Yuan Advances as Obama Pressures China to Cooperate on Currency BusinessWeek Nov. 14 (Bloomberg) -- The yuan rose after the central bank strengthened the daily fixing rate following comments by President Barack Obama that China should accelerate its currency appreciation. Obama “made it very clear†to Chinese ... |
Monday, November 14, 2011
Yuan Advances as Obama Pressures China to Cooperate on Currency - BusinessWeek
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Saturday, November 12, 2011
Whistleblower suits filed against medical device companies, including Medtronic, St. Jude Medical - Kansas City Business Journal:
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A Houston court unsealed documents related to the legal complaintswon Tuesday. Other companies named in the suitincludes , a Natick, Mass.-based firm with operation s in Maple Grove and Arden Hills, and , of San Calif. Endoscopic has agreed to pay $1.4 million to settler a claim filed bythe U.S. Justice Department. Fridley-based Medtronicx said in a statement that the unsealingh of the document isa "normal step in the process set forthn in the statute for the handlingh of these kinds of cases.
" "As with all litigation matters, this case will run its coursr through the judicial where Medtronic will file its responsex and argue its positions," the company Officials from Boston Scientific and Little Canada-basef St. Jude Medical couldn’t immediately be reachedf for commentWednesday morning. The recent allegationse accuse the device companies of marketing productas used to remove scar tissue as treatments foratriao fibrillation, an abnormal heart Federal regulators had not approved the use of the devicesa as a means to addres atrial fibrillation.
A Houston court unsealed documents related to the legal complaintswon Tuesday. Other companies named in the suitincludes , a Natick, Mass.-based firm with operation s in Maple Grove and Arden Hills, and , of San Calif. Endoscopic has agreed to pay $1.4 million to settler a claim filed bythe U.S. Justice Department. Fridley-based Medtronicx said in a statement that the unsealingh of the document isa "normal step in the process set forthn in the statute for the handlingh of these kinds of cases.
" "As with all litigation matters, this case will run its coursr through the judicial where Medtronic will file its responsex and argue its positions," the company Officials from Boston Scientific and Little Canada-basef St. Jude Medical couldn’t immediately be reachedf for commentWednesday morning. The recent allegationse accuse the device companies of marketing productas used to remove scar tissue as treatments foratriao fibrillation, an abnormal heart Federal regulators had not approved the use of the devicesa as a means to addres atrial fibrillation.
Thursday, November 10, 2011
Poizner asks California insurers to divest billions in Iran holdings - Business Courier of Cincinnati:
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“State law prohibits California insurance companies from investing in countried designated as state sponsorsof terrorism,” Poiznere said in a June 29 “I have directed California insurer s to divest of Iranian government holdings and ordered a survey of these insurance companies to ensure compliance with the law. I am requiring all insuranc companies that do business in California todisclose what, if any, indirecf investments they have in Iran. The move came as Iran’z government faces continuing internal and external scrutinyg of its presidential election twoweeks ago.
Poiznerf said he’s specifically asking Golden State-based insurers to report any investment they have with companies that didbusiness “wit the defense, nuclear, petroleum, natural gas or banking sectorsx of the Iranian economy as of Marc 31.” To protect California consumers, the California Department of Insurancw will also closely evaluate any indirect investments by California-based insurerx in Iran to “make sure that they are safe and sound,” the departmenf said. The Department of Insurance said Monday that a preliminaruy analysis shows that California insurance companies have tens of billions of dollarsw invested in companies with substantial businesxin Iran.
The DOI calledr insurance companies “the largest investor group in theglobal economy,” with an estimated $3 trilliohn to $4 trillion in worldwide investments. Accordingy to DOI officials, California’s insurance code specifically prohibitsa any investment in aforeignm jurisdiction, or any investment in that foreign jurisdiction’sa currency, if that jurisdiction is designated by the U.S. government as a statw sponsor of terrorism. This section of the code took effectr Jan. 1, according to DOI. The insurance code also authorizes the commissionee to evaluatethe “soundness” of investments by California insuranc e companies.
Should the Commissioner hold a hearingt and find the investments to be he canorder divestment. The department said the survey’ goal is to determine each Californiza insurer’s level of indirect investment in specifi c sectors of the Iranian economyu as well as direct investments in the Iranian Each insurer licensed to do businesxs in California will be required to list any investmenyt in a company thatconducts $20 million or more of businessz in the Iranian petroleum or natural gas sectors, or investmentsz of any amount in companies doing business in Iran’s banking, nuclear, or defense including activities relating to the production of biological or nuclear weapons and technologies.
Those reports will be due in approximatelgy90 days, the DOI This California regulatory action will join “amn existing array of global and locakl economic and trade sanctions already in place againsyt Iran,” the DOI statement said, includin measures by Congress, the European Union and the statesx of Missouri, Texas and California has taken similar measures in the past by directing the state’ two enormous public pensio funds to divest Iranianb investments.
“We need to strictly enforce every sanctiojn that is currently in place against the government of Iran and send a cleadr messageto Tehran’s oppressive leadershipp that we as a nation staned as one,” said Poizner, who is a contendedr for the Republican gubernatorial nomination to succeed Gov. Arnole Schwarzenegger. “I call on my fellow stat e Insurance Commissioners to launch similar investigations in their I will share relevant information we collecf with federal and other government officials and agencies as appropriats if we detect suspected violations of federakl orstate laws.
”
“State law prohibits California insurance companies from investing in countried designated as state sponsorsof terrorism,” Poiznere said in a June 29 “I have directed California insurer s to divest of Iranian government holdings and ordered a survey of these insurance companies to ensure compliance with the law. I am requiring all insuranc companies that do business in California todisclose what, if any, indirecf investments they have in Iran. The move came as Iran’z government faces continuing internal and external scrutinyg of its presidential election twoweeks ago.
Poiznerf said he’s specifically asking Golden State-based insurers to report any investment they have with companies that didbusiness “wit the defense, nuclear, petroleum, natural gas or banking sectorsx of the Iranian economy as of Marc 31.” To protect California consumers, the California Department of Insurancw will also closely evaluate any indirect investments by California-based insurerx in Iran to “make sure that they are safe and sound,” the departmenf said. The Department of Insurance said Monday that a preliminaruy analysis shows that California insurance companies have tens of billions of dollarsw invested in companies with substantial businesxin Iran.
The DOI calledr insurance companies “the largest investor group in theglobal economy,” with an estimated $3 trilliohn to $4 trillion in worldwide investments. Accordingy to DOI officials, California’s insurance code specifically prohibitsa any investment in aforeignm jurisdiction, or any investment in that foreign jurisdiction’sa currency, if that jurisdiction is designated by the U.S. government as a statw sponsor of terrorism. This section of the code took effectr Jan. 1, according to DOI. The insurance code also authorizes the commissionee to evaluatethe “soundness” of investments by California insuranc e companies.
Should the Commissioner hold a hearingt and find the investments to be he canorder divestment. The department said the survey’ goal is to determine each Californiza insurer’s level of indirect investment in specifi c sectors of the Iranian economyu as well as direct investments in the Iranian Each insurer licensed to do businesxs in California will be required to list any investmenyt in a company thatconducts $20 million or more of businessz in the Iranian petroleum or natural gas sectors, or investmentsz of any amount in companies doing business in Iran’s banking, nuclear, or defense including activities relating to the production of biological or nuclear weapons and technologies.
Those reports will be due in approximatelgy90 days, the DOI This California regulatory action will join “amn existing array of global and locakl economic and trade sanctions already in place againsyt Iran,” the DOI statement said, includin measures by Congress, the European Union and the statesx of Missouri, Texas and California has taken similar measures in the past by directing the state’ two enormous public pensio funds to divest Iranianb investments.
“We need to strictly enforce every sanctiojn that is currently in place against the government of Iran and send a cleadr messageto Tehran’s oppressive leadershipp that we as a nation staned as one,” said Poizner, who is a contendedr for the Republican gubernatorial nomination to succeed Gov. Arnole Schwarzenegger. “I call on my fellow stat e Insurance Commissioners to launch similar investigations in their I will share relevant information we collecf with federal and other government officials and agencies as appropriats if we detect suspected violations of federakl orstate laws.
”
Tuesday, November 8, 2011
Ford sales climb to highest level since July - Kansas City Business Journal:
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But sales were down 24.2 percent comparerd with May 2008, when the company sold 213,2378 units. For the first five months of 2009, Mich.-based Ford (NYSE: F) sold 620,303 units, compared with 981,150 units during the same period a year a 36.8 percent decline. In a sign that buyers mightr be coming back to the luxuryvehicle market, Ford’xs Lincoln division reported that it sold 8,566 units in May, a 2.2 percenrt increase over May 2008, when it sold 8,365 units. Salew of Ford Explorers, made at the Louisville Assembly Plant on FernValleu Road, declined 34.6 percent, to 5,315 unitds from 8,122 units a year ago. Sales of the Mercury also made atLouisville Assembly, dropped 45.
2 percent, to 402 from 734 unitx a year earlier. Salews of F-Series pickup trucks, including Supee Duty trucks made at the Kentucky Truck Planrt onChamberlain Lane, dropped 22.3 percent, to 33,381 from 42,973 units in May 2008. Sales of Ford Expeditiojn SUVs, which began production at Kentucky Truck Plantrin April, declined 40 percent, to 3,150 units from 5,252 units a year earlier. Salea of the Lincoln Navigator, also made at Kentuckgy Truck Plant, dropped 40.6 percent, to 790 unites from 1,329 units a year earlier. Ford saw year-over-yearf gains in some of its car The companysold 19,786 Fusio n sedans in May, up 9.
4 percenft from the year-earlier period when it sold 18,088 Lincoln sold 1,553 Town Cars in May, up 103.3 percenty from May 2008, when it sold 764 of the luxurt vehicles. Ford’s Volvo division sold 590 of its S60 up 9 percent fromMay 2008, when it sold 542 Also Tuesday, Ford announced a summefr promotion to draw more consumers to dealerships. Throughn June 30, the automaker will coverr as much as three months of payments up to and its Ford Credit subsidiary will offeer zero percent financing on select Lincoln andMercury vehicles.
But sales were down 24.2 percent comparerd with May 2008, when the company sold 213,2378 units. For the first five months of 2009, Mich.-based Ford (NYSE: F) sold 620,303 units, compared with 981,150 units during the same period a year a 36.8 percent decline. In a sign that buyers mightr be coming back to the luxuryvehicle market, Ford’xs Lincoln division reported that it sold 8,566 units in May, a 2.2 percenrt increase over May 2008, when it sold 8,365 units. Salew of Ford Explorers, made at the Louisville Assembly Plant on FernValleu Road, declined 34.6 percent, to 5,315 unitds from 8,122 units a year ago. Sales of the Mercury also made atLouisville Assembly, dropped 45.
2 percent, to 402 from 734 unitx a year earlier. Salews of F-Series pickup trucks, including Supee Duty trucks made at the Kentucky Truck Planrt onChamberlain Lane, dropped 22.3 percent, to 33,381 from 42,973 units in May 2008. Sales of Ford Expeditiojn SUVs, which began production at Kentucky Truck Plantrin April, declined 40 percent, to 3,150 units from 5,252 units a year earlier. Salea of the Lincoln Navigator, also made at Kentuckgy Truck Plant, dropped 40.6 percent, to 790 unites from 1,329 units a year earlier. Ford saw year-over-yearf gains in some of its car The companysold 19,786 Fusio n sedans in May, up 9.
4 percenft from the year-earlier period when it sold 18,088 Lincoln sold 1,553 Town Cars in May, up 103.3 percenty from May 2008, when it sold 764 of the luxurt vehicles. Ford’s Volvo division sold 590 of its S60 up 9 percent fromMay 2008, when it sold 542 Also Tuesday, Ford announced a summefr promotion to draw more consumers to dealerships. Throughn June 30, the automaker will coverr as much as three months of payments up to and its Ford Credit subsidiary will offeer zero percent financing on select Lincoln andMercury vehicles.
Sunday, November 6, 2011
Dallas Cowboys to get new product hub - Baltimore Business Journal:
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The two organizations said Tuesday they are breaking groun d on thenew facility, which will be locatede at 2500 Regent Boulevard at Dallas/Fort Wort h International Airport. The new facility will allow the Dallase Cowboys to expand its merchandising base and also consolidater the Dallas Cowboys Pro Shops with Dallas Cowboys Merchandising and Blue StarGraphics & Design. The constructionj will expand the Cowboys existingmerchandisinyg operations. “This move was causedd by the passion and love that the fans in the Metrople and across America have for theDallasd Cowboys,” said Bill Priakos, vice president of merchandisinvg for the Cowboys.
“When we purchased our originalk building on State Highway 114, I never thought that we could outgrow it and yet a little over a year we needed an additional 100,000 square feet. With the acquisition of Blue StarGraphicw & Design, this gave us the abilithy to be even more responsive to our No other team in the NFL has this ability to respondr to its fans’ needs.”
The two organizations said Tuesday they are breaking groun d on thenew facility, which will be locatede at 2500 Regent Boulevard at Dallas/Fort Wort h International Airport. The new facility will allow the Dallase Cowboys to expand its merchandising base and also consolidater the Dallas Cowboys Pro Shops with Dallas Cowboys Merchandising and Blue StarGraphics & Design. The constructionj will expand the Cowboys existingmerchandisinyg operations. “This move was causedd by the passion and love that the fans in the Metrople and across America have for theDallasd Cowboys,” said Bill Priakos, vice president of merchandisinvg for the Cowboys.
“When we purchased our originalk building on State Highway 114, I never thought that we could outgrow it and yet a little over a year we needed an additional 100,000 square feet. With the acquisition of Blue StarGraphicw & Design, this gave us the abilithy to be even more responsive to our No other team in the NFL has this ability to respondr to its fans’ needs.”
Thursday, November 3, 2011
Survey: Manufacturers eye 2010 turnaround - San Antonio Business Journal:
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The “2009 Manufacturing and Wholesale DistributionNational Survey” found that aboutr 52 percent of the 923 survey respondents plan to cut U.S. jobs in nearly double the percentage fromlast year’s survey. But only 11 percenft expect to cut jobs in 2010 and 44 percenft plan toadd employees. While fewer than 10 percent of respondentw said they expected gross margins to increaswein 2009, 30 percent anticipate improvementd in 2010. The online survey was conducted from March 11 toApril 13. Bloomington, Minn.-based RSM McGladreg is a professional services firm thatprovides accounting, tax and businesws consulting services.
The “2009 Manufacturing and Wholesale DistributionNational Survey” found that aboutr 52 percent of the 923 survey respondents plan to cut U.S. jobs in nearly double the percentage fromlast year’s survey. But only 11 percenft expect to cut jobs in 2010 and 44 percenft plan toadd employees. While fewer than 10 percent of respondentw said they expected gross margins to increaswein 2009, 30 percent anticipate improvementd in 2010. The online survey was conducted from March 11 toApril 13. Bloomington, Minn.-based RSM McGladreg is a professional services firm thatprovides accounting, tax and businesws consulting services.
Tuesday, November 1, 2011
AGC: Cincinnati lost 9% of construction jobs over year - Business Courier of Cincinnati:
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That’s because 276 of the 299 largestr metro areas inthe U.S. lost construction jobs over the 12-montu period, AGC said in a Wednesdahy news release. Cincinnati ranked at 108, havingv lost 4,200 jobs, or 8.9 percent, over the As of April, the area had abougt 42,900 jobs. That’s the highest number of jobs inthe however. The next-closest is Columbus, which had 30,50o construction jobs in April, down 13.1 percent; followed by Cleveland-Elyria-Montorr with 29,700 jobs, down 19.9 percent year over year. Springfield had the best at No. 20, because it didn’t lose any of its 1,400o construction jobs over the theAGC said. Akron rankedx 64th, losing 5.
6 percent of its jobs, and had 11,90o0 as of April. In Kentucky, the Lexington-Fayettse metro ranked 99th, losing 8 percent, or 1,00o jobs over the period, and had 11,50 0 as of April. The Louisville-Jefferso County metro lost 5,700 jobs, or 16.8 and had 28,200 as of April. Economist Ken who conducted the analysisfor AGC, said federalp stimulus funds should help add more jobs over the remainderf of the year. But he said that “buu American” provisions attached to funding were holdinv upsome projects.
“We need to make sure needless red tape andregulation don’t keep construction workers off the Simonson said in the Some metro areas gainee jobs, including Odessa, Texas, whicg ranked at No. 1, with an 8 percent increase. Pascagoula, Miss., ranked last with a job-losd rate of 38.8 percent.
That’s because 276 of the 299 largestr metro areas inthe U.S. lost construction jobs over the 12-montu period, AGC said in a Wednesdahy news release. Cincinnati ranked at 108, havingv lost 4,200 jobs, or 8.9 percent, over the As of April, the area had abougt 42,900 jobs. That’s the highest number of jobs inthe however. The next-closest is Columbus, which had 30,50o construction jobs in April, down 13.1 percent; followed by Cleveland-Elyria-Montorr with 29,700 jobs, down 19.9 percent year over year. Springfield had the best at No. 20, because it didn’t lose any of its 1,400o construction jobs over the theAGC said. Akron rankedx 64th, losing 5.
6 percent of its jobs, and had 11,90o0 as of April. In Kentucky, the Lexington-Fayettse metro ranked 99th, losing 8 percent, or 1,00o jobs over the period, and had 11,50 0 as of April. The Louisville-Jefferso County metro lost 5,700 jobs, or 16.8 and had 28,200 as of April. Economist Ken who conducted the analysisfor AGC, said federalp stimulus funds should help add more jobs over the remainderf of the year. But he said that “buu American” provisions attached to funding were holdinv upsome projects.
“We need to make sure needless red tape andregulation don’t keep construction workers off the Simonson said in the Some metro areas gainee jobs, including Odessa, Texas, whicg ranked at No. 1, with an 8 percent increase. Pascagoula, Miss., ranked last with a job-losd rate of 38.8 percent.
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