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CompareCC News Archive Listing for Business during 2010-03-26.
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Japan's deflation gloom continues
 
Consumer prices in Japan are continuing to fall, latest figures show, threatening the country's recovery from recession.
Japan's consumer prices keep falling in February
 
AP - Japan's consumer prices kept falling in February as deflation strengthened its hold on the world's second biggest economy.
Oil rises to near $81 as US dollar weakens
 
AP - Oil prices rose to near $81 a barrel Friday in Asia as the U.S. dollar weakened, making dollar-based commodities cheaper for investors with other currencies.
China VP due in Sweden as Volvo takeover nears
 
AFP - Chinese Vice President Xi Jinping is due in Sweden this weekend, amid signs that Chinese carmaker Geely could soon formally seal a deal to buy troubled Volvo from US auto giant Ford.
FA 'should not run England team'
 
Wigan chairman Dave Whelan calls for a radical overhaul of the Football Association and even suggests the Premier League should run the England team.
Great strides
 
Dubai horse racing industry overcomes gloom
Heathrow runway ruling awaited
 
The High Court is set to rule on a judicial review brought against the government's approval of a third runway at Heathrow Airport.
Labour cuts 'tougher than 1980s'
 
If Labour is re-elected spending cuts will be 'tougher and deeper' than those under Margaret Thatcher, Alistair Darling accepts.
Times website to charge from June
 
The Times and Sunday Times newspapers will start charging to access their websites in June, News International announces.
Asia stocks up after Greek rescue plan; Europe off
 
AP - Asian stock markets rose and the euro regained some ground Friday after Europe agreed to a rescue plan for Greece if the country's debt crisis deepens. European shares were off slightly
China becomes last nation to lift ban on US pork
 
AP - Nearly a year after nations banned U.S. pork over fears about swine flu, China has become the last one to lift its embargo and is expected to accept shipments by early next month.
China could resume flexible exchange rate: adviser
 
AFP - China could adopt a more flexible exchange rate policy once the global economy is back on a sure footing, a central bank adviser said Friday, as pressure intensifies on Beijing to let the yuan rise.
GM expects to repay $1 billion loan to Treasury: report
 
Reuters - General Motors Co expects to repay $1 billion to the U.S. Treasury on Wednesday, attempting to settle the loan with the government ahead of schedule, the Wall Street Journal said, citing a person familiar with the plan.
Euro strengthens on Greece deal
 
The euro strengthens against the dollar and the pound after eurozone leaders agree a financial aid package for Greece.
BA: 'No compromise' on crew perks
 
BA boss Willie Walsh insists travel perks will never be reinstated for striking cabin crew, but he is still open for peace talks.
US credit card hacker sentenced
 
A US court sentences computer expert Albert Gonzalez to 20 years in prison for stealing credit card numbers.
Pension trustees on fraud charges
 
Two former trustees of a Nottingham pension firm are charged over an alleged £52m fraud.
European markets ambivalent over Greek aid plan
 
AP - The euro rebounded from a 10-month low on Friday but European stocks dropped, as markets gave a cautious welcome to the eurozone's bailout program for Greece, which would extend loans only as a last resort and involve the International Monetary Fund.
Stocks, bonds improve in relieved Greece
 
AP - Shares on the Athens Stock Exchange have jumped higher and bond rates eased in Greece amid relief in the debt-plagued country over a cash support package by other countries that use the euro currency.
RadioShack evaluating strategic options: report
 
Reuters - U.S. electronics retailer RadioShack Corp is exploring strategic alternatives that include a share buyback or a possible sale of the company that could net more than $3 billion, the New York Post said, citing sources close to the situation.
Hypo Real Estate narrows losses in 2009
 
AP - Nationalized German lender Hypo Real Estate Holding AG says it narrowed its net loss to some euro2.24 billion ($2.98 billion) last year.
Volkswagen shares higher amid cap increase
 
AP - Volkswagen's shares rose Friday after the German automaker set the price for an issue of 65 million new shares aimed at raising some euro4.1 billion ($5.5 billion).
Britain?s Times Newspapers to Charge for Web Access
 
The Times and The Sunday Times newspapers will begin charging for Internet access to content in June.
Heathrow opponents win challenge
 
Campaigners win a High Court battle for further consultation into plans for a third runway at Heathrow Airport.
FSA bans commission sales in 2012
 
The Financial Services Authority will ban financial advisers from receiving commission payments for selling financial policies.
C&W split takes the FTSE to 101
 
Cable & Wireless's demerger into two separate businesses means there is an extra firm in the FTSE 100.
Siemens sees industrial demand stabilizing
 
AP - Siemens AG says it expects demand for products from its industrial division to stabilize this year after the economic downturn hit spending on big-ticket items.
Interest rates must stay near zero, Bernanke says
 
AP - Record-low interest rates are still needed to rev up the economic recovery, Federal Reserve Chairman Ben Bernanke told Congress on Thursday.
Comeback of the Year: Behind Genworth's 700% Rebound
 
BusinessWeek - A year ago, few companies were having as tough a time as Genworth Financial . Like other life insurers, it had seen its investments decimated by market turmoil. There 'was a fear that a lot of these companies weren't solvent,' says Standard & Poor's equity analyst Bret Howlett. 'Genworth was at the top of that list.' But Genworth had another problem, as one of the only providers of both life and mortgage insurance. Its U.S. mortgage business was seeing big losses as homeowners defaulted on their loans amid the worst housing market. ...
China makes its case for a steady yuan
 
Reuters - China reaffirmed its determination on Friday to keep the yuan steady, rejecting U.S. arguments that a stronger exchange rate is needed to help iron out global trade imbalances.
Is a Short Sale Right for You?
 
BusinessWeek - Home prices have dropped as much as 50% in some parts of the country, and many readers in those areas keep asking what they can do to stop the bleeding? In my last article, I described various strategies available to lower your monthly mortgage payments. But what options do you have if you are so far underwater that refinancing is not feasible and you are desperate to get out from under? The short answer is the short sale. What is a short sale? It is when you sell your home (including sales commissions and other closing costs) for less than you owe on the mortgage. ...
Oil pivots around $81 as euro reacts to Greek plan
 
Reuters - Oil tried to sustain forays above $81 with Brent briefly jumping over $1 as confidence over a deal to help debt-ridden Greece was tempered by worries the global recovery could still falter and keep crude demand weak.
Three Top B-Schools Look for New Deans
 
BusinessWeek - (Corrects date of Snyder's departure and clarifies that the school's 150% endowment growth under Snyder does not include a $300 million gift from alumnus David Booth.)
Growth in Fourth Quarter Revised Slightly Lower
 
In the latest revision, the economy grew at a 5.6 percent pace, slightly less than the previous estimate.
Rio Tinto Executive Admits to Taking Two Bribes
 
The mining company executive accepted about $1 million from Chinese steel mills, his lawyer said.
Wall Street Opens Higher on Greek Bailout Plan
 
Reaction was mixed because the bailout program rules out any immediate loans to Greece and exposes problems in Europe?s economic union.
Murdoch Finalizes Paywall for Two British Papers
 
The Times and The Sunday Times of London will sell daily and weekly subscriptions to users of a combined Web site starting in June.
Toyota Slows Production in Britain and France as Sales Lag
 
With its European sales down sharply, Toyota will stop making cars for short periods at plants in France and Britain.
FSA bans commission sales
 
The Financial Services Authority will ban financial advisers from receiving commission for selling financial policies from 2012.
BA: '75% will fly despite strike'
 
BA says it will fly more than three quarters of passengers during the next strike by cabin crew, due to begin at midnight.
Stocks rise after Greece gets aid package
 
AP - Stocks rose Friday morning after European leaders agreed to a bailout program for debt-burdened Greece.
Eurozone leaders: Greece plan to stabilize euro
 
AP - European leaders on Friday said their hard-won deal to rescue debt-ridden Greece after months of bitter wrangling will help calm jittery markets and stabilize the euro. But market reaction was cautious and experts warned the crisis had already dented the eurozone's credibility.
Fiat CEO Marchionne says Fiat committed to Italy
 
AP - Fiat CEO Sergio Marchionne on Friday strongly defended Italy's largest employer against criticism that it was abandoning its Italian roots through its alliances with Chrysler and other foreign partners.
World trade to grow 9.5% in 2010: WTO chief
 
AFP - World trade is expected to grow 9.5 percent in 2010, after suffering its biggest collapse since World War II in 2009, the head of the World Trade Organisation Pascal Lamy said on Friday.
RadioShack up on report of company mulling sale
 
Reuters - RadioShack Corp is exploring alternatives including a share buyback or a possible sale of the company that could net more than $3 billion, the New York Post said, citing sources close to the situation.
US AG brings more money to fight AZ mortgage fraud
 
AP - U.S. Attorney General Eric Holder delivered more resources to fight mortgage fraud in Arizona and across the nation Thursday, saying $8 million will be used to beef up investigation teams this spring.
GM to add workers, boost output at Canadian plants
 
AP - General Motors Co. will bring back 600 laid-off auto workers and add equipment at two Canadian factories in an effort make more midsize crossover vehicles that have been selling well in both the U.S. and Canada.
Administration Moves to Assist Struggling Homeowners
 
The Obama administration on Friday announced broad initiatives to provide more assistance to homeowners who are behind on their mortgage or owe more than their house is worth.
G.D.P. Growth in Fourth Quarter Revised Slightly Lower
 
In the latest revision, the economy grew at a 5.6 percent pace, slightly less than the previous estimate.
Wall Street Pushes Higher on Greek Bailout Plan
 
Reaction was mixed because the bailout program rules out any immediate loans to Greece and exposes problems in Europe?s economic union.
Patient Money: How Doctors Would Cut Health Care Costs
 
Is it possible to contain medical costs without compromising quality? Some physicians have a few suggestions.
Chrysler Says Up to 86 Dealers Can Seek Reinstatement
 
The notifications came as nearly 400 former dealers prepared to fight Chrysler?s decisions through arbitration.
British Airways Braces for Second Strike
 
The airline?s crew said they would resume their walkout for another four days beginning Saturday, which would result in a quarter of the flight being canceled.
Heading Off the Next Financial Crisis
 
The case for more ? and more nuanced ? regulation.
Chemicals firm gets bribery fine
 
The UK arm of a US chemicals firm is fined $12.7m (£8.5m) after admitting bribing government officials in Indonesia.
Merkel hails deal to help Greece
 
Germany's chancellor praises a deal to help debt-laden Greece, which appears to have strengthened the euro.
Canada fund wins UK lottery firm
 
Camelot, the owner of the National Lottery, has been sold to a Canadian teachers' pension fund for £389m.
Red Knights delay Man Utd offer
 
The Red Knights consortium says it will not make a bid for Manchester United before the end of the season.
World trade to recover, says WTO
 
After the sharpest decline in more than 70 years, world trade is set to rebound, according to economists at the World Trade Organization.
Employment tribunals strengthened
 
People who win awards against their former employers at Employment Tribunals can now use High Court enforcement officers to get the money they have been awarded.
Stocks rise after Greece gets promise of aid
 
AP - Stocks rose Friday after European leaders agreed to a bailout program for debt-burdened Greece.
Officials: Greece backstop should stabilize euro
 
AP - European leaders on Friday said their hard-won deal to rescue debt-ridden Greece after months of bitter wrangling will help calm jittery markets and stabilize the euro.
Germany, Switzerland reach tax agreement
 
AP - Germany and Switzerland said Friday that they have reached a preliminary agreement to exchange information on suspected tax cheats — a key step toward defusing a long-festering irritant in relations.
Chrysler to let 50 dealers rejoin sales network
 
AP - If your local Chrysler dealer was forced out of business by the company last year, it could soon be selling new cars again.
Britons trust Labour over opposition on economy: poll
 
Reuters - Britain's opposition Conservatives, whose overall opinion poll lead has narrowed in the run-up to an election, have fallen behind the ruling Labour Party on the key issue of economic trust, a poll found on Friday.
WTO: World trade to see 9.5 pct growth in 2010
 
AP - The World Trade Organization said Friday that it expected 9.5 percent growth in merchandise trade this year, a strong recovery from the steepest commercial contraction since the Great Depression.
Drivers catch a break as gas prices hold steady
 
AP - Motorists filling up for weekend driving caught a small break at the pump Friday, as average retail gasoline prices held steady at the same level as a week ago.
Ship Sinking in South Korea Disrupts Markets
 
Shares started to trim their gains amid reports that a South Korean navy ship had sunk in waters near disputed maritime border with North Korea.
Rebound in World Trade Is Seen
 
Led by growth in China and India, global trade is projected to expand by 9.5 percent this year, after shrinking by 12.2 percent last year, the World Trade Organization said.
Stocks give up early gains for 2nd straight day
 
AP - Stocks gave up an early advance for a second day Friday after investors found little to extend the market's climb.
AutoNation's Jackson made almost $5.2M in 2009
 
AP - The Associated Press says AutoNation CEO Mike Jackson made $5.2 million last year, about twice as much as the previous year as the auto retailer posted a profit amid the worst U.S. auto sales market in decades.
Fitch cuts SunTrust ratings on credit concerns
 
AP - Fitch Ratings on Friday downgraded certain ratings of SunTrust Banks Inc. because of continued concerns about the mortgages, home equity loans and commercial real estate loans in its portfolio.
End of Home-Buyer Programs May Delay Housing Recovery
 
Time.com - Big federal programs to help the housing market are soon to end, and a rush of foreclosures may be about to begin. The bottom line, analysts say, is a sideways movement for sales and prices, with a risk that things could get worse
Phony products win Energy Star label
 
AP - Fifteen phony products — including a gasoline-powered alarm clock — won the Energy Star label in a test of the program's vulnerability to fraud.
GM Canada to hire 600 workers
 
AFP - The Canadian division of General Motors announced Friday it would recall and hire more than 600 workers to boost production of its 'hot-selling' Chevrolet Equinox and GMC Terrain.
Europeans Vow New Effort to Bring Economies Closer
 
The European Union?s plans for greater economic coordination will need to overcome practical obstacles and ideological differences.
Wealth Matters: Tax Credits and Changes for 2010
 
The big tax issue may be retirement account conversion and estate taxes, but there are some other changes and credits that can affect the tax bill for 2010.
G.D.P. Growth Revised Down for 4th Quarter
 
In the latest revision, the economy grew at a 5.6 percent pace, slightly less than the previous estimate.
Stock Traders Grow Cautious as Week Nears an End
 
Analysts said the quick surrender of the early advances is a sign that stocks have risen too fast.
Shortcuts: Clutter and How to Get Rid of It
 
Grandma?s hutch? A souvenir from Mexico? Take a photo of them, give them away and think twice before buying or accepting items you?ll hardly ever use.
City trader denies insider deals
 
A hedge fund trader arrested this week as part of an FSA probe into insider dealing pledges to clear his name.
Talks due over rail strike threat
 
Talks between both sides in the threatened national railway strike will begin on Monday, the conciliation service Acas says.
Fiat CEO: Chrysler stake to 35 percent in 2 years
 
AP - Fiat CEO Sergio Marchionne said Friday the Italian automaker would increase its stake in Chrysler to 35 percent within two years.
3M sees 1Q charge of $85M-$90M for health reform
 
AP - 3M Co., which makes a myriad of products including Post-Its and Scotch Tape, expects to take a one-time noncash charge of $85 million to $90 million due to changes in tax deductions relating to the newly enacted health care law.
Ex-French chairman acquitted in trial over pay
 
AP - A French court on Friday acquitted the former head of one of the world's biggest construction companies on charges that the multimillion-euro golden parachute the executive received amounted to misappropriation of funds.
Euro zone leaders: Greece plan to stabilize euro
 
AP - A hard-won deal to provide a safety net for Greece provided the debt-ridden country with some welcome relief Friday, with its cost of borrowing on international markets edging down slightly and labor unions at home saying they would hold off on any further strikes — at least for now.
Phony products impress federal energy program
 
AP - Fifteen phony products — including a gasoline-powered alarm clock — won a label from the government certifying them as energy efficient in a test of the federal 'Energy Star' program.
Your Money: Health Savings Accounts Survive Medical Overhaul
 
Health Savings Accounts provide a nice tax break, but investors first have to hurdle the restrictions.
Rio Tinto Official Admits Bribe-Taking, Lawyer Says
 
The mining company executive accepted about $1 million from Chinese steel mills, his lawyer said.
For a Second Day, Wall Street Ends Mixed
 
Analysts said the quick surrender of the early advances is a sign that stocks have risen too fast.
W.T.O. Sees Trade Rebounding in 2010
 
Led by growth in China and India, global trade is projected to expand by 9.5 percent this year, after shrinking by 12.2 percent last year, the World Trade Organization said.
State Jobless Rates Stabilized in February
 
Sixteen states said their jobless rate was unchanged in February, seven reported declines and 27 reported increases.
Take two: Gov't tries new fix for mortgage crisis
 
AP - The government's bold new plan to stem the foreclosure crisis aims to succeed where previous efforts have fallen flat. Yet just as before, the odds are long, and many struggling borrowers won't qualify.
Iceland's premier pressing IMF on bailout review
 
AP - Iceland's prime minister said Friday she was pressing the International Monetary Fund to hasten a review to determine the next batch of bailout funding for the nation's struggling economy.
Kansas Senate Democrats to offer tax plan
 
AP - Kansas Senate Democrats said Friday they will roll out a tax proposal next week that will include raising the income tax to help balance the state budget.
Mixed Finish for Stocks
 
Analysts said the quick surrender of the early advances is a sign that stocks have risen too fast.
AT&T Plans $1 Billion Charge for Health Care
 
AT&T said the charge reflected changes to how Medicare subsidies were taxed because of the new health care law.
BA's second strike gets under way
 
Flights are cancelled as a second BA cabin crew strike starts - but the airline expect less disruption compared to last weekend.
A Bold U.S. Plan to Help Struggling Homeowners
 
The Obama administration on Friday announced broad initiatives to provide more assistance to homeowners who are behind on their mortgage or owe more than their house is worth.
F.D.A. Says Millions Got Unapproved Nitroglycerin
 
About 80 percent of prescriptions for the heart drug are being filled with unapproved and unvetted tablets, the Food and Drug Administration said.
Talent Agents for Video Game Creators
 
With the $46 billion worldwide market in upheaval, agents are increasingly useful for finding people to complete complex titles, structuring deals or obtaining financing.
F.D.A. Strives to Purge Unapproved Medicines
 
The F.D.A. is working its way through a decades-old backlog of unapproved drugs.
Chet Simmons, ESPN?s First President, Dies at 81
 
Before ESPN, Mr. Simmons was an NBC executive; after ESPN, he became the first commissioner of the United States Football League.
Business Briefing | Retail: Shoe Sales Help Finish Line Top Profit Forecasts
 
The Finish Line, an athletic and leisure apparel retailer, said it earned $30.6 million, or 55 cents a share, in its fourth quarter.
Business Briefing | Finance: Abu Dhabi Executive Missing After Glider Crash
 
The managing director of the Abu Dhabi Investment Authority is missing after a glider crash in Morocco, the state news agency WAM said on Friday.
Business Briefing | Retail: Sales Fall at American Apparel
 
American Apparel said sales at its existing stores fell in the fourth quarter and will fall further this year.
Business Briefing | Automobiles: Toyota Cuts Production in Europe After Sales Sl
 
Toyota Motor said on Friday that it would idle three plants in France and Britain to reduce inventory amid recent recalls and a slump in European sales.
Student loan company: Data on 3.3M people stolen
 
AP - A company that guarantees federal student loans said Friday that personal data on about 3.3 million people nationwide has been stolen from its headquarters in Minnesota.
Seoul?s Mayor Campaigns for Green Transit
 
The mayor of Seoul, Oh Se-hoon, is seeking to build defining legacy for his mayoralty, and has sought to improve his city?s environment.
British Airways Cabin Crews Set to Resume Strike
 
Unite, which represents cabin crew members, said they would walk out for four days this weekend after a three-day strike that ended Tuesday.
Regulators Shut Four Banks
 
The number of bank failures so far this year stands at 41.
Donald P. Kelly, 88, a Master of Leveraged Buyouts, Dies
 
After helping engineer the leveraged buyout of the Beatrice Companies in 1987, Mr. Kelly became its chairman and presided over the lucrative sale of its assets.

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