Saturday, August 14, 2010

Business News - 14 August 2010

  • JetBlue Flight Attendant's Big Exit
    Sat, 14 Aug 2010 07:32:20 -0700
  • Zuma Wants Debate on Ownership, Diversity of South African Media
    Sat, 14 Aug 2010 07:14:04 -0700
    South African President Jacob Zuma rejected media criticism over a proposed tribunal to oversee print and broadcast operators and called for “real debate” on ownership, content and diversity of the industry.
  • The business challenges of Ramadan
    Sat, 14 Aug 2010 06:58:48 -0700
    The holy month of Ramadan begins this week, which usually means a busy period for supermarkets and shops.
  • Sing a song of Singapore: Small Asian state an economic powerhouse
    Sat, 14 Aug 2010 06:54:06 -0700
    The small city-state of Singapore, tucked away in southeast Asia, is an economic powerhouse and regional financial hub, that is poised to deliver record-breaking GDP growth of up to 15 percent this year.
  • Saudi Shares Drop for a Fifth Day on Slowing Global Recovery
    Sat, 14 Aug 2010 06:42:00 -0700
    Saudi Arabian shares declined for a fifth day, led by banks and petrochemicals companies after U.S. and European markets retreated this week on concern the global economic recovery is slowing.
  • Payday loans and travel disruption
    Sat, 14 Aug 2010 06:19:54 -0700
    In this week's Your Money Dominic Laurie looks at the problems surrounding payday loans and the battle to get compensation for travel disruption.
  • Russia to consider fate of grain export ban after Oct 1
    Sat, 14 Aug 2010 06:12:50 -0700
    MOSCOW (Reuters) - Russia plans to discuss after October 1 whether to extend a grain export ban into next year, First Deputy Prime Minister Viktor Zubkov told Reuters, after a severe drought ruined vast tracts of the country's grain crop.

  • Germany sticks to debt target despite boom: finance minister
    Sat, 14 Aug 2010 06:08:40 -0700
    BERLIN (Reuters) - Germany will stick to its target to borrow about 65 billion euros ($83.19 billion) this year despite record economic growth and billions in extra tax revenue, the country's finance ministry said on Saturday.

  • GM’s Bad Manners; Gulf Coast’s Resilience: Commentary Review
    Sat, 14 Aug 2010 05:30:04 -0700
    (The following are excerpts from the past week’s Bloomberg News columns. For full text of any column, click on the command below the writer’s name. Opinions are those of the columnists.)
  • Swedish Premier Pledges $2.7 Billion in Tax Cuts as Vote Nears
    Sat, 14 Aug 2010 05:06:05 -0700
    Swedish Prime Minister Fredrik Reinfeldt pledged a further round of tax cuts to reduce unemployment and galvanize economic growth as the Nordic country prepares for general elections next month.
  • Surprise tax cut for the (almost) rich
    Sat, 14 Aug 2010 04:57:16 -0700
    Worried about your taxes going up next year? They might for some high earners. But some not-quite-rich taxpayers could end up with a surprise tax cut.
  • Epic smackdown: Google vs. Oracle
    Sat, 14 Aug 2010 04:54:17 -0700
    Stuck between maintaining an unsettling status quo or causing a damaging but potentially lucrative ruckus, Oracle is going for the ruckus.
  • Will continue watching yen carefully: Japan's PM Kan
    Sat, 14 Aug 2010 04:41:25 -0700
    TOKYO (Reuters) - Japanese Prime Minister Naoto Kan said the yen's sudden rise against the dollar had become a concern and he would continue to watch it carefully, Japanese media reported on Saturday.

  • AppLabs in 2010 Global Services 100
    Sat, 14 Aug 2010 04:20:49 -0700
    AppLabs, a software testing and quality management company, announced that it has been named in the coveted 2010 Global Services 100 (GS100) list for the third straight year. The 5th Annual GS100 study was conducted by Global Services in association with NeoAdvisory, the globalization and sourcing advisory firm. Making it to the GS100 lists for three consecutive years is a testament for AppLabs dedication to thought leadership and innovation in the testing space , said Sashi Reddi Founder, Chairman and CEO, AppLabs. It also underscores AppLabs
  • 'Tuborg Strong' enters Indian beer market
    Sat, 14 Aug 2010 04:20:40 -0700
    Adding to the spirits of the beer industry at large, Carlsberg India has now launched Tuborg Strong - a premium quality beer prepared using best quality malt, adjuncts and hops. The Carlsberg Group known for brewing mild beer globally, made a landmark change by introducing Tuborg Strong in keeping with the demands of the Indian market. In India, the strong beer segment continues to dominate beer consumption with a formidable 76% market share. In a competitive landscape, where the strong beer segment is growing consistently at 21.4% (YTD June comparison
  • Weekly Review: Sensex up by 23 pts
    Sat, 14 Aug 2010 04:20:25 -0700
    The BSE benchmark Sensex ended marginally higher by 23 points to 18,167.03 on the back of rise in interest rate related stocks--realty, consumer durable, banking and auto segments. A further improvement in monsoon rains and sustained heavy buying by foreign funds and strong sales in the month of July, announced by major automobile companies mainly helped the Sensex to rise further for the second consecutive week. Realty stocks were at the forefront on good Q1 results reported by most realty companies. Banking stocks gained after India s largest
  • RIM: Decoding BlackBerry encryption
    Sat, 14 Aug 2010 04:20:16 -0700
    Research In Motion (RIM) is at standstill with the Indian government over demands that the company provide authorities a way to read encrypted email messages that travel across BlackBerry s network. The government said it will shut down RIM s email and messaging services in India if the company doesn t comply with its demands by August 31. Explaination about how the BlackBerry system works and why governments consider as a threat: What steps does RIM take to make sure that the email of its business customers cannot be intercepted by third parties
  • Oracle sues Google over Android software
    Sat, 14 Aug 2010 04:20:06 -0700
    Oracle Corp sued Google Inc, alleging patent and copyright infringement in the development of the popular Android smartphone software. The suit, filed on Thursday in California federal court, claims that Google knowingly, directly and repeatedly infringed Oracle s Java-related intellectual property in developing Android, Oracle spokeswoman Karen Tillman said in a statement. This lawsuit seeks appropriate remedies. Oracle acquired Java through its $5.6 billion purchase of Sun Microsystems earlier this year. Analysts said the suit against Google
  • KLM holds out on ash cash
    Sat, 14 Aug 2010 04:16:46 -0700
    Hundreds of British families are still waiting for compensation from Dutch airline KLM for delays caused by the volcanic ash cloud earlier this year.
  • Obama Says Private Accounts Would Endanger U.S. Social Security
    Sat, 14 Aug 2010 03:20:05 -0700
    President Barack Obama said Republican proposals to have people invest Social Security benefits in private accounts would increase the U.S. budget deficit and put retirement money at risk to “the whims of Wall Street traders.”
  • Obama Family Visits Gulf Coast to Try to Boost Area’s Economy
    Sat, 14 Aug 2010 03:16:07 -0700
    President Barack Obama and his family arrive on Florida’s Gulf coast today for a trip that’s part business and part pleasure, as his administration hopes to provide the region with an economic boost in the aftermath of the BP Plc oil spill.
  • Audit chief defends agency's work
    Sat, 14 Aug 2010 03:10:30 -0700
    The chairman of the Audit Commission has defended its work even though the government has decided to scrap the spending watchdog.
  • KLM holds out on ash compensation
    Sat, 14 Aug 2010 02:02:06 -0700
    Hundreds of British families are still waiting for compensation from Dutch airline KLM for delays caused by the volcanic ash cloud earlier this year.
  • "RBS was two hours from collapse"
    Sat, 14 Aug 2010 02:01:09 -0700
    Former chancellor Alistair Darling describes how RBS was "a couple of hours" from collapse in 2008
  • Citibank inaugurates new customer-friendly branch in Pune
    Sat, 14 Aug 2010 01:03:22 -0700
    Pune,Aug. 14 (ANI-Business Wire India): Citibank India today inaugurated its new state-of-the-art branch premises in Pune at Koregaon Park on the North Main Road.
  • Lawsuit may signal era of Oracle, Google tensions
    Sat, 14 Aug 2010 00:30:28 -0700
    BOSTON/SAN FRANCISCO (Reuters) - Leading Web search provider Google Inc and No.2 business software maker Oracle Corp are not usually viewed as business rivals. But a patent dispute between the two technology companies suggests they see each other as exactly that.
  • HOV Services awarded top BPO Provider on 2010
    Fri, 13 Aug 2010 23:24:26 -0700
    Mumbai, Aug.14 (ANI-Business Wire India): HOV Services Ltd, India s top tier BPO and KPO Company has been awarded the Top BPO provider in three categories namely, Industry Specific BPO Vendors ; Top BPO Vendors and Top FAO Vendor list on industry reputable 2010 Global Services 100(GS 100) survey list.
  • Happy employees may be the key to organizations' success
    Fri, 13 Aug 2010 23:02:39 -0700
    Washington, Aug 14 (ANI): Employee job satisfaction is the key to a company s successful performance, according to a new study.
  • Possible TAM-LAN merger set to create biggest South American...
    Fri, 13 Aug 2010 23:02:39 -0700
    Beijing, Aug 14 (ANI): Leading South American airlines LAN of Chile and TAM of Brazil have announced merger plans, a deal that, if completed, would result in the largest airline operator in the region.
  • Blackberry had always flouted govt norms: Panel
    Fri, 13 Aug 2010 22:02:05 -0700
  • U.S. judge bans planting of genetically engineered beets
    Fri, 13 Aug 2010 20:54:42 -0700
    SAN FRANCISCO (Reuters) - A federal judge on Friday banned the planting of genetically modified sugar beets engineered by Monsanto Co in a ruling that marks a major setback for the biotech giant.

  • Fed's Hoenig: Keeping rates low "dangerous gamble"
    Fri, 13 Aug 2010 19:15:23 -0700
    LINCOLN, Nebraska (Reuters) - The Federal Reserve is undertaking a "dangerous gamble" by keeping rates at near zero for so long, and it must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

  • ANALYSIS - Lawsuit may signal era of Oracle, Google tensions
    Fri, 13 Aug 2010 18:30:28 -0700
    BOSTON/SAN FRANCISCO (Reuters) - Leading Web search provider Google Inc and No.2 business software maker Oracle Corp are not usually viewed as business rivals. But a patent dispute between the two technology companies suggests they see each other as exactly that.
  • Retailers' results may sway stocks
    Fri, 13 Aug 2010 17:55:17 -0700
    NEW YORK (Reuters) - U.S. stock investors will brace for further signs of weakness in the U.S. recovery next week as earnings from key retailers are expected.

  • BofA, Citi added as lead GM IPO underwriters: sources
    Fri, 13 Aug 2010 17:16:05 -0700
    NEW YORK (Reuters) - General Motors Co has added Bank of America Merrill Lynch and Citigroup Inc to the slate of its lead underwriters for its initial public offering, two sources familiar with the situation said on Friday.

  • U.S. retail sales tepid but sentiment finds a footing
    Fri, 13 Aug 2010 16:50:26 -0700
    WASHINGTON (Reuters) - U.S. retail sales rebounded in July but showed hints of lingering economic softness, as did inflation data showing underlying price pressures stuck at their lowest level since the 1960s.
  • BAA and Unite still have scope to avert Bank Holiday strike horror
    Fri, 13 Aug 2010 16:15:27 -0700
    This may just be wishful thinking, but I have high hopes that BAA and Unite, when they meet for talks at Acas on Monday, will manage to thrash out some sort of agreement to avert strike action during the August bank holiday weekend.
  • Coalition appointment of Topshop's Sir Philip Green looks more about PR than pragmatism
    Fri, 13 Aug 2010 16:15:00 -0700
    Recruiting experienced businessmen to help the Government with the business of running the country is a great idea - in theory.
  • Goldman CEO, others get millions from options
    Fri, 13 Aug 2010 16:10:47 -0700
    NEW YORK (Reuters) - Goldman Sachs Group Inc on Friday said several top company officials, including Chairman and Chief Executive Lloyd Blankfein, exercised stock options this week and obtained millions of dollars of profits by selling the resulting shares, regulatory filings show.

  • FEATURE - High-risk pools an early test for health overhaul
    Fri, 13 Aug 2010 16:00:38 -0700
    WASHINGTON (Reuters) - When James Howard was diagnosed with brain cancer in March he did not know how he would pay for radiation treatments costing $87,000 and $2,300 a week for chemotherapy.
  • Wall St Week Ahead: Retailers' results may sway stocks
    Fri, 13 Aug 2010 16:00:27 -0700
    NEW YORK (Reuters) - U.S. stock investors will brace for further signs of weakness in the U.S. recovery next week as earnings from key retailers are expected.
  • BP presses on with 'risky' relief well, as Alabama sues over oil spill
    Fri, 13 Aug 2010 15:27:30 -0700
    BP to keep drilling relief well aimed at sealing its Gulf of Mexico leak - despite fears that opening up the hole again could do more harm than good.
  • UK property value growth slows
    Fri, 13 Aug 2010 15:15:11 -0700
    Growth in UK commercial property values slowed last month as economic uncertainty proved a drag on the market.
  • Gordon Ramsay sells One Potato Two Potato stake
    Fri, 13 Aug 2010 15:10:19 -0700
    Gordon Ramsay is set to collect up to £20m after the Michelin-starred chef agreed to sell his half of One Potato Two Potato, the production company behind his F-word show.
  • The curse of Connaught hits Harry Tincknell Racing
    Fri, 13 Aug 2010 15:04:28 -0700
    Harry Tincknell is a budding racing driver whose father is Mark Tincknell, chief executive of Connaught until he stepped down in early July amid an accounting and profits crisis that has wiped more than £400m from the value of the company.

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