Thursday, September 16, 2010

Business News - 16 September 2010

  • Aussie climbs on currency devaluation rumours
    Thu, 16 Sep 2010 09:19:28 -0700
    The Australian currency was slightly higher at Thursday noon as further speculation of quantitative easing in the US and currency devaluations by other countries kept it in a tight range.
  • BSE Sensex seen up by 0.18 pct, unsteady on RBI policy review
    Thu, 16 Sep 2010 09:02:01 -0700
    The Bombay Stock Exchange benchmark Sensex gained 32.14 points, but reversing in opening trade on Thursday's session. Reserve bank of india is going to publish mid-quarter policy review at noon 12.00 pm that is expected to raise interest rates.
  • Jobless claims down for second week in a row
    Thu, 16 Sep 2010 05:43:36 -0700
    The number of Americans filing for first-time unemployment benefits declined for a second straight week last week, a government report released Thursday showed.
  • Weekly jobless claims hit two-month low
    Thu, 16 Sep 2010 05:36:17 -0700
    WASHINGTON (Reuters) - Claims for unemployment benefits unexpectedly fell last week, dropping to a two-month low, according a government report on Thursday that hinted at some stability in the labor market.

  • Foreclosure rates hold steady
    Thu, 16 Sep 2010 05:34:59 -0700
    The foreclosure crisis has entered a new phase: The number of properties entering the foreclosure process has dropped, and now nearly matches the number of repossessions.
  • Jobless Claims in U.S. Unexpectedly Fell Last Week to 450,000
    Thu, 16 Sep 2010 05:34:00 -0700
    Applications for U.S. unemployment benefits unexpectedly fell last week to the lowest level in two months, a sign the labor market is improving.
  • Stocks poised for weak open
    Thu, 16 Sep 2010 05:23:24 -0700
    U.S. stocks were poised to open lower Thursday, as investors digested FedEx's latest results and awaited weekly data on first-time filers for jobless benefits.
  • FedEx: Economy improving but cutting 1,700 jobs
    Thu, 16 Sep 2010 05:21:59 -0700
    Looking at the latest economic reports, the outlook for the recovery may still look a little hazy, and delivery giant FedEx did little to clear up the muddiness Thursday.
  • Natural Gas Erodes Coal’s Share at Power Plants: Energy Markets
    Thu, 16 Sep 2010 05:20:01 -0700
    Natural gas’s unprecedented share of U.S. power generation is likely to keep growing as the biggest price slide in a year and the prospect of stricter pollution rules erode the market for coal.
  • ‘Dangerous’ Igor Intensifies on Course for Bermuda
    Thu, 16 Sep 2010 05:20:00 -0700
    Bermuda issued its first warning for an “extremely dangerous” Hurricane Igor, which intensified today over the Atlantic, while Tropical Storm Karl is forecast to become a hurricane tomorrow in the southern Gulf of Mexico.
  • US-China tensions rise over yuan
    Thu, 16 Sep 2010 05:15:47 -0700
    The US files two new cases against China at the World Trade Organization, amid rising tensions over China's currency.
  • Korean boost for Scotch whisky
    Thu, 16 Sep 2010 05:15:04 -0700
    Scotch whisky is expected to be one of the main beneficiaries of a new free trade deal agreed between Europe and South Korea.
  • Stock futures dip ahead of jobless data
    Thu, 16 Sep 2010 05:14:45 -0700
    NEW YORK (Reuters) - Stock index futures dipped on Thursday ahead of a round of economic data that will include a look at the labor market, while FedEx reported profit that was shy of expectations.

  • Silent call fines raised to £2m
    Thu, 16 Sep 2010 05:14:23 -0700
    Fines of up to £2m, rather than £50,000, may now be imposed on companies that make nuisance silent calls.
  • OFT investigates hotel business
    Thu, 16 Sep 2010 05:12:07 -0700
    The Office of Fair Trading launches a formal investigation into the UK hotel business over alleged price-fixing.
  • Fiat’s Spinoff Plan Approved as Tractors May Beat Ferraris
    Thu, 16 Sep 2010 05:09:00 -0700
    Fiat Industrial SpA, the truck and tractor unit of Fiat SpA, may be a better investment bet than the car-making business, reflecting faster profit growth next year as investors approved Chief Executive Officer Sergio Marchionne’s spinoff proposal today.
  • SNB Keeps Rate on Hold as Franc Threatens Recovery
    Thu, 16 Sep 2010 05:05:00 -0700
    The Swiss central bank kept borrowing costs close to zero as a surging franc threatens to undermine the country’s export-led economic recovery.
  • Android vs. iPhone: Wait just a minute!
    Thu, 16 Sep 2010 05:04:43 -0700
  • How to Fix the Economy: An Expert Panel
    Thu, 16 Sep 2010 05:01:00 -0700
    Tom Keene talks with Bob Shiller, Peter Orszag, and other leading economists on how to "get out of this mess"
  • Robert Wiseman Dairies tumbles as supermarket price war hits profits
    Thu, 16 Sep 2010 05:00:26 -0700
    Shares in the Scottish dairy group dived after it warned intense competition by supermakets would sap profits.
  • Japan PM says ready to step into forex markets again
    Thu, 16 Sep 2010 04:57:57 -0700
    TOKYO (Reuters) - Japan's prime minister signaled on Thursday that authorities would keep intervening to curb yen strength as sagging manufacturing confidence underscored the threat the currency poses to the fragile economic recovery.

  • FedEx profit doubles, but shy of Wall Street view
    Thu, 16 Sep 2010 04:52:47 -0700
    SCHENECTADY, New York (Reuters) - FedEx Corp reported a quarterly profit that more than doubled, but came slightly shy of Wall Street's revised expectations, as a recovery in the global economy sparked demand for the U.S. company's package-delivery services.

  • Motorola buys Aloqa to boost MOTOBLUR platform
    Thu, 16 Sep 2010 04:41:38 -0700
    Motorola said it has acquired privately-held Aloqa GmbH for undisclosed terms to boost its MOTOBLUR mobile service platform.
  • Arab equity investors lost $98 billion in second quarter
    Thu, 16 Sep 2010 04:36:25 -0700
    Arab investors lost $98 billion in the second quarter of the year as equity markets in the region faced a crisis of confidence in the wake of the Greek debt crisis and the negative sentiment following poor earnings at large firms in the region.
  • TIMELINE - India's steps in commodity futures markets
    Thu, 16 Sep 2010 04:30:26 -0700
    MUMBAI (Reuters) - The cabinet on Thursday approved amendments in forward contracts regulation, allowing exchanges to launch options in the commodity market, the government said in a statement.
  • BSE Sensex provisionally closes down 0.3 pct
    Thu, 16 Sep 2010 04:28:45 -0700
    The BSE Sensex provisionally closed 0.3 percent lower on Thursday, led by losses in outsourcers, on resistance after the benchmark index scaled a fresh 32-month high.
  • US futures edge lower, economic data eyed
    Thu, 16 Sep 2010 04:27:28 -0700
    Futures on major U.S. indices point to a lower opening on Thursday ahead of key weekly jobless claims and producer price index data.
  • What Novell's Linux business mean for tech giants?
    Thu, 16 Sep 2010 04:22:32 -0700
    Business software maker Novell Inc's Linux business SuSE could be an attractive target for tech giants ranging from IBM to Oracle due to its virtualization capabilities.
  • US dominates global leading brand list
    Thu, 16 Sep 2010 04:20:58 -0700
    London, Sept.16 (ANI): Britain is no longer home to any of the world s leading brands, according to the influential Best Global Brands index which was published last night.
  • Rate hike won't affect econ growth - Ahluwalia
    Thu, 16 Sep 2010 04:20:38 -0700
    NEW DELHI (Reuters) - India's economic expansion will not be impacted by the central bank's decision to hike policy rates, Montek Singh Ahluwalia, deputy chairman of the Planning Commission said on Thursday.
  • ANALYSIS - Euro zone crisis redux? Not really
    Thu, 16 Sep 2010 04:20:27 -0700
    PARIS (Reuters) - There are days when it looks like deja vu all over again for the euro zone.
  • Govt clears way for futures options in commodities
    Thu, 16 Sep 2010 04:10:27 -0700
    NEW DELHI (Reuters) - The cabinet cleared the way to allow commodities exchanges to launch options on Thursday, a move which should boost liquidity in markets which have already attracted international investors.
  • GLOBAL MARKETS - FX intervention risk continues, euro climbs
    Thu, 16 Sep 2010 04:00:38 -0700
    LONDON (Reuters) - Currency markets struggled to settle down on Thursday after Japan's huge intervention to weaken the yen a day earlier, with investors speculating whether more was to come.
  • Above normal monsoon rains raise harvest concerns
    Thu, 16 Sep 2010 04:00:26 -0700
    NEW DELHI (Reuters) - India's monsoon rains were 19 percent above normal in the week to Sept. 15, the weather office said on Thursday, feeding concern cotton and groundnut harvests could be further delayed in Asia's third-largest economy.
  • UK's UBM continues shopping spree, buys Canon for $287 mln
    Thu, 16 Sep 2010 03:53:58 -0700
    United Business Media bought U.S. tradeshows company Canon Communications for $287 million, its 80th transaction since April 2005.
  • Cabinet approves bill for forward contracts in commodities
    Thu, 16 Sep 2010 03:52:00 -0700
    India Government approved the forward contracts regulation amendment bill, 2010 in the Parliament.
  • Panasonic Toughbook announces arrival in India
    Thu, 16 Sep 2010 03:50:54 -0700
    New Delhi, Sept.16 (ANI-Business Wire India): Panasonic Systems Asia Pacific has introduced five new models of the hard-as-nails laptops namely CF-S9, CF-F9, CF-C1, CF-19, CF-31, in the Indian market, which are all based on Intel(r) CoreT i5 vProT processor. The over-performers are highly reliable and durable allowing the lowest downtime in the industry.
  • Karur Vysya Bank launches travel cards enabled by enStage...
    Thu, 16 Sep 2010 03:50:54 -0700
    Bangalore, Sept.16 (ANI-Business Wire India): enStage, Inc., today announced the launch of Karur Vysya Bank s travel cards enabled by enStage s prepaid card platform.
  • Workers with high level of emotional intelligence 'assets to...
    Thu, 16 Sep 2010 03:50:54 -0700
    Washington, Sept 16 (ANI): A new study from the University of Haifa shows that employees with a high level of emotional intelligence are more dedicated and satisfied at work, compared to other employees.
  • India may allow banks, mutual funds in commodity futures
    Thu, 16 Sep 2010 03:50:26 -0700
    MUMBAI (Reuters) - India will allow banks and mutual funds to trade in commodity futures once parliament approves the Forward Contracts (Regulation) Amendment Bill, the market regulator said on Thursday.
  • Business Bullet: Miners, UK sales, Retailers, Wiseman Dairies
    Thu, 16 Sep 2010 03:36:27 -0700
    The latest news on: Miners, UK sales, Retailers, Wiseman Dairies
  • Top ten brands of 2010
    Thu, 16 Sep 2010 03:33:33 -0700
    Hi-tech firms crowd the ranks, but Coca-Cola hangs on to the top spot.
  • BSE Sensex provisionally closes down 0.3 pct
    Thu, 16 Sep 2010 03:30:49 -0700
    MUMBAI (Reuters) - The BSE Sensex provisionally closed 0.3 percent lower on Thursday, led by losses in outsourcers, on resistance after the benchmark index scaled a fresh 32-month high.
  • Rate hike not to impact portfolio inflows - Ahluwalia
    Thu, 16 Sep 2010 03:30:27 -0700
    NEW DELHI (Reuters) - Foreign portfolio inflows to India will not be impacted by the Reserve Bank of India's (RBI) decision to hike policy rates, Montek Singh Ahluwalia, deputy chairman of the Planning Commission said on Thursday.
  • INTERVIEW - JK Paper to raise funds to expand; shares up
    Thu, 16 Sep 2010 03:20:26 -0700
    NEW DELHI (Reuters) - JK Paper plans to raise about 4.5 billion rupees through a share sale to institutions or rights issue to fund expansion in Orissa, a top official told Reuters, sending its shares up to a year high.

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