Wednesday, October 6, 2010

Business -06 October 2010

  • Rupee at near 6-month high as shares rise
    Wed, 06 Oct 2010 09:49:50 -0700
    The rupee rose to its highest level in nearly six months on Wednesday morning, boosted by rising equities, which strengthened expectations for sustained portfolio inflows while stronger Asian peers also cheered.
  • OPEC output change unlikely, market well supplied: Libya
    Wed, 06 Oct 2010 07:33:34 -0700
    OPEC is unlikely to change its output policy at a meeting on October 14 since oil's rise above $80 a barrel does not reflect the fundamentals of a well supplied market, Libya's top oil official said on Wednesday.
  • Stocks waver on weak jobs reports
    Wed, 06 Oct 2010 07:25:55 -0700
    Stocks struggled early Wednesday, slipping between small gains and losses, as investors mulled two reports showing continued weakness in the job market ahead of the closely-watched monthly jobs report due Friday.
  • Indexes mixed after ADP data, with more QE eyed
    Wed, 06 Oct 2010 07:21:26 -0700
    NEW YORK (Reuters) - Stocks were little changed on Wednesday as continued hopes for more global economic stimulus efforts offset an unexpectedly poor reading on private-sector hiring in the United...

  • Whitney Struggles to Repeat Citi Call
    Wed, 06 Oct 2010 07:19:00 -0700
    Meredith Whitney, the bank analyst who jumped to celebrity from obscurity by correctly predicting Citigroup Inc.’s dividend cut, is having less success divining stock market winners and losers.
  • American Airlines to bring back pilots, attendants
    Wed, 06 Oct 2010 07:18:48 -0700
    American Airlines on Wednesday said it is recalling hundreds of furloughed pilots and flight attendants after forming joint businesses with several other airlines.
  • U.S. Stocks Fluctuate as Jobs Report Trims Yesterday’s Rally
    Wed, 06 Oct 2010 07:18:00 -0700
    U.S. stocks fluctuated, with the Standard & Poor’s 500 Index struggling to add to yesterday’s rally, after a report showed an unexpected decrease in private payrolls.
  • Best printers for the money
    Wed, 06 Oct 2010 07:17:03 -0700
    The machine is cheap -- until you start using it every day. Ink and toner cost the average U.S. household $90 a year, according to Lyra Research. Use these tactics to trim your bill.
  • Europe’s Expansion May Slow on Households, Companies, Exports
    Wed, 06 Oct 2010 07:15:54 -0700
    Europe’s economic recovery may slow in coming months as households cut back spending, companies trim investment and export demand weakens, three of the region’s economic research institutes said.
  • Lifestyle warning from economist
    Wed, 06 Oct 2010 07:15:22 -0700
    The Chief Adviser to the China Banking Regulatory Commission, Andrew Sheng, warns that the world will have to adopt a greener economy to save resources.
  • Geithner: Currency problems risk global growth
    Wed, 06 Oct 2010 07:12:29 -0700
    Treasury Secretary Timothy Geithner - in remarks that appeared aimed toward China - took a sharper tone on the issue of currency Wednesday, saying global economic growth could be at risk unless developing nations are more flexible about undervalued currencies.
  • Falling property taxes slam city budgets
    Wed, 06 Oct 2010 07:11:24 -0700
    The housing crisis is finally catching up with cities -- and the impact isn't going to be pretty.
  • Companies in U.S. Unexpectedly Cut Jobs in September, ADP Says
    Wed, 06 Oct 2010 07:10:00 -0700
    Companies in the U.S. unexpectedly cut jobs in September, data from a private report based on payrolls showed today.
  • Judge Bars Embassy Bombing Witness in Ghailani Trial
    Wed, 06 Oct 2010 07:07:27 -0700
    A federal judge barred the U.S. from to calling as a witness a Tanzanian man who admits supplying explosives to Ahmed Ghailani, an alleged al-Qaeda terrorist charged with the 1998 bombing of the U.S. embassies in Africa.
  • US stocks waver in early trade
    Wed, 06 Oct 2010 07:07:05 -0700
    U.S. stocks wavered between small gains and losses in early trade on Wednesday after ADP National Employment report showed that the private sector unexpectedly lost jobs in September.
  • Hedge Funds to Triple in Decade Amid Low Yields, SkyBridge Says
    Wed, 06 Oct 2010 07:06:10 -0700
    The $1.6 trillion hedge-fund industry will triple in size in the next 10 years as investors try to limit stock market risk while seeking higher returns than bonds offer, said Anthony Scaramucci of SkyBridge Capital.
  • Nokia Plots U.S. Comeback With N8 Smartphone, Simpler App Tools
    Wed, 06 Oct 2010 07:06:07 -0700
    Nokia Oyj’s effort to regain lost U.S. market share hinges on convincing software developers its new high-end smartphone can compete with Apple and Samsung for holiday shoppers, Executive Vice President Tero Ojanpera said.
  • Four-door Smart car coming to the U.S.
    Wed, 06 Oct 2010 07:05:30 -0700
    Smart USA, the company that sells the tiny Smart ForTwo in the United States, is working on an agreement with Nissan to produce a bigger four-door car for sale here late next year.
  • Private sector job cuts raise Fed easing chance
    Wed, 06 Oct 2010 07:02:23 -0700
    NEW YORK (Reuters) - U.S. private employers unexpectedly shed jobs in September, reinforcing the belief that the U.S. Federal Reserve will embark on another round of monetary policy stimulus to...

  • Temp hiring is back. But jobs aren't
    Wed, 06 Oct 2010 07:02:17 -0700
    When temporary hiring picks up, full time jobs are soon to follow. At least, that's the way it's supposed to work.
  • Rally Stalls As Private Payrolls Dip
    Wed, 06 Oct 2010 06:40:00 -0700
    ADP employment survey shows 39k drop in September; Street hits pause.
  • Geithner says must let markets drive currencies
    Wed, 06 Oct 2010 06:33:38 -0700
    WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday that countries running big trade surpluses need to let their currencies rise or risk triggering a destructive round of...

  • Costco September sales disappoint, Q4 profit beats
    Wed, 06 Oct 2010 06:31:15 -0700
    CHICAGO (Reuters) - Costco Wholesale Corp posted lower-than-expected comparable sales in September, pressuring shares even as quarterly profit beat expectations.

  • UK new car registrations fell 8.9pc in September
    Wed, 06 Oct 2010 06:26:56 -0700
    UK new car sales dipped last month compared with the scrappage-boosted figure in September 2009, the Society of Motor Manufacturers and Traders (SMMT) reported.
  • Ambac Assurance drops $6.1 billion in claims against Lehman
    Wed, 06 Oct 2010 06:26:02 -0700
    BANGALORE (Reuters) - Lehman Brothers Holdings Inc said Ambac Assurance Corp agreed to withdraw claims worth more than $6.1 billion against the company as part of a global settlement.

  • 3-Way Race Just Fine for Rubio
    Wed, 06 Oct 2010 06:24:47 -0700
    Meek and Crist splitting opposition vote
  • Fitch cuts Ireland rating
    Wed, 06 Oct 2010 06:24:15 -0700
    DUBLIN (Reuters) - Fitch cut Ireland's credit rating on Wednesday, citing the huge cost of cleaning up its banks as the country's regulator warned levels of soured property loans could be worse than...

  • Rupee off near 6-month peak as euro weakens
    Wed, 06 Oct 2010 06:20:27 -0700
    MUMBAI (Reuters) - The rupee trimmed gains from a near six-month high on Wednesday, tracking losses in the euro and weighed by some dollar demand from importers, but buoyant local shares helped the local unit close stronger on the day.
  • Citi sells retail partner card portfolios to GE Cap
    Wed, 06 Oct 2010 06:18:41 -0700
    NEW YORK (Reuters) - Citigroup Inc has sold $1.6 billion in sales finance portfolios from its retail partner card business to GE Capital, the companies announced on Tuesday.

  • Global oil and gas M&A volumes totaled $44 b in Q3
    Wed, 06 Oct 2010 06:11:18 -0700
    Global oil and gas M&A volume totaled $44 billion in 154 separate transactions in the third quarter, said a report by PLS with Derrick Petroleum Services
  • BSE Sensex rises 0.7 percent; Shipping Corp jumps
    Wed, 06 Oct 2010 06:10:27 -0700
    MUMBAI (Reuters) - With no sign of abatement in foreign fund inflows and with firm world equities lending a hand, the BSE Sensex gained 0.7 percent on Wednesday, for the fourth session in five, led by Reliance Industries.
  • Firefox Gets Paid
    Wed, 06 Oct 2010 06:03:18 -0700
    Suddenly Mozilla might feel a little creepy. You may have heard: The Mozilla Foundation, which coord
  • Firefox Privacy Plug-In Reads The Fine Print So You Don't Have To
    Wed, 06 Oct 2010 06:01:26 -0700
    A new browser tool from a coalition of privacy groups automatically tracks changes in terms of servi
  • India, China lead robust Asian recovery - IMF
    Wed, 06 Oct 2010 06:00:26 -0700
    WASHINGTON (Reuters) - Asia's emerging economies, powered by China and India, are leading the global recovery after faring well during crisis, but need to allow currency appreciation and undergo structural reforms to ensure long-term growth, the International Monetary Fund said on Wednesday.
  • American Air to recall nearly 800 workers
    Wed, 06 Oct 2010 05:59:00 -0700
    CHICAGO (Reuters) - AMR Corp , parent of American Airlines, said on Wednesday it will recall 545 flight attendants and 250 pilots to handle network expansion on international routes.

  • The Dragon Who Digs Donald Trump
    Wed, 06 Oct 2010 05:53:16 -0700
    Duncan Bannatyne is the toughest of TV's 'dragon' venture capitalists, but he's got a soft spot for
  • US futures pare gains after ADP report
    Wed, 06 Oct 2010 05:53:09 -0700
    Futures on major U.S. indices pared earlier gains and point to a flat opening on Wednesday after ADP reported that private-sector employment fell in September.
  • IMF warns Britain must reform its public finances
    Wed, 06 Oct 2010 05:49:11 -0700
    Government's spending promises are 'unsustainable', warns IMF as it cuts UK growth forecast for next year to 2pc.
  • Special report: In Britain's cities, the pain begins
    Wed, 06 Oct 2010 05:40:41 -0700
    LONDON (Reuters) - Inside Birmingham's council chamber, a red-carpeted semi-circular room with Italian walnut-clad walls, the leader of Europe's largest local government authority is preparing his...

  • Binani Inds to buy public holding in cement unit
    Wed, 06 Oct 2010 05:40:27 -0700
    MUMBAI (Reuters) - Binani Industries Ltd said on Wednesday it received board approvals to acquire the entire public holding in its unit Binani Cement , sending shares of both companies soaring.
  • IMF revises U.S. growth down, jobs picture bleak
    Wed, 06 Oct 2010 05:39:48 -0700
    WASHINGTON (Reuters) - U.S. economic growth will be much weaker this year and in 2011 than previously thought and that dims hopes for bringing down a very high unemployment rate anytime soon, the...

  • HK stocks hit 2010 high on big volume, banks scooped up
    Wed, 06 Oct 2010 05:21:28 -0700
    Hong Kong stocks rose to an 11-month high in heavy trade on Wednesday as investors bought up under performers such as banks in expectation easier U.S. monetary policy will keep money cheap.
  • U.S. lawmakers seek foreclosure investigations
    Wed, 06 Oct 2010 05:20:27 -0700
    WASHINGTON (Reuters) - California Democrats in the U.S. House of Representatives are calling for federal investigations into whether financial institutions broke any laws in their handling of foreclosures in the midst of the U.S. housing crisis.
  • FTSE 100, global markets rise on hopes of more stimulus
    Wed, 06 Oct 2010 05:20:15 -0700
    The FTSE 100 index climbed to highest level in more than five months on Wednesday on optimism that governments will act to stimulate economies around the world.
  • How do you say Rorschach test in French?
    Wed, 06 Oct 2010 05:00:08 -0700
    The biggest story in France at the moment is the seemingly draconian penalty just meted out to Jerom

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