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…
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…
With government estimates for daily oil leakage upped to as much as 40,000 barrels a day and BP plc (NYSE: BP) claims only capturing about 15,000 barrels, the rush to drill relief wells has…
VW wants to be the world’s No.1 car company, and may reach that goal through its merger with Porsche. The top spot has changed hands in the last two years moving from troubled GM…
BP Chairman Carl-Henric Svanberg has been asked to meet with President Obama on June 16, and he will accept the invitation. Many critics have maintained that Svanberg has remained aloof from the problems in…
Japan could be the next Greece, at least according to its new prime minister who use to be the nation’s finance minister. “It is difficult to sustain a policy that relies too heavily on…
Michael Dell, founder of Dell Inc. (NASDAQ: DELL), will not go to jail for his own misdeeds of those of his company. It appears that the tech firm will dodge a bullet because of…
If an American president lost control over his own international economic policy, he would be humiliated and emasculated. Congress is on the brink of taking over the negotiations about the Chinese yuan’s value out…
Inflation in China rose 3.1% in May, higher than the government had forecast. Consumer prices were up 6.1% and wholesale prices rose 7.1% The numbers raised the issue of whether China’s predicted 11% to…
Reuters: The US is stepping up the pressure on BP plc (NYSE: BP) as the government doubles spill estimates. Reuters: Geithner says US patience on the yuan is disappearing. Reuters: China factory output and…
Less than 20 months ago, American Airlines (AMR) was the largest airline in the world competing against five smaller and weaker US legacy carriers. Following is a detailed summary of where the legacy/network carriers…