Daily News Alert | Sunday, May 31, 2009 12:01 AM PDT |
GM board meets as bondholder deadline passes
Sat, 30 May 2009 10:24 pm PDT
 AP - General Motors Corp.'s board of directors met for a second day Saturday to make the final decision on whether the automaker would complete its restructuring by filing for bankruptcy protection Monday. Full Story | Top |
Tailfins, V-8s and Corvettes: The wake of an icon
Sat, 30 May 2009 06:47 pm PDT
 AP - For generations, General Motors fueled America's love affair with the automobile, building cars that defined their owners' status in life and the industrial might of the nation. But less than a year after entering its second century, the company that survived wars, international rivalry and even the Great Depression is being driven by the government into bankruptcy court. Full Story | Top |
Merkel greets Magna plan to acquire GM's Opel unit
Sat, 30 May 2009 05:01 am PDT
 AP - General Motors Corp. will sell its Opel unit and other European assets to Canada's Magna International Inc. in a deal German Chancellor Angela Merkel said Saturday would protect the assets from GM's likely bankruptcy. Full Story | Top |
Asia: Weathering the Economic Crisis
Fri, 29 May 2009 05:08 am PDT
BusinessWeek Online - Cebu, Philippines - Painful economic slowdowns are nothing new to Southeast Asia. The region went through its own gut-wrenching financial crisis more than a decade ago in what now seems like a dress rehearsal for today's turmoil. Companies defaulted, banks collapsed, stock markets tanked, and economies shrank at double-digit rates as foreign investment slowed to a trickle. But Southeast Asia dutifully swallowed the bitter pill of austerity, devaluing currencies and working off debt while banks restructured and companies patched up balance sheets. Full Story | Top |
Gen. Petraeus calls for civilian 'world changers'
Fri, 29 May 2009 09:17 am PDT
AP - The head of the U.S. Central Command said Friday the nation needs a new generation of civilian "world changers" who can help bolster the troubled economy, fix the health care crisis and tackle other pressing challenges in the future. Full Story | Top |
U.S. FHA to apply $8,000 credit to home buying costs
Fri, 29 May 2009 08:01 am PDT
 Reuters - The Federal Housing Administration will allow the new $8,000 first-time homebuyer tax credit to be applied directly toward home purchase costs when using an FHA-insured mortgage, the Department of Housing and Urban Development said on Friday. Full Story | Top |
Retail giant Wal-Mart opens in India
Sat, 30 May 2009 09:17 am PDT
 AFP - The world's number one retailer Wal-Mart opened its first sales venture in India on Saturday as part of an ambitious plan to establish a foothold in the country's vast consumer market. Full Story | Top |
ALL BUSINESS: Ex-Countrywide execs to aid housing
Sat, 30 May 2009 05:05 am PDT
AP - Countrywide Financial placed itself at the epicenter of the housing crisis by making far too many risky loans to homeowners who ultimately couldn't afford them. Those missteps cost CEO Angelo Mozilo his job when the lender was taken over by Bank of America a year ago at a fire sale price. Full Story | Top |
Oil hits 6-month high above $66 on economic hopes
Fri, 29 May 2009 12:44 pm PDT
 Reuters - Oil rose to a six-month high above $66 per barrel on Friday, marking its largest monthly percentage gain in more than a decade, after U.S., Japanese and Indian data suggested the economic downturn may be easing. Full Story | Top |
Age of Anxiety
Fri, 29 May 2009 05:08 am PDT
BusinessWeek Online - Young Kids The long-term psychological effects may be most profound for young children, since they are growing up without any real memory of better times. They can pick up on parents' anxiety about money and may see the world as an uncertain place where they have to struggle to succeed. Later this may make them cautious about career choices and financial decisions. Full Story | Top |
Finding Higher Returns With Lower Risk
Fri, 29 May 2009 05:08 am PDT
BusinessWeek Online - Investors have seen firsthand what damage volatility can do to portfolios, and nerves, as market swings have taken them on a wild ride. While Wall Street's "fear gauge," the Chicago Board Options Exchange Volatility Index, recently dropped to a low not seen since before Lehman Brothers declared bankruptcy in September, risk levels remain far above average. "Volatility is off the crisis extremes, but from a historical standpoint it's still at elevated levels," says Wasif Latif, assistant vice-president for equity investments at USAA Investment Management. Full Story | Top |
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