- ExxonMobil Is Expected To Report Weak Earnings From Lower Gas Prices
July 24 2012 6:08 PM
Based on a median estimate among analysts polled by Thomson Reuters, ExxonMobil will report earnings of $1.96 a share on revenues of about $115.08 billion -- a decline of 8.3 percent from the year before. The company will post its second-quarter earnings on Thursday at 10 a.m. EDT.
- Wal-Mart Unhappy With $7.25B Settlement of Retailers' Suit Against Visa, MasterCard
July 24 2012 4:52 PM
Wal-Mart, in a bid to protect consumers, said it was not happy with the proposed $7.25 billion retailers' settlement with Visa Inc., and MasterCard Inc., over interchange and processing fees to cover credit and debit card payments.
- Will Latest State Jobs Figures Threaten Obama's Re-Election Prospects?
July 20 2012 10:54 PM
As U.S. President Barack Obama shifts the focus of his re-election campaign from joblessness to income inequality, unemployment has increased in more than one-half the country's states this year.
- Consumer Spending Will Increase By Small Amount This Year: Report
July 20 2012 2:07 PM
U.S. consumer spending will grow at a meager rate of 1.5 percent to 2 percent by the end of this year, Sterne Agee, a U.S. brokerage and investment firm said on Friday in a report.
- NY Fed Urges 'Capital Control' Of Money Market Funds
July 20 2012 12:01 PM
The Federal Reserve Bank of New York is proposing that money market managers be empowered to hold back depositors' money for 30 days in the event of a run on funds. The controversial proposal is being called by critics a kind of capital control.
- Verizon's Q2 Earnings Receive Upgrade To 'Strong Sell'
July 19 2012 5:23 PM
Standard & Poor's (S&P) Capital IQ equity analyst Todd Rosenbluth changed his rating on Verizon Communications (NYSE: VZ), from Hold to Strong Sell after the $128.4 billion-cap mobile service carrier posted its second-quarter earnings Thursday morning.
- Why Is Gold Safe To Invest In Despite Market Pressures?
July 19 2012 3:34 PM
Gold continues to fare better than other asset classes in spite of a downward pressure on prices.
- IMF Urges UK To Jumpstart Economy
July 19 2012 2:44 PM
Britain risks permanent damage to its economy if the government does not adopt fiscal stimulus measures to reverse the country's recession, the International Monetary Fund (IMF) warned Thursday as it pressed for a reduction in the country's deficits to jumpstart its ailing economy.
- Capital One Fined $210M For Ripping Off Customers In CFPB's First Fine
July 18 2012 6:07 PM
Capital One agreed to pay $210 million to resolve two regulatory cases arising from its crooked marketing and billing practices.
- Company Releases Indian Workers Detained In Bahrain For 6 Years
July 18 2012 4:34 PM
Nass Contracting Co., a wealthy Bahraini construction giant that was recently under fire from human rights groups, announced on Tuesday that it would permit its workers to leave the country and return home.
- Grassroots Group Tries To Bypass Fiscal Cliff
July 18 2012 1:31 PM
As Washington struggles to address America's intensifying fiscal woes, it is getting help from an independent and growing brigade of budget experts, business tycoons and civic leaders.
- Ireland To Spend $2.76B To Cut Joblessness, Boost Services
July 17 2012 12:50 PM
The Irish government will spend more than ?2.25 billion ($2.76 billion) on new infrastructure projects and to restart existing road, school and health care construction projects to create as many as 13,000 jobs without hiking debt, government officials said on Tuesday.
- Goldman Sachs 2Q Earnings Falls 11%
July 17 2012 11:41 AM
Goldman Sachs (NYSE: GS) booked a 11 percent drop in its second-quarter earnings as revenue from investment banking and lending businesses declined, the New York investment bank said Tuesday.
- JPMorgan Traders Might Face Criminal Charges
July 16 2012 4:31 PM
JPMorgan receives another blow even as it flounders in the midst of a FERC power market manipulation probe and talks with U.S. regulators for its alleged involvement in rigging key benchmark interest rates.
- US Regultors Probing Into The Escalating Libor Scandal
July 16 2012 3:03 PM
Taking inspiration from global regulatory investigations into the interest rate manipulation, the U.S. is now building strong evidence of criminal wrongdoings against big banks and individuals ensnared in the heart of the scam.
- India's Economy Troubled By Falling Growth And High Inflation
July 16 2012 12:15 PM
Bad news from India isn't easing off just yet. Inflation hovers above 7 percent and economic growth remains tepid after plunging to a nine-year low of 5.3 percent in the first quarter, year-on-year.
- Wealthy Homeowners Threaten Housing Recovery
July 13 2012 9:18 PM
Luxury homeowners are panicking at the prospect of paying millions of dollars more in capital gains taxes from next year. Their soaring desperation could eventually cripple housing prices.
- Euro's Falling Value: A Solution To The Crisis, Or A Symptom?
July 13 2012 4:32 PM
A declining currency value could be a boon for Europe and a final solution to the ongoing crisis, economists say.
- 50-50 Chance Of Euro Zone Split: Analyst
July 13 2012 1:45 PM
The euro zone will not disintegrate. Instead, there is a fifty-fifty chance of a split between the financially sound countries and economically weaker ones, the Economic Outlook Group said on Friday.
- Is China Growing Modestly Amid Dim Global Forecasts?
July 12 2012 5:07 PM
China's slowdown might be real but its economy is far from smashing into smithereens. Many subtle pointers indicate that the world's second-largest economy is turning around.