Even though the Academy Awards banned official swag bags four years ago (thanks to an IRS decree that actors must pay taxes on the gifts), companies still scramble to get their items into the luxury-laden gift baskets. Continue reading Why Starstruck Companies Keep Spending Millions on Oscar “Swag” Why Starstruck Companies Keep Spending Millions on Oscar “Swag” originally appeared on DailyFinance on Sat, 06 Mar 2010 08:00:00. Filed Under: Company News , People , Media Permalink | Tweet this! | Comments

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Why Starstruck Companies Keep Spending Millions on Oscar "Swag"

Filed under: Investing Slumping financial shares pulled the stock market mostly lower Monday after Federal Reserve Chairman Ben Bernanke’s prediction that interest rates will remain low failed to galvanize investors. Stocks initially rose Monday afternoon after Bernanke said that forces like unemployment and tight credit would hold the economy to “moderate” improvements. He also reaffirmed the Fed’s position that interest rates are likely to remain low for an extended period. But the glow from Bernanke’s comments faded by the early afternoon, sending stocks generally lower as investors went back to being cautious about the economy. Dan Deming, a trader with Stutland Equities, said there were simply too few buyers to propel the market much higher. “It just feels like it’s drifting,” he said. “The market feels tired.” Continue reading Stocks end mixed after Fed’s talk about low interest rates leaves Wall Street cold Stocks end mixed after Fed’s talk about low interest rates leaves Wall Street cold originally appeared on DailyFinance on Mon, 07 Dec 2009 16:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Stocks end mixed after Fed’s talk about low interest rates leaves Wall Street cold

Filed under: JP Morgan Chase JP Morgan ( JPM ), RBS ( RBS ), Credit Suisse ( CS ) and several other large firms with financial research arms have put out educated guesses as to which banks are most exposed to Dubai debt. Coming up with these numbers has turned out to be an inexact science. And, Dubai may make good on its payments, so the concern about large bank write-offs could turn out to be academic. Credit Suisse reports that European banks may have as much as $40 billion in exposure in Dubai. RBS says that getting correct numbers on Dubai is not possible but that European banks have almost $84 billion in exposure in the United Arab Emirates. According to The Wall Street Journal, RBS derived its data by “using data compiled by the Bank for International Settlements. U.K. banks have by far the largest exposure at $49.5 billion, while French and German banks top the euro-zone list with $11.3 billion and $10.2 billion respectively.” Continue reading European banks have large exposure to Dubai debt European banks have large exposure to Dubai debt originally appeared on DailyFinance on Fri, 27 Nov 2009 09:40:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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European banks have large exposure to Dubai debt

Filed under: Economy If the credit crisis is over — and it most certainly is as measured by tighter credit spreads — why aren’t banks making loans to the people who need them most, American taxpayers? You don’t have to be the chairman of the Federal Reserve to know that banks are behaving worse than Scrooge when it comes to extending credit to small businesses and consumers. Ben Bernanke admitted as much in a recent speech , which is perplexing since a zero-interest-rate policy (ZIRP) is supposed to stimulate economic growth, most of which is generated by those very same small businesses and consumers. Continue reading Need a loan? Why the banks (and Fed) are saying ‘Scrooge you’ Need a loan? Why the banks (and Fed) are saying ‘Scrooge you’ originally appeared on DailyFinance on Fri, 27 Nov 2009 10:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Need a loan? Why the banks (and Fed) are saying ‘Scrooge you’

Filed under: Economy Given all the crazy, extraordinary stuff the Federal Reserve has been dragooned into doing in the last year (”quantitative easing,” anyone?), it’s easy to forget that it has only two, very simple mandates: price stability and full employment. Reading between the lines of Federal Reserve Chairman Ben Bernanke’s speech Monday, it’s clear the Fed will utterly fail on the second part of its directive for years to come. In other words, we’re in for the mother of all jobless recoveries. Indeed, the best thing Bernanke could say about the unemployment situation is that it “may be getting worse more slowly.” Continue reading Bernanke between the lines: We’re in for the mother of all jobless recoveries Bernanke between the lines: We’re in for the mother of all jobless recoveries originally appeared on DailyFinance on Mon, 16 Nov 2009 15:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Bernanke between the lines: We’re in for the mother of all jobless recoveries

Filed under: Dell , Google , Apple , AT&T The annual trade show of CTIA – The Wireless Association has been going on for only a few hours, and already the San Diego event’s theme is clear: This is Google’s wireless coming-out party, and FCC Chairman Julius Genachowski is leading cheers. With a series of high-profile deals, Google ( GOOG ) is putting the cell phone industry on notice that the search giant intends to compete vigorously in the fast-moving market for wireless devices and services. The latest pact is with computer manufacturer Dell to market a device powered by Google’s Android operating system — first reported by Crunchgear. It follows yesterday’s announcements of a Google partnership with Verizon Wireless and AT&T’s ( T ) reversal on allowing web-calling services on Apple’s ( AAPL ) iPhone. Continue reading Google gets serious about wireless, with a little help from the FCC Google gets serious about wireless, with a little help from the FCC originally appeared on DailyFinance on Wed, 07 Oct 2009 19:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Google gets serious about wireless, with a little help from the FCC

Filed under: Bank of America Bank of America’s ( BAC ) leaked decision to appoint an “emergency” CEO likely has investors questioning what the embattled bank’s board of directors know about about the likelihood of criminal charges soon surfacing against outgoing Chief Executive Ken Lewis. A five-member committee at BofA is due to select an emergency CEO this week, the Wall Street Journal (WSJ subscription required) reported Monday. The panel, led by Chairman Walter Massey, was formed earlier this year to respond to concerns raised by U.S. banking regulators. Both the Securities & Exchange Commission and New York State Attorney General Andrew Cuomo are threatening legal action following the bank’s failure last year to disclose $3.6 billion in bonuses paid to executives at Merrill Lynch prior to the closing of its merger with BofA. Continue reading BofA’s search for an ‘emergency’ CEO means it’s moving on BofA’s search for an ‘emergency’ CEO means it’s moving on originally appeared on DailyFinance on Mon, 05 Oct 2009 18:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Economy , JP Morgan Chase , Bank of America To rein in Wall Street, former Federal Reserve Chairman Paul Volcker wants to see the return of discarded reforms first implemented during the Great Depression, he told a congressional committee Thursday. Volcker, who famously conquered the sky-high inflation of the late ’70s and ’80s when he led the Fed, thinks big banks shouldn’t be able to run lucrative-but-risky trading desks or underwrite stock or bond issues. Barring banks from those businesses would help reduce the danger of future crises and lessen the need for big bailouts, he said. Continue reading Volcker: Depression-era bank rules were better Volcker: Depression-era bank rules were better originally appeared on DailyFinance on Thu, 24 Sep 2009 19:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: People Looking back on Bernard Madoff’s crimes, the nation’s courtrooms, newspapers, magazines, and blogs have repeatedly asked the same question: how. How could this happen? How did he get away with it? Perhaps most importantly, how did he fool so many people for so long? One answer lies in Madoff’s resume. In addition to his years as a successful trader, the famed fraudster was Chairman of the Board of Directors of the National Association of Securities Dealers, a self-regulatory organization that oversees the securities market. However, as impressive as this position is, it pales beside the job that, according to him, was almost within his grasp. Continue reading Bernard Madoff: Top cop at the SEC? Bernard Madoff: Top cop at the SEC? originally appeared on DailyFinance on Wed, 02 Sep 2009 18:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Bernard Madoff: Top cop at the SEC?

Filed under: Economy , Investing U.S. stocks are poised to advance at the open Friday morning as investors awaited a speech from Federal Reserve Chairman Ben Bernanke. Housing data will also be in focus this morning. Meanwhile, concerns over China remained following its plans to tighten capital requirements for banks, which could affect lending. More here: Before the bell: Stock futures advance ahead of Bernanke, housing Stocks set to open higher ahead of Bernanke speech, housing data originally appeared on DailyFinance on Fri, 21 Aug 2009 07:40:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Stocks set to open higher ahead of Bernanke speech, housing data