- Ballmer Turns to 14-Year-Old Son to Be Sure Windows 7 Isn't the Next Vista Microsoft Corp. Chief Executive Officer Steve Ballmer says the company got the wrong impression from early positive feedback on Vista and won’t make the same mistake with the software’s successor, Windows 7.
- Buffett Calls Purchase of Hog-Products Firm CTB `Lucky Day' for Berkshire Warren Buffett, who as chief executive officer of Berkshire Hathaway Inc. has overseen more than $50 billion in acquisitions, said the 2002 purchase of farm-products provider CTB Inc. was “a lucky day.”
- Wall Street Cedes to Toronto's Bay Street as Canadian Banks `Play Offense' Henry Michaels spent 25 years as an investment banker with New York-based firms such as Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Citigroup Inc.
- Harding Pleads Guilty to Taking $800,000 in New York State Pension Scheme Raymond Harding, the former chairman of New York’s Liberal Party charged with participating in a kickback scheme at the state pension fund, pleaded guilty to fraud in state court in Manhattan.
- Burned Bondholders Demand Movie, Bowling Alley Claims for Junk Financing Companies are selling more bonds secured by assets than ever, showing that even in a record year for corporate debt, investors are becoming more demanding.
- California Tries to Save Municipal Bond Market by Itself: Chart of the Day For one day, it was like old times in the municipal market. Can lightning strike twice?
- Russian Steel Writedowns Loom After Price Collapse Wrecks Global Ambitions Russian steelmakers’ plans for world domination are in tatters. A spending spree on U.S. mills meant to lift their billionaire owners into the industry’s top rank is instead forcing them to renegotiate debt and write down assets.
- China Minsheng Said to Seek Controlling Stake in California Lender UCBH China Minsheng Banking Corp. is weighing a plan to increase its stake in UCBH Holdings Inc. in what may be the first U.S. bank acquisition by a mainland Chinese firm, according to two people briefed on the matter.
- Japan Banks May Avoid Bad Loans Under Debt Moratorium as Kamei Eases Rules Japanese banks’ bad loans won’t be driven higher by a proposed moratorium on debt payments by struggling small companies, said Financial Services Minister Shizuka Kamei.
- Fed Should Be Forced to Release Names of Banks, Bloomberg Says in Lawsuit The Federal Reserve should be forced to identify companies that received loans from the central bank because it can’t demonstrate that borrowers would be harmed by the disclosure, according to lawyers who won a Freedom of Information Act lawsuit.
- Merrill Bringing Down Lewis Gives Bank of America 30% Profits as `a Steal' Merrill Lynch & Co., which helped bring down Kenneth D. Lewis, may end up saving his bank.
- Unemployment Rising to 9.8% Means More Economic Pain as Consumption Falls Mohamed El-Erian says economists are wrong to dismiss unemployment as merely a lagging indicator, a sign of where the economy has been. For the chief executive officer of Pacific Investment Management Co., the 26-year high jobless rate is also an omen of things to come.The climb in the September rate to 9.8 percent, double the level at the start of last year, leaves the U.S. saddled with about 15 million people out of work and with limited prospects. That will further hurt the housing.
Bloomberg Daily News 7th October 2009
No comments:
Post a Comment