Tuesday, September 14, 2010

Business News - 14 September 2010

  • Troubled Afghan bank taken over
    Tue, 14 Sep 2010 07:05:27 -0700
    Afghanistan's central bank has stepped in to take control of the troubled Kabul Bank.
  • Inventories in U.S. Increase More Than Forecast as Sales Rise
    Tue, 14 Sep 2010 07:04:00 -0700
    Inventories at U.S. businesses rose in July at the fastest pace in two years as companies stocked up ahead of a back-to-school sales season that proved to be better than projected.
  • Strong growth in US retail sales
    Tue, 14 Sep 2010 07:02:18 -0700
    US retail sales rose 0.4% during August, official figures show, the strongest increase in five months.
  • Make Your Mark campaign culled ahead of public spending cuts
    Tue, 14 Sep 2010 07:01:43 -0700
    Enterprise UK's new chief executive Tom Bewick explains his decision to shift the long-standing organisation's focus from enterprise promotion to embedding what it has learnt in the school system
  • Fate Of Tax Cuts To Be Decided In The Senate
    Tue, 14 Sep 2010 06:58:40 -0700
    As with health care and financial regulatory reform, the Senate will likely determine whether all or
  • Zuma’s Family Deals Risk Support as Empowerment Sours
    Tue, 14 Sep 2010 06:58:00 -0700
    The involvement of South African President Jacob Zuma’s family in a series of controversial business deals has fueled anger among labor unions, whose support helped propel Zuma to power last year, at a time when one in four South Africans is unemployed.
  • Let Go, Customers Control Your Brand
    Tue, 14 Sep 2010 06:56:40 -0700
    There's no doubt about it: CMOs like to lead the charge. That's part of our job, after all. We're th
  • Microsoft Said to Plan Debt Sale, May Boost Dividend
    Tue, 14 Sep 2010 06:56:00 -0700
    Microsoft Corp. is planning to sell debt this year to pay for dividends and share repurchases because too much of its cash is held overseas, according to a person familiar with the matter.
  • Green Mountain to Buy Van Houtte for C$915 Million
    Tue, 14 Sep 2010 06:56:00 -0700
    Green Mountain Coffee Roasters Inc. agreed to buy Van Houtte Inc. for about C$915 million ($891 million), gaining control of the largest coffee services network in North America.
  • Corinthian’s Biggest Believer Hangs on After University Sinks
    Tue, 14 Sep 2010 06:55:11 -0700
    Robert Auer, who manages the Indianapolis-based Auer Growth Fund, has lost more than 60 percent on his investment in Corinthian Colleges Inc. He remains convinced the for-profit university, which was the subject of takeover speculation last week, will rally.
  • Best Buy Tops Profit Outlook on Margin, Foreign Sales
    Tue, 14 Sep 2010 06:55:00 -0700
    Best Buy Co. reported second- quarter earnings that beat analysts’ estimates as consumers bought more smartphones. The shares surged after the company raised its annual profit forecast.
  • Aer Lingus Deepens Talks With British Airways, Rivals
    Tue, 14 Sep 2010 06:55:00 -0700
    Aer Lingus Group Plc is stepping up talks with Oneworld airline alliance leader British Airways Plc and carriers from the rival Star and Skyteam groups as it seeks to decide which of the three global blocs to join next year.
  • It's Always Someone Else's Fault
    Tue, 14 Sep 2010 06:51:23 -0700
    Palm Beach billionaire Jeff Greene has filed a $500 million libel lawsuit against The Miami Herald a
  • Retail sales boosted by back-to-school shoppers
    Tue, 14 Sep 2010 06:51:10 -0700
    The road to economic recovery is still rocky, but American consumers are slowly starting to spend again.
  • Bestselling novel takes a pop at Apple
    Tue, 14 Sep 2010 06:47:01 -0700
  • Tax-free holidays persuade US consumers to get out their credit cards
    Tue, 14 Sep 2010 06:45:37 -0700
    Almost 20 tax-free holidays and heavy discounting helped retail sales in the US bounce back sharply last month.
  • Stocks Slip, But Best Buy Leads Retail Rally
    Tue, 14 Sep 2010 06:45:00 -0700
    Surge in profit for electronics chain highlights improved August sales figures across industry.
  • Social Media Has Scorching Impact On Small Biz
    Tue, 14 Sep 2010 06:45:00 -0700
    LinkedIn, Facebook and Twitter aren't pet rocks. Use them. Now.
  • Ag Plays: The Beans or the Business?
    Tue, 14 Sep 2010 06:42:41 -0700
    Gradually, there are three schools of thought emerging on how to play the Ag Trade. I will give you
  • Stocks falter at the open
    Tue, 14 Sep 2010 06:42:33 -0700
    Stocks opened slightly lower Tuesday as investors shrugged off better-than-expected retail sales data.
  • Wall Street opens flat after retail sales
    Tue, 14 Sep 2010 06:41:20 -0700
    NEW YORK (Reuters) - Wall Street opened little changed on Tuesday as investors locked in profits after recent gains, but better-than-expected retail sales and a raised outlook from Best Buy limited declines.

  • The Right Way to Compensate College Athletes
    Tue, 14 Sep 2010 06:41:19 -0700
    Despite recent arguments that support paying college athletes for their performances, we must not ov
  • BP and partners say most victims not yet entitled to sue
    Tue, 14 Sep 2010 06:33:18 -0700
    WILMINGTON, Delaware (Reuters) - BP and its partners in the blown-out Gulf well said on Monday that thousands of fishermen, seafood processors, restaurants, hotel owners and others may not yet have the right to sue over the spill, according to court papers.

  • Green Mountain Coffee continues shopping spree, buys smaller Canadian rival
    Tue, 14 Sep 2010 06:33:00 -0700
    Fresh from its acquisition of Diedrich Coffee, Green Mountain Coffee Roasters agreed to buy Montreal-based Van Houtte from private equity firm Littlejohn & Co. for C$915 million to boost its Canadian presence.
  • Buffett's Dairy Queen loses frozen yogurt ruling
    Tue, 14 Sep 2010 06:28:19 -0700
    NEW YORK (Reuters) - International Dairy Queen Inc, owned by Warren Buffett's Berkshire Hathaway Inc , has lost a bid to stop a Southern California rival from selling a frozen yogurt with a name similar to its top-selling Blizzard.

  • Get what you want from customer service
    Tue, 14 Sep 2010 06:25:21 -0700
    Press 1 if you're delusional enough to think that the customer service rep you just spoke with actually gives a damn about your $5,000 cellphone bill, your exploded microwave or cancelled-without-notice flight.
  • Former IBM exec gets jailtime
    Tue, 14 Sep 2010 06:24:24 -0700
    Former IBM executive Robert Moffat was sentenced on Monday to six months in a federal prison for insider trading.
  • Nokia hits back with new phones amid turmoil at top
    Tue, 14 Sep 2010 06:22:43 -0700
    LONDON (Reuters) - Nokia unveiled an arsenal of smartphones crucial to its fightback against Apple's iPhone and Research in Motion's BlackBerry after its most fundamental management shake-up in decades.

  • Best Buy posts higher profit and raises outlook
    Tue, 14 Sep 2010 06:21:04 -0700
    NEW YORK (Reuters) - Best Buy reported a higher-than-expected quarterly profit and raised its full-year outlook as it benefited from strength in its mobile phone business, and its shares rose nearly 8 percent.

  • Have a great invention? Build it here
    Tue, 14 Sep 2010 06:20:08 -0700
    Remember the stereotype of the lone inventor, toiling away in the solitude of a garage?
  • Intel's profit view lowered on weaker PC fundamentals: analyst
    Tue, 14 Sep 2010 06:18:59 -0700
    Auriga USA has cut the profit estimates and price target of chip maker Intel Corp on weaker PC fundamentals.
  • Anti-Annuity Sentiment Boils Over Before DOL Hearings
    Tue, 14 Sep 2010 06:12:26 -0700
    Should Congress mandate annuities in 401(k)s and IRAs?
  • Nokia strikes back with new phones for new bosses
    Tue, 14 Sep 2010 06:10:53 -0700
    LONDON (Reuters) - Cellphone maker Nokia unveiled the smartphones its new management team will be fighting with on Tuesday, as it tries to win back market share from Apple and Blackberry.
  • AMD will continue to underperform versus Intel, Nvidia: analyst
    Tue, 14 Sep 2010 06:08:59 -0700
    Advanced Micro Devices (AMD) will continue to underperform competitors Intel and Nvidia on a fundamental as well as a share price basis over the course of the next year, an analyst with Auriga USA said.
  • BBC chairman to stand down next year
    Tue, 14 Sep 2010 06:00:51 -0700
    LONDON (Reuters) - BBC Trust Chairman Michael Lyons, who has come under fire from politicians for the way he oversees the broadcaster, is to step down in May after deciding against seeking a second term.
  • Lavasa files for $425 mln IPO
    Tue, 14 Sep 2010 06:00:28 -0700
    MUMBAI (Reuters) - Indian developer Lavasa Corp filed a draft prospectus on Tuesday to raise up to 20 billion rupees ($425 million) through an IPO, joining a crowded pipeline of property firms looking to tap the equity market to fund growth.
  • August retail sales gain eases new recession fears
    Tue, 14 Sep 2010 06:00:05 -0700
    WASHINGTON (Reuters) - Sales at U.S. retailers posted their largest gain in five months in August on strong receipts at gasoline stations and clothing outlets, further assuaging fears of a double-dip recession.

  • US futures point to a flat open after retail sales data
    Tue, 14 Sep 2010 05:53:59 -0700
    Futures on major U.S. stock indices point to a flat opening on Tuesday after a report showed that retail sales rose more than expected in August.
  • Rio to spend $803 million to meet burgeoning diamond demand in Asia
    Tue, 14 Sep 2010 05:43:10 -0700
    Rio Tinto said on Tuesday it is set to spend $803 million to ramp up production at underground Argyle diamond mine in Western Australia.
  • 10 Costly Mistakes in College Admission
    Tue, 14 Sep 2010 05:42:00 -0700
    It's College Admission Season 10 Costly Mistakes to Avoid It's panic time for more than a million hi
  • Australia's NAB pulls AXA unit bid
    Tue, 14 Sep 2010 05:41:02 -0700
    SYDNEY (Reuters) - National Australia Bank (NAB) withdrew its $12 billion bid for wealth manager AXA Asia Pacific on Tuesday after a second rejection by regulators, opening a door to a bid by rival fund AMP .

  • German investor morale drops into negative territory
    Tue, 14 Sep 2010 05:40:40 -0700
    MANNHEIM, Germany (Reuters) - German investor morale fell to its lowest since February 2009 in September, and the finance minister said growth in Europe's largest economy would slow down next year.
  • Vodafone says appeals to Supreme Court on tax issue
    Tue, 14 Sep 2010 05:40:28 -0700
    NEW DELHI (Reuters) - Vodafone on Tuesday said it has filed an appeal with Supreme Court, after a lower court last week dismissed its petition and ruled that Indian tax authorities had jurisdiction over tax bills in cross-border mergers.
  • April-Aug indirect tax revenue up 45 pct on yr - govt
    Tue, 14 Sep 2010 05:30:38 -0700
    NEW DELHI (Reuters)- India's indirect tax collections for the April- August period rose more than 45 percent from a eyar ago, mirroring optimism by policymakers of the economy achieving 8.5 percent growth in the current fiscal that ends in March 2011.
  • Stubborn UK inflation ignites fears of rate rise
    Tue, 14 Sep 2010 05:16:42 -0700
    Inflation defied expectations of a fall as air fares and clothes prices rose, heaping pressure to start raising interest rates.

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