Stock Markets/ business NewsObama outlines strategy to boost exports (Reuters)2010-03-11 12:13 Reuters - President Barack Obama, anxious to spur growth and tackle high unemployment, on Thursday laid out a plan for tougher enforcement of trade laws, government advocacy and credit assistance to double U.S. exports in five years Americans' net worth up for 3rd straight quarter (AP) 2010-03-11 12:12 AP - American households saw their wealth increase at the end of last year, mainly because the healing economy boosted stock portfolios Stocks trade flat on concern about China inflation (AP) 2010-03-11 12:03 AP - Stocks traded in a tight range for a fourth day Thursday after China reported a jump in inflation. Mixed U.S. economic news also held the market back Oil prices drift below $82 (AP) 2010-03-11 12:03 AP - Oil prices drifted below $82 on Thursday, as investors mulled demand uncertainties and a government report that showed the country's huge natural gas reserves shrank a little last week (AP) 2010-03-11 12:00 AP - Fed: Americans' net worth grows in Q4 to $54.2 trillion, third straight quarterly gain. 'No giveaway Budget' says Darling 2010-03-11 12:00 Chancellor Alistair Darling warns people not to expect a "giveaway" when he unveils the government's Budget later this month. Treasurys down ahead of 30-year auction 2010-03-11 11:58 Treasurys traded lower Thursday ahead of a government auction of $13 billion in 30-year bonds. U.S. traffic deaths down; regulators probed on Toyota (Reuters) 2010-03-11 11:55 Reuters - U.S. traffic deaths in 2009 hit their lowest level in since the mid-1950s, according to preliminary data released ahead of a congressional hearing expected to take a critical view of auto regulators response to recent safety problems at Toyota Motor Corp Safety Regulator Plans Closer Look at Electronics in Cars 2010-03-11 11:54 The National Highway Traffic Safety Administration will also explore whether data recorders should be mandatory in all cars. Stocks Are Quiet While Currencies Scream (The Motley Fool) 2010-03-11 11:53 The Motley Fool - After a down January, the stock market is again positive for the year. The much-fabled January effect barometer didn't work in 2009, and it remains to be seen if it will work in 2010. Economic data has continued its slow improvement, keeping stocks fairly calm. The wild action so far this year has been in the currency markets. Record judgement: Pink Floyd win EMI court battle 2010-03-11 11:52 Pink Floyd tracks may be removed from digital music services like iTunes after a High Court ruling. Dodd to Offer Financial Regulation Bill Without G.O.P. 2010-03-11 11:52 A Republican on the Senate Banking Committee called Senator Christopher J. Dodd’s plan to proceed without more negotiations "very disappointing." Jobless claims by state, at a glance (AP) 2010-03-11 11:49 AP - First-time claims for unemployment benefits slipped last week by 6,000 to 462,000 for the week ending March 6. The total nearly matched analysts' estimates and was the second straight drop. Obama pushing a new export initiative (AP) 2010-03-11 11:48 AP - President Barack Obama sought Thursday to put some detail behind his lofty drive to double U.S. exports over the next five years, calling the effort imperative to putting people back to work. But doubts remain about how many net jobs his trade agenda will create — and how he will get it done Summary Box: Jobless claims drop for second week (AP) 2010-03-11 11:46 AP - JOBLESS CLAIMS DROP: New claims for unemployment benefits fell last week to a seasonally adjusted 462,000, nearly matching analysts' estimates. It was the second straight drop. World stocks subdued after Chinese inflation jump (AP) 2010-03-11 11:46 AP - European and U.S. stock markets fell modestly Thursday amid growing concerns of an overheating Chinese economy and as investors awaited further insight into the state of the U.S. economic recovery How free markets sank the U.S. economy (Reuters) 2010-03-11 11:45 Reuters - Two years ago, a poisonous brew of bad economics, lax regulation, and egregious behavior boiled over, scalding the financial system and pitching the United States into its steepest downturn since the Great Depression. First-time jobless claims drop slightly last week (AP) 2010-03-11 11:43 AP - The number of newly laid-off workers requesting unemployment benefits slipped last week, but remains above the level many economists say would signal new hiring Financial reform deal fails, Dodd to move ahead 2010-03-11 11:43 WASHINGTON - Senator Christopher Dodd said on Thursday that he will present on Monday his own version of a financial reform bill after compromise talks with Senate Republicans broke down. Pink Floyd wins battle with EMI over online sales (AP) 2010-03-11 11:41 AP - In a victory for the concept album, Britain's High Court on Thursday ordered record company EMI Group Ltd. to stop selling downloads of Pink Floyd tracks individually rather than as part of the band's original records Smart Spending: Wedding gifts on a budget (AP) 2010-03-11 11:39 AP - Spring has sprung and so have the wedding invitations. They'll be joyous events, but finding the perfect gifts to bring along can be stressful during these tough economic times BP to pay Devon $7 billion for oil fields 2010-03-11 11:39 LONDON/NEW YORK - BP will pay $7 billion to Devon Energy for assets that will extend its reach into Brazil and bulk up its position in the Gulf of Mexico, as the world's top oil companies look to acquisitions to refill depleting reserves. Obama’s Student Loan Overhaul Endangered 2010-03-11 11:38 House Democrats were desperately trying to prevent an ambitious overhaul of student loan programs from becoming a casualty of the health care battle. US trade gap narrows on falling imports, exports (AFP) 2010-03-11 11:37 AFP - The US trade deficit narrowed unexpectedly in January as imports and exports declined and overall volume fell for the first time in five months, the government reported Thursday Stolen Swiss bank data at HSBC hits 24,000 clients (AFP) 2010-03-11 11:34 AFP - A Swiss unit of global banking giant HSBC revealed Thursday that details on 24,000 bank customers may have been leaked in a major security breach that has helped fuel pressure on Switzerland over tax evasion BMW and VW Results Show Money Is Still in Selling Luxury Cars 2010-03-11 11:30 The earnings suggest makers of the lower-priced cars that most people drive could struggle with meager profits for years to come. Mortgage rates remain below 5 percent (AP) 2010-03-11 11:23 AP - Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire Avatar Helps IMAX Break Records 2010-03-11 11:20 Theater outfitter gains on strong fourth-quarter and international deals in its pipeline. EU prepares in case Greek woes spread to Spain (Reuters) 2010-03-11 11:18 CANADA STOCKS-TSX falls as China data weighs on miners (Reuters) 2010-03-11 11:18 FOREX-Euro steadies vs dollar, yen; SNB awaited (Reuters) 2010-03-11 11:18 Dodd to Offer Financial Regulation Bill Without GOP - New York Times 2010-03-11 11:18 Should Carlos Slim eye the NY Times? - MarketWatch 2010-03-11 11:18 Foreclosure rates up by smallest amount in 4 years - The Associated Press 2010-03-11 11:18 Pork Problems Can't Spoil Smithfield's Profit - Forbes 2010-03-11 11:18 Avatar Helps IMAX Break Records - Forbes 2010-03-11 11:18 Jobless Claims in US Declined Last Week to 462000 - BusinessWeek 2010-03-11 11:18 BP Sambas Up with Devon Deal - Wall Street Journal 2010-03-11 11:18 Obama issues new call on China over yuan (AFP) 2010-03-11 11:10 AFP - US President Barack Obama Thursday called on China to embrace a "market oriented" exchange rate for its yuan currency, saying such a move would help rebalance the global economy Wall Street, Weighing Chinese Inflation Data, Is Mixed 2010-03-11 11:10 Indexes traded within a narrow range amid concerns of an overheating Chinese economy and after jobless filings in the United States fell less than expected. FuelCell Gets A Lift From Air Products 2010-03-11 11:08 Subcontract integrates clean energy technology into new hydrogen fueling station. HMRC ready to back Pompey set-up 2010-03-11 11:08 The validity of Portsmouth's administration will not be challenged by HM Revenue & Customs, the BBC learns. CFTC head scolds Wall Street for resisting reforms (Reuters) 2010-03-11 11:05 Reuters - The head of the top U.S. futures regulator chided Wall Street on Thursday for resisting calls to make over-the-counter derivatives markets more transparent, arguing major reforms are required after the recent financial crisis. Retail leaders group spent $850,000 lobbying in 4Q (AP) 2010-03-11 11:05 AP - The Retail Industry Leaders Association spent $850,000 in the fourth quarter to lobby on a variety of issues from health care reform to consumer product safety, according to a recent disclosure report. Yahoo! A Value Trap 2010-03-11 11:01 While the stock is attractively priced, one firm worries it will continue to cede market share to Google. Pork Problems Can't Spoil Smithfield's Profit 2010-03-11 11:00 Meat producer posts first profit in more than a year, thanks to strength in packaged meats. Nasdaq turns positive 2010-03-11 10:59 NEW YORK - The Nasdaq turned positive and the Dow and S&P 500 pared losses on Thursday as big-cap technology shares rose, offsetting worries about money tightening in China. BP Gets Into Brazil 2010-03-11 10:50 British petroleum firm will acquire assets from Devon Energy for $7B. Police clash with protesters as Greeks fight cuts (Reuters) 2010-03-11 10:46 Reuters - Police clashed with stone-throwing youths in Athens on Thursday as tens of thousands protested draconian cutbacks aimed at pulling Greece out of a debt crisis shaking the euro zone VW and BMW report lower profits 2010-03-11 10:41 German carmakers Volkswagen and BMW report falling profits after the global downturn hit demand for cars. Jobless claims fall, trade gap narrows (Reuters) 2010-03-11 10:38 Reuters - The number of U.S. workers filing new applications for unemployment benefits fell slightly less than expected last week, hinting at a slow labor market recovery A Futures Site Coming to Bet on Movie Ticket Sales 2010-03-11 10:33 A virtual futures exchange is being assembled to allow people to bet money on a film’s box office success. Greeks stage fresh general strike 2010-03-11 10:32 Greek public and transport services grind to a halt and clashes break out during a third strike over austerity measures. Obama to Create Export Promotion Cabinet to Promote Trade 2010-03-11 10:30 The administration’s announcement comes as America’s trade deficit narrowed in January, largely because of a drop in spending on oil and cars and a decrease in exports like airplanes. California revenue jumps, tax refunds should be paid on time (Reuters) 2010-03-11 10:26 Reuters - California's revenue in February was $480 million or 8.7 percent above the estimate in Governor Arnold Schwarzenegger's state budget plan, so tax refunds should be paid on time, State Controller John Chiang said on Wednesday. New Strike Paralyzes Greece 2010-03-11 10:19 For the second time in two weeks, a general strike closed public services, halting all flights and most transport across the debt-plagued country. US senator to unveil new financial overhaul plan (AFP) 2010-03-11 10:17 AFP - A key US senator said Thursday he would unveil new legislation come Monday to rewrite US financial rules and prevent a repeat of the global economic meltdown of 2008 Leaders in House Block Earmarks to Corporations 2010-03-11 10:13 The ban would wipe out one of the most controversial means of awarding no-bid contracts to private firms. EADS to cut bonuses, not jobs after A400M: exec 2010-03-11 10:11 HELSINKI - Top executives at aerospace group EADS will see their bonuses hit after the cost debacle surrounding the delayed A400M military transport aircraft, but staff will mostly be spared, its top personnel executive said on Thursday. Foreclosure rates up by smallest amount in 4 years (AP) 2010-03-11 10:10 AP - The foreclosure crisis isn't over, but the pace of growth may finally be slowing down Exxon Mobil boosts 2010 spending 4 percent (Reuters) 2010-03-11 10:06 Reuters - Exxon Mobil Corp will increase its capital spending nearly 4 percent this year to $28 billion as it evaluates new fields around the world, but it cautioned that the global economy remained unsteady. US trade deficit in surprise fall 2010-03-11 10:03 The US trade deficit narrowed unexpectedly in January as fewer foreign cars and less crude oil were imported. Stocks in early selloff 2010-03-11 09:59 Stocks inched lower Thursday morning as investors weighed a drop in weekly jobless claims, a narrower-than-expected U.S. deficit and sliding commodity prices. High-speed rail plans announced 2010-03-11 09:51 Plans for a new high-speed rail line between London and Birmingham are announced by Transport Secretary Lord Adonis. Oil slips on job worries 2010-03-11 09:50 Oil prices fell Thursday, amid higher continuing jobless claims. Simon CEO: General Growth rival plan is uncertain 2010-03-11 09:49 NEW YORK - The chief executive of Simon Property Group Inc on Thursday said a plan by management of General Growth Properties Inc to emerge from bankruptcy lacks certainty despite new financial backing. HSBC admits huge Swiss data theft 2010-03-11 09:48 About 24,000 clients of HSBC's private banking operation in Switzerland had personal details stolen, the bank admits. Highway deaths drop to lowest levels since 1950s (AP) 2010-03-11 09:43 AP - U.S. highway deaths have fallen to their lowest levels since the 1950s, as more motorists bought into buckling up and embraced safety innovations. A sour economy that dampened traveling instincts also was a contributor. Obama to sign order to execute export-doubling strategy (AFP) 2010-03-11 09:41 AFP - US President Barack Obama will sign an executive order Thursday to put into action his ambitious strategy to double American exports to ease an unemployment crisis at home, officials said Trade deficit shrinks as auto and oil imports drop (AP) 2010-03-11 09:28 AP - The U.S. trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars. American exports also fell, a potential blow to hopes that the economic recovery will be aided this year by U.S. sales abroad Union considering BA strike dates 2010-03-11 09:27 Union leaders representing British Airways cabin crew are meeting to decide whether to announce dates for a strike. Claims firm solicitors shut down 2010-03-11 09:25 A firm of solicitors which worked for a leading claims management company has been shut down by the solicitors' regulator. Jobless Filings Fall, but Not as Much as Expected 2010-03-11 09:06 A new report on weekly filings for first-time jobless claims was the latest indication of a slow recovery in the labor market. Best Cities To Rent And Own 2010-03-11 09:00 New Forbes index shows many coveted neighborhoods favor tenants. Jan trade gap narrows unexpectedly due to oil (Reuters) 2010-03-11 08:56 Reuters - The U.S. trade deficit narrowed unexpectedly in January as oil imports fell to their lowest since February 1999, a government report showed on Thursday. Imax posts 4Q profit, reversing loss (AP) 2010-03-11 08:47 AP - Giant-screen movie technology company Imax Corp. posted a fourth-quarter profit Thursday, reversing a year-ago loss on a sharp jump in its movie theater equipment sales and rentals. German economy to shrink in Q1, think tank says (AP) 2010-03-11 08:34 AP - A leading German think-tank says it expects the country's economy — Europe's biggest — to contract in the first quarter because of an unusually harsh winter. Red Knights get advisers for bid 2010-03-11 08:34 The Red Knights group eyeing a possible bid for Manchester United says investment bank Nomura will advise it. HSBC says Swiss data theft affects 24,000 accounts 2010-03-11 08:27 LONDON/GENEVA - HSBC , Europe's biggest bank, said a theft of data by a former employee affected up to 24,000 Swiss client accounts, dealing a hefty blow to the reputation of its private bank. Man Utd in Malaysia sponsor deal 2010-03-11 08:21 Manchester United signs a five-year sponsorship deal with communications group Telekom Malaysia. The Ambitions of Prudential's Tidjane Thiam (BusinessWeek) 2010-03-11 08:08 BusinessWeek - According to insiders at Prudential Plc , Tidjane Thiam, the chief executive of the insurer which said last week that it was bidding $35.5bn (23.6bn) to buy AIG's Asian insurance business is a firm believer in emotion over analysis. Stolen Bank Data Involved Thousands of Clients, HSBC Says 2010-03-11 08:04 HSBC said the theft of Swiss client data at the heart of a recent tax dispute with France was vastly larger than it had previously acknowledged, involving at least 24,000 clients. Hawaii jobless rate inches upward, led by tourism (AP) 2010-03-11 08:02 AP - Hawaii's unemployment rate inched upward in January, led by large job losses in the tourism sector of the state's economy, the state reported Wednesday. Mexican shakes up world rich list 2010-03-11 07:39 Mexican Carlos Slim Huan overtakes Bill Gates as the world's richest man, according to the Forbes 'rich list'. Dollar mixed ahead of jobs data 2010-03-11 07:11 The dollar was mixed against other currencies Thursday, down against the pound and flat against the euro and yen, ahead of U.S. economic data. Rail union workers vote to strike 2010-03-11 07:03 Network Rail maintenance workers vote in favour of strikes, bringing about the possibility of action over Easter. Scottish Power to cut gas bills 2010-03-11 06:52 The energy company Scottish Power says its gas prices will fall by around £66 a year and vulnerable customers will get extra help. John Lewis staff get £151m bonus 2010-03-11 06:44 Department store group John Lewis reports a 9.7% rise in annual profits to £306.6m as staff share a bumper bonus. Chinese Consumer Prices Rise 2.7% 2010-03-11 06:34 The year-on-year rise in February was partly attributable to the Lunar New Year holiday but also to rising inflationary pressures in China’s economy. World airline sector 'recovering' 2010-03-11 06:27 The global airline industry will recover strongly this year, as passenger and freight numbers improve, its trade body says. Capital Controls Expand 2010-03-11 06:00 The use of capital controls can help diminish financial market volatility. Driven to Distraction: Distracted Driving in Ambulances and Police Cruisers 2010-03-11 05:49 Police and paramedics use an array of dashboard devices, a boon for their jobs that also presents a clear risk. Japan's economic growth rate cut 2010-03-11 05:31 Japan's economy grew by less than first estimated in the final quarter of 2009, revised government figures show. FTSE reshuffle promotes Investec 2010-03-11 05:28 Banking group Investec is to join the FTSE 100 following the latest reshuffle of the UK stock market indexes. Airline Group Halves Forecast for Losses in 2010 2010-03-11 05:10 The International Air Transport Association said passenger traffic was increasing due to a stronger-than-expected economic recovery in emerging markets. A.I.G.'s Sale of Its Taiwan Unit in Regulatory Limbo 2010-03-11 05:02 Officials are investigating whether the buyers are funded by China, a historical foe of the island nation. BP Gains Access to Brazilian Offshore Fields 2010-03-11 04:52 BP is paying Devon Energy $7 billion for oil and gas assets in Brazil, the Gulf of Mexico and Azerbaijan. Bank of China Plans New Share Offering 2010-03-11 04:45 Bank of China said it wants to issue more shares in Hong Kong soon, an offering that could strengthen its balance sheet by some $7.7 billion. China inflation at 16-month high 2010-03-11 04:41 Chinese inflation hit a 16-month high in February, leading to calls for the government to take measures to cool the economy. BP to explore for oil in Brazil 2010-03-11 04:30 Oil giant BP announces a $7bn (£4.7bn) deal that will allow it to begin exploring for oil off the coast of Brazil. TARP Oversight Panel Finds Fault With GMAC Bailouts 2010-03-11 04:01 A report to be released Thursday questions the Bush administration’s decision to rescue "a company that apparently posed no systemic risk to the financial system." Profits halve for Scotsman owners 2010-03-11 03:59 Johnston Press, the owners of the Scotsman and Yorkshire Post, sees full year pre-tax profits fall by 56% to £43m. Neighbors Oppose Green Label for the Software Mogul Mitch Kapor’s Big House 2010-03-11 03:50 When the software mogul Mitch Kapor won planning approval for his 10,000-square-foot house in Berkeley, Calif., neighbors were surprised that it will qualify as "green." Daihatsu recalling cars in Japan 2010-03-11 03:26 Carmaker Daihatsu, a subsidiary of Toyota, is recalling 274,551 vehicles in Japan because of a number of possible defects. Morrisons profit up on new stores 2010-03-11 03:12 The UK's fourth biggest supermarket group, Morrisons, reports a 30% rise in annual profits after it opens more stores. Booting up Brazil 2010-03-11 02:55 Brazil exploits potential as web use spreads Tricks to Keep Your Device’s Battery Going and Going 2010-03-11 02:30 Smartphone and laptop batteries may seem like cruel masters when they threaten to lose power, but you have more control than you may think. In Japan, a Basic Airport Betting on Bargain Airlines 2010-03-11 02:20 Passengers will board from the tarmac at a new no-frills airport north of Tokyo that intends to attract more low-cost airlines to Japan. British Airways, American and Iberia Move Toward Alliance 2010-03-11 02:20 To appease regulators, British Airways, American Airlines and Iberia will cede takeoff and landing spots at airports serving New York and London. Reuters Breakingviews: Barclays Has an Appetite for a U.S. Bank 2010-03-11 02:10 The revelation that Barclays, the British bank, is interested in buying a United States bank suggests it wants to become a familiar face on America’s Main Street, too. Doubts over 2012 Olympics legacy 2010-03-11 02:09 A Welsh MP echoes concerns of a former UK sports minister on the benefits of the London Olympics to the rest of the country. Northrop Withdrawal Brightens Boeing’s Future 2010-03-11 02:00 Boeing will now have some welcome certainty about its future as a major builder of military aircraft. State of the Art: Multitouch Computing Is Here. Will Gorilla Arm Follow? 2010-03-11 01:24 Finger gestures used on the iPhone can now be used on laptops and full-size computer screens, but the tactile experience isn’t quite the same. The Mouse That Roared: Turning to the Internet to Catch a Favorite TV Show 2010-03-11 01:09 With new devices making it easy to stream Internet content to a television, more people are watching cable shows for free. Businesses Continued to Reduce Inventories in January 2010-03-11 01:00 Wholesale inventories declined 0.2 percent in the first month of the year, as businesses remained cautious about restocking their depleted shelves. Bill to Include Agency That Tracks Financial Risk 2010-03-11 00:50 The main purpose of the agency, sometimes referred to as the National Institute of Finance, would be to flag problems in the industry before they spread and threaten the wider economy. 5 States Posted Highs for Joblessness in January 2010-03-11 00:50 Unemployment rose in 30 states in January, the Labor Department said, which was somewhat better than December, when 43 states reported higher jobless rates. Alumni Offer Goldman Advice on Helping Small Businesses 2010-03-11 00:50 Ex-Goldman Sachs employees are sharing their ideas about what their old firm can do to help small businesses. Planned Electric Rate Increase in Los Angeles May Affect Solar Power 2010-03-11 00:12 Proceeds from an electric rate increase would be earmarked for renewable energy purchases and programs. China Exports Rise 46% on Demand From West 2010-03-11 00:10 Some economists suggested the robust growth could increase pressure on China to let its currency appreciate against the dollar. |
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