Description: U.S. two-year notes had their first three-week winning streak since January as demand for the safest assets rose on speculation Europeâ€™s sovereign-debt crisis will damp growth and lead to disintegration of the euro.
Description:Â Greece was gripped by a nationwide general strike, in what is seen as a key test of the government’s ability to shepherd through tough austerity measures in exchange for a multibillion-euro bailout. Charles Forelle, Evan Newmark and Mike Reid discuss.
Source:Â Marketwatch.com â€“ video report
Â Date: 05/05/2010
Description: Theories about yesterday’s stock market swoon, where within a matter of 20 minutes, the stock market plunged by 1,000 points and then nearly completely recovered, are abounding. Fortune asked Rishi Narang, founder of the hedge fund Telesis Capital and author of Inside the Black Box, to share the theories he’s heard and handicap them in terms of likelihood and plausibility.
Description:Â U.S. regulators closed four banks holding less than $740 million in total assets as this yearâ€™s failures climbed to 68. Lenders in Arizona, California, Minnesota and Florida were closed by regulators and the Federal Deposit Insurance Corp. was named receiver, according to statements on the agencyâ€™s website. The failures cost the FDICâ€™s deposit insurance fund $213.7 million, a fraction of last weekâ€™s $7.3 billion total cost. City National Corp., the Los Angeles-based lender with $20.1 billion in assets, purchased one of the banks.
Description: Warren Buffettâ€™s Berkshire Hathaway Inc., which reported a $3.6 billion first-quarter profit last week, said gains at private flight company NetJets Inc. and railroad Burlington Northern Santa Fe bolstered results.
Description: Hewlett-Packard’s bid to gobble up Palm Inc. could shake up alliances in the personal computer industry, as other players in the sector figure out their play in a rapidly-changing smartphone arena, analysts say.
Description:Â Consumer spending grew at the fastest pace in three years during the first quarter, a sign that the largest part of the economy is gaining speed while becoming less dependent on government stimulus.