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| AM Business Notebook By: MetroSoruce News (New York, NY) -- Investors' worries over sovereign debt problems in Europe may keep the stock markets in turmoil this week. Stocks fell precipitously last week over concerns about debt run up by Spain, Portugal and Greece and whether they can pay The value of the euro eroded against the dollar, sending stocks and commodities lower across the board including oil and gold. Also potentially affecting the markets will be testimony by Federal Reserve Chairman Ben Bernanke on Capitol Hill on Wednesday. He'll talk about unwinding the Fed's financial rescue programs that were put in place in 2008 and 2009. In addition, corporate earnings reports will continue to roll in. Among the major firms reporting this week are Coca-Cola, Disney, Pepsi, CVS, Marriott, Hasbro and Electronic Arts. >>Stocks Close Below 10k (New York, NY) -- Stocks gained modest ground on Friday but didn't make a full recovery after Thursday's sell-off. The Dow gained ten points to close at 10-012. The Nasdaq gained 16 points to close at 21-41. The broader S&P 500 Index rose three points, finishing at 10-66. >>Jobs Are Lost In January, But Jobless Rate Drops (Washington, DC) -- The unemployment rate is at its lowest point in five months. The latest figures from the Labor Department show the unemployment rate in January was nine-point-seven percent, a drop of nearly half a point from December. However, the statistics also show the economy lost 20-thousand jobs. The White House says the latest figures are good, but more work is necessary to put Americans back to work. >>Toyota President Apologizes For Problems (New York, NY) -- Toyota's president is apologizing for the problems with his company's vehicles. The company is dealing with a recall over sticky gas pedals in multiple vehicle models and rumors of a possible recall over faulty brakes in new Priuses. Toyota president Akio Toyoda [[ Ah-kee-oh Toh-yoh-dah ]] said he deeply regrets the problems and the company will do its best to regain the public's trust. After shutting down production for a week at six North American plants, Toyota will fire assembly lines back up today. >>Paulson, Greenspan Talk Jobs (Washington, DC) -- Former Federal Reserve Chairman Alan Greenspan believes high unemployment rates are moving toward a turnaround, but not in an aggressive manner. Greenspan and former Treasury Secretary Henry Paulson appeared on NBC's "Meet the Press" to talk about the latest job figures, which have unemployment rates at nine-point-seven-percent nationally. Paulson said the economy is clearly recovering and he has great confidence that a dynamic private sector will steer the country toward job creation. >>"Avatar" Drops From Top Box Office Spot (Los Angeles, CA) -- "Avatar" is no longer the number-one movie in North America. The new romantic flick "Dear John" broke the science fiction fantasy's seven-week hold on the top spot by bringing in an estimated 32-point-four-million dollars. Distributor Screen Gems estimated the movie would bring in around 20-million dollars in its opening weekend. Sony, which owns Screen Gems, said audiences were 84-percent women and mostly under the age of 21. "Avatar" earned 23-point-six-million. In third this week was the debut of "From Paris With Love," earning eight-point-one-million. Falling to fourth from second last week was "Edge Of Darkness," followed by "The Tooth Fairy" in fifth place. Story Posted: Mon Feb 8 07:35:38 CST 2010 Created: Mon Feb 8 07:36:13 CST 2010 BACK TO HOME/NEWS |
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