Archive for the 'Economy' Category
Radio Interview: Arnie Gundersen on KGO – Fukushima Daiichi Unit 4
May 13th, 2012Reposted on YouTube:
Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO
May 11th, 2012Via: Bloomberg: Eduardo Saverin, the billionaire co- founder of Facebook Inc. (FB), renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill. Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in […]
JPMorgan Loses $2 Billion
May 11th, 2012Update: Fitch Downgrades JPMorgan Chase Via: CNN: The closing bell brought no relief for JPMorgan Chase on Friday, as a major credit rating agency moved to downgrade its debt almost exactly 24 hours after the bank revealed a $2 billion trading loss. Fitch Ratings downgraded both JPMorgan’s short-term and long-term debt, with the latter falling […]
Banks Prepare for the Return of the Drachma
May 11th, 2012Via: Reuters: Banks are quietly readying themselves to start trading a new Greek currency. Some banks never erased the drachma from their systems after Greece adopted the euro more than a decade ago and would be ready at the flick of a switch if its debt problems forced it to bring back national banknotes and […]
Microsoft Bans Firefox on ARM-Based Windows
May 10th, 2012Via: Cnet: Raising the specter of last-generation browser battles, Mozilla launches a publicity campaign to seek a place for browsers besides IE on Windows devices using ARM chips. Stop me if you’ve heard this one before: Microsoft muscles aside other browsers and cements the dominance of Internet Explorer. The browser market, deprived of competition, stagnates. […]
Fed Clears China’s First U.S. Bank Takeover
May 10th, 2012Via: AFP: The United States on Wednesday opened its banking market to ICBC, China’s biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company. Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to […]
Lehman E-Mails
May 9th, 2012Via: Bloomberg: If one wants to understand the full complicity of Wall Street in the Great Recession, look no further than the voluminous package of pre-collapse Lehman Brothers documents that have been made available by the law firm Jenner & Block LLP, which has acted as the coroner in the Lehman post-mortem. Most important, the […]
Google’s Self-Driving Car Licensed to Hit Nevada Streets
May 9th, 2012Via: PC World: Google’s self-driving car is growing up right in front of our eyes: The fledgling autonomous vehicle program recently passed its driver’s license test in Nevada, the first license of its kind in the United States. Obtaining Nevada’s self-driving car license clears the way for Google to test its technology on public roads […]
Southern California Edison Hopes to Restart Damaged San Onofre Nuclear Power Plant Next Month
May 9th, 2012Via: AP: More than 1,300 tubes that carry radioactive water inside the San Onofre nuclear plant in Southern California are so damaged that they will be taken out of service, the utility that runs the plant said Tuesday. The figures released by Southern California Edison are the latest disclosure in a probe of equipment problems […]
Colleges Hold Transcripts Hostage for Graduates Behind on Their Student Loans
May 8th, 2012Via: Oregon Live: Students traditionally have a soft spot for their alma maters. But as growing numbers of students run up debt in the high five and even six figures to pay for college, that may change. Especially when they discover their old school is actively blocking them from getting a job or going on […]
