Job News From: Forbes

Forbes.com: Business News

Rebuilding Global Markets The latest analysis and commentary from across Forbes.com. Beware Of Gift Card 'Gotchas' Weakened retailers threaten to leave consumers stranded with $100 million in worthless plastic. Fuel Tax Is Coming To China China joins other Asian nations that are feeling the growing fiscal pressure of paying subsidies. 'Pyramid Banks' Come To Colombia Hundreds of thousands of people may lose savings to unstable financial institutions. The Newspaper Guild's New Pitch: Survival The dwindling union thinks mass layoffs may convert more shops. Some sales technique.

Job News From: Yahoo! Business

Yahoo! News: Business Sat, 22 Nov 2008 03:51:12 GMT

Citigroup talking to U.S. government as shares dive: source (Reuters) Reuters - Citigroup Inc has begun talks with the U.S. government as its plummeting share price raises doubts about the bank's ability to survive, a person familiar with the matter said. U.S. Bancorp acquires Downey, PFF deposits (Reuters) Reuters - US Bancorp agreed to acquire the deposits of Downey Savings and Loan Association and PFF Bank & Trust, the latest in a growing list of banks to fail this year, U.S. banking regulators said on Friday. Obama moves to pick Timothy Geithner for Treasury (Reuters) Reuters - President-elect Barack Obama on Friday moved toward nominating Timothy Geithner as Treasury secretary and charging the respected head of the New York Federal Reserve with helping pull the United States out of an economic nosedive. Wall St Week Ahead: Stocks eye Citigroup, Geithner's next moves (Reuters) Reuters - Wall Street faces stiff headwinds in the week ahead, the fate of Citigroup largest among them, that stand in the way of building on Friday's big rally and preventing November from winding up as one of the worst months for stocks on record. Wall Street stages late rally on Geithner news (Reuters) Reuters - U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action. London stocks down 2.4% (AFP) AFP - London shares were in the backfoot again Friday after a dire manufacturing report compounded fears that a deep and prolonged recession is ever more likely. Ask AP: Importance of housing starts, honeybees (AP) AP - American farmers have long worried about the declining population of honeybees, a key crop pollinator. But honeybees originally came from Europe, so can't U.S. farms get by without them ? with a little help from good old American bugs whose ancestors were here before Columbus? FHA-Backed Loans: The New Subprime (BusinessWeek Online) BusinessWeek Online - As if they haven't done enough damage. Thousands of subprime mortgage lenders and brokers -- many of them the very sorts of firms that helped create the current financial crisis -- are going strong. Their new strategy: taking advantage of a long-standing federal program designed to encourage homeownership by insuring mortgages for buyers of modest means. Wal-Mart names Duke to succeed Scott as CEO (AP) AP - Wal-Mart Stores Inc., the world's largest retailer, unexpectedly announced Friday that its chief executive will retire in February and be replaced by the head of its international division.

Job News From: NPR

NPR Topics: Business Fri, 21 Nov 2008 16:00:00 -0500

Ted Weisberg: A View From The NYSE FloorAfter another volatile week on Wall Street, Robert Siegel checks in with Ted Weisberg, a floor trader on the New York Stock Exchange. Weisberg is the president of Seaport Securities. Citigroup Seeks To Weather StormAs investors continue to shed Citigroup stock, CEO Vikram Pandit is trying to stem speculation that he wants to sell off pieces of the company to raise cash. Rep. Waxman Known As A Keen NegotiatorRep. Henry Waxman ousted Rep. John Dingell to become chairman of the powerful Committee on Energy and Commerce after being No. 2 for more than a dozen years. Congressional watchers say the Democrat could be a powerful force for change. Economic Crisis Dampens Gulf Building BoomThe international economic turmoil is beginning to be felt in the oil-rich Persian Gulf states, where a massive building boom is being supported by migrant workers from India, Pakistan and Bangladesh. Some wonder how the countries might handle large numbers of unemployed expatriate workers. BlackBerry Unleashes A Storm You Can TouchThe BlackBerry Storm, Research In Motion's first touch-screen smart phone, goes on sale Friday through Verizon Wireless. The timing — just prior to the start of the holiday shopping season — and the phone's features position it as a competitor to Apple's iPhone and the G1, which runs Google's Android software. Citigroup May Go On SaleCitigroup weathered the first wave of bank failures, but may have to put itself up for sale now. Wall Street Journal reporter David Enrich discusses why the company is in trouble. It's Not All Green At The L.A. Auto ShowIt's a strange time for a big party — especially for the auto industry. Still, the show must go on. We attended a preview of the L.A. Auto Show and found a capsule view of the problems car makers are facing in the United States — one part financial disaster, one part environmental enthusiasm with a splash of fur. Lawyers Ditch Billable Hour StructurePrivate law firms charge their clients a fortune in billable hours. Now, some firms are doing away with this form of billing because clients just can't afford it. With the economy failing, some lawyers are finding themselves out of a job too. Legal Assistance For Poor Takes A Hit In Connecticut, Legal Aid offices are slashing their budgets and laying off staff at a time when demand for services is increasing. Slowing housing sales and diminishing interest rates aren't helping. What Would Happen If SAG Went On Strike?Screen Actors Guild and movie studio representatives are holding their first contract talks in four months with a federal mediator, but expectations of a deal are low. Hollywood could see another strike soon. Trading Foreign Oil For Foreign Electric Car Parts?A rush to build electric cars could also mean a rush to get minerals that are produced in unstable parts of the world. Lithium-ion batteries require large amounts of cobalt, which comes primarily from the war-torn Democratic Republic of Congo, Tibet and Siberia. Easing dependence on foreign oil could mean increasing dependence on foreign minerals — from even less reliable trading partners than the Persian Gulf states. Electric Car Battery Must Keep Going And GoingOne of the buzzwords at the Los Angeles Auto Show is "electrification." It's a future where cars run solely on battery power. Paul Eisenstein of The Detroit Bureau, an independent auto news service, says that future is still a ways off. He tells Steve Inskeep that for electric cars to succeed, they'll need a battery that lasts for more than 100 miles before a recharge. Will Credit Rating Agencies Be Monitored?The G-20 last weekend committed to exercising strong oversight of credit rating agencies. Many of the financial instruments that are at the heart of the financial crisis had been given AAA ratings, meaning they were supposed to be of the highest quality. That turned out to be wrong. Will the G-20 declaration change anything? Lending Stalls; Banks On SidelinesStock prices are at six-year lows. Over the past two days, the Dow Jones industrial average has lost more than 6 percent of its value. The $700 billion bailout was supposed to stabilize the financial industry and get banks lending again. But that hasn't happened yet. Oil Prices Hovering At 3-Year LowOil prices dipped below $50 a barrel Thursday. That's a nearly two-thirds drop from the record high of more than $147 in July. While that may sound like pleasant news, the low price is actually a symptom of a weak economy. Since many expect the economy to drag for a year or more, oil prices likely will stay low.