Tencent Holdings, today announced the acquisition notice issued portal Sanook 49.92% stake in Thailand.

Sanook Thai version of the name Sanook QQ, Tencent one of the shareholders by the South African Millard International Holdings (MIH) launched its Thai subsidiary of Sanook and maintenance, the main report entertainment news.

source:tradershuddle.com
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) closed the trading session at $21.26 below calculated support at $22.11 breaking the stock technically, raising concerns by investors, as the move might trigger more selling.

Cisco's stock was trading in a well defined range with support at $22.11 and resistance at $23.94; given that this range was broken traders will be closely monitoring the stock?s price action for clues of direction.

From a technical perspective it can be expected that previous support becomes resistance, as the new range gets defined, however, given that Cisco's stock is still near the broken support, traders will be focusing on $22.11 to see if the stock can bounce back and return to its previous range.

ource:nytimes.com
It seems like Wall Street at its worst: a cowboy on the trading floor plots to corner a market, and gets caught.

Only in this case, the brash trader did not work for a high-flying investment house — he worked for BP, whose reputation for taking risks in the oil fields is matched only by its daring in the energy markets, traders and industry experts say, Nelson D. Schwartz reports in The New York Times.

The trader’s attempt to corner the propane market resulted in the largest fine for market manipulation in the history of the Commodity Futures Trading Commission, a federal regulator, in 2007.

BP, however, remained committed to the aggressive trading that brought in billions annually — as much as a fifth of the company’s total profits — according to interviews with experts, government officials and other traders.

Now, with BP facing billions in liability claims from the Deepwater Horizon disaster, the trading unit’s prospects are uncertain, and the resources the unit once took for granted are threatened.

David Shepardson / Detroit News Washington Bureau
From The Detroit News
Washington -- Ford Motor Co. and three other industrial companies won the right to continue to hedge financial risks, as part of a compromise reached Friday on the federal financial overhaul bill.

One last sticking point was whether Ford, Caterpillar, John Deere and Boeing would be able to use financial instruments known as derivatives to hedge risks.

U.S. Rep. Gary Peters, D-Bloomfield Township, lobbied his Senate colleagues to get them to accept his language that would allow firms that have a captive finance company -- Ford owns Ford Motor Credit -- to continue to use the financial instruments.

"They aren't speculating," Peters said Friday in an interview. "They are not part of the casino-type atmosphere that we saw on Wall Street. What they are doing is legitimately hedging business risk. They don't try to make profits on crazy derivative synthetic strategies."

Derivatives are financial instruments whose values are determined by the future price of a commodity or other financial entity.

By Sarah Jones
source:businessweek.com
European stocks posted their first weekly drop in more than a month, after disappointing U.S. housing data and a surge in the cost to protect from a Greek default reignited concern about the global economic recovery.

BP Plc led energy companies lower, tumbling 15 percent to a 14-year low. Piraeus Bank SA and Alpha Bank AE paced a retreat by bank stocks, both dropping 10 percent in Athens. BHP Billiton Ltd. and Rio Tinto Group lost more than 3 percent after the appointment of a new Australian Prime Minister failed to allay concerns about the government’s proposed mining tax.

The Stoxx Europe 600 Index dropped 2.8 percent to 248.33, snapping four straight weeks of gains, as all 19 industry groups fell. The gauge has fallen 8.8 percent from this year’s high on April 15 amid concern about the impact of Europe’s debt crisis.

“It is possible that the market situation will worsen as the sovereign debt crisis spreads to other asset classes,” said Franck Dixmier, chief investment officer for Allianz Global Investors Investments Europe, which oversees about 110 billion euros ($136 billion). “In our view, there is every justification for the maintenance of high risk premiums in all asset classes at least until the end of the year.”

By Sharon Waxman
source:thewrap.com
The Weinstein Company got a new lease on life on Wednesday after a full restructuring agreement that leaves the independent film company free of its $450 million and with a new operating facility.

But the company had to give up 200 of its 350 films to do so.

A federal court in Wisconsin on Wednesday approved a deal in which the insurance company Ambac would pay $115 million of Weinstein’s debt to Goldman Sachs and Assured Guaranty.

The remainder of the debt is being exchanged for 200 TWC movies including the $233 million in accounts receivable on the films.

“Rodj Cohen has architected the perfect deal – four companies perfectly aligned, in a deal that recoups incredible value for The Weinstein Company, and gives us the wherewithal to continue,” said TWC Chairman Harvey Weinstein, in an interview with TheWrap.

Source:dailymarkets.com
GE Energy Financial Services, a unit of diversified conglomerate General Electric Co. (GE), said Monday that the company and Spain-based renewable energy company Abengoa SA will invest US$180 million to develop the largest cogeneration power plant in Mexico.

Cogeneration is the simultaneous production of electricity and heat using a single fuel source such as natural gas, harnessing heat that would otherwise be wasted. This can result in higher thermal efficiency or higher heat values, while carbon dioxide emissions can be substantially reduced.

The 300-megawatt gas-fired facility, with a total project cost of US$640 million, will be located at the Nuevo Pemex gas processing complex, near Villahermosa, Tabasco. The Nuevo Pemex complex is owned by Pemex Gas y Petroqu?mica B?sica, a subsidiary of Mexico’s state-owned oil company Pemex. Nuevo Pemex processes gas from on- and off-shore Mexican gas fields.

source:bnet.com
We retail-watchers put too much stock in quarterly comparable-store sales figures, says investment firm Consensus Advisors. (Guilty!) So the firm does an annual Retailer Health Rating that looks at more financial measures and a bigger timeframe. Their analysis: Amazon.com (AMZN) tops the heap, followed by apparel chain Aeropostale (ARO). Down around 5th place: Walmart (WMT).

The study aims to detect manipulated sales jumps — due to a big ad push, say, or too much price-cutting — to discover which chains are truly financially healthy and best-positioned for future growth. It tracks four measures over a five-year period, so startup chains need not apply. The firm’s yardsticks are healthy sales growth (with little cannibalization or margin erosion), how well the company leverages its assets, pricing power (as in resisting price erosion), and the strength of the balance sheet.

by Timothy B. Hurst
source:earthandindustry.com
Is Walmart internally conflicted over renewable energy?

Some renewable energy advocates say Walmarts' challenge to the contract raises questions about the retailer’s commitment to clean energy.

Dan Bakal, director of electric power programs for the green investment coalition Ceres in Boston, told the Boston Globe that it is typical for large companies to express concern about electricity rates. Wal-Mart’s filing was surprising because of the company’s previous high-profile focus on environmental issues.

Source:informationweek.com
Money talks and, we are learning painfully, money also walks—particularly away from environments that are increasingly hostile to the businesses based there. And so it is that Cisco CEO John Chambers deserves a lot of credit for trying to warn U.S. lawmakers that the hostile business environment they've created here will continue to force other corporate leaders to invest where they'll get the best return—and that will most assuredly not be in the U.S. of A.

Cash-rich Cisco Systems is sequestering $40 billion of its cash outside of the U.S. and away from our brutally high tax rates to use for investments and acquisitions and hiring, while keeping only one-fifth that amount—$8 billion—inside the U.S. for acquisitions and stock buy-backs. And the trend will only get worse as Cisco generated $3 billion more in cash during its most-recent quarter—and understandably wants to invest that treasure as wisely as it can.

source:networkcomputing.com
Cisco Systems has announced Cisco Quad, an enterprise collaboration platform that combines video, voice, e-mail and social networking technology. Quad is one of a trio of announcements from the network equipment vendor intended to give Cisco a greater presence in front of the computer rather than just behind the screens.

Later this year, Cisco will offer WebEx Connect IM version 6.5, its video conferencing system now available through any browser-based instant messaging client. WebEx Connect IM eliminates the need to install a separate client application on the computer. Cisco also introduced enhancements to its Cisco Prosumer Video offering, aiming to improve consumer-based products like its Flip video camera for enterprise use.

Source:cnn.com
NEW YORK (CNN) -- General Electric is recalling 181,000 front-load washing machines due to a faulty wire that poses a fire and shock risk, the company announced Thursday.

The appliance maker said there have been seven incidents of minor smoke damage when flames escaped from the machines. No injuries have been reported.

The company, conducting the recall in conjunction with the U.S. Consumer Product Safety Commission, is asking consumers to immediately stop using the hazardous machine, unplug it from the electrical outlet and contact GE (GE, Fortune 500) for a free repair.

A report from Business Insider AOL has initiated a process that could lead to its sale to Microsoft. Despite the reasons given in the report - including Microsoft's desperation to gain ground against Google - speculation makes little sense.

AOL shares rose as much as 5.8 percent on the New York Stock Exchange. In afternoon trading they were up 46 cents, or 2.2 percent, at $21.46, as the tech-heavy Nasdaq slid more than 3 percent.

AOL shares jumped 1.3 percent amid a strong sell-off on rumors the company could be entertaining the idea of doing more than a search deal with Microsoft. AOL ended the session up 28 cents, to $21.28 -- while Microsoft fell almost 4 percent to $25.79.

Halliburton (NYSE:HAL), issued a statement that said, to heck with Obama and his six-month ban on deep-water drilling. Halliburton has no shortage of business. But the statement was enough to pump up HAL stock 12% in a day.

Facing possible jail time for their roles in the largest oil spill in American history, BP and Halliburton are building high-powered legal teams with “deep Department of Justice and White House ties.” But the companies are pursuing other means to defend themselves as well.

Halliburton’s campaign donations have spiked as it tries to curry favor with key members of Congress investigating the disaster. The company donated $17,000 in May, making it “the busiest donation month for Halliburton’s PAC since September 2008,” Politico reports. Thirteen of the 14 contributions from May went to Republicans, while seven went to members of Congress who are “on committees with oversight of the oil spill and its aftermath”

Source:thinkprogress.org

Walmart, no doubt wanting a share of the EVO sales has joined both Best Buy and Radio Shack in offering the EVO 4G for $199 even.HTC EVO 4G directly from a Sprint store supposed to pay $299.99, with $100 rebate check to come in the mail after few weeks.customers would usually prefer paying the net cost instead of paying more and then wait for a rebate check.

This highly- awaited phone has 8.0 mega-pixel camera on the back, and a 1.3 mega-pixel camera on the front for video chat, a 1 GHz Qualcomm snapdragon processor, and runs on Android 2.1. The HTC EVO 4G phone, would costs $199.99 after a $100 mail-in rebate and a 2-year contract with Sprint.

Walmart's international sales, at over $100 billion, accounted for about a quarter of the company's sales last year. But the company does not have a target for how much those sales will make up of the total going forward.

Level 3 Communications, Inc.today announced that it has expanded its operations in Boston. This initiative reflects the commitment of Level 3 to improve its presence in local markets throughout the country, with the aim of providing mid-market companies with an experience of world-class customer.

“Boston is a unique market and one that is a crucial part of our local strategy,” said Tracy DavisTracy Davis, Level 3’s general manager for New England.

The company plans to increase its network capacity in the region and expand the number of companies that are directly connected to the Level 3. The expansion will extend the mid-market companies with access to the full range of Level 3 service is free and can be quickly and easily increase the bandwidth according to business needs.

Elan Corp plc，a biotechnology company, reported on Thursday that it has agreed with Kelly Martin, its Chief Executive Officer, to change his employment contract from an open-ended agreement to a fixed term agreement.

Elan said in a statement that Mr. Martin would serve as CEO and board member until May 1, 2012, "with a provision to then serve the board as executive adviser through Jan. 31, 2013."

Elan's Chairman, Mr Kyran McLaughlin, said: "Elan's Board is committed to long term leadership succession planning as it is an important part of good governance policies. The amendments to Kelly's employment arrangements are a necessary and desirable part of this commitment. On behalf of Elan's Board, we recognise the significant contribution Kelly has made to the company since 2003 and look forward to the company benefitting from Kelly's continued leadership and direction in the coming years."

Citigroup Inc on Tuesday announced the closure of 330 branches of the U.S. company to finance the ongoing campaign of corporate restructuring, which would also lead to job losses in the separation of up to 600 people in 48 states.

At the height of the global financial crisis, Citigroup received $ US45 billion, or $ A53.22 billion government rescue packages of money and then the total increase of $ U.S. $ 20 million, or A23.65 million December last year to repay the federal government Dole is part of the problem of Asset Relief Program.

Last week, IBM announced that it plans to acquire AT & T subsidiary Sterling Commerce, a provider of business-to-business integration and cross-channel solutions for $ 1.4 billion.

"A subplot of this acquisition is a further expansion of IBM in the software supply chain," Gonzalez wrote. "IBM acquired in 2008 of new ILOG, a provider of network design supply chain and inventory and transportation optimization solutions.

Now add portfolio of Sterling Commerce warehouse management, transportation management and distribution of order management solutions. This will put IBM in direct competition with major partners such as SAP, Oracle, and some of the best sellers in its class. It will be interesting to see how IBM walks the tightrope, and how their current partners are liable. "

IBM has said it will continue to invest in the markets to help clients be more efficient, as the software that helps analyze and predict trends, or "cloud computing", which enables them to store and access information on shared servers. The company is also developing services to monitor roads, power grids and other infrastructure to enable them to function more efficiently.

Sirius XM Radio is a famous in Germany, announced today that it launched a free application Android. This is SIRIUS Satellite Radio XM is for all Android power. Take a premium account SIRIUS XM online. If you are not a big problem to download the application.

According to the company, SIRIUS XM's new application for smartphones with Android allows users to: listen to over 120 channels of SIRIUS XM top line on the fly; favorite top online SIRIUS XM channels to facilitate access through a function of "favorites" and view the current channel, plus what is playing on all other channels through the function 'Lookaround'.

If you have an Android smartphone then just go ahead and download.