Wall Street and Main

Oil Spill Crime? Send In the BP Squad

By PETER J. HENNING — Thu, 29 Jul 2010 15:15:55 +0000

White Collar Crime examines how federal investigators of the Gulf of Mexico oil spill are looking at a broad array of possible crimes, including false statements to the government, securities fraud and potential corruption of federal officials.

BP pushes on with asset sales in Asia, Latin America

Reuters: Money News — Thu, 29 Jul 2010 15:12:36 +0000

LONDON/HONG KONG (Reuters) - BP Plc pushed ahead with plans to sell assets in Vietnam, Colombia and Venezuela, as it scrambles to hive off $30 billion of assets to pay to clean up the worst oil spill in U.S. history.

Fight Gears Up on Biomass

By MATTHEW L. WALD — Thu, 29 Jul 2010 15:00:39 +0000

Trotting out experts in medicine and forestry to argue that biomass generation could endanger human health.

Playstation, LCD TVs power Sony to $294 million profit

USAToday — Thu, 29 Jul 2010 14:42:39 +0000

Sony bounced back to profit last quarter and raised its full-year earnings forecast, fueled by stronger demand for its PlayStation 3 gaming consoles, ...

Nintendo slumps to loss as game sales fade

USAToday — Thu, 29 Jul 2010 14:40:11 +0000

Nintendo, maker of the Wii home console and DS handheld, slumped into the red last quarter as sales faded amid a strong yen and a lack of new ...

BP spill cases head to court as Shell counts cost

Reuters: Money News — Thu, 29 Jul 2010 14:27:20 +0000

LONDON/WILMINGTON, Del. (Reuters) - The tide of lawsuits unleashed by BP's oil spill in the Gulf of Mexico breaks into an Idaho courtroom on Thursday, just as the company's rivals are counting the cost of a ban on offshore drilling.

Costs for recall hit Kellogg 2Q, cuts outlook

USAToday — Thu, 29 Jul 2010 14:24:22 +0000

Fallout from a massive cereal recall helped drag down Kellogg Co's second-quarter net income 15% and led the cereal maker to cut its full-year ...

New Toyota Recall Involves About 400,000 Vehicles

By CHRISTOPHER JENSEN — Thu, 29 Jul 2010 14:24:12 +0000

Among the Toyota recalls are 373,000 2000-4 Avalon models for a steering problem that could cause a crash, and 39,000 2003-7 Lexus LX 470 S.U.V.'s for a steering defect.

Long bond yield hits 1-month high

Business and financial news - CNNMoney.com — Thu, 29 Jul 2010 14:19:08 +0000

Longer-dated treasury prices turned lower Thursday, with the 30-year yield spiking to a one-month high, as investors took in a better-than-expected report on jobless claims and prepared an auction of government debt later in the day.

ExxonMobil’s 2Q earnings more than double

USAToday — Thu, 29 Jul 2010 14:16:57 +0000

ExxonMobil said Thursday its second quarter income nearly doubled to $7.56 billion as oil prices increased from last year.

Microsoft’s shot at redemption

Business and financial news - CNNMoney.com — Thu, 29 Jul 2010 14:15:03 +0000

It's a pretty good time to be Microsoft -- but the company still has a lot to prove.

Holding Out for Health-Care Services

Barron's This Week Magazine — Thu, 29 Jul 2010 14:11:19 +0000

Lazard Capital says that despite selloffs near-term catalysts are elusive.

The Daily Start-Up: VCs Debate Board Seat Overload – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 14:10:29 +0000

The Daily Start-Up: VCs Debate Board Seat Overload
Wall Street Journal (blog)
Venture capitalists might be uncertain about the US, but they still seem bullish on China. US-based venture firm New Enterprise ...

Britain’s trade mission to India: the diary of an anonymous delegate

DailyTelegraph — Thu, 29 Jul 2010 14:05:47 +0000

The welcome we have been given here in India has been amazing. Garlands, gifts and good wishes galore.

New Workplace Pumping Protections in Health Care Law – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 14:04:17 +0000

New Workplace Pumping Protections in Health Care Law
Wall Street Journal (blog)
AP I want to flag Juggle readers to a small provision buried in the new health-care reform law that should be a boon for many new ...

Pitino Extortion Trial Turns Predictably Ugly – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 14:04:03 +0000

Pitino Extortion Trial Turns Predictably Ugly
Wall Street Journal (blog)
With all the drama surrounding college football in the past few days — the now-infamous Memorial Day party in South Beach rocking the SEC, ...

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Wall St opens higher after jobless claims

Reuters: Money News — Thu, 29 Jul 2010 14:03:09 +0000

NEW YORK (Reuters) - Wall Street rose at the open on Thursday on strong earnings from companies including Exxon Mobil and after a drop in weekly jobless claims offered hope for the anemic labour market recovery.

Amazon.com unveils a $139 wireless-only Kindle

Reuters — Thu, 29 Jul 2010 14:02:34 +0000

Amazon.com launched a cheaper, wireless-only Kindle on Wednesday, betting that the $139 price will turn its latest electronic reader into a mass-appeal device as Apple Inc's iPad gains ground.

US Bancorp To Receive 9.5% Stake In Nuveen In Asset Swap – Wall Street Journal

WSJ — Thu, 29 Jul 2010 14:01:37 +0000

US Bancorp To Receive 9.5% Stake In Nuveen In Asset Swap
Wall Street Journal
US Bancorp (USB) on Thursday said it would receive a 9.5% stake in Chicago firm Nuveen Investments Inc. (JNC) in exchange for the bank's long-term ...

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India mobile handset 2010 sales to rise 19 pct – Gartner

Reuters: Money News — Thu, 29 Jul 2010 14:00:36 +0000

MUMBAI (Reuters) - Sale of mobile handsets in India, the world's fastest growing wireless market, should rise by 18.5 percent this year on increasing telecoms penetration in Asia's third-largest economy, research firm Gartner said on Thursday.

Divorce ruling outlaws secretly obtained documents

Financial Times - UK Homepage — Thu, 29 Jul 2010 13:57:33 +0000

Estranged couples in “big money” divorce cases will no longer be able to use secretly obtained documents in divorce proceedings, the Court of Appeal has ruled

Oksana’s Smoking Gun in Brutality Allegation

TMZ.com — Thu, 29 Jul 2010 13:55:00 +0000

Filed under: Mel Gibson, Oksana Grigorieva, Celebrity Justice

Sources connected to Oksana Grigorieva tell TMZ that there are "third party witnesses" who will tell L.A. County Sheriff's investigators they saw Mel Gibson punch Oksana on January 6 during the blowout at her home. The sources say the witnesses have not… Read more

Southwest beats forecast with $112 million profit

USAToday — Thu, 29 Jul 2010 13:54:45 +0000

Southwest Airlines added an upbeat note to a strong quarter for the airline industry by reporting a $112 million profit for spring and early ...

Stocks gain on earnings

Business and financial news - CNNMoney.com — Thu, 29 Jul 2010 13:52:15 +0000

Stocks rallied early Thursday after Exxon Mobil and others reported better-than-expected quarterly earnings and a report showed a drop in weekly jobless claims.

‘So You Think You Can Dance’ Season 7, Episode 12 – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 13:50:24 +0000

'So You Think You Can Dance' Season 7, Episode 12
Wall Street Journal (blog)
Apparently producer Nigel Lythgoe kept his word and brought in outside help to aid in warmups after three straight weeks of dancers ...

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What Wealthy Women Want – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 13:48:39 +0000

What Wealthy Women Want
Wall Street Journal (blog)
Women constitute a rising share of the world's wealth and wealth-management decisions. So why are they often ignored by wealth-management ...

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Bearly Legal: Trader Greenwood Pleads to Fraud, Other Charges – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 13:48:17 +0000

Bearly Legal: Trader Greenwood Pleads to Fraud, Other Charges
Wall Street Journal (blog)
In a separate lawsuit filed last year, the SEC detailed how Greenwood and Walsh allegedly spent much of their money — buying horses, ...

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HDIL Apr-June net more than doubles on TDR revenues

Reuters: Money News — Thu, 29 Jul 2010 13:47:22 +0000

MUMBAI (Reuters) - Real estate services company Housing Development and Infrastructure Ltd's net profit more than doubled to 2.34 billion rupees in April-June, on gains from Transfer of Development Rights (TDR).

Drinking Alongside Paul McCartney – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 13:45:17 +0000

Drinking Alongside Paul McCartney
Wall Street Journal (blog)
This weekend we had house guests from California. We called Nick & Toni's, the insanely fashionable East Hampton restaurant, ...

Latin America: Investment potential

DailyTelegraph — Thu, 29 Jul 2010 13:44:09 +0000

Devan Kaloo, Head of the Global Emerging Markets team at Abderdeen, tells Robert Miller about the investment potential for the group's new Latin American Income Fund.

Initial jobless claims drop to 457,000

USAToday — Thu, 29 Jul 2010 13:39:41 +0000

New jobless claims fell last week for the third time in four weeks in the U.S. but remain elevated.

Stocks rise on strong global earnings

USAToday — Thu, 29 Jul 2010 13:36:03 +0000

Stocks rose Thursday after a new batch of upbeat earnings and a modest drop in jobless claims renewed some optimism about the economy.

Best Buy To Use Clearwire’s 4G Network For Mobile Service – Wall Street Journal

WSJ — Thu, 29 Jul 2010 13:32:25 +0000

Best Buy To Use Clearwire's 4G Network For Mobile Service
Wall Street Journal
Clearwire Corp. (CLWR) on Thursday said electronics retailer Best Buy Inc. (BBY) would use the company's 4G network to offer mobile Internet service to US ...

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Troy Aikman — I’m Doing ‘Dancing with the Stars’

TMZ.com — Thu, 29 Jul 2010 13:30:00 +0000

Filed under: Troy Aikman, Dancing with the Stars, TMZ Sports, TV

Following in the rhinestone capezios of his former Dallas Cowboys teammate Emmitt Smith -- legendary QB Troy Aikman told us last night that he's officially on board for the next season of " Dancing with the Stars ." Troy was leaving Red… Read more

Americans Cut Back On Visits To Doctor – Wall Street Journal

WSJ — Thu, 29 Jul 2010 13:24:22 +0000

Americans Cut Back On Visits To Doctor
Wall Street Journal
Insured Americans are using fewer medical services, raising questions about whether patients ...

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Chris Klein extends his 30-day stay in rehab

NY Daily News — Thu, 29 Jul 2010 13:20:48 +0000

After spending more than 30 days in a rehab treatment facility, actor Chris Klein has decided to prolong his stay.

Chinese approve Geely acquisition of Volvo

USAToday — Thu, 29 Jul 2010 13:17:36 +0000

Geely Holding Group has received final Chinese government approval to acquire Volvo Cars from Ford , the Commerce Ministry said Thursday.

Opening Bell 07.29.10

Dealbreaker — Thu, 29 Jul 2010 13:15:07 +0000

FSA To Expand Bonus Rules (WSJ) The U.K.’s financial regulator said on Thursday that it plans to change remuneration rules for the financial-services industry, which could include imposing the changes on all banks, asset managers and hedge funds. The FSA said that while the current rules apply to the largest banks, building societies and broker dealers,…

Will Skilling Soon Taste a Bit of Freedom? – Wall Street Journal (blog)

WSJ — Thu, 29 Jul 2010 13:07:48 +0000

Will Skilling Soon Taste a Bit of Freedom?
Wall Street Journal (blog)
The US Supreme Court's recent ruling on honest-services fraud led directly to Conrad Black's being released on bail last week. ...

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Citigroup Memo On North America Consumer Banking – Wall Street Journal

WSJ — Thu, 29 Jul 2010 13:07:29 +0000

Citigroup Memo On North America Consumer Banking
Wall Street Journal
As you know, I have spent the last few months evaluating and reviewing our North American Consumer Banking business. Having done so, it is clear to me that ...

Bank of Baroda to maintain 25 pct profit growth in FY11

Reuters: Money News — Thu, 29 Jul 2010 13:05:15 +0000

MUMBAI (Reuters) - State-run lender Bank of Baroda expects to maintain 25 percent growth in profit in FY11, and may raise 20 billion rupees in additional capital to achieve this, officials said on Thursday.

Motorola Co-CEO Jha: Sees Mobile Devices Sales Growth In 3Q – Wall Street Journal

WSJ — Thu, 29 Jul 2010 13:01:56 +0000

Motorola Co-CEO Jha: Sees Mobile Devices Sales Growth In 3Q
Wall Street Journal
NEW YORK (Dow Jones)--Motorola Inc. (MOT) Co-Chief Executive Sanjay Jha said he expects sales growth to return in the ...

Goldman Ends Oaths in Electronic Missives

NY Observer — Thu, 29 Jul 2010 13:00:23 +0000

When Senator Carl Levin asked Goldman CFO David Viniar if he thought the deals he was peddling were — as described in an email — "shitty," Mr. Viniar responded diplomatically. "I think that's very unfortunate to have on email," he said.

Today, he can breathe a bit easier. The Wall Street Journal reports that Goldman Sachs has instituted a strict ban on swearing across all electronic communications. Emails, instant messages and even texts from...

Warm words, trade challenge ahead as UK woos India

Reuters: Money News — Thu, 29 Jul 2010 12:59:23 +0000

NEW DELHI (Reuters) - India welcomed a pledge by Britain on Thursday to end "complacency" towards its former colony and forge a special relationship, which ministers said would translate in coming years into economic benefits for both.

Toyota recalling Toyota Avalon for steering problems

USAToday — Thu, 29 Jul 2010 12:50:00 +0000

Toyota says it's conducting another recall, this time for 373,000 2000 to 2004 Toyota Avalons due to a problem that could result in the steering ...

Nagarjuna Fertilizers net up on better gas usage

Reuters: Money News — Thu, 29 Jul 2010 12:48:04 +0000

MUMBAI (Reuters) - Urea and plant nutrients maker Nagarjuna Fertilizers and Chemicals' quarterly net profit jumped 17.5 percent on improved availability and usage of natural gas.

Weekly Jobless Claims in U.S. Decline

By REUTERS — Thu, 29 Jul 2010 12:46:56 +0000

The unemployment filings fell slightly more than expected last week, offering some hope for the anemic labor market recovery.

Arnold Schwarzegger shows his ‘Terminator’ motorcycle

USAToday — Thu, 29 Jul 2010 12:46:00 +0000

When California Gov. Arnold Schwarzenegger toured the Ronald Reagan Presidential Library and Museum yesterday, he couldn't help himself. He had ...

Comeback Heralded for Japan Giants in Electronics

By HIROKO TABUCHI — Thu, 29 Jul 2010 12:43:20 +0000

A rebound in the global economy and solid growth in emerging markets, coupled with aggressive cost-cutting and restructuring drives, have started to raise their bottom lines.

Jobless claims slide in latest week

Business and financial news - CNNMoney.com — Thu, 29 Jul 2010 12:39:35 +0000

The number of Americans filing for initial unemployment insurance fell last week, the government said Thursday.