business
Barclays Said to Hire Weiner-Trapness as Asia Financials Head
Barclays Plc, Britain’s second- biggest bank by assets, hired Helge Weiner-Trapness, a former JPMorgan Chase & Co. banker, as head of its financial institutions group for Asia-Pacific, two people with direct knowledge of the situation said. .BusinessWeek.com -- Top News
RBA May Extend Australia Rate Pause on Global Growth Concern
Australia’s central bank may keep its benchmark interest rate unchanged for a fourth month to support the nation’s economy as concerns deepen that recoveries may be faltering in the U.S., Japan and Europe.BusinessWeek.com -- Top News
Dubai Stocks Surge Most Since June on Global Growth Confidence
Dubai shares rose the most in more than two months, leading a Middle East rally, after growth in U.S. private employment fueled optimism that the world’s biggest economy will avoid a recession. .BusinessWeek.com -- Top News
Obama Pledges New Measures to Boost Economic Growth and Hiring
President Barack Obama promised to roll out “new ideas” to boost growth and spur hiring this week as he embarks on economy-focused trips to the Midwest with less than two months until congressional elections.BusinessWeek.com -- Top News
Belgian King Picks Mediators in Bid to Restart Government Talks
King Albert II of Belgium accepted the resignation of Elio Di Rupo as leader of failed talks on a new government and asked mediators to seek ways to revive the process, which collapsed because of a clash over power sharing between French- and Dutch-speaking factions.BusinessWeek.com -- Top News
Trichet Urges EU Nations to Find Unified Position on IMF Board
European Central Bank President Jean-Claude Trichet urged European Union countries to find a unified position over threats to the bloc’s influence at the International Monetary Fund.BusinessWeek.com -- Top News
New Zealand City, Rocked by Quake, Under Curfew as Storm Nears
New Zealand’s second-largest city, Christchurch, was placed under night curfew as a storm threatens to exacerbate an estimated NZ$2 billion ($1.44 billion) of damage caused when a magnitude 7.0 earthquake hit the area.BusinessWeek.com -- Top News
Dell Likely to Seek New Data-Storage Targets After 3Par Loss
Dell Inc., beaten by Hewlett-Packard Co. in an 18-day bidding war for data-storage provider 3Par Inc., is likely to pursue other targets that would help it vie with market leaders including EMC Corp. .BusinessWeek.com -- Top News
Asean Says Obama Summit Reaffirms U.S. Confidence in Region
President Barack Obama’s plan to meet Southeast Asian leaders this month reaffirms U.S. trust in a group that’s leading efforts to meet global economic and financial challenges, a regional official said. .BusinessWeek.com -- Top News
Donovan Not Ready to ‘Declare Victory’ on U.S. Housing Progress
Home sales, showing new signs of life two years after the credit crunch drove down home prices, must gain more ground before policy makers can “declare victory,” Housing and Urban Development Secretary Shaun Donovan said.BusinessWeek.com -- Top News
Kara DioGuardi Steps Down From Fox’s ‘American Idol’
Kara DioGuardi is leaving as a judge on top-rated “American Idol” after two seasons, News Corp.’s Fox said today.BusinessWeek.com -- Top News
North Korea’s First Congress in 30 Years May Discuss Successor
North Korea is preparing its biggest political gathering in 30 years, fueling speculation Kim Jong Il may use the forum to legitimatize a transfer of power to his youngest son as his own takeover was ensured at a 1980 summit.BusinessWeek.com -- Top News
UPS Freighter-Crash Probe Under Way in UAE After Two Are Killed
United Arab Emirates officials are trying to determine why a United Parcel Service Inc. freighter crashed after takeoff from Dubai, killing both pilots, following the crew’s report of fire in the cockpit. .BusinessWeek.com -- Top News
business
Obama to Seek $100 Billion Extension of Tax Credit
President Barack Obama this week will urge Congress to permanently extend and expand a research and development tax credit to encourage job growth.BusinessWeek.com -- Top News
Newcrest Says Asia, Africa Present ‘Great’ M&A Opportunities
Newcrest Mining Ltd., set to buy smaller rival Lihir Gold Ltd. for $9.6 billion, said it’s eyeing further merger and acquisition opportunities in the Asia-Pacific region and West Africa. .BusinessWeek.com -- Top News
Foxconn’s Gou Cuts Target as Size Brings ‘Biggest Challenge’
Foxconn Technology Group Chairman Terry Gou cut his long-term growth target for the world’s largest contract manufacturer of electronics by half as demand for Apple Inc. iPhones and iPads fails to offset slowing computer sales. .BusinessWeek.com -- Top News
Newcrest Says Asia, Africa Present ‘Great’ M&A Opportunities
Newcrest Mining Ltd., set to buy smaller rival Lihir Gold Ltd. for $9.6 billion, said it’s eyeing further merger and acquisition opportunities in the Asia-Pacific region and West Africa. .BusinessWeek.com -- Top News
New Zealand City, Rocked by 7.0 Earthquake, Faces Gales, Rains
New Zealand’s second-largest city, Christchurch, faces gale force winds and heavy rains today that may add to an estimated NZ$2 billion ($1.44 billion) of damage caused by yesterday’s magnitude 7.0 earthquake.BusinessWeek.com -- Top News
Obama Plans New Steps to Boost Economic Growth, Jobs
President Barack Obama promised to roll out “new ideas” to boost growth and spur hiring next week as he embarks on economy-focused trips to the Midwest with less than two months until congressional elections.BusinessWeek.com -- Top News
Trichet Says Greece Exit From Euro ‘Worst Possible Option’
European Central Bank President Jean-Claude Trichet said in Cernobbio today that Greece’s exit from the euro would be the “worst possible option.”BusinessWeek.com -- Top News
Mullen Urges Turkey to Help on Iran, Afghan Command
President Barack Obama’s top military adviser, Navy Admiral Mike Mullen, urged Turkey to help ensure Iran doesn’t gain the capacity to make atomic weapons and to extend the period of its commands in Afghanistan.BusinessWeek.com -- Top News
Treasury 10-Year Notes Drop, Yield Curve Steepens on Jobs Gain
Treasury 10-year notes and 30-year bonds dropped for a second week for the first time since April as a bigger-than-forecast gain in company payrolls eased concern the U.S.BusinessWeek.com -- Top News
Co-Owner of Missing Corot, Sales Agent Spent Time in Prison
Tom Doyle and James Carl Haggerty weren’t hobnobbing in Manhattan, Miami or London in early 2007 as the art market was peaking.BusinessWeek.com -- Top News
Asia Stocks Post Weekly Advance on BOJ, Manufacturing Growth
Asian stocks rose, lifting the MSCI Asia Pacific Index to its biggest weekly increase in three, as Japan said it’s ready to act to rein in the yen and reports showed growth in Chinese and U.S.BusinessWeek.com -- Top News
Won Paces Asian Currency Gains This Week as Data Beat Forecasts
South Korea’s won paced a rally in Asian currencies this week after economic data in Asia beat analysts’ estimates, boosting optimism global funds will increase holdings of regional assets.BusinessWeek.com -- Top News
Missing Corot’s Co-Owner and Sued Sales Agent Were Prison Mates
In early 2007, when the art market was peaking, Tom Doyle and James Carl Haggerty weren’t hobnobbing in Manhattan, Miami or London.BusinessWeek.com -- Top News
business
IMF’s Lipsky Says ‘Modest Recovery’ Underway for Global Economy
John Lipsky, the second-ranking official at the International Monetary Fund, said Group of 20 nations deputies showed confidence about the global economic recovery, even taking into account challenges and risks.BusinessWeek.com -- Top News
Obama to Call for $100 Billion Extension of Research Tax Credit
President Barack Obama this week will urge Congress to permanently extend a research and development tax credit to encourage job growth.BusinessWeek.com -- Top News
New Zealand City, Rocked by Earthquake, Faces Gales
New Zealand’s second-largest city, Christchurch, faces gale force winds and heavy rains today that may add to an estimated NZ$2 billion ($1.44 billion) of damage caused by yesterday’s magnitude 7.0 earthquake.BusinessWeek.com -- Top News
Abbott Asks Independents for Support as Election Choice Nears
Australian Liberal-National leader Tony Abbott pleaded for support for his coalition from three key independent lawmakers, who may make an announcement on who they’ll back to form a government as early as tomorrow.BusinessWeek.com -- Top News
India Sugar Production to Match Demand Next Year, Minister Says
Sugar production in India, the biggest consumer, may jump 17 percent as rains improve yields, helping the nation meet domestic demand, Farm Minister Sharad Pawar said.BusinessWeek.com -- Top News
Tropical Storm Earl Weakens, Threatens Nova Scotia
Tropical Storm Earl, which is lashing Maine with wind and rain, is forecast to come ashore near Yarmouth, Nova Scotia, later today.BusinessWeek.com -- Top News
Obama Says Economy Needs a ‘Thriving Middle Class’ to Prosper
President Barack Obama said the U.S. economy needs a “thriving middle class” as it recovers from the “worst recession in our lifetimes.” .BusinessWeek.com -- Top News
Noda Says Coordinating Yen Intervention ‘Difficult’
Japanese Finance Minister Yoshihiko Noda said it would be “difficult” to gain support for international coordination to halt the yen’s gains, signaling any sales of the nation’s currency would have to be unilateral.BusinessWeek.com -- Top News
Obama Pledges New Measures Next Week to Boost Economy and Jobs
President Barack Obama promised to roll out “new ideas” to boost growth and spur hiring next week as he embarks on economy-focused trips to the Midwest with less than two months until congressional elections.BusinessWeek.com -- Top News
Goldman Sachs Said to Be Shutting Proprietary-Trading Division
Goldman Sachs Group Inc. is disbanding its principal-strategies business, one of the groups that makes bets with the firm’s own money, to comply with new U.S. rules aimed at curbing risk, two people with knowledge of the decision said. .BusinessWeek.com -- Top News
Enron’s Skilling Denied Bail During Convictions Appeal
Ex-Enron Corp. Chief Executive Officer Jeffrey Skilling was denied a request to be released from prison on bail while he appeals his 2006 fraud convictions. .BusinessWeek.com -- Top News
Japan’s Bonds Fall Most Since May 2008 on Ozawa Leadership Bid
Japanese bonds completed the biggest weekly loss since May 2008 on concern a government led by Ichiro Ozawa will boost debt-fueled spending and as economic reports encouraged investors to switch to higher-yielding assets.BusinessWeek.com -- Top News
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Australian Independents Will Choose Party to Form Government
Australian independent lawmakers will announce shortly whether they’ll support Julia Gillard’s Labor Party or Tony Abbott’s Liberal-National coalition to form a government more than two weeks after an inconclusive election.BusinessWeek.com -- Top News
New Zealand Faces $1.4 Billion Bill After Christchurch Quake
New Zealand faces a NZ$2 billion ($1.4 billion) damage bill and a massive clean-up after Christchurch, its second-biggest city, was hit by a magnitude 7.0 earthquake that closed the central business district.BusinessWeek.com -- Top News
North Korea Ruling Party’s Congress May Discuss Kim’s Successor
North Korea’s ruling party is preparing its biggest political gathering in 30 years, fueling speculation Kim Jong Il may use the forum to legitimatize a transfer of power to his youngest son Kim Jong Un.BusinessWeek.com -- Top News
Australia’s Victoria Hit by Storms, Flooding; Towns Evacuated
Victoria was hit by storms and flooding, with three towns in the northeast of Australia’s second-most-populous state being evacuated, emergency services said.BusinessWeek.com -- Top News
Tropical Storm Earl Makes Landfall in Nova Scotia
Tropical Storm Earl raced across Nova Scotia, nearing the end of its march up the eastern Atlantic coast, after making landfall this morning near the community of Western Head.BusinessWeek.com -- Top News
Saudi Shares Climb Most in Seven Weeks Following U.S Jobs Data
Saudi Arabian shares rose the most in seven weeks after U.S. and European markets rallied on reports reassuring investors that the recovery in the world’s biggest economy is not waning. .BusinessWeek.com -- Top News
Saudi Shares Climb Most in Six Weeks Following U.S Jobs Data
Saudi Arabian shares rose the most in six weeks after U.S. and European markets rallied on reports reassuring investors that recovery in the world’s biggest economy is not waning. .BusinessWeek.com -- Top News
New Zealand City, Rocked by Quake, Declares Emergency
Christchurch, New Zealand’s second- largest city, declared a state of emergency after the nation’s South Island was rocked by a magnitude 7.0 earthquake that cut power, damaged roads and ripped facades off buildings.BusinessWeek.com -- Top News
Enron’s Skilling to Remain in Prison During Appeal, Court Rules
Ex-Enron Corp. Chief Executive Officer Jeffrey Skilling, under a court ruling denying him bail, will remain in prison while he appeals his 2006 fraud convictions. .BusinessWeek.com -- Top News
Fed May Face Less Pressure to Add Stimulus After Jobs Report
Higher-than-forecast U.S. private job gains may reduce pressure on Federal Reserve policy makers to add monetary stimulus this month without closing the door to a move later this year, economists said. .BusinessWeek.com -- Top News
Earl Upsets Travels, Weakens, on Way to New England
Hurricane Earl, weakening as it moves north toward New England and Canada, disrupted air and rail travel and lashed North Carolina’s Outer Banks with wind and rain.BusinessWeek.com -- Top News
Mattel Sues MGA, CEO Larian Claiming Illegal Money Transfer
Mattel Inc. sued MGA Entertainment Inc., claiming the rival toy company and its chief executive officer illegally transferred more than $400 million to block Mattel from collecting the money as a creditor. .BusinessWeek.com -- Top News