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CompareCC News Archive Listing for Business during 2009-08-28.
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Stocks and Bonds: Shares Wander Through Day but Close Higher
 
Trading has been erratic over the last week, even amid data showing improvements in housing and consumer confidence.
Japan jobless rate hits new high
 
Japan's unemployment rate rose to a record 5.7% in July while consumer prices fell at a record pace.
Toyota pulls plug on US factory
 
Toyota pulls out of a production plant in the US it jointly owns with General Motors, the first time it has abandoned a factory.
Support for tax to curb bonuses
 
Lord Turner, the boss of the UK's financial watchdog, says he would happily consider a bank tax to prevent excessive bonuses.
Italy woes hit Carrefour results
 
Retail giant Carrefour reports a loss for the first half of the year, largely due to problems at an Italian partner.
Business class drop hits Iberia
 
Spanish airline Iberia records a loss for the first half of the year after demand from business class passengers fell.
Independent wary about ad outlook
 
Independent News & Media reports a half-year loss and predicts no pick-up in advertising in the next six months.
Tengzhong may finalize Hummer deal next week: source
 
Reuters - China's Tengzhong may finalize a deal with General Motors as early as next week to acquire the U.S. automaker's Hummer brand, a source familiar with the deal said on Friday.
SEC chair: Derivatives data key for probes
 
Reuters - Getting better access to information on derivative transactions was a 'critical' factor in U.S. regulators' efforts to curb market abuses, Securities and Exchange Commission Chairman Mary Schapiro told Bloomberg in an interview.
Carrefour books first-half loss of $82.75 million
 
AP - Carrefour SA, the world's second-largest retailer, said Friday it made a euro58 million ($82.75 million) loss in the first half, hit by a one-off charge writing down the value of Italian assets and as recession-shy shoppers cut back on spending.
Unicom to Bring iPhone to China
 
China Unicom said Friday it will sell Apple?s iPhones in China this year, ending months of rumor about when the hit phone would make its long-delayed debut in the world?s most populous mobile market.
China signs deal to sell iPhones
 
Mobile operator China Unicom signs a deal with Apple to launch the iPhone into the world's largest mobile phone market.
UK economy shrinks less than thought
 
The UK economy shrank by 0.7% between April and June, less than the previous estimate of a 0.8% contraction.
US economic shrinkage unrevised
 
The US economy shrank at an annual pace of 1% between April and June, unchanged from last month's initial estimate.
Johnston Press reports £94m loss
 
A drop in advertising revenue sees newspaper group Johnston Press report half-year pre-tax losses of £94.2m.
House prices rise most in 5 years
 
House prices in England and Wales recorded the biggest monthly leap in value since July 2004 last month, the Land Registry says.
Rents rising as landlords sell up
 
The cost of renting a home is rising as 'reluctant landlords' sell up in the recovering housing market, surveys suggest.
German govt focused on Magna's Opel bid: report
 
Reuters - German Chancellor Angela Merkel said her government is committed to its negotiating stance over carmaker Opel, which has strongly favored auto parts maker Magna's (MGa.TO) bid, a newspaper reported.
Stock index futures point to rise on Wall St
 
Reuters - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 stock indexes are up from 0.2 to 0.4 percent, pointing to a higher start when the U.S. markets open on Friday.
European Stocks Higher After Mixed Day in Asia
 
Stocks rose as strong earnings from consumer goods companies and a rise in European economic confidence suggested that household spending may be picking up.
PetroChina Posts Biggest Profit in 3 Quarters
 
PetroChina?s net profit was $4.62 billion for the quarter as higher fuel prices in China offset the decline in crude oil.
Carrefour Swings to First-Half Loss
 
The world?s second-largest retailer posted a $82.75 million loss in the first half, hit by a charge writing down the value of Italian assets and reduced spending by recession-shy shoppers.
Iceland to pay back Icesave cash
 
The Icelandic parliament votes in favour of repaying more than $5bn (£3bn) to the governments of the UK and the Netherlands.
Nigeria banking system 'stable'
 
The governor of Nigeria's Central Bank says the country's banking system is sound following the financial scandal that has rocked the country.
House price rise hits 5-year high
 
House prices in England and Wales recorded the biggest monthly leap since July 2004 last month, the Land Registry says.
Diageo protest at golf tournament
 
Workers protesting against job losses at drinks firm Diageo target a golf championship sponsored by the firm.
Dell results boost futures; consumer data on tap
 
Reuters - Stock futures rose on Friday after a better-than expected quarterly performance from computer maker Dell Inc boosted the technology sector ahead of key U.S. consumer data.
Tiffany results beat estimates; FY outlook raised
 
Reuters - Tiffany & Co reported higher-than-expected quarterly earnings on cost cuts, and the retailer raised its full-year outlook as demand for jewelry increased, sending its shares up more than 7 percent.
Germany says talks with GM on Opel far from over
 
Reuters - The German government said on Friday its talks with General Motors on the sale of carmaker Opel would take some time yet and made clear it still favored a bid from Canadian supplier Magna.
Tiffany 2Q profit falls, tops view, boosts outlook
 
AP - Tiffany & Co. said Friday that its second-quarter profit fell 30 percent on lower sales, but the results beat analysts' estimates. The luxury retailer also raised its full-year earnings guidance, saying its August sales trends are meeting expectations.
Intel Lifts Its Revenue Forecast
 
Citing strong demand for its chips, Intel said it now expected sales of $8.8 billion to $9.2 billion in the current quarter.
Household Income Flat as Consumer Spending Rises
 
Spending edged up in July with help from the ?cash for clunkers? program, but household incomes, the fuel for future spending increases, were unchanged.
Wall Street Slips Into a Holding Pattern
 
Shares tried to extend their gains after the chipmaker Intel raised its revenue guidance for the third quarter.
Tiffany Posts Lower Profit but Raises Outlook
 
The luxury retailer said that its second-quarter profit fell 30 percent on lower sales, but it raised its full-year earnings guidance, saying its August sales trends are meeting expectations.
US consumer spending rises again
 
US consumer spending rose slightly in July, helped in part by the government's 'cash for clunkers' car scrappage scheme.
New airline routes promise jobs
 
Around 250 new jobs are created at East Midlands Airport after airline Jet2 announced it will have a base there from next Spring.
Intel, Dell boost Wall Street at open
 
Reuters - Wall Street opened higher on Friday after an improved revenue forecast from Intel Corp and better-than expected quarterly profit from Dell Inc boosted the technology sector and consumer spending rose in July.
"Cash-for-clunkers" lifts consumer spending, incomes flat
 
Reuters - U.S. consumer spending edged up in July, lifted by the government's 'cash-for-clunkers' program that fueled demand for autos, offering hope a rise in consumption will help fuel an economic recovery.
Consumer mood at 4-month low
 
Reuters - U.S. consumer confidence fell to its lowest in four months in August on worries over high unemployment and dismal personal finances, though the mood managed to improve from earlier this month, a survey showed on Friday.
Tiffany results top view
 
Reuters - Tiffany & Co posted higher-than-expected quarterly earnings on cost cuts and slightly recovering demand for jewelry, and raised its full-year outlook, sending its shares up more than 8 percent.
Stocks mixed after Intel boosts forecast
 
AP - Stocks were mixed in early trading Friday as technology shares got a boost from a rosy sales outlook from Intel Corp.
DealBook: S.E.C. Audit Urges Changes to Rating Agency Rules
 
The inspector general of the Securities and Exchange Commission recommended a broad range of improvements to the agency?s oversight of the nation?s credit ratings agencies.
Iceland to Repay 2 Countries for Failed Bank
 
Iceland will repay Britain and the Netherlands the $5.7 billion it borrowed to compensate people who lost money in the collapse of an Icelandic Internet bank.
Patient Money: Viagra and Its Ilk Aren?t the Only Treatments Around
 
For some, the pills don?t work. And even if they do, there are more cost-effective ways to treat a problem that grows more common with age.
Hermes Profit Down 7% in First Half
 
The luxury goods maker blamed the drop in profit on currency fluctuations and a lower rate of return on financial investments.
Argentine farmers resume strikes
 
Argentine farmers resume strikes as part of a bitter dispute with the government over taxes on soya bean exports.
Consumer spending up, but morale sinks
 
Reuters - Worries over high unemployment battered U.S. consumer confidence to a four-month trough in August, while spending rose modestly in July, indicating the economy faced a rocky road to recovery.
Weak consumer data saps Wall Street gains
 
Reuters - Stocks gave up most of their gains on Friday after initially spiking to 10-month highs as weak consumer sentiment data offset an upbeat forecast from chipmaker Intel and better-than-expected profit from computer maker Dell.
Whirlpool to cut about 1,100 jobs
 
Reuters - Whirlpool Corp said on Friday that it plans to shut a manufacturing facility in Evansville, Indiana, and move some production to Mexico next year, a change that will eliminate about 1,100 full-time U.S. positions but will not affect the company's 2009 forecast.
U.S. double-dip recession "out of the question": ECRI
 
Reuters - A weekly measure of future U.S. economic growth slipped in the latest week, though its yearly growth rate surged to a 38-year high that suggests chances of a double-dip recession are slim.
Stocks fall as market rally loses steam
 
AP - Stocks fell Friday as investors hesitated to extend the market's recent rally despite an improved outlook from Intel Corp.
Consumers Enticed to Spend More in July, Data Say
 
Americans are generally cutting back, but new reports suggest that car rebates and tax credits for new homebuyers helped lift consumer spending in July.
Nomura Hires 3 Executives for Fixed-Income Unit
 
The Japanese bank has hired officials from Deutsche Bank and Barclays Capital as part of an effort to expand market share in the United States.
Court Rejects F.C.C. Cap on Cable Market Share
 
The verdict was a victory for the largest cable company, Comcast Corp., which has 26 percent share and sued to block the rule.
Wall Street drops on weak consumer data, but techs help
 
Reuters - Stocks fell on Friday, pressured after a weak report on consumer sentiment outweighed some positive quarterly results and outlooks.
Guaranty Financial files Chapter 11
 
Reuters - Guaranty Financial Group Inc has filed for Chapter 11 bankruptcy protection, less than a week after regulators seized its banking unit and sold most of its assets to the Spanish bank, Banco Bilbao Vizcaya Argentaria SA .
As Internet Booms, the Postal Service Fights Back
 
Facing a $7 billion deficit, postal officials argue that as the economy rebounds, so will life-sustaining advertising mail.
Off the Charts: In Home Prices, Back at Square One After 8 Years
 
After the boom and bust in real estate, home prices have basically stayed even with inflation.
News Analysis: Lost in Japan?s Election Season: The Economy
 
The momentous Japanese election has focused surprisingly little attention on the pressing problems that threaten the world?s second largest economy.
Appeals Court Rejects Cap on Cable Ownership
 
The decision was a victory for the largest cable company, Comcast Corporation, which has 25 percent share and sued to block the rule.
On the Fifth Day, the Dow Slips Slightly
 
Shares tried to extend their gains after the chipmaker Intel raised its revenue guidance, but fell back in late-morning trading.
Murdoch attack on 'dominant' BBC
 
News Corp's James Murdoch says that a 'dominant' BBC threatens independent journalism in the UK and also attacked the government.
Dow, S&P dip on data, but Nasdaq stays afloat
 
Reuters - U.S. stocks mostly slipped on Friday after a weak consumer sentiment report offset positive news from bellwethers Dell Inc and Intel Corp
Stocks mostly lower; Nasdaq buoyed by Intel news
 
AP - Stocks mostly fell Friday as investors balked at extending the market's recent rally despite an improved outlook from Intel Corp.
Blockbuster shares jump after Irish retailer sale
 
AP - Shares of Blockbuster Inc. jumped Friday after the chain said it sold Irish entertainment retailer Xtra-vision Ltd. in a deal valued at up to $45 million.
DealBook: Investors Flock to Leave Cerberus Funds
 
Clients with more than $5.5 billion invested in hedge funds controlled by Cerberus Capital Management have told the secretive investment firm that they want their money back.
Guilty Plea in Theft of Retail Card Numbers
 
Albert Gonzalez, 28, was accused of helping to steal millions of credit card and debit card numbers from major retail chains.
Your Money: Spending Enough, but Not Too Much, in Retirement
 
One adviser offers a formula that helps retirees raise or lower their withdrawals depending on the performance of the stock market.
Dow, S&P dip; Nasdaq ekes out gain on Dell, Intel
 
Reuters - U.S. stocks mostly slipped on Friday after a weak consumer sentiment report offset positive news from bellwethers Dell Inc and Intel Corp .
Off the Charts: After a Bumpy Ride, Back at Square One
 
After the boom and bust in real estate, home prices have basically stayed even with inflation.
Inspector Faults S.E.C. on Oversight of Rating Agencies
 
The agency?s inspector general said in a report that the commission delayed adopting new rules and failed to follow existing ones.
Nearing Takeover, Sun Reports a Loss
 
Sun, which is being acquired by Oracle for $7 billion, posted a net loss of $147 million, or 20 cents a share, in the fourth quarter.
Man Accused of Stealing Stores? Data Pleads Guilty
 
Albert Gonzalez, 28, was accused of helping to steal millions of credit card and debit card numbers from major retail chains.
Iceland to Repay Nations For Failed Banks? Deposits
 
Iceland will repay Britain and the Netherlands the $5.7 billion it borrowed to compensate people who lost money in the collapse of an Icelandic Internet bank.
Corporate Sleuth Plans to Start Credit Rating Firm
 
Jules Kroll plans to use his corporate intelligence skills to analyze the creditworthiness of companies, an opportunity created by the subprime mortgage crisis.
Markets Are Mixed in Tepid Trading
 
Shares tried to extend their gains after the chipmaker Intel raised its revenue guidance, but fell back in late-morning trading.
Talking Business: It?s Time to Admit That Money Funds Involve Risk
 
Money markets are investment vehicles, not bank savings accounts, which means (shudder) investors may sometimes lose money.
Your Money: How Retirees Can Spend Enough, but Not Too Much
 
One adviser offers a formula that helps retirees raise or lower their withdrawals depending on the performance of the stock market.
'Generous pensions' row reignites
 
Employers would have to contribute up to 35% of an employee's salary to match the public sector, a study claims.
'Not enough women in technology'
 
There are still too few women working in technology in the UK, the government's digital champion Martha Lane Fox tells the BBC.
Coupons You Don?t Clip, Sent to Your Cellphone
 
Mobile coupons ? usually text messages with discount codes sent to a cellphone ? are becoming the blue-light specials for the digital age.
A Reluctance to Spend May Be a Legacy of the Recession
 
Even though consumer spending rose in July, many Americans are still watching their pennies, and some said their newfound frugality would not be temporary.
Investors in Cerberus Seek to Pull $5.5 Billion
 
The pessimism of the investors, 71 percent of those with stakes in the two Cerberus Partners funds, is another black eye for the firm.
?Non-GMO? Seal Identifies Foods Mostly Biotech-Free
 
Many makers of organic and natural foods said their credibility depended on ensuring that their products were free of genetically altered ingredients.
Patient Money: For Common Male Problem, Hope Beyond a Pill
 
For some, pills like Viagra and Cialis don?t work. And even if they do, there are more cost-effective ways to treat a problem that grows more common with age.
Decision to Close Plant Casts Toyota in Unfamiliar Role
 
An automaker whose success led rivals to cut jobs now does the same, at its Nummi plant in Fremont, Calif.
Apple Reaches Agreement to Sell the iPhone in China
 
The companies did not give financial details or the cost of the iPhone in China, but it is expected to go on sale in the fourth quarter.
Alex Grass, Helped to Start Rite Aid, Dies at 82
 
Mr. Grass helped transform a discount store in Scranton, Pa., into Rite Aid, one of the nation?s largest drugstore chains.
Shortcuts: For Best Results, Take the Sting Out of Criticism
 
Criticism can teach valuable lessons, if delivered and received in a positive way. Upbringing and culture can account for great differences in one?s personal language of criticism.
Wilpon Again Answers Speculation Over Madoff Losses and Mets? State
 
Fred Wilpon, the Mets? principal owner, tried to temper concerns that he and his team have been scarred financially by the losses caused by Bernard L. Madoff?s Ponzi scheme.
Business Briefing | Companies: Federal Regulators Close 2 More Banks
 
Regulators shut down small banks in Maryland and Minnesota on Friday, pushing to 83 the number of bank failures this year.
Business Briefing | Economies: Report Card on British Economy Improves
 
Britain?s economy shrank less than previously estimated during the second quarter, supporting hopes that the country would emerge from the recession this quarter.
Business Briefing | Economies: Canada?s Trade Deficit Swells to a Record
 
Falling exports caused Canada?s deficit to swell to a record high of $10.4 billion, cementing expectations that the economy contracted in the quarter.
Business Briefing | Legal: U.P.S. Is Sued Over Disabilities Policy
 
A federal agency has sued United Parcel Service, accusing it of violating federal law by limiting workers? ability to take medical leave.
Business Briefing | Companies: Tiffany?s Profit Falls but Tops Forecasts
 
Tiffany & Company said its second-quarter profit fell but beat analysts? expectations as its steep sales decline moderated, providing a sparkle of hope in the luxury market.
Alex Grass, Who Helped to Start Rite Aid, Dies at 82
 
Mr. Grass helped transform a discount store in Scranton, Pa., into Rite Aid, one of the nation?s largest drugstore chains.
Some Fear Profit Motive to Trump Poverty Efforts in Microfinance
 
Companies like PlaNet Finance and BlueOrchard attract not only public investors, but private ones seeking a ''double bottom line'' of socially responsible returns.
Wilpon Addresses Doubts Over Madoff Losses and Mets
 
Fred Wilpon, the Mets? principal owner, tried to temper concerns that he and his team have been scarred financially by the losses caused by Bernard L. Madoff?s Ponzi scheme.
China's CIC wealth fund muscles up as markets recover
 
Reuters - China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund, said on Saturday.

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