“Time Warner said Wednesday its revenue rose 4 percent from a year ago, but impairment charges including one from the troubled HBO series “Luck” kept the media company from recording a higher profit in the first quarter.
First-quarter revenue from the company’s TV and cable networks, which include TNT, CNN, and HBO, rose 3 percent to $2.6 billion….”
Comments »“Standard & Poor’s rating agency upgraded Greece’s long-term credit rating from ‘selective default’ to sub-investment grade triple-C on Wednesday, citing the country’s recently-completed bond swap…”
Comments »“MANNHEIM, Germany (Reuters) – A court in Mannheim ruled on Wednesday that Microsoft infringed Motorola Mobility’s patents and ordered Microsoft to remove its popular Xbox 360 gaming consoles and Windows 7 operating system software from the German market.
However, Microsoft said that the ruling did not mean that its products would be taken off retailers’ shelves because a U.S. district court in Seattle has granted Microsoft a preliminary injunction against Motorola to prevent the phone maker from enforcing any German court order…”
Comments »“Carlyle Group LP (CG) is out to replicate the performance of companies it has taken public with its own share sale this week. Doing so would make it the only U.S. buyout firm trading above its initial offering price.
To entice investors, the Washington-based private equity manager is offering shares at a 62 percent discount to Blackstone Group LP (BX), data compiled by Bloomberg show. The IPO price is designed to provide the maximum potential return for investors, co-founder David Rubenstein told prospective shareholders at a presentation in New York last week…”
Comments »“Oil slid from the highest level in five weeks as increasing crude stockpiles in the U.S. and declining industrial output in Europe fanned concern that global demand may weaken.
Futures in New York dropped as much as 0.5 percent. U.S. crude inventories rose 2.04 million barrels last week, the fifth gain in six weeks, the American Petroleum Institute said yesterday. Euro-area manufacturing shrank for a ninth month in April, while France, Italy and Greece will hold elections this weekend. Prices advanced 1.2 percent yesterday after an index of U.S. manufacturing increased at the fastest pace in 10 months.
“Concerns about Europe continue to weigh on risk,” Michael Hewson, a London-based analyst at CMC Market, which handles about $240 million a day in U.S. crude contracts, said today in an e-mailed response to questions. “There’s still a lot of uncertainty ahead of this weekend’s political events in France, Greece and Italy. Economic data continue to disappoint in Europe.”
Comments »You have to wonder if we impose austerity; will we see unemployment rise again ?
Comments »“The Australian and New Zealand dollars rose against the yen as Asian stocks extended a global rally, boosting the allure of higher-yielding assets.
Both currencies snapped a two-day decline against the greenback after a private report showed improvement in China’s manufacturing industry last month, easing concern the world’s second-biggest economy will slow further. Demand for the South Pacific nations’ currencies was also bolstered before U.S. data this week forecast to show a pickup in hiring….”
Comments »Scared money finds no place to invest other than bonds; German yields hit record lows.
Comments »“Emerging-market stocks headed toward the highest in more than three weeks after manufacturing in the U.S. and China picked up pace in April, boosting the outlook for exporters to the world’s two biggest economies.
The MSCI Emerging Markets Index (MXEF) advanced 0.5 percent to 1,030.32 as of 12:00 p.m. in London, set for the strongest close since April 6. Samsung Electronics Co. (005930), South Korea’s largest exporter of consumer electronics, added 1.4 percent. Most emerging marketswere closed for public holidays yesterday. The BUX Index (BUX) rose 0.9 percent as Hungary prepared to start negotiations on a credit line from the International Monetary Fund and the European Union….”
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Comments »Click an industry to double income taxes on the nation’s largest employers and take all of their CEOs’ pay. For more information, simply click each industry you’d like to soak. Track your progress below, and click the “Show Results” button at any time to see the impact of your new taxes!
Good news…the U.S. may have managed the crisis better than many economies facing a similar crisis in the past.
Read the article here.
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