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 value of the euro moved above $1.22, an indication that markets have a bit of optimism about EU prospects. The numbers helped cause a rally in Europe’s markets and uptick in US futures.…
China’s rapacious appetite for energy could still drive up global prices for crude and coal. China.org reports that China’s May electricity consumption growth slowed from April despite a year-on-year increase of 20.8 percent, indicated…
BP plc (NYSE: BP) says its cost for the Deepwater Horizon disaster hit $1.6 billion this weekend. More than 51,000 people, organizations or states have made claims against the company. It is finally appearing…
Petrobras, the huge oil firm controlled by the Brazilian government, plans to raise $25 billion in the capital markets–one of the largest share offerings in history. The money will go to support the cost…
The cost of the bailouts of Freddie Mac (NYSE: FRE) and Fannie Mae (FNM) could rise as high as $1 trillion, according to Bloomberg. Even the most modest projections call for the price tag…
International banks headquartered in the Eurozone have $727 billion in exposure to debt from Greece, Spain, Portugal, and Ireland. The is 62% of the exposure to banks worldwide, according to a study by the…
Reuters: Obama’s leadership will be tested this week by his reaction to BP plc (NYSE: BP) spill. Reuters: Jobs are critical to the housing recovery. Reuters: China’s AgBank will attempt a $23 billion IPO.
Honda Motors (NYSE: HMC) is using good old-fashioned management tactics to overcome strikes that have shut some of its plants and related parts operations in China. The Japanese company agreed to improve wages in…
The NOAA reports that winds are likely to push oil ashore for most of next week, affecting the Gulf Coast from West of New Orleans to the Florida Panhandle. Onshore (SE/S/SW) winds are forecast…
China has elected to play a game of chicken with members of Congress on the issue of revaluing the yuan. Several members of the House and Senate have told the Administration that if it…
The US government has sent a sharply worded letter to BP plc (NYSE: BP) about the pace at which it needs to cap the oil spill from the Deepwater Horizon wreck. Coast Guard Rear…
Warren Buffett’s annual auction, the prize of which is to have lunch with the Oracle of Omaha, sold for $2.63 million on Ebay (NASDAQ: EBAY). According to Reuters, “Proceeds benefit the Glide Foundation, a…
The Treasury Department reported that in May TARP repayments to taxpayers have, for the first time, surpassed the total amount of TARP funds outstanding. “Treasury’s report showed that, through the end of the May,…
After fumbling around in the feature phone business for the past couple of years, Motorola Inc. (NYSE:MOT) is now struggling with something else — success. Its Droid phone, which uses the Android operating system…
GM is likely to go public within the next three quarters, particularly if the economy avoids a double dip recession. The rumor is that JPMorgan Chase (NYSE: JPM) and Morgan Stanley (NYSE: MS) will…
Over the last eight months, Johnson & Johnson (NYSE: JNJ) has recalled four popular over-the-counter products. The latest recall was announced in April for Tylenol, Motrin, Benadryl, and Zyrtec made for infants and children.…
The U.S. Census Bureau announced that advance estimates of U.S. retail and food services sales for May, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $362.5 billion,…
Updated throughout the day. BP plc (NYSE: BP) may cut or defer its dividend (various) Spain may have asked the EU for financial aid (various) The FBI is preparing a huge clamp down on…