Port strike could hit retailers during the holidays
A strike by clerks at the ports of Los Angeles and Long Beach in California has shut down the key entry point for trade to and from Asia, and could lead to some shortages of hot items for retailers this holiday season.
Found more than 1 month ago on channel CNN Money
PODCAST: Layoffs at BofA, protests in India
Thursday, September 20, 2012 - 10:17 John W. Adkisson/Getty Images A woman walks by a Bank of America ATM. Bank of America has set a target of 16,000 job cuts by year-end. So says a report in this morning's Wall Street Journal. That would likely knock BofA from its spot as the biggest employer in the U.S. banking industry. U.S. initial claims for unemployment insurance fell only a bit last week -- not very comforting. More tough economic data out of Asia. Chinese manufacturing continues to contract -- fewer people are buying Chinese goods, especially in Europe. Ditto for Japan, where exports in August were down six percent from last year. There is a huge strike going on this morning in India . Schools, businesses and public transportation have been shut down as part as a protest against the government's decision to allow mega retailers like Walmart and Tesco into the country. This morning the Census Bureau put out a raft of new data for 2011. It includes the income and poverty rates from ...
CalPERS to put US$530mn in Asia real estate funds
Pensions: California Public Employees’ Retirement System is committing US$530 million to invest in new Chinese real estate funds that will invest in Asia.