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October 11th, 2012

Spain’s Credit Rating Downgrade Sends Asian Stocks Tumbling

(George Sterling) - One of the most indebted countries in euro zone, Spain’s credit rating was degraded by two notches on Thursday which sent Asian stocks tumbling. Spain, which is also the 4th biggest economy in the euro zone, is battling with severe debt. During late hours of Wednesday, Standard & Poor degraded Spain’s credit rating, sending it [...]

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October 8th, 2012

World Bank Cuts Economic Forecast of East Asia: Stock React Negatively

(George Sterling) - On Monday, the World Bank cut its economic growth forecast for the East Asia region, due to which, stocks dropped. The World Bank pin pointed concerns regarding corporate profits along with the overall negative global economic outlook as the reasons of cutting the region’s growth forecast. On the other hand, World Bank also raised concerns [...]

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October 5th, 2012

US Jobless Rate Drops To 44-Month Low

(George Sterling) - United States’ unemployment rate dropped to 7.8 percent in the past month, hitting a 44 month low. The jobless rate of the economy has dropped below 8 percent in almost four years. The fact that the U.S unemployment rate has dropped would help boost Obama’s election campaign as well. According to the Labor Department, the [...]

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October 4th, 2012

Markets Slowdown Before Draghi’s Press Conference

(George Sterling) - On Thursday, financial markets remained slow before European Central Bank’s monthly policy meeting. Another reason for the markets’ slowdown is that investors are looking forward to the revelation of crucial U.S economic data. For the entire week, markets have remained calm as investors maintain a close eye on the largest economy’s developments as well as [...]

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September 26th, 2012

RadioShack CEO Steps Down

(George Sterling) - RadioShack, the popular electronics retailer, can’t seem to hold onto its CEOs as today, it was officially announced that James F.Gooch, the company’s CEO is stepping down. Gooch’s replacement is already underway as RadioShack’s board has brought in an executive search firm to find the replacement. Gooch was the chief financial officer at RadioShack before [...]

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September 26th, 2012

Spain’s Prime Minister Faces Extreme Pressure At The Hands Of Locals

(George Sterling) - Spain’s Prime Minister Mariano Rajoy is facing extreme pressure at the hands of locals as he inches closer towards accepting a bailout package. Rajoy will be announcing even tougher economic reforms and a tighter budget for the next year on Thursday that will further drive the emotions of the locals. The locals are protesting against [...]

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September 25th, 2012

Lower End Housing Prices Rise As Market Strengthens

(George Sterling) - According to data released on Tuesday, the housing market continued to gain strength and the price gains are spreading across the lower end market in many of the major cities. The Standard & Poor’s Case-Schiller index revealed an annual gain of 1.2% in July. In June, the prices had increased by 1.6%, making it the [...]

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September 25th, 2012

Discover Network To Pay $214 For Deceiving Marketing

(George Sterling) - According to two federal agencies, Discover Network will pay $200 million to 3.5 million customers, who used the bank’s credit cards, due to deceiving marketing. The total amount which Discover Network is due to pay is $214 million. The federal regulators have said that the $200 million which the bank has been charged with will [...]

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September 24th, 2012

Free Checking Fee Hits Record High Value

(George Sterling) - Free checking now costs a lot more than ever before as banks raise the fee and minimum balance requirements significantly. According to data revealed by Bankrate.com on Monday, the minimum balance has been raised to $723 for this year. The fee increase by banks is a response to the new regulations and the ongoing economic [...]

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September 24th, 2012

European Shares Tumble Amid High Uncertainty In Euro Zone

(George Sterling) - After the markets opened on Monday, European shares as well as the euro tumbled due to accelerating uncertainty in the euro zone. Last week, investors’ were optimistic after some of the biggest central banks announced plans of monetary expansion to boost the economy. However, after the market opened today, investors were more concerned about the [...]

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