Economy Watch: January 10, 2010 - January 16, 2010
Corporations kicking in with Haiti relief
UPDATED Friday at 5:37 p.m. U.S. corporations are contributing to Haiti relief, donating millions of dollars to the devastated Caribbean nation. -- The Walt Disney Co. may have been first up to the plate with a big donation, saying on...
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Frank Ahrens
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January 15, 2010; 5:37 PM ET |
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Corporations
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The Ticker
| Tags: Abbott Labs, Apple, Bank of America, Disney, FedEx, Google, Haiti, Home Depot, Jefferies, Lowe's, UPS, Verizon, Walt Disney
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Is Google the hammer that brings down China's wall?
Here's a proposition for you: Google is to China the way VCRs were to the Soviet Union the way cassette tapes were to the shah of Iran. Follow that? We know from history that technology has played a key role...
By
Frank Ahrens
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January 15, 2010; 2:43 PM ET |
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Corporations
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The Ticker
| Tags: Baidu, China, Google, Soviet Union
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Consumer confidence essentially flat in January
Consumer confidence remained essentially flat in the first part of January compared with December, the Reuters/University of Michigan survey out moments ago said. The consumer confidence index came in at 72.8 in January, up from 72.5 in December. The index...
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Frank Ahrens
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January 15, 2010; 10:08 AM ET |
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The Ticker
| Tags: consumer confidence
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Stocks open lower following inflation data
Stocks are down following a report out this morning showing that December inflation was all but nonexistent and prior to the long weekend. In the first 15 minutes of trading, the Dow is down one-quarter of 1 percent. The broader...
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Frank Ahrens
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January 15, 2010; 9:55 AM ET |
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The Ticker
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Wall Street
| Tags: Dow Jones, inflation, nasdaq, s&p 500
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Miami official: 70% of defaulted mortgages are fraudulent
UPDATED at 12:34 p.m.: Day Two of the Financial Crisis Inquiry Commission has been underway for a while now, as Chairman Phil Angelides and his commissioners try to "figure out what the heck happened," as he has said, in the...
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Frank Ahrens
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January 14, 2010; 12:34 PM ET |
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Congress
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Housing
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Regulation
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The Ticker
| Tags: Financial crisis inquiry commission, Phil Angelides, fcic
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Stocks mixed following jobless, retail news
Stocks are mixed at opening following two disappointing pieces of economic data out this morning. In the first 15 minutes of trading, the Dow is up less than one-tenth of 1 percent. The broader S&P 500 is down less than...
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Frank Ahrens
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January 14, 2010; 9:59 AM ET |
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The Ticker
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Wall Street
| Tags: Dow Jones, nasdaq, retail sales, s&p 500, unemployment
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U.S. railroads in biggest slump since 1988
How quickly things change: It was only two springs ago that I wrote a story, detailing the resurgence of the long-dormant U.S. freight rail system, thanks to booming global trade and soaring gasoline prices. Railroads like the one I wrote...
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Frank Ahrens
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January 13, 2010; 5:18 PM ET |
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The Ticker
| Tags: Association of American Railroads, Burlington Northern, Norfolk Southern, Warren Buffett, railroads, trains
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Report: Bank of America cutting cash portion of bonuses
Bank of America, which got and repaid $45 billion in taxpayer money, will significantly cut the cash portion of the bonuses it pays to executives, tilting more toward stock rewards, Bloomberg is reporting. Senior bankers will get only 5 to...
By
Frank Ahrens
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January 13, 2010; 2:47 PM ET |
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Corporations
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The Ticker
| Tags: Bank of America, bonuses, executive compensation
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Adviser: Crisis would have happened even if housing prices had flattened
UPDATED at 2:00 p.m. The Financial Crisis Inquiry Commission -- the government's panel that was set up to figure out, as much as possible, the cause of the financial crisis -- kicked off its much-anticipated hearing this morning, featuring testimony...
By
Frank Ahrens
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January 13, 2010; 2:00 PM ET |
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Bailout
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Congress
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Corporations
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Housing
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The Ticker
| Tags: Bank of America, Brian Moynihan, Financial crisis inquiry commission, Goldman Sachs, J.P. Morgan Chase, John Mack, lloyd blankfein
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Why corporate 'bonuses,' though huge, are more like paychecks
Here's a good story in Monday's Wall Street Journal that breaks down the bonuses set to be paid to executives at big banks, all of which got some form of taxpayer-funded bailout. There has been plenty of outrage over compensation...
By
Frank Ahrens
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January 12, 2010; 3:36 PM ET |
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Bailout
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Corporations
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The Ticker
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Wall Street
| Tags: bonuses, executive compensation
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U.S. Chamber: We'll be heavily involved in mid-term elections, we get along 'fine' with White House
U.S. Chamber of Commerce President Tom Donohue held a spicy press conference after his annual state of U.S. business address this morning at the chamber headquarters in Washington, and said that he "gets along fine" with the White House, despite...
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Frank Ahrens
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January 12, 2010; 12:44 PM ET |
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Obama
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The Ticker
| Tags: Obama, Tom Donohue, U.S. Chamber of Commerce
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U.S. Chamber: Taxes, deficit could hurt wobbly recovery
There are some positive signs that the damaged economy is starting to recover, but those could easily be snuffed out by policies being put in place by the federal and local governments, U.S. Chamber of Commerce President Tom Donohue plans...
By
Frank Ahrens
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January 12, 2010; 9:00 AM ET |
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Obama
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The Ticker
| Tags: Obama, Thomas Donohue, U.S. Chamber of Commerce
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SEC seeking more charges against Bank of America over Merrill deal
The Securities and Exchange Commission is seeking additional charges against Bank of America over its looking-worse-by-the-moment purchase of brokerage Merrill Lynch early last year. These additional charges stem from Bank of America's failure to disclose billions of dollars in mounting...
By
Frank Ahrens
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January 11, 2010; 4:32 PM ET |
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Categories:
Bailout
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Fed Reserve
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Regulation
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The Ticker
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Wall Street
| Tags: Bank of America, Ben Bernanke, Hank Paulson, Merrill Lynch
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Analyst: First five days of year a good indicator for full-year S&P performance
Last week, I told you about the January Indicator -- the link between stock performance in the S&P 500 in January and the remainder of the year. Today, Citi chief equity strategist Tobias Levkovich expanded on the January Indicator in...
By
Frank Ahrens
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January 11, 2010; 4:10 PM ET |
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The Ticker
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Wall Street
| Tags: Citi, Tobias Levkovich, s&p 500
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China passes U.S. as world's largest auto market
For years, Western businesses have been looking at China's 1 billion citizens and licking their chops at the world's largest, most untapped consumer market. That future is finally coming true: China has officially passed the U.S. as the world's biggest...
By
Frank Ahrens
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January 11, 2010; 3:02 PM ET |
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The Ticker
| Tags: Buick, China, GM, General Motors, Volkswagen, auto sales, cash for clunkers
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Tucker Carlson's 'Daily Caller' launches today
Not economic news, but I wanted to give a shout-out to my buddy Tucker Carlson's Daily Caller news and opinion site, which launched today, and which can be seen by clicking here. Carlson, a conservative commentator and former host of...
By
Frank Ahrens
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January 11, 2010; 12:15 PM ET |
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Categories:
Personalities
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The Ticker
| Tags: Daily Caller, Tucker Carlson
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Stocks mixed following China export news
Stocks opened mixed this morning following strong export news from China that sent markets higher elsewhere around the globe. In the first 15 minutes of trading, the Dow is down less than one-tenth of 1 percent. The broader S&P 500...
By
Frank Ahrens
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January 11, 2010; 10:01 AM ET |
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Categories:
The Ticker
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Wall Street
| Tags: Dow Jones, nasdaq, s&p 500
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