- 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.
- 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 and Portugal’s Vitor Constancio is likely to be his deputy, a survey of economists shows.
- 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 32 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.
- `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.
- 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.
- Beijing Seen Vacant for 50% of Commercial Space as Chanos Predicts a Crash Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates.
- BlackRock Says Greece Is No Lehman Brothers With EU Support, Buys Its Debt BlackRock Inc., the world’s biggest asset manager, increased its Greek bond holdings, betting the European Union won’t allow the nation to default as Prime Minister George Papandreou cuts the bloc’s biggest deficit.
- Rap Moguls Go From Lil' Wayne to Oil Business, Show Sincerity With Tattoo An oil well tattooed on the shaved head of Bryan “Birdman” Williams and a Web site for a company called Bronald Oil & Gas LLC indicate that two men known for their gushers in rap music are getting into the energy business.
- Expats Bound for Jobs in India Run Up Against `Out of Line' Visa Limits T.V. Mohandas Pai says he wants to hire more expatriates for Infosys Technologies Ltd., India’s second-largest software exporter, as the global economic recovery boosts sales. Stricter visa rules prompted by unskilled Chinese workers are holding him back.
- AT&T, Verizon May Have to Share Internet Lines With Rivals Under FCC Plan AT&T Inc. and Verizon Communications Inc. would be forced to lease fast Internet lines to rivals providing Web services to small businesses under a proposal being weighed by U.S. regulators.
- Lobbying May Push Fiduciary Rules for Brokers Off Congress Reform Agenda Lobbying by insurers and banks including Morgan Stanley may result in the elimination of a proposed new standard that would make retail brokers more accountable to their clients.
- Gensler Turns Back on Wall Street to Push Stronger Derivatives Legislation Gary Gensler, chairman of the Commodity Futures Trading Commission, is shattering any illusions that his 18 years at Goldman Sachs Group Inc. would make him sympathetic to Wall Street’s effort to weaken derivatives legislation.
- Nissan May Need New Small-Car Partner After Suzuki's Deal With Volkswagen Nissan Motor Co., Japan’s third- largest automaker, said it may need to find a new partner to manufacture its European small cars after Volkswagen AG bought a stake in Suzuki Motor Corp., which supplies Nissan’s Pixo model.
Bloomberg Daily News 15th February 2010
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