Unemployment, as measured by Gallup ,indicates no improvement in joblessness in May, a bad sign for the government unemployment numbers to be released this Friday. The research firm says that its unemployment rate (not seasonally…
Apple’s (NASDAQ: AAPL) Steve Jobs says his company will not take on Google (NASDAQ: GOOG) in the search business. The Apple App Store , however, already competes against Google in cellphones, mobile advertising and…
Pontiac is gone now. So is Saturn, and in effect Hummer. Ford Motor (NYSE: F) announced that it would fad out Mercury, a brand created by Henry Ford’s son Edsel. Car makers are deciding…
Wall St. is starting to consider what the Gulf disaster will cost BP plc NYSE: BP) both in legal and liability costs and clean-up expenses. Some scientists believe that the leak cannot be capped…
Skype, the pioneering VoIP company, says people have downloaded five million of its apps on Apple (NASDAQ: AAPL) iPhones. Skype means to leverage its new universe of 3G users by charging them to make…
Reuters: G20 nations have no agreement on a bank levy. Reuters: Buffett’s testimony before the Financial Crisis Inquiry Commission did little to change members’ views of the ratings agencies. Reuter: Facebook’s CEO has not…
Ford will end production of Mercury vehicles in the fourth quarter of this year to further grow its core Ford and Lincoln brands, according to Ford Motor (NYSE: F) Existing Mercury owners to receive…
A former employee of Moody’s testified before The Financial Crisis Inquiry Commission that he felt pressure from his superiors to improve market share for the company. That caused him and other employees of Moody’s to…
Pending home sales rose again in April. But, the trend likely reversed itself in May. The housing market improvement may simply be a mirage. The National Association of Realtors reported: The Pending Home Sales…
Updated throughout the day. The SEC is seeking to bar banker Steven Rattner from the securities industry. (NYTimes) Prudential plc may be a takeover target after its failed bid to buy AIA from American…
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…
It is a legal practice, although perhaps not a principle, that someone or some entity, is at fault when something goes wrong. This extends from medical malpractice to car recalls to man-made disasters. The result…
There have been an extraordinary number of suicides at Chinese electronics company Foxconn which does a great deal of work for Apple Inc. (NASDAQ: AAPL). Foxconn recently raised salaries by 30%n which may address some of…
Airline mergers always bring labor unrest. One of the purposes of industry marriages is to cut costs, and that almost always involves firing workers. The most important tool that airline workers have in the…
A new FCC study shows that 4 out of 5 Americans do not know the connection speed of the broadband service in their homes. The FCC announced last week that subscriber rules for wireless…
Reuters: The prime minister of Japan resigned. Reuters: American International Group (NYSE: AIG) may have an IPO for AIA. Reuters: Apple Inc.s (NASDAQ: AAPL) Steve Jobs finds suicides at Foxconn disturbing. Reuters: The US…
The official retirement age for executives at many large U.S. corporations has been 65 for several decades – unless the executive also happens to be the founder. Forty years ago, 65 was considered old.…
The causes of the global financial crisis of 2008 were almost entirely flaws in the credit system based on leverage, exotic financial instruments, and a sharp drop in American housing prices. Just as that…
Last week, USEC Inc. (NYSE:USU) announced a $200 million investment from Toshiba Corp. and Babcock & Wilcox that would be spread out over three phases. Each of the investors will pitch in $100 million,…
Prices for crude oil fell below $74/b this morning as crude oil continues wobbling downward after hitting a high of around $87/b in early May. Conflicting signals from the Middle East contribute to the…