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Business Mirror

Saturday
Nov 21st
Bloomberg Specials
Lunch with Bernanke PDF Print E-mail
Bloomberg Specials
Written by Michael McKee & Rich Miller / Bloomberg News   
Tuesday, 17 November 2009 18:39

Federal Reserve chairman Ben S. Bernanke has succeeded in returning the US economy to growth after the longest contraction in more than six decades. So far Wall Street, not Main Street, has been the primary beneficiary.  Bernanke, who spoke on Monday at an Economic Club of New York luncheon, has helped spark a 62-percent rally in the stock market since March 9 by pledging to keep borrowing costs “exceptionally low” for “an extended period.” His efforts haven’t stopped unemployment from reaching a 26-year high of 10.2 percent in October.

Last Updated ( Tuesday, 17 November 2009 18:48 )
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The Fall of the Wall: Leipzig’s most modern BMWs drive back to future since Berlin Wall PDF Print E-mail
Bloomberg Specials
Written by Tony Czuczka / Bloomberg News   
Tuesday, 10 November 2009 18:38

Leipzig was the scene of protests that spread to Berlin and toppled communist East Germany in 1989. Since then, it has added jobs faster than any German city, east or west, as governments and companies led by Bayerische Motoren Werke AG, Amazon.com Inc. and Deutsche Post AG invested more than $17.8 billion.

Last Updated ( Tuesday, 10 November 2009 18:45 )
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Return of the big bucks: Wall Street bonuses rise as Big 3 may pay $30 billion PDF Print E-mail
Bloomberg Specials
Written by Michael J. Moore & Ian Katz / Bloomberg News   
Tuesday, 10 November 2009 18:33

Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co.’s investment bank, survivors of the worst financial crisis since the Great Depression, are set to pay record bonuses this year.  The firms—the three biggest banks to exit the Troubled Asset Relief Program—will hand out $29.7 billion in bonuses, according to analysts’ estimates. That’s up 60 percent from last year and more than the previous high of $26.8 billion in 2007. The money, split among 119,000 employees, equals $250,400 each, almost five times the $50,303 median household income in the US last year, data compiled by Bloomberg show.

Last Updated ( Tuesday, 10 November 2009 18:40 )
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