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JCPenney (NYSE: JCP) will cut 900 jobs at its headquarters, which is about 13% of the total. New CEO Ron Johnson, formerly of Apple (NASDAQ: AAPL), claims this will turn the crippled retailer into...
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Spain’s political leaders will present EU budget directors with its plan to comply with new austerity measures. It needs to hurry the process. Spain’s bond yields have risen to unsustainable...
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When the Spanish government revealed its latest budget last month, the general assumption was that Spain was pointed down the right track to revive the country’s economy. After all, €27.3 billion...
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Strikes by union members across Spain represent another major obstacle to the future of austerity in the most financially troubled EU countries. The strikes can be added to the threat that the...
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Greece will have to cut another 5.5% in GDP of government spending or miss the budget targets it has set for a bailout. This is according to a European Commission report that reporters...
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Yahoo! (NASDAQ: YHOO) is in patent talks with Facebook. The portal claims that the social network has used some of its intellectual property without permission or license fees. Yahoo!’s claims are...
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Glencore and Xstrata are in merger talks. (Reuters) A federal mortgage deal with banks over mortgage fraud would give states enforcement power. (Reuters) Sony (NYSE: SNE) expects a $2.9 billion...
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A number of economists believe the U.S. debt burden, budget problems, recession and lack of growth will soon be the same as those now facing many EU nations. This would mean that America has begun to...
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More bad news from Europe. Spain’s Employment Minister Valeriano Gomez told CNBC that a slow economy almost certainly will cause his country to miss growth targets. About the same time he was...
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It is time for our daily review of the alternative energy sector. Tucson Electric Power (TEP) has revealed a plan to lease space on the roofs of public buildings in the city as space to install 11...
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Moody’s may take away Spain’s Aa1 sovereign debt rating. The agency gave its reasons: (1) Spain’s vulnerability to funding stress given its high refinancing needs in 2011. This vulnerability...
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There is a broad expectation that contagion will rise as Ireland is bailed out by EU nations and the IMF. Much like Greece, Ireland could not afford to finance its debt. Fears about default became...
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Moody’s may take away Spain’s Aaa rating this week, according to a media reports. The Anglo Irish bank was downgraded due to concerns about risk. The cost of insurance against the debt of the...
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US unemployment may be close to 10% and the President’s midterm budget review may say that the jobless rate will be above 9% until 2012. Many economists believe the figures are not sustainable if...
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