- Banks Face Fraud From Short Sales as U.S. Home `Flopping' Schemes Spread Two Connecticut real estate agents found a way to profit in the U.S. housing bust: Buy low, sell fast. Their tactic was also illegal.
- BP Show of Support May Fail to Save Chief Hayward as Obama Goes on Attack On the night of June 7, a group including Vittorio Colao, head of telecom company Vodafone Plc, Martin Sorrell, chief of advertising firm WPP Plc, and John Sawers, director-general of the intelligence agency MI6, gathered on the sixth floor of BP Plc’s London headquarters to show support for Tony Hayward, the company’s beleaguered chief executive officer.
- Mary Landry Sees Game Changer as Gulf Oil Spill Awaits Atlantic Hurricanes Coast Guard Rear Admiral Mary E. Landry was up early on Saturday, April 24, preparing to brief news reporters on the deadly explosion at the Deepwater Horizon drilling rig when BP Plc called with bad news: The well was leaking oil into the Gulf of Mexico, 5,000 feet below the surface.
- Bearded Women Challenge French `Boys Club' Corporate Boardrooms in Paris A group of women wearing fake beards stormed the podium at Veolia Environnement SA’s shareholders’ meeting in Paris last month, challenging Chairman Henri Proglio over the gender makeup of his overwhelmingly masculine board.
- Soccer World Cup Delivers Justice for Apartheid League in Political Prison For Lizo Sitoto, the arrival of the soccer World Cup in South Africa is another justice for the former political prisoners who nurtured the sport there.
- Liechtenstein Offers Tax Evaders Way to Come Clean as Swiss Guard Secrecy Liechtenstein is luring wealthy Britons by offering them the chance to “come clean” on unpaid taxes, while lawmakers in neighboring Switzerland attempt to block the handover of suspected tax evaders to U.S. authorities.
- Boaz Weinstein Profits From Credit Market Distress Handing Paulson Losses The biggest swings in credit markets since 2008 are boosting demand for hedge funds that avoid bets on which way the economy is headed.
- GM, Ford to Accelerate Growth at Mexico Plants Where Workers Get $26 a Day Mexico’s share of North American auto production may rise at a quicker pace as General Motors Co., Ford Motor Co. and Chrysler Group LLC seek out workers making less than 10 percent of what their U.S. counterparts earn.
- Bankers Challenging Rules in Vienna Find an Ally in Sovereign Debt Crisis Deutsche Bank AG Chief Executive Officer Josef Ackermann and HSBC Holdings Plc Chairman Stephen Green are among bankers with a new ally in their tug of war with politicians over stricter rules: Europe’s sovereign-debt crisis.
- Iran Opposition Struggles as Nuclear Sanctions Wrangle Boosts Ahmadinejad A year after hundreds of thousands of Iranians poured onto the streets to protest President Mahmoud Ahmadinejad’s disputed re-election, the opposition has been almost silenced.
- Cathay Pacific, Air France Embrace Airbags Ahead of Tighter Safety Rules Cathay Pacific Airways Ltd. and Air France-KLM Group have begun introducing seatbelt-mounted airbags in their economy-class cabins as authorities tighten regulations aimed at reducing the risk of fatalities in plane crashes.
- SAC's Cohen Expands Trading Team as Hedge-Fund Founders Groom Successors Steven A. Cohen, the 53-year-old founder of SAC Capital Advisors LLP, picked four of his best people earlier this year to help select investments for the $2 billion he personally oversees at the hedge-fund firm.
- Medvedev Pursues Russian Home-Ownership `Dream' to Break With Soviet Past President Dmitry Medvedev’s government has acquired almost 2.5 million acres, an area larger than Cyprus, to promote construction of single-family homes and move Russians out of Soviet-style apartment blocks, the official in charge of the effort said.
- Women Prefer Men Holding Government Bonds, Japan Finance Ministry Ad Says Japanese women are seeking men who invest in government bonds, according to an advertisement being run by the Ministry of Finance.
- Banks in `Downward Spiral' Buying Capital in CDOs Distrusted by Regulators U.S. banks are fighting to preserve the use of securities that help them appear better capitalized, even as their investments in each others’ notes perpetuate what one regulator calls a “downward spiral” of losses.
Bloomberg Daily News 11th June 2010
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