Business News - 28 September 2010

• BSE Sensex edges down
  Tue, 28 Sep 2010 09:47:05 -0700
  Indian shares are trading slightly higher 0.05 percent or 10.47 points increased at 20,127.85 points on Tuesday.
• Online Startups Target College Book Costs
  Tue, 28 Sep 2010 07:29:16 -0700
  A wave of startups such as Flat World Knowledge hopes to use technology to change the economics of higher education
• America's Most Promising Startups
  Tue, 28 Sep 2010 07:29:16 -0700
  
• Boeing, General Dynamics Get Hearing in A-12 Case
  Tue, 28 Sep 2010 07:22:04 -0700
  The U.S. Supreme Court said it will hear appeals by Boeing Co. and General Dynamics Corp. of a ruling that could force them to pay $3 billion for defaulting on a contract to build a stealth fighter aircraft for the Navy.
• Consumer Woes Knock Back Stocks
  Tue, 28 Sep 2010 07:20:00 -0700
  Weakest confidence reading since February sends market to fresh lows Tuesday morning.
• Consumer Confidence in U.S. Fell More Than Forecast
  Tue, 28 Sep 2010 07:20:00 -0700
  Confidence among U.S. consumers fell in September to the lowest level in seven months as Americans became more pessimistic about the labor market.
• U.S. Stocks Extend Drop as Consumer Confidence Trails Estimates
  Tue, 28 Sep 2010 07:19:03 -0700
  U.S. stocks extended losses after a gauge of consumer confidence decreased more than forecast, spurring concern the economic rebound will stall.
• Target downgraded at Credit Suisse
  Tue, 28 Sep 2010 07:17:05 -0700
  Credit Suisse downgraded Target Corp (TGT) to "neutral" from "outperform" and cut its price target on the stock, citing concerns over operating margins.
• Fewer U.S. Chief Executives Project Gains in Sales, Employment
  Tue, 28 Sep 2010 07:15:20 -0700
  Chief executive officers in the U.S. turned less optimistic in the third quarter as fewer projected sales and hiring will improve, a survey showed.
• Consumer confidence slumps in September
  Tue, 28 Sep 2010 07:14:24 -0700
  When it comes to attitudes about the economy, Americans see the glass as half empty, according to the latest reading on consumer morale.
• Home Prices in U.S. Cooled After Tax Credit Expired
  Tue, 28 Sep 2010 07:13:01 -0700
  Home prices in 20 U.S. cities rose at a slower pace in July from a year earlier, reflecting a drop in sales following the end of a government tax credit.
• UK's CDC Group invests $12.5 mln in Indian VC firm SeedFund
  Tue, 28 Sep 2010 07:12:44 -0700
  CDC Group, UK's development finance institution, has made its first investment in VC firm SeedFund.
• Barnes & Noble Investors Choose Founder Riggio Over Ron Burkle
  Tue, 28 Sep 2010 07:12:05 -0700
  Barnes & Noble Inc.’s shareholders voted to keep Chairman Leonard Riggio on the board of the company he founded, rejecting an attempt at his ouster by Ron Burkle’s Yucaipa Cos. to shake up the largest U.S. bookstore chain.
• Supreme Court to decide corporate privacy rights
  Tue, 28 Sep 2010 07:11:37 -0700
  WASHINGTON (Reuters) - The Supreme Court said on Tuesday that it would decide whether corporations like AT&T Inc can claim personal privacy to prevent the disclosure of government documents under the freedom of information law.

  
  

  
  
• 4chan Attack on Anti-Piracy Law Firm is Expensive for Firm and Embarrassing for Porn Watchers
  Tue, 28 Sep 2010 07:11:17 -0700
  Over 5,000 UK citizens who allegedly downloaded porn movies illegally have had their names and addre
• Wall Street drops as confidence shrinks
  Tue, 28 Sep 2010 07:09:26 -0700
  NEW YORK (Reuters) - Stocks extended declines on Tuesday and the Nasdaq fell 1 percent after September data showed consumer confidence fell to its lowest level since February.

  
  

  
  
• CEOs' view of economy darkens: Roundtable
  Tue, 28 Sep 2010 07:07:20 -0700
  BOSTON (Reuters) - U.S. chief executive officers' view of the economy darkened in the third quarter, breaking a five-quarter streak of improvement and turning corporate America more cautious on hiring.

  
  

  
  
• Gome Shareholders Reject Proposal to Remove Chairman
  Tue, 28 Sep 2010 07:07:01 -0700
  Gome Electrical Appliances Holdings Ltd. shareholders voted to keep Chen Xiao as chairman, rejecting the proposal of billionaire founder Huang Guangyu, who’s fighting from jail to regain control of the Chinese retailer.
• Consumer confidence falls to lowest since Feb
  Tue, 28 Sep 2010 07:05:43 -0700
  NEW YORK (Reuters) - September consumer confidence ebbed to its lowest levels since February, driven by deteriorating labor market and business conditions, according to a private report released on Tuesday.

  
  

  
  
• Stock Trader's Almanac predicts DJIA will soar to 38,820 in fifteen years
  Tue, 28 Sep 2010 07:02:44 -0700
  Jeffrey Hirsch, editor of the annual Stock Trader's Almanac has predicted that the stock market will enter into a multi-year “super-boom” period commencing in 2017, sending the Dow Jones Industrial Average to 38,820 by the year 2025 (an aggregate 250 percent rally from current levels).
• Saving Taxes By Giving To Charity
  Tue, 28 Sep 2010 07:00:28 -0700
  It may seem too early to start planning year-end tax deductions, but it isn't. In fact, especially
• Driver texting bans may increase crashes
  Tue, 28 Sep 2010 06:54:34 -0700
  Laws against using mobile devices to send and receive text messages while driving don't reduce crashes, according to a new study by the Highway Loss Data Institute.
• Home prices dip in July, seen hovering near lows
  Tue, 28 Sep 2010 06:53:04 -0700
  NEW YORK (Reuters) - Single-family home prices dipped in July, hovering above multi-year lows absent the homebuyer tax credit that ended in April, according a Standard & Poor's/Case-Shiller home price report on Tuesday.

  
  

  
  
• Endo Pharma to buy generic drug co Qualitest for $1.2 bln
  Tue, 28 Sep 2010 06:50:29 -0700
  Endo Pharmaceuticals said the acquisition of Qualitest from private-equity firm Apax Partners would boost its presence in the generic and pain drug markets.
• Stocks falter ahead of consumer confidence
  Tue, 28 Sep 2010 06:47:21 -0700
  U.S. stocks fell early Tuesday, as investors digested a report showing home prices rising for the fifth straight month but the growth rate slowing.
• Endo to buy privately held Qualitest for $1.2 billion
  Tue, 28 Sep 2010 06:42:45 -0700
  BANGALORE (Reuters) - Endo Pharmaceuticals Holdings Inc said it agreed to buy privately held generics company Qualitest Pharmaceuticals for about $1.2 billion in cash to expand its portfolio of pain drugs, marking its second acquisition in as many months.

  
  

  
  
• Ashton Kutcher's New Passion
  Tue, 28 Sep 2010 06:42:08 -0700
  Kutcher and Founder of Twitter on how technology can be used to end child sex slavery.
• Walgreen results beat expectations
  Tue, 28 Sep 2010 06:38:49 -0700
  CHICAGO (Reuters) - Walgreen Co reported higher-than-expected quarterly earnings on Tuesday, helped by strong prescription drug sales, sending its shares up nearly 8 percent in premarket trading.

  
  

  
  
• Bank 'should consider new boost'
  Tue, 28 Sep 2010 06:35:25 -0700
  The Bank of England should consider pumping more money into the economy to secure the recovery, says a monetary policy committee member.
• L&T Finance files for $333 mln IPO - sources
  Tue, 28 Sep 2010 06:30:39 -0700
  MUMBAI (Reuters) - L&T Finance Holdings Ltd, a unit of Indian engineering and construction firm Larsen and Toubro , has filed for an initial public offering (IPO) to raise up to $333 million, three sources with direct knowledge of the matter told Reuters.
• GVK Power scouting for coal, gas assets
  Tue, 28 Sep 2010 06:30:27 -0700
  MUMBAI (Reuters) - GVK Power & Infrastructure is scouting for coal and gas assets overseas for $200 million to $1 billion to fire its power projects in India, the company's vice chairman said on Tuesday.
• Workers 'to clock off to smoke'
  Tue, 28 Sep 2010 06:30:05 -0700
  Workers could be forced to clock off when they go for a cigarette under a Norfolk council's proposals.
• Older workers say no to retirement
  Tue, 28 Sep 2010 06:26:03 -0700
  Gone are the days of golf and gardening into the golden years. Many older workers are working well into retirement and it's not just because they have to, it's because they want to.
• Equality Act: Six things employers need to know
  Tue, 28 Sep 2010 06:24:50 -0700
  A round-up of the main points employers and HR managers should be aware of.
• Rating agency doubts pile pressure on Irish government
  Tue, 28 Sep 2010 06:20:36 -0700
  DUBLIN (Reuters) - Ireland's borrowing costs leapt again on Tuesday after two credit rating agencies warned its debt is at risk of further downgrades, piling pressure on the government to bring forward its budget.

  
  

  
  
• Are social networking sites safe from virus attacks?
  Tue, 28 Sep 2010 06:08:27 -0700
  It seems social networking sites are easily prone to virus attacks. In recent times, several popular social networking platforms had been targeted by hackers with various viruses, intending to steal the personal information of the user.
• Classic saucy seaside postcard images by the firm Bamforth & Co are relaunched
  Tue, 28 Sep 2010 05:59:04 -0700
  Classic saucy seaside postcard images from Bamforth & Co are relaunched.
• BSE Sensex snaps 2-day gains on profit booking
  Tue, 28 Sep 2010 05:50:48 -0700
  BANGALORE (Reuters) - Weak global markets and investor profit booking, after the BSE Sensex surged 11.9 percent this month on robust foreign fund inflows, dragged the benchmark down 0.06 percent on Tuesday snapping a two-session rally.
• World Bank mulls investing in $11 bln India fund
  Tue, 28 Sep 2010 05:50:36 -0700
  NEW DELHI (Reuters) - The World Bank is exploring whether to invest in an $11 billion debt fund the Indian government will roll out by next year as part of a massive push to its infrastructure sector, the bank's India head said.
• Indian cos allowed to be banks' business correspondents
  Tue, 28 Sep 2010 05:50:26 -0700
  MUMBAI (Reuters) - The Reserve Bank of India on Tuesday allowed companies, excluding non-banking finance entities, to work as business correspondents of banks.
• US futures edge higher
  Tue, 28 Sep 2010 05:40:42 -0700
  Futures on major U.S. stock indices point to a higher opening on Tuesday ahead of economic reports on home prices and consumer confidence.
• India_OES_index
  Tue, 28 Sep 2010 05:40:36 -0700
  
• Shipping Corp of India may offer equity stake before Dec
  Tue, 28 Sep 2010 05:30:38 -0700
  SINGAPORE (Reuters) - State-run Shipping Corp of India could launch its follow-on share sale for a 20 percent equity stake before December, the managing director said on Tuesday.
• Sarkozy eyes defence deals in Dec. India visit
  Tue, 28 Sep 2010 05:30:26 -0700
  PARIS (Reuters) - French President Nicolas Sarkozy will visit India in December, officials said on Tuesday, with an eye on increasing French firms' share of the country's 10-year $50-billion defence spending.
• Brazil's finance minister warns of international 'currency war'
  Tue, 28 Sep 2010 05:24:20 -0700
  Brazil's finance minister Guido Mantega has warned that an "international currency war" is currently being waged.