Bank of America Corp completed its purchase of Merrill Lynch & Co and Wells Fargo & Co finished buying Wachovia Corp, the latest sea changes in a transformed banking industry facing dire economic...
Read more »Bank of America, Wells close mergers as banking transforms
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Russia Flexes Some Muscle, Cuts Off Gas Supply to Ukraine
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In an ongoing disagreement between the two countries, Russia has decided to play hardball after talks broke down over a contract renewal.
Read more »Google tells companies to drop Internet Explorer 6
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The last bastion of IE6 hold-outs, corporate users, are being targeted by Google. Users of Gmail, including any companies using the services of Google Apps, are being advised to dump IE6 in favour of Chrome, Firefox or IE7.
Read more »Is the Euro the New Dollar?
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The euro turns ten on Jan. 1, a milestone for one of the most powerful symbols of European identity. It's a remarkable achievement for a currency whose only global rival is the U.S. dollar. European Commission President José Manuel Barroso credits the euro for delivering lower inflation, "To put it simply, the euro works."
Read more »Top Dell executives leave as PC maker restructures
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Two top executives at Dell Inc are leaving the No. 2 PC maker as part of a reorganization designed to boost sales as it struggles to regain share from bigger rival Hewlett-Packard Co. Dell said that marketing chief...
Read more »Cure for the Auto Industry: Trust funds, not bailouts
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Billionaire philanthropist Eli Broad suggests unique solutions for the auto industry - and a public bailout isn't one of them.
Read more »Survey: Oil May Lose Top Rank as Cheapest Energy
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Over the next 20 years, oil and natural gas will lose top ranking as the world's most affordable energy sources, according to a survey of energy executives released Wednesday. Deeper wells in more inhospitable places, both political and geological, have altered presumptions of doing business in the oil patch.
Read more »Dow Posts Worst Year Since 1931
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The Dow gained 1.3% in 2008's final session, closing one of the stock market's worst years on a sunny note. Blue chips fell 34% for the year, the S&P 500 plummeted 39% and the Nasdaq was off 41%. Oil prices jumped.
Read more »Will oil prices recover after tanking in 2008?
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The oil price gyrated wildly in 2008, hitting an all-time high above $147 a barrel on July 3 – followed by four-year lows. The big question now is: Where next?
Read more »Money: Now Is A Good Time Lock In Interest Rates With CDs
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If you're a saver, the Fed flipped you the bird this week. They dropped interest rates and introduced "quantitative easing," two things that will make interest rates plummet. Here's how you can protect yourself.
Read more »10 Years of the Euro - Is it Fullfilling its Promise?
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Jan. 1, 1999 was the arrival of the euro, economists say the new currency is finally fulfilling its promise as a way to lower borrowing costs, ease trade and tourism, boost growth and strengthen the European community. Even amid a global financial crisis that underlines the safety in numbers that comes from one big currency.
Read more »Gas prices: Five-year low and falling!
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Gas prices fell for the ninth consecutive day, according to a survey of credit card swipes at service stations across the nation released on Sunday. Prices are down 60% from the record high of $4.114 a gallon touched on July 17.
Read more »Dishonest Lenders Saddle Grads With Crushing Debt
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Natalie Hickey picked up $140k in student debt, some of it at interest rates as high as 18%. Her monthly payments are roughly $1,700, more than her rent and car payment combined. Caught in an increasingly common trap in the nation's $85-billion student loan market, Hickey borrowed heavily, presuming that all her debt was part of the federal loans
Read more »For stores, a very un-merry holiday season
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The 2008 holiday sales season is one of the worst for retailers in decades, as consumers' concerns about the economy and job losses crushed the typical year-end shopping exuberance. 'I don't see any reason for retailers to be rejoicing at all," said Britt Beemer, chairman and founder of America's Research Group.
Read more »Naughtiest and Nicest C.E.O.’s of 2008
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Glassdoor.com, a site that lets employees anonymously review their employers and share salary information, is out with a list of the naughtiest and nicest chief executives of 2008, based on those reviews. Nicest: Arthur D. Levinson of Genentech. Nautiest: Office Depot's Steve Odland.
Read more »GM sues bankrupt supplier for access to parts
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General Motors Corp. is suing a bankrupt automotive supplier for immediate access to specialized parts and equipment, arguing that a delay would hamper the launch of its new Chevrolet Camaro, disrupt assembly operations and cause millions of dollars in damages it can ill afford.
Read more »8 of 10 Worst U.S. Real Estate Markets Are in California
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According to recent statistics, eight of the 10 worst markets for buying a home in the U.S. are in the Golden State.
Read more »Cash-Strapped States Contemplate Selling Off Roads & Parks
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Minnesota is deep in the hole financially, but the state still owns a premier golf resort, a sprawling amateur sports complex, a big airport, a major zoo and land holdings the size of the Central American country of Belize.
Read more »Imagine: Lennon in TV ad 28 years after his death
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Imagine, John Lennon makes a television commercial for charity -- 28 years after his death. Through the use of digital technology, the former Beatle urges people across the United States to support a campaign by ''One Laptop per...
Read more »2008 Could Be Worst Year Ever for Wall Street
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As the stock market heads into the last week of the year, what was inconceivable just 12 months ago is now a stark possibility: 2008 could be the worst year ever for Wall Street.
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