Currency Wars: The Referee Fired, The Sport Begins
The IMF was dismissed as the possible arbitrator in the growing currency dispute among the biggest countries. The US immediately said it would push China harder to boost what many see as the yuan’s…
All Work
Douglas A. McIntyre
Media Digest (10/11/2010) Reuters, WSJ, NYT, FT, Bloomberg
Reuters: CNOOC offered $1.1 billion for a part of Chesapeake Energy, a deal the US may not approve. Reuters: Pressure to investigate mortgage practices has begun to build for banks. Reuters: South Korea warned…
Google Creates A Car That Needs No Driver
A car without a driver. A man without a brain. A map that needs not user. Google says that “we have developed technology for cars that can drive themselves.” The cars are not ready…
Only Fools Rush In And Forecast The Double-Dip
Sometimes, it’s not easy being a rich, famous business pundit. These days, the media only wants to know whether the U.S. headed for a double-dip recession. The question — which is legitimate — is…
The Twitter-24/7 Wall St. Market Report (10/8/2010) September Unemployment
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
American Brands In Foreign Hands
The most powerful brands in the world, based on name recognition and earnings, usually take decades to create. The most fertile period of brand creation in America lasted from the 1880s to 1920s. Ford,…
China Telecom May Sell Apple iPhone
Today’s best unfounded rumor comes from Bloomberg. China Telecom, the third largest wireless company in the People’s Republic, is in talks with Apple Inc., (NASDAQ: AAPL) to sell the iPhone in the world’s most…
GM Debt Gets The Junk Rating It Deserves
S&P gave GM a corporate rating of “BB-,” which put it well into “junk” territory. However, the credit agency was optimistic about some of the No.1 American car company’s prospects. GM made money in…
Social Security Sends Nearly 72,000 Checks To The Dead
A new report from the Social Security Office of the Inspector General says that the agency sent nearly 89,000 checks for $250 each to people who were dead or in prison. The payments were…
Moody’s May Upgrade China As It Downgrades The World
Moody’s says it may upgrade the sovereign rating of China from its current A1 level. That would put it on a fast track to match the levels of several other European nations with faltering…
Media Digest (10/8/2010) Reuters, WSJ, NYT, FT, Bloomberg
Reuters: The federal government will supply states with $1.5 billion in funds for small businesses. Reuters: Financial leaders around the world have begun to work to stop a currency war. Reuters: Japan will continue…
Good News/Bad News About The Holiday Season
With the start of the baseball playoffs and football season, investors are starting to look past Halloween to the December holidays. So far, they are liking what they are seeing. Retail sales rose in…
The Gold Mania That Never Was
Sometime in 2010, gold fever became gold mania and then a gold panic. Now comes word from Brett Arends of the Wall Street Journal that that many investors are sitting on the sidelines. In…
The Twitter-24/7 Wall St. Market Report 10/7/2010 Gold & Jobless Claims
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Today’s Best Marker Movers 10/7/2010 iPhone Again
Updated throughout the day Verizon Wireless will offer the Apple Inc (NASDAQ: AAPL) iPhone next year (WSJ) Man Group shares rose on takeover speculation (Bloomberg) Douglas A. McIntyre
Poverty Threatens The Suburbs
Poverty is supposed to be primarily an urban problem. Many believe cities are home to the chronically unemployed and minorities and young people, who traditionally find it hard to get jobs in a recession.…
The World Gets To Sweat Oil Prices Again As Crude Move Toward $85
Oil prices came close to $84 today. The cost per barrel has moved up relentlessly for three weeks. It was only two months ago that light crude priced at just above $70 on the…
Panasonic Wants Back In The Video Game Business
Panasonic wants to join Microsoft (NASDAQ: MSFT), Sony (NYSE: SNE), and Nintendo as a large provider of video game consoles. It will launch a product into that market called “Jungle.” The Wall Street Journal…
China Asks The World Not To Beat The Yuan
China’s Premier Wen Jiabao has told European leaders that if they join the US in an effort to devalue the yuan that all will regret the decision. “I say to Europe’s leaders: don’t join…