Archive for September 16th, 2009
When the CEO heads back to the mail room
Small businesses have shed an estimated 1.6 million jobs this year. That leaves the remaining staffers to pick up the workload left behind — and even bosses are pitching in. With their employee rosters cut to the bone, business owners are going back to the basics, re-learning to do tasks they may not have handled in years.
Stocks spike to 1-year highs
Stocks gained Wednesday, pushing Wall Street to its highest level in a year, with a rise in industrial production and a spike in commodity prices and equities fueling the advance.
Gold still powering past $1,000
Gold prices settled Wednesday at their highest point as the dollar slumped and inflation concerns boosted demand for the metal as a hedge against rising prices.
Chrysler starts leasing again
Chrysler will begin leasing vehicles again after a hiatus of more than a year, the automaker announced Wednesday.
BofA board members subpoenaed
New York Attorney General Andrew Cuomo issued subpoenas to five Bank of America board members on Wednesday, as part of his investigation into the bank’s purchase of Merrill Lynch a year ago, a source close to the investigation told CNN.
Russia settles suit against U.S. bank for a pittance
A bizarre and troubling civil racketeering case filed against the Bank of New York Mellon by the Russian customs service — ostensibly brought under U.S. law but filed in a Moscow court — may be coming to an unexpectedly rational end.
Builder confidence up, but tax fears loom
An index of home builders’ confidence rose in September for the third month in a row, but an industry group said Wednesday the fragile residential real estate market recovery could be cut short if a popular government tax credit isn’t extended.
Oil tops $72 on inventory drop
Oil prices rose for the second session straight Wednesday after a government report showed crude inventories fell more than expected, and the dollar continued to weaken.
The new bubble: Books on the bubble
Read full story for latest details.
Fiat CEO: Chrysler worse than we thought
The situation at recently rescued Chrysler Group is even more dire than first thought, the CEO of Italy’s Fiat — which came to the aid of the U.S. automaker — said Wednesday.
