A judge extended an order on Tuesday barring hedge fund founder Ezra Merkin from shutting down funds that had invested with accused swindler Bernard L. Madoff or withdrawing money from them. New York State Supreme Court Justice Richard Lowe issued the extension in a lawsuit brought on December 23 by New York University, which says it [...]
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From Bloomberg:Purchases at U.S. retailers declined last week as post-Christmas markdowns failed to overcome what may have been the worst holiday shopping season in four decades.Sales at stores open at least a year dropped 0.8 percent in the seven days through Jan. 3, the International Council of Shopping Centers and Goldman Sachs Group Inc. said today in a statement. ICSC Chief Economist Micha...
Rob Curran reports: With so many money worries out there, economists say the distinction between a recession and a depression is not worth one thin dime. While the former has a formal definition, the latter is not much more than an “extreme” version of the former. Merriam-Webster’s collegiate dictionary gives the definition of a recession as a “period of reduced economic...
After receiving hundreds of billions of dollars in taxpayer-funded federal bailout money, the biggest U.S. banks say they can’t track how that money is being spent. Some of the banks are outright refusing to discuss the matter, a new study has found. "We have not disclosed that to the public. We’re declining to," Thomas Kelly, a spokesman for JP Morgan Chase & Co. (JPM...
Senate Banking Committee Market activity was improved somewhat today, the Bulls thought so at least. Major U.S. indices moved into positive territory from the opening bell and held green throughout the trading session. Senate Banking Committee seeks SEC Records for Madoff probe as the House Financial Services Committee conducted its first hearing Monday into the failures of the Securities and E...
Filed under: International markets, Russia, Middle East, Commodities, OilThere's nothing like a supply cut and geopolitical tension to put a floor under oil's price. Oil popped above $50 a barrel Tuesday after Kuwait and Qatar indicated they will implement supply cuts announced last month, and Russia shutoff gas shipments to Europe stemming from its natural gas dispute with Ukraine.Oil rose $1....
Google: Bernstein Cuts Rev Ests On Weak Keyword Pricing; Merriman Upgrades To Neutral From Sell
Tue, Jan 6, 9:15 AM ET
Bernstein Research analyst Jeffrey Lindsay this morning trimmed estimates on Google (GOOG) to reflect “the impact of the current macro-economic environment on keyword pricing.” Lindsay contends that paid click volumes have held up better than expected through the holiday season, with 9% growth in the U.S., 23% overseas growth and 16% growth overall. But he said keyword pricing did &...
Americans have an estimated $8.85 trillion in cash, bank deposits (CDs and savings accounts) and money market funds. [A trillion dollars is one thousand times one billion dollars or one million times a million dollars!] This is roughly equal to 74% of the market cap of the US stock market.[Chart posted on SiliconInvestor and cites the Federal Reserve Bank of St. Louis and Bloomberg for the stat...
By Richard StuebiSandwiched around the election of the first African-American President of the United States, we find the debacles associated with the collapse of the international finance sector and the imminent end of the American automotive industry as we've known it for decades -- accompanied by the scurrying of would-be leaders and experts around the world attempting to patch holes in the ...
The investing community is exhaling after the announcement that Apple CEO Steve Jobs has a treatable condition that is causing weight loss, and expects to regain strength in the next few months. The stock had been under pressure since the company announced that Mr. Jobs would not be delivering the keynote address at the company’s MacWorld conference, fueling speculation that Mr. Jobs, a c...