December 24th, 2009
Yacht exporters are riding a weaker dollar and reduced prices to new markets, while domestic sellers are seeing signs that the market’s doldrums are coming to an end.
Yacht exports to Northern Europe were healthy before the recession since the dollar was still weaker than the Euro. But the international financial tidal wave left fewer buyers, […]
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December 17th, 2009
Customers snapping up electronics and gift cards for the holidays boosted Best Buy’s third-quarter profit, but the nation’s largest electronics retailer said Tuesday that shoppers are focused on prices, particularly of TVs and computers.
Best Buy predicted consumers will stay that way in the fourth quarter, squeezing its profit margin. That forecast sent […]
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November 27th, 2009
NEW YORK — Charter Communications Inc.’s lenders, led by JPMorgan Chase & Co., lost a bid Wednesday to block the cable communications company from leaving bankruptcy.
U.S. District Judge Sidney Stein affirmed Bankruptcy Judge James Peck’s Nov. 23 decision to deny the lenders’ request for a stay while they appeal his confirmation of Charter’s […]
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November 23rd, 2009
A year ago, as Britain’s property market began to collapse, housebuilder Persimmon Plc owed 960 million pounds ($1.6 billion). Today, Chief Financial Officer Michael Killoran has slashed that debt by 58 percent.
“It’s safety first,” he said. “With the uncertainty in the markets currently, companies want to be carrying a lower level of gearing.” […]
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September 29th, 2009
Iceland can’t afford to wait any longer for its International Monetary Fund review and the transfer of the second tranche of its IMF-led bailout loan, Prime Minister Johanna Sigurdardottir said.
“The review of Iceland’s program has been delayed for way too long,” Sigurdardottir said in an interview in the township of Gardabaer in Iceland […]
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September 23rd, 2009
The Obama administration expects Congress will act this year to strengthen financial regulation and rein in executive pay, the Treasury Department’s liaison to Capitol Hill said.
Kim Wallace, assistant secretary for legislative affairs, said he expects lawmakers will agree on a financial regulation plan by the end of 2009. The administration wants better oversight […]
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September 14th, 2009
Hungary’s falling inflation rate makes the case for a third consecutive interest-rate cut this month as the central bank seeks to jolt the economy out of a recession, economists said.
The bank will lower the benchmark two-week deposit rate by at least half a percentage point to 7.5 percent on Sept. 28, according to […]
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September 12th, 2009
The U.S. economy will pull out of the recession at a faster pace than previously forecast, before slowing as the end of the government’s auto-rebate program weighs on consumer spending, a survey of economists showed.
The economy will expand at a 2.9 percent annual rate in July through September, according to the median of […]
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September 7th, 2009
It was never Christmas, Thanksgiving, the Fourth of July or even Halloween.
Be that as it may, the nation’s working men and women once got their due on the first Monday in September with well-attended parades and testimonials celebrating the strength of the middle class.
Today, labor leaders acknowledge, Labor Day is little more […]
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August 11th, 2009
French industrial production, led by car production, rose more than expected in June, adding to signs of recovery in Europe’s second-largest economy.
Output at factories and utilities climbed 0.3 percent from May, when it rose a revised 2.8 percent, Paris-based statistics office Insee said today. Economists had forecast that production would rise 0.2, according […]
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