1. Boomer Retirement  permalink

Boomer Retirement
Www.frbsf.org

Historical data indicate a strong relationship between the age distribution of the U.S. population and stock market performance. A key demographic trend is the aging of the baby boom generation. As they reach retirement age, they are likely to shift from buying stocks to selling their equity holdings to finance retirement. Statistical models ...

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2. Exclusive: Goldman CEO hires high-profile attorney  permalink

Exclusive: Goldman CEO hires high-profile attorney
Www.reuters.com

WASHINGTON (Reuters) - Goldman Sachs Chief Executive Lloyd Blankfein has hired Reid Weingarten, a high-profile Washington defense attorney whose past clients include a former Enron accounting officer, according to a government source familiar with the matter.

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L.A. Times
Market Apparently Shocked To Find Out Goldman Sachs CEO Takes Investigations Seriously, Hires Best Lawyers Money Can Buy Goldman Sachs CEO hires criminal defense lawyer   —  Lloyd Blankfein retains Reid Weingarten amid the governments inquiry into the financial crisis. The move hints there could be new push to investigate the firm and its executives on criminal grounds. Goldman Sachs Chief Executive Lloyd Blankfein has hired a prominent Washington criminal law attorney to defend him against any charges resulting from ...

MARK DECAMBRE / NY Post
Market Apparently Shocked To Find Out Goldman Sachs CEO Takes Investigations Seriously, Hires Best Lawyers Money Can Buy Lloyd lawyers up   —  Lloyd Blankfein, Goldman Sachs’ gold-plated chief executive, has hired a hot-shot white-collar criminal defense lawyer to represent him personally as a Justice Department probe of the firm’s management kicks into high gear. Washington power lawyer Reid Weingarten, who has represented a who’s who of business titans, will now...

3. DealBook: UBS to Slash 3,500 Jobs  permalink

JULIA WERDIGIER / NYT

The embattled Swiss bank, said Tuesday that it would cut 3,500 jobs over the next two and a half years to reduce its costs.

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Patty Tascarella / Banking :   UBS to cut 3,500 jobs

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The Independent
UBS to cut 3,500 jobs Swiss bank UBS set to cut 3,500 jobs in UK   —  UK employer UBS became the latest banking giant to announce job losses today as it struggles with a sluggish global economy and increased regulatory pressures.

RTÉ Business
UBS to cut 3,500 jobs UBS announces 3,500 job losses   —  Swiss bank UBS today announced plans to shed 3,500 jobs in order to make savings of 2 billion Swiss francs.

4. Exclusive: Apple suppliers building cheaper, 8GB iPhone  permalink

Exclusive: Apple suppliers building cheaper, 8GB iPhone
Reuters

TAIPEI/HONG KONG (Reuters) - Asian suppliers to Apple Inc have begun manufacturing a lower-priced version of its hot-selling iPhone 4 with a smaller 8 gigabyte flash drive, according to two people with knowledge of the matter.

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Business and financial news
Apple Round-Up: Totally New Macs, Cheap iPhone, iPhone 5 Parts And Dates, LTE iPhones Tested, Retina iPads In-Bound Report: Second, cheaper iPhone coming   —  Stories have been floating around for months that Apple (AAPL) was building not one but two new iPhones -- the widely expected iPhone 5 and a lower-cost phone that's basically the current iPhone 4 with less on-board memory. According to an item posted two weeks ago by Apple'N'Apps' Trevor Sheridan, company insiders are calling the second device ...

Business and financial news
Apple Round-Up: Totally New Macs, Cheap iPhone, iPhone 5 Parts And Dates, LTE iPhones Tested, Retina iPads In-Bound Apple and HP's tech hiring spree   —  Apple (AAPL) topped list in the San Jose/Sunnyvale/Santa Clara metropolitan area with 847 help-wanted ads, according to a survey conducted by the California labor department in July 2011.

5. President of embattled S&P steps down  permalink

President of embattled S&P steps down
Default

The announcement follows reports of a Justice Department investigation and the rating agency's downgrade of U.S. debt.

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Yahoo! News
President of embattled S&P steps down S&P replaces president with Citibank exec after U.S. downgrade   —  Reuters - The chief of Standard & Poor's will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded U.S. government debt and sparked a row with Washington.

Business
President of embattled S&P steps down S&P replaces president after U.S. downgrade   —  Standard & Poor's said its president is stepping down, capping two weeks of controversy following the rating agency's downgrade of U.S. government debt on Aug. 5 that sparked a row with the Treasury.

6. In Spain, design your own clothing via 3D simulator  permalink

In Spain, design your own clothing via 3D simulator
Springwise / Springwise

Crearmoda allows users to design their own clothing using a 3D simulator, and then offer up those designs for voting and incorporation by others.

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Www.seattlepi.com
In Spain, design your own clothing via 3D simulator Spain eyes constitution change to limit deficit   —  MADRID (AP) — Spain's prime minister and the opposition leader agreed Tuesday to work on amending the Constitution to limit the government deficit, an effort to allay fears the country may need help handling its debt.

Yahoo! News
In Spain, design your own clothing via 3D simulator Spain eyes constitution change to limit deficit   —  AP - Spain's prime minister and the opposition leader agreed Tuesday to work on amending the Constitution to limit the government deficit, an effort to allay fears the country may need help handling its debt.

7. Libya rebels close in on Gaddafi compound  permalink

Libya rebels close in on Gaddafi compound
Reuters

TRIPOLI (Reuters) - Libyan rebels battled on Tuesday around Muammar Gaddafi's headquarters, where a son of the veteran leader had emerged overnight to confound reports of his capture and to rally cheering loyalists for a rearguard fightback.

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RTÉ Business
Libya rebels close in on Gaddafi compound Oil climb as traders eye Libya crisis   —  Crude rose in Asia today as traders monitored the crisis in Libya, with rebels claiming victory but one of Moamer Gaddafi's sons insisting his father was still in control.

The Seattle Times
Libya rebels close in on Gaddafi compound Oil above $86 as Libya rebels battle for control   —  Oil prices rose above $86 a barrel Tuesday in Asia as Libyan rebels fought pockets of resistance in the capital Tripoli and Moammar Gadhafi's whereabouts remained unknown.

8. Too Bad Banks Missed Out On the GM Treatment  permalink

Www.ritholtz.com

GM history in the second half of the 20th century is a story of executive arrogance, missed opportunities, poor decision-making and reckless finance. After WW2, everyone was making money hand-over-fist, and GM became known as “Generous Motors.” Starting in the mid-1950s, rather than risk a strike that could slow production and sales, ...

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Business Blogs
Bad Credit Personal Loans At A Bank   —  A bad credit personal loan at a bank can come in a variety of forms typically offered through the more common home equity loan program or line of credit.

9. Five Easy Pieces of Online Identity  permalink

Evhead.com

Every Internet service that has a concept of users has to deal with identity. And for anything social (which seems like everything these days) identity is a huge part. For the Internet as a whole, there are battles waging to "own" identity—or, at the very least, not let someone else own it. And there have been efforts for years to make ...

discussions

10. 5 Metrics to Measure the Health of Your Community  permalink

5 Metrics to Measure the Health of Your Community
Smallbiztrends.com

Sure, you’re active in social media, but as a responsible small business owner you know that it’s your site and your own community where you should be building your home base. This is where you direct people you meet in other outlets and it’s where you’re trying to form the real conversations and conversions, because this is the only site ...

11. China manufacturing picks up  permalink

Business and financial news

China's manufacturing sector improved in August, but growth remains sluggish, according to a bank report issued Tuesday.

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Howard Schneider / Business News
GE ‘all in’ on aviation deal with China   —  GRAND RAPIDS, Mich. — At a General Electric flight simulator here, the visibility has been set at near zero to mimic thick rain and clouds. But a video console near the pilot shows a vivid picture of nearby mountains precise enough to allow a plane to take off or land despite the conditions. The system is one of several highly valuable next- ...

WSJ.com
BofA Takes a China Hit   —  Shares in the U.S.'s largest bank slumped after China Construction Bank officials said BofA will keep at least half of its 10% stake in the Chinese lender.

12. Heinz 1Q net income falls on charges, revenue up  permalink

Yahoo! Finance

[AP] - H.J. Heinz's first-quarter net income slipped 6 percent as it shuttered plants, but the company still topped Wall Street expectations thanks to sales in emerging markets.

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Www.seattlepi.com
Heinz 1Q net income falls on charges, revenue up Heinz 1Q net income falls on charges, revenue up   —  PITTSBURGH (AP) — H.J. Heinz's first-quarter net income slipped 6 percent as it shuttered plants, but the company still topped Wall Street expectations thanks to sales in emerging markets.

Yahoo! News
Heinz 1Q net income falls on charges, revenue up Heinz 1Q net income falls on charges, revenue up   —  AP - H.J. Heinz's first-quarter net income slipped 6 percent as it shuttered plants, but the company still topped Wall Street expectations thanks to sales in emerging markets.

13. ING Adding Paper Checks  permalink

ING Adding Paper Checks
Www.penny-saved.com

I have wondered for a long time why they didn’t do this, so I am glad they are adding this feature. This was one of the things that kept me from having them be my main checking account. There are still several places that I have to use checks (remember I am in Amish country!).

14. Stocks rally on hopes for China growth  permalink

Stocks rally on hopes for China growth
Financial Times

Dominant tone is ‘risk on’, with perceived havens such as the US dollar weaker, but gold hits $1,900 an ounce for first time

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India Business News
Stocks rally on hopes for China growth Sensex rises 156 points, IT stocks lead rally   —  The Bombay Stock Exchange benchmark Sensex today added over 156 points as investors picked up stocks, particularly IT shares, available at lower levels after recent losses, amid firming global cues.

The Seattle Times
World stock markets rise amid hopes for Fed move   —  Stocks rose around the world on Tuesday as investors shrugged off signs of deteriorating economic sentiment in Europe and hoped the Federal Reserve would act to keep the U.S. from sliding back into recession.

15. Dripping Springs superintendent to retire  permalink

Www.kvue.com

Dr. Mard Herrick has led the district since July 2006. He has been involved in education for almost 36 years and previously served as superintendent for San Antonio Southside and Palestine.

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16. Movers & Shakers: Tuesday’s biggest gaining & declining stocks  permalink

Movers & Shakers: Tuesday’s biggest gaining & declining stocks
MarketWatch.com

Focus Media Holding Ltd.’s /quotes/zigman/97560/quotes/nls/fmcn FMCN -1.16%   U.S-listed shares climbed 7% a day after the Chinese digital-media company reported a spike in second-quarter earnings from the year-ago period.

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Business
Movers & Shakers: Tuesday’s biggest gaining & declining stocks Medtronic's fiscal 1st-quarter net income slides 1 percent despite revenue gains   —  MINNEAPOLIS - Medtronic Inc., the world's largest medical device maker, saw its fiscal first-quarter earnings slip 1 percent as challenges in two of its biggest businesses countered overseas revenue gains.

Yahoo! News
Movers & Shakers: Tuesday’s biggest gaining & declining stocks Stock futures point to gains, but will rally hold?   —  Reuters - Stock index futures pointed to a rise of more than 1 percent at the open on Tuesday, but investors remained concerned the rally would not be sustained.

17. S&P president departing at year’s end  permalink

S&P president departing at year’s end
Melanie Turner / Agriculture News

Deven Sharma, who presided over Standard & Poor’s first downgrade of the U.S. credit ranking, will be replaced by Douglas Peterson, Citibank NA chief operating officer Sharma told the Washington Post in an email that he is leaving to pursue other opportunities.

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Nevin Batiwalla / Nashville Business News
S&P president departing at year’s end Standard & Poor’s president resigns   —  Standard & Poor's President Deven Sharma announced Monday night that he will leave by the end of the year. Sharma said he will take on a special assignment reviewing the company’s strategic portfolio before departing by year’s end. Douglas Peterson, chief operating office at Citibank, will replace Sharma as president. Sharma's departure ...

J. Bradford DeLong / Grasping Reality with Both Hands
The First Casualty of the S&P Downgrade of the U.S. Treasury...   —  ...is S&P President Deven Sharma. David Gelles and John McDermott report: Sharma to step down as S&P president : Deven Sharma is stepping down as president of Standard & Poor’s only weeks after the rating agency issued an unprecedented downgrade of the credit of the US, according to people familiar with the matter. Mr Sharma will ...

18. Don't count U.S., Japan out, Biden tells the world  permalink

Don't count U.S., Japan out, Biden tells the world
Reuters

SENDAI, Japan (Reuters) - U.S. Vice President Joe Biden visited Japan's quake-hit northeast on Tuesday and said the country would recover from the disaster just as the United States would overcome its debt crisis, warning doubters not to count the two countries out.

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Msnbc.com
Don't count U.S., Japan out, Biden tells the world Biden's 'noodle diplomacy' draws crowds   —  Black bean sauce noodles and other delicacies served at one Beijing eatery are being snapped up by customers eager to order the dishes eaten by U.S. Vice President Joe Biden on a recent visit.

Yahoo! News
Don't count U.S., Japan out, Biden tells the world Japan PM on way out, leadership race wide open   —  TOKYO (Reuters) - Unpopular Prime Minister Naoto Kan confirmed on Tuesday he would step down as head of the ruling party this week if two key bills were enacted, clearing the way for a new leader to try to cope with Japan's nuclear crisis and slew of economic ills.

19. Wall Street looks set for second day of gains  permalink

Yahoo! Finance

[AP] - Stock futures are rising, potentially setting up another day of gains on Wall Street. Roughly one hour ahead of the opening bell, Dow Jones industrial average futures are up 101 points, or 1 percent, to 10,948.

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Default
Wall Street looks set for second day of gains Global stocks higher as U.S. stock futures look up   —  BRUSSELS – Stocks rose around the world Tuesday and U.S. stock futures were pointing higher as investors shrugged off signs of deteriorating economic sentiment in Europe and hoped the Federal Reserve will act to keep the U.S. from sliding back into recession.

The Seattle Times
Wall Street looks set for second day of gains   —  Stock futures are rising, potentially setting up another day of gains on Wall Street.

20. London Markets: Wood Group, G4S lead London higher  permalink

London Markets: Wood Group, G4S lead London higher
MarketWatch.com

LONDON (MarketWatch) — Britain’s benchmark stock index rose Tuesday, led by security provider G4S PLC and engineering firm John Wood Group PLC after both reported strong first-half results.

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MarketWatch.com
London Markets: Wood Group, G4S lead London higher Europe Markets: BMW, G4S among climbers as Europe rebounds   —  European stock markets rise, with BMW and security firm G4S among the top performers as investors continue to hope for more stimulus measures from the Federal Reserve.