Financial News
|
Oil Falls First Time in 4 Days on Outlook for Economy, Supplies
(Bloomberg) 1-6-09 - Oil dropped for the first time in four days in New York on forecasts the economy will worsen, curtailing demand in the world’s biggest energy-consuming country.
|
Fed Policy Makers Saw ‘Substantial’ Risks to Economy
(Bloomberg) 1-6-09 - Federal Reserve policy makers saw “substantial” risks to the slumping economy last month as they cut the benchmark interest rate to a record low and pledged to expand emergency loans if necessary.
|
Alcoa to Reduce Capacity By 18%, Cut 13,500 Workers
(Bloomberg) 1-6-09 - Alcoa Inc., the world’s largest aluminum maker, announced its third production cut in as many months and said it will reduce its global workforce by 13,500 in response to declining demand and prices.
|
BofA CEO Wants No Bonus; Results Below Views: Report
(CNBC)06-01-09 Bank of America CEO and Chairman Kenneth Lewis is recommending that he and his top lieutenants receive no bonuses for 2008, saying he expects the bank's final results to be below expectations, according to a report from The Wall Street Journal, which cited an internal memo issued today.
|
Fed Feared Rate Cuts Wouldn't Be Enough For Economy
(CNBC)06-01-09 Federal Reserve officials feared the economy would be stuck in a painful rut for some time despite their decision to slash interest rates to a record low and pledge to use other unconventional tools to fight the worst financial crisis since the 1930s
|
Apple to Introduce Variable Pricing on iTunes Songs
(CNBC)06-01-09 Apple announced plans to roll out variable pricing on digital songs at the iTunes Music Store with songs priced between 79 cents and $1.29.
|
German Billionaire Commits Suicide After VW Losses
(CNBC)06-01-09 In killing himself German billionaire Adolf Merckle has become the latest casualty of the global financial crisis, his family saying on Tuesday he was broken by the struggle to salvage their business empire
|
Thain Strain? Merrill's Brokerage Chief Resigns
(CNBC)06-01-09 Robert J. McCann, the head of the brokerage division at Merrill Lynch, is leaving the firm. The announcement was made by John Thain, Merrill's chief executive and president of Bank of America's global banking. This comes just days after the completion of Merrill's acquisition by Bank of America.
|
GE Capital Launches $10 Billion FDIC-Backed Debt
(CNBC)06-01-09 General Electric's finance arm on Monday launched a $10 billion sale of FDIC-backed debt, the largest sale under the government guarantee program since its inception last November.
|
Best Buy Offers Used iPhones at Lower Price
(CNBC)06-01-09 Retailer Best Buy, seeking new ways to appeal to cost-conscious shoppers, said Tuesday it is selling refurbished versions of Apple's [APPL 92.0 --- UNCH (0) ] iPhone 3G at its stores that are priced about $50 less than new iPhones
|
Fed Focuses on Consumer, Corporate Rate Spreads Over Treasuries
(Bloomberg)06-01-09 -- Federal Reserve officials are focused on driving down the spreads between U.S. Treasury yields and consumer and corporate loans, after cutting the main interest rate to almost zero failed to revive lending.
|
Madoff Sons Reported Jewelry Violations to U.S., Lawyer Says
(Bloomberg)06-01-09 -- The sons of Bernard Madoff, who is accused of orchestrating a massive Ponzi scheme, told prosecutors last week that their father violated a court-ordered asset freeze by mailing them jewelry, watches and other items, his lawyer said
|
Why Russia's woes should worry you
(MSN)06-01-09 As financial markets and governments worldwide hope for a brighter year, one big country's troubles threaten to send the global economy tumbling into a deeper hole.
|
U.S. Stocks Retreat on Earnings Concern; AT&T, JPMorgan Decline
(Bloomberg) 1-5-08 - U.S. stocks fell for the first time in four days on concern that a slump in corporate profits will stretch into 2009, overshadowing speculation the government will revive the economy with tax cuts.
|
Congress looks for answers in Madoff scandal
(CNNMoney.com) 1-5-08 - Lawmakers ask how regulators missed the alleged $50 billion Ponzi scheme.
|
Ford U.S. sales fall 32.4 percent in December
(Reuters) 1-5-09 - Ford Motor Co (F.N) said on Monday its U.S. auto sales fell 32.4 percent in December, including all of its brands, as the U.S. auto industry suffered pressure from the downturn in the U.S. economy.
|
Surgery May Have Spurred Steve Jobs’s Weight Loss
(Bloomberg) 1-5-09 - Parts of Steve Jobs’s stomach, pancreas, bile duct and small intestine may have been removed to stop the spread of cancer. If so, the surgery may be fueling the Apple Inc. chief executive officer’s weight loss.
|
Disclaimer: Some of the news stories and articles posted on Investtalk.com contain authors’ recommendations and analyses. These views do not necessarily represent the views of KPP Financial and are to be used for general review of market topics only. You should consult a financial professional before making investment decisions.
|
