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NEWS ABOUT: business

Obama to Pick Corzine Aide as EPA Chief

Many tout Jackson's record; others say pick too industry-friendly

(Newser) - Barack Obama’s pick to lead the Environmental Protection Agency is a trained scientist praised as open-minded, though her history of accommodating business gives some environmentalists pause, the Philadelphia Inquirer reports. Lisa Jackson, who would be the first African American in the job, is currently chief of staff to New... More »

Despite Reforms, Russian Firms Most Likely to Bribe

Survey names Belgium, Canada most graft-free nations

(Newser) - Russian and Chinese companies are most likely to mix business with bribes when traveling abroad, a corruption watchdog found, despite promises from their governments to root out graft. Transparency International, which said the kickback trend points to firms from emerging economic powers, cited the practice’s “damaging impact on... More »

Female Thieves in Uganda Use Chloroformed Bosoms

Ugandan crooks rob Lotharios knocked out by chemical on female conspirators' breasts

(Newser) - Ugandan men, particularly traveling salesmen with hefty wallets, have been beset by bandits employing femmes fatale outfitted with chloroform-laden bosoms, the Telegraph reports. After being stripped and relieved of all his possessions, a typical victim “just remembers being in the act of romancing” and nothing after, says one official. More »

Study Paves Way for 'Entrepreneur Pill'

Start-up bosses seen to make tough calls under stress; researchers see hormone link

(Newser) - A study that links entrepreneurial success to risky decision-making, a trait less prevalent among buttoned-up business managers, has scientists pondering whether a pill could boost enterprising behavior. Riskiness is associated with the hormone dopamine, which could inject chutzpah into hesitant managers, the Telegraph reports. Critics doubt chemicals are solely responsible,... More »

Working-Class Anger May Boil Over Soon

(Newser) - For a while now, the divide between rich and poor has gotten bigger, but it "hasn't sparked an outright political revolt," writes Reihan Salam in the Atlantic. That could change soon. Our fragile, 20-year "consumption compromise"—the era of cheap goods and cheap credit keeping economic... More »

TV News Struggles to Explain Crisis Even as Ratings Surge

Networks see viewer interest in formerly esoteric financial instruments

(Newser) - TV news programs are grappling with explaining the financial crisis to an audience suddenly much more interested in business news, the New York Times reports. With CNBC seeing its highest ratings ever and CNN, Fox and MSNBC seeing bumps in recent weeks, news shows have put teams of business pundits... More »

10 Films About Nasty Business

Hollywood takes a cynical approach to bankers

(Newser) - Wall Street executives have it tough these days, but Hollywood has rarely gone easy on guys in suits. USA Today lists 10 definitive films about them:
  • Stagecoach (1939): Like all John Ford movies, this one makes a banker look bad.
  • Splendor in the Grass (1961): A 1930s investor doesn't just
... More »

Gas Prices Fuel Bike-Sale Boom

(Newser) - The world's biggest bicycle maker is having its best year ever, thanks to high oil prices and concerns about both global warming and obesity, the Economist reports. Taiwan-based Giant sells 7% of the world's bikes—460,000 last month—and can't keep up with demand in some markets. New York... More »

LiLo Launches Branding Company

Lohan's 6126 will sell leggings, tanners

(Newser) - In yet another attempt at reinvention, 22-year-old Lindsay Lohan has launched a brand development company that will hawk her merchandising ideas, Women’s Wear Daily reports. Expensive leggings are en route to boutiques this fall, but the company, called 6126, also plans to develop a cheaper spandex line, natural self-tanners,... More »

Oil's Slide as Chaotic as Its Rise

Plunging crude prices can be almost as disruptive as their rise

(Newser) - Crude oil prices have fallen 38% from their July high of $147.27 a barrel, and the decline is causing nearly as much consternation around the world as its meteoric rise in the first half of the year, reports the Washington Post. Oil-dependent governments are worried about revenues and forecasters... More »

Politics, Stars Align for Thai Fortunetellers

Mr. Luck's upbeat, automated predictions on love, life big business in tumultuous times

(Newser) - Fortunetelling, always a big part of Thai culture, is bigger business than ever now, the Wall Street Journal reports. As political unrest buffets the country, an automated telephone astrology service run by a seer known as Mr. Luck is flourishing. "Every time there's a crisis in Thailand, it's a... More »

As Cremations Increase, So Do Options

Lower cost, greater personalization appeal to families

(Newser) - The cremation industry is booming, a reflection of tighter economic times and a push from consumers for more creative funeral options, reports the Washington Post. Cremations, cheaper than traditional burial, rose 7% nationwide in the past 5 years and made up 35% of the funeral market last year. Funeral homes... More »

Denim Detective Unzips Fake Jeans Biz

Designers hire PI's to protect their bottom lines

(Newser) - Chris Johnson likes collecting women's jeans, but he doesn't wear them—he's one of hundreds of fashion detectives hired by designers to spot knockoffs, the Los Angeles Times reports. Johnson trolls stores and Internet sites for clients like True Religion who want to put counterfeiters out of business. The fakes... More »

Protests Close Plant Making World's Cheapest Car

Company to move factory building 'People's Car,' billed as world's cheapest at $2,500

(Newser) - Tata Motors has halted work at the Indian factory where it was producing its Nano model, billed as the world’s cheapest car. A 2-year-long land dispute escalated when West Bengal farmers trapped workers inside, the AP reports, and the company instructed employees to stay home this week. "A... More »

Both Arctic Passages Navigable for First Time

Using Northeast, Northwest shortcuts will be boon to shipping firms

(Newser) - In what scientists say is an historic moment, both Northeast and Northwest Passages are navigable as of this week, and shipping firms are salivating over the  possibilities, Der Spiegel reports. With an increasing number of largely ice-free days every summer, the radical shortcuts offered by the once-treacherous routes will eventually... More »

SEC Wants US Firms to Switch to International Accounting

Multinationals would change first under plan

(Newser) - The Securities and Exchange Commission is planning to require US companies to switch to international accounting rules, the Wall Street Journal reports. The body voted today to seek public comment on a plan for the transition, which would stagger requirements. Large multinational firms would be expected to voluntarily switch in... More »

Obama, McCain Woo CEOs to Shore Up Economic Cred

Candidates try to make up for their lacking economic records

(Newser) - John McCain and Barack Obama are doggedly courting CEOs of leading businesses in an effort to win voters' economic confidence, the Wall Street Journal reports. Each candidate has already lined up a corps of "poster CEOs," including the FedEx chairman, who is supporting McCain, and Warren Buffet, who... More »

Big Bucks Flock to Beijing

(Newser) - The Beijing Olympics are a celebration of sport, for sure, but they are happening in China, which makes them a business opportunity unlike earlier Games. Folks with deep pockets are converging on the capital to wheel and deal, with an eye to the emerging middle-class market of some 300 million... More »

Clog-Maker Crocs Falling Off

Firm has seen drastic decline in sales, share price

(Newser) - Crocs, Inc,. the firm that makes those ubiquitous rubber clogs, is having a bit of a fashion emergency. The stock has lost 90% of its value in less than a year, and the company predicts a 20% sales decline by the end of 2008, NPR reports. The firm’s execs... More »

Big Brother Boss Turns Eye on Home Workers

Employers take screenshots and photos

(Newser) - Think working out of a home office means wearing your jammies and watching YouTube? Not unless you want the boss to see what you watch in your Mickey Mouse PJs. As telecommuting rises, employers are tracking their workers by taking screen snapshots, recording keystrokes, and even taking pictures of workers... More »

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