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| No requiem for the desktop: Apple's designs help revive the fading platform
December 14, 2009 at 8:20 pm
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| Filed under: Apple  In our mobile world over which laptops and smartphones increasingly rule, desktops are starting to go the way of eight-track tapes and rotary-dial phones. No one, apparently, bothered to tell Apple (AAPL) -- or its loyal customers. The company posted better-than-expected sales for its computers in October and November, thanks largely to the strength of its desktop models, says prominent analyst Gene Munster of investment bank Piper JaffrayTech.
Citing figures from sales tracker NPD Group, the noted Apple bull said sales of Mac computers for the the two months are running roughly 21% over the same period last year, well ahead of Wall Street's 14% consensus estimate for sales growth. The new iMac and Mac mini units seem to be leading the charge, with the sales of these and other Apple desktop products up 74% in unit volume year-over-year for the third quarter thus far, Munster says.Continue reading No requiem for the desktop: Apple's designs help revive the fading platform No requiem for the desktop: Apple's designs help revive the fading platform originally appeared on DailyFinance on Mon, 14 Dec 2009 20:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Chase backlash: 1,000 homeowners protest at bank's Manhattan HQ
December 14, 2009 at 6:30 pm
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| Filed under: Company News, Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co., Real Estate  An estimated 1,000 representatives of the Neighborhood Assistance Corporation of America (NACA) paid a visit on Monday morning to JPMorganChase (JPM) CEO Jamie Dimon. Carrying signs reading "Chase Get On the Bus," "Chase Say Yes," and "Don't CHASE Us Out of Our Homes," the protesters briefly occupied the lobby of 1 Chase Plaza, in New York's financial district, where the company has offices.Continue reading Chase backlash: 1,000 homeowners protest at bank's Manhattan HQ Chase backlash: 1,000 homeowners protest at bank's Manhattan HQ originally appeared on DailyFinance on Mon, 14 Dec 2009 18:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Wall Street tries to make nice with Obama
December 14, 2009 at 6:15 pm
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| Filed under: Economy, Goldman Sachs , Bank of America, Citigroup  After President Obama smashed Wall Street for being out-of-touch "fat cats" on 60 Minutes over the weekend, the bankers tried to mend fences during a meeting at the White House on Monday.
Whether any detente will last is not clear. Obama, whose coolness under pressure was legendary during the campaign, clearly was annoyed with the banks for failing to do enough to jump start the economy after U.S. taxpayers spent hundreds of billions of dollars rescuing them, and he urged them to lend more to small-and mid-sized businesses and to do more to help homeowners in danger of losing their homes.Continue reading Wall Street tries to make nice with Obama Wall Street tries to make nice with Obama originally appeared on DailyFinance on Mon, 14 Dec 2009 18:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| ETFs: Is today's Wall Street trend destined to disappoint?
December 14, 2009 at 6:00 pm
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| Filed under: Investing  Exchange-traded funds have never been more popular. And no wonder: They're passively managed, which makes them as cheap as indexed mutual funds, but they trade all day long, like stocks. And they tend to be more tax advantaged than mutual funds, given that ETFs very rarely kick off capital gains distributions.
But Wall Street greed might make ETFs the next good investment vehicle to go bad. And several high-powered advisors and analysts see the table being set for investor disappointment.
Continue reading ETFs: Is today's Wall Street trend destined to disappoint? ETFs: Is today's Wall Street trend destined to disappoint? originally appeared on DailyFinance on Mon, 14 Dec 2009 18:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Promising new developments on the breast cancer front
December 14, 2009 at 5:30 pm
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| Filed under: Company News, Technology, Healthcare, Sanofi Aventis, GlaxoSmithKline  The San Antonio Breast Cancer Symposium, held Dec. 9-13, brought mostly good news for breast cancer patients and drugmakers. And that's a welcome development: Aside from non-melanoma skin cancer, breast cancer is the most common form of cancer in women and the second-leading cause of cancer death in women. Estimates for 2009 put the number of new cases at over 192,000 women and nearly 2,000 men, with over 40,000 deaths in women and 440 in men, according to the American Cancer Society. Here's a wrapup of significant reports from the symposium.Continue reading Promising new developments on the breast cancer front Promising new developments on the breast cancer front originally appeared on DailyFinance on Mon, 14 Dec 2009 17:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Global LCD TV growth makes Corning shares look sharp
December 14, 2009 at 5:00 pm
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| Filed under: Investing, Stock Picks  Not everyone has a flat-panel LCD TV. It just seems that way, and that makes shares in Corning (GLW), the leading manufacturer of the glass that goes into those TVs, look like a bargain.
Jefferies & Co. analyst George Notter initiated coverage of Corning late last week with a buy rating, saying he believes the Street is underestimating the potential size and trajectory of LCD panel shipments over the longer term. The analyst estimates that manufacturers have shipped roughly 490 million flat-panel TVs globally since the market for such goodies emerged, but that's just a fraction of the 1.5 billion TVs out there, most of which are still the old CRT kind.Continue reading Global LCD TV growth makes Corning shares look sharp Global LCD TV growth makes Corning shares look sharp originally appeared on DailyFinance on Mon, 14 Dec 2009 17:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Should the Fed spend $2 trillion more to jump start job creation?
December 14, 2009 at 4:30 pm
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| Filed under: Economy  New York Times (NYT) columnist Paul Krugman (pictured), an economist by training, an Ivy League academic by profession, and no stranger to bold proposals, has offered another big idea, recommending that the U.S. Federal Reserve double its already record-high balance sheet.
Krugman wants the Fed to buy another $2 trillion in assets to make more credit available, something Krugman argues will help the U.S. economy grow faster and create more jobs, which the nation really needs. Currently, the Fed's balance sheet is $2.17 trillion.Continue reading Should the Fed spend $2 trillion more to jump start job creation? Should the Fed spend $2 trillion more to jump start job creation? originally appeared on DailyFinance on Mon, 14 Dec 2009 16:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks gain ground as energy stocks rally on Exxon Mobil's $31 billion deal
December 14, 2009 at 4:15 pm
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| Filed under: Investing  Easing concerns over global credit problems and more signs of corporate dealmaking are giving stocks a moderate boost. Major stock indexes rose less than 1% in late afternoon trading Monday following news that Abu Dhabi had extended $10 billion to Dubai to help the Middle Eastern city-state stay afloat. Markets had been worried in recent weeks that debt problems in the struggling former boomtown could send ripples through global credit markets.
Investors were also encouraged by Exxon Mobil's (XOM) $31 billion purchase of XTO Energy (XTO), which sent energy stocks sharply higher. The deal will help Exxon tap into the growing supply of natural gas in the U.S. and could signal more consolidation in the energy industry.Continue reading Stocks gain ground as energy stocks rally on Exxon Mobil's $31 billion deal Stocks gain ground as energy stocks rally on Exxon Mobil's $31 billion deal originally appeared on DailyFinance on Mon, 14 Dec 2009 16:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Sources of Productivity: Accenture cuts the waste from clients' IT budgets
December 14, 2009 at 3:30 pm
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| Filed under: Company News, Technology  U.S. productivity grew 8.1% in the third quarter, the Labor Department told us last week. In the short term, that's great news for company profitability, but bad news for workers. In the medium term, though, higher productivity is good for both companies and workers, because if demand starts to grow, companies will still need to hire more workers to meet that demand. But where does increased productivity come from? The second post of this three-part series focuses on another company that shows its clients how to be more efficient.
As I explained in my first installment of this series, application portfolio management (APM) is a consulting process that helps companies get more out of their information technology spending. Accenture (ACN) calls its APM process Application Portfolio Optimization and Renewal. I spoke with Adam Burden, global managing director at Accenture, who said that APOR's theme is simple: "Companies have bloated application portfolios that collect debris from years of investment." Continue reading Sources of Productivity: Accenture cuts the waste from clients' IT budgets Sources of Productivity: Accenture cuts the waste from clients' IT budgets originally appeared on DailyFinance on Mon, 14 Dec 2009 15:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| John Hussman: Stocks are priced to disappoint for a decade
December 14, 2009 at 1:30 pm
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| Filed under: Investing  It's not hard to find folks who think stocks are way too expensive relative to their earnings prospects, perhaps even matching tech-bubble levels. But when John Hussman says shares are priced to disappoint, intelligent investors would do well to pay attention.
Hussman's hardly a household name, but the highly successful money manger's funds -- Hussman Strategic Growth (HSGFX) and Hussman Strategic Total Return (HSTRX) -- have delivered annualized returns of 8.6% and 7.9%, respectively, since their 2000 and 2002 debuts. (They're cheap, too: The growth fund's net expense ratio comes to 1.09%, while total return charges just 0.79%.)Continue reading John Hussman: Stocks are priced to disappoint for a decade John Hussman: Stocks are priced to disappoint for a decade originally appeared on DailyFinance on Mon, 14 Dec 2009 13:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Wall Street Journal versus New York Times: It is so on!
December 14, 2009 at 12:40 pm
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| Filed under: People, Media, New York Times Co., News Corp.  Tensions between The New York Times and The Wall Street Journal are on the rise as the two papers increasingly compete for the same pool of general-interest and local-market readers. A column by Times media critic David Carr accusing the Journal of slanting its news coverage in the conservative direction favored by owner Rupert Murdoch has drawn a sharp response from the Journal's managing editor, Robert Thomson -- who offers a pretty stinging accusation of his own.
Thomson says the article by "a Mr. David Carr" constitutes "yet more evidence that The New York Times is uncomfortable about the rise of an increasingly successful rival while its own circulation and credibility are in retreat." He criticizes Carr for relying on "a succession of anonymous quotes and unsubstantiated assertions" to make his case.Continue reading Wall Street Journal versus New York Times: It is so on! Wall Street Journal versus New York Times: It is so on! originally appeared on DailyFinance on Mon, 14 Dec 2009 12:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| People@Work: Social media's a boon for job seekers, but keep a sharp resume too
December 14, 2009 at 12:15 pm
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| Filed under: Columns, Economy, People  Perhaps you've heard the one about the guy who sent a single "tweet" and got a job? It's pretty entertaining, but it's no joke. Freelance graphic designer Hal Thomas did just that in response to an ad posted by BFG Communications. The ad requested job candidates apply for the position with one message posted to social media network Twitter. Thomas' winning submission, which included a mock-up of a Wired magazine cover he created to showcase his talent, landed him the job and created buzz within social media circles.
As social media sites such as Twitter become increasingly popular, more and more such stories are likely to surface. New technology and networking methods are seemingly relegating cover letters and resumes to the dustbin of history. But does that mean job seekers should abandon the effort and expense it takes to create stellar cover letters and resumes?Continue reading People@Work: Social media's a boon for job seekers, but keep a sharp resume too People@Work: Social media's a boon for job seekers, but keep a sharp resume too originally appeared on DailyFinance on Mon, 14 Dec 2009 12:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| E-book rights for older books become newest battleground in publishing
December 14, 2009 at 12:00 pm
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| Filed under: Company News, Technology, Media  Any publisher worth its salt will tell you that the real money in the business doesn't come from the current bestsellers by Stephanie Meyer and James Patterson, but the backlist: that deep catalog of books that were published years ago. Titles like J.D. Salinger's 1951 novel The Catcher in the Rye help Bertelsmann Media's Random House division attract and keep today's marquee authors. Nielsen Bookscan, which measures approximately 75% of total retail sales, says Joseph Heller's 1961 Catch-22 has sold about 85,000 copies this year.Continue reading E-book rights for older books become newest battleground in publishing E-book rights for older books become newest battleground in publishing originally appeared on DailyFinance on Mon, 14 Dec 2009 12:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Citi's TARP payback is fine, but it's no solution
December 14, 2009 at 11:45 am
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| Filed under: Company News, Columns, Economy, Goldman Sachs , Citigroup  Today is Bash Wall Street day in Washington, as a herd of bankers gets rounded up to sit for a presidential tongue lashing. But Washington can't afford to alienate Wall Street too much because of the $5 billion in campaign contributions and lobbying fees that financial institutions have funneled to politicians in the last decade. So, today's announcement that Citigroup (C) will pay back the $20 billion in TARP funds is good for Citi's bonus-hungry bankers -- but not so great for America.
Before examining that repayment, let's explore the delicate relationship between Wall Street and Washington a bit more. The first thing to understand is that Wall Street isn't admired so much on Main Street -- 66% of Americans take a dim view of financial executives, according to Bloomberg News. Continue reading Citi's TARP payback is fine, but it's no solution Citi's TARP payback is fine, but it's no solution originally appeared on DailyFinance on Mon, 14 Dec 2009 11:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| In-store and online, shoppers get their holiday markdowns
December 14, 2009 at 11:30 am
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| Filed under: Company News, Technology, Economy, Amazon.com Inc.  The holiday shopping season is coming into crunch time. Halfway through Hanukkah and going into the final stretch of Christmas shopping, shoppers are still holding out. So get ready for some markdowns.
Despite the signs of economic improvement and the surprising pop in November sales, shoppers are not taking the bait. The Associated Press reported mall parking lots were full last weekend, but shoppers' bags were not.Continue reading In-store and online, shoppers get their holiday markdowns In-store and online, shoppers get their holiday markdowns originally appeared on DailyFinance on Mon, 14 Dec 2009 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| TARP may end soon, but the battle over banker pay goes on
December 14, 2009 at 10:45 am
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| Filed under: Company News, Economy, Investing, Goldman Sachs , American International Group, INC., Bank of America, Citigroup  While America's biggest banks may still be kicking and screaming about their need to make compensation decisions without interference, the bailouts they took from the government could impact their freedom to hand out excessive cash compensation for years to come. Even the hiring of a CEO for Bank of America (BAC) is proving a challenging negotiation, according to a report in the The Wall Street Journal Monday.
Bank of New York Mellon Chief Executive Robert Kelly has emerged as the front-runner to replace Kenneth Lewis, but the Journal reported that the pay package may be a deal-breaker. Even though Bank of America has paid back its TARP money, it remains sensitive to possible public outrage about its new CEO's compensation.Continue reading TARP may end soon, but the battle over banker pay goes on TARP may end soon, but the battle over banker pay goes on originally appeared on DailyFinance on Mon, 14 Dec 2009 10:45:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Obama takes Wall Street to the woodshed -- but will he follow through?
December 14, 2009 at 10:25 am
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| Filed under: People, Investing, JP Morgan Chase, Goldman Sachs , Bank of America On Sunday night's 60 Minutes, President Obama punched up  his ongoing rhetorical battle with Wall Street, declaring that "fat cat bankers" have shown little "shame" about their out-sized compensation packages. Today, investors will see if the leader of the free world backs up his words with deeds as Obama meets with top financial executives.
In the interview, Obama suggested that many banks are paying back their TARP money early solely to free themselves from government restrictions on pay. He used fairly strong language, in what appeared to be a nod to the populist outrage over Wall Street bailouts.Continue reading Obama takes Wall Street to the woodshed -- but will he follow through? Obama takes Wall Street to the woodshed -- but will he follow through? originally appeared on DailyFinance on Mon, 14 Dec 2009 10:25:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Update: Glenn Beck no longer a 'paid spokesman' for Goldline
December 14, 2009 at 10:10 am
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| Filed under: People, Media, News Corp.  When we last checked in on Glenn Beck, the baby-faced conservative host was being credited as a "paid spokesman" for Goldline, a gold-coin vendor, even as his employer, News Corp.'s (NWS) Fox News, was saying its personalities aren't allowed to make product endorsements. Clearly, something had to change.
And now something has. In response to inquiries from DailyFinance, Fox's legal department sent a letter to Beck's agent, George Hiltzik, laying out the network's position. Now, as The New York Times notes, Goldline has subtly reframed the nature of its relationship with Beck.Continue reading Update: Glenn Beck no longer a 'paid spokesman' for Goldline Update: Glenn Beck no longer a 'paid spokesman' for Goldline originally appeared on DailyFinance on Mon, 14 Dec 2009 10:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Exxon Mobil will buy natural-gas producer XTO Energy for $31 billion
December 14, 2009 at 9:40 am
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| Filed under: Energy, Company News, Technology, Exxon Mobil  Exxon Mobil (XOM) will buy XTO Energy (XTO) in an all-stock deal worth $31 billion as the oil giant moved aggressively Monday to capitalize on the growing supply of natural gas at home. The deal could signal a new rush to own natural gas assets by major integrated producers, and perhaps the start of a significant consolidation in the energy industry.
"Exxon is the group leader and it sets the trend. I would expect more acquisitions in the next three to six months," said Fadel Gheit, senior energy analyst for Oppenheimer. "Who that will be is the $64,000 question."Continue reading Exxon Mobil will buy natural-gas producer XTO Energy for $31 billion Exxon Mobil will buy natural-gas producer XTO Energy for $31 billion originally appeared on DailyFinance on Mon, 14 Dec 2009 09:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Buy anything: 2010 should be a can't-lose year for investors
December 14, 2009 at 9:30 am
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| Filed under: Investing  Now that Goldman Sachs has forecast that 2010 will be a good year for stocks (and if they expected a lousy year, do you think they'd announce it or just quietly sell?), it's official: All four widely held asset classes -- stocks, bonds, precious metals and real estate -- are expected to continue rising in unison.
The Fed has announced that interest rates will stay near-zero for the foreseeable future, bolstering bonds. Thanks to massive government support of the mortgage market, real estate has "turned the corner." And gold is believed by many analysts to be on its way to $1,350 at a minimum.Continue reading Buy anything: 2010 should be a can't-lose year for investors Buy anything: 2010 should be a can't-lose year for investors originally appeared on DailyFinance on Mon, 14 Dec 2009 09:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks in the news: Citigroup, Exxon Mobil, Google, Visa
December 14, 2009 at 9:10 am
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| Filed under: Company News, Investing, Exxon Mobil, General Electric , Google , Kraft Foods, Morgan Stanley , Bristol-Myers Squibb, Sun Microsystems, Comcast, Amazon.com Inc., Citigroup Citigroup Inc. (C) said Monday it is repaying $20 billion in bailout money of the $45 billion it received from the Treasury Department. Citi doesn't need to pay the remaining $25 billion, as the government has converted it into a 34% stake in the bank. Paying back the TARP money would help Citi at least reduce the government's influence over its actions, and give it more control over executive compensation. Citigroup shares dropped about 3.5% ahead of the bell. Exxon Mobil Corporation (XOM) will acquire XTO Energy Inc. (XTO) in a $31 billion all-stock agreement. The deal will boost Exxon's presence in the natural gas industry at a time of low prices for the commodity. Exxon Mobil shares declined 1.3% in pre-market trading; XTO's soared about 20%. Continue reading Stocks in the news: Citigroup, Exxon Mobil, Google, Visa Stocks in the news: Citigroup, Exxon Mobil, Google, Visa originally appeared on DailyFinance on Mon, 14 Dec 2009 09:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| E-commerce spending picks up speed
December 14, 2009 at 9:00 am
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| Filed under: Economy, Amazon.com Inc.  E-commerce sales for the holiday are doing so well that it is almost certain they will post a gain for the holiday season.
According to Comscore, the online research firm, "For the holiday season-to-date, $19.9 billion has been spent online, marking a 3% increase versus the corresponding days last year. The most recent week saw above average online spending growth of 4% versus a year ago, as two individual days surpassed $800 million in spending, led by Thursday, Dec. 10, with $852 million." Are the sales coming at the expense of "brick-and-mortar" stores, or are they really net sales that augment sales at retail locations? The trend is probably not good for conventional retailers. Continue reading E-commerce spending picks up speed E-commerce spending picks up speed originally appeared on DailyFinance on Mon, 14 Dec 2009 09:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Daily Blogwatch: Will AMZN be a trillion dollar company?
December 14, 2009 at 8:30 am
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| Filed under: Company News, Columns, Economy, Amazon.com Inc. Below are some of the best reads for investors around the web today:
Was Mary Kay, founder of Mary Kay Cosmetics, the first social networking entrepreneur? _____________ Does the age of a CEO have an affect on stock performance? _____________ Will Amazon (AMZN) reach a trillion dollar market cap? _____________ Continue reading Daily Blogwatch: Will AMZN be a trillion dollar company? Daily Blogwatch: Will AMZN be a trillion dollar company? originally appeared on DailyFinance on Mon, 14 Dec 2009 08:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks are poised for a higher start as Dubai gets bailed out
December 14, 2009 at 7:55 am
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| Filed under: Company News, Economy, Investing  U.S. stocks are set to open higher Monday morning after Dubai received a last-minute lifeline from neighboring Abu Dhabi, which lent it $10 billion on a day some debt was to expire. Meanwhile in the U.S., Citigroup announced it will repay its bailout funds.
Without much in the way of economic reports, investors are likely to concentrate on the banking sector, as many execs are meeting today with President Obama to discuss lending and compensation practices, as well as falling oil prices.
More here: Before the bell: Futures higher after Dubai's bailout, Citi repaying TARPStocks are poised for a higher start as Dubai gets bailed out originally appeared on DailyFinance on Mon, 14 Dec 2009 07:55:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Citigroup to repay $20 billion in bailout money
December 14, 2009 at 7:11 am
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| Filed under: Citigroup  Citigroup (C) said Monday it is repaying $20 billion in bailout money it received from the Treasury Department, in an effort to reduce government influence over the banking giant.
The New York-based bank was among the hardest hit by the credit crisis and rising loan defaults. It has received one of the largest bailouts of any bank during the financial crisis. The government gave it $45 billion in loans and agreed to protect losses on nearly $300 billion in risky investments.
Continue reading Citigroup to repay $20 billion in bailout money Citigroup to repay $20 billion in bailout money originally appeared on DailyFinance on Mon, 14 Dec 2009 07:11:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Abu Dhabi lifeline spurs recovery in Asian markets
December 14, 2009 at 7:00 am
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| Filed under: Economy, Investing  In Asia Monday, China's Shanghai Composite Index gained 1.7% to close at 3,303 and Hong Kong's Hang Seng Index added 0.8% to end the day at 22,086. In Japan, the Nikkei 225 Index was nearly unchanged, slipping 0.02% to 10,106. U.S. markets are also set to rise.
News that neighboring emirate Abu Dhabi will supply $10 billion to help Dubai pay off debts, which have rattled investors who fear that the enormity of the desert kingdom's debt would create a second wave of financial turmoil, sent shares in Dubai investors higher. Hong Kong-listed HSBC (HBC), a major lender to Dubai World, surged 1.7%. Standard Chartered (SCBFF), which Bloomberg reports has made $18 billion of loans in the Middle East, shot up 3.9%.Continue reading Abu Dhabi lifeline spurs recovery in Asian markets Abu Dhabi lifeline spurs recovery in Asian markets originally appeared on DailyFinance on Mon, 14 Dec 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| A miracle in the desert: Abu Dhabi bails out Dubai
December 14, 2009 at 5:00 am
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| Filed under: Economy  Just as it looked like Dubai might go into a default on some of its debts and have to complete a $26 billion restructuring with bondholders, neighbor nation Abu Dhabi has provided billions in much-needed financing. The move has spurred stock market rallies around the world.
Abu Dhabi put $10 billion into state-owned Dubai World and its real estate arm. Dubai's property development firm, Nakheel, will use about $4 billion of the capital to pay off bonds due this week. The balance will be used to help Dubai World restructure its debt.
Continue reading A miracle in the desert: Abu Dhabi bails out Dubai A miracle in the desert: Abu Dhabi bails out Dubai originally appeared on DailyFinance on Mon, 14 Dec 2009 05:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Greenspan sees a jobs rebound but also lingering tough problems
December 13, 2009 at 10:00 pm
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| Filed under: Economy  Alan Greenspan was famously tightlipped and difficult to decipher during his long tenure as chairman of the Federal Reserve Bank. But he held forth on topics ranging from the employment picture to the future independence of the Fed in an appearance Sunday on NBC's Meet the Press.
Greenspan said he expects jobs "to come back fairly quickly" since frightened businesses cut costs to the bone at the depths of the recession and can now barely keep up with demand. Despite a pickup in job creation, he warned that unemployment rates could stay high as discouraged workers reenter the workforce. He added that 100,000 jobs were needed each month simply to keep up with U.S. population growth.
Continue reading Greenspan sees a jobs rebound but also lingering tough problems Greenspan sees a jobs rebound but also lingering tough problems originally appeared on DailyFinance on Sun, 13 Dec 2009 22:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Google could have the iPhone team dialing 911
December 13, 2009 at 9:45 pm
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| Filed under: Company News, Technology, Google , Motorola, Apple, AT&T  In the heart of the holiday phone-buying season, AT&T (T) handed Google (GOOG) a fabulous present and partner Apple (AAPL) a lump of coal. Both were wrapped in one spectacular network failure. On Friday and parts of Saturday, AT&T's network went down in San Francisco, stranding thousands of the Web's most vocal and demanding iPhone users.
This came on the heals of another PR disaster when senior AT&T executives told analysts that the phone giant was trying to figure out how to "incentivize" heavy bandwidth users to use less of AT&T's unlimited data plan in order to improve network quality for all. Or as Fake Steve so aptly put it, AT&T was trying to figure out how to get its customers to buy less of its products.Continue reading Google could have the iPhone team dialing 911 Google could have the iPhone team dialing 911 originally appeared on DailyFinance on Sun, 13 Dec 2009 21:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments | | | 
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