Friday, October 30, 2009

Daily News Digest: Business News

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Friday, October 30, 2009 12:01 AM PDT
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Today's Business News:
Sony reports quarterly loss of $289 million
Thu, 29 Oct 2009 11:40 pm PDT
AP - Sony is reporting a smaller-than-expected 26.3 billion yen loss ($289 million) for the July-September quarter as the Japanese electronics and entertainment maker slowly recovers from the global slump. Full Story
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Asian markets snap losing streak on US growth
Thu, 29 Oct 2009 11:21 pm PDT
AP - Asian stock markets snapped three days of losses Friday after the U.S. economy broke out of a year-long slump, spurring hopes of improved demand for the region's exports. Full Story
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Hebrew, Hindi, other scripts get Web address nod
Thu, 29 Oct 2009 11:16 pm PDT
AP - The nonprofit body that oversees Internet addresses approved Friday the use of Hebrew, Hindi, Korean and other scripts not based on the Latin alphabet in a decision that could make the Web dramatically more inclusive. Full Story
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Samsung 3Q profit triples to record as sales jump
Thu, 29 Oct 2009 11:07 pm PDT
AP - Samsung Electronics Co. said third-quarter net profit tripled to a record amid increased sales of flat screen TVs and mobile phones and higher prices for computer memory chips. Full Story
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iPhone comes to China without key feature
Thu, 29 Oct 2009 11:01 pm PDT
AP - Apple's iPhone is making its long-awaited formal debut in the world's most populous mobile phone market, without a key feature and at higher prices than widely available black market models. Full Story
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A look at economic developments around the globe
Thu, 29 Oct 2009 11:13 am PDT
AP - A look at economic developments and activity in major stock markets around the world Thursday: Full Story
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Wasteful Growth
Thu, 29 Oct 2009 03:54 pm PDT
Investor's Business Daily - Economy: As we said as far back as February, it was likely the U.S. economy would grow by the third quarter of this year. Well, it did -- and the 3.5% rebound was better than expected. But hold the hallelujahs, at least for now. Full Story
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Sony posts loss for 4th straight quarter
Thu, 29 Oct 2009 11:12 pm PDT
Reuters - Sony Corp (6758.T) posted a loss for a fourth consecutive quarter, hit by sluggish cellphone sales and as it cut prices of its PlayStation 3 game console, but it narrowed its full year loss forecast. Full Story
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FTSE 100 jumps up on positive US data
Thu, 29 Oct 2009 10:24 am PDT
AFP - The leading stock exchange jumped back up on Thursday on news that the United States, the world's biggest economy, emerged from recession in the third quarter. Full Story
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Rates on 30-year loans rise to 5.03 percent
Thu, 29 Oct 2009 10:36 am PDT
AP - Rates for 30-year home loans climbed to 5.03 percent this week, the third consecutive weekly increase. Full Story
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Retailer Target Corp. cuts 85 jobs in marketing
Thu, 29 Oct 2009 02:13 pm PDT
AP - Retailer Target Corp. said Thursday it is cutting some 85 marketing jobs, representing about 8 percent of its 1,100 employees in that department. Full Story
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Economy - Thursday
Thu, 29 Oct 2009 03:59 pm PDT
Investor's Business Daily - After 3 weeks at 5% or below, the 30-year fixed rate inched up 3 ticks to 5.03% this week, following mixed signals on the health of the housing market, Freddie Mac said. Rates have risen from April's record-low 4.78%, but fixed borrowing costs have averaged just under 5% this year, the lowest since records began in 1971. As a result, refinance activity has made up on average nearly 70% of mortgage applications this year. Full Story
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Fire at India oil depot kills 5; 150 injured
Thu, 29 Oct 2009 09:43 pm PDT
AP - Indian army troops Friday began efforts to put out a massive fire raging at an oil depot in western India that left at least five people dead, 150 injured and six others trapped, an official said. Full Story
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UK mortgage approvals up 6 pct in September
Thu, 29 Oct 2009 03:18 am PDT
AP - Mortgage approvals in the U.K. rose 6 percent in September as the country's battered housing market improved, but cautious consumers paid off debt faster than they borrowed, the Bank of England said Thursday. Full Story
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Senate Now Likely To Extend Homebuyer's Tax Credit
Thu, 29 Oct 2009 10:58 am PDT
CQPolitics.com - With blessings from the Obama administration, the Senate now appears likely to pass a bipartisan compromise extending and expanding a tax credit for homebuyers. Full Story
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A New Executive-Search Business Model
Thu, 29 Oct 2009 05:08 am PDT
BusinessWeek - Most in business would agree that one key to success lies in valuing the differences and experiences that each individual on your team represents. That's what good team building and performance is all about. Few think of this as diversity, but at its core, diversity is about valuing the difference that each person brings to the organization. Full Story
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Willingness to Take Initiative
Thu, 29 Oct 2009 05:08 am PDT
BusinessWeek - "If you can figure out how to be comfortable with ambiguity, general management will be a great track for you," our strategic management professor told us on our last day of class last spring. My new venture creation professor similarly stressed embracing uncertainty and forging ahead with a business idea. "You need to validate the market," he explained, "but at some point the only way to learn more is to get started." He enumerated companies whose business models had completely changed within two years of launching. ... Full Story
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