Sunday, October 24, 2010

Business - 24 October 2010

  • Mideast, N. Africa Economies to Accelerate, IMF Says
    Sun, 24 Oct 2010 07:58:00 -0700
    Growth in Middle Eastern and North African oil-exporting economies will accelerate next year as crude production rises, the International Monetary Fund said.
  • G-20 Seeks to Defuse Tension With Devaluation Pledge
    Sun, 24 Oct 2010 07:22:00 -0700
    Group of 20 finance chiefs sought to calm trade frictions that threaten the world economy by pledging to avoid weakening their currencies to boost exports and to let markets increasingly set foreign-exchange values.
  • Ocado expanding to the South West
    Sun, 24 Oct 2010 07:07:27 -0700
    Ocado to start delivering to homes in the south west of England and south Wales from March of next year.
  • League approves Portsmouth sale
    Sun, 24 Oct 2010 07:00:45 -0700
    Portsmouth are sold to Balram Chainrai, Levi Kushnir and Deepak Chainrai after a deal is struck to allow the club to exit administration.
  • Australia Banks Set to Top Pre-Crisis Profits as Bad Debts Ease
    Sun, 24 Oct 2010 06:21:30 -0700
    Three of Australia’s four largest banks are set to post second-half profits that match or exceed earnings before the global financial crisis as bad debts ease in an economy benefiting from the biggest mining boom in a century.
  • Rio Says Will Keep Talks Open to Resolve Australia’s Mine Tax
    Sun, 24 Oct 2010 06:16:04 -0700
    Rio Tinto Group, the world’s third- largest mining company, will continue talks to resolve the issue of Australia’s mining tax after the government said it won’t offset any future increase in royalties demanded by states.
  • Bahrain Shiite Opposition Gains at Least One Seat in Parliament
    Sun, 24 Oct 2010 06:08:06 -0700
    Bahrain’s main Shiite opposition parties increased their representation in parliament by at least one seat in elections that followed clashes between police and members of the Shiite Muslim majority.
  • Geithner in China to discuss economic tensions
    Sun, 24 Oct 2010 06:07:35 -0700
    U.S. Treasury Secretary Timothy Geithner met China's Vice-Premier Wang Qishan on Sunday and "exchanged views" about economic relations between their countries, both sides said.
  • Brown Extends Lead Over Whitman in Latest USC/L.A. Times Poll
    Sun, 24 Oct 2010 05:51:19 -0700
    Democrat Jerry Brown more than doubled his advantage over Republican Meg Whitman in a poll for governor of California, the most populous U.S. state.
  • LVMH closes in on 17pc stake in Hermes
    Sun, 24 Oct 2010 05:49:53 -0700
    Luxury goods group finalising deal at a 50pc discount, in a move likely to increase talk of a sale of its champagne business to fund a full takeover.
  • G-20 pledges to refrain from currency wars
    Sun, 24 Oct 2010 05:47:27 -0700
    A group representing the world's most prominent finance ministers wrapped up a two-day meeting in Korea Saturday with a pledge to not engage in currency wars or other economically protectionist policies.
  • Wall Street focuses on the 'three Es.'
    Sun, 24 Oct 2010 05:46:46 -0700
    Investors are bracing for an onslaught of news this week: The earnings avalanche continues, midterm elections are approaching and economic data are due in a bunch of sectors.
  • Abu Dhabi Shares Climb to April-High on Growth; Egypt Gains
    Sun, 24 Oct 2010 05:43:00 -0700
    Abu Dhabi shares rose to the highest since April as Waha Capital PJSC said third-quarter profit jumped and after global markets gained last week on speculation the Federal Reserve will help stimulate the economy.
  • Centrica set to shelve gas storage plans unless government helps
    Sun, 24 Oct 2010 05:35:25 -0700
    Centrica has effectively shelved its £1.5bn plan to build two gas storage facilities in the North Sea and Irish Sea unless the Government finds a way to subsidise the proposal.
  • Melinda Gates disses Apple
    Sun, 24 Oct 2010 05:18:44 -0700
  • US finance chief 'upbeat on yuan'
    Sun, 24 Oct 2010 05:12:38 -0700
    US Treasury Secretary Timothy Geithner says he believes China is now "committed" to allowing the yuan to go up in value.
  • Geithner says China engaged on forex: report
    Sun, 24 Oct 2010 05:10:28 -0700
    GYEONGJU, South Korea (Reuters) - Treasury Secretary Timothy Geithner said China will continue to move toward exchange rate flexibility and is now actively engaged on global foreign exchange issues.


  • One Sentence That Should Terrify Arena Pharma Investors
    Sun, 24 Oct 2010 05:06:38 -0700
    This is the sentence, right from Arena?s news release about the FDA?s refusal to approve
  • Lloyds shareholders hold protest
    Sun, 24 Oct 2010 05:01:43 -0700
    Lloyds Banking Group shareholders who lost money after the former Lloyds TSB bought Halifax Bank of Scotland are due to hold a protest meeting.
  • Coal India IPO likely at 245 rupees per share - sources
    Sun, 24 Oct 2010 04:40:26 -0700
    MUMBAI (Reuters) - Government is likely to price state run Coal India's initial public offering at the top end of the price range, raising about $3.5 billion, four sources with direct knowledge of the matter said.
  • How Green is China?
    Sun, 24 Oct 2010 04:04:03 -0700
    China does take the environment seriously, but the scale of industrialization taking place is so mas
  • From Wall Street to Franchisee
    Sun, 24 Oct 2010 03:00:00 -0700
    More than 500,000 workers have left the financial sector since the recession began. Many of them became franchisees.
  • Britain to look again at takeover "short-termism"
    Sun, 24 Oct 2010 01:40:26 -0700
    LONDON (Reuters) - Britain will look again into the issue of investor "short-termism" with a view to curbing the behaviour seen by some as damaging to companies in takeover battles, Business Secretary Vince Cable said on Sunday.
  • Global confidence dips as consumers see no quick fix - Nielsen
    Sun, 24 Oct 2010 01:30:38 -0700
    LONDON (Reuters) - Global consumer confidence fell in September from three months earlier, notably in the United States and Europe, as half of consumers worldwide believed they were still in recession, a survey by the Nielsen Company showed on Sunday.
  • U.S.'s Geithner, China's Wang discuss economic ties
    Sun, 24 Oct 2010 01:00:26 -0700
    BEIJING (Reuters) - U.S. Treasury Secretary Timothy Geithner on Sunday discussed economic ties with Chinese Vice Premier Wang Qishan in a brief meeting in eastern China.
  • Middle East recovery robust, closer eye on prices - IMF
    Sun, 24 Oct 2010 00:50:28 -0700
    DUBAI (Reuters) - The Middle East and North Africa's economic growth is recovering robustly, the International Monetary Fund said on Sunday.
  • Assertive India green policy no reason for investor worry
    Sat, 23 Oct 2010 23:50:25 -0700
    NEW DELHI (Reuters) - India's increasingly assertive green policy may have put on hold several multi-billion dollar mega-projects, as conserving forests and rivers trumps polluting factories, but investors have little reason to worry.
  • 'You May Have A Zune,' Melinda Gates Tells Her Kids When They Ask For An iPod
    Sat, 23 Oct 2010 23:06:44 -0700
    The co-chair of the Bill & Melinda Gates foundation wife takes a hard line on Apple's products.
  • G20 inks pact to avert trade war
    Sat, 23 Oct 2010 22:45:20 -0700
    GYEONGJU, South Korea (Reuters) - The Group of 20 major economies agreed on Saturday to shun competitive currency devaluations but stopped short of setting targets to reduce trade imbalances that are...


  • Emerging market funds suck in almost $6 bln in week - EPFR
    Sat, 23 Oct 2010 21:20:28 -0700
    SINGAPORE (Reuters) - Investors poured another $5.8 billion into emerging market funds in the third week of October, with global emerging market equity funds seeing record inflows for the second time in three weeks, fund tracker EPFR said.
  • Nobel economist warns UK putting economy at risk
    Sat, 23 Oct 2010 20:00:28 -0700
    LONDON (Reuters) - Britain's finance minister George Osborne is unnecessarily risking the economic recovery with his deep spending cuts, the country's new Nobel Prize winning economist was quoted as saying on Saturday.
  • Ivanhoe tension will not stop Mongolia mine
    Sat, 23 Oct 2010 19:36:39 -0700
    SYDNEY (Reuters) - Rio Tinto chief executive Tom Albanese said ongoing tensions with Canadian partner Ivanhoe Mines would not hold back the Oyu Tolgoi copper and gold project in Mongolia which he...


  • Launching "Pan-Asian Currents"
    Sat, 23 Oct 2010 19:07:04 -0700
    As my readers discovered, I have a passion for comparing and contrasting different peoples, cultures
  • Runaway: Kanye West's New Video Is Talking To You
    Sat, 23 Oct 2010 18:25:23 -0700
    Kanye West's latest brain child, a reinvented long form music video for Runaway, is a lesson in bran
  • Bob Dudley: BP will be top for safety
    Sat, 23 Oct 2010 15:31:08 -0700
    Bob Dudley, the new chief executive of BP, will intensify the company's fightback from the Gulf of Mexico disaster on Monday when he tells the CBI conference the oil major can become "the best company in our industry at managing risk".
  • Private equity asks the public: what do you really think of us?
    Sat, 23 Oct 2010 15:05:11 -0700
    A group of Europe's largest private equity houses are to fund a multi-million pound investigation into the way the industry is perceived amid concerns of a renewed backlash against its practices.
  • IT hiring rises to pre-crisis levels, attrition comes down
    Sat, 23 Oct 2010 14:15:14 -0700
    The just-concluded earnings season of the country s top four IT firms reveals that the recruitment levels in the $60-billion IT industry has returned to its October-December 2007 peak. The icing on the cake is the news that average attrition in the industry saw only a marginal rise during the quarter on a sequential basis and job hopping is also expected to stabilise in the next two quarters. Infosys Technologies, the country s second largest IT exporter, added 7,646 employees during the July-September quarter, which almost touches the net hiring
  • Vince Cable in push for 'Cadbury law'
    Sat, 23 Oct 2010 13:28:14 -0700
    The Government is to launch a major inquiry into "short-termism" and shareholder behaviour in the City.
  • City fears new Bank of England powers will hit democracy
    Sat, 23 Oct 2010 12:40:30 -0700
    The increasing powers of the Bank of England are being called into question amid fears that its looming regulatory remit could lead to a "democratic deficit" in the way the City of London is governed.
  • Greg Dyke to develop move for local TV
    Sat, 23 Oct 2010 11:34:27 -0700
    Greg Dyke, the former BBC director-general, is to front an industry group for local TV stations.
  • EU leaders to back diluted budget rules reform
    Sat, 23 Oct 2010 11:05:18 -0700
    BRUSSELS (Reuters) - European Union leaders will back next week a reform of EU budget rules which introduces new sanctions for rule-breakers but retains political discretion over the process, draft...


  • David Cameron: Government will support new young companies against Goliaths
    Sat, 23 Oct 2010 11:04:12 -0700
    It has been a week dominated by public sector cuts and worries about a "double-dip" recession. As the Government plans a new focus on private sector growth, the Prime Minister reveals why he believes support for the UK's "doers and grafters" is the only way forward.
  • Bollywood giant Eros appoints advisors for stake sale
    Sat, 23 Oct 2010 10:36:52 -0700
    Bollywood giant Eros has appointed advisers ahead of a possible sale of part of the controlling family's £190m stake.
  • Ener-g mulling £200m share sale
    Sat, 23 Oct 2010 10:29:28 -0700
    Ener-g, the market-leading small-scale green power company, is considering a possible £200m float to fund the next phase of its rapid expansion.
  • Rebuilding Confidence: it's time for Britain to embark on a new chapter called Growth
    Sat, 23 Oct 2010 10:17:25 -0700
    This Sunday The Sunday Telegraph launches an important new series called Rebuilding Confidence.

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