Category: Economy

Fiscal Cliff Update: Obama Smartly Shortens Vacation To Resume Talks

Fiscal Cliff Update: Obama Smartly Shortens Vacation To Resume Talks

President Obama will soon renew work on a fiscal cliff resolution, cutting short the first family’s trip to Hawaii, commander in chief’s birthplace. The president may leave as early as this morning. Congress, meanwhile, is...

Stocks tumble as fiscal cliff deadline nears

Stocks tumble as fiscal cliff deadline nears

U.S. stocks sank Monday as investors remain concerned that officials in Washington will fail to resolve a looming fiscal crisis. The Dow Jones industrial average fell 0.4%. The S&P 500 and the Nasdaq both...

Tax hikes for the rich? Blame George W. Bush

Tax hikes for the rich? Blame George W. Bush

What seems brilliant today can come back to bite you in the butt tomorrow when the world changes. That’s my major takeaway from the fiscal cliff soap opera. It’s a lesson that Republican tax-cutting...

Diesel Jeans Mogul Renzo Rosso Joins Ranks Of Forbes Billionaires

Diesel Jeans Mogul Renzo Rosso Joins Ranks Of Forbes Billionaires

      Blue jeans may be an American invention, but 57-year-old Italian entrepreneur Renzo Rosso has built a global empire by turning jeans into high-end fashion.  In turn, he’s earned a spot on...

Americans Replace Student Loan Bills With Tax Bills

Americans Replace Student Loan Bills With Tax Bills

  Wipe our Debt (Photo credit: Images_of_Money) Americans now owe an astonishing $956 billion in student loan debt. The rate of student loan debt outpaced inflation last year – and keeps climbing. I should...

Americans Seeking Unemployment Aid Rises by 17,000

Americans Seeking Unemployment Aid Rises by 17,000

The number of Americans applying for unemployment benefits rose last week by 17,000, reversing four weeks of declines. But the number of people seeking aid is consistent with a job market that continues to...

Merck Niacin Drug Failure Could Have Broad Repercussions

Merck Niacin Drug Failure Could Have Broad Repercussions

    Merck’s niacin-containing  cholesterol drug, sold under the brand name Tredaptive in Europe but still considered experimental here in the U.S., failed to prevent heart attacks, strokes, and heart procedures in a large...

Billionaire Leon Black’s Big 2012 Private Equity Stock Comeback

Billionaire Leon Black’s Big 2012 Private Equity Stock Comeback

    In March 2009, Leon Black’s Apollo Global Management conducted its long-awaited initial public offering. The IPO priced at $19 a share, raising $565 million, and the stock promptly sunk. It dropped on...

IntercontinentalExchange Finally Wins NYSE Euronext For $8.2 Billion

IntercontinentalExchange Finally Wins NYSE Euronext For $8.2 Billion

      IntercontinentalExchange, a collection of over-the-counter and options markets, will buy NYSE Euronext for $8.2 billion in a cash-and-stock deal. ICE will pay $33.12 a share, a 37% premium over yesterday’s closing...

Meet The Madoff Victims That Profited From Their Investment

Meet The Madoff Victims That Profited From Their Investment

  It could be likened to the legal version of winning the lottery – a group of investors in Bernard Madoff’s $65 billion Ponzi scheme, once on the brink of having their $141 million...