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Business News
for 02/02/2010

(last updated 7:30am EST 02/02/2010)

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• With Eye on Its Reputation, Toyota Issue... With Eye on Its Reputation, Toyota Issues Repair for Pedal
02/02/2010
The Toyota executive in charge of quality control said Tuesday that the company expected to see sales slow as a result of the recall and suspension of sales. (3 h ago)

• European Stock Markets Rally for Second ... European Stock Markets Rally for Second Day
02/02/2010
Strong manufacturing surveys from around the world lifted investor optimism. (3 h ago)

• BP Profit Slips in Quarter but Productio... BP Profit Slips in Quarter but Production Is Up
02/02/2010
The British oil company reported a $4.3 billion fourth-quarter profit, down from the previous quarter, and said its production had outpaced expectations in 2009. (3 h ago)

• Exxon Grew as Oil Industry Contracted Exxon Grew as Oil Industry Contracted
02/02/2010
The company, which reported lower earnings, has taken advantage of the recession to buy rivals and increase operations. (3 h ago)

• Curveball Alters Talks on Wall St. Refor... Curveball Alters Talks on Wall St. Reform
02/02/2010
President Obama’s calls to tax and curb the activities of Wall Street have thrown an unpredictable element into the debate over financial regulatory reform. (4 h ago)

• Itineraries: Bonus Miles Expand, but Fli... Itineraries: Bonus Miles Expand, but Flight Upgrades Are Squeezed
02/02/2010
More elite fliers are competing for fewer seats in the front of the plane. (4 h ago)

• In Europe, Challenges for Google In Europe, Challenges for Google
02/02/2010
On issues like privacy, copyright protection and the dominance of its search engine, Google is increasingly clashing with lawmakers and regulators. (4 h ago)

• South Korea Fund Buys Stake in Gatwick A... South Korea Fund Buys Stake in Gatwick Airport
02/02/2010
South Korea’s National Pension Service said it would buy a small stake in Gatwick Airport in London as it seeks to increase its investments abroad. (6 h ago)

• News Analysis: Huge Deficits May Alter U... News Analysis: Huge Deficits May Alter U.S. Politics and Global Power
02/02/2010
Projections suggest there is virtually no room over the next decade for new domestic initiatives for President Obama or his successors. (7 h ago)

• Georgian TV Channel Says Russian Company... Georgian TV Channel Says Russian Company Elbowed It Off the Air
02/01/2010
The broadcaster accused a French satellite operator of caving into pressure by allowing the Russian company to buy out the spectrum on one of its television satellites. (8 h ago)

• China Urged to Run Budget Deficits, Free... China Urged to Run Budget Deficits, Free Yuan
02/01/2010
The Organisation for Economic Cooperation and Development said Tuesday that China needs to run a continued fiscal deficit and let its real exchange rate rise. (8 h ago)

• Australia Unexpectedly Holds Interest Ra... Australia Unexpectedly Holds Interest Rates
02/01/2010
The Australian central bank kept the key interest rate at 3.75 percent on Tuesday, surprising analysts who expected another small increase to curb inflation. (9 h ago)

• Cloudy Future for Fannie and Freddie Cloudy Future for Fannie and Freddie
02/01/2010
The Great Bailout is mostly over for the banks. For Fannie Mae and Freddie Mac, the lifeline keeps getting longer. (9 h ago)

• A Little Chip Designed by Apple Itself A Little Chip Designed by Apple Itself
02/01/2010
With the A4 chip, Apple has challenged the norms of the mobile device industry, where chip design is usually left to microprocessor companies. (9 h ago)

• Hacking for Fun and Profit in China’s Un... Hacking for Fun and Profit in China’s Underworld
02/01/2010
A young hacker let a reporter into his world of trolling for information that may one day be worth money. (10 h ago)

• China's New Travelers Aren't Far From Ho... China's New Travelers Aren't Far From Home
02/01/2010
Spurred by a mix of middle-class money, government support and interest in rediscovering China, its domestic tourism market is beating predictions and bucking global trends. (10 h ago)

• Trial to Open in Concorde Disaster Trial to Open in Concorde Disaster
02/01/2010
Nearly 10 years after a Concorde jet crashed on take-off from Paris, Continental Airlines and five individuals are due to stand trial Tuesday in a French criminal court. (10 h ago)

• Farm Subsidy Battles: A Fighter Looks Ba... Farm Subsidy Battles: A Fighter Looks Back
02/01/2010
Mariann Fischer Boel is preparing to step down as Europe’s agricultural commissioner after five years of struggling to cut back the most generous farm subsidy system in the world. (10 h ago)

• France Telecom’s to Split Top Management... France Telecom’s to Split Top Management Posts
02/01/2010
France Telecom said its chairman and chief executive, Didier Lombard, had proposed to hand his role as chief executive over to Stephane Richard. (11 h ago)

• Answers to Questions About Toyota’s Repa... Answers to Questions About Toyota’s Repair Plans
02/01/2010
Some details on which cars are involved and what Toyota is telling customers about protecting themselves and getting the problem fixed. (11 h ago)

• Hong Kong stocks close up 0.14% Hong Kong stocks close up 0.14%
02/02/2010
Hong Kong stocks moved up 28.43 points, or 0.14 percent, to close at 20,272.18 on Tuesday. The benchmark Hang Seng Index opened 0.93 percent higher at 20, 432.96 on Tuesday. It traded between 20,181.28 and 20,533.96 during the day's session. Turnover totaled 62.44 billion HK dollars (8.05 billion U.S. dollars), compared with Monday's 67.13 billion HK dollars (8.67 billion U.S. dollars). The Hang Seng China Enterprises Index fell 51.29 points, or 0. 44 percent, to close at 11,570.35. ... (1 h ago)

• 85% of netizens call for strengthened co... 85% of netizens call for strengthened control over housing prices
02/02/2010
The housing prices topic is ranked third in the top ten focused topics survey held by the People's Daily Online and the politics and culture department of People's Daily for the upcoming "Two Sessions" (the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference). 85 percent of netizens surveyed called on the government to strengthen control over housing prices. In addition, 70 percent of the netizens surveyed agreed with some experts' v ... (1 h ago)

• Bank of Taiwan opens office in Shanghai Bank of Taiwan opens office in Shanghai
02/02/2010
Bank of Taiwan office in Shanghai officially opened February 1, 2010. The office chief representative Yan Guitian said that striving to make this office a branch of Bank of Taiwan was an important future goal and he hoped that signing the cross-Strait economic cooperation agreements will help shorten the process. The Bank of Taiwan is Taiwan's leading bank. The establishment of the Bank of Taiwan Shanghai office is seen as opening a new page in cross-Strait financial cooperation. However, in ... (1 h ago)

• S Korean financial firms see jump in sho... S Korean financial firms see jump in short-term overseas borrowing
02/02/2010
South Korean financial firms saw a jump in short-term borrowing during the August-December period of 2009 as the global financial crisis waned, the central bank said Tuesday. According to data compiled by the Bank of Korea (BOK) and related institutions, short-term overseas borrowing by local financial institutions posted a net inflow of 10.8 billion U.S. dollars from August to December, rebounding from a net outflow of 7.01 billion dollars during the first seven months of 2009. Monthly vo ... (1 h ago)

• Beijing Dalong Estate slumps on loss of ... Beijing Dalong Estate slumps on loss of right to buy land
02/02/2010
Shares of Beijing Dalong Weiye Real Estate Development tumbled by its daily limit of 10 percent Tuesday after Beijing Municipal Bureau of Land and Resources revoked its right to buy a piece of residential land Monday. With the slump, Dalong Estate's market value stood at 6.4 billion yuan (937 million U.S. dollars). In Monday's statement, Beijing Municipal Bureau of Land and Resources also said it had retained a 200-million-yuan bidding deposit from Dalong Estate, a Shanghai-listed develope ... (1 h ago)

• Japanese stocks rebound on weaker yen, W... Japanese stocks rebound on weaker yen, Wall Street rally
02/02/2010
Japanese stocks rebound sharply Tuesday, lifted by upbeat U.S. manufacturing data which sent Wall Street to rally and led to a weaker yen. The benchmark 225-issue Nikkei Stock Average rose 166.07 points, or 1.63 percent, from Monday to 10,371.09. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 14.21 points, or 1.58 percent, to 912. 82. Trading was relatively thin with volume on the main section coming to 1,876.43 million shares, down from Monday's ... (1 h ago)

• China imposes anti-dumping measures on t... China imposes anti-dumping measures on terephthalic acid from Thailand, ROK
02/02/2010
China's Ministry of Commerce (MOC) said Tuesday that it would impose temporary anti-dumping measures on terephthalic acid imported from Thailand and the Republic of Korea (ROK). The preliminary ruling required importers of terephthalic acid from Thailand and the ROK to place deposits starting Wednesday, said a statement on the MOC website. The statement said companies from those two countries had dumped terephthalic acid on the Chinese market, caused substantial damage to China's domestic ... (1 h ago)

• New vehicle sales in Peru may increase i... New vehicle sales in Peru may increase in 2010
02/02/2010
New vehicle sales in Peru may grow 10 to 15 percent this year, said Euromotors, a big auto dealer, on Monday. Gonzalo Oviedo, manager of Euromotors, said the government investment plan may lead to an increase of sales of new vehicle, though the sales dropped last year because of the global finance crisis. According to the Peruvian Association of Automobile Representatives, sales of new vehicles were 76, 932 units in 2009, a drop of 16.8 percent from the previous year. However, the globa ... (1 h ago)

• China shares close lower amid weak marke... China shares close lower amid weak market confidence
02/02/2010
Chinese equities continued the downward trend of the previous two trading days and closed lower Tuesday, led by property and agricultural large-cap shares, as investor confidence remained weak, dealers said. The benchmark Shanghai Composite Index lost 0.23 percent, or 6.65 points, to close at 2,934.71 points. The Shenzhen Component Index edged down 0.64 percent, or 76.18 points, to close at 11,912.93 points. Losers outnumbered gainers by 540 to 322 in Shanghai and 540 to 293 in Shenzhen ... (1 h ago)

• Capital formation contributes 92% of Chi... Capital formation contributes 92% of China's GDP growth in 2009
02/02/2010
In 2009, capital formation contributed 8 percentage points, or 92 percent, of China's GDP growth, according to the latest date released by the National Bureau of Statistics (NBS) February 2. Capital formation includes infrastructure investment as well as total stock. During the same period, retail sales contribute 52.5 percent of China's economic growth and pushed up the GDP growth rate by 4.6 percentage points. Net export, however, dragged China's GDP growth down by 3.9 percentage points. ... (1 h ago)

• Free Wi-Fi in McDonald's Free Wi-Fi in McDonald's
02/02/2010
Still feel the itch to enjoy Starbuck's free Wi-Fi? Now there are more places to go as fast-food chain McDonald's launches its new restaurant image. In 2010, McDonald's will speed up the "restaurant's image upgrading". Their target is by the end of this year more than half of its restaurants in China, and in three years more than 80 percent of restaurants will be completely the upgraded. Staff uniforms at McDonald's restaurants have a new look. McDonald's (China) Co., Ltd. Vice President M ... (1 h ago)

• China's PCT application volume enters gl... China's PCT application volume enters global top 5
02/02/2010
Reporters learned from the director-generals conference held by the State Intellectual Property Office that China received 977,000 patent applications in 2009, up 18 percent year-on-year. The application volume of China's domestic invention patents reached another high-level, and accounted for 73 percent of the total invention application volume. The amount of patent cooperation treaty (PCT) applications from China reached 8,000, ranking among the top-5 in the world. Chinese enterprises are ... (1 h ago)

• Australian Reserve Bank keeps rate on ho... Australian Reserve Bank keeps rate on hold
02/02/2010
The Reserve Bank of Australia (RBA) on Tuesday decided to keep the official cash rate on hold at 3.75 percent, surprising most analysts. Economists had widely expected the central bank to raise the cash rate by a further 25 basis points on top of its three consecutive moves late last year. However, RBA governor Glenn Stevens said a rise this month was not deemed to be appropriate, given stronger than expected domestic economic conditions and previous moves by lenders to raise their rates b ... (1 h ago)

• Labor statistics show tough year for Jap... Labor statistics show tough year for Japan in 2009
02/02/2010
Japan saw its wages, overtime hours, bonuses and full-time workforce decline in 2009, according to statistics released by the Ministry of Health, Labor and Welfare on Tuesday. Total cash earnings declined by a record 3.9 percent over the course of the year, with overtime pay down by 13.5 percent and real wages down by 2.9 percent. Special cash earnings, often paid in Japan through bonuses in the winter and summer, also declined by 12.1 percent. The number of hours worked was also down by 2.9 ... (1 h ago)

• Brazil registers $166 mln trade deficit ... Brazil registers $166 mln trade deficit in January
02/02/2010
Brazil registered a trade deficit of 166 million U.S. dollars in January, down 67.1 percent from the 529 million dollar deficit registered in the same period in 2009, the country's Development, Industry and Trade Ministry announced Monday. It was the first trade deficit registered in a year. The country had a trade surplus of 2.178 billion dollars in December 2009. Exports reached about 11.3 billion dollars in January, with an average of 565.3 million dollars per business day, down 14 perc ... (1 h ago)

• George Osborne sets out economic benchma... George Osborne sets out economic benchmarks to judge Tory government
02/02/2010
Shadow chancellor says choice at next election is five more years of Gordon Brown or getting Britain back on its feet George Osborne today set out eight "clear and transparent benchmarks for Britain" against which he said the public could judge the success or failure of a Conservative government. The shadow chancellor said the choice for voters at the general election would be "five more years of Gordon Brown or the chance to get Britain back on its feet" as he unveiled "a new economic model for growth" under the Tories. "As the last major economy out of recession, and with the weakest recovery in the G20, we need change to get our country back on its feet again," he said. "We cannot go on with the old economic model of the last decade. A model that depended on a public spending boom we couldn't afford, an overblown banking sector and unsustainable consumer borrowing off the back of a housing bubble. "These were the shaky foundations of the age of irresponsibility that left Britain so badly exposed to this economic crisis. They cannot be the sources of sustainable growth for the future." The Tory model sets out our plans for a private sector recovery driven by business investment and exports, instead of consumer borrowing and government debt, he said. Proposals include improving Britain's international ranking for tax competitiveness and business regulation, and building a "saving society'. "These benchmarks will enable you to judge if we are going in the right direction," he said at a press conference at the British Museum. "We are seeking to establish a big economic argument about where growth will be coming from." Osborne said the Conservatives were setting themselves the "tough test" of eliminating a large part of the structural deficit in a first parliament. In comments that appeared to be part of the Tories' recent softened approach to cuts in the first year of government, Osborne said the Conservatives would "make a start" in denting the deficit in 2010. Until last week, the Tory pledge to start making cuts in 2010-11 had been seen as one of the great dividing lines of the general election, with Labour claiming the Tory plan for "premature cuts" would take money out of the economy at a vital time. Claiming that Labour had "no credible plan" for tackling the deficit, Osborne said the Conservatives would protect Britain's credit rating, which he said is currently under the threat of being downgraded for the first time, which could tip the country back into recession. The shadow chancellor unveiled the Tory strategy as polling evidence suggested that some voters, especially women, were being alienated by a perception that the party might be ideologically committed to big and immediate spending cuts. A ComRes poll for The Independent, published today , showed the Tory lead over Labour down from nine to seven points, with the Tories on 38% and Labour on 31%. It found 82% of voters believed the Tories ought to be clearer about what they would do with the economy. Aside from ensuring macro-economic stability, Osborne's eight benchmarks for his new economic model also include: • Creating a more balanced economy by increasing exports, business investments and savings as a share of GDP. • Getting Britain working by lowering youth unemployment and the number of children living in workless households. • Ensuring Britain is "open for business" by improving Britain's international ranking for tax competitiveness and business regulation. • Ensuring all regions of Britain share in the private sector's rising prosperity. • Making the public sector deliver 'more for less' through reforms. • A safer banking system that would see the bank of England 'back in charge' of regulation. • Moves to boost new and environmentally friendly technologies to build a green economy, including a new Green Investment Bank to coordinate funding. This was just the beginning, said Osborne. Over the next two months the Conservatives would go around the country making the economic arguments for change. "Judge us by these benchmarks. Hold us to account," he said. Conservatives George Osborne Economic policy Hélène Mulholland guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (3 h ago)

• Cadbury takeover: workers travel to Lond... Cadbury takeover: workers travel to London to lobby MPs
02/02/2010
• Staff seek assurances over jobs, and want to stop more foreign takeovers • Mandelson to meet Kraft chief executive, Irene Rosenfeld, tonight There was a sad kind of cheer as two coaches packed with Cadbury workers pulled away from the historic half-timbered facade of the company's Bournville headquarters today. "When we come to work tomorrow I reckon the Cadbury flag will be down and the Kraft one will be there instead," said Wendy Ehrenfried, one of the hundred-plus workers who travelled to London today from Birmingham to lobby MPs over the famous company's future. "It's a sad day for us." Ehrenfried, who has worked at Cadbury for 17 years, and her fellow workers were resigned to the idea that the Kraft takeover would go through. Shareholders in Cadbury have until 1pm today to cast their votes on the near-£12bn deal, but it is virtually certain to be given the go-ahead. Kraft needs only 50% of the shares, plus one share, to declare control but is expected to win approval from holders of at least 75% of the company, bringing to an end 186 years of independence . Today's trip to the capital was more about urging politicians to try to make sure they kept their jobs and that Kraft kept investing in this most famous of British brands. "It's a good place. I've got good friends there and the work is well paid and clean," said Ehrenfried. "If this closes you've got no British industry left. What have you got for your generations coming up? They've got nothing. Why can't the government buy it? It's a very profitable company. We could understand if it wasn't, but it is." Karen Leach, who has worked there for 13 years, said: "If they can't save us they should put something in place to stop it happening again. I don't think a company from abroad should be able to come over here and buy our companies up. They couldn't save Rover but they were supposed to do something so it couldn't happen again. But it's happening again for us just down the road from Rover." The trip to London, organised by the union Unite, got off to a stuttering start. Someone had cancelled the coaches last night. "Sabotage," muttered one worker. Two replacement coaches were quickly dispatched. Keith Taylor, 51, who has worked at Cadbury for 35 years, said today was only partly about trying to protect a "quality company and a quality workforce". It was also about making sure this did not happen again. "We want to say to the government this was a hostile takeover. This has happened to us. It looks as if we're not going to gain a lot from it but we're going to try to help people to make sure that this doesn't happen to other profitable British companies. "I think people are expecting the inevitable – that tomorrow we'll be working for Kraft." Roger Thompson, who works in unit five (Easter eggs) said he was angry. "It's all a done deal and the workers and small shareholders don't get a say." Thompson had a union flag draped around him and wore a red, white and blue hat. Another group were carrying a gorilla costume, a reminder of the advert for Cadbury Dairy Milk – CDM as it is known in Bournville. Deborah Matthews-Booth, who has been with the firm for 33 years, wore her company uniform. "We know it's gone to Kraft. We're very sad, of course we're very bitter. We're hoping that the government will get something in stone so we know that what was Cadbury and what George Cadbury made for the Cadbury workers will stand for the future." Matthews-Booth used to work in the Milk Tray department but production of that favourite has already moved to Poland. She said: "I don't think we've heard enough from the government so far. We've been promised that Lord Mandelson would be involved but we haven't heard enough from him. I'd like to get a word with him but, don't worry, I haven't got any eggs to throw at him, not even chocolate ones." Mandelson is due to meet Kraft's chief executive, Irene Rosenfeld, tonight to discuss the takeover and is expected to seek reassurances about jobs. Stephen Copeland, who has worked at Cadbury for 32 years, was taking his daughter Charlotte, 16, to Westminster. "There's a genuine fear the place could close within five or 10 years because of the heavy debt Kraft is in," he said. "This company is successful enough to run for the next 100 years, never mind five. The debt that Kraft is in, they will have to make radical changes. It will mean job losses and spending cuts. "Gordon Brown said British jobs for British workers but if he makes a statement like that and is not committed to it, then he's not fit for office. The government should have introduced some sort of legislation to stop British jobs being taken abroad. "This is a great British institution and it should be kept this way, not just for my generation but for my daughter's generation." Charlotte said she had taken a day off school because both her dad and mum worked there. "If there are changes they could lose both their jobs. There may not be anything for the next generation. Lots of people in my school would like a job there. "I've known Cadbury ever since I was born, it's always been here. It'd be sad if it all went." Cadbury Kraft Rover Trade unions Peter Mandelson Manufacturing sector Steven Morris guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (3 h ago)

• Toyota admits recall will hit sales Toyota admits recall will hit sales
02/02/2010
Toyota executive says 'unprecedented' safety operation would likely have a bigger effect on sales than previous recalls Toyota has conceded its massive recall of cars is starting to dent sales while analysts are warning that costs of the safety operation could run into billions of dollars. Today, top Toyota management spoke publicly for the first time on the recall of millions of cars worldwide over fears of sticking accelerators. Toyota's executive in charge of quality control, Shinichi Sasaki, said that the "unprecedented" operation would likely have a bigger effect on sales than previous recalls. "The sales forecast is something that we're extremely worried about," he told a news conference in the Japanese city of Nagoya. "Already, I am hearing that sales have been affected somewhat in January." He said that after a recall, sales typically drop about 20% in the first month and then gradually recover but that the scale of this safety operation meant the impact could be deeper. Sasaki appeared alone in front of more than 100 reporters without the Toyota president, Akio Toyoda. The grandson of the company's founder, who took the helm last year, has come under fire from public relations experts for not making a public statement on the sweeping recall. Toyota investors are now awaiting its third-quarter results to be published on Thursday. Given the numbers over October to December last year, much of the focus is likely to be on the challenges ahead for Toyota as it fights to uphold its reputation for reliability following the second large-scale recall in five months . In September last year, Toyota announced a recall over fears involving almost 4m vehicles in the US that accelerator pedals could become trapped in floormats . The latest recall, following reports that the accelerator in some models can become stuck in a depressed position, has sparked anger on online owner forums. But some owners and motoring groups, including the AA in the UK, have been quick to commend Toyota for it taking precautions over what it says is, in Europe at least, just a small number of incidents with no related accidents. The company will now check about 1.8m vehicles in Europe and millions more in the US to see if they have the fault and Toyota will carry out repair work as necessary. On top of the separate recall for floormats problems, some 8.1m Toyota vehicles are now being recalled, more than its total group sales last year. Analysts, quoted by news agency Reuters , believe the operation and production stoppages could cost about ¥100bn to ¥200bn ($1.1bn to $2.2bn) with more related costs to follow. "It's a positive that we now can grasp what the direct costs might be, but Toyota has yet to address uncertainties about indirect costs, such as litigation costs and costs of incentives to win back customers," it quoted JP Morgan analyst Kohei Takahashi as saying. "The size of these indirect costs is of far greater importance" for Toyota's future, he said. Last night, Toyota outlined its plans to fix the faulty accelerator pedals, including for the eight models planned for recall in Europe. It said the first shipments of parts needed for the repair will begin arriving in Europe next week and that plans to contact the affected customers are "being put into place". "Toyota's policy is to put its customers first, in all circumstances," said Tadashi Arashima, head of Toyota Motor Europe. "We understand that the current situation is creating concerns, and we deeply regret it. We would also like to reassure customers: the potential accelerator pedal issue only occurs in very rare circumstances. The recall action is a precautionary measure aimed to guarantee the highest quality standards to all customers." It emerged yesterday that Toyota drivers will have to wait at least three weeks before finding out if they own one of the estimated quarter of a million cars in the UK that have "sticking" accelerator pedals. Once Toyota has finalised which cars are to be recalled, it will take up to four weeks to obtain the names and addresses of their owners in the UK, who will then be notified by letter. Automotive industry Toyota Katie Allen guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (4 h ago)

• Feed-in tariffs are disappointing for lo... Feed-in tariffs are disappointing for local renewable energy | Simon Hughes
02/02/2010
The government's feed-in tariff plans keep Britain far behind Europe on renewables, and panders to big energy companies Today, after many months of delay, the government finally announced its detailed plans for the feed-in tariff . It is a huge disappointment for all of us who want to see communities taking control of their energy production. The announcement could have heralded a new age in British energy policy, where a large proportion of our energy is produced by individuals and communities through microgeneration, solar panels on the roofs of our schools and homes, small scale hydropower and wind. It is an approach that has had success in many countries around Europe, where feed-in tariffs have played a fundamental role in promoting renewable energy. In Germany, where feed-in tariffs have been around for years, the total installed solar capacity is around 200 times that of the UK. The Netherlands has 40% of its electricity demand met from decentralised energy. In every election that Labour has fought since 1997 there has been a renewed commitment to renewable energy, but today renewables still only produce 5% of our power. The European average is 14%. This performance means that the UK comes 25th out of 27 EU countries in the proportion of its energy supplied from renewable sources – behind Malta and Luxembourg. Given all of this it seems unbelievable that the government did not take the opportunity to announce a more ambitious scheme today. The government's energy cash back scheme aims for only 2% of our energy to be met from microgeneration by 2020. A more generous tariff could have raised this target to 6%. This does not sound much but it is the equivalent of two nuclear power stations of the capacity of Sizewell B. Raising the target to 6% would cost the consumer just 10 pence more on their monthly energy bills. An YouGov poll conducted just last week showed that it would be overwhelmingly a popular charge. The increase in cost to the consumer compares well when we consider the £17 each year which each household will pay for the government's CCS levy and the £20-40 per year which EDF has calculated would be required to incentivise the new generation of nuclear reactors. Today's announcement has made clear that Labour has no room in their plans for small-scale, community-led energy production. This is sure to win them more friends amongst the big six energy companies. Last year it was reported that E.ON and EDF had told the government that they must choose between new nuclear and the large scale development of renewables . Labour have made their choice. The government's position is that it would rather have a generation of new nuclear power plants, pushed through without any democratic oversight by the new planning commission. These will blight the country for centuries to come and cost future generations billions in clean up. It is a choice that Liberal Democrats wholeheartedly disagree with, as it removes choice from local communities. For years we have campaigned for more power to be devolved to a local level. In energy policy we want a future where communities and individuals are supported in producing their own clean and green renewable energy and for them to make their own choices about how they do this. This is why we campaigned for the original amendment to the 2008 Energy Act that introduced the feed-in tariff. It is why I wrote to Ed Miliband just last week asking him to announce a more ambitious scheme today. It is disappointing that the government has failed to fulfil the opportunity which feed-in tariffs presented. Now all of us who want an energy future that involves a serious commitment to renewables need to speak loudly and seek to persuade others to vote for candidates who share this vision in the coming election. • Simon Hughes MP is the Liberal Democrats' environment spokesperson. Feed-in tariffs Renewable energy Energy Energy efficiency Gas Energy bills Ed Miliband EDF Energy Nuclear power Simon Hughes guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (4 h ago)

• Reader's Digest UK arm faces administrat... Reader's Digest UK arm faces administration threat
02/02/2010
• Funding deal over magazine publisher's £125m pension deficit has collapsed • US parent delays emerging from Chapter 11 protection due to UK situation Reader's Digest in the UK was at risk of collapsing into administration today after a funding deal for its pension scheme failed. Negotiations between its embattled US parent group, Reader's Digest Association, and the UK pensions regulator appeared to have broken down over an agreement for the UK title's pension fund. The move is understood to leave the future of about 135 jobs hanging in the balance. There are 1,600 members of its pension scheme. The US firm announced it was delaying its emergence from Chapter 11 bankruptcy protection due to the UK pension situation. It said funding plans had already been agreed by its UK arm and industry lifeboat, the Pensions Protection Fund, but added that the pensions regulator had indicated it would not approve the deal. "In light of this unexpected ruling, the UK entity is now reviewing its options in an attempt to find a solution," said the group. It is understood that if a deal cannot be reached with the pensions regulator, US-based Reader's Digest will not be able to support the UK company, leaving the British business with little choice but to call in administrators. The British edition of Reader's Digest has a history dating back to 1938. It has offices in Canary Wharf, east London, and Swindon, Wiltshire. The US parent filed for bankruptcy protection last August after battling financial difficulties as it laboured under vast interest payments on a $2.2bn (£1.4bn) debt pile. This has now been reduced to $500m under a restructuring plan, but it is having to cut liabilities to survive – such as the UK pension fund payments. It is believed to have proposed injecting £10.9m and one third of the equity of the UK business into the UK pension fund, which reportedly has a £125m shortfall. The pensions regulator was not immediately available for comment. Reader's Digest Association publishes 50 editions of the pocket-sized magazine and has offices in 44 countries. Media business guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (5 h ago)

• New Look to raise £650m in flotation New Look to raise £650m in flotation
02/02/2010
• Discount fashion chain has performed strongly during recession • Private equity owners to use cash to pay off debt and open new stores High street fashion chain New Look has announced plans to raise £650m with its stock market listing to pay down debt and open new stores to serve an army of discount-hungry shoppers. The cut-price clothes chain would not issue any guidance on the company's total valuation, however, merely outlining the issue of primary shares. Analysts put the company's price tag at about £1.7bn when news of the retailer's flotation plans first emerged in September . The FTSE 100's strong rally over 2009 helped convince private equity firms Apax Partners and Permira, the joint owners of New Look with founder Tom Singh, that investors were ready to put money into a business that has performed well in the downturn. In December, it appointed veteran retailer John Gildersleeve as chairman, seen as a City-friendly figure to lead the flotation. The company hopes to complete the initial public offering by mid-March. Proceeds will primarily be used to pay off a chunk of the £1bn debt piled on to the company by its owners after they took the business private five years ago for £700m. Weymouth-based New Look was founded by Singh in 1969 and now has more than 1,000 stores in 30 countries. The business has performed strongly during the recession along with other low-price, high-turnover fashion chains, such as Primark. The flotation details cited industry data showing the "value segment" of the UK clothing market enjoyed annual growth of 5.4% between 2003 and 2008 compared with 1.5% for the overall market. It claimed New Look outstripped that with 11% annual growth. The management team now hopes to open more stores, refurbish old ones, broaden its menswear and childrenswear ranges and look at new overseas markets. The planned flotation comes two years after the group abandoned plans to list on the stock market after a lukewarm response from investors, while a £2bn sale of the business also failed when the company was unable to agree a price with potential suitors. New Look Retail industry Private equity Primark Katie Allen guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (6 h ago)

• China launches new crackdown on tainted ... China launches new crackdown on tainted milk
02/02/2010
Dairy products contaminated with melamine back on market despite scandal that poisoned 300,000 children China launched a 10-day emergency crackdown yesterday on tainted milk after several products were found to be creeping back onto the market despite the 2008 scandal that sickened hundreds of thousands of children . No one knows how many contaminated milk products are still on the market, a member of the country's food safety committee, Chen Junshi, was quoted as saying by the China Daily newspaper today. The crackdown comes after milk products tainted with the industrial chemical melamine were pulled from shelves in Shanghai and the provinces of Shaanxi, Shandong, Liaoning and Hebei, the state-run Xinhua News Agency said. Some had been recalled in the previous scandal and repackaged. At least six children died and more than 300,000 fell sick in 2008, where melamine, normally used to make plastics and fertiliser, was added to watered-down milk to fool inspectors testing for protein and increase profits. At the time, China promised sweeping changes to food safety. Health concerns peaked again early this year after authorities in Shanghai said they secretly investigated a dairy for nearly a year before announcing it had been producing contaminated milk products. The case was especially troubling because Shanghai Panda Dairy Co. was one of the 22 dairies named by China's product safety authority in the 2008 scandal, with its products having among the highest levels of melamine. This time, China is again promising a crackdown. "All melamine-tainted milk products will be found and destroyed," Xinhua quoted the health minister, Chen Zhu, as saying over the weekend. China Food & drink industry guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (7 h ago)

• BP profits fall by 45% BP profits fall by 45%
02/02/2010
• Oil company hit by cheaper energy prices and lower refining margins in 2009 • BP chief executive sees 'slow and gradual' economic recovery in US and Europe BP has reported a sharp drop in profits in 2009 as it grappled with cheaper energy prices and squeezed margins on refining. The oil company said underlying profits in the fourth quarter rose 70% on a year earlier to $4.4bn (£2.75bn), but that missed the City's forecasts. The year as a whole suffered a 45% fall in profits to $14bn. Still, BP sought to flag up a stronger-than-expected 4% rise in oil and gas production in 2009 thanks to the start-up of new projects, including the first full year of production from the Thunder Horse field in the US Gulf of Mexico. In a statement , Tony Hayward, the chief executive, said that BP had still exceeded many of the aims he had set out at the start of 2009 and described it as a "very good" year overall. He said BP expects recovery in the major economies of the US and Europe to be "slow and gradual". While oil markets look well supported by Opec, BP expects gas markets to remain volatile and refining margins to remain depressed for the foreseeable future. "2009 has been one of the best years for BP and its shareholders since the merger with Amoco [in 1998]. But we are not resting on our laurels. There's a lot more to be done," said Hayward. BP's results echo news on Monday from ExxonMobil , the world's largest publicly traded oil company, that profits slumped to $19bn in 2009 from $45bn as it too battled against declining margins at its refineries and weaker demand for fuel in recession-battered economies. BP Oil Oil and gas companies Recession Katie Allen guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (7 h ago)

• New M&S chief gets £15m package New M&S chief gets £15m package
02/01/2010
Critics says deal flies in face of political demands for restraint in boardroom amid furore over bankers' bonuses Marks & Spencer has struck a £15m deal with its new boss, Marc Bolland, that is thought to be one of the biggest golden hellos in corporate history. The company was forced to get out its chequebook to lure Bolland away from Morrisons, which under his leadership has become the fastest-growing supermarket in the UK. M&S, once seen as byword for quality on the high street, desperately needs the Dutchman to resurrect its flagging food business which is losing customers to rival chains such as Waitrose and Sainsbury's. Bolland will earn at least £8.5m in the first year, a sum that includes £7.5m compensation for lost bonuses and shares that he would have received in his old job. Critics say the aggressive deal flies in the face of political demands for restraint in the boardroom amid the furore over bankers' bonuses and renewed concerns in the City about the company's regard for good boardroom practice. Bolland's annual salary of £975,000 will be 77 times the retailer's average pay level. On top of his basic salary, he could earn a bonus worth up to £2.5m. The package also includes an "exceptional" award of shares worth nearly £4m. According to its most recent annual report, M&S's 77,800 employees earn an average of £12,500. Bolland, a sharp-suited former marketing executive at the brewer Heineken, has already earned the nickname the $1bn man owing to the stock market reaction on the day his appointment was announced: M&S's shares rose 6%, while Morrisons sank 5%, a combined swing of £600m. Bolland, who will join on 1 May, is doubling his possible remuneration to run a far smaller business. Big investors questioned the need to pay £7.5m in "compensation" for leaving Morrisons. The amount is usually paid in the new company's shares but unusually Bolland's agreement includes £1.6m in cash. "We are opposed to this sort of golden hello" said a spokesman for PIRC, which advises shareholders on corporate governance issues. "It distorts the market for executives and compensating directors for the loss of bonuses and incentives at their previous company makes a mockery of the idea that the already high levels of remuneration act to retain key people." Big City investors have been at war with the M&S board since it promoted Sir Stuart Rose to the post of executive chairman in 2008 – a double job that is seen to wield too much power. The new row illustrates that the company had failed to plan for Rose's retirement. Marc Bolland Marks & Spencer Executive pay and bonuses Retail industry Morrisons Supermarkets Zoe Wood Jill Treanor guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (18 h ago)

• Northumbrian Water tipped for takeover Northumbrian Water tipped for takeover
02/01/2010
• Northumbrian Water shares leap, closing up 12% • Canadian teachers pension fund tipped as buyer Shares in Northumbrian Water jumped today following speculation that one of Canada's largest pension funds was preparing to buy the business and take it private. Northumbrian shares closed almost 12% up despite a resolute silence from the utility and the Ontario Teachers Pension Plan, its biggest shareholder with a 27% stake, which is reported to be planning a £1.7b bid. The water company said in a trading update it expected group revenue for 2009/10 to be in line with the previous financial year. The company's refusal to comment further failed to dampen excitement among analysts, who believe a favourable review of water bills by the regulator, Ofwat, in November prepared the way for a sale to a private equity firm or rival buyout vehicle. A bid by the Ontario fund would add to its acquisition last month of Acorn Care and Education, a provider of 10 special needs schools and independent fostering services across the UK. Last year the pension fund bought a 36% stake in Bristol airport for £128m. Several water companies have already fallen into the hands of private equity-style infrastructure funds, including Thames Water, which was bought by a group of funds led by Australia's Macquarie bank in December 2006, and Southern Water, in a deal agreed with JP Morgan in 2007. "This is a very attractive sector if you can get affordable debt, and clearly there will be people that are doing the maths and discovering they can make better returns by taking them private," said Stephen Tupper, a regulatory specialist at London law firm Greenberg Traurig Maher. Nevertheless, the full buyout of a water company by an occupational retirement fund would be an unusual move in the UK, where funds more usually buy a wide range of shares and bonds and make relatively small investments in private equity and hedge funds to spread risk. Joanne Segars, chief executive of the National Association of Pension Funds, said Canadian and US pension funds were often larger, giving them more scope to make direct investments "It's mainly a function of size. They …can set money aside for major investments in single companies," she said. The Ontario Teachers Pension Plan is the largest occupational retirement scheme in Canada, with £51bn in assets. It owns a private equity vehicle and already has a long history of making direct investments, including wholesale buyouts. Last month it bought a US bedding firm in a joint deal with private equity firm Ares Management. Northumbrian is seen as a potential takeover target after Ofwat called for an overall cut in bills of just under 1% over the period to 2015, reassuring the water companies, which had feared bigger cuts. Analysts said a five-year period of settled prices gave investors the visibility they needed to assess Northumbrian's potential. The group provides 4.4 million customers with water in north-east and south-east England. It has said it expects to maintain its current policy of increasing dividends by 3% a year before inflation. In its trading update, the company also said its net debt was expected to be around £2.26bn as of March 31 and that the group was in a strong funding position with sufficient resources to meet its requirements for the next two years. Evo Securities analyst Lakis Athanasiou said in a note. "If confirmed, this will establish a higher trading range for the other water stocks." Shares in Northumbrian closed at 289p. Utilities Private equity Canada Phillip Inman guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (19 h ago)

• EC to support Greek crisis plans EC to support Greek crisis plans
02/01/2010
• Greece intends to cut and tax its way out of debt • Credibility and stability of single currency under threat The European Commission is to voice support on Wednesday for the embattled Greek government's attempt to cut and tax its way out of a debt and deficit crisis that will have a large impact on the credibility and stability of Europe's single currency . But Brussels also signalled wariness and caution today over the plans, calling for further action beyond that mooted by prime minister George Papandreou and hoping to introduce the most intrusive scrutiny of an EU member state's bookkeeping ever attempted. The commission is to report on the Greek government's drive to slash a ballooning budget deficit from almost 13 to 3% in three years, including a 4% reduction this year – a feat that strains credulity for many observers. While the big eurozone economies, crucially Germany, repeat the mantra that there can be no bailout for a single currency country in the throes of a public finances crisis and at risk of defaulting, plans are being hatched behind the scenes in Brussels to come to the aid of the Greeks if push comes to shove. "The eurogroup has powers and mechanisms," said a senior official in Brussels of the 16 countries using the single currency. "For political reasons there can be no bailout, but the eurogroup can act with the Greeks to reform. We have a monetary union, a system for supporting the currency, interdependence." The commission today described the Papandreou plan as risky but plausible, while signalling that it did not go far enough. "What we are saying to the Greek authorities is: your stability programme has established ambitious targets and objectives and we fully endorse these ambitious objectives," the outgoing commissioner for monetary affairs, Joaquín Almunia, said. "We consider that the achievement of these objectives in the coming three years, before the end of 2012, is absolutely necessary. These objectives are achievable but they are surrounded by risks," he said. While Almunia praised the Greek end, but not necessarily the means, the German foreign minister, Guido Westerwelle, told a Greek newspaper that Berlin was standing by Athens. Germany's economics minister, Rainer Brüderle, however, reiterated previous dismissals of any talk of bailing out the Greeks. With Ireland, Portugal, Spain and Italy also wrestling with soaring budget deficits coupled with chronic national debt levels, the Germans are anxious about the moral hazard of coming to the rescue of the weakest link in the eurozone lest that encourage others to demand similar treatment. The Greek crisis, which erupted in October when the Papandreou government came to power and disclosed serial lying and obfuscation over years of budget data and fiscal policies, is seen as the biggest test the single currency has confronted. Last week traders were offloading euros at the fastest rate since the Lehman Brothers collapse in September 2008, while the euro has been weakening against the US dollar and the pound sterling in recent months, good news for German exporters. The Greeks are currently having to pay almost twice as much as the Germans to sell government debt. Given the record of dismal bookkeeping and the lack of transparency over Greek economic data, the commission is to demand that its statistical arm, Eurostat, be given unprecedented powers to audit Greek government accounts down to the levels of tax collection, pension funds, hospital spending and the like. Europe Global economy Global recession European commission Greece Ian Traynor guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (21 h ago)

• Merkel ready to buy stolen data on alleg... Merkel ready to buy stolen data on alleged tax evaders
02/01/2010
• Informant offered to sell tax data to for €2.5m • Angela Merkel facing opposition from within her party Angela Merkel, the German chancellor, signalled her government's readiness today to purchase stolen secret Swiss bank account data on 1,500 alleged tax evaders from an informant. The informant, who used to work at the Swiss arm of the British bank, HSBC, has offered to sell the data to the government for €2.5m (£2.2m) Experts say the information, which is contained on a CD, could reap up to €200m (£174.60m) in tax revenue. Despite strong voices of opposition within her own party, Merkel said: "Our goal should be to obtain this data, if it is relevant. "We should try everything to get information on possible tax evaders. Every reasonable person knows that tax evasion needs to be uncovered." But Swiss president Doris Leuthard hit back, saying it was "insidious" for a state that operates under the rule of law "to make use of illegal data". Merkel's willingness to buy the data, which has rattled relations between Germany and Switzerland, already at odds over the controversial issue of banking secrecy, was in contrast to members of her own conservative Christian Democratic Union (CDU) and its sister party the CSU. Several spoke out against buying the stolen data at the weekend, saying it was morally questionable to use it to ensnare potential tax evaders. Opposition politicians accused the conservatives of trying to protect their own interests as they pushed for the government to buy the data. An estimated €175bn is held in Swiss bank accounts by German citizens. A spokesman for the German finance minister, Wolfgang Schäuble, said before any decision was made it would be necessary to "establish legal clarity" over using illegally acquired data. Thomas Sutter, the spokesman for the Swiss Bankers Association, cautioned Germany over acquiring "stolen property". He said he did not believe that the German government "would want to be seen as the recipient of stolen goods" and warned that "if Switzerland was put under pressure", it could be "counterproductive" for current negotiations between the two countries over a new double taxation treaty. Schäuble's spokesman warned that if the government bought the data, it could "severely shake" the relationship between the two countries. But it said the precedent had been set two years ago when Germany purchased stolen bank data from the former employee of a bank in Liechtenstein and used it to pursue tax evaders. The information, for which it paid €4.2m, included data on around 600 Germans, the most prominent of whom was Klaus Zumwinkel, the former CEO of Deutsche Post. Zumwinkel was subsequently fined €1m in tax evasion charges and given a two-year suspended prison sentence. The alleged seller of information this time has been named as the 37-year- old former HSBC banker, and French citizen, Hervé Falciani, who is believed to have also offered bank data to the French authorities last August. German authorities involved in the investigation said from the samples of the data they had seen they had no doubt it was authentic. Joachim Poss, the deputy chief whip of the opposition Social Democrats urged the conservatives and their junior coalition party, the Free Democrats, to act objectively, and to not attempt to "protect the interest of their own voters who are on the whole the owners of larger fortunes". Tax avoidance Angela Merkel Germany Switzerland HSBC Kate Connolly guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (23 h ago)

• Trustees missing millions to pay debts o... Trustees missing millions to pay debts of failed financier
02/01/2010
• Only £5m of the £200m owed has so far been recovered • Derivatives trader checked into Priory for gambling addiction Trustees trawling through the failed business affairs of City derivatives trader Nicholas Levene have found only £5m of the £200m he owes to a string of Britain's most famous entrepreneurs. The lack of cash will alarm the likes of Richard Caring, the restaurant tycoon, Ann Gloag, the founder of Stagecoach and Ray O'Rourke, the construction boss, who all handed Levene cash to invest in City share offerings . They were told the news by Louise Brittain, a leading insolvency practitioner at Deloitte. Referred to as "Beano" because of his extravagant lifestyle, Levene is a well known City figure whose empire crumbled last autumn under a shower of legal actions from angry investors. Thought to be missing, Levene sought sanctuary in the Priory to treat what he described as a gambling addiction that saw him lose £70m. The Guardian has learnt that while Levene's business operations were based in Panama, he had accounts in Monaco and Switzerland. Levene received substantial funds from a Gibraltar law firm called Hassan. Money from Hassan appears to have been invested in shares via spread bets and other investment portfolios. A source at Hassan stated that the firm placed three clients with Levene on the basis of obtaining access to initial public offerings that clients would otherwise not have access to. Hassan stated it has not recovered all the cash owed to clients. Levene, 45, is now also facing a possible legal action from a spread-betting firm. This is on top of a claim by IG Index that Levene lost £720,000 betting on a single Twenty20 cricket match in 2008. The spread-bet firm believes Levene used shares in Delek, a former Aim-listed property company, as collateral for his gambling with the company. But there is a question mark about whether he actually owned the shares. A senior source linked to Delek said that to his knowledge, Levene was never on the company share register and that the firm had no dealings with him. Levene, however, had control of Delek shares through an arrangement with Israeli investor Igal Ahouvi , a well known figure in London real estate circles. Ahouvi successfully took legal action against Levene in 2008 after the North Londoner failed to hand over the Israeli's shares and dividends in Delek. Levene, who was a vice chairman of Nicola Horlick's investment vehicle Bramdean Asset Management and a former director at Leyton Orient football club, is the subject of an ongoing Serious Fraud Office investigation. Before being tracked down to the Priory last year, Levene failed to appear at critical court hearings to defend himself, prompting the courts to freeze assets and demand he surrender all passports. A court order noted he opened bank accounts in Northern Cyprus. His lavish lifestyle was well known. Parties were extravagant, holidays were spent staying in luxury suites where he ostentatiously hired super yachts. Confessing to his gambling addiction, Levene vowed to repay his investors who count among the elite of British business. He voluntarily submitted to questioning from the SFO. He began his career as a tea boy with Phillips & Drew, later joining Tullett & Tokyo where he cemented his reputation as a brash, outspoken intimidating broker on the London Stock Exchange floor. In a civil case in June, Levene was ordered to pay Ann Gloag, Scotland's richest woman, and her brother Brian Souter, the chief executive of Stagecoach, almost £18m. The pair won a high court judgment ordering Levene to return the money, which was given to make investments that never materialised. So far the pair have received no cash. It is understood they are frustrated at the slow pace of the SFO investigation and efforts to recover cash. Repeated efforts to contact Levene were unsuccessful. Stagecoach Law Nick Mathiason guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (1 d ago)

• Corporate bond launch boosts savers Corporate bond launch boosts savers
02/01/2010
London Stock Exchange unveils retail bond market for private investors with 'modest' sums of money Savers looking for a better return on their money will, for the first time, be able to invest in individual corporate bonds issued by major companies such as Tesco and BT, following today's launch of a trading service for private investors. The London Stock Exchange (LSE) has unveiled a " retail bond market " allowing private investors with modest sums to buy and sell bonds paying about 5%-8%. Corporate bonds are a form of debt issued by companies to raise money, which pay a fixed rate of interest for a set period. They are generally considered less risky than shares, but more so than putting your cash in a savings account. The main risk for the buyer of an individual corporate bond is that the issuing company might get into financial difficulty or even go bust. Traditionally, this type of investment has only really been an option for big institutional investors because the minimum amount needed to trade was typically £50,000 or more. But now, at a time when savings rates are at an all-time low and many people are nervous about the stockmarket, individual investors with as little as £1,000 to invest – and, in one case, just £100 – will be able to access the corporate bond market. Initially, 10 bonds are available for trading issued by companies including Tesco, BT, National Grid, GlaxoSmithKline, Morgan Stanley, GE Capital and Enterprise Inns. There is also a bond issued by Royal Bank of Scotland specifically for the new service, which matures in February 2020 and pays 5.1%. This has a minimum investment of £100. Typically, investors will be able to trade the bonds in £1,000 chunks in the same way they would buy and sell shares. A spokesman for the LSE said the bond market had been launched "in response to strong private investor demand for greater access to fixed income". Many savings accounts are currently offering very poor returns. David Buik at City broker BGC Partners said: "3% is about as good as the individual will get, whereas with a company such as Tesco the interest on a seven-year bond would be closer to 5%." But he added: "There is obviously a credit risk which investors have to take into account. Potential investors also need to be mindful of the fact that we may well be at the end of a low interest rate cycle, so they need to be comfortable in their own mind that, say, 5% is a decent rate and that they are not too worried about holding on to bonds for a lengthy period of time." Speaking at the launch, Paul Killik, senior partner at stockbroker Killik and Co, said there had been growing demand from its private investor customers to access the corporate bond market, but until now a centralised, transparent order book for trading in "individual retail friendly-sized bonds" had not existed. Bonds Investments London Stock Exchange Investing Rupert Jones guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (1 d ago)

• Cadbury workers to lobby government Cadbury workers to lobby government
02/01/2010
As shareholders vote on the bid tomorrow, Unite will be urging ministers and MPs to help them secure job and investment guarantees from Kraft Cadbury workers will lobby the government tomorrow for support to win jobs and investment guarantees from their new employer on the eve of the expected takeover by US food company Kraft. The chocolate-maker's shareholders will vote tomorrow on a revised offer from Kraft, but union officials said the US firm had remained "silent" on the workforce's future. Hundreds of members of Unite will urge the government to ensure that pledges to the workforce from the new owners were more than "warm words". As Cadbury shareholders vote on whether to accept the Kraft bid, workers from factories across the UK will gather in central London to lobby ministers and MPs seeking help on guarantees for the future. Jack Dromey, Unite's deputy general secretary, said: "Our fear is that the Kraft takeover is not in the national interest, and in the months of this hostile takeover process we have heard nothing from Kraft to calm fears that it is in the interest of the Cadbury workforce either. "Instead, the fate of manufacturing workers in Terry's of York, who found that Kraft ownership saw their plant close, weighs heavily on the minds of the Cadbury workforce. "Kraft cared little for the great history of that plant or for the skills of its workforce so we must seize the opportunity now to ensure that Cadbury and its workforce do not suffer the same fate. "The government must secure meaningful pledges from Kraft, and police them so that Kraft cannot again walk away from a UK workforce. Ministers must make it abundantly clear that closures and mass redundancies will not be accepted by the British government or the British people. "The government has said, and rightly so, that we must rebuild our manufacturing base. It is simply wrong, however, that hostile takeovers of successful British companies can happen." Unite said there was still no information on the consequences of the deal for the workforces of both companies. The union called on Kraft to make its intentions clear, warning that workers were "extremely worried" for their future. Cadbury Kraft Mergers and acquisitions Food & drink industry Trade unions guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (1 d ago)

• Manufacturing growth at 15-year high Manufacturing growth at 15-year high
02/01/2010
• CIPS/Markit survey shows strong manufacturing demand from home and abroad • Compilers suggest manufacturing recovery will pick up in 2010 after last week's disappointing GDP figures There are glimmers of a brighter year ahead for Britain's embattled factories after a survey showed the manufacturing sector grew at its fastest pace in 15 years last month. The news of strong demand on manufacturers from both home and abroad cemented economists' view that the worst of the downturn is over, despite official data showing Britain only just crawled out of recession at the end of last year. Echoing other surveys of strength returning to the economy, today's PMI manufacturing survey from the Chartered Institute of Purchasing and Supply/Markit gave a main reading of 56.7 for January. That compared with 54.6 in December , was well above City analysts' expectations of 54.0, and was the highest reading since before Labour came to power. A figure above 50 denotes expansion and for much of last year the readings were firmly below that level, showing a contracting manufacturing sector. January's improvement came as new orders rose at their fastest pace since January 2004. Within that, export orders grew at their strongest pace since the series began in 1996, reflecting the ongoing weakness of the pound. December's headline activity reading was also revised higher, prompting analysts to speculate the weak official GDP data on the final quarter of 2009 could also be upgraded at the next reading later this month. The PMI's compilers suggested 2010 would see growth picking up from 2009's lacklustre finish and they highlighted that manufacturing jobs were on the up for the first time in almost two years. "January data point to a robust start to 2010 for the UK manufacturing sector. The headline PMI hit a 15-year high as growth of new orders and production accelerated and employment rose for the first time since April 2008," said Rob Dobson, senior economist at Markit. "The main driver of growth was a surge in new export orders, as improving global market conditions and the ongoing weakness of sterling led to the sharpest rise in foreign demand recorded in at least 14 years. "The survey therefore raises hopes that the sluggish recovery from recession signalled by GDP data in the final quarter of last year will have gained momentum as we move into 2010." Still, experts cautioned that the survey has been out of synch with more downbeat official economic data for a while. Figures from the Office for National Statistics last week showed a meagre 0.1% quarterly growth rate for the wider economy at the end of 2009. "The survey provides a very welcome, decent upside surprise – which is particularly encouraging following the disappointing fourth quarter GDP data," said Howard Archer, economist at IHS Global Insight. "However, it needs to be borne in mind that the purchasing managers' surveys have recently been significantly stronger than the hard data – for both manufacturing and service sector activity." The jobs news from the PMI will also be taken with caution from those in the manufacturing sector and elsewhere after warnings the recession will be felt for years to come in the employment market. Drug maker GlaxoSmithKline is expected to announce thousands of job losses this week on top of thousands announced by rival AstraZeneca last week. Toyota has also told workers at its main UK plant that it will run out of work for 750 people in the summer. The PMI survey comes as the Bank of England's monetary policy committee prepares to meet on Wednesday and Thursday this week to make the critical decision on whether to suspend its £200bn programme of quantitative easing (QE). The BoE released its own monthly consumer borrowing data this morning showing consumer credit rose for the first time since last June. Economist James Knightley at ING Financial Markets described today's data as "encouraging" and said the rise in borrowing "offers further hope that credit access is improving and households are more prepared to take on debt". "This suggests that UK GDP can post a reasonably healthy growth figure for the first quarter of 2010 while supporting the view that the BoE will not choose to expand its asset purchase facility at this week's MPC meeting." The Bank also published data showing mortgage approvals – seen as a leading indicator of property market activity – unexpectedly fell in December. That cast more doubt on whether the recent house price growth can be sustained even though the Nationwide building society last week said its survey of the property market could show annual inflation returning to double figures this month . "The rapid pace of housing activity could be starting to slow, particularly with household finances under strain from low wage growth, a high debt burden and rising taxes," said Knightley. Manufacturing data Manufacturing sector Economic growth (GDP) Recession Bank of England Quantitative easing Mortgage lending figures Credit crunch Katie Allen guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (1 d ago)

• Ryanair warns fares will rise Ryanair warns fares will rise
02/01/2010
• Low-cost airline Ryanair says fares have to rise to meet targets • Investors cheered by improved full-year outlook Low-cost airline Ryanair has warned that fares will have to rise in the future if it is to meet its targets. To achieve long-term profit targets, average fares would have to rise "somewhere down the line", chief financial officer Howard Millar told Reuters in an interview. He was speaking after Ryanair posted a loss of €11m (£9.6m) in its third quarter, compared with a loss of €102m a year earlier as it cheered investors with an improved full-year outlook. Chief executive Michael O'Leary highlighted growing market share following the demise of rival airlines such as Germany's Blue Wings and said Ryanair was making more progress on cutting costs. "Market conditions remain difficult, although the increasing pace of consolidation and closures among our competitors allied to Ryanair's continuing fleet expansion will lead to further market share gains this year in particular in Italy, Scandinavia Spain, and the UK," he added in a statement . Third-quarter passenger numbers rose 14% to 16m but that was largely offset by a 12% decline in average fare. O'Leary said Ryanair's yield performance was better than expected in the third quarter thanks to a better mix of new routes and bases. He predicted that trend was likely to continue into the final quarter, giving a better-than-expected performance for the year as a whole. As a result, the airline increased its full-year net profit guidance to €275m from the lower end of the range of €200m to €300m previously forecast. The news helped lift Ryanair's shares in Dublin, where they rose almost 5% to €3.50 shortly after the market opened. Ryanair Flights Katie Allen guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (1 d ago)

• Amazon concedes defeat in ebook row Amazon concedes defeat in ebook row
02/01/2010
• Amazon to give in over publisher's price demands for book downloads • Row had seen Macmillan titles withdrawn from sale on Amazon Amazon has conceded that it will have to give in to Macmillan in a row over the pricing of ebooks that saw the publisher's titles removed from the retailer's virtual shelves this weekend . After a meeting between the two parties on Thursday ended in deadlock, Amazon stripped books from Macmillan – including Hilary Mantel's Man Booker prizewinner, Wolf Hall – from its website in the US. In a posting on its site , Amazon said the talks stumbled over Macmillan's push to switch to a pricing model where $12.99 to $14.99 is charged for e-book versions of bestsellers and most hardcover releases. Amazon, which has long been under fire from the publishing community for selling ebook bestsellers at $9.99, sought to paint Macmillan as the pricing tyrant. "We have expressed our strong disagreement and the seriousness of our disagreement by temporarily ceasing the sale of all Macmillan titles. We want you to know that ultimately, however, we will have to capitulate and accept Macmillan's terms because Macmillan has a monopoly over their own titles, and we will want to offer them to you even at prices we believe are needlessly high for ebooks," the online retailer added. "Amazon customers will at that point decide for themselves whether they believe it's reasonable to pay $14.99 for a bestselling ebook. We don't believe that all of the major publishers will take the same route as Macmillan. And we know for sure that many independent presses and self-published authors will see this as an opportunity to provide attractively priced ebooks as an alternative." Thursday's price spat with Amazon – home of the Kindle ebook store and reading device – followed the news that Macmillan was one of a handful of publishers to be the first in Apple's new iBookstore. Apple , which is potentially providing Amazon's biggest ebook challenge yet with the iPad, is expected to allow publishers more freedom to set their own prices. Macmillan's chief executive, John Sargent, said the row with Amazon was about the "long-term viability and stability of the digital book market". "Amazon and Macmillan both want a healthy and vibrant future for books. We clearly do not agree on how to get there," he said in a statement to authors, illustrators and literary agents, posted online. Visitors looking up Macmillan titles on Amazon's US site this morning saw a list entitled "available from these sellers", but no Amazon price or order button. The retailer is under pressure to stay competitive on price as digital books become a growing part of its business and rival sellers increase. Macmillan's description of Amazon as "a great innovator" reflects the retailer's development of the Kindle, which publishers such as Penguin have credited with invigorating the ebook market in the US. Amazon recently passed a milestone when on Christmas day it sold more ebooks than traditional books, as people who got Kindles for Christmas bought titles to download. But now it has a new challenger in the form of Apple. The iPad tablet brings with it the iBookstore and new pricing models for electronic publishing. Amazon.com Ebooks Retail industry Publishing Katie Allen guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (1 d ago)

• Crozier could earn £14m in five years Crozier could earn £14m in five years
01/31/2010
ITV's new chief Adam Crozier could earn incentives worth almost £3m a year over the next five years for turning around the ailing broadcaster ITV's new chief executive, Adam Crozier, is in line for a pay packet of more than £14m over the next five years if he can turn around the ailing broadcaster's fortunes. Crozier, whose move from Royal Mail was announced last week , is set to earn a smaller basic salary than ITV's previous boss, Michael Grade, but is still likely to get £750,000 a year. On top of that he can earn 150% of his salary again as a bonus for meeting certain targets and under a long-term incentive plan, yet to be finalised, he could enjoy another £5m over five years. That takes the total package for the former boss of the FA to £14.4m between now and 2014, or the equivalent of almost £3m a year. Details of the package have emerged since ITV chairman Archie Norman's comments that Crozier's pay will be "within the normal range for this type of role and challenge". "It is not in the Tony Ball league, very far from it," Norman added on a call to journalists last week. "He will have a strong incentive to make the business perform, as you would expect." Ball reportedly wanted a package worth £42m over five years and his pay demands were one of the sticking points that led to the ITV board scrapping negotiations with the former BSkyB chief executive in September. Though smaller than Ball's demands, Crozier's ITV package will swell a bank balance already beefed up by his old job at the head of Royal Mail. He is reportedly set to leave with £2m in bonuses and research by the TaxPayers' Alliance, which publishes an annual public sector rich list, found that Crozier was paid £1,142,000 at the postal service. He leaves behind industrial unrest and a business grappling with the need to modernise for a business where morale is similarly subdued and investor pressure is high. Crozier, who like Norman has no previous experience in broadcasting, will need to show shareholders he can deliver the results to revive a stock price that has halved since 2007. The home of Coronation Street and I'm a Celebrity … Get Me Out of Here! enjoyed rating success last year but terrestrial TV channels are struggling to sustain audience share as increasing numbers of households sign up to multichannel TV. Older media companies such as ITV also face stiff competition for viewer attention and advertiser money from new forms of entertainment such as websites, games consoles and mobile phones. Crozier will have to find new ways for ITV to make money beyond its free-to-air advertising model. He is likely to build on ITV's growing success at selling its in-house productions to other UK networks and overseas markets. Its Come Dine with Me show is already sold to Channel 4 in Britain and the format has been bought in more than 20 countries. The new boss, whose media experience includes a stint running advertising agency Saatchi & Saatchi and a sales and marketing role at Telegraph Newspapers, may also look into launching new digital channels to complement ITV2, ITV3 and ITV4. In a bid to find new revenue streams, ITV could start charging for some or all of those channels. Crozier's appointment to the chief executive role, which he is expected to take up at the end of March, ended almost a year of uncertainty around the management of the TV company. It had been looking for a new boss for 10 months since executive chairman Michael Grade said last March that he would step back from his day-to-day management role and become non-executive chairman by the end of the year. However, when ITV announced in September that it had broken off talks with Ball, it also emerged that the Grade would be leaving the company altogether, opening the way for Norman's appointment. On the regulatory front, Norman and Crozier will lead negotiations with the government about further reducing ITV's public service obligations. Norman has described ITV as "Britain's most highly regulated company". Crozier may also have to fend off takeover bids, especially given that 17.9% shareholder BSkyB has been ordered by competition authorities to sell most of its stake. It could be acquired by a rival broadcaster; there has also been plenty of speculation that non-industry suitors could emerge. ITV Executive pay and bonuses ITV Adam Crozier Archie Norman Royal Mail Television industry Katie Allen guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (1 d ago)

• Bank levy wins global support as push fo... Bank levy wins global support as push for Tobin tax loses momentum
01/30/2010
Leaders at Davos economic summit appeared to be deserting the idea of a Tobin tax on banking industry The prospects of a global tax on financial transactions were receding fast this weekend amid signs that countries were swinging behind an alternative plan to impose an insurance levy on banks. Both David Cameron and Alistair Darling expressed support for Barack Obama's proposals to force banks to pay into a fund that would provide compensation in the event of the failure of a financial institution. Cameron said at the World Economic Forum summit at Davos that he thought a so-called Tobin tax was unworkable because of a lack of international support, but said he would back an insurance levy if he became prime minister in this spring's election. "We would work for a new international levy on banks – one of the ideas being considered by the IMF – to protect the taxpayer from footing the bill for banking crises," the Conservative leader said. The chancellor said he was working with the US on a permanent insurance levy, an idea the Treasury believes will win more support than a Tobin tax. "We are keen to work on a plan on this with other countries," Darling added. Obama has announced plans to force banks to pay $90bn (£56bn)over the next 10 years, to meet the costs of government bailouts. Global support for a transaction tax appears to be waning just as charities and churches in the UK prepare to launch a major, celebrity-backed campaign to back the idea. Max Lawson, senior policy advisor at Oxfam, insisted a levy would be too modest to fill the gaping hole in the public finances blown by the financial crisis. "The only thing that would raise enough money to prevent cuts to public services and help poor countries is a transaction tax." Gordon Brown has championed the idea of a financial transaction tax, often known as a Tobin tax after the economist who suggested it, but the government now accepts there is a risk that the proposal could fail to win sufficient backing. "We're going to keep both ideas up and running until it becomes clear that one of them is going to get international support behind it," a Number 10 insider said this weekend. John Lipsky, the deputy managing director at the IMF, said there was support for an insurance levy, but a draft report by the fund due out in April would look at a number of proposals. "The mandate is for a menu of options. That's exactly what we are going to provide. We are looking at all plausible options in a fair and objective way." He added that the fund was keen to avoid proposals that would distort financial markets. "One of the bases on which we will be judging the different measures is their potential distortive effects on the financial sector. One of the criteria would be whether a tax would diminish the efficiency and effectiveness of the financial system itself. "This is an area where uncoordinated action could create the conditions for legislative and regulatory arbitrage." Campaigners for a Tobin tax believe the fund will throw its weight behind an insurance levy, which has the advantage of support from the White House. However, with France and Germany openly supportive of a transaction tax, there is likely to be a fierce international argument on the rival proposals over the coming months. Tobin tax Davos Banking Financial crisis Larry Elliott Heather Stewart guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds (2 d ago)

• Obama Seeks $30B Small Business Boost Obama Seeks $30B Small Business Boost
02/02/2010
Proposal Would Divert TARP Funds to Local Banks with Strong Incentives to Pass Money on to Business Owners (4 h ago)

• Does Toyota's Problem Go Beyond Pedals? Does Toyota's Problem Go Beyond Pedals?
02/01/2010
Parts on the Way to Dealers to Fix Sticky Accelerators, But Some Analysts Say Problem Has Multiple Causes and Will Continue (9 h ago)

• Sold Out: CBS Fills Super Bowl Ad Space Sold Out: CBS Fills Super Bowl Ad Space
02/01/2010
Network Says Average Prices Are Up from Last Year, with Some 30-Second Spots Topping $3 Million (14 h ago)

• Video: Toyota Repairs: A Quick Fix? Video: Toyota Repairs: A Quick Fix?
02/01/2010
Repairs for Toyota's problematic gas pedals are under way, but are they just a quick fix? Dean Reynolds reports on investigations that point to another potentially lethal problem for Toyota vehicles. (15 h ago)

• Video: Obama's 2011 Budget Video: Obama's 2011 Budget
02/01/2010
As the U.S. budget has surged upward, the deficit has also soared. As Chip Reid reports, President Obama's new budget is expected to get the economy moving by increasing education and defense funding. (15 h ago)

• Obama Budget Projects $1.56T Deficit Obama Budget Projects $1.56T Deficit
02/01/2010
President Unveils $3.83 Trillion Spending Blueprint, Blames Huge Deficits on the Bush Administration (15 h ago)

• Toyota: New Pedal Parts on Way to Dealer... Toyota: New Pedal Parts on Way to Dealers
02/01/2010
Embattled Automaker Apologizes to Customers for Massive Recall; Unclear When Repairs Will Be Completed (16 h ago)

• Medical Device Cos. Reach $1.7B Settleme... Medical Device Cos. Reach $1.7B Settlement
02/01/2010
Boston Scientific to Pay Johnson and Johnson after Patent Dispute Involving Drug-Coated Stents (20 h ago)

• FAA: Airline Disregarded Weight Data FAA: Airline Disregarded Weight Data
02/01/2010
Agency Proposes $2.5M Fine for Regional Carrier American Eagle; Not Calculating Baggage Weight a Serious Safety Violation (20 h ago)

• Megachurch Takes Field in Super Bowl Ads Megachurch Takes Field in Super Bowl Ads
02/01/2010
L.A. Church Has Faith Its Entry in Doritos' Amateur Ad Contest Will Gain Exposure for Message, and Maybe a $1M Payout (23 h ago)

• U.S. Incomes, Consumer Spending Up in De... U.S. Incomes, Consumer Spending Up in Dec.
02/01/2010
Personal Income Rose for 3rd Straight Month, Besting Analysts' Predictions, But Spending Increased Less Than Expected (1 d ago)

• Exxon Mobil Earnings Drop 23 Percent Exxon Mobil Earnings Drop 23 Percent
02/01/2010
High Oil Prices Prompt Profit Drop in Fourth Quarter (1 d ago)

• Obama's $3.8T Budget Heads to Congress Obama's $3.8T Budget Heads to Congress
02/01/2010
President's Proposal Includes $100B to Fight Unemployment; Would Bump Deficit to Record $1.6T (1 d ago)

• Video: Toyota's Plant Shut Down Video: Toyota's Plant Shut Down
01/31/2010
Toyota has temporarily shut down most of its U.S. plants as they rush to fix the sticky accelerator pedals. As Manuel Gallegus reports, Toyota is anxious to repair its image as well. (1 d ago)

• Video: Blind Chef's Magic Touch Video: Blind Chef's Magic Touch
01/31/2010
One Chicago Chef can cook up a storm, even though she's been blind since birth. As Cynthia Bowers reports, this chef does it all while dazzling the best in the business. (1 d ago)

• Video: High-Speed Rail, the Future? Video: High-Speed Rail, the Future?
01/31/2010
President Obama has proposed billions put high-speed rail on the fast track to create future jobs. But as John Blackstone reports, will car-loving Americans get on board? (1 d ago)

• Video: Micro-Loans Helping Businesses Video: Micro-Loans Helping Businesses
01/31/2010
As small businesses continue to struggle, a new movement to support start-ups has borrowed a page from the developing world. As Kelly Wallace reports, 'micro-loans' could be the next big thing. (1 d ago)

• Video: America's Spending Diet Video: America's Spending Diet
01/31/2010
When it comes to the new federal budget, many wonder which programs will be on the chopping block. As Kimberly Dozier reports, Obama's plan puts America on a 3-year spending diet. (1 d ago)

• Back From the Brink Back From the Brink
01/31/2010
Henry Paulson Talks About His Tenure as Treasury Secretary, Bank Bailouts, and a Regulatory System That's "Still Very Sick" (1 d ago)

• Video: Calculated Risk Video: Calculated Risk
01/31/2010
Former Treasury Secretary Henry Paulson has taken much criticism for the way he handled the economic meltdown. Paulson spoke with Anthony Mason and looked back on his time in Washington. (1 d ago)

• On Winfrey’s Channel, a Show About Her S... On Winfrey’s Channel, a Show About Her Show
02/01/2010
OWN, jointly founded by Oprah Winfrey’s production company and Discovery Communications, is starting to reveal some details about its programming. (9 h ago)

• Yahoo Renews Deal to Use A.P. Material Yahoo Renews Deal to Use A.P. Material
02/01/2010
It was not clear whether The Associated Press won more money from the deal, or what it might mean for the company’s talks with Google and Microsoft. (9 h ago)

• Advertising: An Advocacy Ad Stirs a Nati... Advertising: An Advocacy Ad Stirs a National Debate
02/01/2010
The evangelical group, Focus on the Family, has purchased an ad for the Super Bowl that is expected to contain an anti-abortion message. (10 h ago)

• Decline in One-Time Costs Lifts Gannett Decline in One-Time Costs Lifts Gannett
02/01/2010
The publishing company, which earned $133.6 million in the last quarter, said lower costs helped it beat estimates of Wall Street analysts. (10 h ago)

• Webdenda: People and Accounts of Note Webdenda: People and Accounts of Note
02/01/2010
Webdenda. (12 h ago)

• Q & A With Stuart Elliott Q & A With Stuart Elliott
02/01/2010
Q & A With Stuart Elliott. (12 h ago)

• Haiti Added to ‘Most Dangerous Paper Rou... Haiti Added to ‘Most Dangerous Paper Routes in the World’
02/01/2010
The run-up to a war gives Stars and Stripes time to prepare for newspaper delivery, but a crisis like the Haiti earthquake has unique complications. (19 h ago)

• Disney Is Said to Be Seeking a Buyer for... Disney Is Said to Be Seeking a Buyer for Its Beleaguered Miramax Unit
02/01/2010
The Miramax name and 700-film library, including “Pulp Fiction” and “The Queen,” could fetch more than $700 million, a mergers expert said. (22 h ago)

• Mel Gibson Can’t Topple ‘Avatar’ Mel Gibson Can’t Topple ‘Avatar’
01/31/2010
The much-hyped return to the multiplex of Mel Gibson proved no threat to James Cameron’s “Avatar.” (1 d ago)

• News America Unit of News Corp. Settles ... News America Unit of News Corp. Settles Marketing Dispute
01/31/2010
News America Marketing, a division of the News Corporation that publishes coupon inserts for newspapers, settled lawsuits by Valassis, a competitor in Michigan. (1 d ago)

• F.D.A. Aims at Doctors’ Drug Pitches F.D.A. Aims at Doctors’ Drug Pitches
01/31/2010
Dr. Leslie Baumann’s comments in the media about an antiwrinkle drug violated restrictions on drug promotion, the agency said, in what is believed to be the first time an individual researcher was warned. (1 d ago)

• The Media Equation: To Deliver, iPad Nee... The Media Equation: To Deliver, iPad Needs Media Deals
01/31/2010
The iPad is a device for consuming media, not creating it. So are the media providers ready to do business? (1 d ago)

• Advertising: Pepsi Invites the Public to... Advertising: Pepsi Invites the Public to Do Good
01/31/2010
Abstaining from the Super Bowl commercial scrim this year, Pepsi is instead inviting the public to vote on worthy causes to which it will donate money. (1 d ago)

• News Analysis: Is the Day of Tiny Ads Fi... News Analysis: Is the Day of Tiny Ads Finally Here?
01/31/2010
Maybe Apple’s iPad will tip the balance toward the perenially next big thing on the small screen. (1 d ago)

• New Role Puts Anchor in Fox News Spotlig... New Role Puts Anchor in Fox News Spotlight
01/31/2010
Megyn Kelly, seen as a candidate for prime time, will anchor a two-hour afternoon newscast, “America Live.” (1 d ago)

• Crowley to Anchor Sunday Talk Show on CN... Crowley to Anchor Sunday Talk Show on CNN
01/31/2010
Candy Crowley is replacing John King on “State of the Union,” and he is taking over the time slot once held by Lou Dobbs. (1 d ago)

• Drilling Down: Bigger Cheer for Early Su... Drilling Down: Bigger Cheer for Early Super Bowl Ads
01/31/2010
No matter how close the game is, audience recall of ads always wanes. (1 d ago)

• Editorial Shake-Up as Harper’s Tries to ... Editorial Shake-Up as Harper’s Tries to Stabilize in a Downturn
01/31/2010
The publisher and main benefactor raises concerns that the magazine, a nonprofit supported by his foundation, is becoming irrelevant. (1 d ago)

• Obama to divert TARP cash to small firms Obama to divert TARP cash to small firms
02/02/2010
President Barack Obama will propose using $30 billion from the TARP bank bailout program for a small business lending fund to try to spur job growth. (4 h ago)

• NYT: McDonald’s revolutionizes Russia NYT: McDonald’s revolutionizes Russia
02/02/2010
When McDonald’s entered the Soviet Union, it had to supply its own ingredients. Now the last one — burger buns — has been turned over to the private sector. (5 h ago)

• Madoff’s ex-finance chief to give up hom... Madoff’s ex-finance chief to give up home
02/02/2010
The man who served as Bernard Madoff's finance chief has agreed to give up his New Jersey home so it can be sold for the benefit of those cheated by his jailed former boss. (6 h ago)

• AG says ‘Who Dat’ spat cleared up with N... AG says ‘Who Dat’ spat cleared up with NFL
02/01/2010
Louisiana's attorney general said Monday that shops can sell T-shirts with the phrase "Who Dat" and the fleur-de-lis symbol. (14 h ago)

• Toyota apologizes for massive vehicle re... Toyota apologizes for massive vehicle recall
02/01/2010
Toyota apologized to its customers Monday and said a piece of steel about the size of a postage stamp will fix the gas pedal problem that led to the recall of millions of cars. (14 h ago)

• Stocks up as manufacturing, spending ris... Stocks up as manufacturing, spending rise
02/01/2010
Encouraging economic reports lifted stocks Monday and bolstered hopes that a recovery is in better shape than many had believed. (17 h ago)

• Super Bowl ads sold out; some top $3 mil... Super Bowl ads sold out; some top $3 million
02/01/2010
CBS says it has sold out of ads for the Super Bowl at average prices that are better than last year, with some 30-second spots topping $3 million apiece. (17 h ago)

• Megachurch hopes to ‘crash’ Super Bowl... Megachurch hopes to ‘crash’ Super Bowl
02/01/2010
Pastors have long competed with the NFL on Sundays, but this season a megachurch hopes a 30-second ad could muscle its way into the holiest of sporting events: the Super Bowl. (18 h ago)

• Fed sees signs that credit crisis easing Fed sees signs that credit crisis easing
02/01/2010
Fewer banks are erecting new hurdles for people and businesses to get loans, a fresh sign credit problems are easing. (18 h ago)

• Obama plans tax hikes for wealthy Obama plans tax hikes for wealthy
02/01/2010
While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals. (18 h ago)

• Rise in factory activity boosts recovery... Rise in factory activity boosts recovery hopes
02/01/2010
Consumer spending rose slightly less than expected as savings jumped to a six-month high, indicating households remained too cautious to spend despite an improvement in incomes. (19 h ago)

• GM’s plan to sell Hummer brand delayed GM’s plan to sell Hummer brand delayed
02/01/2010
General Motors' plan to sell the Hummer brand to a Chinese heavy equipment maker has been delayed by a month. (19 h ago)

• Can China carry out threat of sanctions? Can China carry out threat of sanctions?
02/01/2010
China's threats to punish U.S. companies involved in an arms sale to Taiwan are raising questions over whether Beijing could pull it off without undermining its own industries. (20 h ago)

• Seed shortages may imperil home gardens Seed shortages may imperil home gardens
02/01/2010
A poor growing season last year and increased orders from Europe could make it difficult for home gardeners to get seeds for popular vegetables this spring. (21 h ago)

• Exxon posts lowest annual profit since 2... Exxon posts lowest annual profit since 2002
02/01/2010
Exxon Mobil Corp. said Monday its annual income of $19.3 billion was the smallest in seven years as higher oil prices squeezed profit margins in its refining business. (23 h ago)

• NYT: Toyota’s slow awakening to deadly i... NYT: Toyota’s slow awakening to deadly issue
02/01/2010
A fatal accident in August led Toyota to step up its inquiry of unintended acceleration, yet only last week did it come to terms with the problem’s scope. (1 d ago)

• Newsweek: Why quest for prosperity is da... Newsweek: Why quest for prosperity is dangerous
02/01/2010
The quest for ever-more and ever-better prosperity subverts itself. It might be better to tolerate more frequent, milder recessions and financial setbacks than to strive for a sustained prosperity that, though superficially more appealing, is unattainable and ends in a devastating bust. (1 d ago)

• Review: Chevy Volt is electrifying drive Review: Chevy Volt is electrifying drive
02/01/2010
By November, GM will be ready to switch to high gear and begin mass production of the much-awaited Chevy Volt for retail sale to regular consumers (1 d ago)

• Your Career: Smart blogging can set you ... Your Career: Smart blogging can set you apart
01/31/2010
If you’re looking to land a job out of college, enhance your career or find a new one, maybe you’re thinking about jumping on the blogging bandwagon. (1 d ago)

• My heartbreaking decision to drop Cablev... My heartbreaking decision to drop Cablevision
02/02/2010
Two weeks ago I broke up with Cablevision. We had had a stormy relationship for years. But the final straw occurred when the cable company dropped two favorite channels, HGTV and The Food Network, from its lineup. It was a dispute about -- what else? -- money. And although HGTV... (5 h ago)

• Why Silverstein is insecure Why Silverstein is insecure
02/02/2010
The worst news buried in the gloomy arbitration decision over Larry Silverstein's beefs with the Port Authority at the World Trade Center site was the fate of the underground Vehicle Security Center, through which all trucks making deliveries to Ground Zero office towers would need to pass. The media... (5 h ago)

• Political virus Political virus
02/01/2010
Hewlett-Packard wants to oust Carly Fiorina for a second time -- in this case, from politics. The computer giant she once headed is spending the maximum amount allowed to defeat her bid for US Senate, and funneling political cash to her political archival, without a dime going to the former... (8 h ago)

• A bonus question A bonus question
02/01/2010
Now this is a high-stakes staring contest. Two of the most powerful men on Wall Street are locked in a quiet stalemate over who will be first to blink and disclose how much its top bankers earned in compensation last year -- and as a result first face heat from... (8 h ago)

• Business briefs Business briefs
02/01/2010
Citi PE Citigroup plans to sell or split off its $10 billion Citi Private Equity unit, expanding the list of mon ey-management busi nesses the US bank is dis posing of to reduce debt, sources said. The unit oversees about $2 billion. Markets Encouraging economic reports lifted stocks yes terday... (8 h ago)

• Business howls over Obama tax bites Business howls over Obama tax bites
02/01/2010
President Obama's plans to tighten time-honored tax loopholes for corporations in hopes of extracting $400 billion in new revenue drew protests across corporate America yesterday. The biggest chunk would come from international tax changes, including squeezing companies that use overseas operations to reduce or avoid taxes. Giants such as... (8 h ago)

• Obama's antitrust policy is toothless Obama's antitrust policy is toothless
02/01/2010
So much for the Obama administration's supposedly tough stance on antitrust matters. Despite vowing to be more aggressive in enforcing antitrust laws, recent moves by the Department of Justice suggest little has changed from the days of the Bush administration. Indeed, for all of the saber rattling that took... (8 h ago)

• Bellmarc snapped up Bellmarc snapped up
02/01/2010
Prudential Douglas Elliman has just gobbled up Bellmarc Property Management, The Post has learned. While the details of the deal have not been disclosed, the sale will add 50 luxury buildings to PDE's management portfolio, including 15 East 69th St., home to PDE Chairman Howard Lorber. "We're pleased... (8 h ago)

• Ex-Madoff CFO surrenders home Ex-Madoff CFO surrenders home
02/01/2010
The man who served as Bernard Madoff's finance chief has agreed to give up his New Jersey home so it can be sold for the benefit of those cheated by his jailed former boss. A document posted yesterday in the file of Frank DiPascali showed that he and his... (8 h ago)

• Card co. sued again Card co. sued again
02/01/2010
Baseball card maker Upper Deck is facing a major league lawsuit. Major League Baseball sued the Carlsbad, Calif., company, accusing it of using the league's logos without permission and distributing unauthorized lines of trading cards. Upper Deck's cards improperly feature various sport and team logos, which were licensed... (8 h ago)

• Burkle boosts B&N Burkle boosts B&N
02/01/2010
Barnes & Noble rose 18 percent in late US trading after Ron Burkle, its largest outside shareholder, asked the book seller to waive a provision preventing unwanted takeovers and allow him to acquire as much as 37 percent of the shares. Burkle, in a letter to Barnes & Noble's board of... (8 h ago)

• CBS locks in commercial slots before Sup... CBS locks in commercial slots before Supe kickoff
02/01/2010
CBS said it has sold out of commercial slots for the Super Bowl, a full week before the biggest ad event of the year. The TV network that airs the game typically has a handful of spots left to sell at this point, and CBS's status is even more... (8 h ago)

• Citi rights checking fee wrong Citi rights checking fee wrong
02/01/2010
Citibank's "free checking" accounts will remain so for another year, after New York Attorney General Andrew Cuomo reached an agreement with the bank not to follow through with a plan to begin assessing fees on accounts whose balances fall below $1,500. The agreement follows on a report by... (8 h ago)

• Citibank, in Settlement, Extends Free Ch... Citibank, in Settlement, Extends Free Checking
02/01/2010
The New York attorney general came to an agreement with Citibank that will allow its EZ checking account to remain free for another year. (17 h ago)

• Why You Shouldn't Trade In Your Toyota N... Why You Shouldn't Trade In Your Toyota Now
02/01/2010
Declining resale values and the lessons of history mean now may not be the best time to trade in a recalled Toyota model. (17 h ago)

• Shortcuts: An Attempt to Revive the Lost... Shortcuts: An Attempt to Revive the Lost Art of Apology
02/01/2010
Apologies were never easy, but now, complicated by concerns about liability and self-esteem, they seem harder than ever to make. (20 h ago)

• New Help for Filling Out the Fafsa Form New Help for Filling Out the Fafsa Form
02/01/2010
SallieMae launched a new online resource center Monday with tools to help students and parents learn about and complete the Free Application for Federal Student Aid. (21 h ago)

• Your Investing Behavior Costs You Plenty Your Investing Behavior Costs You Plenty
02/01/2010
How investor returns differ from investment returns, and why this can cost you hundreds of thousands of dollars over a lifetime. (22 h ago)

• Van Nest Journal: In a Slice of the Bron... Van Nest Journal: In a Slice of the Bronx, No Banks in Sight, for Now
01/31/2010
For businesses and residents, the lack of a bank is an inconvenience, but it is also a problem that officials say has stunted the business community there. (1 d ago)

• The Places They Go When Banks Say No The Places They Go When Banks Say No
01/30/2010
As traditional banks have spurned small businesses, many have turned to firms that provide a relatively expensive alternative: purchase-order financing. (2 d ago)

• Strategies: When a Portfolio Is Red or B... Strategies: When a Portfolio Is Red or Blue
01/30/2010
A study finds that investors alter their trading strategies based on whether their preferred political party is in power in Washington. (2 d ago)

• Sponsored By: Sponsored By:
02/02/2010
(6 h ago)

• Kansas gambles on state-owned casino Kansas gambles on state-owned casino
02/01/2010
Some states are turning to casinos as part of a solution to huge budget deficits. Kansas has gone one step further and is actually setting up the first state-owned gambling operation in the country. Sylvia Maria Gross reports. (19 h ago)

• Publisher gets tough on Amazon Publisher gets tough on Amazon
02/01/2010
Prior to the introduction of Apple's iPad, Amazon had a near-lock on setting prices for e-books. But Apple's entry into the market is making the online retail giant re-kindle its relationship with publishers. Sarah Gardner reports. (19 h ago)

• Big shifts on Main Street Big shifts on Main Street
02/01/2010
Walk down any commercial street in the U.S., and you're likely to see empty storefronts. But there are new businesses to come along to take up the space. Mitchell Hartman reports. (19 h ago)

• It's time for China to pull hackers' plu... It's time for China to pull hackers' plugs
02/01/2010
Google has been considering a new approach to China because of censorship issues. Commentator Todd Buchholz says China faces a stark choice when it comes to Internet freedom. (19 h ago)

• How will Toyota fix faulty pedals? How will Toyota fix faulty pedals?
02/01/2010
Reporter Alisa Roth talks with Tess Vigeland about the logistics behind Toyota repairing its problematic accelerator pedals and how the carmaker plans to improve its image after the recall. (19 h ago)

• Budget's impact on No Child Left Behind Budget's impact on No Child Left Behind
02/01/2010
President Obama's budget sets aside $50 billion for education, but the White House plans to make schools work for that money. Nancy Marshall Genzer explains. (19 h ago)

• Deficit reduction to be gradual Deficit reduction to be gradual
02/01/2010
The White House has proposed a $3.8 trillion budget, which would drive the federal deficit to a record $1.5 trillion. So how will President Obama bring the deficit under control? John Dimsdale reports. (19 h ago)

• Pope urges ‘responsibility’ during tough... Pope urges ‘responsibility’ during tough times
01/31/2010
Pope Benedict XVI has urged sense of responsibility from governments, employers and workers as they deal with job losses from the economic crisis. Pope Benedict XVI - United States - Canada - Directories - Government (1 d ago)

• Davos forum ends with no agreement on jo... Davos forum ends with no agreement on jobs
01/31/2010
The world's foremost gathering of business and government leaders wrapped up a five-day meeting Sunday with widespread agreement that a fragile recovery is under way. Business - Davos - Government - Employment - Central America (1 d ago)

• Toyota is part of a list of issues for J... Toyota is part of a list of issues for Japan Inc.
01/31/2010
Toyota is the latest Japanese corporate icon making headlines for all the wrong reasons. Japan - Toyota - Business - Asia - Automobile (1 d ago)

• NYT: China leads global race for clean e... NYT: China leads global race for clean energy
01/30/2010
China's efforts to dominate the manufacture of renewable energy technology raise the prospect that the West may someday depend on it rather than on Mideast oil. Technology - Renewable energy - Energy - China - United States (2 d ago)

• Regulators to bankers: New rules coming Regulators to bankers: New rules coming
01/30/2010
Regulators from the world's major developed countries told bankers that greater regulation is on the way, a defensive move aimed at avoiding a repeat of last year's financial meltdown. Business - Regulation - Financial services - Banking Services - Banks and Institutions (2 d ago)

• Spam and social networks Spam and social networks
02/01/2010
There has been a massive rise in spammers and hackers hunting for victims at online social networks, an explosion of spam messages and nefarious software targeting users of sites like Facebook and Twitter.A report by data protection firm Sophos found 57% of online social network users reported getting spam in their virtual communities. That amounted to a 70.6 percent jump from the prior year. About 36% of social network users said they had been sent software worms, viruses or other types of "malware". That's ... (10 h ago)

• Pepsi, Bill Gates and CSR Pepsi, Bill Gates and CSR
02/01/2010
The financial crisis might be creating a mind shift in business. Some companies seem to realize that the way to customers' hearts might lie in building connections with society.First out of the blocks is Pepsi which, according to the New York Times, has announced a $20 million cause related marketing campaign where it launched the Pepsi Refresh Project, using Twitter, Facebook and a web site refresheverything.com, to support local causes. As part of the deal, Pepsi has pledged $20 million for donations to local ... (12 h ago)

• Steve Jobs lashes Google Steve Jobs lashes Google
01/31/2010
Back in August, I did a blog entry explaining why Google and Apple were on a collision course with Google moving into mobile phones. The other interesting part is the clash in cultures. Google is a relatively open company, Apple is anything but. And things have heated up with reports that Apple and Microsoft are in talks over the possibility of Redmond's Bing replacing Google as the default search engine on the iPhone. This will get ugly.Now Wired reports that Apple's Steve Jobs has ... (1 d ago)

• Trust, banks and Davos Trust, banks and Davos
01/31/2010
Another year passes and the powers that be meet in Davos. Lots of talk and as always, little result.The New York Times tells us that the meeting showed the financial crisis had eroded trust. Few trust governments, corporations and particularly banks.No kidding? They had to send a reporter to Davos to find that out? The Times let's us know that bankers, central bankers and politicians reached no consensus on the best way forward to regulate markets or banks. Which is a worry in light ... (1 d ago)

• UN calls for cyber war treaty UN calls for cyber war treaty
01/30/2010
Last week at the Australian Open, I was taken on a tour of the IBM computers running the tournament. One of the displays showed a stream of threats to the IBM system in Melbourne, Australia. The attacks were coming from all over the world, mostly from Russia and China. It was only a simulation. As the IBM manager told me, a real threat would happen to fast to follow.It was a seriously scary revelation and coincides with a new study from McAfee, reported here, ... (2 d ago)

• Is US growth a mirage? Is US growth a mirage?
01/30/2010
Everyone seems to be getting very excited about the United States economy growing at 5.7%, the fastest in six years. Economists are saying people are beginning to spend again which means the recovery has kicked in.Don't hold your breath. It could be a mirage.Dr Doom, Nouriel Roubini has told Bloomberg that the 5.7% is an illusion. Most of it is related to the replenishing of inventories and that in any case, the US government is the one providing the spending money through its stimulus ... (2 d ago)

• An Unlikely Haven for Rock ’n’ Roll Entr... An Unlikely Haven for Rock ’n’ Roll Entrepreneurs
01/31/2010
A small town in Pennsylvania Dutch country is home to small businesses that support musicians’ tours, as well as makers of mousetraps, candy and pretzels. (1 d ago)

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This is abundant, look forward to looking into ea...
John gogs :: 12/28/2009

Who knows where to download XRumer 5.0 Palladium?...
CocoChanels :: 07/03/2009

Hi, my friends!! I want to get program XRumer 5.0 ...
MagicOPromotion :: 05/03/2009

Where is this money coming from except from the mo...
carl allen :: 04/11/2009

out of control
staystrong :: 02/23/2009

The poor thing! Once so high and mighty and far ab...
leaf :: 02/22/2009

It always amazed me how eagerly people flocked to ...
David :: 12/23/2008

• Bloomingdale’s in Dubai is first outside... Bloomingdale’s in Dubai is first outside U.S.
01/31/2010
The city with the world's tallest building now has one more claim to fame: the only Bloomingdale's outside the United States. Dubai - United States - List of tallest buildings and structures in the world - United Arab Emirates - Middle East (1 d ago)

• Hedge Funds Care Holds 12th Annual Open ... Hedge Funds Care Holds 12th Annual Open Your Heart to the Children New York Benefit
02/01/2010
Hedge Funds Care is holding its 12th Annual New York "Open Your Heart to the Children" benefit on Thursday, February 25, 2010 at Cipriani 42nd Street. A committee will award Michael E. Novogratz, President of Fortress Investment Group, with a Hedge Funds Care Award, among others. The first founder's award will be presented to Lee Daniels, director of Precious. Michelle Caruso-Cabrera of CNBC will serve as master of ceremonies for this year's event. The New York benefit is one of the key charity ... (22 h ago)

• Hedge Fund 'Oscar' Night Hedge Fund 'Oscar' Night
02/01/2010
Silk Invest's Luxembourg SICAV hedge fund, the Silk Road Income Fund, has been awarded the 2009 'Golden Bull' prize for innovation at the 'Finanzen Nacht' ceremony in Munich. Hailed by the German press as the "Oscar of the financial world", the award is sponsored by Euro, Germany's leading finance publication. The gala evening was attended by over 500 delegates. "We are proud to have been recognized in this way." Zin Bekkali, CEO of Silk Invest, said, "We launched the fund so that our ... (22 h ago)

• Paper, and Business Flyers, Still Import... Paper, and Business Flyers, Still Important in Day-to-Day Reality
02/01/2010
© Penningtron I don't have an iPad yet. The new Apple gadget looks like something I'd have fun with, but the truth is that I probably wouldn't carry it to the grocery store with me. I go there now with a little slip of paper in my pocket (milk, eggs, whole wheat noodles, pork chops...) Tech mobility only extends so far for me, I guess. That's part of being a middle aged digital immigrant. I already have a Palm I could use to carry my ... (19 h ago)

• Cutting Startup Costs Cutting Startup Costs
01/31/2010
© jekert gwapo I sometimes joke that my favorite verse from the Bible is Ecclesiastes 10:19, which says that money is the answer to everything. It does actually say that (although you have to take it in the large context of the book). But I can come up with verses I like more... While money might really be the answer to everything in some cynical sense, hold down your costs can be the answer to a lot of things, especially if you're just getting ... (1 d ago)

• This is the time to deliver on upstream ... This is the time to deliver on upstream operational excellence
02/01/2010
With oil prices squeezed, now is the time for oil and gas companies to focus on operational excellence. What lessons can managers draw from world-class operators in the business? Read more on the McKinsey Quarterly > Topics: Energy, Resources, Materials Operations (23 h ago)

• CO2 abatement: Exploring options for oil... CO2 abatement: Exploring options for oil and natural gas companies
02/01/2010
Oil and natural gas companies play a central role in CO2 emissions. How can the industry meet the challenge from climate change regulations? Read more on the McKinsey Quarterly > Topics: Climate Change Energy, Resources, Materials (23 h ago)

• Information is Good, But It Can Also Ste... Information is Good, But It Can Also Steal Your Soul
01/30/2010
Seth Godin had a blog post a week or so ago about data - and how everyone wants more data, so they can prove their point. We live in the Information Age now. There's a common misconception that we entered the Informatin Age as a byproduct of computers. But we had an infatuation with data before computers were very common. It makes me think of the McNamara Fallacy, named for Secretary of Defense Robert McNamara. At a time when computers where not all ... "); //--> (2 d ago)

• Startup Confidential Startup Confidential
02/01/2010
© Randy Son Of RobertIf there is anything that bootstrappers like to do more than think about and talk about their own startup businesses, it is listening to other bootstrappers talking about their startup businesses. So the new series of guest posts on Seattle's TechFlash technology news website called "Startup Confidential" should be right up your alley. Following Seattle entrepreneurs Damon Cortesi and Aviel Ginsburg as they launch their own startup, the series promises to unveil many of the normally obscured process of ... (23 h ago)

• BPO Trends BPO Trends
01/30/2010
© Asthma HelperIn a recent article published on the Shared Services and Outsourcing Network, Susir Kumar and Suresh Ramani of Intelenet were asked about the trends that they are seeing in the BPO industry. Mssrs. Kumar and Ramani reported that they were seeking a number of significant changes in both the pace and manner of deal structure during the economic difficulties of 2009. These include a greater focus on near-term savings, more aggressive price negotiations, more "buy-outs" of entire departments and they are being ... (2 d ago)

• Tech stocks battered as earnings disappo... Tech stocks battered as earnings disappoint
01/30/2010
U.S. stocks declined for a third straight week, giving the Standard & Poor's 500-stock index its worst month since February, as technology companies missed earnings estimates and surging Greek bond yields triggered a flight from riskier assets. (2 d ago)

• Online Invoicing Apps for Your Business Online Invoicing Apps for Your Business
01/30/2010
© jekert gwapo Small Business Trends published a great piece this month on invoicing tools that you can access online. Let's face it: collecting what people owe you is a major key to business success. Especially if you provide business-to-business services, there's a good changce your accounts aren't done on a cash only basis. And if you deal with customers on a regular, repeated basis there's a good chance you bill them from time to time. This piece looks at 30 different invoicing ... (2 d ago)

• ‘Bag Balm’ for cows proves to be a slick... ‘Bag Balm’ for cows proves to be a slick cure-all
01/31/2010
Winter is most definitely here. It must be. The phones are ringing at Bag Balm headquarters. Shopping - Arts - Consumer Electronics - Communications - Wireless (1 d ago)

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