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Nov 2, 2011

BLOOMBERG News, Nov 02, 2011


RIM's Stock Falls Below Book Value
Bloomberg
A man sits in front of signage for Research In Motion Ltd.'s BlackBerry smartphone at a mobile phone store. Photographer: Adeel Halim/Bloomberg Research In Motion Ltd. (RIM)'s stock fell below its book value for the first time in nine years, ...
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Bloomberg
Old Navy's Chief Says Holiday 'Doldrums' May Persist This Year
BusinessWeek
2 (Bloomberg) -- Gap Inc.'s Old Navy chain is preparing for a “volatile and negative” atmosphere this holiday shopping season as consumers remain reluctant to spend, Tom Wyatt, the brand's president, said in an interview. “We're still struggling with ...
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Teva Third-Quarter Profit Falls on Fewer New U.S. Generic Drugs
Bloomberg
An employee collects newly-manufactured pills from a machine at the tablet production plant at Teva Pharmaceutical Industries Ltd.'sheadquarters in Jerusalem, Israel. Photographer: Adam Reynolds/Bloomberg Nov. 2 (Bloomberg) -- Bloomberg's Elliott ...
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Bloomberg
G-20 Doesn't Support EU Transaction Tax, U.K.'s Osborne Says
San Francisco Chronicle
2 (Bloomberg) -- Global finance ministers don't support a proposed European Union tax on financial transactions, UK Chancellor of the Exchequer George Osborne told banks in a letter addressing their concerns over the levy. Osborne said it was clear ...
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Groupon Would-Be Investors Say Amazon Parallels Don't Fly: Tech
San Francisco Chronicle
2 (Bloomberg) -- Groupon Inc.'s argument that it's like e-commerce leader Amazon.com Inc. is meeting with skepticism among investors. Amazon was better suited at the time of its 1997 initial public offering to withstand competition than Groupon is on ...
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European Stocks Rise Before Fed Meeting; Randgold, Next Advance
Bloomberg
Fed officials are probably engineering a further round of large-scale asset purchases, while they are unlikely to announce a decision today, according to economists in a Bloomberg survey. Sixty-nine percent said Chairman Ben S. Bernanke will embark on ...
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Bloomberg
Nomura May Cut Japan Jobs as 'Nothing Is Sacred' After $590 Million Loss
Bloomberg
The firm has accumulated net losses of about 491 billion yen since it added 8000 employees from Lehman Brothers Holdings Inc.'s Asian and European businesses in 2008, according to data compiled byBloomberg. Photographer: Kiyoshi Ota/Bloomberg The ...
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Bloomberg
Michigan Surpassing 48 States Shows Autos Drive US
BusinessWeek
2 (Bloomberg) -- Michigan's economy is recovering from the recession at the second-fastest pace in the US, lifted by reviving carmakers and local manufacturers, according to a new Bloomberg index that tracks the pace of state growth. ...
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Lack of MF Global Controls Exposed by Missing Money
Bloomberg
(Source: Bloomberg) MF Global Holdings Ltd. (MF)'s bankruptcy, the eighth-largest in US history, is exposing a lack of internal controls that may have prevented a last-minute rescue of Jon Corzine's futures broker. The day it filed for Chapter 11 ...
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Bloomberg
Sony Forecasts Full-Year Loss on Yen, Waning Sales of TVs, Cameras in U.S.
Bloomberg
2 (Bloomberg) -- Ben Collett, head of Japan equities at Louis Capital Markets HK Ltd., discusses Sony Corp.'s unexpected fiscal second-quarter loss reported today and full-year forecast. Collett, speaking from Hong Kong with Linzie Janis and Owen ...
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Bloomberg
KKR Hires RPM's Farley, Rockecharlie to Grow Energy Business
BusinessWeek
1 (Bloomberg) -- KKR & Co. hired energy-industry bankers Claire Scobee Farley and David Rockecharlie as the New York-based private-equity firm expands its oil and gas investments. Farley, former co-president of Jefferies & Co.'s energy ...
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Indian Equity Movers: Divi's, Indo Thai, Punjab National Bank
BusinessWeek
2 (Bloomberg) -- Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of 10:14 am local time. The BSE India Sensitive Index, or Sensex, shed 0.1 percent to 17462.59. ...
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Stocks Rebound, Commodities Rise
Bloomberg
2 (Bloomberg) -- Mohammed Apabhai, head of Asia trading strategy at Citigroup Inc., talks about Europe's sovereign debt crisis and its implications for global financial markets. Apabhai also discusses MF Global Holdings Ltd.'s bankruptcy. ...
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Bloomberg
Housing Rebound May Hinge on Access to Refinancing
BusinessWeek
1 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke can't go it alone when it comes to reviving the US housing market. Fed policy makers, who started a two-day meeting today, are considering buying mortgage-backed securities to push down ...
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Cheung Kong, Lenovo, Mazda, Sony, UOB: Asia Stocks Preview
BusinessWeek
That missed the average estimate of S$596.1 million by seven analysts in aBloomberg survey. The shares gained 1.8 percent to S$16.70. --With assistance from Jonathan Burgos in Singapore, Kana Nishizawa and Nick Gentle in Hong Kong and Ameya Karve in ...
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Chrysler October Total Group U.S. Sales Rise 27%, Missing Estimate of 28%
Bloomberg
Photographer: Jeff Kowalsky/Bloomberg Toyota Motor Corp.'s Lexus LF-Gh concept car sits on display in New York, US Toyota reported sales of 134046 Toyota, Lexus and Scion vehicles last month, a drop from 145474 a year earlier. Toyota Motor Corp. ...
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Bloomberg
Sinopec Said in Talks to Buy Stake in Galp's Brazilian Unit
BusinessWeek
2 (Bloomberg) -- China Petrochemical Corp., which paid $7.1 billion for Repsol YPF SA's Brazilian unit, is in talks to buy a stake in Galp Energia SGPS SA's division in Latin America's second-biggest oil producer, according to people with knowledge of ...
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Vestas Cuts Revenue Forecast 8.6% on Delays at Turbine Factory
San Francisco Chronicle
Oct. 31 (Bloomberg) -- Vestas Wind Systems A/S, the biggest maker of wind turbines, cut its forecasts for margins and revenue this year after delays in expanding production at its new plant in Travemuende, Germany. The manufacturer expects revenue of ...
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Fed Seen Laying Ground for More Large-Scale Asset Purchases
San Francisco Chronicle
... while they are unlikely to announce a decision today, according to economists in aBloomberg News survey. Sixty-nine percent of those surveyed say Chairman Ben S. Bernanke will embark on a third round of quantitative easing, or QE3, ...
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AOL, Becton, Leapfrog Enterprises, Phoenix: U.S. Equity Movers
San Francisco Chronicle
2 (Bloomberg) -- Shares of the following companies are having unusual moves in US trading. Stock symbols are in parentheses and prices are as of 11 am in New York. Phone stocks gained after the US House voted to bar new state and local taxes on ...
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U.S.'s Aaa Rating Not Dependent on Committee, Moody's Says
San Francisco Chronicle
1 (Bloomberg) -- A failure by a congressional supercommittee to reach agreement on deficit reduction wouldn't on its own cause the US to lose its top credit ranking, Moody's Investors Service said. While the failure "would be more negative," the lack ...
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Goldman Sachs's Kennedy to Retire as Scherr, Chisholm Fill Roles
BusinessWeek
2 (Bloomberg) -- Goldman Sachs Group Inc.'s Kevin W. Kennedy, a member of the company's management committee and head of the Latin America group, is retiring at year-end. He will step down after 37 years at the New York-based firm, the last 10 as a...
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U.S. Stock-Index Futures Drop on China Manufacturing Data, Europe Concern
Bloomberg
1 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the US equity market today. US stocks dropped, driving the Standard & Poor's 500 Index to the biggest two-day slump in a month, on concern that a referendum pledged by Greek ...
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Bloomberg
Mercedes-Benz Surpasses BMW in US Luxury Auto Sales in October
BusinessWeek
2 (Bloomberg) -- Daimler AG's Mercedes-Benz sold more luxury cars than Bayerische Motoren Werke AG in the US last month, bolstered by a new sporty C-Class model. Mercedes-Benz's US deliveries jumped 23 percent to 22637, while the BMW brand's sales rose ...
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Coach buys chunk of first Hudson Yards tower
Real Estate Weekly
By Linda O'Flanagan Coach will buy a 600000 s/f chunk of the first Hudson Yards tower to be built. Mayor Michael Bloomberg announced that upscale handbag maker Coach will be the first major commercial tenant to take space at the planned Hudson Yards ...
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Real Estate Weekly
MLB, Los Angeles Dodgers Agree to Sell Team in Court-Supervised Process
Bloomberg
By Dex McLuskey - Wed Nov 02 09:40:04 GMT 2011 April 28 (Bloomberg) -- Los Angeles Dodgers owner Frank McCourt discusses Major League Baseball's decision to take over the team's operations and delay a long-term TV deal with News Corp.'s Fox Sports. ...
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Bloomberg
Telkonet, Inc.'s Business Highlighted in Bloomberg's Market Spotlight Platform
Sacramento Bee
OB), developer of revolutionary energy management technology is pleased to announced that its CEO & President, Jason Tienor, will be a featured presenter within this month's Bloomberg Markets Spotlight Virtual Platform. Mr. Tienor's presentation will ...
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US Stocks Rebound, Commodities Rise as Dollar Slips Before Fed
BusinessWeek
Sixty-nine percent of economists surveyed by Bloomberg say Fed Chairman Ben S. Bernanke will start a third round of quantitative easing, or QE3, with 36 percent predicting the move in the first quarter of next year, according to a poll of 42 economists...
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Michigan Treasurer Calls for Mandatory Contribution for 401(K)s
BusinessWeek
2 (Bloomberg) -- Michigan Treasurer Andy Dillon said the state should have mandatory employee contributions to the 401(k) retirement plan. The average employee holding in Michigan is about $100000, Dillon said today at the State and Municipal Finance ...
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DBS Profit Unexpectedly Gains 6% as Lending Growth Offsets Margin Squeeze
Bloomberg
Net income rose to S$762 million ($596 million) for the three months ended Sept. 30, the Singapore-based lender said in a statement to the stock exchange today. That beat the S$682 million average of five analysts' estimates compiled by Bloomberg. ...
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Viterra's Largest Investor Rejects 'Vague' Plans for Board
BusinessWeek
1 (Bloomberg) -- Viterra Inc.'s largest shareholder rejected the Canadian grain handler's “vague” plans for the election of its directors and said management isn't prepared to make meaningful changes to the board. “The process announced by Viterra will ...
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Schlosstein Says Europe Needs Detailed Plan for Crisis (Video)
Bloomberg
Schlosstein, speaking with Betty Liu on Bloomberg Television's "In the Loop," also discusses MF Global Holding Ltd.'s filing for bankruptcy protection. (Source: Bloomberg) Ralph Schlosstein, president and chief executive officer of Evercore Partners ...
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Bloomberg
DirecTV Reaches Agreement With News Corp.'s Fox to ... - Bloomberg
DirecTV, the largest U.S. satellite- TV service, reached a new programming agreement with News Corp.'s Fox providing continued access to FX and 26 other ...
www.bloomberg.com/.../directv-reaches-agreement-with-news...
News Corp.'s Hinton Says Previous Hacking Account Was Wrong ...
s British papers, during the period when its reporters intercepted mobile ... BloombergLP, the parent of Bloomberg News, competes with News Corp. units in ...
www.businessweek.com/.../news-corp-s-hinton-says-previous-...
Tesla's Musk Says Model S Sold Out; Should Turn Profit in 2013
(Source: Bloomberg) Tesla Motors Inc. (TSLA), a US maker of electric cars, is sold out of next year's production of its new Model S sedan and should earn a ...
www.bloomberg.com/.../tesla-s-musk-says-model-s-sold-out-s...
Confidence Rises in Sign US Will Keep Recovery Intact
Consumer confidence unexpectedly rose in October from the previous month, indicating the biggest part of the economy will help keep the U.S. recovery intact.
www.bloomberg.com/.../u-s-october-michigan-consumer-senti...
Dailymotion - McCormick Questions News Corp.'s Board Makeup - a ...
Oct. 21 (Bloomberg) -- Robert McCormick, chief policy officer at Glass Lewis & Co ., talks about News Corp.'s annual shareholder meeting today, and the need for ...
www.dailymotion.com/.../xlv4kk_mccormick-questions-news-...
McCormick Questions News Corp.'s Board Makeup - YouTube
Oct. 21 (Bloomberg) -- Robert McCormick, chief policy officer at Glass Lewis & Co ., talks about News Corp.'s annual shareholder meeting today, and the need for ...
www.youtube.com/watch?v=grLFVK7S8S0
McCormick Questions News Corp.'s Board Makeup
Oct. 21 (Bloomberg) -- Robert McCormick, chief policy officer at Glass Lewis & Co ., talks about News Corp.'s annual shareholder meeting today, and the need for ...
finance.yahoo.com/.../mccormick-questions-news-corp-s-boar...
HTC hurt by Sprint iPhone - KansasCity.com
s Galaxy and Apple Inc.'s iPhone crimp demand. ... A survey by Bloomberg News of six analysts had a median shipment estimate of 13.5 million units.
www.kansascity.com/2011/10/.../htc-hurt-by-sprint-iphone.ht...
Bloomberg news News - Ultra Social
Erik Larson / Bloomberg:News Corp.to Pay $4.8M Hack Settlement — News Corp . NWSA)'s U.K.unit agreed to pay 3 million pounds ($4.8 million) to settle ...
www.ultrasocial.co.uk/topic/bloomberg_news
N.Y.'s Mayor Bloomberg dedicates MDA Jerusalem station | JTA ...
New York Mayor Michael Bloomberg dedicated the landmark Magen David Adom station in Jerusalem in memory of his father.
www.jta.org/.../nyc-mayor-dedicates-mda-jerusalem-station
Telkonet, Inc.'s Business Highlighted in Bloomberg's ... - PR Newswire
Telkonet, Inc.'s Business Highlighted in Bloomberg's Market Spotlight Platform. ... PR Newswire: news distribution, targeting and monitoring ...
www.prnewswire.com/.../telkonet-incs-business-highlighted-in...
Bloomberg News looks at the claim that Obama has hurt economy with ...
[www.bloomberg.com] QuotePresident Barack Obama's “tsun. ... reached the annual peak set in fiscal 1992 under Bush's father, according to government data reviewed byBloomberg News. ... Last edit at 10/26/2011 10:51PM by Dennis S. ...
forums.macresource.com/read.php?2,1251341
Fox Sports Said to Consider Dodgers Bid- Bloomberg
News Corp. (NWSA)'s Fox Sports may participate in an auction for the bankrupt L.A. Dodgers, a person familiar with the company's thinking said. Fox will ...
mobile.bloomberg.com/.../news-corp-s-fox-sports-said-to-cons...
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