2008 trade business

Greenspan Sees Recession Risk
The BBC reports that former Fed chairman Alan Greenspan - who blasted Bush in his book - has warned that US economic growth has stalled and a quick recovery is not likely.As of right now US economic growth is at zero, he said, adding the longer it stayed this way the greater the risk of a deep recession.Wall Street giants Goldman Sachs and Merrill Lynch have both forecast that the US economy will contract in 2008.The US Federal Reserve has said 2008 growth will be between 1.3% and 2%.The forecast, made last week, was half a percent lower than the Feds previous estimation.The gloomy outlook was blamed on falling house prices, reduced bank lending, turmoil in the financial markets and higher oil prices.If the gloomy outlook isnt enough Greenspan also thinks oil will keep rising and that the housing mark will provide more concern before it gets better.Mr Greenspan also predicted that booming oil prices, which reached a record of more than $101 last week would keep rising and that the US housing market would see more misery before the tide turned.Greenspan isnt alone. Just yesterday there were reports that more analysts have jumped on the recession is likely bandwagon. If we do dip into an actual recession how long will we stay there? Thats the next question that needs answering.Permalink | Recent Headlines | WWFeeds.com

Stocks & Bonds A Middling Week, but a Good One for 2008 - New York Times
Nightly Business ReportStocks & Bonds A Middling Week, but a Good One for 2008New York Times - 19 hours agoBy JEFF SOMMER It was a so-so week for the stock market. The broad market declined modestly, but the Nasdaq composite index, which is heavily laden with technology stocks, managed a slight gain.Stocks end the week down Los Angeles TimesTHE WEEK IN STOCKS: Adding to a bad quarterly performance NewsdayInternational Herald Tribune - The Associated Press - Inside Futuresall 632 news articles

EA extends deadline for Take-Two offer - BusinessWeek
The Money TimesEA extends deadline for Take-Two offerBusinessWeek - Mar 28, 2008By BARBARA ORTUTAY Electronic Arts is not backing down from its $2 billion hostile bid for the publisher of Grand Theft Auto even as Take-Two Interactive does what it can to buy more time.Electronic Arts to Take-Two: Game Over ForbesEA extends offer for Take-Two but wants 'poison pill' removed Bizjournals.comSan Francisco Chronicle - Variety - Red Herring - E-Commerce Timesall 116 news articles

Gold Passes $1,000 Mark
Gold traded at a record $1,000 an ounce for the first time today. The news coincides will the recession concerns, the weak dollar and the high price of oil. The BBC reports that since the beginning of 2008 gold has jump 20%. Gold also climbed 32% last year.Since the beginning of the year the value of gold has increased by about 20%, after it rose 32% in 2007.Gold eventually settled for the day at $993.80, up $13.30 an ounce.Analysts say gold will stay high as long as dollar and growth fears remain.Every bit of bad US economic data boosts gold in two ways, said Fortis Bank.First because it reinforces the return of its role as a safe-haven asset, and second because the dollar falls on expectations of further Federal Reserve rate cuts.The price of gold story made all the major newspapers and wire services: Reuters, Guardian, The Independent, Forbes, National Post, USA Today, Financial Times, Wall Street Journal, Telegraph.co.uk, Bloomberg and New York Times to name a few.A 52% climb in just twelve months might mean gold has climbed too quickly notes USA Today columnist John Waggoner here.If youre hankering to buy gold, you may get a chance to buy it more cheaply in the next month or so. Gold bullion has soared 52% over the past 12 months and 19% this year ? and it may have gotten ahead of itself. But if you want to invest for the long run in gold ? which can have a role in a diversified portfolio ? you have three good options: gold bullion coins, gold exchange-traded funds and gold mutual funds.Then again, Waggoners column also mentions that James DiGeorgia - editor of the Gold and Energy Advisor website - says gold could climb to $2,500 an ounce.Permalink | Recent Headlines | WWFeeds.com

Economy Growing Very Slowly
The GDP grew 2.2% in 2007 and slow 0.6% in the fourth quarter of 2007. Raw Story says economists were expecting 1.2% growth in Q4.For all of 2007, the economy grew by just 2.2 percent, the weakest performance in five years, when the country was struggling to recover from the 2001 recession. The housing collapse dealt the economy its biggest blow last year. Builders slashed spending on housing projects by 16.9 percent on an annualized basis, the most in 25 years.The economy has been subject to something of the perfect storm here. It has been hit by the housing slump the credit squeeze, the subprime slime and stock price declines on Wall Street, said economist Ken Mayland, president of ClearView Economics. The economy is weathering some pretty stormy seas but it is weak.The fourth-quarters performance was much weaker -- half the pace -- than economists were expecting. They were forecasting growth to clock in a 1.2 percent pace.The 0.6 percent annualized increase in gross domestic product GDP marked a big loss of momentum from the third quarters brisk, 4.9 percent showing. The fourth-quarter pace was the slowest since the first quarter of last year.IDEAglobals chief U.S. economist calls it stall speed according to MarketWatch.com. The GDP hit stall speed, wrote Joseph Brusuelas, chief U.S. economist at IDEAglobal.GDP hadnt been any slower since the end of 2002, when the economy was struggling to recover from the recession a year earlier.The 1st quarter 2008 GDP is going to be interested. Will the economy tread along, pick up speed or start to step into a recession?Permalink | Recent Headlines | WWFeeds.com

CARB cuts zero emission vehicle requirement - Bizjournals.com
PhysOrg.comCARB cuts zero emission vehicle requirementBizjournals.com - Mar 28, 2008The California Air Resources Board voted unanimously Thursday to slash its previous requirement for auto makers to produce 25000 zero emission vehicles between 2012 and 2014 down to 7500 vehicles.California Lowers Auto Emissions Rule The Associated PressAir board trims mandate for zero-emission cars San Jose Mercury NewsDetroit Free Press - Los Angeles Times - United Press International - Telegraph.co.ukall 603 news articles

Is Google Over? - Motley Fool
Sioux City JournalIs Google Over?Motley Fool - Mar 28, 2008By Rick Aristotle Munarriz March 28, 2008 Shares of Google Nasdaq: GOOG fell yesterday on the heels of another comScore report that shows weakness in the number of clicks that Google ads are receiving.Report Shows Decline In Google Paid-Search-Ad Clicks In US CNNMoney.comGoogle's Ad-Click Data Disappoint Wall Street JournalBloomberg - Forbes - Detroit Free Press - InternetRetailer.comall 387 news articles

Christmas Price Index Climbs in 2007
Prices are soaring and it will be more expensive to buy your True Love the Twelve Days of Christmas this year. The PNC Christmas Price Index says the significantly higher price of gold and increased compensation for minimum wage workers will make Christmas more expensiv. The PNC Christmas Price Index is a tongue-in-cheek economic analysis by PNC Wealth Management based on the cost of gifts in The Twelve Days of Christmas.According to the 23rd annual survey, the cost of The Twelve Days of Christmas is $19,507 in 2007, a 3.1 percent increase over last year. The rise in gift prices mirrored the U.S. governments Consumer Price Index. The Consumer Price Index is up 3.5 percent so far this year.Each year, the Christmas Price Index reflects trends in the broader economy, said James Dunigan, managing executive of investments for PNC Wealth Management. This year, increased commodities prices, concerns about the value of the dollar and the first minimum wage increase in 10 years were major factors in the increases to the Christmas Price Index.For example, True Loves are paying more this year for the five Gold rings. You can see an explanation of this below. There is also a video on the PNCs website.True Loves will have to pay a bit more for the five Gold Rings this year, as the jewelers who provide the prices for the rings report having no choice but to pass increased prices along to consumers as the price of gold continues to rise.The cost of the Gold Rings in this years Christmas Price Index reflects the general trend of increasing commodity prices in the Consumer Price Index, including gold, said Dunigan. In addition, increased fears about inflation and the value of the dollar may have led investors to turn to gold as a safer place to invest their money.The price of five gold rings now totals $395, a 21.5 percent increase over 2006 prices, but still nowhere close to 1989 prices, when the five Gold Rings hit an all-time high of $750.Milkmaids Benefit from Minimum Wage IncreaseAs the only unskilled laborers in the Christmas Price Index, the eight Maids-a-Milking make minimum wage, and have not had a raise since 1997. This year, Congress increased their wages by 13.6 percent; bringing the cost of eight Maids-a-Milking for one hour of work to $46.80. The True Love will have to reach deeper into his pockets for the milkmaids in 2008 and 2009, as well - Congress has already approved continued increases to the minimum wage for the next two years.The cost of most performers in the index - the Drummers Drumming, Pipers Piping and Lords-a-Leaping - rose a modest 3 to 4 percent, due primarily to an increase in the performers compensation, reflecting the current labor market in which the unemployment rate is still below 5 percent. Only the price for the Ladies Dancing was unchanged this year, according to Philadanco, a modern dance company in Philadelphia.Food Prices Are For the BirdsAmong the feathered friends in the Christmas Price Index, the most notable increase was a 20 percent change in the price for six Geese-a-Laying, provided by the National Aviary.For True Loves planning to serve a Christmas goose - or six - for a holiday meal, this item will be a bit more expensive, said Dunigan. Food prices have increased over the last year, which has not impacted birds like Turtle Doves and Partridges, but has had an impact on birds traditionally served as food, like Geese.Most of the other bird prices in the index remained even with last years rates, thanks to steady supply and demand for Partridges, Turtle Doves, French Hens and Swans. Aside from the Geese-a-Laying, only the Calling Birds will cost more in 2007. PNC prices the Calling Birds from a national pet store chain, and prices for Calling Birds or canaries were up 25 percent this year, thanks to higher demand and increased shipping costs for retailers.2007: Most Expensive Christmas EverFor those True Loves who prefer to do their shopping online, PNC Wealth Management calculates the cost of The Twelve Days of Christmas gifts purchased on the Web. This year, the trends identified in the traditional index are repeated in the Internet version, with overall growth of 3 percent, very close to the 3.1 percent in the traditional index. This year, the Internet index is very similar to the traditional index. For example, the price of gold is significantly higher online in 2007 compared to 2006. And, as with the traditional Christmas Price Index, bird prices are mostly even with or, in some cases, down a bit from 2006 levels. In general, Internet prices are higher than their non-Internet counterparts because of shipping costs.As part of its annual tradition, PNC Wealth Management also tabulates the True Cost of Christmas, which is the total cost of items gifted by a True Love who repeats all of the songs verses. This holiday season, very generous True Loves will pay more than ever before - $78,100 - for all 364 items, up from $75,122 in 2006. This 4 percent increase is about even with last years 3.5 percent increase.Permalink | Recent Headlines | WWFeeds.com

Wholesale Prices Up 6.3% in 2007
The Labar Department reported today that wholesale prices roses 6.3% in 2007 - the largest increase in 26 years. The AP reports that big inflation increase could impact the Feds decision on whether or not to raise rates.The Labor Department reported that wholesale inflation was up 6.3 percent for all of 2007, reflecting a huge increase for the year in various types of energy costs ranging from gasoline to home heating oil.Meanwhile, retail sales fell by 0.4 percent in December, the worst showing in six months, the Commerce Department reported. Consumer confidence has plunged, reflecting the worsening housing slump and a lingering credit crisis.For inflation, the year ended on a more positive note, with wholesale prices falling by 0.1 percent in December. That reflected decreasing costs last month for gasoline and other energy products. It was a significant slowdown after prices had soared by 3.2 percent in November, which had been the biggest one-month increase in 34 years.The combination of rising inflation pressures and a weak economy represent a dilemma for the Federal Reserve over whether to cut rates to boost economic growth even at the risk of making inflation worse.Prices were moderating somewhat in December but that could have been the result of holiday sales and weaker energy numbers. It would be a mistake to say continued inflation is not a serious concern for 2008 especially with the spring driving season just ahead.Permalink | Recent Headlines | WWFeeds.com

No Recession at Red Hat - New York Times
RTT NewsNo Recession at Red HatNew York Times - Mar 28, 2008By Steve Lohr Red Hat, the Linux software company, gave a nice welcome present today to its new chief executive, James Whitehurst.Red Hat gets lift following upbeat earnings report MarketWatchOut of the Gate: Red Hat Rises CNNMoney.comBizjournals.com - The Associated Press - Motley Fool - Forbesall 280 news articles

Apple Takes a Drubbing
Apple AAPL has been taking a beating on Wall Street today. The stock is down over 10%. The reason isnt the companys holiday performance but the possibility of a weaker future. Forbes is asking if one bad Apple could spoil the bunch - meaning could Apple weakness spill over into other tech stocks. Its hard to see gadgets having as good a year this year as they did last year if we are heading into a recession.To some extent, its a case of one bad Apple AAPL spoiling the bunch. Steve Jobs & Co. is seen as the most innovative, growth-producing group in tech. And if the U.S. consumers economic troubles are starting to rattle mighty Apple, high fliers like Research In Motion RIMM and Google GOOG might not be immune, either.Indeed, Apples holiday performance showed signs that the companys not unstoppable in 2008. In particular, Apples cautious outlook, weakness in U.S. iPod growth and the unpredictability of iPhone sales left Wall Streets pessimists plenty of reason to doubt. And in this jittery market, those pessimists have a lot of power.First, a recap of Apples good news - and there was plenty of it. Apple turned in revenue of $9.6 billion and profit of $1.6 billion for the holiday quarter, blowing past the average analyst estimate. The company shipped a record 2.3 million Intel INTC-based Macs during the period, and actually sold as many iPhones as computers. In the process Apple generated $2.7 billion in cash, bringing its war chest to $18.4 billion.But there was troubling news, too. On the conference call with analysts, Chief Financial Officer Peter Oppenheimer admitted that iPod sales merely met the companys expectations, rather than exceeding them. Part of the reason, he said, was that U.S. iPod sales weakened in December - it took overseas sales to make up the difference. In the U.S., in the gift-buying season, we saw a slightly different curve, he said. That was made up for in our very, very good growth internationally.Apple did have a great holiday quarter but what will happen to Apple in the first three quarters of this year with consumers fighting off a recession and rising prices? Thats the question investors are asking about Apple and many other gadget manufacturers. There are also concerns that if people already have any iPod will they might not be as excited about owning the latest and greatest iPod - especially if things get tight.Permalink | Recent Headlines | WWFeeds.com

Navteqs sale faces a detour - Chicago Tribune
PhoneMag.comNavteq's sale faces a detourChicago Tribune - Mar 29, 2008By Wailin Wong | Tribune reporter March 29, 2008 European antitrust regulators have raised concerns over the acquisition of Chicago-based digital map provider Navteq by Finnish cell phone-maker Nokia, delaying an $8.1 billion deal that is poised to ...Nokia's Navteq Acquisition Faces In-Depth EU Probe Update4 BloombergEU Opens Antitrust Probe Of Nokia-Navteq Deal Wall Street JournalCNNMoney.com - Reuters - The Associated Press - Forbesall 155 news articles

Worst Day of 2008 For Stocks
Stocks plunge again as concerns about the economy continue. Marketwatch reports that the DOW is now at a 10-month low. Today was also the worst day of the year for the stock market. It has been a short year and it hasnt been a good year at all so far.When reminded about how bad things are, the market remembers it should go down, said Art Hogan, chief market strategist at Jefferies & Co.And, it is going to take more than just monetary policy to clean up the mess weve made with this economy, Hogan said.The Philadelphia Fed Survey was a disaster, defying even the most pessimistic projections, said Frederic Ruffy, an analyst at Optionetics.Heres a look at the numbers.DOW - lost 300 points - 2.5%. Hits 10-month low.NASDAQ - lost 47.69 points - 2%S&P 500 - lost 39.94 points - 2.9%.The tumble began when the Philadelphia Fed reported dismal figures.Shortly before the Fed chairman spoke, the Philadelphia Fed said its measure of manufacturing activity feel sharply to a negative 20.9 from a revised reading of negative 1.6 in December. The report underscored the seriousness of the economic concerns that have in recent weeks drawn the focus of both Wall Street and Washington.The Philadelphia Fed just announced dreadful numbers, said John ODonoghue, co-head of equities at Cowen & Co. He said if you look back at Philadelphia Fed data for similar numbers, it takes you back to the 2001 to 2002 recession.Its not rocket science - the economy is slowing dramatically, and its being reflected in economic reports.Bloomberg says Merrill Lynchs huge 4th quarter loss also played a role in the bad day on Wall Street.Permalink | Recent Headlines | WWFeeds.com

Mercantile Bank Corporation Announces First Quarter Provision ... - FOXBusiness
Mercantile Bank Corporation Announces First Quarter Provision ...FOXBusiness - 40 minutes agoGRAND RAPIDS, Mich., Mar 28, 2008 PrimeNewswire via COMTEX -- At a meeting held March 27, 2008, the Board of Directors of Mercantile Bank Corporation Nasdaq:MBWM determined that deteriorating economic conditions and real estate valuations have had ...Mercantile Bank expects 1Q provision BusinessWeekUPDATE 1-Mercantile Bank to post Q1 loss on increased provision ReutersForbes - MLive.com - Trading Markets press release - Business Wire press releaseall 21 news articles

American Axle strike tips US nearer recession as GM, suppliers ... - Detroit Free Press
ServihooAmerican Axle strike tips US nearer recession as GM, suppliers ...Detroit Free Press - 11 hours agoBY JEWEL GOPWANI ? FREE PRESS BUSINESS WRITER ? March 30, 2008 At the beginning of this year, it seemed like Detroit's great labor battles were over, after industry-changing deals at the Detroit automakers and the likes of parts giant Delphi Corp.GM's Broken Axle BusinessWeekStrike at American Axle To Shut Another GM Plant Wall Street JournalMLive.com - Reuters - AFP - DetNews.comall 179 news articles

Fremont General says FDIC orders recapitalization of bank and ... - CNNMoney.com
Fremont General says FDIC orders recapitalization of bank and ...CNNMoney.com - 42 minutes agoNEW YORK, Mar. 28, 2008 Thomson Financial delivered by Newstex -- Fremont General NYSE:FMT PR NYSE:FMT Corp. Friday said the Federal Deposit Insurance Corporation issued a supervisory prompt corrective action directive to the company and to its ...Fremont Ordered to Recapitalize Wall Street JournalFremont Ordered by FDIC to Find Buyer; Curbs Imposed Update3 BloombergReuters - FOXBusiness - Housing Wire - 24/7 Wall St.all 20 news articles

China Mobile Announces Commercial Deployment of TD-SCDMA Technology - FOXBusiness
Boston GlobeChina Mobile Announces Commercial Deployment of TD-SCDMA TechnologyFOXBusiness - 39 minutes agoSHANGHAI, China, March 28, 2008 /Xinhua-PRNewswire-FirstCall via COMTEX/ -- Spreadtrum Communications, Inc. Nasdaq: SPRD, one of China's leading wireless baseband chipset providers, today reports that China Mobile CMCC has announced commercial ...China Mobile to start TD-SCDMA 3G commercial trials from April 1 ... ForbesChina to Launch Trial of 3G Phones FOXNewsAHN - International Herald Tribune - PhoneMag.comall 113 news articles

Vector Capital says offer to buy Captaris has expired - CNNMoney.com
Vector Capital says offer to buy Captaris has expiredCNNMoney.com - 1 hour agoBOSTON, Mar. 28, 2008 Thomson Financial delivered by Newstex -- Private equity firm Vector Capital Friday said its offer to purchase Captaris Inc. NASDAQ:CAPA for $4.75 per share has expired.UPDATE 1-Vector Capital says Captaris offer expires ReutersVector's Bid for Captaris Expires Houston ChronicleFOXBusiness - Blogging Buy Outs - Bizjournals.com - PR Newswire press releaseall 33 news articles