WallStreetBlips - Latest Other Wall Street News Articles

Renault angers young French couples by naming its new car Zoé

Tue, 24 Nov 2009 22:27:38 +0000

First it was Clio, then Mégane. Now Renault, the car manufacturer, has upset French parents by christening its latest offspring Zoé.

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Police: Census worker staged death to conceal suicide - USATODAY.com

Tue, 24 Nov 2009 21:51:22 +0000

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Obama's delay over Afghanistan is hitting UK support for the war, says Bob Ainsworth

Tue, 24 Nov 2009 21:41:52 +0000

President Obama’s delay in authorising a US troop surge in Afghanistan had contributed to falling public support in Britain for the mission, Bob Ainsworth said yesterday.

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Police chief let drug smugglers pass, lawyer tells 'new era' trial

Tue, 24 Nov 2009 21:41:52 +0000

A police colonel accused of running a drug smuggling network went on trial in Kabul yesterday in a landmark prosecution by Afghanistan’s new anti-corruption taskforce. Diplomats hope that it marks the beginning of a new era in the fight against government corruption.

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Keith Bridges goes on trial for Dordogne car crash that killed four

Tue, 24 Nov 2009 21:41:52 +0000

A former police driver, who had chauffeured members of the Royal Family, went on trial yesterday accused of killing four of his passengers in a car crash on a French country lane while drunk.

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Japan’s Super-K project aims to research elusive neutrino particles

Tue, 24 Nov 2009 21:41:52 +0000

One of the most elaborate science experiments ever attempted, involving a vast underground cavern, 50,000 tonnes of ultra-pure water and thousands of light sensitive detectors got under way began yesterday. Its aim? To capture the neutrino, an elusive particle that has frustrated scientists for decades.

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Brown backs Zimbabwe's return to the Commonwealth fold

Tue, 24 Nov 2009 21:30:23 +0000

Britain is behind plans to bring Zimbabwe back into the Commonwealth in two years. Gordon Brown will urge a summit in Trinidad this weekend to hold out the prospect of readmission to encourage the unity government in Harare to carry out a wide range of political and human rights reforms. >

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Enthusiastic crowds greet Queen in Bermuda amid row over Guantanamo detainees

Tue, 24 Nov 2009 21:30:23 +0000

Anniversaries, it might have occurred to the Queen as she stepped off the plane at the start of her state visit to Bermuda, can be bitter-sweet occasions. Her arrival gave her two to think about: not only is this year the 400th anniversary of the settlement of Bermuda by the survivors of an English shipwreck, but yesterday marked 56 years to the day after she became the first reigning monarch to visit the island, Britain’s oldest colony. >

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Google announces plans to digitise artefacts in Iraqi National Museum

Tue, 24 Nov 2009 21:12:54 +0000

Few tourists brave the violent streets of Baghdad to view the treasures of the Iraqi capital’s National Museum. Now there is one more reason to stay away. >

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Home Prices Post Monthly Gains

Tue, 24 Nov 2009 21:03:13 +0000

U.S. home prices logged their fifth monthly increase in September, according to the S&P; Case-Shiller home-price indexes, though prices are still lower from a year earlier.

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Facebook Sets Dual Class Stock Structure; No IPO Plans Just Yet (They Swear!)

Tue, 24 Nov 2009 21:01:32 +0000

Facebook today confirmed that it has created a dual class stock structure, a move that is going to increase speculation on the timing an an eventual IPO for the company. As the Wall Street Journal notes , the company will have Class A and B shares, with all current holders to be converted to Class B shares, with 10 votes each. That sets the stage for CEO Mark Zuckerberg and other early investors to maintain greater control of the company once they eventually sell stock to the public. The Journal notes that Facebook said in a statement that it has adopted a dual-class structure “because existing shareholders wanted to maintain control over voting on certain issues to help ensure the company can continue to focus on the long-term to build a great business.” Facebook said the dual-class structure “should not construed to signal the company is planning to public,” and added that “Facebook has no plans to go public at this time.” Okay, sure, whatever you ...

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ABC nixes Adam Lambert's 'Good Morning America' appearance -

Tue, 24 Nov 2009 20:51:22 +0000

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FDIC Fund Sinks Into the Red

Tue, 24 Nov 2009 20:46:59 +0000

The FDIC said the number of distressed banks in the U.S. rose to the highest level in 16 years, and the insurance fund to protect depositors swung to a negative balance.

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Facebook Creates Dual-Class Stock Structure

Tue, 24 Nov 2009 20:26:34 +0000

Facebook has established a dual class stock structure, a move that helps lay the groundwork for an eventual initial public offering.

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GlaxoSmithKline pulls swine flu vaccines in Canada - USATODAY.com

Tue, 24 Nov 2009 20:21:32 +0000

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Brocade: Canaccord Downgrades To Hold

Tue, 24 Nov 2009 19:57:56 +0000

Canaccord Adams analyst Paul Masnky today cut his rating on Brocade (BRCD) to Hold from Buy, cutting his price target on the stock to $8.50 from $10. The move comes amid a sell-off in the shares on disappointment with the company results for the fiscal fourth quarter ended October and its outlook for the October 2010 fiscal year. Adding to the pressure, Brocade today also denied previous reports that it had put itself up for sale. “The company is executing at the expense lines and cash-flow is attractive, but we believe the multiple won’t expand amid lackluster top-line performance,” he writes. Mansky says FY 2010 “is looking more back-end loaded,” and appears dependent on the pace of expanded busienss from its OEM relationships, “with a push out of the thesis and some arbitrage money still looking for an exit point, we view the sahres as likely range-bound for 3-6 months.” Brocade today is down 72 cents, or 9.3%, to $7.07.

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To surge or not? Reasons why Barack Obama delayed Afghan decision

Tue, 24 Nov 2009 19:38:48 +0000

It will have taken nearly three months. When President Obama addresses the American people on the subject of Afghanistan next week, a formal request for enough troops to conduct a fully-fledged counter-insurgency there will have been on his desk since early September. >

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Court: Land Can Be Seized for Arena

Tue, 24 Nov 2009 19:32:41 +0000

New York's top court ruled that the state can use eminent domain for a massive development in Brooklyn that includes an arena for the New Jersey Nets.

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Fed Raises Growth Forecasts

Tue, 24 Nov 2009 19:21:50 +0000

Fed officials upgraded their reading of economic growth, but predicted inflation would be slightly lower than previously believed on the back of a soft recovery.

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Paper reports Notre Dame's Clausen punched outside restaurant - Campus Rivalry: College BCS Football News, Recruiting, Game Picks, and More - USATODAY.com

Tue, 24 Nov 2009 18:51:24 +0000

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ABC nixes Adam Lambert's 'Good Morning America' appearance - Lifeline Live - USATODAY.com

Tue, 24 Nov 2009 18:51:24 +0000

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South Carolina governor faces 37 state ethics charges - USATODAY.com

Tue, 24 Nov 2009 17:51:23 +0000

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More Charges in Satyam Scam

Tue, 24 Nov 2009 17:10:20 +0000

India's federal probe agency said it has filed additional charges against 10 people accused in the accounting scam at software exporter Satyam Computer Services.

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Las Vegas' new CityCenter, a big gamble, prepares to open - USATODAY.com

Tue, 24 Nov 2009 16:51:23 +0000

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Israel and Hamas try to still frenzy over Gilad Schalit release

Tue, 24 Nov 2009 16:43:26 +0000

Both Israeli leaders and Hamas officials today attempted to dampen a frenzy of anticipation that a captured Israeli soldier is about to be released in exchange for hundreds of hardened Palestinian militants, even as last minute preparations for a deal went ahead.

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EU Closes Qualcomm Probe

Tue, 24 Nov 2009 16:41:32 +0000

The European Commission closed a four-year antitrust investigation into chip maker Qualcomm without levying a fine or absolving the company without taking any action, putting to rest one of its last outstanding monopoly-abuse probes of a U.S. technology company.

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GM Plan to Sell Saab Collapses

Tue, 24 Nov 2009 16:24:15 +0000

GM's sale of its Saab unit has fallen through after the brand's expected buyer, Scandinavian auto maker Koenigsegg, pulled the plug on the deal.

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Obama Welcomes India Prime Minister

Tue, 24 Nov 2009 16:00:38 +0000

Obama and Singh opened a state visit that will include talks designed to overcome differences on climate change and U.S. ties with China and Pakistan.

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Yingli Slips As Broadpoint Downgrades

Tue, 24 Nov 2009 15:58:44 +0000

Yingli Green Energy (YGE) Shares are trading lower this morning after Broadpoint.Amtech analyst John Hardy cut his rating on the stock to Neutral from Buy. Hardy says a beat-and-raise solar earnings season is now finished; with “big guidance for Q1,” he writes, the risk is now that the 2010 first half will disappoint. In particular, he sees risks for Yingli as it gets ready to turn on significant polysilicon manufacturing capacity. “With commercial production expected to begin in Q4, we believe this will likely become an even bigger focus for investors,” he writes. Hardy notes that early cost targets are in line current spot poly pricing at $60/kg, creating risks to margins in the early stages of the project. Hardy also says that the company’s balance sheet “remains an eyesore,” with $389 million in cash against $820 million in debt. But the stock nonetheless trades in line with other solar companies at about 17.5x 2010. He says paying more than ...

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Midwest Airlines, Virgin America top Zagat poll of fliers - USATODAY.com

Tue, 24 Nov 2009 15:51:22 +0000

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Analysis: Mindanao island is most lawless part of the Philippines

Tue, 24 Nov 2009 15:43:21 +0000

In its politics, geography, climate and its extraordinary mix of people, the southern Philippines island of Mindanao is one of the wildest, most violent and most lawless parts of Asia.

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Rajaratnam Responds to SEC

Tue, 24 Nov 2009 15:41:51 +0000

Galleon's Raj Rajaratnam denied he received or traded on material, nonpublic information about Google or other companies as alleged in the SEC's civil insider-trading case.

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FDIC Fund Sinks Into the Red

Tue, 24 Nov 2009 15:35:01 +0000

The FDIC said the number of distressed banks in the U.S. rose to the highest level in 16 years, and the insurance fund to protect depositors swung to a negative balance.

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Kraft Ties Banks to Cadbury Bid

Tue, 24 Nov 2009 15:31:19 +0000

Kraft has extracted exclusivity agreements from the banks it is using to finance its £9.9 billion bid for Cadbury, leaving contenders with few other banks to choose from.

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Stocks Fall after GDP Revision

Tue, 24 Nov 2009 15:15:31 +0000

The economy's Q3 growth rate was revised lower to 2.8% from 3.5%. Traders Tuesday also weighed data on home prices and consumer confidence

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Security clampdown in Thailand over fear of disruption to King's birthday

Tue, 24 Nov 2009 15:11:31 +0000

The Thai Government invoked a tough security law today because of fears that "Red Shirt" supporters of the ousted Prime Minister Thaksin Shinawatra will run riot this weekend and disrupt ceremonies marking the birthday of the country’s revered king.

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President Obama to announce Afghanistan surge next week

Tue, 24 Nov 2009 14:52:26 +0000

President Obama will next week announce a surge of at least 25,000 new US troops to Afghanistan in a speech to the nation, according to US officials today.

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Robert Pattinson, Kristen Stewart: Are they or aren't they? - USATODAY.com

Tue, 24 Nov 2009 14:51:23 +0000

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Fort Hood suspect Major Hasan 'may plead not guilty on grounds of insanity'

Tue, 24 Nov 2009 14:36:11 +0000

The US Army psychiatrist accused of shooting dead 12 soldiers and a civilian at Fort Hood is likely to plead not guilty to the charges against him, his lawyer said today.

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Housing Data Revive Futures

Tue, 24 Nov 2009 14:24:11 +0000

Stock futures moved back into the black after data showed U.S. home prices logged a fifth monthly increase in September.

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U.S. GDP Growth Revised Lower

Tue, 24 Nov 2009 13:35:09 +0000

The U.S. economy's recovery wasn't as strong as earlier believed, as GDP growth was revised down to 2.8% amid a wider trade deficit and lower consumer spending.

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Tax Burden Slips in OECD Countries

Tue, 24 Nov 2009 13:02:49 +0000

The average tax burden for the private sector in countries within the OECD dropped in 2008 as some countries lowered their tax rates to aid economic recovery and activity slowed, reducing tax receipts.

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Carla Bruni to make acting debut in Woody Allen film

Tue, 24 Nov 2009 12:54:13 +0000

Carla Bruni, the singer-model wife of President Sarkozy, is to make her debut as an actress, appearing in a forthcoming film directed by Woody Allen.

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Bank Montreal to Buy Diners Club

Tue, 24 Nov 2009 12:46:26 +0000

Bank of Montreal agreed to buy Citigroup's Diners Club North American franchise, giving the big Canadian chartered bank exclusive rights to issue Diners cards in the U.S. and Canada.

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Warner Music Swings to Loss

Tue, 24 Nov 2009 12:28:58 +0000

Warner Music swung to a surprise loss amid a revenue slump in U.S. music sales and higher costs.

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Abu Dhabi Plans 65,000-Seat Stadium

Tue, 24 Nov 2009 12:21:47 +0000

Abu Dhabi plans to build the largest sports stadium in the United Arab Emirates as it seeks to invest $100 billion on new infrastructure to attract visitors.

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GM Has Repaid German Loan, Merkel Says

Tue, 24 Nov 2009 11:48:27 +0000

GM has repaid a bridge loan for its Opel unit to the German government, Chancellor Angela Merkel said, adding the aid had been crucial to keep the German car maker afloat.

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Early Spending Suggests Hot Season for Electronics

Tue, 24 Nov 2009 11:34:17 +0000

Trends suggest electronics sales may be solid during the holiday shopping season while sales of apparel could get pummeled.

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King: U.K. Needs to Eliminate Deficit

Tue, 24 Nov 2009 11:26:34 +0000

BOE governor Mervyn King stressed the need for a credible plan to put the public finances on a sustainable path, saying the government should eliminate the structural budget deficit over the course of the next parliament.

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Lloyds Prices Rights Issue at Discount

Tue, 24 Nov 2009 11:25:47 +0000

The U.K. bank priced the largest-ever rights issue at 61 cents a share, a 60% discount from Monday's closing price.

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