American Morning

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December 9th, 2011
08:29 AM ET

AM Minding Your Business for Dec. 9, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

* Most European leaders have agreed to a deal to solve Europe's debt crisis - even though Britain refused to sign on. The treaty will only apply to countries that use the currency along with six others that wish to join the Euro one day. The news is sending U.S. stock futures as well as European markets higher.
* The majority of European Union leaders agreed to funnel an additional $267 billion to the IMF to boost its bailout funds.
* Wal-Mart has launched a investigation into possible acts of corruption by employees. In a filing with the Securities and Exchange Commission - the world's biggest retailer says its trying to uncover whether workers bribed foreign officials to win business.
* Ford Motor Company is reinstating its dividend for the first time in five years. The move coming after years of debt and painful restructuring. But by the end of the first quarter, Ford will pay shareholders 5 cents per share. Ford was the only U.S. automaker to avoid a federal bailout and bankruptcy reorganization.
* Twitter is getting a new look. The revamped layout is meant to attract new users, keep them on the social network longer and attract more advertisers. You can peview the new design if you have the twitter app on your smartphone. The twitter site should be updating over the next couple weeks.
* According to a new survey, 36% of people plan to buy gifts for themselves this holiday. That's up from 29% last year. And shoppers say they plan to spend about $130 on themselves to be sure they get what they want.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Minding Your Business
December 5th, 2011
07:25 AM ET

AM Minding Your Business for Dec. 5, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

*European Markets are up overnight after Italy's new prime minister Mario Monti unveiled new austerity measures. Italian borrowing costs are falling this morning – a sign of confidence from investors that the country is moving in the right direction to balance its budget.

*Brent crude prices are above $110 dollars a barrel this morning. Brent crude is the type of oil that most use in Europe. It would take a big hit if the region decides to slap Iran with oil sanctions because of the country's nuclear aspirations.

*Gas prices are down nine cents in the past two weeks, despite an increase in crude oil prices. The weekly Lundberg Survey says the drop is because of lower demand due to hard economic conditions. The average price for regular gas is currently $3.29 per gallon.

*The latest Twilight movie -Breaking Dawn, Part I – had another big weekend at the box office. After topping sales for the third weekend in a row, the vampire movie has now brought in more than $247 million dollars so far in the U.S.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Business • Minding Your Business
December 2nd, 2011
07:20 AM ET

AM Minding Your Business for Dec. 2, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

* The all-important November jobs report comes out this morning at 8:30am ET. Economists are forecasting that about 110,000 jobs were added to the economy last month. The unemployment rate is expected to remain at that stubbornly high 9 %.
* U.S. stock futures are right now trading higher after a minor pull back yesterday. The Dow and broader S&P 500 closed down slightly. The Nasdaq was up.
* There's potential relief on the way for homeowners facing foreclosure. Mortgage giants Fannie Mae and Freddie Mac are putting foreclosures on hold during the holidays. We should note this only applies to mortgages held or controlled by Fannie and Freddie.
A number of banks have also said they would suspend evictions during the holidays.
* General Motors announcing it will buy back a Chevy Volt from any driver concerned about his or her safety. The move follows a federal investigation into possible post-crash fires started by the Volt's battery. GM also conceding it won't sell the 10,000 Volts it hoped to sell in 2011.
* The auto industry posting its best month for sales since the cash for clunker's program in 2009. And those gains were led by U.S. carmakers. Chrysler is reporting its sales soared 45% from a year ago. GM reporting sales up nearly 7% from a year earlier, while Ford was up 13%.
* If you've used Ticketmaster in the past 12 years, you could be getting some money back! According to the Business Insider, a proposed class action settlement asks tthe ticket website to refund the $1.50 it charged for every ticket purchased between October 1999 to October of this year. It's all because customers caught on to the fact Ticketmaster was profiting from the processing fees.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Minding Your Business
December 1st, 2011
07:33 AM ET

AM Minding Your Business for Dec. 1st, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

* Wall Street's rally on Wednesday is losing a little steam this morning. European markets are mixed and U.S. stock futures are lower today. It's all because of the move by the major central banks to ease the flow of dollars into the global financial system
* The global rally is pushing commodity prices up across the board. Oil is now over $100 a barrel for the second time in almost six months. Experts tell CNNMoney that this time, prices may actually keep climbing because of the global economic intervention.
* This morning, we'll get a fresh read on the employment situation in this country. The initial jobless claims report is expected to show that 390,000 unemployment claims were filed for the first time last week. If that's true - it would be a good sign for the labor market.
* More than 99,000 Americans could get a nice check just in time for the holidays. The IRS says it's sitting on $153 million in unclaimed refund checks because people didn't update their addresses. If you think you're entitled to a refund - just head to IRS.gov and click on "where's my refund".
* The maker of Blackberry says it's looking into allegations hackers were able to jailbreak the Playbook tablet - a claim that could threaten Research in Motion's reputation for making devices with tough security. Apple and Google's operating systems are routinely attacked by users who want to run unauthorized programs - but breaches of Blackberry's software are more rare.
* Warren Buffett is still betting on newspaper. Berkshire Hathaway just announced plans to purchase the Omaha World-Herald company, which owns his hometown newspaper and several other papers in Nebraska and Iowa. Buffett's firm already owns the Buffalo News and has a stake in the Washington Post Company.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Minding Your Business
November 30th, 2011
08:17 AM ET

AM Minding Your Business for Nov. 30, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

* The top 6 largest banks in America - JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, and Wells Fargo - were all downgraded by ratings agency Standard and Poor's late last night. S&P says the new ratings are based on a new evaluation of the banks' strengths and weaknesses.
* Right now, U.S. stock futures are surging. We're just reporting now that world banks are now taking steps to support the global financial system. More news throughout the day.
* The Federal Reserve officials are warning the global economy is still facing critical challenges like Europe's debt crisis and America's housing market.
* The Federal Communications Commission is slamming AT&T, saying it presented flawed information about its proposed merger with T-Mobile.
* Facebook is settling with the feds over allegations it failed to protect members' private information. The social network has agreed to go through a privacy audit every two years for the next 20 years.
* You could soon own a piece of the Empire State Building. The folks that own the New York City landmark have reportedly filed papers to create a publicly traded company that would allow people to invest in the world famous skyscraper and other new york properties.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Minding Your Business
November 29th, 2011
08:14 AM ET

AM Minding Your Business for Nov. 29, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

* Breaking news this morning: AMR, the parent company of American Airlines, has filed for bankruptcy protection. The decision comes after the airline was unable to secure cost-cutting labor agreements. The airline says it will still honor all tickets and reservations.
* Right now, U.S. markets are on track to extend yesterday's rally. The Dow, Nasdaq and S&P 500 futures are trading higher.
* Markets are up in Europe this morning as investors are optimsitic that leaders will get it together and fix the region's debt problems. This even after an ominous warning out from Moody's. The ratings agency says the current debt crisis is threatening the credit worthiness of every nation in the European Union as well as more than a dozen of the region's largest banks.
* There's new evidence that Washington's inability to reach a debt deal is going to hurt all Americans. The credit rating agency Fitch affirmed America's AAA credit rating but revised its outlook to negative. That change means the agency sees a greater than 50% chance it will downgrade the country's AAA rating within two years.
* Cyber Monday turned out to be more popular than ever this year. Early estimates from IBM show sales were up 18% from a year ago. Another research firm predicts customers spent around $1.2 billion dollars yesterday.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Minding Your Business
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