Foreclosure Settlement Done? But Without Majors States
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…
All Work
Douglas A. McIntyre
Wal-mart Names New China CEO
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…
Republic Air May Dump Frontier
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…
Some European Banks Don’t Want ECB Money–WSJ
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…
India Cuts Its Annual GDP Growth Rate To 6.9%
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…
Disney And Univision May Start 24-Hour News Channel
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 Raises It Dividend
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 Earnings Picture Improves
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…
Most Of MF Global Cash Found
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…
Greece To Cut 15,000 Public Jobs
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…
St Louis Fed Chief–“peak in U.S. housing prices represented an overvaluation”
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…
More Bad News For Greece, Eurostat Says Debt To GDP Rises
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…
Today’s Best Market Rumors (2/6/2012)
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…
Nabors Ex-CEO To Drop $100 Million Comp Package
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, In Chapter 11, Faces Union Strike
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…
America’s Shrinking Corporate Giants
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…
A Tie Between the Fates of Greece and China
Greece is on the “razor’s edge” of default, its financial minister Evangelos Venizelos said. The International Monetary Fund said China’s GDP growth could collapse if the eurozone’s troubles increase. The IMF reported its forecast of China’s 2012…
HTC: The Latest Victim of Smartphone Wars
HTC posted fourth-quarter earnings that were less than impressive. It also forecast a disastrous first quarter. These are signs that HTC is the latest company to succumb to the success of Samsung and Apple (NASDAQ: AAPL). Like…
GM’s Unrealistic Profit Target
At about the same time that General Motors (NYSE: GM) ran five ads during the Super Bowl, its management said the world’s largest car company has targeted profits of $10 billion a year for the next…
What’s Important in the Financial World (2/6/2012) Greek Settlement, GM Profit Target
Time has finally run out for Greece. The European Union, European Central Bank and International Monetary Fund have said they are tired of waiting to see if Greece can cut is budget again. Some members…