Archive for October 2nd, 2009
Madoff relatives sued for $199 million
The court-appointed trustee liquidating Bernard Madoff’s business filed a $199 million lawsuit against four of his family members on Friday.
Stocks slide for second week
Stocks meandered Friday, at the end of a second straight week of losses, as investors worried that a worse-than-expected jobs report was further evidence that the rally has gotten ahead of the recovery.
Macau casinos roll a pair of hot IPOs
In recession-battered Las Vegas, there is still plenty of elbow room at the craps tables. Not so in Macau. Gambling revenue in the Chinese region soared in September, according to figures released this week, and two hotly anticipated stock offerings show that the high rollers have returned.
Dollar dips after dismal jobs data
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Golf architect’s new course is pitch perfect
On a rare windless day on the Oregon coast, Tom Doak stands a few strides from a cliff above the Pacific Ocean, gazing toward the flagstick of a long, downhill par 3. He takes a fast, fluid swing with a 4-iron but pulls his shot well left of the flag. We can’t see where the ball has come to rest. “Believe it or not, that should still be okay,” he says, smiling.
Bond prices fall sharply ahead of auction
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Personal bankruptcies hits a 4-year high
Personal bankruptcies topped the 1 million mark in the first nine months of the year, the first time it has done so in four years, according to an industry research firm released Friday.
Best corporate citizens: Hotels
On the surface, the largest hotel firms should be standard bearers for corporate citizenship. After all, they make their money introducing guests to new cultures and pristine landscapes, so they have an interest in preserving the environment and supporting the local community. They spend billions each day on heating and water, and as the ubiquitous notes in hotel bathrooms urging us to save our towels can attest, they are acutely aware of the need to conserve these resources and reduce that cost. Like all consumer brands, they know the reputational risks of entanglement in labor or human rights abuse.
Bad news: Jobs market getting worse
Employers cut more jobs from their payrolls in September and the unemployment rate hit another 26-year high, as the long-battered U.S. labor market took an unexpected turn for the worse, according to a government report Friday.
Europe’s banks back from brink for now
In the financial crisis, Europe’s banking sector has been the shoe that wouldn’t drop.
