11/17 DailyFinance

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. DailyFinance Google eats more Web search share as Bing also rings up gains, Yahoo falters November 16, 2009 at 9:00 pm Filed under: Technology, Google , Microsoft, Yahoo Internet titan Google (GOOG) increased its Web search market-share again in October, while No. 2 Yahoo (YHOO) lost share at a "scary" pace, in the words of one analyst. Bing, Microsoft's (MSFT) new service and the No. 3 player, also registered gains, reported ComScore, an Internet metrics company. Overall, Google's web search share climbed to 65.4% last month, up from 64.9% in September. Microsoft rose to 9.9% from 9.4%, while Yahoo fell to 18% from 18.8%. October saw the fifth consecutive share increase for Microsoft. But Google's share increased to the highest level Comcast has ever registered for the company. "Tonight's data was positive for Google and Microsoft, and scary for Yahoo," Broadpoint AMTech internet analyst Ben Schachter said in a note to clients. Continue reading Google eats more Web search share as Bing also rings up gains, Yahoo falters Google eats more Web search share as Bing also rings up gains, Yahoo falters originally appeared on DailyFinance on Mon, 16 Nov 2009 21:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Facebook, aiming for global domination, is gaining quickly in Asia November 16, 2009 at 6:15 pm Filed under: Technology, Media, Google , Facebook Can Facebook CEO Mark Zuckerberg create the first truly dominant global social network? It's a big ambition, but it's looking less implausible all the time. Previously, social networks were strong in one region primarily or in several, but never globally. Friendster couldn't catch on in Europe or South America. MySpace was much weaker in Asia than in the U.S. Facebook, however, is well on its way to establishing dominance in several parts of the world. Already very strong in North America and Europe, Zuckerberg (pictured) looks set to take Asia, too. Continue reading Facebook, aiming for global domination, is gaining quickly in Asia Facebook, aiming for global domination, is gaining quickly in Asia originally appeared on DailyFinance on Mon, 16 Nov 2009 18:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Kohl's solid quarter makes shares look compelling November 16, 2009 at 5:50 pm Filed under: Investing, Stock Picks Kohl's (KSS) is managing the downturn in consumer spending with remarkable alacrity. The mid-price department store chain posted a 21% gain in third-quarter net income last week thanks to strong sales. As is usual to see this earnings season, cost cuts helped boost the bottom line, but the retailer also benefited from its expansion of exclusive brands. Kohl's' has a history of getting that value-versus-style proposition just right -- something that bodes well for the stock as frugal consumers become increasingly careful with their discretionary dollars. Indeed, the company appears to be eating some of its competitors' lunches. Continue reading Kohl's solid quarter makes shares look compelling Kohl's solid quarter makes shares look compelling originally appeared on DailyFinance on Mon, 16 Nov 2009 17:50:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Is the market topping out? Technical and fundamental headwinds say yes November 16, 2009 at 5:30 pm Filed under: Economy, Investing Numerous analysts have questioned the foundations of the current stock market rally, but the sagging economy hasn't stopped the rally from chugging into its ninth month. On Monday, the market charged out of the gate and held on to a three-digit gain all day. Though the rally has ground down all who have dared bet against it, there are technical and fundamental reasons to suspect the rally is topping out -- not in a few months, but in a matter of days or weeks. Continue reading Is the market topping out? Technical and fundamental headwinds say yes Is the market topping out? Technical and fundamental headwinds say yes originally appeared on DailyFinance on Mon, 16 Nov 2009 17:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Actually, yes: The Yankees certainly did buy the World Series November 16, 2009 at 5:10 pm Filed under: Media I grew up in Milwaukee, the smallest city with its own Major League Baseball team. During my summer vacations from high school and college, I worked as a vendor at Milwaukee County Stadium, where the Brewers played before it was torn down and replaced by Miller Park. Not once during that time did the Brewers make the playoffs. In fact, starting in 1982, they went 26 years without a post-season appearance. Finally, last year, the Brewers sneaked in as a wildcard team, largely on the strength of C.C. Sabathia's superhuman pitching. Then the season ended, Sabathia (pictured) signed with the Yankees, and the Brewers, who couldn't come close to matching the Yankees' seven-year, $160 million offer, resumed playing their usual sub-.500 ball. Continue reading Actually, yes: The Yankees certainly did buy the World Series Actually, yes: The Yankees certainly did buy the World Series originally appeared on DailyFinance on Mon, 16 Nov 2009 17:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments GlaxoSmithKline signs smoking vaccine licensing agreement with Nabi November 16, 2009 at 4:50 pm Filed under: Company News, GlaxoSmithKline Not two months after the Swiss start-up Cytos's experimental anti-smoking vaccine failed in a mid-stage study, Nabi Biopharmaceuticals (NABI) and GlaxoSmithKline (GSK) have signed a licensing agreement for Nabi's own anti-smoking vaccine, NicVAX. The deal, which could potentially be worth more than half a billion dollars, helped push NABI shares 25% higher. NicVAX is an experimental therapy for the treatment of nicotine addiction and the prevention of smoking relapse. The vaccine is designed to stimulate the immune system to produce antibodies that bind to the nicotine molecules. Once bound together, they are too large to cross the blood-brain barrier. In this way, the nicotine is blocked from reaching the receptors in the brain that cause the highly-addictive pleasure sensation experienced by smokers and users of nicotine products. When nicotine is prevented from supplying them the sensation they crave, smokers have an easier time kicking the habit. Continue reading GlaxoSmithKline signs smoking vaccine licensing agreement with Nabi GlaxoSmithKline signs smoking vaccine licensing agreement with Nabi originally appeared on DailyFinance on Mon, 16 Nov 2009 16:50:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Market rallies to start week with triple-digit gain November 16, 2009 at 4:30 pm Filed under: Economy Stronger than expected retail sales propelled the Dow Jones Industrial Average ($INDU) to a triple-digit gain on Monday, maintaining both the market's upward momentum from last week and optimism about the economic recovery. By mid afternoon, major stock indexes rose more than 1%, with the Dow Jones industrial average jumping 155 points to hit a new 13-month high, and the Standard & Poor's 500 index breaking through the 1,100 mark, to 1,110. At the closing bell things had settled down a bit, with the Dow up 136.49 points, or 1.33%, to 10,406.96. The broader S&P 500 ($INX) gained 15.82 points, or 1.45% to finish at 1,109.30, while the tech-heavy Nasdaq Composite ($COMPX) rose 29.97, or 1.38%, to 2,197.85. Continue reading Market rallies to start week with triple-digit gain Market rallies to start week with triple-digit gain originally appeared on DailyFinance on Mon, 16 Nov 2009 16:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments A rising market is putting new luster on luxury retailers November 16, 2009 at 4:00 pm Filed under: Economy, Investing, Earnings, Goldman Sachs , JC Penney, Nordstrom, Wal-Mart Stores, Tiffany & Co., Saks As unemployment soars and consumer credit dries up, some investors have braced for a "new frugality" with battered consumers cutting spending and looking for cheaper goods. But Wall Street is now betting that the fortunes of expensive luxury retailers may actually look much brighter than that of their more cost-conscious peers. On Monday, the Census Bureau reported October retail sales grew 1.4% -- including autos and restaurants. Against this backdrop comes Goldman Sachs's new, more bullish outlook for the luxury retail sector in particular. The firm upgraded expensive retailers Nordstrom (JWM), Coach (COH), Saks (SKS) and Tiffany (TIF). Continue reading A rising market is putting new luster on luxury retailers A rising market is putting new luster on luxury retailers originally appeared on DailyFinance on Mon, 16 Nov 2009 16:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Lowe's 3Q profits dropped 30%, but flooring and appliance sales rose November 16, 2009 at 3:20 pm Filed under: Company News, Economy, Earnings, Lowe's Companies, Inc Homeowners still aren't ready to go whole-hog on their bath and kitchen renovations, but they're taking on slightly larger projects than they were earlier this year, according to executives at Lowe's Cos. (LOW), which reported that its third-quarter profit met expectations. The nation's second-largest hardware chain posted net income of $344 million for the quarter, a drop of 29.5% from a year ago. Earnings per share were 23 cents for the quarter, or 24 cents after factoring out some accounting charges, which met Wall Street's expectations. Continue reading Lowe's 3Q profits dropped 30%, but flooring and appliance sales rose Lowe's 3Q profits dropped 30%, but flooring and appliance sales rose originally appeared on DailyFinance on Mon, 16 Nov 2009 15:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Bernanke between the lines: We're in for the mother of all jobless recoveries November 16, 2009 at 3:00 pm Filed under: Economy Given all the crazy, extraordinary stuff the Federal Reserve has been dragooned into doing in the last year ("quantitative easing," anyone?), it's easy to forget that it has only two, very simple mandates: price stability and full employment. Reading between the lines of Federal Reserve Chairman Ben Bernanke's speech Monday, it's clear the Fed will utterly fail on the second part of its directive for years to come. In other words, we're in for the mother of all jobless recoveries. Indeed, the best thing Bernanke could say about the unemployment situation is that it "may be getting worse more slowly." Continue reading Bernanke between the lines: We're in for the mother of all jobless recoveries Bernanke between the lines: We're in for the mother of all jobless recoveries originally appeared on DailyFinance on Mon, 16 Nov 2009 15:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Holiday Inn's ultimatum to shabby hotels: Renovate or the Holiday's over November 16, 2009 at 2:30 pm Filed under: Company News, Economy For Holiday Inn franchise owners, 2010 is starting to look a little bleak. At its annual meeting on Thursday, the chain's owner, Intercontinental Hotels Group (IHG), told its American franchisees that, recession or no, they need to renovate. At the very least, every outlet has to install new lighting and signs, renovate its lobby, and buy new pillows, towels, and bedclothes. For older hotels, the changes will be more extensive. Most of Holiday Inn's 3,300 hotels have already undergone these changes, but the owners of 300 have been dragging their feet. One large reason for their procrastination arises from the cost: The $150,000 to $250,000 renovations have to be financed by the individual outlets. In today's tight credit market, many franchisees are having a hard time raising the money. Continue reading Holiday Inn's ultimatum to shabby hotels: Renovate or the Holiday's over Holiday Inn's ultimatum to shabby hotels: Renovate or the Holiday's over originally appeared on DailyFinance on Mon, 16 Nov 2009 14:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Why investors mis-time markets -- and how you can avoid their mistake November 16, 2009 at 2:00 pm Filed under: Economy, Investing For millions of mutual fund investors, Dow 10,000 was an awkward milestone. In October alone, as markets crested following an eight-month run-up in stock prices, investors put the largest monthly amount into bond funds since 1984 -- a record $48.4 billion. Meanwhile they yanked $15.5 billion out of their domestic stock funds, according to California-based TrimTabs Investment Research, which tracks investment flows. So far this year, retail clients have poured a record $327.2 billion in new investments into bond funds. It's more than just profit-taking. "It's been a consistent investor response all year, and that's been 'stick as much money as you can into a bond fund,'" according to Charles Biderman, chief executive of TrimTabs. If history is any guide, they'll soon find they've made yet another investing mistake when bonds crater, as they will once the Federal Reserve begins hiking interest rates. Continue reading Why investors mis-time markets -- and how you can avoid their mistake Why investors mis-time markets -- and how you can avoid their mistake originally appeared on DailyFinance on Mon, 16 Nov 2009 14:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Newsweek, fighting for survival, drifts toward irrelevancy November 16, 2009 at 1:00 pm Filed under: Media About a year ago, media critic Michael Wolff predicted that Newsweek would go out of business "sometime around the fourth quarter of next year" -- i.e., right around now. That doesn't look like it's going to come true. But nor does it look as far off the mark as Newsweek's parent, the Washington Post Co. (WPO), might hope. Last week, the magazine laid off a dozen employees in its third round of staff downsizing in less than two years. But Newsweek is shrinking in other ways as well: Ad pages are down 29% year-over-year, while the circulation guarantee is slated to be reduced to 1.5 million in January, down more than 50% from its pre-2008 level. Continue reading Newsweek, fighting for survival, drifts toward irrelevancy Newsweek, fighting for survival, drifts toward irrelevancy originally appeared on DailyFinance on Mon, 16 Nov 2009 13:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments UCLA professor offers wild solution to bad bank behavior: Scare them straight November 16, 2009 at 12:30 pm Filed under: Economy, Investing A UCLA professor has come up with a wild idea to help prevent the next financial meltdown. He doesn't propose expensive regulations and mechanisms of enforcement on financial actors. Instead, he suggests that swift and decisive punishment of the biggest instigators of financial mayhem could scare the industry straight. Before getting into the details of his proposal, let me introduce the man and his new book, from which this idea springs. Professor Mark A.R. Kleiman heads UCLA's Drug Policy Analysis Program. Years ago, we shared an apartment while I was working at a summer job in Cambridge, Mass., and he was teaching at Harvard's Kennedy School of Government. Kleiman also runs a great blog -- The Reality Based Community. I contacted Kleiman a few weeks ago after seeing his new book, When Brute Force Fails, from Princeton University Press, in the window of the Harvard Book Store. Here are his email responses to my questions. Continue reading UCLA professor offers wild solution to bad bank behavior: Scare them straight UCLA professor offers wild solution to bad bank behavior: Scare them straight originally appeared on DailyFinance on Mon, 16 Nov 2009 12:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Hedge fund genius out-earns J.K. Rowling, Oprah and Tiger combined November 16, 2009 at 12:00 pm Filed under: Goldman Sachs , Citigroup The Paulson who's been most in the news over the last few years has been former Treasury Secretary Hank. But the Paulson who has made the most money during that time is a fellow you've probably never heard of -- another Harvard Business School graduate in the hedge fund industry -- John. Through his Paulson & Co., John Paulson pulled in a $4 billion pay check in 2007 -- that's more than J.K. Rowling, Oprah Winfrey and Tiger Woods combined. How did he pull it off? The Wall Street Journal reports that it was Paulson's share of Paulson & Co.'s $20 billion profit from betting on a drop in the subprime mortgage market. He spent $1 billion in 2006 to buy insurance on what he then saw as risky mortgage investments. This was not a surprise to everyone back then -- that December, I had suggested betting against subprime mortgage lender NovaStar Financial (NOVS), and its stock has since fallen more than 99% from $116 to $0.99. Continue reading Hedge fund genius out-earns J.K. Rowling, Oprah and Tiger combined Hedge fund genius out-earns J.K. Rowling, Oprah and Tiger combined originally appeared on DailyFinance on Mon, 16 Nov 2009 12:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments U.S. business inventories continue to fall November 16, 2009 at 11:30 am Filed under: Economy Still cautious, businesses continue to reduce excess inventory, as they cut costs and re-align their operations with consumer demand. Business inventories fell 0.4% in September -- the 13th consecutive monthly decline, the U.S. Commerce Department announced Monday. A Bloomberg News survey had expected inventories to decline 0.8% in September, after falling 1.5% in August, and losing 1.1% in July. Further, inventories have fallen 13.4% in the past year. In addition, business sales fell 0.3% after rising 1.0% in August. Sales are still down 13.1% in the past 12 months. Continue reading U.S. business inventories continue to fall U.S. business inventories continue to fall originally appeared on DailyFinance on Mon, 16 Nov 2009 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Believe that the weak dollar means strong stocks? If so, it's time to buy November 16, 2009 at 11:00 am Filed under: Investing Right now, about $360 billion is sitting in money market funds. But surely some of it must be looking at the 62% rise in the S&P 500 since the March 6 low and wondering whether it should go into stocks. Unfortunately, investors holding that cash have no easy answer: There doesn't appear to be any logical explanation for why stocks go up and down -- even though plenty of theories are advanced every day. One theory gaining credence these days says the weak dollar is pushing up stocks. If you think this theory has any credence, then you should invest in stocks for at least the next two years. Before getting into why this could make sense, remember that many theories get used to explain stock price movements. Continue reading Believe that the weak dollar means strong stocks? If so, it's time to buy Believe that the weak dollar means strong stocks? If so, it's time to buy originally appeared on DailyFinance on Mon, 16 Nov 2009 11:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments N.Y. factory index dips in November, but still indicates growth November 16, 2009 at 11:00 am Filed under: Economy A key manufacturing measure, the Empire State Manufacturing Index, declined about 11 points to 23.51 in November, but the reading still indicates that conditions are improving for manufacturers, the New York Federal Reserve announced Monday. Readings above zero indicate manufacturing activity is growing; below zero, contracting. Economists surveyed by Bloomberg News had expected the Empire State Manufacturing Index to fall to 29.0 in November from 34.57 in October. The index was last below zero in July, at -0.55%. Continue reading N.Y. factory index dips in November, but still indicates growth N.Y. factory index dips in November, but still indicates growth originally appeared on DailyFinance on Mon, 16 Nov 2009 11:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Retail sales creep up in October November 16, 2009 at 10:40 am Filed under: Economy, Wal-Mart Stores Retail sales keep creeping upward toward the holiday season. Numbers just released by the federal government show most retail segments had higher sales in October than September but, except for a few areas, sales are still lower than even the dismal totals seen in October of last year. Figures from the U.S. Census Bureau show total retail sales in October -- including autos and restaurants -- were $347.5 billion, up 1.4% from September, but still 1.7% below last October. For the year to date, only health and beauty stores and "food and drinking places" -- restaurants and bars -- had higher sales, while food stores were relatively flat. Health retailers were up 3%, eateries rose 1% and grocers went up 0.1%. Since consumer spending makes up 70% of the economy, this is not a good sign for recovery from the recession. Consumer confidence remains in the dumps, and experts warn that shoppers will stay stingy until that mindset improves. Continue reading Retail sales creep up in October Retail sales creep up in October originally appeared on DailyFinance on Mon, 16 Nov 2009 10:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Obama's leverage in China negotiations limited by massive U.S. debt November 16, 2009 at 10:00 am Filed under: Technology, Economy, Investing President Barack Obama will work hard to build trust with China during his trip there, but how far will he be able to go in seeking changes on the key issues -- currency, the trade surplus, North Korea, Iran, human rights and others -- when he's sitting down with his nation's largest creditor? China holds $800 billion in U.S. debt and gets $50 billion a year in interest. With that level of U.S. debt in its hands, China holds most of the cards. If China started dumping that debt, the value of the U.S. dollar would fall dramatically. China knows it's in the stronger position, as evidenced by its recent decision to ignore the IMF as it continues its stimulus programs. So no matter who was sitting at the table representing the U.S., they wouldn't have much ability to move the Chinese. Continue reading Obama's leverage in China negotiations limited by massive U.S. debt Obama's leverage in China negotiations limited by massive U.S. debt originally appeared on DailyFinance on Mon, 16 Nov 2009 10:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments Ikea's heart of darkness: A tale of racism, lies and Swedish meatballs November 16, 2009 at 9:30 am Filed under: Company News, People, Media Ikea looks like a model of openness and visibility. From its voluminous warehouse-size stores to its furniture's clean lines, the retailer presents a vision of honesty and total disclosure. Even founder and President Ingvar Kamprad (pictured) seems to be an open book: a simple farmer's boy from rural Sweden who overcame dyslexia and alcoholism to become one of the world's wealthiest men. Yet, even as he's risen to the top of the business world, he still has an old Klippan sofa and a Billy bookshelf in his living room, showing that he remains a humble, salt-of-the-earth type who hasn't forgotten his roots. Not according to Johan Stenebo. Kamprad's former personal assistant, Stenebo reveals in a new book published in Sweden that the budget-furnishings monolith seems to have quite a few sordid secrets. The Truth About Ikea has yet to be translated into English, yet it's already sent ripples through the media, as Ikea fans learn that all may not be sunshine and meatballs at their favorite cheap, simple, eco-friendly big-box home-furnishings store. Continue reading Ikea's heart of darkness: A tale of racism, lies and Swedish meatballs Ikea's heart of darkness: A tale of racism, lies and Swedish meatballs originally appeared on DailyFinance on Mon, 16 Nov 2009 09:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Stocks in the news: Lowe's, Cisco, General Electric November 16, 2009 at 9:00 am Filed under: Company News, Investing General Motors Co. reported a $1.2 billion loss Monday for the period since it left bankruptcy protection through Sept. 30, far better than previous quarters, and a sign that the auto giant is starting to turn around. GM also said it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December, and expects to repay the full amount by 2011. Lowe's (LOW) said Monday its third-quarter profit fell 30% to $344 million, or 23 cents per share, as revenue declined 3% to $11.38 billion and same-store sales fell 7.5%. Customers continued to delay large purchases amid a weak economy, but Lowe's said some of the hardest-hit home markets are stabilizing. Excluding items, profit was 24 cents per share, inline with estimates. Continue reading Stocks in the news: Lowe's, Cisco, General Electric Stocks in the news: Lowe's, Cisco, General Electric originally appeared on DailyFinance on Mon, 16 Nov 2009 09:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Bernanke to speak Monday. But what's the point of listening? November 16, 2009 at 9:00 am Filed under: Economy, Investing Federal Reserve Chairman Ben Bernanke is set to speak Monday at an Economic Club of New York luncheon. But don't expect him to say anything that will cause the attendees to gag on their frisee. As much as American savers and U.S. trading partners are freaking out about the Incredible Shrinking Dollar, Bernanke isn't going to do anything about it -- apart from talking out of both sides of his mouth. Morgan Stanley (MS) told clients Friday that the chairman's speech might be the "key in determining the path of the dollar into year-end," with any hawkish hints probably boosting the greenback for a little while. But apart from a mild short-term bump, the dollar has no place to go but down. And that's precisely what Bernanke wants. Continue reading Bernanke to speak Monday. But what's the point of listening? Bernanke to speak Monday. But what's the point of listening? originally appeared on DailyFinance on Mon, 16 Nov 2009 09:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Daily Blogwatch: Will peak gold theory take us to $2,500 level? November 16, 2009 at 8:30 am Filed under: Company News, Technology, Columns, Investing, Earnings, Media, One Year Later A persuasive argument that Barnes & Noble (BKS) could be an attractive buy. _________________ Large-cap stocks that could get short squeezed higher. _________________ Just like there's peak oil theory, could the world be dealing with peak gold theory? _________________ Continue reading Daily Blogwatch: Will peak gold theory take us to $2,500 level? Daily Blogwatch: Will peak gold theory take us to $2,500 level? originally appeared on DailyFinance on Mon, 16 Nov 2009 08:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Stocks ready for a strong start ahead of retail sales November 16, 2009 at 8:00 am Filed under: Economy, Investing U.S. stocks are poised for a strong start Monday morning. Global stock markets got a boost after Japan's economy grew at faster-than-expected pace. The economic plate is full this morning with retail sales and manufacturing data coming ahead of the opening bell and Federal Reserve Chairman Ben Bernanke speaking later in the day. GM's first earnings report is in focus this morning. More here: Before the bell: Futures higher ahead of retail sales Stocks ready for a strong start ahead of retail sales originally appeared on DailyFinance on Mon, 16 Nov 2009 08:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Chinese stocks soar as Obama visits Shanghai November 16, 2009 at 7:00 am Filed under: Economy, Investing In Asia Monday, China's Shanghai Composite Index added 2.7% to close at 3,275 and Hong Kong's Hang Seng Index rose 1.7%, ending the day at 9,791. In Japan, the Nikkei Index settled 0.2% higher to close at 9,791. President Obama's first official visit to China will address a wide range of topics from global warming to the economy, and will also underscore the enormous trade deficit -- while Americans' love affair with cheap Chinese goods has buoyed the Chinese economy, Chinese customers have little need for expensive, American-made products. And as their economy continues to develop, it seems the Chinese can fill their own needs quite handily. Continue reading Chinese stocks soar as Obama visits Shanghai Chinese stocks soar as Obama visits Shanghai originally appeared on DailyFinance on Mon, 16 Nov 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments General Motors expected to begin repaying U.S. aid by year's end November 16, 2009 at 6:32 am Filed under: Company News, General Motors General Motors Co. will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount by 2011, four years ahead of schedule, according to a person familiar with the matter. The government debt represents about 13 percent of the $52 billion that U.S. taxpayers have invested in General Motors, the majority of which was exchanged for a 61 percent ownership stake in the company. Continue reading General Motors expected to begin repaying U.S. aid by year's end General Motors expected to begin repaying U.S. aid by year's end originally appeared on DailyFinance on Mon, 16 Nov 2009 06:32:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments High crimes: 10 military towns are among the country's most dangerous November 16, 2009 at 6:00 am Filed under: Technology, People Military bases and the neighborhoods surrounding them often seem like the ultimate refuge of middle-American values. Run with military efficiency and discipline, the well-trimmed yards, cleanly-paved roads and orderly layouts convey an ideal image of life as it should be: safe, peaceful and friendly. However, as the horrific shootings in Fort Hood demonstrate, this perception of structure and normalcy may be deceptive. According to a study by NeighborhoodScout, which offers neighborhood-by-neighborhood crime analyses, some of America's military towns have crime levels that place them among the country's most dangerous neighborhoods. While the danger in these areas is much more heavily skewed toward property crimes like vandalism and theft than violent crimes like murder or rape, the statistics are startling. Continue reading High crimes: 10 military towns are among the country's most dangerous High crimes: 10 military towns are among the country's most dangerous originally appeared on DailyFinance on Mon, 16 Nov 2009 06:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments After two years, Japan's economy growing again November 16, 2009 at 5:00 am Filed under: Economy Japan's GDP rose at an annual rate of 4.8% in the quarter ending September 30th. Most analysts had forecast a figure below 3%. It is not entirely clear how much of the increase is due to government stimulus, and how much is due to "organic" activity including consumer spending and exports. Capital spending did rise 1.6%. Consumer activity was up a tiny 0.7% but most experts believe that this was due to incentive programs to get people to buy cars and appliances. The Japanese numbers, while good, point to the dilemma of the all the wealthy nations including the U.S., U.K., and many E.U. countries. GDP started to improve in the third quarter for most of these countries, but almost all of that activity was due to stimulus programs, which in turn have caused sovereign treasuries to take on hundreds of billions of dollars in new debt. Debt service is becoming a larger and larger part of most national budgets, and unless GDP growth rebounds quickly and dramatically, higher taxes will be the only way to dig these economies out of a hole. Continue reading After two years, Japan's economy growing again After two years, Japan's economy growing again originally appeared on DailyFinance on Mon, 16 Nov 2009 05:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Comcast's deal with GE for NBC Universal could come this week November 15, 2009 at 10:30 pm Filed under: Company News, Media, General Electric , Comcast Comcast, the nation's largest cable company, and General Electric, the giant industrial conglomerate, are finalizing an agreement that would create a new media titan anchored by NBC Universal. The deal would instantly remake the entertainment industry landscape. Negotiations are "moving in the right direction" but are not complete, sources close to the deal tell DailyFinance. Sunday was the first day of Vivendi's annual window -- from Nov. 15 to Dec. 10 each year -- to exercise its option to sell its 20% stake in NBC Universal. Teams of lawyers and bankers huddled over the weekend. An announcement isn't likely on Monday, but it could come by week's end, according to knowledgeable sources. However, it's clear that the bankers and lawyers will make the deal happen -- it's what they're paid to do -- and they're looking to do it soon. Continue reading Comcast's deal with GE for NBC Universal could come this week Comcast's deal with GE for NBC Universal could come this week originally appeared on DailyFinance on Sun, 15 Nov 2009 22:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments The Madoff auction take shows Bernie-mania is hardly waning November 15, 2009 at 10:10 pm Filed under: People There was some doubt headed into Saturday's auction of Bernard Madoff's belongings. Strong interest was anticipated, though many thought the public was tired of the Madoff saga. The asking prices for his (former) Manhattan and Palm Beach homes had just been cut by 10% and 7%, respectively. Presale estimates were kept to reasonable levels. Simply, everything was priced to move. When the gavel came down for the last time, though, expectations were shattered. The personal effects that once belonged to the architect of the world's largest Ponzi scheme fetched as much as 20 times the presale estimates. It looks like bidders will always shell out for even small pieces of sordid history. Continue reading The Madoff auction take shows Bernie-mania is hardly waning The Madoff auction take shows Bernie-mania is hardly waning originally appeared on DailyFinance on Sun, 15 Nov 2009 22:10:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments It's udderly silly: California's 'happy cow' ads will be filmed in New Zealand November 15, 2009 at 9:45 pm Filed under: Economy, Media The "happy cows" advertisements sponsored by the California Milk Advisory Board (CMAB) always have me wondering if the state's agriculture department isn't colluding with the tourism department (those ads where California's famous residents complain about how hard they're working, as they surf and be glamorous and, you know, play governor on TV). Cows are happier in California? I'm sure Vermont's cows would beg to differ! The New Zealand cows, soon, will have a say in the matter because the CMAB is bringing its production crews to Auckland, New Zealand, to shoot a new series of 10 commercials claiming that California cows are happier. That's right. New Zealand will stand in for California in a series of TV ads arguing that the Golden State's milk is superior. Continue reading It's udderly silly: California's 'happy cow' ads will be filmed in New Zealand It's udderly silly: California's 'happy cow' ads will be filmed in New Zealand originally appeared on DailyFinance on Sun, 15 Nov 2009 21:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.