July 2009

Wanderport Corporation Announces Mr. Robert Simoneau as Head of Technological Research and Development

July 28, 2009

NEW YORK, NY–(Marketwire – July 28, 2009) – Wanderport Corp. ( PINKSHEETS : WDRP ) announced today the addition of Mr.

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Kerviel Lawyer Says Societe Generale Managers Knew About Trading Positions

July 28, 2009

By Gregory Viscusi July 28 (Bloomberg) — Jerome Kerviel , the trader blamed by Societe Generale SA for a 4.9 billion-euro ($7 billion) loss last year, repeated arguments in a court filing that his superiors knew about his activities. Kerviel never tried to hide his trading and about 300 people at the bank would have had access to the positions entered on his computer, his attorney, Olivier Metzner , said in an interview today. Metzner filed arguments to a Paris court rebutting prosecutors’ recommendation that Kerviel be tried for abuse of trust, falsifying documents and computer hacking

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Zimbabwe Share Trading Value Surges, Surpassing Kenya, RenCap’s Danha Says

July 28, 2009

By Janice Kew July 28 (Bloomberg) — Zimbabwe share trading has surged to $1.3 million a day, surpassing Kenya, as the east African nation’s economy recovers from a decade-long recession, says Renaissance Capital. Daily transactions have increased from $50,000 in March as foreign investors return, making the Zimbabwe Stock Exchange the third-biggest in sub-Saharan Africa by trading value, according to the Moscow-based brokerage with offices in Africa. Reserve Bank of Zimbabwe Governor Gideon Gono ordered the shutdown of the exchange in November, alleging some traders were engaged in fraud, as President Robert Mugabe blamed pressure from western countries for pushing the economy toward collapse.

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Aluminum Rises for 11th Day, Heading for Longest Gain in at Least 22 Years

July 28, 2009

By Anna Stablum July 28 (Bloomberg) — Aluminum rose for an 11th day, the longest advance in at least 22 years, on signs of increased demand from manufacturers. Nickel climbed to a 10-month high. Aluminum has jumped 19 percent since July 13 on speculation automobile manufacturers will need more of the metal in the current quarter as growth in supplies slows. Japan’s shipments of aluminum rolled products dropped at the slowest pace in seven months in June as demand from can and carmakers gained, the Japan Aluminium Association said in a statement today.

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China Plans to Cut Gasoline, Diesel Prices by 3.3% After Three Increases

July 28, 2009

By Bloomberg News July 28 (Bloomberg) — China, the world’s second-biggest energy user, cut gasoline and diesel prices by at least 3.3 percent after three increases since March triggered public concern that fuel costs are too high. Pump prices for 90 octane gasoline will be set at a maximum of 5.7 yuan ($0.83) a liter, or about $3.14 a gallon, in Beijing, the National Development and Reform Commission said in a statement on its Web site. Prices were adjusted to reflect the decline in global crude prices, said China’s top planning agency

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Sprint Nextel Plans to Buy Branson’s Virgin Mobile USA for $483 Million

July 28, 2009

By Bill Koenig July 28 (Bloomberg) — Sprint Nextel Corp. said it would acquire Virgin Mobile USA Inc. for $483 million, or $5.50 a share.

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IBM Agrees to Purchase Statistical Software Maker SPSS for $1.2 Billion

July 28, 2009

By Julie Alnwick July 28 (Bloomberg) — International Business Machines Corp. , the world’s biggest computer-services provider, said it will buy SPSS Inc. for about $1.2 billion in cash to gain analytics software. The per-share price is $50, the companies said today in a statement.

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Dollar Reaches 2009 Low as View Recession Easing Reduces Demand for Safety

July 28, 2009

By Matthew Brown and Yasuhiko Seki July 28 (Bloomberg) — The dollar touched the lowest level this year against the currencies of six major U.S.

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Spotlight on Goldman as commodities hearings begin

July 28, 2009

Spotlight on Goldman as commodities hearings begin

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Twitter leaks show how far the company has to go

July 28, 2009

Twitter leaks show how far the company has to go

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Insiders have quickened the pace of their selling

July 28, 2009

Insiders have quickened the pace of their selling

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Northgate Minerals Corporation Terminates Discussions with Dioro Exploration NL

July 28, 2009

Northgate Minerals Corporation Terminates Discussions with Dioro Exploration NL

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Spring Creek Capital Corporation (OTCBB: SCRK) Hires Industry Veteran to Lead New Venture in Stem Cell Sector

July 28, 2009

MERRITT ISLAND, FL–(Marketwire – July 28, 2009) – Spring Creek Capital Corporation ( OTCBB : SCRK ) announced today that it has completed successful negotiations with veteran stem cell industry pioneer Dwight C Brunoehler to prepare and execute a novel forward looking business plan in the stem cell sector.

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Spring Creek Capital Corporation (OTCBB: SCRK) Hires Industry Veteran to Lead New Venture in Stem Cell Sector

July 28, 2009

MERRITT ISLAND, FL–(Marketwire – July 28, 2009) – Spring Creek Capital Corporation ( OTCBB : SCRK ) announced today that it has completed successful negotiations with veteran stem cell industry pioneer Dwight C Brunoehler to prepare and execute a novel forward looking business plan in the stem cell sector. A new portfolio company will be formed by Spring Creek to undertake this new venture

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Grass Roots Announces Appointment of President and CEO of the Americas and New Leadership Team to Expand North American Operations

July 28, 2009

Chief Technology Officer, Vice President Global Solutions and Vice President of Business Development Join to Drive Business Growth

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Grass Roots Announces Appointment of President and CEO of the Americas and New Leadership Team to Expand North American Operations

July 28, 2009

Chief Technology Officer, Vice President Global Solutions and Vice President of Business Development Join to Drive Business Growth

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Foundation awards $20 million grant to South Carolina colleges

July 28, 2009

Foundation awards $20 million grant to South Carolina colleges

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Corona, Calif., aims to crack down on illegal street vendors

July 28, 2009

Corona, Calif., aims to crack down on illegal street vendors

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Corona, Calif., aims to crack down on illegal street vendors

July 28, 2009

Corona, Calif., aims to crack down on illegal street vendors

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Ballard Reports Second Quarter 2009 Results

July 28, 2009

Ballard Reports Second Quarter 2009 Results

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Ballard Reports Second Quarter 2009 Results

July 28, 2009

Ballard Reports Second Quarter 2009 Results

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CalPERS Names External Affairs Director

July 28, 2009

CalPERS has promoted Patricia Macht to director of external affairs More here: CalPERS Names External Affairs Director

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Porsche Farce Hits Inspector Clouseau of Finance: Matthew Lynn

July 28, 2009

Commentary by Matthew Lynn July 28 (Bloomberg) — It never takes much to get German industrialists and politicians complaining about Anglo-Saxon capitalism. They line up to point out the flaws of U.K. and U.S

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Porsche Farce Hits Inspector Clouseau of Finance: Matthew Lynn

July 28, 2009

Commentary by Matthew Lynn July 28 (Bloomberg) — It never takes much to get German industrialists and politicians complaining about Anglo-Saxon capitalism. They line up to point out the flaws of U.K. and U.S. businesses dominated by shareholders and driven by takeovers

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Bashing Goldman Sachs Is Simply a Game for Fools: Michael Lewis

July 28, 2009

Commentary by Michael Lewis July 28 (Bloomberg) — From the moment I left Yale and started working for Goldman Sachs , I’ve felt uneasy interacting with those who don’t.

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Bashing Goldman Sachs Is Simply a Game for Fools: Michael Lewis

July 28, 2009

Commentary by Michael Lewis July 28 (Bloomberg) — From the moment I left Yale and started working for Goldman Sachs , I’ve felt uneasy interacting with those who don’t. It’s not that I think less of Goldman outsiders than I did while I remained among you. It’s just that I feel your envy, and know that nothing I can do or say will ever persuade you that I am no more than human. Thus, like many of my colleagues, I have adopted a strategy of never leaving Goldman Sachs, apart from a few brief, spasmodic attempts to make what you outsiders call “love” or “ the beast with two backs .” Goldman recognizes how important it is for its people to replicate themselves.

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South Africa’s Unemployment Rate Increases to 23.6% as Zuma Faces Protests

July 28, 2009

By Nasreen Seria July 28 (Bloomberg) — South Africa’s unemployment rate , the highest of 62 countries tracked by Bloomberg, climbed for a second consecutive quarter in the three months through June, threatening to stoke social tensions that have sparked a wave of protests. The jobless rate increased to 23.6 percent from 23.5 percent in the first three months of the year, Statistics South Africa said in a report released in Pretoria today

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India Leaves Interest Rates Unchanged on Concern Inflation Will Rebound

July 28, 2009

By Cherian Thomas July 28 (Bloomberg) — India’s central bank kept borrowing costs unchanged, signaling an end to its deepest round of interest-rate cuts on concern that inflation will “creep up” from October.

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Drowning Endowments at NYU, Colgate Trap Student Financial Aid Underwater

July 28, 2009

By Oliver Staley July 28 (Bloomberg) — Millions of dollars for financial aid is out of reach at New York University, trapped in endowment accounts that can’t be touched because of a once-obscure state law thrust into prominence by historic investment losses. NYU, based in Manhattan, is freezing salaries and trimming office supply costs to help pay for financial aid after about half its scholarship endowments, valued at $33 million in 2007, fell “underwater,” meaning they’re worth less than the gifts that originally created them, the university said. In New York and at least three other states, schools and other nonprofits are barred by law from spending out of those accounts. Princeton University, in New Jersey, and Colgate University, in Hamilton, New York, are among schools with plunging investments which have endowments underwater

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Drowning Endowments at NYU, Colgate Trap Student Financial Aid Underwater

July 28, 2009

By Oliver Staley July 28 (Bloomberg) — Millions of dollars for financial aid is out of reach at New York University, trapped in endowment accounts that can’t be touched because of a once-obscure state law thrust into prominence by historic investment losses.

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Drugmakers May Enter Ad Wars With $100 Million for Health Overhaul in Fall

July 28, 2009

By Shannon Pettypiece and Timothy J. Burger July 28 (Bloomberg) — Drugmakers may ramp up their push for an overhaul of the U.S

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Drugmakers May Enter Ad Wars With $100 Million for Health Overhaul in Fall

July 28, 2009

By Shannon Pettypiece and Timothy J. Burger July 28 (Bloomberg) — Drugmakers may ramp up their push for an overhaul of the U.S. health care system by spending $100 million on ads starting as early as September, said a person familiar with the discussion. The Pharmaceutical Research & Manufacturers of America , the industry lobbying group, discussed funding the advertising campaign during a meeting last week in Washington, the person said

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Bank of China to Continue Lending Expansion Unless Government Clamps Down

July 28, 2009

By Bloomberg News July 28 (Bloomberg) — Bank of China Ltd. , which doled out the most loans among Chinese banks in the first half, plans to keep expanding credit unless the government clamps down on the nation’s record lending boom

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Former UBS Executive Joseph Grano Says Bank Ignored Paine Webber Pleas

July 28, 2009

By Christine Harper July 28 (Bloomberg) — Joseph Grano , who ran UBS AG ’s U.S. wealth-management business before leaving in 2003, said the Swiss bank’s senior management ignored his suggestion early last year that they spin off or sell the unit. Grano, now chief executive officer of advisory firm Centurion Holdings LLC, said he sent letters to former UBS Chairman Marcel Ospel and former CEO Marcel Rohner urging them to make Paine Webber independent again, perhaps selling a stake to investors or employees. He said he never heard back from either executive.

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Cowdery’s Resolution, Snubbed by Friends Provident, May Find Deals Harder

July 28, 2009

By Kevin Crowley July 28 (Bloomberg) — Clive Cowdery may find his second attempt at consolidating the U.K. life-insurance industry harder after Friends Provident Plc rejected his second takeover bid, the smallest of “three or four” acquisitions he is planning. Friends Provident yesterday ended all discussions with Cowdery’s Resolution Ltd.

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High-Frequency Traders Say Speed Is to Everyone’s Advantage on Wall Street

July 28, 2009

By Edgar Ortega, Jeff Kearns and Eric Martin July 28 (Bloomberg) — Frank Troise , the head of electronic equity trading products at Barclays Plc, says using computers to execute orders in milliseconds is no different than brokers jockeying for position years ago on the floor of the New York Stock Exchange.

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Defense Chief Gates Visits Iraq as U.S. Changes Role to Advising, Training

July 28, 2009

By Viola Gienger July 28 (Bloomberg) — U.S.

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Lithuanian Economy Shrank 22.4% in Second Quarter, EU’s Worst Contraction

July 28, 2009

By Milda Seputyte July 28 (Bloomberg) — Lithuania’s economy plunged a preliminary 22.4 percent in the second quarter, the worst recession since 1990 independence, as output crashed and retail sales slumped. The decline, the deepest in the European Union, compares with a revised 13.3 percent contraction in the first quarter, the Vilnius-based statistics office said in an e-mailed statement today

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Indonesian Government to Unveil More Investment Initiatives, Boediono Says

July 28, 2009

By Shamim Adam July 28 (Bloomberg) — Indonesia will announce initiatives to spur investment, improve infrastructure and enhance social safety nets within the first 100 days of the next administration taking office, Vice President designate Boediono said. The changes will help the government achieve its target of economic growth reaching an average 7 percent in the next five years, Boediono said in Singapore today, without giving details of the plan. Growth this year will be about 4 percent, before accelerating to over 5 percent in 2010, he added.

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Indonesian Government to Unveil More Investment Initiatives, Boediono Says

July 28, 2009

By Shamim Adam July 28 (Bloomberg) — Indonesia will announce initiatives to spur investment, improve infrastructure and enhance social safety nets within the first 100 days of the next administration taking office, Vice President designate Boediono said. The changes will help the government achieve its target of economic growth reaching an average 7 percent in the next five years, Boediono said in Singapore today, without giving details of the plan. Growth this year will be about 4 percent, before accelerating to over 5 percent in 2010, he added. Indonesia skirted the recession that befell its Asian neighbors and its policy makers are joining others in the region in saying their economies are past the worst of the global slowdown

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BP Profit Drops 53% as Company Sees Little Evidence of Recovery in Demand

July 28, 2009

By Eduard Gismatullin July 28 (Bloomberg) — BP Plc said there is “little evidence” of a recovery in demand after Europe’s second-biggest oil company posted a 53 percent slump in profit on lower energy prices and demand for fuel. Second-quarter net income fell to $4.39 billion, or 23.16 cents a share, from $9.36 billion, or 49.23 cents, in the year- earlier period, London-based BP said today in a statement. Excluding one-time items and inventory changes, earnings beat analyst estimates. Almost two years into a turnaround led by Chief Executive Officer Tony Hayward , BP said estimated cost cuts would exceed an earlier target as it increased production to more than 4 million barrels a day.

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Northern Rock Shareholders Lose Appeal for Compensation Over Stock Slump

July 28, 2009

By James Lumley July 28 (Bloomberg) — Northern Rock Plc shareholders lost a court bid to force the British government to compensate them for stock they claim was rendered worthless when the U.K.

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Dollar Falls on Signs Slump Easing; MSCI World Index Advances for 12th Day

July 28, 2009

By Justin Carrigan July 28 (Bloomberg) — The dollar fell and stocks advanced for a 12th day as investors bought higher-yielding assets on speculation improved earnings signal the recession is easing.

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Deutsche Bank Profit Rises 68%; Shares Drop as Loan-Loss Provisions Surge

July 28, 2009

By Aaron Kirchfeld and Jann Bettinga July 28 (Bloomberg) — Deutsche Bank AG , Germany’s biggest bank, said second-quarter profit rose 68 percent as increased revenue from trading bonds and stocks offset a surge in loan- loss provisions. Net income rose to 1.09 billion euros ($1.55 billion), or 1.64 euros a share, from 649 million euros, or 1.27 euros, a year earlier, the Frankfurt-based bank said in a statement today. Earnings exceeded the 944 million-euro median estimate of 13 analysts surveyed by Bloomberg

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Deutsche Bank Profit Rises 68%; Shares Drop as Loan-Loss Provisions Surge

July 28, 2009

By Aaron Kirchfeld and Jann Bettinga July 28 (Bloomberg) — Deutsche Bank AG , Germany’s biggest bank, said second-quarter profit rose 68 percent as increased revenue from trading bonds and stocks offset a surge in loan- loss provisions. Net income rose to 1.09 billion euros ($1.55 billion), or 1.64 euros a share, from 649 million euros, or 1.27 euros, a year earlier, the Frankfurt-based bank said in a statement today. Earnings exceeded the 944 million-euro median estimate of 13 analysts surveyed by Bloomberg

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Kaiser Permanente Leases 210,000 SF in Capitol Hill Area

July 28, 2009

Kaiser Permanente, the non-profit health care provider, signed a 15-year lease for about 210,000 square feet in the new Station Place office building at 700 2nd St. NE in Washington, DC.

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FBI Field Office Coming to Charlotte

July 27, 2009

A joint venture of Highwoods Properties and USAA Real Estate Co. is building a $45 million field office for the Federal Bureau of Investigation (FBI)

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