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For Apple, Growing Complexity Means More Glitches Than Ever
Why Won't Google Video Just Die?
As YouTube's dominance of the video market grows, it seems increasingly likely that Google Video will eventually get folded into the mammoth site.
 
A Dot-Com Banker Who's Stuck in the Past
News from Portfolio.com
Frank Quattrone thinks the dearth of startup IPOs in today's market is due in large part to the Wall Street research reforms made after the tech bubble burst.
He's wrong.
At a technology conference at Stanford University yesterday, Quattrone said the industry should petition to remove the regulations that prevent sell-side research analysts from being compensated for their efforts in getting startups through the IPO process. "It hurts the competitiveness of our country to deny companies access to research analysts," he said.
The reforms were made after then New York Attorney General Eliot Spitzer went after research analysts including Henry Blodget and Jack Grubman for publicly recommending stocks they privately disparaged.
Quattrone, who was arguably Silicon Valley's top investment banker during the dotcom boom, spent years fighting federal charges relating to an investigation into his allocation of IPO shares. He eventually prevailed, and he now runs a technology boutique bank called Qatalyst Group.
To understand why Quattrone is wrong, it's helpful to remember how Wall Street research worked before the reforms. I witnessed it firsthand as a research associate at Hambrecht & Quist in the mid-1990s, when startup software companies were practically lining up at the door for their chance at the public markets.
Research analysts back then were more like startup consultants, doing everything from working with bankers to pitch new business to IPO candidates to hosting roadshow presentations with institutional clients ahead of the offering.
There was no "Chinese Wall" between banking and research. I once had a banker ask me for the models for two companies we covered, because they were weighing a merger. In fact, bankers and research analysts worked so closely that it was difficult to determine where one department stopped and the other started.
Both groups received bonuses based on the business they won and the performance of the stocks after their debut. That's all well and fine for the bankers, who moved on to other deals after celebrating at the closing dinner. But 25 days after the IPO, the research analyst was supposed to initiate coverage using his objective analysis.
Invariably, this recommendation would be a "buy" or a "strong buy."
At H&Q, only once did I see an analyst initiate coverage of a hot IPO the bank had underwritten with a "hold" recommendation. The stock, i2 Technologies, had simply climbed too high in the first few weeks of trading to justify an investment recommendation.
The morning his report was issued, the analyst faced a stream of irate institutional sales staff and perturbed bankers. They flooded his office, screaming at him behind closed doors, reminding him how much i2 had just paid the bank.
Under the new rules, this scenario would seem preposterous. Bankers and research analysts are physically separated, and they must clear legal hurdles even to speak. Research analysts rightfully play no role in pitching the startups or in selling the stock to institutional investors. And they also don't receive additional compensation for business the bank gets from companies they cover.
Quattrone argues that this is all wrong, and that startups can't attract investor interest without the expertise of the research analysts. He thinks that's partly to blame for the fact that we're not seeing many IPOs in Silicon Valley these days.
He argues that small companies can't get coverage because the few research analysts left on Wall Street only focus on large cap stocks.
The fact is, startups shouldn't have to rely on their bank's analysts to sell their story for them. If their business model is sound and their valuation reasonable, their stocks will get noticed by institutions.
And why should any bank's institutional clients be subjected to a sales pitch from an analyst who is fundamentally incapable of providing an objective opinion? Individual investors aside, it's the banks biggest clients who should be thankful they no longer have to hear a used-car sales pitch from their brokers every morning.
The IPO market isn't thriving for many reasons. But bringing back the old sell-side research scheme to revive it isn't the answer.
 
Microsoft Exec Who Led Yahoo Buyout Team to Leave
Kevin Johnson, the Microsoft executive in charge of Windows and Web operations and an key player in the company's (thus far?) failed bid to buy Yahoo, is leaving the company to become CEO at Juniper Networks. It's unclear whether he jumped or was pushed.
 
The Broadband Boom May Be Over
AT&T reports a measly 46,000 broadband subscribers added during the second quarter, down from nearly half a million in the first quarter. The numbers imply that broadband growth has come to a screeching, painful halt. The news doesn't bode well for other broadband providers.
 
Electronics Giants to Create Wireless HD Standard
Wireless HD video gets a big boost as Sony, Samsung Motorola, Sharp and Hitachi join forces to support a technology that could send high-definition video signals from a single set-top box to screens around the home. Consortium members Sony and Samsung also support a competing technology, but at least the race is on.
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Yahoo Q2 Profit Down, Below Analyst Views
Yahoo's performance isn't as bad as many investors feared after its rival, search and advertising leader Google Inc., posted second-quarter earnings that disappointed Wall Street last week.
 
EMusic Extends Into Social Networks
The DRM-free music retailer eMusic has linked up with several Web 2.0
hotspots to give subscribers more bang for their buck and allow them
to post album excerpts to social networks.
 
TiVo to Cash In on Couch Potato Commerce
TiVo is looking for new ways to generate revenue from its existing subscriber base. Its most recent plan: Let subscribers shop through Amazon while watching TV.
 
Microsoft to Sell Home-Brewed Xbox Games, Share Revenue
Microsoft announces its going to let home-brew gamemakers sell their games to other Xbox 360 owners online, and take a share of the revenue.
 
Wired: Tech Biz
Dispatches from Silicon Valley.
Chicago news, weather, sports, traffic and video from cbs2chicago.com
Chicago news, weather, sports, traffic and video from cbs2chicago.com
Housing rescue on track to pass the Senate by today
WASHINGTON -- The Senate cleared the last hurdle Friday to passing a housing rescue aimed at sparing hundreds of thousands of homeowners from foreclosure and bolstering troubled mortgage giants Fannie Mae and Freddie Mac.
Small Retail: Revival in Georgetown
Revival Home & Garden brings vintage home decor to Georgetown.
Of Mutual Interest: Like investors, some funds add cash in an uneven market
With the thuds of falling stock prices emanating from Wall Street in recent months, it's understandable that some investors might want to bolt and bury themselves in cash.
Mortgage rates rise to highest level in a year
Mortgage rates took a big jump this week, to their highest point in a year. There's no single explanation for the rise.
Drug data could boost Amgen
Amgen said Friday that a highly anticipated study of its Denosumab treatment for bone loss showed that the therapy reduced the incidence of new fractures in women with postmenopausal osteoporosis.
Group wants an end to 401(k) loans
Would you still put money in a tax-advantaged retirement fund if you couldn't touch it until you retired?
Tainted tomatoes sets off scramble for better tracking
WASHINGTON -- When there's an urgent need to trace fruits and vegetables in a crisis like the salmonella outbreak, a lot of the pieces for a rapid-response system already exist. But nobody has quite figured out how to put them together to operate seamlessly in the vast American marketplace.
FCC clears merger of only two satellite radio operators
WASHINGTON -- Federal regulators have formally approved the merger of the nation's only two satellite radio operators, ending a 16-month-long drama closely watched by Washington and Wall Street.
Buyers snap up stocks of losing banks
With many banks still reporting massive write-downs and even quarterly losses from bad mortgage investments, it certainly seems like an odd time for financial stocks to rally.
Business Briefing
Puget Sound Energy makes solar group's Top 10 list ... Toyota raises suggested retail price of Prius hybrid ... Honda Motor reports record profit in fiscal first quarter ... plus shipping news
Microsoft defends its big online gamble
Microsoft Corp. sought to persuade skeptical investors Thursday that spending on its unprofitable Internet business will be a worthwhile bet in the long run. Many appeared unconvinced.
High-fashion, low-cost H&M sweeps into Seattle
Seattle's first H&M store opens Friday at the newly remodeled Westfield Southcenter mall in Tukwila -- the first of three stores in the Seattle area.
Boeing stock slumps for second day
Shares in The Boeing Co. took their biggest tumble in a month Thursday, a day after the company failed to impress Wall Street with a less-than-stellar earnings report.
Venture Capital: Business owner can rev up with Accelerator
Entrepreneurs helping entrepreneurs is the goal of a new program -- dubbed Accelerator -- that a group of Seattle business leaders are starting this fall.
Physio-Control rival contacts customers
A Massachusetts company is pursuing Physio-Control's customers aggressively, questioning why emergency service providers are continuing to buy the Redmond firm's products when the FDA has banned their sale to other customers.
Economy mired in cycle
Two cornerstones of the U.S. economy -- jobs and housing -- sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
Financial adviser's tax conviction stands
A federal appeals court on Thursday declined to overturn the income tax-evasion conviction of Wade Cook, a local financial advisor who in August was sentenced to 88 months in federal prison and ordered to pay $3.8 million in back taxes
Earnings: Columbia Banking's profits slip in second quarter
Columbia Banking System Inc. said its second-quarter profit slumped from $8.5 million, or 53 cents a share, in the year-ago period to $1.9 million or 11 cents a share.
WaMu denies that liquidity is a concern
Washington Mutual Inc. tumbled for a second day in New York trading after a research analyst said unsecured creditors were "pulling funds" from the biggest U.S. savings and loan.
Inside Entrepreneurship: Starting a family business? Plan ahead
Before you go into business with your friends or family, consider some points for discussion.
Ford shifts gears as it posts worst loss
Ford Motor Co., which posted its worst quarterly loss ever Thursday, expects the U.S. economy will begin to recover in 2010, said Chief Executive Alan Mulally. Ford, however, will not.
Business Briefing
Stake in Russell Investments sold to Japan's Nippon Life ... Grand jury investigating trio of failed California lenders ... Another Wachovia executive leaving struggling bank ... Merger of satellite radio companies closer to reality ... plus new top officers.
Technology Briefing
Third Washington tech firm acquired in less than a week ... Glaser explains games spin-off from RealNetworks.
Seattle Post-Intelligencer: Business News
Read business stories from seattlepi.com
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Congress Sends Housing Relief Bill to Bush
The Senate, convening for a rare Saturday session, approved the huge package by a vote of 72 to 13.
Can Hank Paulson Defuse This Crisis?
The Treasury secretary, Henry M. Paulson Jr., preached against “excessive regulation.” But he now finds himself leading an expansive government intervention.
Metal Fatigue or Explosion Suspected on Qantas Jet
An explosion in the cargo hold or metal fatigue were being explored as possible causes of a hole in the jet’s fuselage.
Scene Stealer: Steven Spielberg’s Director’s Cut
Steven Spielberg’s recently announced partnership with an Indian group to form a new movie company contains an element of shock: that Hollywood could not come up with a rich enough deal for him.
Economic View: A Modest Proposal: Eco-Friendly Stimulus
Cash for Clunkers, a generic name for a variety of programs under which the government buys up some of the oldest, most polluting vehicles and scraps them, should be expanded nationwide.
After Iowa Raid, Immigrants Fuel Labor Inquiries
Following a raid at an Iowa meatpacking plant, immigrants have described pervasive labor violations that experts say could result in criminal charges.
Agents Replaying a Hollywood Drama
How the talent agency Endeavor, founded in 1995, goes about proving it has staying power offers a window onto the shifting landscape of talent brokering in Hollywood.
Everybody’s Business: It’s Bad, but Remember We’re Dodging the Worst
The economy isn’t at its best, oil prices are painfully high, foreclosures are really hurtfully high, job growth in many areas is sluggish or worse ... but over all, it’s not all that bad.
Digital Domain: First It Was Song Downloads. Now It’s Organic Chemistry.
Between used books and pirated copies offered for illegal download, the textbook industry has begun to transition to other models of distribution and sales.
Prototype: Finding and Fixing a Home’s Power Hogs
The average American home has 27 power-sucking devices that are always on — but how much they actually consume, most people don’t know.
Black Radio on Obama Is Left’s Answer to Limbaugh
Black radio hosts’ efforts to support Barack Obama could help increase voter turnout in a vital part of his coalition.
Baseball Team Clashes With Environmentalists Over Oil Company Advertising
Environmentalists are protesting the advertising relationship between the Washington Nationals and ExxonMobil.
Raucous Russian Tabloids Thrive Despite Narrowing of Press Freedom
The Komsomolskaya Pravda newspaper, once serving Soviet official propaganda, has reinvented itself as a tabloid, with huge success.
Working Long Hours, and Paying a Price
We might feel like we want or have to work longer hours, but it takes it toll on our work and on our lives.
Fundamentally: In a Downturn, Buy and Hold or Quit and Fold?
The misery for investors doesn’t stem just from the recent sell-off, which pushed stocks into an official bear market. The problem is deeper than that.
Preoccupations: Called to Help: 28 Years as a Lifeguard
The idea that the job of a lifeguard is something straight from the TV show “Baywatch” could not be further from the truth.
It’s All About Perspective
Vikki Pryor is the chief executive of SBLI USA Mutual Life Insurance and S.USA Life Insurance.
Mortgages: Thieves Tap Into Home Equity
Identity thieves are scheming to defraud people with good credit by tapping into their home equity.
Blueprints: A Frosty Headquarters for the N.H.L.
The interior of the N.H.L.’s new headquarters in Midtown Manhattan is a montage of materials and wintry colors that reflect the game of hockey.
The Count: Credit Squeeze Puts Dream on Back Burner
A severe tightening of credit is preventing more people than before to start their own companies.
Suits: Start-Up Status Gone With the Skate Ramp
An online emporium of handmade goods based in Brooklyn decides to forgo the startup status and hire professional management.
DataBank: A Midweek Flourish That Didn’t Last
The stock market, buoyed Tuesday and Wednesday by optimistic earnings reports and a drop in oil prices, showed signs of moving beyond tepid gains.
Letters: Do-It-Yourself Baby Care
Letter about the article “Baby Cries At 2 A.M.? No Need To Get Up” (Fresh Starts, July 20)
Letters: Saving Medicare
Letter about the article “Means Testing, for Medicare” (Economic View, July 20)
Letters: Keep It Short
Letter about the article “Another Meeting? Say It Isn’t So” (Career Couch, July 20)
Putting the Dream Car Out to Pasture
America’s romance with the automobile is being severely tested now that every trip causes financial worry, environmental guilt and self-consciousness about the size of your car.
The Medium: Prime Times
Why the best new TV shows are set in the medium’s heyday.
Lewis Hamilton Just Wants to Go Fast
He’s the next big thing in Formula One auto racing. But can he hang on to his innocence in the revved-up whirl of Grand Prix?
The Young Turks of Cyberspace
A close-up look at the creators of the likes of Facebook and YouTube.
The World: Scandal! Fleet Street Without Sex!
Britain’s courts say celebrities have a right to cavort in privacy.
Branded
Today’s savvier consumers are said to be more impervious to advertising. Rob Walker says: nope.
The Way We Live Now: No Free Bubble
Why the government should not be in the bailout business.
Fair Game: How One Borrower Beat the Foreclosure Machine
Who owns the note on a home when it is forced into foreclosure, often a murky question, is among the factors that have helped homeowners facing foreclosures to fight back.
NYT > Business
Homeowner Rescue Awaits President Bush's Signature
Despite reservations, Bush ready to sign mortgage relief for 400,000 strapped homeowners
FCC Approves XM-Sirius Merger
$3.3 billion buyout will mean greater choices, cost cuts for customers.
Need a Parking Spot? Go Online
San Francisco to implement nation's largest network for monitoring parking.
Celebs Cash in on Cell Phone Deals
Usher, David Beckham aren't shy about helping sell cell phones.
Help on the Way? Housing Bill Set to Pass
The Senate has cleared the last hurdle on a bill to help 400,000 homeowners.
Stocks Rally on Two Upbeat Reports
Wall Street surges on upbeat readings on consumer sentiment, home sales.
New Home Sales Drop in June
The 0.6 percent drop was smaller than expected.
Credit Cards: The Next Financial Crisis?
To make up for losses, card companies raise interest rates, lower limits.
Could Age Discrimination Be Good Business?
John Stossel examines whether age-discrimination laws make sense.
The Brew-haha Over Budweiser
Waffles, soccer, Jean-Claude Van Damme and... Budweiser? Some say no way.
3-Day Weekend: Schools Out for Gas Prices
Rural school districts are switching to a four-day week to cut back on busing.
Save $2,000 a Year: Take the Train
With record-high gas prices, good public transit may be the ultimate answer.
Lawyer Sues Delta Over 3-Day Delay
Delayed trip and 'disrespectful' employees spark nearly $1M lawsuit.
The Latest Airline Casualty: Pretzels
US Airways is eliminating free snacks in coach class on domestic flights.
This Summer Home Comes With a Nose Job
A Hamptons rental includes a chef, driver and unlimited plastic surgery.
RSS Feed: Send News to Your Computer
Get the latest business headlines from ABC News.
ABC News: Money
NewsWatch: Aid for housing, Fannie, Freddie clears Senate
Congress passes a housing rescue bill designed to help more than 400,000 homeowners avoid foreclosure and President Bush is expected to sign the measure quickly.
UBS AG suspends U.S. head of fixed income - report
Swiss bank UBS AG has suspended David Shulman, the firm's head of fixed income in the U.S. and global head of municipal securities, according to a published report Saturday.
Two more banks fail; Mutual of Omaha Bank buys deposits
Two more banks are shut down by federal regulators late Friday, bringing to seven the number of bank failures so far this year.
Aid for housing, Fannie, Freddie clears Senate
Congress passes a housing rescue bill designed to help more than 400,000 homeowners avoid foreclosure and President Bush is expected to sign the measure quickly.
FCC gives green light to XM-Sirius merger - reports
The Federal Communications Commission has approved Sirius Satellite Radio Inc.'s acquisition of rival XM Satellite Radio Holdings Inc., according to published reports.
NewsWatch: U.S. stocks brace for more earnings, jobs report on tap
The market will try to regain some momentum next week, another week heavily loaded with earnings, with investors also awaiting the June jobs report and second-quarter growth figures for an update on the health of the economy.
Auto Review: 2009 Nissan GT-R -- Breathtaking bargain
The anticipated Nissn GT-R not only goes head-to-head with the Porsche and Corvette, but beats them and at a good price. Car writer Ron Amadon takes us along for the terrific ride.
NewsWatch: U.S. stocks brace for more earnings, jobs report on tap
The market will try to regain some momentum next week, another week heavily loaded with earnings, with investors also awaiting the June jobs report and second-quarter growth figures for an update on the health of the economy.
Personal Finance Daily: The week's 10 best Personal Finance stories: July 21-25
In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of July 21-25:
Market Snapshot: U.S. stocks brace for more earnings, jobs report on tap
The market will try to regain some momentum next week, another week heavily loaded with earnings, with investors also awaiting the June jobs report and second-quarter growth figures for an update on the health of the economy.
MarketWatch.com - Top Stories
MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products.
China and Britain ready to exploit Tibet's natural resources
Despite political tensions in the country, its huge deposits of gold and other metals are proving too big a temptation for foreign miners, David Eimer reports from Beijing.
Russians in turmoil as prosecutors deny summoning TNK-BP boss
In what is becoming an increasingly farcical situation, the Moscow prosecutor's office yesterday denied reports that the head of strife-torn Anglo-Russian oil group TNK-BP had been summoned for questioning.
Why Beijing Olympic medals are worth their weight in gold
The status of Olympic medallist may have been tarnished by the drug scandals of previous Games, but the value of the medals themselves is soaring on the back of recent increases in commodity prices.
High price of fashion leads Cavalli to call off sale talks
The Italian designer Roberto Cavalli has called off talks with a group of private equity firms about the sale of a stake in one of the world's most famed fashion empires after failing to reach agreement on the value of the business.
MFI recruits Hilco bosses
Two senior directors at Hilco, the turnaround specialist, have joined the board of MFI, the furniture retailer, in a move likely to fuel speculation that the chain is struggling.
FTSE100 bosses see share values plunge
The chief executives of Britain's blue-chip companies have seen the value of shares awarded to them during the past year fall in value by a total of nearly £20m.
Treasury plan to rescue mortgage lenders
The Treasury is preparing a radical rescue plan for the housing market which may involve pumping billions of pounds into the stricken mortgage markets.
'Wise man' Bob Wigley on shortlist to chair Prudential
Bob Wigley, the head of Merrill Lynch's European operations and one of the City of London's most seasoned bankers, is among a group of candidates vying to become the next chairman of Prudential, Britain's second-biggest insurance group by market value.
Taylor Nelson Sofres courts suitors to trump WPP bid
Taylor Nelson Sofres, the market research group, is secretly courting a pack of potential suitors - including its biggest global competitor - in an attempt to evade the clutches of Sir Martin Sorrell's WPP Group.
Unilever kicks off hunt for successor to Patrick Cescau
The Anglo-Dutch consumer goods group Unilever has begun a formal search for a successor to Patrick Cescau, its chief executive, The Sunday Telegraph has learned.
Telefonica's results to accentuate Vodafone's pain in Spain
The depth of Vodafone's problems in Spain will be underlined this week when its rival Telefonica reports a much stronger performance than the UK group in the Spanish mobile market.
Yacht owners sail close to the wind as fraud claims rise
Yacht owners are making more suspected fraudulent claims as economic woes continue to bite.
China and India are crucial for General Motors
The car giant must crack China to succeed in the long term, its Far East boss tells James Quinn in New York.
The problem of executive pay now share options aren't paying
Demands on bosses are becoming ever more strenuous, just as pay packets are dwindling, writes David Litterick.
George Bush and Manmohan Singh help to keep trade talks alive
Might it go down as the telephone call that helped to salvage George W Bush's legacy as President of the United States?
BA price-fixing charges to be filed next month
Competition regulators are preparing to announce price-fixing charges against a quartet of current and former British Airways executives on August 7, setting the scene for a watershed criminal prosecution, The Sunday Telegraph has learned.
Iris Worldwide spreads wings with HBOS backing
One of Britain's fastest-growing independent agencies is defying the gloom with plans for an ambitious expansion.
HgCapital stalks media group Wilmington
HgCapital, the private equity group, is considering making a formal takeover approach to the board of Wilmington, the media company that publishes Press Gazette, the journalists' trade magazine.
Russia reaches investors' tipping point after BP affair sours
After TNK-BP's president Robert Dudley fled Russia earlier this week, foreign investors fear they are witnessing a return to the dark days of the 'Wild East'.
Four Seasons' re-financing failure will hit those in the autumn of their life
When debt was aplenty, private equity piled into care homes. Now, bankruptcy looms.
Downbeat outlook sparks talk of HBOS takeover
The bank's rights issue has not eased its troubles, writes Katherine Griffiths.
The state of the economy needs to be put in its proper perspective
Last week, the notion the UK will enter "technical recession" became conventional wisdom. Much of the country now seems to accept we'll experience at least two consecutive quarters of falling output.
The Lion king of private equity takes pride in his work
Lyndon Lea's ambition from childhood was to work for a private equity firm - and the founder of Lion Capital does not take criticism of the sector lying down.
Architects aim to build up to a grander design
Nicholas Thompson, the chief executive of Aim-listed architects' firm Aukett Fitzroy Robinson, is yet another member of the growing club of business leaders who are bemused by the strength of their companies and the weakness of their share prices.
Currencies
Currencies
British Airways chiefs face price-fix charges
The Office of Fair Trading may bring a prosecution against four executives from British Airways over allegations they were involved in price-fixing.
Harbinger seeks approval for Inmarsat bid
Hopes of a bid for Inmarsat were reignited after US hedge fund Harbinger said it plans to make an offer for the UK satellite company, pending regulatory approval, and combine the group with its SkyTerra business.
Rio Tinto targets potash as fertiliser sales soar
Rio Tinto wants to grab 10pc of the world potash market as demand for the fertiliser grows in step with biofuel production, Preston Chiaro, chief executive of Rio's energy and minerals unit said.
Sloanes: It's hard below the £15m watershed
They come bedecked in pearls and clad in Barbour jackets, exuding an unshakeable sense of privilege: it's fair to say that according to the stereotype, Sloanes do not usually need our sympathy.
How to survive the credit crunch, Sloane-style
The shops are a lot quieter on the King's Road than they used to be, but I'm not really letting it stop me spend money - I'm still going out to Mamilanji's Club tonight
Sir Martin Sorrell is not swayed by tax U-Turn
WPP chief executive Sir Martin Sorrell has said he is unimpressed by the Government's promise to scrap plans for a special new tax on multinational companies.
Insurers' strength is sapped by warning
The insurance sector dragged the market lower as the interim reporting season got underway with a profits warning from Germany re-insurance giant Munich Re.
Former bosses blamed for Rentokil woes
Rentokil Initial, the rat-catching-to-lavatory-cleaning group, has attacked its former management as it issued its fourth profits warning in eight months.
Rentokil is in need of a good clean-up
Rentokil has finally caught a rat - a king-sized sewer-dwelling creature with fleas. Alan Brown, the company's new rat catcher general, was holding it up by the tail yesterday, nose pinched between two fingers as shareholders were overcome by the fumes. The rotting rodent is its own business, specifically "UK Washrooms" although other divisions are wriggling in Brown's rat trap, including delivery service City Link.
TNK-BP row 'is bad for Russia' says British Foreign Office
The British Foreign Office has weighed into the row over the forced departure from Russia of Robert Dudley, chief executive of BP's joint venture in the country, describing the dispute as "bad news" for the Russian economy and calling on President Dmitry Medvedev to uphold the rule of law.
Barratt holds joint venture talks in funding bid
Struggling housebuilder Barratt has held preliminary talks with major UK banks about creating joint ventures to own and rent out new homes it is struggling to sell.
Sub-prime losses hit National Australia Bank
National Australia Bank (NAB), which owns Clydesdale and Yorkshire banks in the UK, shocked the market by hiking up provisions for losses on US subprime loans.
BP's bottom line shows quality
It isn't just Russia where BP staff are having a tough time. I'm told that, following a week of woes that led to 60 staff and the chief executive of the TNK/BP joint venture quitting Russia, it's now time for UK staff to deal with hard times.
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