Greek Unemployment Moves to 25.1%
Greece has joined Spain as one of the only two countries in the European Union with an unemployment rate above 25%. The new figure — 25.1% — coupled with a gross domestic product decline that…
All Work
Douglas A. McIntyre
Lenovo Passes HP in Global PC Share
Not much more could go wrong for Hewlett-Packard Co. (NYSE: HPQ). Its shares are at multiyear lows. Its new CEO and savior Meg Whitman says it will be dozens of quarters before the company…
Today’s Best Market Rumors (10/10/2012)
Updated throughout the day on the 24/7 Wall St. Wire: The FTC is investigating Google Inc.’s (NASDAQ: GOOG) use of patents it acquired to sue other companies over intellectual property. (NYT) Facebook Inc. (NASDAQ:…
What’s Important in the Financial World (10/10/2012)
Ballmer and Microsoft’s Future Much of the recent discussion about Microsoft Corp. (NASDAQ: MSFT) has centered around the cut in CEO Steve Ballmer’s bonus, which to some extent was due to ongoing losses in…
Toyota’s 7.43 Million Car Recall — No Harm, No Foul
Toyota Motor Corp. (NYSE: TM) recalled 7.43 million vehicles worldwide today for what its said were power window switches that could cause fires. Toyota said that there had been none of these fires as far as it…
Yum! Brands and the U.S.-China Earnings Balance
Based on its latest earnings, Yum! Brands Inc. (NYSE: YUM) did well in the United States and China, its big growth markets. Or, China is a problem because growth has slowed there. The Yum! Brands…
IMF Worries About Europe
International Monetary FundLike nearly every other organization, economist and investor, the International Monetary Fund voiced concern about Europe in its new analysis. According to its Global Financial Stability Report: Risks to global financial stability…
Media Digest (10/10/2012) Reuters, WSJ, NYT, FT, Bloomberg
The BAE merger with EADS faces more trouble from nations and shareholders. (Reuters) The International Monetary Fund points to the eurozone crisis as the most likely cause of a worldwide slowdown. (Reuters) The House…
Toyota Recalls 7.43 Million Cars
From MarketWatch: Toyota Motor Corp. said Wednesday it is recalling 7.43 million vehicles globally due to a potential fire risk with power window switches, including 2.47 million vehicles sold in the U.S. The recall…
What’s Important in the Financial World (10/9/2012)
Merkel’s Chilly Welcome in Greece Germany’s Angela Merkel did not get a warm welcome as she traveled to Greece. More than any other nation, Germany has pressed austerity measures there and threatened to withhold aid.…
IMF Report Means Doom for EU Austerity Role
International Monetary FundMost readers of the International Monetary Fund’s October World Economic Outlook naturally will turn to forecasts on Europe’s growth, or lack thereof, this year and in 2013. One of the things that stands…
Media Digest (10/9/2012) Reuters, WSJ, NYT, FT, Bloomberg
Many finance ministers in Europe believe that Spain can avoid a bailout. (Reuters) Amazon.com Inc. (NASDAQ: AMZN) uses a pay-per-performance deal to help it secure premium content. (Reuters) Cities such as Seattle and Houston…
Another Blow to Car Sales in Europe
While most of the car industry’s attention has been turned to the drop in Japanese car sales in China, there is increasing evidence that manufacturers that do business in Europe will suffer very long-term effects…
One in Eight Worldwide Undernourished — Another Problem with No Solution
Wikimedia Commons / Creative CommonsThe Food and Agriculture Organization of the United Nations, along with the International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP), issued the State of Food Insecurity in…
IMF Slashes Global Growth Forecasts
International Monetary FundThe recession is here, is about to be here, or has already been here for some time, according to the new IMF World Economic Outlook. The documents covers forecasts for 2012 and…
Moody’s Gives European Stability Mechanism Rating of Aaa/Prime-1
Moody’s Investors Service assigned a long-term issuer rating of Aaa and a short-term issuer rating of Prime-1 to the European Stability Mechanism (ESM). The outlook is negative, the ratings service said: The Aaa/Prime-1 ratings…
What’s Important in the Financial World (10/8/2012)
A Single Eurozone Budget A consensus has begun to emerge that there be one budget for the entire eurozone. The region’s finance ministers will meet shortly. However, it is difficult to imagine why Germany,…
California’s Jerry Brown and a Solution to Gas Prices
Governors and state legislatures across the country may want to take a page from the Jerry Brown playbook to bring down gasoline prices. In his state of California, regular gas sells for more than…
Foxconn and U.S. Labor History
Workers at a manufacturing facility of China’s Foxconn “struck” the company twice over the weekend, or once, or not at all, depending on the source of the information. Most likely, two labor disruptions occurred. The media gave…
More Downgrades of World GDP, with U.S. as a Bright Spot
The World Bank has just announced it expects a signficant slowing of GDP growth in East Asia and the South Pacific regions. Its analysts reported that the drop could be “a full percentage point from…