Does the Baltic Dry Index Really Indicate Anything?
The Baltic Dry Index has just dropped for a 32nd straight day, the longest continuous drop in the index in nine years. The BDI measures daily shipping rates for dry bulk vessels that carry…
All Work
Douglas A. McIntyre
Chinese Demand Could Lead to Boom in Uranium Prices
Uranium ore prices peaked at $136/pound in July 2007 and have fallen nearly 70% since then to $41.75/pound. The drop came as new mines were developed in response to anticipated growth in the nuclear…
Class-Action Lawsuit to Proceed Against Apple, AT&T
A federal district court judge in California ruled Friday that a lawsuit against Apple Inc. (NASDAQ:AAPL) and AT&T (NYSE:T) may proceed as a class action. The suit combines individual lawsuits that argue that Apple…
What D.C.’s Social Safeway Can Tell Us About Economics
By John Tamny of Forbes During its yearlong reconstruction, the trade deficits that Washington, D.C. residents held with the “Social” Safeway plummeted. To conventional economists this would be a good thing, but the Safeway example reminds us…
Today’s Best Market Rumors (7/12/2010)
Updated throughout the day. Exxon Mobil (NYSE: XOM) may buy BP plc (NYSE: BP) various BP plc may sell assets in Prudhoe Bay To Apache (NYSE: APA). (various) Blackstone (NYSE: BX) will manage Asian…
The Twitter-24/7 Wall St. Stock Market Report 7.12.2010 The Wisdom Of Crowds
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 Credit Scores Crash To New Lows
“Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It’s…
Toyota: Tesla’s Savior
Toyota Motor (NYSE: TM), a company in the midst of saving its own image and financial health, will extend a lifeline to a small and struggling car company–Tesla NASDAQ: TSLA), which recently went public.…
Japan Election: The First Blow To Global Austerity Plans
The ruling Japanese party, the Democratic Party of Japan (DPJ), lost its control of the upper house of the nation’s legislature. The results may make it harder for the DPJ to push forward it…
24/7 Wall St.’s Corporate Power Rankings: Week 26
The 24/7 Wall Street Corporate Power Rankings of the 32 most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and…
Chronic Unemployment Crushes Health
Chronic unemployment undermines a person’s sense of freedom in a free society. That is one of the reasons the extended economic downturn, in its third year and perhaps still in progress, has done such…
Media Digest 7/12/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Profit surprises are likely for companies linked to the oil spill. Reuters: Lawsuits against Apple Inc. (NASDAQ: AAPL) and AT&T (NYSE: T) over service were certified as class actions. Reuters: BP says it…
Exxon Mobil May Have Interest In BP Purchase
Exxon Mobil (NYSE: XOM) may make an offer to buy BP plc (NYSE: BP). The shares in the UK company are up 7% on the rumor. BP may be in the process of selling…
BP May Make Huge North American Asset Sale
BP Plc is in talks to sell up to $12 billion of assets, including a stake in Alaska’s Prudhoe Bay, to Apache Corp to help pay for its Gulf of Mexico oil spill, The…
Airline Industry – Reality and Fiction: A 10 Year Look Back
Is “growth” really returning to the airline industry? Based on almost daily press releases, airlines appear to be adding new destinations every week Analysis by AirlineFinancials.com shows most airlines are not adding any significant…
BP Removes Well Cap, Oil Flows Freely
It is a risky move that could backfire. BP plc (NYSE: BP) will replace the current cap on its leaking well with a new one which could collect more crude. The cap which has…
China Trade Surplus Surges
Members of Congress who are trying to force the Obama Administration to label China as a “currency manipulator” now have another weapon. The China Customers Bureau reported that the People’s Republic’s trade surplus for…
FDIC Closes Four More Banks, Annual Total At 90
The FDIC closed two more banks on Friday, bring the total for the year to 90. A total of 150 banks will be closed in 2010 based on the current pace. That would be…
Aircraft Builders Compete for Air Force Tanker Contract Again
Maybe the third time will be the charm. Today marks the closing date for bids to build a new refueling tanker for the US Air Force. Boeing Co. (NYSE: BA) submitted its 8,000 page…
IMF Identifies Europe as Risk to Global Recovery
By Heather Horn On Wednesday, the IMF released a report revising world growth forecasts. The U.S. is now predicted to do somewhat, and global growth has been revised upwards overall. Risks remain, however, particularly…