NPR Topics: Business'Marketplace' Report: Broke Banks Wed, 27 Aug 2008 13:00:00 -0400
The number of shaky U.S. banks is at the highest level in about five years and bank profits plunged by 86 percent in the second quarter according to the Federal Deposit Insurance Corporation. Madeleine Brand talks to Marketplace's Bob Moon about how to keep your money safe.
A Battle To Be The Biggest Stadium Wed, 27 Aug 2008 13:00:00 -0400
For decades, University of Michigan's football stadium, known as "The Big House," has had the largest capacity of any venue in the country. An accessibility lawsuit is reducing its capacity, leaving the title to Penn State's Beaver Stadium. So Michigan is spending $226 million on improvements to include more seats.
Barbie's Maker Wins $100 M In Bratz Lawsuit Wed, 27 Aug 2008 12:51:00 -0400
A federal jury awarded $100 million to Mattel, maker of Barbie dolls, after a long-running legal battle with a smaller toy company, MGA, that sells Barbie's competitor. Mattel says the Bratz dolls' designer conceived the idea while on Mattel's payroll, meaning Bratz and their earnings should belong to Mattel. Mattel had sought nearly $2 billion.
Latest financial news - CNNMoney.comChrysler hints at sale of Dodge Viper Wed, 27 Aug 2008 18:42:05 -0400
Read full story for latest details.
State probes Goldman, Fidelity deal Wed, 27 Aug 2008 16:57:15 -0400
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Russia may lessen U.S. poultry imports Wed, 27 Aug 2008 15:55:46 -0400
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The Financial PageJames Surowiecki: What drives market volatility?James Surowiecki Mon, 25 Aug 2008 04:00:00 -0000
American investors are frazzled. True, oil prices have fallen from their most vertiginous highs, the dollar is a bit stronger, and the stock market has actually risen over the past month. But none of those things have happened in a smooth and steady fashion. The stock market’s “ascent,” in particular . . .
James Surowiecki: Too many stakeholders can be a deal-breaker.James Surowiecki Mon, 04 Aug 2008 04:00:00 -0000
In the second decade of the twentieth century, it was almost impossible to build an airplane in the United States. That was the result of a chaotic legal battle among the dozens of companies--including one owned by Orville Wright--that held patents on the various components that made a . . .
Rebecca Mead: Queen Claude's prayer book, at the Morgan Library.Rebecca Mead Mon, 28 Jul 2008 04:00:00 -0000
In May, a tiny, exquisite volume went on display at the Morgan Library & Museum: a prayer book made for Queen Claude of France, who was born in the penultimate year of the fifteenth century. Claude, a near-contemporary of Anne Boleyn, who served her at the French court as a . . .
Reuters: Business NewsThree Fannie Mae execs out, shares rally earlier Wed, 27 Aug 2008 18:52:31 -0400
NEW YORK (Reuters) - Fannie Mae , the biggest U.S. mortgage finance company, on Wednesday announced a shake-up of top executives, including the exit of its chief financial officer, in an effort to better implement a plan to preserve capital and cut losses.
Fed's Lockhart urges patience amid strained markets Wed, 27 Aug 2008 12:04:25 -0400
ATLANTA (Reuters) - The Federal Reserve must be "very vigilant" amid strained financial markets while exercising patience over interest rates as it waits for inflation to ease, a top Fed policy-maker said on Wednesday.
Man accused in extortion scheme blames Blackstone Wed, 27 Aug 2008 14:03:30 -0400
NEW YORK (Reuters) - A man accused of trying to extort millions of dollars from his son-in-law, an executive of the Blackstone Group LP, on Wednesday blamed the private equity firm for his "malicious" arrest and charges.
ABC News: MoneyMost Powerful Women: Not Just about $$ Wed, 27 Aug 2008 18:18:22 -0400
Clinton and Condi make the list but some others will surprise you.
FDIC Warns of More Bank Troubles Wed, 27 Aug 2008 18:04:29 -0400
The government insures depositors when banks fail, but does it have enough cash?
Barbie Shows Her Claws, Wins $100M Suit Wed, 27 Aug 2008 17:31:32 -0400
Mattel wins $100 million copyright case against makers of Bratz dolls.
BBC News | Business | UK EditionBritish workers 'fear job losses' Wed, 27 Aug 2008 23:07:15 -0000
More than one in 10 British workers fear they will lose their job in the next year, the TUC says.
Taylor Wimpey hit by massive loss Wed, 27 Aug 2008 17:28:02 -0000
Housebuilder Taylor Wimpey reports a £1.54bn loss for the past six months after having to reduce the value of assets.
Call for housing market 'rescue' Wed, 27 Aug 2008 11:52:15 -0000
A mortgage rescue scheme and councils buying unused land feature in a Liberal Democrat plan to revive the housing market.
The Economist: BusinessVirtual worlds: Thu, 21 Aug 2008 11:47:15 -0000
Lively, Google’s virtual world, has been a flopIT SOUNDED like a brilliant idea. Google, the internet giant, would bring 3-D virtual worlds to the masses by making them accessible through a web browser. Millions of people log into virtual worlds such as World of Warcraft and Second Life every day, but they require special software and their complexity can be daunting to newcomers. So Google’s launch of Lively, in July, seemed to have great potential. But in the weeks since it opened its virtual doors, Lively has remained surprisingly lifeless, hosting a dwindling number of users and prompting a string of negative reviews.Lively is a simple environment, amounting to little more than a series of 3-D chat rooms. To enter, you must first download and install a plug-in for your web-browser. You can then choose from a list of rooms, the most popular of which are (inevitably) themed around sex and dating. And although some popular rooms—“Love Sweet Love” and “Sexy Babes Club”—have had thousands of visitors, the number quickly drops into the double digits further down the list. Hardly anyone is using Lively. ...
Dealing with the downturn: Thu, 21 Aug 2008 11:47:15 -0000
Raising prices in straitened times calls for careful planningA COUPLE of years ago General Motors (GM), America’s biggest carmaker, swore it would no longer offer “employee discounts” on its vehicles. These large price cuts shrank bloated inventories, but they left buyers thinking that GM’s cars were worth far less than their list prices. Scrapping the discounts was part of ailing GM’s efforts to cure itself. But on August 19th the company reversed gear and reintroduced them, for a limited period, on nearly all its 2008 models and some 2009 ones.Although the move smacks of desperation, GM is not the only firm hoping that discounting can help it weather a sluggish global economy. On August 20th eBay, an online-auction site, said it would reduce the fees it charges sellers who post goods for sale on its site at a fixed price. The temptation in a downturn is to let prices slide to protect or increase market share. However, this approach can backfire if it triggers a price-cutting spiral. Moreover, managers often overestimate the extra sales that lower prices generate, so companies may be left worse off than before the cuts. That may help explain why a number of firms have been raising their prices, not cutting them—a trend that has contributed to a resurgence of inflation. ...
Jaguar Land Rover: Thu, 21 Aug 2008 11:47:15 -0000
Despite hard times for the makers of big cars, JLR is happy under its new ownerWHEN Ratan Tata claimed ownership of Jaguar Land Rover (JLR) from Ford in early June, one of the first visits he made was to the Jaguar heritage museum at the British firm’s old site near Birmingham. The 71-year-old Mr Tata recalled that his father had bought one of its first XK120 sports cars in the late 1940s. Not only was the museum able to dig out his father’s order from the archives, it also took the chairman of the Indian industrial conglomerate for a spin in a similar car. It was the kind of personal touch that both the tradition-steeped car firm, and its new owner, hope will characterise their relations.Those relations may undergo an early test. When Tata Motors bought JLR for about $2 billion, it looked like a good deal. Thanks to Ford’s transformation of Land Rover, JLR had made profits of $650m in 2007. With its well received new mid-sized saloon, the XF, even Jaguar, a perennial lossmaker under Ford, was close to turning the corner into profit. In the first quarter of this year JLR rang up profits of $421m. ...
Business News - UPI.comUPI NewsTrack Business Wed, 27 Aug 2008 18:30:51 -0400
Stocks get boost, crude oil rally cools ... Crude oil tops $118 in another slow day ... SEC looks toward international switch ... Durable sales up, expert sees problems... News from United Press International.
Crude oil tops $118 in another slow day Wed, 27 Aug 2008 17:57:39 -0400
NEW YORK, Aug. 27 (UPI) -- Crude oil prices closed at $118.27 a barrel Wednesday as the oil rally cooled a bit despite storm concerns in the Gulf of Mexico.
SEC looks toward international switch Wed, 27 Aug 2008 17:21:41 -0400
WASHINGTON, Aug. 27 (UPI) -- The U.S. Securities and Exchange Commission voted unanimously to seek public comment on requiring American companies to switch to international accounting.
Stocks get boost, oil rally cools Wed, 27 Aug 2008 17:00:03 -0400
NEW YORK, Aug. 27 (UPI) -- A strengthening financial sector helped boost U.S. stock indexes Wednesday as the storm-nervous crude oil rally cooled.
San Francisco sets up commuter plan Wed, 27 Aug 2008 15:12:03 -0400
SAN FRANCISCO, Aug. 27 (UPI) -- San Francisco Mayor Gavin Newsome has signed an ordinance requiring commuter benefit options for most employees.
Four-state Waffle group seeks bankruptcy Wed, 27 Aug 2008 14:47:01 -0400
NASHVILLE, Aug. 27 (UPI) -- The head of a Tennessee company that owns 113 Waffle House restaurants in four states says an inquiry is under way into his chief accountant's departure.
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