Finance

23
Aug
Less troubled banks in the US

The Federal Deposit Insurance Corp has started tracking fewer banks in the April-June quarter, managing the first quarterly drop reported in the last five years. On the other hand bank earnings have reported a slower growth showing that the financial industry was struggling to cope with the weak economy. On Tuesday the FDIC announced 865 banks had been present on their confidential "problem" list in the second quarter. These banks were... [read news]

17
Aug
Abercrombie & Fitch wants the deal with "Jersey Shore" off

The teen clothing retailer Abercrombie & Fitch is desperately trying to get away from a situation they find undesirable. A news release published on Tuesday stated the retailer wanted to pay the cast members of MTV's popular show "Jersey Shore" to stop wearing its clothes. The reason is that the company’s officials are concerned Michael Sorrentino "could cause significant damage" to the brand's "aspirational nature." "Jersey Shore" is a... [read news]

15
Aug
Warren Buffet wants higher taxes for America's rich

While he was doing his best in order to accumulate one of the biggest fortunes the world has ever seen, Warren Buffet did his best in order to show himself different from other rich and powerful men out there. He ignored the call of fancy, expensive cars and mesmerizing mansion, instead preferring a modest home located in Omaha, Nebraska. While others went to fancy restaurants and ate exquisite meals, Warren Buffet was happy with his burgers... [read news]

11
Aug
Billionaire George Soros hit with a lawsuit

A Brazilian soap opera star has accused George Soros, one of the most renowned billionaires, of breaking her heart and going back on his promise to give her an Upper East Side apartment worth $1.9 million as a gift. The New York Post announced on Thursday that the woman has filed a lawsuit against Soros. The trial will take place at the Manhattan Supreme Court where 28 year old Adriana Ferreyr filed a $50 million suit. The woman claimed that... [read news]

08
Aug
Stocks keep going down

After the United States lost the AAA credit rating with Standard & Poor's, stocks started plunging down on the first day of trading and the Dow Jones industrial average lost 300 points during its morning trading. After Standard & Poor made the dreaded announcement on Friday night, investors from the United States had been anxious to see Monday morning’s market opening. The situation is far from ideal considering the fact that leading stock... [read news]

05
Aug
The "Down" Jones industrial average lost 130 points

The Dow Jones industrial average managed to lose approximately 130 points on Friday during the midday trading. As a result investors everywhere are growing more and more concerned about the US economy and the international economy. The most pressing issues of the moment are the financial crises that shake the European countries and the fact that hiring in the U.S. is still going too slow. As a result the unemployment rate in America has not yet... [read news]

01
Aug
Who were the Dow Jones losers?

For those wondering what were the new developments in the stock market, below we will present the most important losses of last week. Among all stocks, 3M(MMM), Alcoa(AA), Exxon Mobil(XOM), EI du Pont de Nemours & Co(DD), Caterpillar(CAT) and General Electric(GE) distinguished themselves as the top losers. Although the situation was not as bleak for Microsoft(MSFT) and International Business Machines(IBM), the two stocks also closed with some... [read news]

28
Jul
Nintendo lowers annual forecast

The world’s largest videogame maker, Nintendo, has surprised all analysts and decided to lower its annual profit outlook. Moreover the company announced it planned to discount its 3DS devices in an attempt to turn users over the casual online games. On Thursday Nintendo announced it had recorded losses of 25.5 billion yen during the three month prior to June 30. Moreover, the company’s sales fell 50 percent as compared to 2010. As a result... [read news]

26
Jul
Ford profit exceeds expectations

The quarterly profits reported by Ford Motors Co. managed to exceed all Wall Street expectations due to the fact that North America enjoyed higher vehicle sales and the prices for cars such as Focus and Fiesta increased globally. Ford was the only U.S. automaker that decided not to accept a governmental bailout in 2009. That seemed to be a good move considering that fact that now the company has managed to record net profits for eight straight... [read news]

22
Jul
Borders stores may be saved

On Thursday, a bankruptcy judge came forth and approved the plan made by Borders Group to sell their assets with the help of a group of liquidators. Judge Martin Glenn of the U.S. Bankruptcy Court of the Southern District of New York gave a green light to Borders’ plan to summon a group of liquidators that will be led by Hilco Merchant Resources and Gordon Brothers Group. The group of liquidators is planning to sell the company’s assets.... [read news]


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