Only reliable financial news

The Canadian dollar roared ahead again yesterday, firing on all cylinders as the greenback retreated, crude oil prices climbed and blue-chip stocks rallied in New York.
By the time the dust settled, the loonie had gained 1.9 cents (U.S.) to 91.60 cents. The currency has risen by 9.5 per cent since April 30, the most since […]

Filed under: management by Forest
Comments Off

House prices are taking a long ride in the wayback machine. Unfortunately, Americans’ housing-related debt isn’t going anywhere fast.
Prices in big U.S. cities posted their biggest-ever decline in the first quarter, according to the most recent S&P/Case-Shiller National Home Price index. After nearly three years of declines, house prices nationwide are back at […]

Filed under: term by Forest
Comments Off

SEATTLE–Microsoft Corp. is rolling out a redesigned search site in the coming days and hopes it will lure more Web surfers than the two most recent incarnations, Live Search and MSN Search.
The new site, Bing, adds touches intended to make everyday Web searching a little less haphazard. Bing also tries to make it […]

Filed under: management by Forest
Comments Off

General Motors has fallen far short of the bondholder support it needed for its proposed debt-for-stock offer, according to a source familiar with the matter, virtually guaranteeing that the nation’s largest automaker will be forced to file for bankruptcy court protection within the week.
The bondholders own $27 billion in corporate notes. GM (GM, Fortune […]

Filed under: technology by Forest
Comments Off

Following a Morgan Stanley plan unveiled last week, Citigroup and Bank of America are likely to soon raise base salaries for investment bankers to compensate for limits on annual bonuses, the Wall Street Journal said, citing people familiar with the matter.
Goldman Sachs Group and JPMorgan Chase & Co are not considering an increase in […]

Filed under: management by Forest
Comments Off

Before the loonie, there were sacred wampum beads. And before that there were muskets, blankets, knives, cloves, chickens and just about anything else doubling as currency in a pinch.
In modern society, bartering connotes some sort of archaic form of monetary exchange, a relic from a day when chickens could be exchanged for a newspaper subscription […]

Filed under: business by Forest
Comments Off

FRANKFURT/BERLIN–Magna International and Fiat have improved their offers for General Motors unit Opel ahead of a crucial week in which the German government is expected to decide which bid it backs.
German Chancellor Angela Merkel will hold a meeting of top minister today to review bids from Aurora-based Magna, Fiat, as well as Belgium-listed […]

Filed under: economics by Forest
Comments Off

All but six states lost jobs in April, and double-digit unemployment persisted in every corner of the country as companies squeezed by the recession slashed payrolls.
For the fifth straight month, California led the nation in net job losses, with 63,700. Among the handful of winners were Arkansas, Montana and Florida — a […]

Filed under: business by Forest
Comments Off

Xerox Chairman and Chief Executive Officer Anne Mulcahy will pass the torch to the current president, Ursula Burns, effective July 1, according to a statement from the company. Mulcahy will remain as the chairman of the board.
Mulcahy has become the stuff of business legend since taking the reigns as CEO in 2001. At […]

Filed under: economics by Forest
Comments Off

Banks that underwent stress tests earlier this month have set out raise $56 billion to plug holes in their books caused by big losses, Treasury Secretary Tim Geithner told a Senate panel on Wednesday.
Geithner was called to Capitol Hill to give a review of the $700 billion Troubled Asset Relief Program, which Congress passed […]

Filed under: online by Forest
Comments Off