Goldman Sachs Group Inc (NYSE: GS) was warned about pending charges against it as early as nine months before the SEC charges were brought. SEC rules apparently do not require a public company to disclose the…
The FDIC announced the details of eight more bank closings, bringing the 2010 total to forty-eight. The current pace would put total bank failures to nearly 200 this year. Those shuttered include City Bank, Lynnwood,…
By Fu Tao and Feng Zhe, Caixin Minimum down payments for second homes increased to 50 percent, as part of an aggressive policy to counter overheating in the property market Read more….
As news of the SEC complaint filed against Goldman Sachs (NYSE: GS) is pushing everything else off the news feeds, this morning’s purchase of drug software company by Oracle Corp. (NASDAQ: ORCL) of Phase…
From the IATA (International Air Transport Association), an estimate of what the Iceland volcano is costing the airline industry per day–$200 million. The IATA represents 220 airlines comprising 93% of scheduled international air traffic. Bloomberg…
Ford Motor Co. (NYSE: F) is crowing this morning. The company claimed that it is the leader in European sales for the month of March, displacing Volkswagen AG for the top spot. Ford sold…
Updated throughout the day. Goldman Sachs Group (NYSE : GS) Rajat K. Gupta, who is being investigated for insider trading, will not stand for re-election to the board. (WSJ) Symphony Asset Management and Bank of America Corporation (NYSE:…
Based on early pre-market trading, Bank of America Corporation’s (NYSE BAC) failed to impress, although the number beat Wall St. estimates. It may be that the results of JPMorgan Chase (NYSE:JPM) set the bar too…
George Papandreou, the besieged prime minister of Greece, told his parliament that the southern European nation is not bankrupt though the IMF may have to join Eurozone nations in a bailout. According to Reuters, Papandreou said…
Consumer Reports’ monopoly on auto testing remains largely unquestioned. Recently, the magazine found that the Lexus 460 rolls over. In years past, it has found problems with Jeeps and Firestone tires. The question is…
Mortgages rates fell to 5.07% last week for 30 year fixed loans. That cuts against the theory that the Treasury auctions will push up rates and that the Fed’s decision to stop the purchase…
The recession nearly ruined the video game business, pushing some publishers such as Take-Two Interactive (NASDAQ: TTWO) to the financial brink. Even Electronic Arts (NASDAQ:ERTS) reported huge losses and laid off more than 10%…
It has only been a month since German Chancellor Angela Merkel suggested that the Eurozone needed a way to eject companies from the alliance if they persistently broke its financial rules. Greece was at the…
Reuters: The Fed backed “extending language” on rates. Reuters: About 60% CDS could be cleared centrally according to experts. Reuters: Bank of America Corporation (NYSE: BAC) and Symphony will link up on a new…
During the first quarter of 2010, Rio Tinto plc (NYSE:RTP) boosted production of iron ore by 39% compared with the same period last year. The primary driver, as expected, is China, where the still-booming economy can’t…
By Heather Horn The New York Times’ David Herszenhorn and Sewell Chan say the financial reform fight is already “echoing” the epic battle over health care. Senator Mitch McConnell recently gave a speech claiming…
The IRS publishes a review of what the 400 people with the highest adjusted gross income in America pay in taxes each year. The most recent report covers the period from 1992 to 2007. The top 400 made…
Updated throughout the day. The Carlyle Group is trying to sell United Components and hired Goldman Sachs to help find a buyer for the auto-parts firm. (Bloomberg) Prosecutors may be looking into whether a Goldman…
Twitter has, by most estimates, 75 million visitors a month, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than…