Sadly, President Obama, by persistently scolding BP and using inflammatory rhetoric, has done little to improve BP’s efforts to cap the well and mitigate the damage, or to foster effective cooperation between federal and state agencies that could improve those efforts.
The White House on Monday will issue new rules that strongly discourage employers from cutting health benefits or increasing the costs of coverage to employees, reports the NYT.
The White House this week will attempt to finally get right the President’s response to the oil spill in the Gulf of Mexico after a month of confusing messages, and the one tangible result could help to lower the temperature in both Washington and in the markets.
EU industrial production came in better than expected, which is helping to lift European and US stocks. Greece is up five straight days (a 9 percent rally), but other countries have seen significant gains in the last four days as well.
Congress allowed emergency health care assistance for unemployed workers to expire May 31, and seems unwilling to renew it despite pleas from President Barack Obama.
Traders began leaving the building, mentally and physically, just after noon ET Friday, but next week is one of the biggest weeks in a long time, on all fronts.
The US-UK spat over BP is a serious topic of discussion among traders. They are worried that this could get out of hand. They are worried that the meeting between the president and BP officials scheduled for next week will turn into another public humiliation of BP.
Retail sales disappoint, but some bright spots. May retail sales reports, down 1.2 percent versus consensus of 0.2 percent, were clearly a disappointment. Here's the breakdown.
S&P futures dropped 6 points on the disappointing U.S. May retail sales. But it was noted that building material sales were notably weak, down 9.3 percent, which may be due to the expiration of the homebuyer tax credit. Still, motor vehicle parts were down 1.7 percent, clothing sales were also down 1.3 percent. Sales up at restaurants, sporting goods, furniture. Elsewhere this week the news has been more positive...
According to the NYSE, the single-stock circuit breaker rollout will be completed by Wednesday. At that time, the new circuit breaker rules will have been applied to each of the 404 NYSE-listed S&P 500 stocks.
What's up with Goldman Sachs? Just another indication of headline risk. Why was GS the ONLY major financial stock down today, down 3 percent to a 52-week low?
In the absence of congressional action on climate change, the Senate is heading toward a much-watched vote on whether the Obama administration should be allowed to go ahead with regulations curtailing greenhouse gas emissions from power plants and other major polluters.
America must ramp up its investment in energy research and science, Xerox Chairman and CEO Ursula Burns told CNBC Thursday, her comments coming on the heels of a new plan for energy innovation released this morning by a group of the country’s top business leaders.
It is the season for economic forecasts, and I have been polled by several published surveys. Here is my response.
It's time for President Obama to skip the tough talk and take decisive action to clean up the BP oil spill in the Gulf of Mexico, says CNBC's Dennis Kneale.
Individual stock circuit breakers coming tomorrow (Friday). Sources tell me the SEC will announce they have approved the circuit breakers that have been circulating for approval, and will begin a partial rollout tomorrow.
The financial markets hate uncertainty and the 'Mother of All Uncertainties' is looming in December, when Congress is supposed to decide what will happen to the Bush tax cuts, which are set to expire at midnight on Dec. 31.
The funny business of high school graduation. Thursday night I head to one. I will sit in a football stadium for two hours, which will only seem like three. I promise not to fall asleep, and, if I do, I promise not to do it on camera. Especially if Barack Obama shows up.
The trade deficit, along with the credit and housing bubbles, were the principal causes of the Great Recession. Now, a rising trade deficit and continued weakness among regional banks, still burdened by bad loans, threatens to stifle the emerging recovery and keep unemployment near 10 percent through 2011.
BP drops midday to a nearly 14-year low. BP shares went from $34 to $31.50 in about an hour midday. What happened? You have senators walking around talking about suing BP for everything, including lost jobs; you have worries that the dividend will be wiped out; and you have whispers on trading desks that it is increasingly likely that BP, or its U.S. subsidiary...may file for bankruptcy.