Bowing to reality, Best Buy will slash the floor space it devotes to compact discs and DVDs this holiday season. It's a reflection of the record industry's grinding digital transformation. Meanwhile, Google is getting ready to challenge Apple, the digital music king.
Europe's shakiest economies managed to ride out a sovereign debt crisis this spring with a lot of help from their more stable neighbors and the major central banks. But new data suggests we may soon see a replay of the debt default crisis.
Former AIG executive Joseph Cassano, who led the insurer's ill-fated CDS unit, says he has no idea why the government paid full price to cover AIG's swaps, asserting that he could have "negotiated an appreciably better deal" for taxpayers.
In this low interest rate environment, returns on CDs are paltry. But they could still play a useful role in your portfolio of protecting your capital. Here are some tips for using CDs effectively.
A day after BP's stock took a 16% nosedive, the company maintains that it is "not aware of any reason which justifies this share price movement." BP also defended its financial health as reports questioned whether the company would have to file for bankruptcy.
According to The Financial Times, AIG is hoping to piggyback on the SEC's fraud case against Goldman Sachs to recover $2 billion that it paid the investment bank. But what's missing from the article is any evidence that AIG has a case against Goldman.
As the personal savings rate in the US has grown to 4.4% and continues to rise, Charles Schwab, TD Ameritrade and ING Direct are trying to entice investors to save a portion of that growing asset base with them.
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