October 31st, 2011 by admin

YouTube is making a bold step into original programming in an entertainment venture with some hundred content creators, from Madonna to The Wall Street Journal.

The video site, owned by Google Inc., recently said it is launching more than 100 new video channels.

From news.yahoo.com:

The Google Inc.-owned video site said Friday that it’s launching more than 100 new video channels. The partners include an array of Hollywood production companies, celebrities and new media groups that will produce mainly niche-oriented videos.

YouTube is shelling out $100 million to producers, according to people familiar with the matter, who spoke on condition of anonymity. The money is an advance on advertising money the videos will bring in, and Google will recoup its portion first before splitting the proceeds. Advances are as high as $5 million per channel, said another person familiar with the arrangement, also speaking on condition of anonymity.

YouTube in a blog posting said the channels are being developed “specifically for the digital age.”

Tags: advertising, blog posting, celebrities, content creators, Google, media groups, production companies, Wall Street, YouTube

October 24th, 2011 by admin

Oil prices hovered above $1 a barrel on Tuesday in Asia as investors await plan details of Europe to contain its debt crisis.

Benchmark crude for December delivery was up 17 cents at $91.44 a barrel at midmorning Singapore time in electronic trading on the New York Mercantile Exchange.

From in.news.yahoo.com:

Oil has jumped 21 percent in three weeks amid growing investor optimism that European leaders will devise a plan to limit the damage from a possible default of Greek sovereign debt. Details of the plan are expected to be announced Wednesday.

“Although the euro zone debt issue remains quite murky, the market appears to be pricing in a viable resolution to this crisis,” energy consultant Ritterbusch and Associates said in a report. “Wednesday’s EU summit could still bring some bearish news if a comprehensive debt plan is not forthcoming.”

In other Nymex trading, heating oil fell 1.1 cents to $3.04 per gallon and gasoline futures slid 1.0 cent at $2.66 per gallon.

Tags: debt crisis, euro zone, oil prices, sovereign debt

October 19th, 2011 by admin

The credit rating of two top UK banks was cut by Moody’s recently because of the likelihood of less state support in a future crisis.

Moody’s cut its rating on Royal Bank of Scotland by two notches, downgraded Lloyds by one notch, and cut its ratings on Santander UK, the Co-Operative Bank, Nationwide Building Society, and seven other smaller British building societies.

From in.finance.yahoo.com:

Banks had been on review for possible downgrade as part of a trend where state support for lenders is being reduced, and reforms proposed last month by Britain’s Independent Commission on Banking (ICB) had been expected to have a negative influence.

“The market’s central expectation around the ICB impact had been for a 2-notch downgrade across the board, so it’s better than expected,” said Gareth Hunt, analyst at Investec.

But concern is growing that banks may need more capital as part of a wider European move to shore up the industry to tackle a debt crisis and restore investor confidence. The European Union plans to present a plan for member state to coordinate a bank recapitalisation.

“I am confident that British banks are well capitalised, they are liquid, they aren’t experiencing the kind of problems that some of the banks in the euro zone are experiencing at the moment,” UK finance minister George Osborne said in an interview with BBC radio.

Tags: credit rating, debt crisis

October 18th, 2011 by admin

According to General Electric Co’s Jeff Immelt and other top executives, the U.S. economy is not slipping back into recession but will face a long, slow recovery as political gridlock in Washington and Europe make businesses wary of investing.

“Recovery is underway, but it’s a long, slow recovery. Slower than we’d like,” the head of GE told a group of about 500 executives from mid-sized U.S. companies.

From in.finance.yahoo.com:

Other top voices from corporate America offered a similar assessment on Thursday, including FedEx Corp CEO Fred Smith and ExxonMobil Corp’s Rex Tillerson.

Data released on Thursday is backing them up: Activity in manufacturing, business spending and motor vehicle sales suggested that the economy, which expanded at a 1.3 percent annual rate in the second quarter, could avoid an outright decline in output.

“We don’t see a contraction; we don’t see a recession,” said FedEx’s Smith, who founded the world’s No. 2 package delivery company. “It’s steady as you go, slow growth.”

“This is a lot different than 2008, guys,” said Immelt, CEO of the largest U.S. conglomerate. “There’s liquidity, there’s pockets of growth and I think people have confidence that they might be able to find the right pockets of growth.”

Tags: business spending, recession

October 15th, 2011 by admin

According to a recently released U.S. government report, employment grew more than expected in September and job gains for the prior months were revised higher that could ease fears the economy was heading into recession.

The Labor Department said nonfarm payrolls rose 103,000, while the unemployment rate held steady at 9.1 percent as an increase in household employment offset a rise in the participation rate.

From in.finance.yahoo.com:

Part of September’s relative strength reflected the return of 45,000 Verizon Communications workers who had dropped off payrolls in August due to a strike. Excluding those workers, payrolls increased by 58,000.

The tenor of the report was strengthened by revisions that showed 99,000 more jobs added in July and August than initially reported. In addition, hourly earnings rebounded and the average work week rose.

Economists had expected nonfarm employment to increase 60,000 last month and the jobless rate to hold steady at 9.1 percent.

The government’s closely followed employment report was another sign that the world’s largest economy was likely to skirt a recession despite weakness over the summer.

Private employment increased 137,000 last month, which is acceleration from August’s meager 42,000 count.

Tags: government report, nonfarm payrolls, recession

October 13th, 2011 by admin

The latest in a string of settlements with major financial creditors has been unveiled by Lehman Brothers Holdings Inc.

It will reach deals with Bank of America Corp and Merrill Lynch that will reduce the banks’ claims against Lehman by a combined $7.5 billion.

From in.finance.yahoo.com:

As part of the settlement, the banks have pledged support for Lehman’s $65 billion bankruptcy exit plan, according to court papers filed late on Wednesday in U.S. Bankruptcy Court in Manhattan.

Bank of America will reduce its derivatives claims against Lehman entities by $4.5 billion, Lehman said. Merrill Lynch, a Bank of America subsidiary since 2008, will lower its claims by an additional $3 billion, court papers show.

The deal still requires bankruptcy court approval, and is set for hearing on October 19.

Tags: Bank of America, Lehman Brothers, Merrill Lynch

October 11th, 2011 by admin

Vijay Mallya, Chairman, Kingfisher Airlines has announced that it will quit its low cost aviation business, Kingfisher Red.

Mallya said the segment was too competitive and there are enough passengers for a full service operation.

From in.finance.yahoo.com:

The cash strapped airline has never reported profits since its launch in 2006. In the last quarter, the airline had reported losses of Rs. 263.54 crore against losses of Rs. 187 crore in the corresponding quarter of last year.

Meanwhile, Mallaya also outlined plans to reduce debt and raise capital. The company has huge debt levels, which currently stands at Rs. 6,000 crore. He said the airline was working with a consortium of banks to further reduce interest costs and raise working capital.

The airline’s auditors had said in the company’s annual report for the fiscal year that ended March 31, that it needs capital infusion to remain viable. The auditors B.K. Ramadhyani & Co also noted, that the airline’s financial statements had “been prepared on a going concern basis, notwithstanding the fact that its net worth is completely eroded.”

“Kingfisher Airlines is working with a consortium of banks to further reduce interest costs and raise working capital as the carrier looks to restructure its fleet by selling and leasing back some of its aircraft to lower debt,” Mallya said.

Tags: interest costs, Kingfisher Airlines, Kingfisher Red, working capital

October 10th, 2011 by admin

If you are running an online business, the decision to choose the best web hosting provider is an important one for you, regardless of the size of your business. The YouTube video will help you select the best hosting provider that is reliable and efficient, to say the least.

Tags: best hosting provider, web hosting, web hosting provider, YouTube video

October 5th, 2011 by admin

Stocks ended little changed recently as investors are waiting cautiously to see if the Federal Reserve would offer more economic stimulus and if Greece made progress in talks to avoid a default.

The market gave up earlier gains of about 1 percent as investors, in the lowest volume session since late August, as investors were wary of going home with long positions after overnight downgrade of Italy’s credit rating.

From Reuters.com:

Semiconductors were among the worst performers with the PHLX semiconductor index .SOX off 1.3 percent, dragging the Nasdaq down, after Xilinx (XLNX.O) cut its second-quarter outlook. Shares of the chipmaker fell 4.5 percent to $30.03.

Helping temper some European debt worries, Greece promised further cuts to its public sector before a second conference call with international lenders, whom Athens must persuade to extend more loans to avoid bankruptcy next month.

At the end of its two-day meeting on Wednesday, the Fed is expected to announce plans to intervene in the bond market to push long-term interest rates — already near historic lows — even lower in a move known as Operation Twist.

The Dow Jones industrial average .DJI gained 7.65 points, or 0.07 percent, to 11,408.66 at the close. The Standard & Poor’s 500 Index .SPX fell 2.00 points, or 0.17 percent, to 1,202.09. The Nasdaq Composite Index .IXIC lost 22.59 points, or 0.86 percent, to 2,590.24.