The Canadian dollar has hit a new 13 year all time high after a report that was released reporting an increase in jobs. This is the strongest rally to happen since March, pushing the currency up to 85 cents. A total of approx. 27,500 jobs were added by employers while unemployment rate maintained holding near […]

Biogen Idec, a pharmaceutical company located in Cambridge, MA has announced late today that it plans to cut 650 employees, equal to 17% of its workforce in order to generate additional revenue equal to $200-$300 million dollars yearly, according to Biogen’s CFO Peter Kellogg. The company plans to invest the money into its pipeline […]

Microsoft Corporation and Google, Inc. faced each in court on Tuesday over whether or not a Microsoft chinease executive would be working for Google. Microsoft basically wants to stop the former VP of Microsoft Kai-Fu Lee moving into working for Google. Attorneys backing up Microsoft said that Lee violates his contract due to the fact […]

On Friday the Labor Department has said that the nation’s unemployment rate is down 4.9%, a new 4-year low and U.S. employers in August have added 169,000 job positions. Wall Street treated this news as ancient history due to the fact that there are alteractions to the nation’s economic landscape by Hurricane Katrina.
The likelyhood of […]

Mastercard, the world’s #2 credit card provider has announced that it plans on going public sometime early next year (possibly during the 1st quarter). Master Card plans to issue Class A common stock shares through its IPO to public investors. Shareholders will own approx. 49% of Mastercard’s equity and have 83% of its voting rights. […]

Spring Nextel mobile phone company announced today that it plans on purchasing two small cell phone operators that provide Sprint Service, which is scheduled to add an additional 332,000 subscribers to the newly merged company.
The agreement: Spring Nextel will pay $219 million dollars to acquire IWO Holdings, Incorporated (located in Albany, NY) which will […]

This morning, Intelsat annoucned that it made an agreement to acquire PanAmSat Holding Corporation for $3.2 billion dollars (or $25/share) in order to establish a satellite company with an expanded delivery that includes: government, corporate data, and video content.
When both of these companies are combined, the estimated annual revenue is expected to hit more than […]

Verizon said today that it expects to provide the first local carrier in offering high speed data access to both laptop and mobile phone users throughout the region. The name of the network will be known as: “EV-DO”, which will allow users to reach speeds similar to DSL lines on both their phones and laptops.
The […]

Many people have been chosing to invest their money into 401K because of the benefits of income tax cuts, as it is excluded from taxable income. Starting January 1, 2006, employers will have an option of providing a new kind of 401k plan to its employees, that lets you give up the same immediate income […]

Greenspan has made some comments during his speech in Wyomong regarding the recent housing boom and said that prices may fall. Greenspan suggests that economy growth would slow down, urging investors that asset prices may also drop. So what will be the result of the housing slow-down?
Consumers are likely to take out less home […]