Critic Likes Handful of Funds
Louis Lowenstein, a buttoned-down 81-year-old emeritus finance and law professor, is positioning himself to become the mutual fund industry's most urbane critic. Listening to him talk about his book in progress, which he promises will uncover the shame of the fund industry, is like watching a man sharpen his sword to do battle with a tank. One can't help but wish him well.
Text messaging on rise with young people
E-mail is so last millennium. Young people see it as a good way to reach an elder — a parent, teacher or a boss — or to receive an attached file. But increasingly, the former darling of high-tech communication is losing favor to instant and text messaging, and to the chatter generated on blogs and social networking sites such as Facebook and MySpace.
ATT launches Homezone TV and Internet service
U.S. phone company AT&T Inc. said on Wednesday it began marketing its AT&T Homezone, a long-awaited service that combines high-speed Internet and satellite television in one set-top box.
Matsushita steps up plasma HDTV drive
Matsushita Electric Industrial Co. Ltd. said on Wednesday it will launch four new models of high-definition plasma TVs, including the world's largest with a 103-inch panel, challenging LCD TVs' lead in offering higher resolution images.
Sony to launch advanced HD camcorders
Sony Corp. is to launch two models of high-definition camcorders that record images onto DVD discs and hard disk drives (HDDs), the first camcorder maker to offer such products, the company said on Wednesday.
Fed's Bernanke seen yielding few clues on rates
Federal Reserve Chairman Ben Bernanke goes before Congress on Wednesday to deliver testimony on the U.S. economy that financial markets will scour for clues on where interest rates are heading.
Banks Feel the Fed Squeeze
Profits at large U.S. banks are up, but not as much as they could be. This week and next, banks are reporting their earnings as Wall Street investors cautiously note the factors that could mean lower earnings.
Producer price rise fuels rate worries
U.S. producer prices rose a steeper-than-expected 0.5 percent last month as food prices jumped, the government said on Tuesday, leading markets to boost bets for another Federal Reserve interest rate hike.
Merrill Lynch Profits Surge 44 Pct.
Merrill Lynch, the largest U.S. Brokerage firm, beat Wall Street expectations on Tuesday as it reported a better than expected net quarterly income attributed to high equity trading revenue growth.
Nigeria Seeks Investors at Economic Summit
Nigeria opened an international economic summit on Monday to discuss Africa's investment opportunities abroad and the growth of the private sector.
Volatile prices to dim gold's glitter
High and volatile prices will continue to scare physical gold buyers in most parts of the world, but some markets such as China and Japan will remain strong, bullion dealers said.
Safe haven dollar buying may not be full picture
Was the dollar's recent sharp run higher against a backdrop of conflict in the Middle East a pure geopolitical safe-haven play? Not quite, some say.
MTN Buys Out Investcom for $3.6 Billion
South African mobile operator MTN has paid $3.6 billion in cash to the shareholders of Investcom in one of the biggest payments made by a South African company for foreign assets said the group on Monday.
SanDisk Unleashes 4GB Memory Card
SanDisk Corp. unveiled a 4GB SD high capacity (SDHC) memory card, on Monday.
Microsoft Files 26 U.S. Piracy Lawsuits
Microsoft Corp. has filed 26 lawsuits accusing U.S. companies of selling pirated software, the latest move in its ramped-up efforts to boost sales by cracking down on illegal copies.
Hollywood Studios to Allow DVD Burning
Hollywood movie studios are set to allow secure transfer of downloadable movies to DVDs for the first time by using new software to facilitate the process.
SalesForce.com Targets SAP With Latest Software
Salesforce.com, provider of online tools to help companies, released a new version of its on-demand customer relations management software on Monday.
Fund managers more gloomy about future: Merrill poll
Investors have turned increasingly pessimistic about the future and now widely expect a weaker global economy and deteriorating corporate profits, a notably bearish Merrill Lynch poll showed on Tuesday.
Wagoner: Would remain GM CEO after any tie-up
General Motors Corp Chief Executive Rick Wagoner insisted on Tuesday he planned to keep his job even if the U.S. carmaker strikes a three-way alliance with rivals Renault SA and Nissan Motor Co.
Kenyan port eyes S. Sudan, Ethiopia cargo
Kenya's main port is targeting cargo for reconstruction of southern Sudan to expand its business, and the government is planning a second port to serve northern neighbors like Ethiopia, an official said on Tuesday.
Boeing Pressures Airbus with Emirates Deal
Boeing Co. will step up pressure on archrival Airbus on Tuesday with a $2.8 billion deal for its biggest cargo plane expected from airline Emirates, which recently walked away from plans to buy the freighter version of the Airbus A380 superjumbo.
FX risks mount for China firms as policy evolves
Chinese firms may for the first time face major currency risks in the coming year - not only because the yuan is rising but because officials are shifting more responsibility for risk from the government to companies.
Citibank Shares Drop as 2Q Earnings Disappoint
Shares of Citigroup, the world's biggest financial services company by market value, dropped on Monday amid disappointing second quarter earnings which fell slightly below analysts' expectations.
SEC head sees option timing charges very soon
The first civil charges will be forthcoming very soon in the stock options timing scandal involving dozens of U.S. companies, the nation's top securities regulator said on Monday.
Reading the Volatile Market
Following a tumultous week, investors are wondering what lessons can be learned.
Global growth strong and broadly based: G8
Global economic growth is strong and becoming more broadly based, the Group of Eight nations said on Monday at their summit in St Petersburg.
Trade powers to meet in bid to save Doha round
Under pressure from Group of Eight leaders, ministers from six key trade powers are to start intensive meetings to rescue the deeply troubled Doha round, officials said on Monday.
Smartphone Battle: Blackberry and Treo Go Head to Head
Large businesses are in love with Blackberry and its wireless email capabilities. Research in Motion, the Canadian firm who sells the enterprise-centric devices, shipped a record 1.5 million units in 2005, snatching up nearly 8 percent of the worldwide smartphone market. The success however, makes RIM a prime target and competitors are scrambling to get a piece of the pie.
$150 mln U.S. fund targets Israel
U.S. venture capital firm Greylock Partners said on Monday it closed a $150 million fund that will invest in early-stage Israeli high-tech companies.
To inflate or appreciate, that's China's question
A year since China untethered the yuan from the dollar, arguments are intensifying whether to let inflation rise in order to bring about the real exchange rate appreciation needed to adjust the country's lopsided economy.
