Financial news on June 21, 2008
Business and Financial news
Antitrust investigations are so maddening that the Federal Trade Commission is likely to have a hard time getting to the bottom of the case against Intel. Read more..
The funds of the charity arm of TCI, the hedge fund that has been involved in a battle with executives at the transportation company CSX, have more than doubled in its previous fiscal year. Read more..
Barclays, which is seeking funds to replenish its capital, is said to be talking with Sumitomo Mitsui Financial Group about a cash infusion of close to a billion dollars. Read more..
Manufactured diamonds have become indistinguishable from their natural counterparts. Read more..
Michael Cohl, chairman of Live Nation, the world’s largest concert promoter, stepped down Friday after a report of a strategy dispute with the chief executive, Michael Rapino. Read more..
Mexico’s peso closed at its strongest level against the dollar in five years Friday after the Bank of Mexico raised its benchmark interest rate, citing higher inflation. Read more..
The Federal Reserve knows that its credibility as a central bank would be damaged if investors concluded it was not determined to combat the recent rise in prices. Read more..
The Dow Jones industrials fell below 12,000 as a host of options and futures contracts hit their expiration dates. Read more..
Midwest floods have washed out millions of acres of corn, and many are urging Washington to allow corn to be grown on protected land and to roll back requirements for ethanol production. Read more..