 06:59:54 -0700
    NEW YORK (Reuters) - Stocks rose slightly on Thursday as an unexpected fall in jobless claims helped boost sentiment on the labor market, considered the economy's biggest obstacle to a strong recovery.

  • US jobless claims fall more than expected to 473,000
    Thu, 26 Aug 2010 06:58:02 -0700
    New claims for unemployment benefit dropped sharply in the US last week - but remain much higher than they would be in a healthy economy.
  • Google's move to battle Skype
    Thu, 26 Aug 2010 06:57:13 -0700
    Google announced Wednesday that it will allow users to make phone calls over the Internet through its Gmail service, encroaching on territory that has thus far been dominated by Skype.
  • Jobless claims fall but still elevated
    Thu, 26 Aug 2010 06:55:07 -0700
    WASHINGTON (Reuters) - New claims for unemployment benefits fell more than expected last week but a measure of underlying labor market trends rose to a nine-month high, pointing to a subdued jobs recovery.

  • Stocks get jobs boost
    Thu, 26 Aug 2010 06:53:11 -0700
    Stocks edged higher Thursday, extending gains from the previous session, as investors cheered a better-than-expected report on jobless claims.
  • Jobless claims slide more than expected
    Thu, 26 Aug 2010 06:53:07 -0700
    The number of first-time filers for unemployment insurance fell more than expected last week, according to a weekly government report released Thursday.
  • Making a Facebook magazine
    Thu, 26 Aug 2010 06:47:13 -0700
    Mike McCue has spent a lifetime -- he skipped college and went to work for IBM straight out of high school -- making technology do things the world might not be ready to embrace. In 1989, years before the web took off, he founded Paper Software, which evolved into a browser company. It was acquired by Netscape. In 1999 he launched TellMe, a seemingly futuristic voice-recognition service that lets consumers verbally ask a question (instead of say, typing in a search query) of their smartphone. The service then searches a huge database and delivers
  • Preparing For The Next Black Swan Is Tough
    Thu, 26 Aug 2010 06:45:00 -0700
    Up next could be the Treasury bond bubble, a Chinese real estate meltdown, another flash crash or a slow death by deflation.
  • Google Street View Car Searched by Paris Regulators Yesterday
    Thu, 26 Aug 2010 06:42:04 -0700
    A Google Inc. car used by its Street View mapping service was stopped for inspection in a Paris suburb yesterday by agents of France’s privacy regulator, the National Commission for Computing and Civil Liberties.
  • Dell boosts bid for 3Par, will HP counter-bid?
    Thu, 26 Aug 2010 06:41:42 -0700
    3Par Inc. said it accepted Dell's raised offer of $24.30 a share, which topped Dell's own $18 a share offer and HP's $24 a share bid for the storage company.
  • Look Out Below: The Quants Control The Markets and May Cause Another Crash in Stock Prices
    Thu, 26 Aug 2010 06:35:17 -0700
    "WATCH OUT FOR THE QUANTS," a column I wrote in February, 2008, warned that computer driven buy and
  • Stocks Rise As Jobless Claims Fall, Dell Ups 3Par Bid
    Thu, 26 Aug 2010 06:35:00 -0700
    Computer maker tops HP's offer for data storage firm. Weekly tally of new unemployment claims dips slightly.
  • Special Report: Phil Falcone's riskiest trade ever?
    Thu, 26 Aug 2010 06:33:52 -0700
    NEW YORK/BOSTON (Reuters) - Investing with hedge fund manager Philip Falcone, who oversees about $8 billion at his Harbinger Capital Partners, has required an awfully strong stomach or a fistful of Dramamine.

  • Dell raises bid for 3PAR, trumping HP
    Thu, 26 Aug 2010 06:18:44 -0700
    NEW YORK (Reuters) - Dell Inc raised its bid for data storage company 3PAR Inc to $1.6 billion, offering a slightly higher price than rival bidder Hewlett-Packard Co in an unfolding tech industry bidding war.

  • Goldman Keeps Conviction On Boeing
    Thu, 26 Aug 2010 06:08:00 -0700
    Goldman Sachs sees higher EPS for Boeing and keeps its $84 price target.
  • Forecast From Guess Fails To Impress
    Thu, 26 Aug 2010 06:04:00 -0700
    The company tops earnings estimates but full-year profit outlook sinks the stock.
  • BHP prepares to woo Potash owners
    Thu, 26 Aug 2010 06:03:11 -0700
    SYDNEY/HONG KONG (Reuters) - BHP Billiton's chief executive flies to North America this week to crank up the charm offensive with Potash Corp shareholders, as a potential Chinese rival bidder reiterated it was "closely watching" the $39 billion deal.

  • Is iPad biting sales of Apple's other products?
    Thu, 26 Aug 2010 05:56:12 -0700
    It is almost certain that the soaring popularity of iPad will kill netbook, but does the Apple's flagship gizmo is hurting its own family remains to be seen.
  • Netflix launches App for iPhone, iPod Touch
    Thu, 26 Aug 2010 05:48:42 -0700
    Netflix, Inc. announced the availability of its free Netflix App for iPhone and iPod touch, allowing Netflix members on plans starting at just $8.99 a month to instantly watch a vast selection of TV episodes and movies streamed to their iPhone or iPod touch at no additional cost.
  • US futures point to higher opening after jobs data
    Thu, 26 Aug 2010 05:46:44 -0700
    Futures on major U.S. stock indices pointed a higher opening on Thursday after Department of Labor reported that weekly jobless claims decline first time in the month.
  • BMO reiterates RIM at "outperform"
    Thu, 26 Aug 2010 05:28:40 -0700
    BMO Capital Markets reiterated Research In Motion (RIMM) at "outperform," despite dropping sentiment over security concerns.
  • Rupee's gains pared by import dollar demand
    Thu, 26 Aug 2010 05:20:46 -0700
    MUMBAI (Reuters) - The rupee gained on Thursday aided by a stronger euro and mildly higher domestic shares, but dollar buying by oil firms and some defence-related import payments pulled it off the day's highs.
  • SKF eyes bigger acquisitions, to build Asia plants
    Thu, 26 Aug 2010 05:20:36 -0700
    GOTHENBURG, Sweden (Reuters) - Sweden's SKF , the world's biggest bearings maker, plans to hunt bigger game than usual in its acquisition search and will also spend $75 million on two new plants in Asia.
  • L&T to enter banking sector when laws permit: chairman
    Thu, 26 Aug 2010 05:20:26 -0700
    MUMBAI (Reuters) - Larsen & Toubro Ltd , India's top engineering and construction company, plans to foray into the banking sector when laws allow the entry of new private players, chairman A.M. Naik said on Thursday.
  • Euro rises, supported by higher European shares
    Thu, 26 Aug 2010 05:15:07 -0700
    The euro rose on Thursday as a rise in global share prices prompted investors to pick up riskier currencies, but gains were capped as more weak U.S. economic data indicated the pace of recovery was slowing.
  • Japan Democrat panel wants BOJ to go step further on yen
    Thu, 26 Aug 2010 05:11:38 -0700
    TOKYO (Reuters) - A Japanese ruling party panel discussed currency intervention and recommended on Thursday that the government ask the Bank of Japan to take monetary policy a step further to counter a rising yen, increasing pressure on the central bank to act before its regular meeting next month.

  • Battered BP Thinks Twice About Arctic Oil
    Thu, 26 Aug 2010 05:05:00 -0700
    A foray into environmentally-sensitive Greenland must have looked like a bad idea.
  • Fast money pours into Potash but influence limited
    Thu, 26 Aug 2010 05:00:39 -0700
    NEW YORK (Reuters) - Fast money is building in Potash Corp after BHP Billiton Ltd's $39 billion hostile bid, but the sheer size of the potential deal could limit the sway arbitrageurs and hedge funds have on the outcome.
  • BSE Sensex ends firm; banks, ONGC up, Cairn drops
    Thu, 26 Aug 2010 05:00:27 -0700
    MUMBAI (Reuters) - The BSE Sensex nudged 0.3 percent higher on Thursday, as world stocks rebounded from seven-week lows in another burst of the risk-on, risk-off trading that has dominated financial markets this year, with financials topping the gains.

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