Wednesday, October 21, 2009

10/22 Yahoo! News: Business

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Chinese growth quickens in Q3, as expected (Reuters)
October 21, 2009 at 10:37 pm

Reuters - China's economic growth picked up as expected last quarter as a potent cocktail of breakneck investment and buoyant bank lending more than made up for a slump in exports, the government said on Thursday.

Galleon surrenders ship even as its funds surge (Reuters)
October 21, 2009 at 7:52 pm

Reuters - The Galleon Group, caught up in the largest-ever hedge fund insider-trading scandal, is liquidating its funds even as investors enjoy one of the firm's best years.

EBay holiday outlook disappoints, shares down (Reuters)
October 21, 2009 at 6:07 pm

A photograph of a computer screen showing the website eBay is shown here in Encinitas, California April 22, 2009. REUTERS/Mike BlakeReuters - EBay Inc forecast results for the current quarter at the low end of Wall Street estimates, disappointing hopes of a substantial turnaround for the holidays and pushing shares down 5 percent.



Czar poised to slash cash pay at seven firms (Reuters)
October 21, 2009 at 4:29 pm

Reuters - The Obama administration plans to order that top earners at firms that received billions of dollars in government bailouts will see cash payouts cut by an average of about 90 percent from last year, a source familiar with the matter said on Wednesday.

Fed says economy perked up from depressed levels (Reuters)
October 21, 2009 at 3:11 pm

U.S. Chairman of the Federal Reserve Ben Bernanke listens to questions after making remarks about a year of economic turmoil at the Brookings Institution in Washington September 15, 2009. REUTERS/Jim YoungReuters - U.S. economic conditions stabilized or improved modestly in most parts of the country, according to a Federal Reserve report on Wednesday that suggested the economy was slowly clawing out of a recession.



Madoff shared prison cell with drug dealer (Reuters)
October 21, 2009 at 1:00 pm

Reuters - Epic swindler Bernard Madoff shared a prison cell with a 21-year-old drug dealer, and other fellow inmates included a spy and a mob boss when he was sent to prison in July, according to court documents.

Galleon winding down hedge funds (Reuters)
October 21, 2009 at 12:51 pm

Galleon hedge fund partner Raj Rajaratnam is escorted by FBI agents after being taken into custody in New York October 16, 2009. REUTERS/Brendan McDermidReuters - Hedge fund firm Galleon Group said it is winding down its funds, less than a week after its founder was arrested and charged with running one of the biggest insider-trading schemes ever involving a hedge fund.



Ohio House speeds tax-cut delay; Senate to slow it (AP)
October 21, 2009 at 12:43 pm

AP - The Ohio House is moving quickly toward approving a delay in planned income tax reductions, but the Senate plans to slow it down, study alternatives and possibly propose something else to fill a budget hole.

Protect Yourself From the Next Investment Scam (The Motley Fool)
October 21, 2009 at 12:30 pm

The Motley Fool - There are a lot of shady people hoping that you're after instant riches -- or at least a boost toward making up for your recent stock market losses. Boy, do they have the sales pitch down pat. There are tax scams, penny-stock huckster scams, instant-messaging scams, Nigerian confidence scams, mortgage-servicing scams, wrong-number pump-and-dump scams, bad-roommate-from-Craigslist scams. I could go on, but my keyboard is out of breath.

FTSE 100 rallies (AFP)
October 21, 2009 at 12:06 pm

London's stock exchange rallied after losses earlier in the week, lifted by solid results from the US banking sector as Morgan Stanley reported a return to profit.(AFP/File/Shaun Curry)AFP - London's stock exchange rallied on Wednesday after losses earlier in the week, lifted by solid results from the US banking sector as Morgan Stanley reported a return to profit.



SEC proposes changes for 'dark pools' (AP)
October 21, 2009 at 12:03 pm

AP - Federal regulators are proposing tighter oversight for so-called "dark pools," trading systems that don't publicly provide price quotes and compete with major stock exchanges.

Boeing posts bigger-than-expected loss (Reuters)
October 21, 2009 at 9:50 am

A model of Boeing 747 passenger plane is displayed at the Asian Aerospace Expo in Hong Kong September 8, 2009. REUTERS/Bobby YipReuters - Boeing Co on Wednesday posted a larger-than-expected quarterly loss on a cost reclassification related to its long-delayed 787 Dreamliner program, sending shares lower.



US lender Wells Fargo profit jumps $3.2 bln (AFP)
October 21, 2009 at 9:25 am

Wells Fargo said its third quarter earnings rose to a record 3.2 billion dollars, as the banking giant managed to profit from mortgages and consumer credit despite a weak economy.(AFP/File/Karen Bleier)AFP - Wells Fargo said Wednesday its third quarter earnings rose to a record 3.2 billion dollars, as the banking giant managed to profit from mortgages and consumer credit despite a weak economy.



Wells, U.S. Bancorp get big boost from mortgages (Reuters)
October 21, 2009 at 9:15 am

A U.S. flag flies above Wells Fargo & Co headquarters in San Francisco, California, April 22, 2009. REUTERS/Robert GalbraithReuters - Wells Fargo & Co and U.S. Bancorp posted earnings that trounced Wall Street expectations, helped by outsized revenue from underwriting mortgages, but it is not clear how long that bonanza will last.



Morgan Stanley profit ends losing streak (Reuters)
October 21, 2009 at 9:01 am

A street sign stands near the Morgan Stanley worldwide headquarters building in New York May 8, 2009. REUTERS/Lucas JacksonReuters - Morgan Stanley reported better-than-expected third-quarter profit Wednesday, ending a string of three straight losing quarters.



Wells Fargo profit jumps (Reuters)
October 21, 2009 at 8:17 am

A U.S. flag flies above Wells Fargo & Co headquarters in San Francisco, California, April 22, 2009. REUTERS/Robert GalbraithReuters - Wells Fargo & Co said shareholder profit rose 60 percent in the third quarter as mortgage banking revenue surged.



China's Volvo bid may stall over intellectual property (Reuters)
October 21, 2009 at 5:42 am

A new Volvo model car, S60, is displayed at the Shanghai International Auto show April 20, 2009. REUTERS/ Aly SongReuters - Geely Holding's attempt to buy Ford Motor Co's Volvo car unit is in danger of stalling over disagreements about intellectual property rights, a source close to the talks said on Wednesday.



Stock futures dip; raft of earnings eyed (Reuters)
October 21, 2009 at 5:23 am

A trader works on the floor of the New York Stock Exchange, October 14, 2009. REUTERS/Brendan McDermidReuters - U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.24 percent, Dow Jones futures down 0.1 percent and Nasdaq 100 futures down 0.34 percent.



Geely talks to buy Ford's Volvo unit stall: source (Reuters)
October 21, 2009 at 4:22 am

Reuters - Geely Holding's discussions to acquire Volvo from Ford Motor Co have stalled over disagreements on intellectual property, a source close to the talks said on Wednesday.

Dell sees Windows 7 boost starting mid 2010 (Reuters)
October 21, 2009 at 4:15 am

Reuters - Demand for computers from large companies is likely to pick up by as soon as mid-2010 as a result of Microsoft's launch this week of its Windows 7 operating system, a senior Dell executive said on Wednesday.

London stocks rise at open (AFP)
October 21, 2009 at 3:27 am

Shares in London were firm at the start of trade as the corporate sector announced encouraging quarterly figures.(AFP/File/Shaun Curry)AFP - Shares in London were firm at the start of trade on Wednesday as the corporate sector announced encouraging quarterly figures.



Fed's Yellen: No tightening in next several months (Reuters)
October 21, 2009 at 2:00 am

Reuters - The time for the U.S. Federal Reserve to start pulling back its extensive support for the economy is not close at hand and policymakers have time to decide what sequence of steps they will take, San Francisco Fed President Janet Yellen said on Tuesday.

Asia markets fall after weak US housing figures (AP)
October 21, 2009 at 1:26 am

Specialist Damen Watson, right, directs trading at his post on the floor of the New York Stock Exchange Tuesday, Oct. 20, 2009. (AP Photo/Richard Drew)AP - Asian stock markets faltered Wednesday as weak U.S. housing starts tempered optimism about better-than-expected corporate earnings.



Profit taking halts Asia stocks rally, techs lag (Reuters)
October 21, 2009 at 12:43 am

Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange October 16, 2009. REUTERS/Remote/Michael LeckelReuters - Profit taking in the technology sector weighed on Asian stocks on Wednesday, though they stuck close to a 15-month high, while some stability in the U.S. dollar and a rise in inventories pushed oil below $79 a barrel.



Yahoo triples profit, beats expectations (Reuters)
October 20, 2009 at 9:40 pm

The headquarters of Yahoo Inc. is pictured in Sunnyvale, California, May 5, 2008 REUTERS/Robert GalbraithReuters - Yahoo Inc beat Wall Street's profit and sales expectations as spending by advertisers showed signs of life in the third quarter and as months of cost-cutting and restructuring boosted the Internet company's bottom line.



Housing, price data points to sluggish recovery (Reuters)
October 20, 2009 at 8:36 pm

A worker constructs a new home in Geneva, Illinois, June 23, 2009. REUTERS/Jeff HaynesReuters - Softer-than-expected U.S. housing starts last month and a drop in prices paid at the farm and factory gate pointed to an anemic economic recovery, backing views that interest rates could stay low for a while.


 

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