The FDIC total bank closures hit 73 on Friday. Pinehurst Bank, St. Paul, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation as receive. According to…
The size of the BP plc (NYSE: BP Deepwater Horizon spill is growing rapidly, as some scientists estimate the leak at 95,000 barrels a day instead of the 5,000 barrels estimate given by BP…
The cost of saving the global financial markets and credit system has come down again. The government’s estimate of the loss on the TARP has dropped $11.4 billion. According to The Treasury Department, “it…
Norway’s Statoil ASA (NYSE: STO) has agreed to sell a 40% stake in its deepwater Peregrino field offshore Brazil to China’s Sinochem Group for $3.07 billion. Statoil retains its 60% share and will be…
Update throughout the day. The head of global markets for UBS in Asia is leaving. IFR “Citigroup sold a series of mortgage-linked securities without disclosing that Morgan Stanley helped shape them while betting they…
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…
For the first time in 16 years, the US is not the most competitive nation in the world. The IMD World Competitiveness Center, which measures 58 economies put Singapore and Hong Kong ahead of…
The DJIA is heading back to 10,000 and it may not take long to get there. The index moved into “correction” territory yesterday, down 10% from its peak. Another 1,ooo points and it will…
The FCC may try to undo what the free markets have done according to its annual report. It argues that the concentration in the wireless market is rising quickly, perhaps too quickly.
Somewhere among all of those hundreds of billions of dollars in budgets from Greece, Ireland, the US, Spain, and Portugal, wasteful spending is hiding. Or, perhaps it is money that is “essential” to the…
There is a wild divergence in the estimates of oil leaking from the Deepwater Horizon rig disaster. The NOAA and BP plc (NYSE: BP) estimates continue to be at 5,000 barrels a day. BP…
The FDIC Quarterly Banking Profit reports that industry net income rose to a two-year high of $18 billion. While that seems like a large number, it is spread across almost 8,000 banks. The figure…
Reuters: Shares in Europe plunged Reuters: Oil hit the shores of Louisiana Reuters: The EU faces scrutiny over whether its austerity measure will be adequate. Reuters: The euro moved up in a short covering…
Since 2002, Greenland has issued 13 licenses to explore its onshore and offshore areas for oil and gas. Among the licensees are Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), Encana Corp. (NYSE:…
High unemployment, lack of credit availability for small businesses and consumers, and slow wage growth may have caught up to an American economy which has been on the mend since late 2009. The Conference…
From 24/7 Wall St. partner Investor Place Back in our February Apple iPad survey report we found “The pre-launch demand for the new iPad is greater than the pre-launch demand for the original iPhone.”…
Florida will probably not be spared. Currents will take crude from the Deepwater Horizon spill within the next few days. According to the NOAA The NOAA’s latest observations indicate that a small part of…
Updated throughout the day. Update after 9AM: TTI Team Telecom International Ltd. (NASDAQ: TTIL) is trading up after confirming buyout talks per media reports. No deal has been reached yet, and shares are up…
By John Tamny of Forbes Market commentators are pointing to the dollar’s surge against other paper currencies, quiescent producer prices, looming government austerity in Europe, and “asset deflation” as signals of the monetary phenomenon…
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…