Tesco extends euro ATM scheme

Tesco Personal Finance has extended its service which allows customers to pick up their summer holiday euros as they shop.

Having rolled out a successful six-month trial of four euro ATMs, the group has decided to roll the service out in some 20 locations.

These will include Gatwick, Finchley and Dover, while a further five will also be opened at stores in Northern Ireland over the next few weeks.

Stewart Gow, head of ATMs at Tesco, said that customers could "pick up their euros at a competitive exchange rate at no charge whilst they do their weekly shop which is convenient".

Explaining that the group wanted to make travel money "accessible", Mr Gow also said that the ATM service provides an "easy way for customers to get their holiday money".

He said that the trial run had proved to be very popular and said that the group wanted to "improve our customers' experience every time they deal with us".
(Source MoneyNews)

Dollar-euro? It's the yen, stupid

The dollar slid to a one-month low of ¥120.96 yen on Wednesday, raising concerns that a strengthening of the Japanese currency could put billions of dollars worth of low-cost yen loans in peril.

The yen rallied a sharp 2 percent over two sessions early this week - its most notable strength since it rallied about 4.5 percent over two weeks starting in late February, according to Ashraf Laidi, chief analyst at CMC Markets in New York.

Since then, the currency has given back some gains against the dollar, which was trading at ¥122.05 in New York Friday. And for the year, the dollar is still up about 3 percent against the yen.

But this week's jump in the yen still rattled Laidi and other currency traders and analysts.

For years, investors have been borrowing at Japan's super-low interest rates and selling yen to buy investments in higher-yielding currencies - a trading bet known on Wall Street as the "yen carry trade."

A big, sustained rebound in the yen could jeopardize those trades, Laidi said. "The yen is a funding currency. When it rallies, it makes the repayment of those yen loans more expensive, even though interest rates are low," he said.

Traders attributed the yen's jump against the dollar this week to problems in the subprime mortgage market in the United States, which caused some investors to seek safer places for their assets - and exit the yen carry trade.

"The carry trade took a bit of a knock earlier in the week when U.S. credit markets were going a bit crazy and equities were tumbling," said Richard Franulovich, a senior currency strategist at Westpac Banking in New York.

That effect was short-lived as stocks stabilized and bullish investors sent the Dow industrials and S&P 500 to new highs Thursday.

Of course, it isn't just U.S. conditions that influence the yen's movement against the dollar. Stronger economic growth in Japan could also lend more support to the yen in the longer-term.

Japan's gross domestic product, the broadest measure of a nation's economic activity, grew at a 3.3 percent annual rate in the first quarter, bolstering expectations for higher interest rates ahead. Higher rates would tend to make Japan more attractive to investors, bolstering the yen.

Japan hiked rates from near zero about a year ago but it's been easygoing since then. Rates currently stand at 0.5 percent, although the Bank of Japan is widely expected to raise them again next month. In comparison, the Federal Reserve is expected to keep holding rates steady, as it has for the last year, for some time.

With growth picking up and rates heading higher, Japanese retail investors could start to feel more confident about the economy and divert their savings from overseas investments to domestic stocks, analysts said.

That could boost the yen and remove support for the carry trade, since it isn't just hedge funds borrowing yen and using the proceeds from yen sales to invest overseas, but also everyday Japanese investing their money in foreign bonds and other assets.

The great concern is that if everyone tries to unwind the carry trade quickly that could slow a tide of money that's helped drive a record boom in private equity buyouts and push stocks higher worldwide.

But such an unwinding - if it happens - wouldn't necessarily trigger hard and fast movements in the markets, some say.

"I think it is difficult to make strong statements about what is happening with regards to the carry trade," Paul Donovan, chief global economist at UBS in London, said. "To the extent that 'carry trades' involve retail investors, this is not an agile trade that turns in a course of a week."

So even though the dollar is at an all-time low against the euro, its movement against the yen may be what bears closer watching.
(Source CNN Money)

Can Oracle's Database 11g Deliver?

Given Oracle's penchant for juicy headlines the past year -- an espionage suit against one rival, a strategic sucker punch against another, and $5 billion spent on a dozen acquisitions -- it's easy to forget what the world's second-biggest software company actually does for a living.

Get ready for a reminder. At an event in Manhattan on July 11, Oracle (ORCL) co-President Charles Phillips and other company executives christened the first new version of the company's $10 billion-a-year database software since 2004.

"Lockbox" Security

The market has changed considerably since Oracle introduced version 10g. Databases are ballooning in size as companies process more transactions and analyze more information. "What was considered a big database three years ago is now considered a pipsqueak," says Andrew Mendelsohn, Oracle's senior vice-president for database development. Customers are increasingly storing new types of information like e-mail messages, maps, and videos as they comply with federal regulations and make use of new media. At the same time, they're trying to cut back on labor costs for information technology.

Oracle has developed features for 11g to address those trends. The new software is designed for easier installation, addressing pressures on IT departments to quickly change systems to support new products or manage mergers and acquisitions. "That's the No. 1 thing we're going to deal with in this release," Mendelsohn says. Also built into 11g is new data-compression technology to let companies stuff more information into supersized databases while spending less on disk space.

And 11g can cordon off information so it's only changeable by a CFO or auditor. "If you're concerned about security and compliance, then it's definitely a must-have," says Ari Kaplan, president of the Independent Oracle Users Group, which includes 20,000 members. Kaplan is also a senior consultant at Datalink (DTLK), which designs systems that use Oracle software. "Everything that happens in the database is put in a lockbox."

Bigger Stock Boost?

It's a product Oracle is counting on to keep its sales and stock price on the rise. Sales of databases and related middleware have been growing more than 15% a quarter, accounting for two-thirds of Oracle's $14.2 billion in software revenue for its fiscal year ended May 31. Some Wall Street analysts expect the new database system, Oracle 11g, to help fuel a 20% gain in stock price over the next year. That's on top of a 16% gain the shares have logged since the start of 2007.

In a positive sign, the 18% growth in sales of new database and middleware licenses that Oracle posted in its latest quarter offers "a strong indication" that corporate software spending isn't slowing down, according to a late June report by Brent Thill, Citigroup's (C) software research director [see BusinessWeek.com, 6/27/07, "Oracle's Mixed Message"]. Now, "many investors are questioning if Oracle can deliver an encore," he said, raising his target for Oracle shares to $24 over the next 12 months; the shares closed July 11, up 26 cents, at $19.98.

High Margins

Credit Suisse (CS) software analyst Jason Maynard also predicts Oracle's shares can touch $24 within a year, arguing in a June 26 research note that the company can improve on its impressive 46% operating margins. Morgan Stanley (MS) research analyst Peter Kuper says Oracle's database business, especially the lucrative technical support fees it collects from customers, have helped the company achieve some of the highest margins in the software business. "They're hitting levels few companies ever get to," he says.

In its just-ended fiscal year, Oracle booked $9.5 billion in database and middleware revenue. It also generated $4.7 billion in revenue from applications software, the result of a two-and-a-half year buyout binge of PeopleSoft, Siebel Systems, and about 30 other companies. The pitch to investors along the way has been this: As Oracle adds applications that manage human resources, sales, manufacturing, and other operations, sales of that software pull along more installations of its flagship database, which underpins those programs.

Partly as a result, Oracle keeps adding market share. The company controlled more than 47% of the $15.2 billion database market in 2006, according to market research company Gartner (IT). That's way ahead of IBM's (IBM) roughly 21% share and Microsoft's (MSFT) 17.4%. Oracle's Mendelsohn says the company's dominant position on computers that run the open-source Linux operating system has helped the market share gains. Oracle also has been investing in expanding its business through U.S. computer resellers to reach more small and midsized companies. At the other end of the scale, Oracle recently inked large database deals with China Mobile (CHL), FedEx (FDX), and Daewoo Securities.

The Action in Middleware

But there are challenges. Microsoft's SQL Server database is capturing a bigger slice of the market -- its share grew by 28% in 2006, compared with 15% growth for Oracle, Gartner says -- as more companies use the Windows operating system and other Microsoft products for key computing tasks. Meanwhile, IBM has made efforts to scale down its DB2 database to appeal to customers with more modest needs. And cheap, open-source databases from MySQL and other companies have risen in popularity [see BusinessWeek.com, 6/26/07, "The Worth of Open Source? Open Question"].

Oracle is trying hard to complement its database business by acquiring and developing more middleware, the software that binds other programs together. Oracle reports database and middleware sales together. "The middleware business is getting to the size where it's really moving the needle now," CEO Larry Ellison said during Oracle's last conference call with analysts.

It was a rare stick-to-your-knitting performance by Ellison. For much of the past year, he's been more apt to spend time deprecating SAP, filing a lurid espionage suit against that German rival [see BusinessWeek.com, 7/4/07, "SAP's TomorrowNow Troubles"], and undercutting Red Hat's (RHT) Linux business by selling support for the open-source operating system at a fraction of the price. For investors, a renewed emphasis on the basics could make for an even better growth story.

(Source MSN Money)

The best 500 companies in first quarter 2007

Rank	Company	Global 500 revenues rank	2006 Profits ($ millions)	Profits % change from 2005
1	Exxon Mobil	2	39,500.0	9.3
2	Royal Dutch Shell	3	25,442.0	0.5
3	UAL*	366	22,876.0	N.A.
4	BP	4	22,000.0	-1.5
5	Citigroup	14	21,538.0	-12.4
6	Bank of America Corp.	21	21,133.0	28.4
7	General Electric	11	20,829.0	27.4
8	Gazprom	52	20,321.3	36.7
9	Pfizer	115	19,337.0	139.2
10	Chevron	7	17,138.0	21.6
11	HSBC Holdings	22	15,789.0	4.7
12	ConocoPhillips	9	15,550.0	14.9
13	Total	10	14,764.7	-3.2
14	J.P. Morgan Chase & Co.	31	14,444.0	70.3
15	Toyota Motor	6	14,055.8	16.0
16	American International Group	23	14,048.0	34.1
17	China National Petroleum	24	13,265.3	2.4
18	Petronas	121	12,862.8	11.2
19	Petrobras	65	12,826.0	24.0
20	Microsoft	139	12,599.0	2.8
21	Altria Group	71	12,022.0	15.2
22	Royal Bank of Scotland	54	11,762.2	17.6
23	ENI	26	11,564.1	5.9
24	Wal-Mart Stores	1	11,284.0	0.5
25	Johnson & Johnson	112	11,053.0	6.2
26	Berkshire Hathaway	33	11,015.0	29.2
27	BHP Billiton	205	10,450.0	63.3
28	GlaxoSmithKline	147	9,915.0	13.3
29	UBS	27	9,776.6	-13.2
30	ING Group	13	9,650.8	7.7
31	Goldman Sachs Group	72	9,537.0	69.5
32	Santander Central Hispano Group	75	9,530.3	23.3
33	International Business Machines	42	9,492.0	19.6
34	BNP Paribas	25	9,169.0	26.1
35	Credit Suisse	47	9,034.8	92.5
36	Crédit Agricole	18	8,975.8	20.7
37	Allianz	19	8,808.9	61.9
38	Procter & Gamble	74	8,684.0	19.7
39	Wells Fargo	126	8,482.0	10.6
40	Barclays	83	8,410.0	34.2
41	Samsung Electronics	46	8,301.9	11.3
42	Telefónica	77	7,820.2	41.6
43	Wachovia Corp.	131	7,791.0	17.3
44	Mitsubishi UFJ Financial Group	118	7,532.2	10.6
45	Deutsche Bank	35	7,510.3	71.3
46	Merrill Lynch	70	7,499.0	46.6
47	Lukoil	110	7,484.0	16.2
48	Morgan Stanley	61	7,472.0	51.3
49	Rio Tinto Group	313	7,438.0	42.6
50	AT&T	86	7,356.0	53.7

(Source CNN Money)

J&J, ConocoPhillips plan stock buybacks worth $25B

Johnson & Johnson (JNJ) and ConocoPhillips (COP) announced on Monday plans to repurchase a combined $25 billion of stock, adding to this year's record pace of U.S. share buybacks.

J&J, the world's largest maker of health care products, will use a combination of cash and debt to fund a $10 billion repurchase program, the company's largest. ConocoPhillips, the third-biggest U.S. oil producer, plans to buy back as much as $15 billion of its shares through 2008.

The buyback announcements follow record repurchase programs initiated this year by Home Depot (HD) and IBM. (IBM)

U.S. companies have announced $415 billion of share buybacks in 2007, 24% ahead of last year's record pace, according to Birinyi Associates data as of June 29.

"Corporations are flush with cash to the extent they feel they can grow their businesses and still have money left over to return to shareholders," said James Awad, who oversees about $1.3 billion as chairman of Awad Asset Management in New York. "One of the legs of this bull market has been that the supply of common stocks has been shrinking."

The Standard & Poor's 500 index needs to rise 0.5% to break its June 4 record, while the Dow Jones industrial average is 0.2% away from its all-time high. In the first quarter, S&P 500 companies spent $118 billion on buybacks, the most for a quarter, according to S&P.

J&J said it will use its AAA credit rating to finance an unspecified portion of the repurchases, which have no time limit.

The stock gained 59 cents, or 1%, to close at $62.72 Monday in New York Stock Exchange composite trading. The shares have gained 2.9% in the past year, underperforming the 16% increase in the 54-member S&P 500 Health Care index.

ConocoPhillips will spend $2 billion to $3 billion repurchasing stock in the third quarter, and a similar amount in the fourth, it said.

ConocoPhillips shares gained $3.01, or 3.7%, to a record $84.05. The stock is the second-worst performer in the seven-member S&P 500 Integrated Oil and Gas index this year after ExxonMobil, the world's largest oil company.

Home Depot last month said it may buy back a record $22.5 billion of its stock, using proceeds from the sale of its contractor-supplies unit, existing cash and $12 billion of bonds. The shares have climbed 5.1% since the announcement. They fell 0.2% to $40.23 Monday.

IBM in April added $15 billion to its stock-buyback program, the most ever. The company said it would take on debt to finance much of the buyback. The shares have gained 14% since the announcement. They fell 0.1% to $108.97 Monday.
(Source USA Today)

Apple Issues Battery Program for IPhone

A consumer advocacy group has expressed outrage over Apple Inc.'s battery replacement program for the iPhone, while developers and hackers are trying to figure out ways they could expand the capabilities of the hot new gadget.

The hybrid cell phone, iPod media player and wireless Web-browsing device launched to much fanfare on June 29. On the same day, the Foundation for Consumer and Taxpayer Rights fired off a letter to Apple and AT&T Inc., the cell phone's exclusive carrier, complaining that customers were being left in the dark about the procedure and cost of replacing the gadget's battery.

The iPhone's battery is apparently soldered on inside the device and cannot be swapped out by the owner like most other cell phones.

Apple spokeswoman Jennifer Hakes said Thursday the company posted the battery replacement details on its Web site last Friday after the product went on sale.

Users would have to submit their iPhone to Apple for battery service. The service will cost users $79, plus $6.95 for shipping, and will take three business days.

The procedure is similar to the one it has for the company's best-selling iPod players, but because some users will not want to live without their cell phones, Apple is also offering a loaner iPhone for $29 while the gadget is under repair.

Harvey Rosenfield, founder of the Santa Monica, Calif.-based consumer watchdog group that wrote the letter last week, contends the iPhone's battery and repair costs should have been clearly disclosed earlier. The company outlined its cellular service rates and many other features of the iPhone in advance of its launch, which drew snaking lines around stores across the country.

"Some of them might be waking up now," Rosenfield said, "wondering who they got in bed with."

Apple did not have an immediate comment on the consumer group's concerns.

Rosenfield said he didn't detect the battery information, which is located under several layers of links on Apple's support page on its Web site, until earlier this week. Technology blogs also started reporting their discoveries of it this week while one of the questions Wall Street Journal tech columnist Walt Mossberg fielded Thursday from his readers was about what happens when the iPhone battery dies.

"The cell phone industry is notorious for not being consumer-friendly while Apple has a fairly good reputation, so for Apple to stand on a technicality of a hidden disclosure that's going to cost the user as much as 20 percent of the purchase price I think will prove to be a colossal mistake," Rosenfield said.

The iPhone costs $499 or $599, depending on the model, and requires a minimum two-year $60-a-month service plan with AT&T.

The consumer and taxpayer organization has gone to court over these kinds of issues in the past. It is embroiled in a pending lawsuit against Cingular, now part of AT&T, over its service termination fees, and is also one of the plaintiffs in a pending lawsuit against Apple over an early model iPod Nano that was allegedly defective because it scratched easily.

In addition, Rosenfield said, replacing the iPhone battery should be free to begin with while the product is under its one-year warranty.

He also questioned why Apple chose to go against the norm of what cell phone users are accustomed to -- swapping out their own batteries and generally at a cost that is less than half of what Apple is charging now for the iPhone.

"I'm just surprised at Apple's decision to defy the common practice of allowing people to purchase replacement batteries," he said. "And the fact that the information is buried is just not appropriate."

Apple has not disclosed how many iPhones were available at launch, though analysts have speculated the amount was 500,000 or more. AT&T said the gadget had sold out at most of its stores on the night of the launch while many Apple stores ran out of stock by early this week. Those ordering the iPhone online through Apple's Web site on Thursday were being promised delivery would be in two to four weeks.

Meanwhile, software developers anxious to find ways they could introduce applications tailored for the iPhone's Web browser were preparing to get together in Silicon Valley this weekend at an ad hoc conference called iPhoneDevCamp.

Also, a tech-savvy audience cheered the latest work this week of a hacker known for cracking copy-protection technology and creating workarounds of Apple products. Jon Lech Johansen, also known as "DVD Jon," posted on his blog Tuesday a method for people to turn on the iPod and Wi-Fi features -- but not the cell phone functions -- of the iPhone without going through the required activation process and service fees of AT&T.
(Source MSN Money)

Microsoft extends Xbox 360 warranty

Under a new warranty, Microsoft will pay for shipping and repairs for three years, worldwide, for consoles afflicted with what gamers call "the red ring of death."

Microsoft(MSFT) on Thursday extended the warranty on its Xbox 360 video game console and said it will take a charge of more than $1 billion to pay for "anticipated costs."

Under the new warranty, Microsoft will pay for shipping and repairs for three years, worldwide, for consoles afflicted with what gamers call "the red ring of death." Previously, the warranty expired after a year for U.S. customers and two years for Europeans.

Microsoft said it should take two to four weeks to repair damaged consoles.

The charge will be $1.05 billion to $1.15 billion for the quarter ended June 30. Microsoft reports its fourth-quarter results July 19.

The announcements come amid customer complaints and speculation among bloggers that Microsoft was running out of "coffins," special return-shipping boxes Microsoft provides to gamers with dead consoles.
FIND MORE STORIES IN: Thursday | Microsoft | Xbox | Bach | Robbie Bach

Microsoft acknowledged "an unacceptable number of repairs." It said it had investigated the sources of hardware failures indicated by three red flashing lights. The software giant has made manufacturing and production changes to reduce the hardware failures, says Robbie Bach, president of the entertainment and devices division.

"There isn't one certain problem; it's a combination of a number of different factors," Bach said in an interview.

Bach declined to say what Microsoft fixed, nor would he say how many gamers sent in machines for repair. The percentage is "a meaningful number, and it has our attention," he said.

Microsoft shipped 11.6 million Xboxes through June, compared with a target of about 12 million, CFO Chris Liddell said in a conference call Thursday.

"The majority of Xbox 360 owners are having a great experience with their console and have from Day One," Bach added.

Analysts said the scope of the problem, plus nagging concerns about the reliability of the Xbox 360 — introduced to much fanfare in November 2005 — forced Microsoft to take drastic actions.

"Microsoft is finally acknowledging that there's a serious problem and doing what it has to do to keep existing customers happy and buying games," says Matt Rosoff, an analyst at Directions on Microsoft.

But the charge and change in warranty could hinder sales as Microsoft dukes it out with Sony(SNE) and Nintendo in the $12.5 billion console market, he says.

Microsoft's entertainment and devices division, which makes the Xbox 360 and the Zune digital music player, reported an operating loss of $315 million on $929 million in sales in the third quarter this year.

Microsoft made its announcements after markets closed. Its stock fell 11 cents to $29.88 in after-hours trading.

(Source USA Today)

The remarkable story of Boeing's 787

The Dreamliner, the fastest-selling commercial plane in history, rolls out this weekend.

The Boeing 787 Dreamliner is aptly named. When it lifts off the runway at Seattle's Boeing Field for its first test flight this summer, it will carry the dreams of more than 900 small subcontractors that helped create it. With 584 copies on order as of June, it's the fastest-selling new plane in the history of commercial aviation and will keep Boeing and its suppliers busy for a decade or longer.
For some subcontractors, catching a ride on the 787, scheduled for rollout this weekend, will be their big break. Missing the flight has already put one would-be contractor in peril: Thermion Systems International (See "Iced out of a deal with Boeing?"), which thought it had a deal to supply de-icing equipment, says it was elbowed out of the program and is struggling to survive.
cruiser, is packed with technological firsts, including the pioneering use of composites in a commercial liner's airframe. Equally remarkable is the way in which Boeing has structured its manufacturing process, bestowing unprecedented opportunities on small suppliers and ushering in a new era for the aerospace industry.
Boeing says 70% of the 787 has been outsourced; rival Airbus is relying on subcontractors for about 50% of its A350 plane, now in development. "This farming-out of the airplane's construction is revolutionary," says Richard Aboulafia, vice president at Teal Group, an aerospace consulting firm (tealgroup.com).
For decades, Boeing has outsourced a portion of the work on its planes, and its reliance on sub-contractors has risen with each succeeding generation of aircraft. But with the Dreamliner program, the aerospace giant has reached a point where its role has changed. It now functions less as a manufacturer than as a project manager, supervising its first- and second-tier subcontractors, each of which may rely on scores of more specialized subcontractors. Boeing handles final assembly, marrying the cockpit, fuselage, wings, and tail sections, which are completed elsewhere and delivered to its plant. "Boeing's objective is to get these 'supplier partners' to do as much heavy lifting as possible," Aboulafia says. "That gives small businesses more responsibility."
Boeing says it can't supply a full list of subcontractors that are working on the project, but industry analysts estimate that their numbers are greater than the 900-plus that contributed to the 777, which began construction in 1990. Boeing spokesperson Loretta Gunter confirms that the processes used to construct the two planes are markedly different. "We have fewer first-tier subcontractors on the 787 than we did on the 777 because each is providing bigger components," she says. "Likewise, many of them are contracting out bigger jobs to their subs."
Boeing's new manufacturing template has captured the imagination of the aerospace industry. Recently officials from Airbus told analysts that the company will up its outsourcing to become more competitive. "For any company that wants to be successful in aerospace manufacturing, Boeing's new strategy is the way forward," says Aboulafia. "Which is ultimately good news for small business."
It's already good for Kreisler Manufacturing in Elmwood Park, N.J. Kreisler started out as a jewelry manufacturer, but when things got tough in that business, management decided its metal-finishing skills could be transferred to the aerospace industry. To cut costs and get into the European stream of the global outsourcing system, it invested in a new 52-employee machine shop in Kraków, Poland. "Our presence in Poland made us competitive from a global standpoint," says Brad Barnes, 53, Kreisler's director of sales and marketing.
Kreisler became part of the Dream-liner program through Rolls-Royce, which was hired to develop engines for the plane. Rolls contracted with multinational conglomerate Parker-Hannifin to make the fuel and hydraulic-flow systems. Parker-Hannifin hired Western Filter Group, a company based in Valencia, Calif., to supply the filtration equipment for the 787's hydraulic system, and it gave the order for fuel-manifold and associated tubing for the engines to Kreisler. As part of that agreement, Kreisler received certification from Rolls-Royce for various types of welding work. Having demonstrated its expertise on the 787, Kreisler is prepared to take on more projects for Rolls-Royce, which would become the company's first European customer.
Not only is Boeing pushing responsibility out to more subs, it is also demanding more from them. Many have created new systems and products, rather than simply filling orders to Boeing specs.
Green Hills Software of Santa Barbara, for example, won the assignment to write the operating system for the on-board flight-control computers. That's the kind of critically important work usually reserved for tier-one contractors. Green Hills was hired by tier-one contractor Honeywell, which specified Green Hills as part of its work for Boeing on the flight-control system. "Honeywell doesn't specialize in operating systems," says Dave Chandler, senior vice president of sales for Green Hills. "It's easier for us to handle because that's the only thing we do."
American Panel, based in Alpharetta, Ga., is another small company entrusted with critical technology and another small player whose product was identified specifically by a larger contractor when dealing with Boeing. It supplies LCD displays that go into instrumentation systems built by Astronautics Corp. of America. "Being able to create a display that's readable in bright sunlight is a very narrow niche," explains Jim Niemczyk, vice president of business development for American Panel. He's convinced that riding in the 787 is just the start: "Once our screen is on the latest, greatest plane, Boeing is going to want to retrofit it on all of them," he says.
(source money.cnn.com)

The Art of making Money

For those interested in the art of making money i have created this blog to join up news of the biggest mergers and transactions in the world. I will post information about the biggest players and the finest products which sum up the biggest turn-overs.