Hollingsworth Daily News

• Caving to Congress Creeps Into Market Perceptions Looking for Obama's Veto President Barack Obama may be heading for a clash with the bond vigilantes who plagued Bill Clinton, the last Democratic president.


• Greek Tax-Dodgers Threaten Papandreou Plan to Cut EU's Highest Budget Gap Apostolis Rigas took his Opel sedan for a 220-euro ($354) service at a repair shop in northern Athens. When he asked for a receipt, the price jumped to 260 euros as his mechanic would have to declare the income and pay tax.


• Birthday Bouquet for Kim Jong Il May Signal North Korean Succession Ploy North Korea celebrated Kim Jong Il’s birthday today with tens of thousands of flowers. The most intriguing blossom is a new variety of begonia sent on his son’s birthday that may signify preparations for a succession.


• GM Saving $10.7 Billion Means Cash for Trucks, Whitacre's 2010 Profit Goal General Motors Co. said it has slashed $10.7 billion from annual costs, freeing up money for marketing and vehicle upgrades while boosting Chief Executive Officer Ed Whitacre’s push for a 2010 profit.


• Rand to Weaken as World Cup Boost Is Undercut by Interest Rates Pressure Just as half a million people head to South Africa for the Fifa World Cup, which Bank of America- Merrill Lynch says will add $1.1 billion to the economy, traders are betting the rand will weaken more than any major currency.


• European Union Finance Chiefs to Resist Obama's Plans for Banking Overhaul European Union finance ministers are uniting to oppose President Barack Obama’s proposal to limit banks’ size and risk-taking, saying his plan may run counter to EU policy, according to a draft document.


• `Something's Brewing' on China Yuan Increase, Goldman Sachs's O'Neill Says Goldman Sachs Group Inc. Chief Economist Jim O’Neill said China may be poised to let its currency strengthen as much as 5 percent to slow the world’s fastest growing major economy.


• Shipping Costs Rise 32% in Survey as 55 Boats Wait for Coal From Newcastle The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 31 percent jump in charter rates by December.


• Samsung to Challenge Apple's IPad With Tablet Computer, Mobile Chief Says Samsung Electronics Co., the world’s second-largest mobile-phone maker, plans to offer a tablet computer to ride the wave of demand it expects for Apple Inc.’s iPad.


• Weber Clear Frontrunner to Succeed Trichet as ECB President, Survey Shows Germany’s Axel Weber leads the race to succeed Jean-Claude Trichet as president of the European Central Bank after Portugal’s Vitor Constancio was nominated for the deputy’s job.


• Investor Stephen Jarislowsky `Convinced' That Canada Has a Housing Bubble Stephen Jarislowsky, chairman of Montreal-based investment adviser Jarislowsky Fraser Ltd., said he is “convinced” there’s a bubble in Canada’s housing market, fueled by government measures that encouraged consumers to take on debt.


• Buffett's Newest CEO Rejoices at Farewell to Analysts, Hedge-Fund Managers Matthew Rose, chief executive officer of railroad Burlington Northern Santa Fe Corp., welcomed Warren Buffett as his company’s new owner while showing analysts and hedge-fund managers the door.


• Regulators Hired by Toyota Helped Halt U.S. Safety Probes, Documents Show At least four U.S. investigations into unintended acceleration by Toyota Motor Corp. vehicles were ended with the help of former regulators hired by the automaker, warding off possible recalls, court and government records show.

• Bloomberg Daily News 16th February 2010