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Nov 12, 2010

From The Desk Of Nick Nicolaas: Zeal Intelligence Newsletter



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MarketWatch: Personal Finance Daily.- Social Security cuts: Sooner easier than later.

MarketWatch

Personal Finance Daily
NOVEMBER 12, 2010

Friday's Personal Finance stories

By MarketWatch



Don't miss these top stories:
Social Security is on an unsustainable path, and U.S. retirement savers aren't doing all that well with their 401(k)s — if they're lucky enough to even have access to such a savings plan through their employer.

And yet, despite all that, the glass is still half-full for many Americans. The Social Security situation won't be that painful — if lawmakers put the necessary changes in place gradually, sooner rather than later, and focus benefit-cutting on the people who can best afford them. And if retirement savers can learn to ramp up the portion of their earnings they set aside each paycheck, that will go a long way to improving the nation's retirement outlook.

Read Robert Powell's latest column for a look at the proposed cuts to Social Security, and why many retirement experts applaud those proposals. Plus, don't miss Jonathan Burton's Weekend Investor column to find out why gold is a bad investment.

When it comes to worrying, we should really focus on the people who work minimum-wage jobs they're whole life — how do you put money aside for retirement when you make less than $10 an hour? And then there's the question of the nation's oldest people, who may outlive their savings. Those are precisely the two groups that the president's deficit commission leaders pointed to as needing protection from Social Security benefit cuts.

We'll have to wait until Dec. 1 to see what the commission's final plan looks like and then we'll have to wait even longer to see how politicians respond. And therein lies the rub. The longer Washington punts on this issue, the more painful it will be for all of us.

Andrea Coombes , Personal Finance editor

RETIREMENT

Cut Social Security benefits? Yes, some say

There are three basic ways to save the Social Security. We can cut benefits, raise revenue, or do a combination of the two.
Read more: Cut Social Security benefits? Yes, some say.


Cuts would hit 20-year-olds

President Obama's deficit-reduction commission leaders are proposing a slew of changes to Social Security, including benefit increases for some people. But most people in their 20s and younger today would see benefit cuts compared to what they'd get under current law, if the proposals are adopted. MarketWatch's Andrea Coombes reports.
 Video: Social Security cuts would hit 20-year-olds.


INVESTING

Why gold is a bad investment

Gold does not always glitter, but you wouldn't know that from surging worldwide interest that has turned the yellow metal red-hot.
Read more: Why gold is a bad investment.


Gold's rise may end badly for investors

Many investors expect gold to protect their portfolio from economic uncertainty, but gold's recent sharp rise is being fueled by speculation that could end badly for buyers, says Kurt Brouwer, editor of MarketWatch's FundMastery blog.
 Video: Gold's rise may end badly for investors.


CREDIT SCORES

Fed unveils credit-score guide ahead of new rules

The Federal Reserve unveiled an online consumers' guide to credit scores and credit reports. The straight-forward guide includes the basics: What a credit score is, how it is used and why it is important to protect your credit history.
Read more: Fed unveils credit-score guide ahead of new rules.


HEALTH CARE

The new Medicare rules

Coming changes to Medicare will benefit some recipients—but make coverage more expensive for people with higher incomes.
Read more: The new Medicare rules.


Insurer exits long-term care market

MetLife Inc. said it will halt sales of long-term-care insurance, a type of coverage that repeatedly has flummoxed insurers and forced some to pay significantly more in claims than they expected.
Read more: Insurer exits long-term care market.


FAMILY FINANCE

Set your kid on the path to riches

On Children's Day this Sunday, here's a precious gift idea for your kids -- start making them more financially responsible.
Read more: Set your kid on the path to riches.

REAL ESTATE

How to keep condo board members honest

The developer of a five-building condo complex also owns some of the buildings' rental units — and sits on the association's board of directors. Plus, the association's fee structure is odd. Is something fishy going on? Lew Sichelman offers his insights in Realty Q&A.
Read more: How to keep condo board members honest.


Fed official calls for more mortgage modifications

The home finance industry is falling down on the job and must take steps to increase the rate of mortgage modifications relative to foreclosures, a federal regulator said Friday.
Read more: Fed official calls for more mortgage modifications.


Home prices decline in nearly half of metro areas

Home prices fell in nearly half of U.S. metropolitan areas in the third quarter, indicating that the market is losing steam without government tax credits, according to an industry report.
Read more: Home prices decline in nearly half of metro areas.


ECONOMY & POLITICS

U.S. consumer sentiment edges up in November

Continuing a string of better-than-forecast economic indicators, a gauge of U.S. consumer sentiment edged up in November, according to a report released Friday.
Read more: U.S. consumer sentiment edges up in November.


Commentary: Is Sarah Palin right about inflation?
Sarah Palin has been the butt of plenty of jokes. But when it comes to inflation, she may be about to look quite prescient.
Read more: Is Sarah Palin right about inflation?


Difficult to define Volcker Rule: Fed official

A Federal Reserve official on Friday expressed trepidation about the agency's task of writing rules to limit bank proprietary trading.
Read more: Difficult to define Volcker Rule: Fed official.


Emigration soars as Irish look for way out

With unemployment soaring and an economy on its knees, thousands of Irish people are taking the drastic step of emigrating in search of better opportunities.
Read more: Emigration soars as Irish look for way out.


Commentary: Irish folly leaves gaping hole in Chicago

The grand plan to build the hemisphere's tallest building in Chicago is dead, a victim of the great recession and Ireland's financial crisis.
Read more: Irish folly leaves gaping hole in Chicago.


Commentary: Business climate is dead in America

So I am at a fund-raising event and a comedian on stage finishes his act with an homage to the USA. For some unknown reason, he says that one of the great things about this country is our low taxes. "We have the lowest taxes in the world — that is a fact, and that's one of the reasons we are so great." I was flabbergasted.
Read more: Business climate is dead in America.


MORE INVESTING

Commentary: If the world goes gold...

Gold briefly broke through $1,400 an ounce on Tuesday–and if comments from the head of the World Bank are any guide, maybe investors should keep buying.
Read more: If the world goes gold...


Commentary: Mad gold pitch is a sign of the times

World Bank president Robert Zoellick's suggestion of a return to the gold standard serves as a reminder that many in the policy-making world often confuse markets with policy-making and economic realities.
Read more: Mad gold pitch is a sign of the times.


Playing the volatile mining sector in Europe

For those uneasy with more than a week's worth of volatility, there is perhaps no worse place to be invested these days than in stocks linked to the price of metals.
Read more: Playing the volatile mining sector in Europe.


Drilling challenges slowly reshape oil exploration

More than six months after the Deepwater Horizon drilling rig sank, resulting in an estimated release of nearly 5 million barrels of crude oil into the Gulf of Mexico, regulations have tightened and the industry is just getting a taste of the potential changes and challenges ahead.
Read more: Drilling challenges slowly reshape oil exploration.


THE JOB MARKET

CB Richard Ellis is hiring

"Hiring" and "real estate" aren't terms that you see together very often these days, unless you're reading about foreclosuregate.
Read more: CB Richard Ellis is hiring.

CNBC Evening Brief: GM IPO Draws $60 Billion in Orders



LATEST STORIES


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LATEST VIDEO

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Traders Dump Stocks On Worries About China - U.S. Commentary .- RTTNews - Evening Market Wrap


Evening Market Wrap Fri Nov 12 17:06 2010

Commentary

Nov 12, 2010 Traders Dump Stocks On Worries About China - U.S. Commentary Stocks closed out the week notably lower on Friday, as traders dumped stocks amid the prospects of further monetary tightening by China. An early slide looked to be momentarily alleviated by an upbeat report on consumer sentiment, but stocks eventually extended their downward trend. Full Article

Economic News

Nov 12, 2010 U.S. Consumer Sentiment Sees Notable Improvement In November Sentiment among American consumers has seen a notable improvement in the month of November, according to a report released by Reuters and the University of Michigan on Friday, with the increase largely reflecting a more positive assessment of current economic conditions. The report showed that the consumer sentiment index rose to a reading of 69.3 in November from the final October reading of 67.7. Economists had been expecting the index to increase to a reading of 69.0. Full Article
Nov 12, 2010 IEA Ups 2010 Oil Demand ForecastThe International Energy Agency upwardly revised its global oil demand forecast based on higher-than-expected third quarter 2010 readings in the OECD and and slightly stronger readings in the non-OECD. The IEA, in its monthly Oil Market Report released today, said that global oil demand will grow by 0.2 million barrels per day, or mbd, to 2.3 mbd in 2010. However for 2011, growth is set to slow to 1.2 mbd year-on-year, with demand averaging 88.5 mbd versus 87.3 mbd in 2010, it noted. Full Article

Corporate News

Nov 12, 2010 Agilent Technologies Profit Surges; Tops ViewScientific instruments maker Agilent Technologies Inc. (A) Friday reported a nine-fold rise in fourth-quarter profit, as revenue jumped 35% from last year and orders grew 32%. Adjusted earnings surpassed Wall Street estimates. Further, the company issued a robust outlook for the first quarter as well as full year. Full Article
Nov 12, 2010 JC Penney Profit Climbs; Backs Earnings ForecastDepartment stores operator JC Penney Co. Inc. (JCP) reported Friday a 63% rise in profit for the third quarter, mainly reflecting lower expenses as well as higher comparable store sales. Quarterly sales increased marginally, but came in below market estimates. Further, the company provided its fourth-quarter earnings view, and backed fiscal 2010 forecast. Full Article
Nov 12, 2010 D.R. Horton Q4 Loss Narrows Despite Lower RevenuesHomebuilder D.R. Horton Inc. (DHI) on Friday reported a net loss for the fourth quarter that narrowed from last year, reflecting fewer charges that helped offset a decline in revenues. Homes closed in the quarter declined 11%, while net sales orders declined 21% amid continued soft demand after the federal government's homebuyer tax credit expried in April. Full Article
Nov 12, 2010 Rolls-Royce Provides Update On A380 Engine Part FailureDefense and aerospace company Rolls-Royce Group Plc (RR.L, RYCEY.PK) Friday said the board now expects underlying profit growth for the full year to be slightly lower than previous guidance due to the engine failure on the Trent 900 powered A380 Qantas flight QF32 on November 4. The jet engine manufacturer said it has identified the issue with the engine and would replace the module. Full Article

Political News

Nov 12, 2010 Poll Shows Mixed Reaction To Midterm Election ResultsWhile Republicans made substantial gains in last week's midterm elections, the results of a survey released by the Pew Research Center for the People & the Press on Friday showed a mixed reaction to the GOP retaking control of the House of Representatives. The survey found that 48 percent of Americans are happy about the Republicans' victory compared to 34 percent that said they are unhappy. Another 18 percent said that they don't know. Full Article
Nov 12, 2010 Supreme Court Refuses To Block "Don't Ask Don't Tell" During AppealDenying a request from gay rights group Log Cabin Republicans, the Supreme Court issued a ruling on Friday that leaves the "don't ask, don't tell" policy that prevents gays from serving openly in the military in place until the full appeals process is completed. The Log Cabin Republicans had asked the Supreme Court to lift a Circuit Court stay of a federal judge’s decision that found the policy to be unconstitutional and banned the Pentagon from applying it. Full Article
Nov 12, 2010 Americans Most Likely To Say Healthcare Law Goes Too FarAmericans are generally dissatisfied with the healthcare reform bill signed into law earlier this year, according to the results of a USA Today/Gallup poll released on Friday, with Americans most likely to say that the law goes too far. Full Article

Indexes end down and snap 5-week winning streak: F & F I N | Reuters- Daily Investor Update




Indexes end down and snap 5-week winning streak
GM has orders for $60 billion in stock: sources
Intel raises dividend and signals healthy growth
Fed official sounds buyout bubble alarm
G20 closes ranks but skims over toughest tasks
Consumer sentiment rises to highest since June
Rolls-Royce to fix A380 engine fault
Obama taps NC official to regulate Fannie and Freddie
Penney margins fall on discounting
Human Genome lupus drug draws questions; stock off

NYT: Afternoon Business News.- The Mirage of Lower Trade Imbalances


Off the Charts

The Mirage of Lower Trade Imbalances

By FLOYD NORRIS
What looked like smaller trade deficits and surpluses during the global recession only reflected the shrinkage in trade. As trade revives, so do those imbalances.

E.U. Seeks to Reassure Holders of Irish Bonds

By JAMES KANTER
France, Germany, Britain, Italy and Spain said rule changes being considered for future euro zone bailouts would not result in writedowns for investors.

Markets Fall on Concerns About Currency Fluctuations and a Slowdown

By CHRISTINE HAUSER
Declines occurred after world leaders meeting at the G-20 summit came up with an agreement that fell short of the White House's goals on targets for trade surpluses and deficits.
DealBook

New Director of Fannie-Freddie Oversight

By DEALBOOK
President Obama nominated Joseph A. Smith Jr., the banking commissioner in North Carolina, to head the agency that oversees the mortgage lending giants Fannie Mae and Freddie Mac.
DealBook

Icahn Raises Dynegy Stake and Offers Credit Line

By THOMAS KAPLAN
Carl C. Icahn's announcement ratchets up the increasingly ugly dispute between Dynegy and big shareholders who oppose Blackstone's bid.



The Washington Post Afternoon Edition: Most Read Articlesd: Obama, weakened after midterms, reveals limited leverage in failed S. Korea deal

Washington Post

Most Viewed Articles on washingtonpost.com

1) Obama, weakened after midterms, reveals limited leverage in failed S. Korea deal

SEOUL - President Obama's inability to secure a free-trade agreement with South Korea reveals in sharp relief the limits of his leverage overseas after a devastating midterm election.

2) Has Michael Steele helped or hurt the GOP?

As Republican celebrations of their midterm victories give way to plans to take back the White House in 2012, party leaders are asking themselves this question: Did the GOP succeed in last week's elections because of its charismatic but controversial chairman or in spite of him?

3) Why President Obama is right about India

The president's trip -- coconuts and all -- was worth every penny.

4) Pelosi for House minority leader: A bad idea or just what the Democrats need?

Pelosi's decision to hang on as leader of the House Democrats has surprised and confounded much of Washington. But many argue that her skills as legislator and fundraiser are just what the party needs now.

5) Scientists learn physics behind how cats drink water without getting wet

As all cat lovers know well, Felis domestica is a marvel of balance, subtlety and other hidden elegances.

6) Where's the Democrats' fighting spirit?

The White House has done much good why isn't it shoving back bullies who criticize its leadership?

7) How a cat drinks: Feline finesse and fluid dynamics

As all cat lovers know well, Felis domestica is a marvel of balance, subtlety and other hidden elegances.

8) Colo police investigate, protect pedophilia author

DENVER -- Police are investigating whether the author of a guide for pedophiles did anything illegal even as they try to protect him from a threat posted on a local website.

9) Foreclosure mess prompts growing number of public officials to slow down process

One month ago, the city of Chicago and the surrounding suburbs of Cook County became a foreclosure-free zone. It wasn't the banks or judges that instituted the moratorium, because they were still moving cases forward at a rapid clip. The holdup was elsewhere: at the sheriff's office.

 

10) Facebook woes hit T.C. Williams High School

T.C. Williams High School in Alexandria got a look at the downside of social networking in recent days, as school officials and police worked to get a Facebook page that included vulgar descriptions of female students taken down from the popular Web site.

Stocks Headed For Lower Open On China Growth Cap Worries - U.S. Commentary . RTTNews - Morning Market Briefing

Morning Market Briefing Fri Nov 12 09:01 2010

Nov 12, 2010 Stocks Headed For Lower Open On China Growth Cap Worries - U.S. Commentary Stocks are on pace for a moderately lower open on Friday amid concerns that China may be moving to further rein in its robust growth with additional tightening of its monetary policy. The major index futures are all in negative territory, with the Dow futures down by 47 points. Full Article

Economic News

Nov 12, 2010 German Economic Growth Slows Sharply Germany's economy recorded a sharp slowdown during the last quarter, official figures revealed on Friday, in line with analyst expectations. Full Article
Nov 12, 2010 Eurozone Q3 GDP Growth Weaker Than Expected Eurozone economic growth moderated more than forecast in the third quarter reflecting slowdown in all its major economies as many of them are undergoing fiscal squeeze. Full Article
Nov 12, 2010 U.K. Consumer Confidence Falls FurtherConsumer morale in the U.K. fell again in October as Britons turned more downbeat over their future prospects, a new survey suggested on Friday. Full Article

Earnings News

Nov 12, 2010 Wendy's/Arby's slips to loss in Q3Friday, Wendy's/Arby's Group, Inc. (WEN) reported a small loss for the third quarter, compared to profit last year, as both its brands had to face difficult market conditions. Sales for the quarter dipped 4.6% and came in below the Street view. The firm also noted that same-store sales declined 1.7% year-over-year. Full Article
Nov 12, 2010 J. C. Penney Q3 profit up 63%, beats StreetFriday, J. C. Penney Company, Inc. (JCP) reported a 63% rise in profit for the third quarter, helped mainly by a 3.8% decline in selling, general and administrative costs and a 23.3% drop in expenses related to a qualified pension plan. Earnings came in above the Street view, while revenue, which grew 0.2% from last year, fell short of estimates. Comparable store sales improved 1.9% year-over-year. The firm also noted that gross margin narrowed to 39.0% from 40.6%. Looking ahead, J.C. Penny provided earnings outlook for the fourth quarter and the full year. Full Article
Nov 12, 2010 Agilent Technologies Q4 profit soars on lower items, beats Street; guides Q1 above consensusFriday, Agilent Technologies Inc. (A) posted a big leap in its fourth-quarter profit, reflecting a 35% growth in revenue, as well as the absence of restructuring charges and litigation settlement that hit year-ago results. Adjusted earnings doubled from last year and came in above Street view, as did revenues. Orders for the quarter climbed 32% year-over-year. Looking ahead, the firm guided first-quarter earnings and revenue above the current estimate of analysts, and also provided outlook for fiscal year 2011. Full Article
Nov 12, 2010 Walt Disney Q4 profit declines 7%, misses consensusThursday, Walt Disney Co. (DIS) reported a 7% decline in profit for the fourth quarter, hit by a recognition of previously deferred revenues at ESPN and the impact of one lesser week of operations. Both adjusted earnings per share and revenue, which dipped 1% from the previous year, came in below the Street view. Full Article
Nov 12, 2010 Nvidia Q3 profit slides 21%; guides Q4 revenue above StreetThursday, Nvidia Corp. (NVDA) posted a 21% drop in its third-quarter profit, reflecting a 6.6% decrease in revenues, as well as higher costs. The prior-year results benefited from a one-time gain related to net charge arising from a weak die/packaging material set. Gross margin expanded year-over-year to 46.5% from 43.4% last year. Looking ahead, the firm guided fourth-quarter revenue above the current estimate of analysts. Full Article
Nov 12, 2010 SunPower Q3 profit rises; updates Q4, FY10 outlookThursday, SunPower Corp. (SPWRA) reported a 3.1% rise in profit for the third quarter, helped by growth in utility and power plant sales. Revenue for the quarter increased 18%, but gross margin declined to 20.4% from 21.5% last year. Looking ahead, the company also lowered its fourth-quarter adjusted earnings guidance. Full Article
Nov 12, 2010 DR Horton Q4 loss narrows on lower impairments, write-offsFriday, DR Horton Inc. (DHI) said its fourth-quarter loss narrowed from the previous year, helped by significantly lower inventory impairments and land option cost write-offs, as well as a decrease in cost of home sales. Homebuilding revenues declined 8.7% year-over-year. Meanwhile, the firm noted that net sales orders rose 14% from the prior-year quarter. Full Article

Broker Ratings Changes

Nov 12, 2010 FBR Capital Markets Downgrades Quiksilver Inc. (ZQK) To Underperform From Market Perform With $3 Down From $4 Price Target
Nov 12, 2010 KeyBanc Capital Markets Downgrades Crown Holdings Inc. (CCK) To Hold From Buy

Todays WS Events

Nov 12, 2010 Anadarko To Present At Bank Of America Conference; Webcast At 8:00 AM ET Anadarko Petroleum Corp. (APC) will present at the Bank of America Merrill Lynch Global Energy Conference in Miami, Fla. The event is scheduled to begin at 8:00 AM ET, November 12, 2010. To access the live webcast, log on to www.anadarko.com
Nov 12, 2010 D R Horton Q4 10 Earnings Conference Call At 10:00 AM ET D R Horton Inc. (DHI) will host a conference call at 10:00 AM ET, November 12, 2010, 2010, to discuss its Q4 10 earnings performance. To participate in the webcast, log on to www.drhorton.com To listen to the call, dial 877-407-8033. The replay can be heard by dialing 877-660-6853 with account #286 & ID #358322.
Nov 12, 2010 J. C. Penney Q3 10 Earnings Conference Call At 9:30 AM ET J. C. Penney Company, Inc (JCP) will host a conference call at 9:30 AM ET November 12, 2010, to discuss its Q3 10 financial results. To access the audio webcast, log on at jcpenney.net The call can also be accessed by dialing (877) 407-0778 (US) or (201) 689-8565 (International) and refer JCPenney Third Quarter Earnings Conference Call. For replay of the call, dial (877) 660-6853 with code 286 & ID 350564.
Nov 12, 2010 Amgen To Present At The Credit Suisse Conference; Webcast At 10:30 AM ET Amgen Inc. (AMGN) will present at the 19th Annual Credit Suisse Healthcare Conference, on November 12, 2010. The event is scheduled to begin at 10:30 AM ET. To access the live webcast, log on to www.amgen.com

F & F I N : Stock futures fall on Ireland debt, China rates concern | Reuters - Before The Bell



FROM: REUTERS - BEFORE THE BELL
Stock futures fall on Ireland debt, China rates concern
G20 closes ranks but skims over toughest tasks
D.R. Horton posts narrower loss
Pressure on Ireland eases after EU statement
Wendy's/Arby's posts small loss on weak sales
Airbus sees possible A380 delivery setback
Icahn ups Dynegy stake, offers $2 billion credit line
Disney's outlook rosy despite rare quarterly miss
Kuwait transfers 8 Boeing 787 orders to Saudi Arabia
Private banks keep hiring as rich get richer

Futures Rattled by China Rate Worries: MarketWatch .- Special Financial Services

MarketWatch
SPECIAL FINANCIAL SERVICES  
Indications: U.S. futures rattled by China rate worries
 
By Barbara Kollmeyer MarketWatch


U.S. stock futures decline sharply ahead of the Wall Street open, keying off losses for Asian shares after renewed tightening fears for China. 

G20 closes ranks but skims over toughest tasks : FINANCIAL AND FOREX INFO NEWS



FROM: REUTERS - MORNING DIGEST
G20 closes ranks but skims over toughest tasks
Iraq breaks impasse as Maliki to form government
Stock index futures signal lower open
Yahoo says report of 20 percent in layoffs "misleading"
Asia and Europe giving U.S. science a run for the money
Falcons swoop late to fly past Ravens
Michael Jackson duet with Akon set for release
German judge lets speeding drivers off the hook

NYT: Morning Business News: Wall St. Brings Its Misgivings to the World.



BUSINESS:


Start-Ups Follow Twitter, and Become Neighbors

By CLAIRE CAIN MILLER
Hoping some of Twitter's success will rub off on them, start-ups jostle to rent offices in the same San Francisco building.

U.S. and South Korea Fail to Agree on Trade

By SHERYL GAY STOLBERG and SEWELL CHAN
President Obama and South Korea's leader gave negotiators more time to work out differences over Korean imports of American autos and beef.

Wall St. Brings Its Misgivings to the World

By SEWELL CHAN
The daylong Seoul G-20 Business Summit led to an unusual juxtaposition of corporate and world leaders, with some businessmen expressing concern for criticism aimed at them.




FINANCIAL & FOREX INFO NEWS: Westpac follows NAB to hike rates




 

Westpac follows NAB to hike rates
Westpac UPDATE: Scott Murdoch WESTPAC joined banking's Big Four to lift lending rates today, just after NAB acted to also raise rates beyond Reserve Bank policy.
Stocks fall as dollar retreats in Asia
stockmarket SHARES closed weaker today after troubling economic news from around the world prompted profit-taking, and the dollar fell in Asia.
China-US impasse scuttles G20 pact
South Korea G20 Laurence Norman and Ian Talley THERE will be no pact on global trade imbalances at the Group of 20 summit because China and the US, or "G2", are locked in opposition.
TCI 'threats' dislodged Infigen chair
Infigen Energy UPDATE: Michael Bennet INFIGEN Energy chairman Graham Kelly resigned after threats to remove him by the group's biggest shareholder and London hedge fund, TCI.
Engine fix to clear way for A380s' return
qantas A380 Steve Creedy ROLLS-Royce will tonight announce that it has worked out solutions to the engine problem that has grounded Qantas's fleet of six A380 superjumbos.
Blackley's contract extended at Ten
Grant Blackley, Network Ten James Chessell THE chief executive of Ten's television business, Grant Blackley, has had his contract extended by two years.
Primary cuts earnings outlook, staff
medical microscope Ross Kelly PRIMARY Health Care sharply downgraded its earnings and dividend guidance today, after deciding to slash 290 full-time staff.
Shell gets okay for Prelude LNG vessel
Tony Burke Ross Kelly ROYAL Dutch Shell says Australia has granted environmental approval for its proposed Prelude floating liquefied natural gas vessel.
Financial Markets
Stocks fall as dollar retreats in Asia
stockmarket SHARES closed weaker today after troubling economic news from around the world prompted profit-taking, and the dollar fell in Asia.
Shares flat as ex-dividend NAB weighs
Wall St drops as tech stocks weigh
Financial Markets Coverage
Mining & Energy
Shell gets okay for Prelude LNG vessel
Tony Burke Ross Kelly ROYAL Dutch Shell says Australia has granted environmental approval for its proposed Prelude floating liquefied natural gas vessel.
TCI 'threats' dislodged Infigen chair
OPEC pumps up 2011 demand forecast
More Mining & Energy Coverage