Can Americans Handle $150 Oil?
The International Energy Agency said Europe could “cope” with a supply shortage brought on by a drop in imports of crude from Iran, but that prices might temporarily reach near the $147 a barrel…
All Work
Douglas A. McIntyre
Ford the Latest to Waiver on Chinese Growth
Chinese sales have been a backbone of General Motors’ (NYSE: GM) and Volkswagen’s earnings for several years. These firms have ridden their shares of the world’s largest car and light truck market to strong profit margins. All…
A Few Snags in Greece’s Bailout
Greece apparently has its 130 billion euro bailout, which should probably carry it through 2014. At least that is the intention. Private creditors have agreed to a 53.5% reduction in the value of their paper.…
What’s Important in the Financial World (2/21/2012) FedEx and TNT, Apple and China Telecom
Greece got its 130 billion euro bailout. Most media outlets and economists made the same observation about the deal. Greece’s economy continues to contract at a rate of about 6%. Unemployment is above 20%. Greece…
Media Digest (2/21/2012) Reuters, WSJ, FT, Bloomberg
Europe reaches a deal to bail out Greece, but not all details are set. (Reuters) Japan and the U.S. agree on how much Japan will take in cuts to its import of Iranian oil. (Reuters)…
Home Depot Sales Up–Light At End Of Housing Market
Home Depot (NYSE: HD) reported robust sales for its fiscal fourth quarter which ended January 29. Same-store sales in the US were up 6.1% As the housing market has faltered and the recession has…
China Cuts Iran Oil Imports
Iran says it will no longer ship oil to the UK and France, due to sanctions the US and EU have put onto trade because of concerns about nuclear weapons programs Now, Iran must…
Fedex Could Bid For TNT
UPS has made a bid for European shipping company TNT. The $6.43 billion bid was turned down. What happens next? TNT may decide it can operate successfully as a standalone company and reject all…
Japan And US Agree On Iran Oil
Japan is a huge net importer of oil. It needs to do business with Iran, even though the nation is under sanctions because of its nuclear weapons program. The US wants to put maximum…
Apple And China Telecom Set A Deal
Apple will offer its iPhone through China Telecom, one of the largest carriers in the People’s Republic. It already has a relationship with China Unicom, but not one with the largest carrier–China Mobile. Apple has…
Oil Cruises By $121
Brent crude moved above $121 a barrel as trouble with Iran exports became more acute. Iran says it will stop shipments to the UK and France because of sanctions place on it due to…
Greece Finally Saved
European finance ministers finally reached a bailout of Greece, although it was overshadowed by reports that the IMF has estimates that the southern European nation almost certainly cannot make its debt to GDP goals…
S&P Japan Rating And Its Trade Deficit
Two bad things happened regarding Japan at almost the same time. It announced its largest monthly trade deficit ever, at $18.7 billion. And, S&P affirmed its long term AA- rating, but with a negative outlook. The two were not related, but…
Economic Report To The President–Not Much Substance
Close to the beginning of 443 pages of analysis by the Council of Economic Advisors called the “Economic Report from The President” was this observation: This is a make-or-break moment for the middle class, and for all those…
Italy Finally Admits Recession
Italy finally made an admission that its economy will be in recession this year. It is yet one more economy in the region which will struggle to add jobs and increase its tax base; one…
Media Digest (2/20/2012) Reuters, WSJ, NYT, FT, Bloomberg
Wynn Resorts (NASDAQ: WYNN) accused large business partner Kazuo Okada of fraud and bought out his position (Reuters) Ministers in the EU will make a final determination on Greece today (Reuters) Japan’s huge trade deficit is…
Iran Halts Oil Shipments To UK And France–Threat To US Gas Prices
Several media have reported that Iran announced it will stop oil shipments to the UK and France. The effects are likely to go far beyond these nations. Brent crude currently trades above $120, and…
Greek Bailout Draws Closer
Germany appears ready to aid in a Greek bailout without stringent conditions on the control of the southern European nation’s budget. The ECB and private investors appear closer to exchanging their debt for less valuable…
Foxconn, Apple Supplier, Raises Worker Comp
The question will be is it enough?. After wide-spread consumer complaints about the manufacturing worker conditions at Apple (NASDAQ: AAPL) supplier Foxconn, and Apple’s alliance with watchdog Fair Labor Association, Foxconn has raised worker compensation. There…
Post Office Targets 155,000 Job Cuts
In a move meant to turn the Postal Service to a profit and turn its net debt into cash, the management of the agency proposes that 155,000 jobs be eliminated between this year and 2016…