Search This Blog


Search Tool

Aug 26, 2010

NASDAQ : Latest Forex News & Commentary. August 26th., 2010

Latest Forex News


Forex Commentary

BBC BUISINESS: Toyotaannounces fresh car recall. August 26th., 2010


Toyota logoToyota recalls one million cars

Toyota announces another recall involving more than one million cars in the US and Canada with potentially faulty engine control systems.

HP tops Dell again with 3Par bid

Hewlett Packard raises its bid in the battle with rival Dell to take control of data storage firm 3Par.

FORBES ASIA : Reality Check For China's Real Estate. August 26., 2010

Latest Stories

Reality Check For China's Real Estate

Reality Check For China's Real Estate
Don't be fooled by China's year-over-year increase in property prices.
Read More Read More

Ford Steps Up Asia Expansion

Ford Steps Up Asia Expansion
It'll use India as a base for export.
Read More Read More

BHP-Potash Deal Highlights Global Trend

BHP-Potash Deal Highlights Global Trend
The world's largest mining company is betting billions on the growing demand for agricultural commodities.
Read More Read More

When Havells Bought Sylvania

When Havells Bought Sylvania
Qimat Rai Gupta bought a company much bigger than his and then fought to not lose everything he had built.
Read More Read More

China's 'Fast Fashion' Contenders

China's 'Fast Fashion' Contenders
Home-grown, mass-market brands like Metersbonwe and Vancl have emerged to compete with foreign retailers.
Read More Read More

MarketWatch: Personal Finance Daily | Financial News That Move The markets Today. August 26th., 2010


Personal Finance Daily
AUGUST 26, 2010


Thursday's Personal Finance stories

By MarketWatch

Don't miss these top stories:

Another good news/bad news day in real estate. Foreclosures fell in the second quarter -- for the first time since 2006 and the largest drop since 2005 -- but the same Mortgage Bankers Association report found that the percentage of homeowners falling behind on their payments increased. That portends higher foreclosures down the road.

Meanwhile, mortgage rates in the past week dropped to yet another record low, and that fact -- ostensibly good news for home buyers and people eager and able to refinance -- was driven by bad news, according to the MBA.

Rates have fallen for nine out of the past 10 weeks -- the 30-year-fixed loan now averages 4.36% -- and this most recent drop may be tied to the fact that sales of existing homes plunged in July, the MBA said. The recent negative housing-market news "led to some market concerns that the housing market may slow the economic recovery," said Amy Crews Cutts, deputy chief economist at Freddie Mac, in a news release. Read Amy Hoak's stories today for all the latest real-estate news, good and bad.

And to think that back in January, when I bought my house, I worried about nailing down a 5% rate.

-- Andrea Coombes , Personal Finance editor

Foreclosures drop but delinquencies rise

The percentage of homes somewhere in the foreclosure process fell in the second quarter, the first drop since 2006 and the largest quarter-to-quarter drop since 2005, the Mortgage Bankers Association said Thursday.
See story on foreclosures drop but delinquencies rise.

Fixed-rate mortgages fall for nine of past 10 weeks

Rates on fixed-rate mortgages hit another low this week, after recent reports showed drops in existing- and new-home sales, according to Freddie Mac's weekly survey of conforming mortgage rates released Thursday.
See story on fixed-rate mortgages fall for nine of past 10 weeks.


What to watch for in target-date funds

Target-date funds may make investing for retirement look easy -- as easy as estimating when you'll retire -- but they're actually more complicated than that. Andrea Coombes has four tips in her Personal Finance Minute before you make such an investment in your 401(k).
 Watch video on what to watch for in target-date funds.

What to buy instead of bond funds

Don't lose money. That's frequently the main investment objective of the wealthy. Well, today, ordinary investors -- given the current state of the stock and housing market -- have the same idea.
See Robert Powell on what to buy instead of bond funds.

Floating-rate bond funds may leave investors adrift

For investors convinced that today's ultralow interest rates are bound to rise, specialized bond funds that adjust to fluctuating market conditions might seem tailor-made. But there's a danger with these funds that may outweigh their appeal: Their low credit quality means they're not for the faint-hearted.
See Mutual Understanding on floating-rate bonds may leave investors adrift.


Eight credit-repair tips after bankruptcy

You're one of the millions of consumers who have erased financial hardships by filing for bankruptcy. Now what?
See Jennifer Waters's Consumer Confidential eight credit-repair tips after bankruptcy.

USDA lowers food inflation forecast

Consumers should continue to see low prices at the grocery store, based on a forecast from the U.S. Agriculture Department, which expects food inflation in 2010 to be at the lowest level since 1992.
See story on USDA lowers food inflation forecast.


Jobless claims drop

The number of people filing first-time claims for unemployment benefits fell for the first time in four weeks, down 31,000 to 473,000, the Labor Department reported Thursday.
See story on jobless claims drop.

Commentary: Drop in jobless claims small comfort

The number of people filing for unemployment benefits declined for the first time in a month, a welcome spot of good news on the economy.
See drop in jobless claims small comfort.


Commentary: Recovery will feel like a recession

It's getting scary again. After some improvement in the data over the spring and early summer, the recent news is describing an economy growing below 2%. While technically not a double-dip recession, the recovery could be so weak it will feel like another downturn.
See Kathleen Madigan story on recovery will feel like a recession.

New 'say on pay' law could temper CEO pay

One of the lesser-known elements of the sweeping Dodd-Frank Act aimed primarily at reforming the nation's banks is directing the Securities and Exchange Commission to write rules that could temper the compensation of executives across multiple industries.
See story on new 'say on pay' law could temper CEO pay.


Toyota recalls another 1.1 million vehicles

Toyota Motor Corp. on Thursday added another 1.1 million cars to its recall woes, this time telling drivers to bring in their Corolla and Matrix sedans to fix a problem with the engines.
See story on Toyota recalls another 1.1 million vehicles.

RTTNews : Evening Market Wrap :Thu Aug 26 17:01 2010

Evening Market Wrap Thu Aug 26 17:01 2010 


Aug 26, 2010 Thu Aug 26 17:01 2010
Stocks saw steep losses on Thursday, as traders braced for a downward revision of second quarter GDP on Friday. Meanwhile, the day's better than expected reading on jobless claims was largely shrugged off as part of a recent wave of mixed economic reports. Full Article

Economic News

Aug 26, 2010 Jobless Claims Fall More Than Expected But Remain Elevated Following the release of several disappointing employment reports, the Labor Department released a report Thursday morning showing that first-time claims for unemployment benefits fell by more than expected in the week ended August 21st. The report showed that initial jobless claims fell to 473,000 from the previous week's revised figure of 504,000. Economists had expected jobless claims to show a more modest decrease to 485,000. Full Article
Aug 26, 2010 Roubini Puts Chances Of Double-Dip At Greater Than 40%, Warns On Deflation Noted economist Nouriel Roubini sees a 40% or greater chance of a double-dip recession, noting that temporary measures to support the economy earlier this year have become "headwinds" to growth. Tax credits for home buyers and the government's cash for clunkers campaign, both popular programs that spurred economic activity in the first quarter before expiring, are now having a detrimental impact on the economy, Roubini suggested on CNBC Thursday morning. Full Article

Earnings News

Aug 26, 2010 Dell Outbids Hewlett-Packard To Acquire 3PAR - Update Technology company Dell Inc. (DELL) said Thursday that 3PAR Inc. (PAR), a provider of highly-virtualized storage solutions, has accepted its sweetened acquisition offer of $24.30 per share in cash, or a total enterprise value of $1.6 billion. The two companies have signed an amendment to the agreement reflecting the new offer price. Full Article
Aug 26, 2010 Diageo Profit Rises On Emerging Markets Strength Beverages company Diageo plc (DGE.L, DEO) Thursday reported an increase in profit for the full year ended June 30, boosted by strong performance in the developing markets which offset weak North American and European markets. The maker of Smirnoff vodka, Johnnie Walker whiskey and Guinness beer reported full-year pre-tax profit of GBP 2.24 billion, up from GBP 1.99 billion last year. Full Article

Forex Top Story

Aug 26, 2010 Dollar Fades Ahead Of Bernanke In Jackson Hole The dollar was generally weaker on Thursday, giving back recent gains against the euro and sterling ahead of tomorrow's closely-watched speech from Fed Chairman Ben Bernanke. Quiet trading left the dollar near its 15-year low against the yen, which has been resilient despite speculation that Japanese officials will intervene to halt its rapid rise. Full Article

Political News

Aug 26, 2010 Poll Shows Whitman Takes Lead In California Gubernatorial Race Republican Meg Whitman has moved out to a notable lead over Democrat Jerry Brown in California's gubernatorial race, a poll from conservative-leaning Rasmussen Reports revealed Thursday, with Whitman apparently getting a boost from last weekend's state GOP Convention. Full Article
Aug 26, 2010 Poll Shows Most Americans Oppose Renewing Combat Operations In IraqA notable majority of Americans oppose renewing U.S. combat operations in Iraq even if Iraqi forces are unable to maintain security there, according to the results of a Gallup poll released on Thursday. The poll showed 63 percent of Americans oppose renewing U.S. combat operations in Iraq compared to 33 percent that favor renewing combat operations. Full Article

Top story

Aug 26, 2010 Barnes & Noble Urges Shareholders To Reject Burkle Bid The board of bookstore chain Barnes & Noble Inc. (BKS) has urged its shareholders to reject billionaire Ronald Burkle's takeover bid, accusing the activist investor of trying to "steal" the company without paying the premium deserved by shareholders. Full Article

Stocks To Watch

Aug 26, 2010 Nothing plastic…Environmental concerns may put this bio-plastics maker in a sweet spot. A recent multi-million dollar contract win into the European market, could be the propelling force to draw out this company from the shadows to the spotlight and to snap the stock out of its long stupor. The company -- Cereplast, Inc. Full Article

NASDAQ : Evening Brief : Bernanke Must Be Clear on Objectives: BofA Economist. August 26th., 2010


»click here to see the latest top stories from


»click here to see the latest top vid

NASDAQ: Today's Commodity Market Summary: GOLD PRICE - Oil Price - Metals Futures. August 26th., 2010


Commodity Market: Gold Price - Oil Prices - Metals Futures

Last Change %Change Today's High/Low As of NYMEX WTI Crude Oil 73.32 0.0600 -0.0818% 73.98 / 72.54 2010-08-26 17:37:05 COMEX Gold 1241.30 2.8000 0.2261% 1246.00 / 1235.10 2010-08-26 17:38:01 NYMEX Natural Gas 3.87 0.0410 1.0708% 3.935 / 3.791 2010-08-26 17:39:27 COMEX Copper 3.326 0.0945 2.9243% 3.335 / 3.2425 2010-08-26 17:38:04 NYMEX RBOB Gasoline 1.9027 0.0045 -0.2359% 1.9175 / 1.86 2010-08-26 17:13:11 COMEX Silver 19.02 0.0520 -0.2727% 19.21 / 18.935 2010-08-26 17:42:00

NYT :Afternoon Business News. August 26th., 2010


Dell Raises Its Bid for 3Par

After a bidding war with Hewlett-Packard, Dell raised its offer for the data-storage company to about $1.5 billion and said that 3Par had accepted the offer.

Toyota Recalls 1.1 Million Cars for Engine Problem

The recall, which covers the 2005 through 2008 Corolla sedan and Matrix hatchback, is Toyota's 15th this year.

J.&J. Recalls Hip Implants

It was the latest in a succession of recalls of some of the company's best-selling products.

F.A.A. Proposes $24 Million Fine Against American Airlines

The record penalty is over maintenance lapses that caused thousands of canceled flights in 2008.

Indian Drug Magnate Sets Sights on Health Care Sector

Malvinder Singh has spent almost $1 billion in the past two years buying up assets in health care and other sectors around the world, and is scouting for new targets.

MarketWatch ; Special Financial Services | Business & Economy:Berkshire offers to buy rest of Wesco Financial...August 26th., 2010

Berkshire offers to buy rest of Wesco Financial
By Alistair Barr MarketWatch

Chairman Warren Buffett is offering to pay a price equal to Wesco's book value per share. Wesco stock jumped above the company's most-recent reported book value per share, suggesting Buffett may need to pay more to get the deal done. 

By MarketWatch

In a bid reminiscent of a last-minute eBay auction, Dell Inc. swooped in and won 3Par Inc., writes Therese Poletti. 

WSJ: :THE WALL STREET JOURNAL . COM EDITORS : This WeeK's Most Popular:: " The Glass Pavilion" . August 26th., 2010


from The Wall Street Journal Online

August 26, 2010 -- 4:30 p.m. EDT



Architect Steve Hermann calls this glass-walled home in Montecito, Calif. his 'opus.' It features five bedrooms, a kitchen with a wine room and an art gallery that displays his vintage car collection. - Visit the House of the Day homepage.


* * *

Gluten-free foods are a boon to people with celiac disease, wheat allergies or gluten sensitivity. But the notion that this diet can help people lose weight or avoid carbohydrates is a myth. - Video: Why Gluten-Free Isn't for Everyone

* * *

A 60-mile traffic jam near the Chinese capital could last until mid-September, officials say. - China Real Time: Beijing, World's Biggest Parking Lot - Readers React: 'Welcome to the first world, China' - Photos: Are We There Yet? - China's Transport Infrastructure

* * *

Corporate bureaucracy is becoming obsolete. Why managers should think like venture capitalists. - Video: The Secrets of Top Managers

* * *

U.S. home sales plummeted in July as potential buyers stayed on the sidelines, spurring fears of renewed weakness in housing prices and the broader economy. - Manhattan Gains as Housing Stalls - Opinion: The Housing Mirage - Video: What Plunge Means for Market - Vote: What's behind the plunge?


Architect Steve Hermann calls this glass-walled home in Montecito, Calif. his 'opus.' It features five bedrooms, a kitchen with a wine room and an art gallery that displays his vintage car collection. - Visit the House of the Day homepage.


* * *

Mexico's increasingly violent war on organized crime hit a new low after the discovery of 72 bodies at a remote ranch near the U.S. border. - Timeline: The War on the Cartels

* * *

A 60-mile traffic jam near the Chinese capital could last until mid-September, officials say. - China Real Time: Beijing, World's Biggest Parking Lot - Readers React: 'Welcome to the first world, China' - Photos: Are We There Yet? - China's Transport Infrastructure

* * *

No one said it would be easy to build the greenest house on the block. Scott Adams on perplexing energy bills, ugly lawns and the true meaning of "green." - Photos: Great Green Houses - Greener Pastures: Trends in Home-Building

* * *

A leader of a planned Muslim community center near Ground Zero compared opposition to the project to the persecution of Jews. - Metropolis: More coverage of the Islamic Center - Video: Mosque Dispute Sparks N.Y. Rallies - Vote: Is an interfaith center at site the solution?


Honey, I Shrunk My Approval Ratings - 633 comments

* * *

Plunge in Home Sales Stokes Economy Fears - 446 comments

* * *

Opinion: Putting the Brakes on ObamaCare - 333 comments

* * *

Mayor Defends Mosque - 315 comments

* * *

Opinion: A Muslim Reformer on the Mosque - 259 comments

Deals Alert From The Wall Street Journal | WSJ Deals Alert : August 26th., 2010


Deals Alert
from The Wall Street Journal

Hewlett-Packard raised its bid for data-storage company 3PAR to $27 a share, topping a sweetened offer by rival Dell earlier in the day.

H-P said its offer was 11% higher than Dell's latest deal, which was worth $24.30 a share. 3PAR's board had backed Dell's earlier proposal.

Shares of 3PAR jumped 6.4% to $27.70 in New York Stock Exchange trading Thursday, on hopes the bidding war will continue.

FOX BUSINESS : BREAKING NEWS |: DOW Deeps Below 1000. | U.S. Markets At Close Snapshot.: August 26th., 2010


05 2010 Trader Upset 276
Dow Dips Below 10000The Dow hit fresh seven-week lows as new data revealing the first drop in weekly jobless claims in a month failed to puncture the cloud of economic gloom hovering over Wall Street.

Toyota's Latest Recall

The auto maker plans to recall more than 1 million Corolla and Matrix vehicles for stalling problems.

Intel CEO Criticizes Obama

Final Score You know President Obama is in deep trouble when Silicon Valley turns against him.

Could GOP Repeal Obamacare?

WATCH A look at which measures in the health-care law a Republican House might be able to overturn.

Saints Owner on Life After Katrina

WATCH New Orleans Saints Owner Tom Benson reflects on his team's stellar season and how New Orleans has changed since Hurricane Katrina.

Market Snapshot
Index Last Change %Change  
DJIA 9,985.81 -74.25 -0.74% Hilighted
Nasdaq 2,118.69 -22.85 -1.07%  
S&P 500 1,047.22 -8.11 -0.77%  
FOX 50 760.27 -5.55 -0.72%  
DIJA Chart

The Washington Post :Afternoon Edition Headlines | Most Read Articles : August 26th. 2010.

Most Viewed Articles on

1) Former RNC chairman reveals he's gay

Ken Mehlman, former chairman of the Republican National Committee and the former campaign manager for George W. Bush's 2004 re-election bid, has told his family and colleagues that he is gay, according to The Atlantic's Marc Ambinder.

2) Glenn Beck rally will be a measure of the tea party's strength

Full coverage of the 8/28 rallies here. When Fox News and talk radio host Glenn Beck comes to Washington this weekend to headline a rally intended to "restore honor" to America, he will test the strength - and potentially expose the weaknesses - of a conservative grass-roots movement that remains...

3) Brutal slave history unearthed at Frederick County's L'Hermitage

From the old road that crossed the Monocacy River, you could plainly see the slave cabins of L'Hermitage.

4) A party too far right

That the GOP's experiencing an insurrection -- and Dems are not -- helps explain recent primary results.

5) As economy slows and Fed voices conflict, markets look to Bernanke for guidance

With the housing market retreating, unemployment lingering and top officials at the Federal Reserve in open disagreement over what to do, Fed Chairman Ben S. Bernanke is under rising pressure to offer solutions in an address Friday that is likely to be his most important since the end of the fina...

6) Police: Alleged serial stabber to be extradited to Mich. today

Former Northern Virginia resident Elias Abuelazam will be extradited to Michigan, where he is a suspect in a series of random stabbings, five fatal, on Thursday, according to authorities.

7) Beck rally will be a meaure of 'tea party' strength

When Fox News and talk radio host Glenn Beck comes to Washington this weekend to headline a rally intended to "restore honor" to America, he will test the strength - and potentially expose the weaknesses - of a conservative grass-roots movement that remains an unpredictable force in the country's...

8) The Mideast mirage

The biggest threat to Israeli-Palestinian peace might be the peace process itself.

9) A Cold War cyberchill

Do cybersecurity officials recognize the dangers of militarizing the global highway?

10) Upset likely in Alaska primary

Lisa Murkowski's surprise setback in the Alaska Senate primary shows that no incumbent can afford to be caught flat-footed

U.S. Transportation Secretary LaHood Announces $11.6 Million in Grants for Minority- and Women-Owned Businesses . August 26th., 2010

FHWA 40-10
Thursday, August 26, 2010
Contact: Doug Hecox
Tel: 202-366-0660

U.S. Transportation Secretary LaHood Announces $11.6 Million in Grants for Minority- and Women-Owned Businesses Resources will Help Small Businesses Compete for Federal Highway Contracts
WASHINGTON - U.S. Transportation Secretary Ray LaHood today announced $11.6 million in grants to help disadvantaged business enterprises (DBEs) compete for federal highway contracts in 30 states and Puerto Rico.
“Giving these small businesses the assistance they need to compete for federal highway contracts creates jobs and ultimately helps taxpayers by reducing project costs,” said Secretary LaHood. “Any way you look at them, these grants are a ‘win-win’ for the American people.”
The grants from the Federal Highway Administration’s Disadvantaged Business Enterprise/Supportive Services (DBE/SS) program provide federal aid to DBE firms to improve their ability to compete for and fulfill federal highway contracts.
Since1982, the Federal Highway Administration (FHWA) has promoted the participation of DBEs in federal-aid highway contracts through state-managed programs. The DBE/SS grants are part of an ongoing federal effort to help state departments of transportation train certified DBE firms on a wide range of business management practices, including procurement assistance and guidance on securing bonding. The goal of the program is to help DBEs successfully compete for federal highway projects.
"Helping DBE firms and their workers enriches the competition for federal highway contracts," said Federal Highway Administrator Victor Mendez. "Grants like these will help people find jobs and are an important part of economic recovery."
A DBE is a for-profit, small business owned by minorities, women or socially and economically disadvantaged individuals or, in the case of a corporation, in which 51 percent of the stock is owned by one or more such individuals. The daily business operations must be controlled by at least one of the socially and economically disadvantaged owners. More information about DBE eligibility can be found on the U.S. Department of Transportation’s website.
Details of today's awardees are as follows:

Recipient Organization
Amount Awarded
Alabama Alabama Department of Transportation
Alabama Alabama Department of Transportation
Alaska Alaska Department of Transportation and Public Facilities
Arizona Arizona Department of Transportation
Arkansas Arkansas State Highway Transportation Department
California California Department of Transportation
Connecticut Connecticut Department of Transportation
Delaware Delaware Department of Transportation
Florida Florida Department of Transportation
Idaho Idaho Department of Transportation
Illinois Illinois Department of Transportation
Indiana Indiana Department of Transportation
Kansas Kansas Department of Transportation
Kentucky Kentucky Transportation Cabinet
Maine Maine Department of Transportation
Maryland Maryland State Highway Administration
Michigan Michigan Department of Transportation
Mississippi Mississippi Department of Transportation
Montana Montana Department of Transportation
New Mexico New Mexico Department of Transportation
North Carolina North Carolina Department of Transportation
Ohio Ohio Department of Transportation
Oklahoma Oklahoma Department of Transportation
Pennsylvania Pennsylvania Department of Transportation
Puerto Rico Puerto Rico Highway and Transportation Authority
South Carolina South Carolina Department of Transportation
South Dakota South Dakota Department of Transportation
Tennessee Tennessee Department of Transportation
Texas Texas Department of Transportation
Vermont Vermont Department of Transportation
Washington Washington Department of Transportation
Wyoming Wyoming Department of Transportation