Arcive of financial news
A plan to bail out the struggling bond insurer Ambac Financial Group Inc. could be announced Monday or Tuesday, CNBC reported Friday, citing bankers working on the deal.
There is a consortium of banks - including Citigroup Inc (C, Fortune 500)., UBS AG (UBS), Wachovia Corp. (WB, Fortune 500) and Royal Bank of Scotland Group […]
Filed under: economics by Wolf
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Blackton Inc. last week announced it received contracts totaling an estimated $3 million to provide roofing and flooring materials to three Central Florida home communities.
Orlando-based Blackton will provide roofing materials to Park Square Homes for the 200-lot single-family home community of Water’s Edge at Lake Nona and the 150-unit townhome community of Morningside […]
Filed under: management, money by Wolf
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Struggling electronics and specialty gifts retailer Sharper Image Corp. filed for reorganization under Chapter 11 of the bankruptcy code Tuesday, a week after it named a crisis-management expert as its new chief executive.
The San Francisco-based company filed in the Bankruptcy Court for the District of Delaware.
Under Chapter 11, a company is given time to […]
Filed under: economics by Wolf
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The percentage of households that could afford to buy an entry-level home in California stood at 33 percent in the fourth quarter of 2007, compared with 25 percent for the same period a year ago, and Monterey was the least affordable individual county.
The California Association of Realtors said Tuesday its First-time Buyer […]
Filed under: online by Wolf
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Best Buy said a slowing economy will hurt profits and it reduced its yearly guidance, as consumers held back on high-end TVs, digital music players and cameras.
The nation’s largest consumer electronics retailer said holiday sales were strong but fell off in January. Comparable-store sales rose 1.5% in December, but they will decline modestly for […]
AT&T Florida will temporarily take over telephone service for statewide residents who were using Vilaire Communications, as the Florida Public Service Commission has removed Vilaire’s right to operate in Florida.
The commission found that Vilaire "showed a lack of technical, financial and managerial capability to operate a telecommunications company," a news release said. The […]
Filed under: technology by Wolf
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People’s confidence in the economy sank even lower amid heightened fears about shrinking job opportunities and the possibility the country is falling into recession.
According to the RBC Cash Index, confidence dropped to a mark of 48.5 in early February, from 56.3 last month. The new reading was the worst since the index began in […]
Filed under: Uncategorized by Wolf
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Northern and Central California members of the United Food and Commercial Workers union have voted to merge their organizations, swelling the ranks of Local No. 8 to more than 30,000 workers statewide.
Balloting to ratify a merger between Roseville-based Local 8 and Fresno-based Local 45D was conducted by mail in January and early […]
Filed under: management, marketing by Wolf
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Hawaii's 2007 visitor arrivals would have fallen by about 7 percent if it wasn't for the state's booming cruise ship business.
Cruise passenger arrivals to Hawaii hit 501,000 last year, up 21 percent from 2006.
The state's official visitor arrival numbers, released last week, put 2007 arrivals at 7.36 million, down 1.2 […]
Filed under: online by Wolf
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India's manufacturing grew at the slowest pace in four months in January as weakening consumer demand in the U.S. hurt exports of textiles and auto parts.
ABN Amro Bank NV's purchasing managers' index fell to 60.7 last month, the lowest level since September, from 61.9 in December, according to a report released today. […]