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CompareCC News Archive Listing for Business during 2009-06-22.
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Emerging nations' growth to slow
 
The economies of developing countries will grow by just 1.2% this year, according to the World Bank.
Nikkei extends gains on firm Asian shares
 
Reuters - Japan's Nikkei stock average extended gains on Monday to rise 0.9 percent as investors were heartened by a broad rise in Asian shares, with car battery maker GS Yuasa Corp rebounding after a sell-off.
Blavatnik to sue JPMorgan over investment losses: report
 
Reuters - U.S. billionaire Len Blavatnik is planning to file a lawsuit against JPMorgan Chase on Monday, accusing the bank of mismanaging an investment account that held $1 billion in assets owned by Blavatnik's industrial holding company, Access Industries, the New York Times said.
Aviva sells Australian business
 
National Australia Bank pays $660m (£401m) for UK insurer Aviva's Australian wealth management businesses.
RBS boss set for £9.6m pay deal
 
RBS, which is 70% taxpayer-owned, is set to announce a lucrative pay deal for its boss Stephen Hester.
Setanta live games up for grabs
 
Bids close on Monday for the 46 live English Premier League games that were to have been shown by Setanta.
Carer grandparents 'face poverty'
 
Younger grandparents caring for grandchildren and their own parents are caught in a poverty trap, a charity says.
Asia stocks rise, U.S. bonds flat ahead of Fed
 
Reuters - Asian stocks rose on Monday, with Chinese bank stocks getting a boost on hopes lending will stay strong, while U.S. Treasury yields were flat before a weekly record of $104 billion in new debt hits the market.
German firms' confidence rises
 
Firms in Germany are more confident now than they have been for seven months, according to a key index.
UK announces £5m aid for Zimbabwe
 
British Prime Minister Gordon Brown announces the UK will provide an extra £5m ($8m) of transitional aid to Zimbabwe.
Laying the tracks
 
Ethiopia looks to revive glories of its imperial railway
Sacked oil workers burn letters
 
Workers at the Lindsey oil refinery who were sacked for taking unofficial strike action have burned their dismissal letters in protest.
Repossession risk 'overestimated'
 
The Council of Mortgage Lenders cuts its forecast for the number of homes expected to be repossessed in 2009 to 65,000.
Stock futures signal losses
 
Reuters - Stock futures pointed to a lower open on Wall Street Monday, as stocks were poised to trim recent gains with investors turning cautious ahead of this week's Federal Reserve meeting and a flurry of macro data.
World Bank Cuts Forecast for Developed Economies
 
Detailed forecasts released Monday show that the U.S., the euro zone and Japan will be among the hardest hit by the global recession this year.
Bain Capital to Invest in Chinese Retailer
 
The deal between the American private equity firm and Gome Electrical Appliances could be worth $432 million.
Asian Markets Rise on Optimism About China
 
Asian stock markets rose for a second session Monday, with Hong Kong?s benchmark spiking more than 2 percent, after the Chinese premier said the economy was improving.
Mind Your BlackBerry or Mind Your Manners
 
As Web-enabled smartphones have become standard, the etiquette of using them during meetings is up for debate.
Anglo shares jump on merger talk
 
Shares in mining group Anglo-American rise by close to 10% after a merger approach from rival Xstrata.
Japan Airlines to receive bailout
 
Japan Airlines is to receive emergency state funding after being hit by the economic downturn.
Debt woes hit Independent shares
 
Newspaper publisher Independent News & Media confirms it needs to raise money to pay off an outstanding bond.
Revenue warning over scam notice
 
The UK's tax body warns people to ignore a fraudulent e-mail that suggests recipients are able to receive money from HMRC.
Stock futures point to lower open on economic malaise
 
Reuters - Wall Street was poised for a lower open on Monday as investors assessed the potential strength of an economic recovery ahead of a round of key data this week.
Walgreen profit slips
 
Reuters - Walgreen Co posted a slightly lower quarterly profit as shoppers remained focused on buying only necessities.
'Vanilla' home loans could benefit borrowers
 
AP - If President Barack Obama gets his way, consumers who take out mortgages would automatically get a 'plain vanilla' loan — such as a traditional 30-year fixed-rate mortgage — unless they opted for a riskier variety.
Wall Street Starts Week With a Sharp Slide
 
Wall Street fell as lowered expectations for the global economy gave investors more to be wary about.
Nigeria may allow bank investment
 
Nigeria's central bank has indicated that it is prepared to lift a long-standing ban on foreign ownership of its banks.
Refinery sackings spark walkouts
 
Thousands of workers in England and Wales walk out in support of 650 Lindsey oil refinery staff sacked for staging unofficial strikes.
Wall Street opens down on economy and oil
 
Reuters - Stocks opened lower on Monday as investors assessed the potential strength of an economic recovery, while energy shares were pressured as a stronger U.S. dollar hurt oil prices.
Anglo jumps after Xstrata seeks merger talks
 
Reuters - Shares in Anglo American Plc jumped as much as 12 percent on Monday after rival Xstrata Plc sought talks about a merger of equals to better compete in a consolidating mining sector.
Walgreen profit slips on inventory revamp
 
Reuters - Walgreen Co posted a slightly lower quarterly profit that fell short of expectations as it spent on overhauling its product assortment, while shoppers focused on buying only necessities.
Europe Said to Delay Decision on Troop Transporter
 
Ministers agreed to postpone their decision on the A400M, Europe?s biggest defense project, by another month, Spain?s junior defense minister said.
Sales Improve, but Profit Falls 9% at Walgreen
 
The drugstore operator said that greater expenses, including its reorganization efforts, reduced its third-quarter income.
Speed bumps
 
Force India on its cars and Formula One ambitions
Beefing up
 
Going back to the farm to beat the recession
Culture shock
 
The City's big names call for big changes
M&S boss to forgo part of bonus
 
Marks and Spencer boss Sir Stuart Rose will waive one-third of his bonus award - shares currently valued at £1.18m.
Surveyors see a decline in rents
 
The proportion of surveyors reporting a fall in rents his its highest level since the survey began in 1999.
Wall Street extends losses, S&P 500 off 2 percent
 
Reuters - Stocks extended losses on Monday as investors questioned the potential strength of an economic recovery, while resource shares were dragged down by lower oil prices.
Anglo investors want premium for Xstrata merger
 
Reuters - Top shareholders in Anglo American brushed off rival Xstrata's plan for a merger of equals on Monday and pressed for a big premium to create a giant to compete in a consolidating mining sector.
Wall St. Starts Week With a Slide
 
Resurgent fears about the struggling economy jolted Wall Street, dragging stocks broadly lower after their first losing week in a month.
Brokerage Firm and 4 Others Sued in Madoff Case
 
Regulators have accused four people of knowingly steering billions of dollars into Bernard L. Madoff?s Ponzi scheme.
Low oil price pushes markets down
 
Stock markets see large falls as falling commodity prices and a World Bank report dampens sentiment.
Anglo rejects Xstrata merger move
 
Mining giant Anglo-American has rejected an approach from Swiss-based rival Xstrata about a possible merger.
ESPN buys rights to Setanta games
 
ESPN buys rights to 46 English Premier League games next season due to be shown by struggling broadcaster Setanta.
Wall Street drops with energy shares, economic worries
 
Reuters - Stocks fell on Monday as a sharp drop in oil prices weighed on energy company shares, while a global forecast fueled worries about an economic recovery.
Anglo rejects Xstrata merger of equals plan
 
Reuters - Anglo American rejected rival mining group Xstrata's 'merger of equals' proposal on Monday, knocking a no-premium marriage and a combination with what it regards as Xstrata's inferior mines.
Walgreen profit slips, hit by inventory revamp
 
Reuters - Walgreen Co posted a steeper-than-expected drop in quarterly profit on Monday as it wrote down the value of items being taken off its shelves as part of store makeover aimed at winning over shoppers.
Itineraries: Airport Projects Join the ?Delayed or Canceled? List
 
As airports scale back, delay or cancel many capital improvement projects, they risk paying higher costs once the number of passengers increases.
After Down Week, Markets Have a Down Day
 
Resurgent fears about the struggling economy jolted Wall Street, dragging stocks broadly lower after their first losing week in a month.
The Caucus: Obama Reverts to Campaign Motto
 
In touting a deal with drug companies to reduce prescription costs, the president scolds those who don't believe health care reform will get done this year.
Anglo American Rejects Merger Bid by Mining Rival
 
Anglo American rejected on Monday a proposal to merge from the British-Swiss mining company Xstrata, calling a combination ?unattractive? and Xstrata?s terms ?totally unacceptable.?
Europe Delays Decision on Troop Transporter
 
Ministers agreed to postpone their decision on the A400M, Europe?s biggest defense project, by another month, Spain?s junior defense minister said.
Wall Street drops with energy companies, economic worries
 
Reuters - Stocks fell on Monday as a sharp drop in oil prices prompted investors to sell some energy companies' shares, while a global forecast fueled worries about the sustainability of an economic recovery.
GE's Immelt would oppose splitting off finance arm
 
Reuters - General Electric Co opposes any regulation that would force it to split off its hefty finance business, the conglomerate's chief executive said in a memo to staff on Monday.
Fed says central OTC clearing would curb market risk
 
Reuters - Centralized clearing of over-the-counter derivatives would help to reduce the risk that these instruments pose to the wider financial system, a senior Federal Reserve official said on Monday.
Itineraries: Airport Projects Delayed or Canceled
 
As airports scale back, delay or cancel many capital improvement projects, they risk paying higher costs once the number of passengers increases.
Despite Law, Job Conditions Worsen in China
 
With China?s exports reeling and unemployment rising because of the global slowdown, there is growing evidence that factories are ignoring or evading a new contract labor law.
4 People and Firm Sued in Madoff Case
 
Regulators have accused four people of knowingly steering billions of dollars into Bernard L. Madoff?s Ponzi scheme.
Obama, Inviting Ideas Online, Finds a Few on the Fringe
 
When the White House asked people to post ideas on open government on a new Web site, it heard about U.F.O.?s, marijuana and the president?s birth certificate.
A Grim Morning After for Australian Wines
 
Once booming, Australian wine exports have dropped both in price and volume, leading to some soul searching about what went wrong.
Its Boeing Jets Delayed, Virgin Atlantic Turns to Airbus
 
Virgin plans to take delivery of 10 Airbus A330-300 aircraft between now and 2012, allowing the airline to expand while awaiting delivery of Boeing?s troubled 787 Dreamliner.
S&P turns negative for year in broad sell-off
 
Reuters - Stocks suffered their worst one-day loss in two months, dropping the S&P 500 back into negative territory for the year on Monday in a broad-based sell-off, as investors reconsidered the health of the economy.
Settlement Anticipated in UBS Case
 
The bank argues that disclosing client names would cause it to violate Swiss financial secrecy laws and open its executives and bankers to prosecution in Switzerland.
Anglo American Rejects Rival?s Merger Bid
 
Anglo American rejected on Monday a proposal to merge from the British-Swiss mining company Xstrata, calling a combination ?unattractive? and Xstrata?s terms ?totally unacceptable.?
Kodak Will Retire Kodachrome, Its Oldest Color Film Stock
 
The Eastman Kodak Company announced it would retire Kodachrome, its oldest film stock, because of declining customer demand in an increasingly digital age.
Crunch time for bank charges case
 
The future of overdraft fees paid by millions of customers could be decided after an appeal in the House of Lords this week.
Alert on misleading debt adverts
 
Borrowers have been warned to ignore misleading adverts which claim people can write off their debts or loans by selling them.
Family Loyalty Anchors Ford in Risky Times
 
Descendants of Henry Ford still meet regularly, and play a crucial role in guiding the automaker through troubled times for the industry.
Apple?s Secrecy on Products and Top Executives
 
Apple employees have been fired for leaking news tidbits to outsiders, and the company has been known to spread disinformation about product plans to its own workers.
Advertising: The Bright Side of Auto Ad Sales? They Could Be Worse
 
Some auto dealers, now with fewer competitors, might be more willing to advertise with local media.
2 Agencies Seek Joint Control Over Derivatives Markets
 
The Securities and Exchange Commission and Commodity Futures Trading Commission ask for ?clear, unimpeded oversight and enforcement authority.?.
New Inquiry in Surgeon?s Bone Study for Army
 
The inquiry focuses on Medtronic?s payment of tens of thousands of dollars to an Army surgeon while he was still on active service.
Frequent Flier: The Baby and I, and Doodle Pads
 
A writer flies around the world on book tours with her entire family in tow.
On the Road: Aspiring to Rate Rooms When Everyone?s a Critic
 
Given the slump in travel, you would think there would be no room for another hotel rating business. But no.
A Transplant That Is Raising Many Questions
 
While there is no easy way to cheat the system, wealthy patients in need of organs have an advantage in being able to join many waiting lists.
Hedge Funds Step Up Efforts to Avert Tougher Rules
 
With Congress intent on tighter regulation, fund managers are spending more money for donations and lobbying, and focusing on bargaining chips.
In a Campaign to Raise Rents, an Attempt to Humanize Landlords
 
A group representing thousands of landlords of rent-stabilized apartments has mounted a public relations campaign.
Breakingviews.com: Unwinding Fed Support
 
To avoid putting taxpayers on the hook again for Wall Street excesses, the Fed needs a clear strategy for winding the strategies down.

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