- Jim Rogers, Marc Faber Advise Paring Investments Amid U.S. Equities Slump Investors should consider paring their holdings after a plunge in U.S. stocks yesterday, according to Jim Rogers and Marc Faber.
- Sleep-Deprived Traders Work at Midnight for U.K. Ballot; FTSE Futures Fall Traders across London started showing up for work around midnight as dealing desks opened in the early morning to react to the U.K. election.
- UBS Schools Private-Banking Rookies in Asia as Search for Talent Heats Up UBS AG, Switzerland’s biggest bank, is reviving an effort to recruit people without industry experience for its Asian private banking unit after a one-year hiatus, as competition for wealth managers heats up in the region.
- Alcatel Chief Verwaayen's Credibility Tested as Losses Total $12.4 Billion Ben Verwaayen took over as Alcatel- Lucent SA Chief Executive Officer in 2008 with a promise to turn the unprofitable telecommunications equipment maker around. Now, his credibility is being tested.
- Lufthansa Favors New Engines on Airbus, Boeing Jets as American Has Doubts Deutsche Lufthansa AG, operator of the biggest aircraft fleet in Europe, said it’s in favor of Airbus SAS and Boeing Co. putting new engines on their existing narrow- body models to help reduce operating costs by about 15 percent.
- Hunger Feeds Philippine Rebellions as Candidates Play Food Card for Votes Ricardo Istacion said he had the best meal of his life on April 19, feasting on fish, chicken and pork at a party thrown by Philippine presidential candidate Joseph Estrada to celebrate his 73rd birthday.
- Europe Sends Ex-Olympics Chief Barnier to Woo Geithner on Bank Overhaul When European Union financial-services commissioner Michel Barnier wrote a letter to U.S. Treasury Secretary Timothy F. Geithner on the complex topic of hedge-fund regulation, he used a little trick he learned from Olympic skiing champion Jean-Claude Killy: keep it short.
- CBS Overpaid Leslie Moonves $28 Million in Study of Executive Compensation Kenneth Feinberg, the paymaster at companies rescued by the U.S. Treasury, recently cut cash compensation for executives at American International Group Inc. and General Motors Co. He said some companies are buying into his credo of pay tied to performance.
- Banks Hemorrhage Cash With Cards Wanting To Be American Express William “Wild Bill” Janklow’s law office in Sioux Falls, South Dakota, is crowded with mementos from his 16 years as a Republican governor. On a low, wooden bookcase, near bottles of hot sauce custom labeled for his annual Buffalo Roundup, he keeps a 4-foot length of red ribbon festooned with Citibank credit cards.
Bloomberg Daily News 07th May 2010
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