Finance news

Stocks slid Thursday, although they finished off their session lows, as investors weighed cautious comments from a regional Federal Reserve president about the health of the economy and a mix of quarterly profit reports.
The Dow Jones industrial average (INDU) lost 30 points, or 0.3%, the S&P 500 (SPX) index dipped 4 points or 0.4% […]

Filed under: economics by Finance Boss
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American Express reported a huge jump in quarterly profits Thursday that beat Wall Street estimates, but wary investors drove the stock lower in after-hours trading.
AmEx (AXP, Fortune 500) shares were down 2% in after-hours trading. The financial services company said its net income for the second quarter rose to $1.02 billion, from $337 million […]

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If you’re looking to get in on the China growth train, be prepared to stomach the near-term risk.
The Shanghai Composite is down 22% year-to-date with much of the selloff attributed to worries about China’s economy overheating.
However, last week’s news that China’s economy is still growing super-fast — but just a pinch more slowly […]

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For deep-pocketed plutocrats purchasing trophy homes, times are good. There is a glut of mega-mansions on the market — at deep discounts.
On Realtor.com alone there are currently 6,610 listings of houses with interiors larger than 10,000 square feet.
"Buyers are not used to having this amount of inventory," said Russ Filice, an agent […]

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Cornell’s Restaurant in Schenectady will remain open as the company that owns the restaurant’s real estate reorganizes its debts in U.S. Bankruptcy Court, officials said today.
The real estate holding company, 39-45 North Jay Street Corp., filed for Chapter 11 to protect itself from creditors, including American Tax Funding, which handles tax liens for the city […]

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Biogen Idec has successfully completed phase 1 and 2a safety trials of its new hemophilia B treatment rFIXFc and has begun phase 3 trials.
The Weston, Mass.-based company (NASDAQ: BIIB) has developed the new drug with Swedish company Orphan Biovitrum AB (STO: SOBI).
The treatment has the potential to improve the lives of hemophilia patients by […]

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About 40 executive MBA students from the W.P. Carey School of Business at Arizona State University learned from state lawmakers when they participated in a two-day mock budget exercise at the Arizona Capitol.
Students played the roles of legislators and lobbyists as they tried to pass their own mock budget on the Senate floor.
Gov. Jan Brewer, […]

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3M Co. said Tuesday that it’s acquired Dailys, a British maker of disposable protective clothing used in the workplace.
Dailys, which employs 26 people at its location in Ellesmere Port, England, primarily makes chemical protective coveralls for industrial use.
Financial terms of the deal were not disclosed.
“This acquisition supports our strategic direction by broadening our protective apparel […]

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The experts expected home sales to drop once the homebuyer tax credit lapsed at the end of April, but the depth of the decrease was shocking.
According to the National Association of Realtors (NAR), pending home sales fell a whopping 30% in May. Their index, which measures signed sales contracts but not closed sales, plunged […]

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The Obama administration is backing a plan to nearly double the space available on the airwaves for wireless high-speed Internet traffic to keep up with ever-growing demand for video and other cutting-edge applications on laptops and mobile devices.
President Barack Obama on Monday committed the federal government to freeing up an additional 500 megahertz […]

Filed under: technology by Finance Boss
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