Big government and corporations are careful to bury their failures in the fine print. The Treasury Department released its January analysis of the Home Affordable Mortgage Program (HAMP) program. Readers must sift through a large…
The Greek ruling coalition has said it will cut 15,000 government workers as an austerity sacrifice to the European Commission, European Central Bank and International Monetary Fund. The “troika,” with Germany in the background,…
Greece continues to demonstrate that it can teeter almost indefinitely between austerity and the grant of aid packages without a short-term resolution to its sovereign debt crisis. The latest development is that the ruling coalition has agreed…
Glencore and Xtrata agree to a $90 billion merger. (Reuters) Greek leaders face a deal for settling sovereign debt matters as workers strike. (Reuters) Toyota (NYSE: TM) posts good third-quarter profits and says the…
There is a settlement between banks and a number of states over improper home mortgage services. The deal is also meant to cover federal charges. It is not much of a deal, because it…
Wal-mart has been a success in Mexico and the US. It has faltered in Germany and South Korea. Its most important market for future global growth is China. That is no wonder given the…
In a period in which airline consolidation is the force which drives the industry, Republic Air will probably dump its Frontier division. The operation has been plagued by losses. Frontier’s problems beg the question of…
Worries about the stigma it could create if a large EU bank took money from the ECB, some have passed on the opportunity. These feel it would signal the market that their balance sheets…
The India government has cut its growth forecast for the fiscal year that ends in March. The decision come at a time when economist expect the other major developing nations–China–to lose economic momentum. The…
There are media reports that Walt Disney (NYSE: DIS) which owns ABC, and Univision, the huge Spanish broadcaster, will start a 24-hour news channel. It would be aimed at English speaking Hispanics in the US…
BP raised its dividend, which it said was proof of its financial health after earnings hits and asset sales due to the Deepwater Horizon disaster. BP still face billions of dollars of lawsuits over…
Toyota said its earning for the quarter which ended in December were $1.1 billion. That is a strong showing for a company which was hurt by a huge number of recalls in 2010, the March…
For weeks, financial experts and the media have said that the $1.2 billion in customer money “lost” by MF Global would never been found. Now, the trustee for the customers reports that “The trustee’s…
In a move which will likely incite riots among labor unions, and which could break apart a political coalition that has helped Greece move toward approval of a new bailout, the government will fire…
The head of the St Louis Federal Reserve, James Bullard, made the comment in a speech today that the “peak in U.S. housing prices represented an overvaluation”. That may be obvious to almost all observers…
The debt situation in Greece worsened in the third quarter of last year, based on data from EU data firm Eurostat. The information give another reason for the ECB, EU, and IMF to abandon a…
Updated throughout the day on 24/7 Wall St. Wire. A $25 billion settlement between the federal government and state attorneys general on one side and five banks on the other over mortgage fraud may…
Eugene Isenberg, the chairman and former CEO of Nabor Industries (NYSE: NBR), will drop his claim to a $100 million compensation package. The deal has been attacked by shareholder activists and the press The company said…
Hostess went into Chapter 11 to save itself. The most may backfire. Unions, concerned about possible job losses may strike the company, exacerbating its financial woes According to NY Post Representatives of the union…
It is rare for one of America’s largest companies to lose a third or more of its sales in a brief time. When it happens, it is usually either because of market or economic…