Archive for February 7th, 2012

AP – It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession.
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Unlike an older vaccine, the newer rotavirus vaccine doesn’t appear to increase the risk of a dangerous intestinal side effect, according to a large new study. The vaccine has been responsible for a substantial reduction in deaths from rotavirus worldwide. » E-Mail This     » Add to Del.icio.us
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Reuters – Below are highlights from Federal Reserve Chairman Ben Bernanke’s testimony on Tuesday on the state of the U.S. economy to the Senate Budget Committee. Bernanke’s prepared testimony was virtually identical to testimony on Thursday to the House Budget Committee.
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Companies and governments posted 3.38 million jobs in December, the Labor Department said. That’s up from the 3.12 million advertised in the previous month and nearly matches the three-year high reached in September. » E-Mail This     » Add to Del.icio.us
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Reuters – Swiss bank UBS posted a loss at its investment bank and warned that the unit’s poor performance would also affect first-quarter results as the euro zone debt crisis and worries about the health of the U.S. economy hurt business.
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Financial writer Philip Coggan traces the current global financial crisis to the 1970s when the U.S. went off the gold standard. In his book Paper Promises, Coggan says governments will have to choose whether to keep their promises to their creditors or to their citizens. » E-Mail This     » Add to Del.icio.us
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pimg style=float:right; src=http://static7.businessinsider.com/image/4f30578deab8ea833c00003e/andrew-lo.jpg border=0 alt=andrew lo //ppEver thought you would have to read 21 books to get to the bottom of what caused the financial crisis?/p pa href=http://mitsloan.mit.edu/faculty/detail.php?in_spseqno=SP000079Andrew Lo, an economist at MIT/a, has some bad news: it’s going to take at least 22./p pLo, a leading expert on hedge funds and financial engineering,...
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AP – Targeting Iran’s economy, the U.S. ordered tough new penalties Monday to further pinch the country’s financial system and encourage Israel to give sanctions more time before any military action against Iran’s nuclear program.
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The defeat of a peace plan at the U.N. and the closure of the American Embassy in Damascus represent the latest blows to attempts to use diplomacy to end the violence in Syria. » E-Mail This     » Add to Del.icio.us
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