Thursday, December 2, 2010

Business News -02 November 2010

  • J&J recalls Mylanta for undisclosed alcohol
    Thu, 02 Dec 2010 05:25:22 -0800
    Johnson & Johnson is adding yet another product -- the stomach discomfort treatment Mylanta -- to its ongoing list of recalled products, according to the Food and Drug Administration, due to the presence of alcohol that's not listed on the label.
  • When cars and SUVs crash
    Thu, 02 Dec 2010 05:17:58 -0800
    Cars and SUVs don't stand bumper-to-bumper. That mismatch can turn what would have been minor rear-enders into massive repair bills for both vehicles if they crash, according to a new report from the Insurance Institute for Highway Safety.
  • Sweden High Court Won’t Review Assange Warrant Appeal
    Thu, 02 Dec 2010 05:08:01 -0800
    Sweden’s Supreme Court won’t consider WikiLeaks founder Julian Assange’s appeal of his arrest warrant on rape charges.
  • Mortgage tax break in the crosshairs
    Thu, 02 Dec 2010 05:07:04 -0800
    Don't even think of touching the mortgage interest tax deduction in the midst of a fragile housing market.
  • Stocks poised to keep the rally going
    Thu, 02 Dec 2010 05:06:57 -0800
    U.S. stocks were set to open higher Thursday, following a rally in European and Asian markets, as investors await the latest report on the U.S. labor market.
  • European Stocks Extend Rally; Shares of BHP Billiton, BMW Climb
    Thu, 02 Dec 2010 05:04:02 -0800
    European stocks rose, with the Stoxx Europe 600 Index extending its biggest rally in three months, amid speculation the European Central Bank will act to stem the region’s debt crisis. Asian equities and U.S. futures advanced.
  • Diller steps down as IAC CEO, Malone swaps stake for cash
    Thu, 02 Dec 2010 05:01:04 -0800
    NEW YORK (Reuters) - Barry Diller is stepping down as chief executive of IAC/InterActiveCorp , the company said, adding it had bought out one of its largest shareholders, John Malone's Liberty Media...

  • ECB faces pressure to act in Europe debt crisis
    Thu, 02 Dec 2010 05:00:27 -0800
    FRANKFURT/BERLIN (Reuters) - The European Central Bank faced pressure on Thursday to take steps to help contain the euro zone's debt problems, but could upset financial markets if it fails to announce new anti-crisis measures.
  • Scooping up Uncle Sam's loose change
    Thu, 02 Dec 2010 05:00:24 -0800
    President Obama's bipartisan debt commission didn't hold back on making sweeping recommendations to tame federal deficits.
  • Homes: Great time to buy, but way too scared
    Thu, 02 Dec 2010 05:00:24 -0800
    Despite some of the best home-buying conditions in years -- affordable prices, low interest rates and lots of choices -- fear of buying has infected the market.
  • Attention Americans: Siemens Is Hiring
    Thu, 02 Dec 2010 05:00:00 -0800
    Siemens Corp CEO Eric Spiegel on plans for U.S. expansion and job positions he wants to fill.
  • Attention Americans: Siemens Is Hiring
    Thu, 02 Dec 2010 05:00:00 -0800
    Siemens Corp CEO Eric Spiegel on plans for U.S. expansion and job positions he wants to fill.
  • Shares up on ECB bond move hopes
    Thu, 02 Dec 2010 04:58:27 -0800
    Global shares rise on expectations that the European Central Bank will step up its purchase of European government bonds.
  • ECB keeps interest rates at record low
    Thu, 02 Dec 2010 04:57:20 -0800
    FRANKFURT (Reuters) - The European Central Bank kept interest rates on hold Thursday at a policy meeting expected to see it keep unlimited liquidity operations in place for longer as the euro zone...

  • Pepsi buys stake in Russian firm
    Thu, 02 Dec 2010 04:53:36 -0800
    Soft drinks maker PepsiCo says it is buying a 66% stake in Russian dairy and fruit juice maker Wimm-Bill-Dann for $3.8bn.
  • Stocks, Euro Gain as ECB Keeps Rate on Hold; Spanish Bonds Rise
    Thu, 02 Dec 2010 04:53:03 -0800
    Stocks extended the biggest rally in a month, U.S. index futures rose and the euro strengthened on speculation the European Central Bank will act to stem the region’s debt turmoil. Spanish bonds and U.K. gas gained.
  • How much is an iPad worth?
    Thu, 02 Dec 2010 04:51:36 -0800
    A couple hundred dollars less than Apple charges, according to a new consumer survey.
  • Holiday kickoff helped retailers' November sales
    Thu, 02 Dec 2010 04:51:22 -0800
    NEW YORK (Reuters) - Several U.S. retailers reported higher-than-expected sales for November, confirming a strong start to a holiday shopping season that could determine whether the U.S. economic...

  • WikiLeaks says will also expose corporate world
    Thu, 02 Dec 2010 04:50:26 -0800
    LONDON (Reuters) - Whistle-blowing website WikiLeaks, which is causing an international storm over its release of confidential diplomatic cables, said it would also publish disclosures from the corporate world.
  • EUR/USD may jump to 1.3266-1.3357 region for a strongly positive ECB
    Thu, 02 Dec 2010 04:44:58 -0800
    If the ECB lives up to market expectations, the pair could rise further but a strong resistance area is up there, between 1.3266 (key long-term resistance) and 1.3357 (38.2 fibonacci retracement from June 7 lows), between which the 100-day SMA (1.3323) is also falling.
  • Toll Brothers posts profit
    Thu, 02 Dec 2010 04:43:51 -0800
    NEW YORK (Reuters) - Luxury homebuilder Toll Brothers on Thursday posted a quarterly profit, mainly helped by lower expenses and an income tax benefit.

  • Ford Family's Stake Is Smaller, But They're Richer And Still Firmly In Control
    Thu, 02 Dec 2010 04:41:40 -0800
    Ford issued new shares to stay alive and nobody benefits more than Henry Ford's heirs.
  • Millions cutting up credit cards
    Thu, 02 Dec 2010 04:39:47 -0800
    Credit card use is on the decline, as millions of Americans cut up their plastic or get cut off by their credit card companies.
  • Futures tick higher ahead of ECB, jobless data
    Thu, 02 Dec 2010 04:39:34 -0800
    NEW YORK (Reuters) - Stock index futures rose slightly on Thursday on expectations the European Central Bank may act to relieve market worries of a spreading euro zone debt crisis.

  • Pepsi's $5 billion Russian deal
    Thu, 02 Dec 2010 04:37:39 -0800
    Pepsi Co. has agreed to acquire a two-thirds stake in Russian juice-maker Wimm-Bill-Dann for $3.8 billion. It then would seek to acquire the company's remaining shares via a follow-on offering.
  • You Told Us: Forbes crowdsources a cover package
    Thu, 02 Dec 2010 04:32:24 -0800
    Ever since my early days in journalism (a long time ago), I believed the audience could add valuable
  • The myth of 4G wireless
    Thu, 02 Dec 2010 04:28:44 -0800
    You've seen the 4G advertisements from T-Mobile, Sprint and Verizon, bragging about a much-better wireless network with blazing fast speeds.
  • Investment advice: Why bonds are best
    Thu, 02 Dec 2010 04:24:49 -0800
    Henderson's John Pattullo: Corporate bonds beat government debt.
  • SEC and several banks discuss ending mortgage probe: report
    Thu, 02 Dec 2010 04:22:57 -0800
    BANGALORE (Reuters) - U.S. securities regulators are in preliminary talks with several banks to resolve probes involving sales of complex mortgage bond deals that led to the financial crisis, the...

  • Third-quarter demand for foreclosed homes plummets: survey
    Thu, 02 Dec 2010 04:17:11 -0800
    Buyers looking to purchase a foreclosed home saw the largest price discounts in almost five years as demand for foreclosed homes plummeted in the third quarter, a closely watched industry survey said.
  • RBS timeline: where it all went wrong
    Thu, 02 Dec 2010 04:11:43 -0800
    From the ill-fated ABN Amro deal to "Fred the Shred's" controversial pension, here are the events that led up to Thursday's FSA announcement.
  • ECB hopes lift world stocks, euro
    Thu, 02 Dec 2010 04:10:26 -0800
    LONDON (Reuters) - World stocks rose for a second straight day on Thursday while the euro extended its hefty gains as expectations grew the European Central Bank might deliver measures to alleviate worries over euro zone debt.
  • Millions of households taking on more debt
    Thu, 02 Dec 2010 04:04:14 -0800
    Millions of households are falling behind with their bills as an extra 40 per cent take on more debt to cover the costs, insolvency experts report.
  • Shipping Corp share sale fully covered - data
    Thu, 02 Dec 2010 04:00:27 -0800
    MUMBAI (Reuters) - State-run Shipping Corporation of India's up to $259 million follow-on share sale got fully subscribed on Thursday, stock exchange data showed.
  • JJB Sports shares plummet on fears it will breach bank covenants
    Thu, 02 Dec 2010 03:55:27 -0800
    Shares in JJB Sports fell as much as 32.5pc on Thursday after the retail group warned it was likely to breach financial covenants.
  • US stocks set to open higher
    Thu, 02 Dec 2010 03:54:13 -0800
    Futures on major U.S. indices point to higher opening on Thursday ahead of key weekly U.S. jobs data and pending home sales report.
  • Business Bullet: US jobs, Rolls Royce, Tui, OFT
    Thu, 02 Dec 2010 03:54:00 -0800
    Latest news on: US jobs, Rolls Royce, Tui, OFT
  • Pepsi to buy Russia's WBD for $5.8 bln - Ifax
    Thu, 02 Dec 2010 03:50:26 -0800
    MOSCOW (Reuters) - Pepsico Inc has agreed to buy Wimm-Bill-Dann for $5.8 billion, Interfax news agency reported on Thursday, sending shares in the Russian juice and dairy producer up some 27 percent in Moscow.
  • PepsiCo Becomes Russia's Biggest Food, Beverage Co. With Wimm-Bill-Dann Buy
    Thu, 02 Dec 2010 03:41:14 -0800
    PepsiCo Inc. announced an agreement to acquire 66 percent of Russia's dairy and fruit juice company Wimm-Bill-Dann Foods for $3.8 billion to boost its base in key markets in Eastern Europe and Central Asia. Upon completion of the deal, PepsiCo will be around twice the size of its nearest food and beverage competitor in Russia.
  • Govt to revise upwards FY11 GDP forecast - adviser
    Thu, 02 Dec 2010 03:40:26 -0800
    NEW DELHI (Reuters) - The government will upwardly revise its economic growth forecast for the fiscal year that ends in March 2011, Chief Economic Adviser to the finance ministry, Kaushik Basu said on Thursday.
  • WikiLeaks says will also expose corporate world
    Thu, 02 Dec 2010 03:34:31 -0800
    LONDON (Reuters) - Whistle-blowing website WikiLeaks, which is causing an international storm over its release of confidential diplomatic cables, said it would also publish disclosures from the...

  • Government defiant amid parliament deadlock
    Thu, 02 Dec 2010 03:30:27 -0800
    NEW DELHI (Reuters) - India's embattled coalition government on Thursday rammed another spending bill through parliament in defiance of a deadlock over corruption scandals that has slowed the passage of major reform legislation.
  • TUI sees Britons turning to all-inclusive holidays as it narrows loss
    Thu, 02 Dec 2010 03:24:24 -0800
    TUI, Europe's largest tour operator, said reduced capacity and slower bookings following the disruption caused by the Eyjafjallajökull volcano in Iceland pulled it to a pre-tax loss, despite an increase in Scandinavian and Belgian travellers.
  • Pepsi says to buy Russia's WBD for $5.4 billion
    Thu, 02 Dec 2010 03:23:21 -0800
    MOSCOW (Reuters) - Pepsico Inc said on Thursday it had agreed to buy Russian juice and dairy producer Wimm-Bill-Dann for $5.4 billion.

  • Sir Fred Goodwin in the clear as FSA ends RBS bail-out inquiry
    Thu, 02 Dec 2010 03:12:08 -0800
    Sir Fred Goodwin, the former chief executive of the Royal Bank of Scotland, has escaped punishment by the financial regulator, despite a "series of bad decisions" in 2007 and 2008.

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