Monday, September 20, 2010

Business News - 20 September 2010

  • India rupee rise trimmed as importers buy dlrs
    Mon, 20 Sep 2010 09:56:17 -0700
    The Indian rupee trimmed its gains in afternoon session on Monday as oil firms and importers bought dollars after the unit rose to its highest level in three months earlier in the session, dealers said.
  • BSE Sensex hits 32-month high for 6th day, techs up
    Mon, 20 Sep 2010 09:53:57 -0700
    The BSE Sensex topped 32-month highs for the sixth session in a row on Monday, boosted by surging foreign portfolio investments in the rapidly expanding economy.
  • 'Boring' Clorox Excites Wary Investors
    Mon, 20 Sep 2010 08:01:18 -0700
    Consistent results and a low exposure to currency swings have helped investors feel safe buying shares of the S&P 500's least-volatile stock
  • GM looks at electric-only car
    Mon, 20 Sep 2010 07:58:25 -0700
    General Motors is building an experimental fleet of electrically powered Chevrolet Cruze compact cars that will have a driving range of up to 100 miles without using any gasoline.
  • Longest recession since World War II
    Mon, 20 Sep 2010 07:55:02 -0700
    The Great Recession ended in June 2009, according to the body charged with dating when recessions begin and end.
  • Recession ended in June 2009: NBER
    Mon, 20 Sep 2010 07:51:29 -0700
    WASHINGTON (Reuters) - The recession ended in June 2009, making it the longest downturn since World War Two, the National Bureau of Economic Research said on Monday.

  • Lloyds says CEO Daniels to retire
    Mon, 20 Sep 2010 07:49:03 -0700
    LONDON (Reuters) - British part-nationalized lender Lloyds Banking Group said its chief executive, Eric Daniels, is to retire next year.

  • States redirect aid meant for teachers
    Mon, 20 Sep 2010 07:47:54 -0700
    What Congress giveth, governors taketh away.
  • Homebuilder sentiment unexpectedly flat in September
    Mon, 20 Sep 2010 07:46:16 -0700
    WASHINGTON (Reuters) - Homebuilder sentiment unexpectedly held steady in September, according to a survey on Monday that pointed to a still-weak housing market.

  • UN millennium goals 'can be met'
    Mon, 20 Sep 2010 07:39:08 -0700
    UN chief Ban Ki-moon says global targets to reduce poverty and hunger by 2015 can still be met, as world leaders gather for a summit in New York.
  • Gold edges up to a new record
    Mon, 20 Sep 2010 07:37:05 -0700
    Gold touched a new record Monday, marking the fourth time the precious metal hit a new high in less than a week.
  • Nasdaq jumps 1 percent, S&P above key level
    Mon, 20 Sep 2010 07:36:42 -0700
    NEW YORK (Reuters) - Stocks extended gains on Monday, with the Nasdaq Composite jumping more than 1 percent and the S&P 500 at a four-month high and topping a key technical level.

  • IBM offers $1.7 billion for Netezza Corp
    Mon, 20 Sep 2010 07:36:27 -0700
    NEW YORK (Reuters) - IBM Corp said on Monday it would buy software and business analytics company Netezza Corp for $1.7 billion to expand beyond the computer hardware business.

  • IBM may have to fight for Netezza
    Mon, 20 Sep 2010 07:36:10 -0700
    IBM agreed on Monday to buy analytics firm Netezza for $1.7 billion, or $27 a share, but investors quickly sent the company's stock up above the bid price -- a signal that traders believe a bidding war could be looming.
  • AT&T upgraded at Credit Suisse
    Mon, 20 Sep 2010 07:34:10 -0700
    The brokerage also raised its rating on telecommunications services sector to 'overweight' from 'market weight'.
  • Retailers to boost holiday temp jobs
    Mon, 20 Sep 2010 07:33:59 -0700
    Keeping your fingers crossed for a temp job during the holiday shopping rush?
  • US stocks advance in early trade
    Mon, 20 Sep 2010 07:27:09 -0700
    US stocks advanced in early trade on Monday to extend a three-week rally as better than expected earnings from Lennar and Moody’s stable outlook on UK boosted sentiment.
  • Tetley set to revive its tea folk
    Mon, 20 Sep 2010 07:21:16 -0700
    An advertising campaign is set to revive Tetley's animated tea folk, which were dropped after 28 years in 2002.
  • Lloyds says bank chief to retire
    Mon, 20 Sep 2010 07:15:48 -0700
    The chief executive of the Lloyds Banking Group, Eric Daniels, is to retire in a year's time.
  • Johnson & Johnson's troubled times
    Mon, 20 Sep 2010 07:13:15 -0700
    Criminal investigations, "phantom" recalls and executive oustings are exposing a dark side of Johnson & Johnson, once considered a pillar of American industry.
  • Think tank says 'no double dip'
    Mon, 20 Sep 2010 07:12:22 -0700
    The world economy is not heading for a double-dip recession, the Centre for Economics and Business Research predicts.
  • Spirit Airlines files to go public
    Mon, 20 Sep 2010 07:09:41 -0700
    Spirit Airlines, Inc. is going public.
  • Special Report: Welcome to Nokia, Mr Elop
    Mon, 20 Sep 2010 07:04:17 -0700
    LONDON/HELSINKI (Reuters) - The company many see as among the most innovative in the world is a strange mix of intensity and laid-back cool. Its products are revolutionary and have transformed an entire industry, says the author of a definitive history of the firm. The mobile phones it makes, says one executive, are a perfect fusion of form and function, both "beautiful and practical".

  • Best bank stocks to buy now
    Mon, 20 Sep 2010 07:03:46 -0700
  • Genzyme's osteoarthritis treatment Synvisc approved in Japan
    Mon, 20 Sep 2010 06:53:29 -0700
    Genzyme Corp said that Japan's Ministry of Health, Labour and Welfare has approved Synvisc, indicated for the treatment of osteoarthritis of the knee.
  • Stocks open modestly higher
    Mon, 20 Sep 2010 06:47:09 -0700
    U.S. stocks edged higher early Monday as investors geared up for a busy week on housing and digested some corporate news.
  • Broadband Gets Global Marketing Campaign
    Mon, 20 Sep 2010 06:45:49 -0700
    To support its mission of universal broadband, the UN-affiliated Broadband Commission is giving away
  • Stocks Extend Winning Streak
    Mon, 20 Sep 2010 06:45:00 -0700
    Street starts in positive territory as market chases fourth straight week of gains.
  • Safran and BAE to split security firm L-1
    Mon, 20 Sep 2010 06:41:51 -0700
    PARIS (Reuters) - Face-recognition software maker L-1 Identity Solutions is being sold to two of Europe's top defense firms as the budget-starved arms industry wades deeper into the battle against security threats and fraud.

  • Lloyds chief executive Eric Daniels to retire
    Mon, 20 Sep 2010 06:34:27 -0700
    Shock retirement ending a long period of speculation over his future as the head of Britain's largest retail bank.
  • Search for safety takes gold to new highs
    Mon, 20 Sep 2010 06:30:27 -0700
    LONDON (Reuters) - Gold hit record highs for the fourth day in a row on Monday, boosted by growing expectations for U.S. interest rates to remain exceptionally low as the economy struggles, while silver came in sight of 30-year peaks.
  • Lennar quarterly profit beats, but new orders fall
    Mon, 20 Sep 2010 06:19:20 -0700
    NEW YORK (Reuters) - Lennar Corp reported a higher-than-expected quarterly profit as the No. 3 U.S. homebuilder benefited from orders placed before the homebuyer tax credit expired, sending its shares up more than 5 percent.

  • ValueClick upgraded to "buy" as Google Instant traffic surges
    Mon, 20 Sep 2010 06:12:12 -0700
    Benchmark Capital upgraded ValueClick Inc. to "buy" from "hold," as Google Instant could drive a surge in affiliate marketing traffic while possibly aiding ValueClick's comparison shopping sites.
  • Soft recovery to mean lingering joblessness: OECD
    Mon, 20 Sep 2010 06:06:19 -0700
    WASHINGTON (Reuters) - A U.S. recovery is under way but at such a moderate pace that painfully high unemployment rates will persist for some time, the Organization for Economic Cooperation and Development said on Monday.

  • United Stock Exchange starts operations in Mumbai
    Mon, 20 Sep 2010 06:06:00 -0700
    The United Stock Exchange (USE), a new stock exchange for currency derivatives, began its operations on Monday in Mumbai.C.B.Bhave.
  • Austerity plan helps UK retain top AAA rating
    Mon, 20 Sep 2010 06:04:22 -0700
    Moody's keeps top rating on Britain saying it can withstand economic challenges, boosting Coalition's austerity plans and lifting shares.
  • Lime Launches Options Trading
    Mon, 20 Sep 2010 06:02:35 -0700
    Lime Brokerage, a high frequency agency brokerage and trading technology provider, has launched an o
  • China's CIC says wary of investing in "old" automakers
    Mon, 20 Sep 2010 06:01:10 -0700
    CHENGDU, China (Reuters) - China Investment Corp (CIC), China's $300 billion sovereign wealth fund, "has doubts" about investing in old line automakers and would approach any such deals cautiously, the fund's general manager said on Friday.
  • India gold seen easing from record high
    Mon, 20 Sep 2010 06:00:59 -0700
    MUMBAI (Reuters) - India gold futures may ease this week from a record high as investors resort to profit-taking, after the yellow metal gained 7.8 percent since the start of August, analysts said.
  • Geely may build as many as 3 Volvo plants in China
    Mon, 20 Sep 2010 06:00:49 -0700
    BEIJING (Reuters) - Zhejiang Geely Holding Group, which last month completed its purchase of Volvo from Ford Motor Co , may build as many as three plants in China to make the Swedish brand, a Geely spokesman said on Tuesday.
  • BMW gets approval to set up China auto financing unit
    Mon, 20 Sep 2010 06:00:39 -0700
    BEIJING (Reuters) - German luxury car maker BMW said on Thursday it had received approval to set up an auto financing unit in China, becoming the latest foreign automaker to tap the country's fledgling but potentially lucrative auto financing business.
  • SAIL, POSCO to sign deal for Jharkhand plant in few months
    Mon, 20 Sep 2010 06:00:27 -0700
    NEW DELHI (Reuters) - Steel Authority of India Ltd (SAIL) could sign a deal with South Korea's POSCO to build a 1.5 million tonne plant in India in a few months, the steel minister said on Monday.
  • Landlord Alert: More Tax Paperwork On The Way
    Mon, 20 Sep 2010 05:55:45 -0700
    Small Business Jobs Act requires millions of individual landlords to file 1099s for payments to plum
  • Govt seeks upgrades for BlackBerry monitoring - sources
    Mon, 20 Sep 2010 05:50:28 -0700
    NEW DELHI (Reuters) - India has asked mobile phone operators to upgrade their networks to help security agencies intercept communication on BlackBerry devices, three sources with direct knowledge of the matter said on Monday, as the government wants access to highly-secure data.
  • Verizon names McAdams COO, likely next CEO
    Mon, 20 Sep 2010 05:50:22 -0700
    NEW YORK (Reuters) - Verizon Communications Inc said on Monday it named Lowell McAdam its president and chief operating officer, setting the veteran executive up as the successor to Chief Executive Ivan Seidenberg.

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