Doom spelled dollars at the box office as the global-disaster tale “2012″ opened at No. 1 domestically with $65 million and pulled in $225 million worldwide.
The Sony Pictures action saga tells the story of a scramble to save remnants of humanity aboard giant arks as the earth’s crust shifts and flood waters pour over most [...]
Archive for the ‘Global Recession’ Category
‘2012′ has worldwide box-office bang of $225M
November 15th, 2009 by Financial Writer
Tags: 2012, dollars, global disaster, sony pictures
more...Warren Buffett: The financial panic is over
November 13th, 2009 by Financial Writer
Capitalism is still alive and well, say the world’s two richest men, despite lingering shocks from the longest, deepest recession since the Great Depression.
“The financial panic is behind us,” said famed investor Warren Buffett, who recently made what he called an “all-in wager” on the U.S. economy by acquiring railroad Burlington Northern Santa Fe. “The [...]
Tags: american businesses, financial panic, investor, us economy, warren buffett
United Technologies to buy GE’s security business
November 12th, 2009 by Financial Writer
United Technologies Corp. on Thursday said it will acquire General Electric Co.’s fire detection and security business for $1.82 billion.
United Technologies said the deal will strengthen its own security operations in North America. Its fire and security portfolio currently includes products such as portable fire extinguishers, consumer security systems, and gas and flame detection products.
The [...]
Tags: general electric, security business, strategic businesses, transaction, united technologies
U.S., Asian finance ministers see common goals
November 11th, 2009 by Financial Writer
The United States and Asia are inextricably linked and must work together to build a more stable economy, top U.S., Indonesian and Singaporean finance officials wrote in an editorial to be published on Thursday.
In the editorial prepared for the Wall Street Journal Asia, U.S. Treasury Secretary Timothy Geithner, Indonesian Finance Minister Sri Mulyani Indrawati and [...]
Tags: finance minister, stable economy, United States economy, wall street
World Bank warns unemployment threatens US economy
November 11th, 2009 by Financial Writer
Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.
Zoellick warned that the U.S. unemployment rate, which jumped to a 26-year high of 10.2 percent in October, will likely remain elevated in 2010.
“You’re going to [...]
Tags: business investment, loans, mortgages, recession, unemployment, us economy, world bank
Bear Stearns execs acquitted of subprime fraud
November 10th, 2009 by Financial Writer
Two former Bear Stearns hedge-fund managers have been acquitted of lying to investors about the implosion of the subprime mortgage market.
A Brooklyn jury found Ralph Cioffi and Matthew Tannin not guilty Tuesday on all counts of conspiracy and fraud. It was the first criminal case to hit Wall Street amid the housing market meltdown.
Prosecutors claimed [...]
Tags: bear stearns, housing market, investors, mortgage, mortgage market, wall street
Dodd to Propose Removing Fed, FDIC Bank Supervision
November 10th, 2009 by Financial Writer
Senator Christopher Dodd will propose creating a single U.S. regulator that would strip the Federal Reserve and Federal Deposit Insurance Corp. of bank- supervision authority, said a person familiar with the matter.
Dodd, chairman of the Senate Banking Committee, would eliminate the Office of the Comptroller of the Currency and the Office of Thrift Supervision and [...]
Tags: bank supervision, banking committee, christopher dodd, fdic, fed, Federal Reserve, financial
Can’t find the hot new toy? Blame the economy
November 9th, 2009 by Financial Writer
Robotic toy hamsters, the latest Barbie dolls and stylish boots are disappearing from store shelves as holiday shoppers start to get serious. But don’t confuse this with the days of Tickle Me Elmo.
Instead of a throwback to great buying binges of the past, the empty shelves are just another sign of bad times.
The shortages come [...]
Tags: economy, hasbro, inventories, money, thanksgiving, toy
Fed says banks eye tighter terms on credit cards
November 9th, 2009 by Financial Writer
Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the Federal Reserve said Monday.
A quarterly survey by the Fed found that many banks expect to increase rates, reduce credit limits and raise annual fees for both prime borrowers — those with [...]
Tags: banks, borrowers, credit cards, economic recovery, Federal Reserve, increase rates
Suspect in Orlando office shooting had money woes
November 6th, 2009 by Financial Writer
A man so broke that he said he didn’t have the money to visit his son 30 minutes away opened fire Friday at the engineering firm that fired him two years ago, killing one person and wounding five, authorities said.
As officers led a handcuffed Jason Rodriguez into a police station, a reporter asked the divorced [...]
Tags: bankruptcy, financial, killing, money