Gold prices were up slightly from the early minor sell off this morning as bargain hunters tried to get in on the gold action at a lower price. So far this year gold has risen 22.4% to all time highs with 9% of that gain coming in September. The gold rally has slowed down a [...]
Microsoft’s attempt to enter the “smart phone” revolution received some favorable reviews on Monday as their new line of phones was launched. Analysts say that while the early reviews are favorable the success of Microsoft’s smart phones will depend on how well they are marketed against Apple and Google who have the two top phone [...]
In what is shaping up to be a tough election season already for the Democrats, they have received more bad news in the form of Friday’s job report. The government jobs report is the last major news regarding the economy that will be released before the mid-term elections next month. The report shows that the [...]
According to a report just released from the Labor Department, unemployment claims have dropped by 11,000 to a seasonally adjusted 445,000. It is the fourth time in the last five weeks that claims have declined. Some economists think this is a good sign for the economy but also mentioned that although the claims have dropped [...]
Barry Diller, Chief Executive of IAC/InterActiveCorp, has announced his resignation as Live Nation Entertainment Inc. chairman. This comes after a very brief but controversial stint as the chair of the concert promoting and ticketing company that had recently merged with Ticketmaster. “It’s been almost a year and I informed the board today that while there [...]
Abbott Laboratories said on Wednesday that they are recalling containers of Similac powder infant formula that were distributed to the U.S., Puerto Rico, Guam, and some Caribbean nations. The recall affects about 5 million containers of the powdered formula in the 9 oz., 12.4 oz, and 12.9 oz cans that were made in their Sturgis, [...]
Alibaba Group, the parent company of a group of Chinese websites, continues to ask Yahoo if they can buy back Yahoo’s 39% stake in their company. Carol Bartz, Yahoo Chief Executive, keeps telling them that Yahoo is not interested in selling. On a report that Yahoo did have a sale pending with Alibaba, shares rose [...]
On Friday, President Obama named Austan Goolsbee the top economist. He will be the head of the Council of Economic Advisers. Obama has chosen this member of his inner circle because he knows the rest of the president’s top team very well and he is a skilled communicator. “He’s someone who has a deep appreciation [...]
On Monday Japan announced that they will be injecting a 920 billion yen stimulus package into the Japanese economy to help safeguard a recovery that has been very fragile. “We decided on the basic plan comprising employment, investment, education,” said Japanese Prime Minister Naoto Kan. “We decided on the swift stimulus, using 920 billion yen [...]
Claims for unemployment benefits rose unexpectedly on Thursday according to the Labor Department. The higher claims helped bring down shares on Wall Street and renewed concerns that the pace of the economic recovery might not be as quick as originally thought. Balancing out the fall of shares from the unemployment news was a report saying [...]
