Saturday, September 4, 2010

Business News - 04 September 2010

  • Hypo Only German Bank to Fail EU Stress Test
    Fri, 03 Sep 2010 23:26:19 -0700
  • Asean Says Obama Summit Reaffirms U.S. Confidence in Region
    Fri, 03 Sep 2010 22:48:06 -0700
    President Barack Obama’s plan to meet Southeast Asian leaders this month reaffirms U.S. trust in a group that’s leading efforts to meet global economic and financial challenges, a regional official said.
  • BP replaces failed blowout preventer on Gulf well
    Fri, 03 Sep 2010 22:16:47 -0700
    HOUSTON (Reuters) - BP Plc successfully replaced a failed blowout preventer from atop its ruptured Gulf of Mexico oil well late on Friday, the top U.S. official overseeing the spill response said.


  • Treasury 10-Year Notes Drop, Yield Curve Steepens on Jobs Gain
    Fri, 03 Sep 2010 21:29:24 -0700
    Treasury 10-year notes and 30-year bonds dropped for a second week for the first time since April as a bigger-than-forecast gain in company payrolls eased concern the U.S. economy was falling into another recession.
  • Obama Pledges New Measures Next Week to Boost Economy and Jobs
    Fri, 03 Sep 2010 21:18:06 -0700
    President Barack Obama promised to roll out “new ideas” to boost growth and spur hiring next week as he embarks on economy-focused trips to the Midwest with less than two months until congressional elections.
  • Enron’s Skilling to Remain in Prison During Appeal, Court Rules
    Fri, 03 Sep 2010 21:03:00 -0700
    Ex-Enron Corp. Chief Executive Officer Jeffrey Skilling, under a court ruling denying him bail, will remain in prison while he appeals his 2006 fraud convictions.
  • Donovan Not Ready to ‘Declare Victory’ on U.S. Housing Progress
    Fri, 03 Sep 2010 21:03:00 -0700
    Home sales, showing new signs of life two years after the credit crunch drove down home prices, must gain more ground before policy makers can “declare victory,” Housing and Urban Development Secretary Shaun Donovan said.
  • Co-Owner of Missing Corot, Sales Agent Spent Time in Prison
    Fri, 03 Sep 2010 21:03:00 -0700
    Tom Doyle and James Carl Haggerty weren’t hobnobbing in Manhattan, Miami or London in early 2007 as the art market was peaking.
  • Goldman Sachs Said to Be Shutting Proprietary-Trading Division
    Fri, 03 Sep 2010 21:01:00 -0700
    Goldman Sachs Group Inc. is disbanding its principal-strategies business, one of the groups that makes bets with the firm’s own money, to comply with new U.S. rules aimed at curbing risk, two people with knowledge of the decision said.
  • Japan Noda warns on yen, suggests joint steps difficult
    Fri, 03 Sep 2010 20:50:28 -0700
    TOKYO (Reuters) - Japanese Finance Minister Yoshihiko Noda said on Saturday Tokyo would take decisive steps to stem the yen's rise when needed, while suggesting that coordinated currency market intervention was a difficult option.


  • China tells state companies to explore Potash bid
    Fri, 03 Sep 2010 20:09:42 -0700
    TORONTO/HONG KONG (Reuters) - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.


  • China tells state companies to explore Potash bid
    Fri, 03 Sep 2010 19:20:27 -0700
    TORONTO/HONG KONG (Reuters) - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.
  • Judge denies bail for former Enron CEO Skilling - court document
    Fri, 03 Sep 2010 19:00:48 -0700
    HOUSTON (Reuters) - A federal appeals court judge on Friday denied bail for former Enron Corp Chief Executive Jeffrey Skilling, according to a court document.
  • Goldman shutting prop trading desk - report
    Fri, 03 Sep 2010 19:00:38 -0700
    NEW YORK (Reuters) - Goldman Sachs Group Inc is closing its principal strategies desk as U.S. regulators try to limit trading risk that major banks take with their money, Bloomberg News reported on Friday.
  • Three Japan banks to set up 100 bln yen corp rehab fund - Nikkei
    Fri, 03 Sep 2010 19:00:26 -0700
    REUTERS - Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp will partner with Development Bank of Japan to set up a corporate turnaround fund aiming to invest about 100 billion yen ($1.19 billion), the Nikkei said.
  • Madoff investors win $12.74 mln in Merkin case
    Fri, 03 Sep 2010 18:14:57 -0700
    NEW YORK (Reuters) - Investors in Gabriel Capital LP, a so-called feeder fund that funneled money to imprisoned swindler Bernard Madoff, were awarded $12.74 million by a panel of three arbitrators, court records show.


  • New Apple iTunes Icon Gets No Love In Blogosphere
    Fri, 03 Sep 2010 18:02:57 -0700
    People love iTunes. They don't all love the new logo, however.
  • Apple Says Ping Has More Than One Million Users
    Fri, 03 Sep 2010 17:40:08 -0700
    That was fast: Apple's music-discovery service leaps to 1 million users in less than 48 hours.
  • Stocks rally as jobs data spurs optimism
    Fri, 03 Sep 2010 17:07:23 -0700
    NEW YORK (Reuters) - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.


  • Taxpayers likely to face initial loss on GM IPO: sources
    Fri, 03 Sep 2010 16:56:01 -0700
    The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.
  • ABI Research: $1.8B To Be Spent On Location-Based Advertising In 2015 | Mobile Marketing Watch
    Fri, 03 Sep 2010 16:45:29 -0700
    ABI Research: $1.8B To Be Spent On Location-Based Advertising In 2015 | Mobile Marketing Watch.
  • UN calls food meeting after Russia's grain export ban extension
    Fri, 03 Sep 2010 16:42:56 -0700
    A day after Russian Prime Minister Vladimir Putin said that the country's ban on grain exports will remain in place until the end of 2011, the United Nations' food agency (FAO) announced an international meeting of policy makers to discuss the recent rise in global food prices.
  • Taxpayers likely to face initial loss on GM IPO: sources
    Fri, 03 Sep 2010 16:33:47 -0700
    NEW YORK/DETROIT (Reuters) - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.


  • Why iTunes Is The William Shatner Of Software
    Fri, 03 Sep 2010 16:32:22 -0700
    Weekend reading: William Shatner is old, a little weird, and he'll do anything for work. So will iTu
  • Shipping sector seeks infra status, moderate freight rates
    Fri, 03 Sep 2010 16:30:57 -0700
    A recent paper released by KPMG on the transport sector brings in recommendations from the shipping, ports, coastal shipping, inland waterways, rail and multi modal transportation sectors. The shipping industry has pressed for its long pending demand of infrastructure status along with bringing the cost of Indian flag on a par with those of the developed maritime nations such as Singapore. It has also asked for freight rates to be moderated, possibly by cargo arrangements made through Transchart. The paper also brings out the current status, industry
  • Back-end logistics must for FDI in multi-brand retail
    Fri, 03 Sep 2010 16:30:41 -0700
    The government has added an element of social benefit to its latest plan for calibrated opening of the multi-brand retail sector to foreign direct investment (FDI). Only those foreign retailers who first invest in the back-end supply chain and infrastructure would be allowed to set up multi-brand retail outlets in the country. The idea is that the firms must have already crated jobs for rural India before they venture into multi-brand retailing. According to the department of industrial policy and promotion (DIPP) which has firmed up the plan,
  • IIFCL asks govt to lift 20% ceiling on lending by its UK...
    Fri, 03 Sep 2010 16:30:05 -0700
    The India Infrastructure Finance Company has asked the government, its promoter, to remove the disabling 20% limit up to which its UK subsidiary IIFCL (UK) can finance an Indian company s overseas borrowing requirement for infrastructure. The state-owned SPV has also sought and received support from the finance ministry and the Planning Commission for a proposal to lend up to 50% of its sanction limit to private infrastructure companies, as against 20% at present. The IIFCL board, which includes finance secretary Ashok Chawla and Planning Commission
  • Controversy Could Help 'Machete' At The Box Office
    Fri, 03 Sep 2010 16:26:22 -0700
    Any controversy around the new film could help it at the box office.
  • Payrolls data offer ray of hope for recovery
    Fri, 03 Sep 2010 16:24:16 -0700
    WASHINGTON (Reuters) - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring was a positive surprise, relieving concerns about a stalling economic recovery.


  • Madoff investors win $12.74 mln in Merkin case
    Fri, 03 Sep 2010 16:20:38 -0700
    NEW YORK (Reuters) - Investors in Gabriel Capital LP, a so-called feeder fund that funneled money to imprisoned swindler Bernard Madoff, were awarded $12.74 million by a panel of three arbitrators, court records show.
  • Gmail - Priority Inbox
    Fri, 03 Sep 2010 16:10:43 -0700
    Gmail ? Priority Inbox. Google just released a personalization feature for Gmail ? where
  • Nigerian economy 'to grow by 10%'
    Fri, 03 Sep 2010 16:04:42 -0700
    Nigeria's economy will hit double-digit growth by the end of 2011 or early 2012, the country's finance minister says.
  • Bank customers in 'dire poverty'
    Fri, 03 Sep 2010 16:02:20 -0700
    Banks are accused of leaving some customers in "dire poverty" after taking money out of their accounts without permission.
  • Obama to address new economic ideas next Wednesday
    Fri, 03 Sep 2010 16:00:26 -0700
    WASHINGTON (Reuters) - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were sceptical he would be able to deliver a big enough package to lift growth significantly.
  • Ex-Goldman programmer wins partial dismissal
    Fri, 03 Sep 2010 15:49:17 -0700
    NEW YORK (Reuters) - A federal judge on Friday dismissed part of a criminal case accusing a former Goldman Sachs Group Inc computer programer of stealing proprietary computer code from the bank's lucrative high-frequency trading platform.


  • House of the future: Stealth toilet, iPad...
    Fri, 03 Sep 2010 15:30:16 -0700
    The expanded energy tax credit gives homeowners a break on green improvements done by the end of 2010. Here are 8 ways to spend your green.
  • Obama to address new economic ideas next Wednesday
    Fri, 03 Sep 2010 15:14:13 -0700
    WASHINGTON (Reuters) - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly.


  • Tough time for iPad knockoffs
    Fri, 03 Sep 2010 15:03:11 -0700
  • Apple's Ping: Spam magnet
    Fri, 03 Sep 2010 15:00:54 -0700
  • Obama's economy boost - don't call it stimulus
    Fri, 03 Sep 2010 15:00:05 -0700
    President Obama is pledging to propose a new package of job-boosting ideas next week -- just don't call it stimulus.
  • Money Matters
    Fri, 03 Sep 2010 15:00:00 -0700
    Ever thought of the fact that that Rs. 2 coin that you hand over with such nonchalance may have a story to tell? The RBI Monetary Museum at Fort Mumbai is a place where many such tales may be found.
  • Dow back in the black for 2010
    Fri, 03 Sep 2010 13:57:44 -0700
    Stocks closed near session highs Friday, with the Dow erasing its losses for the year, as investors welcomed a better-than-expected report on the U.S. job market.
  • Stocks rally on August jobs report
    Fri, 03 Sep 2010 13:21:03 -0700
    Stocks surge on a better-than-expected August non-farm payroll and break a a three-week losing streak.
  • Wetherspoons in an alcohol-induced rage over Diageo's tax stance
    Fri, 03 Sep 2010 13:19:42 -0700
    Oi! Yeah, you! Put down your poncy vodka and listen. No way am I having that Paul Walsh and his "bunch of morons" from Diageo in my pub - unless they change their tune on alcohol tax.
  • Can Burger King rediscover its sizzle?
    Fri, 03 Sep 2010 13:09:26 -0700
    The fast-food chain's new owner hopes to reignite the sizzle in the fight against bigger rival McDonald's.

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