Money

Former auto czar: Key aim to restructuring Chrysler was to change management

eGMCarTech (Free subscription) | 8 hours ago

The Obama administration’s former auto czar, Steven Rattner, said that the key aim of restructuring Chrysler was replacing the group of top executives and management that was put together by private equity firm Cerberus Capital Management LP. “We wanted to have a completely fresh management team (at Chrysler),” said Rattner. “You can’t come to any conclusion that [...]...

• Ex-czar gives Chrysler take - Detroit News Online

Beyond the peg

The Economist (Free subscription) | 7 hours ago

China's trade surplus is about more than exchange rates IN JUST about any analysis of the persistent trade imbalance between China and America, China's currency policy is sure to feature as the principle villain. By pegging its currency to the dollar, China prevents dollar depreciation from playing its natural role in facilitating current account adjustments, making Chinese goods more expensive in...

Did the president save the auto industry?

The Economist (Free subscription) | 7 hours ago

An unlikely explanation for high auto prices EARLIER this week, I pointed to a surprising increase in vehicle prices in the Consumer Price Index and noted that the rise seemed to be due to Cash for Clunkers, which depleted vehicle inventories. Prices were up because there were fewer cars on lots.The New York Times' Floyd Norris has a different explanation—prices have risen because the auto industry...

Nationwide first-half profits slump

The Observer (Free subscription) | 12 hours ago

Chief executive of country's biggest building society warns rising unemployment will hit house prices and attacks regulatory changes Nationwide Building Society today attacked regulatory changes which it warned could impede the mutual sector as it admitted profits in the first half had fallen more than 60%. Underlying pre-tax profits were £117m in the six months to 30 September, from £322m...

Auditing the central bank: a jolly good thing!

Maverecon (Free subscription) | 9 hours ago

What is so important about H.R. 1207: the Federal Reserve Transparency Act of 2009 aka the ‘Audit the Fed’ bill? This bill “To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United [...]

If you want Home Rule...

Yapping Yousuf (Free subscription) | 13 hours ago

Within the next few days Jim Murphy, (Scotland's man in the cabinet in case you forgot!) will publish a white paper implementing the proposals for the Calman Commission, probably to be enacted after the next General Election. The big one is on taxation. If the Telegraph is to be believed the proposals for income tax will be implemented. This means that income tax set in the Budget at Westminster will...

US STOCKS-Futures down on weak commodities, on quarterly results

Reuters UK (Free subscription) | 9 hours ago

* Futures down: S&P 8.2 pts, Dow 80 pts, Nasdaq 10.25 pts

Williams sells shares in F1 team

The Guardian (Free subscription) | 7 hours ago

• Williams: 'I have no reason to stop at this time in my life' • New shareholder Wolff a 'very shrewd businessman' Frank Williams has sold a minority stake in his multiple championship-winning Formula One team for the first time since he set up the company in 1977. Despite the sale, which was made today for "private reasons", the Briton vowed to remain firmly in control and said...

PRESS DIGEST - Canada - Nov 20

Reuters UK (Free subscription) | 9 hours ago

Nov 20 (Reuters) - The following are top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

Buyout industry to grow after painful squeeze-conference

Reuters UK (Free subscription) | 9 hours ago

* Sovereign wealth funds ready to invest in asset class

US STOCKS SNAPSHOT-Futures extend losses as dollar firms

Reuters UK (Free subscription) | 9 hours ago

NEW YORK, Nov 20 (Reuters) - U.S. stock index futures extended losses on Friday after the U.S. dollar strengthened and homebuilder D.H. Horton Inc reported a quarterly loss.

Dow Jones new tool to engage bloggers and journos

Press 2.0 - Communications in a digital world (Free subscription) | 9 hours ago

For too long PR and other media relations people have needlessly spammed journalists and (more recently) bloggers with their irrelevant releases. Emails titled "For Immediate Release" constantly fall into our inboxes in the hope that we will write about the latest product or service. But most are sent with little actual targeting of their subject or audience and are quickly dismissed and...

US STOCKS-Futures lower after Dell results

Reuters UK (Free subscription) | 9 hours ago

* Futures down: S&P 6.2 pts, Dow 56 pts, Nasdaq 7.5 pts

Huarong "still studying" massive bond due ICBC

Reuters UK (Free subscription) | 10 hours ago

BEIJING, Nov 20 (Reuters) - Huarong Asset Management Co., which manages billions of dollars of bad debt spun off from Industrial and Commercial Bank of China in the 1990s, is still working on a plan to address a massive bond obligation that comes due this year, its top executive said on Friday.

UPDATE 2-GSI Group files for Ch. 11, creditors to take control

Reuters UK (Free subscription) | 10 hours ago

* Vendors and suppliers to be paid in full (Recasts; adds details)

4 Dangers In Flipping Real Estate

neilsamsung | yesterday

If you have recently purchased some real estate for investment purposes, you are in good company. Recent reports suggest that as many as 25% of these purchases are made by those who plan on using the property for investment purposes only. If you hope to "flip" the property there are 4 things you must be aware of that can put a crimp on your profits. 1. Property Taxes . Keep the property for a few years...

French Social Charges and UK Pensions

ifp | 18/11/2009

Early retirees in France continue to benefit from an administrative loophole in the taxation of their pensions, but it may not last. As we have pointed out previously in this Newsletter, private sector early retirement pensions are subject to French social charges, but in practice most early retirees from the EU currently escape the full force of these charges. The ‘social charges’ is in fact a collective

Slaughter and May Solicitors - "GJH Carroll Forged Signatures" - HM Treasury Tax Evasion Crime Syndicate Case

carrolltrust | 13/11/2009

Slaughter and May partners Glen James Simon Hall and Lucy Wylde are explicity "named" as the Gerald Carroll Carroll Foundation Trust lawyers in compelling criminal evidence dossiers containing forged HM Land Registry Gerald Carroll legal conveyance documentation HM Government DTI Companies House forged and falsified Carroll Trust Corporations share certificates and HM Ministry of Defence Carroll Trust