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Industry News

• Dubai at crossroads to improve legal framework February 8, 2010
  09 Feb 2010 Dubai must ensure a robust and transparent legal framework for creditors in order to ensure its long term future as an international financial centre, according to a leading expert. Khalid... […]
• Washington Prepares for More Winter Storms as Snow Heads Toward New York February 8, 2010
  By Brian K. Sullivan Feb. 9 (Bloomberg) -- Washington’s respite from paralyzing snow may come to an end today as storm systems barreling across the country bring as much as 20 inches (50 centimeters) to a region still snowbound from a weekend blizzard. The latest blast of winter, which may also dump a foot of snow on New York, “is going to be accompanied by […]
• Toyota Halts Lexus, SAI Hybrid Shipments on Same Brake Problems as Prius February 8, 2010
  By Makiko Kitamura and Tetsuya Komatsu Feb. 9 (Bloomberg) -- Toyota Motor Corp. stopped shipments of its Lexus HS250h and SAI hybrids from a factory in southern Japan due to possible brake problems with the models, which use the same system as Prius hybrid cars. Shipments from the factory in Kyushu were stopped yesterday to inspect the models, Norifumi Wakik […]
• Default Rate Declines to 0.3% as Seen in Junk Bond Yields: Credit Markets February 8, 2010
  By Caroline Salas and Pierre Paulden Feb. 9 (Bloomberg) -- Investors in the lowest rated corporate bonds are looking past concern that worsening government finances will derail the economy, paying prices that imply the fastest drop in defaults in more than a decade. The amount of so-called distressed securities, or bonds yielding at least 10 percentage point […]
• Most Asian Stocks Drop on Growing Europe Deficit Concerns; Macquarie Falls February 8, 2010
  By Shani Raja and Anna Kitanaka Feb. 9 (Bloomberg) -- Most Asian stocks fell, led by banks and material companies, amid mounting concern budget deficits in Europe will derail the global economic recovery. Macquarie Group Ltd. , Australia’s largest investment bank, slumped 6.2 percent after its second-half profit forecast disappointed some investors. Westpac […]
• Greece Says Call for Help Would Send `Worst Signal’ as Bond Yields Surge February 8, 2010
  By Svenja O’Donnell and David Tweed Feb. 9 (Bloomberg) -- Greek Finance Minister George Papaconstantinou said he can’t call for outside aid as his government struggles to cut the European Union’s largest budget deficit. “The worst possible signal which we could send out is one calling for outside help,” he said in an interview with Bloomberg Television in At […]
• Toyota to Fix Prius Hybrids Sold in Japan as Global Recall Tops 8 Million February 8, 2010
  By Yuki Hagiwara and Makiko Kitamura […]
• Video: GM India Partner Reva Bets on Energy Management System: Video February 8, 2010
  Feb. 9 (Bloomberg) -- Bloomberg's Jason Bellini reports on Reva Electric Car Co.'s plans to manufacture electric vehicles. The closely-held Indian automaker is developing an electric vehicle with GM. Reva plans to set up four overseas automaker ventures that may be profitable building as few as 5,000 cars a year. (Source: Bloomberg) […]
• Video: Miringoff Sees Obama Rating Hit by Health Care Gridlock: Video February 8, 2010
  Feb. 9 (Bloomberg) -- Lee M. Miringoff, the director of Poughkeepsie, New York-based Marist College’s Marist Institute of Public Opinion, talks with Bloomberg's Susan Li about President Barack Obama's approval rating. The Marist Poll found that 57 percent of independent voters have a negative view of Obama’s job performance, up from 44 percent in a […]
• SAP Management Upheaval Pits Plattner Against Ellison in Market Share Spat February 8, 2010
  By Ragnhild Kjetland Feb. 9 (Bloomberg) -- SAP AG Co-Founder Hasso Plattner may have a bigger challenge as he picks up his rivalry with Oracle Corp. -- again. The 66-year-old supervisory board chairman, who’s also the company’s biggest shareholder, is assuming a greater management role at the world’s largest business-management software maker, helming what h […]