The World Trade Organization (WTO) has upheld a lower panel’s ruling that Boeing Co. (NYSE: BA) received illegal subsidies and payments from US local, state, and federal governments amounting to several billion dollars. The…
In an exclusive report, Reuters reveals that Netflix Inc. (NASDAQ: NFLX) CEO Reed Hastings has been meeting with executives of US cable companies seeking a deal that would include Netflix’s streaming video offerings as…
When even the strongest of the eurozone economies fails to meet its budget cutting target, a person might assume that austerity may not be the answer. We’ll soon get a chance to find out…
Shortly before noon ET today, the three major US stock indexes are mixed, with the DJIA up about 7.5 points at around12,930, the Nasdaq down about 13 points at 2,976, and the S&P 500…
Tech research firm Gartner Inc. (NYSE: IT) says the days of the PC are numbered, and by 2014, “the personal cloud will replace the personal computer at the center of users’ digital lives.” The…
Last week Swiss watchmaker Swatch Inc. filed a $4.2 billion lawsuit against Tiffany & Co. (NYSE: TIF) alleging that the US jeweler reneged on a joint venture that resulted in lost profit to the…
Cheseapeake Energy Corp. (NYSE: CHK) CEO Aubrey McClendon laid it on the line in an interview with Bloomberg News: We are presently owned by a group of investors who don’t think gas prices will…
The three major US equities indexes opened slightly higher this morning as investors absorb the aftermath of the Greek debt swap. The deal went off smoothly last week, but did trigger a credit event…
Italian GDP shrank by -0.7% in the fourth quarter of 2011, following a dip of -0.2% in the third quarter, marking the country’s official entry into a recession. For the full year, Italian GDP…
In an all-stock deal, China’s leading online video provider, Youku Inc. (NYSE: YOKU), is merging with Tudou Holdings Ltd. (NASDAQ: TUDO). Tudou shareholders will receive 7.177 shares of Yoku stock for each share of…
US index futures are nearly flat this morning following last week’s Greek debt swap deal and the issuance this morning of new Greek debt, albeit at astronomical yields (more coverage here). In Europe, the…
Anyone who thought the problem with Greek debt was in the rear-view mirror after last week’s debt swap probably also believes in the tooth fairy. The country issued new sovereign bonds this morning with…
With one exception, the signals portend that the US economy is recovering: private employers are adding jobs, and so are some state and local governments; equities prices are rising; new construction is inching up;…
The International Swaps and Derivatives Association Inc. (ISDA) has “resolved unanimously that a Restructuring Credit Event has occurred with respect to The Hellenic Republic (Greece).” The triggering action was Greece’s invocation of the “collective…
US equities opened higher this morning following the report on a US non-farm payroll gain of 227,000 jobs (more coverage here). In Europe, the Greek debt swap deal went off smoothly, but the declaration…
A law professor at Duke University suggests that now that Greece has completed its so-called private-sector investor (PSI) debt swap, Portugal should seriously consider following a similar course of action on its medium-term bonds.…
The Federal Communications Commission (FCC) has sent a letter to Verizon Wireless, a joint venture of Verizon Communications Inc. (NYSE: VZ) and Vodafone plc (NASDAQ: VOD), asking for more additional information related to Verizon’s…
Early leaks of search engine data from comScore shows that Google Inc. (NASDAQ: GOOG) has added to its market share in February, posting a 66.4% share . Microsoft Corp. (NASDAQ: MSFT) and Yahoo! Inc.…
After the markets closed yesterday, rare earths miner Molycorp Inc. (NYSE: MCP) announced that it had agreed to acquire Toronto-listed Neo Materials Technologies Inc. for CDN$1.3 billion, or about CDN$11.30/share, a 40% premium to…
Shareholders of El Paso Corp. (NYSE: EP) have overwhelmingly approved the company’s $24 billion merger with Kinder Morgan Inc. (NYSE: KMI). El Paso reported this morning that 79% of shareholders voted on the deal…