Wall Street rises as earnings lift markets to yearly highs
Stocks climbed to year highs as earnings reports boost confidence in a quicker economic recovery. The Dow added 96.28 to 10,092.19, the S&P 500 rose 10.23 to 1,097.91, and the Nasdaq composite increased 19.52 to 2,176.32.
IBM executive placed on leave amid insider trading charges
IBM Corp. placed senior vice president Robert Moffat on leave after he was charged in an insider trading scandal for allegedly leaking earnings and partner dealings. Moffat, once a possible successor to CEO Sam Palmisano, no longer serves as an officer. The New York Times to cut newsroom by 8 percent, offering voluntary buyouts before possible layoffs to reach a 100-job reduction.
MENTIONED IN THIS ARTICLE
IBM Corp
IBM
Robert Moffat
Maven
Sam Palmisano
The
New York Times
Bill Keller
the Times
New York Times Co
Oil and gas prices rise as demand remains weak
Oil prices climb with demand still soft as gasoline averages rise for six straight days, topping $2.50 per gallon for the first time in weeks. Benchmark crude for November delivery gains $1.08 to settle at $79.61 on the NYMEX, with refined products likely to reflect crude costs.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
Toys R Us rolls out layaway for big holiday items
Toys R Us Inc announces an immediate layaway program for larger purchases such as bikes and cribs ahead of the holidays. The move revives a once common option after a period of decline, following Sears and Kmart expanding layaway with an online option this year.
MENTIONED IN THIS ARTICLE
Toys R Us Inc
Sears
Kmart
Higher jobless rates could be the new normal
Washington economists warn the 7.2 million jobs shed since December 2007 may never return. A weak recovery could persist for years as auto and construction engines falter, banks limit lending, and spending stays subdued. The Great Recession marks an inflection point with permanently higher unemployment anticipated.
MENTIONED IN THIS ARTICLE
Washington
U.S
Detroit
Mark Zandi
Moody’s Economy.com
New York
Mount Vernon shop owner moves after flood keeps Czech presence
Czech Feather & Down Co owner Vanous relocated after a 9 foot flood damaged her Mount Vernon shop in Czech Village. She now runs from three sites: her store, Deda & Babi Antiques in Czech Village, and Amana Woolen Mill, linking with SCORE to produce and sell feather pillows and crafted goods. The arrangement preserves ties to Cedar Rapids area heritage and highlights sustainable, long lasting products.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette
Vanous
Marion
Cedar Rapids
Mount Vernon
Dawn Schorg
Linn County
Amana Woolen Mill
SCORE
Service Corps
Germany
Amana
Feather & Down
Czech Village
Deda
Crystal LoGiud
Cookie Vanous
Czech Feather & Down Co
Deda & Babi Antiques and Collectibles
First St. W
Bernanke urges deficit cuts as global imbalances loom
Fed chair Ben Bernanke urged the United States to shrink its record deficits and called on surplus countries such as China to boost domestic consumption. He linked deficits to global imbalances and said reducing the federal shortfall is the best path to higher savings, while noting the difficult fiscal situation facing Congress and the White House. He spoke at a Santa Barbara Fed conference after the 2009 deficit totaling 1.42 trillion dollars and amid G20 pledges to curb global imbalances.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Ben Bernanke
United States
China
Bernanke
Fed
Santa Barbara
Calif
U.S
Group of 20 Nations
Pittsburgh
Ation
Congress
White House
Iraq
Afghanistan
Asia
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Wall Street
Toys R Us
George Ford
Gazcomm.com