Barclay’s Appoints CEO
Barclays PLC (NYSE: BCS) did not take long to appoint a new chief executive. The CEO is Antony Jenkins. He ran the retail part of the financial firm, so he was far from the…
All Work
Douglas A. McIntyre
Moody’s Downgrades the Global Economy
A bit late compared to other research groups and agencies that track the global economy, Moody’s has added significantly to its reasons for a likely slowdown in the growth of the G20 nations and has said emerging markets are…
The Windows Mobile Experiment Begins
Analysts who watch the smartphone market will not have to wait for the legal battle between Apple Inc. (NASDAQ: AAPL) and Samsung to advance any further before judging the future of the Microsoft Corp. (NASDAQ:…
Would the French Employment Plan Work in the U.S.?
Francois Hollande, the president of France, wants his government to spend roughly $2.5 billion to create 150,000 jobs in 2012 and 2013. The details of the program are complex. The central government would subsidize the hiring of young…
What’s Important in the Financial World (8/30/2012)
Barclays’ Brave New CEO Barclays PLC (NYSE: BCS) did not take long to appoint a new chief executive. The CEO is Antony Jenkins. He ran the retail part of the financial firm, so he…
Media Digest (8/30/2012) Reuters, WSJ, NYT, FT, Bloomberg
Moody’s cuts its growth forecast for emerging economies. (MarketWatch) Antony Jenkins, who runs Barclays PLC’s (NYSE: BCS) retail business, is made chief executive. (Reuters) Samsung launches new Microsoft Corp. (NASDAQ: MSFT) Windows-based mobile phone.…
Sears Ousted from S&P 500
Troubled retailer Sears Holdings (NASDAQ: SHLD), which was formed by a 2005 merger of Sears and Kmart, was thrown out of the S&P 500 as of September 4. It will be replaced by specialty chemical company LyondellBasell (NYSE: LYB),…
Media Digest (8/29/2012) Reuters, WSJ, NYT, FT, Bloomberg
China’s official PMI hits a nine-month low in August. (Reuters) WellPoint Inc. (NYSE: WLP) CEO Braly steps down. (Reuters) General Motors Co. (NYSE: GM) to invest $1 billion in Russia within five years. (Reuters)…
Fidelity Investments Gets New Boss
Abigail Johnson, the daughter of Fidelity Investments CEO Edward C. Johnson III, has been promoted to run almost all of the money management behemoth. The company was founded by her grandfather and she owns…
ECB Wants to Save Europe, Again
President Mario Draghi made another vague comment about how the European Central Bank can help relieve the financial tension in Europe: Yet it should be understood that fulfilling our mandate sometimes requires us to…
No Crude Spike from Isaac
Oil traders ignored the fact that Hurricane Isaac, now a Category 1 storm, stepped ashore in Louisiana. WTI crude actually dipped nearly $1 to $95.55. Despite the billions of dollars of damage the rain…
G7 Begs for More Oil
The Group of Seven finance ministers asked the world’s largest energy-producing nations to increase the supply of oil. The ministers released a call to that effect: We stand ready to call upon the International…
Another Female CEO Leaves
One of the few female Fortune 500 CEOs left her job recently. Poor stock performance and lackluster earnings led Angela F. Braly to resign at WellPoint Inc. (NYSE: WLP). The company has some 33 million members…
Cadillac: Another Car Company Wants to Double Sales
General Motors Co. (NYSE: GM), which has a recent history of executives who put their feet into their mouths, managed to have that happen again. The world’s largest car company believes it can double…
What’s Important in the Financial World (8/29/2012)
Crude Drops Despite Hurricane Oil traders ignored the fact that Hurricane Isaac, now a Category 1 storm, stepped ashore in Louisiana. WTI crude actually dipped nearly $1 to $95.55. Despite the billions of dollars…
WellPoint CEO Quits
Investors have called for the CEO of WellPoint Inc. (NYSE: WLP) to step down because of poor earnings, a loss of customers, and a falling share price. Today, those investors got their way The company…
G7 Nations May Ask for More Oil Production
Rumors have come out of France that G7 financial ministers will ask the largest oil-producing nations to increase supply. Prices have crept up sharply again since they sold off early in the summer. WTI crude sits at about…
Foreclosures Dip in July
Foreclosure fell in July, but only by a very modest amount compared to the previous month and July 2011, according to research firm CoreLogic. In its National Foreclosure Report, it issued these statistics: According…
Airlines to Allow More Devices on Planes?
The use of cellphones during a passenger airline flight interferes with cockpit instruments. That means that the phones might cause a plane to crash, or at least that is what carriers probably want passengers to think.…
Spain’s Flat Spin Continues as GDP Falls
The notion that Spain’s economy could recover from the current flat spin on its own always was wildly improbable. The country does not have the means, either in its manufacturing, financial or service sectors, to recover without…