Archive for July 8th, 2009

Despite a modest rise in aluminum prices during the second quarter, demand for the metal remains weak and Alcoa reported its third-straight quarterly loss on Wednesday.Demand from China-which helped spur a rally that pushed aluminum prices up by roughly 9% during the quarter-is likely to thin as the country revs up its smelters, adding the… »

The U.S. economy may experience some positive quarters this year, but, contrary to popular belief, that doesn’t mean the recession is about to end. Though some define a recession as two consecutive quarters of negative GDP growth, a quarter or even two of positive growth isn’t enough for economists to declare that one is over.”The… »

When the federal minimum wage rises to 7.25 an hour on July 24, don’t expect California workers to cheer. Their state already sets minimum pay at 8.00. The same goes for hourly employees in Massachusetts, Illinois, Oregon and Washington . In fact, half the states have their own rules setting pay higher than the federal… »

With sales passing three million this year, “edutainment” title ‘Dr. Kawashima’s Brain Training’ entered the record books as the UK’s best selling game in history. But it also illustrates a new age in the way video games are marketed. Move over, couch-blooded killer with a virtual gun because the nonviolent casual gamer wants a seat… »

Adam Opel, the European arm of General Motors, is running out of time and options. Unable to pin down an agreement with three previous bidders, GM confirmed on Wednesday a bid from Chinese firm Beijing Automotive Industries for its European business. Concern at Opel management and among its unions is growing, as a deal has… »

It’s easy to watch financial shows on television and feel like a fool for missing opportunities to pick up “screaming buys,” in “beaten-down markets,” but at a time when home values are in the gutter and people are worried about where their next paycheck will come from its more important than ever to understand what’s… »

In the summer of 2007, private-equity firm Terra Firma bought ailing record label EMI for 4.9 billion, evidently hoping a program of cost-cutting and digital investments would help turn the company around. But Terra Firma ended up writing off nearly half of its investment earlier this year, a sign that even the wizards of private… »

With the real estate market in ruins, a full-blown recession laying waste to corporate spending and oil at less than half its 2008 peak, the solar industry that boomed from 2004 to 2007 has recently seen its fortunes reversed. So makers of photovoltaic power cells and their suppliers had reason to cheer when the House… »

If UBS had hoped for any let-up from the Swiss government that could ease relations with United States tax authorities demanding the details of some 52,000 clients, it will be sorely disappointed.The Swiss Federal Office of Justice rejected the claim by U.S. authorities last week that UBS would not have to expect a criminal proceeding… »