A $30 billion small business lending bill on Thursday has passed Congress, and will be signed by Obama after his Democrats’ hard-fought triumph weeks ahead of the November elections.

In addition, the House of Representative granted the bill a concluding approval on a typically party-line vote of 237 to 187. The bill will now go to Obama for signing on Monday.

The bill sets hold of a lending support for small businesses and is an essential legislative victory for Obama alongside his fellow Democrats who are struggling to show not-so-happy voters     that they are dedicated in their quest to generate more jobs that will help the sluggish economy.

However, in the November 2 congressional elections, Republicans have the composure that they will make big gains in the House and the Senate equally as voters worries about the sluggish economic recovery and a persistently high 9.6 joblessness rate.

Also, surveys revealed that voters did not think that Obama has done enough to aid the United States in recovery from the worst recession after the Great Depression in the 1930s.

However, Obama said in a statement that the small business lending bill that cleared the Congress today will assist in providing loans and tax cuts for millions of owners of small businesses without adding any money in the nation’s budget deficit.

He also said that the bill is desirable because small businesses experienced a hard time getting loans ever since the financial crises broke out last December 2007. Also, they estimate that the incentives can offer up to $300 billion in latest small business credit with the coming years ahead and generate 500,00 jobs.

Furthermore, House Democratic Leader Steny Hoyer said that the bill was vital because it will let small businesses to flourish and grow.

The Microsoft’s co-founder, Bill Gates stays the wealthiest American on the yearly ranking of Forbes magazine of the 400 richest Americans with approximated $54 billion assets.

On the other hand, the Berkshire Hathaway’s chief executive officer, Warren Buffett remains number two in the United States with an asset of $45 billion. According to Forbes magazine, Gates and Buffett stayed on their ranked as number one and two respectively last 2009.

However, in 2009, the number of list members was 314 compared to 85 this year because of wealth turned down, while assets increased for 217 members. The total value of the 400 climbed by eight percent to $1.37 trillion, yet below the total of $1.57 trillion last 2008.

Furthermore, the editor of global wealth for Forbes, Luisa Kroll said in an interview on the telephone that they have improved but they are still far from the result in 2008. The CEO of Facebook, Mark Zuckerberg, 26, was also on the list with a rank of number 35.

Zuckerberg saw his assets increase 245 percent to $6.9 billion, the biggest raise of percentage on the list. Kroll said that there are exceptionally few are at a record, with the exemption of how amazingly fine Facebook is doing.

In addition, the founder of Galleon Group LLC, Raj Rajaratnam, 53, who is under accusation for insider teaching and is owed to go to trial, next year drooped off the list. The mayor of New York, Michael Bloomberg was the number ten on the list with an asset of $18 billion.

Moreover, Bloomberg is the main owner and founder of Bloomberg, the Bloomberg News’ parent company. Furthermore, the limit for the 400 list of Forbes is back up to $1billion after dropping to $950 million last 2009.

The House of Representatives will vote next week on a plan to have tax breaks and loan incentives for small businesses, according to House Democratic Leader Steny Hoyer on Friday.

Hoyer also added that the vote will not take place until 6 p.m. on Wednesday. If the bill will be passed to the House and to the office of the president, it will generate funds that will help small businesses to stay in the industry.

It can also serves as the Democrats’ ace to regain the trust of weary voters in the upcoming November midyear elections.

Also, the bill was already approved by the Senate. If the house passes the evaluation as anticipated, it would go to President Barack Obama for him to sign the law.

Because of the stagnant status of the unemployment rate at 9.6 percent, Democrats are enthusiastic enough to prove to the people that they are taking all the essential steps to improve the economy prior to the November 2 congressional elections. This year, many of the Democrats effort to have a job-creation have been blocked by the Republicans.

Meanwhile, small businesses have protested that they experienced difficulty in obtaining access to credit following banks’ scaling of lending activity all throughout the 2007-2009 financial crisis.

The small-business bill, which is supported by different industry groups, would create a $30 billion fund that the government will used to invest in different independent community banks to stimulate lending to small firms.

Also, it would prohibit from taxes that all capital achieves in sales of small-business stock, and speed up the write-offs of business taxes for purchasing new equipments and some other expenses. Moreover, tax breaks accounted in the bill will have a total of $12 billion that can help small businesses.

British Petroleum (BP) announced on Friday that it is expecting to put an end on the largest oil spill in U.S. history with a final shot of cement.

According to an e-mailed statement from London-based BP, the final show of cement can be injected on the well because the relief well that intercepted the outer casing located at the bottom of Macondo well did not show any complications.

The April 20 explosion that killed 11 rig workers and spilled 4 million barrels of oil into the ocean wiped out almost $70 billion from the market value of BP. It also caused the deep-water drilling in the Gulf to stop for a while and cost the job of Tony Hayward, chief executive officer of BP. According to BP, the injection of cement into the space between steel casing of the well and the outer walls will permanently seal the Macondo well in the Gulf of Mexico.

According to Nansen Saleri, chief executive officer of Quantum Reservoir Impact LLC, a firm in Houston that advises the companies on how to improve the production of gas and oil, BP is going to put the final punctuation in the worst oil spill in the U.S. He said that the well is already dead but because of its history, it is better to place extra insurance policy to prevent future complications.

BP already spent $8 billion for the oil spill alone. The well that is located about 40 miles from the coast of Louisiana leaked almost 4 million barrels of crude oil in the Gulf. After BP sealed the well on July 15, crude oil or gas stopped leaking from the Macondo well.

Bad Weather prevented BP in permanently sealing the well. BP said that it will take a few weeks before they can drill a relief well that can reach the level where Macondo well is located.

The development in Best Buy’s growing cell phone industry helped the net income of electronic retailers raised $254 million or 60 percent on its second quarter, the company stated Tuesday.

Furthermore, Best Buy seemed positive memo about the holiday season and lifted its regulation for this year. The company’s shares climbed six percent. According to Brain Dunn, Best Buy’s CEO, shoppers are still very choosy in their expenditure.

Dunn said that however, that will alter on their favor over the back of year’s half. He also said that their customers usually alternate their expenditure to the company’s groups all through the holiday season of shopping and strong listings of goods next across the board strengthen the self-confidence of the company.

In addition, in three months that ended August 28, income in stores open at least 14 months bordered down 0.1 percent and retailing of flat screen TVs continuous to be weak. However, that was equalize by power of Best Buy Mobile, where the company has assertively going up.

Dunn added that Best Buy Mobile is the particular largest driver of revenue development for the company this year. While the smartphone sales jump, customers have been purchasing more protection plans, services and accessories.

Until now this fiscal year, 34 stores of Best Buy Mobile have opened up for a total of 110. No less than 50 more store are to open before the year ends including 11 this month. Furthermore, there are 1,100 mobile places within standard stores of Best Buy.

On the other hand, sales of movies, music, video games, video game consoles, and TVs dropped. Best Buy’s TVs have been a weak mark for electronics traders as cost turns down, which drive new buys, are less remarkable than in previous.

Hewlett-Packard is close to a deal to purchase ArcSight, maker of security software, for approximately $1.5 billion cash.

However, the source person said that the agreement is still in the process and it may be publicized tomorrow. There is no other information said because the talks are private. Based on the closing stock price last September 10, the market value of ArcSight is $1.21 billion and the Wall Street Journal announced the planned buying prior today.

Moreover, the buying will pursue acquirements by Hewlett-Packard in areas like smartphones, networking and services tool to reduce its reliance on the servers and computers’ lower-margin. Cathie Lesjak, the CEO of Interim, settled last September 2 to give$2.35 billion for the maker of storage systems, 3Par, appealing a bidding war with Dell by giving over thrice as the $9.65 closing stock price of 3Par last August 13 before the interest of Dell to also purchase 3Par was made public.

In addition, the spokesperson of Palo Alto, Mylene Mangalindan, refused to say anything regarding about the deal. On the other hand, the ArcSight’s spokesperson did not instantly return a call of interviewers.

As the maker of security software to recognize distrustful activity on the network of business, ArcSight may assist Hewlett-Packard for better incorporate features for security with their other products. Last month, Intel bought McAfee, supplier of programs that can guard computers from malware and viruses, for $7.68 billion.

Intel compensated a 60 percent payment, emphasizing the increasing importance of computer safety and fueling rumor that associated agreements may be in the efforts. ArcSight, based in Cupertino, California, also focuses in programs that can aid government agencies and companies to meet the compliance conditions for the system of their computer.

Oracle is now considering Mark Hurd, the former Chief Executive Officer (CEO) for Hewlett-Packard (HP) for the no.2 position in the company.

Hurd, ousted by HP a month ago, is likely to join his longtime friend, Larry Ellison, the CEO of Oracle.

Three days after Hurd’s resignation to HP, Ellison described HP’s move as the worst personnel decision since members of the Apple board fired Steve Jobs many years ago.

HP’s market value was nearly doubled during Mark Hurd’s five-year term. The Palo Alto base company surpassed IBM Corporation’s annual revenue and it being the world’s largest computer maker. However, Hurd’s record was stained when a worker at HP filed claims of sexual harassment against the ex-CEO. In addition to that, HP accused him of falsifying his expense reports.

HP hired a law firm to investigate on Hurd’s case. The law firm found no evidence of the sexual harassment again Hurd. However, while investigating on the worker’s claim of sexual harassment, the company found discovered irregular expenses on Hurd’s account.

At the moment, Hurd’s soon to be title in Oracle has not been disclosed yet. Oracle, currently has 2 presidents working under Ellison; Charles Phillips and Safra Catz.

Hurd, who previously worked for NCR Corporation for about 25 years before moving to HP. He is known to be a skillful worker, hands-on manager with the ability to run highly efficient operations.

The ex-HP CEO reportedly received numerous job offers from private equity firms and public companies since his resignation. In contrast to his friend Ellison who is known in the Silicon Valley for being brash aggressive and flamboyant but with a keen eye for talent, shun usually avoids the spotlight.

This year, Oracle acquired Sun Microsystems Inc. for $7.4 billion. Sun, owns Solaris operating system that powers corporate database computers. Sun Microsystems also owns Java, a platform that runs application on mobile devices.

David Scott, a British executive of 3Par, a data storage firm from Silicon Valley sets himself to become one of the richest technology executives in the U.K.

Scott, 48, is preparing to scoop his personal $96 million (£65m) fortune after the intense bidding fight between the two giant technologies, Hewlett-Packard (HP) and Dell.

Following an intense two weeks of bidding fight, both HP and Dell continued to out-bid each other to acquire the San Francisco based data storage firm, 3Par, and today HP is set to buy the company for about $2.35 billion.  The sale price at $33 per share is almost three times the figure at which the storage firm stock was shifting on the Wall Street before the bidding started and is an indication of willingness for the self-named “cloud computing.”

Scott, the chief executive of 3Par who has operated the firm for almost nine years and has about 4.6% share will become the biggest single winner from the agreement.

3Par’s struggle caught Wall Street by surprise as well as leaving the technology analysts speechless. The little-known firm specializes in giving equipments, which enables companies to store massive quantity of information isolatable, lessening the problem of storage and high-priced in-house server software. In addition, 3Par disputes that today the corporate industry is looking forward to a lasting transition in buying storage used for utility from third parties, which is comparable to the demand on gas or electricity supply.

According to Scott, it is just like coming back from its former employer after the buyout. He himself became a member of the British operation of HP from institution and worked as a systems engineer for the computer company and an 8-year salesperson. It was in 1991 when he transferred to an office base in California.  In 2001, he decided to leave HP and became 3Par’s executive.

Most analysts applauded Scott after the finalization of the deal because they believed it’s a safe move that even the company is not expecting to materialize.

Hewlett-Packard (HP) has increased its offer to £1.2 billion ($1.8 billion) to take over the data storage company, 3Par, against the third biggest computer maker in the world, Dell.

The decision of HP to increase its offer comes just an hours after Dell settled an agreement to take control 3Par, having met the previous offer of HP worth $ 1.6 billion, scheduled on Monday. Furthermore, HP, the biggest computer maker in the world, stated that its bid was higher and it was in a advance arrangement rather than its competitor Dell to accomplish the agreement.

Critics are now anticipating to witness if Dell again competes with the bid of HP. On the other hand, HP also said that it anticipated the agreement for 3Par to be finished by the end of 2010. According to the maker of computer, Dave Donatelli, this is not only their bid higher to the offer of Dell, HP stays uniquely exclusively positioned to perform on the arrangement given the total of actions between the two firms.

Previously, Dell stated its agreement with 3Par will significantly speed up the data income growth of the data storage firm. The company declared in a statement that Dell has an established dedication and follow record in combining and developing acquired companies and promoting their industrial and pioneering cultures.

Analysts said that with gross between April and June approximately twice those of Dell, HP has bigger capitals to appeal upon. Moreover, Ashok Kumar at Rodman & Renshaw said that although Dell has the accounts to raise the bid, they were likely getting the higher limit of what they can give.

Kumar also said that in the long run, Hewlett-Packard is in good position to complete the deal. However, they also questioned whether 3Par was worth much more than the newest bid.

Compensation funds of the victims of the BP oil spill in the Gulf of Mexico is open for claims but some rules can block the victims from seeking other compensations via legal action.

According to the Associated Press (AP), the most current guidelines to the $20 billion fund of BP is that the people who are geographically adjacent to the oil spill and the people who are relying on the resources that are given by the Gulf of Mexico will have an increased chance to receive payment.

The guidelines also comes with a secondary rule that is scheduled for release this coming autumn that will require the businesses and the people who will get the payment to forfeit their rights to sue British Petroleum (BP) and other companies that are involved in the oil spill. If the businesses and the people seek compensation under the fund, then they need to forfeit their rights to sue BP. This rule will save big oil billions.

The new rules and claims are released by Kenneth Feinberg, a Washington lawyer who is chosen by President Barack Obama to run the fund that is produced by BP. Many people said that the compensation is unfair but Feinberg states that the claims are ethical and generous compared to what might received if the lawsuits are pursued.

According to the statement of Feinberg, the people must think that it may take years of uncertain protracted litigation if the people will not take the compensation. There is an alternative and they will be properly compensated. The marketplace also said that Feinberg place restrictions on the 9/11 payouts.

According to the fact sheet released by the White House, the fund will pay all the damage claims filed by businesses and individuals who suffered economically during the oil spill crisis.