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Wen Warns of 'Double Dip' Recession
13 Mar 2010, 8:47 pm
Chinese premier Wen Jiabao warned other countries not to pressure China over its exchange-rate policy, and argued strongly that the yuan is not undervalued. 
China's Wen says external pressure on yuan not helpful
(Reuters)
13 Mar 2010, 7:57 pm
Reuters - Chinese Premier Wen Jiabao said on Sunday that external calls for yuan appreciation were unhelpful, vowing that Beijing would stick to its own course for currency reform while also warning of global economic risks. New York Times Brings Another Family Member Into the Fold
13 Mar 2010, 7:29 pm
Another member of the family that controls New York Times has been brought in to help run the business, this time on the digital side of the Times newspaper. Dodd Bill To Toughen Stance on Banks
13 Mar 2010, 7:14 pm
Senate Banking Committee Chairman Christopher Dodd is finalizing a bill to rework financial market rules that is expected to be tougher against banks than previously expected. Four Released in Ireland Terror Case
13 Mar 2010, 6:51 pm
Irish police on Saturday evening said they have now released all three women who were among seven individuals arrested earlier this week in connection with an alleged plot to murder a Swedish cartoonist. Euro finance ministers to agree on Greek aid: source
(Reuters)
13 Mar 2010, 6:34 pm
Reuters - Euro zone finance ministers are likely to agree on Monday on a mechanism for aiding Greece financially, if it is required, but will leave out any sums until Athens asks for them, an EU source said on Saturday.
France's Lagarde not expecting decision on Greece
(Reuters)
13 Mar 2010, 6:11 pm
Reuters - French Economy Minister Christine Lagarde said on Saturday that she does not expect Euro zone finance ministers to make any decision on financial help for Greece when they meet next week.
New Sen. Brown bashes Obama's 'bitter' health push
(AP)
13 Mar 2010, 5:31 pm
AP - Newly arrived Republican Sen. Scott Brown of Massachusetts accused President Barack Obama and Democrats on Saturday of a "bitter, destructive and endless" drive to pass health overhaul legislation that Brown warned would be disastrous.
France's Lagarde does not expect decision on Greece
(Reuters)
13 Mar 2010, 4:47 pm
Reuters - French Economy Minister Christine Lagarde said on Saturday that she does not expect any decision to be made by Euro zone finance ministers next week on financial help for Greece. Investigation Raises Questions on Prius Incident
13 Mar 2010, 4:09 pm
A federal safety investigation of the Toyota Prius that was involved in a dramatic incident on a California highway last week found a particular pattern of wear on the car's brakes that raises questions about the driver's version of the event, three people familiar with the investigation said. Mom: Paulin-Ramirez Drifted Away
13 Mar 2010, 1:30 pm
The mother of Jamie Paulin-Ramirez described how her daughter began to drift away a year ago, ultimately ending up in custody in Ireland and linked to an alleged plot to kill a cartoonist who satirized the Prophet Mohammed. Obama Outlines 'No Child' Rewrite
13 Mar 2010, 11:37 am
The Obama administration plans to upend how the government measures and encourages success in the country's public schools as part of a sweeping proposal to rewrite the No Child Left Behind law. Repos Key in Lehman Demise
13 Mar 2010, 10:26 am
The bank's scramble to stay alive exposed the murky but crucial role that short-term lending, done in a corner of Wall Street known as the repo market, plays in the financial world. The Professor Who Chases Financial Bubbles
13 Mar 2010, 9:34 am
Didier Sornette's bubble experiment tries to identify four developing bubbles and forecast when they'll peak. Kuwait's Investment Dar files for legal protection
(AFP)
13 Mar 2010, 8:23 am
AFP - Investment Dar, the troubled Kuwaiti firm that owns half of luxury British carmaker Aston Martin, said on Saturday it has filed for legal protection under Kuwait's financial stability law.
Euro finance ministers to agree on Greek aid: source
(Reuters)
13 Mar 2010, 6:48 am
Reuters - Euro zone finance ministers are likely to agree on Monday on the principles and parameters of financial help to Greece, if it is required, but leave out any sums until Athens asks for them, an EU source said.
Li Envoys to Probe Beijing Land Block
13 Mar 2010, 6:29 am
Executives who work with tycoon Richard Li have been sent to Beijing to find out more about why municipal authorities there declared that Mr. Li's companies would be banned from dealing in the city's land market. UBS may return to commodities in 2010: report
(Reuters)
13 Mar 2010, 6:11 am
Reuters - UBS is considering possibly returning to its commodities business this year, some of which it sold during the financial crisis, a Swiss newspaper said on Saturday, citing the co-head of UBS's investment bank.
Kuwait Dar seeks government support
(Reuters)
13 Mar 2010, 6:02 am
Reuters - Kuwait's Investment Dar , which owns half of British carmaker Aston Martin, is applying for support under a government facility set up for troubled companies as part of a debt restructuring. China to bid on US high-speed rail projects
(AP)
13 Mar 2010, 5:39 am
AP - China plans to bid for contracts to build U.S. high-speed train lines and is stepping up exports of rail technology to Europe and Latin America, a government official said Saturday.
Kuwait Dar seeks legal protection
(Reuters)
13 Mar 2010, 5:12 am
Reuters - Kuwait's Investment Dar , which owns half of British carmaker Aston Martin, is applying for support under a government facility set up for troubled companies as part of a debt-restructuring plan. California sues Toyota for hiding defects
(AFP)
13 Mar 2010, 3:15 am
AFP - A California prosecutor has filed a civil lawsuit against Toyota, accusing the Japanese carmaker of intentionally hiding deadly defects from consumers.
German finance ministry unaware of Greek bailout deal
(Reuters)
13 Mar 2010, 12:38 am
Reuters - The German Finance Ministry said on Saturday it was not aware of any agreement by euro zone members to provide a multi-billion euro bailout package for heavily indebted Greece. U.S. needs tighter financial regulation: Summers
(Reuters)
12 Mar 2010, 10:42 pm
Reuters - The United States should rethink domestic and global financial regulation, Lawrence Summers, director of the White House's National Economic Council, said on Friday. Work and Play: Sports Venture Eyes India
12 Mar 2010, 10:02 pm
Sports-marketing giant IMG Worldwide and Indian conglomerate Reliance Industries have set up a joint venture to build a professional sports business in India. Wall Street faces Fed meeting with momentum
(AFP)
12 Mar 2010, 8:06 pm
AFP - Wall Street stocks are set to build on nearly year-and-a-half highs as they face next week's key economic reports and the US Federal Reserve's monetary policy meeting.
Lions Gate Criticizes Icahn Offer
12 Mar 2010, 7:48 pm
Lions Gate urged shareholders to reject a recent tender offer from investor Carl Icahn, calling the bid for the film studio's shares inadequate and coercive. Nortel sales decline as customers cut spending
(Reuters)
12 Mar 2010, 6:52 pm
Reuters - Bankrupt Nortel Networks Corp on Friday posted a 62 percent drop in quarterly revenue, as customers cut spending in the face of uncertainty about its bankruptcy proceedings and the shaky economy. Orange County prosecutor sues Toyota over defects
(AP)
12 Mar 2010, 6:45 pm
AP - The Orange County district attorney has filed a lawsuit against Toyota Motor Corp., accusing the automaker of knowingly selling hundreds of thousands of vehicles with acceleration defects.
Obama eyes Fed picks in central bank revamp
(AFP)
12 Mar 2010, 6:35 pm
AFP - US President Barack Obama is strongly considering three candidates to fill vacancies at the Federal Reserve board, the White House said Friday as he moves to revamp the central bank.
Disney to Cut Film-Production Venture
12 Mar 2010, 6:23 pm
Walt Disney will close director Robert Zemeckis's film-production company next year amid efforts to cut costs. Colorado Mom Arrested in Terror Plot Case
12 Mar 2010, 6:08 pm
Jamie Paulin-Ramirez, a 31-year-old mom, is in the custody of Irish police, along with six others, arrested as part of a probe into the alleged plot to kill a Swedish cartoonist who made fun of the Prophet Mohammed. Nortel Networks posts profit in 4Q
(AP)
12 Mar 2010, 6:08 pm
AP - Bankrupt telecom equipment maker Nortel Networks Corp. said Friday it posted a profit in the fourth quarter, thanks to a large gain related to an asset sale. Euro zone agrees bailout for Greece: report
(Reuters)
12 Mar 2010, 6:02 pm
Reuters - The euro zone has agreed a multi-billion euro bailout for heavily indebted Greece as part of a package to support the euro, the Guardian newspaper reported on Saturday. Park Avenue Bank and Two Others Fail
12 Mar 2010, 5:57 pm
The failures on Friday bring to 30 the total number of financial institutions that have been seized in the U.S. this year. Data, Fed to test if rally has legs
(Reuters)
12 Mar 2010, 5:46 pm
Reuters - Investors will try to tack another leg on to the year-long U.S. stock rally, looking to next week's economic data and statement from the central bank for evidence the recovery is still on track. Examiner unveils Lehman accounting tricks
(AP)
12 Mar 2010, 5:20 pm
AP - An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has found. The question now is whether the trickery spells legal jeopardy for executives of Lehman or its auditors Ernst & Young.
Runaway Prius case presents nagging questions
(AP)
12 Mar 2010, 5:19 pm
AP - Investigators are confronted with a series of nagging questions as they try to unravel the case of a California real estate agent who said his Toyota Prius turned into a runaway death trap after the gas pedal became stuck.
Halozyme narrows 4Q loss due to Hylenex payment
(AP)
12 Mar 2010, 5:08 pm
AP - Biotechnology company Halozyme Therapeutics Inc. said Friday that it trimmed its fourth-quarter loss with help from a large payment from its partner Baxter International and Swiss drug maker Roche. Sarkozy Accuses U.S. of Protectionism
12 Mar 2010, 4:57 pm
French President Nicolas Sarkozy accused the U.S. of protectionism on Friday as political tensions heightened over a controversial $40 billion military-aircraft deal. Pope Knew of Sex-Offender Priest
12 Mar 2010, 4:45 pm
A burgeoning sex-abuse scandal among German priests escalated with a disclosure by Pope Benedict XVI's former archdiocese, which said a priest known to the church as a sex abuser had been returned to pastoral work there while Benedict was the presiding archbishop in 1980. Middle-class NYC apartment complex sold at auction
(AP)
12 Mar 2010, 4:43 pm
AP - The developer of a high profile middle-class Harlem apartment complex has lost ownership of the property after defaulting on the mortgage. How the major stock indexes fared on Friday
(AP)
12 Mar 2010, 4:34 pm
AP - Mixed economic reports held the stock market to only modest moves Friday but gains for the week were strong. Summary Box: Retail sales post surprising gain
(AP)
12 Mar 2010, 4:29 pm
AP - RETAIL SALES: Retail sales rose 0.3 percent in February, surprising economists who had forecast a decline because of their expectation that major snowstorms would keep consumers away from stores. Economy Gets Boost From Consumer Spending
12 Mar 2010, 4:27 pm
A string of surprisingly strong corporate earnings reports and economic data show that U.S. consumers have emerged from a long hibernation to start spending again on everything from new TVs and restaurant meals to spring outfits. MCM's Eastern Makeover
12 Mar 2010, 4:18 pm
MCM epitomizedglamour...in the 1980s. Now an ambitious South Korean businesswoman is attempting to resurrect the faded luxury brand. Data, Fed to test if rally still has legs
(Reuters)
12 Mar 2010, 4:07 pm
Reuters - Investors will try to tack another leg on to the year-long U.S. stock rally, looking to next week's economic data and statement from the central bank for evidence the recovery is still on track. US wine exports fall 15 percent in 2009
(AP)
12 Mar 2010, 3:59 pm
AP - People worldwide are still buying U.S. wine in a tight economy, although exports were down in 2009 from 2008's record-setting year. Whirlpool, Zumiez, LTX-Credence are big movers
(AP)
12 Mar 2010, 3:34 pm
AP - Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: Apple's Cook Gets $22 Million Bonus
12 Mar 2010, 3:31 pm
Apple Chief Operating Officer Timothy Cook was awarded a cash and stock bonus worth about $22 million for his performance while filling in during Chief Executive Steve Jobs's medical leave last year. Summary Box: Obama mulls choices for Fed vacancies
(AP)
12 Mar 2010, 3:24 pm
AP - RESHAPING THE FED: President Barack Obama needs to fill three vacancies at the Federal Reserve. Janet Yellen, president of the Federal Reserve Bank of San Francisco, is his top pick to be vice chairman. Union Pacific business stronger than expected
(AP)
12 Mar 2010, 3:04 pm
AP - The CEO of the nation's largest railroad says shipments are stronger than expected this year. WaMu Dispute Gets Settled
12 Mar 2010, 2:36 pm
A lingering chapter of the 2008 financial crisis closed Friday when Washington Mutual, J.P. Morgan and federal regulators settled a dispute over billions of dollars in assets. Nucor CEO's pay package falls 43 percent
(AP)
12 Mar 2010, 2:31 pm
AP - An Associated Press calculation finds that steel maker Nucor Corp. paid its CEO fell 43 percent last year as it eliminated cash bonuses for executives to help it weather the recession. BofA Agrees to Be More Transparent With Donations
12 Mar 2010, 2:09 pm
New York City Comptroller John C. Liu has scored a coup in an ongoing national effort to increase corporate transparency after the U.S. Supreme Court lifted a century-old ban on corporate political spending. Lehman Shows Benefits of Scrutiny
12 Mar 2010, 1:51 pm
The report by the court-appointed examiner for the bankrupt Lehman Brothers analyzes the bank's demise with forensic thoroughness. But it is also a depressing reminder of how much remains unknown about the near-collapses of AIG, Fannie Mae, Freddie Mac, Citigroup, Bear Stearns and Bank of America's Merrill Lynch. US retail sales beat blizzards with surprise rise
(AFP)
12 Mar 2010, 1:09 pm
AFP - The storied American consumer braved blizzards and economic headwinds to shop in February, unexpectedly pushing up retail sales for the second straight month, official data showed Friday.
Louisiana job outlook improves somewhat in January
(AP)
12 Mar 2010, 1:08 pm
AP - Louisiana's job picture improved somewhat in January, despite the loss of retail jobs for the Christmas season and jobs temporarily held by students, the Louisiana Workforce Commission reported Friday. Slow financial regulatory reform irks industry
(Reuters)
12 Mar 2010, 12:54 pm
Reuters - The pace of financial regulatory reform remains slow even as the global economy struggles to recover from a crisis that many say was caused by inadequacies in the current system, attendees at an annual financial conference said this week. Texas ed board adopts social studies standards
(AP)
12 Mar 2010, 12:27 pm
AP - The Texas State Board of Education has preliminarily adopted new standards that will direct teachers in social studies, history and economics for millions of students for the next decade. SeaChange shares tumble after break-even 4Q
(AP)
12 Mar 2010, 12:25 pm
AP - Shares of SeaChange International Inc. tumbled Friday after the company reported a break-even fourth quarter and said one of its top executives has resigned. Verizon to list on Nasdaq as well as NYSE
(AP)
12 Mar 2010, 10:48 am
AP - Verizon Communications Inc. said Friday it will list its stock on the Nasdaq exchange along with its existing New York Stock Exchange listing. FTSE shares close higher
(AFP)
12 Mar 2010, 10:29 am
AFP - FTSE 100 shares ended slightly higher on Friday on news that retail sales in the United States rose unexpectedly in February for the second straight month.
Clear Channel Outdoor climbs after 4Q results
(AP)
12 Mar 2010, 10:24 am
AP - Shares of Clear Channel Outdoor Holdings Inc. rose Friday after the billboard advertising company posted a smaller net loss for the fourth quarter and beat Wall Street's revenue forecast. Earnings schedule for week of 03/15/10
(AP)
12 Mar 2010, 10:08 am
AP - Major companies tentatively scheduled to report quarterly earnings next week: Cheap cigars, politics and the Volcker Rule
(Reuters)
12 Mar 2010, 9:45 am
Reuters - In mid-January, a who's who of Wall Street gathered to hear Paul Volcker, the former Federal Reserve chairman whose role in the White House seemed at best unclear. Obama eyes dovish policymaker as Fed number two: reports
(AFP)
12 Mar 2010, 8:54 am
AFP - US President Barack Obama plans to nominate San Francisco regional central bank chief Janet Yellen, a policy dove, as Federal Reserve Board number two, news reports said Friday.
Unemployment higher among young war veterans
(AP)
12 Mar 2010, 8:51 am
AP - The Labor Department says the unemployment rate for young Iraq and Afghanistan veterans was 21.1 percent last year. New slide in US videogame sales
(AFP)
12 Mar 2010, 8:21 am
AFP - NPD Group on Thursday said US videogame sales slid 15 percent in February to 1.26 billion dollars, defying optimism that the industry would rebound on a reviving economy.
Consumer sentiment dipped in early March
(Reuters)
12 Mar 2010, 8:01 am
Reuters - U.S. consumer sentiment declined slightly in early March, with Americans less positive about the job outlook, a survey released on Friday showed. KKR to list shares on NYSE
(AP)
12 Mar 2010, 7:31 am
AP - KKR & Co. LP, the parent of private equity giant Kohlberg Kravis Roberts said Friday that it plans to list its shares on the New York Stock Exchange. KKR to list shares on NYSE
(AP)
12 Mar 2010, 6:20 am
AP - KKR & Co. LP, the parent of private equity firm Kohlberg Kravis Roberts, is planning to list its shares on the New York Stock Exchange, according to a regulatory filing. With Jobs Scarce, MBAs Create Their Own
(BusinessWeek)
12 Mar 2010, 6:08 am
BusinessWeek - After six frenetic years, credit analyst Jennifer Wright watched her industry cool off overnight. What had been a bustling area prior to mid-2007 -- collateralized loan obligations -- went into shutdown mode. Firms liquidated, investors grew leery, deals dried up, and suddenly "there wasn't any significant career potential," says Wright. It was a perfect excuse to go back to school. By January of 2008 she had enrolled in Columbia Business School's Executive MBA program with the aim of switching to another area of finance, like capital markets. ... Richard Florida: The U.S. Is Facing a 'Talent Shift'
(BusinessWeek)
12 Mar 2010, 6:08 am
BusinessWeek - Richard Florida, the author of the bestselling books The Rise of the Creative Class and The Flight of the Creative Class, is a preeminent thinker about human capital and its importance for business. His new book, The Great Reset, due out in April, argues that a true recovery will require a complete break from the consumption lifestyle and a move towards a new economic model that is actually sustainable. Second Lives: From Gold Funds to Farming
(BusinessWeek)
12 Mar 2010, 6:08 am
BusinessWeek - Graham Birch's knee-high boots are caked with mud as he climbs onto his tractor. His two dairy and sheep farms in southwest England cover 3,658 acres, an area more than five times the size of the City, London's financial district, where Birch worked for the last quarter-century in shoes seldom covered in anything but a shine. No More Steady Paycheck
(BusinessWeek)
12 Mar 2010, 6:08 am
BusinessWeek - I am in my late twenties, I'm unemployed, and my limited savings from five years of employment are nearly depleted. Yet, unlike many victims of the recession, I actually put myself in this position voluntarily. Why? Because I have nearly two full years of my life to pursue whatever academic and career endeavors I choose. I'm on my own clock, and the only person I am accountable to is myself. It's an incredible opportunity, and I consider myself extremely fortunate to be in this position. ... Entrepreneurial Spirit Soars on B-School Campuses
(BusinessWeek)
12 Mar 2010, 6:08 am
BusinessWeek - With the job market still rocky, a growing number of MBA students are launching their own businesses straight out of school. Recruiting remains down at many campuses this year, and as a result, starting a company looks more appealing than ever to beleaguered B-school students. At business schools across the country, students are signing up for entrepreneurship classes in droves, entering business school competitions, and dangling their carefully crafted business plans before angel investors and venture capitalists. ... Revenge of the Cable Guys
(BusinessWeek)
12 Mar 2010, 6:08 am
BusinessWeek - Once upon a time, not so long ago, a bunch of small companies in Silicon Valley thought the future of television was theirs. Soon, the thinking went, TV would be everywhere. Frequent fliers would tune in on laptops and vacationers on tablets from the beach. If so inclined, you'd be able to watch Glee on a cell phone in a tree house. The network suits and the cable guys just didn't have the digital chops to make it happen. ... KKR files for NYSE listing
(Reuters)
12 Mar 2010, 6:07 am
Reuters - Kohlberg Kravis Roberts & Co has filed to list its shares on the New York Stock Exchange, the private equity giant said on Friday. European stock markets gain ground
(AFP)
12 Mar 2010, 4:58 am
AFP - Europe's main stock markets rose Friday as investors awaited crucial economic data and tracked US attempts to rein in the banking sector, dealers said.
Stock futures trading higher ahead of open
(AP)
12 Mar 2010, 4:48 am
AP - Stock futures are trading higher as investors look to consumers for guidance on the economic recovery.
S&P 500 hits 17-month high as banks lift Wall Street
(Reuters)
11 Mar 2010, 8:32 pm
Reuters - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy.
Summary Box: Regulators appeal on swaps
(AP)
11 Mar 2010, 7:09 pm
AP - WARNING ON DERIVATIVES: The head of the Securities and Exchange Commission is calling anew for Congress to impose new oversight on financial derivatives. Mary Schapiro warns that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage. Summary Box: S&P 500 index closes at 17-month high
(AP)
11 Mar 2010, 7:04 pm
AP - JUST BY A HAIR: The Standard & Poor's 500 index inched just above its recent peak in January to set a new 17-month high. The achievement is a welcome sign for traders who were concerned the market would stall around the January levels. SEC head urges Congress to act on derivatives
(AP)
11 Mar 2010, 5:24 pm
AP - The government's top securities regulator called Thursday for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage.
SEC head prods Congress on derivatives rules
(Reuters)
11 Mar 2010, 4:46 pm
Reuters - The top U.S. securities regulator said market watchdogs need to supervise credit default swaps, securities blamed for exacerbating 2008's market meltdown and more recently the Greek debt crisis. How the major stock indexes fared on Thursday
(AP)
11 Mar 2010, 4:18 pm
AP - A rally in financial stocks Thursday helped the market extend its grind higher to a third day. Earnings roundup: Xoma, Pacific Sunwear
(AP)
11 Mar 2010, 4:10 pm
AP - Among the earnings stories for Thursday, March 11, from AP Financial News: Ulta Salon expects earnings and sales growth
(AP)
11 Mar 2010, 4:08 pm
AP - Ulta Salon Cosmetics & Fragrance Inc. on Thursday said it expects its earnings per share to double or nearly double in its fiscal first quarter compared with a year ago. Ulta Salon quarterly profit jumps
(AP)
11 Mar 2010, 4:06 pm
AP - Ulta Salon Cosmetics & Fragrance Inc. on Thursday said its fourth-quarter profit rose 65 percent as its sales and merchandise margins improved. Pacific Sunwear widens loss in 4Q
(AP)
11 Mar 2010, 3:45 pm
AP - Clothing chain Pacific Sunwear of California Inc. reported late Thursday that its fourth-quarter loss widened as sales fell. Storms cut Air Methods 4Q profit by 27 percent
(AP)
11 Mar 2010, 3:37 pm
AP - Air Methods Corp., which provides emergency medical air transportation, said Friday that its fourth-quarter profit fell 27 percent as severe weather led providers to cancel patient transports. A look at global economic developments
(AP)
11 Mar 2010, 3:21 pm
AP - A look at economic developments and activity in major stock markets around the world Thursday: Books-A-Million 4Q profit up, will pay dividend
(AP)
11 Mar 2010, 2:42 pm
AP - Chain book store Books-A-Million Inc. reported Thursday that its profit edged up slightly in the fourth quarter despite a drop in sales. Kratos reports 4Q profit
(AP)
11 Mar 2010, 2:09 pm
AP - Defense contractor Kratos Defense & Security Solutions Inc. reported a fourth-quarter profit Thursday. At a Glance: Smithfield Foods 3Q results
(AP)
11 Mar 2010, 11:52 am
AP - Weak demand has hurt Smithfield Foods for some time, and the company cut production during its third quarter, which further hurt sales. But the company says trends are improving, and it saw gains in some areas. Summary Box: Smithfield Foods 3Q results
(AP)
11 Mar 2010, 11:36 am
AP - RECOVERY: Smithfield Foods Inc., the nation's largest hog producer and pork processor, reported a profit in its third quarter after more than a year of losses. Regulator faults Wall Street banks on derivatives
(AP)
11 Mar 2010, 11:36 am
AP - A federal regulator says Wall Street banks are seeking exemptions to proposed new rules for financial derivatives that could shield more than half the trades in the complex instruments that should be subject to disclosure. SMTC Corp. moves to profit in 4th quarter
(AP)
11 Mar 2010, 11:35 am
AP - SMTC Corp. on Thursday said it moved to a quarterly profit, which sent shares of the electronics manufacturing services provider higher. Smithfield Foods sees profit in 3Q, tops forecasts
(AP)
11 Mar 2010, 11:35 am
AP - Smithfield Foods Inc., the nation's largest hog producer and pork processor, reported a profit on Thursday for its third quarter after more than a year of losses.
Willbros posts 4Q loss as revenue tumbles
(AP)
11 Mar 2010, 10:49 am
AP - Willbros Group Inc., an engineering and construction company, reported Thursday a narrower fourth-quarter loss as it cut costs as its revenue fell by more than half. Jackson Hewitt swings to fiscal 3rd-quarter loss
(AP)
11 Mar 2010, 10:44 am
AP - Jackson Hewitt Tax Service Inc. on Thursday said it moved to a quarterly loss, hurt by one-time charges and lower sales, partly due to the problems with a key program ahead of tax season. Imax posts 4Q profit, reversing loss
(AP)
11 Mar 2010, 6:47 am
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. Experts Talk Budget Deficit, Wholesale Trade, Housing
(BusinessWeek)
11 Mar 2010, 6:08 am
BusinessWeek - Bloomberg BusinessWeek compiles comments from Wall Street economists and strategists on the key economic and market topics of Mar. 10. Kim Rupert and Michael Wallace, Action Economics The U.S. Treasury reported a $220.9 billion deficit for February. That's not quite the -$223 billion estimated by the Congressional Budget Office, but it's up 14.0% from the -$193.9 billion from last year. It brings the fiscal year deficit to date to $651.6 billion, vs. -$589.8 billion for the same five-month period in 2009, up 10.5%. February receipts climbed 23.1% year-over-year, while outlays were up 16.8%. ... BMW 2009 net income falls 36 pct to $286 million
(AP)
11 Mar 2010, 4:00 am
AP - German carmaker BMW AG says its 2009 net income fell 36 percent to euro210 million ($286 million) because of lower demand for its cars during the economic downturn as well as a higher tax rate. Volkswagen confirms 2009 net income fell 80 pct
(AP)
11 Mar 2010, 3:29 am
AP - Europe's biggest carmaker Volkswagen AG says its 2009 net income declined 80 percent to euro960 million ($1.3 billion), confirming its preliminary estimate released in February.