March 13th, 2010
Latvian elections this autumn threaten to hamper government efforts to push through austerity measures vital to its international bailout, burdening the country’s credit rating, Fitch Ratings said.
A parliamentary election scheduled for October “weighs on the rating, the uncertainty that comes with the election, and I think there might be resistance to removing the […]
Filed under: legal by Finance Boss
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March 8th, 2010
Icelanders rejected by a massive majority a bill that would saddle each citizen with $16,400 of debt in protest at U.K. and Dutch demands that they cover losses triggered by the failure of a private bank.
Ninety-three percent voted against the so-called Icesave bill, according to preliminary results on national broadcaster RUV. Final results […]
Filed under: term by Finance Boss
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February 28th, 2010
Despite lower revenue due to sharply lower commodity prices and power generation nationwide, Calpine Corp. on Thursday said it had reduced its losses in the fourth quarter of 2009 compared to the year-earlier period.
Houston-based Calpine (NYSE: CPN) reported a net loss of $43 million, or 9 cents a share, for the three months ended Dec. […]
Filed under: finance by Finance Boss
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February 23rd, 2010
President Obama issued an executive order on Thursday that formally creates a bipartisan fiscal commission, a first step to forcing painful decisions needed to get the U.S. debt load under control.
Raising taxes, cutting spending and reforming Medicare and Social Security are all fair game, and thought to be impossible without the backing of both […]
Filed under: management by Finance Boss
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February 4th, 2010
The losses continued for Great Florida Bank in the fourth quarter, but it succeeded in paring down its problem loans.
The Miami Lakes-based bank (NASDAQ: GFLB) suffered a net loss of $15.9 million in the fourth quarter, following a $13.3 million loss in the third quarter, according to its filing with the Federal Financial Institutions Examination […]
Filed under: business by Finance Boss
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January 28th, 2010
LOS ANGELES—Both U.S. and Canadian governments have imposed major conditions upon Live Nation and Ticketmaster in approving the companies’ merger.
Shares in both companies jumped in trading Monday after reports surfaced earlier that the merger would be approved.
Included in the settlement is a requirement that Ticketmaster would have to license its ticketing software to competitor AEG […]
Filed under: economics by Finance Boss
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January 11th, 2010
The U.S. auto industry has been decimated in recent years by a rash of plant closings. But according to a survey of top industry executives, more shutdowns could be on the way.
The survey, conducted annually by accounting firm KPMG, found that 88% of top industry executives thought there is still too much capacity at […]
Filed under: technology by Finance Boss
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December 27th, 2009
After months of relative silence, sovereign wealth funds, the huge, state-owned vehicles that export-rich countries use to invest their reserves, are on the prowl again.
"[Funds] are researching deals and trying to get things lined up," says R.P. Eddy, CEO of Ergo, a research firm that advises some of the world’s biggest sovereign wealth […]
Filed under: finance by Finance Boss
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December 1st, 2009
Glitzy Dubai may face a debt crisis that has sent a shudder through global markets, but you wouldn’t know it from officials or local media.
World leaders have commented on the crisis — but not those in the United Arab Emirates itself, where authorities have said little as UAE markets fell and the central bank […]
Filed under: legal by Finance Boss
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November 24th, 2009
General Motors Co. on Monday asked European governments to help pay most of the $4.9 billion it needs to restructure its struggling European operations.
At talks in Brussels on Monday, EU nations where GM has plants vowed to avoid individual negotiations with the company before a Dec. 4 meeting, when they will coordinate […]
Filed under: money by Finance Boss
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