Deals of the Hour

Trying to find out what's the deal with the world, tracking what's on sale and who's talking about it on Twitter. Update hourly.

Deals of the Hour / October 1, 2010, 6:40 am

Hybrids and electrics ooze innovation, but combustion engines give more bang for the buck

PARIS (AP) — Hybrids and electric cars may get top billing. But at the Paris Auto Show, conventional engines are showing they have plenty of mileage left. New gas and diesel models have carbon emissions very close to leading hybrids, and there's nothing ... (Source: Los Angeles Times 2010-10-01T11:30:07Z)

Treasury announces start of sale of $2.2 billion in trust preferred shares of Citigroup

WASHINGTON (AP) — The government said Wednesday it is starting to sell $2.2 billion in trust preferred shares that it holds in Citigroup , another move to recoup the costs incurred in the $700 billion financial bailout. The Treasury Department said the ... (Source: Los Angeles Times 2010-09-29T18:13:21Z)

Popular Inc. completes Evertec deal with Apollo

NEW YORK (AP) -- Bank holding company Popular Inc. said Thursday it completed the sale of a 51-percent stake in its Evertec processing business to Apollo Management LP for $570 million. Popular Inc. is based in San Juan, Puerto Rico, and is the parent of ... (Source: Yahoo Finance 2010-09-30T22:58:30Z)

Marchionne fends off industrial alliance, Alfa Romeo sale chatter

Paris -- Fiat CEO Sergio Marchionne is fending off rampant chatter about industrial alliances and brand sales at the Paris Auto Show. He said today he has no interest in selling Fiat's Alfa Romeo brand -- despite interest expressed by VW chairman Ferdinand ... (Source: Detroit News 2010-10-01T08:31:10Z)

Japan PM concerned over China's widening maritime activity as 3 Japanese freed return

TOKYO - Japan's prime minister expressed concern Friday over China's strengthening military power and expanding maritime activity in Asia, including waters near disputed islands where a ship collision ignited a bitter diplomatic feud. Prime Minister Naoto ... (Source: Minneapolis Star Tribune 2010-10-01T08:24:00Z)

US data supports modest third-quarter growth hopes

WASHINGTON (Reuters) - New U.S. claims for jobless aid fell last week, while manufacturing in the nation's Midwest region grew faster than expected in September, supporting the view that economic activity picked up a bit in the third quarter. Another ... (Source: FOXBusiness 2010-10-01T00:02:55Z)

Construction spending expected to post fourth consecutive monthly decline

WASHINGTON - Construction spending likely dropped for a fourth straight month in August, reflecting significant weakness in homebuilding. Economists surveyed by Thomson Reuters expect construction activity dropped 0.4 percent in August. The Commerce ... (Source: Minneapolis Star Tribune 2010-10-01T11:01:29Z)

China's SAIC noncommittal on stake in GM IPO

SHANGHAI— Chinese automaker and General Motors Co. partner SAIC said Monday it is paying close attention to GM's upcoming stock sale, but gave no hint over whether it plans to take a stake itself. GM executives in the U.S. and China likewise refused ... (Source: Boston Globe 2010-09-20T08:29:53Z)

Jobless Claims in U.S. Decreased More Than Estimated to 453,000 Last Week

Applications for U.S. unemployment benefits decreased last week, a sign companies are cutting back on firings even as economic growth slows. Initial jobless claims decreased by 16,000 to 453,000 in the week ended Sept. 25, lower than the median forecast of ... (Source: Bloomberg 2010-09-30T12:28:34Z)

Bin Laden releases new audio tape

Cairo - Al-Qaeda has released a new audio tape of Osama bin- Laden in which the leader of the terror network calls for the creation of a relief body to aid Muslims harmed in natural disasters and wars. In a copy of the message provided by the US-based SITE ... (Source: Cape Times 2010-10-01T13:24:39Z)

US Treasury announces start of sales of $2.2 billion in trust preferred shares of Citigroup

WASHINGTON (AP) - The U.S. government says it is starting to sell off $2.2 billion in trust preferred shares it holds in Citigroup, another move to recoup the costs incurred in the $700 billion financial bailout. The Treasury Department says it will start ... (Source: Today Online 2010-09-29T15:21:33Z)

Nintendo to Sell 3DS Handheld Player in February

Nintendo Co. , the world's largest maker of video-game players, will begin Japan sales of its three-dimensional handheld starting Feb. 26 to revive sales amid slumping demand for the Wii console. The 3DS will be priced at 25,000 yen ($299), and will be ... (Source: Bloomberg 2010-09-29T10:06:35Z)

Popular, Inc. Announces Completion Of Sale Of Majority Interest In EVERTEC To Funds ...

Popular, Inc. (NASDAQ:BPOP) announced today the completion of the merger pursuant to which funds managed by Apollo Management, L.P. acquired a 51% interest in Popular's processing subsidiary, EVERTEC, and related processing businesses, through the ... (Source: Street.Com 2010-09-30T19:52:23Z)

U.S. Economy: Business Activity Picks Up, Claims Fall

(Updates with closing market prices in fifth paragraph.) Sept. 30 (Bloomberg) -- Business activity in the U.S. unexpectedly accelerated and fewer workers filed claims for jobless benefits, easing concern the world's largest economy is retrenching further ... (Source: BusinessWeek 2010-09-30T20:21:01Z)

China's SAIC Noncommittal on Stake in G.M. I.P.O.

SAIC , the Chinese automaker and General Motors partner, said Monday it is paying close attention to G.M.'s upcoming stock sale, but gave no hint over whether it plans to take a stake itself, The Associated Press reported. G.M. executives in the U.S. and ... (Source: New York Times Blogs 2010-09-20T09:48:38Z)

Nintendo 3DS Release Date and Games Announced Today

There will also be 3-D versions of Kid Icarus , Nintendogs , The Legend of Zelda: Ocarina of Time , Super Mario Land , and Star Fox 64 . There is also expected to be another Megaman Legends release, and surely even more games that haven't been announced at ... (Source: Associated Content 2010-09-29T16:47:27Z)

U.S. data supports modest 3rd-quarter growth hopes

WASHINGTON, Sept 30 (Reuters) - New U.S. claims for jobless aid fell last week, while manufacturing in the nation's Midwest region grew faster than expected in September, supporting the view that economic activity picked up a bit in the third quarter ... (Source: The Guardian 2010-09-30T21:03:58Z)

Popular Completes Sale Of Majority Stake In EVERTEC To Funds Managed By Apollo ...

(RTTNews) - Popular, Inc. (BPOP: News ) on Thursday announced the completion of the merger pursuant to which funds managed by Apollo Management, L.P. acquired a 51% interest in Popular's processing subsidiary, EVERTEC, and related processing businesses ... (Source: RTT News 2010-09-30T19:59:32Z)

In New Recording, Bin Laden Calls For Aid Group

Al-Qaida leader Osama bin Laden called for the creation of a new relief body to help Muslims in an audiotape released Friday, seeking to exploit discontent following this summer's devastating floods in Pakistan by depicting the region's governments as ... (Source: NPR News 2010-10-01T13:24:39Z)

2nd UPDATE: Repsol To Sell 40% Of Brazil Assets To Sinopec

(Updates with stock price details and analysis and background of China energy transactions.) MADRID (Dow Jones)-- In one of the largest Chinese oil acquisitions to date, Spain's Repsol SA (REP) Friday announced the sale of 40% of its Brazilian assets to ... (Source: Wall Street Journal 2010-10-01T08:59:48Z)

Japan PM warns on China as 3 freed Japanese return

Japan's prime minister has raised concerns about China's widening maritime activity across Asia, including waters near disputed islands where a ship collision ignited a bitter diplomatic feud. Prime Minister Naoto Kan's comments came in a major policy ... (Source: AP - msnbc.com 2010-10-01T10:04:13Z)

Japan P.M. concerned over China's maritime expansion

TOKYO (AP) — Japan 's prime minister expressed concern Friday over China 's strengthening military power and expanding maritime activity in Asia , including waters near disputed islands where a ship collision ignited a bitter diplomatic feud. Prime ... (Source: USA Today 2010-10-01T06:43:47Z)

Bin Laden uses Pakistan floods to drum up support

CAIRO — Al-Qaeda leader Osama bin Laden called for the creation of a new relief body to help Muslims in an audiotape released Friday, seeking to exploit discontent following this summer's devastating floods in Pakistan by depicting the region's ... (Source: Courier-Post 2010-10-01T13:24:39Z)

FACTBOX-China M&A activity, energy deals and Brazil investment

Oct 1 (Reuters) - Chinese refiner Sinopec Group and Spanish oil major Repsol ( REP.MC ) have agreed to form a $17.8 billion joint venture to exploit Repsol's Brazilian oil deposits, Repsol said on Friday. [ID:nLDE69007U] Fast-growing, resource-hungry China ... (Source: Reuters 2010-10-01T11:22:58Z)

Data supports modest 3rd-quarter growth hopes

By Lucia Mutikani WASHINGTON (Reuters) - New U.S. claims for jobless aid fell last week, while manufacturing in the nation's Midwest region grew faster than expected in September, supporting the view that economic activity picked up a bit in the third ... (Source: msnbc.com 2010-09-30T21:03:58Z)

Geithner Plays Down Risk of Trade Battle With China Over Yuan

Oct. 1 (Bloomberg) -- Treasury Secretary Timothy F. Geithner played down the danger of a trade war over China's currency policy after U.S. lawmakers took a step toward approving a bill designed to protect against Chinese imports. "We're not going to ... (Source: BusinessWeek 2010-10-01T04:34:56Z)

At Paris, conventional engines still going strong

Hybrids and electric cars may get top billing. But at the Paris Auto Show, conventional engines are showing they have plenty of mileage left. New gas and diesel models have carbon emissions not far behind those of hybrids, and there's nothing old-fashioned ... (Source: AP - msnbc.com 2010-10-01T11:44:26Z)

Nintendo Slashes Guidance: Facing Strong Competition From Google and Apple

Nintendo's ( NTDOY.PK ) new 3DS portable device sounds cool , but it's showing up late, and that's going to affect Nintendo's business. Nintendo said the 3DS would ship in Japan next February 26, missing the holiday season, we learn via a research note ... (Source: Seekingalpha.com 2010-09-30T00:54:13Z)

Unemployment rate falls for largest metro areas

WASHINGTON (AP) — Unemployment fell in nearly two-thirds of the nation's 372 largest metro areas last month, the broadest improvement since May. The jobless rate dropped in 230 cities in August, the Labor Department said Wednesday. It rose in 95 cities ... (Source: The Herald 2010-09-30T12:57:12Z)

Treasury announces sale of Citigroup shares

WASHINGTON -- The government said Wednesday it is starting to sell $2.2 billion in trust preferred shares that it holds in Citigroup , another move to recoup the costs incurred in the $700 billion financial bailout. The Treasury Department said the pace of ... (Source: Forbes 2010-09-29T14:31:27Z)

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