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Companies Find Opportunities Even In Recession Wed, 16 Dec 2009 00:00:00 -0500 Recessions create opportunities that don't tend to occur when the economy is humming along. One consultant says companies that hit the gas in tough times while others put their brakes on may come out ahead. Vegas Gambles On $8.5 Billion Luxury Project Tue, 15 Dec 2009 17:01:00 -0500 CityCenter, a complex of hotels, condos, a shopping mall and casino, is said to be the most expensive privately funded project in U.S. history. It's launching during difficult times, and it's got no official theme to attract tourists like other Vegas hotels. Its unofficial theme? Urbanism, architecture and art. Deli Uses Dow's Surge To Draw Business Tue, 15 Dec 2009 00:00:00 -0500 At Cucina Deli in Salt Lake City, sales dropped off sharply during the recession. The deli owner had to cut costs, but he also came up with an imaginative promotion to increase revenue — offer free coffee every Monday until the Dow broke the 10,000 mark.
Latest financial news - CNNMoney.com
Obama weighs ordering new debt commission Tue, 15 Dec 2009 19:46:04 -0500 President Barack Obama is seriously considering an executive order to create a bipartisan commission that could weigh sweeping tax increases and spending cuts to try slash the soaring federal deficit, CNN has learned. Wells Fargo stock offering tops $12 billion Tue, 15 Dec 2009 18:53:06 -0500 Wells Fargo said it raised more than $12 billion in a stock sale Tuesday as part of a plan to repay $25 billion in government aid. House to vote on $167 billion in jobs measures Tue, 15 Dec 2009 19:33:17 -0500 The House plans to vote Wednesday on measures totaling about $167 billion that would extend the safety net for the unemployed and spur job creation.
The Financial Page
James Surowiecki: Crisis in the Tiger Woods business. James Surowiecki Sun, 13 Dec 2009 05:00:00 -0000 A recent issue of Forbes features a full-page ad for the consulting firm Accenture with Tiger Woods striding through tall grass. The tagline reads, “The road to high performance isn’t always paved.” To which the obvious rejoinder these days is “Sometimes it runs straight . . . James Surowiecki: Why the Chinese don’t spend. James Surowiecki Mon, 30 Nov 2009 05:00:00 -0000 8220;China makes, the world takes.” For decades, that has been the motto of the Chinese economy, which is built on providing an endless supply of goods for the rest of the world to buy. But these days there’s a palpable sense that this needs to change . . . James Surowiecki: How the tax code encourages debt. James Surowiecki Mon, 16 Nov 2009 05:00:00 -0000 John Kenneth Galbraith wrote that all financial crises are the result of “debt that, in one fashion or another, has become dangerously out of scale.” The recent financial crisis was no exception, with everyone—homeowners, private-equity investors, our biggest banks—taking on enormous amounts of . . .
Reuters: Business News
Rate views rattle markets before Fed Wed, 16 Dec 2009 03:18:04 -0500 HONG KONG (Reuters) - Shifting views on interest rates in 2010 whipsawed markets on Wednesday, with the Australian dollar tumbling as investors scaled back their bets on aggressive rate hikes, while U.S. Treasuries rose before the last Federal Reserve meeting this year.
Fed to keep policy steady despite improving data Wed, 16 Dec 2009 00:28:23 -0500 WASHINGTON (Reuters) - The U.S. Federal Reserve is expected to stick to its super loose monetary policy stance on Wednesday as high unemployment constrains policy-makers' enthusiasm about the economy's recent improvement.
U.S. forgoes billions in tax on Citi: report Tue, 15 Dec 2009 22:18:00 -0500 NEW YORK (Reuters) - The U.S. government "quietly" agreed not to collect billions of dollars in potential taxes from Citigroup Inc as part of its deal to allow the bank to repay its taxpayer bailout, The Washington Post reported.
ABC News: Money
Obama's Influence on Bank Lending Is in Doubt Tue, 15 Dec 2009 09:29:54 -0500 Economists question how much lending the president can convince banks to do.
Business - Bank - Barack Obama - United States - Financial services Top 10: Goldman Sachs' Highest Earners Tue, 15 Dec 2009 14:32:06 -0500 Goldman's top traders and bankers are likely to take home the biggest bonuses.
Goldman Sachs - Business - United States - Financial services - Banking Services Citigroup, Wells Fargo Repay Gov't Bailout Funds Tue, 15 Dec 2009 13:04:13 -0500 Citigroup, Wells Fargo to repay combined $45 billion.
Citigroup - Wells Fargo - Bailout - Business - United States
BBC News | Business | UK Edition
BA goes to court in strike battle Wed, 16 Dec 2009 06:45:38 -0000 British Airways prepares for court as it seeks an injunction to stop a 12-day strike by cabin crew over Christmas. Decision may spell end of cheques Wed, 16 Dec 2009 00:00:52 -0000 A date to end the era of writing a cheque could be set later, when a banking body meets to decide whether to phase them out. Boeing Dreamliner in first flight Tue, 15 Dec 2009 23:39:34 -0000 Boeing's new 787 Dreamliner passenger aircraft successfully completes its first test flight in the US.
The Economist: Business
Schumpeter: Talent on tap Thu, 10 Dec 2009 10:59:11 -0000 The fashion for hiring temps has reached the executive suiteTEMPORARY work is all too familiar to the masses. Farmers have always relied on seasonal workers to plough the fields and pick the crops. Companies have been hiring temps to answer the phones and do the filing for as long as anyone can remember. Now a new group of people are experiencing the joys of the flexible economy: the managerial elite. The practice of appointing interim bosses actually originated in Europe some years ago as a way of coping with the continent’s rigid employment laws. But European companies were always as discreet about the practice as possible. Now the habit has reached the United States, and Americans are doing what they do naturally: shouting about it from the rooftops. No with-it company can be taken seriously without a “flexible boardroom” and a “just-in-time talent pipeline”. ... Magazines take on Amazon: A Hulu for print Thu, 10 Dec 2009 10:59:11 -0000 Magazines attempt to win back control of their digital editionsLET it never again be said that old-media firms are slow to deal with new technology. On December 8th Conde Nast, Hearst, Meredith, News Corporation and Time Inc invested in an as-yet-unnamed venture that will create and sell digital magazines and newspapers for the new generation of e-readers that is likely to succeed Amazon’s monochrome Kindle in the next year or so. It was as if a group of explorers had announced plans to settle a country that had not yet been discovered. Consumers can already get hold of many publications on smart-phones and e-readers. But smart-phones have small screens, and e-readers render magazines as crudely illustrated black-and-white books. They cannot reproduce magazines’ distinctive fonts or elegant graphics. Worse, they are unsuited to advertising, on which most magazines depend. In the year to June, Meredith’s publishing arm, which produces Better Homes and Gardens among dozens of other titles, made almost twice as much from advertising as it did from newsstand sales and subscriptions. ... New strategies at AOL and Yahoo!: Back into the fray Thu, 10 Dec 2009 10:59:11 -0000 Two fallen internet titans are trying to regain their footing“THEY never come back” may be an ironclad law of boxing, but AOL and Yahoo! are trying to prove that it does not apply to lumbering online giants. On December 9th Time Warner span off AOL, undoing a famously ill-conceived merger. A couple of days earlier Yahoo! and Microsoft finalised an agreement to merge their web-search and much of their advertising businesses, freeing Yahoo! to hone a new strategy. Peculiarly, both firms’ comeback plans hinge on giving away content to attract traffic and thus advertising—an online strategy that has disappointed many media companies.AOL and Yahoo! came of age a decade ago in different corners of the internet: one as the biggest provider of dial-up access, the other as the leading web directory. Both soon turned into “portals” providing both content and communications tools, such as web-mail and instant messaging. More recently, both have drifted while the internet evolved around them. A series of weak bosses failed to do away with fiefs, professionalise management and keep the brands fresh, even as competition—from broadband in the case of AOL, and from rivals such as Google and Facebook for Yahoo!—ate into revenues. ...
Business News - UPI.com
China plans huge nuclear power expansion Wed, 16 Dec 2009 00:11:00 -0500 BEIJING, Dec. 16 (UPI) -- China, under pressure to cut gas emissions, plans a huge expansion of its nuclear power program in coming decades by adding about 10 new plants annually. EU cuts deal to end 'banana wars' Tue, 15 Dec 2009 20:05:33 -0500 GENEVA, Switzerland, Dec. 15 (UPI) -- The banana wars between Europe and Latin America came to an end Tuesday when the European Union said it would cut tariffs on the tropical fruit, officials said. Grain futures mixed Tuesday Tue, 15 Dec 2009 18:52:39 -0500 CHICAGO, Dec. 15 (UPI) -- Grain futures closed mixed on the Chicago Board of Trade Tuesday as the dollar rose against the euro and the yen. UPI NewsTrack Business Tue, 15 Dec 2009 18:41:49 -0500 U.S. markets lackluster Tuesday ... Dreamliner debuts to cheers and a gray sky ... Canada bankruptcies decline at record pace ... Confidence and benefits back at Ford ... News from United Press International. Helinet establishes new unit Tue, 15 Dec 2009 18:41:05 -0500 LOS ANGELES, Dec. 15 (UPI) -- U.S. company Helinet Aviation Services has established a specialized unit designed to consolidate its aerial surveillance services. Crude oil prices back above $70 per barrel Tue, 15 Dec 2009 18:40:53 -0500 NEW YORK, Dec. 15 (UPI) -- Crude oil prices climbed above $70 per barrel Tuesday on the New York Mercantile Exchange after nine days of declines.
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