money

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And He's Not Going to Take It Anymore

'Mad Money' madman Cramer snaps, beseeches Bernanke to cut rates

(Newser) - In YouTube's most watched video today, CNBC's Jim Cramer blasts Fed chairman Ben Bernanke for signaling that he won't cut interest rates, calling the present stay-the-course market situation "Armageddon." As his dumbfounded interlocutor looks on, the "Mad Money" host pounds the table and thunders that the "...

A Million Here, a Million There ...

... and before long, some Silicon Valley hotshots are feeling pretty average

(Newser) - Millionaires are a dime a dozen in Silicon Valley, where a seven-digit net worth was once a ticket to the good life. Today, lower-level millionaires have to clock 12-hour workdays just to stay afloat. The Times reports on some living embodiments of "be careful what you wish for."

For Fast Recruits, a Fast $20K
For Fast Recruits, a Fast $20K
Aug 5, 2007 12:23 PM CDT

For Fast Recruits, a Fast $20K

"Quick Ship" bonus meant to remedy enlistee shortage

(Newser) - An understaffed Army is testing out a tidy bonus to entice enlistees who agree to ship out to basic training within 30 days of signing up. The Army will be offering the $20K "Quick Ship" bonus until September to try and reach an increasingly ambitious recruiting goal of 80,...

GM&rsquo;s Quarter Is Twice as Nice
GM’s Quarter Is Twice as Nice
Jul 31, 2007 10:02 AM CDT

GM’s Quarter Is Twice as Nice

Carmaker more than doubles estimates, beats Toyota in sales for quarter

(Newser) - General Motors scored a breakout second quarter, more than doubling earnings estimates and turning a profit of $891 million, compared to a loss of $3.4 billion a year ago, Bloomberg reports. GM made money in three out of four regions globally, and nearly broke even in the recently treacherous...

Minimum Wage Rises Today
Minimum Wage Rises Today
Jul 24, 2007 7:09 AM CDT

Minimum Wage Rises Today

Federal law mandates 70-cent hike to $5.85, calls for boosts next year and in 2009

(Newser) - After being frozen for a decade, the federal minimum wage jumps today from $5.15 to $5.85 an hour. It rises to $6.55 a year from today and to $7.25 when the hike is completed in 2009. The change affects only the 20 states that haven't already...

The Top 10 Investors
The Top 10 Investors
Jul 18, 2007 5:16 PM CDT

The Top 10 Investors

A look at the individuals who are changing the way money changes hands

(Newser) - Not only are these investors sitting on mountains of doubloons—a sure sign of financial savvy—but they have also changed the way people think about money and investing.
  1. John Bogle, founder, the Vanguard Group. Now president, Bogle Financial Markets Research Center.
  2. Warren Buffett, CEO and chairman, Berkshire Hathaway.
  3. David
...

Pound Soars Against Dollar
Pound Soars Against Dollar
Jul 4, 2007 1:24 PM CDT

Pound Soars Against Dollar

Sterling passes $2.02, raising hopes and filling coffers

(Newser) - The British pound climbed against the dollar today to a level not seen since June 1981, nudging past $2.02 before closing at $2.0136. The third consecutive trading session with a 26-year high came as the UK braced for a interest rate hike and the US braced for an...

Mo$cow: World's Priciest City
Mo$cow: World's Priciest City
Jun 18, 2007 4:29 AM CDT

Mo$cow: World's Priciest City

London second, Seoul third in worldwide survey

(Newser) - Moscow is the world's most expensive city for expats, according to an annual human resource study. A cup of Muscovite coffee can run more than $6, and lodging in the Russian capital can send foreign workers from rubles to rags. London placed in the survey, which compared costs of living...

Texas Builds an Ultimate Archive
Texas Builds an Ultimate Archive
Jun 17, 2007 4:00 PM CDT

Texas Builds an Ultimate Archive

(Newser) - Start with 48 Gutenberg Bibles—yes, count 'em, 48. Move on to the corrected proofs of Joyce's Ulysses and then to part of Kerouac's original manuscript for On the Road.  Then finish up with Woodward and Bernstein's Watergate notes. These items and much, much more are in the Harry...

Dutch Do Pensions Right
Dutch Do Pensions Right
Jun 15, 2007 2:00 PM CDT

Dutch Do Pensions Right

The US should read up on Social Security in the Netherlands, reports Time

(Newser) - Governments around the world are stuck between tightfisted Anglo-American pension plans that pay only a fraction of one's past salary, and extravagant European-style social security that ends up welshing on the payments. But the Dutch have struck a balance that's working, reports Time, as sufficient amounts of money are saved...

100 Biggest Celebrities
100 Biggest Celebrities
Jun 15, 2007 10:39 AM CDT

100 Biggest Celebrities

New Forbes list is full of ‘biggest-ever’s

(Newser) - Forbes’ new list of the 100 most powerful celebrities is packed with broken records, including the highest-grossing athlete (Tiger Woods: $100M in the past year), the highest-grossing concert tour (The Rolling Stones: over $400M in sales) and the highest-paid film role (Johnny Depp: $92M for Pirates II). But the ubiquitous...

Paulson Resists Labeling China a 'Manipulator'

Congress stews as Beijing keeps yuan weak vs. dollar

(Newser) - Treasury Secretary Henry Paulson has denied congressional requests for a formal accusation of currency manipulation against China, the Wall Street Journal reports. China's tight restrictions have kept the yuan artificially low against the dollar for decades, but recent record highs, combined with signs that Beijing may plan to let up...

Dow Falls as Bond Yields Soar
Dow Falls as Bond Yields Soar
Jun 13, 2007 7:13 AM CDT

Dow Falls as Bond Yields Soar

Record high yields threaten higher mortgage rates

(Newser) - US bond yields have hit a five year high—bringing the threat of higher interest rates, costlier home mortgages and a slowing economy, the Wall Street Journal reports. The benchmark 10-year Treasury note rose to 5.25 per cent yesterday. Rising bond yields echo throughout the economy, making stocks less...

Next World Bank Prez Meets World
Next World
Bank Prez
Meets World
Jun 5, 2007 11:33 AM CDT

Next World Bank Prez Meets World

Zoellick begins circuit to meet and greet bank's poorest clients

(Newser) - Former trade rep Robert Zoellick embarked on a world tour yesterday, in advance of his likely ascension to president of the World Bank this month. Zoellick will stop in Africa to visit the bank's largest beneficiaries, and Europe to schmooze with its largest donors. "I want to leave no...

$100 Million Here, $100 Million There...

U of I gets second huge gift in as many days to Illinois universities

(Newser) - And, as Illinois' late Senator Everett Dirksen once said, you are talking about real money. Tom Siebel, University of Illinois graduate and founder of Siebel Systems, a customer management relationship software firm, pledged $100 million in his will to the U of I.

US Intelligence In Private Hands
US Intelligence In Private Hands
May 31, 2007 8:00 AM CDT

US Intelligence In Private Hands

Billions a year spent on private intel contracts—but where's the money going?

(Newser) - Since 9/11, the US government has been upping spending on private intelligence contractors, doling out cash that is often classified and impossible to trace, Salon reports. 70% of all classified intelligence spending goes into private hands, making waste and corruption serious concerns.

Chinese Stocks Plummet After Trading Tax Tripled

Move aimed at containing market bubble; could trigger serous sell-off

(Newser) - Chinese stocks plummeted today, after the finance ministry tripled a tax on trades in an effort to deflate a worrisome stock market bubble. A week ago, the ministry publicly pledged not to raise the tax. The reversal opens the government to heavy criticism if it triggers a serious rout.

Top Executive Salaries Soar
Top Executive Salaries Soar
May 25, 2007 8:00 AM CDT

Top Executive Salaries Soar

Gap between the CEO and the cubicle is wider than ever

(Newser) - The top bananas of the corporate world are taking in more income in relation to their immediate subordinates than ever before, the Times reports. Wealth is concentrating among the business elite but staying somewhat stagnant among more middling execs—the average gap between #1 and #3 has more than tripled...

Men No Longer Doing Better Than Their Fathers

Study shows American men in their 30s earning 12% less than dads did study,

(Newser) - American men in their 30s are doing worse than their fathers did financially, a change from just 10 years ago and a reversal of the expectation that each generation will exceed the success of their parents. In 2004, the median income for a man in his 30s, adjusted for inflation,...

Congress Hikes Minimum Wage
Congress Hikes Minimum Wage
May 25, 2007 5:08 AM CDT

Congress Hikes Minimum Wage

National minimum goes to $7.25 by 2009, small business gets tax breaks

(Newser) - Congress has raised the national minimum wage for the first time in 10 years, from $5.15 to $7.25 per hour. The hike, part of a compromise between the White House and Congress over Iraq funding, will take effect in three stages over the next two years. It will...

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