Archive for July 9th, 2009

After reaching the edge of the abyss six months ago, Wall Street has been slowly recovering, thanks in large part to massive help from the federal government. But Main Street continues to face serious challenges, says the Center for American Progress. That bodes badly for the consumers who will ultimately drive corporate earnings.Family wealth in… »

With the sun shining over the U.S.’ key crop-growing regions, the clouds that settled over agricultural futures market earlier in the week lifted Thursday, thanks to hefty export sales.Investors flooded into the agricultural commodities market on Thursday, lifting prices of soybeans, corn and wheat after the U.S. Department of Agriculture reported strong crop exports-particularly for… »

Oil prices have fallen this week as uncertainty regarding global economic recovery turned investors off riskier investments. Although some analysts considered a slump in oil prices as long overdue given sluggish demand against a backdrop of high inventory, no one is ready to discount crude’s long-term growth prospects.Barclays Capital Analyst Costanza Jacazio said poor demand… »

Like a repeat of the craze that led to the dotcom boom and boost, Internet domains names are on the rise. According to domain brokerage Sedo, the average price of buying a domain name now stands at 1,757 pounds , up from 1,282 pounds a year ago.”Prices are still lower than during the boom but… »

The world economy is still in peril. That’s the dire message the most powerful leaders of the Western economies delivered on Thursday at a key Group of Eight summit in Italy as they agreed on a five-point plan to boost economies. “We will take, individually and collectively, the necessary steps to return the global economy… »

Initial jobless claims in the United States fell to their lowest level since January, but don’t get excited. Seasonal distortions related to the auto industry skewed the reading, making things look better than they actually are.On Thursday the Labor Department reported first-time claims for unemployment benefits last week fell by 52,000 to 565,000, well below… »

Primark wants to conquer Europe. The cheap-and-chic British retailer is coming to new European cities with the next store opening in Belgium as it looks to cash in on shoppers trading down during the economic slump.On Thursday Primark, owned by Associated British Foods, posted a 21% increase in third-quarter sales, following an 18% rise in… »

Bringing together British Airways and Iberia was never going to be easy, but a year after the two airlines announced plans to merge, they have little to show for it. Now it looks like new Iberia chairman Antonio Vazquez-whose appointment was announced on Thursday, five months earlier than expected-will be the new focus of merger… »

Stocks eased into midday as Wall Street’s fixation on commodity prices dampened Thursday’s upbeat start.By midday trading the Dow Jones industrial average rose 2.80 points to 8,181.21, while the Nasdaq composite index gained 0.6%, or 9.72 points, to 1,756.89. The S&P 500 meanwhile increased 0.4%, or 3.66 points, to 883.22.Art Hogan, chief market analyst at… »

Anjool Malde, a 24-year-old equity sales trader at Deutsche Bank jumped to his death from the eighth floor of a restaurant popular with London’s banking community over the weekend. He had reportedly complained of the pressures of his job in the past year and had been asked to leave work early on Friday for unknown… »