Challerger Gray Christmas reported today that The number of planned layoffs announced in November remained virtually unchanged from the previous month, as US-based employers reported job cuts totaling 42,474, down 0.7 percent from 42,759…
AT&T (NYSE: T) and China Telecom announced that they would expand AT&T’s existing IP-VPN service in China and connect the China Telecom and AT&T MPLS-based IP networks in the United States AT&T could use…
China made an unexpected cut in its bank reserve ratio. It is the first time the action has been taken in two years. Bloomberg writes Reserve ratios will decline by 50 basis points effective…
Europe may only have a week to rescue itself from financial disaster. The borrowing costs of Italy and Spain have been unsustainably high for too long. The stability fund established to back the debt…
Yahoo! (NASDAQ: YHOO) may have more offers for its businesses, or the whole company, than it can handle. The FT reports that China e-commerce company Alibaba may buy share its owns in the company.…
The EU continues to work on its bailout fund and may ask the IMF for help. (Reuters) American Airlines parent AMR (NYSE: AMR) files for Chapter 11. (Reuters) S&P cuts its ratings on large American…
The Empire State Building was erected in 1930, at the beginning of the Great Depression. It took only 18 months to complete the 102 story structure, which would be impossible in today’s world of permits…
Rumors suggest that Italy may turn to the International Monetary Fund to cover its deficits. The costs for the nation to borrow money in the capital markets has become too high. These same rumors…
Almost no one knows what a zettabyte is. Cisco Systems (NASDAQ: CSCO) uses the term to measure the volume of data center IP traffic. According to the router giant, “Annual global data center IP…
The FT reports that India’s economy grew at the slowest rate for more than two years in the second quarter, confirming the country’s shift to lower growth rates of about 7 per cent. The…
S&P and Moody’s may have missed critical signs that Greece was in trouble. The New York Times reports that Moody’s in particularly did not see how bad things were in the southern EU nation Until…
Facebook, which was supposed to have a $10 billion IPO in the spring that would value it at $100 billion, may elect bypass the traditional route of using bankers. The Wall Street Journal reports that…
Yahoo! (NASDAQ: YHOO) will try to get a deal done to sell the company or many of its assets by the end of the year. The process, which began slightly after CEO Carol Bartz was…
Documents from the FCC analysed by The Wall Street Journal show the extent to which the agency resisted a deal for AT&T (NYSE: T) to buy T-Mobile. The documents said that the merger would stifle…
Goldman Sachs (NYSE: GS) has decided it will make more money providing capital for new hedge funds than putting money into its own. The new strategy has caused a rapidly rising set of new…
Reuters and the FT report that large corporations and banks have started preparations for the eventual break-up of the eurozone. Reuters reports that Drawing on interviews with company officials, bankers and lawyers in Europe,…
An S&P downgrade of several large US banks and lack of progress on eurozone bailout plans knocked Asia stocks lower. The Nikkei 225 was off .51% to 8,435. The Hang Seng dropped 1.46% to…
It is clear that e-commerce sales growth has begun to race ahead of bricks-and-mortar revenue growth this holiday season. Comscore reports that Cyber Monday was “The Heaviest Online Spending Day In History”. Broadband internet…
The state of the real estate market continues to worsen. S&P/Case-Shiller data issued earlier today showed home prices dropping in most of the top 20 markets. New Corelogic information indicates that 22.1% of all homes…
The tug of war between proofs of recession and recovery received some weight on the recovery side. The Consumer Confidence Index soared in November, at a rate last posted in 2003. The Conference Board…