World News Center
Petrobras sells 64 bln dlrs of stock to fund oil exploration (AFP)
September 4, 2010
AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.
Spending cuts before 2011 could hurt recovery: IMF, ILO (AFP)
September 4, 2010
AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.
Exclusive: American Apparel in talks with restructuring firm (Reuters)
September 4, 2010Reuters - Hipster brand American Apparel Inc is in talks to bring in an outside restructuring firm as the manufacturer and retailer struggles to fix its flagging operations, sources told Reuters on Friday.
MGIC added $1.2B in mortgage coverage in August (AP)
September 4, 2010AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.
BP replaces failed blowout preventer on Gulf well (Reuters)
September 4, 2010Reuters - BP Plc successfully replaced a failed blowout preventer from atop its ruptured Gulf of Mexico oil well late on Friday, the top U.S. official overseeing the spill response said.
Stranded actor Paul Hogan in Australia tax deal (Reuters)
September 4, 2010Reuters - Actor Paul Hogan, star of the "Crocodile Dundee" movies, has struck a deal with Australia's tax office which will allow him to return home to his family in Los Angeles, his lawyer said on Friday.
Kia recalls tied to electrical issue (Investor's Business Daily)
September 4, 2010Investor's Business Daily - The South Korean automaker is recalling 56,000 cars, the Soul and Sorento, sold in the U.S. and South Korea, because of defective wiring harnesses that could cause fires. Kia Motors said some harnesses made by Johnson Controls for lighting in '10 model-year Soul cars and 2011 model-year Sorento SUVs were improperly soldered, leading to possible electrical shorts. Kia's Soul sales had more than doubled through Aug. in the U.S. to nearly 44,000 units.
Crafting a Career in Eco-Chic Jewelry (BusinessWeek)
September 4, 2010BusinessWeek - Goldman Sachs may not have a lot of friends in the White House these days, but one of its former employees has made a good impression. After three years as an analyst in Goldman's fixed-income, currencies, and commodities division, Monique Pean began her own jewelry line that can now be found in Barneys, Jeffrey New York, and around the neck of Michelle Obama.
Stocks rally as jobs data spurs optimism (Reuters)
September 4, 2010
Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.
Taxpayers likely to face initial loss on GM IPO: sources (Reuters)
September 4, 2010
Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.
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