- Lyondell Leaves Kalamazoo Poisoned as Bankruptcies Thwart Toxic Cleanups Environmentalist Jeff Spoelstra says an 80-mile stretch of the Kalamazoo River that runs through toxin-laced land in southwestern Michigan was on its way to becoming safe again. The area, once home to Potawatomi Indians and Dutch celery farmers, was finally on the verge of getting cleaned up.
- Turkey Overtaking Germany No Wishful Thinking With Economic Paradigm Shift Erda Gercek spent 20 years outside Turkey, identifying stock market winners as a fund manager at Citigroup Inc. and Legg Mason Inc. Now he has moved back to his homeland, saying it’s a buy.
- Corzine, New Jersey Officials Cut in Line to Get Springsteen, U2 Tickets Former New Jersey Governor Jon Corzine’s office got U2 and Bruce Springsteen seats the public couldn’t buy last year, at the same time the state was suing brokers over ticketing practices, according to documents showing 22 elected officials received special treatment.
- GM Rushing Into Shanghai Where Google Refuses to Tread in Expo Sales Drive General Motors Co. expects three million people to visit its pavilion at the Shanghai World Expo. The chance to lure customers in what has become GM’s largest market this year makes being there worthwhile, even as companies such as Google Inc. face difficulties operating in China.
- Fed Finds Record-Low OECD Inflation With ECB Showing Convergence on Rates Federal Reserve Chairman Ben S. Bernanke and European Central Bank President Jean-Claude Trichet can’t afford to let the economic recovery distract them from the danger of falling into a deflationary morass akin to Japan’s.
- Novolipetsk to Spend $4 Billion to Lift Steel Output as World Demand Rises OAO Novolipetsk Steel, Russia’s largest steelmaker by market value, plans to spend more than $4 billion boosting output over the next three years as global demand recovers, Chief Executive Officer Alexey Lapshin said.
- Lombard Odier Targets Russian Billions With Moscow Office to Challenge UBS Lombard Odier Darier Hentsch & Cie, Geneva’s oldest private bank, said it won Russian approval to open an office in Moscow, competing with Swiss banks UBS AG and Credit Suisse Group AG to manage individual fortunes.
- Tanker Rates Seen Sinking 35% as Refinery Closures Leave Surplus of Ships The most profitable supertanker market in more than a year is heading for a 35 percent slump as oil refineries from Japan to the U.K. shut for maintenance and leave a surplus of vessels.
- Zero Fees From India Has Investment Bankers Relying on Private Share Sales India’s best quarter for stock sales in at least six years was accompanied by a slump in fees as investment banks competed to take state-owned companies public in deals that netted them almost no revenue.
- Campbell's Soup Loses Out to Nestle's Pizza, Kraft's Macaroni and Cheese Frozen pizza, microwave dinners and macaroni and cheese are eating into Campbell Soup Co.’s U.S. sales.
- Canada Bank Chiefs Wary of U.S. Takeovers as Doubts About Assets Persist Royal Bank of Canada, Toronto- Dominion Bank and Bank of Montreal, flush with about $18 billion in excess capital and a currency that’s near parity with the U.S. dollar, favor building from within to snapping up troubled banks south of the border.
- Silicon Valley Companies Gear Up for Acquisitions Amid Improving Economy Silicon Valley companies looking to put their cash to work may drive a wave of mergers this year, bankers and venture capitalists say.
- Lehman Castoffs Sleep on Sidewalk, Seek Redemption as Trump's `Apprentice' Stan Stasiowski, who worked at Lehman Brothers Holdings Inc. for 23 years until it collapsed, arrived at Trump Tower at 5:50 a.m., hoping to be seen by 7.8 million television viewers and avoid hearing Donald Trump scream, “You’re fired!”
Bloomberg Daily News 7th April 2010
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