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Rajat Gupta Convicted of Insider Trading

 

By PETER LATTMAN and AZAM AHMED 12 minutes ago

 

Rajat K. Gupta, the retired head of the consulting firm McKinsey & Company and a former Goldman Sachs board member, is the most prominent executive convicted in the government's sweeping investigation into insider trading on Wall Street.

dbpix-gupta-convicted-sfSpan.jpg

Andrew Kelly/Reuters

 

Former Goldman Sachs Group member Rajat Gupta was convicted Friday of insider trading.

 

 

 

Euro Watch

 

16eurozone-image-thumbStandard.jpg

Central Bank Chief Says He’s Set to Step In After Greek Vote

 

By DAVID JOLLY 9:15 AM ET

 

Mario Draghi’s comments were a reminder that European authorities are intent on setting up structures to prevent further crises.

 

 

Grexitjp1-thumbStandard.jpg

Europe Braces for Greek Vote — and Maybe More

 

By JACK EWING and PAUL GEITNER

 

Greek elections on Sunday could soon bring real-world urgency to a debate that had been largely academic: Whether the euro zone can withstand the departure of one of its members.

 

 

DealBook

 

Hong Kong Exchange to Buy London Metal Exchange for $2.1 Billion

 

By MARK SCOTT 12:48 PM ET

 

The Asian firm outbid several American rivals for control of the 135-year-old London exchange.

 

DealBook

 

Egypt's Disarray Puts a Regional Investment Bank in Play

 

By STANLEY REED and SARA HAMDAN

 

EFG-Hermes, struggling in a volatile market, is scrambling to sell a large piece of its business to a smaller rival in Qatar.

 

15airports-thumbStandard-v2.jpg

Airports Focus on the Ground

 

By JAD MOUAWAD

 

The need to accommodate bigger airplanes and a growing number of foreign carriers has helped spur many of the new investments.

 

Despite Price Drop, Oil Cartel Keeps Production Limit

 

By ANDREW E. KRAMER

 

The decision leaves Saudi Arabia to decide on its own whether to influence prices by adjusting output before the next OPEC meeting in December.

 

15stanford-thumbStandard.jpg

Stanford Sentenced to 110-Year Term in $7 Billion Ponzi Case

 

By CLIFFORD KRAUSS

 

A federal jury in March convicted R. Allen Stanford of 13 out of 14 counts of fraud in connection with a worldwide scheme over more than two decades.

 

Kidney-thumbStandard.jpg

Dialysis Company’s Failure to Warn of Product Risk Draws Inquiry

 

By ANDREW POLLACK

 

The company, Fresenius Medical Care, may have failed to tell customers that one of its products was connected to a potentially lethal risk.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Debt crisis: IMF urges Europe to help Ireland refinance bailout

 

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The IMF has urged Europe to help Ireland refinance its crippling bank bailout and consider taking equity in state-owned banks to help Dublin return to bond markets and avoid a second bailout.

17 Comments

Debt crisis: as it happened - June 15, 2012

 

 

Gordon Brown: France and Italy may need a bail-out

 

 

Italy to sell €10bn assets to cut debt and pay bills

 

 

UK recovery hopes dealt export blow

 

 

 

 

No guarantee £140bn stimulus plan will work

 

combo_2248711g.jpg

Banks are 'ready and willing' to get behind a multi-billion pound scheme to prevent a second credit crunch but City and industry experts warned on Friday there is no guarantee the plan will kickstart lending.

207 Comments

Banks shares jump on Osborne's £140bn stimulus plan

 

 

FTSE rises as £140bn stimulus boosts banks

 

 

Osborne unveils £140bn scheme to kick-start stagnant economy

 

 

Sir Mervyn King says banks must urgently rebuild buffers

 

 

 

Ryanair faces forced sale of Aer Lingus stake

 

oleary_2249850g.jpg

Ryanair faces the prospect of being forced to sell down its 29.8pc stake in Aer Lingus after the Office of Fair Trading referred the six-year old holding to the Competition Commission.

2 Comments

 

Hong Kong wins race to buy LME

 

lme-2_2249210g.jpg

Hong Kong Exchanges and Clearing, in which the Chinese government is the largest shareholder, has agreed a deal to buy the 135-year-old London Metal Exhange for £1.4bn, beating off competition from US-listed ICE.

8 Comments

 

Jaguar Land Rover sales rise 35pc in May

 

evoque_2217340g.jpg

Jaguar Land Rover sales grew by another 35pc in May despite the deepening eurozone crisis causing worldwide economic uncertainty.

Comment

 

Sly steps down at Mirror with close to £1m

 

Debt crisis Q&A: What do the Greek elections mean for Europe?

 

 

 

Gordon Brown: France and Italy may need a bail-out

 

 

 

 

ECB ready to rescue struggling banks

 

Funding lifeline for the banks highlights how deep the crisis is

 

UK economy is so depressed there could be little demand for credit

 

America will soon need to take advice it offers Europe

 

Court ruling could force motor insurance premiums to rise by 25pc

 

PF-Whiplash_1114496g.jpg

Customers could face yet more hikes in their car insurance after a court ruling that experts fear could lead to minor repairs costing 25pc more.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Empire Index: Collapse!

Oh my, this is not good...

The June
Empire State Manufacturing Survey
indicates that manufacturing activity expanded slightly over the month. The general business conditions index fell fifteen points, but remained positive at 2.3. The new orders index declined six points to 2.2, and the shipments index fell a steep nineteen points to 4.8. Price indexes were markedly lower, with the prices paid index falling eighteen points to 19.6 and the prices received index dropping eleven points to 1.0. Employment indexes also retreated, though they still indicated a small increase in employment levels and a slightly longer average workweek. Indexes for the six-month outlook were generally lower than last month’s levels, suggesting that optimism was waning somewhat, with the future general business conditions index falling to 23.1, its fifth consecutive monthly decline.

Eek.

New orders are nearly flat as are shipments. Unfilled orders are negative and have been for a year, meaning that there is no pressure on manufacturing (no backlog) at all. Inventories are now into depletion and prices paid have collapsed, so there is no pressure on suppliers either.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Doubts growing over business lending plan

 

16 June 2012 12:00 AM

£80bn scheme could fall flat as companies shun borrowing, City warns ministers

 

 

 

3-Portas-main.jpg

Off with her head! How Mary Queen of Shops enraged Margate's traders

 

16 June 2012 12:00 AM

Retail guru is accused of putting needs of her TV show above those of the resort she is trying to save

 

 

 

Chinese buy London Metal Exchange in £1.4bn takeover

 

16 June 2012 12:00 AM

One of Britain's last great independent financial markets has agreed to sell itself to China.

 

 

 

Ex-Goldman director Gupta found guilty of insider trading

 

16 June 2012 12:00 AM

Rajat Gupta, a former board member at Goldman Sachs, has been convicted of illegally sharing bank secrets with a hedge fund friend, in a victory for prosecutors of insider dealing on Wall Street.

 

 

 

33-Carphone-warehouse-pa.jpg

Politics & business: Carphone Warehouse founder gets the call

 

16 June 2012 12:00 AM

A leading member of the "Chipping Norton set", which also includes David Cameron and Rebekah Brooks, is today knighted.

 

 

 

Sly Bailey's early exit from Trinity Mirror

 

16 June 2012 12:00 AM

Sly Bailey left Trinity Mirror yesterday with immediate effect, as the troubled newspaper group performed a U-turn on plans for her to stay until the end of the year.

 

 

 

SSE in €488m Irish power play

 

16 June 2012 12:00 AM

Scottish & Southern Energy is to spend €488m (£397m) buying up power stations in Ireland, making Britain's second-biggest energy supplier the number three in the Emerald Isle.

 

 

 

Plus Markets sells its platform for £1

 

16 June 2012 12:00 AM

The beleaguered junior stock market Plus Markets yesterday sold its technical trading platform for a nominal £1 to its employees and other individuals.

 

 

 

Japan in £41m buy from Premier Foods

 

16 June 2012 12:00 AM

Britain's best-known vinegar and pickles brands have been sold to the Japanese in a £41m deal.

 

 

 

A&B warns gold boom is slowing

 

16 June 2012 12:00 AM

There was a profit warning in all but name yesterday from the pawnbroker Albemarle & Bond, one of the few businesses that can honestly claim to have found the extended recession a boon to business – at least until now.

 

 

 

Coryton in doubt as state aid is denied

 

16 June 2012 12:00 AM

The future of the financially stricken Coryton refinery in Essex, which supplies around 20 per cent of London and the South-east's fuel, was in further doubt yesterday as it emerged the Government will not keep it alive with state aid.

 

 

 

Chinese buy London Metal Exchange in £1.4bn takeover

 

16 June 2012 12:00 AM

One of Britain's last great independent financial markets has agreed to sell itself to China.

 

 

 

Coryton in doubt as state aid is denied

 

16 June 2012 12:00 AM

The future of the financially stricken Coryton refinery in Essex, which supplies around 20 per cent of London and the South-east's fuel, was in further doubt yesterday as it emerged the Government will not keep it alive with state aid.

 

 

 

A&B warns gold boom is slowing

 

16 June 2012 12:00 AM

There was a profit warning in all but name yesterday from the pawnbroker Albemarle & Bond, one of the few businesses that can honestly claim to have found the extended recession a boon to business – at least until now.

 

 

 

Japan in £41m buy from Premier Foods

 

16 June 2012 12:00 AM

Britain's best-known vinegar and pickles brands have been sold to the Japanese in a £41m deal.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

After Greece, the worries only mount

 

LONDON - The Greek elections set the stage for a volatile week in the financial markets but, barring a surprisingly negative result, immediate policy changes look unlikely though a heavy schedule of high level meetings will keep investors on edge.

 

BP resumes oil flows via Baku-Supsa pipeline

 

BAKU - BP said on Saturday it has resumed oil supplies via the Baku-Supsa pipeline, halted on May 15 due to maintenance.

4:29pm BST

 

Waddell & Reed lift F1 stake in $500 million deal

 

LONDON - U.S. asset management company Waddell & Reed increased its stake in the Formula One motor racing business to 20.9 percent from around 14.4 percent in a $500 million (318.07 million pounds) deal after the motor racing business put flotation plans on hold.

Sports, Formula One, 12:19pm BST

 

Total petrochemical unit probed over deadly blast

 

PARIS - Total Petrochemicals France has been put under a manslaughter investigation over a blast at a plant in eastern France that killed two people, its parent company said on Saturday.

5:16pm BST

 

Greenland's minerals loom in China-Denmark ties

 

COPENHAGEN - Chinese President Hu Jintao's three-day visit to Denmark may ostensibly have been about signing billions worth of business deals, but a stake in Greenland's huge mineral wealth may have been the elephant in the room.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

16 June 2012 Last updated at 00:27

 

 

Bank shares jump on stimulus move_60930464_011741368-1.jpg

 

Bank shares have jumped in the wake of plans from the Bank of England to launch two new stimulus packages. 1353

 

 

_60947176_015052756-1.jpgCarphone Warehouse boss knighted

 

Charles Dunstone, founder and chairman of the Carphone Warehouse Group, has been knighted in the Queen's birthday honours list.

 

 

_60948783_014660394-1.jpgFacebook technology chief leaves

 

Facebook's chief technology officer announces he is leaving the social network site in the coming weeks to start up a new company.

 

 

 

Eurozone in crisis

 

 

 

 

 

 

Other top stories

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

You for Sale: Mapping, and Sharing, the Consumer Genome

 

By NATASHA SINGER

 

 

Few consumers may have heard of Acxiom, a database marketer. But it has amassed the world’s largest commercial data trove about them, analysts say.

 

 

 

17data-sf-sfSpan.jpg

Minh Uong/The New York Times

 

 

 

 

 

 

 

 

17-PAY-JP1-thumbStandard.jpg

C.E.O. Pay Is Rising Despite the Din

 

By NATHANIEL POPPER

 

Although more companies have given heir shareholders say-on-pay votes, median compensation still climbed by 5 percent last year among the nation’s 200 top-paid chief executives.

 

Whatever Greek Voters Decide, the Euro Looks Likely to Suffer

 

By NELSON D. SCHWARTZ

 

Greek voters will chart the immediate course of their nation’s role in the euro zone, but the currency’s problems look to be longer-lasting.

 

 

European Leaders to Present Plan to Quell the Crisis Quickly

 

By JACK EWING 12:40 PM ET

 

The plan will include measures to prevent bank runs and push for the repeal of regulations that hinder competition, keep young people out of the work force or make it difficult to start businesses.

 

Workstation

 

17-CAREER-thumbStandard.jpg

To Stay on Schedule, Take a Break

 

By PHYLLIS KORKKI

 

Making time in your workday for a few minutes of daydreaming or a walk around the block can help you improve your productivity and avoid stress.

 

The Boss

 

17-BOSS-thumbStandard.jpg

Goodbye, Bell Bottoms

 

By JOHN W. THOMPSON

 

John W. Thompson describes his journey from sales rep at I.B.M. to chief executive of Symantec and now Virtual Instruments.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

[/url]

 

Debt crisis: tensions mount as Merkel attacks French economy

 

hollande_2229765g.jpg

Deepening splits between Angela Merkel and François Hollande erupted into the open on Friday as the German chancellor attacked Paris for allowing the French economy to stall.

1069 Comments

Debt crisis: as it happened - June 15, 2012

 

 

Brown: France and Italy may need bailout

 

 

Banks prepare for worldwide chaos after weekend election

 

 

Moody's downgrades 10 eurozone banks

 

 

 

 

Brown: France and Italy may need bailout

 

gordon-brown-620_2244800g.jpg

World leaders must draw up “concerted global action plan” to deal with the eurozone crisis at G20 summit, Gordon Brown warns.

646 Comments

 

CVC cuts stake in Formula One

 

engineer_1898210g.jpg

CVC, the private equity firm that controls Formula One, has sold a $500m (£318m) stake in the sport to US fund manager Waddell & Reed.

1 Comment

 

£140bn 'will do little to kick-start growth'

 

combo_2248711g.jpg

Banks are 'ready and willing' to get behind a multi-billion pound scheme to prevent a second credit crunch but City and industry experts warned on Friday there is no guarantee the plan will kickstart lending.

169 Comments

Banks shares jump on Osborne's £140bn stimulus plan

 

 

FTSE rises as £140bn stimulus boosts banks

 

 

Osborne unveils £140bn scheme to kick-start stagnant economy

 

 

Sir Mervyn King says banks must urgently rebuild buffers

 

 

 

Rajat Gupta found guilty of insider trading

 

gupta_2249719g.jpg

Rajat Gupta, who sat on the boards of Goldman Sachs and Procter & Gamble, was found guilty by a New York jury of passing on confidential informtion about the companies to a hedge fund.

 

Ryanair faces forced sale of Aer Lingus stake

 

oleary_2249850g.jpg

Ryanair faces the prospect of being forced to sell down its 29.8pc stake in Aer Lingus after the Office of Fair Trading referred the six-year old holding to the Competition Commission.

9 Comments

 

Jaguar Land Rover sales rise 35pc in May

 

 

 

 

Sly steps down at Mirror with close to £1m

 

History suggests capital controls could make things worse

 

greece_2249486g.jpg

Worried savers have been pulling their cash out of Greek banks at a rate of up to €1bn a day, and fears are growing that a bank-run could ensue if the radical Left Syriza party wins this weekend’s elections.

1 Comment

Debt crisis: nervous world awaits Greek polling day

 

 

 

 

Britain prepares for the gathering storm

 

 

 

 

£140bn lending scheme 'will do little to kick-start growth'

 

UK economy is so depressed there could be little demand for credit

 

America will soon need to take advice it offers Europe

 

Like a lamb London surrenders London Metal Exchange

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Billions to flow from PFI reform

 

17 June 2012 12:00 AM

Treasury hopes new private finance initiative will see pension funds act like banks

 

 

Promoter slams BBC's free festivals

 

17 June 2012 12:00 AM

Vince Power demands Government explains why broadcaster is allowed to spend taxpayers' money on massive music events

 

 

Profits fall at Dixons

 

17 June 2012 12:00 AM

New boss James set to boost customer service investment

 

 

Greece to be redefined an 'emerging market'

 

17 June 2012 12:00 AM

Greece is poised to fall out of the leading group of developed economies and be redefined as an emerging market, a leading fund manager has warned.

 

 

 

More QE on the cards as eurozone troubles continue

 

17 June 2012 12:00 AM

The Bank of England could flood £50bn more into the struggling UK economy within weeks as the latest turbulence from the eurozone plays havoc with UK recovery hopes, experts warn.

 

 

 

More mergers waved through

 

17 June 2012 12:00 AM

European regulators are waving through more mergers without forcing sell-offs of parts of the larger combined businesses, despite vows to clamp down on anti-competitive acquisitions.

 

 

 

Sweet Dreams? Refinancing edges closer

 

17 June 2012 12:00 AM

Dreams, the struggling bed retailer, will move a step closer to a refinancing package this week when advisers to its banks make presentations on the management's strategic plans.

 

 

 

Sweet Dreams? Refinancing edges closer

 

17 June 2012 12:00 AM

Dreams, the struggling bed retailer, will move a step closer to a refinancing package this week when advisers to its banks make presentations on the management's strategic plans.

 

 

 

More QE on the cards as eurozone troubles continue

 

17 June 2012 12:00 AM

The Bank of England could flood £50bn more into the struggling UK economy within weeks as the latest turbulence from the eurozone plays havoc with UK recovery hopes, experts warn.

 

 

 

Billions to flow from PFI reform

 

17 June 2012 12:00 AM

Treasury hopes new private finance initiative will see pension funds act like banks

 

 

Profits fall at Dixons

 

17 June 2012 12:00 AM

New boss James set to boost customer service investment

 

 

Greece to be redefined an 'emerging market'

 

17 June 2012 12:00 AM

Greece is poised to fall out of the leading group of developed economies and be redefined as an emerging market, a leading fund manager has warned.

 

 

 

Promoter slams BBC's free festivals

 

17 June 2012 12:00 AM

Vince Power demands Government explains why broadcaster is allowed to spend taxpayers' money on massive music events

 

 

More mergers waved through

 

17 June 2012 12:00 AM

European regulators are waving through more mergers without forcing sell-offs of parts of the larger combined businesses, despite vows to clamp down on anti-competitive acquisitions.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Pro-bailout party narrowly ahead in pivotal Greek election

 

7:45pm BST

ATHENS - Greece's main pro-bailout parties could form a coalition government with the slimmest of majorities, according to updated exit polls on an election watched by the world to see if the debt-laden country stays in the euro zone.

Credit Suisse CEO says no plans for capital hike - paper

 

ZURICH - Credit Suisse has no plans to issue new shares after the Swiss central bank called on it to improve its capital base this year, but should be able to do so by retaining earnings, Chief Executive Brady Dougan was quoted as saying on Sunday.

 

Bankers sceptical over British mega-mobile deal

 

LONDON - The former head of Britain's biggest mobile phone company Everything Everywhere approached private equity groups six months ago about an eight billion pound buyout but found no takers, investment banking sources said.

16 Jun 2012

 

Total petrochemical unit probed over deadly blast

 

PARIS - Total Petrochemicals France has been put under a manslaughter investigation over a blast at a plant in eastern France that killed two people, its parent company said on Saturday.

16 Jun 2012

 

After Greece, the worries only mount

 

LONDON - The Greek elections set the stage for a volatile week in the financial markets but, barring a surprisingly negative result, immediate policy changes look unlikely though a heavy schedule of high level meetings will keep investors on edge.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

17 June 2012 Last updated at 17:07

 

 

Greek exit would be 'catastrophe'

 

A Greek exit from the euro would be a "major catastrophe", the former Greek Prime Minister George Papandreou has told the BBC.

 

 

_60962497_015066569-1.jpgMore reform needed, says Spain PM

 

Spanish Prime Minister Mariano Rajoy says action is needed to make the economy "more flexible and competitive" after the IMF calls for wider reforms.

 

 

 

_60947176_015052756-1.jpgCarphone Warehouse boss knighted

 

Charles Dunstone, founder and chairman of the Carphone Warehouse Group, has been knighted in the Queen's birthday honours list.

 

 

Eurozone in crisis

 

 

 

 

 

 

Other top stories

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

A Close Race in Greece as Returns Start to Trickle In

 

By RACHEL DONADIO 1:01 PM ET

 

Exit polls showed that the race was too close to call, with the conservative New Democracy party pulling ahead of the leftist Syriza coalition. Regardless of the outcome, world banks braced for uncertainty and market turmoil on Monday.

 

 

News Analysis

 

Worried Banks Pose Threat to Push for Financial Union

 

By LANDON THOMAS Jr. 10:33 AM ET

 

Banks and their national regulators, anxious about Greek elections and Spain's hastily arranged bailout, are behaving more parochially than ever.

 

You for Sale: Mapping, and Sharing, the Consumer Genome

 

By NATASHA SINGER

 

 

Few consumers may have heard of Acxiom, a database marketer. But it has amassed the world’s largest commercial data trove about them, analysts say.

 

 

 

 

17-DATA-JP1-sfSpan.jpg

Justin Bolle for The New York Times

 

Acxiom’s headquarters in Little Rock, Ark. Analysts say the company has amassed the world’s largest commercial database on consumers.

 

 

 

 

 

 

 

17-PAY-JP1-thumbStandard.jpg

C.E.O. Pay Is Rising Despite the Din

 

By NATHANIEL POPPER

 

Although more companies have given their shareholders say-on-pay votes, median compensation still climbed by 5 percent last year among the United States’ 200 top-paid chief executives.

 

 

CHINA-REFORM-thumbStandard.jpg

China Closes Window on Economic Debate, Protecting Dominance of State

 

By IAN JOHNSON

 

Fewer prominent voices are able to make the case for a systemic overhaul that would encourage private enterprise and foster a shift toward a more consumer-driven economy.

 

Whatever Greek Voters Decide, the Euro Looks Likely to Suffer

 

By NELSON D. SCHWARTZ

 

Greek voters will chart the immediate course of their nation’s role in the euro zone, but the currency’s problems look to be longer-lasting.

 

 

European Leaders to Present Plan to Quell the Crisis Quickly

 

By JACK EWING

 

The plan will include measures to prevent bank runs and push for the repeal of regulations that hinder competition, keep young people out of the work force or make it difficult to start businesses.

 

Workstation

 

17-CAREER-thumbStandard.jpg

To Stay on Schedule, Take a Break

 

By PHYLLIS KORKKI

 

Making time in your workday for a few minutes of daydreaming or a walk around the block can help you improve your productivity and avoid stress.

 

The Boss

 

17-BOSS-thumbStandard.jpg

Goodbye, Bell Bottoms

 

By JOHN W. THOMPSON

 

John W. Thompson describes his journey from sales rep at I.B.M. to chief executive of Symantec and now Virtual Instruments.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

The Upcoming Healthcare Debacle

 

The Supremes are scheduled to rule before the end of the month on Obamacare. If you read the punditry, the expectations are that some or all of it will be struck as unconstitutional. That would not surprise.

But what also does not surprise is the duplicity of everyone in the political sphere on the actual root cause of the problems in the medical system, and our refusal to address them. Witness this from the WSJ over the weekend:

In short, the GOP may be positioning itself to become the dog that caught the car. Political and policy uncertainty is perhaps inevitable given the range of what the Court could do. But the Republicans need a more coherent strategy, and more credible alternatives, to avoid reprising the payroll tax holiday debacle of last Christmas, except with generational consequences.

Republicans are down the line opposed to the individual mandate, but there's an internal debate about what to do if the Court also overturns the main insurance regulations. A sizable cargo cult within the GOP wants to preserve some Affordable Care Act provisions and favors passing stand-alone bills reinstating them if necessary. The idea circulating is that the Republican Party should consider a "keep the good stuff" approach.

Uh, yeah.

Nobody (except for a few like myself) are talking about what really happened with Medical Care and why we're here. In brief (which I've explained at great length) the mess began with EMTALA, the Reagan-era law mandating that anyone who shows up with an "emergent" condition be treated irrespective of ability to pay, and we compounded the errors up and down the line by providing the medical industry in all its forms with "protections" that allow it to behave in ways that are unacceptable in any other line of business (and in many are flatly felonious.)

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Markets braced for turmoil over knife-edge Greek poll

 

18 June 2012 12:00 AM

Anti-bailout party fails to win but unclear result signals fresh uncertainty in eurozone

 

 

Bank shares suffer over Spain fears

 

18 June 2012 05:23 PM

Fresh fears about the Spanish economy triggered a pummelling for bank shares today as markets failed to make meaningful gains following Greek elections.

 

 

 

Banks turn away even more firms seeking loans

 

18 June 2012 12:00 AM

Britain's banks have restarted their lending squeeze, starving small companies of credit, the Federation of Small Businesses (FSB) warns today.

 

 

 

Bid talks on for £8bn T-Mobile and Orange

 

18 June 2012 12:00 AM

Tom Alexander, the former chief executive of the Everything Everywhere mobiles group, has begun talks with one of its parent companies, France Telecom, over launching an £8bn takeover of the Orange and T-Mobile phones giant.

 

 

 

At last, RBS ex-bosses 'can be banned' from being directors

 

18 June 2012 12:00 AM

Disgraced former directors of Royal Bank of Scotland are likely to finally be disqualified from ever sitting on company boards again by the Business Secretary, Vince Cable.

 

 

 

Zuckerberg threatens to leave Nasdaq and key lieutenant quits

 

18 June 2012 12:00 AM

Facebook has suffered the first resignation of a top-flight executive since last month's controversial stock market flotation, adding to the headaches facing Mark Zuckerberg, who has seen the company's shares plummet since their debut.

 

 

 

Doc Martens bovver boots aim for £200m

 

18 June 2012 12:00 AM

The owners of Dr Martens, the British footwear brand, are seeking a price tag of as much as £200m from suitors, which is significantly more than was first expected.

 

 

 

Heavy-hitters lined up for competiton watchdog role

 

18 June 2012 12:00 AM

A former chairman of the US Federal Trade Commission and a top European official are "big hitters" that have been linked to chairing the UK's new competition regulator.

 

 

 

Ford walkout 'well supported'

 

18 June 2012 04:46 PM

A strike by staff at car giant Ford in a row over pay and pensions was said to be "extremely well supported" today.

 

 

 

Rolls-Royce to upgrade major UK plant

 

18 June 2012 04:35 PM

Rolls-Royce is to upgrade a major UK plant as part of a £1.1 billion contract from the Ministry of Defence to build reactor cores for the next generation of the UK's nuclear-armed submarines.

 

 

 

Inflation expected to remain at 3%

 

18 June 2012 12:41 PM

Inflation figures published tomorrow are expected to show that the squeeze on consumer spending maintained its grip in May.

 

 

 

Majestic Wine reports 15% profits rise

 

18 June 2012 12:14 PM

Wine merchant Majestic Wine raised a glass to a 15% rise in annual profits today as strong growth in vintages from Argentina, Italy and Spain helped drive sales.

 

 

 

Heavy-hitters lined up for competiton watchdog role

 

18 June 2012 12:00 AM

A former chairman of the US Federal Trade Commission and a top European official are "big hitters" that have been linked to chairing the UK's new competition regulator.

 

 

 

Doc Martens bovver boots aim for £200m

 

18 June 2012 12:00 AM

The owners of Dr Martens, the British footwear brand, are seeking a price tag of as much as £200m from suitors, which is significantly more than was first expected.

 

 

 

Zuckerberg threatens to leave Nasdaq and key lieutenant quits

 

18 June 2012 12:00 AM

Facebook has suffered the first resignation of a top-flight executive since last month's controversial stock market flotation, adding to the headaches facing Mark Zuckerberg, who has seen the company's shares plummet since their debut.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Breaking news

 

icon_rss.gif

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Relieved Europe hints at more time for Greece

 

7:44pm BST

BERLIN/ATHENS - Euro zone paymaster Germany, relieved at a narrow election victory for Greece's pro-bailout parties, signalled on Monday it may be willing to grant Athens more time to meet its fiscal targets to avert a catastrophic euro exit.

Greek vote boost peters out for UK equities market

 

LONDON - UK equities closed slightly higher on Monday, slipping off one-month highs as initial euphoria after Greek elections reduced the chances of an imminent euro exit quickly gave way to the realisation that the region's crisis is still far from resolved.

 

Man Group finance head exits as "fightback" begins

 

MONACO/LONDON - Embattled hedge fund firm Man Group Plc dropped its finance chief on Monday in its latest management reshuffle designed to regain investor confidence and reverse poor performance at the flagship AHL fund.

3:23pm BST

 

Flotation of Germany's Evonik put on ice

 

DUESSELDORF, Germany - The owners of German chemical company Evonik scrapped plans for what could have been Europe's biggest initial public offering (IPO) in more than a year and said it would only resume efforts for a listing if markets recover.

4:51pm BST

 

Europe shale push shaken by Exxon's Poland pullout

 

WARSAW - Europe's most ambitious shale gas plans were in disarray on Monday after U.S. major ExxonMobil announced it would pull out of exploration projects in Poland.

6:22pm BST

 

AXA private equity raises $8 billion for bank asset buys

 

LONDON - AXA Private Equity has raised a larger than expected $8 billion (5 billion pounds) from investors, much of which it will use to take assets off the hands of banks cutting down their exposure in the face of growing pressure from regulators.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

18 June 2012 Last updated at 18:33

 

 

Banking stocks fall on Greek vote_60968994_145944263.jpg

 

European banking stocks fall sharply despite voters in Greece backing the pro-bailout New Democracy party in Sunday's elections.

 

 

_60985099_g20_afp.jpgG20 begins to grapple with crisis

 

Meetings between world leaders begin ahead of the G20 summit, at the Mexican resort of Los Cabos, against a backdrop of crisis in the eurozone.

 

 

 

_60971334_014821320-1.jpgTesco to leave Japanese market

 

Tesco is to exit Japan in a two-stage process that will first see it sell a half-stake in its Japanese business to the country's Aeon group.

 

 

Eurozone in crisis

 

 

 

 

 

 

Other top stories

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

[/url]

 

David Cameron: 'muddle-headed' thinking threatens global economy

 

cameron_2252016g.jpg

Prime minister outlines five key threats to the global economy, including the "muddle-headed" thinking that over-indebted countries can spend their way out of trouble.

2426 Comments

Greek election result offers no relief for suffering population

 

 

EC not considering Irish bail-out extension

 

 

Greece must 'get on with it' or face consequences, says Cameron

 

 

Greek politicians in race to form coalition

 

 

Bundesbank warns of uncertain economic outlook for Germany

 

 

 

 

SFO drops investigation into Vincent Tchenguiz

 

tchenguiz_1989886b_2250936g.jpg

The Serious Fraud Office has dropped a 15-month investigation into Vincent Tchenguiz, the property entrepreneur.

Vincent Tchenguiz prepares to sue SFO for £100m

 

 

 

Cable calls for state support for house building

 

Vince_Cable__prema_2251540g.jpg

The Government must underwrite the cost of building new social houses to help boost economic growth, Vince Cable has urged.

15 Comments

 

Rolls-Royce confirms £1bn nuclear sub deal

 

sub_2121253g.jpg

Rolls-Royce confirms it has won a Ministry of Defence contract worth more than £1bn to make reactor cores for Britain's nuclear submarine fleet, as part of the replacement of Trident.

9 Comments

 

CWW investors back £1bn Vodafone bid

 

v_1861907g.jpg

Vodafone moved closer to taking over Cable & Wireless Worldwide after 88pc of investors voted to accept an £1.04bn offer which will create Britain's second largest telecoms operator.

6 Comments

 

Guardian sees losses widen on US expansion

 

 

 

 

Osborne urged to do more to help swap mis-selling victims

 

 

 

 

Tesco pays £40m to exit Japan

 

 

 

 

Man Group finance director resigns

 

 

 

 

Melrose confirms $2bn Elster bid talks

 

Don't expect any solutions from the international junketing in Mexico

 

There's so much hot air around, no wonder Melrose is bidding

 

Greek agony drags on as Asphyxiation Bloc wins

 

Greece will be forced to seek third bail-out

 

greeceflag_2115363f.jpg

Greece expected to ask for more help as soon as a government is formed.

 

EU not at G20 to take lessons on economy, says Jose Manuel Barroso

 

barroso_2252029g.jpg

Europe did not come to the G20 summit to take lessons in "how to handle the economy," the president of the European Commission insisted on Monday, as the Continent's debt crisis dominated a tense first day at the Mexican resort of Los Cabos.

Comment

Greek election, debt crisis and G20 Summit: Live

 

 

 

 

Greek government will be forced to seek third bail-out

 

 

 

 

Don't expect any solutions from the international junketing in Mexico

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Market Relief Fades at Greek Election Results

 

By STEPHEN CASTLE

 

 

Market relief at the future of the euro zone began to fade by midmorning Monday, as stocks and the euro retreated and Spain’s borrowing costs reached a level seen by many as unsustainably high.

 

 

 

 

18eurozone-web3-sfSpan.jpg

Joshua Bright for The New York Times

 

Traders at the New York Stock Exchange.

 

 

 

 

 

 

The Lede Blog

 

Aftermath of the Greek Vote

 

By VICTORIA SHANNON 9 minutes ago

 

Stocks are flat on Wall Street, Treasury yields are steady, and Fitch gives European government debt a reprieve from a downgrade.

 

 

18banks-preserver-thumbStandard.jpg

Worried Banks Resist Fiscal Union

 

By LANDON THOMAS Jr.

 

European banks oppose a union, which is meant to encourage the free flow of money in Europe and halt the lending cycle between sick banks and debt-laden governments.

 

Greek Election Defuses One Crisis, but More Lurk

 

By NATHANIEL POPPER

 

Greece is expected to continue receiving the international aid it needs to stay afloat, but problems in Spain, Italy and the rest of Europe still need to be addressed.

 

 

 

Justices Back Drug Industry on Overtime

 

By THE ASSOCIATED PRESS 11:44 AM ET

 

The Supreme Court has ruled that sales representatives for pharmaceutical companies do not qualify for overtime pay under federal law, a big victory for the drug industry.

 

Bits Blog

 

Facebook Acquires Israeli Facial Recognition Company

 

By SOMINI SENGUPTA

 

Facebook has bought an Israeli start-up company called face.com that can scan images in real time and identify the people in them. Facebook has worked with the company for years, but now it needs to make more effort applying the technology to mobile devices.

 

18maps-illustrations-thumbStandard.jpg

Apple and Google Go Head to Head Over Mobile Maps

 

By QUENTIN HARDY

 

Apple’s move into maps is hardly a surprise, but the question is if it can build a service that does as good a job, or a better one, than Google has.

 

jpAGE1-thumbStandard.jpg

Verifying Ages Online Is a Daunting Task, Even for Experts

 

By NICOLE PERLROTH

 

Recent sexual assaults on children by adults who pretended to be minors on Skout, a mobile social networking app, has highlighted the challenge of verifying ages online.

 

jpbuffett2-thumbStandard.jpg

Newspaper Work, With Warren Buffett as Boss

 

By CHRISTINE HAUGHNEY

 

Three years after saying he would not buy a newspaper at any price, Warren Buffett has moved aggressively into the business, buying 63 papers and taking a 3 percent stake in Lee Enterprises.

 

18royalties-thumbStandard.jpg

Royalties From Digital Radio Start to Add Up

 

By BEN SISARIO

 

On Monday, SoundExchange, a nonprofit group that processes payments for online streams, will announce that it has paid $1 billion to artists and record companies since its founding in 2000.

 

 

Mergers of European Mobile Carriers Expected to Grow

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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