Faced with unrelenting pressure to show that it can fix the Deepwater Horizon rig wreck oil leak, BP plc (NYSE: BP) has written Rear Admiral James Watson of the Coast Guard outlining aggressive plans…
The House Committee on Energy and Commerce has sent a letter to BP plc (NYSE: BP) CEO Tony Hayward questioning the actions of the company and some of its employees before the explosion on…
Starbucks (NASDAQ: SBUX), following in the footsteps of McDonald’s (NYSE: MCD) and most small municipal libraries, will begin to offer free WiFi beginning July 1. No reason for the delay was given.
Moody’s downgraded Greek debt to junk. Moody’s Investors Service has today downgraded Greece’s government bond ratings by four notches to Ba1 from A3, reflecting its view of the country’s medium-term credit fundamentals. Today’s rating…
Amazon.com (NASDAQ: AMZN) is by a number of measures the most visited retail site in the US, the most successful e-commerce company in the world, and the online retailer with the biggest selection of…
Apple Inc. (NASDAQ: AAPL) will sell its new iPhone in its own retail stores and in Walmart (NYSE: WMT). The should allow the handset and consumer electronics company will have the iPhone available nearly…
The Reuters/University of Michigan sentiment index rose last Friday that consumer confidence grew to 75.5. The figure was better than most forecasts. The news caused a sharp market rally, but the U Mich numbers…
By Benjamin Carlson of The Atlantic Wire President Obama makes his fourth visit to the Gulf this week, and on Tuesday he will give a national prime-time address about the oil spill. As the…
In the face of a stagnant US job market, falling real estate prices in America, and an unprecedented crisis in Europe which could cause huge losses for regional banks, St Louis Fed Chief Jame…
Updated throughout the day. KKR may sign a deal to buy Japanese recruitment services firm Intelligence Ltd (WSJ) UBS has handed over 500 private accounts to US authorities. (Sonntag) The Weinsteins may make another…
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…