Archive for June, 2010
CBO chief: Budget outlook ‘daunting’
Douglas Elmendorf, chief budget cruncher for Congress, got to play the role of bad-news bear before the president’s bipartisan fiscal commission on Wednesday.
Blowout preventers: Drilling’s fail-safe failure
The Gulf oil disaster isn’t the only time a blowout preventer failed to stop an explosion. On June 3, a natural gas well in central Pennsylvania erupted despite the fact that it too was outfitted with a blowout preventer, spewing gas 75 feet into the air for 16 hours before it was brought under control.
Treasury prices slip
Treasury prices fell Wednesday as investor appetite for safe haven assets faded a day after prices surged and the benchmark 10-year note’s yield fell to a 14-month low below 3%.
What Foursquare will do with its $20 million
What does one of the hottest mobile app startups do when it closes a $20 million funding round? Buy chairs.
Dollar down as worries about European banks ease
The dollar slipped versus the euro Wednesday after the European Central Bank said demand for loans was weaker than expected, signaling a brighter outlook for the European banking system.
Oil continues decline
Oil prices continued to slide Wednesday, as investors digested a reading on private sector jobs that missed expectations and awaited a weekly report on crude oil inventories.
AIG villain defends tenure at firm
Joseph Cassano, the man who ran the business at the center of AIG’s collapse, is set to speak unapologetically about his tenure at the firm during a hearing Wednesday, maintaining he led efforts to shield the insurer from fallout.
Private sector jobs gain misses expectations
Private-sector employers added jobs for a fifth straight month in June, a report released Wednesday showed, but the gain was much smaller than expected.
High rates, more fees — credit card traps here to stay
More rules clamping down on abusive credit card practices are on their way.
Detroit’s new factory of dreams
This is a story of two Detroit factories, one a symbol of despair and the other of promise. On the one hand is the old Packard car plant on East Grand — 3.5 million square feet on 38 desolate acres. Broken windows, crumbling bricks, creeping vines, and a FOR SALE sign that’s been hanging there [...]
