ALL BUSINESS: Cash is king for investors
That old saying "cash is king" certainly rings true these days. Investors can't seem to get enough of it, which ultimately could be bad news for the stock market and the economy.
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The Saturday Evening Post, a centuries-old publication that helped make illustrator Norman Rockwell an American icon and showcased some of the greatest U.S. writers, is returning to its roots to show readers the value of a quiet read in an increasingly frenetic digital age.
That old saying "cash is king" certainly rings true these days. Investors can't seem to get enough of it, which ultimately could be bad news for the stock market and the economy.
The economic downturn is allowing Malaysia's leader to chip away at an affirmative action program for Malay Muslims that has been considered virtually untouchable in the past.
President Hugo Chavez's government assumed control of Venezuela's third-largest bank on Friday - making the state the largest player in the nation's banking system.
British Airways PLC announced Friday it will ground aircraft, slash seat numbers and postpone taking delivery of a dozen new Airbus A380 superjumbos as it faces a recession-driven decline in passengers.
Cummins Inc. is recalling 400 laid-off workers as it resumes production at a Columbus factory, while nearly 300 people lost their jobs as an auto parts company idled a plant in nearby Shelbyville.
Malt-O-Meal Co. is voluntarily recalling oatmeal that contains instant nonfat dry milk that may be contaminated with salmonella.
General Motors Corp. may have to wait out the long holiday weekend to learn if its bankruptcy plan is moving forward, after U.S. Judge Robert Gerber adjourned a three-day hearing without indicating when he will rule on GM's plan to sell its good assets to a new company.
Oil prices hovered above $66 a barrel Friday in light holiday trading a day after grim unemployment numbers from the U.S. and Europe sent prices tumbling.
Mining company Teck Resources Ltd. said Friday it is selling a 17 percent stake to China Investment Corp. for 1.74 billion Canadian dollars ($1.5 billion) in a bid to reduce its debt.
Colin Daymude was out of work last year after his business failed and eagerly filed his taxes in mid-January, figuring he'd get his refund sooner. He was wrong.
HealthSouth Corp. is accusing fired chief executive Richard Scrushy of hiding money in offshore bank accounts and transferring assets out of his name to avoid paying court judgments.
Canada's finance minister said Friday that the country's economic recovery will likely be modest and job losses will mount into 2010 even after growth has begun.
Casket makers catering to natural burials have offered biodegradable coffins made of such materials as recycled newspapers or cardboard. Ecoffins USA, based in Montrose, Colo., is selling caskets made of banana sheaves.
Tomato plants have been removed from stores in half a dozen states as a destructive and infectious plant disease makes its earliest and most widespread appearance ever in the eastern United States.
European stock markets traded in a narrow range Friday as investors caught their breath after big losses the day before on U.S. jobs data. Wall Street's closure for the Independence Day holiday kept trading volumes exceptionally light.
PVM Oil Associates, the world's biggest over-the-counter oil brokerage, says it lost nearly $10 million this week because of unauthorized trades that caused a temporary spike in Brent crude markets.
By all accounts, Shiner beer shouldn't have made it this long. The Spoetzl Brewery ferments its brew in a one-stoplight town that's not on the way to anywhere, and much larger regional brewers long ago succumbed to consolidation and the muscle of national brewers.
Her fellow job seekers offer knowing groans as Diane Castro recalls the day she was laid off: The fear of being summoned to the front office. The phones in nearby cubicles going off like grenades. Finally, a ring at her desk.
The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt.