Friday, January 21, 2011

Business News - 21 January 2011

  • From the West Bank, Fair-Trade Olives
    Fri, 21 Jan 2011 06:42:41 -0800
  • US stocks open higher on upbeat earnings
    Fri, 21 Jan 2011 06:41:40 -0800
    US stocks advanced in early trade on Friday as upbeat quarterly results from General Electric and Google and strong German IFO business sentiment data boosted investor sentiment.
  • Blizzard Plays Nice, Invites World of Starcraft Creator to HQ
    Fri, 21 Jan 2011 06:30:19 -0800
    Blizzard is in full damage control mode after the internet assumed it was shutting down development
  • Will Eric Schmidt Become Apple CEO?
    Fri, 21 Jan 2011 06:28:30 -0800
    As the market will be concerned in the near-term with the management shuffle, an analyst at Jefferies hinted at a possibility that Eric Schmidt could become the Chief Executive of Apple.
  • Colombia’s Top Coffee Farmers Say Output May Drop
    Fri, 21 Jan 2011 06:25:28 -0800
    Colombia’s largest coffee-growing province may post lower production this year unless there’s enough sunshine in the next few weeks to allow plants to flower and later bear fruit, according to a grower’s leader.
  • BofA Reports Wider Loss on Costs Tied to Faulty Loans
    Fri, 21 Jan 2011 06:23:08 -0800
    Bank of America Corp., the largest U.S. bank by assets, reported a $1.24 billion fourth-quarter loss as costs mounted for refunds, writedowns and litigation tied to faulty mortgages.
  • US Airways, Expedia Reach Accord Amid Ticket Dispute at American
    Fri, 21 Jan 2011 06:21:55 -0800
    US Airways Group Inc. reached a new multiyear agreement for Expedia Inc. to provide consumers all its fare and flight data, even as the online travel agency is embroiled in a ticketing dispute with American Airlines.
  • HP shakes up board, adds Meg Whitman and 4 others
    Fri, 21 Jan 2011 06:16:50 -0800
    SAN FRANCISCO (Reuters) - Hewlett-Packard Co is shaking up a board criticized by many as dysfunctional, bringing in five new directors including former eBay chief Meg Whitman, as new CEO Leo...

  • Airgas profit beats, boosts dividend
    Fri, 21 Jan 2011 06:12:57 -0800
    NEW YORK (Reuters) - Industrial gas supplier Airgas Inc , which is fending off a hostile takeover by rival Air Products and Chemicals Inc , posted a higher-than-expected quarterly profit on Friday...

  • Petrobras Record Bond Sale Spurs Drop: Brazil Credit
    Fri, 21 Jan 2011 06:11:01 -0800
    Petroleo Brasileiro SA’s record $6 billion international debt offering is sparking the biggest slide in the state-run Brazilian oil company’s bonds in 10 weeks as it creates a supply glut.
  • Google Plans "Google Offers" To Take On Groupon
    Fri, 21 Jan 2011 06:09:28 -0800
    In you can?t buy them, clone them. That?s what Google is going to do. Just weeks ago, lo
  • Google: Schmidt out, Page in
    Fri, 21 Jan 2011 06:08:33 -0800
    Google CEO Eric Schmidt will step down from his role as Google's CEO in April and be replaced by co-founder Larry Page.
  • Nigeria told to reduce ministries
    Fri, 21 Jan 2011 06:08:32 -0800
    Nigeria's president is told by a key advisory panel to cut government's running costs by reducing ministries to free money for development schemes.
  • Bank Of America Posts Billion-Dollar Loss Tied To Mortgages
    Fri, 21 Jan 2011 06:05:00 -0800
    Firm misses Street estimates to cap off mixed earnings season for big banks.
  • Cameron’s Press Chief Coulson Quits on Phone-Hacking Allegations
    Fri, 21 Jan 2011 06:04:04 -0800
    David Cameron’s press chief, Andy Coulson, quit over alleged phone tapping when he edited Rupert Murdoch’s News of the World newspaper, prompting opposition Labour Party attacks on the U.K. prime minister’s judgment.
  • Bangladesh suspends trading firms
    Fri, 21 Jan 2011 06:01:16 -0800
    Bangladesh has suspended six trading houses on the main Dhaka Stock Exchange.
  • BofA posts loss on mortgage problems
    Fri, 21 Jan 2011 06:01:07 -0800
    CHARLOTTE, North Carolina (Reuters) - Bank of America Corp, the largest U.S. bank by assets, reported a second straight quarterly loss as mortgage woes continue to saddle the bank with billions in...

  • Snow Ends in New York, Ushering in Season’s Worst Cold
    Fri, 21 Jan 2011 06:00:04 -0800
    The snow that made a mess of New York City’s morning commute will be followed by a blast of Arctic air and the coldest days of the season, forecasters said.
  • GE results portend stronger economy, shares rise
    Fri, 21 Jan 2011 05:57:30 -0800
    BOSTON (Reuters) - General Electric Co reported better-than-expected quarterly earnings, helped by the recovery of its finance arm and its first rise in overall revenue since late 2008.

  • AutoNation's Shares Rev Up
    Fri, 21 Jan 2011 05:57:12 -0800
    AutoNation analysts are expecting fantastic growth rates over the next few years. There's still time
  • Wall St set for higher open after GE results
    Fri, 21 Jan 2011 05:56:27 -0800
    NEW YORK (Reuters) - Wall Street was set for a higher open on Friday after two days of declines as strong earnings from General Electric and Google boosted investor optimism.

  • Snow hits Christmas retail sales
    Fri, 21 Jan 2011 05:50:24 -0800
    The volume of December retail sales was unchanged from the previous year, hit by snow and rising prices, figures show.
  • Prada Said to Decide on IPO by End of Month, Open 90 Stores
    Fri, 21 Jan 2011 05:49:30 -0800
    Prada SpA, the Italian fashion company that has scrapped initial public offerings four times in 11 years, may decide to proceed with an IPO by the end of the month, according to two people familiar with the situation.
  • Stocks poised for gains
    Fri, 21 Jan 2011 05:48:39 -0800
    U.S. stocks were headed for a higher open Friday, as investors continue to mull shakeups in the tech world and the latest earnings from General Electric and Bank of America.
  • Warner Music looking for potential buyers: source
    Fri, 21 Jan 2011 05:43:44 -0800
    NEW YORK (Reuters) - Shares in Warner Music Group climbed over 20 percent in premarket trade on Friday.

  • General Electric posts 31% earnings jump
    Fri, 21 Jan 2011 05:43:14 -0800
    General Electric logged higher fourth-quarter earnings and revenue Friday that beat Wall Street's expectations, getting a boost from its finance arm and strong growth in equipment orders.
  • GE profit lifted by rising orders
    Fri, 21 Jan 2011 05:42:24 -0800
    US conglomerate General Electric (GE) has seen a rise in profits after reporting strong growth in equipment orders.
  • Spain plans partial nationalization of savings banks
    Fri, 21 Jan 2011 05:41:44 -0800
    MADRID (Reuters) - Spain plans a partial state takeover of its weakest savings banks as it seeks to reassure investors a rescue will not weigh on its deficit, sources and reports said on Friday.

  • Pre-Market NASDAQ Movers (DNBK, DSCM, CYTX, GLUU, MU, ACOR, VVUS, SYNA, MNKD, BIIB)
    Fri, 21 Jan 2011 05:36:52 -0800
    The top pre-market NASDAQ stock market gainers are: Danvers Bancorp, Drugstore.com, Cytori Therapeutics, Glu Mobile, and Micron Technology. The top pre-market NASDAQ stock market losers are: Acorda Therapeutics, VIVUS, Synaptics, MannKind, and Biogen Idec.
  • OK, I get it.
    Fri, 21 Jan 2011 05:35:11 -0800
    A video illustrating a 100-foot yacht shows how web advertising has to work.
  • Schlumberger profit climbs, see strong 2011
    Fri, 21 Jan 2011 05:33:35 -0800
    NEW YORK (Reuters) - Schlumberger Ltd , the world's largest oilfield services company, posted a higher-than-expected profit boosted by strong demand in North America, and said it expected brisk...

  • UK high street squeezed by the flight to quality
    Fri, 21 Jan 2011 05:27:37 -0800
    Luxury goods retailer Mulberry's announcement of a strong performance over Christmas came on the same day that ONS figures revealed UK-wide retail sales in December were the worst on record.
  • Halifax latest to withdraw best mortgage deals
    Fri, 21 Jan 2011 05:23:35 -0800
    Time is running out to grab the best mortgage deals, with the UK's biggest lender the latest to withdraw deals.
  • What next for worried borrowers?
    Fri, 21 Jan 2011 05:21:19 -0800
    This week's inflation figures have reignited the debate over when rates might rise. The result is that expectations of a rate increase have risen and any rise could come sooner than previously anticipated.
  • Singapore exchange to roll out world’s fastest trading engine
    Fri, 21 Jan 2011 05:16:06 -0800
    Singapore Exchange will start operating the world's fastest trading engine on August 15 that can handle 1 million order book changes per second per partition, said a media report.
  • Rewards May Exist In Muni Bonds
    Fri, 21 Jan 2011 05:15:15 -0800
    Worries about state and local government debt continue to drive money out of municipal (aka ?m
  • Verizon sees $600 million accounting change charge
    Fri, 21 Jan 2011 05:04:12 -0800
    NEW YORK (Reuters) - Verizon Communications Inc plans to report a $600 million charge for the full year 2010 due to a change in the way it accounts for retirement benefits, following the lead of...

  • Pre-market movers on Jan. 21 (GE, AIG, MU, GOOG, SLB, SLE, BAC, BIIB)
    Fri, 21 Jan 2011 04:56:57 -0800
    The companies whose shares are moving in pre-market trade on Friday are: General Electric, Google, Micron Technology, Sara Lee, American International Group, Schlumberger and Biogen Idec.
  • Mortgage lending at lowest level for a decade
    Fri, 21 Jan 2011 04:42:32 -0800
    Mortgage advances sunk to their lowest level in ten years during 2010 as the lending drought intensified.
  • NovaMed To Go Private For $13.25/Share
    Fri, 21 Jan 2011 04:41:54 -0800
    Ambulatory surgery centers operator NovaMed Inc. (NOVA) said it agreed to go private and be acquired by an affiliate of Surgery Center Holdings, Inc. for $13.25 a share in cash.
  • Business Bullet: UK retail sales, RBS, MPC vote, BA
    Fri, 21 Jan 2011 04:37:32 -0800
    Latest news on: UK retail sales, RBS, MPC vote, BA
  • Bulls Slip But Don't Fall
    Fri, 21 Jan 2011 04:37:21 -0800
    Bullish sentiment declined 1.6 percentage points to 50.7% in the latest AAII Sentiment Survey. This
  • President Hu Jintao's Goals For the U.S. Summit
    Fri, 21 Jan 2011 04:26:51 -0800
    MTD explains what President Hu Jintao hopes to gain from his visit to the United States.
  • Mulberry shrugs off retail gloom to ride the luxury boom
    Fri, 21 Jan 2011 04:24:46 -0800
    The luxury handbag and fashion group became the latest upmarket retailer to report a strong Christmas helped by demand from tourists and Asia.
  • Stocks set to open higher after Google, GE earnings
    Fri, 21 Jan 2011 04:22:47 -0800
    Futures on major U.S. indices point to a higher opening on Friday with futures on the S&P 500 up 0.15 percent, futures on the Dow Jones Industrial Average up 0.11 percent and Nasdaq100 futures up 0.15 percent.

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