An independent panel which investigated the financial dealings of Olympus suggested legal action against management. The company hid as much as $1.7 billion in losses by setting fraudulent financial transactions. “The core part of…
S&P’s warning that it could downgrade most of the stocks in the euro caused investors to flee stocks. In Asia, the Nikkei 225 was down 1.3% to 8,575. The Hang Seng dropped 1.2% to 18,942.…
Last week, 24/7 Wall St. made the case that The Talbots (NYSE: TLB) fire its CEO Trudy F. Sullivan. Today, the company pushed her out and said it would start a CEO search. The Talbots…
Holiday e-commerce sales continue to set records. Amazon.com (NASDAQ: AMZN), which is the leader in e-commerce sales by far as a single company, is likely to be among the major beneficiaries of the trend.…
There was a time, from the 1960s through earlier in this century, when television was considered a tremendous waste of time for Americans who should have been reading, working or exercising. Many surveys showed that…
The cabinet in India has set new rules that would allow large outside retailers like Walmart (NYSE: WMT) to own 51% of local multiproduct retail establishments. But it appears that parliament will turn down this plan.…
The government of the new Italian prime minister, Mario Monti, has approved new austerity measures of $40 billion. The cuts now move on to the nation’s parliament. But they may be overruled by Italians,…
Samsung shares rise after its victory in the U.S. against Apple’s (NASDAQ: AAPL) attempt to block its Galaxy tablet from the U.S. market. (Reuters) HSBC data show that China’s PMI slowed considerably. (Reuters) U.S. Treasury…
A pact to save Europe. France’s president Sarkozy and Germany’s Angela Merkel will try to set a grand pact to save Europe. Germany wants strict adherence to austerity plans in nations that accept money.…
The age in which first class letters could be delivered in one day is over. The US Postal Services, facing huge deficits and a multi-billion pension liability, will save costs by setting first class…
US citizens who are out of work have collected $434 billion in unemployment benefits according to government data reviewed by CNN Money. Taxpayer have paid $185 billion of this that Labor Department reports CNN…
According to CNBC, the Markit measure of Europe’s economy posted poor results for the third month in a row Survey compiler Markit said November’s composite PMI put the euro zone on course for a 0.6…
Oil prices have risen to $102. One of the causes is concern that the flow of oil from Iran could drop. Sanctions against the nation because of its nuclear power activity to curtail the…
SAP (NYSE: SAP) will buy cloud computing company SuccessFactor (NYSE: SFSF) for $3.4 billion. It is a move that will get the Germany company into a business dominated by Microsoft (NASDAQ: MSFT), Google (NASDAQ: GOOG),…
Online gaming firm Nexon Co fixed the price for its $1.2 billion initial public offering. The firm is viewed ast the Japan equivalent to Zynga which plans an IPO in the US which would value it as $10…
The HSBS data on China’s November PMI confirms the official numbers from the People’s Republic. The index fell to 52.5 from 54.1 in October. “With price pressures easing further, Beijing can and should use policies…
An ongoing believe that the problems with European debt will be addressed soon helped Asia tick higher. The Nikkei 225 moved higher .6% to 8,696. The Hang Seng was up .73% to 19,180. Europe…
The cabinet of new Italian prime minister Mario Monti has agreed with strict austerity measures to cut the nation’s crippling debt. Italy is still having trouble raising money at viable interest rates. Last week they…
Saab, a company virtually bankrupt and and which has not produced a car in months, will be partially owned by and rescued by a large Chinese bank, according to Reuters. Saab’s Dutch owner and China’s…
Software giant SAP (NYSE: SAP) will buy US company SuccessFactor (NASDAQ: SFSF) for $3.4 billion. The price of $40, a 52% premium. The firm creates management and human resources software. SAP will use cash on…