Germany’s finance minister, Wolfgang Schaeuble, said yesterday that he does not believe Germany should continue to pour money down the “bottomless pit” of Greece. Greek President Karolos Papoulias responded: I don’t accept insults to…
The three major US stock indexes opened slightly higher this morning, but the DJIA almost immediately turned south and remained in negative territory all session. The Nasdaq composite and S&P 500 turned south in…
Mobile video application maker Vringo Inc. (AMEX: VRNG) and social networking giant Facebook have settled a dispute between the two companies related to Vringo’s use of the Facetones mark and domain name. According to…
General Motors Co. (NYSE: GM) is making changes to salaries, bonuses, and pensions for its non-union, salaried employees. The wage and bonus freezes will apply to all 29,000 of the company’s salaried workers. GM…
The US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories fell by 200,000 barrels last week, bringing the total US commercial crude inventory to 339.1 million…
At about 12.30 p.m. ET today, the three major equity indexes remain mixed, with the DJIA down about 34 points at about 12,844, the Nasdaq up about 14 points at around 2,946, and the…
The Federal Communications Commission (FCC) has announced that it will seek public comments beginning next week on revoking the tentative permit it granted to LightSquared Inc. to build a high-speed wireless broadband network. The…
Cereal maker Kellogg Co. (NYSE: K) has offered $2.7 billion for the Pringles business of Proctor & Gamble Co. (NYSE: PG). The offer follows hard on the heels of the withdrawal of a similar…
According to automobile industry research firm J.D. Power & Associates, a division of The McGraw-Hill Companies Inc. (NYSE: MHP), dependability ratings on 2009 cars after three years on the road have hit an all-time…
The National Association of Homebuilders (NAHB) reported today that the NAHB/Wells Fargo Housing Market Index (HMI) increased for the fifth consecutive month to a February reading of 29, up from 25 in January. NAHB’s…
The US Treasury reported today that foreign investors sold a net $21 billion of long-term US securities in December 2011. In the previous month, foreign investors purchased a net $58 billion in long-term US…
The three major US equities indexes opened higher this morning following an assurance from China’s central bank that it would continue to hold European sovereign debt and to participate in finding a resolution to…
The latest report from Cisco Systems Inc. (NASDAQ: CSCO) on mobile data traffic offers any number of ‘gee whiz’ moments, but perhaps the most telling is the absolute explosion expected in data traffic generated…
Iran has reportedly stopped its crude oil shipments to six European countries in a preemptive strike against European sanctions against Iran that would have been put into effect in July. The six countries that…
US index futures are getting a boost this morning following some encouraging words from China’s central bank. The governor of the People’s Bank of China assured investors that the country will continue to European…
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, has cut its oil production growth target for 2010 by 30%, from 440,000 new barrels/day to 336,000 barrels/day. The company cites a delay in construction of a…
The American Chamber of Commerce in Shanghai, known as AmCham Shanghai, has released its annual report on US businesses in Shanghai. The companies did well in 2011, but not as well as in 2010.…
Last week China’s Proview Technology (Shenzen) filed a $38 million lawsuit against Apple Inc. (NASDAQ: AAPL) claiming that the US company infringes on its copyright of the ‘iPad’ moniker. According to a Proview lawyer:…
For the fourth year in a row, global mobile data traffic has more than doubled according the latest report from Cisco Systems Inc. (NASDAQ: CSCO). Mobile video traffic accounted for more than half of…
Later today President Obama will visit a Fortune Brands & Home Security Inc. (NYSE: FBHS) Master Lock plant in Milwaukee that to press his plans to return manufacturing jobs to the US. The president’s…