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Money & Business - Friday, 30th July 2010  
American Airlines to cut some jobs and furlough others
 American Airlines has decided to cut the jobs of 920 flight attendants.
Bangladesh garment workers to get bigger wages
 Bangladesh has told its garment workers they can have another $20 per month in a minimum wage case.
Soggy U.S. stocks fail to catch fire
 U.S. stocks lost ground Thursday although losses were limited.
Arnold Schwarzenegger brings back furlough provisions
 Governor Arnold Schwarzenegger of California has given an executive order for some state workers to take three unpaid days off per month starting in August.
Greek truck drivers ordered back to work
 The Greek government, using a rare law, has ordered truck drivers back to work.
Protesters call for Fiat plant to stay open
 Fiat car workers in Italy have been running protests over the company’s future in its home country.
Alaskan oil spill due to power problems
 A power failure contributed to a 4,500-barrel oil spill in the US in May.
Boeing announces lower profits but high expectations
 Aircraft giant Boeing its net profit for the April through June quarter was down due to a fall in plane deliveries.
Kraft criticised for being insensitive to Cadbury history
 Cadbury has seen the departure of many senior staff from its UK office since it was taken over by Kraft earlier this year.
Panasonic unveils 3D camera
 Panasonic has developed a camcorder that will record birthdays, weddings and family events in 3D.
Luxury seating changes soothe air travellers
 Some airline passengers may be feeling more comfortable in their seats, with dozens of airlines opting to install wider seats with more leg room.
Continental Airlines tests self-boarding method
 Continental Airlines in the US is testing a controversial self-boarding method.
Gaza Strip investors turn to resort ownership
 Palestinians have invested $20 million or more in new tourist infrastructure in Gaza.
Citigroup pays $US75m to settle subprime case
 Citigroup has agreed to pay a $US75 million ($A84.2 million) fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the US Securities and Exchange Commission...
Nurses who opposed strike say union is harassing them
 Three Twin Cities nurses who crossed their union’s picket line during a mass walkout say they were harassed by the union after the fact through letters calling them to a disciplinary...
Best Buy to offer faster mobile broadband
 Best Buy is once again extending its reach into the wireless broadband market, hoping to give customers one-stop shopping for services that connect laptops and netbooks. The Richfield-based company...
NY's Paterson plans at least 1,000 layoffs this year to contend with deficit, fiscal crisis
 New York's governor says he's planning for at least 1,000 layoffs to contend with a fiscal crisis after public employee unions refused to provide concessions. Gov. David Paterson...
Amgen's Second Quarter 2010 Adjusted Earnings Per Share Increased 7 Percent to $1.38
 THOUSAND OAKS, Calif., /PRNewswire-FirstCall/ -- Amgen (Nasdaq: AMGN) reported adjusted earnings per share of $1.38 for the second quarter of 2010, an increase of 7 percent compared to...
US stocks fall on poor earnings
 Dow Jones Industrial Average fell 30.72 points, or 0.29 per cent, to close at 10,467.16. The broader Standard and Poor's 500 Index dropped 4.6 points, or 0.42 per cent, to 1,101.53. The...
Microsoft CEO promises iPad will have Windows-based competitors, but they're not ready yet
 Microsoft will compete with Apple's iPad, but it isn't saying when. Microsoft Corp. CEO Steve Ballmer says the company is working with Intel Corp. and computer makers to perfect...
Genworth MI reports improved second quarter earnings on fewer mortgage losses
 Genworth MI Canada Inc. (TSX:MIC) reports its second quarter profits grew as fewer people booked mortgage loss claims on improvements in economy. The Toronto-based mortgage insurer earned...
Belden shifts to profit in 2Q, Amgen net income slips but beats expectations
 ... from AP Financial News: ST. — Belden Inc., an electronics-components maker, said it shifted to a profit in the second...
Japan’s Unemployment Rate Unexpectedly Rises to 5.3%
 Japan’s unemployment rate unexpectedly rose to a seven-month high in June, adding to concern consumer spending will stall.
DBS Posts Surprise Net Loss in Second Quarter on Goodwill Charge
 DBS Group Holdings Ltd., Southeast Asia’s biggest bank, reported a surprise net loss of S$300 million in the second-quarter because of a goodwill impairment charge of...
Emerging Bond, Equity Inflows Rise on Stress Tests, U.S. Profits
 Emerging-market bond and equity fund inflows rose in the week ended as European bank stress tests and U.S. earnings reports bolstered investor optimism, EPFR Global...
Macquarie Says Investment Bank, Securities Earnings Set to Drop
 Macquarie Group Ltd., Australia’s biggest investment bank, said its advisory, securities, fixed income and commodities businesses are set to report lower earnings as...
We gave $169 billion to investors, more to come
 The most jaw-dropping number of the day: $169 billion is how much Microsoft has returned to shareholders over the last 10 years through dividends and stock buybacks. That was a closing note from...
Planar surprises Wall Street with strong quarter
 Planar Systems Inc. shot up in after-hours trading after the company surprised Wall Street with a profitable quarter. For the three months ended the Beaverton-based company (NASDAQ: PLNR)...
McClatchy blames 83% drop in earnings on debt refinancing
 ... earned $7.3 million in the second quarter, or 9 cents a share, down from $42.2 million, or 50 cents a share, in the same three-month period in 2009. McClatchy chairman and CEO Gary Pruitt said the...
Treasurys mixed on economic data
 TREASURYS MIXED: The prices of the 10-year note and 30-year bond slipped, while prices for two-, and five- and seven- year notes were higher. TREASURY AUCTIONS: The Treasury Department auctioned $29...
Toxic assets from AIG gaining value
 WASHINGTON — Toxic assets the government bought during the bailouts of American International Group Inc. and Bear Stearns are finally gaining value, the Federal Reserve Bank of New York said...
Court keeps English muffin secrets from rival
 PHILADELPHIA — A food-industry executive armed with the secret to the "nooks and crannies" in Thomas' English muffins can't work for a rival amid a trade-secret lawsuit. The U.S. appeals...
Back-to-school buying lessons for children
 NEW YORK — Shopping for back-to-school items for your elementary school children, but afraid of a fight in the jeans aisle? Parents who hope to keep a lid on spending can soften the edge by...
TSX closes up despite mixed earnings reports, U.S. job numbers
 There were better-than-expected earnings reports on Thursday from companies such as Potash Corp. of Saskatchewan Inc., Suncor Energy Inc. and Barrick Gold Corp. But others like Cenovus Energy Inc....
Microsoft talks up tablets, shows off new phones
 Microsoft Corp set out its ambitions to dominate the consumer electronics market on Thursday with Windows-powered tablet computers and smartphones designed to beat back advances...
Microsoft talks up tablets, shows off new phones
 Microsoft Corp set out its ambitions to dominate the consumer electronics market on Thursday with Windows-powered tablet computers and smartphones designed to beat back advances...
US stocks erase early gains
 US stock markets ebbed today, reversing early gains garnered from news of an unexpected fall in jobless claims and solid company earnings.
Amgen reports lower earnings on slowed sales
 Amgen Inc. reported slightly lower earnings late Thursday, due to various charges and decreased sales of two of its leading products, Enbrel and Aranesp. The Thousand...
UPDATE 3-Amgen profit tops expectations; Prolia on track
 2010 * Q2 adjusted EPS $1.38 vs Street view $1.30 * 2010 revenue view lowered slightly due to weaker euro * Says Prolia Europe, U.S. launches progressing * Shares unchanged (Adds...
Citigroup fined $75m for misleading investors over sub-prime assets
 ... financial crisis which left it dependent on a vast government bailout to avert bankruptcy.Charges laid yesterday by the Securities and Exchange Commission accuse Citigroup of repeatedly making...
Chiquita Posts 2Q Beat
 CQB ) saw adjusted earnings and revenue slide compared to the year-ago quarter, but the results still handily topped expectations. The company credited a return to profitability in Europe and a...
UPDATE 2-Google says China Web search blocked
 2010 * Google website says China search service blocked * Search previously listed as partially blocked in China * Google's mobile and ad service also blocked * Google images, news...
Frontier Communications Cuts Dividend 25% To Meet Annual Goal
 FTR ) cut its quarterly dividend 25% to 18.75 cents a share. The decrease, which will reduce Frontier's annual payout by $168.6 million, was in keeping with the rural telecommunications company's...
UPDATE 1-Brazilian miner Vale Q2 profit soars 344 percent
 2010 * Net earnings jump on higher iron ore prices * ...
China to help Venezuela build three power stations
 MW electricity generating plants in return for oil deliveries under a long-term $20 billion financing deal, the Latin American OPEC nation said Thursday. Three months ago, Beijing said the...
ITA Deal Could Give Google 'Significant' Market Power
 GOOG ) pending acquisition of ITA Software Inc. could give the Internet search leader "potentially significant" market power in the online travel business. Speaking to analysts on a conference call...
WRAPUP 3-Canadian oil sands profits jump amid green battle
 2010 * Suncor EPS C$0.31 vs yr earlier C$0.06/shr loss * Cenovus EPS C$0.23 vs C$0.21 * Imperial EPS C$0.60 vs C$0.64 * Cdn Oil Sands Trust C$0.49 vs C$0.10 * Michigan oil spill...
UPDATE 2-Wynn Q2 profit doubles, shares decline
 2010 * Adj EPS 52 cents * Revenue rises 43 percent to $1 billion * Shares fall after hours (Recasts, adds analyst comment, stock price, byline) By Deena Beasley LOS ANGELES...
UPDATE 2-TransCanada profit down; sees Keystone approvals
 2010 * Q2 comparable EPS C$0.40 vs estimate C$0.46 * Revenue C$1.92 bln vs C$1.98 bln * Expects no significant delays to $7 bln Keystone line * Shares drop 0.4 pct (Recasts with...
GLOBAL MARKETS-Stocks slip on uncertain recovery; euro flies
 Euro hits 12-week high on data, month-end buying * Stocks end lower on weak tech outlook, recovery woes * Some U.S. Treasuries gain as stocks fall (Updates with U.S. markets close) By...
SEC charges Wyly brothers with $550 million fraud
 The Securities and Exchange Commission charged the billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock...
MetLife posts Q2 earnings of $1.5 billion, beating Street
 ... the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.
Fed officials clash on need for more stimulus
 Federal Reserve officials clashed on Thursday over whether the central bank should be more aggressive in supporting the stumbling economy and one said the Fed's current policy...
Global body proposes rule to end insurer "black box"
 A global accounting standard setter proposed a new rule for insurers on Friday, aiming to shine a light on a sector criticized by investors for being a "black box" that keeps them...
BNP hires ex BofA executive Innes for equity sales
 Innes will oversee sales for the Americas for stocks, equity derivatives, prime brokerage and convertibles, the source said. His position was previously held by Aaron Ford, who resigned last week....
Analysts see Blackpad targeting Christmas sales
 Research in Motion Ltd. has planted a stake on a website with an intriguing domain name, possibly providing a strong hint of the company’s product plans.By securing the rights to...
Lawsuits urge Casey's to deal with Couche-Tard
 MONTREAL – Casey’s General Stores Inc. is facing three lawsuits related to a takeover offer by Alimentation Couche-Tard Inc. as investors demand the Iowa-based corner store chain abandon its...
TSX positive at end of topsy-turvy day
 After some fluctuations over the day, the Toronto Stock Exchange ended in positive territory Thursday as Canadian earnings reports painted a mixed picture and U.S. data showed a job market still...
Tootsie Roll's 2Q earnings not so sweet
 Tootsie Roll Industries Inc., the Chicago-based candy maker, said its second quarter profit fell 18 percent, reflecting rising costs of distribution and ingredients — in particular, sugar. The...
Bank of Arizona parent posts record earnings
 ... reported record earnings of $64 million for the second quarter. The Tulsa, Okla.-based financial services company’s earnings were $60.1 million during the same period in 2009. Net income for...
McAfee 2Q Profit Rises
 Computer-security software maker McAfee Inc. said Thursday that its second-quarter profit rose 38 percent, helped by growth in its corporate and consumer businesses. For the April-June period...
Activists Appeal Purdue Coal Power Unit Permit
 Two environmental groups that oppose Purdue University's plans for a new coal-fired power unit challenged the school's air permit Thursday in an appeal that says regulators failed to fully assess how...
RealNetworks' 2Q Loss Narrows
 RealNetworks Inc. said Thursday that its second-quarter loss narrowed even though its revenue fell because last year's second quarter included a large charge reflecting the declining value of its...
PMI Group Narrows Loss, but Shares Tumble
 PMI Group Inc. on Thursday reported a nearly $151 million loss, narrower than a year ago but far wider than Wall Street expected. Shares of the mortgage insurer tumbled nearly 15 percent. PMI...
Exxon Mobil, Colgate-Palmolive among big movers
 NYSEAmeriprise Financial Inc., up $4.70 at $42.98The investment manager's purchase of a Bank of America asset management unit helped drive net income higher in its second quarter.Exxon Mobil Corp....
Treasurys mixed on earnings, new jobless claims
 Treasury prices were mixed Thursday after U.S. companies reported strong earnings and the government said new jobless claims fell but remain elevated.
MEMC Q2 Profit Up, Expects Lower FY10 Earnings; Shares Down
 WFR ), reported Thursday a surge in profit for the second quarter, due mainly to a robust increase in semiconductor materials and solar material sales, led by higher volumes as market demand...
Earnings boost stocks, dollar slips to 3-month low
 Robust quarterly earnings from Europe drove world stocks higher on Thursday, while the dollar hit a three-month low on the back of weak US data and a downbeat assessment of the economy from...
Exxon Mobil, Colgate-Palmolive among big movers
 NEW YORK — Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Ameriprise Financial Inc., up $4.70 at $42.98 ...
Microsoft CEO promises iPad will have Windows-based competitors, but they're not ready yet
 Microsoft will compete with Apple's iPad, but it isn't saying when. Microsoft Corp. CEO Steve Ballmer says the company is working with Intel Corp. and computer makers to perfect...
Bases in Ariz., Fla., Utah, Vt. picked to get initial share of Air Force's new F-35 fighter
 The U.S. Air Force has chosen bases in Arizona, Florida, Utah and Vermont as homes for the military's F-35 Joint Strike Fighter, prompting applause from officials banking on the pricey new...
Honeywell says it will keep headquarters in NJ as governor works to expand business grants
 Honeywell International Chairman and CEO Dave Cote said Thursday that the Fortune 500 company has decided to keep its headquarters in New Jersey despite an attractive offer in...
Partisan disagreements, summer recess delays oil spill legislation until at least September
 Partisan disagreements in the Senate will delay passage of legislation responding to the Gulf oil spill until at least September, when Congress returns from its summer recess. The...
CDEL Schedules Third Quarter 2010 Earnings Release on Wednesday, August 18, 2010
 PRNewswire-Asia-FirstCall/ -- China Distance Education Holdings Limited (NYSE: DL) ("CDEL" or "the Company"), a leading provider of online education in China focusing on professional education...
Expedia, Inc. Earnings Press Release Available on Company's IR Site
 ... results through a press release that is available now...
Big earners are still safe in their glass towers
 ... watchdog gets tough on City bonus culture . EU-inspired crackdown to catch 2,500 firms in the Square Mile. New rules go far beyond anything imposed on Wall Street. These sentences are designed to...
Microsoft's research depth enabled Kinect, Mundie says
 Microsoft 's forthcoming Xbox add-on that allows a user to control a game through body movements -- in fact, Microsoft itself initially thought it would be impossible, its top research executive said...
Amgen Earnings Rise 7%, Beat Analysts' Expectations
 ... reported a 7 percent increase in adjusted profit that topped Wall Street forecasts, although sales of some of its most important products fell short of Wall Street estimates and the company slightly...
Nvidia's Earnings Warning Could Signal Chip Glut
 Some analysts actually argue Intel could gain from Nvidia's pain—especially if there is a shift to the kind of integrated chipsets Intel makes.) My take: You can slice these numbers anyway, but...
Barrick Gold, Thomson Reuters, TransCanada
 Canadian earnings declared Thursday as of 5 p.m. ET: AltaGas Ltd. (TSX:ALA): Three months 2010, $28,400,000, $0.35 a share; 2009, $36,900,000, $0.46 a share. Revenue: 2010...
U.S. Nuclear Projects Tied Up Awaiting Federal Loan Guarantees
 The so-called nuclear renaissance that was supposed to boost U.S. capacity to generate emissions- free power may stall as developers await decisions from the Obama...
Geithner to Speak on Obama’s Fiscal Plans, Aide Says
 U.S. Treasury Secretary Timothy F. Geithner next week plans to step up the Obama administration’s efforts to persuade lawmakers that tax cuts for wealthy Americans should...
Gross Rolls Down Curve for Non-Normal Bond Returns
 Bill Gross is realizing outsized gains by benefitting from the near record difference in yields between short- and longer-maturity bonds while preaching that investors should...
Russian Pilot Rescued After Capture by Darfur Militia, UN Says
 A Russian helicopter pilot with the United Nations and African Union joint peacekeeping mission in the Darfur region of Sudan was rescued today after being seized and beaten by...
Microsoft’s Ballmer Says Tablets Top of Mind Amid Apple Success
 Microsoft Corp. Chief Executive Officer Steve Ballmer said tablet computers are a big issue for him as Apple Inc. seized the momentum in a category Microsoft has worked on for...
Franklin Resources earnings rise 21% in Q2
 ... earned $360.5 million in the second quarter, up 21 percent from $297.7 million the year earlier period. In the first half, the investment company earned $1.1 billion, up from $529.4 million in the...
Franklin Resources earnings rise 21% in Q2
 ... earned $360.5 million in the second quarter, up 21 percent from $297.7 million the year earlier period. In the first half, the investment company earned $1.1 billion, up from $529.4 million in the...
SAIL Q1 net dips 11.5% to Rs 1,177cr on lower sales
 NEW DELHI: SAIL on Thursday said its profit for the first quarter of the current fiscal declined by 11.5% to Rs 1,176.5 crore mainly due to lower sales and high input cost. "In the first quarter...
Flying to Europe with more than a bag Pay extra
 NEW DELHI: Passengers flying between India and US on American carriers aren't the only ones who need to pay extra for checking-in more than one bag. Now flying to Europe will also render similar ...
NTC starts land e-auction, eyes Rs 5,000cr
 NEW DELHI: National Textiles Corporation is expecting to raise over Rs 5,000 crore from sale of about 55 acres of surplus land in Mumbai in the ongoing fiscal, textile minister Dayanidhi Maran...
Noel being groomed to head Tatas
 In what could possibly be seen as a build up to the speculation that Noel Naval Tata may eventually succeed Ratan Tata, his half brother, as chairman of the $72 billion Tata empire, Noel ...
Noel's entry in board to usher in clarity
 A few months ago, Noel was inducted on the board of the company, which was earlier known as Tata Exports. After the exit of Sudhir Deoras as MD in 2006, Tata International did not have ...
'Every brand to track environmental impact'
 It's a paradigm shift that is taking place at leading consumer products company, Hindustan Unilever, in the manner in which it scrutinizes every new product launch or relaunch. With ...
Security standoffs to hit telecom users
 NEW DELHI: Telecom consumers are soon likely to find themselves in the middle of a government-industry face-off over security issues, with the entire telecom value chain now under the security ...
Toyota recalls 412,000 cars, mostly large sedans sold in US
 NEW YORK: Toyota is recalling nearly half a million cars, most of them large sedans sold in the US, for problems that can cause the steering wheel to lock up. It's the latest indication that the ...
Big Oil posts better profits on higher fuel prices
 In this file photo an unidentified oilfield worker ties pipes to be raised on an oil rig as the sun sets in the Persian Gulf desert oil field of Sakhir, Bahrain. Exxon earned the majority of its...
GM will apply in August to file IPO
 DETROIT — General Motors Co. will file paperwork in mid-August to start the process of selling stock to the public, the head of the United Auto Workers union said Thursday. President Bob...

 

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