Home » Archive for December, 2012

Here Comes the Dairy Cliff

Lawmakers have not yet solved the fiscal cliff and now they have to face the dairy cliff. In 2013, the price of milk could double to as much as $6 to $8 per gallon from the current price of $3.75. Congress failed to agree on a new farm bill, which is normally renewed every five years. They need to pass one before the current law expires on January 1. When this happens, the rules governing dairy price will go back to legislation adopted in 1949. This would force the government to buy milk at higher prices. Once this happens, other market prices would... 
 

Anti-Clotting Drug Approved by FDA

Eliquis, the anti-clotting drug by Bristol-Myers Squibb and Pfizer was approved on Friday by the U.S. Food and Drug Administration. The FDA approval had been long anticipated by many cardiologists and is considered the next blockbuster for Bristol-Myers, which will be in charge of manufacturing the new drug, while Pfizer will market the new drug. The drug was approved by the U.S. regulatory agency for use in lowering the risk of stroke and blood clots in those who have arterial fibrillation, an arrhythmia in the heart that afflicts millions throughout... 
 

Markets Continue to feel effects of Fiscal Cliff

Friday will be another day of wait, see and worry for investors on Wall Street and around the world. Lawmakers continued to attempt to find the solution to the fiscal cliff that will arrive in just four days. Stock futures in the U.S. were lower on Friday as fears increase over the impact of the cliff, if no deal is reached. President Obama along with leaders in Congress will discuss the current impasse in negotiations on Friday at a meeting in the White House, while the House of Representatives are scheduled to return to work on Sunday. If a deal... 
 

Home Prices Increase More than Estimate

Home prices in the United States increased more than forecast in October. This is a sign that the real estate market is rebounding to help improve the nation’s economy for the first time in seven years. The S&P/Case-Shiller index of property values in 20 cities increased 4.3 percent compared to October 2011. This was the biggest 12 month advance since May 2010. The average forecast of 30 economists in Bloomberg poll saw a 4 percent increase. Property values went up due to the record low mortgage rates, growing population and improved economy... 
 

Holiday Shoppers Discourage Investors

On Wednesday, in light trading, stocks were down for the third straight day thanks to the ongoing anxiety over the possible budget cuts, increase in taxes and the less than anticipated holiday retail sales figures. Trading was very light following the Christmas Day holiday, with the volume below this year’s daily average. Many of the senior traders remained on vacation and major markets across Europe were closed for the holiday on Wednesday. A number of investors announced concerns over the ongoing fiscal cliff negotiations that look to be at... 
 

Blackberry Maker Sees Stock Drop

Research In Motion, the Canadian based manufacturer of the Blackberry smartphone, announced a decision to end certain service fees for users, which threatens its most profitable income source. Following the announcement, RIM stock dropped significantly ending a rally the stock had enjoyed for three months. Those subscribers who have requested enhance services, which includes more security, will remain paying a monthly service fee, while others who have opted for other plans not using those types of services will generate little if any revenue from... 
 

RIM to Change Service Fees for BB10

Research in Motion doesn’t have a commanding presence in the Enterprise market like it used to in the past. It is set to switch from a one-size-fits-all approach to enterprise services to tiered services offerings. For enterprise consumers, it would mean more flexibility to select services that they need in their businesses. Some clients might still pay the same service fees they pay at present. Others might pay a lot less or even nothing at all. RIM CEP Thorsten Heins made the announcement during the release of the company’s third quarter financial... 
 

New Smartphone Being Designed by Motorola and Google

Engineers from Motorola have been hard at work trying to complete the design of a new and sophisticated mobile handset that inside the company is known simply as “X Phone.” Nevertheless, the new unit recently purchased by Google has encountered problems and has had roadblocks to overcome in its attempt to give stronger competition to both Apple and Samsung, said insiders. Seven months ago, Motorola was purchased by Google for $12.5 billion and is amidst the design of its leading handset that features new cutting edge designs to help it stand... 
 

Pinnacle Entertainment to Acquire Ameristar Casinos

Pinnacle Entertainment owns several casinos in Louisiana. It agreed to buy Ameristar Casinos for $869 million. The deal would give Pinnacle a casino each in Mississippi and in Louisiana. The deal has already been approved by both operators’ boards. It is expected to close in the third quarter of 2013. Aside from Ameristar’s eight casinos, Pinnacle will also get $1.9 billion in debt and $116 million in cash on hand. This would bring its total enterprise value to $2.8 billion. It would make Pinnacle Entertainment more than double its size. Pinnacle... 
 

Arab Women Represent only 20% in Entire Female Work Force in Israel

Since 1970, the amount of Arab women in the Israeli work force has increased by 50%, but just 20% are employed today. That is less than one third of the rate for Jewish women and well below the 72% rate for Arab men, said a Tel Aviv University professor. In 1970, only one tenth of the Arab women of working age held down a job, compared at that same time to 30% of Jewish women. Currently, the participation in the labor force of Israeli-Arab women is less than in Muslim nations like Oman and Iraq. Amongst Arab women who have a university degree, there... 
 

Foxconn Invests $200 Million in GoPro

Manufacturing giant Foxconn from Taiwan, which is best known for all the contract manufacturing they perform for Apple products has announced it will purchase a stake worth 9%in GoPro, a camera maker that had been an industry buzz. The investment in GoPro by Foxconn will total $200 million, which makes the estimated value of the business $2.25 billion. The camera company is privately held and makes durable, waterproof cameras for many people who participate in extreme sports use and recently has been rumored to be gearing up for a spring IPO. Foxconn... 
 

Profits at FedEx Fall

FedEx announced on Wednesday that its profits had dropped 12% during their fiscal second quarter. However, the drop was not as much as investors had feared as the shipping company struggled for better results in the airfreight sector of its business. The demand for air express shipments had dropped since many customers have turned to methods that are slower and on the ground that cost less to have their goods delivered. The fall off in those shipments however were offset by a stronger than expected increase in the segment of the company that uses... 
 

Samsung to Become Top Maker of Phones Worldwide

South Korea based Samsung Electronics has overtaken Nokia, the Finnish phone maker, for just the time since 1998 as the world’s top maker of phones for 2012. At year’s end, Samsung will account for close to 29% of all shipments of mobile phones across the globe. That is 8% higher than last year when the electronics giant had a market share of 21%. With their 21% last year, Samsung was second to Nokia. The fastest growing segment of the mobile handset market is smartphones, as they now are nearly 50% of all wireless handset devices that are... 
 

Nielsen to Acquire Radio Ratings Arbitron

The way of measuring ratings is now a bit smaller. Nielsen has measured ratings for television for a number of decades and announced it has now acquired Arbitron, the giant in radio ratings in a deal estimated to be worth over $1.26 billion, said company officials early Tuesday. One company will now have the ratings measurement for the country’s two most popular mediums. Nielsen measures platforms that are digital as well. Nielsen announced it would be acquiring all of the outstanding shares of common stock for Arbitron for the price of $48 a... 
 

Craft Beer Troubles are Brewing

Craft brewers are unhappy that megabrewers Molson Coors and Anheuser-Busch InBev are using the term craft beer. A-B said that Budweiser is a craft beer. On the other hand, Coors is trying to change the marketing on its Silver Bullet to suggest that a brewmaster stirred a copper kettle to make it. The Brewers Association slammed the giant breweries for trying to pass themselves as small craft shops. They pointed out that A-B and SABMiller control 75 percent of the beer market. The association said that just because they make small-run beers doesn’t... 
 
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