CityTools business

CityTools business http://www.citytools.net Your news, your way. Stories on CityTools where either written by members or are existing stories shared by members. In the case of shared stories, all rights reside with the original creator. en 2008-10-13T04:54:17 2008-10-13T04:54:17 httpd:/www.citytools.net/essentials/rss_docs.html CityTools http://www.citytools.net/images/rss_logo.jpg http://www.citytools.net 182 35 citytools image Insulated from global woes, Iraqi stocks soar http://www.citytools.net/showstory/E7CDA768-9895-11DD-8240-F3337A10A9B7/ AP - While the rest of the world is facing a financial meltdown, the Iraq Stock Exchange is booming.<a href="http://us.rd.yahoo.com/dailynews/rss/world/*http://news.yahoo.com/s/ap/20081012/ap_on_re_mi_ea/ml_iraq_market_boom">[original story]</a> Great piece on the financial meltdown and quants: The Rise of the Machines http://www.citytools.net/showstory/38DE65BC-987C-11DD-8240-F3337A10A9B7/ “BEWARE of geeks bearing formulas.” So saith Warren Buffett, the Wizard of Omaha. Words to bear in mind as we bail out banks and buy up mortgages and tweak interest rates and nothing, nothing seems to make any difference on Wall Street or Main Street. Years ago, Mr. Buffett called derivatives “weapons of financial mass destruction” — an apt metaphor considering that the Manhattan Project’s math and physics geeks bearing formulas brought us the original weapon of mass destruction, at Trinity in New Mexico on July 16, 1945. <a href="http://www.nytimes.com/2008/10/12/opinion/12dooling.html?_r=1&oref=slogin">[original story]</a> European banks rescue plan agreed http://www.citytools.net/showstory/E4448922-9895-11DD-8240-F3337A10A9B7/ European leaders in Paris say no major financial institution will be allowed to collapse, as they agree a banking rescue plan.<a href="http://news.bbc.co.uk/go/rss/-/2/hi/business/7666274.stm">[original story]</a> Liquidation unlikely as papers miss obligations http://www.citytools.net/showstory/DB93CE78-9895-11DD-8240-F3337A10A9B7/ NEW YORK (AP) -- Newspaper companies have been skipping loan payments, missing financial targets in debt agreements and accepting higher interest rates in exchange for more flexibility - and they're not even directly feeling the impact of the credit crisis yet....<a href="http://hosted.ap.org/dynamic/stories/N/NEWSPAPERS_DEBT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> Is the era of easy credit over for the long haul? http://www.citytools.net/showstory/DC6EBC9A-9895-11DD-8240-F3337A10A9B7/ An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels....<a href="http://hosted.ap.org/dynamic/stories/E/END_OF_EASY_CREDIT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> 'Chihuahua' fetches $17.5M, remains top movie dog http://www.citytools.net/showstory/3C944BC8-989E-11DD-8240-F3337A10A9B7/ LOS ANGELES (AP) -- An adorable talking dog remained just the sort of escapist movie hero audiences wanted after a week of awful economic news. Disney's family comedy "Beverly Hills Chihuahua," with Drew Barrymore providing the voice of the pooch, was the No. 1 flick for the second-straight weekend with $17.5 million, raising its 10-day total to $52.5 million, according to studio estimates Sunday....<a href="http://hosted.ap.org/dynamic/stories/B/BOX_OFFICE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> European Leaders Meet as More Measures Extended http://www.citytools.net/showstory/B5D0B052-987C-11DD-8240-F3337A10A9B7/ Government leaders from the major European Union members gathered in Paris on Sunday to discuss their collective response to the financial crisis. <a href="http://www.nytimes.com/2008/10/13/business/13europe.html?partner=rssnyt&emc=rss">[original story]</a> Palin has mixed record as fiscal conservative http://www.citytools.net/showstory/1A286E5C-9885-11DD-8240-F3337A10A9B7/ ANCHORAGE, Alaska (AP) -- Alaska Gov. Sarah Palin, the Republican nominee for vice president, bills herself as a fiscal conservative. But that can be a relative term when you're governor of a state gushing with oil money....<a href="http://hosted.ap.org/dynamic/stories/P/PALIN_ECONOMICS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> Soros slams US, EU leaders for 'slow' response http://www.citytools.net/showstory/283D90EC-98C8-11DD-8240-F3337A10A9B7/ Outspoken billionaire investor George Soros on Sunday criticized U.S. and European officials for taking too long to effectively address the financial crisis. Treasury Secretary Henry Paulson was "very slow" to react because his "market fundamentalist beliefs"... <a href="http://feeds.sfgate.com/~r/sfgate/rss/feeds/business/~3/419015338/article.cgi">[original story]</a> US banking rules 'outdated' http://www.citytools.net/showstory/C41CF3D0-98BF-11DD-8240-F3337A10A9B7/ US banking regulators need a "dramatic overhaul", according to Harvey Pitt who used to run one of them.<a href="http://news.bbc.co.uk/go/rss/-/2/hi/business/7666091.stm">[original story]</a> Markets rally after crisis talks http://www.citytools.net/showstory/C36E95EC-98BF-11DD-8240-F3337A10A9B7/ Asian share markets react positively to efforts by world leaders to end the recent financial turmoil.<a href="http://news.bbc.co.uk/go/rss/-/2/hi/business/7666477.stm">[original story]</a> Final hour of trading keeps Wall Street on edge http://www.citytools.net/showstory/63852EE6-98B7-11DD-8240-F3337A10A9B7/ NEW YORK (AP) -- The chaotic hour before Wall Street's closing bell has never been for the faint of heart. These days, it's been absolutely brutal....<a href="http://hosted.ap.org/dynamic/stories/M/MELTDOWN_THE_FINAL_HOUR?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> Mitsubishi and Morgan Stanley Renegotiating http://www.citytools.net/showstory/62B67844-98B7-11DD-8240-F3337A10A9B7/ Mitsubishi was pressing for more favorable terms on Sunday after Morgan Stanley lost nearly half its market value during last week’s stock market plunge. <a href="http://www.nytimes.com/2008/10/13/business/13morgan.html?partner=rssnyt&emc=rss">[original story]</a> Ithaca, NY, wants to be America's 1st podcar city http://www.citytools.net/showstory/9F769B1C-98A6-11DD-8240-F3337A10A9B7/ ITHACA, N.Y. (AP) -- The thought of a driverless, computer-guided car transporting people where they want to go on demand is a futuristic notion to some....<a href="http://hosted.ap.org/dynamic/stories/P/PODCAR_CITY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> Details about debt at some newspaper companies http://www.citytools.net/showstory/3D519200-989E-11DD-8240-F3337A10A9B7/ Newspaper companies renegotiating debt agreements with lenders:...<a href="http://hosted.ap.org/dynamic/stories/N/NEWSPAPERS_DEBT_GLANCE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> S& P 500 Logs Worst Week in 75 Years http://www.citytools.net/showstory/AA4BD678-9839-11DD-8240-F3337A10A9B7/ Stocks plunged, sending the Standard & Poor's 500-stock index to its worst week in 75 years on concern the credit crisis will spread from banks to consumer companies and energy producers, triggering a global recession. Financial firms in the S&P 500 fell to an almost 12-year low, led by Morgan Stanley, on speculation that they're running short of money as lending markets freeze. General Motors and Ford slid more than 45 percent as S&P said the carmakers may be forced into bankruptcy. Exxon Mobil, the largest energy company, lost a fifth of its value ...<a href="http://www.washingtonpost.com/wp-dyn/content/article/2008/10/11/AR2008101100146.html"> (more) </a><a href="http://www.washingtonpost.com/wp-dyn/content/article/2008/10/11/AR2008101100146.html">[original story]</a> Brown calls for EU-wide banking system bail-out http://www.citytools.net/showstory/2D039588-9885-11DD-8240-F3337A10A9B7/ PM holds key talks with European officials desperate to prevent continent-wide meltdown in banking sector<a href="http://www.guardian.co.uk/politics/2008/oct/12/gordonbrown-economy1">[original story]</a> China Communists seek to expand internal market http://www.citytools.net/showstory/5E1D6A92-9874-11DD-8240-F3337A10A9B7/ AP - China's ruling Communist Party on Sunday said it would seek to expand its massive internal market to counter the global economic slowdown that has reduced international demand for Chinese goods.<a href="http://us.rd.yahoo.com/dailynews/rss/world/*http://news.yahoo.com/s/ap/20081012/ap_on_bi_ge/as_china_economy">[original story]</a> China looking inward as foreign economies slow http://www.citytools.net/showstory/5605DF92-9874-11DD-8240-F3337A10A9B7/ BEIJING (AP) -- China's ruling Communist Party on Sunday said it would seek to expand its massive internal market to counter the global economic slowdown that has reduced international demand for Chinese goods....<a href="http://hosted.ap.org/dynamic/stories/A/AS_CHINA_ECONOMY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT">[original story]</a> European Leaders Meet on Response to Financial Crisis http://www.citytools.net/showstory/552B9300-9874-11DD-8240-F3337A10A9B7/ The president of the European Commission said he was very hopeful that a meeting of European leaders Sunday would take an important step toward a coordinated response to the global financial crisis. <a href="http://www.nytimes.com/aponline/world/AP-EU-Europe-Crisis-Summit.html?partner=rssnyt&emc=rss">[original story]</a>