Tuesday, October 5, 2010

Business -05 October 2010

  • Aust dollar slips after RBA decision
    Tue, 05 Oct 2010 09:42:23 -0700
    The Australian currency continued to fall against the greenback after the Reserve Bank of Australia (RBA) decided to leave its cash rate steady at 4.5 per cent at its Oct 5 board meeting.
  • BSE Sensex down 0.09 pct
    Tue, 05 Oct 2010 09:31:54 -0700
    Indian shares declined 0.09 percent at 20,457.08 points in line with weakness in Asian peers and investors and funds booked profits at prevailing higher levels on Tuesday.
  • Australian market still weaker, ignores RBA move
    Tue, 05 Oct 2010 09:20:43 -0700
    The Australian stock market hardly reacted to the Reserve Bank of Australia's surprise move to keep interest rates on hold for the fifth straight month, and are still trading lower, after US and European equities ended weaker.
  • Supercomputers Curb Test Costs
    Tue, 05 Oct 2010 06:03:29 -0700
    General Motors—along with Boeing, DreamWorks, Eli Lilly, and others—is using high-performance computers that run at almost 1 petaflops to improve products we use every day
  • Designed with Supercomputers
    Tue, 05 Oct 2010 06:03:29 -0700
  • Germany: New Rules, Old Companies
    Tue, 05 Oct 2010 06:03:29 -0700
    As most developed nations stumble in the race against emerging nations, here's how Germany, almost alone, has succeeded in keeping skilled labor working in good jobs
  • The Rebirth of Dresden
    Tue, 05 Oct 2010 06:03:29 -0700
  • IMF worries over financial system
    Tue, 05 Oct 2010 06:00:22 -0700
    The International Monetary Fund says the global financial system remains the weak link in the economic recovery.
  • National Bonds Sees 30% Growth as Women Save: Islamic Finance
    Tue, 05 Oct 2010 05:51:00 -0700
    National Bonds Corp. sees asset growth of as much as 30 percent in the next two years as the Dubai government-controlled Islamic fund manager targets women and immigrants, typically ignored by banks.
  • Ex-trader Kerviel sentenced to 3 years in jail
    Tue, 05 Oct 2010 05:48:29 -0700
    PARIS (Reuters) - Former Societe Generale trader Jerome Kerviel was sentenced to 5 years in prison, with 2 suspended, by a Paris court on Tuesday for his role in a trading scandal and ordered to...

  • Stocks poised for gains
    Tue, 05 Oct 2010 05:47:20 -0700
    U.S. stocks were poised to rise, following an uptick in global markets Tuesday, as investors welcomed a surprise move by the Bank of Japan to cut its key lending rate.
  • TUI says bookings back on track
    Tue, 05 Oct 2010 05:43:19 -0700
    Thomas Cook owner TUI says holiday bookings are back on track, thanks to poor north European weather and the failure of rivals.
  • Apple: Is it high time to declare dividends?
    Tue, 05 Oct 2010 05:39:09 -0700
    It could be high time for Apple to declare a dividend or repurchase its common shares as the company's cash position is swelling up.
  • Cameron: Child benefit cuts fair
    Tue, 05 Oct 2010 05:39:06 -0700
    David Cameron defends the decision to axe higher rate taxpayers' child benefit, as Labour says government plans are "unravelling".
  • Walgreen same-store sales better than expected
    Tue, 05 Oct 2010 05:33:41 -0700
    DETROIT (Reuters) - Drugstore chain Walgreen Co on Tuesday posted a stronger-than-expected rise in September same-store sales on strong demand in its pharmacy business.

  • FACTBOX - How to invest in gold and key price drivers
    Tue, 05 Oct 2010 05:30:27 -0700
  • National Rail faces safety probe
    Tue, 05 Oct 2010 05:26:38 -0700
    National Rail agrees to an indepdent review of how it reports staff accidents amid fears of "perverse incentives".
  • AIA Names Ex-AIG Executive Tse as Director as Unit Prepares IPO
    Tue, 05 Oct 2010 05:26:05 -0700
    Edmund Tse, who helped build American International Group Inc.’s life insurance operations for more than four decades, has been named a director of the main Asia unit the company is preparing for an initial public offering.
  • September sales seen up on back-to-school and promotions
    Tue, 05 Oct 2010 05:22:33 -0700
    LOS ANGELES (Reuters) - U.S. retailers are expected to post modest sales gains for September, on cautious back-to-school shopping and aggressive month-end promotions from department stores looking to...

  • EU urges faster yuan rise; China demurs
    Tue, 05 Oct 2010 05:20:39 -0700
    BRUSSELS (Reuters) - Euro area policymakers pressed China on Tuesday for a faster appreciation of its currency to help rebalance the world economy but said Chinese Prime Minister Wen Jiabao had differed with them.
  • INTERVIEW - Moody's: Ireland must do more to mend finances
    Tue, 05 Oct 2010 05:20:27 -0700
    DUBLIN (Reuters) - A tough economic environment means Ireland's government will have to pull the belt of austerity even tighter, although it is better-placed to deal with its budget crisis than some other euro zone states, rating agency Moody's said on Tuesday.
  • Ryder Cup Needed More Than ‘Mistake’: Scott Soshnick
    Tue, 05 Oct 2010 05:20:00 -0700
    Funny things happen in sports when the heart palpitates and the palms sweat, which is precisely why Hunter Mahan should never have conceded.
  • EU urges faster yuan rise
    Tue, 05 Oct 2010 05:19:21 -0700
    BRUSSELS (Reuters) - Euro area policymakers pressed China on Tuesday for a faster appreciation of its currency to help rebalance the world economy but said Chinese Prime Minister Wen Jiabao had...

  • Moody's warns of Irish downgrade as recovery falters
    Tue, 05 Oct 2010 05:18:11 -0700
    DUBLIN (Reuters) - Moody's warned on Tuesday it may cut Ireland's credit rating again, saying additional austerity measures are needed given a huge bill for cleaning up its banks, a weak economic...

  • European Stocks Advance; Greek Banks, TUI Travel Shares Climb
    Tue, 05 Oct 2010 05:18:00 -0700
    European stocks rose, snapping six days of losses for the Stoxx Europe 600 Index, as Moody’s Investor Service said it’s impressed with Greece’s efforts to reform its finances. U.S. futures and Asian shares gained.
  • Europe Services, Manufacturing Cool as Periphery Saps Growth
    Tue, 05 Oct 2010 05:16:00 -0700
    Europe’s services and manufacturing industries grew at the slowest pace in seven months in September, adding to signs that the economy is weakening as governments from Spain to Ireland implement austerity measures.
  • Olympic marathon route 'travesty'
    Tue, 05 Oct 2010 05:09:14 -0700
    An east London council describes the 2012 Olympics marathon route as a "travesty" after learning it will be in central London.
  • Russians Geim, Novoselov share 2010 Nobel Physics prize
    Tue, 05 Oct 2010 05:06:09 -0700
    Russian-born scientists Andre Geim and Konstantin Novoselov shared the 2010 Nobel Prize for physics on Tuesday for "groundbreaking experiments" with graphene, an atom-thin carbon material that could play a role in making innovative electronics.
  • Global PMIs ease, central banks surprise
    Tue, 05 Oct 2010 05:00:26 -0700
    LONDON (Reuters) - Growth slowed among Chinese and euro zone services firms in September, surveys showed on Tuesday, with Ireland and Spain tipping back into decline and Asia's emerging powerhouses continuing to outstrip Europe.
  • Bank of Japan move lifts stock futures ahead of ISM data
    Tue, 05 Oct 2010 04:55:26 -0700
    NEW YORK (Reuters) - Stock index futures rose on Tuesday as global stimulative measures reassured investors that governments were taking protective steps against economic weakness.

  • SocGen's Rogue Trader Must Become A Billionaire To Pay Back Money
    Tue, 05 Oct 2010 04:45:00 -0700
    A Paris court orders Jerome Kerviel to pay $6.7 billion back to his former employer. It'll only take him a few thousand years.
  • ICICI taps banks for bond issue up to $1 bln - sources
    Tue, 05 Oct 2010 04:30:49 -0700
    MUMBAI/HONG KONG (Reuters) - Private sector lender ICICI Bank has hired three banks for a bond issue of up to roughly $1 billion, sources familiar with the matter said on Tuesday.
  • BSE Sensex snaps 3-day rally; lenders fall
    Tue, 05 Oct 2010 04:30:39 -0700
    MUMBAI (Reuters) - The BSE Sensex snapped a 3-session winning streak and eased on Tuesday in choppy trade as resistance emerged after the market had rallied nearly 14 percent over five weeks, but sustained foreign interest kept the undertone firm.
  • Merrill Lynch sees India wealth assets up 30 pct
    Tue, 05 Oct 2010 04:30:26 -0700
    MUMBAI (Reuters) - The Indian wealth management arm of Merrill Lynch aims to grow new client assets and revenues by about 30 percent over the next year as wealthy Indians return to invest in a booming market, a top executive said on Tuesday.
  • UK services sector rise boosts expectations Bank of England will hold rates, QE
    Tue, 05 Oct 2010 04:21:57 -0700
    A surprise pickup in growth across the key services sector has fuelled hopes that the UK economy will avoid a double-dip recession.
  • BOJ reverts to zero rates, pledges to buy more assets
    Tue, 05 Oct 2010 04:14:56 -0700
    TOKYO (Reuters) - The Bank of Japan on Tuesday pledged to pump more funds into the struggling economy and keep rates virtually at zero, surprising markets and stealing a march on the Federal Reserve...

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