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Sep 28, 2010

NYT : Breaking News Alert.-Guilty Plea Expected by Ex-N.Y. Comptroller Alan G. Hevesi in Corruption Case. Sept.28th., 2010


Breaking News Alert
The New York Times
Tue, September 28, 2010
Guilty Plea Expected by Ex-N.Y. Comptroller Alan G. Hevesi in Corruption Case

Alan G. Hevesi, the former state comptroller, is poised to
plead guilty to a felony corruption charge after a lengthy
investigation into his office's rewarding of pension
investment business to firms that provided financial benefits
to Mr. Hevesi and his aides, people with knowledge of the
case said.

Barring an 11th-hour change of heart, Mr. Hevesi will become
the highest-ranking state official convicted in the case and
most likely to serve time in prison: In 2006, he pleaded
guilty to a separate felony after admitting he had used state
workers to chauffeur his ailing wife, but avoided jail time
in that case after he agreed to resign.

Read More:
http://www.nytimes.com/2010/09/29/nyregion/29hevesi.html?emc=na

CNBC EVENING BRIEF : States Are Poised to Be Next Credit Crisis for US: Whitney. Sept. 28tyh., 2010



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MarketWatch : Personal Finance Daily.- Shareholders should get more active, not less


MarketWatch

Personal Finance Daily
SEPTEMBER 28, 2010

Tuesday's Personal Finance stories

Don't miss these top stories:


By MarketWatch






When you own shares in a company, just how much right do you have to complain about its practices? For Chevron Corp., the line appears to be drawn about at the point where you start leading chants at shareholder meetings.

The energy company pressed criminal charges against an investor who apparently stood up at a recent meeting to complain about Chevron's environmental practices, then proceeded to encourage other attendees to participate in a presumably less-than-complimentary rant against the company, according to our story today.

Did this activist shareholder take things too far? I'd argue the company probably could have had her removed from the room if she refused to let the meeting proceed. By pressing charges, Chevron may be drawing more attention than it really wants to this activist's claims.

After all, in a post-BP-spill world, investors rightly are concerned about the possible environmental — and market — repercussions of a company's activities. At about $39.50 today, BP's share price is still not back to where it was pre-spill (it hit about $60 before the rig disaster on April 20). And there are the impossible-to-quantify effects of that particular disaster. People's lives were lost. Jobs are gone. The Gulf of Mexico may never be the same.

Some news accounts have pointed to a company culture at BP where safety took a back seat to short-term profits. Certainly in those situations more investors should stand up at shareholder meetings to complain — and loudly.

Andrea Coombes , Personal Finance editor



INVESTING

Chevron throws book at shareholder activist

As the nation's second-largest oil company, Chevron Corp. is accustomed to a cavalcade of activists at its annual shareholder meetings.
Read more on Chevron throws book at shareholder activist.

Contrarian analysis is bullish on stocks

There continues to be a strong wall of worry for the market to climb.
Read more on contrarian analysis is bullish on stocks.

Global, small-cap funds on shopping list

Gold, silver, precious metals and real estate funds are hot nowadays, but investors can get what they need with a classic hybrid stock-and-bond fund, according to Stephen McKee, editor of the No-Load Mutual Fund Selection & Timing Newsletter.
Read more on global, small-cap funds on shopping list.

TAXES

7 myths and realities about taxes

The collapse last week of a Congressional deal means the Bush tax cuts — which are due to expire at the end of the year — are likely to be a hot issue in this election.
Read more on 7 myths and realities about taxes.

Surprise! New tax breaks

It's official: Congress won't tackle this year's most urgent issues—the income tax, estate tax and alternative minimum tax—until after the election. But this week lawmakers passed the Small Business Jobs Act of 2010. For better or worse, it affects a far broader swath of taxpayers than the law's name indicates. Here are some important provisions.
Read more on new tax breaks.

HEALTH CARE

How college health plans fail students

On Thursday, the first big pieces of the new health-care overhaul took effect. Among other things, the rules mandate that insurance companies offer coverage to adult children until the age of 26 and devote at least 80% of their revenue to health-care costs.
Read more on how college health plans fail students.

RETIREMENT

Is a Roth 401(k) right for you?

Roth 401(k) accounts are becoming more prevalent in company-sponsored retirement plans. Whether one is right for you depends on factors including your expectations of future income-tax rates.
Read more on is a Roth 401(k) right for you?

SMALL BUSINESS

Setting up a business structure

After getting laid off from a senior engineering job last year, Marc Karell launched a consulting business from his home in Mamaroneck, N.Y. But before he landed a single client, the unemployment benefits he had been relying on to make ends meet came to a sudden halt.

REAL ESTATE

Home price growth slows in July

Home price growth in 20 major U.S. cities slowed in July, showing that both transactions and prices have been impacted by the expiration of a key tax credit.
Read more on home price growth slows in July.

ECONOMY & POLITICS

Top U.S. CEOs less optimistic on economy

The leaders of America's largest companies have scaled back their sales forecasts and plan to hire fewer workers over the next six months, according to a survey released Tuesday.
Read more on top U.S. CEOs less optimistic on economy

U.S. consumers less confident: Conference Board

Consumer confidence in the U.S. economy remains "quite grim," the Conference Board reported Tuesday, as the group's monthly gauge fell to 48.5 in September, the lowest reading since February.
Read more on U.S. consumers less confident: Conference Board.

Banks keep failing, no end in sight

The largest number of bank failures in nearly 20 years has eliminated jobs, accelerated a drought in lending and left the industry's survivors with more power to squeeze customers.
Read more on banks keep failing, no end in sight.

Commentary: Inflation, not deflation, is biggest threat

The Federal Reserve's wish for more inflation may come true sooner than the central bank expects.
Read more on inflation, not deflation, is biggest threat.

Commentary: America on the brink of a Second Revolution

"What's distinctive about the Tea Party is its anarchist streak -- its antagonism toward any authority, its belligerent self-expression, and its lack of any coherent program or alternative to the policies it condemns," warns Jacob Weisberg in Newsweek. But why not three cheers for the Tea Party Express?
Read more on America on the brink of a Second Revolution.

Commentary: U.S. complaints about yuan are mostly politics

The U.S. government and Congress' complaints over China's currency are reaching a crescendo. The driving force is America's depressed labor market: Employment will undoubtedly be the most important issue in November's midterm elections.
Read more on U.S. complaints about yuan are mostly politics.

Gordon Gekko's real life transgressions

For a generation of Wall Street bankers, the symbol of the perfect investment banker wasn't any flesh-and-blood individual in the industry, it was Michael Douglas.
Read more on Gordon Gekko's real life transgressions.

CFTC : Joint Statement by CFTC Chairman Gary Gensler and European Commissioner Michel Barnier on the Financial Reform Agenda. Sept. 28th., 2010


Joint Statement by CFTC Chairman Gary Gensler and European Commissioner Michel Barnier on the Financial Reform Agenda

United States Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler and European Commissioner Michel Barnier spoke today and reaffirmed their strong determination to cooperate closely in strengthening the global financial system.

CFTC Charges People's Alternative, Inc. and its Principals with Commodity Pool Fraud and Misappropriation. Sept. 28th., 2010


CFTC Charges People's Alternative, Inc. and its Principals with Commodity Pool Fraud and Misappropriation
 

Tue, 28 Sep 2010 11:21:00 -0500
The CFTC obtained an emergency federal court order freezing the assets of defendants People’s Alternative, Inc. of Los Angeles, Calif. and its principals, Jaime Gallardo of Pasadena, Calif., and Karl Ochoa and Maria Iracheta, both of Los Angeles.

RTTNews : Evening Market Wrap .- Stocks Close Mostly Higher After Seeing Early Weakness - U.S. Commentary

Evening Market Wrap Tue Sep 28 17:01 2010  

Commentary

Sep 28, 2010 Stocks Close Mostly Higher After Seeing Early Weakness - U.S. Commentary After coming under pressure in early trading on Tuesday, stocks showed a substantial turnaround over the course of the morning and ended the day mostly higher. While buying interest was somewhat subdued in afternoon trading, the major averages all ended the day in positive territory. Full Article

Economic News

Sep 28, 2010 Home Prices Rose At Slower Annual Rate In July Home prices in the month of July increased at a slower annual rate compared to June, according to a report released by Standard and Poor's on Tuesday, although the report showed that home prices in most markets increased on a monthly basis. Full Article
Sep 28, 2010 Consumer Confidence Drops In September Amid Deterioration In Expectations After reporting a modest improvement in consumer confidence in August, the Conference Board released a report on Tuesday showing that confidence saw a substantial retreat in September due in large part to a notable deterioration in consumer expectations. The Conference Board said its consumer confidence index fell to 48.5 in September from a downwardly revised 53.2 in August. Economists had expected the index to edge down to 53.0 from the 53.5 originally reported for the previous month. Full Article

Earnings News

Sep 28, 2010 Walgreen Q4 Profit Rises, Tops Estimates - Update Drugstore chain Walgreen Co. (WAG) reported Tuesday a higher profit in its fourth quarter, mainly driven by strong growth in prescription sales. Quarterly earnings per share as well as top line beat market projections. President and CEO Greg Wasson commented that the double-digit increase in earnings were driven by strong operating performance across its 7,500-store network and expense control company wide. Full Article

Corporate News

Sep 28, 2010 Northrop Grumman Wins $2.63 Bln Worth Homeland Security Contract - Update Defense contractor Northrop Grumman Corp. (NOC) said Tuesday that it has won a $2.63 billion task order to install a campus-wide information technology infrastructure at the U.S. Department of Homeland Security or DHS headquarters in Washington D.C. The ten-year contract was awarded by the U.S. General Services Administration for information technology integration at the new DHS campus under the Alliant indefinite delivery, indefinite quantity contract. Northrop said that the work will be conducted over a five-year base period with a two-year option and an additional three-year option period. Full Article

Mergers

Sep 28, 2010 Endo Pharma To Buy Generics Maker Qualitest For $1.2 Bln Cash; Confirms FY10 View - Update Endo Pharmaceuticals Holdings Inc. (ENDP) Tuesday announced a definitive deal to acquire privately-held generics company Qualitest Pharmaceuticals for about $1.2 billion in cash. Endo expects the transaction to be immediately accretive to adjusted earnings per share in the first full year after the deal closure. Endo also backed its adjusted earnings and revenue outlook for fiscal 2010. Full Article

Political News

Sep 28, 2010 Emanuel Said To Be Preparing Run For Mayor Of Chicago President Barack Obama's right-hand man is expected to leave the White House and head back to Chicago to run for mayor of the city. Rahm Emanuel himself hasn't made the announcement, but people close to the Chief of Staff told CNN that his departure is imminent. Full Article
Sep 28, 2010 Poll: McMahon Closing Fast On Blumenthal In Connecticut Senate Race Democrat Richard Blumenthal is losing his grip on the Connecticut US Senate race, with Republican Linda McMahon closing to within a few points in the latest Quinnipiac University poll. State attorney general Blumenthal leads McMahon, a former professional wrestling executive, by a 49-46 margin, according to the poll released Tuesday. Full Article

F & F I N : Reuters Daily Investor Update .-Latecomers jump on Wall St's September rally. Sept. 28th., 2010





Latecomers jump on Wall St's September rally
Confidence slips to lowest since February
Amid doubts, deficit panel eyes retirement, tax
Medley says Fed preps quantitative easing: source
Walgreen profit beats expectations
CEOs less willing to hire, sales a worry
Barnes & Noble's chairman fends off Burkle
Long time for Google mobile to bring most revenue: CEO
Best Buy to spend more on holidays, hiring flat
JetBlue prefers to grow on its own: CEO

NYT : Afternoon Business News.-In Russia, BP Sees a Second Act. Sept. 28th., 2010


BUSINESS:

In Russia, BP Sees a Second Act

By ANDREW E. KRAMER
Reviled in the United States, the oil giant has mended its once-caustic relations with Russia at an opportune time.

Block on Minerals Called Threat to Japan's Economy

By HIROKO TABUCHI
China denies halting shipments of rare earths, but traders and industry executives say customs agents are blocking exports to Japan after a territorial dispute.

AOL to Acquire TechCrunch

By VERNE KOPYTOFF
The deal will help the company beef up its growing online editorial business.
DealBook

Barnes & Noble Wins Battle for Board

By MICHAEL J. DE LA MERCED
Barnes & Noble on Tuesday fended off a proxy challenge from billionaire investor Ron Burkle, holding on to the seat held by its chairman, Len Riggio, left.

Wall Street Finds Some Momentum

By CHRISTINE HAUSER
Shares had fallen after the Conference Board said September consumer confidence in the United States slipped to its lowest levels since February.

The Washington Post : Afternoon Edition. Most Reas Articles. Sept. 28th., 2010

 

Most Viewed Articles on washingtonpost.com

1) Were those boos for the Mama Grizzly?

Did former Alaska guv/TLC reality star/Fox News Channel contributor Sarah Palin get the raspberry from ABC's "Dancing With the Stars" audience Monday night?

2) A sadder but wiser Axelrod packs his bags

David Axelrod, leaving Washington in defeat.

3) Woodward excerpts: Biden warned Obama during Afghan war review not to get 'locked into Vietnam'

The second of three articles adapted from "Obama's Wars" by Bob Woodward.

4) North Korean leader promotes son, sister in advance of party conference

SEOUL - North Korean leader Kim Jong Il promoted his son and his sister to top military positions in the hours before the country's largest political conference in 30 years, demonstrating anew his reliance on family bloodlines to protect his reclusive regime.

5) Household income plunged in 2009

Household incomes shrank for the second year in a row in 2009, as the recession eroded the share of American families earning over $100,000 and swelled the ranks of people who are poor or just barely making it, according to census statistics released Tuesday.

6) Liberal groups plan One Nation rally in D.C.

Liberal groups hoping to revive enthusiasm before the midterm elections are encouraging members to show up on the Mall on Saturday for a rally that they expect to draw tens of thousands of people.

7) 'The Wire' writer David Simon among MacArthur genius grant winners

David Simon, the writer-producer of hour-long TV dramas "Homicide," "The Wire" and "Treme" is among 23 recipients of a MacArthur Fellowship, also known as a "genius grant," also known as a $500,000 jackpot with no strings attached.

8) A soul to search in Atlanta

Whether he's an upstanding father or a sexual con artist, he ought to promote tolerance of homosexuality.

9) Woodward excerpts: Military thwarted president seeking choice in Afghanistan

The first of three articles adapted from "Obama's Wars" by Bob Woodward.

10) France on high alert as officials warn of possible terrorist attacks

PARIS- When an unclaimed package was spotted in a busy Paris subway station Monday, police immediately diverted trains, ordered thousands of frustrated travelers into the street and dispatched a bomb squad to test for explosives.

INVESTOPEDIA: Wall Street Writers: A Behind-The-Scenes Career.Sept. 28th., 2010

Go To Investopedia.com!

Wall Street Writers: A Behind-The-Scenes Career
Financial Career
Wall Street Writers: A Behind-The-Scenes Career
Financial Education Financial Education
Why Leveraged ETFs Don't Always Boost Returns

Exam Question Exam Question
The interest rate used to define the “risk-free” rate of return is the:
FINRA Update FINRA Update
Amendments to FINRA Rules on Trading Pauses Due to Extraordinary Market Volatility and Clearly Erroneous Transactions in Exchange-Listed Securities

CFTC: Derivatives Reform, EUROFI Financial Services Forum Panel on Trading and Clearing. Sept. 28th., 2010



Remarks, OTC Derivatives Reform, EUROFI Financial Services Forum Panel on Trading and Clearing
 
Tue, 28 Sep 2010 08:55:00 -0500
Remarks, OTC Derivatives Reform, EUROFI Financial Services Forum Panel on Trading and Clearing, Brussels, Belgium

MarketWatch : Special Financial Services.- Apple, H-P shares swing on Tim Cook rumor.

MarketWatch
SPECIAL FINANCIAL SERVICES
 
Apple, H-P shares swing on Tim Cook rumor
 
By Benjamin Pimentel MarketWatch


Speculation that H-P might be considering Tim Cook moves both companies stocks. 

U.S. Department of Transportation Signs Global Safety Information Exchange Agreement. Sept.28th., 2010

DOT 180-10
Tuesday, September 28, 2010 
Contact: Alison Duquette 
Phone: 202-267-3883 
U.S. Department of Transportation Signs Global Safety Information Exchange Agreement

MONTREAL – U.S. Transportation Secretary Ray LaHood today signed an agreement to make flying safer around the globe through the exchange of safety information between the U.S. Department of Transportation (DOT) and international aviation bodies.
Under the Memorandum of Understanding signed at the 37th Assembly of the International Civil Aviation Organization (ICAO), DOT, the Commission of the European Union, the International Air Transport Association and ICAO will participate in the Global Safety Information Exchange (GSIE). The aim of the exchange is to improve civil aviation safety by providing a clearer perspective on existing and emerging areas of risk and increasing the opportunity to identify timely solutions.
“When countries and international organizations each share their information on air safety, they can help make flying safer in all parts of the world,” Secretary LaHood said. “This agreement shows that the global aviation community is moving forward to share data that will improve aviation safety across borders.”
GSIE will provide a framework for identifying what safety information could be shared, how to communicate it, and the mechanisms for the actual exchange of information. The participants will not exchange confidential or protected information but will focus on findings from broad studies and analyses.
This agreement grew out of a commitment first formed during the ICAO High Level Safety Conference in March, which focused on the need for greater transparency in data sharing. 
“The increasing number of flights worldwide requires that we as a global aviation community acquire, share and analyze safety data so that we have more data points to predict and mitigate risk,” said Randy Babbitt, administrator of the Federal Aviation Administration (FAA).

A steering committee will identify the relevant safety information and determine how the information will be shared.
This agreement builds on the work of the U.S. Commercial Aviation Safety Team (CAST) which, along with new aircraft, regulations and other activities, has reduced the fatality risk for commercial aviation in the United States by 83 percent from 1998 to 2008. CAST is now moving beyond the “historic” approach of examining past accident data to a more proactive approach. The FAA’s Aviation Safety Information Analysis and Sharing (ASIAS) program ties together 46 U.S. safety databases across the industry and is integrated into the CAST process. For more information, go to http://www.faa.gov/news/fact_sheets/

FORBES : Commentary.- The Myth & Mistake Of Quantitative Easing. Sept. 28th., 2010



The Myth And Mistake Of Quantitative Easing
Brian S. Wesbury and Robert Stein
Now that fair-value accounting rules have been corrected, there is no further justification for it.

Too Soon To Call For Asian Decoupling
Arpitha Bykere
Until Asia expands its domestic demand and internal trade, the region's economic fate will remain tied to the U.S. and E.U.
Battle For Preeminence
Lee Kuan Yew
President Obama has decided to reestablish U.S. power and influence in East Asia and the Pacific.
Why Did Alan Give Dollar the Bird?
Steve Forbes
What is one to make of Alan Greenspan's recent remarks regarding gold?
Restaurants: Go, Consider, Stop
Steve Forbes
Edible enlightenment from our eatery experts and colleagues Richard Nalley, Monie Begley and Chef Jeff Lamperti, as well as brothers Bob, Kip and Tim.

MarketWatch : Special Financial Services.- The Technical Indicator: Staking out the U.S. markets’ next target . Sept. 28., 2010 .

MarketWatch
SPECIAL FINANCIAL SERVICES)
 
The Technical Indicator: Staking out the U.S. markets’ next target
 
By Michael Ashbaugh MarketWatch


Following a nearly straight-line September spike, the S&P 500 has reached its latest technical checkpoint. 


 
By Alistair Barr MarketWatch


Investment bank Moelis & Co. gets into the $1.8 trillion hedge-fund business with the acquisition of Gracie, a $2 billion firm focused on credit trading. 


 
By Shawn Langlois MarketWatch


Endo shares rally to a three-year high after the company says it will buy a generic drug maker for $1.2 billion. 


 
By Sam Mamudi MarketWatch
9/28/2010 11:14:50 AM



M&T Bank leads financial stocks lower, extending the prior session’s decline. 





F & F I N : Conference Board reports consumer confidence falls to 48.5 in September, lowest level since February. Sept. 28th., 2010





Consumer Confidence
Consumer Confidence Slips Driven by deteriorating labor market and business conditions, consumer confidence dropped to 48.5 in September, the lowest levels since February.

FOX Business: THE POWER TO PROSPER

Lacking Confidence, Markets Retreat

Spooked by the worst consumer confidence report in seven months, Wall Street suffered a pullback.

Home Prices Dip in July

The S&P/Case Shiller home price composite index of 20 metropolitan areas declined 0.1%.

Fed Mulls Smaller Bond Buying Plan

Officials are weighing a more open, smaller-scale bond buying program compared with 2009.

Ireland Faces Deeper Credit Downgrades

Two more credit rating agencies warned the country its debt is at risk of further downgrades.

SEC: Report will Bring Confidence

Mary Schapiro said the flash crash report shows the commission's deep understanding of markets.





RTTNews: Daily Market Analysis.- Traders Look Ahead With Hope To Consumer Confidence Data . Sept. 28th., 2010

Daily Market Analysis Tue Sep 28 09:21 2010 

Sep 28, 2010 Traders Look Ahead With Hope To Consumer Confidence Data - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a higher opening on Tuesday, with sentiment likely to remain guarded ahead of the release of the consumer confidence report. Economic data from across the Atlantic has been encouraging, with Germany reporting strong consumer confidence reading, while earlier in the day the Asian Development Bank gave an upbeat commentary on growth in developing Asian countries. Depending on how the U.S. consumer confidence index comes in, the markets may see a bounce or a retreat, although range bound trading is most likely. Full Article

RTTNews : Morning Busines News: Stocks May Move Back To The Upside At The Open - U.S. Commentary. Sept. 28th., 2010

Morning Market Briefing Tue Sep 28 09:01 2010 

Commentary

Sep 28, 2010 Stocks May Move Back To The Upside At The Open - U.S. Commentary After giving back some ground in the previous session, stocks may move back to the upside in early trading on Tuesday. The major index futures are currently indicating a modestly higher open for the markets, with the Dow futures up by 20 points. Full Article

Economic News

Sep 28, 2010 U.K. Q2 GDP Growth Accelerates As Estimated The British economy recorded its fastest expansion since 2001 during the second quarter of this year as estimated in August. Full Article
Sep 28, 2010 Emerging Asia's Recovery 'More Robust Than Thought' Asia's developing economies are likely to grow at a faster pace than previously thought, the Asian Development Bank said on Tuesday. The bank attributed the optimism to the region's strong export-based recovery, robust private demand, and the sustained effects of stimulus policies. Full Article
Sep 28, 2010 German Consumer Optimism Surges German consumers are becoming more optimistic about the future, a new survey has suggested. The report continues the recent string of impressive economic reports from Germany and further cements the country's position as the leading economic power of Europe. Full Article

Earnings News

Sep 28, 2010 Jabil Circuit Q4 profit soars, beats Street; guides Q1 earnings above estimateMonday, Jabil Circuit, Inc. (JBL) reported a sharp climb in its fourth-quarter profit, as revenue grew 38% and margin improved amid stabilizing demand. Adjusted earnings per share came in above the Street view, but revenue fell short of estimates. Looking ahead, the company provided earnings guidance range for the first quarter, with the current estimate of analysts at low end of the range. However, Jabil guided the quarterly revenues to come in below the consensus forecast. Full Article
Sep 28, 2010 Paychex Q1 profit climbs 7%, beats consensusMonday, Paychex Inc. (PAYX) reported a 7% rise in first-quarter profit, reflecting a 4% growth in revenues. Both earnings and revenue came in above the Street view. Looking ahead, the company expects net income to improve slightly over fiscal 2010. Full Article
Sep 28, 2010 Walgreen Q4 profit up 7.8%, beats StreetTuesday, Walgreen Co. (WAG) reported a 7.8% rise in profit for the fourth quarter, as sales grew 7.4% from last year. Earnings per share came in above the Street view, as did revenues. Comparable store sales grew 1.5% year-over-year. The company also noted that gross margin for the period expanded 70 basis points to 28.4%. Full Article

Corporate News

Sep 28, 2010 Endo Pharma to buy private firm Qualitest for $1.2 bln cashTuesday, Endo Pharmaceuticals Holdings Inc. (ENDP) agreed to buy Qualitest Pharmaceuticals for $1.2 billion in cash attempting to diversify its business and to become a stronger player in the generic and pain drug markets. The company expects the deal, which would close in the fourth quarter of 2010 or in the following quarter, to add to its adjusted earnings in the first full year after close. Further, Endo also maintained its fiscal 2010 outlook. Full Article
Sep 28, 2010 Aegon to shutter 2 more U.K units, slash jobsTuesday, Aegon N.V. (AEG) said it intends to close two of its businesses and eliminate certain senior management jobs in the U.K, in order to curtail costs by 25%. The company would wind up its third party pension administration and employee benefits software businesses by 2011 end. Full Article
Sep 28, 2010 Pfizer says its prostate cancer drug fails late-stage trialMonday, Pfizer Inc. (PFE) said it is discontinuing a late stage study of its advanced prostate cancer drug Sutent or sunitinib malate, after it did not see it prolonging the overall survival of patients. The company also revealed that it observed new or unexpected safety issues with Sutent. Full Article
Sep 28, 2010 Research In Motion unveils tablet computer PlayBookMonday, Research In Motion Ltd. (RIMM) unveiled its new tablet computer, the BlackBerry PlayBook, but said that consumers have to wait till early 2011 for the commercial release. The company also did not reveal the price of the product. Full Article

Broker Ratings Changes

Sep 28, 2010 KeyBanc Capital Markets Upgrades Las Vegas Sands Corp. (LVS) To HOLD From UNDERWEIGHT With $35.10 Price Target

Todays WS Events

Sep 28, 2010 JC Penney To Participate In Telsey Consumer Conference At 1:00 PM ET J. C. Penney Company, Inc. (JCP) will present at the Telsey Advisory Group Consumer Conference, on September 28, 2010. The event is scheduled to begin at 1:00 PM ET o access the live webcast, log on at www.jcpenney.net
Sep 28, 2010 Biogen Idec Hemophilia R&D Roundtable At 1:00 PM ET Biogen Idec Inc. (BIIB) will host a Hemophilia R&D Roundtable, on September 28, 2010. The event is scheduled to begin at 1:00 PM ET. To access the live webcast, log on at investor.biogenidec.com
Sep 28, 2010 Hewlett-Packard Securities Analyst Meeting At 4:00 PM ET Hewlett-Packard Company (HPQ) will host its Securities Analyst Meeting. The event is scheduled to begin at 4:00 PM ET, September 28, 2010. To access the live video webcast, log on to www.hp.com/investor/sam2010
Sep 28, 2010 Equity Residential To Present At The Bank Of America Merrill Lynch Global Real Estate Conference; WeEquity Residential (EQR) will present at the Bank of America Merrill Lynch Global Real Estate conference on September 28, 2010. The event is scheduled to begin at 4:05 PM ET. To access the webcast, log on at www.equityapartments.com
Sep 28, 2010 Jabil Q4 10 Earnings Conference Call At 7:45 AM ET Jabil Circuit Inc. (JBL) will host a conference call at 7:45 AM ET, to discuss Q4 10 earnings results, on September 28, 2010. To access the live webcast, log on at www.jabil.com To hear the live call, dial (800) 837-7537 or (706) 634-1268 (International) with Conference ID# 11901025. A replay of the call can be heard by dialing (800) 642-1687 or (706) 645-9291 (International) with Conference ID# 11901025.

FINANCIAL & FOREX INFO NEWS : Reuters - Before The Bell.- Index futures rise ahead of confidence data. Sept. 28th., 2010





Index futures rise ahead of confidence data
Dudley faces delicate task in rebuilding BP
SEC says flash crash report will bring confidence
Facebook IPO likely after late 2012: board member
Rating agency warnings deepen Irish crisis
JPMorgan may pursue FDIC funds for WaMu claims: report
BOJ divided on need to ease policy next week
Consumer lender Takefuji fails owing $5.1 billion
UPS eyeing China domestic parcel service market: report
Women managers paid less than male counterparts

wsj : India News Update



September 28, 2010 -- 5:00 p.m.

India Court to Allow Holy Site Verdict
India's Supreme Court cleared the way for a verdict to be issued in a controversial case over whether Hindus or Muslims have rights to a disputed site in Uttar Pradesh.

CIA Steps Up Drone Strikes
In an effort to foil a suspected terrorist plot against European targets, the CIA has ramped up missile strikes against militants in Pakistan's tribal regions.

Authors Feel Pinch in Age of E-Books
The digital revolution that is disrupting the economic model of the book industry is having an outsize impact on the careers of literary writers.

Tactics on Karzai Brothers Diverge
While federal prosecutors in New York try to build a corruprtion case against Afghan President Hamid Karzai's elder brother, U.S. officials are still wrestling with how to deal with another Karzai sibling.

Disinvestment to Help India Meet Budget Aim
India expects stake sales in three of the country's biggest state-run companies to help it meet this fiscal year's disinvestment revenue target of 400 billion rupees ($8.9 billion.)
Go to Page  MOST POPULAR
Perhaps Gasoline's Finest Hour
The looming takeover of hybrid and electric cars means we have to be on the lookout for the best ever to be powered by gas alone, says Dan Neil?and he makes the case for Audi's new droptop supercar.

Dell Teases Its Next Tablet
Michael Dell unveiled his company's second tablet computer Wednesday, a device with a seven-inch screen that joins the list of competitors for Apple's iPad.

Tim Sulllivan and Michael Mazza: The Next Nuclear Arms Race
China and India are raising the stakes by modernizing and deploying more forces along their shared border.

Games Photo Diary
Snapshots of the day's events at the Commonwealth Games 2010 being held in New Delhi from Oct. 3.

A Perfect Day
If money?and location?were no object, how would you spend a perfect day of luxury? From golf to yoga to lunch on a private yacht, here are our picks for some of the best (and priciest) options on offer in Asia.
 
Go to Page  India Real Time
India Hedge Funds Beat Sensex but Investors Beware
India-focused hedge funds are among the better performing hedge fund groups so far in 2010 and have produced nearly double the returns of the benchmark Sensex this year.

Babri Masjid Verdict Now on India
The Supreme Court has thrown the ball into the Allahabad High Court. It, in turn, is about to throw the ball into the Indian people's court, where the real verdict on the Babri Masjid will be written.

Cement Prices, Stocks Bounce On Demand Hopes
Cement's traditional season of gloom is over. The monsoon rains, which lash across the country from June to September, are beating a retreat and investors are getting back into cement stocks.

Games Now Face Familiar Indian Foe: Paperwork
After construction miscues and a range of other setbacks, the Commonwealth Games are now up against a challenge many Indians can identify with: paperwork delays.

Games Lanes Try to Improve on BRT
From now until the end of the Commonwealth Games on Oct. 14, Delhi commuters will have to be careful not to use special lanes set aside for athletes traveling to competitions and V.I.P.'s traveling to watch them. Another reason to be annoyed at the Games.