Manufacturing and corporate profits are both in recession mode, even though the rest of the U.S. economy continues to limp along.» Read More
As it turns out, General Electric is not returning a tax refund to the U.S. government.
While JPMorgan Chase appears to have had a good first quarter, its earnings show evidence that a massive credit contraction is underway.
Yesterday it was reported that Hosni Mubarak had a heart attack before he was scheduled to be questioned by prosecutors investigating the many allegations against him.
An article in Zim Daily has a new piece of information about the line of questioning.
JPMorgan Profit Up 67%; Sees Dividend Hike [CNBC.com via Reuters]
"Mortgage Mess Weighs of JPMorgan Chase" [CNNMoney via Fortune]
Uh-oh! Better hurry it up, Mr. Gorman. Shareholders are becoming impatient over recovery at Morgan Stanley [NYTimes DealBook]
Retail sales rise slightly less than expected [CNBC.com via Reuters]
This morning, I asked my guest host, Mark Mobius, what he sees happening once the Fed steps away in June. Here's what he said:
In the growing debate over inflation, most consumers are going with what their wallets are telling them.
Despite assurances from prominent Federal Reserve officials and some economists that inflation poses little threat, about three-fourths of respondents in a recent survey believe prices are headed higher over the long term.
Remember Donald Longueuil? He’s the former SAC Capital trader who was accused of insider trading back in February. The feds were able to bring charges against Donny thanks to his ex-best friend, Noah “Judas” Freeman, who also worked at SAC for a time \(and took part in the alleged ill-gotten gains made off of tips from expert network analyst Winifred Jiau\) and agreed to record conversations with Don in exchange for a lesser sentence and permission to go to Puerto Rico with his wife. As a refresher, here’s what they’ve got Donald on tape saying re: his USB flash drive \(dramatic reenactment can be heard here \):
If investors follow Goldman Sachs's advice and cash out of oil , it likely will be only a short-term trade that sets the stage for another buying opportunity.
That at least is the view from the trading pits, where the Goldman call Monday was greeted with a level of skepticism, even if it’s short-term ramifications saw an appreciable dip in the energy trade—and, in fact, across the commodity spectrum—on Tuesday.
Tyler and Cameron Winklevoss, the towering Olympic rowers and identical twins who you remember from The Social Network movie as the guys who gave Mark Zuckerberg the idea for Facebook, had their case against Zuckerberg thrown out of court yesterday.
The smartest judge on the Ninth Circuit court of appeals, judge Alex Kozinski, delivered a highly technical and devastating opinion that concluded with these words :
Barclays was hit by a $108.5 million fine on Thursday as it allegedly worked with super-rich clients in a way that could have facilitated financial crime.
A class action lawsuit accuses banks of conspiring to limit competition in the $320 trillion market for interest rate swaps.
The investors said Citigroup looked askance at the loans' "abysmal performance."