Ferrari will unveil its fastest street car ever at next month’s Geneva Motor Show.
Netflix’s key contract with Starz expired on Tuesday, causing a massive hit to its instant streaming catalog of movies and TV shows.
While stocks ended slightly lower, Wednesday’s biggest market moves were in the bond, commodity and currency markets — with 10-year Treasury yields surging higher and the price of gold, silver and the euro dropping dramatically.
It was a very good year for Stephen Schwarzman.
The euro is “The Artist” of currencies. It’s winning raves and is the feel-good hit of the season! Don’t laugh, but the euro has quietly (get it?) enjoyed a nice bounce in the past few weeks. It’s up about 6% versus the dollar since mid-January.
Microsoft gave consumers their first opportunity to download and play around with the company’s new Windows 8 operating system.
Hybrid vehicle maker Bright Automotive has announced plans to close, blasting the Department of Energy for failing to finalize a loan that the firm says would have kept it afloat. In a letter dated Tuesday to Energy Secretary Steven Chu, Bright CEO Reuben Munger and COO Mike Donoughe said they were withdrawing their application for a $314 million loan and winding down their operations. The executives claimed they had been strung along for the past few years as the government insisted on increasingly stringent loan requirements. “The actions — or better said ‘lack of action’ — by your team means hundreds of great manufacturing and technical jobs … and thousands of indirect jobs in Indiana and Michigan will not see the light of day,” the letter said. The Indiana-based company was founded in 2008 and had developed a prototype for a plug-in hybrid van, but had not yet begun manufacturing. Energy Department spokesman Damien LaVera said the two sides could not come to an agreement “on terms that would protect the taxpayers.”
Federal Reserve Chairman Ben Bernanke headed to Capitol Hill Wednesday to give Congress his semi-annual report on the economy, and what he had to say wasn’t exactly rosy.
Lower profits and layoffs resulted in Wall Street bonuses falling by nearly $3 billion last year to their lowest level since the 2008 financial crisis.
Want to become a landlord in one of the nation’s hardest-hit foreclosure neighborhoods? Well, Uncle Sam has a deal for you.