News blog
U.S. retailers’ sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse.
The figures, from the retail data service of MasterCard Advisors, show the 2008 holiday shopping season […]
Filed under: business by Wolf
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Add another economic worry to inflation and deflation: ecoflation, the rising cost of doing business in a world with a changing climate.
Ecoflation could hit consumer goods hard in the next five to 10 years, according to a report by World Resources Institute and A.T. Kearney, a global management consulting firm.
Companies that make fast-moving consumer […]
Filed under: finance by Wolf
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For almost 20 years, I’ve had the same investment adviser.
She and I don’t always agree. That’s why I like her.
Earlier this year, I asked her about a value fund manager who was lagging behind.
I wanted to sell the fund and put more into energy stocks.
"The big bargains are when a style is out of fashion. […]
Filed under: management by Wolf
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DuPont (DD.N: Quote, Profile, Research, Stock Buzz) expects to post a fourth-quarter loss and cut 2,500 jobs — about 4.2 percent of its workforce — amid steep drops in construction, car sales and consumer spending, the chemical maker said on Thursday.
The slump in the U.S. automotive markets has hurt DuPont badly, as it is […]
Filed under: economics by Wolf
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The nation’s stores finally got some relief this Thanksgiving weekend, according to data released late Monday, but the sales gains were modest and analysts worry the pace can’t be sustained through the season and beyond as shoppers worry about the recession.
Adding more pressure is that a later Thanksgiving this year means a […]
Filed under: term by Wolf
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World cell phone leader Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) is expected to bolster its offering of high-end phones at a media and industry event in Barcelona on Tuesday, where it is also due to outline a push into Internet services.
Nokia still dominates the market for smartphones — handsets with computer-like features such […]
Filed under: economics by Wolf
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General Motors Corp., once the world’s mightiest company, is on its knees today after reporting another huge quarterly loss that will prompt more cuts, including 500 extra layoffs in Oshawa.
Detroit-based GM said yesterday it spilled $2.5 billion (U.S.) in red ink during the three months ending Sept. 30 and warned it could run out of […]
Filed under: finance by Wolf
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Circuit City Stores Inc. said Monday it is closing about 20% of its U.S. stores - cutting thousands of jobs - in an effort to return the nation’s No. 2 consumer electronics retailer to profitability.
The Richmond, Va.-based company said it will shutter 155 of its more than 700 stores in 55 markets, including Phoenix […]
Filed under: marketing by Wolf
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Imre Apostagi says the hospital upgrade he's overseeing has stalled because his employer in Budapest can't get a foreign-currency loan.
The company borrows in foreign currencies to avoid domestic interest rates as much as double those linked to dollars, euros and Swiss francs. Now banks are curtailing the loans as investors pull money out […]
Filed under: legal by Wolf
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Treasury Secretary Henry Paulson said Wednesday that financial markets continue to be "strained" but he urged "patience" and said the federal government will use all tools necessary to ensure stability in the financial system.
"We will coordinate the use of our existing and new authorities to restore market confidence by strengthening financial institutions, preventing systemic […]
Filed under: news by Wolf
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