What goes up must come down? Stocks may defy gravity
What goes up eventually comes down, even in stock markets. Still, it can take a long time, much to the chagrin of those looking for a buying opportunity. Read Full Article here.
AIG's new CEO reaches out to Greenberg
AIG to Hank: All is forgiven, we need your help! That is the message from Robert Benmosche, the new CEO of American International Group Inc, to Maurice Hank Greenberg -- the man who built the company into what was the largest insurer in the world but was then ousted, and has since been embroiled with the company in a bitter legal struggle. Read Full Article here.
Fragile air traffic recovery under way: IATA
A recovery in air traffic is under way, according to latest data from a global industry body, in another sign the world economy is clawing its way out of recession. Read Full Article here.
Economy stabilizing, housing no longer drag: Fed's Lacker
Richmond Federal Reserve President Jeffrey Lacker was quoted on Thursday as saying the U.S. economy was stabilizing after a painful recession and the shattered housing market will no longer be a drag on economic activity. Read Full Article here.
New jobless claims fall in latest week
The number of U.S. workers filing new claims for jobless benefits fell last week to 570,000, and those collecting long-term unemployment benefits dropped to the lowest level since April, government data showed on Thursday. Read Full Article here.
John Paulson buying Citigroup shares: report
Hedge fund manager John Paulson, who bet against financial companies after foreseeing the credit crisis, has been buying Citigroup Inc shares over the past few weeks, the New York Post reported, citing sources. Read Full Article here.
Acer Q2 results show risks of cheap netbooks
As global PC brands fight it out in the market for cheap, mini-laptops, Acer's <2353.TW> quarterly results show not all is good news even in a robust market. Read Full Article here.
Microsoft cuts high-end Xbox price by 25 percent
Microsoft Corp plans to slash the price of its high-end Xbox 360 video game console by $100, or 25 percent, stepping up the price war in the video game console market following a similar move by rival Sony Corp. Read Full Article here.
Time Warner Cable to test TV on the Internet: report
Time Warner Cable Inc has signed up at least seven large media companies for a test that will offer television programs on the Internet to paying subscribers, the Wall Street Journal said on Thursday, citing people familiar with the matter. Read Full Article here.