http://2blogfinance.com Financial Commentary and News from Around the World. Fri, 16 Apr 2010 14:12:02 +0000 http://backend.userland.com/rss092 en Wal-Mart surges ahead of Exxon Mobil to the top spot of the Fortune 500 The mega-retailer didn't have a whole lot to complain about in fiscal 2010. Profits were up and, thanks to its sales, the company once again climbed to the top of the Fortune 500. Same-store sales were ... http://2blogfinance.com/wal-mart-set-to-rule-the-worldalmost.html the Treasury Dept. issued its response to a blistering Dec. 10 report from the congressional panel established to oversee the agency's actions.The 13-page Treasury report broke no new ground, strongly echoing recent comments and testimony from Treasury Secretary Henry Paulson and Neel Kashkari, his deputy managing the crisis response. At ... http://2blogfinance.com/proper-treasury-actions.html It is not all rose petals and honey cake anymore, as reality sets in.  On the eve of Detroit's latest date with fate in Washington, the United Auto Workers have surrendered the union's version of corporate jets. The union is suspending its most ridiculed perk, called the JOBS bank. That program, ... http://2blogfinance.com/auto-workers-face-a-little-reality.html Big deficit looming in California forces the hand of  Arnie.  Add the Terminator to the long list of people seeking a handout from Henry Paulson. Late on Oct. 2, California Governor Arnold Schwarzenegger sent a letter to the U.S. Treasury Secretary saying he may need a $7 billion short-term loan ... http://2blogfinance.com/california-looking-for-a-7-billion-dollar-hand-out.html It was a good job and a good life until the cheap workers were brought over to take away our jobs.  For Daryl Johnson of Orange, Tex., work as a rigger on pipe-laying barges seemed like a pretty sure bet. The pay was good—$18.50 an hour—and with oil exploration booming, ... http://2blogfinance.com/cheap-oil-workers.html The number of laid-off workers filing claims for unemployment benefits showed an unexpected upswing last week although another of the key indicators of unemployment hit a four-year high.  The Labor Department reported Thursday that applications for unemployment benefits totaled 357,000 last week, some 18,000 fewer than the previous week. That ... http://2blogfinance.com/unemployment-numbers.html U.S. auto sales sank in May as consumers spurned pickup trucks and SUVs because of record gasoline prices, driving General Motors Corp, Ford Motor Co and Chrysler LLC to double-digit declines. Japan's Honda Motor Co Ltd outsold Chrysler for the first time to emerge as the new No. 4 U.S. ... http://2blogfinance.com/may-was-bad-for-automakers.html Eurozone finance chiefs warned on Friday that the 15-nation bloc faced growing risks to economic growth and inflation, but insisted there was currently no threat of a recession. EU Economic and Monetary Affairs Commissioner Joaquin Almunia also acknowledged that "downside risks have increased" since he forecast in February that the ... http://2blogfinance.com/warning-from-eurozone.html Lehman Brothers is swinging the ax. Lehman shares fell after CNBC reported the big investment bank will cut 5% of its workforce, or about 1,400 jobs. The news comes as Lehman prepares to report first-quarter results next Tuesday. Wall Street has been bracing for a round of bad news next ... http://2blogfinance.com/lemans-job-cuts.html China's biggest bank said Sunday it has received approval to buy a 20 percent stake in South Africa's biggest lender, the latest big-ticket overseas expansion by Chinese investors.  The deal between state-owned Industrial & Commercial Bank of China Ltd. and Standard Bank Group Ltd. is one of China's biggest foreign ... http://2blogfinance.com/big-move-for-e-c-bank-of-china.html