Wal-Mart has benefited from the credit markets in time of economic tension, but it caused a severe blow for the biggest home improvement chain, Home Depot. Wal-Mart Stores, Inc. is an American public corporation, currently the world’s largest public corporation by revenue, according to the 200[...]
January 22nd, 2012 - 6:34 am § in News Of Economy
Morgan Stanley faces first ever loss, welcomes Chinese investment
The US sub prime mortgage market crisis has trapped all major financial investors into its snare. After the Citigroup, Goldman Sachs it is now time for Morgan Stanley to show its weakness. First time in the investment bank’s 72-year history, Morgan Stanley faced its first quarterly loss with a[...]
January 21st, 2012 - 1:24 pm § in News Of Economy
US House passes bill to protect homeloan borrowers
To protect borrowers of home loans from abusive banking industry the US House of Representatives passed a bill ensuring the rights of borrowers on Thursday evening. The bill, which was passed by a 291-127 vote, garnered 64 votes from the Republicans while none of the Democrats opposed the bill. Howe[...]
January 21st, 2012 - 1:22 pm § in News Of Economy
Dollar decline: Symbol of hegemony to shunned currency
Is the world’s totemic currency fast loosing its hegemony? That the dollar is fast loosing its glitter has come forward in a recent online poll by the Wall Street Journal asking people which currency they would prefer to be paid in. The euro came on top, followed by the sterling, the Canadian [...]
January 21st, 2012 - 6:33 am § in News Of Economy
French President Sarkozy proposes taxing new technology to finance the old
French President Nicholas Sarkozy has announced a new policy proposing the ban of advertisements from the public television and compensating for the lost revenue by taxing new tele-communicative means, such as the internet and mobile phones. Experts believe, this move can probably change the media s[...]
January 20th, 2012 - 1:22 pm § in News Of Economy
Opec unites over soaring oil prices
Despite differences on a number of issues, OPEC members are united over increasing oil prices, which could touch $200 per barrel. Inaugurating the OPEC summit in Riyadh, the Venezuelan President Hugo Chavez gave a chilling warning to the global community that oil prices would reach unprecedented hei[...]