April, 2009
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On Both Sides of the Atlantic, Increased Confidence in Home Building, Home Buying and Lending Between Banks - April 15, 2009 06:00 PM
Positive financial and business headlines today include an uptick in U.S. homebuilders’ and U.K. surveyors’ numbers; there’s also cheaper money to be lent between banks, which means more consumer access to funds.
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Underground Economy Leaves Tax Collectors Empty Handed - April 15, 2009 03:00 PM
The gray, or underground, economy is flourishing amid the recession as underemployed workers seek one-off jobs free of taxes.
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More Companies Helping Consumers Who Lose Jobs - April 15, 2009 01:57 PM
Carmakers started the trend, but many other companies are offering plans to help people who have lost their jobs hang on to their possessions.
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Rescued Banks Not Passing the Bailout to Customers - April 15, 2009 09:00 AM
Banks that accepted bailout money have hiked fees on credit cards, loans and other items. What can customers do to protect themselves?
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Bernanke and Obama See Signs of Reviving Economy, Cancer Vaccine Developers’ Stock is Up - April 14, 2009 05:15 PM
In separate speeches, President Obama and Federal Reserve Chief Ben Bernanke point to indications of economic turnaround; good news about Dendreon’s cancer vaccine helped to pull up other pharmaceutical stocks.
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Google Supports User Privacy, Disables Comments and Uploads for YouTube Korea - April 14, 2009 03:00 PM
In order to avoid disclosure of uploaders' identities, Google has opted to disable user contributions on its Korean video-sharing portal.
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JPMorgan Chase Shareholder Letter Burnishes Dimon’s Sparkle - April 14, 2009 02:00 PM
Some financial pundits are dubbing JPMorgan Chase CEO Jamie Dimon “the next Warren Buffett” for his witty prose and acuity in assessing the financial crisis.
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Chin Up in the Downswing: Ethics Pay Off; Education Sector IPOs Look Promising - April 13, 2009 05:15 PM
The Neuberger Berman Socially Responsive Fund is showing a strong cash flow, 99 companies get plaudits for ethical business practices and two education IPOs are set to launch this week.
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Chin Up in the Downswing: Wall Street Up for 5th Week in a Row: Obama, Economists See “Glimmers of Hope” - April 10, 2009 05:30 PM
Some upbeat business stories on April 10, 2009: Stocks were up for the fifth consecutive week; President Obama sees positive signs in the nation’s economy, as do economists, who project the recovery to begin in September.
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Bossnapped! French Employees Try Kidnapping to Delay Layoffs - April 10, 2009 11:30 AM
Protesting French workers once again man the barricades—by locking their bosses behind them.
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Fox’s New Layoff Show: Brilliant or Brutal? - April 10, 2009 10:30 AM
Fox’s new reality TV show, “Someone’s Gotta Go,” might be too much too soon for viewers coping with anxiety about the recession.
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Chin Up in the Downswing: Wells Fargo Forecasts $3 Billion Q1 Profit; U.S. Revolving Debt, New Jobless Claims and Trade Deficit All Decrease - April 09, 2009 05:15 PM
Among today’s positive business and financial stories: bank Wells Fargo forecasts $3 billion in profits for Q1 2009, the Fed reports that Americans are cutting down on their revolving debt, new unemployment claims were down last week and the trade deficit narrowed to November 1999 levels.
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N.J. Company Urged to Recall Peanuts - April 09, 2009 12:29 PM
The FDA has served a warrant to a New Jersey firm that refused to recall products associated with a salmonella outbreak or let the agency see pertinent records.
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In Legal Documents, Coldplay Says Satriani Song "Lacks Originality" - April 09, 2009 12:01 PM
British band Coldplay continues to deny allegations from Joe Satriani that they plagiarized his 2004 instrumental song "If I Could Fly.”
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Chin Up in the Downswing: Casual Dining and Housewares Doing Well; Recession Opportunities for MSF Grads, What’s Good About Scary Headlines - April 08, 2009 05:15 PM
Among today’s positive news headlines: Bed, Bath & Beyond and Ruby Tuesday shares boosted by better-than-expected numbers, financial master’s grads stand to benefit from current economic conditions and a financial company CEO points out the good news inherent in negative headlines.
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Recession Forces Baseball to Become More Fan-Friendly - April 08, 2009 04:00 PM
With ticket sales slow due the recession, many teams are cutting prices and offering large discounts to attract fans.
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Fox News Pounces on “Wolverine” Reviewer - April 08, 2009 10:30 AM
Fox News fired blogger Roger Friedman after he wrote a review of a pirated version of the new “Wolverine” movie, produced by sister company 20th Century Fox.
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Chin Up in the Downswing: Consumers More Confident, New York Fashion Keeps on Trend, AmEx Gets Upgraded - April 07, 2009 05:15 PM
Among today’s positive financial news headlines: one index shows a rise in consumer confidence; New York’s Madison Avenue gains new retail life; and AmEx’s stock gets upgraded from “sell” to “hold.”
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Senator Chuck Schumer Wants to Rein In Ticket Resellers - April 07, 2009 04:30 PM
N.Y. Sen. Chuck Schumer introduces legislation to give fans first crack at buying face value seats before brokers snatch them up.
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More Companies Going Green to See Green - April 07, 2009 09:04 AM
Buying environmentally-conscious businesses is just one way large companies are trying to project a greener image and capture a new market.
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Chin Up in the Downswing: Sallie Mae to Create 2,000 U.S. Jobs, Hiring Departments See Opportunity in Recession; Insurance CEO Spreads the Wealth to Employees - April 06, 2009 05:15 PM
Among today’s uplifting business and financial headlines: Sallie Mae plans to establish 2,000 new jobs across America; hiring departments are looking to hire talented applicants in advance of demand and a New Jersey insurance CEO pays each of his 400-plus employees $1,000.
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Lenders Cut Credit for On-Time Payers - April 06, 2009 02:59 PM
Credit card customers with good credit and low balances are seeing their credit limits cut because they pay less in card maintenance fees.
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Supreme Court Ends Phillip Morris Bid to Avoid Punitive Damages - April 03, 2009 12:00 PM
In its third appearance before the Supreme Court, the case of Phillip Morris v. Mayola Williams was dismissed, ending years of litigation.
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Chin Up in the Downswing: Parallels to Great Depression Called Overblown, Topshop Opening Shows Retail Vitality, Chinese Manufacturing Rebounding - April 02, 2009 05:15 PM
The numbers indicate that this recession is nowhere nearly as dire as the 1930s, argues a Federal Reserve researcher. Topshop’s U.S. opening shows people are still excited about buying clothes and China’s manufacturing output is up for the first time in six months.
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Talking to Kids about the Recession - April 02, 2009 01:57 PM
Maybe your three-year-old is wondering why Mommy or Daddy is home so much now. Or your recently tightened budget has forced you to ask your fourth grader to decide between summer camp and picking up a new musical instrument. Here are some ideas on how to put the recession in terms children can understand and in the process, make the whole family feel empowered.
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Senate Banking Committee Greenlights Credit Card Reform - April 02, 2009 12:38 PM
By a one-vote margin, the Senate Banking Committee approved legislation that would curb some fee and interest hikes by credit card companies, and simplify gift card use.
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Chin Up in the Downswing: Financial Stocks Push Wall Street Rally; Geithner Says Market Recovery Has Begun; Future Bright for Solar Energy - April 01, 2009 06:30 PM
Rebounds on the financial markets, both today and over the past month, capture the spotlight today. Also, a solar company shows strong numbers, suggesting opportunities in green energy.
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America’s Energy Companies Gain Advantage with Dropping Oil Prices - April 01, 2009 01:00 PM
Declining oil prices around the world have given Western oil companies more leeway in negotiating with countries whose economies rely heavily on liquid gold.
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Phone Books Outnumber People: Can We Escape Them? - April 01, 2009 09:00 AM
Despite concerns that they are a waste of paper, the phone book industry keeps providing them, year after year—and they outnumber the people who use them.
March, 2009
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Chin Up in the Downswing: Dow Ends March, Q1 2009 Like a Lamb; U.S. Consumer Confidence Nudges Up; Armani Stays on Top of Trends - March 31, 2009 06:04 PM
Traders and consumers ended March on a positive note, with the Dow showing a sharp uptick to close out the quarter and the Consumer Confidence Index up slightly. And, in a testament to the resiliency of retail, fashion house Armani is still flourishing.