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Nov 16, 2010

Microsoft Dismisses Break-Up Calls | F & F I N | The Australian Bussiness Briefing


Update For Wed Nov 17 13:30:18 EST 2010



Microsoft dismisses break-up calls
Microsoft Jeanette Borzo MICROSOFT, which once weathered government pressure to break up, now faces similar questions from a new quarter: its shareholders.
Shares, dollar slump on global fears
Shares defy US lead to close lower UPDATE: THE Australian sharemarket was firmly in the red by early afternoon, with losses in all sectors following poor leads from overseas markets.
Qantas A380s may idle for weeks
Qantas UPDATE: Steve Creedy, Aviation writer QANTAS may wait till December before its Airbus A380s fly again, while Singapore Airlines has returned its 11-strong fleet to service.
China to crack down on price rises
China Victoria Ruan and Owen Fletcher CHINA'S State Council is drafting measures aimed at curbing overly fast price rises, a statement citing Chinese Premier Wen Jiabao says.
Rothschild takes $3bn bet on coal
Coal Robin Pagnamenta NAT Rothschild has joined forces with one of Indonesia's most powerful men to create a coalmining group to take advantage of Chinese demand.
Wages rise 1.1pc in the third quarter
Australian dollar WAGES excluding bonuses rose 1.1 per cent in the third quarter of 2010 from the second quarter and rose 3.5 per cent from a year earlier.
Ireland faces IMF oversight for aid
Aus Bus Pix Ireland Dublin bank crisis Marcus Walker and Patrick McGroarty EUROPE insists that Ireland bow to IMF oversight in return for a huge bank bailout as Britain edges closer to providing direct aid.
Change of guard at Sphere Minerals
Aus Bus Pix Xstrata logo Michael Bennet XSTRATA has taken control of the board of Sphere Minerals, with managing director Alexander Burns cashing out for more than $20 million.
Financial Markets
Shares, dollar slump on global fears
Shares defy US lead to close lower UPDATE: THE Australian sharemarket was firmly in the red by early afternoon, with losses in all sectors following poor leads from overseas markets.
Ireland faces IMF oversight for aid
Wall St tumbles on China fears
Financial Markets Coverage
Mining & Energy
Change of guard at Sphere Minerals
Aus Bus Pix Xstrata logo Michael Bennet XSTRATA has taken control of the board of Sphere Minerals, with managing director Alexander Burns cashing out for more than $20 million.
Rothschild takes $3bn bet on coal
Gold slides on soft US inflation data
More Mining & Energy Coverage

Financial advice: Finding the right fit is key: MarketWatch - Personal Finance Daily

MarketWatch
Personal Finance Daily
NOVEMBER 16, 2010

Tuesday's Personal Finance stories

By MarketWatch



Don't miss these top stories:
How do you know whether a particular financial adviser is the right fit for you? It's not easy. As Jonathan Burton notes in his Life Savings column today, financial planners do more than suggest wise money moves. Their relationship with clients is often akin to therapy. You've got some deeply ingrained money habits, and if those habits are not serving you well, the financial adviser has to get you to change.

Some planners undertake that process more successfully and professionally than others. Read Jonathan's column today for more on what to expect from a financial adviser — and five mistakes you don't want your money manager to make. Plus watch Stacy Delo's video on the mistakes advisers say their clients are making now.

So, we've got mistakes advisers make, and mistakes clients make. If we can get past those errors, your portfolio should hit a home run.

Andrea Coombes , Personal Finance editor

SPECIAL REPORT: GOOD ADVICE

5 ways financial advisers fail investors

Working with a financial adviser is about more than money. The success of the relationship depends in large part on an adviser's ability to communicate with you.
Read more: 5 ways financial advisers fail investors.

Mistakes investors are making now

Financial advisers say their clients are living in the past, fearful of another market collapse: They're reluctant to invest in stocks, and they're too heavily focused on bonds. Those are serious mistakes, advisers say. Stacey Delo reports.
 Watch video: Mistakes investors are making now.


TAXES

Deal on tax cuts coming soon: Geithner

U.S. Treasury Secretary Timothy Geithner said Tuesday he expects the White House and Congress to reach a deal soon on extending tax cuts for individuals that are set to expire at year's end.
Read more: Deal on tax cuts coming soon: Geithner.

Estate tax? Bring it on

Some say the estate tax drives small firms and family farms out of business, but a group of small-business owners challenges that notion. Jerry Fiddler of VC firm Zygote Ventures says the estate tax is the least of entrepreneurs' worries.
 Watch video: Estate tax? Bring it on.


REAL ESTATE

Dodd: Robo-signing the tip of the iceberg

The head of the Senate Banking Committee said Tuesday the foreclosure robo-signing crisis is the tip of the iceberg of mortgage documentation problems as he called for federal regulators to step up their efforts.
Read more: Robo-signing is the tip of the iceberg, Dodd says.


Banks' servicing arms under scrutiny in foreclosure mess

On Tuesday and again on Thursday, lawmakers will hear from a panel of mortgage industry executives, government officials, and other witnesses about the foreclosure document crisis.
Read more: Banks' servicing arms under scrutiny in foreclosure mess.


Foreclosure troubles may threaten financial system

Problems with documents used to process foreclosures may be serious enough to threaten the health of the U.S.'s financial system, a government panel warned Tuesday.
Read more: Foreclosure troubles may threaten financial system.


Builder confidence edges up in November

A gauge of builder confidence for new single-family homes inched upward in November but remained in depressed territory, according to data released Tuesday.
Read more: Builder confidence edges up in November.


CAREERS

In interviews, eloquence more important than accuracy

If you're stumped by a question in an interview, fake it. That's the advice coming out of a new study from Harvard.
Read more: In interviews, eloquence more important than accuracy.


Hiring, compensation rises for asset management

When it comes to the asset and wealth management sectors, global is the key word. A new trends report by Russell Reynolds Associates points to elevated compensation outside the U.S. in the sector and increased hiring for those with emerging markets experience.
Read more: Hiring, compensation rises for asset management.


Pay or perks: What employees want

What are you willing to do for that dream job? Take a 50% pay cut? Or forego the all-expenses-paid company gym (with spa attached)? If you answered the latter, you're in very good company.
Read more: Pay or perks: What employees want.


ECONOMY & POLITICS

Commentary: Higher inflation, lower rates don't go together

This may come as a surprise to Ben Bernanke, but more inflation and lower interest rates do not go together. Never did; never will.
Read more: Higher inflation, lower rates don't go together.


Watchdog calls for second round of stress tests

The Treasury Department should require regulators to conduct another round of stress tests on major lenders, focused on the potential costs to financial institutions from investors seeking to force banks to repurchase mortgages, a congressional watchdog said Tuesday.
Read more: Watchdog calls for second round of stress tests.


Dodd-Frank faces a test on securitization

Banking forces are gathering for one of the first battles over implementation of the Dodd-Frank Act today: a Senate Banking Committee hearing over the use of securitizations.
Read more: Dodd-Frank faces a test on securitization.

Declining car prices limit producer price rise

U.S. producer prices rose in October at a pace slower than economists had anticipated as prices for cars and trucks declined, according to government data released Tuesday.
Read more: Declining car prices limit producer price rise.


Industrial output flat in October

Industrial production was flat in October after a cutback in utility use due to unseasonably warm weather, the Federal Reserve reported Tuesday.
Read more: Industrial output flat in October.


Rangel broke House rules, ethics panel finds

A House ethics panel on Tuesday found longtime New York Democrat Charles Rangel guilty of multiple violations of House rules.
Read more: Rangel broke House rules, ethics panel finds.


INVESTING

Commentary: Laughing our way to riches

Our moods guide us when it comes to decisions. Now, a new study suggests that our trading impulses may be affected by what we do over the weekend, writes David Weidner.
Read more: Laughing our way to riches.


Commentary: Is the gold bubble about to go manic?

Bubbles go through several phases: A bull market can build for years and as it turns into a boom, the mainstream culture starts to pay attention. But it's not until the final blowup phase that everyone jumps in, writes Brett Arends.
Read more: Is the gold bubble about to go manic?


Global fund managers at most bullish since April

Global fund managers last week were at their most bullish since April, according to a new report, but pollsters cautioned that the positive sentiment will require continued strong economic data and resolution of sovereign-debt issues to continue.
Read more: Global fund managers at most bullish since April.


Are ETFs a menace — or just misunderstood?

Could exchange-traded funds blow up and take the markets down with them? A report released this week argues that ETFs are "radically changing the markets," raising the prospect of a "panic-driven market meltdown." ETFs are funds that hold all the securities in an index and themselves trade like a stock.
Read more: Are ETFs a menace — or just misunderstood?


PERSONAL TECH

Apple gets the Beatles on iTunes

Adding one of the last major pieces missing to its online music business, Apple Inc. on Tuesday said it will begin selling the music of the Beatles on its iTunes store.
Read more: Apple gets the Beatles on iTunes.


Commentary: Should China's computing feat be feared?
The big news is now official. A Chinese scientific research center has developed the world's fastest supercomputer, a title it wrestled from the United States using a combination of Silicon Valley technology and some major innovations by their own engineers.
Read more: Should China's computing feat be feared?

General Motors to Boost IPO By 30%, Making It Biggest Ever: CNBC Evening Brief :


LATEST STORIES


»click here to see the latest top stories from CNBC.com

The New GM
CNBC 360 Special Report: Squawk on the Street
On the eve of one of the biggest offerings in history...Stay with CNBC's team of experts for the very latest on the IPO pricing plus in-depth analysis on what this historic day will mean for GM and investors.
»Tomorrow 10:30AM ET


LATEST VIDEO


Stocks Plummet As Overseas Concerns Take Hold - U.S. Commentary : RTTNews Evening Market Wrap

Evening Market Wrap Tue Nov 16 17:01 2010

Commentary

Nov 16, 2010 Stocks Plummet As Overseas Concerns Take Hold - U.S. Commentary Stocks ended sharply lower on Tuesday, as concerns about the financial state of Ireland and the increased likelihood of an interest rate hike by China prompted heavy selling in the equity markets. Some traders used the overseas worries as an opportunity to cash in on recent gains. The major averages moved off their worst levels of the session going into the close but still ended the day firmly in the red. Full Article

Economic News

Nov 16, 2010 U.S. Producer Price Growth Misses Estimates In October While energy prices showed a substantial increase in the month of October, the Labor Department released a report on Tuesday showing that total producer prices rose by much less than expected for the month due in part to a drop in auto prices. The Labor Department said its producer price index rose by 0.4 percent in October, matching the increases seen in each of the two previous months. Economists had been expecting the index to increase by a more significant 0.8 percent. Full Article
Nov 16, 2010 U.S. Industrial Production Unchanged Amid Steep Drop In Utilities Output Industrial production in the U.S. unexpectedly came in unchanged in the month of October, according to a report released by the Federal Reserve on Tuesday, with a notable decrease in utilities output offsetting an increase in manufacturing output. The report showed that industrial production was unchanged in October after falling by 0.2 percent in September. Economists had been expecting production to increase by 0.3 percent. Full Article
Nov 16, 2010 U.S. Homebuilder Confidence Improves For 2nd Straight Month In November Homebuilder confidence improved for the second consecutive month in November, the National Association of Home Builders revealed in a report on Tuesday, with the increase partly due to a notable improvement in expectations for the next six months. The report showed that the NAHB/Wells Fargo Housing Market Index rose to 16 in November from a downwardly revised 15 in October. Full Article

Corporate News

Nov 16, 2010 TJX Profit Tops Beats ExpectationsOff-price retailer TJX Companies Inc. (TJX) on Tuesday reported a 7% increase in profit for the third quarter, reflecting strong merchandise margins. Net sales increased 5%. Both earnings per share and revenue for the quarter topped analysts' expectations. Looking ahead, the company raised its earnings outlook for fiscal year 2011. Full Article
Nov 16, 2010 Wal-Mart Profit Rises; Lifts ForecastRetail giant Wal-Mart Stores Inc. (WMT) Tuesday reported higher third-quarter profit, reflecting a tax benefit and strong international sales. The Bentonville, Arkansas-based company's total U.S. comparable store sales declined in the third quarter as Walmart U.S. posted lower comps due to a decline in store traffic and average ticket. The world's largest retailer, however, provided earnings outlook for the fourth quarter above Wall Street analysts' estimate and lifted its earnings guidance for fiscal 2011. Full Article
Nov 16, 2010 Honeywell Slashes Outlook To Reflect Pension Accounting ChangeDiversified technology and manufacturing company Honeywell International, Inc. (HON) announced Tuesday changes in its accounting pattern for pension expense, which has led the company to slash its earnings forecast for the fourth quarter and for the full-year 2010. The company also plans additional pension funding in 2011. Full Article
Nov 16, 2010 GM Lifts IPO Price RangeAutomotive manufacturer General Motors Co. Tuesday said it lifted the estimated price range for the Initial public offering, which is set on November 18, and also increased the size of the convertible preferred stock offering. The media cited strong investor demand for the price increase. Full Article
Nov 16, 2010 Home Depot Profit Tops Estimates; Lifts ForecastHome Depot, Inc. (HD) reported Tuesday a 21% rise in profit for the third quarter, boosted by higher comparable store sales as well as expense control. The results topped market projections. Further, the world's largest home improvement retailer lifted its fiscal 2010 earnings forecast, which is expected to beat market numbers, but trimmed its sales growth view. The Atlanta, Georgia-based company's net earnings grew to $834 million from prior year's $689 million, and earnings per share climbed 24.4% to $0.51 from $0.41 a year ago. Full Article

Featured Article

Nov 16, 2010 Dollar Rallies As Focus Shifts To Ireland Rescue The dollar continued to fight back on Tuesday, hitting its highest level in almost two months amid growing concerns about Europe's sovereign debt crisis. All eyes were on Brussels as European finance ministers met to discuss a bailout for Ireland. The EU is expected to come up with large amounts of cash to put a firewall around Irish banks in order to prevent contagion. Full Article

Political News

Nov 16, 2010 India A Partner In Non-Proliferation Efforts: U.S.The United States considers India a partner in its global non-proliferation efforts and believes the latter can play an important role in strengthening the overall non-proliferation regime, an American official said Monday. "One of the criticisms in the past has been that U.S. sometimes regarded India more as a target than a partner in non-proliferation," Assistant Secretary of State for South and Central Asia, Robert Blake, told journalists in New York and Washington during a digital video press conference. Full Article
Nov 16, 2010 Senate Leadership Remains Unchanged On Both Sides Of The AisleWhile Democrats will have a much smaller majority in the Senate when the 112th Congress convenes in January, the party leadership in the upper chamber will remain unchanged. The top Republicans in the Senate will also be returning to their leadership positions. Following the Senate leadership elections on Tuesday, Sen. Harry Reid, D-Nev., will remain the Senate Majority Leader, while Sen. Mitch McConnell, R-Ken., will remain the Senate Minority Leader. Full Article
Nov 16, 2010 Poll Shows Jobs Are Now Seen As America's Most Important ProblemAmericans now say high unemployment is the most important problem facing the country, according to the results of a Gallup poll released on Tuesday, with the struggling job market climbing above the economy in general to top the list. The poll showed that 33 percent of those surveyed said jobs/unemployment is the most important problem facing the country, up from 28 percent in an October survey. Full Article

Stocks tumble as Europe debt and China weigh | F & F I N | Reuters - Daily Investor Update





Stocks tumble as Europe debt and China weigh
Wal-Mart sees fortunes turning on holiday sales
Wholesale prices fall as output flat
GM boosts IPO pricing, offers more preferred shares
Wall Street profit may hit $19 billion in 2010
UPS plans to hire 50,000 seasonal workers
Irish rebuff bailout call in euro zone crisis
Microsoft's Gates, Ballmer defend stock sales
Panel sounds foreclosure warning, industry downplays
Top Democrat signals deal on Bush-era tax cuts

China to Crack Down on Price Rises | F & F I N | The Australian Business Briefing




Wall St tumbles on China fears
Wall St UPDATE: Kristina Peterson US stocks slumped today as fears mounted over a slowdown in Chinese economic growth, pushing the Australian dollar below US98 cents.
 
China to crack down on price rises
China Victoria Ruan and Owen Fletcher CHINA'S State Council is drafting measures aimed at curbing overly fast price rises, a statement citing Chinese Premier Wen Jiabao says.
 
Rolls to raid A380 production line
A380 David Pearson and Steve McGrath ROLLS-ROYCE will be allowed to take engines off A380s on the Airbus production line as it tries to fix a problem with engines in service.
 
BHP to keep chasing assets
Jac Nasser and Marius Kloppers Andrew Burrell BHP Billiton chairman Jac Nasser has blamed rising protectionism and nationalism for contributing to the string of failed recent deals.
 
Samuel corrects error on interests
Graeme Samuel EXCLUSIVE: Richard Gluyas COMPETITION tsar Graeme Samuel has had to correct his recent annual disclosures to the government about his private business interests.
 
Lone Axa director stands against bid
Axa Scott Murdoch AMP's third tilt at Axa Asia Pacific (APH) has hit another hurdle.
 
ANZ still hopeful of snaring Korean bank
anz Scott Murdoch ANZ is confident it remains in the hunt for the Korean Exchange Bank despite the prospect of being trumped by a rival Korean player.
 
RBA expected rates top-up
RBA Enda Curran THE Reserve Bank of Australia's decision to tighten policy this month was finely balanced.
 
Financial Markets
Wall St tumbles on China fears
Wall St UPDATE: Kristina Peterson US stocks slumped today as fears mounted over a slowdown in Chinese economic growth, pushing the Australian dollar below US98 cents.
 
Gold slides on soft US inflation data
Stocks recover on Irish bailout hopes
 
Financial Markets Coverage
 
Mining & Energy
Gold slides on soft US inflation data
Gold Matt Whittaker INVESTORS dumped gold today after soft US producer inflation data, preferring the US dollar as worries about euro-zone debt persisted.
 
BHP to keep chasing assets
Hunting's in the genes, says Nasser
 
More Mining & Energy Coverage