Updated throughout the day. White House Budget Director Peter Orszag will resign (various) Chinese state-owned banks are aggressively buying dollars (Reuters) Spyglass seen is the most likely candidate to run MGM (Reuters) Douglas A.…
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…
By John Tamny of Forbes Nouriel Roubini is the most overrated pundit in economics today. He continues to dine out out on a crisis prediction that only came true thanks to government intervention that…
Japan’s new ruling party says that the country’s budget will be balanced by 2020 and that massive bond sales to cover the country’s large sovereign debt will become less and less necessary. Annual government…
Where will Honda Motors (NYSE: HMC) and Toyota Motor (NYSE: TM) go to build their cars and trucks now that Chinese workers striking for better wages? Even if those wages are double what the…
Walmart (NYSE: WMT) will add dozens of stores in the Chicago areas and about 12,000 jobs over the next five years. The move has the blessing of the city. “Our city is facing a…
White House Budget Director Peter Orszag is about to resign, perhaps to get married and have a less hectic life. He certainly get a job in the private sector that will pay him several…
Reuters: The White House budget director will leave. Reuters: China’s state-owned banks are buying dollars. Reuters: Intel (NASDAQ: INTC) and the FTC are in talks to settle a market abuse case. Reuters: Amazon.com Inc…
Amazon.com Inc (NASDAQ: AMZN) cut the price of its basic Kindle e-reader to $189 from its current price of $259 and Barnes & Noble (NYSE: BKS) cut the price of its 3G/WiFi compatible Nook…
The $75 billion Making Home Affordable Program has not lead to many permanent mortgage modifications. Through May, the number was only 340,459. The figure is particularly pathetic compared to the number of borrowers who…
Japan’s Toshiba Corp. thinks it has identified a new class of device, a multipurpose mobile computer, that is a fully functional personal computer and an e-reader. To meet that demand, Toshiba has announced a…
Jean-Claude Trichet, head of the ECB, has been blamed in part for the disastrous drop in the euro and the spread of the Eurozone credit crisis which began in Greece. He should have gotten…
It is hard to tell why anyone would want an e-reader that only works with WiFi, but Barnes & Noble (NYSE: BKS) believes that there is a market. The faltering bricks-and-mortar constrained firm says…
Updated throughout the day. ” France Télécom’s supervisory board has approved the firm’s participation in a joint bid with two other investors for a stake in Le Monde” (Reuters) “BASF, the world’s largest chemicals…
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 “Toy Story 3” numbers are better than they look. Initial estimates are that the Pixar movie, distributed by Walt Disney (NYSE: DIS), brought in $109 million in box office receipts. That does not…
The US government cannot count to ten using both hands. Neither can most scientists is would seem. BP plc (NYSE: BP) has the same problem. It released documents yesterday that show the flow of…
It is easy to forget that, unlike money, there is a limited supply of gold. Government printing presses have been hard at work since the beginning of the recession. The mining of gold may…
The percentage of unemployment among black workers is 16.5%. Among Hispanics it is 12.4%, according to the Bureau of Labor Statistics. So, it is not terribly surprising that mortgage defaults among the two groups…
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…