Gobal Economic Outlook Looks Gloomy
Finance ministers and central bankers are on their way to Tokyo for their annual get-together sponsored by the International Monetary Fund and the World Bank. Renee Montagne talks to David Wessel, economics editor of The Wall Street Journal , about whether the financial crisis is behind us.
Found more than 1 month ago on channel NPR
Procter & Gamble plans to extend supplier bill payment cycle: WSJ
Procter & Gamble Co plans to increase the time it takes to pay its suppliers by as much as 30 days, which could free up to $2 billion in cash, the Wall Street Journal reported, citing people familiar with the matter.
Found more than 1 month ago on channel Reuters
What’s Behind the Crash in the Gold Market?
One of the more interesting phenomena to take place in the markets in recent memory has been the seemingly invincible rise in the value of gold. In the decade between 2001 and 2011, the price of gold rose from $256 per ounce to a high of $1,920 — a whopping 650% return for those lucky enough to have timed the trade perfectly. But since 2011, the gold market has shown signs of weakness, culminating in a multi-day crash that began Thursday and continued into Monday. According to the Wall Street Journal: “Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.” So what’s behind the remarkable rise in the value of gold — and what changed in recent days that ...
Attention JC Penney Shoppers, Look Out for the Return of ‘Sales Galore’
After months of abysmal sales tallies, the Ron Johnson era is over at JC Penney. Now that Johnson’s “fair and square” no-coupons pricing policies have proved to be a failure, the department store will have to try something else to win back customers and stop the bleeding. But what? Mike Ullman, who was replaced as CEO when Johnson took over at JC Penney in 2011, and who began serving again as top executive when Johnson was pushed out, told the Wall Street Journal that he wasn’t planning on reverting to the old business model. “I wouldn’t recommend that we go back to the way J.C. Penney was when I left,” he said. “Things change.” And yet, in some ways the department store is clearly trying to resemble the JC Penney of old. Management has already announced that newspaper ads will feature coupons once again. Johnson seemed to find coupon usage distasteful and silly, likening it to a drug that consumers needed to be weaned off. A little over a year after JC Penney went “drug-free,” ...
Pulitzers Awarded to Times, Journal
The New York Times won four Pulitzer Prizes while The Wall Street Journal received an award for commentary. The award for breaking-news reporting was given to the staff of the Denver Post for its coverage of the movie- theater shooting.