It’s been six years since the US Congress outlawed “illegal online gambling” without ever defining what the term meant. Congress did say what it wasn’t however: it is not illegal for a state to…
The three major US stock indexes opened mixed this morning as markets reacted to weak PMI reports from both Germany and China (more coverage here). A flash reading on US PMI was also at…
Reports by two independent auditing firms have concluded that €51 billion-€62 billion will be required to recapitalize Spain’s banks sufficiently to withstand losses expected over the next few years. The IMF had earlier estimated…
Flickr, Images of MoneyAs part of the $26 billion mortgage foreclosure settlement reached between the federal and state governments with a number of mortgage lenders, borrowers who believe that their homes were foreclosed in…
Canadian-based oil & gas producer Encana Corp. (NYSE: ECA) announced today that it planned to expand its 2012 capital spending budget by $600 million in order for the company “to take advantage of positive…
US manufacturing firm Broadwind Energy Inc. (NASDAQ: BWEN) announced today that it had won a contract to supply 14 wind turbine towers to Goldwind, China’s second-largest wind energy company. The towers will be installed…
Chesapeake Energy Corp. (NYSE: CHK) announced this morning that the new independent, non-executive chairman of the company’s board of directors will be Archie W. Dunham, former chairman and CEO of ConocoPhillips (NYSE: COP). Dunham…
Food processor ConAgra Foods Inc. (NYSE: CAG) reported fourth quarter results this morning, beating the consensus EPS estimate by one penny at $0.51 and surpassing a revenue estimate of $3.38 billion by posting sales…
The flash US purchasing managers index (PMI) for June has dropped from 54 in May to 52.9. The reading comes from research firm Markit Economics Ltd. According to Markit, this is the lowest reading…
An asset sale to a Chinese buyer would not be a first for Chesapeake Energy Co. (NYSE: CHK), but if a reported deal does happen, it would likely be the largest such deal the…
The US Department of Interior’s Bureau of Ocean Energy Management (BOEM) yesterday held a lease sale for 39 million acres of US outer continental shelf open for development. The total of all bids came…
The three major US stock indexes opened slightly lower this morning as markets waited patiently for an afternoon announcement from the FOMC. When the word finally came that Operation Twist would continue through the…
The SPDR Gold Shares ETF (AMEX: GLD) is off about -0.2% at $156.89 in a 52-week range of $143.97-$185.85. The iShares Gold Trust (AMEX: IAU) is off about -0.1% at $15.76 in a 52-week…
Biofuels maker Gevo Inc. (NASDAQ: GEVO) is seeing its share price skyrocket today following a court ruling that the company probably did not infringe on a competitor’s patents. Gevo is now free to sell…
New research from consulting firm InSites Consulting reveals a high level of social media usage in the US, much higher than in Europe. Some 80% of US companies use Facebook Inc. (NASDAQ: FB), 45%…
Last week’s decision by OPEC to continue to produce crude oil at the cartel’s official quota level of 30 million barrels/day had the knock-on effect of emboldening tanker operators to raise shipping rates for…
Jon OggToday’s announcement from The Procter & Gamble Co. (NYSE: PG) included a statement that the company expects to experience a negative impact on sales of -4% due to foreign exchange transactions. For the…
Chinese solar PV maker JinkoSolar Holding Co. Ltd. (NYSE: JKS) reported results for the company’s first fiscal quarter today, and the results were not pretty. The company, once positioned as a low-cost provider, posted…
In March the US, the European Union, and Japan filed complaints with the World Trade Organization (WTO) accusing China of violating free trade rules by limiting exports of rare earth minerals which in turn…
After a couple of years as a privately held company, Burger King Worldwide Inc. (NYSE: BKW) will trade publicly again, beginning today on the New York Stock Exchange. There is no IPO, however, and…