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Wells Fargo (NYSE: WFC) Issuing Cash Dividend
Across Wall Street, investors have been clamoring for returns on equities since the depths of the financial crisis. The large financial service institutions, once famous for their generous dividend payouts, were forced to slash them... More of this article »
Citigroup (NYSE: C) Awarded Latin America Fund Administrator of the Year
Citigroup (NYSE: C), the beleaguered New York based banking behemoth may see it’s stock price suffering, but has achieved acclaim in foreign markets recently, most specifically, Latin America. Custody Risk has named Citi Fund Administrator... More of this article »
Chevron First Quarter Income Up
Chevron Corp announced its first quarter earnings on Friday. The Sam Ramon, California based Chevron said net income for the quarter increased by 4.2%, as the increased price of oil boosted the company’s profits from its production... More of this article »
Wal-Mart’s Mexico Operations Probed By Attorney General (NYSE: WMT)
In Mexico, the attorney general’s office launched a preliminary investigation into whether Wal-Mart Stores bribed officials to expand its business. A New York Times report revealed a pattern of suspicious payments made to various... More of this article »
Report Alleges Apple is not paying Millions in Taxes
A report recently released says Apple, Inc. is avoiding paying billions of dollars of global taxes. The report claims the tech giant is opening small offices across the globe to collect and then invest profits by the company. The report... More of this article »
Unemployment in Spain Hits Record
The notorious stagnant jobs market in Spain is a serious problem in the country and is expected to get even worse before turning the corner toward the good. The government in Spain reported that the unemployment rate skyrocketed to... More of this article »
Motel Uses Nudity to Survive
One motel in Cocoa Beach, Florida has had a problem filling rooms and lounge chairs. In order to attract more guests, the Fawlty Towers Motel has had to resort to attracting guests that has raised the eyebrows of many local residents. Starting... More of this article »
Rating For Spain Downgraded by S&P
Spain’s credit rating was downgraded on Thursday by Standard & Poor’s. The credit agency said the country’s levels of sovereign debt were excessively high and that the banks in Spain would need to receive an injection of... More of this article »
Watson to Acquire Actavis
Watson Pharmaceuticals Inc announced on Wednesday that it had agreed to purchase Actavis Group. The deal is estimated at over $5.6 billion. The deal will make the company one of the biggest suppliers in the world of generic drugs and... More of this article »
Monthly Bills for Smartphones down at AT&T
AT&T is generating less money from each new monthly subscriber of a smartphone. The average monthly smartphone bill for subscribers has decreased by nearly 10%, from $88 dollars to $80 in just 12 months. AT&T should be greatly... More of this article »
Dutch Government Collapses
Mark Rutte the Dutch Prime Minister resigned on Monday after support from the far-right was withdrawn for his government. That might clear the way for earlier than normal elections in the Netherlands. Some believe the elections will... More of this article »
NetFlix Loses Money, Gains Subscribers
This year Netflix expects to sign up over 7 million subscribers to its streaming video rentals, despite the fact it just posted its first loss for a quarter in over seven years. The home video and streaming video rental company lost... More of this article »
Revenue Increases Mean Higher Profits For Wells Fargo (NYSE: WFC)
Wells Fargo saw an increase of 13% in profits for the first quarter. The company reported earnings of $4.2 billion, or $0.75 a share. The results were higher than the $0.73 a share forecasted by analysts. Revenue increased to... More of this article »
Call for Freezing Student Loan Interest Rates
Senator Charles Schumer has called on Congress to freeze the interest rates on student loans. Current Stafford loans have a rate of 3.4%, but they are destined to increase to 6.8% as of July 1. That increased will affect over 7.4 million... More of this article »
Twenty-year Light Bulb Unveiled
Philips has unveiled a super-energy saving light bulb that it said would have over a 20-year life span. The LED bulb was unveiled by the Dutch company to coincide with Sunday’s International Earth Day. The Bright Tomorrow Lighting... More of this article »
Bank Of America Reports Significant Drop In Revenue (NYSE: BAC)
Bank of America reported results that were better than expected for the first quarter despite a drop in revenue and one-time accounting charges. Bank of America’s net income dropped to $653 million, or $0.03 a share, from $2 billion,... More of this article »
Ebay Results Better Than Expected
Ebay, Inc announced its quarterly profit and sales increased more than had been expected. That prompted the company to raise its forecast for 2012, citing more growth in the PayPal and Marketplaces businesses. Ebay shares increased... More of this article »
Salt Content in Fast Food Varies By Location
Fast food is quite often very high in salt. Exact levels however, vary based upon the country you reside in, says a recently published report. Researchers studied fast food in six countries and found the same item at times had different... More of this article »
Housing Market May Be Rebounding
Recently released reports from two of the country’s largest banks, indicated the housing market in the U.S. might be set to rebound. Two banks released earnings reports on Friday and showed that more people in the U.S. are buying... More of this article »
White House to Streamline Regulations for Natural Gas
The White House administration, on Friday said it was creating a working group to coordinate oversight of the production of natural gas. The industry has complained of late because of the excessive regulations that could hinder a natural... More of this article »
New E-reader Has Built-In Light
The new Barnes & Noble Nook Simple Touch has a glow light that offers lighting so it can be read in the dark. It also helps the e-reader to be read while in certain sunlight scenarios. The new e-reader will retail for $139 and... More of this article »
Electric Car To Cross Country With No Gas
With the price of gasoline approaching a national average of $4 per gallon, it is not surprising that most people are not considering crossing the country via a car or truck. However, one group thinks differently. An event that has... More of this article »
Republicans Bash Obama For Class Warfare
Republican’s supporting Mitt Romney charged that President Obama was partaking in “class warfare.” The battle for the presidency is starting to heat up as both Republicans and Democrats try to lour voters from America’s middle... More of this article »
Shell Stock Drops Amidst Spill Fears
On Thursday, shares of Royal Dutch Shell dropped as it was stepping up the monitoring of a Gulf of Mexico oil spill. The market is still shaky following the 2010 BP disaster of Deepwater Horizon. The company sent a vessel, dedicated... More of this article »
Oil Prices Drop On Demand Worries
On Tuesday, oil dropped its most in one day since the beginning of the year. Crude hit a seven-week low on concerns that a potential slowdown in China, the No. 2 economy in the world, added to the global demand worries. Trade data... More of this article »
Yahoo Plans To Eliminate 2,000 Jobs (NASDAQ: YHOO)
Yahoo announced that it would lay off 14% of its work force, about 2,000 employees in its latest cost-cutting move. This will be Yahoo’s sixth major layoff in the last four years. Yahoo expects to save $375 million annually from... More of this article »
Another Foreclosure Wave To Arrive
The U.S. is five years into its worst housing crisis since the 1930s. A number of Americans hope the crisis is finally coming to an end. Sales of homes are now starting to rise and the decline in home prices is slowing down. Foreclosures... More of this article »
Quakes Tied To Gas and Oil Production
Gas and Oil production may help to explain the spike in small earthquakes in the midsection of the United States, says a new study released by the U.S. Geological Survey. The rate in small quakes has increased by six times since late... More of this article »
Web Attack Probed By British
The Home Office Interior Ministry of Britain is investigating a report that Anonymous the hacking group attacked it’s website because of the government’s plans to increase its surveillance on the Internet. When visitors tried to... More of this article »
Microsoft and Nokia Launch Lumia 900
On Sunday, Microsoft and Nokia will launch a Windows Phone. The new device will hold the future of the two company’s smartphone fate in its polycarbonate case. AT&T is working with Microsoft and Nokia on the smartphone launch... More of this article »
Yahoo Lays Off 2,000
Yahoo announced on Wednesday it was be laying off 2,000 workers as the new CEO tries to turn around the company in a broad restructuring of the often-troubled Web company. The layoffs amount to over 14% of the entire Yahoo workforce.... More of this article »
Detroit Not To Be Taken Over By State
The City Council of Detroit on Wednesday passed a financial consent accord with a vote of 5-4. The agreement gives Detroit the power to slash costs and void contracts but not to provide state loans or funding to relieve the city of... More of this article »
Dow Announces Plant Closures And Employee Layoffs (NYSE: DOW)
Dow Chemical has announced that it will cut 900 jobs and close plants because of the weakness in the European economy. Dow had a $20 million loss in the fourth quarter, mainly due to weak European and U.S. sales. CEO Andrew Liveris... More of this article »
Burger King to be on NYSE
Burger King expects it will be relisted on the New York Stock Exchange within 90 days. The No. 2 burger chain in the world is going through an overhaul of its menu and redesign of its stores. A deal was announced on Tuesday where 3G... More of this article »
iPad Rating Recalibrated By Consumer Reports
Consumer Reports said they did like some things with the iPhone 4, it also warned people that the iPad 3 could get too hot. However, the publication it turns out is a fan of the new tablet from Apple. The consumer protection publication... More of this article »
Express Scripts Buys Medco
On Monday, Express Scripts Inc. completed its purchase of Medco Health Solutions Inc a former rival. The acquisition price was $29.1 billion. Once the Federal Trade Commission had given its formal seal of approval, the deal became... More of this article »
Honda To Recall Pilot and CRV SUVs
Honda Motor Co. has announced it will recall over 554,000 2002 to 2004 model CRV’s and 2003 Pilots. The vehicles to be recalled are in the U.S. and will be inspected for a problem in the headlight wiring system. The Japanese automaker... More of this article »
New Oil Leak Spotted in Brazil
Authorities in Brazil have spotted another oil leak. On Saturday, the leak was spotted off the off the coast near Rio de Janeiro. This is just the latest in a number of spills that have caused concern about the safety in the development... More of this article »
U.S. Seeks Sanctions In Airbus Dispute (Airbus S.A.S)
The United States claims that European governments failed to end illegal subsidies for aircraft manufacturer Airbus and announce that they will be seeking sanctions on potentially billions of dollars of European goods. The earlier... More of this article »
Data Breach That May Have Exposed Private Customer Information Investigated By Visa and MasterCard (NYSE: V) (NYSE: MA)
Visa and MasterCard announced an investigation into whether a data security breach at one of the main companies that processes transactions for them exposed private customer information. The breach occurred at Global Payments, a... More of this article »
FDA Says No To Petition
A petition to have BPA banned was denied by the U.S. Food and Drug Administration. The regulatory agency said it will not ban BPA now and it may never ban it. Those that want BPA banned say it is a toxic chemical that should not be... More of this article »
Huge Breach Of Credit Card Data
A huge data breach at a firm that processes payments has compromised debit and credit card information for all the major card brands. The processing company, Global Payments confirmed on Friday that card information might have been... More of this article »
Chinese Firm Now World’s No. 1 Oil Producer
Big Oil is seeing a Big Shift these days. A Chinese upstart has taken over the rank of No. 1 leaving an American company in its wake. Exxon Mobil was displaced as the world’s largest oil producer, that is publicly traded. Now, for... More of this article »
Sony Entertainment Shakes Up Executive Ranks
As of Thursday, a shift at the top of Sony became official. Michael Lynton was named Sony Corp. of America CEO, effective on June 27. Starting the same date, the video game and electronics units of Sony will report to its Japanese... More of this article »
Goldman Sachs (NYSE: GS) Bets on Housing Rebound
Goldman Sachs Group (NYSE: GS), the firm that famously survived the subprime mortgage crisis by essentially shorting the housing market has now reversed course. The firm is now raising money for a new fund that will buy home-loan bonds,... More of this article »
JP Morgan Chase (NYSE: JPM) Reviving Commercial Mortgage Backed Securities for Rialto Capital Loans
Mortgage-backed securities quickly fell out of favor over the past 4 years, though with sufficient yield, a market for them may still exist. This is the hypothesis JP Morgan Chase (NYSE: JPM) must be making, reviving the sales of commercial... More of this article »
Bank of America (NYSE: BAC) Downgraded
Amidst a continued tumultuous environment for Bank of America (NYSE: BAC), speculation of rating cuts and continued loan losses have plagued the firm, sagged the earnings and weighed down it’s stock price. Research analyst David... More of this article »
Tim Cook In China
Tim Cook, the CEO of Apple, Inc. is in China to discuss problems with government officials in the biggest growth market the company has. The problems range from the treatment of local workers to the contested trademark of their iPad... More of this article »