tag:blogger.com,1999:blog-76253064586450289052012-01-14T05:22:56.602-08:00RKLnoreply@blogger.comBlogger9001100tag:blogger.com,1999:blog-7625306458645028905.post-47402918297591823752010-02-18T03:40:00.001-08:002010-02-18T03:40:19.291-08:00

European stock markets pushed higher Thursday as positive U.S. earnings and a fairly upbeat assessment from the U.S. Federal Reserve helped maintain optimism about the recovery in the world's largest economy. In Europe, the FTSE 100 index of leading British shares was up 34.96 points, or 0.7 percent, at 5,311.60 while Germany's DAX rose 22.05 points, or 0.4 percent, to 5,670.39. The CAC-40 in

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-41711353014845935462010-02-17T03:30:00.001-08:002010-02-17T03:30:24.895-08:00

Oil prices extended gains above $77 a barrel Wednesday in Asia after surging the previous day amid expectations a growing U.S. economy will fuel increased crude demand. Benchmark crude for March delivery was up 50 cents at $77.51 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $2.88 to settle at $77.01 on Tuesday. Oil and

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-2667170451758969502010-02-17T03:29:00.001-08:002010-02-17T03:29:56.229-08:00

World stocks rose Wednesday on upbeat corporate earnings reports and as worries about Greece's debt crisis eased. Kraft Foods Inc. and apparel retailer Abercrombie & Fitch reported earnings that beat expectations on Tuesday, while drugmaker Merck & Co. and UK banking giant Barclays also reported soaring profits. France's BNP Paribas, the eurozone's largest bank, posted its fourth straight

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-41615883644435950872010-02-16T06:49:00.001-08:002010-02-16T06:49:29.259-08:00

Mall owner Simon Property Group said Tuesday that it made a $10 billion offer to acquire its ailing rival, General Growth Properties. The real estate company said its bid totals $7 billion to creditors and about $3 billion to General Growth shareholders. Simon also said its offer might be amended so shareholders could receive Simon stock instead of cash. The offer amounts to $9 per share for

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-40213071261091488552010-02-16T06:48:00.001-08:002010-02-16T06:48:40.101-08:00

Drugmaker Merck & Co. on Tuesday posted huge jumps in revenue and profit for the fourth quarter, mainly due to its purchase of longtime partner Schering-Plough Corp., but announced plans for a new round of restructuring. Merck reported net income of $6.49 billion, up from $1.64 billion a year earlier. Along with the addition of a few billion dollars in sales from Schering-Plough products, the

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-87716122952760577432010-02-16T03:30:00.001-08:002010-02-16T03:30:40.298-08:00

President Barack Obama, defending his economic stimulus plan on its first anniversary, is dispatching his Cabinet across the country to try to calm an anxious public as Democrats head into potentially devastating midterm elections. A weeklong push to highlight the stimulus program's first year was starting with a Tuesday trip by Vice President Joe Biden to hard-hit Saginaw, Mich., to tour a

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-16049437386593371762010-02-15T11:23:00.000-08:002010-02-15T11:23:08.838-08:00

European stock markets won some respite Monday ahead of a meeting of eurozone finance ministers in Brussels, where the Greek debt crisis will inevitably top the agenda. Public holidays in Asia as well as the U.S. have kept volumes low. The FTSE 100 index of leading British shares closed up 25.02 points, or 0.5 percent, at 5,167.47 while Germany's DAX rose 10.71 points, or 0.2 percent, at

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-8748173264344977472010-02-15T02:59:00.001-08:002010-02-15T02:59:30.752-08:00

Toyota has still not decided whether its president will appear before the U.S. Congress, the automaker said Monday, but it promised to again look into possible electronic problems with its vehicles. Toyota Motor Corp. has been criticized as being slow in responding to the unfolding recall crisis, which has ballooned over the past four months to 8.5 million vehicles globally with problems in gas

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-1401502290256833932010-02-12T04:45:00.001-08:002010-02-12T04:45:16.118-08:00

Oil prices sunk below $74 a barrel Friday as the dollar strengthened and investors awaited a weekly crude supply report that could reflect sluggish U.S. demand. By early afternoon in Europe, benchmark crude for March delivery was down $1.50 at $73.78 a barrel in electronic trading on the New York Mercantile Exchange. The contract added 76 cents to settle at $75.28 on Thursday. With U.S.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-30961788507321705022010-02-11T10:57:00.000-08:002010-02-11T10:57:04.180-08:00

The number of newly laid-off workers seeking unemployment benefits fell more than expected last week to the lowest total in a month, a sign the job market may be improving. The Labor Department said that first-time claims for unemployment insurance dropped by 43,000 to a seasonally adjusted 440,000. Wall Street economists expected a smaller decline of 15,000, according to a survey by Thomson

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-18796148738456717702010-02-11T05:56:00.001-08:002010-02-11T05:56:30.839-08:00

AutoNation Inc (AN.N), the largest U.S. auto dealership group, on Thursday posted quarterly results that exceeded analysts' expectations and said Toyota Motor Corp was making progress in its repair program. The dealership group, whose shares were up 1.4 percent in premarket trade, also said that a fourth-quarter increase in new vehicle sales revenue, its first in five years, provided evidence

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-17833342438576526782010-02-11T05:55:00.001-08:002010-02-11T05:55:44.777-08:00

Credit Suisse (CSGN.VX) boss Brady Dougan said the Swiss bank was winning client money and transactions faster than at any point since the financial crisis began, putting a positive sheen on weak quarterly earnings. Investors welcomed Dougan's upbeat comments after initial disappointment that fourth-quarter earnings missed forecasts on Thursday as investment banking slowed and came in below

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-46647286059363152772010-02-11T05:54:00.001-08:002010-02-11T05:54:33.312-08:00

The number of newly laid-off workers seeking unemployment benefits fell more than expected last week to the lowest total in a month as states cleared out administrative delays left over from the Christmas holidays. The Labor Department said that first-time claims for unemployment insurance dropped by 43,000 to a seasonally adjusted 440,000. Wall Street economists expected a smaller decline of

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-92004440021143663382010-02-10T07:43:00.000-08:002010-02-10T07:43:37.594-08:00

Federal Reserve Chairman Ben Bernanke began Wednesday to outline the central bank's strategy for reeling in stimulus money once the economic recovery is more firmly rooted. Bernanke said the Fed will likely start to tighten credit by boosting the interest rate it pays banks on money they leave at the central bank. Doing so would raise rates tied to commercial banks' prime rate and affect many

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-70100772988704706642010-02-10T03:40:00.001-08:002010-02-10T03:40:21.977-08:00

Greek shares led world markets higher Wednesday amid mounting hopes that German opposition to a European Union financial rescue package for the heavily indebted country is waning. European markets climbed higher following big gains Tuesday on Wall Street and an earlier advance in Asia. The FTSE 100 index of leading British shares was up 29.97 points, or 0.6 percent, at 5,141.81 while Germany's

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-63872111018512279852010-02-09T08:26:00.001-08:002010-02-09T08:26:18.527-08:00

The euro is under siege — and the next few days will be crucial. Financial markets are betting heavily that Greece's crushing debt could drag down the entire eurozone, and that could force reluctant EU leaders into an embarrassing bailout. If EU leaders don't take some kind of decisive action this week at their summit meeting, the euro could continue its slide — and Greece's economic woes could

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-38908350624731311742010-02-09T07:40:00.000-08:002010-02-09T07:40:01.300-08:00

Toyota is recalling 437,000 Prius and other hybrid vehicles worldwide to fix brake problems — the latest embarrassing safety lapse at the world's largest automaker. "I don't see Toyota as an infallible company that never makes mistakes," President Akio Toyoda said at a news conference Tuesday. "We will face up to the facts and correct the problem, putting customers' safety and convenience first.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-9054638142032442462010-02-08T04:34:00.003-08:002010-02-08T04:34:55.185-08:00

Hopes that that Greece won't be allowed to default on its crushing debt load weighed against fears the country's crisis would spread through the 16-country euro zone, as the government worked Monday on a tax overhaul aimed at getting its deficit under control. Finance Minister George Papaconstantinou says a new tax bill to be presented this week will expand the top 40 percent tax bracket to

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-20979725236877140082010-02-08T04:34:00.001-08:002010-02-08T04:34:21.460-08:00

Toyota said Sunday that it will soon announce plans to deal with braking problems in its prized Prius hybrid amid reports it has decided to issue a recall for the vehicle in Japan, a possible new embarrassment for the world's biggest automaker. Toyota Motor Corp. has already had to recall more than 7 million other cars in the U.S., Europe and China over a sticky accelerator and floor mats that

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-27721805287482275482010-02-08T04:33:00.001-08:002010-02-08T04:33:52.231-08:00

A court has ordered a former subsidiary of Liechtenstein's LGT bank to pay over euro7.3 million ($10 million) to a client for failing to inform him that his confidential details had been stolen and handed to authorities, thereby harming his chances of escaping criminal penalties for tax evasion. Fiduco Treuhand AG, previously known as LGT Treuhand AG, said Monday it would appeal against the

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-42953486096500336182010-02-05T05:52:00.000-08:002010-02-05T05:52:17.719-08:00

Russia's finance ministry announced Friday its pick of four investment banks to manage its upcoming sovereign eurobond issue, which could raise up to $17.8 billion and will mark the country's return to the debt market after ten years of surpluses. Barclays Capital, Citibank, Credit Suisse and VTB Capital have been selected to jointly organize Russia's eurobond issue, the ministry said in a

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-10687405818262166092010-02-05T05:51:00.001-08:002010-02-05T05:51:15.245-08:00

The unemployment rate dropped unexpectedly in January to 9.7 percent from 10 percent while employers shed 20,000 jobs, the government said Friday. The rate dropped because a survey of households found the number of employed Americans rose by 541,000, the Labor Department said. The job losses are calculated from a separate survey of employers. The report also included an annual revision to the

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-32419527349026368162010-02-03T01:49:00.001-08:002010-02-03T01:49:56.636-08:00

Toyota Motor Corp. has been hit by over 100 complaints in the U.S. and Japan about brake problems with the popular Prius hybrid, the latest in a spate of quality troubles for the automaker as it grapples with massive global recalls. The Japanese company's sales are being battered in the U.S. — Toyota's biggest market — after recalls of top-selling models to fix a gas pedal that can stick in the

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-66449996963510001022010-02-02T09:54:00.001-08:002010-02-02T09:54:45.730-08:00

Humans are programmed for self-preservation. Ironically, that doesn't mean we're instinctively inclined toward wealth preservation. Sure, some people are inveterate savers -- reveling in their ability to ignore consumerism and sock away 30% of their gross income. But then there are the rest of us, who manage to sock away just 4% of our income, according to recent savings rate figures. We all

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-74105935117300710242010-02-02T09:53:00.001-08:002010-02-02T09:53:30.830-08:00

Better news from the housing industry sent stocks higher Tuesday, including an increase in the number of people with contracts to buy homes. The National Association of Realtors, a trade group, said its index of sale contracts rose 1 percent in December. It was the ninth improvement over the past 10 months as buyers scrambled to take advantage of a first-time homebuyer tax credit before it was

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-17507844750299029002010-02-02T03:46:00.001-08:002010-02-02T03:46:24.819-08:00

President Barack Obama's bid to sell his economic agenda and re-energize voters picks up in politically significant New Hampshire, where he will again promote an idea to free up money for small businesses that are hurting. Obama travels to Nashua, N.H., on Tuesday to draw attention to a proposal highlighted in his State of the Union address last week: funneling $30 billion to local banks so they

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-79693604581074367292010-02-02T03:38:00.001-08:002010-02-02T03:38:48.696-08:00

Toyota's fix for the gas pedal problem that led to the recall of millions of cars has not come soon enough to prevent a consumer backlash in the U.S. and elsewhere that is battering its sales. One of the automaker's top executives on Tuesday said the damage from the global recall of nearly 4.6 million vehicles may be greater than previous quality problems because of the massive scale. "This is

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-55246840496972880912010-01-29T03:20:00.001-08:002010-01-29T03:20:40.287-08:00

President Barack Obama is taking another swing at offering tax credits to companies that hire new workers, a plan that drew a cool reception from Congress last month despite the nation's high unemployment rate. With polls showing that jobs are Americans' top priority, Obama cited the retooled plan in his State of the Union address, and he is to detail it Friday when he visits a small business

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-39533291437133287472010-01-28T08:21:00.001-08:002010-01-28T08:21:43.436-08:00

Natural gas stockpile levels fell last week less than analysts expected, the government said Thursday. The Energy Department's Energy Information Administration's weekly report showed that natural gas inventories held in underground storage in the lower 48 states dropped by 86 billion cubic feet to about 2.52 trillion cubic feet for the week ended Jan. 22. Analysts forecast a draw of between

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-64812401871768147892010-01-28T04:18:00.001-08:002010-01-28T04:18:09.476-08:00

World stock markets recovered their poise Thursday after the U.S. Federal Reserve indicated that interest rates would not rise soon — even though the first cracks appeared on the central bank's rate-setting committee. President Barack Obama's focus on the economy in his first State of the Union speech and a seemingly less hostile attitude to the banks in the speech also helped stocks to rally in

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-38581516421576251082010-01-28T04:17:00.001-08:002010-01-28T04:17:37.786-08:00

Ford Motor Co. says it made $2.7 billion in 2009, its first annual profit in four years. Ford says it benefited from cost-cutting, debt reduction and popular cars and trucks like the Ford Fusion sedan and Escape SUV. It's enjoying customer goodwill for avoiding bankruptcy and refusing federal aid. Ford's net income of 86 cents per share rose from the year before, when it lost a record $14.6

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-3819654794245879832010-01-27T06:01:00.000-08:002010-01-27T06:01:02.282-08:00

Japan's exports grew for the first time in 15 months in December as robust Asian demand fueled recovery in the world's second-biggest economy. Exports jumped 12.1 percent from a year earlier to 5.4 trillion yen ($60 billion) in the month, the finance ministry said Wednesday. Asia-bound exports, which account for more than 50 percent of Japan's total shipments, surged 31.2 percent to 3.0

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-38202994830169534712010-01-27T06:00:00.001-08:002010-01-27T06:00:32.064-08:00

United Airlines said business travel is improving, echoing comments from rivals Delta and American, and its fourth-quarter loss was much smaller than a year ago. UAL Corp., which runs the nation's third-largest airline, lost $240 million during the fourth quarter. That's much smaller than the $1.32 billion loss during the same period last year. Not counting fuel hedges and special items, it lost

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-33026914411488248142010-01-26T05:15:00.000-08:002010-01-26T05:15:09.877-08:00

President Barack Obama's push to create jobs includes a new tax credit for small businesses that add employees, an idea that has appeal as the nation struggles with an unemployment rate topping 10 percent. It is an idea, however, that fell flat in Congress when Obama first proposed it last year because lawmakers didn't know how to target the credit effectively. The Obama administration still

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-1477524950796526292010-01-25T11:57:00.001-08:002010-01-25T11:57:42.389-08:00

Sales of previously occupied homes rose in 2009 for the first time in four years, despite a December slump that was due to a tax credit that had caused many buyers to complete sales earlier. Still, prices plunged more than 12 percent last year — the sharpest fall since the Great Depression. The price drop for 2009 — to a median of $173,500 — showed the housing market remains too weak to help

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-23143084581861104132010-01-25T05:32:00.001-08:002010-01-25T05:32:45.647-08:00

Last month's sales of previously occupied homes are expected to be down sharply from November after prospective buyers were granted more time to take advantage of a tax credit. Buyers last month were no longer scrambling to qualify for a tax credit for first-time homeowners that was due to expire on Nov. 30. To give the market an added boost, lawmakers extended it until April 30. They also added

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-42117004534150832542010-01-21T11:29:00.001-08:002010-01-21T11:29:20.562-08:00

Rates for 30-year home loans fell to a shade below 5 percent this week but remained above last month's record lows. The average rate on a 30-year fixed mortgage was 4.99 percent, down from 5.06 percent a week earlier, mortgage company Freddie Mac said Thursday. It was the third-straight weekly decline. The drop comes after interest rates fell in the bond market this week as concerns about the

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-49311789456556648702010-01-21T11:28:00.001-08:002010-01-21T11:28:33.100-08:00

A surprising jump in first-time claims for unemployment aid sent a painful reminder Thursday that jobs remain scarce six months into the economic recovery. The surge in last week's claims deflated hopes among some analysts that the economy would produce a net gain in jobs in January and help fuel the recovery. A Labor Department analyst said much of the increase was due to

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-8450561805959209622010-01-21T04:06:00.001-08:002010-01-21T04:06:48.158-08:00

General Motor Co.'s Opel unit will cut 8,300 jobs across Europe, including 4,000 in Germany, and close a plant in Antwerp, Belgium — casualties of the "tough reality" of a shrinking European auto market. Opel head Nick Reilly said Thursday that the Antwerp plant had to go, with the loss of more than 2,300 jobs, because the company needs to shed 20 percent of its manufacturing capacity. That's

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-60041079290548748962010-01-20T05:34:00.001-08:002010-01-20T05:34:51.293-08:00

President Barack Obama is ordering a new crackdown on federal contractors who don't pay their taxes. He was to sign an executive order Wednesday telling federal agency chiefs to take steps to bar those companies from receiving new government contracts. Obama was also directing the IRS to review contractor filings to ensure the companies are not lying about the taxes they've paid. A White House

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-40768990383397205692010-01-20T02:23:00.001-08:002010-01-20T02:23:56.662-08:00

Oil prices fell to near $78 a barrel Wednesday in Asia amid expectations of a dismal U.S. crude inventory report and fears of more lending curbs in China. Benchmark crude for February delivery fell 76 cents to $78.26 a barrel at late afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract rose $1.02 to settle at $79.02 on Tuesday. Crude's sharp rise

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-2199771359166657792010-01-19T11:41:00.001-08:002010-01-19T11:41:18.744-08:00

Federal Reserve Chairman Ben Bernanke asked Congress' investigative arm Tuesday to conduct a "full review" of the Fed's publicly derided bailout of insurance giant American International Group. The move is aimed at tamping down criticism of the $182 billion rescue. It has sparked public outrage and demands in Congress for more information about the lifelines, beginning in 2008, provided to the

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-59340393956715907912010-01-19T11:40:00.001-08:002010-01-19T11:40:50.712-08:00

Citigroup Inc. became the latest bank to take a cautious view of consumers' credit problems, reporting a $7.77 billion fourth-quarter loss due to failed loans and the costs of repaying government bailout money. The bank said Tuesday it did see some early signs of improvement in its credit business although it still needed to set aside $8.18 billion to cover unpaid loans. That amount was down 10

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-61267603938987995442010-01-19T04:51:00.000-08:002010-01-19T04:51:19.648-08:00

British candy maker Cadbury PLC on Tuesday accepted Kraft's improved takeover offer worth $19.5 billion, potentially ending a months-long corporate battle to create the world's largest maker of chocolate and sweets. The U.S. food conglomerate said the board of Cadbury, maker of Creme Eggs and Dentyne gum, had unanimously endorsed the offer worth 840 pence per share, or 11.9 billion pounds in

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-39649936654824664442010-01-19T04:49:00.003-08:002010-01-19T04:49:58.365-08:00

Stock futures are mixed Tuesday as uneasy investors focus on the first big week of corporate earnings reports. Investors are wary about earnings after a disappointing report from JPMorgan Chase & Co. on Friday helped send stocks sharply lower. Another big bank, Citigroup Inc., issues its fourth-quarter results before the market opens. IBM Corp. is expected to release earnings later in the day.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-72382347563623684732010-01-19T04:49:00.001-08:002010-01-19T04:49:30.328-08:00

Japan Airlines filed for bankruptcy Tuesday in one of the nation's biggest corporate failures ever, entering a restructuring that will shrink Asia's top carrier and its presence around the world. Staggering under a $25.6 billion debt mountain, the carrier applied for protection from creditors under the Corporate Rehabilitation Law — Japan's version of Chapter 11 — with the Tokyo District Court.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-49317861636765298132010-01-18T08:53:00.000-08:002010-01-18T08:53:04.591-08:00

Swiss Reinsurance Co. said Monday it transferred part of its U.S. life insurance business to American investor Warren Buffett's Berkshire Hathaway Inc. for 1.3 billion Swiss francs ($1.27 billion) to free up capital and invest it more profitably. The deal with Buffett's company, which already has a stake in Swiss Re, takes effect retroactively on Oct. 1, 2009. It has freed up 300 million francs

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-26242861751158239242010-01-18T08:51:00.001-08:002010-01-18T08:51:59.237-08:00

British singer Billy Bragg has threatened to stop paying taxes, and called on others to follow suit, unless the government acts to limit bonuses paid by the Royal Bank of Scotland (RBS). The 52-year-old singer, well known for his left-wing views and political activism, aims to tap public anger over "fat cat" bonuses at U.S. and British banks rescued with taxpayers' money during the financial

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-10435924286227547602010-01-18T01:14:00.001-08:002010-01-18T01:14:17.969-08:00

Asian stock markets slipped Monday as worries about American consumers undermined confidence in the recovery of the world's largest economy. Most markets were lower by less than 1 percent after a sharp decline on Wall Street Friday. Oil prices extended a losing streak, while the dollar gained against the yen and fell against the euro. Concerns about the sustainability of the U.S. economic

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-43606472797070073522010-01-12T06:34:00.000-08:002010-01-12T06:34:23.573-08:00

They're calling it the luxury car of the future that will serve as a "personal headquarters." It's the Cadillac XTS Platinum concept car, and General Motors Co. unveiled it Tuesday at the Detroit auto show. Concept cars are displayed at shows to gauge consumer interest, and they often are the basis for future products. The XTS, which can run on a rechargeable battery-powered electric motor

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-65922602277154203872010-01-12T06:32:00.003-08:002010-01-12T06:32:55.075-08:00

KB Home said Tuesday it turned a profit in its fiscal fourth quarter, the first time since early 2007, as the homebuilder benefited from a new tax rule that allowed it to offset past losses. The company earned $100.7 million, or $1.31 a share, in the three months ended Nov. 30. That included a tax gain of $191.7 million. On a pretax basis, KB Home lost $91 million as it abandoned land contracts

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-62787648958735717482010-01-12T06:32:00.001-08:002010-01-12T06:32:28.081-08:00

The Federal Reserve says it made a record profit of $46.1 billion last year as the central bank made money off its extraordinary efforts to rescue the country from the worst economic and financial crisis since the 1930s. The windfall gets turned over to the U.S. Treasury. It marks the biggest profit on records dating back to 1914 when the Fed was created. The previous record profit — of $34.6

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-11688608274187983362010-01-11T11:17:00.001-08:002010-01-11T11:17:33.673-08:00

The Iowa Legislature convened Monday for a shortened session with legislative leaders promising to make deep cuts needed to balance the budget without raising taxes. With a big shortfall facing legislators in the upcoming fiscal year, most seemed resigned to a difficult session. "There is simply no way to avoid the pain of the cutbacks we will make this year," said Senate Majority Leader

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-87626022530268959672010-01-11T11:15:00.001-08:002010-01-11T11:16:31.533-08:00

New York Attorney General Andrew Cuomo on Monday pressed the nation's eight biggest banks to reveal how much they plan to pay out in employee bonuses for 2009. Cuomo told reporters that he also wants to know how the size of the banks' bonus pool would have been affected if the banks hadn't received a taxpayer rescue at the height of the financial crisis in late 2008. The fact-finding effort

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-57232143151623622682010-01-11T11:14:00.001-08:002010-01-11T11:14:59.209-08:00

The struggling Internet company AOL was laying off up to 1,200 workers this week because it didn't get enough volunteers to accept buyouts. AOL spokeswoman Tricia Primrose said Monday that only 1,100 had volunteered to leave. That means AOL would need to shed up to 1,200 positions to reach its previously announced reduction target of up to 2,300, or about a third of its work force. The cuts,

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-15424271233938443172010-01-11T03:01:00.001-08:002010-01-11T03:01:05.991-08:00

World stock markets rose Monday as news of a surprisingly strong rebound in China's exports last month offset a dismal U.S. jobs report. Hong Kong and Shanghai markets led Asia after the Chinese government announced exports jumped nearly 18 percent in December after 13 months of declines, buoying confidence in Asia's prospects as Western economies struggle. Expectations of greater Chinese

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-17637923604014928372010-01-05T14:49:00.003-08:002010-01-05T14:49:56.204-08:00

Big automakers are glad to see the end of 2009, the worst year for U.S. sales in nearly 30 years. Detroit's three automakers and the top Japanese manufacturers — Honda Motor Co. Nissan Motor Co., and Toyota Motor Corp. — all saw sharp declines last year, but saw momentum going into 2010. Last year was brutal for most of the industry as credit froze, the economy and consumer confidence faltered

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-64891960655150478292010-01-05T14:49:00.001-08:002010-01-05T14:49:21.974-08:00

When Tobias "Bags of Money" Boyland went looking for a new career after serving 13 years in prison for armed robbery and drug dealing, he quickly found something that suited his sensibilities: He opened a collection agency. It was, in some ways, a natural move for a young man in Buffalo. Desperate for jobs, this chronically depressed Rust Belt city has become home to one of the biggest

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-49335036900649172132010-01-05T07:29:00.003-08:002010-01-05T07:29:53.132-08:00

Pending sales of previously owned U.S. homes fell more than expected in November because of the end of a rush to beat the initial expiration of a popular tax credit, a survey showed on Tuesday. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in November, dropped 16 percent to 96.0, after rising for nine straight months. Analysts polled by

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-5902465935230416562010-01-05T07:29:00.001-08:002010-01-05T07:29:26.046-08:00

The stock market zigzagged after reports on factory orders and housing gave mixed signals about the economy. The modest moves Tuesday came a day after the Dow Jones industrials soared more than 150 points on upbeat manufacturing reports in the U.S. and China. The Commerce Department said Tuesday that factory orders rose by more than twice what had been expected, reflecting demand in the steel,

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-50671570905356572222010-01-04T08:56:00.001-08:002010-01-04T08:56:38.285-08:00

An unexpectedly strong report on manufacturing activity Monday bolstered confidence that the nation's factories will help sustain an economic recovery. The Institute for Supply Management, a trade group of purchasing executives, said its manufacturing index read 55.9 in December after 53.6 in November. A reading above 50 indicates growth. That is the fifth straight month of expansion and the

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-34768992103014500332010-01-04T08:55:00.001-08:002010-01-04T08:55:53.167-08:00

The stock market is jumping on the first trading day of the year following reports of stronger manufacturing activity around the world as well as a rise in oil prices. A U.S. trade group says Monday that manufacturing activity expanded faster than expected in December, while China's manufacturing industry expanded last month at the fastest rate in 20 months. A weakening dollar is boosting

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-7777897289942654182009-12-30T09:36:00.001-08:002009-12-30T09:36:10.576-08:00

U.S. online spending rose 5 percent to $27.12 billion from the start of November through Christmas Eve even though individuals spent slightly less than they did last year, according to data released by comScore on Wednesday. Adjusting for the impact of an additional shopping day between Thanksgiving and Christmas versus 2008, sales rose only about 3.5 percent, the analytics firm said. Sales of

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-2334083749826631502009-12-30T09:35:00.001-08:002009-12-30T09:35:38.378-08:00

Stocks fluctuated Wednesday as good news on manufacturing helped offset a decline in commodities prices. The market got support from a key economic indicator that signaled growth in the Midwest manufacturing industry for a third straight month. The Chicago Purchasing Managers Index rose to 60 in December from 56.1 in November. The report showed that production and new orders increased and

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-53676050435964680492009-12-29T11:01:00.000-08:002009-12-29T11:01:10.709-08:00

General Motors Co. is offering deep discounts on its remaining Saturn and Pontiac vehicles as it looks to move the leftover inventory of the soon-to-be-dead brands, according to a published report. The automaker will pay dealers $7,000 for every new Saturn or Pontiac left on their lot if the vehicle is moved to dealer-operated rental or service fleets, according to The Wall Street Journal, which

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-92074093673578796442009-12-29T11:00:00.001-08:002009-12-29T11:00:31.892-08:00

An unprecedented 22 percent of U.S. consumers said they did not finish their Christmas shopping this year as fewer discounts kept many wallets closed, according to a survey released on Tuesday. While nearly 63 percent said bigger deals were needed to loosen their purse strings, about 11 percent blamed bad weather that hit the U.S. East Coast and Midwest on the weekend before Christmas, according

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-69826271413495144212009-12-29T10:59:00.003-08:002009-12-29T10:59:49.797-08:00

Stocks fluctuated in a narrow range Tuesday after reports on home prices and consumer confidence came in largely as expected, showing a gradual improvement in the economy. Major indexes had risen modestly in the early going, but were mixed in afternoon trading as the dollar strengthened and tugged on commodities prices. A stronger dollar makes commodities more expensive for foreign buyers.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-88919482118379442832009-12-29T10:59:00.001-08:002009-12-29T10:59:21.357-08:00

A more upbeat outlook on jobs pushed Americans' confidence in the economy higher in December for the second month in a row, a survey released Tuesday said. Consumers' expectations for the job market over the next six months reached their highest level in two years, but Americans remain gloomy about their current prospects. Meanwhile, a closely watched home price index released Tuesday showed

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-44804639615577408182009-12-28T13:59:00.002-08:002009-12-28T13:59:53.423-08:00

Oil prices rose above $79 barrel Monday for the first time in four weeks as an extended cold snap triggered an end-of-year rally in energy futures. Benchmark crude for February delivery added 72 cents to settle at $78.77 a barrel in light, holiday trading on the New York Mercantile Exchange. Prices rose as high as $79.12 earlier in the day, the highest since Nov. 18. Futures contracts for oil,

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-37835537018504638322009-12-28T13:59:00.000-08:002009-12-28T13:59:09.220-08:00

Amazon.com said Monday that its Kindle e-reader has become the most gifted item in the company's history, but didn't provide specific sales numbers. The company said the Kindle, Apple's 8GB iPod touch, Garmin's nuvi 260W personal navigation device, and the BlackBerry Bold were among the most popular gadgets that customers purchased during the holiday shopping season this year. The online retail

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-56014824850890914282009-12-28T13:57:00.001-08:002009-12-28T13:57:32.935-08:00

Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009. Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy. Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-44801851301713364202009-12-28T07:38:00.001-08:002009-12-28T07:38:08.963-08:00

Audi AG said Monday it plans to spend euro7.3 billion ($10.51 billion) on plant upgrades, new products and technology research as it moves to expand its number of customers worldwide and increase market share. Audi, based in Ingolstadt, and a unit of Volkswagen AG, said it plans to spend that amount from 2009 to 2012 and will increase the number of models from its current 34 to a planned 42 by

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-84295374403887448212009-12-28T07:37:00.001-08:002009-12-28T07:37:35.238-08:00

Holiday shoppers spent a little more this season, according to data released Monday, giving merchants some reason for cheer. The spending bounce means retailers managed to avoid a repeat of last year's disaster even amid tight credit and double-digit unemployment. Profits should be healthier, too, because stores had a year to plan their inventories to match consumer demand and never needed to

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-56934367178346584342009-12-24T14:03:00.001-08:002009-12-24T14:03:54.787-08:00

Shoppers appear to have given the nation's stores a needed last-minute sales surge. Early readings from Toys R Us, Sears Holdings Corp. and several mall operators show packed stores on Christmas Eve following a busy week fueled by shoppers who delayed buying, waiting for bigger discounts that never came or slowed by last weekend's big East Coast snowstorm. Stores are counting on these

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-61548676868800825842009-12-24T14:02:00.001-08:002009-12-24T14:02:58.755-08:00

The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac. The Treasury Department said Thursday it removed the $400 billion financial cap on the money it will provide to keep the companies afloat. Already, taxpayers have shelled out $111 billion to the pair, and a senior Treasury official said losses are not expected to exceed the government's estimate

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-60246250699922320112009-12-18T10:07:00.001-08:002009-12-18T10:07:47.196-08:00

In a reversal of earlier gains, more states lost jobs than added them in November, signaling that hiring is occurring only sporadically around the country. Unemployment rates dropped in 36 states and the District of Columbia, but that trend appeared to reflect more people leaving the work force. Unemployed people who stop looking for jobs out of frustration aren't counted in the labor force.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-6384693848201734972009-12-16T09:24:00.003-08:002009-12-16T09:24:58.024-08:00

A research firm says holiday sales rose 1.1 percent last week compared with last year, as consumers are spending more after a post-Thanksgiving lull. For the week ending Saturday, sales are up 18.2 percent from the previous week, when many shoppers took a break after the busy Thanksgiving shopping weekend. ShopperTrak RCT Corp., a Chicago research firm that tracks sales at more than 50,000

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-46335872848440617392009-12-16T09:24:00.001-08:002009-12-16T09:24:27.325-08:00

A benign reading on consumer inflation boosted stocks as concerns eased that the Federal Reserve will be forced to raise interest rates. Consumer prices excluding food and energy were flat in November, signaling that inflation isn't working its way into the economy. It was the first time that "core" inflation was unchanged after 10 monthly increases. Meanwhile the Commerce Department said

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-91669357507679297282009-12-15T11:42:00.001-08:002009-12-15T11:42:31.168-08:00

U.S. home buyers are less willing to buy foreclosed properties than they were six months ago, citing risks like hidden costs, but demand could grow because of the government's expanded tax credit, a survey showed on Tuesday. A continued drop in demand for the glut of foreclosed properties would add a fresh layer of pain to a housing market just emerging from a three-year nosedive. The

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-58695160790579560632009-12-15T11:41:00.003-08:002009-12-15T11:41:37.930-08:00

Evidence that the economic rebound could eventually raise inflationary pressures emerged in a report Tuesday that wholesale prices surged last month. Most economists aren't worried, though. They think the economy remains too weak for the price increases to last. The Federal Reserve began a two-day meeting Tuesday and is likely weighing the higher-than-expected wholesale inflation. Should

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-21812788998872148832009-12-15T11:41:00.001-08:002009-12-15T11:41:08.467-08:00

The stock market zigzagged in a tight range Tuesday after wholesale inflation rose more than expected in November, led by a surge in energy costs. The increase likely will be discussed as Federal Reserve policymakers begin a two-day meeting on interest rates. The Fed is expected to keep rates unchanged when it releases a policy statement following the meeting Wednesday. The Labor Department

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-53914822387163333292009-12-10T10:17:00.001-08:002009-12-10T10:17:44.215-08:00

Unions leaders, among the most passionate backers of President Barack Obama's health care overhaul, pressed Democratic senators Thursday to drop a tax on high-value insurance plans to pay for remaking the nation's system. As the Senate entered its 11th straight day of debate on the sweeping legislation, members of several labor unions denounced the proposed tax on so-called "Cadillac plans,"

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-32755535994926089222009-12-10T10:16:00.001-08:002009-12-10T10:16:32.517-08:00

The stock market rose Thursday as an improvement in the nation's trade deficit offset a weaker-than-expected reading on jobs. The Commerce Department said a surge in exports helped narrow the trade deficit in October to $32.9 billion. Economists had been expecting an increase. The rise in exports was driven by a weaker dollar, which helps boost overseas demand for U.S. exports. The increase in

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-30802613188126885132009-12-10T10:15:00.001-08:002009-12-10T10:15:52.233-08:00

Goldman Sachs Group Inc.'s top executives will not receive cash bonuses this year, as the Wall Street giant bows to sharp criticism over its pay practices. The executives will instead receive stock that cannot be sold for at least five years, the New York-based bank said Thursday. The majority of compensation for Goldman's senior management has traditionally been paid out in year-end bonuses.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-27266282965960652382009-12-07T09:49:00.002-08:002009-12-07T09:49:47.901-08:00

World oil prices sank under 75 dollars per barrel on Monday, falling in line with other commodity markets, as traders took their cue from a stronger dollar, dealers said. New York's main contract, light sweet crude for January delivery, dipped 99 cents to 74.48 dollars a barrel. Brent North Sea crude for January delivery shed 72 cents to 76.80 dollars per barrel. "Crude oil markets slipped

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-66796719418430837122009-12-07T09:49:00.000-08:002009-12-07T09:49:06.093-08:00

Dubai World, the cash-strapped conglomerate at the center of Dubai's debt crisis, appears set for an unaccustomed period of retrenchment after the emirate's top finance official said Monday the company may need to change course and unload assets as it struggles to pay back lenders. What eventually gets sold remains uncertain. Clearer is the city-state's position that the government itself won't

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-89664795306761076462009-12-07T09:48:00.001-08:002009-12-07T09:48:27.453-08:00

Stock indexes edged higher Monday as investors tried to predict when interest rates might start rising. Commodities including gold and oil fell, while Treasury prices rebounded from a slide last week. The dollar slipped against other currencies ahead of comments from Federal Reserve Chairman Ben Bernanke, who is scheduled to speak at an afternoon gathering of the Economic Club of Washington.

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-83826059797314863102009-12-04T18:36:00.001-08:002009-12-04T18:36:45.521-08:00

General Electric Co. has promised to buy at least $345 million in advertising from NBC Universal over five years after selling a controlling stake in the entertainment company to Comcast Corp., according to a regulatory filing Friday. GE pledged to buy at least $59 million worth of ads in the new NBC Universal each year for five years after the sale of a 51 percent stake to Comcast, expected to

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-36332812993458525062009-12-04T18:35:00.003-08:002009-12-04T18:35:57.863-08:00

Care Investment Trust Inc., a real estate investment trust that invests in healthcare-related real estate and commercial mortgage debt, said Friday that Salvatore Riso Jr. had become chief executive officer. Riso replaced F. Scott Kellman, who informed the company's board that he would resign at the end of the day Friday. Riso had served as the company's secretary and chief compliance officer

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-67100840785668398102009-12-04T18:35:00.001-08:002009-12-04T18:35:20.518-08:00

Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates. Stocks closed higher Friday but only after giving up much of their earlier gains. Indexes touched new highs for year in the morning following news that job cuts fell sharply in November, but that report also brought expectations that the Federal Reserve could hike

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-1022163110319737942009-12-03T09:53:00.000-08:002009-12-03T09:53:02.441-08:00

The tally of newly laid-off workers seeking unemployment benefits fell unexpectedly for the fifth straight week, a hopeful sign that the job market is slowly improving. Still, claims remain above the levels that most analysts say would be consistent with an economy that is adding jobs. The unemployment rate is at 10.2 percent and expected to keep climbing into next year. First-time claims for

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-86213141397892692862009-12-03T09:52:00.002-08:002009-12-03T09:52:34.791-08:00

Making a case for a second term as head of the Federal Reserve, Ben Bernanke said Thursday that he has the tools and the political backbone necessary to reel in massive economic support once the recovery is firmly rooted. While widely crediting with helping keep the Great Recession from becoming a second Great Depression, Bernanke faces enormous anger from both Congress and the public for

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-55264395241592541372009-12-03T09:52:00.000-08:002009-12-03T09:52:03.532-08:00

Investors didn't make any big bets on stocks after a weak snapshot of the service industry revived worries about the economy's ability to recover. Major stock indicators traded mixed Thursday after the Institute for Supply Management said its index of activity in the service industry fell to 48.7 in November from 50.6 in October. That's well below the 51.5 figure analysts had been expecting and

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-85911523430076363052009-12-03T09:51:00.001-08:002009-12-03T09:51:39.194-08:00

The nation's retailers posted a surprise sales decline for November after two consecutive months of gains, as a modestly positive start to holiday shopping wasn't strong enough to offset weak spending the rest of the month. The 0.3 percent decrease, according to one measure, is especially worrisome because it comes on top of a freefall last November as spooked shoppers went into a defensive

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-10444708145357144502009-12-02T15:11:00.003-08:002009-12-02T15:11:49.330-08:00

Unemployment worsened or stayed the same in most metro areas in October, the Labor Department said Wednesday, as jobs remained scarce nationwide. The report comes a day before the Obama administration is to hold a "jobs summit" at the White House that will gather economists, academics and corporate executives to consider how the government can spur job creation. The jobless rate rose in 162 of

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-36328142803392761772009-12-02T15:11:00.001-08:002009-12-02T15:11:19.445-08:00

The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in bank and energy stocks. Most stocks finished higher after the Fed said regional economic activity has generally improved since its last snapshot in October. The central bank said consumers have increased spending even as employment and commercial real estate

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-47699552546256675282009-12-02T15:10:00.001-08:002009-12-02T15:10:44.880-08:00

Bank of America Corp. said Wednesday it plans to repay its $45 billion in government bailout funds in the next few days, a move that will help the troubled bank recruit a new CEO. The bank said in a statement it would use available cash and raise $18.8 billion in capital to repay the money, which it received during the height of the credit crisis last year and after its purchase of Merrill Lynch

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-70998053453818650462009-12-01T15:14:00.001-08:002009-12-01T15:14:47.389-08:00

U.S. auto sales struggled to gain ground in November and big improvements aren't expected until people stop worrying about losing their jobs. Sales were flat compared to last November, according to Autodata Corp. Even higher incentives couldn't push the needle much beyond the dismal lows seen a year ago, when a credit freeze and the financial meltdown kept car buyers at home. Fuel-efficient

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-23403296362900778662009-12-01T15:13:00.000-08:002009-12-01T15:13:34.990-08:00

General Motors Co. CEO Frederick "Fritz" Henderson stepped down Tuesday after the board determined that the company wasn't changing quickly enough. Chairman Ed Whitacre Jr. said at a hastily called news conference that he will serve as interim CEO, and an international search for a new CEO and president is planned. Whitacre thanked Henderson for his work during a period of challenge and change

RKLnoreply@blogger.com0tag:blogger.com,1999:blog-7625306458645028905.post-16241176360916352212009-12-01T15:12:00.000-08:002009-12-01T15:12:16.608-08:00

The stock market is picking up where it left off before its scare over debt problems in Dubai. Major stock indicators rose more than 1 percent Tuesday, including the Dow Jones industrial average, which added 126 points and traded above 10,500 for the first time since October of last year. A weaker dollar again boosted stocks, a pattern that has played out for months. The cheaper U.S. currency

RKLnoreply@blogger.com0