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Dollar Bond Sales Stall in Asia as Costs Soar on Debt Crisis - Bloomberg

May 22, 2012

Asian companies and sovereigns sold no dollar-denominated bonds last week for the first time since January after yields surged on the deepening debt crisis in Europe and slowing industrial output in China.
China Petrochemical Corp., the refiner known as Sinopec Group, sold the last securities in the U.S. currency on May 10, before the slowest […]

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When social media gets you fired

May 20, 2012

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Coty says it is withdrawing offer to buy Avon

May 15, 2012

Coty Inc. says it is withdrawing its $10.7 billion offer to buy Avon.
Coty announced its decision in a letter to Avon’s board a day after Avon said it would consider the offer. The letter was made public late Monday.
Avon’s response Sunday came two months after Coty made its original offer and Avon executives asked for […]

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Consumer Sentiment in U.S. Climbs to Four-Year High: Economy - Bloomberg

May 13, 2012

Consumer confidence rose in May to the highest level in four years, led by gains among upper-income Americans that may contribute to a pickup in spending on expensive items like furniture and appliances.
The Thomson Reuters/University of Michigan preliminary sentiment index for May climbed to 77.8, the highest since January 2008, from 76.4 the prior […]

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Romanian govt falls in no-confidence vote

April 28, 2012

Romania’s government fell Friday in a no-confidence vote, as opposition parties seized on widespread public anger over biting austerity measures, cronyism and corruption.
Some 235 lawmakers voted against the government of Prime Minister Mihai Razvan Ungureanu, four more votes than needed.
Opposition leader Victor Ponta said the vote represented the end “of an abusive system that uses […]

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Costa Concordia to be salvaged in 1 piece

April 22, 2012

Salvage work to remove the capsized Costa Concordia cruise ship from its rocky perch off Tuscany, where 32 people died, will begin early next month and is expected to take a year, the Italian owner announced Saturday.
The U.S.-owned company Titan Salvage won the bid to remove the ship, which struck a reef off the tourist-dependent […]

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Summary Box: Whole Foods sets up shop in Detroit

April 13, 2012

THE STORE: Organic grocer Whole Foods is taking a gamble on the Motor City with a planned 20,000-square-foot supermarket with 75 employees in Detroit’s Midtown neighborhood next year.
THE NEIGHBORHOOD: One reason Whole Foods may be willing to take the risk is that the neighborhood is an anomaly in a tough city enduring tough times: People […]

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Apple, publishers sued by U.S. over allegations of e-book price fixing

April 12, 2012

The U.S. Department of Justice has filed suit against technology giant Apple and several publishing firms, claiming they colluded to fix the price of e-books.
The suit, filed in federal court in New York, says Apple colluded with publishers including HarperCollins, Simon & Schuster and MacMillan to fix the price of e-books. The government said it […]

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US stocks turn mixed, erasing early losses

April 6, 2012

Stocks were mixed in midday trading, closing out a tumultuous week in which the Dow Jones industrial average had its biggest plunge in a month.
The Dow was down 3 points at 13,071 at midday Thursday. The Standard & Poor’s 500 index was up less than a point at 1,399. The Nasdaq composite rose 10 points […]

economics, online - Comments closed

Should you tip the CAA driver?

April 1, 2012

Dear Jeanne & Leonard:
When I had a flat tire recently, I called AAA. It sent a tow truck right out, and I soon had my spare on. I didn

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