Economy News 12/24/2006
Economy News
China looks to update property, tax laws AP - Sun Dec 24, 2:35 PM ET
BEIJING - Parliament on Sunday took up measures meant to bring Chinese law into line with a more open, capitalist-style economy by protecting private property and equalizing taxes for foreign and domestic companies.
Consumers boost buying during holidays AP - Fri Dec 22, 1:46 PM ET
WASHINGTON - Keeping the nation's cash registers ringing, consumers boosted their spending in November by the largest amount in four months, raising hopes shoppers will act more like Santas than Scrooges during the holidays.
Consumer confidence ebbs, boosts rate hopes Reuters - Fri Dec 22, 11:46 AM ET
NEW YORK (Reuters) - U.S. consumer confidence ebbed in December, while a key measure of inflation held steady in November for first time in four years, boosting the chances of Federal Reserve interest rate cuts in 2007.
Consumer sentiment dips going into holidays Reuters - Fri Dec 22, 10:48 AM ET
NEW YORK (Reuters) - U.S. consumer sentiment slipped in December but was not far from the year's highs, a report said on Friday, suggesting Americans were guardedly optimistic about the economy in the holiday season.
Investor optimism dips in Dec from Nov peak Reuters - Fri Dec 22, 8:33 AM ET
NEW YORK (Reuters) - Investor confidence in the U.S. economy fell slightly in December but still remained high, responding to rallying stock markets and the shift from a Republican to a Democratic Congress, according to the UBS/Gallup Index of Investor Optimism released on Friday.
Stock Markets News
Economic growth concerns drag down indexes Reuters - Fri Dec 22, 4:41 PM ET
NEW YORK (Reuters) - U.S. stocks dropped on Friday as concerns about slowing economic growth persisted, causing investors to sell shares of bellwether companies such as plane maker Boeing Co. and leaving all three major indexes in the red for the week.
Wall Street set to close year quietly AP - Sun Dec 24, 9:26 PM ET
NEW YORK - Investors are expected to spend the last week of 2006 getting their portfolios in order, taking advantage of a slow period on Wall Street where volume plunges to its lowest levels of the year.
Wall Street slips in light holiday trade AP - Fri Dec 22, 11:08 PM ET
NEW YORK - Stocks slid Friday after waning enthusiasm among investors ahead of the holiday weekend overshadowed data showing higher consumer spending and a jump in sales of big-ticket goods in November. A weak bond market also weighed on stocks.
Red Hat among big movers on Wall Street AP - Fri Dec 22, 12:39 PM ET
NEW YORK - Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
CORRECTED: Fight over NASD-NYSE regulatory merger escalates Reuters - Fri Dec 22, 10:37 AM ET
NEW YORK (Reuters) - A group of smaller brokerage firms, seeking to block the proposed merger of Wall Street's top self-regulators, said on Thursday it has enough support to derail the deal and charged regulators with trying to steer votes.
Earnings News
Research In Motion 3Q profit rises AP - Sun Dec 24, 8:37 PM ET
NEW YORK - Shares of Research in Motion Ltd. rose nearly 2 percent Friday, a day after the BlackBerry maker said its fiscal third-quarter earnings rose 47 percent and it added 875,000 subscribers for the period.
Krispy Kreme 1Q loss narrows AP - Fri Dec 22, 3:49 PM ET
NEW YORK - Doughnut maker Krispy Kreme Doughnuts Inc. Friday filed its long-delayed quarterly report with regulators and said its loss in the fiscal first-quarter narrowed in the absence of hefty charges.
Krispy Kreme posts loss in delayed report Reuters - Fri Dec 22, 3:45 PM ET
CHICAGO (Reuters) - Krispy Kreme Doughnuts Inc. posted a first-quarter loss on Friday and said revenue fell slightly less than expected in a delayed quarterly report filed with U.S. regulators.
Progress at Last? The Motley Fool - Fri Dec 22, 3:21 PM ET
Is this truly the most wonderful time of the year? For normal people, I'd say the answer is most likely yes. But for that special breed of person we call the investor, there's an even more wonderful, and four times more frequent, time: earnings season.
Walgreen 1Q profit surges 25 percent AP - Fri Dec 22, 1:03 PM ET
CHICAGO - Walgreen Co., the nation's biggest drugstore chain by revenue, reported better-than-expected first-quarter profits Friday as sales surged 17 percent on strong results from prescription drugs.
Personal Finance News
China considers same tax rate for domestic, overseas firms AFP - Sun Dec 24, 12:30 PM ET
BEIJING (AFP) - Chinese lawmakers have mulled a draft law that would impose a 25 percent income tax on both domestic and foreign firms, eliminating the preferential rate for overseas companies, according to state media.
New rules enable healthy savings Reuters - Sat Dec 23, 1:23 PM ET
WASHINGTON (Reuters) - Health Savings Accounts are a great deal, and they are about to get even better. The 109th Congress, in one of its final acts, expanded the tax breaks that are linked to these accounts.
Points for Mortgage Savvy The Motley Fool - Fri Dec 22, 10:10 AM ET
Homebuyers face a million decisions about which mortgage to choose, which house to buy, and which room covered with 1970s wood paneling to redecorate first. Among those questions is the quandary over whether to pay discount points to lower the interest rate on a mortgage.
Rates on 30-year mortgages up slightly AP - Thu Dec 21, 12:40 PM ET
WASHINGTON - Rates on 30-year mortgages, after sinking for a month, crept up for the second week in a row.
Column: Resolve to save more, cut debt AP - Wed Dec 20, 4:51 PM ET
NEW YORK - Resolved: I'm going to save more money, pay down my debt, check my credit report, improve my job prospects and review my life insurance. For those too lazy to come up with their own financial resolutions for the new year, these are the recommendations of consumer experts from around the country.
Industries
Automakers use better dummies in tests AP - Sun Dec 24, 8:37 PM ET
WASHINGTON - When General Motors Corp. engineer Jack Jensen started working with crash test dummies in the 1990s, the data collected from the devices was routed to recorders the size of a phone booth.
Toyota's 2007 vision as top automaker seen by US analysts AFP - Sun Dec 24, 12:40 PM ET
DETROIT (AFP) - Predictions by Toyota Motor Corp. executives the Japanese auto giant will sail past General Motors Corp. to become the world's top automaker hardly surprised analysts and other industry watchers.
NIH researcher sentenced in ethics case AP - Fri Dec 22, 2:27 PM ET
BALTIMORE - A federal researcher was ordered Friday to forfeit $300,000 and perform 400 hours of community service but will not have to pay a fine for failing to disclose lucrative consulting work with pharmaceutical giant Pfizer.
Walgreen 1Q profit surges 25 percent AP - Fri Dec 22, 1:03 PM ET
CHICAGO - Walgreen Co., the nation's biggest drugstore chain by revenue, reported better-than-expected first-quarter profits Friday as sales surged 17 percent on strong results from prescription drugs.
Portugal's Sonaecom sees no reason to raise offer for rival AFP - Sat Dec 23, 10:07 AM ET
LISBON (AFP) - Portuguese telecommunications firm Sonaecom sees no reason to raise its 9.5 euro per share hostile takeover offer for its larger rival Portugal Telecom, the president of the company's parent company Sonae has said.
Opinion
Strong Medicine for Bristol-Myers BusinessWeek Online - Fri Dec 22, 8:08 AM ET
Bristol-Myers Squibb said Dec. 21 that it reached a preliminary agreement to pay $499 million to settle several years of regulatory investigations into its drug pricing, sales and marketing activities.
Revenue Warning Jolts Jabil Shares BusinessWeek Online - Fri Dec 22, 8:08 AM ET
Jabil Circuit shares tumbled on Dec. 21, after the St. Petersburg (Fla.) electronic product manufacturing services company posted preliminary revenue results for the quarter ended Nov. 30 and warned of tougher times ahead.
Bears Bash Bed Bath & Beyond BusinessWeek Online - Fri Dec 22, 8:08 AM ET
Bed Bath & Beyond (NASDAQ:BBBY - News) share prices fell on Dec. 21, after the retailer announced quarterly results and higher expenses.
New rules enable healthy savings Reuters - Sat Dec 23, 1:23 PM ET
WASHINGTON (Reuters) - Health Savings Accounts are a great deal, and they are about to get even better. The 109th Congress, in one of its final acts, expanded the tax breaks that are linked to these accounts.
Mergers expected to spur more stock-buying Reuters - Fri Dec 22, 4:58 PM ET
NEW YORK (Reuters) - Major merger deals, which have been a key catalyst fueling recent stock market gains, are expected to remain in the forefront of investors' minds going into 2007 as the last week of the year closes out with a dearth of data and earnings.
Most Popular Business News
New rules enable healthy savings Reuters - Sat Dec 23, 1:23 PM ET
WASHINGTON (Reuters) - Health Savings Accounts are a great deal, and they are about to get even better. The 109th Congress, in one of its final acts, expanded the tax breaks that are linked to these accounts.
Yale makes MBA students study abroad AP - Sat Dec 23, 7:30 AM ET
NEW HAVEN, Conn. - For one group of graduate business students at Yale, next month's lessons will take place on pineapple, banana and coffee plantations in Costa Rica. Other Master of Business Administration students are checking out investment prospects in Tanzania and what's sizzling in Singapore.
So Cal Ed signs biggest U.S. wind contract Reuters - Thu Dec 21, 9:15 PM ET
LOS ANGELES (Reuters) - Electric utility Southern California Edison and Australian-based Allco Finance Group Ltd. have signed the biggest contract for wind power in U.S. history, the two companies said on Thursday.
Macy's pulls Sean John hooded jackets AP - Fri Dec 22, 6:24 PM ET
NEW YORK - Macy's has pulled from its shelves and its Web site two styles of Sean John hooded jackets, originally advertised as featuring faux fur, after an investigation by the nation's largest animal protection organization concluded that the garments were actually made from a certain species of dog called "raccoon dog."
Hong Kong passes NYC in attracting IPOs AP - Sun Dec 24, 2:12 PM ET
HONG KONG - Hong Kong surged past New York this year and became the world's second most popular place — after London — for companies to float new stock listings.
China looks to update property, tax laws AP - Sun Dec 24, 2:35 PM ET
BEIJING - Parliament on Sunday took up measures meant to bring Chinese law into line with a more open, capitalist-style economy by protecting private property and equalizing taxes for foreign and domestic companies.
Consumers boost buying during holidays AP - Fri Dec 22, 1:46 PM ET
WASHINGTON - Keeping the nation's cash registers ringing, consumers boosted their spending in November by the largest amount in four months, raising hopes shoppers will act more like Santas than Scrooges during the holidays.
Consumer confidence ebbs, boosts rate hopes Reuters - Fri Dec 22, 11:46 AM ET
NEW YORK (Reuters) - U.S. consumer confidence ebbed in December, while a key measure of inflation held steady in November for first time in four years, boosting the chances of Federal Reserve interest rate cuts in 2007.
Consumer sentiment dips going into holidays Reuters - Fri Dec 22, 10:48 AM ET
NEW YORK (Reuters) - U.S. consumer sentiment slipped in December but was not far from the year's highs, a report said on Friday, suggesting Americans were guardedly optimistic about the economy in the holiday season.
Investor optimism dips in Dec from Nov peak Reuters - Fri Dec 22, 8:33 AM ET
NEW YORK (Reuters) - Investor confidence in the U.S. economy fell slightly in December but still remained high, responding to rallying stock markets and the shift from a Republican to a Democratic Congress, according to the UBS/Gallup Index of Investor Optimism released on Friday.
Stock Markets News
Economic growth concerns drag down indexes Reuters - Fri Dec 22, 4:41 PM ET
NEW YORK (Reuters) - U.S. stocks dropped on Friday as concerns about slowing economic growth persisted, causing investors to sell shares of bellwether companies such as plane maker Boeing Co. and leaving all three major indexes in the red for the week.
Wall Street set to close year quietly AP - Sun Dec 24, 9:26 PM ET
NEW YORK - Investors are expected to spend the last week of 2006 getting their portfolios in order, taking advantage of a slow period on Wall Street where volume plunges to its lowest levels of the year.
Wall Street slips in light holiday trade AP - Fri Dec 22, 11:08 PM ET
NEW YORK - Stocks slid Friday after waning enthusiasm among investors ahead of the holiday weekend overshadowed data showing higher consumer spending and a jump in sales of big-ticket goods in November. A weak bond market also weighed on stocks.
Red Hat among big movers on Wall Street AP - Fri Dec 22, 12:39 PM ET
NEW YORK - Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
CORRECTED: Fight over NASD-NYSE regulatory merger escalates Reuters - Fri Dec 22, 10:37 AM ET
NEW YORK (Reuters) - A group of smaller brokerage firms, seeking to block the proposed merger of Wall Street's top self-regulators, said on Thursday it has enough support to derail the deal and charged regulators with trying to steer votes.
Earnings News
Research In Motion 3Q profit rises AP - Sun Dec 24, 8:37 PM ET
NEW YORK - Shares of Research in Motion Ltd. rose nearly 2 percent Friday, a day after the BlackBerry maker said its fiscal third-quarter earnings rose 47 percent and it added 875,000 subscribers for the period.
Krispy Kreme 1Q loss narrows AP - Fri Dec 22, 3:49 PM ET
NEW YORK - Doughnut maker Krispy Kreme Doughnuts Inc. Friday filed its long-delayed quarterly report with regulators and said its loss in the fiscal first-quarter narrowed in the absence of hefty charges.
Krispy Kreme posts loss in delayed report Reuters - Fri Dec 22, 3:45 PM ET
CHICAGO (Reuters) - Krispy Kreme Doughnuts Inc. posted a first-quarter loss on Friday and said revenue fell slightly less than expected in a delayed quarterly report filed with U.S. regulators.
Progress at Last? The Motley Fool - Fri Dec 22, 3:21 PM ET
Is this truly the most wonderful time of the year? For normal people, I'd say the answer is most likely yes. But for that special breed of person we call the investor, there's an even more wonderful, and four times more frequent, time: earnings season.
Walgreen 1Q profit surges 25 percent AP - Fri Dec 22, 1:03 PM ET
CHICAGO - Walgreen Co., the nation's biggest drugstore chain by revenue, reported better-than-expected first-quarter profits Friday as sales surged 17 percent on strong results from prescription drugs.
Personal Finance News
China considers same tax rate for domestic, overseas firms AFP - Sun Dec 24, 12:30 PM ET
BEIJING (AFP) - Chinese lawmakers have mulled a draft law that would impose a 25 percent income tax on both domestic and foreign firms, eliminating the preferential rate for overseas companies, according to state media.
New rules enable healthy savings Reuters - Sat Dec 23, 1:23 PM ET
WASHINGTON (Reuters) - Health Savings Accounts are a great deal, and they are about to get even better. The 109th Congress, in one of its final acts, expanded the tax breaks that are linked to these accounts.
Points for Mortgage Savvy The Motley Fool - Fri Dec 22, 10:10 AM ET
Homebuyers face a million decisions about which mortgage to choose, which house to buy, and which room covered with 1970s wood paneling to redecorate first. Among those questions is the quandary over whether to pay discount points to lower the interest rate on a mortgage.
Rates on 30-year mortgages up slightly AP - Thu Dec 21, 12:40 PM ET
WASHINGTON - Rates on 30-year mortgages, after sinking for a month, crept up for the second week in a row.
Column: Resolve to save more, cut debt AP - Wed Dec 20, 4:51 PM ET
NEW YORK - Resolved: I'm going to save more money, pay down my debt, check my credit report, improve my job prospects and review my life insurance. For those too lazy to come up with their own financial resolutions for the new year, these are the recommendations of consumer experts from around the country.
Industries
Automakers use better dummies in tests AP - Sun Dec 24, 8:37 PM ET
WASHINGTON - When General Motors Corp. engineer Jack Jensen started working with crash test dummies in the 1990s, the data collected from the devices was routed to recorders the size of a phone booth.
Toyota's 2007 vision as top automaker seen by US analysts AFP - Sun Dec 24, 12:40 PM ET
DETROIT (AFP) - Predictions by Toyota Motor Corp. executives the Japanese auto giant will sail past General Motors Corp. to become the world's top automaker hardly surprised analysts and other industry watchers.
NIH researcher sentenced in ethics case AP - Fri Dec 22, 2:27 PM ET
BALTIMORE - A federal researcher was ordered Friday to forfeit $300,000 and perform 400 hours of community service but will not have to pay a fine for failing to disclose lucrative consulting work with pharmaceutical giant Pfizer.
Walgreen 1Q profit surges 25 percent AP - Fri Dec 22, 1:03 PM ET
CHICAGO - Walgreen Co., the nation's biggest drugstore chain by revenue, reported better-than-expected first-quarter profits Friday as sales surged 17 percent on strong results from prescription drugs.
Portugal's Sonaecom sees no reason to raise offer for rival AFP - Sat Dec 23, 10:07 AM ET
LISBON (AFP) - Portuguese telecommunications firm Sonaecom sees no reason to raise its 9.5 euro per share hostile takeover offer for its larger rival Portugal Telecom, the president of the company's parent company Sonae has said.
Opinion
Strong Medicine for Bristol-Myers BusinessWeek Online - Fri Dec 22, 8:08 AM ET
Bristol-Myers Squibb said Dec. 21 that it reached a preliminary agreement to pay $499 million to settle several years of regulatory investigations into its drug pricing, sales and marketing activities.
Revenue Warning Jolts Jabil Shares BusinessWeek Online - Fri Dec 22, 8:08 AM ET
Jabil Circuit shares tumbled on Dec. 21, after the St. Petersburg (Fla.) electronic product manufacturing services company posted preliminary revenue results for the quarter ended Nov. 30 and warned of tougher times ahead.
Bears Bash Bed Bath & Beyond BusinessWeek Online - Fri Dec 22, 8:08 AM ET
Bed Bath & Beyond (NASDAQ:BBBY - News) share prices fell on Dec. 21, after the retailer announced quarterly results and higher expenses.
New rules enable healthy savings Reuters - Sat Dec 23, 1:23 PM ET
WASHINGTON (Reuters) - Health Savings Accounts are a great deal, and they are about to get even better. The 109th Congress, in one of its final acts, expanded the tax breaks that are linked to these accounts.
Mergers expected to spur more stock-buying Reuters - Fri Dec 22, 4:58 PM ET
NEW YORK (Reuters) - Major merger deals, which have been a key catalyst fueling recent stock market gains, are expected to remain in the forefront of investors' minds going into 2007 as the last week of the year closes out with a dearth of data and earnings.
Most Popular Business News
New rules enable healthy savings Reuters - Sat Dec 23, 1:23 PM ET
WASHINGTON (Reuters) - Health Savings Accounts are a great deal, and they are about to get even better. The 109th Congress, in one of its final acts, expanded the tax breaks that are linked to these accounts.
Yale makes MBA students study abroad AP - Sat Dec 23, 7:30 AM ET
NEW HAVEN, Conn. - For one group of graduate business students at Yale, next month's lessons will take place on pineapple, banana and coffee plantations in Costa Rica. Other Master of Business Administration students are checking out investment prospects in Tanzania and what's sizzling in Singapore.
So Cal Ed signs biggest U.S. wind contract Reuters - Thu Dec 21, 9:15 PM ET
LOS ANGELES (Reuters) - Electric utility Southern California Edison and Australian-based Allco Finance Group Ltd. have signed the biggest contract for wind power in U.S. history, the two companies said on Thursday.
Macy's pulls Sean John hooded jackets AP - Fri Dec 22, 6:24 PM ET
NEW YORK - Macy's has pulled from its shelves and its Web site two styles of Sean John hooded jackets, originally advertised as featuring faux fur, after an investigation by the nation's largest animal protection organization concluded that the garments were actually made from a certain species of dog called "raccoon dog."
Hong Kong passes NYC in attracting IPOs AP - Sun Dec 24, 2:12 PM ET
HONG KONG - Hong Kong surged past New York this year and became the world's second most popular place — after London — for companies to float new stock listings.
posted by alexsakne at 11:46 PM
1 Comments:
Animals need their fur more than we do.
The treatment of these animals for a vanity product is disgusting.
See for yourself:
www.furfree.hsus.org
Post a Comment
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