Thursday, November 18, 2010

Business News - 18 November 2010

  • GM shares soar after landmark IPO
    Thu, 18 Nov 2010 07:06:55 -0800
    Shares of automaker General Motors opened at $35 in its first trading day on the NYSE after recovering from a government funded bailout. The opening price was an increase of 2 percent from its IPO price of $33.
  • Open Road for GM Stock?
    Thu, 18 Nov 2010 07:05:33 -0800
  • GM CEO: No repayment promises
    Thu, 18 Nov 2010 06:52:29 -0800
    General Motor's new CEO Dan Akerson said this was the right time for the company to go public again, but stopped short of promising that taxpayers would be paid back with future stock sales.
  • US stocks sharply higher in early trade; GM up almost 9 pct
    Thu, 18 Nov 2010 06:51:58 -0800
    S&P 500 Index gained 13.19 points, or 1.18 percent, to trade at 1,192.55 at 09:50 a.m. EDT. The Dow Jones Industrial Average is up 122.79 points, or 1.12 percent, to trade at 11,130.67. The Nasdaq Composite Index rose 1.29 percent to trade at 2,508.13.
  • Bernanke Defends Fed as Republican Criticism Rises
    Thu, 18 Nov 2010 06:49:01 -0800
    Federal Reserve Chairman Ben S. Bernanke defended his expansion of record monetary stimulus in a meeting with Senators as top Republican lawmakers stepped up their criticism of the central bank chief’s policies.
  • Massachusetts gets the new economy best
    Thu, 18 Nov 2010 06:48:36 -0800
    Massachusetts is the state best prepared to compete in a global, innovation-based economy, according to a report released Thursday by the Kauffman Foundation, an entrepreneurial advocacy organization, and the Information Technology and Innovation Foundation, a technology thinktank.
  • GM shares jump in post-IPO return to market
    Thu, 18 Nov 2010 06:47:22 -0800
    NEW YORK (Reuters) - General Motors Co shares traded up 7 percent on Thursday morning, in a dramatic market return for the top U.S. automaker that comes less than a year and half after it emerged...

  • More shoppers forecast for Black Friday weekend
    Thu, 18 Nov 2010 06:45:24 -0800
    NEW YORK (Reuters) - As many as 138 million shoppers could be hunting for Black Friday bargains during the three days after Thanksgiving, a slight increase over last year's projections, according to...

  • Street Shows GM A Welcome-Back Rally
    Thu, 18 Nov 2010 06:45:00 -0800
    Automaker's IPO helps fuel fast start for U.S. stocks.
  • A global rally spilling over to U.S.
    Thu, 18 Nov 2010 06:43:46 -0800
    U.S. stocks were on track to follow surging world markets higher Thursday, amid talk that the Irish government is close to accepting a loan to help the country ease its debt problems.
  • “New” GM shares up almost 9% in early trading
    Thu, 18 Nov 2010 06:43:08 -0800
    Shares of auto giant General Motors (NYSE: GM) are up almost 9 percent in early trading after yesterday’s blockbuster initial public offering that was estimated to have 30 percent greater demand than initially expected. The offering is the biggest in U.S. history.
  • Special Report: In the rough with SAC Capital
    Thu, 18 Nov 2010 06:42:54 -0800
    NEW YORK (Reuters) - Sam Evans may not have the most powerful or lucrative position in the hedge fund world. But his job at SAC Capital Advisors is one a lot of people, and not just financial...

  • Stocks, Commodities Rise on Irish Bailout Talks; Euro Advances
    Thu, 18 Nov 2010 06:42:01 -0800
    Stocks rose around the world, the euro strengthened and commodities snapped two days of losses amid the prospect of a European Union-led bailout for Ireland. Irish bonds rallied and U.S. Treasuries retreated.
  • South Africa Cuts Rates as Rand Contains Inflation
    Thu, 18 Nov 2010 06:40:01 -0800
    South Africa’s central bank cut its benchmark interest rate for the third time this year to spur economic growth after a rally in the rand pushed inflation to the lowest in more than five years, while saying there was limited room for further reductions.
  • New Apple board member's albatross
    Thu, 18 Nov 2010 06:39:04 -0800
    The former CEO of Northrop Grumman comes to Cupertino with $2.4 billion albatross
  • More Americans filing for unemployment
    Thu, 18 Nov 2010 06:34:00 -0800
    The number of Americans filing for first-time unemployment benefits rose by 2,000 in the latest week, pointing to continued weakness in the job market, the government reported Thursday.
  • Bank of America Modified 52 Percent More Home Loans in October
    Thu, 18 Nov 2010 06:32:51 -0800
    Bank of America Corp. said it modified about 25,000 home loans in October, a 52 percent increase from the previous month amid the lender’s freeze on foreclosure sales in 27 states.
  • JBS Bonds in Worst Week Since July on BNDES Fee: Brazil Credit
    Thu, 18 Nov 2010 06:32:03 -0800
    Bonds sold by JBS SA, the world’s largest beef producer, are posting the worst week since they were sold in July after Brazil’s national development bank penalized the company $300 million for delaying a U.S. share offering.
  • GM's Gigantic IPO: Investors Bet An Old Dog Can Do New Tricks
    Thu, 18 Nov 2010 06:31:48 -0800
    Is the return of GM a 'milestone in the turnaround of not just an iconic company but the entire Amer
  • Thanksgiving Message: Don't Give Your Cash To Charity
    Thu, 18 Nov 2010 06:31:41 -0800
    Instead, donate your appreciated stock and mutual funds. As Mark Zuckerberg knows, the tax benefits
  • Trichet Says ECB Can Raise Rates Before Full Exit
    Thu, 18 Nov 2010 06:22:02 -0800
    European Central Bank President Jean-Claude Trichet said the bank can raise interest rates before withdrawing all of its non-standard policy measures.
  • Silver up 4 pct, gold rises 1.7 pct on day; analysts say short-covering helps white metal
    Thu, 18 Nov 2010 06:21:50 -0800
    Silver rallied sharper than gold on Thursday and some analysts see the trend to continue as many big global players are yet to cover their huge short positions in the white metal. A broadly weak US dollar, growing expectations that Ireland will soon be bailed out by the EMU and an absence of fresh c...
  • Madagascar Bids to Avoid Bloodshed After Coup Attempt
    Thu, 18 Nov 2010 06:21:02 -0800
    Madagascar’s army said it was looking to avoid bloodshed after a group of rebel officers attempted to overthrow the government of President Andry Rajoelina yesterday.
  • UK retail sales rise: key statistics and economists reaction
    Thu, 18 Nov 2010 06:17:07 -0800
    British retail sales rose slightly faster than expected in October after two months of falls, the Office for National Statistics said on Thursday. Here are the key facts and views.
  • Greece unveils austerity budget
    Thu, 18 Nov 2010 06:11:25 -0800
    The Greek government unveils an austerity budget that aims to cut its 2011 public deficit to 7.4% of the country's GDP.
  • Fake Out or Break Out
    Thu, 18 Nov 2010 06:06:37 -0800
    I'm preparing to head out of town for a quick business trip and I am looking forward to getting away
  • Stock futures point to higher open on Ireland optimism
    Thu, 18 Nov 2010 06:04:56 -0800
    NEW YORK (Reuters) - Stock index futures pointed to a rise of nearly 1 percent at the open on Thursday on expectations Ireland will get a giant loan to ease its debt crisis.

  • Jobless claims show improving labor market
    Thu, 18 Nov 2010 06:03:52 -0800
    WASHINGTON (Reuters) - New U.S. claims for jobless benefits rose slightly last week, but the underlying trend remained tilted toward improvement with a moving average hitting a fresh two-year low.

  • Two more ex-Madoff workers arrested in Ponzi case
    Thu, 18 Nov 2010 06:03:00 -0800
    NEW YORK (Reuters) - Two former longtime employees at Bernard Madoff's firm were arrested on Thursday in connection with the investigation into the now-imprisoned swindler's Ponzi scheme, the FBI...

  • Google TV Ads Notches Newest Distribution Partner: Verizon FiOS
    Thu, 18 Nov 2010 06:01:00 -0800
    Partnership, announced today, allows advertisers to reach 35 million U.S. households starting next y
  • GM back on road with blockbuster IPO; But is that enough?
    Thu, 18 Nov 2010 05:58:55 -0800
    GM will begin trading on the New York Stock Exchange beginning today after a landmark intial public offering, from which GM is expected to raise as high as $23.1 billion.
  • Financial advice for women
    Thu, 18 Nov 2010 05:56:20 -0800
  • Top Pre-Market NASDAQ Losers (HEAT, VRGY, APWR, SHLD, LGCY)
    Thu, 18 Nov 2010 05:54:07 -0800
    The top pre-market NASDAQ stock market losers are: SmartHeat, Verigy, A-Power Energy Generation Systems, Sears Holdings, Legacy Reserves, Clean Energy Fuels, Hologic, Synchronoss Technologies, and Avanir Pharmaceuticals.
  • Halfords posts 13pc profit rise as cost savings offset sales dip
    Thu, 18 Nov 2010 05:42:23 -0800
    Car parts and bicycles retailer Halfords posted an expected 13pc rise in first-half profit, as margin gains and cost savings offset a short term hit to sales from a new distribution centre.
  • Qantas A380 suffered "cascade of failures": report
    Thu, 18 Nov 2010 05:36:00 -0800
    LONDON (Reuters) - The Qantas A380 aircraft that made an emergency landing earlier this month after one of its Rolls-Royce engines partly disintegrated mid-flight suffered a "cascade of failures,"...

  • SABMiller sees strong pick-up in emerging markets
    Thu, 18 Nov 2010 05:30:38 -0800
    LONDON (Reuters) - A strong recovery in emerging markets helped brewing giant SABMiller beat forecasts with a 16 percent rise in half-year earnings, while the Miller Lite brewer's markets in Europe and North America struggled.
  • GM India to launch new vehicles, boost investment
    Thu, 18 Nov 2010 05:30:26 -0800
    MUMBAI (Reuters) - General Motors' India unit will launch six new vehicles and will invest $500 million over the next two years, its country head said on Thursday, as it looks to tap demand in one of the world's fastest growing car markets.
  • Top Pre-Market NASDAQ Gainers (LTXC, EXEL, DRYS, DNDN, ARUN)
    Thu, 18 Nov 2010 05:25:39 -0800
    The top pre-market NASDAQ stock market gainers are: LTX-Credence, Exelixis, DryShips, Dendreon, Aruba Networks, SodaStream International, Pan American Silver, Spreadtrum Communications, NetApp, and Canadian Solar.
  • PM to respond to top court over 2G scam
    Thu, 18 Nov 2010 05:20:37 -0800
    NEW DELHI (Reuters) - Prime Minister Manmohan Singh has been forced to explain to the Supreme Court his failure to probe a huge telecoms scam, in a widening scandal that prompted telecom investors to ditch their shares on Thursday.
  • Walter Energy seeks to buy Western Coal for $3.24 bln
    Thu, 18 Nov 2010 05:20:27 -0800
    BANGALORE (Reuters) - U.S. coal maker Walter Energy said it is in talks to buy Canada's Western Coal for $3.24 billion, to create a steelmaking coal giant aimed at exploiting Asian demand.
  • What Revenge?
    Thu, 18 Nov 2010 05:20:00 -0800
    Fred Rosen built Ticketmaster into the dominant ticketing agency. Now he's back with a new company--and aiming at guess who.
  • Emerging markets push up SABMiller sales
    Thu, 18 Nov 2010 05:19:58 -0800
    Shares in SAB Miller bubbled up after the brewing giant delivered a rise in profit and said it expects trading in most of its key emerging markets to steadily improve.
  • Ghailani Verdict A Success Compared To Many Cold War Cases
    Thu, 18 Nov 2010 05:15:25 -0800
    The U.S. faced an existential threat in the Cold War, but nobody was talking military tribunals.
  • Staples tops Street on cost cuts
    Thu, 18 Nov 2010 05:13:16 -0800
    NEW YORK (Reuters) - Top U.S. office supplies retailer Staples Inc reported a higher-than-expected quarterly profit on Thursday, boosted by tight cost controls and market share gains.

  • Investment advice: India's record returns
    Thu, 18 Nov 2010 05:13:15 -0800
    Lalcap's Deepak Lalwani: what investors can expect in 2011.

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