Job News From: Forbes

Forbes.com: Business News

Rebuilding Global Markets The latest analysis and commentary from across Forbes.com. Beware Of Gift Card 'Gotchas' Weakened retailers threaten to leave consumers stranded with $100 million in worthless plastic. Fuel Tax Is Coming To China China joins other Asian nations that are feeling the growing fiscal pressure of paying subsidies. 'Pyramid Banks' Come To Colombia Hundreds of thousands of people may lose savings to unstable financial institutions. The Newspaper Guild's New Pitch: Survival The dwindling union thinks mass layoffs may convert more shops. Some sales technique.

Job News From: Yahoo! Business

Yahoo! News: Business Fri, 21 Nov 2008 22:47:24 GMT

Citigroup shares drop; CEO plans to keep Smith Barney (Reuters) Reuters - Citigroup Inc Chief Executive Vikram Pandit tried to downplay speculation the banking giant might sell major businesses to restore its health and investor confidence, but shares still tumbled for a fifth straight day. Obama moves to pick Geithner for Treasury (Reuters) Reuters - President-elect Barack Obama on Friday moved toward nominating Timothy Geithner as Treasury secretary and charging the respected head of the New York Federal Reserve with helping pull the United States out of an economic nosedive. Wall Street stages late rally on Geithner news (Reuters) Reuters - U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action. Goldman cool to Citi deal even with U.S. aid: source (Reuters) Reuters - Goldman Sachs Group Inc is not interested in buying hard-hit Citigroup Inc , even with substantial U.S. government financial support, a person familiar with Goldman's strategy said Friday. Wal-Mart's Scott retiring as CEO, Duke to succeed (Reuters) Reuters - Wal-Mart Stores Inc , which is gaining market share amid a global economic downturn, said Lee Scott will retire as chief executive early next year and will be succeeded by Mike Duke, who heads its international operations. European stocks drop as Dow erases early gains (AP) AP - European markets fell further Friday as early gains on Wall Street were wiped out amid mounting fears about the U.S. economy and the future of banking giant Citigroup Inc. in particular. Asian stocks closed mostly higher earlier in the day. Report: Ford Germany needs no state bailout money (AP) AP - Bernhard Mattes, chief of Ford Motor Co.'s German unit, said that while the company can survive without a bailout from the German state, it hopes the European Union will help the ailing auto industry with a loan package. Target rejects Pershing's real estate proposal (Reuters) Reuters - Target Corp on Friday rejected as "highly speculative" proposals made by hedge fund manager William Ackman that he said would unlock the value of its real estate and boost the discount retailer's sagging stock price.

Job News From: NPR

NPR Topics: Business Fri, 21 Nov 2008 16:00:00 -0500

Ted Weisberg: A View From The NYSE FloorAfter another volatile week on Wall Street, Robert Siegel checks in with Ted Weisberg, a floor trader on the New York Stock Exchange. Weisberg is the president of Seaport Securities. Citigroup Seeks To Weather StormAs investors continue to shed Citigroup stock, CEO Vikram Pandit is trying to stem speculation that he wants to sell off pieces of the company to raise cash. Rep. Waxman Known As A Keen NegotiatorRep. Henry Waxman ousted Rep. John Dingell to become chairman of the powerful Committee on Energy and Commerce after being No. 2 for more than a dozen years. Congressional watchers say the Democrat could be a powerful force for change. Economic Crisis Dampens Gulf Building BoomThe international economic turmoil is beginning to be felt in the oil-rich Persian Gulf states, where a massive building boom is being supported by migrant workers from India, Pakistan and Bangladesh. Some wonder how the countries might handle large numbers of unemployed expatriate workers. BlackBerry Unleashes A Storm You Can TouchThe BlackBerry Storm, Research In Motion's first touch-screen smart phone, goes on sale Friday through Verizon Wireless. The timing — just prior to the start of the holiday shopping season — and the phone's features position it as a competitor to Apple's iPhone and the G1, which runs Google's Android software. Citigroup May Go On SaleCitigroup weathered the first wave of bank failures, but may have to put itself up for sale now. Wall Street Journal reporter David Enrich discusses why the company is in trouble. It's Not All Green At The L.A. Auto ShowIt's a strange time for a big party — especially for the auto industry. Still, the show must go on. We attended a preview of the L.A. Auto Show and found a capsule view of the problems car makers are facing in the United States — one part financial disaster, one part environmental enthusiasm with a splash of fur. Lawyers Ditch Billable Hour StructurePrivate law firms charge their clients a fortune in billable hours. Now, some firms are doing away with this form of billing because clients just can't afford it. With the economy failing, some lawyers are finding themselves out of a job too. Legal Assistance For Poor Takes A Hit In Connecticut, Legal Aid offices are slashing their budgets and laying off staff at a time when demand for services is increasing. Slowing housing sales and diminishing interest rates aren't helping. What Would Happen If SAG Went On Strike?Screen Actors Guild and movie studio representatives are holding their first contract talks in four months with a federal mediator, but expectations of a deal are low. Hollywood could see another strike soon. Trading Foreign Oil For Foreign Electric Car Parts?A rush to build electric cars could also mean a rush to get minerals that are produced in unstable parts of the world. Lithium-ion batteries require large amounts of cobalt, which comes primarily from the war-torn Democratic Republic of Congo, Tibet and Siberia. Easing dependence on foreign oil could mean increasing dependence on foreign minerals — from even less reliable trading partners than the Persian Gulf states. Electric Car Battery Must Keep Going And GoingOne of the buzzwords at the Los Angeles Auto Show is "electrification." It's a future where cars run solely on battery power. Paul Eisenstein of The Detroit Bureau, an independent auto news service, says that future is still a ways off. He tells Steve Inskeep that for electric cars to succeed, they'll need a battery that lasts for more than 100 miles before a recharge. Will Credit Rating Agencies Be Monitored?The G-20 last weekend committed to exercising strong oversight of credit rating agencies. Many of the financial instruments that are at the heart of the financial crisis had been given AAA ratings, meaning they were supposed to be of the highest quality. That turned out to be wrong. Will the G-20 declaration change anything? Lending Stalls; Banks On SidelinesStock prices are at six-year lows. Over the past two days, the Dow Jones industrial average has lost more than 6 percent of its value. The $700 billion bailout was supposed to stabilize the financial industry and get banks lending again. But that hasn't happened yet. Oil Prices Hovering At 3-Year LowOil prices dipped below $50 a barrel Thursday. That's a nearly two-thirds drop from the record high of more than $147 in July. While that may sound like pleasant news, the low price is actually a symptom of a weak economy. Since many expect the economy to drag for a year or more, oil prices likely will stay low.