It is a time-honored tradition within the retail industry. When sales drop, so do prices. Of course, not all retailers can afford that. As the holiday season in 2008 showed, many stores simply close…
The price at which real estate is dropping may have slowed, but that is not helping the ultra-rich to stay in their homes. A study commissioned by The Wall Street Journal and carried out…
The FT reports that Goldman Sachs (GS) and Morgan Stanley (MS) both predict that oil prices could move to $10o per barrel in 2011. Jeff Rubin, a former CIBC chief economist says: “Triple-digit oil prices…
Reuters: The Fed once again pledged low interest rates. Reuters: If the yuan rises, the euro may be badly hurt. Reuters: Soda companies are hurt by the economy according to AlixPartners. Reuters: March retail…
Home sales and home prices are supposed to improve in the spring despite the fact that government programs to encourage purchases will go away. Defaults must fall to fuel the recovery. If they do…
Jean-Claude Trichet, president of the European Central Bank, an agency with almost no power, said that Greece will not default on its debts. It was as if there is some magic in his words that…
About 40% of US electricity is generated by burning natural gas. Another roughly 30% comes from burning coal and about 10% is generated by nuclear fission. Wind-generated power accounts for 1.8% of all US…
Today, Google gets over 9.5 billion searches per month in the United States. Although search engines such as Microsoft’s Bing compete for a share of the market, they present no real threat to Google’s…
The capital markets are already suspicious that Greece will not be able to close a bond support deal with other eurozone countries and the IMF. Ratings agency Fitch told Greece that it needed a transaction…
By staff reporter Xu Ming, Caixin Five Chinese power companies have submitted a joint application to regulatory authorities to offset thinning profits from tighter energy supplies
By Jake Simpson The latest financial news from the beleaguered auto industry appears grim at first glance. Hampered by a $2.6 billion payment to its union, General Motors reported a $4.3 billion loss in…
Updated throughout the day. A senior member of a Goldman Sachs (GS) large hedge fund left the firm (Bloomberg) Zale is being pursued by three private equity operations which include TPG, Golden Gate Capital,…
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…
Being young has its advantages, but apparently being employed is not one of those. A new study from the Economic Policy Institute shows that people between 16 and 24 years old are 13.5% of…
Ben Bernanke has seen the future and it is filled with an American debt balloon the size of which the world has never seen. The federal government will run out of money for Social Security…
Consumer borrowing dropped in February by 5.6% to an annual rate of $2.45 trillion, according to the Federal Reserve. Revolving credit, a good proxy for credit card debt, dropped by 13.1%. Nearly everyone who looked…
A merger between United Air (UAUA) and US Airway (LCC), which was recently rumored, would not create much of carrier compared to the BA merger with Iberia which was completed today. The new operation will be…
The smoking gun inside Toyota (TM) has been found. An executive warned his colleagues in the US that cars made by the Japanese company had severe defects. the warning came weeks before the world’s…
The safest sovereign debt investment in the world is Norway’s bonds. Finland, Germany, and Sweden also receive good ratings in the latest version of the CMA Sovereign Debt Report for the first quarter. CMA…
Reuters: British Air and Iberia signed a merger deal. Reuters: US Airways (LCC) and United (UAUA) are in merger talks. Reuters: A Toyota (TM) executive warned about defects in January. Reuters: Geithner will meet…