U.S. credit card delinquencies reach all-time high
Consumers are increasingly failing to meet credit card payments as they battle high unemployment rates and a shrinking economy which has left many cash strapped. Delinquencies on the value of all card debt soared to a record 6.60 percent from 5.52 percent in the fourth quarter.
Climate debate kicks off in Senate
The U.S. Senate began debating the climate bill on Tuesday with hearings from four high-ranking officials; U.S. Energy Secretary Steven Chu, Interior Secretary Ken Salazar, Agriculture Secretary Tom Vilsack and Environmental Protection Agency Administrator Lisa Jackson.
Auto Shakeout Spreads
Auto parts maker Lear Corp., weighed down by a heavy debt of $3.6 billion and a sharp decline in automobile demand, filed for Chapter 11 bankruptcy on Tuesday as it goes to court to to finalize a viable plan with creditors to re-emerge. The filing comes just more than a month since the biggest U.S. automaker, GM filed for bankruptcy.
Goldman at risk of losing millions from ex-programmers code theft
Goldman Sachs Group Inc. may lose its investment in a proprietary trading code in addition to millions of dollars from increased competition if software allegedly stolen by a former employee falls into competitors hands. The ex-Goldman Sachs programmer is now out on bail.
Researchers Expose Security Flaw in Social Security Numbers
Researchers at Carnegie Mellon University have successfully devised a way to guess a person's Social Security number using statistical analysis. Armed with your date of birth and the state in which you were born, it's now possible to generate a quite small set of digits that are likely to contain your actual SSN.
EU Ministers criticize bank capital rules
European Union finance ministers criticized the current bank-capital rules saying that it is pro-cyclical, saying it allows banks to shed reserves when the economy appears healthy and forces them to stockpile when the economy shows signs of risk.
Gmail and other Google apps finally leave 'beta' after 5 years
Google Calendar, Google Docs and Google Talk were all stripped of their beta tags on Tuesday as Google upgraded the pieces of its Google Apps Premier Edition (GAPE) suite to the status of a finished product.
Conoco forecasts Q2 refining battered by fuel margins
ConocoPhillips, the third largest oil company in the U.S., said today its second quarter refining results will suffer from high inventory levels and weak global margins for fuels.
General Motors keeps production of plug-in SUV on track
General Motors is on track to launch a plug-in sport-utility vehicle in 2011, the automaker's product chief told Reuters today.
Boeing buys plant to speed up 787 program
Boeing Co. said it will buy a fuselage maker for $580 million after announcing another delay late last month to its 787 Dreamliner jet, which has already been delayed by two years. The South Carolina facility is owned by Vourght Aircraft industries and is expected to close in the third quarter.