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Business News
for 11/09/2009

(last updated 7:30am EST 11/09/2009)

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• European Shares Up in Early Trading European Shares Up in Early Trading
11/09/2009
The M.S.C.I. world equity index rose 0.8 percent in early London trade, while European shares were up 1.2 percent. (1 h ago)

• Publisher in Portugal Picks a Fine Time ... Publisher in Portugal Picks a Fine Time to Start a Newspaper
11/09/2009
Martim Avillez Figueiredo, the editor of i, short for “informação,” has organized his paper with opinion pieces first and all the best news in the front. (1 h ago)

• Taiwan Firm Positioned for E-Reader Take... Taiwan Firm Positioned for E-Reader Takeoff
11/09/2009
Prime View International already produces displays for the most popular e-readers. By the end of the year, it will own the company that produces the “ink” for them. (1 h ago)

• China Pledges $10 Billion to Africa China Pledges $10 Billion to Africa
11/09/2009
China offered African governments a multibillion-dollar package of financial and technical assistance. (1 h ago)

• Northrop Agrees to Sell TASC Consulting ... Northrop Agrees to Sell TASC Consulting Unit
11/09/2009
The sale of the TASC unit for $1.65 billion in cash is another sign that private equity firms are back to their core business of deal-making. (1 h ago)

• Intense Review Is Expected for NBC Deal Intense Review Is Expected for NBC Deal
11/09/2009
Comcast’s plan to gain control of NBC Universal, which is expected to be announced soon, is likely to be the first major test of the Obama administration’s media regulators. (1 h ago)

• AXA Asia-Pacific Rejects $10.2 Billion B... AXA Asia-Pacific Rejects $10.2 Billion Breakup Plan
11/09/2009
The proposal would have left the Australian insurer's Asian assets with its French parent, AXA, and its Australian assets with its rival AMP. (1 h ago)

• Samuel Heyman, a Corporate Raider, Dies ... Samuel Heyman, a Corporate Raider, Dies at 70
11/09/2009
Mr. Heyman stood out as a corporate raider who preferred to hold on to companies he bought and run them rather that sell them for a quick profit. (1 h ago)

• Confusion on Where Money Lent via Kiva G... Confusion on Where Money Lent via Kiva Goes
11/09/2009
Kiva’s home page once promoted lending “to a specific entrepreneur,” but the fine print shows that members’ $25 checks go to microfinance organizations, not individuals. (1 h ago)

• On Fox, a Week of Playing ‘Where’s Homer... On Fox, a Week of Playing ‘Where’s Homer?’
11/09/2009
For the next week, all of Fox’s prime-time shows will include hidden tributes to “The Simpsons.” (1 h ago)

• Mass-Market Magazines Show Improved Ad S... Mass-Market Magazines Show Improved Ad Sales
11/09/2009
Food ads from brands like Heinz and Hellmann’s at a time when more people are cooking at home are a big reason for increased ad sales. (1 h ago)

• Advertising: A Stratocaster for Max, and... Advertising: A Stratocaster for Max, and Other Mad Men Stories
11/09/2009
A Wal-Mart executive describes how people go hungry when they run out of money at the end of the month, and what the chain is doing about it. (1 h ago)

• Indian Leader Forecasts Growth Indian Leader Forecasts Growth
11/09/2009
Prime Minister Manmohan Singh pledged Sunday to spend more on health care and education and make it easier for foreign investors to take part in India’s $1.2 trillion economy. (1 h ago)

• Kraft’s Hostile Bid for Cadbury Expected... Kraft’s Hostile Bid for Cadbury Expected
11/09/2009
The company is expected to officially begin its bid to create an international food giant after more than two months of posturing. (1 h ago)

• Link by Link: Refining the Twitter Explo... Link by Link: Refining the Twitter Explosion
11/09/2009
There is way too much information — the number of tweets a day rose to 26 million a day in October from 2.4 million in January. (1 h ago)

• Economists Seek to Fix a Defect in Data ... Economists Seek to Fix a Defect in Data That Overstates the Nation’s Vigor
11/09/2009
The shortcoming is in the way imports are accounted for in measures of gross domestic product and worker productivity. (1 h ago)

• Haute Couture, Available Through Netflix... Haute Couture, Available Through Netflix Model
11/09/2009
Rent the Runway wants to do for high-end fashion what Netflix has done for movies by offering a simple mail-order system. (1 h ago)

• News Analysis: The Medical Industry Grum... News Analysis: The Medical Industry Grumbles, but It Stands to Gain
11/09/2009
Many analysts say the House bill is not as bad for business as many in the health care industry might have feared when the overhaul effort began. (1 h ago)

• A Movie’s Budget Pops From the Screen A Movie’s Budget Pops From the Screen
11/09/2009
Despite many skeptics, 20th Century Fox thinks it can turn a profit on its 3-D science-fiction film “Avatar,” which is among the most expensive movies ever. (1 h ago)

• A Magazine’s Scoop Is Scooped by Its Rep... A Magazine’s Scoop Is Scooped by Its Reporter
11/09/2009
The premature revelation that Andre Agassi would admit to using crystal meth in a forthcoming autobiography caused commotions at Time Inc. and CBS News. (1 h ago)

• Brown's spending cuts must not polarise ... Brown's spending cuts must not polarise Britain any further
11/09/2009
The gap between low-paid, low-skilled workers and high earners is already too great Despite much talk of a return to growth, the latest figures from the Office for National Statistics did not give the government or the economists the headlines they were hoping for. Rather than providing evidence of the long-anticipated green shoots, the data showed a continued decline in output. The deterioration may have slowed over the last quarter, but the direction of travel is still downwards and long-term unemployment is beginning to grow. And who is affected most by these trends? Confounding early predictions of a 'white collar recession' , the statistics show that it is the same people who were hit by previous recessions who are most exposed this time round – the 14.3 million low-paid, low-skilled workers in the 'real' economy of hotels, distribution, catering, construction and caring. The economic independence of these workers was already fragile. Nearly half of working age low earners have less than a months' savings in the bank and 24% of the 7.2 million low earning households are spending a quarter of their monthly income on debt repayment. Therefore the loss of a job – or even a reduction in hours – can tip a household from a position of coping to a position of crisis, with all the costs to the state and the family which is implied by that. The challenge is therefore to focus recessionary measures on maintaining the economic independence of low earners. This is not an easy task and it is not one that the Government alone can achieve. But there are a number of immediate steps to mend the gaps in existing safety nets. As well as measures to improve responsible lending, more low-cost, out-of-court remedies, like the Debt Relief Orders are also needed to support those people in unsustainable debt or for whom repossession is the only remaining option. Safety nets are vital, but work is nearly always the best route to maintaining economic independence for any household. This is particularly true for low earners, who are more dependent on their earned income than other groups due to their lack of savings and their lack of eligibility for many means-tested benefits. Expanding the eligibility criteria for working tax credit to include training as well as paid employment,would make it easier for people to access training while in work thereby insulating them against the risk of redundancy. For those people who do lose their jobs, the focus must be on maintaining their proximity to the labour market and it is this measure that should be used to evaluate the effectiveness of government schemes such as the Future Jobs Fund and the Work for Your Benefit pilots. Enhancing the existing 'light touch' skills assessment that takes place at 13 weeks after someone has lost their job, and defining 'sustainable' employment as 12 months rather than 13 weeks could also make a real difference to low earners who find themselves out of work. The damaging effects of previous recessions on those worst hit by them has been well documented. Avoiding and minimising this long-term impact must be top of the policy agenda today – but this cannot be done in a vacuum. Our analysis shows that many of the effects low earners are feeling now are the product of much longer-term trends towards a a growing gap between those people with assets, such as houses and pensions, and those who lack them. The challenge for government as it looks towards a period of gradual recovery and painful spending cuts is to ensure that this recession does not reinforce and enhance such polarisation. Avoiding this risk will require concerted action – by government, employers, regulators and the market – to guard against low earners bearing a disproportionate burden of the recession and to ensure that they can participate fully in the return to economic growth in coming years. Closer to crisis? How low earners are coping in recession' is published on Wednesday. • Sophia Parker is director of policy and research at the Resolution Foundation . Poverty Economic policy Pay Economic growth (GDP) Social mobility Unemployment and employment statistics guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• FA announces new £10m deal with McDonald... FA announces new £10m deal with McDonald's
11/09/2009
• Deal with fast-food chain to span four years • Funds will be channelled into grassroots football The Football Association and McDonald's have announced a new four-year sponsorship agreement worth £10m. Over the next four years, the new partnership will see the FA and the fast-food chain supporting more than 200,000 coaches and 400,000 volunteers through local FA networks as well as other local initiatives. The FA's chief executive, Ian Watmore, said: "Our joint achievement in recruiting and training over 10,000 coaches is tribute to the potent power of the partnership. "I am delighted we have secured McDonald's support for another four years and am confident that the investment and focus on driving up standards in English grassroots football will have a positive impact on young players, the coaches, the parents and ultimately the national game as a whole." The FA McDonald's guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Prudential pushes on after Axa and Allia... Prudential pushes on after Axa and Allianz news, and ING upgrade
11/09/2009
Prudential is in demand after positive news from rivals Axa and Allianz, and a price target upgrade from analysts at ING. The insurer's shares have climbed 32.5p to 610.5p, making it the biggest riser in the FTSE 100 at the moment. It has received a lift from Axa's proposals to buy full control of its Asian businesses, which traders say reinforces the value of Pru's own operations in the area. At the same time, the whole sector is being buoyed by better than expected third quarter results from Germany's Allianz. Meanwhile ING, while concerned about the outlook for insurers generally, likes the look of those who are investing in emerging markets. On that basis it has raised its price target for Prudential from 392p to 584p, although it only has a hold rating on the shares. It commented: As developed-world economies grow slowly or shrink and investment returns hide, the insurance industry faces the sort of perfect storm not seen in a working generation, in our view. The recent strong outperformance of insurers in our universe seems to us to be a relief rally that they have not suffered in the same way as the banks. This reaction is sensible, if superficial, in our view – and unlikely to be sustained. The sector faces an array of challenges like never before. In addition to the deadly combination of low investment returns and stagnating premium growth, challenges such as Solvency II loom. Products have not been properly repriced to take account of the new world of very low interest rates, in our view. This is killing margins just as certainly as lack of premium growth and poor investment returns. Emerging markets to the rescue. Some of the world's developing markets are doing exactly what it says on the tin and growing. A number of names in our universe are building businesses in these markets, and we recommend focusing buying on these stocks. Companies that are pursuing growth in emerging markets are the buy-rated Generali, Allianz, Fortis and Aviva. While the hold-rated Prudential has a significant operation in emerging Asian markets, we consider all the good news about this to be reflected in the current share price. Prudential Nick Fletcher guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Kier looks at OFT fine appeal, while tra... Kier looks at OFT fine appeal, while trading picks up
11/09/2009
Construction group Kier is considering appealing against a £17.9m fine slapped on the company in September by the Office of Fair Trading. The fine was part of an OFT investigation into illegal price rigging, and Kier's penalty was the largest meted out to the 103 companies involved. Kier had been unhappy with what it saw as unfair treatment - it did not plead leniency in time because it apparently was unaware of the investigation - and today, alongside an upbeat first quarter trading statement, it said it was thinking about lodging an appeal by the 22 November deadline. Whatever happens it plans to take an exceptional charge of £18m in its first quarter results to cover the fine. It added: The amount of the fine imposed does not relate to the culpability of any party but simply to its turnover on a certain date. Kier is totally committed to ensuring that the practice of cover pricing and anti-competitive behaviour more generally is totally driven out of our business. As far as trading goes, Kier said first quarter trading was in line with expectations and cash balances were at healthy levels. It was "on track to achieve a good result for this financial year." You would have heard all these comments, apparently, if you attended the company's annual meeting at 11 o'clock on Saturday in Bedfordshire, when shareholders took tea and sandwiches in a marquee in rural Sandy. Not an obviously attractive prospect on a weekend, but still....... In the cold light of Monday morning, broker Investec was impressed by the update, and by the prospect of an appeal against the OFT fine. In a buy note, analyst Alastair Stewart said: Kier's statement was punchier in tone than we expected, with performance "in line", strong cash, healthy orders in construction and support services and a "good" result expected for 2010. We are not changing forecasts and believe they now appear secure after [the] statement. There was much detail on construction's success in winning public work, which has been a major fear weighing on the stock. Outlook is strong for education and opportunities are also strong in power and transport, including in Hong Kong. A potential boost to the shares today could stem from the company's statement that it is "considering an appeal" against the £17.9m fine for "cover pricing". This is the strongest indication yet from any company that it will contest the fine, which chairman Phil White described at the Bedfordshire AGM as "wholly disproportionate". Appeals have to be lodged by 22 November and we believe an announcement could be made imminently. We believe the company is fundamentally under-valued and on a conservative sum of the parts basis, in our view, offers over 100% potential upside. Investec has a £23.63 price target on the business, compared to its market price of £10.44, up 16p. Kier Nick Fletcher guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• You ask, they answer: Eurostar You ask, they answer: Eurostar
11/09/2009
Put your questions to Eurostar on its environmental track record When Eurostar's high-speed link from St Pancras opened in 2007, many gave it a green thumbs–up : Greenpeace even unfurled a 3m-high banner at the station reading "yes" as a show of their support. This week, the train firm that claims to " tread lightly " joins us to answer your questions on its environmental track record. Wondering how far it has travelled towards its goal to cut emissions per traveller by 35% by 2012? Interested in a pre-Christmas shopping trip, and want to know how its eco-credentials compare to taking the plane? Whether you should be concerned about the "embodied carbon" it took to build the Channel tunnel in the first place? Whatever you want to ask, just post your questions below - Eurostar will be online from Monday to Friday this week to answer. Ethical and green living Corporate social responsibility Travel and transport Rail travel guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• A new era of fiscal responsibility | Rut... A new era of fiscal responsibility | Ruth Richardson
11/09/2009
If the UK fails to get public expenditure back to a sustainable level, and restore a low tax regime, it risks decades of stagnation Where did this fiscal crisis start? Most certainly, it is not just a function of the credit crisis. Decades of political denial and then delusion were the mothers and fathers of this crisis. First the denial. The "Brownian notion" that public finances, then in rude good health, could stand the weight of huge and permanent transfers to a bloated, inefficient and unaccountable public sector. I warned at the very first Reform conference ( A better way, April 2003 ) that, without fundamental reform to secure the discipline of public finances in the nature of my code of fiscal responsibility , which I pioneered in New Zealand in the early nineties, Britain was destined to converge on the worst possible public expenditure track, with certain cost to her competitiveness. That Britain is now on the brink – the worst fiscal miscreant in Europe – is sadly a predictable consequence of that political denial. So, too, the politics of delusion, practised until recently by the Cameroons. The myth was peddled that public expenditure could be lifted and taxes lowered, both made possible by sharing the dividends of growth. The party conference season demonstrated that such myths have been mugged by reality. It is time to push the fiscal reset button. New Zealand had to do it in the late eighties and early nineties and offers some compelling lessons. The quality of public policy and the architecture of execution are everything, as leaders of courage seek to haul their countries back from the brink. The imperatives are: • A fundamental re-examination of the role of the state in the economy and in society; how best to secure growth, innovation and a culture of wealth creation; and how best to foster personal opportunity and responsibility. • A detailed roadmap to take public expenditures back to a sustainable level over a short- to medium-term period (three to five years). • A broad, but low tax regime that advances the stated economic and social goals. • A modern set of public expenditure tools and employment practices that allows performance to be maximised, measured and made accountable. • A new architecture that involves ministers, officials, parliamentarians and the public having new roles in the quest for fiscal responsibility. So what does the outcome look like? The bad one doesn't bear thinking about: decades of decline as the unsolved fiscal business drags Britain down. The good outcome sees modern politicians across the political spectrum being willing to champion the reforms that are required to usher in such an era and sees the public persuaded that an era of fiscal and personal responsibility is long overdue and to be welcomed, restoring vibrancy and confidence to the economy. Public finance Tax and spending Labour Conservatives Economic policy Economics Thinktanks Credit crunch Ruth Richardson guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Axa launches rights issue to fund Asian ... Axa launches rights issue to fund Asian expansion drive
11/09/2009
Axa has teamed up with Australian rival AMP to unveil an A$11bn (£6bn) bid to buy out Axa Asia Pacific Axa has launched a €2bn (£1.78bn) rights issue to fund an expansion drive in Asia. The French insurer announced the cash call this morning, but promptly suffered an early setback when its first takeover target – its own Asian operations – rejected the advances. Under the rights issue, Axa is offering new shares at €11.90, almost a third less than last Friday's closing price of €16.88. News of the rights issue came as Axa teamed up with Australian rival AMP to buy out Axa Asia Pacific for A$11bn (£6bn). The deal would see AMP take control of the Australia and New Zealand assets while Axa would hold on to the Asian Pacific operations, but it was immediately rebuffed. It is Axa's second attempt to buy back the Asian business, in which it currently owns a 54% stake. "Through the rights issue, our shareholders will be able to participate in the positive prospects offered by the acquisition opportunities arising from the current market environment", said Henri de Castries, Axa chairman. Shares in Axa Asia Pacific jumped by a third to A$5.70 as investors speculated that Axa would come back with a higher offer. Axa recently announced a fall in third-quarter revenues and has taken a number of cost-cutting measures to streamline its businesses. In the UK, it is cutting 350 jobs to save £150m over the next three years. Axa Insurance industry Julia Kollewe guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Ed Miliband to unveil plans to fast-trac... Ed Miliband to unveil plans to fast-track new nuclear power stations
11/09/2009
Government will identify sites around Britain suitable for building nuclear plants as part of new energy policy Ed Miliband, the energy and climate change secretary, insisted today that nuclear power had a "relatively good" safety record in this country as he prepared to unveil plans to fast-track a new generation of nuclear power stations. The government will later identify further sites around Britain that could be suitable for building a nuclear plant amid Tory cries that the plans lack "democratic legitimacy". Miliband will unveil a series of national policy statements setting out the need for new energy infrastructure including renewables, fossil fuels and gas, as well as an overarching energy statement that will include climate change policy. A separate strategy statement on the nation's ports will also be published. "The basic message here is: we can't say no to all of the nuclear or all of the low-carbon fuels that are out there," the energy secretary told GMTV. "We need nuclear, we need renewables, we need clean coal, we need all of those things if we are going to make that transition to cleaner energy." Miliband said it would not be his decision about whether a new nuclear power station is built in a particular area. "It is going to be a decision for an independent commission that will take a view about what the local feeling is," he said. The minister insisted that there would be consultation with local people both before the planning application was submitted by the commission and afterwards and said that there was "public enthusiasm" in most areas being considered. The policy statements, which run to 3,000 pages, will be open for consultation until early next year and will act as guidelines for the Infrastructure Planning Commission (IPC), a new central authority that will start accepting planning applications in March. The aim is to speed up planning decisions and give answers to developers within one year, to end what one official described as the current "long and tortuous" process of winning approval for schemes. It took six years to steer the Sizewell B power station through the planning process, and officials believe red tape is discouraging investment. Under changes to the planning laws, the IPC will be able to speed through the proposals for new schemes if it decided they fitted in with the policy statements. But the shadow energy secretary, Greg Clark, said that a simple ministerial statement on the issue was inadequate and called for a Commons vote to give the process "democratic legitimacy". "It is a national emergency and it's been left far too late – we've known for the last 10 years that most of our nuclear power fleet would come to the end of its planned life," he told BBC Radio 4's Today programme. "So whatever happens with these statements we've got a black hole, but actually we do need a different planning system, we need a fast track for major items of infrastructure. "The trouble with the way the government's doing it is, it has no democratic component. The statements will just be read out to MPs without a vote and the decisions will be taken by an unelected, unaccountable official. "We think it should be a minister taking that decision, accountable to parliament, with the necessary time limit, about three months, so it doesn't delay the process. But it does need to have democratic legitimacy otherwise people will find this an imposition that they will rail against." But the energy secretary said the government had made the "right distinction" on what politicians and the planning commission should be concentrating on. He told Today: "Under the planning reforms, we separate the question of need and the question of specific developments, so we are in a sense making the right distinction between what politicians should make a judgment on, which is the question of need, and specific weighing of a particular development, which the IPC will do." He rejected Clark's claims that the government should have addressed the matter earlier. "We are making the decision in a timely way," he said. "The lights aren't going to go out. We do have security of supply in this country but as we move towards low-carbon alternatives we need to go down the nuclear route." Miliband will later today stress what the government believes to be the importance of a diverse energy supply. But the most detail will given in the nuclear policy statement, which will include a forensic assessment of the 11 sites already nominated by energy firms as well as identifying alternatives. "Because nuclear is controversial, we wanted to make it quite clear where the sites we consider suitable are," said one official. The policy statements are expected to be a drawing together of already stated policy. As well as the public consultation, which ends in February, a Commons select committee has been formed to scrutinise the statements. Other government departments are set to produce similar policy statements on subjects including the water supply and airports. The IPC will be kept away from the government in an attempt to remove politics from the planning decision. The official said it was not about "concreting over the countryside" but making the system "less labyrinthine". The IPC would, he added, be "inquisitorial rather than adversarial". Utility firms keen to build plants in Britain, including EDF and E.ON, have long argued for a more certain planning regime. Energy firms and industry experts have warned of an impending energy gap in Britain unless more large scale projects are hurriedly built. But green groups expressed dismay at the prospect of new nuclear power and warned that the government could be open to legal challenge if the statements do not properly consider climate change. They have also raised concerns that people will not be able to influence decisions on major projects because schemes covered by the statements will not be subject to public inquiry. Nuclear power Planning policy Energy Climate change Ed Miliband Green politics David Teather Hélène Mulholland guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Gold hits record high Gold hits record high
11/09/2009
• Falling dollar pushes up gold price • Sterling and oil also rise Gold has hit a fresh all-time high this morning, as the weakening US dollar prompted investors to increase their bullion holdings. The dollar came under pressure after Friday's worse-than-expected US jobless data and the G20 meeting at the weekend reinforced expectations that American interest rates will not rise any time soon. This pushed the spot price of gold, seen as a safer investment, to a new record of $1,108.05 an ounce – and extended last week's gains of almost 5%. Sterling also rose, hitting a three-month high against the dollar today of $1.6800. Other precious metals such as silver, platinum and palladium also firmed, while crude oil rose nearly 2% in early trade. Despite these record prices, there is no shortage of buyers for gold. Last week India's central bank bought 200 metric tonnes of gold from the International Monetary Fund for $6.7bn , triggering speculation that other countries would follow suit. "The long-term positive argument [for gold] is still in place and mainly centres on weakness in the dollar, a lack of faith in US intention to support it, and hedge fund buying," said analysts at MF Global. Gold has increased by 5.5% in the past month while the dollar has lost 1.5% against a basket of six major currencies. Yesterday China, which holds more US treasury bonds than any other country, urged America to exercise its fiscal responsibilities. "I hope that as the largest economy in the world and an issuing country of a major reserve currency the United States will effectively discharge its responsibilities," Chinese premier Wen Jiabao told a press conference in Egypt. Gold Commodities Currencies Oil US economy US foreign policy China G20 Julia Kollewe guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Market forces breaking news: Broadband d... Market forces breaking news: Broadband demand drives up Inmarsat's profits
11/09/2009
• Satellite operator says revenue from in-flight broadband services has risen by 10% • Anglo American appoints Sir Philip Hampton • Hiscox enjoys 'benign' quarter With just hours to go until Kraft either launches a bid for Cadbury or walks away, there is a clutch of results from companies to keep us occcupied. Satellite firm Inmarsat has posted a 33.5% jump in profits after tax , to $50.2m, thanks to growing demand for high-speed wireless services. Its SwiftBroadband arm, which provides satellite broadband connections to aeroplanes, grew its revenues by 10.1%: SwiftBroadband usage levels are steadily increasing and we are pleased with the early stage development of this service. SwiftBroadband continues to see orders related to the introduction of in-flight cellular services on commercial airlines. In September, British Airways launched a London to New York service equipped with our SwiftBroadband service to support in-flight passenger services. Elsewhere, engineering chain IMI has just rushed out its interim management statement early - as the results are much better than expected. IMI explained that its cost-cutting programme has delivered better results than it expected: Selling prices generally remain resilient although we are beginning, as expected, to experience some downward pressure within Severe Service on a number of larger oil & gas projects. Low cost sourcing initiatives and value engineering programs have reduced material prices in the year to date by around 5%. Lower average metal prices have also produced margin benefits, particularly within our Indoor Climate business. Actions to right size the business, and accelerate moves to transfer more production to low cost economies continue to bear fruit and we have brought forward some additional plans scheduled for 2010-2011, which will result in a higher rationalisation charge for the year of around £35m (compared to the £30m indicated at the half year). Chairing Royal Bank of Scotland clearly isn't enough of a challenge for Sir Philip Hampton, who is also joining the board of Anglo American as a non-executive director. Insurer Hiscox said it has benefited from a "benign quarter for claims with no major catastrophes or individual losses". Stripping out exchange rate variations, the company has seen income growth of 10.5% in the last nine months . Construction firm Kier has reported that trading is in line with its expectations , with some reasons for optimism: Although we remain cautious on the outlook for 2010, the private housebuilding market has now stabilised with price increases being experienced in selective locations. However the availability of mortgages, particularly for the first time buyer, remains limited and until it improves any recovery in the private sector market is likely to be fragile. Inmarsat Kier Hiscox IMI Royal Bank of Scotland Graeme Wearden guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Kraft facing deadline in Cadbury battle Kraft facing deadline in Cadbury battle
11/09/2009
• Kraft must make formal bid or walk away for six months under UK takeover rules • Cadbury chairman Roger Carr holding out for 850p-per-share offer Cadbury is readying its defences against a hostile takeover bid from the US food group Kraft, which is expected to come today. Kraft has until 5pm today to launch a formal offer or walk away for six months under UK takeover rules. It swooped on the British confectionery maker in early September with an informal proposal worth £10.2bn, or 745p a share. Cadbury, the company behind Dairy Milk, Jelly Babies and Bassett's Allsorts, has firmly rejected Kraft's overtures, describing the initial cash-and-shares offer as "unappealing". Undaunted, Kraft has lined up a $9bn (£5.4bn) bridge loan to fund the Cadbury acquisition from a group of nine banks, including Citigroup and Deutsche Bank. Its lead adviser on the deal is Lazard. Roger Carr, the Cadbury chairman, this weekend described Kraft as having turned from a "low-growth conglomerate" into a "no-growth conglomerate". The American company released worse-than-expected third-quarter results last week and cut its sales forecast for the year. Carr is expected to reiterate today that while Kraft may need Cadbury, Cadbury does not need Kraft. He is understood to be holding out for an offer approaching 850p a share before he will begin discussions with Kraft, whose brands range from Philadelphia and Dairylea cheese to Kenco coffee, Toblerone and Terry's Chocolate Orange. Kraft is unlikely to raise its offer price significantly, though it may improve its terms to stay in the game and win over Cadbury shareholders. Its weak results last week have eroded the value of the stock component of the offer and analysts said it may have to increase the amount of cash it is offering. Kraft is hoping that shareholders, who have so far held firm, will back its proposal if a bidding war fails to materialise. Its initial approach two months ago immediately sparked talk of such a battle, but interest from rivals such as the US group Hershey has yet to emerge and the consumer goods group Unilever publicly ruled itself out of the running last week. Martin Deboo, an analyst at Investec Securities, said last week that Kraft would not pay more than 800p a share. He previously thought it would go up to 875p but changed his mind after Kraft's chief executive, Irene Rosenfeld, stressed last Tuesday that she would be prudent in her pursuit of Cadbury. Kraft's largest shareholder, the billionaire investor Warren Buffett, has warned the company against overpaying for Cadbury. Kraft has sought to defuse union opposition in Britain by including in its initial approach a pledge to keep open Cadbury's Somerdale chocolate factory in Keynsham, near Bristol, which has been earmarked for closure. This would save 500 jobs, but the Unite union is sceptical, saying that two meetings with Kraft have failed to produce any concrete details. While the Cadbury family are no longer major shareholders, Felicity Loudon, whose grandfather, Egbert Cadbury, was managing director of Cadbury Brothers, has expressed her dismay at the business – which dates back to 1824 – disappearing into a "plastic cheese company". Shares in Cadbury have fallen back to their lowest level since Kraft made its surprise approach on 7 September, closing at 758p last Friday. Before Kraft made its interest public, the stock traded at 568p. Both sides refused to give any guidance last night. A source close to Cadbury said: "The ball is in their court. They've got until 5pm to put up or shut up." Kraft Cadbury Mergers and acquisitions Food & drink industry Warren Buffett Julia Kollewe Elena Moya guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (1 h ago)

• Dyson's latest brainwave Dyson's latest brainwave
11/08/2009
Dyson firm also pledges £5m to the Royal College of Art after shares deal nets the inventor £105m Sir James Dyson, who pioneered the bagless vacuum cleaner and recently developed a desk fan without blades, has given £45m to his three children. Each of them has received £15m from a shares deal, which also netted £105m for the billionaire businessman and inventor. The Dyson company bought back shares from the family for £150m in February 2008, according to documents filed with Companies House. The deal took place shortly before capital gains tax went up to 18% from 10%. A company spokesman said: "For the past 35 years the family has been involved in the company, supporting it through hard times. It's only natural that James should want to look after their future." The 62-year-old tycoon, who was knighted in December 2006, recently became the Conservatives' technology consultant. His other products include a hand-dryer, known as the Airblade, which dries hands in just 10 seconds. Company profits in 2008 rose to £90m on sales of £628m. The firm has also pledged £5m to the Royal College of Art to support aspiring designers. Dyson's children, all in their thirties, have built their own careers and shown similar entrepreneurial spirit. But only Jake Dyson has followed in his father's footsteps by becoming a product designer himself. He studied industrial design at Central Saint Martins and set up his own, eponymous company in 2002. He has developed a range of lights that use motors to vary light angles and the size of the beam, creating rooms that "feel like they're lifting and breathing". His sister Emily runs a London boutique called Couverture, which moved from Chelsea to larger premises in Notting Hill shortly after the shares deal. The fashionable, three-floor store sells women's and children's clothes, vintage pieces and furniture. Sam, the youngest of the Dyson children, is a guitarist with Bristol band The Chemists, who are currently touring with Skunk Anansie. He set up a record label after receiving the windfall and is also converting a barn at Farleigh Plain near Bath into a recording studio. Entrepreneurs often decide to leave little to their children. Bill Gates, the Microsoft founder, has said he will leave all of his $58bn fortune to charity, while Dragon's Den star Duncan Bannatyne plans to give away his entire £310m estate. Entrepreneurs Technology sector Design Julia Kollewe guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (4 h ago)

• Darling: Britain will fight for global b... Darling: Britain will fight for global banking tax
11/08/2009
Chancellor insists Obama administration's refusal to back a 'day-to-day financial transaction tax' does not mean an end to plans Alistair Darling pledged today that the government would step up its fight for a new international tax on banking despite an initially frosty response to the plan from Washington. The chancellor said there was broad agreement among Britain's partners in the G20 group of rich and developing nations that it was worth exploring new curbs on global finance following the worst economic crisis since the 1930s. After Gordon Brown's unexpected weekend backing for consideration of a so-called Tobin tax, Britain now plans to keep up the pressure ahead of an International Monetary Fund report on transaction taxes, due out in April. Darling said that remarks from Timothy Geithner, the US treasury secretary, that the US would not back a "day-to-day financial transaction tax" did not mean the Obama administration was ruling out any form of global financial sector charge. Meanwhile, Downing Street sources said the prime minister's opponents had failed to grasp how the political mood had been transformed by the financial crisis. Brown used a speech in St Andrews to call for "a better economic and social contract between financial institutions and the public based on trust and a just distribution of risks and rewards". His comments were seen as an endorsement of the so-called Tobin tax - a proposal for an international tax on currency transactions floated by the economist James Tobin in the 1970s but never implemented. Any proposal of this kind would be unworkable without US support and the initial reaction was interpreted as a snub to Brown. As well as Geithner's discouraging response about a day-to-day transaction tax, Dominique Strauss-Khan, the head of the IMF, said he thought such a measure was unlikely to be adopted and Jim Flaherty, Canada's finance minister, said his government was interested in lowering taxes, not raising them. But today government sources indicated the focus on the Tobin tax had obscured the extent of international agreement on the need to ensure the financial sector contributes more to insure against the costs of banks failing. Brown accepts that there is no consensus yet about what should be done, with the Americans more interested in imposing some form of compulsory insurance on the banks and Europeans more sympathetic to some form of Tobin-style taxation. However, he does not believe consensus is impossible. In an interview with BBC Radio Scotland, Darling acknowledged that there would be "difficulties" in reaching an international agreement on a global banking tax but insisted that it was an idea that was worth investigating. "We have talked to the Americans, just as we have talked to others – there are other countries too that are interested in looking at this," Darling said. "No one is saying this is easy, but if you don't look at the possibilities and ask yourself whether or not there could be a fairer way of making sure these big multi-nationals make a fair contribution, then I think you would be missing something." Darling insisted that Geithner was also in "broad agreement" with the general principle. "He is very clear that institutions rather than individuals should bear the cost of this," Darling said. The chancellor denied that the proposal had been floated by Brown as a pre-election stunt. It was "a question of fairness," Darling said. "I think people will quite rightly say you should be looking at how these institutions make a contribution." Brown's move took commentators by surprise because in the past the Tobin tax has tended to be seen as the preserve of leftwing idealists. Mainstream politicians have often dismissed it as unworkable and when Lord Turner, the chairman of the Financial Services Authority, the City watchdog, came out in favour of the idea in the summer, the Treasury did not rush to offer its support. But Brown's aides pointed out today that the prime minister was at the G20 summit in Pittsburgh, where world leaders agreed to commission the IMF feasibility study into a global banking tax. The prime minister also refuses to accept that the idea is unworkable. One aide pointed out today that bank bailouts and the payment of debt relief for developing countries show how ideas initially dismissed as impractical can eventually attract international support. While the government insisted that that there was still some prospect of Brown's plan being implemented, the Tories claimed that it was dead and that the affair showed Brown would do anything for a "cheap headline". Mark Hoban, the Conservative Treasury spokesman, said: "Gordon Brown used to boast he was leading the world out of recession but we're the only major economy lagging in recession and his ideas are being shot down by the international community before they have even got off the ground." Sin tax The Tobin tax – a charge of between 0.1% and 0.25% on foreign exchange deals – was first proposed by US economist James Tobin, left, in 1972. It was aimed at preventing speculators destabilising the foreign exchange system after the US abandoned the "gold standard", where currencies had been pegged to the metal since the end of the second world war. His proposal wasn't a hit with the neoliberal economists of the decade, who professed faith in the self-correcting nature of markets. The idea "sunk like a rock", Tobin acknowledged. But earlier this year, seven years after his death, it was revived by Lord Turner, the chairman of the FSA, who said a levy on financial transactions would curb the power of the City. Elena Moya Economics US economy Tax Banks and building societies Obama administration Gordon Brown Alistair Darling Andrew Sparrow Larry Elliott guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (6 h ago)

• Barclays board discusses bonus cuts Barclays board discusses bonus cuts
11/08/2009
• Bank expected to report profits of £1.5bn, much of it driven by investment arm Barclays Capital • Directors said to be 'mindful' of public hostility to big pay awards in wake of banking crisis Non-executive directors of Barclays are urging the bank to show restraint on bonuses this year despite the bumper activity at its investment banking arm, Barclays Capital (BarCap). Amid fresh controversy about City bonuses, Barclays' board has been discussing how to tackle the tricky issue and is understood to be "mindful" of the current attitude towards big rewards for staff. The bank, which has bolstered its capital cushion without having to take taxpayer cash, is due to update the City on its third-quarter trading on Tuesday. It is likely to demonstrate that it is generating profits, in contrast to Royal Bank of Scotland (RBS) and Lloyds Banking Group, which were both bailed out by the taxpayer and are both making losses. Barclays is expected to report profits of £1.5bn. Much of the growth is driven by BarCap, overseen by Bob Diamond , which has been transformed after taking over the Wall Street operations of Lehman Brothers a year ago and has developed a reputation for aggressive hiring tactics in the face of the banking crisis. RBS has admitted that its 20,000 investment banking staff are easy prey for Barclays, because the demands imposed by the government, in return for taxpayer money, prevent it from paying cash bonuses to anyone earning more than £39,000. This does not stop RBS paying out bonuses in shares, but bankers accustomed to cash payouts will be disappointed; it is rumoured in the City that headhunters are being swamped by CVs. At Barclays, no decisions have yet been taken on the size of any payouts, which are not handed out until February. However, the early indications are that they will not be of the scale that some people might have been expecting. Barclays has previously said that bonuses at BarCap were down 40% last year when the investment bank would have been loss making without a £2.2bn accounting gain from the takeover of Lehman. The bank is now considering whether to ensure the bonus pool is reduced again despite the previous determination of the management to offer performance-related pay. Last year, executives on the Barclays board refused their bonuses in the wake of the banking crisis and the controversy over its fundraising from Middle East investors. The executives at RBS and Lloyds have been forced to have their bonuses deferred for three years under the terms of the government bailout. Barclays Executive pay and bonuses Royal Bank of Scotland Lloyds Banking Group Banking Lehman Brothers Jill Treanor guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (7 h ago)

• Branson may yet win national lottery Branson may yet win national lottery
11/08/2009
• 80% of Camelot consortium up for sale • Third attempt for the People's Lottery Richard Branson and a number of private equity firms are among potential bidders jostling to buy the 80% of national lottery operator Camelot that has been put up for sale – nine years after the entrepreneur's outfit, the People's Lottery, last failed to win the contract. Camelot investors Cadbury, banknote printer De La Rue, Japanese information technology firm Fujitsu Services, and Thales Electronics, the French aerospace group, have appointed the City banks Rothschild and Greenhill to run the sale. The fifth Camelot investor, Royal Mail, plans to keep its 20% stake as its alliance with Camelot is more strategic, – Camelot operates some of its sites at post offices. "Camelot recently started its new 10 year-licence and it's an appropriate time for investors to approach the market," a source close to the sale said. Richard Branson's Virgin Group, Camelot and the two banks declined to comment. For Branson, it would be a backdoor route to running the lottery after two previous attempts – in 2000 he failed to wrest the lottery licence from Camelot, which had beaten his People's Lottery bid to the initial contract in 1994. Camelot, which generates annual sales of about £5bn, could be valued at about £450m – a price would lead to a £90m windfall to each of the selling shareholders. The sale is likely to have two stages, the first one running for the next two to three weeks. Previous press reports have also cited private equity house Cinven as a possible buyer. Camelot manages the national lottery infrastructure, designs new games and provides services for players and winners. The company also runs the network that sells tickets to players in partnership with 27,500 retailers throughout the country. Games include Lotto, Lotto HotPicks, Dream Number, Thunderball, Daily Play and EuroMillions. Around 28% of total national lottery revenue is allocated to good causes. A further 50% is paid to winners in prizes, while 12% is paid to the government in lottery duty. National Lottery Virgin & Richard Branson De La Rue Cadbury Royal Mail Elena Moya guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (8 h ago)

• Brompton Bicycle: crafted for cult appea... Brompton Bicycle: crafted for cult appeal
11/08/2009
Sales of the folding bikes are up more than 25% this year as multicoloured options win younger converts - many of them women The Brompton bicycle company is having a fashion moment – well, at least it was until last month when Lord Mandelson, the business secretary, was snapped whooshing around London on his sleek black "folder". The British manufacturer has been quietly raising the style stakes in the cycle lanes, as multicoloured options such as shocking-pink handlebars and "purple haze" frames win younger – and female – converts to a brand that was once the preserve of eccentric middle-aged men. Brompton Bicycle's managing director, Will Butler-Adams, accepts Mandelson has snuffed out any flames of fashion credibility but is nonetheless chuffed at government endorsement. "He's had it for a bit too, because it's not the latest, latest one," he adds. Mandelson is not the only one taken with his Brompton. Sales are up more than 25% this year as tweaks to the famous folding design, which starts at £600, coupled with rising bus and train fares, get people on the move. "We made a conscious effort to introduce choice and make the bike lighter," says Butler-Adams, whose company now offers 144 colour combinations but up to 4m permutations if other parts are included. "The principle design is the Brompton but, in terms of what you can have, the sky's the limit." For a brand that is a byword in chic thanks to its pared-down technology, Brompton Bicycle's headquarters, squashed under a motorway flyover at Kew Bridge, west London, are hardly inspiring. Any factory noise – the company makes a hundred bikes a day – are muffled by the thunder of articulated lorries overhead. But once inside, the grim anonymity of the industrial park disappears. Coloured frames in flamingo pink, apple green and cornflower blue are lined up like bonbons in a sweet shop, while racks of disembodied saddles look like they should be displayed in Tate Modern. As Butler-Adams walks the factory floor it becomes clear he is on first-name terms with all 115 staff. Each finished bike has 16 stamps identifying the craftsmen who shaped it. "Our patent ran out nine years ago, and if we were making this bike in Taiwan, staff turnover would mean that knowledge would be lost. Years of love have gone into our staff," says Butler-Adams. The bike is named after the Brompton Oratory in South Kensington, which the company's founder, Andrew Ritchie, could see from the window of his flat as he worked on the prototype in the early 80s. And while the company spins on one intrinsic design, Brompton means different things to different nationalities. In Barcelona young urbanites whizz down the Ramblas to the sea, while in Germany it remains the preserve of the 50-something Herr. Simon Threadkell, creative director at Fitch, a branding expert and Brompton owner, says riders of the bike make up a discrete club: "It's like VW beetle drivers flashing their headlights at each other – there is a sense of belonging. It's a disparate organic community." In Britain the club's membership is changing, with 35-40% of Brompton customers now women. The average rider's age has also dropped below 40. Ben Cooper, who runs the Kinetics bike shop in Glasgow, reports a trend for "his and hers" purchasing. "Couples often buy together," he says. "At the moment I'm doing a pink and purple one for 'her', while 'his' is a more manly sand colour." Working at full pelt Brompton's cult appeal means the brand punches well above its weight in terms of awareness. Although sales have grown by at least 20% for the past four years, it is a small player with a turnover of £10m in a UK bike market worth about £450m a year. The factory is working at full pelt but buyers must still wait 10 weeks for delivery. Butler-Adams concedes the company may have lost market share in the fast-growing folding market but says it is not chasing volume sales. Like some other premium brands it refuses to supply the market-leading retailer, Halfords, which sells £200m worth of bikes and accessories a year, preferring to deal with bike "specialists". "I'd love to sell their product," says Halfords' chief executive, David Wild. "Folding bikes are a real area of opportunity and we are not doing as good a job as I'd like on ranging at the moment." And competition is increasing. Halfords has developed its own folding bikes, using its house brand, Apollo, while the Los Angeles-based Dahon is the world's largest folding bike manufacturer. So why not sell out to private equity and double the size of the factory in a heartbeat – or move production to Taiwan? Butler-Adams looks appalled. The company, he says, is not constrained by a lack of funds – it is debt free – but by the time is takes to train master bike builders. "Bring five new people in and it takes five to train them. There is a limit to what you can do and if you fill a factory with new people you dilute the knowledge in the business." Brompton has already invested close to £1m in Kew Bridge and plans to spend another £500,000 at the site, with less specialist jobs outsourced to factories in Europe and Asia. When Butler-Adams joined in 2002, Brompton made 7,000 bikes a year; this year it will be 25,000, with a target of 50,000 on the near horizon. "In two years we will be kicking arse," he says. Travel & leisure Cycling Manufacturing sector Halfords Consumer spending Retail industry Zoe Wood guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (8 h ago)

• Emerging cities set to join world's weal... Emerging cities set to join world's wealthiest by 2025
11/08/2009
Sao Paulo, Shanghai and Mumbai will be up there with New York, London and Paris, according to new PwC research New York, London and Paris may trip off the tongue as the world's top cities in terms of wealth but over the next 15 years emerging cities like Sao Paulo, Shanghai and Mumbai will give them a run for their money, says new research. According to consultant PricewaterhouseCoopers, the economic growth of many cities in the emerging world is so much stronger than that in many developed economies that the league table of the world's great cities is going to change radically between now and 2025. Shanghai is set to rise from 25th place to 9th by then, with Mumbai likely to storm to 11th in the global gross domestic product per capita rankings from its current slot at number 29. Similarly, Beijing will leap from 38th to 17th place. Sao Paulo in Brazil is in 10th place but is likely to rise to 6th by 2025, ahead of Paris but still behind the current and projected top five of Tokyo, New York, Los Angeles, London and Chicago. "If you look at the projected percentage GDP growth from 2008 to 2025 of the top emerging and the top advanced economy cities, the comparison is stark," said John Hawksworth, head of macroeconomics at PwC. "Cities such as Shanghai, Beijing and Mumbai, for example, are projected to grow at around 6-7% per annum in real terms, whereas cities such as New York, Tokyo, Chicago and London grow only at around 2% per annum on average. In absolute terms, the projected rise in Shanghai's GDP between 2008 and 2025 is greater than the combined GDP increase for London and Paris together." The research shows that the largest 100 cities accounted for about 30% of global GDP in 2008 and some have bigger economies than medium-sized countries like Sweden or Switzerland. But, says PwC, systematic global data on the size of city economies has been lacking until now. PwC published the first set of global city GDP rankings in 2007 and has now updated these to 2008 with projections to 2025. Thomas Hoehn, an economics partner at PwC, added: "Global economic activity is concentrated in the world's largest cities and it is important to understand how those cities compare, especially when many developed economies are experiencing economic difficulties while countries like China and India continue to grow." Delhi, Guangzhou and Rio de Janeiro are all likely to rise rapidly up the table between now and 2025, PwC says, as are Istanbul and Cairo. Lots of American and European cities, however, are set to slide sharply over the same period, with cities like Sydney, Singapore and Madrid likely to drop out of the top 30 altogether. The PwC estimates of city output are based on combining United Nations population estimates for cities in 2008 with estimates of GDP per capita at purchasing power parities, which equalise the approximate costs of living. Global economy Population Currencies Ashley Seager guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (23 h ago)

• Campaigners vow to continue fight over Z... Campaigners vow to continue fight over Zimbabwe's diamond fields
11/08/2009
Anger after regulatory body refuses to suspend African country following claims of killings and rapes in mining district Groups campaigning to suspend Zimbabwe from a diamond regulatory body say they will begin lobbying its new chair after last week's failure to oust the beleaguered African country from the organisation. Global Witness said it was dismayed the Kimberley Process Certification Scheme (KPCS) did not suspend Zimbabwe despite widespread claims of killings, rapes and smuggling in the eastern diamond fields of Chiadzwa. A KPCS working party, which visited the country in June, reported on army-led violence against illegal miners with civilians virtually forced into panning for diamonds in return for low payments, organised by military syndicates. However, at a four-day meeting in Namibia, which ended last Thursday, the diamond body gave Zimbabwe until June to improve. The KPCS agreed to send a monitor to the site but it is unclear who that will be or the level of co-operation demanded of the government.Campaigner Susanne Emond from Partnership Africa Canada, which fights against diamond-related violence, said: "We are disappointed but not surprised by the decision. Zimbabwe saw suspension as punishment but it isn't. Being part of the scheme means you should maintain certain standards and we know from various reports that there is non-compliance in Zimbabwe." Campaigners believe the current chair, Namibia, is opposed to suspension but hope Israel, which is due to take over in 2010, will be "stronger and more decisive" on Zimbabwe. Annie Dunnebacke from Global Witness said: "Not for the first time the KPCS has failed to enforce its own minimum requirements. We know there is non-compliance inside Zimbabwe, our own report said so." Human Rights Watch says 200 people have died at Chiadzwa since Robert Mugabe's government ordered a bloody crackdown on illegal panners in October last year. But one group inside Zimbabwe says the figure is closer to 400. Mining Zimbabwe guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (23 h ago)

• Has recession ended? Economists split Has recession ended? Economists split
11/08/2009
Analysts sharply divided over ONS data on economy Mervyn King will reveal the Bank of England's forecasts for the crucial pre-election period this week, amid a furious row among some of Britain's most prominent economists about whether the recession is already over. With the poll due by June at the latest, Alistair Darling is hoping recovery will be under way by the end of this year, bringing the feelgood factor back to beleaguered British voters. But economists are sharply divided over whether the downturn will get worse still. Many City number-crunchers were caught off guard by the 0.4% contraction in the economy in the third quarter, after business surveys had suggested firms were feeling more upbeat. Led by blue chip investment bank Goldman Sachs, they have been rubbishing the official figures since they were announced last month, insisting recovery started in the autumn, and the downturn will be wiped away when updated figures are announced. Goldman analysts said the data, collected by the Office for National Statistics, was: "Unbelievable. Literally." Even the Treasury is pinning its hopes on the ONS changing its calculations, and is delaying the autumn pre-budget report until after revised figures are released on 25 November, in case they make the economy look healthier. The slump looks much deeper than the 3.5% contraction Darling forecast for 2009 in the April budget. But analysts at consultancy Fathom, several of whom used to work at the Bank of England, this weekend issued a furious rebuttal to the Goldman analysis, describing it as "baloney". Fathom director Danny Gabay said the dispute was more than an arcane row among number-crunchers, because the Bank bases its monetary policy decisions on an assessment of the economy's health – and if the upturn has begun, rock bottom interest rates and the £200bn quantitative easing programme could unleash a devastating surge in inflation. "If Goldman is right, then the Bank of England is currently in the midst of creating a massive policy error," he said. The row about how soon the bank's recession-busting measures should be withdrawn mirrors the dispute between Darling and his shadow, George Osborne, about how soon the economy could withstand savage spending cuts. The bank's governor, who will deliver the bank's quarterly inflation report on Wednesday, is expected to strike a cautious tone, after the monetary policy committee extended quantitative easing by £25bn last week. "There is a sense that the bank is nearing the point at which it will hit the pause button," said Peter Dixon, of Commerzbank. "Thus, the emphasis of the press conference is likely to be the extent to which the policy has been successful and the nature of the economic recovery from here." Bank of England Mervyn King Goldman Sachs Economics Office for National Statistics Economic policy Heather Stewart guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (23 h ago)

• Obama promises help as US unemployment r... Obama promises help as US unemployment rate hits 10%
11/06/2009
Infrastructure spending and tax cuts likely as official figures show October was the 22nd consecutive month of job cuts Barack Obama admitted today that the rise in US unemployment above 10% last month was "sobering" as fears grew that the worst jobless figures for 26 years would push the world's biggest economy back into recession. At the end of his toughest week since entering the White House in January, the president said he was looking at extra spending on infrastructure and tax cuts for business to safeguard America's fledgling recovery. The poor economic news from the US sent shudders through financial markets, with gold prices reaching a record high of just over $1,100 an ounce, crude oil dropping by $2 a barrel and the dollar under pressure on the foreign exchanges. Obama said the jobless figures underscored the challenges ahead for the American economy, which emerged from its deepest post-war downturn in the third quarter of the year. Despite the massive US budget deficit, the president promised to provide a fresh package of fiscal measures to boost growth. The Federal Reserve pledged this week to keep monetary policy loose for "an extended period". Monthly figures from the US department of labour revealed that employers cut a higher-than-expected 190,000 jobs in October, with the falls spread across the economy. Among the worst-hit sectors were construction, where employers cut 62,000 jobs in October, and manufacturing, where 61,000 positions disappeared. Retail lost 40,000 jobs and in the leisure industry, payrolls were reduced by 37,000. But education, health and professional services showed an increase in employment. The unemployment rate – which stood at 6.6% last October – increased from September's 9.8% to 10.2%, reaching its highest level since April 1983, a period when the Federal Reserve was using high interest rates to squeeze out inflation. Wall Street forecasters had expected job losses of closer to 175,000 and were hoping that the percentage rate of unemployment would remain in single figures. Nigel Gault, chief US economist at IHS Global Insight, described the unemployment rate as a "horrible number". "People were hoping there would be an upside surprise to this," said Gault. "What's happened is it's come out worse, so that's caught them on the wrong foot. They were leaning one way, and it's gone the other. Remember, we had a huge run-up in the market yesterday, a lot of optimism. So this throws a bit of cold water on that." David Resler, senior economist at Nomura Securities in New York, described the double-digit jobless rate as "really quite disheartening" and said he did not foresee any move by the Federal Reserve to raise interest rates for some time: "We don't see the Fed doing anything before the early part of 2011, and this simply reinforces that point." October was the 22nd consecutive month of job cuts in the US economy. The ongoing loss of employment comes despite a $775bn (£468bn) economic stimulus package by Obama in an attempt to kick-start activity, including the creation of work through public projects. Scott Paul, executive director of the Alliance for American Manufacturing, said: "No end is in sight for rising unemployment, which is grim news for American workers. Manufacturing must be the jobs engine that drives us out of the recession, but Washington is sitting on its hands while China and our other competitors in Asia and Europe invest heavily in clean energy and revitalising their industrial sectors. "We will consign an entire generation of young Americans to a declining standard of living unless we fight for new jobs. That means investing in infrastructure, balancing trade, leveraging tax dollars to create jobs in America, reinvesting in education, research and development, and freeing up capital for businesses." US unemployment and employment data US economy Barack Obama Global economy Global recession United States Andrew Clark Larry Elliott guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds (2 d ago)

• China's auto sales up 36% in first ten m... China's auto sales up 36% in first ten months
11/09/2009
China's auto sales rose 36 percent to 10.89 million units between January and October from the same period a year ago, the China Association of Automobile Manufacturers said Monday. &$ &$Source: Xinhua&$ &$ ... (1 h ago)

• China's auto market attracts software sy... China's auto market attracts software system firms
11/09/2009
The world's third-largest independent software company, Infor Global Solutions, is planning to expand its presence in China which is expected to surpass the United States to become the world's largest automobile market this year, China Daily reported Monday. Consumer demand for automobiles in China is also pushing up demand for software systems used by carmakers and parts suppliers, the newspaper said, citing Tobin Alexander, Infor's vice president for automotive industry sales in Japan ... (1 h ago)

• China's sovereign fund buys 15% shares o... China's sovereign fund buys 15% shares of U.S. power company
11/09/2009
China Investment Corporation (CIC), or the nation's sovereign fund said Monday it invests 1.58 billion U.S. dollars to buy 15 percent shares of the AES Corporation, a leading U.S. power company. &$ &$Source:Xinhua&$ &$ ... (1 h ago)

• Chinese shares end slightly higher Chinese shares end slightly higher
11/09/2009
Chinese equities closed slightly higher on Monday, with the benchmark Shanghai Composite Index up 11.55 points, or 0.36 percent, to close at 3,175.59. The Shenzhen Component Index gained 49.10 points, or 0.38 percent, to close at 13,036.30. Combined turnover shrank slightly to 255.50 billion yuan (37.57billion U.S. dollars) from 297.53 billion yuan on the previous trading day. Of the ChiNext market for start-up stocks, six out of total 28 were up. &$ &$Source:Xinhua ... (1 h ago)

• Trade finance situation in APEC to ease ... Trade finance situation in APEC to ease in next 6 months: survey
11/09/2009
A survey released in Singapore on Monday showed that 12 out of the 19 surveyed Asia-Pacific Economic Cooperation (APEC) economies expected that the trade financing situation should ease over the next six months. The survey, the second conducted in 2009, provided an indication of how the current trade finance situation has changed across APEC economies since the first survey in July. Of the surveyed economies, 12 said that the trade financing situation has improved since July. Th ... (1 h ago)

• Tokyo stocks close mixed for second stra... Tokyo stocks close mixed for second straight session
11/09/2009
Tokyo stocks ended mixed Monday for the second straight session, as the market is little affected by trading clues such as a weaker dollar vs yen. At closing, the benchmark Nikkei-225 index rose 19.64 points, or 0.20 percent, from Friday to 9,808.99. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 3.34 points, or 0.38 percent, to 870.67. In the most inactive day since Sept. 15, trading volume on the main section came to 1,609.47 mi ... (1 h ago)

• S Korea calls back GM Daewoo compact car... S Korea calls back GM Daewoo compact cars
11/09/2009
The South Korean government on Monday ordered GM Daewoo Auto & Technology Co. (GM Daewoo) call back around 32,000 compact cars for problems in seat belts. The action will affect a total of 32,272 vehicles of Lacetti Premier made from Nov. 5, 2008 to Sept. 10 this year, the Ministry of Land, Transport and Maritime Affairs said in a statement. Free repair services would be provided to owners of such vehicles at the company's service centers across the nation starting from Tuesday, ... (1 h ago)

• Who's richest in Obama's administration? Who's richest in Obama's administration?
11/09/2009
According to the Center for Responsive Politics (CRP), with an estimated net worth of 26.6 million U.S. dollars, Securities and Exchange Commission Chair Mary Schapiro is the richest top official in the Obama administration, while President Obama himself ranked 6th in the list with 3.7 million U.S. dollars. In the Obama administration, Secretary of State Hillary Clinton came in second at 21.5 million U.S. dollars and Attorney General Eric Holder was third with 11.5 million U.S. dollars. &$<c ... (1 h ago)

• S Korea, Turkmenistan agree to sign doub... S Korea, Turkmenistan agree to sign double-taxation avoidance agreement
11/09/2009
South Korea and Turkmenistan agreed to sign a double-taxation avoidance pact in a bid to promote bilateral investment and other exchanges, the Finance Ministry said on Monday. Following negotiations with its Turkmen counterpart, the two sides reached a preliminary agreement on the pact, which can enable the South Korean companies to evade double taxation on business profits, the ministry said in a statement. The ministry believed that the pact, once to be signed officially, will ... (1 h ago)

• Australian PM: Action taken to tackle ri... Australian PM: Action taken to tackle rising grocery prices
11/09/2009
Australian Prime Minister Kevin Rudd said on Monday the federal government had already done plenty to increase competition in the grocery business. Rudd was responding to reports the cost of groceries in Australia was rising exponentially. According to Organization for Economic Cooperation and Development (OECD) figures, Australian grocery prices have risen 41.3 percent since 2000 - faster than Britain's 32.9 percent or America's 28.4 percent. The government has come unde ... (1 h ago)

• ASEAN supports SOP making for crisis mit... ASEAN supports SOP making for crisis mitigation: secretary general
11/09/2009
The Association of the Southeast Asia Nations (ASEAN) supports the making of the standard operating procedure (SOP) for crisis mitigation in the region, the top official of the body said in Jakarta on Monday. "Since the tsunami disaster on December 2004, we still don't have an SOP for crisis mitigation. It's very important to make since we have many natural disasters recently in our territory," said the ASEAN's Secretary General Surin Pitsuwan told ambassadors for the body in a briefing. ... (1 h ago)

• Malaysia to develop suburbs to ease urba... Malaysia to develop suburbs to ease urban congestion
11/09/2009
The Malaysian government will strive to create job opportunities and develop industries on the outskirt of urban areas to ease congestion, a Malaysian official said in Kuala Lumpur on Monday. Malaysian Housing and Local Government Minister Kong Cho Ha told a press conference after opening the World Habitat Day 2009 and World Town Planning Day 2009 that the move would lower the urbanization rate in the country. Kong said that Malaysia's urbanization rate had risen from 55.1percent ... (1 h ago)

• Jobless: 10 percent is tougher than it u... Jobless: 10 percent is tougher than it used to be
11/09/2009
It hurts more now to be unemployed than the last time the jobless rate hit 10 percent, what with higher rates of indebtedness, less than half the savings and ballooning health costs. (1 h ago)

• GE, Comcast agree on NBC Universal’s wor... GE, Comcast agree on NBC Universal’s worth
11/09/2009
General Electric Co. and Comcast Corp have agreed on a valuation of around $30 billion for NBC Universal. (1 h ago)

• Wall Street awaits stores’ reports this ... Wall Street awaits stores’ reports this week
11/08/2009
Investors will get some guidance about the economy this week from data issued not by the government, but by big retailers in the form of third-quarter earnings reports. (2 h ago)

• Cost of gas nudges up 2 cents in last tw... Cost of gas nudges up 2 cents in last two weeks
11/08/2009
The average price of regular gasoline in the United States has jumped 2.86 cents over a two-week period to $2.68. (3 h ago)

• Aging bull? Stocks may be in for rough r... Aging bull? Stocks may be in for rough ride
11/08/2009
Stock market volatility is back, a signal to some experts that the powerful rally that started in early March may be coming to an end. (5 h ago)

• How to ignore grocery stores’ covert mar... How to ignore grocery stores’ covert marketing
11/08/2009
If you ever leave the grocery store with a slight sense of bewilderment at what you've just bought, you are not alone. (6 h ago)

• China promises billions in aid, loans to... China promises billions in aid, loans to Africa
11/08/2009
China's premier pledged $10 billion in concessional loans to African nations and said Beijing would cancel the government debts of some of the poorest of those countries (12 h ago)

• What automakers have in store for 2010 What automakers have in store for 2010
11/07/2009
Despite the slow economy and even slower auto sales, a wide range of new cars is waiting on the other side of 2009. (1 d ago)

• Could health care reform lead to hidden ... Could health care reform lead to hidden taxes?
11/07/2009
To pay for the near trillion-dollar health-care system overhaul, many outside the White House believe the middle class will not be spared when it comes to hidden taxes. (1 d ago)

• Berkshire Hathaway's profit triples Berkshire Hathaway's profit triples
11/06/2009
Warren Buffett's company said that its third-quarter profit tripled as the improving economy and stock market boosted the value of Berkshire Hathaway's derivative contracts. (2 d ago)

• Best of both worlds? Combined pension/40... Best of both worlds? Combined pension/401k
11/06/2009
An alternative retirement plan may become available in January offers a guaranteed pension-like retirement benefit alongside a 401(k). (2 d ago)

• $5 footlongs turbocharge Subway $5 footlongs turbocharge Subway
11/06/2009
The idea of Miami Subway franchisee for $5 footlongs unexpectedly morphed from a short-term gimmick into a national phenomenon that has turbocharged the chain's performance. (2 d ago)

• You’ve seen the TV ads. So what’s Ally B... You’ve seen the TV ads. So what’s Ally Bank?
11/06/2009
Ally Bank's advertising tactics have drawn in customers, but they've also irked rivals and gotten the attention of regulators. And here's why. (2 d ago)

• Homebuilders hunting for land again Homebuilders hunting for land again
11/06/2009
The housing bust left homebuilders with plenty of red ink on their books. But now they are on the hunt again, vying for choice parcels where prices are cheap. (2 d ago)

• When unemployment last topped 10 percent When unemployment last topped 10 percent
11/06/2009
The last time unemployment climbed past 10 percent, "The A-Team" was one of the top 10 TV shows and Michael Jackson was about to release "Thriller." (2 d ago)

• Obama signs homebuyer, jobless bill assi... Obama signs homebuyer, jobless bill assistance
11/06/2009
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to homebuyers and additional jobless benefits to those idled by the business slump. (2 d ago)

• Easing job losses point to wobbly recove... Easing job losses point to wobbly recovery
11/06/2009
The economy is still shedding jobs, but at a much slower pace than earlier this year, the government reported. That bolsters the view that the economy is making a slow but steady recovery. (2 d ago)

• Wal-Mart, Amazon, Target in DVD price wa... Wal-Mart, Amazon, Target in DVD price war
11/06/2009
Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books. (2 d ago)

• Who’s your patty? Not McDonald’s Who’s your patty? Not McDonald’s
11/06/2009
A Minnesota hamburger parlor and McDonald's Corp. have settled a federal lawsuit over the phrase, "Who's your patty?" (2 d ago)

• A Netflix Model for Haute Couture A Netflix Model for Haute Couture
11/09/2009
Rent the Runway wants to do for high-end fashion what Netflix has done for movies by offering a simple mail-order system. (1 h ago)

• A Movie’s Budget Pops From the Screen A Movie’s Budget Pops From the Screen
11/09/2009
Just in case box-office receipts for “Avatar” fall short, Fox has worked hard to hedge its large bet on the movie. (1 h ago)

• News Analysis: Medical Industry Grumbles... News Analysis: Medical Industry Grumbles, but It Stands to Gain
11/09/2009
Many analysts say the House bill is not as bad for business as many in the health care industry might have feared when the overhaul effort began. (1 h ago)

• Sober Mood at New York Post as Circulati... Sober Mood at New York Post as Circulation Spirals Lower
11/09/2009
Nearly every paper in America has lost circulation, but The New York Post more than most — down almost 30 percent in 2.5 years. (1 h ago)

• Green Inc. Column: Balancing Energy Need... Green Inc. Column: Balancing Energy Needs and Material Hazards
11/09/2009
Companies that make ultrathin solar panels using a toxic compound are watching nervously as the European Union considers expanding a ban on such materials in electrical components. (1 h ago)

• Gridiron Gladiators: Block That Metaphor... Gridiron Gladiators: Block That Metaphor!
11/09/2009
“Fox NFL Sunday,” which was broadcast from Bagram Air Field in Afghanistan, glorified fake warriors and their game, and played to a crowd of real warriors locked in an eight-year-old conflict. (1 h ago)

• A Magazine Promises Ads Will Register A Magazine Promises Ads Will Register
11/09/2009
If an ad in the magazine fails to land in the top third for recall by readers in a survey, the publisher will run it over until it does. (1 h ago)

• The Media Equation: News Erupts, and So ... The Media Equation: News Erupts, and So Does a Web Debut
11/09/2009
As major news erupted in Texas, a new 12-person Web-based newsroom had its debut as a nonprofit covering state government. (1 h ago)

• John Mashek, Veteran Political Reporter,... John Mashek, Veteran Political Reporter, Is Dead at 77
11/07/2009
Mr. Mashek was a reporter and columnist for nearly half a century for U.S. News & World Report, The Boston Globe and other publications. (1 d ago)

• Talk to The Times: The Choice Blog Talk to The Times: The Choice Blog
11/06/2009
Jacques Steinberg is answering questions from readers. (2 d ago)

• Al Gore, climate change profits and civi... Al Gore, climate change profits and civil disobedience
11/09/2009
Plenty has been written about Al Gore making mega profits out of global warming. As the New York Times reported last week, as a partner in Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers, he has cleaned up big time with its investments in smart electricity grids. That's on top of his companies focused on bio-fuels, sustainable fish farming, electric vehicles and solar power. And then there is London-based Generation Investment Management which he runs with David Blood. As the Telegraph in London ... (1 h ago)

• Goldman Sachs and God Goldman Sachs and God
11/09/2009
Hard to go past this interview with Goldman Sachs boss Lloyd Blankfein in The Times where he claims bankers are doing "God's work"."We’re very important," Blankfein says. "We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It’s a virtuous cycle. We have a social purpose."A social purpose? This is a spokesman for the banks that have destroyed so much wealth, that have put ... (1 h ago)

• Galleon scandal: just the beginning? Galleon scandal: just the beginning?
11/08/2009
The biggest prosecution of hedge fund insider trading went into overdrive this week with 20 people, including Galleon Group LLC co-founder Raj Rajaratnam, getting hauled up on criminal charges. Bloomberg has the rogue's gallery of all the names of the people behind the insider trading. We can expect a debate over the next few months over whether insider trading should even be a criminal offense. James Altucher writes in the Huffington Post that maybe insider trading shouldn't even be illegal, claiming that it ... (14 h ago)

• MBA turkeys and the market MBA turkeys and the market
11/08/2009
Earlier this year, I did a blog entry slating the business schools for helping create the market meltdown. The Women on the Web site followed up with a brilliant roll call of MBAs, or Masters of the Business Apocalypse, from Harvard. The rogue's gallery includes former Merrill Lynch CEO Stanley O'Neal and his successor John Thain, bank bail out master Henry Paulson, former chairman of the Securities and Exchange Commission Christopher Cox, former Fannie Mae CEO Franklin Raines and his successor Daniel Mudd and ... (17 h ago)

• Why Facebook is for old farts: the demog... Why Facebook is for old farts: the demographics of social networking
11/07/2009
Earlier this year, we had the shocking news that the fastest growing group of Facebook users were the 55-plus age group. In a space of just six months, they had increased a whopping 513%. Time Magazine's Lev Grossman came up with reasons why Facebook was for old farts: Facebook is for finding people you've lost track of, by the time you're in your 50s, you're no longer bitter and twisted about high school (if you can remember any of it), you're at an age ... (1 d ago)

• Unemployment and the failed stimulus Unemployment and the failed stimulus
11/06/2009
Back in January, US unemployment was sitting at 7.2% and commentators were saying a stimulus package would fix everything. It hasn't. The latest appalling figures show that US unemployment has hit 10.2%, a 26-year high. Worse still, the total unemployment figure including people who have either been forced to work part time or who have given up looking for work is now 17.5%.Clearly, the stimulus package isn't working. One reason is the problem with all government spending packages - it takes too long for the ... (2 d ago)

• The psychology of climate change The psychology of climate change
11/06/2009
Why is it that we struggle to get change their lifestyles to reduce their greenhouse gas emissions. Maybe it has something to do with the psychology of climate change.New Scientist has some fascinating research showing that people really want to belong, they don't want to too different from the crowd and that has affected how they will go about reducing emissions. In one experiment, for instance, people cut their electricity usage when they were told that their neighbors used less than they did. In ... (2 d ago)

• Facebook and scammers Facebook and scammers
11/06/2009
Facebook has announced in its developer's blog that it is cracking down on scammers. It's not before time, given the publicity and uproar. We've had instances like phishing campaigns where users are robbed of their Facebook user names and passwords, we've had instances where users have been fooled into revealing their passwords and downloading a Trojan that steals financial data. And the list goes on.So while Facebook isn't saying it, the response seems to be very much about damage control following all the bad ... (2 d ago)

• Video: Bull-Riding, Sport Rising Video: Bull-Riding, Sport Rising
11/09/2009
In the sport of bull-riding, hanging on can mean a big payday. As Hari Sreenivasan reports, professional bull riding is becoming one of the fastest-growing sports in the country. (1 h ago)

• Video: Holy Fashion Video: Holy Fashion
11/08/2009
A Parish Priest in NYC is beginning to make his name in the world of high-end fashion and also do some good at the same time. Bianca Solorzano has the story of this runaway priest. (21 h ago)

• Video: Idea to Fight Unemployment Video: Idea to Fight Unemployment
11/08/2009
As unemployment continues to rise, one proposed remedy for skyrocketing unemployment involves offering an incentive to employers. As Bill Plante reports, this idea could create a lot of new jobs. (21 h ago)

• FDIC Takes Over 5 More Banks FDIC Takes Over 5 More Banks
11/07/2009
Brings Total Bank Failures this Year to 120 (1 d ago)

• Video: Job Growth On Rebound? Video: Job Growth On Rebound?
11/07/2009
Nearly 16 million Americans are unemployed and economists estimate it will take five years or more to replace jobs lost in this recession. But, as Anthony Mason reports, there are encouraging signs. (1 d ago)

• Unemployment Rate Soars Past 10 Percent Unemployment Rate Soars Past 10 Percent
11/07/2009
10.2% Jobless Rate the 1st Double-Digit Figure Since 1983; Employers Slash 190,000 Jobs in October (1 d ago)

• AIG Earns Profit for 2nd-Straight Quarte... AIG Earns Profit for 2nd-Straight Quarter
11/06/2009
Bailed Out Insurance Giant Stabilizing as Company Undergoes Restructuring Plan (2 d ago)

• Obama to Sign $24B Economic Stimulus Bil... Obama to Sign $24B Economic Stimulus Bill
11/06/2009
Legislation Will Extend Tax Rebates for Homebuyers, Unemployment Benefits, Business Tax Breaks (2 d ago)

• Small Talk: News you haven't heard Small Talk: News you haven't heard
11/06/2009
Say goodbye to the headlines and the top stories. Brendan Newnam and Rico Gagliano find out what news items Marketplace staffers have noticed, but that you've likely not heard. (2 d ago)

• Tracks hope jockeys can whip up fans Tracks hope jockeys can whip up fans
11/06/2009
Horse racing tracks around the nation have been fighting declining attendance for years. Now they're betting on the little guys to help them launch a comeback. Andrea Gardner reports. (2 d ago)

• Oprah deciding about show on her OWN Oprah deciding about show on her OWN
11/06/2009
Oprah Winfrey reportedly is considering moving her daytime show from broadcast channels to her new cable channel, OWN. The New York Times's Bill Carter discusses with Kai Ryssdal the risks and rewards she faces. (2 d ago)

• The Weekly Wrap The Weekly Wrap
11/06/2009
Kai Ryssdal talks with Felix Salmon from Reuters and Leigh Gallagher from Fortune magazine to make some sense of the week on Wall Street and beyond. (2 d ago)

• Need work? Trying making your own. Need work? Trying making your own.
11/06/2009
How do you find a job in today's economy when most companies aren't hiring and few jobs are being created? Commentator Charles Handy says the thing to do is make your own work. (2 d ago)

• Would Russian bonds be worth the risk? Would Russian bonds be worth the risk?
11/06/2009
A lot of people lost their shirts 11 years ago when Russia defaulted on its debt. So some eyebrows have been raised by the Russian finance minister's talk of issuing almost $18 billion in bonds next year. Ashley Milne-Tyte reports. (2 d ago)

• Every penny counts in online retail wars Every penny counts in online retail wars
11/06/2009
Wal-Mart, Target and Amazon are continuing their online pricing battles. The subject of this week's contest? DVDs. And the back-and-forth is down to the penny. Jeremy Hobson reports. (2 d ago)

• Job losses keep going and going . . . Job losses keep going and going . . .
11/06/2009
Pretty much any way you look at it, we're in the worst job market this country has seen in 26 years. The unemployment rate hit 10.2% in October, and silver linings are hard to find. Steve Henn reports. (2 d ago)

• The Haggler: Well, at Least the Phone Wo... The Haggler: Well, at Least the Phone Works Fine
11/08/2009
The Haggler enters the worlds of appliance repair and warranty management. (18 h ago)

• Mortgages: HUD Combats Discrimination Mortgages: HUD Combats Discrimination
11/08/2009
The federal government is poised to enact rules to combat discrimination on loans backed by the Federal Housing Administration. (19 h ago)

• U.S. Unemployment Rate Hits 10.2%, Highe... U.S. Unemployment Rate Hits 10.2%, Highest in 26 Years
11/07/2009
The number of unemployed rose to 15.7 million in October, as 190,000 nonfarm jobs were lost, the government said, and economists do not expect relief until next year. (1 d ago)

• Shortcuts: Bridging the Workplace Genera... Shortcuts: Bridging the Workplace Generation Gap: It Starts With a Text
11/07/2009
The book “How Not to Act Old” has some tips to help the 40-plus crowd communicate with younger co-workers. (1 d ago)

• U.S. Readies Jobless Aid and Help on Hom... U.S. Readies Jobless Aid and Help on Homes
11/07/2009
The White House said that President Obama would sign the measure, which passed after weeks of delay. (1 d ago)

• Patient Money: In Anxious Times, Medical... Patient Money: In Anxious Times, Medical Help for the Mind as Well as the Body
11/07/2009
A new law requires that next year big group plans provide the same level of care for mental health as for medical ones. (1 d ago)

• Your Money: Money Issues That Can Test E... Your Money: Money Issues That Can Test Even a Rock-Solid Marriage
11/07/2009
Money may be the root of all evil, and in a marriage it can certainly be the seed of trouble. Here are five things couples should do to sidestep difficulties. (1 d ago)

• Sponsored By: Sponsored By:
11/07/2009
(1 d ago)

• Yacht broker gets 2 months prison in UBS... Yacht broker gets 2 months prison in UBS case
11/06/2009
A Florida yacht broker who admitted filing a false U.S. tax return and concealing millions of dollars in a secret account at Swiss bank UBS AG was sentenced to two months in prison. (2 d ago)

• Video: Elevator Pitch: Nomie Baby Video: Elevator Pitch: Nomie Baby
11/08/2009
Nov. 8: Moms and dads, listen up! There's a new product on the market to help keep your baby's car seat clean. Katie Danziger of Nomie Baby finds out if our panel goes "ga ga" over her pitch. (MSNBC) (4 h ago)

• Video: Small Business Inspiration: 'Ten9... Video: Small Business Inspiration: 'Ten9Eight'
11/08/2009
Nov. 8: A new documentary is out about the lives of students from low-income areas who are learning what it takes to be an entrepreneur. The unique, school-based program allows students to pitch business plans and more! Mary Mazzio, director & producer of "Ten9Eight," and Rahfeal Gordon, one of the students featured in the film, talk about the movie and the impact the program is having on young people's lives. (MSNBC) (4 h ago)

• Video: Business Answers: To cut or not t... Video: Business Answers: To cut or not to cut
11/08/2009
Nov. 8: Colleen DeBaise, small business editor at the Wall Street Journal, and Michael Goldberg, managing partner with Bridge Investment Fund and adjunct professor of banking and finance at Case Western Reserve University, answer viewer questions about the best way to make cuts and how to keep a happy home life while running a business. (MSNBC) (5 h ago)

• Video: Small Business Health: Swine Flu Video: Small Business Health: Swine Flu
11/08/2009
Nov. 8: If certain state and federal lawmakers have their way, some business owners could be forced to pay their employees for sick days. With concerns about swine flu, entrepreneurs are examining their books to see if they can handle such payments. Karen Harned, the executive director of the NFIB Small Business Legal Center, and Dr. Georges Benjamin, executive director of the American Public Health Association, talk about the consequences of the proposed mandate. (MSNBC) (5 h ago)

• You’re fired! How to get rid of bad cust... You’re fired! How to get rid of bad customers
11/06/2009
Entrepreneurs show clients the door for many reasons, especially if they are unprofitable or a pain to deal with. (2 d ago)

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• Eight New Insider Trading Arrests, Fourt... Eight New Insider Trading Arrests, Fourteen Total
11/06/2009
The SEC’s ongoing investigation of insider trading at hedge funds and stock trading firms has brought allegations against 14 Wall Street professionals. The charged defendants include hedge fund managers and trading firm executives, lawyers and corporate insiders. Five of the charged defendants previously pleaded guilty to insider trading charges in Manhattan federal court. The defendants collectively are charged with allegedly participating in insider trading schemes that generated more than $20 million in illegal profits. “If you talk on the phone, we may be listening, there’s always ... (2 d ago)

• Fall Hedge Fund Networking Event At Nikk... Fall Hedge Fund Networking Event At Nikki Midtown
11/06/2009
Yesterday's Fall Networking Event attracted 200+ investors, hedge fund managers, and other industry professionals for a night of food, drink, music and mingling with other members of the alternative investments community at the Nikki Midtown. There was a raffle for two Watch Logic signature watches, one round trip ticket anywhere in the US by American Airways and two units for an unescorted foursome of golf at any of the 300 plus private clubs in the TOUR GCX network. All proceeds were donated to Hedge Funds Care. “We ... (2 d ago)

• The Count: Small Businesses Hunker Down ... The Count: Small Businesses Hunker Down to Survive
11/08/2009
Small businesses have cut overhead, payroll and advertising to achieve rising profits in spite of the downturn. (18 h ago)

• Motivating people: Getting beyond money Motivating people: Getting beyond money
11/06/2009
The economic slump offers business leaders a chance to more effectively reward talented employees by emphasizing nonfinancial motivators rather than bonuses. A recent McKinsey survey indicates that executives find some nonmonetary rewards motivate employees better than cash bonuses do. See what they are, then let us know what's working in your organization. Read more on the McKinsey Quarterly > Topics: Governance Organization Surveys (2 d ago)

• Seen that? - A Question Of Ethics Seen that? - A Question Of Ethics
11/07/2009
A Question Of Ethics at Bizinformer This morning's The WallStreet Journal has a cover article (subscription required) about the prescription drug trade, Internet marketing of said drugs, and the entrepreneurs that profit from differing laws between countries regarding prescription drug access. This post ... (1 d ago)

• Your Career: Working with your spouse Your Career: Working with your spouse
11/08/2009
Divorce can be hell, but it can be even more hellish if the husband and wife work together. (31 m ago)

• Encouraging economic reports drive gains Encouraging economic reports drive gains
11/08/2009
U.S. stocks rose last week, breaking a two-week losing streak, as worker productivity, manufacturing and home-sales figures beat economists' projections and Warren E. Buffett's Berkshire Hathaway made its biggest purchase ever. (19 h ago)

• Seen that? - Silicon Valley Bank Bridges... Seen that? - Silicon Valley Bank Bridges Sandhill Road and Shanghai
11/09/2009
Silicon Valley Bank Bridges Sandhill Road and Shanghai at China Venture News China remains red hot among venture capitalists from Silicon Valley and the Sandhill Road VCs favorite banker, Silicon Valley Bank has made it much easier for them with their announcement of ... (1 h ago)

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