Daily News Channel
From his earliest days as Treasury Secretary, Tim Geithner’s biggest challenge has been restoring confidence in America’s fragile banks without taking the politically costly step of asking Congress for more money. To judge by the results of the government-run stress tests released Thursday afternoon, Geithner has somehow pulled it off — at least for now. Not that three months of supervisory scrutiny of the country’s top 19 banks hasn’t produced some grim news.
If you want to stare deep into the crater of the world economy, look at the largest public company listings over the past year. By May 2008, a U.S
The recession has been good to McDonald’s. As consumers trade down to cheaper, faster food on the go, McDonald’s has kept up its growth during the downturn. Same-store sales rose 4.3% for the quarter that ended March 29
These days, Republicans have the desperate aura of an endangered species. They lost Congress, then the White House; more recently, they lost a slam-dunk House election in a conservative New York district, then Senator Arlen Specter. Polls suggest that only one-fourth of the electorate considers itself Republican, that independents are trending Democratic and that as few as five states have solid Republican pluralities.
On May 4, 2007, a monster tornado tore through this rural town, killing 11 people and leaving little more than empty slabs and stacks of debris. Greensburg, 109 miles west of Wichita in south-central Kansas, faced the daunting task of rebuilding from scratch. Like most residents, Greensburg City Administrator Steve Hewitt lost his home and everything he owned
Judging by the hysterical reaction in some quarters, to President Obama’s handshake with Venezuelan President Hugo Chavez, or his bow to Saudi Arabia’s King Abdullah, you would think that America’s national security rested solely on body language not sound policy. But just for the record, let’s not forget that President George W. Bush kissed and held hands with the same Abdullah after 9/11, while also looking deep into the soul of Vladimir Putin.
When CEOs and professional investors in developed economies go to bed these days, some may pray for protection from markets in turmoil, share prices in the cellar and angry financial gods bringing fire and brimstone with every check of their Bloomberg terminal or the front pages of The Wall Street Journal. “Spend, China,” they whisper.
Police are looking for a University of Georgia professor in the shooting deaths of three people on Saturday, authorities tell CNN. Sonny Wilson, Athens-Clarke County coroner, confirmed three people were dead, but couldn’t provide identities. UGA is in Athens, but university spokesman Pete Konenkamp said the shootings did not happen on campus.
MySpace CEO Chris DeWolfe will step down as head of the Internet company he helped found about six years ago, MySpace owner News Corporation announced Wednesday. DeWolfe will be a strategic adviser to the company and will continue to serve on the board of MySpace China, according to the statement.
Internet search company Yahoo Inc. announced Tuesday that it would slash 5 percent of its workforce, as it reported a first-quarter profit that fell sharply from a year earlier but still managed to beat Wall Street’s forecasts. Shares of Yahoo (YHOO, Fortune 500) rose more than 5 percent after hours.