Hedge fund managers are fuming at new political rhetoric against them and their huge paydays.» Read More
Wall Street pretty much shrugged off the blizzard.
If you set your alarm an hour early, put on a pair of gloves—and sucked up the pain—you probably made it in to work just fine. That seems to be the consensus opinion of those who didn't use the weather as an excuse to sleep in an extra hour.
When I asked BlackRock if they had any special operating procedures in place, due to the storm, a spokesperson said: "Nope: We're here!"
The Senate Energy and Natural Resources Committee kicked off their first hearing of the new Congress with one of the most controversial topics in the energy sphere: the safety of deep water drilling. The committee examined the report and recommendations issued by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling.
I decided to sit down and speak with Gary Luquette, President of Chevron's North America ExplorationandProduction , on his thoughts on the hearing and the impact the unofficial moratorium is having on the industry.
Sean Parker, Founders Fund LLC CEO and early Facebook investor, stops long enough to tell CNBC he doesn't have time to talk.
Jobless Numbers Worse Than Expected — Snow Blamed [Reuters via CNBC] "New U.S. claims for unemployment benefits rose more than expected last week as harsh weather conditions in some parts of the country kept workers at home and caused a backlog in the processing of claims, a government report showed on Thursday. Initial claims for state unemployment benefits jumped 51,000 to a seasonally adjusted 454,000, the highest since late October, the Labor Department said. That was the largest weekly increase since September 2005. Economists polled by Reuters had expected claims to be little changed at 405,000."
NY Metro Area Slammed by Another Monster Storm [NY Post] The Big Apple was brought to a virtual halt early this morning by another monster storm — this one not only shutting area airports, but also closing city public schools and non-emergency government offices, as well as forcing the suspension of all buses citywide.
Economy Not Improving Enough to End QE2 [CNBC] "The Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program. In a statement following its policy-setting meeting, the central bank also said measures of underlying inflation were "somewhat low" although it acknowledged rising commodity prices that have fueled global inflation worries."
Treasuries Dip as QE2 Sticks Around [Bloomberg] "Treasuries declined as Federal Reserve policy makers maintained a $600 billion program of debt purchases while saying the economic expansion is continuing at an insufficient pace to reduce unemployment. Government securities dropped earlier after a report showed sales of new homes rose more than forecast in December and the U.S. sold $35 billion of five-year notes. Ten-year Treasury Inflation-Protected Securities show bondholders expect the consumer price index to increase 2.26 percentage points a year on average over the life of the debt, compared with a forecast for an increase of 1.7 percent this year by economists surveyed by Bloomberg News."
One of the hottest tickets at Davos was "Connectedness" a talk about how will online and mobile behaviours be reshaped over the coming years.
It was a painful wait through Tuesday night’s State of the Union speech to hear any talk about fixing the debt-and-deficit plague, and it’s likely to be a considerably longer wait for anything to get done.