SEC Chief Mary Schapiro: The Watchdog’s New Teeth
By Maria Bartiromo As the dimensions of the financial crisis grew ever larger, the effectiveness of the Securities & Exchange Commission grew ever more dubious.
Archive for May, 2009
Some Insurers Wary of Treasury Bailout; Ameriprise Declines Funds
By David S. Hilzenrath Ameriprise Financial, one of six life insurers offered federal bailout funds Thursday, said yesterday that it is turning down the money.
GM Follows in Chrysler’s Footsteps
By sara.behunek – The Big Money Topping today’s business press is the first round of dealership cuts coming from beleagured car maker General Motors (GM), news that comes on the heels of sweeping closures announced for Chrysler dealerships.
Barclays leads the FTSE higher on $10bn disposal talk
Barclays is leading the way forward on reports it was planning to sell its asset management arm to US group Blackrock for up to $10bn.
China data to show sharp drop in foreign direct investment
By Chris Oliver, MarketWatch HONG KONG (MarketWatch) — Investment by foreign companies into China reportedly fell sharply in April, extending a downtrend seen since the start of the year as the financial turmoil crimped spending on factories, …
GM Nears Crucial Deal With UAW
By JOHN D. STOLL General Motors Corp., under the direction of the US Treasury, is near a deal that would cut its hourly labor costs by more than $1 billion a year and reduce its $20 billion pledge to the United Auto Workers to cover health-care …
Wal-Mart vs. Whole Foods
Tough times have hurt high-end grocers like Whole Foods more than discounters like Wal-Mart. But the organic chain may be adjusting better than many expected By Ben Steverman In 2008, as the recession deepened, shares of high-end grocer Whole Foods …
Hate goes viral on social network sites – report
By Claudia Parsons NEW YORK, May 13 (Reuters) – Militants and hate groups increasingly use social networking sites such as Facebook, MySpace and YouTube as propaganda tools to recruit new members, according to a report by the Simon Wiesenthal Center.
Seagate Technology to cut 1100 jobs
Hard disk drive and storage company Seagate Technology plans to cut about 1100 more jobs, or 2.5 percent of its work force. The Scotts Valley, Calif.
US gold ends up on ETF buying amid safe-haven bids
NEW YORK, May 13 (Reuters) – New York gold futures ended higher on Wednesday after hitting a six-week high, supported by buying by gold-backed exchange-traded funds and alternative-investment demand amid losses on Wall Street, traders said.