Google has delayed the debut of two mobile phones designed to connect with its Internet services in China, widening the void that might be opened if the company and Beijing can't resolve their rift over online censorship and security ...
The dramatic recent fall of the value of the U.S. dollar grabs headlines every day, even as the U.S. stock market surges to new recovery highs. People are talking about a "dollar crisis," and it's not just the usual rant-and-rave topic on CNBC. There are serious hints from government authorities around the globe that maybe we should think about dethroning the U.S. dollar as the "reserve currency" held by the world's central banks, and maybe global markets like oil should stop being priced in
Blackstone Group Up ... Shares of the Blackstone Group (BX), a private equity and hedge fund powerhouse, spiked Monday after it announced it was readying eight portfolio companies for sale ... Shares were up 7.5% in midday trading after founder Steve Schwarzman called a market bottom for the buyout business. "We see the world changing once again," Schwarzman wrote in a letter sent to investors on Friday: "At least for private equity, the worst is behind the industry.” The Wall Street
Iceland Melts Down ... Bankruptcy appears to loom for Iceland after the government takes over Kaupthing Bank, the third and final of the country’s three banks to come under government control. Iceland also suspends trading on its equities markets today. Meanwhile, trading in the krona, the nation’s currency, stops after an aborted stab at fixing the exchange rate to the euro. Financial analysts speculate that only an intervention from the IMF can prevent Iceland’s financial collapse ...
It’s the kind of prediction that can get a Vegas bookie’s blood going: Name the date and time that the Dow will cross the 10,000 threshold. The answer, of course, is that it could come at any time. On Oct. 15, when the latest Consumer Price Index is announced — or not. On Oct. 23, when Fed chairman Ben Bernanke addresses the Federal Reserve in Boston – or not ... So on the heels of a record rally for the market in the third quarter -- and now some jitters too -- we decided to take a stab
Most house hunters spend months juggling numbers like mortgage rates, list prices and broker fees. Here’s another figure they should keep in mind: 68. That’s the number of days left to snag the $8,000 federal tax credit for first-time home buyers ... The credit expires on Nov. 30 – a deadline that’s putting pressure on would-be homeowners trying to take advantage of a real-estate market on the mend ... “Most first-time home buyers understand that time is running out. Now they need to
Profits Take Hit, But Best Buy Raises Guidance ... Recent economic reports indicate that the recession probably ended over the summer, and consumers may finally start heading back to the malls this fall, providing retailers a much-needed sales lift. But will they open their wallets for big-screen TVs, home theater systems and video-game consoles — goods that can cause marital strife when household budgets are tight? That’s the question traders will put to Best Buy (BBY), which reported
STARTING IN SPRINGTIME, THE OUTLOOK for advertising suddenly began to get a whole lot brighter ... Rays of light appeared in May in the form of Macy's chief financial officer noting that the big department-store chain was much better able to project sales than it had been six months previously. Another glimmer: Software giant Microsoft revealed in May that it would spend $100 million to promote Bing, its new search engine competing against mighty Google ... A sign the darkest days were past came