Yahoo! News: Business News

• Wall St futures signal weaker start for stocks (Reuters)
(Tue, 07 Sep 2010 08:54:38 GMT)

Reuters - LONDON (Reuters) Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fell 0.2 to 0.7 percent, pointing to a weaker start on Wall Street on Tuesday.


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• Oracle hires former HP's Mark Hurd (Reuters)
(Tue, 07 Sep 2010 06:17:50 GMT)

Reuters - Silicon Valley technology giant Oracle Corp has hired Mark Hurd, the former chief executive of Hewlett-Packard Co who resigned amid a scandal, as president.


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• Diamond gets top Barclays job (Reuters)
(Tue, 07 Sep 2010 08:56:31 GMT)

Reuters - Change swept through the top of Britain's banks on Tuesday as Barclays said its investment banking supremo Bob Diamond will take over as group chief executive next year and HSBC was expected to announce later that its chairman is going into government.


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• Obama kicks off campaign with infrastructure plan (Reuters)
(Tue, 07 Sep 2010 01:50:27 GMT)

Reuters - President Barack Obama, scrambling to spur job creation, proposed a six-year plan on Monday to rebuild infrastructure with an initial $50 billion investment and prepared new business tax cuts.


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• AIG seeks Sept 21 approval for AIA IPO: sources (Reuters)
(Tue, 07 Sep 2010 10:32:36 GMT)

Reuters - American International Group Inc plans to seek Hong Kong listing committee approval on September 21, to list its Asian life insurance unit, aiming to raise about $15 billion, two sources with direct knowledge of the deal said on Tuesday. ... Read

• Summary Box: Stock market snaps a three-week slump (AP)
(Fri, 03 Sep 2010 21:01:50 GMT)

AP - SEPTEMBER RALLY: The stock market had its first winning week in a month after better news on employment and manufacturing lifted shares. ... Read

• Obama to propose 100 billion tax credit (AFP)
(Mon, 06 Sep 2010 04:17:49 GMT)

AFP - President Barack Obama will call for a 100-billion-dollar business tax credit this week to boost the sagging US economic recovery, The Washington Post reported.


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• Campbell reports Q4 profit rise on better margins (AP)
(Fri, 03 Sep 2010 20:48:36 GMT)

AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.


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• EU nations OK financial supervision deal (AP)
(Tue, 07 Sep 2010 10:48:16 GMT)

AP - European Union countries have approved a financial oversight structure that should anticipate financial crises and contain the excessive risks that have been blamed for the global financial crisis of the past two years.


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• Petrobras sells 64 bln dlrs of stock to fund oil exploration (AFP)
(Fri, 03 Sep 2010 20:57:08 GMT)

AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.


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• Gulf council fails to finalise customs union pact (AFP)
(Tue, 07 Sep 2010 10:28:47 GMT)

AFP - The six members of the Gulf Cooperation Council have postponed the implementation on Tuesday of a customs union due to disagreement over sharing tariff revenues and problems meeting World Trade Organisation rules, officials said.


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• Venezuela OKs payment for French retailer Casino (Reuters)
(Sat, 04 Sep 2010 21:09:56 GMT)

Reuters - Venezuelan President Hugo Chavez has approved a $690 million payment to French retailer Casino and other owners of a supermarket chain nationalized earlier this year, state media said on Saturday. ... Read

• MGIC added $1.2B in mortgage coverage in August (AP)
(Fri, 03 Sep 2010 18:50:41 GMT)

AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined. ... Read

• US won't say if blowout preventer on way to shore (AP)
(Mon, 06 Sep 2010 20:24:33 GMT)

AP - The Justice Department won't say if the blowout preventer that failed to stop oil from gushing from BP's undersea well into the Gulf of Mexico is on its way to shore.


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• Official: Obama to back more business tax breaks (AP)
(Tue, 07 Sep 2010 10:40:30 GMT)

AP - An administration official says President Barack Obama will call for new tax breaks to allow businesses to write off 100 percent of their new capital investments through 2011. ... Read

• Kia's top executive resigns after recalls (AP)
(Tue, 07 Sep 2010 10:39:22 GMT)

AP - The top executive at Kia Motors has resigned after the company recalled more than 100,000 vehicles worldwide over defective wiring, the automaker said Tuesday.


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• Crafting a Career in Eco-Chic Jewelry (BusinessWeek)
(Fri, 03 Sep 2010 12:08:42 GMT)

BusinessWeek - Goldman Sachs may not have a lot of friends in the White House these days, but one of its former employees has made a good impression. After three years as an analyst in Goldman's fixed-income, currencies, and commodities division, Monique Pean began her own jewelry line that can now be found in Barneys, Jeffrey New York, and around the neck of Michelle Obama. ... Read

Yahoo! News: Business News

Latest financial news - CNNMoney.com

• Obama to introduce another business tax cut
(In another move aimed at stabilizing the still-shaky economy, President Barack Obama on Wednesday will introduce a new $200 billion tax cut giving businesses across the country an incentive to buy new equipment in the short term, according to a senior administration official.)

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• Stocks poised to slip
(U.S. stocks were poised to open lower Tuesday, coming off the previous week's gains and following global markets lower, as renewed worries about the economy weighed on investors.)

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• GM's long overconfidence game
(In 1982, General Motors closed its manufacturing plant in Fremont, Calif. The location, far from Detroit auto suppliers, was considered among the worst-performing assembly lines in the company's system. Roger Smith had become GM's chairman the year before Fremont was closed, and he had begun to think of ways to reorganize the car company. He knew there was a problem; he just wasn't sure what it was, exactly, or how to fix it.)

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• A reward for responsible homeowners
(The government has bailed out Wall Street firms, giant banks, creditors of Fannie Mae and Freddie Mac -- and is trying to bail out people who've defaulted or are about to default on their mortgages. But let's say you're a hardworking family that has done nothing wrong except buy a home when the housing bubble was at its peak a few years ago. Your mortgage is now way underwater, but you're still making payments because you want to stay in your home -- and you're actually honorable. You're paying for everyone else's bailout, but because you have no equity in your house, you can't refinance to take advantage of the ultra-low mortgage rates that Uncle Sam's bailout strategy has produced. To use the technical term, you're being screwed.)

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• Four unexpected economic bright spots
(Good economic news has been hard to come by lately, but not all is doom and gloom in America these days. The end of summer ushered in a few signs of progress in some of the unlikeliest corners of the economy. They are no guarantee that the good times are around the corner, but they do provide a helpful reminder that this slow recovery is exactly that: a recovery.)

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• Startups flock to Twitter headquarters
(Sharing ideas and office space in the tech field is as common as sharing API's, but the collaborative sprit runs especially deep at San Francisco's 795 Folsom Road.)

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• The new young investor: Shunning stocks
(When 18-year-old Robert White decided to jumpstart his retirement plan, he invested his life savings of $25,000 into an aggressive mutual fund.)

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• Johnson & Johnson CEO Bill Weldon's painful year
(What started last year as a series of small drug recalls at Johnson & Johnson exploded this summer into a full-blown crisis in quality control. But for months there was nary a peep from CEO Bill Weldon.)

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• What went wrong with Gardasil
(Mon, 06 Sep 2010 23:26:13 EDT)

There's a liquid drug that women can get injected into a layer of muscle -- three separate times over a six-month period -- that can protect them from a kind of cancer. From a scientific perspective, that's amazing. In terms of public health, it's a breakthrough. ... Read

• Mark Hurd lands at Oracle
(Mon, 06 Sep 2010 22:10:23 EDT)

Mark Hurd, who abruptly resigned last month as chief executive of Hewlett-Packard, has landed at another big tech company. ... Read

• World markets rally, Nikkei gains 2%
(World markets rallied Monday, with Asian stocks logging their fourth straight session of gains.)

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• Wall Street faces an economy at a 'crossroads'
(Stocks started September with a bang as investors cheered a rare dose of good economic news but investors may need to buckle in for the coming week: It's a holiday-shortened week with little on the docket to set the tone.)

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• 81% rate U.S. economy as 'poor' - CNN poll
(A new national poll released Sunday indicates that eight in 10 Americans say that the economy is in poor shape, and the number that say conditions are very poor is on the upswing after steady declines through the spring.)

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• Obama's economy boost - just don't call it stimulus
(President Obama is pledging to propose a new package of job-boosting ideas next week -- just don't call it stimulus.)

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• Dollar slips on return to risk
(As better-than-expected economic data boosted investor morale this week, the greenback lost some of its luster, falling against a basket of currencies.)

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• Where the jobs are now, and where they'll be next
(Fri, 03 Sep 2010 15:07:10 EDT)

U.S. companies modestly added jobs in August, easing concerns that the nation might slip back into a recession. The latest jobs report released by the Labor Department today is better than expected. Employment in the private sector rose by 67,000 payrolls, after a revised 107,000 increase in July that was more than originally estimated. The report immediately sent stocks rallying, despite the fact that overall employment dropped and the unemployment rate climbed to 9.6% from 9.5%, as more people actively searched for jobs. ... Read

• What went wrong at Burger King
(It's not yet clear what Burger King's new owner, the Brazilian-backed private equity firm 3G Capital, has in mind for the troubled No. 2 fast-food chain. But a total strategic revamp is in order.)

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• Dow back in the black for 2010
(Stocks closed near session highs Friday, with the Dow erasing its losses for the year, as investors welcomed a better-than-expected report on the U.S. job market.)

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• Strongest jobs recovery in decades. Seriously
(Fri, 03 Sep 2010 09:42:45 EDT)

A jobless recovery? Hardly. ... Read

• August jobs report: Signs of life for employment
(Business hiring is picking up, but not enough to make up for the massive losses of temporary government jobs.)

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