Mixed Messages: Administration Asks For More Stimulus
It was only last week that Treasury Secretary Tim Geithner said that the US economy was strong enough to weather the threat of a slowdown in Europe. That seemed improbable because of the size…
All Work
Douglas A. McIntyre
Are $50 Billion In Budget Cuts By EU Members Too Little?
Many EU nations have disclosed plans for budget cuts as part of the trend toward austerity that has swept the region. The frugality is understandable. In the eyes of the world, Europe has gone…
Markets Collapse Across Asia And Europe
Concerns about finances in the Eurozone, a further sell-off of the euro, and worries about a new war on the Korean peninsula drove down stocks across Asia. Indices in China and Japan were down…
“Wall Street Reform: A Viewer’s Guide to the Debate”
Well, the Senate finally voted last week, and from the headlines one might think it’s all over but the shouting and signing. Certainly that’s what the President implied when he said in his remarks…
Media Digest 5/25/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Stocks around the world continue to fall on euro concerns. Reuters: The bailout of Spanish banks is not over. Reuters: S&P says a “herd” mentality could drive European stocks down. Reuters: The IMF…
Americans Walk Away From Driving
The economy has gotten markedly better over the last year, but the driving habits of Americans don’t reflect that. It may be because gas prices began to move up in the last few months,…
Intel Cornerstone To Expensive Ultra-Fast Notebooks
It is not certain that consumers and businesses want faster and faster PCs, especially notebooks which are often used for simple e-mail and web surfing, tasks which can also be done on most smartphones.…
BP plc To Change Name To British Petroleum, Release New Logo (Update)
BP plc (NYSE: BP) will change its name to British Petroleum in a desperate attempt to slip the public’s growing negative opinion of the company. The oil firm has spent nearly a decade building…
Oil Spill Widens, BP Response Continues to Lag
Shoreline assessments and overflights continued today as planned. As anticipated, areas of oil moved closer to the Chandeleur Islands today. With winds forecast from the north, this will tend to push the oil away…
Existing Home Sales Power Higher In April, Won’t Last
Adding to the mixed results on the US real estate market, the National Association of Realtors said existing home moved sharply higher in April. But, the numbers were almost certainly an aberration. “Existing-home sales,…
Today’s Best Market Rumors (5/24/2010)
Updated throughout the day. CBS (NYSE: CBS) and Disney’s (NYSE: DIS) ABC may be sold (NYPost). Barclay’s (NYSE: BCS) Private Equity may be spun out. (Reuters) John Hyman, formerly of Morgan Stanly Group (NYSE:…
The Twitter-24/7 Wall St. Stock Market Report 5.24 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…
BP “Doesn’t Know What It Is Doing”
The US government has readily admitted that it does not have the skill of equipment to stop the oil rising from the wreck of the Deepwater Horizon rig. And, it is beginning to question…
The $123 Billion Tab For Job And Tax Bill
The bill known as H.R. 4213, The American Jobs and Closing Tax Loopholes Act, may clear Congress in the next few days. It would extend eligibility for unemployment insurance benefits, COBRA health care tax…
US Companies Face Debt Crisis As Spreads Widen
Corporate bond sales this month will be the worst since 1999. According to Bloomberg, they will only hit $47 billion, down from $183 billion in April. The borrowing machine that has allowed US corporations…
China: More Double Talk On The Yuan
One of the primary reasons that a delegation led by Treasury Secretary Tim Geithner and Secretary of State Hillary Clinton is in China this week is to discuss fair trade. That means the value…
Media Digest 5/24/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: China avoided a commitment on the yuan’s value during talks with the US. Reuters: A Senate committee will look at the UAL (NASDAQ: UAUA) merger with Continental (NYSE: CAL). Reuters: Geithner pushed the…
24/7 Wall St.’s Corporate Power Rankings: Week 19
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…
Loop Catches Oil Spill
The NOAA reported that several overflights were conducted today to help researchers forecast the trajectory of the oil spill over the next 72 hours. On one flight, a significant amount of oil was observed…
“Regressive Terminations”: UK May Fire 300,000
The UK government could fire 300,000 people and the number may rise to 700,000, according to the Times of London. The nation has an estimated £156 billion budget deficit. Governments in Greece, Spain, and…