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Aug 12, 2011

BUSINESS News, Aug 12, 2011

French finmin: we will meet GDP and deficit goals
Thu,11 Aug 2011 11:44 PM PDT
Reuters - PARIS (Reuters) - French Finance Minister Francois Baroin said on Friday the government's targets for growth and deficit reduction were not being altered after data showed growth ground to a halt in the second quarter of 2011. Full Story

photoPARIS/MADRID (Reuters)- A ban on short-selling financial stocks in four European countries including France takes effect on Friday, a coordinated attempt to restore confidence in markets hit by rumors and higher borrowing costs.

French economy stagnates in second quarter
Thu,11 Aug 2011 11:28 PM PDT
Reuters -
photoPARIS (Reuters) - French economic growth ground to a halt in the second quarter, raising pressure on the government to cut spending and abolish tax breaks to convince turbulent financial markets it will deliver on debt reduction targets.

China worried about EU, urges action on debt
Thu,11 Aug 2011 10:59 PM PDT
Reuters -
photoMANADO, Indonesia (Reuters) - China is worried about challenges that the Europe Union faces in the next two months and urged the bloc as well as the United States to hold down government debt, its trade minister said on Friday.

SEC investigating S&P's downgrade of U.S. debt: report
Thu,11 Aug 2011 10:40 PM PDT
Reuters -
photo(Reuters) - The U.S. Securities and Exchange Commission (SEC) has asked rating agency Standard & Poor's (S&P) to disclose which employees knew of its decision to downgrade U.S. debt before it was announced last week, the Financial Times said, citing people familiar with the matter.

HuffPo loses editor: Is culture clash to blame?
Thu,11 Aug 2011 09:35 PM PDT
Reuters - NEW YORK (TheWrap.com) - Is Huffington Post going to have a hard time holding onto its high-profile hires from traditional media outlets? Full Story

Analysis: As gold prices surge, cash-for-gold frenzy fades
Thu,11 Aug 2011 09:22 PM PDT
Reuters -
photoNEW YORK (Reuters) - Handing out flyers at the corner of 47th Street and Fifth Avenue in New York City's Diamond District, Mariabi Peenya is having trouble finding passersby eager to sell their gold jewelry for cash.

BofA chief meets top officials: report
Thu,11 Aug 2011 09:19 PM PDT
Reuters -
photo(Reuters) - Bank of America Chief Executive Brian Moynihan met privately this week with Treasury Secretary Timothy Geithner and Federal Reserve governor Daniel Tarullo amid the campaign to calm investors and employees about the bank's share price fall, the Wall Street Journal reported.

Warren Buffett buying in down market
Thu,11 Aug 2011 06:57 PM PDT
Reuters -
photoNEW YORK (Reuters) - Warren Buffett has been buying amid this week's sharp declines in the market, and has not yet seen anything that suggests another downturn is emerging, the legendary investor told Fortune magazine.

Factbox: Banks affected by Europe's short-selling ban
Thu,11 Aug 2011 04:56 PM PDT
Reuters - (Reuters) - Financial regulators in four European countries are banning short-selling in a group of banks and financial institutions in a bid to stem financial market turmoil.Full Story

Europe curbs short-selling as credit markets swoon
Thu,11 Aug 2011 04:56 PM PDT
Reuters -
photoPARIS/LONDON (Reuters) - European regulators will ban short-selling in four countries' financial stocks from Friday in a coordinated effort to restore confidence in a market hit by rumors, higher borrowing costs and a steep rise in emergency financing.

Nvidia's outlook beats Street, shares soar
Thu,11 Aug 2011 04:41 PM PDT
Reuters -
photoSAN FRANCISCO (Reuters) - Nvidia Corp forecast a larger-than-expected jump in quarterly revenue and its CEO said the chipmaker's mobile business was accelerating, sending its shares skyrocketing.

"The Help," "Final Destination 5" new entries in theaters
Thu,11 Aug 2011 04:04 PM PDT
Reuters -
photoLOS ANGELES (TheWrap.com) - The summer's not over, but the box office will look a little Fall-ish this weekend, with a Civil Rights-era drama, a horror-film sequel and several other niche titles hitting theaters.

Google+ social network gets games
Thu,11 Aug 2011 03:47 PM PDT
Reuters -
photoSAN FRANCISCO (Reuters) - People who use Google Inc's social network Google+ will be able to play games, a feature available on its biggest rival Facebook.

Spain stock market regulator bans short selling
Thu,11 Aug 2011 03:43 PM PDT
Reuters - MADRID (Reuters) - Spain's stock market regulator, the CNMV, said on Thursday it banned short selling on financial stocks for 15 days from August 11 and added it would extend the period if necessary. Full Story

 

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