Wednesday, September 15, 2010

Business - 15 September 2010

  • BSE Sensex moves up by 0.72 percent
    Wed, 15 Sep 2010 09:30:05 -0700
    The Bombay Stock Exchange benchmark Sensex gained 138 points in opening trade on Wednesday's session. All the sectoral indices, led by oil and gas, IT and banking, were trading in positive.
  • Japan Cools Yen, But Effort May Be Futile
    Wed, 15 Sep 2010 08:30:00 -0700
    The Bank of Japan's intervention, while effective in the short-term, will be difficult to maintain through economic uncertainity.
  • We let it slip, King tells unions
    Wed, 15 Sep 2010 08:20:10 -0700
    Bank of England governor Mervyn King blames financial firms and political policy-makers for the financial crisis, admitting: "We let it slip."
  • Tropical Storm Karl Goes Ashore on Mexico’s Yucatan
    Wed, 15 Sep 2010 08:19:00 -0700
    Tropical Storm Karl hit Mexico’s Yucatan Peninsula today and may threaten oil wells in the western Gulf of Mexico, while Hurricane Igor continues on a course toward Bermuda with Category 4-force winds.
  • Examining The Options Flash
    Wed, 15 Sep 2010 08:16:28 -0700
    The problem Ed Boyle sees with flash is not in the theory behind it but rather that it is flawed in
  • Kan Hones ‘Fighting Spirit’ in Authorizing Japan Intervention
    Wed, 15 Sep 2010 08:16:13 -0700
    Naoto Kan took less than 24 hours to deliver the “decisive action” he pledged during a fight to remain Japan’s prime minister, selling the yen to stem criticism his response to a slowing economic recovery was inadequate.
  • U.S. Stocks Fluctuate as Technology, Health Care Shares Gain
    Wed, 15 Sep 2010 08:15:00 -0700
    U.S. stocks fluctuated as gains in technology and health-care companies helped the market recover from an early slump triggered by a lower-than-forecast reading on New York-area manufacturing and slowdown in industrial production growth.
  • NetLogic Microsystems upgraded at UBS Securities
    Wed, 15 Sep 2010 08:14:11 -0700
    UBS Securities upgraded the rating of chipmaker NetLogic Microsystems Inc. on Wednesday to ‘buy’ from ‘neutral’ with a price target of $33.50.
  • Heisman Trophy Controversy Could Mean Big Bucks For Both Bush And Young
    Wed, 15 Sep 2010 08:13:23 -0700
    Vince Young could earn an extra $20 million if he is awarded the Heisman Reggie Bush gave up.
  • Levin Says China’s Yuan Policy Should Prompt WTO Complaint
    Wed, 15 Sep 2010 08:10:04 -0700
    House Ways and Means Committee Chairman Sander Levin, a Michigan Democrat, said the U.S. should file a complaint at the World Trade Organization over China’s currency policies.
  • America's most recession-proof cities
    Wed, 15 Sep 2010 08:07:45 -0700
    When it comes to recession-proof cities,"the Big O" is still on top.
  • King Says Bonuses at Rescued Banks Hard to Understand
    Wed, 15 Sep 2010 08:06:00 -0700
    Bank of England Governor Mervyn King said it’s difficult to understand why banks rescued by the U.K. government are paying large bonuses with the support of taxpayers’ money.
  • Japan May Sell Yen for Second Day to Protect Economy From Gains
    Wed, 15 Sep 2010 08:06:00 -0700
    Japan may intervene in the foreign- exchange market for a second day to stem the yen’s gain to a 15- year high against the dollar and protect its exporters.
  • Citigroup Said to Hire UBS Bankers Led by Trauber
    Wed, 15 Sep 2010 08:04:37 -0700
    Citigroup Inc. hired a group of UBS AG energy investment bankers, including Stephen Trauber, the global head of the business, said two people with knowledge of the matter.
  • Japan intervening in FX during NY hours: source
    Wed, 15 Sep 2010 08:04:22 -0700
    TOKYO (Reuters) - Japan continues to intervene in the currency market during New York trading hours, a Japanese monetary source familiar with the matter told Reuters on Wednesday.

  • Women sue Goldman for alleged discrimination
    Wed, 15 Sep 2010 08:01:32 -0700
    NEW YORK (Reuters) - Goldman Sachs Group Inc was hit with a gender bias lawsuit on Wednesday by women who said Wall Street's most profitable bank maintained an "outdated corporate culture" that systematically deprived them of pay and promotions available to men.

  • AngloGold Ashanti Offers Shares, Bonds
    Wed, 15 Sep 2010 08:00:01 -0700
    AngloGold Ashanti (AU) plans to launch a concurrent equity offering and mandatory convertible notes offering,
  • Gold Rush! Should You Invest, Too? Plus, Rupert Murdoch vs. Sienna Miller
    Wed, 15 Sep 2010 07:55:29 -0700
    Today the blogosphere made like it was California circa 1848 and rushed for pots of gold. Surprising
  • US stocks waver in early trade
    Wed, 15 Sep 2010 07:53:17 -0700
    US stocks wavered between small gains and losses in the early trade on Wednesday as weaker-than-expected data on New York-area manufacturing weighed on the sentiment.
  • Second-hand car complaints soar
    Wed, 15 Sep 2010 07:49:10 -0700
    Complaints from second-hand car buyers rose by 18% in the first six months of the year, the Office of Fair Trading says.
  • Gartner Analyst Says Tech's Security Shopping Spree "Not A Real Trend"
    Wed, 15 Sep 2010 07:49:07 -0700
    If the M&A activity in security continues, he says, it will be due to "the lemming effect."
  • Stocks Swirl On Economic News, Yen Move
    Wed, 15 Sep 2010 07:40:00 -0700
    Lackluster batch of economic data and Japan's currency intervention hold stocks down Wednesday.
  • EU seeks to limit 'Wild West' short-selling, OTC derivatives
    Wed, 15 Sep 2010 07:39:59 -0700
    The European Commission, the executive branch of the European Union (EU), has proposed new measures designed to bring more transparency to the practice of "short-selling" securities and over-the-counter (OTC) derivatives -- high-risk, speculative activities that were widely blamed for creating market instability and precipitating the global financial crisis.
  • WTO to rule on Boeing subsidies
    Wed, 15 Sep 2010 07:35:46 -0700
    The World Trade Organisation is set to make its latest ruling in a battle between planemaking giants Boeing and Airbus.
  • Twitter Seeing 90 Million Tweets Per Day, 25 Percent Contain Links
    Wed, 15 Sep 2010 07:35:00 -0700
    Twitter Seeing 90 Million Tweets Per Day, 25 Percent Contain Links. At today's Twitter news event, c
  • Japan tries to rein in rising yen
    Wed, 15 Sep 2010 07:34:33 -0700
    The Japanese government has decided to intervene in the currency markets in an effort to rein in its skyrocketing yen. In a somewhat rare move, Japan's Ministry of Finance announced that it would sell yen and buy U.S. dollars.
  • Stocks drift in the early going
    Wed, 15 Sep 2010 07:31:45 -0700
    Stocks turned higher Wednesday, as investors digested a report showing a slowdown in maufacturing and the U.S. dollar gained strength after Japan moved to rein in the surging yen.
  • Relationship Between Big and Small Business Isn't Easy To Quantify
    Wed, 15 Sep 2010 07:30:08 -0700
    There's an undeniable link between the success of small and large businesses. But quantifying it? No
  • Androids update faster than iPhones
    Wed, 15 Sep 2010 07:28:15 -0700
  • Japan moves to combat rising yen
    Wed, 15 Sep 2010 07:28:07 -0700
    Finance Minister Yoshihiko Noda says Japan has taken action to weaken the yen, after it hit a 15-year high against the dollar.
  • Stocks turn positive, healthcare rises
    Wed, 15 Sep 2010 07:27:27 -0700
    NEW YORK (Reuters) - Stocks cut initial losses to edge higher on Wednesday as gains in healthcare and technology shares offset earlier profit-taking after weak economic data.

  • Lehman seeks $3 billion from CIBC, others in lawsuits
    Wed, 15 Sep 2010 07:25:57 -0700
    NEW YORK (Reuters) - Lehman Brothers Holdings Inc, which filed for bankruptcy exactly two years ago, has sued Canadian Imperial Bank of Commerce and dozens of other defendants to recover more than $3 billion of which it said it was deprived due to the bankruptcy filing.

  • Edwards owners explore disposal
    Wed, 15 Sep 2010 07:24:18 -0700
    Edwards, the British engineering company which has been leading the development of vacuum technology for almost a century, has hired investment bankers to start planning a £1.5bn sale or flotation.
  • Dividend hikes, M&As to perk up US banking sector
    Wed, 15 Sep 2010 07:20:39 -0700
    U.S. banks could raise their dividends and the sector could witness an increase in M&As amid new Basel III regulations that provided much clarity on financial firms' capital allocation.
  • To Dip Or Not To Double-Dip
    Wed, 15 Sep 2010 07:20:00 -0700
    Stocks are no longer bargains, but we are nowhere close to the serious overvaluation of 1998 and 2006.
  • WTO hands over confidential report on Boeing aid
    Wed, 15 Sep 2010 07:18:41 -0700
    GENEVA (Reuters) - The World Trade Organization delivered an interim ruling on Wednesday into the legality of U.S. government support for Boeing which will help determine the outcome of a transatlantic aerospace industry row.

  • Will Sun smile on Oracle’s Q1?
    Wed, 15 Sep 2010 07:10:34 -0700
    The market is expecting Oracle to post solid results driven by its recent acquisition of Sun Microsystems.
  • Bank of England governor Mervyn King attacks bank bonuses and excessive pay
    Wed, 15 Sep 2010 07:08:53 -0700
    Mervyn King has launched a savage attack on bank bonuses and excessive pay, telling unions they were right to be angry about the financial chaos caused by banks.
  • Genzyme confirms 1,000 job cuts over 15 months
    Wed, 15 Sep 2010 07:00:50 -0700
    BOSTON (Reuters) - Genzyme Corp said it expects a broad cost-cutting program that includes laying off 1,000 employees over 15 months will boost profitability and allow it to invest in areas crucial to its business, such as manufacturing.

  • Industrial output growth slows
    Wed, 15 Sep 2010 06:47:22 -0700
    WASHINGTON (Reuters) - Industrial output rose at a slower pace in August and a measure of New York state business conditions slipped to the lowest level in more than a year, according to data on Wednesday that suggested the economy was cooling but not stalling.

  • Soros says gold rally may continue, not safe
    Wed, 15 Sep 2010 06:40:39 -0700
    NEW YORK (Reuters) - Billionaire financier George Soros said on Wednesday that gold prices might continue to rise after hitting record highs this week but it is not a safe bet.
  • Wall St set to fall on data, profit-taking
    Wed, 15 Sep 2010 06:40:27 -0700
    NEW YORK (Reuters) - Wall Street was poised for a lower open on Wednesday with investors set to consolidate recent gains as a gauge of regional manufacturing unexpectedly fell in September.
  • U.S. regional factory activity slows, import prices up
    Wed, 15 Sep 2010 06:30:28 -0700
    WASHINGTON (Reuters) - Factory activity in New York state was the slowest in more than a year in September, while a jump in U.S. import prices last month hinted at an uptick in imported inflation.
  • Soros says Japan right to intervene on yen
    Wed, 15 Sep 2010 06:20:40 -0700
    NEW YORK (Reuters) - Billionaire financier George Soros said on Wednesday that Japan was right to intervene in foreign exchange markets to bring down the value of the yen.
  • Software piracy costs $142 billion, 500,000 jobs globally
    Wed, 15 Sep 2010 06:13:17 -0700
    Cutting software piracy by 10 percentage points in the next four years would infuse $142 billion into the global economy and help create around 500,000 new jobs.

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