Wall Street threw its support behind Barack Obama in 2008, but this election cycle the tables have turned. Now, it's funneling most of its donations to Mitt Romney and conservative super PACs.
The American economy is slowing down.
GDP grew at a 1.5 percent rate in the second quarter, down from 1.9 percent in the first quarter, and anticipation is growing over what the Federal Reserve's policy-making committee will decide when it meets next week.
Former tech darling, Yahoo, has been struggling in a world dominated by Apple, Amazon, Google and Facebook. Even with an estimated 700 million users around the world, it’s had difficulty turning that reach into profits. This week, the company reported that revenues were down 1 percent for the quarter that finished June 30, and profits fell to $226 million from $237 million a year earlier.
It's big news in Europe right now. Monday morning, before a British Parliamentary committee, a top official with the Bank of England is testifying.
Heads are rolling at the British bank Barclays after it admitted to rigging a key interest rate known as the LIBOR — short for "London Interbank Offered Rate."
You remember those headlines a few months back warning of $5 a gallon gas?
Remember the headlines just a few months ago? People predicted gas would reach $5 a gallon This week, the price is $3.57, according to the Energy Information Administration.
The disasters are coming! The disasters are coming!
For more than two years, the European economy has see-sawed between potential collapse and stability.
The joke-writers can take the rest of the week off; Mayor Michael Bloomberg’s decision to crack down on the sale of oversized sweetened drinks has spawned enough one-liners to fill a week of late-night comedy.
It seems that, whatever we say about the attractiveness of a business background, it hasn't been what we've been voting for — at least, not for the top job.
JPMorgan Chase’s CEO Jamie Dimon called concerns about a massive trading bet a “tempest in a teapot” last month.
The G-8 nations will be gathering here in the United States and — Wait! Don’t click over to the cute kittens or the latest pictures of Pippa’s calliypygian charms. This is important stuff! The economic storms still battering Europe, the coming political tensions with a socialist president in France and the continuing chaos in Greece, could all have a major impact on the U.S. economy and — not so incidentally — on the identity of the next American President.
That noise you heard this week from one side of the Atlantic to the other is the outburst of schadenfreude that greeted a declaration from a British parliamentary committee that Rupert Murdoch was "not a fit person" to run a major international company like News Corporation.
A British parliamentary committee calls News Corporation's Rupert Murdoch "not a fit person to exercise the stewardship of a major international company.” Shareholders upset with Chesapeake Energy’s CEO Aubrey McClendon force him to give up his role as chairman of the board. And pay packages for bank executive are being challenged. It just might be the dawn of a new era of corporate accountability.
May 1 is the deadline for millions of high school seniors to choose where they will go to college in the fall. To pay for it, many will take out thousands of dollars in student loans, only adding to the country’s more than $1 trillion in existing student debt. All this debt is having enormous consequences on economic growth. Could student loans be the next financial bubble?