6 Reasons We Can’t Fix The Oil Spill
By Max Fisher of The Atlantic Wire The much-vaunted “top kill” attempt to stop the worst oil spill in U.S. history has failed, adding yet another failure to the joint BP and U.S. mission…
All Work
Douglas A. McIntyre
BP Isn’t Obama’s Crisis, Katrina Shouldn’t Have Been Bush’s
By John Tamny of Forbes It doesn’t require a law degree to understand that all the bashing of President Obama over BP, much like President Bush was criticized for Hurricane Katrina, is a peversion of the Constitution…
Today’s Best Market Rumors (6/1/2010)
Update throughout the day. Radio Shack (NYSE: RSK) is for sale and the top bidder is Blackstone Group (NYSE: BSX) (NYPost). Several large banks in Spain are about to merge (various) Bilfinger Berger, the…
The Twitter-24/7 Wall St. Stock Market Report 5.28.2010 The Wisdom Of Crowds?
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…
National Employee Morale Day At Hewlett-Packard
Hewlett-Packard (NYSE: HPQ), one of the world’s largest tech companies, will lay-off 9,000 people as it tries to boost the productivity of its biggest unit–enterprise services. The operations is about 25% of HP’s revenue and about…
China Growth Slows Now, And Europe May Worse Trend
The two primary signs of China’s manufacturing expansion showed weakness in May. The China Federation of Logistics and Purchasing managers index dropped to 53.9 last month compared with 55.7 in April. The HSBC China…
Ford’s Big China Recall
Ford Motor (NYSE: F) has announced that it will recall 236,642 Focus cars in China, one of the largest in the history of the People’s Republic. China is now the world’s largest vehicle market,…
Europes Banks, Headed For Trouble, Represent Systemic Risk
The ECB issued its semi-annual Financial Stability Review over the weekend. The central bank warned that “With pressure on governments to consolidate their balance sheets, disengagement from financial sector intervention means that banks will…
BP plc (BP) Shares Plunge 13%
Shares of BP plc (NYSE: BP) fell as much as 13% in Europe, their largest drop in 18 years, on news that the company’s “top kill” effort had failed and the relief wells to…
Media Digest 6/1/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
MarketWatch: BP plc (NYSE: BP) opened down 12% after top kill failed. Reuters: American International Group (NYSE: AIG) turned down a deal from Prudential plc to cut the price of AIA. Reuters: The ECB…
24/7 Wall St.’s Corporate Power Rankings: Week 20
The 24/7 Wall Street Corporate Power Rankings of the thirty-two most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and…
Apple iPad Sales Rocket Above Two Million, Revenue Could Be $1.2 Billion
Apple, Inc. (NASDAQ: AAPL) announced that sales of its iPad tablet have gone above tw0 million less than 60 days after the product was launched on April 3. Late last week, the company released…
NOAA Shows Spill Moves Deeper In Gulf And Toward Florida
New maps from the NOAA show the spill from the Deepwater Horizon spreading toward Cuba and the southern tip of Florida. The leak has now been pumping roughly 15,000 barrels of crude into the…
Bank Failures Hit 78
Bank failures hit 78 on Friday putting them on a course that could that will take them over 200 in 2010. Sun West Bank, Las Vegas, NV Granite Community Bank, NA, Granite Bay, CA,…
Oil Spill Spreads Rapidly After “Top Kill” Fails
The surface size of the Deepwater Horizon spill is expanding rapidly as news came out that the “top kill” attempt by BP plc (NYSE: BP) has failed and the company will try alternatives to…
BP Kills Top Kill
BP plc’s (NYSE: NBP) plan to pump heavy mud into the leak caused by the Deepwater Horizon disaster, known as “top kill” appears to have failed. The oil company had hoped that the project,…
Signs Of The Apocalypse: Fitch Downgrades Spain
Just in time for the US three-day Memorial Day weekend, Fitch has downgraded Spain’s long-term foreign and local currency issuer default ratings to AA+ from AAA. The news wrecked the American market pushing down…
Toys ‘R’ Us: Flat Revenue, Bad IPO
Toys “R” Us has filed its S-1 with the SEC as it prepares its IPO. The retailer plans to raise $800 million. The company has been private for half a decade. It’s time to…
Network TV Ad Sales Stronger Than Expected (CBS, NWS, DIS, GE)
The broadcast TV networks’ dog-and-pony show known as the “upfront market” has gotten off to a good start this year. Advertisers get to see the coming season’s new TV shows and then mull over…
Today’s Best Market Rumors 5/28/2010
Updated throughout the day. A group led by Centerbridge Partners has won the bidding for Extended Stay (NYTimes) The Walt Disney Co (NYSE: DIS) may not be able to find a buyer for ABC …