Friday, October 8, 2010

Business News - 08 October 2010

  • World finance leaders seek currency peace
    Fri, 08 Oct 2010 09:32:02 -0700
    World finance leaders on Friday will try to soothe simmering currency tensions which threaten to drag on an economic recovery that is already too slow and uneven for their liking.
  • Bank of America halts all foreclosure sales
    Fri, 08 Oct 2010 09:04:59 -0700
    Bank of America is halting foreclosure sales in all 50 states as part of a widening investigation into flaws in the process, the company announced Friday.
  • Bullard says Fed decision on easing a "tough call"
    Fri, 08 Oct 2010 09:02:42 -0700
    WASHINGTON (Reuters) - The Federal Reserve faces a difficult decision at next month's policy meeting on whether to offer further stimulus to a U.S. economy that is still growing but only slowly, St....

  • Frugal Friday: Be Gaga. Be Pauly D. It'll cost you
    Fri, 08 Oct 2010 09:01:24 -0700
    Halloween might as well be sponsored by MTV this year.
  • Payrolls fall, Fed monetary easing idea advances
    Fri, 08 Oct 2010 08:57:45 -0700
    WASHINGTON (Reuters) - The U.S. economy shed jobs in September for a fourth straight month as government payrolls fell and private hiring slowed, hardening expectations for more stimulus from the...

  • Dow tops 11,000
    Fri, 08 Oct 2010 08:56:40 -0700
    Stocks rallied, with the Dow crossing 11,000 for the first time in five months, after a sharp drop in the overall jobs figure in September boosted the chances of stimulus measures from the Federal Reserve.
  • Ex-NY bank president pleads guilty in TARP fraud
    Fri, 08 Oct 2010 08:56:28 -0700
    NEW YORK (Reuters) - A former bank president described by prosecutors as the first person accused of attempting to steal U.S. government bailout funds in the financial crisis pleaded guilty on Friday...

  • BofA halts foreclosures in all 50 states
    Fri, 08 Oct 2010 08:55:00 -0700
    CHARLOTTE, North Carolina (Reuters) - Bank of America Corp is halting foreclosures and sales of foreclosed properties in all 50 states pending a review of its internal processes, the bank said on...

  • Dabbawallas adapt to new economic era
    Fri, 08 Oct 2010 08:54:33 -0700
    As India's cities diversify and the country becomes wealthier Nidhi Dutt asks how the Dabbawallas will adapt to the new economic age.
  • Employment takes a hit in September
    Fri, 08 Oct 2010 08:52:51 -0700
    The job market suffered another blow last month, as business hiring dwindled and the government continued to shed workers.
  • Jobs: 'Told ya so'
    Fri, 08 Oct 2010 08:51:48 -0700
    The government's monthly payrolls report on Friday provided plenty of fodder for politicians on either side of the aisle ahead of the Nov. 2 elections.
  • California Lawmakers Pass Budget Three Months Late
    Fri, 08 Oct 2010 08:46:00 -0700
    California’s Legislature sent a budget to Governor Arnold Schwarzenegger today, ending a three- month impasse that threatened to force the most-populous U.S. state to issue IOUs for a second straight year.
  • Rain Propels Argentine Bonds Past Pakistan: Argentina Credit
    Fri, 08 Oct 2010 08:45:00 -0700
    Rainfall is producing record soybean crops in Argentina, boosting the economy and bond market. In Pakistan, it’s creating deadly floods and hurting the nation’s credit.
  • U.S. Economy: Payrolls Drop Exceeds Forecasts as Teachers Fired
    Fri, 08 Oct 2010 08:45:00 -0700
    The U.S. lost more jobs than forecast in September as local governments fired teachers and other workers in response to declining tax revenue.
  • Most European Stocks Fall After U.S. Jobs Report; Barclays Drops
    Fri, 08 Oct 2010 08:44:00 -0700
    Most European shares fell as a government report showed the U.S. economy lost more jobs than estimated in September, increasing the likelihood that the Federal Reserve will be forced to act to shore up the recovery.
  • Pershing's Ackman makes big bet on the consumer
    Fri, 08 Oct 2010 08:43:11 -0700
    BOSTON (Reuters) - Hedge fund manager William Ackman is placing a big bet that the U.S. consumer will start spending more money by taking large stakes in shares of retailer JC Penney and consumer...

  • Alan Johnson is shadow chancellor
    Fri, 08 Oct 2010 08:42:30 -0700
    Alan Johnson is named shadow chancellor by new Labour leader Ed Miliband, while Ed Balls gets the home affairs brief and Yvette Cooper becomes shadow foreign secretary.
  • UAE says BlackBerry dispute resolved before deadline
    Fri, 08 Oct 2010 08:40:39 -0700
    DUBAI (Reuters) - The United Arab Emirates has dropped a threat to suspend BlackBerry services after resolving a dispute with the Canadian maker of the devices, Research in Motion (RIM) , the state news agency said on Friday.
  • INTERVIEW - Steelmaker sees political hand in Ukraine court case
    Fri, 08 Oct 2010 08:40:26 -0700
    KIEV (Reuters) - A top executive at steelmaker ArcelorMittal expressed fears on Friday that a court action in Ukraine could lead to it losing a plant which it bought for $4.8 billion in a landmark re-privatisation.
  • U.S. Stocks Advance as Dow Tops 11,000 for First Time Since May
    Fri, 08 Oct 2010 08:39:00 -0700
    U.S. stocks rose, sending the Dow Jones Industrial Average above 11,000 for the first time since before the May 6 crash, after a worse-than-estimated report on American jobs bolstered speculation that the Federal Reserve will enact economic stimulus measures.
  • Dow tops 11,000 for first time since May
    Fri, 08 Oct 2010 08:37:30 -0700
    NEW YORK (Reuters) - The Dow Jones industrials crossed the 11,000 threshold for the first time since early May on Friday as U.S. stocks gained modestly on stronger resource and consumer shares.

  • Dollar Falls Below 82 Yen for First Time Since 1995 on Payrolls
    Fri, 08 Oct 2010 08:37:00 -0700
    The dollar dropped below 82 yen for the first time in 15 years as the U.S. payrolls report showed employers cut more jobs last month than economists forecast, heightening concern the economic recovery is stalling.
  • Bank of America Extends Freeze on Foreclosures to All 50 States
    Fri, 08 Oct 2010 08:36:07 -0700
    Bank of America Corp., the biggest U.S. lender, will halt foreclosures in all 50 U.S. states to determine whether documents used to seize homes from people had the correct data.
  • Famous Filmmakers Weigh In On Vimeo's First Online Film Festival
    Fri, 08 Oct 2010 08:33:49 -0700
    Vimeo's first film festival and competition has famous filmmakers talking.
  • Alaska Air Board Backs CEO Ayer
    Fri, 08 Oct 2010 08:30:00 -0700
    The board of directors of Alaska Air Group (ALK) made a statement of support for chief executive Bill
  • Downsize the Umps
    Fri, 08 Oct 2010 08:27:50 -0700
    Cutting one umpire per crew would save baseball millions.
  • Red tide
    Fri, 08 Oct 2010 08:27:40 -0700
    The company at the centre of Hungary's toxic spill
  • Off highs as IMF meets; rand falls
    Fri, 08 Oct 2010 08:26:19 -0700
    Emerging assets retreated further from recent highs on Friday as investors consolidated gains ahead of weekend meetings of global finance chiefs to discuss simmering currency tensions.
  • How can South Africa rein in the rand?
    Fri, 08 Oct 2010 08:24:58 -0700
    South African policymakers are watching with a sense of unease as the rand continues to hit new highs against the dollar, driven by a steady flow of international funds into emerging markets.
  • US copper surges to 26-mth top above $3.80/lb
    Fri, 08 Oct 2010 08:23:56 -0700
    Copper vaulted above $3.80 per lb on Friday, the highest in more than two years, after an unexpected drop in U.S. monthly payrolls data raised expectations that more quantitative easing could be on the way sooner, rather than later, analysts said.
  • EMERGING MARKETS-Off highs as IMF meets; rand falls
    Fri, 08 Oct 2010 08:23:13 -0700
    Emerging assets retreated further from recent highs on Friday as investors consolidated gains ahead of weekend meetings of global finance chiefs to discuss simmering currency tensions.
  • The Toughest Corporate Ladders To Climb
    Fri, 08 Oct 2010 08:20:52 -0700
    Which careers are the hardest to be promoted in? Here are some of America's toughest corporate ladde
  • FUND VIEW - Castlestone says platinum's fundamentals beat gold
    Fri, 08 Oct 2010 08:20:39 -0700
    SINGAPORE (Reuters) - Platinum offers a better long-term bet than gold as rising auto production boosts demand for the white metal, while art is also a good bet for investors worried about growing money supply, Castlestone Management says.
  • Tensions rise in Sanofi-Genzyme bid war
    Fri, 08 Oct 2010 08:20:26 -0700
    PARIS (Reuters) - Sanofi-Aventis dismissed a claim by bid target Genzyme that it dangled a higher price for the U.S. biotech company, as a transatlantic takeover fight descended into an ill-tempered stand-off on Friday.
  • Tanzania gold earnings surge 62 pct in year to July
    Fri, 08 Oct 2010 08:19:35 -0700
    Tanzania's earnings from gold exports jumped by 62 percent in the year to July, boosted by a rise in output and higher world market prices, the central bank said in its latest monthly economic review.
  • Kenyan shilling flat versus dollar, stocks mixed
    Fri, 08 Oct 2010 08:18:50 -0700
    The Kenyan shilling resisted early demand for the dollar on Friday and dealers said it may tend to rise in coming sessions, while the main share index on the Nairobi Stock Exchange closed lower.
  • Special GMO Defense Links Edition
    Fri, 08 Oct 2010 08:18:38 -0700
    Linking to some very interesting thoughts on defending GM crops.
  • AIG's Old Boss
    Fri, 08 Oct 2010 08:11:54 -0700
    Hank Greenberg, the former AIG CEO, on the insurance industry and financial markets.
  • AIG's Old Boss
    Fri, 08 Oct 2010 08:11:54 -0700
    Hank Greenberg, the former AIG CEO, on the insurance industry and financial markets.
  • Alcoa Kicks Off Earnings Season
    Fri, 08 Oct 2010 08:10:00 -0700
    Aluminum maker Alcoa (AA) marked the traditional start to earnings season late yesterday, with earnings
  • Will FTC Marketing Guidelines Make it Any Easier for Advertising to be "Green"?
    Fri, 08 Oct 2010 08:04:46 -0700
    After 35 months, numerous public hearings, thousands of comments, and countless taxpayer-funded Comm
  • Namibia diamond output doubles from last year
    Fri, 08 Oct 2010 08:03:08 -0700
    Diamond production in Namibia over the first eight months of 2010 doubled compared with the same period last year due to a recovery in overseas demand, according to Ministry of Mines and Energy data on Friday.
  • Zambia copper output to hit highest since 1973
    Fri, 08 Oct 2010 08:00:10 -0700
    Zambia's total copper production is expected to rise to more than 720,000 tonnes this year, the highest in nearly four decades, Finance Minister Situmbeko Musokotwane said on Friday.
  • IRS FBAR Disclosure Program Misses Opportunities
    Fri, 08 Oct 2010 07:57:15 -0700
    Unfortunately, IRS has failed to properly follow-up on the momentum created by its aggressive foreig
  • Trump Talks Presidential Run As He Gets Scottish Degree
    Fri, 08 Oct 2010 07:52:55 -0700
    The billionaire deftly displaces talk of his controversial golf course on the Aberdeenshire coast.

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