Google Inc. (NASDAQ: GOOG) will try to dominate the online e-commerce travel market the way it has come to dominate cellphone operating systems with its Android product. In other words, it is impossible to…
Sinopec, officially China Petroleum & Chemical Corp. (NYSE:SNP), has initiated a program to evaluate shale gas deposits in the southern part of the country. Estimates of the size of the potential resource are about…
The Baltic Dry Index, which tracks global shipping rates, has fallen for 24 consecutive days, its longest losing streak since August 2005. The BDI closed at 2,406 yesterday, its lowest point since last October.…
Interest rates on 30-year, 15-year, and 5-year mortgages hit all-time lows, which has done nothing to simulate the real estate market. There is no end in sight to the buyer’s strike. Pending sales of…
The US Treasury, bound and determined to get bank every dime it loaned the banking industry during the credit crisis, will sell more Citigroup (NYSE: C) shares. The bank’s stock actually rose 1% on…
The Labor Department announced the most recent statistics on jobless claims. The figures confirm information from ADP and Challenger Gray. They also foreshadow weak unemployment data for June “In the week ending June 26,…
Updated throughout the day. Robert Benmosche, CEO of American International Group (NYSE: AIG) threatened to resign, again. (Bloomberg) Morgan Stanley Group (NYSE: MS) will hire 100 new private bankers (NY Times) Douglas A. McIntyre
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…
The Gulf oil leak and Hurricane Alex are not moving up crude prices. In fact, the price of oil is back below $75 .Oil dropped into the $65 range last September as demand slackened…
Amazon.com has already dropped the price of its basic Kindle e-reader by $70 to $189. The moved followed a price cut of Barnes & Noble’s (NYSE: BKS) Nook from $199 to $149 and a…
Robert Benmosche, the CEO of American International Group, threatens to quit his job so often that it could be timed by a metronome. He whined when the press criticized him for spending time at…
The list of reasons that show the global economic recovery is slowing grows longer by the day. The US employment and real estate troubles have extended into June after hopeful signs early in the…
Reuters: The House passed the financial reform bill leaving the Senate to act Reuters: Work on the BP plc (NYSE: B) oil spill will be delayed because of Hurricane Alex. Reuters: China’s economic growth…
CNET reports that Microsoft Corporation (NASDAQ: MSFT) will end production of its Kin social media smartphone. It has only been on the market for two months. Microsoft told CNET that “We have made the…
There is another reason for the embattled euro to sell off. Moody’s says it may downgrade Spain’s debt which currently has an Aaa rating. The agency said, “Moody’s decision to initiate this review was…
The world’s most profitable bank, China’s Industrial and Commercial Bank of China, plans to begin making loans in excess of $100 million to US commercial real estate owners. The ICBC, as it is known,…
The hits just keep on coming for Monsanto Corp. (NYSE:MON). The company today reported third fiscal quarter EPS of $0.81 on revenue of $2.96 billion. EPS estimates had been $0.80 and revenues were expected…
For a while there, during the economic downturn that started in the second half of 2008, Wal-Mart Stores Inc. (NYSE:WMT) looked like it had found a large number of new customers for its low-priced…
The RealtyTrac numbers from this morning showed that improved housing activity in March and April was caused by federal tax breaks and low mortgage rates. Once those benefits disappeared, home sales and home starts…
Updated throughout the day. Blackstone Group (NYSE: BX) is close to finishing fund-raising for its sixth global buyout fund–$9 billion (Reuters) Mukesh Ambani, the Indian billionaire who controls Reliance Industries, is close to signing…