Business & Economics

General Motors has announced they will no longer advertise on Facebook.

GM cuts out Facebook

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/16/2012

General Motors (GM) confirmed a report by the Wall Street Journal on Tuesday, saying they will stop advertising on Facebook. The timing of the announcement comes just as the social networking giant plans to go public with its stock. NEW YORK, NY (Catholic Online) - The automaker says the ads ...

In spite of a massive $2 billion loss, as well as other accounts still left unaccounted for, Jamie Dimon will retain his jobs as chairman and chief executive of JPMorgan Chase & Co. Shareholders overwhelmingly voted him back onto the board and approving executive compensation packages.

Dimon will keep his jobs at JPMorgan Chase & Co.

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/15/2012

In spite of a massive $2 billion loss, as well as other accounts still left unaccounted for, Jamie Dimon will retain his jobs as chairman and chief executive of JPMorgan Chase & Co. Shareholders overwhelmingly voted him back onto the board and approving executive compensation packages. LOS ...

Facebook's road show was not a success, There were the expected complaints about chief executive Mark Zuckerberg's extremely casual wardrobe.

Facebook reportedly closing the books on its IPO

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/15/2012

Facebook filed a new amendment to its paperwork for its initial public offering, raising the range of its share price to as much as $38 per share, bumping its share price up from its original $29-$34 range. The price was arrived after shopping the offer around to investors. LOS ANGELES, CA ...

Be warned against the overvalued Facebook and their IPO

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/14/2012

In our current economy, the Facebook IPO is quite exciting. Mark Zuckerberg, Facebook's CEO, doesn't want to take the company public. The ownership structure allows him to have control over the business because he owns 57.1% of the Class B shares, which have 10 votes each, compared to the publicly ...

JPMorgan's Jamie Dimon during a conference call with analysts said the bank's losses on the trade are likely to increase but he didn't say how much.

$2 billion is just the beginning of JPMorgan's trading debacle

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/14/2012

According to some economic analysts, JPMorgan Chase got a pass. Investors had the attitude with the bank, as run by Jamie Dimon that they were going to be non-invasive. JPMorgan Chase knew their way around sub-prime mortgage loans, and many assumed the bank's many foreclosure problems were being ...

The losses were blamed for complex financial instruments, known as derivatives and in a division of JPMorgan designed to help control its exposure to risk in the financial markets and invest excess money in its corporate treasury.

JPMorgan Chase loses $2 billion in trading portfolio

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/14/2012

The largest bank in the United States, JPMorgan Chase has admitted that it lost $2 billion over the past six weeks in a trading portfolio. The portfolio was supposedly designed to hedge against risks the company takes with its own money. LOS ANGELES, CA (Catholic Online) - The company's stock ...

The U.S. Treasury noted China had made 'encouraging progress' on a number of issues sought by the Obama administration, including taking steps toward a more open and market-oriented financial system.

First U.S. bank taken over by China

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/11/2012

For the first time in U.S. economic history, the U.S. has cleared a takeover of a domestic bank by a Chinese state-controlled company. Shortly after high-level U.S.-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to ...

Research shows that women leave the workforce for many reasons, including child care costs, lack of workplace flexibility, and earnings disparity.

Women leaving the U.S. workforce in record numbers

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/10/2012

Many women are being stay-at-home moms today - but not entirely by choice. Unemployed women hit an all-time historical high of 53,321,000, according to the Bureau of Labor Statistics. In the past two months alone, 324,000 women dropped out of the nation's civilian labor force. LOS ANGELES, CA ...

Japan suffered more than any nation had a right to bear last year, when a 9.0 earthquake struck off the coast of Japan last March and sent a tsunami crashing into the Fukushima Daiichi nuclear power plant.

Japan to overtake China when it comes to buying U.S. debt

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/7/2012

Japan suffered more than any nation had a right to bear last year, when a 9.0 earthquake struck off the coast of Japan last March and sent a tsunami crashing into the Fukushima Daiichi nuclear power plant. There were fears that Japan would have a difficult time recovering in its place in ...

One Berkshire investor said his compatriots were much more likely to focus on succession issues for the 81-year-old Buffett than other questions like the quarterly report. 'If you boil it down, most people say: 'who's the replacement going to be,'' Harvey Eisen, chairman of Bedford Oak Advisors said.

Berkshire Hathaway more than doubles profit in first quarter

By Catholic Online (NEWS CONSORTIUM) • Catholic Online • 5/7/2012

Warren Buffett's Berkshire Hathaway has more than doubled its profit in the first quarter. In spite of natural disaster losses that hit the company a year earlier, the company's insurance business was spared. Berkshire also benefited from much higher gains in its derivatives portfolio, ...