- Goldman Sachs Fraud Suit Hinges on Meaning of `Selected' in Paulson Abacus The case against Goldman Sachs Group Inc. may turn on the meaning of the word “selected.”
- Recovery Tilts Toward V-Shape as U.S. Profit Surge Prompts Growth Revision Surging profits are prompting economists to revise their estimates for growth, tilting the recovery more in the direction of a V-shape as businesses from Intel Corp. to JPMorgan Chase & Co. boost spending.
- United Said to Focus on Continental Over US Airways in Merger Negotiations UAL Corp.’s United Airlines has put merger talks with US Airways Group Inc. on hold as it focuses on a tie-up with Continental Airlines Inc., people familiar with the matter said.
- Drugmakers Risk Downgrades After Binge; Goldman Bonds Fall: Credit Markets Pharmaceutical company bonds, the most expensive in the U.S. corporate credit market, face rating cuts after a buyout spree to replace expiring patents more than doubled their debt to $270 billion from 2006.
- Yuan Appreciation May Help China Overtake Japan as No. 2 Economy, ANZ Says China’s anticipated move to let its currency appreciate may help the nation overtake Japan as the world’s second-largest economy, Australia and New Zealand Banking Group Ltd. said.
- Brown Must Avoid 1970-Style Surprise as Growth Data May Turn U.K. Election Prime Minister Gordon Brown can’t afford a repeat of 1970 for his governing Labour Party when figures on the U.K. economy are published this week.
- Exxon's Oozing Texas Oil Pits Haunt Residents as Drilling Set to Expand Bo Vavrusa was heaping dirt into the path of a wildfire on a Texas ranch in October 2007 when his tractor rammed an Exxon Mobil Corp. natural-gas pipe hidden in a thicket. Flames engulfed the tractor, burning his face, arms and hands as he fled.
- Toyota Investors Defy Consumer Reports in Starting to Regain $35 Billion Some Toyota Motor Corp. investors say the automaker’s stock is a bargain and poised for gains after recalls involving its top-selling models and criticism of its newest sport-utility vehicle.
- Brazil's Banco Modal Plans to Create $1 Billion Private Equity Energy Fund Banco Modal SA, the Brazilian bank that helps finance mid-cap companies, will create a 1.8 billion reais ($1.02 billion) private equity fund to invest in energy assets.
- BASF Says Luxury-Cosmetics Recovery Is Strengthening as Cognis Bid Looms BASF SE, a possible bidder for moisturizer-ingredients maker Cognis GmbH, said there are signs that demand for luxury cosmetics is improving, adding strength to a rebound in the $3.7 billion personal-care chemicals market.
- `Liquidity Puts' That Cost Citigroup May Be Curbed by New Accounting Rules New accounting rules may curb U.S. banks’ willingness to guarantee mortgage-backed investment trusts such as those that cost Citigroup Inc. $14 billion, said a top official in the Office of the Comptroller of the Currency.
Bloomberg Daily News 19th April 2010
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