Prices for Imports to U.S. Fall Again
September 14, 2011 in Asia Pacific Business News
The cost of oil and food dropped, while autos stabilized, the Labor Department said.
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Moody’s cuts SocGen and CreditAgricole (Reuters)
September 14, 2011 in Asia Pacific Business News
, Sep. 14, 2011 (Reuters) -- Moody's Investors Service on Wednesday downgraded two of France's top banks, Societe Generale and Credit Agricole, in a new blow to efforts by European policymakers to restore market confidence in the region. ... > read full story
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Asia corporate sentiment slides on global worries (Reuters)
September 14, 2011 in Asia Pacific Business News
TOKYO/MELBOURNE, Sep. 14, 2011 (Reuters) -- Sentiment at Asia's top companies fell in the third quarter, hitting its lowest level since the fourth quarter of 2009 as doubts about the strength of the global economy weighed, a Reuters survey showed. ... > read full story
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India set for fresh rate hike to fight inflation
September 14, 2011 in Asia Pacific Business News
MUMBAI: India's central bank is widely expected to raise interest rates for the 12th time in a year-and-a-half when it meets on Friday, as it seeks to rein in stubbornly high inflation, economists said.
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India inflation rises, stokes rate hike pressure
September 14, 2011 in Asia Pacific Business News
NEW DELHI : Indian inflation rose closer to double-digits in August, official figures showed Wednesday, piling pressure on the central bank to hike interest rates again despite a slowing economy.
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Square Feet: Schrager Makes Over a Legendary Chicago Hotel
September 14, 2011 in Asia Pacific Business News
Ian Schrager will open his first new project since the 2008 downturn, the Ambassador East Hotel, now called the Public.
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Advertising: Luxury Hotels Market the Memories – Advertising
September 14, 2011 in Asia Pacific Business News
To attract the wealthy, including the likes of 29-year-old investment bankers, luxury hotels are promoting experiences they can create.
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G.M. Looks to Shepherd U.A.W. Pact
September 14, 2011 in Asia Pacific Business News
With the strongest balance sheet of Detroit?s Big Three, G.M. is in position to set the direction of the contract with autoworkers.
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Wall Street Banks Bracing for Drop in Trading Revenue
September 14, 2011 in Asia Pacific Business News
In a bellwether for other large financial firms, JPMorgan Chase warned that third-quarter trading revenue was likely to fall about 8 percent from a year ago.
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Square Feet: Industrial Real Estate Is Attracting Investors and Builders
September 14, 2011 in Asia Pacific Business News
Investors and developers are buying and building big industrial sites, armed with data showing declining vacancy rates.
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James Murdoch to Be Called Before Parliament Again
September 14, 2011 in Asia Pacific Business News
A parliamentary panel investigating the phone hacking scandal said that it would recall James Murdoch to answer more questions about his knowledge of hacking at his father?s media empire.
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John Calley, Hollywood Chief, Dies at 81
September 14, 2011 in Asia Pacific Business News
Mr. Calley rose to Hollywood?s highest ranks not by slashing and burning but by making gut-level bets on directors and writers, and by gently and quietly steering them.
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Australia consumer confidence jumps
September 14, 2011 in Asia Pacific Business News
SYDNEY: Australian consumer confidence has clocked a surprise rise as interest rates stayed on hold, data showed on Wednesday, but pessimism was still rife due to global woes and growing domestic weakness.
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Wal-Mart aims to do more work with women (Reuters)
September 14, 2011 in Asia Pacific Business News
CHICAGO, Sep. 14, 2011 (Reuters) -- Wal-Mart Stores Inc will double the money it spends with women-owned businesses, train women around the world and push major suppliers to use more women and minorities on work they do for the retailer as it keeps trying to shed a poor corporate image. ... > read full story
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BOJ Miyao: Japan may get less support from overseas demand (Reuters)
September 14, 2011 in Asia Pacific Business News
HAKODATE, Japan, Sep. 13, 2011 (Reuters) -- Bank of Japan board member Ryuzo Miyao said on Wednesday the country's economy may get less support than initially expected from overseas demand as the recovery in the U.S. and European economies loses steam. ... > read full story
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Asian shares mixed as bargain hunters move in
September 14, 2011 in Asia Pacific Business News
HONG KONG: Asian markets were mixed in early trade on Wednesday as bargain-hunting in the wake of a big sell-off earlier in the week was capped by lingering concerns over Greece's sovereign debt.
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Yahoo board to meet on Wednesday to review options: source (Reuters)
September 14, 2011 in Asia Pacific Business News
San Francisco, Sep. 13, 2011 (Reuters) -- Yahoo's <YHOO.O> board will meet on Wednesday to discuss a wide range of options facing the troubled Internet firm, including the search for a new chief executive, a source with knowledge of the situation told Reuters. ... > read full story
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Wall Street Rises as Bank Fears Ease in France
September 14, 2011 in Asia Pacific Business News
All 10 main industries in the S.& P. 500 advanced, and gains were led by industrial, raw material and technology companies.
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China can make ‘new contribution’ to global growth
September 14, 2011 in Asia Pacific Business News
DALIAN, China: China's Premier Wen Jiabao said on Wednesday his country's expanding economy could contribute further to global growth, and pledged to expand its investment in Europe.
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Kmart’s Web Series Stars Product Placement
September 14, 2011 in Asia Pacific Business News
The Web-series "First Day," funded entirely by Kmart, may seem like a typical show for teenage girls. But the cast competes with the wardrobe--all of it from the big-box store--for top billing. WSJ's Sam Schechner reports from Burbank.
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China’s “Hooha” Workout
September 14, 2011 in Asia Pacific Business News
China has a new version of its official workout intended to make exercise easy for white-collar workers. WSJ's Angela Yeoh reports on the "Hooha" from Beijing.
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China’s ‘Hoohah’ Workout
September 14, 2011 in Asia Pacific Business News
China has a new version of its official workout intended to make exercise easy for white-collar workers. WSJ's Angela Yeoh reports on the "Hoohah" from Beijing.
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Developing Asia’s growth to slow
September 14, 2011 in Asia Pacific Business News
HONG KONG : Asia's developing economies will post slower-than-expected growth this year and next as key trading partners reduce orders due to worries about the global economy, a report said on Wednesday.
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ADB trims Asia growth outlook, warns on inflation, flows (Reuters)
September 14, 2011 in Asia Pacific Business News
MANILA, Sep. 13, 2011 (Reuters) -- The Asian Development Bank trimmed most of its 2011 and 2012 growth forecasts for the region while noting that Asia's emerging economies are showing resilience in the face of the darkening global environment. ... > read full story
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BNY Mellon forex trades cost pensions: report (Reuters)
September 14, 2011 in Asia Pacific Business News
, Sep. 13, 2011 (Reuters) -- Bank of New York Mellon Corp <BK.N> executed some currency transactions for two large public pension funds in a way that could trigger higher costs and boost its profit, the Wall Street Journal showed in an analysis. ... > read full story
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Japan mulls 4th extra budget of 1-2 trillion yen: report (Reuters)
September 14, 2011 in Asia Pacific Business News
TOKYO, Sep. 13, 2011 (Reuters) -- The Japanese government is considering compiling a fourth extra budget for the fiscal year to March of about 1 to 2 trillion yen ($13-26 billion) to fund additional economic steps without issuing new bonds, the Yomiuri newspaper reported on Wednesday. ... > read full story
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DealBook: Bruce Kovner, Founder of Caxton, to Step Down
September 14, 2011 in Asia Pacific Business News
Bruce Kovner, a pioneer of the hedge fund industry and a founder of Caxton Associates, will hand the reins to his chief investment officer in a largely expected but rare industry succession.
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Thailand preps liquid three-year bond market, say RBS
September 14, 2011 in Asia Pacific Business News
The country is planning a large volume increase in debt issuance in the next 12 months that could potentially kick off a liquid three-year market, RBS expects.
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Opinion: China should buy Italy & Spain’s bonds
September 14, 2011 in Asia Pacific Business News
The most appealing investment options thrown up for Beijing from the eurozone sovereign debt crisis lie not in Greece and Portugal but Italy and Spain.
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Emerging market flows buttress Japan against volatility
September 14, 2011 in Asia Pacific Business News
A flight to safety of capital by emerging economies is keeping the country?s interest rates down, despite its huge debt burden, according to Bank of America-Merrill Lynch.
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Aussie banks can sign up to Basel III early: Moody?s
September 14, 2011 in Asia Pacific Business News
The country?s lenders will cope with an aggressive timetable for Basel III implementation, Moody?s rating agency believes. This is good news as many depend on wholesale funding.
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China banks to seek assets from indebted western peers
September 14, 2011 in Asia Pacific Business News
CCBI believes that Chinese banks could lead emerging lenders into buying assets from heavily leveraged western lenders so the latter can reduce their leverage.
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Gulf borrowers to fuel Malaysian sukuk: Emirates NBD
September 14, 2011 in Asia Pacific Business News
The Dubai-based bank believes more Gulf-based borrowers will conduct ringgit-denominated sukuk deals this year, fueling the growth of the Malaysian market.
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Toyota’s US production returns to normal after quake
September 13, 2011 in Asia Pacific Business News
CHICAGO: Toyota said on Tuesday it had fully restored its US production following parts shortages caused by the devastating earthquake and tsunami that struck Japan six months ago.
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10 Years Ago, Enron Scandal Changed Wall Street
September 13, 2011 in Asia Pacific Business News
Enron's collapse in late 2001 changed the way investors looked at stock recommendations and at corporate executives, according to MarketWatch's Mark Hulbert, who says many analysts had buy or hold ratings till the very end. Laura Mandaro reports. Image courtesy of AP.
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Economix Blog: Bruce Bartlett: How to Raise Revenue Without Violating the Tax Pledge
September 13, 2011 in Asia Pacific Business News
Opportunities abound for the government to raise revenue without raising taxes, an economist writes.
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The Caucus: Notable Entry in Massachusetts Senate Race
September 13, 2011 in Asia Pacific Business News
Elizabeth Warren is entering the race for what will probably be a high-profile race against Senator Scott Brown.
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What Should Be Done to Combat Rising Poverty Rate?
September 13, 2011 in Asia Pacific Business News
The poverty rate clicked up again this year. WSJ's David Wessel, DJ Newswires' Neal Lipschutz and MarketWatch's David Callaway discuss on The News Hub whether the government needs to intervene to the rising number of Americans affected.
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Boston Scientific taps J&J executive as its next CEO (Reuters)
September 13, 2011 in Asia Pacific Business News
, Sep. 13, 2011 (Reuters) -- Boston Scientific Corp <BSX.N> named Johnson & Johnson <JNJ.N> executive Michael Mahoney as its new president and chief executive, replacing Ray Elliott, who announced in May he intended to step down. ... > read full story
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Fed set to give economy therapy, not shock treatment (Reuters)
September 13, 2011 in Asia Pacific Business News
WASHINGTON, Sep. 13, 2011 (Reuters) -- The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery. ... > read full story
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Working for Less: In Detroit, Two Wage Levels Are the New Way of Work
September 13, 2011 in Asia Pacific Business News
Once viewed as a desperate move, a two-tier wage system for longtime employees and new hires is being seen as important to Detroit?s future.
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Bits Blog: Google Introduces Long-Awaited Flight Search
September 13, 2011 in Asia Pacific Business News
Google introduced a tool for searching flights, using software acquired in its acquisition of ITA.
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Euro holds steady despite Greek doubts
September 13, 2011 in Asia Pacific Business News
NEW YORK: The euro held its ground on Tuesday, after being badly shaken in recent days by a spate of negative headlines that suggested Europe's debt crisis might be spinning out of control.
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Who Is Ted Weschler, Buffett’s Newest Recruit?
September 13, 2011 in Asia Pacific Business News
Who exactly is Ted Weschler, Warren Buffett's newest recruit? And how has he achieved the stellar investment returns that endeared him to the Sage of Omaha? Jason Zweig has details on The News Hub
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California Lawmakers Say Accounts Were Looted
September 13, 2011 in Asia Pacific Business News
The reach of an alleged fraud scheme widened as more California Democrats, including Sen. Dianne Feinstein, said their war chests had been raided by a prominent campaign treasurer. Tammy Audi has details from Los Angeles on The News Hub.
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Auto Makers’ Labor Talks Bump Against Deadline
September 13, 2011 in Asia Pacific Business News
Contract talks between the three Detroit auto makers and the UAW come down to the wire, with GM appearing closest to a deal. The current contracts expire on Wednesday. Matthew Dolan has details from Detroit on The News Hub.
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GE to buy back Buffett’s financial crisis stake (Reuters)
September 13, 2011 in Asia Pacific Business News
, Sep. 13, 2011 (Reuters) -- General Electric Co <GE.N> said on Tuesday it would buy back Berkshire Hathaway Inc's <BRKa.N> preferred stake in the largest U.S. conglomerate, handing back a lifeline it grabbed during the 2008 financial crisis. ... > read full story
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Intel teams with Google on smartphone chips
September 13, 2011 in Asia Pacific Business News
SAN FRANCISCO: Intel on Tuesday announced that it has teamed with Google to tailor chips to get top performance out of smartphones powered by the Internet giant's Android software.
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US stocks gain ahead of new talks on Greece
September 13, 2011 in Asia Pacific Business News
NEW YORK: US stocks posted healthy gains on Tuesday after a volatile day of trading driven by more twists and turns in Europe's sovereign debt crisis.
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Fidelity replaces Lange at Magellan Fund (Reuters)
September 13, 2011 in Asia Pacific Business News
BOSTON, Sep. 13, 2011 (Reuters) -- Fidelity Investments replaced Harry Lange on Tuesday as portfolio manager of its famed Magellan Fund after years of underperformance at the one-time flagship. ... > read full story
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On the Mark: Rick Perry is a Good Thing!
September 13, 2011 in Asia Pacific Business News
Mean Street host Evan Newmark explains why Republican Texas governor Rick Perry might be an attractive candidate among the group running for president on the GOP side. Photo: REUTERS/Scott Audette
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DealBook: Elizabeth Warren to Launch Senate Bid
September 13, 2011 in Asia Pacific Business News
Elizabeth Warren will challenge Scott Brown, a freshman Republican senator, for his Massachusetts seat, according to The Boston Globe.
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Republicans close ranks against Obama’s jobs plan
September 13, 2011 in Asia Pacific Business News
WASHINGTON: President Barack Obama's top Republican foes in the US Congress closed ranks on Tuesday to assail his $447 billion jobs plan, as startling new figures painted a bleak picture of US economic woes.
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Whose Banks are Better…China’s or U.S.’s?
September 13, 2011 in Asia Pacific Business News
MarketWatch columnist David Weidner make a stop on Mean Street to make the case that the U.S. banking industry should be a lot more like China's. Photo: REUTERS/David Gray/Files
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Oil prices mixed as IEA cuts demand forecast
September 13, 2011 in Asia Pacific Business News
NEW YORK: Oil prices were mixed on Tuesday as traders digested the International Energy Agency's downgrade on global energy demand and expected the weekly US stockpiles report to show a sharp fall in crude oil.
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Best Buy Profits Down 30%. Cash Cushion Drying Up?
September 13, 2011 in Asia Pacific Business News
WSJ's John Jannarone profiles Best Buy's cash flow in the face of the company's profits dropping 30% and the stock taking a roughly 25% hit. (Photo by Kevork Djansezian/Getty Images)
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Under Obama, Muni Bonds About to Be Hit with Taxes
September 13, 2011 in Asia Pacific Business News
Barrons.com editor in chief Randy Forsyth points out President Obama's proposed jobs plan will likely mean higher taxes for those investors holding municipal bonds. AFP PHOTO/Mandel NGAN
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CME CFO visited several states to talk relocation (Reuters)
September 13, 2011 in Asia Pacific Business News
, Sep. 13, 2011 (Reuters) -- CME Group Inc <CME.O>, whose roots in Chicago date to 1848, is serious about leaving Illinois to avoid high state taxes on business at its three futures exchanges, its chief financial officer said on Tuesday. ... > read full story
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Obama’s Jobs Plan = Higher Taxes. Be Ready.
September 13, 2011 in Asia Pacific Business News
President Obama's jobs plan will hit muni bond holders with higher taxes. Is Best Buy's move to online shopping enough for a turnaround? How banking in China has lessons the U.S. could learn from. Plus, why Rick Perry is a good thing.
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US approves rule on bank bankruptcy plans
September 13, 2011 in Asia Pacific Business News
WASHINGTON: US regulators on Tuesday approved a rule requiring 37 large US and foreign financial institutions to submit plans to allow for their orderly dismantlement in case of bankruptcy.
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Media Decoder Blog: Times Names Sifton National Editor and Bryant Features Editor
September 13, 2011 in Asia Pacific Business News
The appointments follow a rapid series of management changes under the new leadership of Jill Abramson and Dean Baquet.
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Fiat-Chrysler CEO: euro system could derail (Reuters)
September 13, 2011 in Asia Pacific Business News
FRANKFURT, Sep. 13, 2011 (Reuters) -- The euro single-currency system could be derailed unless European leaders resolve the debt crisis, a situation that has already prompted Fiat SpA <FIA.MI> and its affiliate Chrysler Group LLC to examine the timing of vehicle introductions, Fiat's CEO said on Tuesday. ... > read full story
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Bucks Blog: Deadline Extended for Mortgage Help
September 13, 2011 in Asia Pacific Business News
The deadline for federal emergency home loan help has been extended to Sept. 15.
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TCW, Gundlach court drama begins closing arguments (Reuters)
September 13, 2011 in Asia Pacific Business News
LOS ANGELES, Sep. 13, 2011 (Reuters) -- Trust Company of the West plotted to fire its star bond fund manager Jeffrey Gundlach before he and his inner circle ever began downloading information, Gundlach's lawyer told jurors. ... > read full story
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Airlines cite solid demand despite iffy economy (Reuters)
September 13, 2011 in Asia Pacific Business News
, Sep. 13, 2011 (Reuters) -- U.S. airlines may face a challenging outlook for the rest of the year, but strong travel demand and fourth-quarter capacity cuts are ensuring that airlines fly full airplanes, executives said on Tuesday, and their shares rose sharply. ... > read full story
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At Frankfurt Show, German Auto Firms Hope to Rise Above the Gloom
September 13, 2011 in Asia Pacific Business News
Even as BMW, Mercedes, Volkswagen and others boast of new sales records and roll out new models, car executives are worried about the euro crisis.
by rushabh
Investors Reducing Exposure to French Banks
September 13, 2011 in Asia Pacific Business News
Money market funds have gradually grown wary of French banks, looking for safer places to park their cash.
by rushabh
Call It the Amazon Effect: Best Buy Net Drops 30%
September 13, 2011 in Asia Pacific Business News
Best Buy said its profit fell 30% and projected lower earnings for the current fiscal year as the electronics retailer continues to battle a weak economy and strong competition.
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Greenspan urges tax reform in debt cut effort (Reuters)
September 13, 2011 in Asia Pacific Business News
WASHINGTON, Sep. 13, 2011 (Reuters) -- Former Federal Reserve Chairman Alan Greenspan called for tax reform to be part of an urgent effort to put the U.S. economy back on track. ... > read full story
by rushabh
Zite CEO on Why He Sold to CNN for $20 Million
September 13, 2011 in Asia Pacific Business News
Zite, maker of an iPad app that aggregates personalized content, was recently acquired by CNN for $20 million. Zite CEO Mark Johnson joins digits to discuss why he sold and what the future of Zite is within a giant media company.
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New Medical-Billing System Provides Precision
September 13, 2011 in Asia Pacific Business News
Health insurers, doctors and hospitals are bracing for chaos as they prepare to adopt a new federally mandated format for medical billing. Anna Wilde Mathews has details on Lunch Break.
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Morgan Stanley economist hire may change firm’s outlook (Reuters)
September 13, 2011 in Asia Pacific Business News
, Sep. 13, 2011 (Reuters) -- Morgan Stanley's <MS.N> new choice for chief U.S. economist on Tuesday said lower U.S. growth and higher unemployment could last well into this decade, marking a shift away from the bank's recent outlooks. ... > read full story
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Nasdaq OMX eyes more share buybacks: CEO (Reuters)
September 13, 2011 in Asia Pacific Business News
, Sep. 13, 2011 (Reuters) -- Nasdaq OMX Group Inc <NDAQ.O> will reach a targeted 2.5-times leverage ratio earlier than expected and at the end of the third quarter will set a capital plan likely to include share buybacks, its chief executive said. ... > read full story
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Cisco’s CEO says customers still spending (Reuters)
September 13, 2011 in Asia Pacific Business News
SAN FRANCISCO/NEW YORK, Sep. 13, 2011 (Reuters) -- Cisco Systems Inc <CSCO.O> CEO John Chambers said he remained upbeat about technology spending by customers on Tuesday despite an uncertain economic outlook. ... > read full story
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Venture capital veteran Perkins sees danger ahead (Reuters)
September 13, 2011 in Asia Pacific Business News
SAN FRANCISCO, Sep. 13, 2011 (Reuters) -- Tom Perkins, co-founder of Kleiner Perkins and the backer of companies ranging from Genentech to Google, believes much of the venture-capital industry has set itself up for failure. ... > read full story
by rushabh
Room For Debate: A Europe Divided?
September 13, 2011 in Asia Pacific Business News
The euro was supposed to unify Europe. Is it only magnifying the north-south cultural differences instead?
by rushabh
Emerging nations to discuss aid to Europe
September 13, 2011 in Asia Pacific Business News
BRASILIA: Emerging economies which make up the BRICS group will discuss possible aid to the European Union to help it confront its debt crisis, Brazilian Finance Minister Guido Mantega said Tuesday.
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Geithner to urge bigger EFSF, rapid action: source (Reuters)
September 13, 2011 in Asia Pacific Business News
BRUSSELS, Sep. 13, 2011 (Reuters) -- Treasury Secretary Timothy Geithner is likely to urge euro zone finance ministers on Friday to speed up ratification of changes to their bailout fund and consider boosting its size, an EU source said on Tuesday. ... > read full story
by rushabh
You?re the Boss Blog: What the President’s Job Plan Means to My Business
September 13, 2011 in Asia Pacific Business News
If my business has a problem it's not with taxes or regulation. It is that I don't have enough customers who have money to spend.
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JPMorgan Q3 trading revenue on track to fall 30 percent (Reuters)
September 13, 2011 in Asia Pacific Business News
NEW YORK, Sep. 13, 2011 (Reuters) -- JPMorgan Chase & Co's trading revenue is on track to fall 30 percent this quarter from the second quarter, the bank's investment banking head said on Tuesday. ... > read full story
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MB-No-Way: Business School Applications Down
September 13, 2011 in Asia Pacific Business News
Applications for two-year, full-time M.B.A. programs that start this fall dropped an average of 9.9% from a year earlier, Francesca Donner reports on Markets Hub. (Photo: Reuters.)
by rushabh
Overseas Banks Want ‘Living-Will’ Exemption
September 13, 2011 in Asia Pacific Business News
Foreign banks with a small U.S. presence are pushing for exemption from new rules that would require them to submit "living wills" to U.S. regulators outlining how they would be liquidated in the event of a failure, Susan Kapner reports on Markets Hub. (Photo: AP.)
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Investors Nervously Eyeing China’s Economic Future
September 13, 2011 in Asia Pacific Business News
WSJ's Tom Orlik addresses the possibility of China coming to the aid of cash-strapped Euro zone countries. Also, he looks at economic lessons China might learn from other countries. Photo: AFP/ Getty Images.
by rushabh
Bucks Blog: How Rebalancing Takes Emotion Out of Investing
September 13, 2011 in Asia Pacific Business News
Forget what it may (or may not) do to your returns. Rebalancing a portfolio is about reinforcing good investor behavior.
by rushabh
Kleenex hopes cooling tissue will heat up sales (Reuters)
September 13, 2011 in Asia Pacific Business News
CHICAGO, Sep. 13, 2011 (Reuters) -- Kleenex is hoping that consumers will pay significantly more per tissue to soothe their noses with coconut oil, aloe extract and ingredients often used in anti-aging creams. ... > read full story
by rushabh
Car industry urges bold action over euro debt (Reuters)
September 13, 2011 in Asia Pacific Business News
FRANKFURT, Sep. 13, 2011 (Reuters) -- Car industry executives from around the globe urged Europe's politicians to take bolder steps to solve the bloc's two-year-old debt crisis, warning its single currency could be derailed without more decisive action. ... > read full story
by rushabh
Euro Rumors Steering an Already Nervous Market
September 13, 2011 in Asia Pacific Business News
WSJ's Paul Vigna previews the day on Wall Street, including how traders are reacting to news ad rumors tied to the Euro zone economies. Photo: AFP PHOTO/Mira OBERMAN
by rushabh
James Murdoch to Testify Again Before Parliament
September 13, 2011 in Asia Pacific Business News
WSJ's Bruce Orwall reports British Parliament has recalled News Corp's. James Murdoch and has tapped former Dow Jones chief executive Les Hiinton to testify on the company's phone-hacking scandal. Photo: REUTERS/Parbul TV via Reuters Tv
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France, Germany deny new debt plan
September 13, 2011 in Asia Pacific Business News
PARIS : France and Germany on Tuesday denied they were readying another plan to avert a Greek debt default, after rumours that they were planning a move sent French stocks bouncing back after early falls.
by rushabh
Northern Trust: No extra fees on cash deposits (Reuters)
September 13, 2011 in Asia Pacific Business News
NEW YORK, Sep. 13, 2011 (Reuters) -- A top executive with Northern Trust Corp <NTRS.O> said the custodian bank will not impose an additional fee on institutional clients who significantly increase their cash holdings. ... > read full story
by rushabh
DealBook: Outsiders’ Ideas Help Bank of America Cut Jobs and Costs
September 13, 2011 in Asia Pacific Business News
Bank of America relied on a team of consultants to come up with plans to eliminate 30,000 jobs and cut annual costs by $5 billion.
by rushabh
August import prices fall 0.4 percent on petroleum (Reuters)
September 13, 2011 in Asia Pacific Business News
WASHINGTON, Sep. 13, 2011 (Reuters) -- Import prices fell in August due to lower fuel, food and industrial material costs, a government report showed on Tuesday. ... > read full story
by rushabh
DealBook Column: I.M.F. Chief’s Change of Tune on Bank Capital
September 13, 2011 in Asia Pacific Business News
The head of the International Monetary Fund may have tried to play down the need for French banks to raise capital when she was a politician.
by rushabh
Best Buy profit falls on weak TV demand (Reuters)
September 13, 2011 in Asia Pacific Business News
NEW YORK, Sep. 13, 2011 (Reuters) -- Best Buy Co Inc <BBY.N> reported on Tuesday a lower quarterly profit on weak demand for televisions and video game products. ... > read full story
by rushabh
Asian markets end mixed on eurozone fears
September 13, 2011 in Asia Pacific Business News
HONG KONG - Asian markets ended mixed on Tuesday as optimism over reports that China was in talks to buy huge amounts of Italian bonds was outweighed by ongoing concerns about the wider eurozone debt crisis.
by rushabh
Debt Fears Rattle Big Banks in France
September 13, 2011 in Asia Pacific Business News
Concern about the banks? ability to handle a Greek default caused shares to slide and raised the possibility that the government would need to intervene.
by rushabh
401(k) break at risk as policymakers mull retirement shift (Reuters)
September 13, 2011 in Asia Pacific Business News
WASHINGTON, Sep. 13, 2011 (Reuters) -- U.S. retirement programs could look different if a grand deficit-cutting bargain is struck in upcoming negotiations. ... > read full story
by rushabh
German Leader Faces Key Choices on Rescuing Euro
September 13, 2011 in Asia Pacific Business News
Angela Merkel faces far-reaching decisions about how to deal definitively with the debt crisis in Europe and whether to allow Greece to default.
by rushabh
Fiat CEO says euro system could go “off the rails” (Reuters)
September 13, 2011 in Asia Pacific Business News
FRANKFURT, Sep. 13, 2011 (Reuters) -- Fiat <FIA.MI> chief executive Sergio Marchionne said the euro single currency system could "go off the rails" unless European leaders effectively resolve the current debt crisis. ... > read full story
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Analysis: Trading bonanza masks perils for exchanges (Reuters)
September 13, 2011 in Asia Pacific Business News
LONDON, Sep. 13, 2011 (Reuters) -- Frantic trading as Europe struggles with its debt crisis is providing a brief shot in the arm for stock exchanges, but won't immunize their hefty valuations from fierce competition when the volumes abate. ... > read full story
