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Oct 11, 2010
The Australian Business | Latest Busines News.-12:24pmDollar lower on US stimulus wait. Oct. 11th .,2010 ., 20:40 p.m.
THE AUSTRALIAN BUSINESS
»click here to see the latest top stories from CNBC.com
October 11, 2010
Happy Columbus Day!
Although the markets do not have the day off like some of you, this is traditionally a quiet day on the Street, at least in terms of economic events. For me, it’s an exciting and anything-but-quiet day because I have the honor of serving as the Grand Marshal of the New York City Columbus Day Parade.
As you may remember, I participated in the festivities last year, too. The parade dates all the way back to 1929 and is the world’s largest celebration of Italian-American culture, with more than 35,000 marchers and nearly one million spectators.
This year’s theme is “Honoring Old Glory,” and the event will also pay tribute to some big names in the business world, including CEO of JP Morgan Chase Frank Bisignano and Jason DeSena Trennert, founder of Strategas Research Partners.
Things will pick back up on Tuesday, as this is the first full week of earnings season. Let’s talk more about that and other items the Street will be watching this week in the video below.
THIS WEEK ON THE STREET
Personal Finance Daily
OCTOBER 11, 2010
Monday's Personal Finance stories
Don't miss these top stories:
- Retirement income for life
- Tools to build a bulletproof retirement portfolio
- Know when to dump a losing fund
- Don't sweat a dividend tax hike
- The 2011 Honda Accord: Appeal still there
And once you retire, the demands on your money don't go away, they just change. How much of that money do you want to leave to your kids? How much will you need for yourself to survive until the end? Can you still afford to travel? These are not easy questions to answer. But read Robert Powell's two stories today to get some insight into what your options are in terms of financial products to help you meet your goals, and how to best choose among them.
—Andrea Coombes , Personal Finance editor
Retirement income for life
There was a time when a retiree didn't need to worry about balancing the need to leave an inheritance with the need to have guaranteed income for life with the need to enjoy a decent standard of living.
Read more on retirement income for life.
Tools to build a bulletproof retirement portfolio
Time was when withdrawing 4% per year from your portfolio was the strategy of choice for those in retirement. But that strategy had and still has many shortcomings, according to those who study the world of retirement-income planning.
Read more on tools to build a bulletproof retirement portfolio.
Annuities: the pros and cons
Annuities promise money for life, but that guarantee may come at a steep cost. MarketWatch's Andrea Coombes talks with two financial planners about the good, the bad and the ugly of annuity products.
Watch video on annuities: the pros and cons.
Know when to dump a losing fund
One of the big questions mutual fund shareholders can face is how long to put up with a struggling manager.
Read more on know when to dump a losing fund.
Dollar slump drives emerging markets, gold ETFs
Activity in exchange-traded funds that target emerging markets, precious metals and commodities is ramping up as investors seek ways to protect their portfolios from a sagging U.S. dollar.
Read more on dollar slump drives emerging markets, gold ETFs.
Chinese IPOs line up to woo U.S. investors
Emboldened by a spate of successful deals and eyeing U.S. investors hungry for high returns, a greater number of Chinese companies are expected to come knocking on the door of U.S. markets in the coming months.
Read more on Chinese IPOs line up to woo U.S. investors.
Don't sweat a dividend tax hike
There are many things to get worked up about as the midterm elections approach, but an imminent hike in dividend taxes isn't one of them.
Read more on don't sweat a dividend tax hike.
2011 Honda Accord: Appeal still there
For model year 2011, the exterior styling of the Accord was given what auto makers like to call a "refresh." Ever wonder what that was?
Read more on the 2011 Honda Accord: Appeal still there.
Google's experimenting with cars that drive themselves
Google Inc., the specialist in helping people find stuff on the Web, is now searching for safer streets by developing and road-testing cars that drive themselves.
Read more on Google's experimenting with cars that drive themselves.
ECONOMY & POLITICS
Social Security fuels election-season fight
The House's No. 2 Republican and a vice chair of the Democratic National Committee traded sharp barbs over the future of Social Security on Sunday, days ahead of an expected announcement that recipients won't get an increase in benefits next year.
Read more on Social Security fuels election-season fight.
Health-care repeal an uphill battle for GOP
Republicans will have a tough time rolling back the landmark health-care law Congress enacted earlier this year if the party retakes the House of Representatives in the fall elections, but stocks in the sector stand to make gains nonetheless.
Read more on health-care repeal an uphill battle for GOP.
Stalled Fed nominee shares economics Nobel
Peter Diamond, an economist nominated by President Barack Obama to serve on the Federal Reserve's board of governors, was one of three people to win this year's Nobel Prize in economics.
Read more on stalled Fed nominee shares economics Nobel.
Nobel for explaining why markets fail
Three economists — including one rejected by the Senate as too inexperienced to work at the Federal Reserve — have won the Nobel prize in economics for their work in explaining why markets sometimes don't work so well.
Read more on Nobel for explaining why markets fail.
Top forecaster was right about housing
Few people saw the housing bubble as clearly and in as much detail as economist Richard DeKaser, who created a city-by-city housing valuation index that showed precisely how overvalued the nation's housing stock was in 2005 and 2006.
Read more on top forecaster was right about housing.
Business economists cut growth forecast
A group of top business economists cut their forecast Monday for U.S. growth through 2011, saying high debts and a decline in the nation's wealth would inhibit spending and investing.
Read more on business economists cut growth forecast.
Regulators try to plan for next ‘too big to fail'
Major banking countries must cooperate in a global effort to ensure that a collapse of a big bank does not cause the kind of collateral damage seen after the failure of Lehman Bros. in 2008, key U.S. and U.K. regulators said Monday.
Read more on regulators try to plan for next too-big-to-fail.
IMF moves to referee currency debate
The International Monetary Fund moved Saturday to become the referee of the growing dispute between the richest countries and emerging market economies over whose currencies should bear the weight of the global recovery.
Read more on IMF moves to referee currency debate.
|Evening Market Wrap||Mon Oct 11 17:01 2010|
Oct 11, 2010 Stocks Close Nearly Flat Amid Light News Day - U.S. Commentary Stocks showed a lack of direction throughout the trading session on Monday, with traders reluctant to make any significant news amid a light news day. The major averages bounced back and forth across the unchanged line before ending the day nearly flat. Full Article
Oct 11, 2010 Eli Lilly's Alimta Fails In Head And Neck Cancer Trial - Update Healthcare company Eli Lilly and Co. (LLY) Monday stated that its global Phase III trial evaluating Alimta (pemetrexed for injection) in combination with cisplatin in patients with recurrent or metastatic squamous cell cancer of the head and neck (SCCHN) did not meet its primary endpoint. The company also said that it will not be submitting marketing authorization applications for Alimta in SCCHN with either the U.S. Food and Drug Administration or the European Medicine Agency or EMA. Full Article
Oct 11, 2010 Ford Sales In Asia Pacific, Africa Rise 27% In September - Update Automaker Ford Motor Co. (F) on Monday reported a 27% increase in sales in the Asia Pacific and Africa region for the month of September, bolstered by continued strong growth in China and India as well as launch of the new Ford Fiesta subcompact in Southeast Asia. Full Article
MergersOct 11, 2010 Gymboree To Be Taken Private By Bain Capital For $1.8 Bln Cash Children's clothing retailer Gymboree Corp. (GYMB) has agreed to be acquired by affiliates of private-equity firm Bain Capital Partners, LLC for $65.40 per share, or $1.8 billion in cash. The deal announced Monday has the unanimous approval of Gymboree's Board, and is expected to close by year end. Full Article
By NICK BILTON
Microsoft introduced the final details of its new mobile operating system, Windows Phone 7.
By JANE L. LEVERE
While many hotels are holding onto their cash as revenue slips, some are spending on upgrades in the hope of gaining market share when the recovery comes.
By JAMES KANTER
The European Union's transport chief says U.S. airlines could be exempted if Washington takes measures to reduce greenhouse gas emissions at home.
By CHRIS V. NICHOLSON
It is the largest Chinese purchase of U.S. energy assets ever and the latest in a string of similar deals by Beijing around the world.
Under the deal, Gymboree shareholders will get $65.40 a share in cash, a premium of 57 percent to Gymboree's share price on Sept. 30, before reports of a buyout emerged.
F & F I N (FINANCIAL & FOREX INFO NEWS) .- REUTERS - DAILY INVESTOR UPDATE.- Wall Street ends flat on thin volume before earnings. Oct. 11th., 2010.
FROM : REUTERS - DAILY INVESTOR UPDATE
Most Viewed Articles on washingtonpost.com
KABUL - British Prime Minister David Cameron said Monday morning that Linda Norgrove, a 36-year-old British aid worker who was taken captive in Afghanistan last month, may have been accidentally killed during a rescue attempt by U.S. Special Operations Forces.
The White House intensified its attacks Sunday on the powerful U.S. Chamber of Commerce for its alleged ties to foreign donors, part of an escalating Democratic effort to link Republican allies with corporate and overseas interests ahead of the November midterm elections.
It's when one side in a debate overwhelms a political system with clandestine cash, which is what's happening.
The Redskins made high-profile changes at the top, but the team's recent success is coming because of improvement deeper down the roster, from new players contributing to more established players being transformed.
The two men, both in their 20s, were friends and longtime Montgomery County residents who had gone to high school together. One was a wine salesman, and the other worked for the FBI.
To understand how Mike Shanahan is pulling off this smoke-and-mirror job, you needed to be in the locker room Sunday afternoon before dusk. That's where London Fletcher stood in a circle of dried sweat and fresh blood, some still seeping from Kedric Golston's finger onto his game pants.
When Senate candidate Christine O'Donnell appeared on Sean Hannity's Fox News program, he read her some advice from another Fox commentator, Sarah Palin.
International bank regulators are planning a fresh wave of rules for the world's most important financial companies in an effort to ensure that firms considered "too big to fail" are better protected from collapse - and that taxpayers are insulated from the fallout if they do.
Sen. Barack Obama's presidential campaign is allowing donors to use largely untraceable prepaid credit cards that could potentially be used to evade limits on how much an individual is legally allowed to give or to mask a contributor's identity, campaign officials confirmed.
BEIJING - On a recent morning, Danille Drake flipped on her computer and sat down to wait in the home office of her two-story Bethesda house. As the screen flickered to life, she explained how she has spent her whole career learning and practicing the teachings of Sigmund Freud. And how, for dec...
F & F I N
FROM : FOX BUSINESS
Hoenig: Time to Move RatesEXCLUSIVE Kansas City Fed President Thomas Hoenig on how to adjust the markets to boost economic recovery and prevent inflation.
- Hoenig: Fed Needs to Act 'Cautiously'
- WATCH Ron Paul on the Federal Reserve
- Fed Not Worried About Money Printing
They're Burning Your Money Angus Contractors President Frank Zettle on the lack of new projects and jobs from government stimulus.
WATCH FBN's Liz MacDonald explores who owns U.S. debt and how it threatens our national security.
WATCH FBN's Liz MacDonald explores who owns U.S. debt and how it threatens our national security.
MarketWatch: Special Financial Services: Regulators try to plan for next too-big-to-fail .- Oct .11th., 2010
SPECIAL FINANCIAL SERVICES
Regulators try to plan for next too-big-to-fail
By Ronald D. Orol MarketWatch
FROM: THE WALL STREET JOURNAL
|DJ Total Stock Market||12208.53||12.33||0.10|
F & F I N : Reuters - US top Early Edition.-China's Liu says Nobel for dead of 1989. Oct. 11th., 2010
TOP STORIES | Monday , 11 Oct 2010
|Westgold Resources has completed its scoping study on the 1 million gold equivalent ounce Rover 1 project and says further expansion is likely Monday , 11 Oct 2010|
|Spot silver hit another 30-year high while gold remained firm after the US said it shed jobs for the fourth straight month Monday , 11 Oct 2010|
|Citi expects medium-term gains for both base and precious metals, anticipating that silver could outperform gold. Monday , 11 Oct 2010|
|South Africa's Standard Bank will act as first metal provider, participating dealer and market maker for a Hong Kong based firm that plans to launch a gold ETF in early November Monday , 11 Oct 2010|
|As investor demand for access to gold markets increases rapidly, both Lion Fund Management Co and E Fund Management Co have submitted applications to launch funds that invest in overseas gold-related products Monday , 11 Oct 2010|
|Kaiser Bottom-Fish Report writer John Kaiser looks for ‘ounces-in-the ground' gold juniors as his top growth picks as the metal price continues to move upwards. Monday , 11 Oct 2010|
|While some top financiers disagree on gold's future, some big investors and Central Banks are still piling in to build their holdings. Sunday , 10 Oct 2010|
|The recent World Gold Investment Congress in London saw James Turk reiterate his very bullish views on gold, amidst some support from other panellists Saturday , 09 Oct 2010|
SPECIAL FINANCIAL SERVICES
Earnings, IMF and Fed in the spotlight
Asian markets rise; Shanghai leads again
By V. Phani Kumar MarketWatch