Procter & Gamble Cuts Jobs During Period of Success
Procter & Gamble (NYSE: PG) will cut as many as 5,700 jobs, despite the fact that Wall St. is impressed by the company’s success. Its shares trade at a two-year high, up 25% over that period.…
All Work
Douglas A. McIntyre
What’s Important in the Financial World (2/24/2012) Apple Cash, VW Sales
The U.S. Postal Service has begun a cost-cutting process meant to save it $10.5 billion between now and 2015. The first tranche is a consolidation or shuttering of 223 locations. The effect of the move will trigger…
Media Digest (2/24/2012) Reuters, WSJ, FT, Bloomberg
Steve Wynn pushes major shareholder Kazuo Okada off the board of Wynn Macau. (Reuters) AIG (NYSE: AIG) makes a large profit on portfolio gains. (Reuters) Apple’s (NASDAQ: AAPL) legal fight with Proview International moves to…
Crude Moves Above $108
The price of WTI crude rose above $108, and its rise does not appear ready to stop. The price reached $108.43 as concerns about Iran supplies and the possibility it will try to block the Strait…
Apple May Release New, Smaller Key Board
It is hard to imagine how PC and smartphone keyboards could get any smaller. They are already difficult enough for people with large hands to use. Apparently Apple thinks otherwise and may be on…
Skepticism Over Gingrich Promise Of $2.50 Gas
Newt Gingrich, running from well behind the pack in the Republican race made a promise during the Wednesday debate. “I’ve developed a program for American energy so no future president will ever bow to…
French Consumer Confidence Levels Good–Insee
Insee, the French statistics bureau, reported relatively strong household and business confidence. France is one of the few nations in the EU which is not expected to go into recession this year, which may…
Brent Crude Reaches All-Time High Measured In Euros
Brent crude, the most expensive grade of oil which is widely available, continued to advance in price. As a matter of fact when measured in euros it reached an all-time high of 92.6 euros…
US May Help India With Oil Supplies
India, Japan, and several other large nations which depend on Iranian oil have tried to cut imports from that country as new sanctions against it begin. The US and EU have continues to pressure Iran…
VW Has Record Profits
VW sold 8.27 million cars and light trucks last year. Revenue rose 26% to 159 billion euros. Earnings before interest and taxes were up 58% to 11.3 billion euros The top unit sales means…
Greece Bond Swap Begins
Greece will begin the process of swapping current bonds for new, lower value ones. The process will cause private investors to take a “haircut’ of 70%. There are questions about whether this will be…
Proview Takes Apple To Court In US
Unable to get a quick trademark win in China, Proview has gone to US court to challenge the use of its trademark material According to WSJ The lawsuit, which was filed in the Superior…
Eurozone Bailout: Germany Decides to Pay Later Instead of Now
Germany has made it clear once again that it believes the new 500 billion euro European Stability Mechanism (ESM) is adequate for future bailouts in the region. The International Monetary Fund and other countries…
Online Privacy: Consumers 1, Web Companies 0
Several initiatives were set in the past two days to protect consumers against private data collected by providers of browsers, apps and websites that keep personal information. Such information is used to target advertising and…
What’s Important in the Financial World (2/23/2012) Death of the PC, European Recession
The European Commission forecast a growth rate of 0.5% for the eurozone as recently as late last year. Now, it expects a contraction of 0.3%. That means a second recession in four years. The EC…
Media Digest (2/23/2012) Reuters, WSJ, NYT, FT, Bloomberg
A panel suggests that Vivus diet drug Qnexa be approved by the FDA. (Reuters) Japan may cut crude oil imports from Iran by 20%. (Reuters) Poor results cause shares of Hewlett-Packard (NYSE: HPQ) to drop…
BP And Anadarko Face Huge Spill Liabilities
A judge has decided that both BP and Anadarko can be sued from damages from the Deepwater Horizon spill under the Clean Water Act, and Oil Pollution Act. The decision opens them to civil…
App Downloads Get New Privacy Rules
As a part of a series of major privacy intiative meant to protect people from data gathering by websites, apps, and browsers, several companies have agreed to insist customers know what information app providers…
US Gas Consumption At 11 Year Low
Gas consumption by US consumers is at an 11 year low, according to a number of media. This has not helped keep down gas prices, as forces outside the US like a potential blockade…
Google Wants To Launch TV Product In Kansas City
Google has applied to provide TV products to homes in Kansas City, Mo. The media has pointed out that this puts the search company into direct completion with cable TV. The offering would also include high speed internet…