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| 221 Business News - General Resources |
| AIG |
| AIG Taiwan bidder says unclear why offer rejected |
| The chief executive of China Strategic Holdings Ltd said on Wednesday that he did not understand the decision by Taiwan's regulators to block the $2.2 billion agreement to buy American International Group Inc's (AIG: 35.04 ,+1.18 ,+3.48%) Nan Shan Life Insurance unit. |
| View Source | September 1, 2010 | Provides Information |
| AIG decides against strategic investor for AIA-source |
| American International Group Inc has scrapped plans to sell a strategic stake in its Asian life insurance business, AIA, ahead of its initial public offering, a source familiar with the process said on Friday. |
| View Source | August 27, 2010 | Provides Information |
| AIG Commits To Sell Nan Shan Stake To China Strategic Consortium |
| American International Group Inc. said Tuesday it is committed to selling its stake in its Taiwan life insurance unit, Nan Shan Life Insurance Co., to the consortium led by China Strategic Holdings Ltd. and is confident the deal will be approved by Taiwan's regulator. |
| View Source | August 24, 2010 | Provides Information |
| AIG pays back $4 bln of U.S. loan |
| Bailed-out insurer American International Group Inc said Monday it paid back nearly $4 billion in U.S. loans in its single largest cash payment so far to reduce its debt to taxpayers. |
| View Source | August 23, 2010 | Provides Information |
| Talks Reportedly Imminent Over BAA Strike Threat |
| Talks to avert strike action at the six U.K. airports operated by BAA could begin this weekend, according to a BBC report. Members of the Unite union voted Thursday to strike after rejecting a pay offer from BAA, which is owned by Spain's Ferrovial. |
| View Source | August 13, 2010 | Provides Information |
| AIG talking to big investors on AIA IPO: sources |
| American International Group Inc has started talks with potential investors to sell stakes in its Asian life insurance business AIA ahead of AIA's planned IPO, sources with direct knowledge of the matter said. |
| View Source | August 12, 2010 | Provides Information |
| AIG May Sell New Stock To Repay Government |
| American International Group said Friday that its latest plan to repay the U.S. government could include the sale of a "large number" of new common shares of the insurer. That would lead to "significant dilution" of AIG's current common stockholders, the insurer warned in a regulatory filing Friday. |
| View Source | August 6, 2010 | Provides Information |
| AIG pays $23M in Gulf spill claims, total may rise |
| Taxpayers took another hit, this one indirect, from the oil spill caused by the Deepwater Horizon rig explosion through insurance claims related to the disaster. |
| View Source | August 6, 2010 | Provides Information |
| AIG Reports 2Q Loss on Hefty Goodwill Charge |
| American International Group said Friday it swung back into the red during the second quarter, but the government-owned insurance giant’s non-GAAP profit blew away Wall Street’s expectations. |
| View Source | August 6, 2010 | Provides Information |
| Airlines |
| Boeing Expanding 787 Test-Flight Fleet To 10 From 6 - Report |
| Boeing Co. is enlarging its test-flight fleet of 787 Dreamliners to 10 planes from the initially announced six, aviation industry blogger Jon Ostrower reports Wednesday, citing a research note by Richard Safran, an analyst with Buckingham Research. |
| View Source | September 1, 2010 | Provides Information |
| Continental Traffic Falls 0.4% In August |
| Continental said late Wednesday traffic in August fell 0.4% to 8.75 billion revenue passenger miles from 8.78 billion in August 2009. A revenue passenger mile is equal to one passenger flown one mile. |
| View Source | September 1, 2010 | Provides Information |
| JAL says to retire 103 planes, scrap 49 routes |
| Japan Airlines Corp, a debt-ridden carrier worth no more than a two-decade old jumbo when it was bailed out by the government in January, said it will retire 103 jets and scrap 49 routes in a bid to return to profit. |
| View Source | August 31, 2010 | Provides Information |
| Airlines Under Pressure As Major Carriers Decline |
| Airline stocks were mixed Friday with the major U.S. network carriers trading down modestly. The NYSE Arca Airline Index rose a fraction to 37.20 points with just four of its 13 components trading up. Shares of American parent AMR Corp. , Delta Air Lines and Continental were each off about 1%. Alaska Air rose 4 cents to $44.56 and Southwest added 2 cents to $10.84. |
| View Source | August 27, 2010 | Provides Information |
| Continental to give up Newark slots to Southwest |
| Continental Airlines will give up 36 slots at its Newark hub to Southwest Airlines in a bid to address antitrust concerns for its deal with United Airlines, the airlines said Friday. |
| View Source | August 27, 2010 | Provides Information |
| Troubled airline Mexicana to shut down Saturday |
| Mexicana de Aviacion, one of Mexico's two major airlines, will cease operations by midday Saturday, Mexico's Transport Minister Juan Molinar told reporters Friday. |
| View Source | August 27, 2010 | Provides Information |
| Air Berlin In Talks With Oneworld Partners Over Code Sharing |
| German carrier Air Berlin PLC is in talks with partners from the Oneworld airline alliance to launch its first code share flights from November, Chief Executive Joachim Hunold said Thursday. |
| View Source | August 26, 2010 | Provides Information |
| Air New Zealand profits signal airline recovery |
| Air New Zealand has reported a fourfold increase in profits, leading signs of recovery in the airline industry. |
| View Source | August 26, 2010 | Provides Information |
| Record $24.2 mln fine proposed for American Airlines |
| The U.S. government Thursday proposed to fine American Airlines $24.2 million for alleged maintenance violations that led to thousands of flight cancellations two years ago. |
| View Source | August 26, 2010 | Provides Information |
| Airlines Decline With Delta, AMR |
| Airline stocks declined for a fifth day Wednesday, with Delta Air Lines and American Airlines parent AMR Corp. leading the slump. The NYSE Arca Airline Index slipped 1% at last check to 37.48 points with all but two of its 13 components trading down. The benchmark Dow Jones Industrial Average fell less than 1% to 10,003.8 points. |
| View Source | August 25, 2010 | Provides Information |
| China Henan Airlines Removes Li Qiang As General Manager-Xinhua |
| China's Henan Airlines has removed Li Qiang as general manager and has named a new general manager Cao Bo, the state-run Xinhua News Agency reported Wednesday, citing the company's board of directors. |
| View Source | August 25, 2010 | Provides Information |
| U.S. air fares seen higher this fall |
| Travelers on U.S. airlines can look forward to higher fares and higher fees this fall as demand recovers from the 2009 economic recession, a top fare expert said Monday. |
| View Source | August 23, 2010 | Provides Information |
| Airbus: Tibet Airlines Orders Three A319 |
| Commercial aircraft builder Airbus is to provide the newly-established Tibet Airlines with three A319 aircraft, the Toulouse, France-based unit of European Aeronautic Defence & Space Co. NV said Thursday. |
| View Source | August 19, 2010 | Provides Information |
| Advent fund might invest in Mexicana air - reports |
| Investment fund Advent International could invest some $49 million into Mexico's Mexicana de Aviacion to keep the airline flying, local media and a union said Wednesday. |
| View Source | August 18, 2010 | Provides Information |
| American Airlines To Charge Extra For 'Express Seats' |
| Tapping into the seats that customers demand most, American Airlines said Wednesday it would begin charging passengers for the privilege of sitting in the seats closest to an airplane's front exit. |
| View Source | August 18, 2010 | Provides Information |
| Airline premium ticket demand jumps again in June |
| The number of passengers buying premium airline tickets jumped again in June, as economic recovery kept first and business seats filled, the airline industry association IATA said on Monday. |
| View Source | August 16, 2010 | Provides Information |
| US Airlines Carry 2.9% More Passengers in May |
| U.S. airlines had more of their seats filled in May than any year prior, the Department of Transportation said Thursday, while the industry carried 2.9% more passengers than the year before, a further sign of stabilization in air travel. |
| View Source | August 12, 2010 | Provides Information |
| Thai Airways Confirms Order For 7 Airbus Jets |
| Thai Airways International has firmed up a previously announced commitment to buy seven Airbus A330-300 wide-bodied commercial jets, the subsidiary of European Aeronautic Defence & Space Co NV (EAD.FR said Wednesday. |
| View Source | August 11, 2010 | Provides Information |
| US Airlines Work Force Fell 2.1% On Year In June - DOT |
| U.S. airlines saw their work force increase slightly from May to June as the figure fell 2.1% from a year earlier, completing two straight years of declines, the U.S. Department of Transportation said in its latest monthly report. |
| View Source | August 11, 2010 | Provides Information |
| Airports Authority Of India To Invest INR36.10 Billion This Fiscal Year - Official |
| India's Ministry of Civil Aviation will invest INR36.10 billion in the financial year that began April 1 to upgrade 36 airports, joint secretary Alok Sinha said Tuesday. |
| View Source | August 10, 2010 | Provides Information |
| Boeing assessing 787 manufacturing issues |
| Boeing Co is assessing new issues related to manufacturing the long-delayed 787 Dreamliner, but the company still aims to make first delivery of the plane by the end of this year, the chief executive of Boeing Commercial Airplanes said Tuesday. |
| View Source | August 10, 2010 | Provides Information |
| Ecuador Officially Signs New Quito Airport Finance Deal |
| A renegotiated financing deal for Quito's new international airport was officially signed late Monday night. |
| View Source | August 10, 2010 | Provides Information |
| British Airways Suspends Another BASSA Representative |
| British Airways PLC has suspended another member of cabin crew who also acts as a union representative for British Airlines Stewards and Stewardesses Association, highlighting continuing tensions between the airline and the BA union arm. |
| View Source | August 9, 2010 | Provides Information |
| Mexicana Drops More Flights As Problems Spread |
| The crisis at Mexicana deepened on Monday as Mexico's largest airline cut flights to a third of its network and said its financial problems had spread to two domestic units. |
| View Source | August 9, 2010 | Provides Information |
| Dubai leasing firm slashes Airbus order by $3 bln |
| Europe's Airbus said on Friday it had more than doubled its tally of 2010 orders due to a bumper Farnborough Airshow, however the pick-up was marred by $3 billion in cancelled orders from Dubai Aerospace Enterprise (DAE). |
| View Source | August 6, 2010 | Provides Information |
| JAL: Agree To Sell 79.6% Stake In JAL Hotel Unit To Hotel Okura |
| Japan Airlines Corp. said Friday that it will sell a 79.6% stake in its hotel business subsidiary by the end of September to Hotel Okura Co. as it is pushes ahead with its restructuring to focus on its airline business. |
| View Source | August 6, 2010 | Provides Information |
| Southwest Airlines July Traffic Up From a Year Ago |
| Southwest Airlines saw higher July traffic from a year ago and posted record-breaking load factor performance, the company said Friday. |
| View Source | August 6, 2010 | Provides Information |
| Air Berlin Passenger Traffic Up 6.4% In July |
| Air Berlin , Germany's second-largest airline company, said Thursday the number of passengers it transported in July rose 6.4% to 3.7 million compared to the same month last year. Fleet capacity utilization decreased by 2.1% to 81.2%. Shares of Air Berlin gained 1.6% in morning trading in Frankfurt. |
| View Source | August 5, 2010 | Provides Information |
| Delta July Traffic Up 0.5%, Capacity Down 0.3% |
| Delta Air Lines said Wednesday traffic in July rose 0.5% to 19.62 billion revenue passenger miles from 19.52 billion in July 2009. A revenue passenger mile is equal to one passenger flown one mile. Total capacity last month slid 0.3% to 22.22 billion available seat miles. Load factor, or the percentage of available seats filled with passengers, climbed 0.7 percentage point to 88.3%. |
| View Source | August 4, 2010 | Provides Information |
| US Airways Says Traffic Rose In July |
| US Airways said Wednesday its total July mainline traffic rose 1.1% to 5.72 billion revenue passenger miles from 5.65 billion revenue passenger miles a year ago. A revenue passenger mile is equal to one passenger flown one mile. |
| View Source | August 4, 2010 | Provides Information |
| Boeing Expects India To Buy 1,150 Commercial Planes By 2030 |
| Boeing Co. said Tuesday it expects India to buy 1,150 commercial planes by 2030 at a total cost of $135 billion due to rising demand for air travel in the world's second-fastest growing major economy. |
| View Source | August 3, 2010 | Provides Information |
| Bankruptcies |
| Iceland Central Bank Lowers Lending Rate To 7% |
| The Central Bank of Iceland on Wednesday said its Monetary Policy Committee decided to lower its official interest rates by one percentage point, the latest in a string of cuts. The move brings the bank's seven-day collateralized lending rate to 7%. The rate stood at 11.5% at the beginning of the year. |
| View Source | August 18, 2010 | Provides Information |
| Banks - Banking - Bank Bailouts - TARP - Toxic Assets - Treasury (The) |
| Citibank Revamps Checking Products Amid Industry Change |
| Citigroup Inc. is revamping its checking account products amid a transformation of U.S. banking, offering fewer, but simpler products, and charging higher fees for some customers. |
| View Source | September 1, 2010 | Provides Information |
| Fed Buys $900 Million In Treasury Buyback |
| The Federal Reserve Bank of New York purchased $900 million in Treasury debt maturing from 2012 to 2013 on Wednesday, part of officials' pledge to reinvest cash from maturing mortgage-backed securities and housing agency debt back into the bond market to support the economic recovery. |
| View Source | September 1, 2010 | Provides Information |
| U.S. Regulators say Bank Reforms Help Avoid Crises |
| New powers from the financial reform law will help avoid a repeat of 2008's frenzied sale of Wachovia and the wreckage that followed the collapse of Lehman Brothers, U.S. regulators said Wednesday. |
| View Source | September 1, 2010 | Provides Information |
| Wells Fargo Early On Floated Wachovia Purchase Without FDIC Aid - Ex-Wachovia CEO |
| Wells Fargo & Co. originally told then-Wachovia Chief Executive Robert K. Steel that the firm was interested in purchase without government assistance, Steel told an investigative panel on Wednesday. |
| View Source | September 1, 2010 | Provides Information |
| Big banks' profits rise, but more banks at risk |
| Number of banks on the FDIC's ‘problem’ list increased to 829 from 775 |
| View Source | August 31, 2010 | Provides Information |
| HDBank Gets Approval To Raise Capital To VND3.5 Trillion |
| The State Bank of Vietnam said Monday that it has given approval to Hochiminh City Housing Development Joint Stock Commercial Bank, or HDBank, to raise its registered capital to VND3.5 trillion ($180.4 million) from VND1.55 trillion. |
| View Source | August 30, 2010 | Provides Information |
| Treasury Sells 5-year Notes At Lowest Yield Ever |
| The Treasury Department sold $36 billion in 5-year notes on Wednesday at a yield of 1.374%, the lowest ever at auction but slightly higher than traders expected. The amount is $1 billion less than last month's sale and the smallest offering since May 2009. Bidders offered to buy 2.83 times the amount of debt sold, compared to an average of 2.65 times at the last four sales of 5-year notes. |
| View Source | August 25, 2010 | Provides Information |
| Deposit Accounts' Interest Rates Dip Below 1% |
| Bad news for savers: The national average rate on checking, savings and other deposit accounts has dipped below the 1% mark for the first time in at least 10 years--and doesn't appear headed higher anytime soon, according to an analysis by Market Rates Insight. |
| View Source | August 24, 2010 | Provides Information |
| Fed loses bid to review bailout disclosure ruling |
| The Federal Reserve will have to appeal to the Supreme Court if it wants to avoid having to disclose details of its emergency lending programs to banks bailed out with taxpayer money during the financial crisis. |
| View Source | August 23, 2010 | Provides Information |
| FTSE dips as banks, miners retreat on economy gloom |
| Britain's top share index fell by midday on Friday as persistent doubts about the durability of economic recovery weighed on banks and miners. |
| View Source | August 20, 2010 | Provides Information |
| Japan stimulus plan to focus on green tech: report |
| Japan is planning subsidies to boost corporate investment in factories making environment-friendly products, in a fresh economic stimulus package expected next month, a report said Friday. |
| View Source | August 20, 2010 | Provides Information |
| 30-year bonds fall 1 point as sell-off deepens |
| The U.S. 30-year Treasury bond shed a point in price in early afternoon trading Tuesday, as profit-taking on recent gains pushed the market deeper into negative territory. |
| View Source | August 17, 2010 | Provides Information |
| Deutsche Bank Got At Least 2 Bids For BHF-Sources |
| Deutsche Bank AG has received at least two non-binding offers for German subsidiary BHF-Bank AG, several people close to the matter said Tuesday. |
| View Source | August 17, 2010 | Provides Information |
| Japan to mull new stimulus as yen threatens recovery |
| Japan's government will consider further stimulus steps, potentially making it the first developed country to turn to additional fiscal spending since the global crisis, as a strengthening yen threatens its faltering recovery. |
| View Source | August 17, 2010 | Provides Information |
| Watchdog panel cites global impact of US bailout |
| The $700 billion U.S. bailout program launched in response to the global economic meltdown had a far greater impact overseas than other countries' financial rescue plans did on the U.S., according to a new report from a congressional watchdog. |
| View Source | August 12, 2010 | Provides Information |
| Bank Of England Lowers U.K. Growth Expectations |
| The Bank of England on Wednesday said Britain's economic recovery is likely to continue, but at a slower pace than the central bank had projected in May. |
| View Source | August 11, 2010 | Provides Information |
| Fed to buy $18 billion in government debt |
| The Federal Reserve announced Wednesday that it will buy $18 billion worth of government debt in a bid to jumpstart the economic recovery. |
| View Source | August 11, 2010 | Provides Information |
| FDIC Reorganizes To Accommodate Dodd-Frank Law |
| The Federal Deposit Insurance Corp. said Tuesday its board approved the creation of two entities to carry out the recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act. The FDIC will create the Office of Complex Financial Institutions to review bank holding companies with more than $100 billion in assets and the Division of Depositor and Consumer Protection to ensure banks comply with fair lending statutes and regulations. |
| View Source | August 10, 2010 | Provides Information |
| Obama Signs $26 Billion Bailout for Cash-Strapped States |
| President Obama signed a bill that he says will save hundreds of thousands of teacher and other public workers from unemployment. |
| View Source | August 10, 2010 | Provides Information |
| Mexican Banking Sector 1st Half Profits Rise 15% To MXN37.38 Billion |
| Mexico's banking industry reported net profit in the first half of the year that was 15% higher compared to the same period in 2009, according to banking and securities commission CNBV. |
| View Source | August 10, 2010 | Provides Information |
| Swiss Government Confident Of Evaluating UBS Data By Aug 26 |
| Switzerland's tax office is confident it can evaluate nearly all 4,450 sets of confidential UBS AG client data before the Aug. 26 hand over deadline to U.S. officials, a Swiss government spokeswoman said Tuesday. |
| View Source | August 10, 2010 | Provides Information |
| Wells Fargo Puts Cost Of New Financial Rules At $530 Million |
| Wells Fargo & Co. said new financial regulations will cost about $530 million this year in lost revenue. |
| View Source | August 9, 2010 | Provides Information |
| Bailed Out Firms Spend Millions on Political Causes, Federal Lobbying |
| Several companies that escaped financial failure two years ago through massive taxpayer-funded bailouts are spending millions of dollars to make donations to political causes and even some candidates' campaigns. |
| View Source | August 6, 2010 | Provides Information |
| US Bank Business Loans Up $9.4 Billion In Latest Week |
| U.S. banks' commercial and industrial loans increased $9.4 billion to about $1.241 trillion in the week ended July 28, the latest week for which data are available, the Federal Reserve said Friday. |
| View Source | August 6, 2010 | Provides Information |
| Senate Passes Hurdle to $26 Billion Teacher Pay Bill |
| President Barack Obama and his allies in the Senate have won a key vote to advance a bill to help states and local school boards with their severe budget problems. |
| View Source | August 4, 2010 | Provides Information |
| Bonds and Treasury Notes |
| Moody's Bonds Price At Treasurys +300 BPs; Yield 5.582% |
| Moody's Corp. joined the long line of issuers to tap the U.S. corporate bond market on Monday, taking advantage of historically low yields in what was the ratings agency's initial public debt offering. |
| View Source | August 16, 2010 | Provides Information |
| Moody's Corp. To Issue $400 Million In 10-Year Bonds |
| Moody's Corp. is set to issue $400 million in registered 10-year senior unsecured bonds that are expected to price late Monday. |
| View Source | August 16, 2010 | Provides Information |
| Buyouts - Take Overs - Mergers - Sales |
| Kenexa Buying Salary.com For $80 Million |
| Kenexa Corp. said Wednesday it's agreed to buy Salary.com Inc. for $4.07 a share in cash, or around $80 million in total. Kenexa, a human resources technology company, said it expects to complete the deal in the fourth quarter of 2010. The deal is at a 42% premium to Tuesday's closing price of $2.86 a share. |
| View Source | September 1, 2010 | Provides Information |
| 3M To Acquire Remote Tracking Co Attenti Holdings For $230 Million |
| 3M Co. has agreed to acquire Attenti Holdings SA from an investor group led by private-equity firm Francisco Partners for $230 million, its second high-tech security play this week. |
| View Source | August 31, 2010 | Provides Information |
| Exelon to buy Deere's wind power unit for $860 mln |
| Electric utility Exelon Corp said it will buy Deere & Co's wind power business for about $860 million, expanding its portfolio of carbon-free electricity generation. |
| View Source | August 31, 2010 | Provides Information |
| Saks Shares Sharply Higher on Potential $1.7B Buyout |
| Saks shares surged more than 28% Tuesday on news that the luxury retailer may soon receive a $1.7 billion cash bid from a group of US and United Kingdom private-equity firms, according to a report. |
| View Source | August 31, 2010 | Provides Information |
| 3M Agrees To Acquire Cogent For About $943 Million |
| 3M Co. agreed to acquire Cogent Inc. in a deal valued at $943 million, though it will only pay $430 million thanks to the big cash pile the maker of fingerprint-identification systems has. |
| View Source | August 30, 2010 | Provides Information |
| CA Inc To Buy Fraud-Prevention Specialist Arcot For $200 Million |
| Business-software company CA Inc. said it has agreed to buy privately held Arcot Systems Inc. for $200 million, a deal which would add fraud-prevention and authentication software to CA's portfolio. |
| View Source | August 30, 2010 | Provides Information |
| E.ON Agrees To Sell 40% Stake In Municipal Utility HSE |
| German utility E.ON AG said Monday it has agreed to sell its 40% stake in HEAG Suedhessische Energie AG, or HSE, to the majority holder of the Darmstadt-based municipal utility. |
| View Source | August 30, 2010 | Provides Information |
| Genzyme Rejects Sanofi-Aventis $18.5 Billion Offer As 'Unrealistic' |
| Genzyme Corp.'s board has again unanimously rejected an $18.5 billion takeover proposal from Sanofi-Aventis SA that became public Sunday, although Genzyme seemed to leave the door open for future talks with a higher starting price. |
| View Source | August 30, 2010 | Provides Information |
| Intel to Buy Infineon's Mobile Unit for $1.4 Billion |
| In an effort to boost its smartphone exposure, chip giant Intel inked a $1.4 billion deal on Monday to acquire Infineon’s wireless unit. |
| View Source | August 30, 2010 | Provides Information |
| Dell raises bid for 3PAR, trumping HP |
| Dell Inc raised its bid for data storage company 3PAR Inc to $1.6 billion, a slightly higher offer than bigger rival Hewlett-Packard Co , which is expected to respond with an even stronger bid. |
| View Source | August 26, 2010 | Provides Information |
| China's Tencent buys Google-backed social networking firm |
| Mainland Internet company Tencent Holdings has bought Google-backed Chinese social networking firm Comsenz for more than 60 million dollars, the companies and a media report said. |
| View Source | August 24, 2010 | Provides Information |
| HP Launches $1.6 Billion Bid for 3PAR |
| Hewlett-Packard Co offered $1.6 billion for 3PAR Inc on Monday, topping technology rival Dell Inc's deal to buy the data storage company and potentially sparking a bidding war. |
| View Source | August 23, 2010 | Provides Information |
| KNOC Launches $2.9 Bilion Hostile Bid for Dana Petrlm |
| State-run Korea National Oil Corp made a hostile cash bid worth $2.9 billion for Britain's Dana Petroleum Plc on Friday, highlighting a strengthening in South Korea's resolve to secure energy assets overseas. |
| View Source | August 20, 2010 | Provides Information |
| Intel Secures $7.68 Deal to Take Over McAfee |
| intel snatched up McAfee for $7.68 billion in cash on Thursday in a surprise deal that placed a 60% premium on the world’s largest security technology company. |
| View Source | August 19, 2010 | Provides Information |
| MasterCard to buy DataCash for $520 mln |
| MasterCard Inc said it would buy British payment services provider DataCash Group Plc for 333 million pounds ($520 million) in cash to expand its e-commerce business. |
| View Source | August 19, 2010 | Provides Information |
| BHP Goes Hostile With $38.6B Potash Corp Bid |
| A day after being publicly rebuffed, mining titan BHP Billiton said Wednesday it will go hostile with an all-cash $38.6 billion bid to take over fertilizer maker Potash. |
| View Source | August 18, 2010 | Provides Information |
| Canon: To Liquidate SED Flat Panel Unit In Japan |
| Canon Inc. said Wednesday it will liquidate by the end of September a subsidiary responsible for developing a new type of television display panel. |
| View Source | August 18, 2010 | Provides Information |
| Phoenix Tech Shares Climb 25% On Buyout Agreement |
| Phoenix Technologies Ltd. shares on Wednesday climbed 75 cents, or 25%, to $3.77. The company said it agreed to be acquired by private equity firm Marlin Equity Partners for $139 million, or $3.85 a share. The acquisition price represents a 27% premium over Phoenix's Tuesday closing price of $3.02 a share. |
| View Source | August 18, 2010 | Provides Information |
| BHP Billiton bids $39 bln for Potash Corp |
| BHP Billiton launched an unsolicited $38.6 billion takeover bid for Potash Corp, an offer that the world's largest fertilizer maker promptly rejected Tuesday as "grossly inadequate." |
| View Source | August 17, 2010 | Provides Information |
| Novartis Advances On Alcon Buy Amid Continued Resistance |
| Novartis AG has come one step closer in its attempt to win control of eye care company Alcon Inc after the Swiss drug giant was able to place five new members on the board of the Switzerland-based firm and won conditional backing from U.S. regulators to proceed with the takeover deal. |
| View Source | August 17, 2010 | Provides Information |
| Reynolds Group puts up $4.4B for Hefty bag maker |
| Reynolds Group, part of the global packaging business owned by New Zealand's richest man, said Tuesday it will pay about $4.4 billion for Hefty bag maker Pactiv. |
| View Source | August 17, 2010 | Provides Information |
| Advent Reportedly Mulls Sale Or Float Of Takko |
| Buyout firm Advent International is planning to sell or float German discount retailer Takko Fashion and could launch the formal process as early as next month, Dow Jones Newswires reported on Monday, citing a person familiar with the situation. Eight banks are currently vying for the mandate to advise Advent on selling or floating the retailer, the report said. Advent purchased Takko from private-equity firm Permira for 770 million euros ($987 million) three years ago. The company is currently valued at around 900 million euros. |
| View Source | August 16, 2010 | Provides Information |
| Air Products Gets FTC Pact, Extends Airgas Offer |
| Air Products & Chemicals Inc. said it reached an accord with the Federal Trade Commission on terms related to its $5.31 billion hostile takeover bid for Airgas Inc., and extended the offer's deadline. |
| View Source | August 16, 2010 | Provides Information |
| Canada's Glentel To Buy Majority Stake In US Wireless Chain |
| Canadian telecommunications company Glentel Inc. has agreed to pay $50.5 million for an 82% stake in a western U.S. chain of wireless stores affiliated with Verizon Wireless. |
| View Source | August 16, 2010 | Provides Information |
| China Attaches Conditions To Novartis' Acquisition Of Alcon |
| China's Ministry of Commerce approved Novartis AG's acquisition of Alcon Inc., but attached conditions to the deal in the China market, it said in a statement dated Friday, the sixth deal involving foreign companies to be the subject of conditions in the two years since China adopted its antimonopoly law. |
| View Source | August 16, 2010 | Provides Information |
| Medco To Buy Closely Held United Drug Researcher For $730 Million |
| Pharmacy company Medco Health Solutions Inc. said it will buy closely held drug and device researcher United BioSource Corp. for about $730 million. |
| View Source | August 16, 2010 | Provides Information |
| Blackstone To Pay $542 Million For Dynegy; Sell Part To NRG |
| Private-equity giant Blackstone Group LP agreed to buy Dynegy Inc. for about $542 million and billions in assumed debt as the power generator faced a prolonged slump in electricity prices. |
| View Source | August 13, 2010 | Provides Information |
| Vedanta Resources May Acquire 51% Stake In Cairn India - Report |
| London-listed miner Vedanta Resources PLC may acquire 51% stake in Cairn India Ltd. for $8 billion to $8.5 billion, the Press Trust of India reported Friday. |
| View Source | August 13, 2010 | Provides Information |
| Butterfield Fulcrum CEO: Ready To Grow By Acquiring Peers |
| Fund administrator Butterfield Fulcrum Group, backed by private equity firms 3i Group PLC and Carlyle Group L.P., among others, is ready to grow by acquiring peers and there is no lack of targets, its chief executive told Dow Jones Newswires. |
| View Source | August 11, 2010 | Provides Information |
| Fortress To Buy 80% Stake In AIG Consumer-Credit Business |
| Bailed-out insurer American International Group Inc. agreed to sell 80% of its subprime-lending arm to Fortress Investment Group LLC, the latest in a string of asset sales as AIG works to repay its government rescue. |
| View Source | August 11, 2010 | Provides Information |
| Lavazza Buys $250 Million Stake In Green Mountain |
| Green Mountain Coffee Roasters Inc. said late Tuesday that Luigi Lavazza S.p.A agreed to purchase $250 million, or 7%, of its common stock. Lavazza, the Turin, Italy-based maker of coffee machines, will retain an option to buy up to 15% of Green Mountain Coffee stock as the two companies work toward a development, marketing and distribution agreement. Green Mountain Coffee and Lavazza will cooperate on new single-serve espresso machines and single-serve espresso capsules. Lavazza will pay a price per share equal to the 60-day volume weighted average price at closing minus 7.5%. |
| View Source | August 11, 2010 | Provides Information |
| ArcelorMittal South Africa To Sell 26% Stake For ZAR9 Billion |
| ArcelorMittal South Africa Ltd Tuesday said it has entered into an agreement to sell a 26% stake in its operations valued at ZAR9 billion to a consortium and employees in order to fulfill its black economic empowerment obligations. |
| View Source | August 10, 2010 | Provides Information |
| AXA Private Equity Takes Majority Stake In Rollon Group |
| The AXA Private Equity investment management unit of French insurer AXA SA (CS.FR) said Monday it has taken a 51.8% stake in Rollon group, of Italy. |
| View Source | August 9, 2010 | Provides Information |
| ITT Agrees To Sell Engineering And Tech Unit For $235 Million |
| ITT Corp. agreed to sell its systems-engineering and technical-assistance unit to privately held Wyle Inc. for $235 million as the defense and industrial conglomerate continues to realign its business. |
| View Source | August 9, 2010 | Provides Information |
| ACS To Sell Port Unit To Investor Group For EUR720 Million |
| Spanish construction giant Actividades de Construccion y Servicios SA (ACS.MC) said Friday it has agreed to sell its port services unit, Dragados Servicios Portuarios y Logisticos, to a group of undisclosed institutional investors for more than EUR720 million. |
| View Source | August 6, 2010 | Provides Information |
| SkyWest To Buy ExpressJet For $133 Million |
| SkyWest Inc. said Wednesday it agreed to purchase ExpressJet Holdings for about $133 million in cash. The deal values ExpressJet at about $6.75 a share, more than double its closing price on Tuesday. Subject to regulatory approval, the agreement is expected to close in the fourth quarter. |
| View Source | August 4, 2010 | Provides Information |
| Citigroup |
| Citigroup Names Head of New Global Family Office Group |
| Citigroup Inc. has promoted Catherine Weir to head its new global family office group, rededicating itself to a business that was once part of its former Smith Barney brokerage. |
| View Source | September 1, 2010 | Provides Information |
| Credit Cards |
| Caixa to enter Bradesco-BB credit card venture |
| Caixa Economica Federal, Brazil's largest mortgage lender, will merge its credit and debit card business into a single brand with rivals Banco do Brasil and Banco Bradesco. |
| View Source | August 9, 2010 | Provides Information |
| Credit Rating |
| Moody's reports negative outlook for not-for-profit hospitals |
| News outlets report on hospital issues, including a Moody's report suggesting a negative outlook for not-for-profit hospitals. |
| View Source | August 27, 2010 | Provides Information |
| Canada finmin defends Irish policy after downgrade |
| Canadian Finance Minister Jim Flaherty said Ireland had a solid bank plan and was Europe's leader in fiscal reform, warning not to take rating agency views such as S&P's downgrade of Ireland this week too seriously. |
| View Source | August 26, 2010 | Provides Information |
| S&P Raises UPS Ratings Outlook |
| Standard & Poor's said Thursday it raised the ratings outlook of United Parcel Service Inc. to stable from negative. S&P has a AA- corporate credit rating on UPS. |
| View Source | August 26, 2010 | Provides Information |
| Ireland stung by S&P cut, pressure grows over banks |
| Ireland's government faced mounting pressure on Wednesday to draw a line under its banking crisis after a credit rating cut from Standard & Poor's pushed its borrowing costs higher. |
| View Source | August 25, 2010 | Provides Information |
| Barry Callebaut Raised To Buy From Neutral At UBS |
| Barry Callebaut AG , a Swiss producer of cocoa and chocolate, was upgraded Monday to buy from neutral at UBS, which said the firm is its preferred Swiss mid-cap chocolate producer. "We prefer it to Lindt on valuation grounds and less sensitivity" to raw material prices, UBS said. Shares of Barry Callebaut rose 0.9% in Swiss trading. |
| View Source | August 23, 2010 | Provides Information |
| S&P Raises HSBC Group's Outlook To Stable |
| Standard & Poor's Ratings Services on Friday raised its outlook on U.K.-incorporated HSBC Holdings PLC to stable from negative and affirmed its AA-/A-1+ ratings. "The outlook revision reflects our view that credit losses for HSBC likely peaked in 2009 and that the group will likely continue strong internal capital generation in the coming years. |
| View Source | August 20, 2010 | Provides Information |
| S&P Upgrades Whole Foods To 'BB' As Sales Recover |
| Standard & Poor's Ratings Services on Friday raised Whole Foods Markets Inc.'s corporate credit rating to BB from BB-. "Whole Foods' recent rebound in operating performance during 2010 marked by high-single-digit increases in identical-store sales and roughly 20% higher EBITDA has exceeded our expectations," said S&P credit analyst Charles Pinson-Rose. Whole Foods' rating reflects the company's aggressive financial risk profile and the increasingly competitive nature of the food retail industry, according to the ratings agency. The outlook is stable. |
| View Source | August 20, 2010 | Provides Information |
| Fitch Upgrades McKesson To 'A-' |
| Fitch Ratings on Thursday raised McKesson Corp.'s issuer default rating to A- from BBB+. "The company's performance was driven by relatively reliable demand growth, an ongoing focus on cost control, appropriately low but stable margins, solid working capital management and resulting strong operational cash flow," said Fitch in a statement. The rating outlook is stable. The upgrade will affect about $2.28 billion of debt. |
| View Source | August 19, 2010 | Provides Information |
| Moody's Upgrades EBay's Issuer Rating To 'A2' |
| Moody's Investors Service on Thursday raised eBay Inc.'s issuer rating to A2 from A3 due to the company's strong credit metrics and performance through the economic downturn as well as its solid liquidity profile. |
| View Source | August 19, 2010 | Provides Information |
| Moody's Cuts Transocean To 'Baa3' |
| Moody's Investors Service on Wednesday cut Transocean Inc.'s senior unsecured rating to Baa3 from Baa2. "The downgrade to Baa3 reflects Moody's view that Transocean potentially faces significant liability exposure due to its involvement in the blowout and subsequent oil spill from the Macondo well and a concern as to whether it will be fully protected under its indemnification from BP," said Ken Austin, a Moody's vice president, in a statement. |
| View Source | August 18, 2010 | Provides Information |
| S&P Cuts Washington Post's Outlook To Negative |
| Standard & Poor's Ratings Services on Wednesday lowered its rating outlook on Washington Post Co. to negative from stable and affirmed its A long-term corporate credit rating. The downgrade is in response to a move by the Department of Education to tighten certain regulations on federal student loans. |
| View Source | August 18, 2010 | Provides Information |
| U.S., UK Rating Face Greater Downgrade Risk: Moody's |
| Moody's Investors Service said on Tuesday the top AAA ratings of the United States, Great Britain, France and Germany are well positioned but face new challenges that increase the possibility of a downgrade. |
| View Source | August 17, 2010 | Provides Information |
| Capital One: US Delinquencies, Charge-Offs Down In July |
| Capital One Financial Corp. reported U.S. credit-card delinquencies fell again during July while domestic net charge-offs declined for a fourth-straight month as the sector continues to recover from losses on souring loans and late payments from borrowers. |
| View Source | August 16, 2010 | Provides Information |
| Xilinx Downgraded To Underperform By BMO Capital |
| Shares of Xilinx Inc. skidded on Thursday after analysts at BMO Capital Markets cut the company to underperform as part of their downgrade of the semiconductor sector. "We believe semis are in for two to three quarters of relative underperformance as estimates get cut over the next couple of quarters," said the analyts in their report. |
| View Source | August 12, 2010 | Provides Information |
| Best Buy Cut To Neutral From Buy By Goldman Sachs |
| No. 1 U.S. electronics retailer Best Buy Co. was cut to neutral from buy by Goldman Sachs on Tuesday. Analyst Matthew Fassler cut his 2010 profit estimate on Best Buy by 10 cents a share to $3.30, below the company's forecast range of $3.45 to $3.60 and consensus of $3.44. He also lowered his estimates for both 2011 and 2012. |
| View Source | August 10, 2010 | Provides Information |
| S&P Upgrades Starbucks' Rating To 'BBB+' |
| Standard & Poor's Ratings Services on Tuesday upgraded Starbucks Corp.'s rating to BBB+ from BBB due to the company's continued strong performance as well as expectation for sustained strength through year-end. "Our ratings are based on Starbucks Corp.'s leading market position and excellent brand recognition in the specialty coffee market, as well as the company's history of strong cash flow generation," said S&P credit analyst Jackie Oberoi. These strengths, however, are tempered by weak top-line growth on the back of the still-sluggish U.S. economy. The outlook is stable. |
| View Source | August 10, 2010 | Provides Information |
| Moody's lifts Kuwait's outlook to stable |
| Rating agency Moody's on Thursday raised its outlook on Kuwait's sovereign ratings to stable from negative saying new legislation will help boost the country's economy and help attract foreign investments. |
| View Source | August 5, 2010 | Provides Information |
| S&P assigns BBB-plus rating to rival Moody's |
| Standard & Poor's assigned a BBB-plus rating to rival Moody's Investors Service Tuesday, citing a potential increase in business risk following new U.S. financial reform. |
| View Source | August 3, 2010 | Provides Information |
| Dividends |
| Weyerhaeuser To Pay $5.6 Bln In Special Dividend |
| Weyerhaeuser Co. said Wednesday it will pay a $5.6 billion special dividend of $560 million in cash and about 324 million of common shares. Shareholders who choose cash will receive $4.03 a share along with 1.44 shares in stock while those opting for stock will receive 1.70 shares. |
| View Source | September 1, 2010 | Provides Information |
| Aegis Upgrades Dividend; Seeks More Acquisitions |
| U.K.-based advertising and marketing firm Aegis Group PLC Friday became the latest advertising agency to post higher revenue and earnings as advertising markets recover more quickly than expected. |
| View Source | August 27, 2010 | Provides Information |
| Altria raises dividend for second time this year |
| Cigarette maker Altria Group Inc increased its quarterly payout to shareholders for the second time this year, the company said Friday. |
| View Source | August 27, 2010 | Provides Information |
| Cincinnati Financial Raises Dividend |
| Cincinnati Financial Corp. said Monday that it will be raising its quarterly cash dividend to 40 cents a share from 39.5 cents a share, payable Oct. 15. The new dividend amount will be paid to shareholders of record as of Sept. 22. Shares of Cincinnati Financial were up a fraction Friday and unchanged premarket Monday. |
| View Source | August 16, 2010 | Provides Information |
| Aflac Raises Quarterly Dividend, Resumes Buybacks |
| Aflac Inc. said late Tuesday its board raised the quarterly dividend 7.1% to 30 cents a share and resumed a suspended share buyback program. The dividend is payable on Dec. 1 to shareholders of record as of Nov. 17. Aflac said it will resume share buybacks in a program that had 32.4 million shares eligible for repurchase when it was suspended in the fourth quarter of 2008. |
| View Source | August 10, 2010 | Provides Information |
| Brammer Upgrades Dividend, Sees Fiscal Year Profit At 2008 Level |
|
| View Source | August 6, 2010 | Provides Information |
| Brazil's Eletropaulo To Pay $356 Million In Dividends |
| Brazil's electrical-energy distributor, Eletropaulo Metropolitana Eletricidade de Sao Paulo SA, will pay 625.5 million Brazilian reals ($356 million) in dividends, it said late Thursday in a statement. |
| View Source | August 6, 2010 | Provides Information |
| CMS Cuts Long-Term Spending Plan By $1 Billion, Lifts Dividend 40% |
| CMS Energy Corp. boosted its quarterly dividend by 40% while announcing plans to cut $1 billion from planned capital spending the next five years, a move than will lower future earnings. |
| View Source | August 6, 2010 | Provides Information |
| Aviva CEO: Cash Generation Allows Further Rise In Dividends |
| U.K. insurer Aviva PLC would be able to continue raising dividends as it raises more cash from its business, Chief Executive Officer Andrew Moss said Thursday. |
| View Source | August 5, 2010 | Provides Information |
| Biovail declares quarterly dividend of US$0.095 |
| Biovail Corporation today announced that the Company's Board of Directors has declared a quarterly cash dividend of US$0.095 per share payable on October 4, 2010 to shareholders of record at the close of business September 1, 2010. The ex-dividend date is August 30, 2010. |
| View Source | August 5, 2010 | Provides Information |
| Axa, Munich Re beat consensus as L&G hikes dividend |
| Major European insurance groups AXA and Munich Re posted stronger-than-expected earnings, despite a slew of damage claims for storms and the collapse of the Deepwater Horizon oil rig. |
| View Source | August 4, 2010 | Provides Information |
| Swisscom Confident Of Dividend But Misses Targets |
| Swisscom AG (SCMN.VX) Wednesday kept investor hopes for a hefty dividend alive as it posted strong cash flow despite missing second-quarter sales and net profit expectations. |
| View Source | August 4, 2010 | Provides Information |
| Dollar (The) and Foreign Currencies |
| BOJ eases policy to fight yen rise, impact seen slim |
| The Bank of Japan expanded its cheap loan scheme on Monday, heeding government calls for action to curb a rise in the yen that threatens a fragile economic recovery and leaving the door open to more policy easing. |
| View Source | August 30, 2010 | Provides Information |
| Dow Jones |
| Wall Street Brushes Jobs Report Aside |
| At the 4 p.m. close in New York, the Dow Jones Industrial Average climbed 254.98 points, or 2.55%, to 10269.70, the Standard & Poor's 500 index rose 30.94 points, or 2.95%, to 1080.28 and the Nasdaq Composite added 62.81 points, or 2.97%, to 2176.84. The consumer-friendly FOX 50 index gained 20.23 points, or 2.66%, to 782.06. |
| View Source | September 1, 2010 | Provides Information |
| Fannie Mae and Freddie Mac |
| Dem. Frank says abolish Freddie and Fannie |
| 'They only question is what do you put in their place,' congressman says |
| View Source | August 18, 2010 | Provides Information |
| Freddie Mac Ramps Up Pressure On Banks Over Defective Loans |
| Mortgage finance giant Freddie Mac is getting more aggressive toward banks that it says sold it crummy mortgages. |
| View Source | August 16, 2010 | Provides Information |
| Freddie Mac requests $1.8 billion more in aid |
| Government-controlled mortgage buyer posts big second-quarter loss |
| View Source | August 9, 2010 | Provides Information |
| Freddie Mac Swings To 2Q Loss On Derivaties Impacts |
| Freddie Mac posted a second-quarter loss as prior-year derivative gains were losses in the latest period for the mortgage financier, which said it would request another $1.8 billion in government aid. |
| View Source | August 9, 2010 | Provides Information |
| Many ways to replace Fannie and Freddie: Bernanke |
| It should be possible to create a U.S. housing finance system without the need for potentially risky entities like government-sponsored mortgage finance agencies Fannie Mae and Freddie Mac, Federal Reserve Chairman Ben Bernanke said. |
| View Source | August 6, 2010 | Provides Information |
| Fannie Mae asks for $1.5B in aid after 2Q loss |
| Fannie Mae is asking for less money from the government, a sign that the cost to taxpayers for bailing out the mortgage giant could be billions lower than once thought. |
| View Source | August 5, 2010 | Provides Information |
| Gold Prices |
| Gold Futures End Up On Bargain Buys, Econ Outlook |
| Gold futures ended with mild gains Monday, as investors bought up bullion on the dips and looked ahead to economic data that's likely to spell a sluggish recovery for the economy -- a scenario that could make a safe-haven asset like gold more valuable. |
| View Source | August 30, 2010 | Provides Information |
| Goldman Sachs |
| Goldman Names Esposito Invest Bankk COO; Schiller Retires |
| Goldman Sachs Group Inc. has named Jim Esposito chief operating officer of global investment banking, effective immediately. He was previously global head of the firm's investment-grade and public sectorfinancingand infrastructure financing businesses. |
| View Source | August 12, 2010 | Provides Information |
| Goldman Sachs Sees Gold At $1,300 In Six Months |
| "Significantly" lower U.S. interest rates point to higher gold prices, Goldman Sachs said in a note to clients made public late Wednesday. Goldman Sachs forecast gold futures at $1,300 an ounce in the next six months. |
| View Source | August 12, 2010 | Provides Information |
| Goldman Had 10 Days of Trading Losses in 2Q |
| Sluggish markets and the May 6 "flash crash" pinched even highflier Goldman Sachs Group Inc. in the second quarter, according to the company's quarterly report filed Monday. |
| View Source | August 9, 2010 | Provides Information |
| Goldman Mulling Spin-Off Of Private Equity Business: Sources |
| One of the first casualties of financial reform and its restrictions on banks’ ownership of private equity and hedge funds may soon take place at Goldman Sachs as senior executives there begin serious discussions about spinning off at least a piece of the firm’s massive private equity arm, FOX Business has learned. |
| View Source | August 3, 2010 | Provides Information |
| Inflation |
| Wholesale level inflation falls for third month |
| Another decline in Producer Price Index raising fears about deflation |
| View Source | July 15, 2010 | Provides Information |
| Interest Rates |
| Mexico Holds Rate At 4.5%; Economy Expands 7.6% |
| Mexico's central bank on Friday decided to hold the benchmark interest rate steady at 4.5%, according to a statement on the bank's Web site. The decision was in line with widely held expectations, and the rate has been at that level since July 2009. The central bank in a statement noted that economic activity in the U.S., its largest trading partner, is slowing. Separately, |
| View Source | August 20, 2010 | Provides Information |
| Misc. Dated Material |
| Akzo Nobel Named Key Paint Supplier To Wal-Mart US |
| Akzo Nobel said Wednesday that Wal-Mart Stores Inc., the world's No. 1 retailer, named the Amsterdam coatings giant the primary paint supplier for the more than 3,500 U.S. stores. Terms weren't disclosed. Akzo said the deal would boost its Glidden paints brand. |
| View Source | September 1, 2010 | Provides Information |
| GSI Commerce to Continue Providing Marketing, E-Commerce for Sports Authority |
| GSI Commerce said Monday that it has signed a long-term agreement with Sports Authority to continue providing the retailer with e-commerce and interactive marketing. |
| View Source | August 30, 2010 | Provides Information |
| Mayo Says Citi Can't Be Trusted |
| Securities analyst Mike Mayo ramped up his increasingly bitter battle with the management of Citigroup Monday morning issuing a note stating that the big bank can't be trusted to provide investors with accurate disclosure about its financial condition or future plans to make money, and that the firm is setting the stage for future problems similar to those that nearly caused the bank to fail two years ago, prompting a massive government bailout. |
| View Source | August 30, 2010 | Provides Information |
| Brazil's Vale To Reduce Iron Ore Price By 10% -Report |
| Brazilian mining company Vale SA plans to reduce its iron ore price by about 10% due to a recent reduction of prices in China, the Friday edition of local newspaper O Estado de S. Paulo reported. |
| View Source | August 27, 2010 | Provides Information |
| Alcoa's $750 Million Debt-Buyback Effort Won't Reach Maximum Amount |
| Alcoa Inc. detailed final results for the second part of its effort to repurchase up to $750 million in notes maturing the next three years as part of a debt-refinancing effort. |
| View Source | August 24, 2010 | Provides Information |
| AstraZeneca Buys Back 244,751 Shares At 3270P |
| AstraZeneca PLC said Tuesday it has purchased for cancellation 244,751 of its ordinary shares at a price of 3270 pence per share. |
| View Source | August 24, 2010 | Provides Information |
| Boehner: Geithner And Summers Should Go |
| President Barack Obama should call for the resignation of both Treasury Secretary Timothy Geithner and Larry Summers, the head of the White House's national economic team, House Minority Leader John Boehner said Tuesday. "President Obama should ask for - and accept - the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers," Boehner (R., Ohio) said in an economic address to the City Club of Cleveland. |
| View Source | August 24, 2010 | Provides Information |
| Great Atlantic & Pacific Tea To Close 25 Stores |
| Great Atlantic & Pacific Tea Co. said Friday it will close 25 stores in five states as part of a turnaround strategy. The company currently operates 429 stores in eight states including the A&P, Pathmark, and Super Fresh brands. Great Atlantic & Pacific expects the closures to be complete in the third quarter. |
| View Source | August 13, 2010 | Provides Information |
| DirecTV To Allow Google To Sell TV Ads On Its Networks |
| Google Inc. and DirecTV Inc. on Wednesday announced an advertising partnership in which Google will be able to sell ads on some cable networks carried on DirecTV. |
| View Source | August 11, 2010 | Provides Information |
| Before Fed Meeting, Traders See No Hike Until May |
| Interest-rate futures on Tuesday show no chance that the Federal Reserve will increase its target policy rate before May 2011, before the Federal Open Market Committee ends its policy meeting. Fed fund futures maturing in May are the next to indicate rates may rise from the central bank's current target rate range of zero to 0.25%. |
| View Source | August 10, 2010 | Provides Information |
| Nasdaq Short Interest Declines 1.1% In Late July |
| Short interest in Nasdaq-listed stocks slid 1.1% in the second half of July, according to the latest figures for the exchange's semimonthly statistic. |
| View Source | August 10, 2010 | Provides Information |
| Hong Kong Drug Maker MiLOC Group To Join AIM August 24 |
| The company didn't say how much it expects to raise in its admission. |
| View Source | August 9, 2010 | Provides Information |
| HSBC Names Naina Lal Kidwai To Board Of Directors |
| The Hongkong and Shanghai Banking Corp. Ltd. has nominated India Country Head Naina Lal Kidwai as a director on its board, the lender said in a statement Monday. |
| View Source | August 9, 2010 | Provides Information |
| CBS, Comcast Sign 10-Year Retransmission Agreement |
| Cable television provider Comcast Corp. signed a 10-year agreement that provides for CBS Corp.'s stations to have retransmission consent, a deal that provides Comcast with expanded on-demand access. |
| View Source | August 2, 2010 | Provides Information |
| Morgan Stanley Offers Brokers Extra 20% Bonus To Join--Sources |
| Morgan Stanley Smith Barney is offering financial advisers at competitors an extra incentive to join the firm before the end of the third quarter, according to people familiar with the situation. |
| View Source | August 2, 2010 | Provides Information |
| Global steelmakers paint gloomy picture |
| Steelmakers painted a gloomy picture of the short-term prospects for the industry on Tuesday as global prices have fallen and industrial demand is not recovering from the recession as quickly as expected. |
| View Source | July 27, 2010 | Provides Information |
| Euro-zone PMI Posts Unexpected Rise In July |
| A measure of private-sector activity across the 16-nation euro zone showed an unexpected rise in July. The Markit euro-zone composite purchasing managers index rose to 56.7, its highest level in three months, from a reading of 56.0 in June. Economists had forecast a fall to 55.2. |
| View Source | July 22, 2010 | Provides Information |
| Misc. |
| AMM Online |
| The international news service of American Metal Market, the daily newspaper of the metals and recycling industries. |
| View Source | | Provides Information |
| Asian Business Watch |
| Asian business and financial news, special reports and economic trends. |
| View Source | | Provides Information |
| Bank of Montreal Economics on Canada, United States and International Economies |
| Current economic data, research and analysis from the Economics department at the Bank of Montreal. |
| View Source | | Provides Information |
| Briefing.com |
| Provides stock market news and commentary, quotes and charts, portfolio tracking, sector ratings and an economic calendar. |
| View Source | | Provides Information |
| Business 2.0 |
| A business portal with links to other magazines and sites covering the old and the new economy. |
| View Source | | Provides Information |
| Business Cycle Indicators |
| News, data and analysis of consumer confidence index and other business cycle indicators from The Conference Board, a leading non-profit business research organization. |
| View Source | | Provides Information |
| Business In Depth |
| Using links to newspapers, magazines and internet resources you can read business news from around the world. |
| View Source | | Provides Information |
| Business Wire |
| Includes press releases, IPOs, company profiles, trade show announcements and links to related sites. |
| View Source | | Provides Information |
| Campaign for America's Future |
| News, analysis and resources from website for progressives that focuses on issues of social justice like wages, Social Security and trade. |
| View Source | | Provides Information |
| CBS MarketWatch |
| Offers business and financial news, market commentary, U.S. and international quotes, charts, headlines, mutual fund info, portfolio tracking, an IPO report and a chat room. |
| View Source | | Provides Information |
| Chicago Business |
| unprecedented coverage of metro Chicago's business community. |
| View Source | | Provides Information |
| CNNfn |
| The financial news site presents feature articles, headlines, world market updates, stock quotes, an industry watch and a Quicken.com investment center. |
| View Source | | Provides Information |
| Corporate Governance News |
| News developments in the field of Corporate Governance. |
| View Source | | Provides Information |
| Crain's NY |
| New York business news. Including back issues and resource material. |
| View Source | | Provides Information |
| Department of Justice: Antitrust Division Home Page |
| News and background from government bureau responsible for anti-trust enforcement. |
| View Source | | Provides Information |
| EconData.Net |
| Free resource for accessing on-line regional socioeconomic data, with links to government, non-profit and other sources of information and statistics by category. |
| View Source | | Provides Information |
| Ecoworld |
| Ideas and discussions about environmmental issues from free market perspective. |
| View Source | | Provides Information |
| Ethical Performance |
| Monthly newsletter for professionals concerned with corporate social responsibility or for investors. |
| View Source | | Provides Information |
| Factiva |
| Delivers worldwide business news and information and powerful searching to provide customers with relevant information to inspire their business decisions. |
| View Source | | Provides Information |
| Financial Times Business Publications |
| Publisher of industry specific management reports, magazines, directories and newsletters. |
| View Source | | Provides Information |
| Fortune |
| The on-line version of Fortune Magazine is part of the Pathfinder web site. |
| View Source | | Provides Information |
| Frontier |
| News for Entrepreneurs. |
| View Source | | Provides Information |
| Inside China Today |
| Chinese business, economic and political news, courtesy of the European Internet Network. |
| View Source | | Provides Information |
| Institute for Policy Studies |
| A think tank for progressive research and action to promote values of justice, nonviolence, sustainability, and decency. |
| View Source | | Provides Information |
| International Monetary Fund |
| News, information, research and other materials from official IMF website. |
| View Source | | Provides Information |
| InternetNews.com |
| Mecklermedia's InternetNews.com covers business, e-commerce, financial, international, Intranet and ISP news. |
| View Source | | Provides Information |
| Journal of Commerce Online |
| The units of the Journal of Commerce Group collectively make up the world's leading source of information on international trade logistics, as well as domestic logistics and international maritime commerce. |
| View Source | | Provides Information |
| Lafferty Group |
| Providers of high value business intelligence including newsletters, reports, executive education, conferences and online learning, on the financial services, accountancy and consulting sectors. |
| View Source | | Provides Information |
| Microsoft Investor |
| Offers superior portfolio management tools and market reports. |
| View Source | | Provides Information |
| Mondaq Business Briefing |
| Provides global coverage of business legislation and regulations, corporate finance and financial markets. |
| View Source | | Provides Information |
| MoreOver.com |
| Brings you the lastest Business news. And webmaster can get live newsfeeds for their website. |
| View Source | | Provides Information |
| Motley Fool, The |
| This popular site presents a mix of business and financial news, stock market commentary, model portfolios and intelligent humor. |
| View Source | | Provides Information |
| National Bureau of Economic Research |
| A private, nonprofit, nonpartisan research organization to promote a greater understanding of how the economy works. |
| View Source | | Provides Information |
| Newstrack |
| A business news audio digest, available in cassette, CD, and RealAudio forms. |
| View Source | | Provides Information |
| PR Newswire |
| Founded in 1954, this service offers financial and business news stories and company press releases. |
| View Source | | Provides Information |
| Reason Online |
| A conservative research and educational organization that promotes public policies based on rationality and freedom. |
| View Source | | Provides Information |
| Russia Today |
| Sponsored by the European Internet Network, Russia Today offers business and political news headlines. |
| View Source | | Provides Information |
| SEC News Digest |
| provides daily information on recent Commission actions, including enforcement proceedings, rule filings, policy statements, and upcoming Commission meetings. |
| View Source | | Provides Information |
| Sierra Club's Responsible Trade Campaign |
| Information, commentary and other resources about global trade and impact on the environment from environmentalist organization the Sierra Club. |
| View Source | | Provides Information |
| TechInvestor |
| CMP's TechInvestor provides feature articles, market and company news, stock quotes, investment strategies, IPO info, press releases, a discussion forum, an e-mail newsletter. |
| View Source | | Provides Information |
| The Digital Tool |
| Breaking stories on technology, convergence, startups in addition to useful tools for business, investing, and the good life. |
| View Source | | Provides Information |
| The Global South |
| Monthly e-journal on the Global South and issues of development. |
| View Source | | Provides Information |
| Turning Points Online |
| monthly publication on the state of the U.S. economy. Aimed for business and investment professionals. |
| View Source | | Provides Information |
| U.S. Federal Trade Commission |
| Antitrust/Competition |
| View Source | | Provides Information |
| US News |
| US news you can use on money, health, tech. travel work and more. |
| View Source | | Provides Information |
| Vanderbilt Center for Environmental Management Studies |
| Interdisciplinary research center for the study of environmental issues faced by business firms. |
| View Source | | Provides Information |
| Worth |
| The Business of you. Keep up with the latest financial changes. |
| View Source | | Provides Information |
| ZDNN |
| Ziff-Davis offers Internet, business and computing news headlines, articles and commentary. Includes links, a searchable database and ZDNN radio. |
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| Resignations |
| Two Top Hospira Executives, Including CEO, Plan To Retire |
| Hospira Inc. Chief Executive Christopher B. Begley plans to retire from the maker of medical devices and injectable drugs once a successor is selected. |
| View Source | August 20, 2010 | Provides Information |
| Duquesne's Druckenmiller retiring after 30 years |
| Stanley Druckenmiller, the investor best known as a key architect of billionaire investor George Soros' famous bet against the British pound, is closing his hedge fund firm after 30 years. |
| View Source | August 18, 2010 | Provides Information |
| Sara Lee Says Barnes To Step Down As CEO |
| Sara Lee Corp. said that its chairman and CEO Brenda Barnes will step down permanently. Barnes has been on medical leave since May 14. The board has initiated a process to select a new chief executive officer, looking at both internal and external candidates. During that process, Marcel Smits will continue as interim chief executive officer and Mark Garvey will continue as interim chief financial officer. |
| View Source | August 9, 2010 | Provides Information |
| HP CEO Hurd Resigns After Sexual Harassment Investigation |
| Hewlett-Packard Co. shocked Wall Street Friday afternoon with the announcement that its chairman and chief executive, Mark Hurd, is resigning immediately in the wake of a sexual harassment investigation that revealed ethics issues. |
| View Source | August 6, 2010 | Provides Information |
| Omnicare CEO, President Gemunder Abruptly Retires |
| Omnicare Inc. Chief Executive Joel F. Gemunder surprised Wall Street by retiring immediately, just days before the provider of drugs to nursing homes and assisted-living centers was scheduled to report second-quarter results. |
| View Source | August 2, 2010 | Provides Information |