The Apple e-book conspiracy: Three days in January
Eddy Cue did the legwork, but the deal had Steve Jobs written all over it Cue and Jobs. Source: geeksailor.com After the 56 phone calls in the space of two months, the clandestine meetings in swank Manhattan eateries, the secret e-mails “double erased” to ensure they couldn’t be traced, it all boiled down to three [...]
Read MoreUgly jobs report sparks bond rally
NEW YORK (CNNMoney) — Investors flocked toward the safety of U.S. government debt Friday following a dismal jobs report that showed a sharp slowdown in hiring in March. The Labor Department said the U.S. economy added only 120,000 jobslast month, following three straight monthly gains of 200,000 jobs or more, a trend that economists expected would [...]
Read MoreFederal deficit so far: $777 billion
NEW YORK (CNNMoney) — The federal government racked up an almost $780 billion deficit in the first six months of the fiscal year, according to new data from the Congressional Budget Office. While that’s quite a large number, it’s actually $53 billion less than the same period last year, when the deficit totaled $829 billion. [...]
Read MoreGovernment freezes GM CEO’s pay
NEW YORK (CNNMoney) — The Treasury Department announced Friday that it has frozen the pay of top executives at the three firms still on the hook for “exceptional assistance” from TARP. The firms — AIG (AIG, Fortune 500), Ally Financial and GM (GM,Fortune 500) — all received bailout money from the government during the financial crisis, [...]
Read MoreChinese prices keep climbing
NEW YORK (CNNMoney) — Chinese consumers continue to pay the price for economic prosperity, in the form of inflation for pork, alcohol, traditional medicine and other products, the government reported Monday. The cost of living kept rising in China last month, especially for food prices, the government’s National Bureau of Statistic said. The national [...]
Read More‘Hidden spending’ makes government bigger
NEW YORK (CNNMoney) — Which costs the federal government more: a $2,100 check from Uncle Sam or a tax break worth $2,100? The answer is they cost the same. The difference is that the $2,100 check is classified as federal spending. And the tax break doesn’t show up on the $3.6 trillion federal budget. [...]
Read MoreThere is no student loan ‘crisis’
NEW YORK (CNNMoney) — Total student loan debt has topped $1 trillion … but there’s no need to panic. Most borrowers have a reasonable amount of debt, and the total balance is not likely to cause major damage to the economy like the mortgage crisis did, experts say. “I don’t think it’s a bubble,” said [...]
Read MoreJobless rates fall in 29 states
NEW YORK (CNNMoney) — Unemployment fell in 29 states in February and rose in only eight, the government reported Friday, in another sign of broad improvement in the U.S. labor market. The improvement means there are only three states with unemployment above the 10% mark — Nevada with a 12.3% unemployment rate, Rhode Island, [...]
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