Apple Inc.’s first wearable device, the Apple Watch, is expected to launch in the month of April of this year. And the device is being welcomed by many as a valuable addition to the wearable tech industry. Apple Inc. (NASDAQ:AAPL) is also in its final stages of promotion for the new … [Read more...]
Fiscal Cliff Uncertainty Pushes Gold Prices Higher
Gold prices have rebounded and are expected to rise in 2013. Concerns over the looming fiscal cliff have only fueled interest in the precious metal. The price of gold was up $9.09 to $1,658.35 per ounce Friday, as were the stock prices of several major gold mining companies. … [Read more...]
Fiscal Cliff Days Away, Plan B Denied and No Resolution in Sight
As House Speaker John A. Boehner put forth a proposal to end fiscal cliff worries, Democrats rejected the plan out of hand, but now even Republicans don't support the plan. Boehner told the press, "The house did not take up the tax measure today because it did not have sufficient … [Read more...]
Deutsche Telekom CEO Suprise Exit After 7 Years
Deutsche Telekom AG (DTE:GR) said its CEO of seven years, Rene Obermann, will be leaving the company at the end of next year, allowing time for a smooth transition for its new CEO. Obermann has been with the company since 1998 and will be succeeded by the company's current CFO … [Read more...]
Homebuilder Sentiment of Housing Market at 6 Year High
Recently released figures show that homebuilders in the United States are more confident of the outlook for new housing than they have been in over six years. The National Association of Home Builders/Wells Fargo builder sentiment index has long been viewed as a great indicator of … [Read more...]
Morgan Stanley Fined for Blowing Facebook (FB) IPO
Morgan Stanley was hit with a $5 million fine for brazenly breaking the law in their role as the lead underwriter for Facebook's (FB) IPO. The Secretary of the Commonwealth of Massachusetts, William Galvin, levied the fine for what he described as, "...a clear violation of the global … [Read more...]
Apple Stock (AAPL) Feels the Pressure of iPhone 5 Sales
Apple (AAPL) unveiled its iPhone 5 in China Friday and quickly sold 2 million units. These sales over the weekend almost match the entire third quarter sales for the IPhone 4S, which was 2.1 million units. However, the company's stock still dropped by almost 4%. Apparently, Wall … [Read more...]
Federal Reserve Implements Radical New Policy to Keep Interest Rates Low
Federal Reserve Chairman Ben Bernanke announced a radical new policy the Fed will being using. The new policy is getting unprecedented support, but it is so far afield from past policies it may take many off guard. Federal Reserve Bank of Richmond president Jeffrey Lacker was the only … [Read more...]
Lowest Gas Prices of the Year Just in Time for the Holidays
With this Christmas travel season expected to be the busiest in years, lower gas prices will be a welcome change for travelers. According to industry analysts, the average U.S. gas price is expected to dip below the $3.28 per gallon average that Americans saw at the beginning of the … [Read more...]
Best Buy (BBY) Stock Plummets 15% on Schulze Buyout News
Best Buy (NYSE: BBY) and its co-founder, and largest shareholder, Richard Schulze have agreed to extend the deadline on the Schulze buyout offer until after the holidays. The talks spurred a 15% jump in the company's stock price yesterday, but news of postponing the consummation of … [Read more...]
Greece to Get 34.3 Billion Euros in Bailout Money
The Eurogroup, a meeting of the finance ministers of all the members of the Eurozone, agreed to doll out 34.3 billion euros to Greece as part of a larger bailout plan that has famously included austerity measures that have met with much resistance. “The disbursement today will allow … [Read more...]
Fiscal Cliff Fears Intensify as Deadline Gets Closer
As the year-end approaches, angst over the impending fiscal cliff only gets worse. There seems to be little real compromise coming out of Washington to get this behind us. The political posturing continues as Americans watch and hope a resolution will be found before the clock runs … [Read more...]
Virgin Atlantic Airways Sells 49% to Delta Air Lines to Boost Trans-Atlantic Reach
Delta Airlines (NYSE:DAL) is buying a 49% interest in Virgin Atlantic Airways for $360 million in a deal that will strengthen Delta's New York to London schedules, as well as bolster its presence in Europe. Eccentric billionaire Richard Branson will still own a 51% controlling … [Read more...]
Ingersoll Rand Spins Off Security Division as Part of Strategic Restructuring
Ingersoll-Rand (NYSE:IR) announced it will be separating its security business from the rest of its operations in a strategic move to enhance shareholder value. The move includes combining its commercial and residential security businesses, a 31% hike in the company's quarterly … [Read more...]
Amazon $50 Discount on Kindle Fire and Barnes & Noble Slashes Nook Simple Touch Price
Amazon and Barnes & Noble both just announced they are cutting prices on their E-reader tablets in an effort to boost sales. Although Amazon's Kindle sales were outdone by Nook sales on Black Friday, Amazon is still selling Kindles at a rapid pace. With eBooks selling faster than … [Read more...]
Groupon Rumored to be Google’s Latest Acquisition Target
Groupon's (NASDAQ: GRPN) stock price shot up over 20% Friday amid rumors that Google might be courting the company as an acquisition candidate. Forbes discounted the rumor as a stupid rumor of the week, calling it, "A rumor so silly that no right-minded person would think it … [Read more...]
Google Will Start Charging Small Businesses to use “Google Apps”
Google (GOOG) announced today that it will begin charging new small and medium sized businesses (SMB) to use its cloud-based Google Apps for business software. Existing small business customers will be grandfathered in and will still have free access, as will individuals, but new … [Read more...]
Cash America a Payday Loan Company Forced to Refund Over $13 Million to Customers
Cash America will be giving about 14,000 of its customers in Ohio refunds totaling an estimated $13.4 million after customers sued them, but now admits it made significant mistakes in its own legal documents. Cash America is the largest operator of pawn shops in the United States and … [Read more...]
Corruption Inquiry Tarnishes Rolls-Royce Luxury Cache’
To consumers, Rolls Royce is synonymous with luxury cars. But, the company also happens to be the world's second largest aircraft manufacturer, and is now the target of investigations by the United Kingdom's Serious Fraud Office (SFO) and the United States' Department of Justice … [Read more...]
U.S. Employment Outlook Improving Despite Fiscal Cliff Scare
In spite of the looming fiscal cliff and the enormous impact of super storm Sandy on jobs, the overall employment outlook is improving. The effects of super storm Sandy have taken a bigger toll than that of government gridlock, but aside from the storm's affects, new jobs added were … [Read more...]
