Daily News Channel
Hey Morgan Stanley, dost thou protest too much? The financial firm was the first to announce this week that it was among the ten banks approved to repay $68 billion in rescue money the companies had received from the Treasury Department last October. Since then, executives of Morgan have said that they thought the Stress Test was “appropriate” and that the financial crisis has bottomed.
“Buy Local”—you see the decal in the store window, the sign at the farmer’s market, the bright, cheerful logos for Local First Arizona, Think Boise First, Our Milwaukee, and homegrown versions across the states.
If you prefer to keep the image of meat — say, a juicy hamburger — safely separated from the image of an actual animal — say, a 1,200-lb. castrated bull — then cow-pooling is not for you
Americans are spending less; no surprise there.
So here’s a bit of counterconventional wisdom: The only person who has consistently been right about the disastrous AOL–Time Warner merger was its architect, Steve Case. I pause here to duck the shoes being hurled by my co-workers … But it’s true.
British Airways posted the airline’s worst annual loss since its privatization in 1987 as its chief executive declared there were "absolutely no signs of recovery" in the industry. The airline slumped from profit to loss in the last financial year. During the year ended March 31, its operating loss swelled to £220 million ($348 million) from a restated profit of £878 million ($1.4 billion) in 2008.
The economy is losing between 600,000 and 750,000 jobs every month by every measure that the government and analysts use.
At last month’s glitzy Shanghai auto show, held in the only significant car market in the world that’s still growing, Nick Reilly, the president of GM Asia-Pacific, knew the question would come. Still, he winced a bit when a Chinese journalist asked him what would happen to Detroit’s fallen giant if it was forced by the U.S. government to declare bankruptcy
We know a fair amount about South Africa’s new President as a man. Jacob Zuma has six wives and 19 children, and he has been tried for rape and corruption
If you want to stare deep into the crater of the world economy, look at the largest public company listings over the past year. By May 2008, a U.S