- Midwest Heat Wave Damages Crop Yields, Presses Food Prices
July 03 2012 9:48 AM
As the Midwest teeters from the impact of one of the most damaging heat waves in U.S. history, declining yields on crops could hurt the public by raising food and commodity prices to staggering proportions, according to commodities trading data.
- Global Pharma Giants Feed On Smaller Biotech Makers
July 02 2012 4:23 PM
Bristol-Myers Squibbs' takeover of Amylin follows the trend of pharma companies that are acquiring biotech companies to benefit from growing medical needs, offset patent losses and boost their internal pipeline productivity.
- U.S., Europe Stocks Rise, Asian Markets Mixed
July 02 2012 1:52 PM
U.S. stock markets started the second half of this year with an encouraging uptick before turning down in midday.
- This Time, Spain Won't Be Back In 10 Minutes
July 02 2012 11:51 AM
Europe's fourth-largest economy is putting millions of people out of work. This time, it won't be back in 10 minutes like the post-it notes of Spanish employees when they leave their desks for a half-hour coffee break every so often.
- Bank Of England Cracks Down On Cheating Banks
June 29 2012 5:41 PM
The Bank of England (BoE) is cracking down on large financial institutions to prevent them from cheating businesses and consumers worldwide -- a practice that has put a $360 trillion global financial market at serious risk for several years.
- India's Infrastructure Business Grows 4.6% In May
June 29 2012 4:35 PM
India's infrastructure business, which accounts for 38 percent of the country's industrial activity, grew 4.6 percent in May from a year earlier, government data released on Friday showed.
- Nomura To Slash Executive Pay In Wake of Insider Trading Scandal
June 29 2012 2:53 PM
Top Japanese securities firm Nomura Holdings, which has been caught in an insider trading scandal, will slash the compensation of its CEO, Kenichi Watanabe, and other top executives by as much as 50 percent for six months and lay off those involved in insider trading, the company said Friday.
- Abound Bankrupt; Third Government-Backed Solar Firm Goes Bust Within A Year
June 28 2012 6:41 PM
Abound Solar of Loveland, Colo., has become the third federally sponsored solar panel company to collapse in the past year, another blow to Obama's green energy and jobs efforts.
- Airbus Picks Alabama For First US Factory: Report
June 28 2012 4:04 PM
European airplane manufacturer Airbus SAS will build its first U.S. factory in Mobile, Ala., as it intensifies its competition with main rival, U.S.-based Boeing Co. (NYSE: BA), The Associated Press reported Thursday.
- Gold Prices Fall 1.8% On Euro Skepticism
June 28 2012 1:36 PM
Gold prices fell Thursday nearly 1.8 percent to $1,553.20, a new four-week low, in early afternoon trading amid pessimistic expectations of this week's European Union summit.
- Malaysia's Petronas Buys Progress Energy Resources For $5.35B
June 28 2012 12:46 PM
Malaysian natural oil and gas company Petroliam Nasional Bhd. (Petronas) paying $5.35 billion in cash for Canadian natural gas counterpart Progress Energy Resources Corp. (TSE:PRQ), the companies said Thursday.
- Curt Schilling's 38 Studios: Rhode Island On The Hook For $112 Million, Chafee Calls For Audit
June 27 2012 6:23 PM
Rhode Island taxpayers are on the hook for more than $100 million over the next eight years because of the collapse of 38 Studios, Former Red Sox and Phillies pitching ace Curt Schilling's video-game enterprise, which filed for bankruptcy earlier this month
- The Fed Is Yielding To The Government, Killing Private Businesses, Analysts Warn
June 27 2012 6:08 PM
The Federal Reserve is charting a course for more stringent capital reserve requirements for the largest banking institutions in the U.S., in line with new international rules representing the Basel III accord.
- Exxon Mobil CEO Says Global Warming Manageable
June 27 2012 3:49 PM
Exxon Mobil Corp. (NYSE: XON) CEO Rex Tillerson assured a New York City audience Wednesday of the world's ability to manage the effects of global warming, The Associated Press reported.
- Barclays Settles Claims For $453M In Interest Rate Scandal
June 27 2012 3:48 PM
Barclays Plc (NYSE: BCS) agreed Wednesday to pay $453 million in fines to settle claims made by U.S. and UK. bank regulators and law enforcement agencies for the bank's alleged involvement in a scheme to manipulate two global benchmark interest rates.
- Curt Schilling's Downfall; Investors Call His 38 Studios A Ponzi Scheme
June 25 2012 6:18 PM
Curt Schilling plummeted from riches to rags when his video-game outfit, 38 Studios, filed for Chapter 7 bankruptcy on June 7. The company's failure to raise funds from external investors crushed its cash flow, costing about 400 jobs and $75 million from taxpayers thanks to a loan guarantee from Rhode Island last year.
- Election of Muslim Brotherhood's Morsi Will Likely Improve Egypt?s Finances
June 25 2012 1:18 PM
With the victory of the Muslim Brotherhood candidate in Egypt's presidential runoff, the world's largest Arab nation appears set not just for a transition to democracy but also for economic growth, Egyptian officials said Monday after the election results were announced.
- Is AmazonSupply A Threat To Traditional Industrial Distributors?
June 22 2012 10:47 PM
The Amazon.com Inc. launch of AmazonSupply in April indicates the shift to online from offline commerce continues apace among industrial consumers, which increasingly prefer to buy goods electronically.
- GM Recalling 2011, 2012 Cruzes
June 22 2012 2:38 PM
General Motors Co. (NYSE: GM) will recall 413,418 Chevrolet Cruze cars manufacturered over the last two years, to alter the engine shield under the vehicles, the No.1 U.S. automaker said Friday.
- US Stocks Plunge On Goldman Sachs Advice
June 21 2012 3:43 PM
U.S stock indexes plunged Thursday after investment bank Goldman Sachs advised clients to bet on the S&P 500 falling about 4 percent and gloomy economic news from the U.S., China and the euro zone.