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REUTERS
CHINA BANK CHIEF IN STIMULUS PUSH WARNINGBEIJING (Reuters) - China's massive economic stimulus plan has launched some projects that are wasteful, possibly making it hard for investors involved to repay bank loans, China's central bank chief said on Saturday....Date: 04 Jul 2009 02:10:03 ESTCHINA CENBANK CHIEF WARNS OF RISKS IN STIMULUS PUSHBEIJING (Reuters) - China's massive economic stimulus plan has launched some projects that are wasteful, possibly making it hard for investors involved to repay bank loans, China's central bank chief said on Saturday....Date: 04 Jul 2009 01:53:04 ESTSHANGHAI PLANS OWN "WALL STREET BULL": REPORTBEIJING (Reuters) - Wall Street may be down on its luck, but China's growing business hub, Shanghai, plans to install its own version of the Street's famed charging bull statue, casting in metal its hopes to eventually rival New York....Date: 04 Jul 2009 01:19:18 ESTABOUT 10 FIRMS SUBMIT BIDS FOR AIG TAIWAN UNIT: REPORTSTAIPEI (Reuters) - About 10 global and Taiwan financial firms have submitted bids to buy troubled AIG's Taiwanese insurance unit, newspapers said on Saturday, in a deal that could fetch up to over $2 billion....Date: 04 Jul 2009 01:19:01 ESTTESCO LASTS SHR OPTIONS PROTESTGLASGOW (Reuters) - Tesco, Britain's largest retailer, narrowly survived a big investor protest over changes to its management share option plan and more comfortably saw off complaints it should do more to help migrant workers....Date: 03 Jul 2009 19:27:02 ESTTECK TO SELL 17 PERCENT STAKE TO CHINA FOR C$1.74 BILLIONTORONTO (Reuters) - Teck Resources said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help the Canadian miner pay down its debt while expanding China's portfolio of commodity investments....Date: 03 Jul 2009 18:36:02 ESTG8 UNITED IN NOT SHIFTING RESERVE CURRENCY(Reuters) - The Group of Eight leading industrialized nations are showing little enthusiasm for China's idea of questioning the dollar's status as the main global reserve currency, a G8 source involved in preparations for next week's G8 summit said on Friday....Date: 03 Jul 2009 17:45:04 ESTSTANFORD CLIENTS SUE WILLIS GROUPNEW YORK (Reuters) - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion (4.3 billion pound) fraud at the Texas-based investment company....Date: 03 Jul 2009 17:28:19 ESTSTANFORD CLIENTS SUE INSURANCE BROKER WILLIS GROUPNEW YORK (Reuters) - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texas-based investment company....Date: 03 Jul 2009 17:28:02 ESTDOLLAR STATUS UNLIKELY TO BE IN G8 COMMUNIQUE(Reuters) - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday....Date: 03 Jul 2009 14:38:46 ESTCOFFEE REPUBLIC SET FOR ADMINISTRATIONLONDON (Reuters) - Coffee retailer Coffee Republic looked set to go into administration on Friday after it asked for its shares to be suspended from trading....Date: 03 Jul 2009 14:38:32 ESTE.ON TO CUT GAS PRICES FROM SATURDAYLONDON (Reuters) - E.ON will cut gas prices to customers from Saturday by an average of 25 pounds per year, or 3.3 percent, the company said....Date: 03 Jul 2009 14:38:18 ESTDOLLAR STATUS UNLIKELY TO BE IN G8 COMMUNIQUE: G8 SOURCE(Reuters) - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday....Date: 03 Jul 2009 14:38:02 ESTTESCO SURVIVES PROTEST OVER SHARE OPTIONSGLASGOW (Reuters) - Tesco, Britain's largest retailer, narrowly survived a big investor protest over changes to its management share option plan and more comfortably saw off complaints it should do more to help migrant workers....Date: 03 Jul 2009 14:21:23 ESTOIL FALLS BELOW $66 AFTER BLEAK U.S. JOBS DATALONDON (Reuters) - Oil dropped a dollar to below $66 a barrel on Friday after unemployment data hardened views economic weakness would sap energy demand and that last month's rally was overdone....Date: 03 Jul 2009 14:21:02 ESTTECK TO SELL 17 PERCENT STAKE TO CHINA FOR C$1.7 BILLIONTORONTO (Reuters) - Canada's Teck Resources will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion ($1.5 billion) and help the miner pay down debt, it said on Friday....Date: 03 Jul 2009 14:04:01 ESTEURO ZONE MINISTERS TO RAISE FEARS OF SLOW RECOVERYBRUSSELS (Reuters) - Euro zone finance ministers are expected to voice fears on Monday that a recovery from the economic crisis could be slow as the region's ability to generate new wealth will shrink, diplomats said....Date: 03 Jul 2009 13:47:25 ESTMEDICI LAWYER SAYS KOHN DIDN'T GET MADOFF PAYMENTSNEW YORK/VIENNA (Reuters) - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said on Friday....Date: 03 Jul 2009 13:47:02 ESTBANKS, DEFENSIVES PUSH FTSE HIGHERLONDON (Reuters) - The leading equity index closed marginally higher on Friday as positive financial and defensive stocks outpaced weaker commodity shares, which tracked a decline in crude and metals prices....Date: 03 Jul 2009 12:56:03 ESTBA SLASHES SPENDING AS PASSENGERS FALLLONDON (Reuters) - British Airways (BA) said it had cut its spending plans by 20 percent for the current year as it prepared for a lengthy industry downturn and reported that passenger numbers had fallen again....Date: 03 Jul 2009 12:39:03 EST
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ASSOCIATED PRESS
VENEZUELA ASSUMES CONTROL OF SPANISH-OWNED BANKCARACAS, Venezuela (AP) -- President Hugo Chavez's government assumed control of Venezuela's third-largest bank on Friday - making the state the largest player in the nation's banking system.......Date: 04 Jul 2009 01:02:04 ESTCOMMUNITIES BUG OUT OVER CUTS TO MOSQUITO CONTROLMillions of mosquito eggs laid across southern Texas after Hurricane Ike hit the coast last summer are waiting for the little bit of rain and hot summer days they need to hatch. That's got the man whose job it is to fight the bugs worried - he's already running out of money.......Date: 03 Jul 2009 21:43:04 ESTMOUNTAIN OF DEBT: RISING DEBT MAY BE NEXT CRISISWASHINGTON (AP) -- The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt.......Date: 03 Jul 2009 15:46:03 ESTAIRLINE BA TO CUT CAPACITY, DELAY NEW PLANESLONDON (AP) -- British Airways PLC announced Friday it will ground aircraft, slash seat numbers and postpone taking delivery of a dozen new Airbus A380 superjumbos as it faces a recession-driven decline in passengers.......Date: 03 Jul 2009 15:29:09 ESTHEALTHSOUTH ACCUSES SCRUSHY OF HIDING ASSETSBIRMINGHAM, Ala. (AP) -- HealthSouth Corp. is accusing fired chief executive Richard Scrushy of hiding money in offshore bank accounts and transferring assets out of his name to avoid paying court judgments.......Date: 03 Jul 2009 15:12:03 ESTJOB SEEKERS SEEK SOLACE WITH FELLOW FAITHFULBEVERLY, Mass. (AP) -- Her fellow job seekers offer knowing groans as Diane Castro recalls the day she was laid off: The fear of being summoned to the front office. The phones in nearby cubicles going off like grenades. Finally, a ring at her desk.......Date: 03 Jul 2009 14:38:59 ESTMUCH-NEEDED TAX REFUNDS DELAYED FROM GA. TO CALIF.ATLANTA (AP) -- Colin Daymude was out of work last year after his business failed and eagerly filed his taxes in mid-January, figuring he'd get his refund sooner. He was wrong.......Date: 03 Jul 2009 14:04:35 ESTTEXAS BREWER, ONCE NEAR DEFEAT, SHINES AGAINSHINER, Texas (AP) -- By all accounts, Shiner beer shouldn't have made it this long. The Spoetzl Brewery ferments its brew in a one-stoplight town that's not on the way to anywhere, and much larger regional brewers long ago succumbed to consolidation and the muscle of national brewers.......Date: 03 Jul 2009 14:04:24 ESTTHE OLD IS NEW AGAIN AT SATURDAY EVENING POSTINDIANAPOLIS (AP) -- The Saturday Evening Post, a centuries-old publication that helped make illustrator Norman Rockwell a household name and showcased some of America's greatest writers, is returning to its roots to show readers the value of a quiet read in an increasingly frenetic digital age....Date: 03 Jul 2009 12:56:33 ESTOIL BROKERAGE LOSES $10 MLN ON ROGUE TRADESLONDON (AP) -- PVM Oil Associates, the world's biggest over-the-counter oil brokerage, says it lost nearly $10 million this week because of unauthorized trades that caused a temporary spike in Brent crude markets.......Date: 03 Jul 2009 12:56:21 ESTCHINA INVESTMENT BUYING STAKE IN TECK RESOURCESVANCOUVER, British Columbia (AP) -- Mining company Teck Resources Ltd. says it is selling a 17 percent stake to China Investment Corp. for 1.74 billion Canadian dollars ($1.5 billion) in a bid to reduce its debt load.......Date: 03 Jul 2009 12:39:30 ESTEUROPEAN STOCKS CALM AS US READIES FOR 4TH OF JULYLONDON (AP) -- European stock markets traded in a narrow range Friday as investors caught their breath after big losses the day before on U.S. jobs data. Wall Street's closure for the Independence Day holiday kept trading volumes exceptionally light.......Date: 03 Jul 2009 12:39:19 ESTOIL HOVERS ABOVE $66 AFTER WEAK JOBS DATAOil prices hovered above $66 a barrel Friday in light holiday trading a day after grim unemployment numbers from the U.S. and Europe sent prices tumbling.......Date: 03 Jul 2009 09:32:06 ESTWORLD MARKETS SLIDE ON GRIM US JOBS REPORTHONG KONG (AP) -- Most Asian markets fell Friday as a weaker-than-expected U.S. jobs report signaled more pain ahead for the world's largest economy. European stocks also weakened in early trade.......Date: 03 Jul 2009 05:00:11 ESTOIL HOVERS ABOVE $66 IN ASIA AFTER WEAK JOBS DATASINGAPORE (AP) -- Oil prices hovered above $66 a barrel Friday in Asia in light holiday trading a day after grim unemployment numbers from the U.S. and Europe sent crude prices tumbling.......Date: 03 Jul 2009 04:43:45 ESTHAWAII JUDGE HALTS FURLOUGHS FOR STATE EMPLOYEESHONOLULU (AP) -- A Hawaii judge has blocked Gov. Linda Lingle from forcing thousands of public employees to take three unpaid days off per month, dealing her a setback in efforts to tame a huge state budget gap.......Date: 03 Jul 2009 04:09:38 ESTPLANT DISEASE HITS EASTERN US VEGGIES EARLY, HARDCONCORD, N.H. (AP) -- Tomato plants have been removed from stores in half a dozen states as a destructive and infectious plant disease makes its earliest and most widespread appearance ever in the eastern United States.......Date: 03 Jul 2009 04:09:24 ESTSTATES SET TO RING IN INDEPENDENCE DAY SANS BUDGETCOLUMBUS, Ohio (AP) -- Several states are facing the prospect of government shutdowns and program cuts as they enter the first weekend of the fiscal year and July Fourth holiday without a budget in place.......Date: 03 Jul 2009 04:09:02 ESTUNDER SENATE HEALTH CARE PLAN, EITHER WAY YOU PAYWASHINGTON (AP) -- First you paid to insure your car. Soon you may have to add health insurance premiums to that stack of monthly bills as well.......Date: 03 Jul 2009 03:53:00 ESTIOUS SPELL UNCERTAINTY FOR CALIF. SMALL BUSINESSESBERKELEY, Calif. (AP) -- Business consultant Katrina Kennedy has taken her young son out of preschool and put a family vacation on hold. Dairyman Mike O'Kelly is wondering whether he is going to have to let employees go.......Date: 03 Jul 2009 03:52:46 EST -
WALL STREET JOURNAL
CIC TAKES STAKE IN TECKMining company Teck Resources agreed to sell a 17% stake to China Investment Corp. for about $1.5 billion, with the aim of reducing bank debt....Date: 04 Jul 2009 01:53:22 ESTMARINES PUSH DEEPER INTO AFGHANISTANMarines moved into villages in Taliban strongholds in southern Afghanistan, meeting little resistance on the second day of a large U.S. offensive....Date: 03 Jul 2009 18:36:28 ESTPALIN TO RESIGN AS ALASKA GOVERNORFormer Republican vice presidential candidate Palin announced she is stepping down as Alaska's governor on July 26 and transferring authority to Lt. Gov. Parnell. (Statement)...Date: 03 Jul 2009 17:11:06 ESTSTANFORD CUSTOMERS SUE INSURANCE BROKERSTwo law firms representing Latin American customers of Stanford Financial have filed a class-action suit against U.K. insurance broker Willis, contending that it shoulders partial responsibility for investors' losses....Date: 03 Jul 2009 14:04:47 ESTUTILITIES, METALS WEIGH ON MARKETSEuropean shares moved lower, with utilities and metals producers pressuring markets....Date: 03 Jul 2009 13:13:07 ESTEU SEEKS TO LIMIT DERIVATIVES RISKEuropean regulators proposed measures that could place additional burdens on Europe's derivatives industry, fueling concerns that trading could be pushed onto exchanges, crimping the profits....Date: 03 Jul 2009 12:39:39 ESTPVM NAMES BROKER IN UNAUTHORIZED TRADESOil brokerage firm PVM Oil Futures identified the broker involved in unauthorized oil trades by the firm earlier this week, causing a loss totaling "a little under $10 million."...Date: 03 Jul 2009 12:05:30 ESTASIA OFFICIALS DISPUTE SAVINGS GLUT THEORYAsian officials and scholars say lax U.S. financial regulation is to blame for the financial crisis, rather than their countries' high savings rates....Date: 03 Jul 2009 12:05:18 ESTCIC TAKES 17% STAKE IN TECKMining company Teck Resources agreed to sell a 17% stake to China Investment Corp. for about $1.5 billion, with the aim of reducing bank debt....Date: 03 Jul 2009 11:31:05 ESTBA TO TRIM CAPACITY AS TRAFFIC FALLSBritish Airways reported that passenger traffic declined in June, prompting the carrier to further reduce summer and winter capacity....Date: 03 Jul 2009 10:57:04 ESTPVM IDENTIFIES BROKER IN UNAUTHORIZED TRADESOil brokerage firm PVM Oil Futures identified the broker involved in unauthorized oil trades by the firm earlier this week, causing a loss totaling "a little under $10 million."...Date: 03 Jul 2009 10:40:28 ESTCHINA TURNS UP HEAT ON CARBONChina's central government reiterated its opposition to carbon tariff policies and said they could provoke a trade war, ratcheting up the rhetoric as lawmakers in the U.S. consider legislation to reduce greenhouse gases....Date: 03 Jul 2009 09:15:33 ESTEUROPEAN STOCKS TRADE MIXEDEuropean stocks were mixed, with investors wary of putting money back into play given concerns over the pace of a potential economic recovery amid thin trading conditions....Date: 03 Jul 2009 08:59:03 ESTMARKETS FALL ON U.S. JOBS DATAMost Asian markets fell Friday following a dismal U.S. jobs report. The Nikkei was down 0.6%....Date: 03 Jul 2009 08:07:40 ESTEUROPEAN STOCKS LOSE GROUNDEuropean stocks were marginally lower, with investors wary of putting money back into play given concerns over the pace of a potential economic recovery amid thin trading conditions....Date: 03 Jul 2009 08:07:26 ESTRISING JOB LOSSES DAMP RECOVERY HOPESJob losses accelerated last month and the unemployment rate rose to 9.5%, casting doubt on the U.S. economy's ability to rebound soon....Date: 02 Jul 2009 23:25:06 ESTIRAQ MOVES UP BIDS FOR OIL FIELDSIraq said it will move up a second round of licensing bids for 11 oil and natural-gas fields that was to be held at the end of this year....Date: 02 Jul 2009 22:00:57 ESTTALLY HITS 52 AS REGULATORS CLOSE 7 BANKSRegulators closed six banks in Illinois and one in Texas, raising the number of bank failures in the U.S. to 52 this year. The seizures were the most in a single day during the financial crisis....Date: 02 Jul 2009 22:00:16 ESTTALLY HITS 48 AS 3 BANKS FAIL IN ILLINOISRegulators closed six banks in Illinois and one in Texas, raising the number of bank failures in the U.S. to 52 this year. The seizures were the most in a single day during the financial crisis....Date: 02 Jul 2009 21:43:05 ESTEURO-ZONE UNEMPLOYMENT HITS 9.5%The ECB kept its key rate at a record low 1% and signaled it is unlikely to cut rates further or launch new lending programs soon....Date: 02 Jul 2009 21:26:07 EST
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FINANCIAL TIMES
NORTH KOREA TEST-FIRES MISSILESSouth Korea's Yonhap news agency, citing an unnamed government official, reports that North Korea on Saturday test-fired two Scud-type missiles that have an estimated range of 500km...Date: 03 Jul 2009 22:34:07 ESTPALIN RESIGNS AS ALASKA GOVERNORSarah Palin abruptly resigned on Friday as governor of Alaska, saying she did not want to waste her time on 'political blood sport' and would hand power to her deputy later this month....Date: 03 Jul 2009 18:54:06 ESTMINISTERS CONSIDER CHANGES ON COUNCIL PENSIONSFunding requirements for 3.7m council workers' pensions could be loosened by the government to avoid a sharp increase in local taxes or a showdown with the unions...Date: 03 Jul 2009 18:53:51 ESTFERGUSON AND FROST UNITE FOR PROPERTY VENTURESir Alex Ferguson, manager of English football team Manchester United, is to join forces with the television star Sir David Frost in a £1bn property venture backed by Middle Eastern investors...Date: 03 Jul 2009 18:53:30 ESTQUESTIONS GROW OVER OIL SPIKE BROKERAGEPVM Oil Associates manager wrote bullish note on rising prices before rogue trade discovered...Date: 03 Jul 2009 18:53:06 ESTDOUBTS HANG OVER HOUSEBUILDERSSince equity markets bottomed in March, bricks and mortar – as measured by the UK Datastream home construction index – have lagged behind the wider market...Date: 03 Jul 2009 17:28:49 ESTINVESTORS ANGRY OVER KEYDATA COLLAPSEThe failure of the specialist UK investment firm uncovers claims that two Luxembourg-based bond products have failed to make scheduled payments...Date: 03 Jul 2009 17:28:34 ESTINDEX SUGGESTS RETURN TO ANAEMIC GROWTHThe UK's service sector grew for the second month in a row in June, according to a survey of business activity, allthough the speed of recovery appeared to ease...Date: 03 Jul 2009 16:03:09 ESTHALABI FAMILY TRUSTS HIT BY DEFAULT ON £1BN LOANThe loan of more than £1bn that backed a portfolio of central London office buildings owned by investor Simon Halabi's family trusts has gone into default, raising questions about the future ownership of the properties...Date: 03 Jul 2009 15:46:30 ESTCHINA JOINS CARBON TAX PROTESTBeijing has joined a growing clamour of complaint about US plans for a carbon tax on imports from countries without their own emission caps, warning it could set off a global trade war...Date: 03 Jul 2009 15:12:31 ESTNO HOOPS ALLOWED IN CHAOS OF G8 LOGISTICSSuch is the chaotic state of preparations for the July 8-10 summit in a police barracks on the edge of L'Aquila that scores of reporters were kept penned for hours outside in a temporary press centre...Date: 03 Jul 2009 14:55:26 ESTBURMESE ELITE ENJOY TIMES OF PLENTYSome Rangoon business people say its spurt of highly conspicuous consumption reflects the economy's deep malaise rather than its fundamental health...Date: 03 Jul 2009 14:55:08 ESTEU CALL TO BOOST USE OF OTC CENTRAL CLEARINGEurope's top regulator urged more standardisation in the 'over-the-counter' derivatives markets and increased use of central clearing, mirroring similar moves by US authorities to clean up after the worst of the financial crisis...Date: 03 Jul 2009 12:56:45 ESTLONDON 'VERY CONCERNED' BY IRAN TRIAL THREATBritain's Foreign Office said it was 'very concerned' by reports from Iran that local embassy staff may face trial in connection with demonstrations against last month's presidential election...Date: 03 Jul 2009 10:23:31 ESTBRITISH SERVICES SECTOR HOLDS STEADYThe UK's service sector grew for the second month in a row in June, according to a survey of business activity, allthough the speed of recovery appeared to ease...Date: 03 Jul 2009 10:23:11 ESTBRUSSELS CALL TO BOOST USE OF OTC CENTRAL CLEARINGEurope's top regulator urged more standardisation in the 'over-the-counter' derivatives markets and increased use of central clearing, mirroring similar moves by US authorities to clean up after the worst of the financial crisis...Date: 03 Jul 2009 10:06:36 ESTUK READY TO CO-FUND GM EUROPE SPIN-OFFBritain is ready to provide loans or loan guarantees to finance the spin-off of General Motors' European Opel/Vauxhall arm, UK Business Secretary Peter Mandelson said...Date: 03 Jul 2009 10:06:24 ESTBAXI AGREES €1.7BN MERGER WITH DE DIETRICHBaxi, the UK's leading boilermaker, has agreed a €1.7bn merger with De Dietrich Remeha Group, its smaller Dutch rival, taking the Derby-based company's private equity owner BC Partners closer to needing to raise a new fund...Date: 03 Jul 2009 09:49:24 ESTBEIJING AUTO SUBMITS GM EUROPE OFFERChinese carmaker Beijing Auto has made a non-binding offer for Opel in the third such bid to be received by General Motors...Date: 03 Jul 2009 09:49:07 ESTBRITAIN READY TO CO-FUND GM EUROPE SPIN-OFFBritain is ready to provide loans or loan guarantees to finance the spin-off of General Motors' European Opel/Vauxhall arm, UK Business Secretary Peter Mandelson said...Date: 03 Jul 2009 09:32:25 EST -
TIMES OF LONDON
INDULGE YOUR SELFISHNESS. GO AND HELP SOMEONEMy friend L, for years a magazine editor of sharp tailoring and formidable repute, has been helping out her local hoodies. When introduced to these huge, surly, baseball-capped lunks, her first instinct was to flee. They were Neets — that growing pariah group of kids not...Date: 03 Jul 2009 19:27:26 ESTNEGATIVE EQUITY CAPITAL OF BRITAIN SEEKS A BOOSTOn a scorchingly hot day last week, an office worker was sucking on a cigarette in the shade of a derelict shoe shop in Northampton town centre....Date: 03 Jul 2009 18:54:46 ESTBISCHOFF STEPS BACK INTO THE LINE OF FIRE AS LLOYDS SEEKS LEADERSHIPWhen Sir Win Bischoff was asked to step into the hot seat as chairman of Citigroup in late 2007, he said that he could not give an answer until he had called his wife. With the 68-year-old poised to take on the chairmanship of Lloyds Banking Group, it is unclear whether Rosemary has been consulted a...Date: 03 Jul 2009 18:54:26 ESTPUNCH WINS BACKING FOR SHARE ISSUE — BY THE SKIN OF ITS TEETHPunch Taverns, the pub operator, narrowly avoided an embarrassing setback yesterday when investors voted in favour of its plans for a £375 million share issue — but only just....Date: 03 Jul 2009 18:38:09 ESTINVESTORS LAUNCH BRUISING ATTACK ON TESCO’S MOVE TO MODIFY SHARE PLANTesco suffered a bruising protest at the hands of its investors yesterday when more than 40 per cent of those voting at its annual meeting opposed a controversial plan to modify its share option scheme....Date: 03 Jul 2009 18:37:57 ESTJJB SPORTS PLANS TO TAP SHAREHOLDERS FOR AT LEAST £50M TO FUND TURNAROUND PLANJJB Sports, the sportswear retailer, is planning to raise a significant sum from shareholders in the next four to six weeks, The Times has learnt....Date: 03 Jul 2009 18:37:46 ESTFARM SALES REBOUND, AS RURAL IDYLL RETURNSThey shrank away from the housing market during the worst of the downturn, but signs are emerging that lifestyle buyers have resumed their hunt for a farmhouse in the English countryside....Date: 03 Jul 2009 18:37:35 ESTRECOVERY HOPES ARE BOOSTED AS SERVICES SECTOR PICKS UP MOMENTUMHopes that the economy is firmly on course to emerge from recession were given another boost yesterday when a key survey found renewed expansion in the crucial services sector for a second consecutive month....Date: 03 Jul 2009 18:37:22 ESTDOWNTURN YIELDS RICH PICKINGS FOR LINKLATERSLinklaters revealed record full-year revenue of £1.29 billion on Friday, edging past Freshfields Bruckhaus Deringer as Britain’s highest-grossing law firm. However, pre-tax profit fell by 9 per cent to £513.6 million as Linklaters absorbed millions in restructuring costs....Date: 03 Jul 2009 18:37:10 ESTHOUSEBUILDERS HAVE NOT MADE IT TO SUNLIT UPLANDS YETTwo weeks after Taylor Wimpey talked of “continued stability” in the UK housing market, it is the turn of its peers to report on the strength of the sector’s foundations. Next week, no fewer than five housebuilders will file half-year trading updates, beginning on Tuesday with Persim...Date: 03 Jul 2009 18:36:57 ESTBERNARD MADOFF HIRES HELP TO SURVIVE HARD TIMEBernard Madoff has hired a veteran prison consultant to help him to find the best possible jail in which to serve his 150-year sentence for Wall Street’s biggest fraud....Date: 03 Jul 2009 18:36:44 ESTHOUSING IS TURNING THE CORNERThese are hair-shirt times. Financial gloom is the fashion. No one can publicly admit to seeing the bright side without inviting ridicule and scorn. In January, Baroness Vadera, the Treasury Minister, was derided when she claimed to discern signs of faint green shoots. Since then, public figures hav...Date: 03 Jul 2009 17:11:27 ESTBRITONS PAY OFF RECORD £8.1BN ON MORTGAGESUK homeowners paid back a record £8.1 billion on their mortgages in the first three months of this year, as Britons took advantage of historically low interest rates to pay down debt....Date: 03 Jul 2009 14:39:17 ESTBAXI TO MERGE WITH DUTCH RIVAL AND CREATE HEATING GIANTBaxi, the debt-troubled UK heating products maker, said it had agreed to merge with Dutch rival De Dietrich Remeha to boost its capital position and create one of Europe’s biggest heating products companies....Date: 03 Jul 2009 13:30:19 ESTGOVERNMENT TO UNDERWRITE VAUXHALL DEALLord Mandelson today told workers at a Vauxhall plant that the Government will underwrite a deal to buy out the group from General Motors (GM), its bankrupt parent, and that retaining production facilities in the UK remained a “top priority”....Date: 03 Jul 2009 10:40:46 ESTBA AXES SPENDING BY 20% AS TRAFFIC TUMBLESBritish Airways (BA) today laid bare the depth of its financial problems by announcing plans to axe its annual spending plans by 20 per cent, to ground flights and reduce its capacity forecasts for summer and winter....Date: 03 Jul 2009 10:06:47 ESTBRITONS PAY-OFF RECORD £8.1BN ON MORTGAGESUK homeowners paid back a record £8.1 billion on their mortgages in the first three months of this year, as Britons took advantage of historically low interest rates to pay down debt....Date: 03 Jul 2009 09:16:24 ESTTESCO SUFFERS 41% PROTEST VOTE ON PAY REWARDSTesco investors today gave the supermarket retailer a bloody nose after more than 40 per cent of those voting at its annual meeting in Glasgow opposed proposed changes to its share option scheme....Date: 03 Jul 2009 09:16:03 ESTPUNCH NARROWLY AVOIDS BLOODY NOSEPunch Taverns, the embattled pub operator, narrowly avoided an embarrassing setback today as shareholders voted in favour of its plans for a £375 million share issue - just....Date: 03 Jul 2009 08:41:42 ESTJOHN LEWIS SALES DOWN AS CONSUMERS SUNBATHESales at John Lewis department stores fell by 3.7 per cent last week as warmer weather and sporting events such as Wimbledon kept people out of the shops....Date: 03 Jul 2009 08:41:32 EST -
SKY NEWS
JOBS MISERY FOR GRADUATES IN RECESSIONGraduate job prospects are looking bleak as youth unemployment surges to its highest level for 15 years....Date: 04 Jul 2009 01:19:46 ESTBT STAFF OFFERED YEAR-LONG HOLS FOR PAY CUTSBT employees have been offered the chance of 12 month holidays if they agree to huge pay cuts, the company said....Date: 04 Jul 2009 01:19:38 ESTJOBS MISERY FOR GRADUATES AMID RECESSIONGraduate job prospects are looking bleak as youth unemployment surges to its highest level for 15 years....Date: 03 Jul 2009 20:02:37 ESTGRADUATES 'COULD BE JOBLESS FOR YEARS'A record 270,000 students are expected to join the jobs queue this summer because of the recession, according to a new report....Date: 03 Jul 2009 11:31:49 ESTIT STUDENTS STAY JOBLESS AFTER GRADUATIONThe jobs market is showing little love to IT graduates as they struggle to find work in the economic downturn....Date: 03 Jul 2009 11:31:28 ESTBA HIT AS PREMIUM FLYERS CONTINUE TO FLEEBeleaguered carrier British Airways was hit by a 14.9% drop in first- and business-class passengers in June compared to the same month last year....Date: 03 Jul 2009 10:57:27 ESTTESCO FACES DOWN EXPLOITATION PROTESTSSupermarket chain Tesco has faced down a rebel resolution calling for an end to what protesters called the "exploitation and discrimination" of workers....Date: 03 Jul 2009 09:49:40 ESTPRUDENT BRITS KNOCK £8BN OFF MORTGAGE DEBTBritish homeowners poured a record £8.14bn into paying down their mortgage debt during the first quarter of the year, latest figures show....Date: 03 Jul 2009 07:33:10 ESTMADOFF'S WIFE EVICTED AS PENTHOUSE SEIZEDPolice have seized the £4.2m penthouse of Bernard Madoff, evicting the multi-billion dollar fraudster's wife....Date: 03 Jul 2009 07:00:25 ESTWISPA FANATICS CELEBRATE GOLDEN RETURNChocolate fans who successfully campaigned for the return of Wispa last year have scored another sweet victory with its sister bar, Wispa Gold....Date: 03 Jul 2009 06:26:06 ESTTESCO FACES EXPLOITATION PROTESTS AT AGMProtesters have gathered at Tesco's annual meeting in Glasgow, calling on the chain to end what they call the "exploitation and discrimination" of workers....Date: 03 Jul 2009 05:51:59 ESTGREEDY BANKERS TO BE 'BROUGHT BACK TO EARTH'Alistair Darling has warned bankers they will be "brought back to Earth" if they engage in excessively risky trading....Date: 03 Jul 2009 05:51:48 ESTOIL SPIKE 'ROGUE TRADER' CAUSES £6M LOSSESA London firm was hit with losses of £6m after a suspected rogue trader made a massive, unauthorised bet on the oil market....Date: 03 Jul 2009 04:26:09 ESTDEBT BURDEN LEAVES YOUNG HAVING LESS FUNThe young are not having as much fun as the older generation because they are so much in debt, according to a survey....Date: 03 Jul 2009 03:53:17 ESTWISPA FANATICS CELEBRATE GOLDEN COMEBACKChocolate fans who successfully campaigned for the return of Wispa last year have scored another sweet victory with its sister bar, Wispa Gold....Date: 03 Jul 2009 03:36:05 ESTGAME NEEDS WII FIT TO GET BACK INTO SHAPEA lack of blockbuster releases has sped up a fall in sales at high street entertainment group Game....Date: 03 Jul 2009 02:10:50 ESTBRITISH WORKERS 'TO SKIVE' FOR MURRAY AND SUNTennis sensation Andy Murray's bid to reach the Wimbledon final this afternoon will receive a giant audience - much to the dismay of British bosses....Date: 03 Jul 2009 02:10:37 ESTGOLDEN DAY FOR FACEBOOK'S WISPA FANATICSChocolate fans who successfully campaigned for the return of Wispa last year have scored another sweet victory with its sister bar, Wispa Gold....Date: 03 Jul 2009 02:10:16 ESTUS JOBLESS RATE JUMPS TO NEW 26-YEAR HIGHHopes of a quick turnaround for the US job market have been dashed by the news 467,000 people lost their jobs in June....Date: 02 Jul 2009 09:40:17 ESTCORPORATE FRAUD LOSSES ROCKET TO £960MCorporate fraud has rocketed to almost double the rate seen last year, but experts warn that things will get a lot worse....Date: 02 Jul 2009 07:34:31 EST
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NEW YORK TIMES
BACK TO BUSINESS: FOR BANKS, WADS OF CASH AND LOADS OF TROUBLEOnce flush with cash, Security Bank in Macon, Ga., built a sprawling new headquarters and financed an upscale new neighborhood called the Highlands. As the bank struggles to survive, the office is empty and in need of a tenant, and the Highlands is unfinished....Date: 03 Jul 2009 22:34:36 ESTINTERNET COMPANIES AND AD AGENCIES GO FROM OLD ENEMIES TO NEW FRIENDSThe slowing growth in online advertising is pushing traditional ad agencies and Internet companies to work together....Date: 03 Jul 2009 22:01:32 ESTTHE MEDIA EQUATION: A PUBLISHER STUMBLES PUBLICLY AT THE POSTKatharine Weymouth, publisher of The Washington Post. A plan to hold sponsored salons at her home, and her suggestion that a marketing executive was to blame when the plan fell flat, has drawn criticism....Date: 03 Jul 2009 22:00:58 ESTTALKING BUSINESS: IRE AT MADOFF SWINGS TOWARD THE REFEREEIrving H. Picard, the trustee in charge of the Madoff bankruptcy....Date: 03 Jul 2009 21:09:47 ESTFOR BANKS, WADS OF CASH AND LOADS OF TROUBLEBulk deposits from brokers, known as hot money, fueled growth at smaller banks across the country, but also led some to the brink, and beyond....Date: 03 Jul 2009 21:09:31 ESTFOR AUSTRALIAN WINEMAKERS, MORE TURNS OUT TO BE LESSThe Casella Wines processing plant in Yenda, New South Wales. Casella is the producer of the Yellow Tail brand....Date: 03 Jul 2009 21:09:11 ESTBRITISH STUDY MADOFF PAYMENTS TO AUSTRIAN BANKERProsecutors are investigating reports that companies owned by the banker, Sonja Kohn, received more than $40 million....Date: 03 Jul 2009 20:52:11 ESTEUROPEAN UNION PROPOSES TO POLICE DERIVATIVES TRADINGThe European Commission said moving trades onto exchanges would improve price transparency and strengthen risk management....Date: 03 Jul 2009 20:35:30 ESTEUROPE TESTS BANKS, AND WORRIESGermany and Spain are reluctant to publish the results, but other nations favor releasing an overview of the data....Date: 03 Jul 2009 20:35:11 ESTWINNER OF LUNCH WITH WARREN BUFFETT GETS A WINDFALLA Chinese businessman mentioned a Chinese company ahead of a meeting with Warren Buffett, and watched the shares soar....Date: 03 Jul 2009 20:18:10 ESTBRITISH SCRUTINIZE MADOFF PAYMENTS TO BANKER’S OPERATIONSProsecutors are investigating reports that companies owned by the banker, Sonja Kohn, received more than $40 million....Date: 03 Jul 2009 18:02:30 ESTPATIENT MONEY: FOR A FRUGAL DIETER, WEIGHT LOSS ON A SLIDING SCALE"What matters most is your level of motivation and your willingness to change," says Kelly D. Brownell, a psychologist and director of the Rudd Center for Food Policy and Obesity at Yale....Date: 03 Jul 2009 17:45:34 ESTYOUR MONEY: A DAY TO TACKLE THE FINANCIAL TO-DO LIST...Date: 03 Jul 2009 15:12:56 ESTYOUR MONEY: A DAY OFF TO TACKLE THE FINANCIAL TO-DO LIST...Date: 03 Jul 2009 11:48:17 ESTSHORTCUTS: RAISING CHILDREN WHO CARE IN TIMES THAT NEED ITStudents in Cornell's Leadership in Nonprofit Environments class describe their passion for public service to this year's local grant recipients, seated at right....Date: 03 Jul 2009 10:57:42 ESTPATIENT MONEY: WEIGHT LOSS ON A SLIDING FINANCIAL SCALE"What matters most is your level of motivation and your willingness to change," says Kelly D. Brownell, a psychologist and director of the Rudd Center for Food Policy and Obesity at Yale....Date: 03 Jul 2009 10:41:05 ESTNEIGHBOR’S SHADOW STILL LARGE IN SLOVAKIASlovaks walk past a polling station in northern Slovakia during elections for the European Parliament in June....Date: 03 Jul 2009 09:49:59 ESTA SUBDUED TRADING DAY IN ASIA AND EUROPEThe declines in Asia’s stock markets were more muted than those on Wall Street and in Europe, but they illustrated the same point: That a pullback is in full swing after a three-month rally....Date: 03 Jul 2009 08:24:53 ESTSTOCKS AND BONDS: MARKETS FALL AFTER JOBS REPORTWall Street ended the week with a sharp decline, spurred by the June jobless report. The Dow fell by more than 220 points....Date: 03 Jul 2009 02:27:50 ESTASIAN STOCKS FALL IN SIGN OF PULLBACKThe declines in Asia’s stock markets were more muted than those on Wall Street and in Europe, but they illustrated the same point: That a pullback is in full swing after a three-month rally....Date: 03 Jul 2009 01:03:41 EST -
FORBES
SURE-FIRE DRY WINESThe term ''dry'' means something different to everyone, but these selections fit the literal definition--and deliver on taste as well....Date: 03 Jul 2009 20:19:15 ESTOUT OF WORK IN VEGAS AND THE VIRGIN ISLANDSLas Vegas Sands continues to eliminate jobs in its hometown after opening a Pennsylvania outpost in May....Date: 03 Jul 2009 20:18:58 ESTA LOT OF SARAH PALIN IN THE LOWER 48Sarah Palin will resign at the end of the month, raising speculation that she will run for the White House in 2012....Date: 03 Jul 2009 17:45:50 ESTPALIN RESIGNING AS ALASKA GOVERNORSarah Palin will resign at the end of the month, raising speculation that she will run for the White House in 2012....Date: 03 Jul 2009 16:54:14 ESTCOLLISION COURSEA racing car engineer is trying to produce the world's first commercially viable hydrogen car. He should live so long....Date: 03 Jul 2009 14:22:31 ESTWAITING FOR THE INTERNET AD GENIUSThis will be a great place to profit, once we know where we are....Date: 03 Jul 2009 14:22:17 ESTHOW TO PROTECT YOUR ONLINE REPUTATIONThe Web is a viral breeding ground of rumor and scandal. Here's how to keep your own place on it untarnished....Date: 03 Jul 2009 14:22:06 ESTLESSONS FROM THE BIG SCAMSSuckers are born every minute, which is how Bernie Madoff and other con artists fool enough people to get filthy rich....Date: 03 Jul 2009 14:21:50 ESTU.K. EMBASSY STAFF IN IRAN TO BE TRIEDA top Iranian cleric said some of the detained Iranian staffers of the British Embassy in Tehran will be put on trial....Date: 03 Jul 2009 13:13:32 ESTANATOMY OF A COUPParsing events in Honduras....Date: 03 Jul 2009 10:57:56 ESTWILL CASH FOR CLUNKERS SCHEME WORK?It could provide a temporary boost, but won't likely benefit the Big Three....Date: 03 Jul 2009 06:08:53 ESTBULL MARKET CONFIRMEDAfter a generational bear market, the overriding temptation for most investors is to deny the new bull. Don't miss this one....Date: 03 Jul 2009 06:08:40 ESTCISCO'S CORPORATE SMART GRIDThe networking giant unveils a device for controlling large facilities' energy use....Date: 03 Jul 2009 06:08:26 ESTNYSE AND NASDAQ THINK SMALLTwo big exchanges are courting ever smaller clients. Is this the return of the Amex?...Date: 03 Jul 2009 06:08:09 ESTHOW TO DO A MILLION GOOD DEEDSThree students hope to spark a million good deeds this year, starting with a phone....Date: 03 Jul 2009 03:02:14 ESTHEALTH CARE: COSTS AND REFORMAnd how we stack up against other OECD nations....Date: 03 Jul 2009 01:04:43 EST'WOMENOMICS,' A LABOR MOVEMENT FOR THE ELITEHow we cope with our glamorous lives....Date: 03 Jul 2009 01:04:30 ESTINSIGHTS FROM THOMAS SOWELLWhy the government can't reduce the cost of health care....Date: 03 Jul 2009 01:04:15 ESTTHE COMING TRADE WAR WITH CHINAMore commercial disputes as economies disengage....Date: 03 Jul 2009 01:04:00 ESTTOUGH TIMES FOR MEXICAN IMMIGRANTSHurt disproportionately by job losses, remittances home are plunging....Date: 02 Jul 2009 21:27:21 EST -
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