The Gulf of Mexico disaster might end up costing more than BP expected with new claims more than doubling the $42.2 billion set aside to deal with the matter. While British Petroleum is already taking a hit with profits having been reduced to nearly half in 2012 as it paid penalties for the disaster by […]
Standard & Poor’s Ratings Services or the S&P was sued by US authorities recently in connection to the ratings assigned to mortgage-backed bonds. The US Justice Department filed the civil charges in an LA federal court on Monday, which is the first time the credit ratings agency is being pursued by US authorities in connection […]
With consumer confidence pretty low, the Dow still hit a five-year high after Pfizer showed fantastic earnings. The Dow Jones Industrial Average did quite well gaining 0.6 percent to 13959 this afternoon, closing on the highest level since October 2007. The Standard & Poor’s 500 index rose too, by eight points, or 0.5 percent this […]
Minor fluctuations were noted in major US stock futures prior to the opening of the market. Dow Jones International Average Index stock future went down by 0.01 percent at 13,830 while the S&P 500 index stock futures remained unchanged at 1,497. On the other hand, stock futures of the Nasdaq-100 increased by 0.01 percent at […]
The German ZEW survey exceeded expectations and was partly to blame for the increase the euro had against the dollar this Tuesday. The euro wasn’t the only currency that was strong as the yen was also rated high against the dollar after the measures the Bank of Japan took to decrease the yen didn’t deliver as expected. The […]
The adjusted profit for the fourth quarter of Verizon Communications (NYSE: VZ) went down even as the company attracted numerous wireless subscribers due to discounts given to smartphones. Verizon Communications revealed that earnings for the fourth quarter went down from $0.38 from the $0.52 in the same period a year ago. The profit was lower […]
The U.S. government may face a new downgrade if they don’t manage to raise the debt ceiling. The rating agency Fitch has said that it is “very likely” that the U.S. would lose its AAAcredit rating if they fail to raise the debt ceiling in time. Fitch Ratings, also said that the debt ceiling should […]
Ben Bernanke, the chairman of the Federal Reserve stressed the importance of increasing the borrowing limit of the nation as Republican lawmakers are considering maintaining the debt ceiling. According to Ben Bernanke, increasing the debt limit will allow the country to pay current bills. The statement reiterated the statement of President Barack Obama against the […]
With Apple losing ground in the smartphone supremacy race, their whole strategy might change as a new, cheaper iPhone is in the works. With a cheaper iPhone being something that was talked about for years, the cheaper iPhone could become a reality by the end of 2013. The trick to making the iPhone cheaper would […]
A settlement worth $10.3 billion was reached between the Bank of America and Fannie Mae. The agreement took care of doubtful home loans that were bought by the mortgage financier. The deal will make it necessary for Bank of America to make a cash payment of $3.55 billion to Fannie Mae. Around 30,000 doubtful mortgages, […]
PayPal Withdrawing Support For Kindle Fire, BlackBerry And Windows Phone
Revival Of Nashville Discussed
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VR Tour Offered Three Decades After Chernobyl Disaster
Kyle Busch Sweeps NASCAR Events At Martinsville
Halle Berry Enters The Social Media World
