Reuters: The yuan rose after China’s flexibility announcement. Reuters: The amount of the Gulf spill could be up to 100,000 barrels a day. Reuters: The government has no easy way out if the recovery…
While BP CEO Tony Hayward was attending yacht races, the first wave of oil from the Deepwater Horizn hit Florida’s Gulf shore beaches beginning a new chapter in the damage caused by the spill.…
China has knuckled under to pressure from the US and G20 nations and will allow a gradual revaluation of the yuan, decoupling it from the US dollar. The US Administration has been pushing for…
Texting while driving, along with talking on cellphones are considered to be a major cause of accidents on American roads. Some studies show that the distraction makes it more likely that these distracted driver…
Anadarko Petroleum, BP’s partner in the Gulf and holder of 25% of the interest in the Mississippi Canyon block 252 lease drilling area, today said that everything was BP’s fault and nothing was Anadarko’s.…
According to SkyNews, Tony Hayward, CEO of BP plc will lose control over the company’s operations in the Gulf of Mexico, the site of the Deepwater Horizon disaster. BP Chairman Carl-Henric Svanberg told the…
After four years, Michigan lost its spot as the unemployment leader in the U.S., according to May numbers from the Bureau of Labor Statistics. Unemployment fell in 37 states during the month. Nevada took…
By Max Fisher of The Atlantic Wire With the spiraling U.S. budget deficit cited as a primary reason for the recently failed jobs bill, there is rising concern on Capitol Hill about how to…
The federal subsidy of $0.45/gal for domestic ethanol is set to expire at year’s end, and the sparks are flying now as the embattled industry seeks to renew government payments. On one side are…
Updated throughout the day. Motorola (NYSE: MOT) will put most of the cash on its balance sheet with its new independent cellphone spin off (WSJ) Several private equity firms seeking new investors will fact…
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…
In another sign that there is concern about the long-term financial viability of BP plc (NYSE: BP) at least as it is structured as a corporation today, Moody’s sharply cut the UK-based oil companies…
Tony Hayward of BP plc (NYSE: BP) was not in the “loop” about the Deepwater Horizon rig and any problems at the drill site. He says that his company has thousands of wells. and…
Sony (NYSE: SNE) CEO Sir Howard Stringer spends his time jet setting among his offices and homes in Tokyo, New York, and his native Wales. Sony has lost money two years in a row…
Alan Greenspan still occasionally shows up on the global stage to sell a new book or defend his legacy as Fed chairman. He must find it irritating that his predecessor Paul Volcker has become…
Toyota Motor (NYSE: TM) has been hit by labor strikes in China. The Toyoda Gosei Co. plant in the northern city of Tianjin is owned 42% by Toyota along with a local partner. The…
Reuters: A plan to isolate swaps from bank deposit assets will be in the financial reform bill. Reuters: The Volcker rule would prevent mergers among large banks. Reuters: Facebook’s 2009 revenue was close to…
Research group J.D.Power came out with its Initial Quality Study for cars, small trucks and SUVs. The survey ranks vehicles by number of problems per hundred vehicles. This year, the average number of problems…
S&P lowered it long- and short-term corporate credit ratings on BP to ‘A/A-1’ from ‘AA-/A-1+’ and kept the firm on CreditWatch negative. The ongoing CreditWatch placement reflects S&P’s view regarding the continued uncertainties affecting…
Results from the Philadelphia Federal Reserve show business activity in the region is slowing, a sign the economic recovery has already begun to burn out. The June “Business Outlook” data indicated that “Regional manufacturing…