More From IBT Staff Reporter
SEC charges Hennessee on Bayou hedge fund miss
U.S. securities regulators charged a prominent hedge fund industry executive on Wednesday with failing to properly review collapsed hedge fund Bayou Group before recommending that their clients invest.
Apr 22, 2009
T-Mobile to offer one-payment BlackBerry contract
Operator T-Mobile UK is to offer a BlackBerry phone with a year's unlimited email and Internet access and pay-as-you-go calls in exchange for a one-off fee in its bid to lure more small business and young customers.
Apr 22, 2009
Turks and Caicos Islands
The Turks and Caicos Islands consist of 40 islands and cays, eight of which are inhabited. The islands are located 550 miles southeast of Miami, Florida, just below the Bahamas chain and just to the east of Cuba and the island of Hispaniola (Dominican Republic and Haiti.) Technically, the Turks and Caicos are located in the Atlantic Ocean, not the Caribbean Sea.
Apr 22, 2009
U.S. dealers to meet autos task force Thursday
U.S. auto dealer representatives will meet with the government task force charged with retooling the auto industry on Thursday to make the case that a bankruptcy for General Motors Corp should not be an option, a dealer group said on Wednesday.
Apr 22, 2009
VW, Peugeot, Volvo highlight auto sector woes
Plunging profit at Volkswagen (VOWG.DE), slumping sales at PSA Peugeot Citroen (PEUP.PA) and job cuts by Volvo (VOLVb.ST) on Wednesday highlighted the dire state of Europe's automotive industry.
Apr 22, 2009
Transition Focus from Family-Owned to Value-Added
I am seeking a job as an Accounting/Operations Manager. Half of my experience (aside from education) comes from running a family-owned (i.e., my husband is the President) business. I've been meeting with recruiters and submitting my résumé for consideration online for certain opportunities, without much luck. Could working for a family business affect my ability to get a job? How do I overcome th...
Apr 22, 2009
U.S. looks to tangible common equity in stress tests
U.S. regulators want the top 19 banks being stress-tested to have at least 3 percent tangible common equity, according to a source familiar with the regulatory talks.
Apr 22, 2009
New Bluetooth v3.0 up to 8x faster
Bluetooth technology version 3.0 gets up to 8x more faster as it was announced from an ongoing event “Version 3.0 – Bluetooth Technology, Faster an annual all hands meeting conference in Tokyo this week.
Apr 22, 2009
Freddie executive death apparent suicide: police source
The finance chief of troubled U.S. mortgage giant Freddie Mac, David Kellermann, was found dead on Wednesday after apparently committing suicide, a police source said.
Apr 22, 2009
Home prices take a 6.5 percent slump
U.S. single family homes saw a seasonally adjusted price increase of 0.7 percent in February from January, the amount however remains down 6.5 percent from a year earlier, the Federal Housing Finance Agency said on Wednesday.
Apr 22, 2009
Freddie Mac acting CFO David Kellerman in apparent suicide
David Kellermann, the acting chief financial officer of cash-strapped giant Freddie Mac, was found dead at his home Wednesday morning in what police said was an apparent suicide.
Apr 22, 2009
Wall Street up on positive earnings, outlooks
Stocks rose on Wednesday as several corporate executives gave positive outlooks that eased concerns about the global recession, while better-than-expected results from AT&T Inc lifted technology shares.
Apr 22, 2009
Microsoft judge says oversight process at much better place
The judge overseeing Microsoft's antitrust settlement extended her monitoring of the software giant by 18 months on Wednesday, while noting the oversight was at a much better place than a few months ago.
Apr 22, 2009
GM says likely to miss debt payment deadline
General Motors Corp is unlikely to make a $1 billion debt payment due June 1 because it expects to be in the process of restructuring its debt through a voluntary exchange or bankruptcy court by that point, a spokeswoman for the automaker said on Wednesday.
Apr 22, 2009
Morgan Stanley posts loss, slashes dividend
Morgan Stanley posted a wider-than-expected quarterly loss on Wednesday and slashed its dividend as real estate investment losses and a debt-related charge wiped out strong trading and banking fees.
Apr 22, 2009
AT&T profit boosted by iPhone, video, Internet
AT&T Inc posted a smaller-than-expected drop in quarterly profit on improved margins for its wireless service, helped by the iPhone, and strong growth for its video and high-speed Internet service.
Apr 22, 2009
Dealers to meet autos task force: sources
U.S. auto dealer representatives will meet with the government task force charged with retooling the auto industry on Thursday to make the case that a bankruptcy for General Motors Corp should not be an option, people briefed on the planned meeting told Reuters on Wednesday.
Apr 22, 2009
In app store war, BlackBerry, Google hold own
Mega-malls may be big, but when you need a fart noise generator, sometimes it's the smaller shops that do the trick -- at least that's true of the crop of virtual mobile retailers called app stores.
Apr 22, 2009
February home prices up, down 6.5 percent in year
Prices of U.S. single-family homes rose by a seasonally adjusted 0.7 percent in February from January but were down 6.5 percent from a year earlier, the Federal Housing Finance Agency said on Wednesday.
Apr 22, 2009
Wall Street up on positive outlooks, but energy hits Dow
The S&P 500 and the Nasdaq rose on Wednesday as several corporate executives gave positive outlooks that eased concerns about the global recession, while a better-than-expected profit from AT&T lifted technology shares.
Apr 22, 2009
Boeing profit narrows as economy hits orders
Boeing Co said its quarterly profit narrowed due to order deferrals by cash-strapped airlines, but its shares rose as the planemaker affirmed its production schedule.
Apr 22, 2009
Microsoft CEO says not interested in hardware buys
Microsoft is not interested in buying any hardware companies, Chief Executive Steve Ballmer said in Cairo on Wednesday.
Apr 22, 2009
EU assembly adopts new price curbs on phone calls
Using a mobile phone to send text messages or surf the Web by laptop will be up to 60 percent cheaper for travelers in the European Union under price curbs adopted by the European Parliament on Wednesday.
Apr 22, 2009
Ford Motor doubts Q1 outlook, but future looks bright
Ford Motor Co said Tuesday it expects first quarter results to be lower, but shares jumped on as analyst upgraded the firm citing a brighter future.
Apr 22, 2009
Amazon Kindle materials half device's retail price: iSuppli
Amazon's Kindle 2 electronic reader retails for $359 but costs about half that amount to build, research group iSuppli Corp said on Wednesday.
Apr 22, 2009
Wells Fargo has record profit, tops in mortgages
Wells Fargo & Co posted a record first-quarter profit of $3.05 billion as a surge in mortgage refinancings helped it displace Bank of America Corp as the nation's largest home lender.
Apr 22, 2009
Recession linked to more abortions, vasectomies
The pregnancy was unexpected, and for one 32-year-old single mother in Syracuse, New York, the ailing economy became a factor in her decision to have an abortion.
Apr 22, 2009
Freddie Mac executive committed suicide: police source
David Kellermann, acting chief financial officer of troubled U.S. mortgage giant Freddie Mac, was found dead on Wednesday in his suburban Virginia home after apparently committing suicide, a local police source said.
Apr 22, 2009
Goldman upgrades U.S. auto sector; raises Ford to buy
Goldman Sachs upgraded the U.S. auto sector to
Apr 22, 2009
Geithner acknowledges U.S. fault in crisis
The United States carries a substantial share of blame for the current economic crisis but the world must work together to ease the strains, Treasury Secretary Timothy Geithner said on Wednesday.
Apr 22, 2009
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