May 17, 2011 – The International Monetary Fund’s (IMF) chief Dominique Strauss-Kahn was arrested over the weekend on charges of attempted rape and other criminal charges. He stands accused of sexual assault of a 35 year-old maid in his New York hotel room. The Manhattan Criminal Court case alleges Strauss-Kahn “engaged in sexual conduct with [...]
May 16, 2011 – Today the United States officially reached its current debt ceiling. Special measures by the Obama administration have held off a default on the $14.3 trillion debt until August 2. President Obama is officially sounding the panic alarm over congress’s failure to come to agreement on terms and raise the debt ceiling. [...]
May 13, 2011 – Executives for the five largest U.S oil companies were on Capital Hill Thursday, testifying before the Senate finance committee. Executives were “grilled” about the tax breaks they receive, while regular Americans are paying over $4 a gallon at the pump. Oil industry supporters, include many Republicans in Congress say oil companies [...]
May 11, 2011 – Raj Rajaratnam, co-founder of Galleon Group was found guilty on 14 counts of insider trading Wednesday. The hedge-fund tycoon has been the subject of one of the largest insider-trading crackdowns in U.S. history. Preet Bharara, United States attorney for the Southern District of New York, has promised to crack down on [...]
May 7, 2011 – There’s no wonder Americans are confused about the direction of the economic recovery. Friday the Labor Department release the jobs numbers for April. Employers added 244,000 jobs while at the same time the unemployment rate rose from 8.8 percent to 9 percent. How can that be? The explanation is that the [...]
May 6, 2011 – Economists estimate fewer jobs added in April compared to March, are in part due to rising gas prices. The economy is showing no signs of significant growth, and the rate of growth seems to slowing, 198,000 jobs were created in April, compared to 216, 000 jobs in March. Experts predict the [...]
May 3, 2011 – With the rising costs of fuel, American’s are looking to purchase smaller cars as is evidenced by the April car sales numbers released this week. New car models like the Ford Focus and the Hyundai Elantra, vehicles that get more than 35 miles per gallon lead the way to the increased [...]
May 2, 2011 – Earnings season continues on a high note this week as Chrysler reported a Q1 profit for the first time since coming out of bankruptcy in 2009. Net income for first-quarter 2011 was reported out at $116 million. Comparatively, Chrysler posted a net loss of $197 million in Q1 2010, just one [...]
Apr 28, 2011 – The good news: The Dow Jones Industrial Average collected closed above 12,600 Wednesday, the highest close it’s seen since May, 2008. The not so good news: According to the Commerce Department, the U.S. economy grew 1.8% in the first quarter 2011, a pace much slower than the 3.1% growth seen in [...]
Apr 27, 2011 – Ben Bernanke held his first ever news conference Wednesday, here are the highlights of what the chairman of the Federal Reserve said: The Federal Reserve announce today that they will not raise interest rates. Housing remains depressed and is expected to make a very moderate recovery through 2011 with some acceleration [...]
