According to the federal government’s Deepwater Horizon Response team, scientists now put the rate of the leak as high as 40,000 barrels a day. BP plc (NYSE: BP) recently estimated it was capturing 15,000…
Florida State Attorney General Bill McCollum has requested that BP plc put $2.5 billion in escrow to cover claims arising from the Deepwater Horizon oil spill. He must have learned his “showboating” techniques from…
There were strong losses in three Tickerspy indexes over the most recent 30-day period. This month’s biggest fallers are in surety and title insurance stocks, homebuilder stocks, and movie production and theater stocks. Surety…
Household net worth rose by $1.1 billion in the first quarter to $54.4 trillion according to The Federal Reserve, driven to some extend by rising stock prices and a desire by consumers to pay…
The Congressional Oversight Panel issued a report today which says that the Federal Reserve and Treasury Department did a poor job of rescuing American International Group (NYSE: AIG), which put $160 billion in taxpayer…
The Semiconductor Industry Association reports that it expects chip sales to surge by almost 30% this year, with global revenue reaching $291 billion. Its projections for growth in 2011 and 2012 are much lower,…
By John Tamny of Forbes Whatever the truth about the theory of global warming, individuals aren’t born with a desire to protect the environment as much as their wealth affords them the time to…
Updated throughout the day. 2:00 PM Update: Rumors that ARM Holdings plc (NASDAQ: ARMH) is being thwarted after Davidson downgraded the stock were being unfounded… Shares are now only up 5% at $12.30 after…
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…
Herman Van Rompuy, the EC President, said the current $1 trillion rescue package may not be th end of financial support for the region. He told Belgian magazine Trends-Tendances It is a certainty: the…
In a classic, “hear no evil, see no evil, speak not evil”, that BP management says it sees not reason for a 16% drop in its stock prices yesterday. The mention by Obama that…
The Congressional Oversight Panel attacked the Treasury for two aspects of its bailout of American International Group (NYSE: AIG): “By providing a complete rescue that called for no shared sacrifice among AIG’s creditors, the…
America’s upper class has begun to return to the free spending ways that characterized their behavior prior to the recession. This may be because the percentage of people unemployed among the well-to-due lagged the…
The China of Tiananmen Square has not entirely disappeared. The central government is still willing to assert control, often brutally. Last year, riots in the interior, based on a push by factory workers to…
The foreclosure rate in the US is not getting any worse, but unfortunately, it is not getting any better. According to RealtyTrac, May foreclosures were 322,920. That number was a 3% drop from April…
This year it takes 86.4 million barrels a day of oil to quench the planet’s growing energy needs, an increase of 60,000, according to a forecast by the International Energy Agency. The projection, which…
Germany’s Chancellor Angela Merkel seems keen on asserting her nation’s political and financial power in the EU, or she wants to see the region’s $1 trillion rescue package fail. In a surprising statement, Merkel…
Reuters: Volcker is optimistic about a good financial reform bill. Reuters: BP plc (NYSE: BP) shares dropped on concerns about financial viability. Reuters: China exports rose, putting the yuan issue center stage. Reuters: AT&T…
Gawker reported that a security breach of data from Apple (NASDAQ: AAPL) iPad users whose wireless service with AT&T (NYSE: T) exposed 114,000 email addresses. AT&T’s bumbling about the matter brought the following response:…
Ben Bernanke’s testimony before the Committee on the Budget of the U.S. House of Representatives was mostly predictable. He talked about the steady improvement in the American economy and predicted that GDP would be…