The dollar will decline this year as the Federal Reserve keeps the interest rates near to zero and the fiscal deficit stays close to record despite the extension of Bush-era tax cuts, the JPMorgan Chase & Co said. John Normand, the head of currency strategy at JPMorgan London, said that dollar will drop about 12 […]

The number of workers hired in the last month of the 2010 was notably lesser than expected amid the surprising fall in the unemployment rate to its lowest record for nearly two years. The decline in the jobless rate was due to the fact that people are giving up their search for work. The unappealing […]

Clients of Goldman Sachs Group Inc who are thinking of buying shares in the closely held social networking site, Facebook Inc. should pay attention for Wall Street’s most profitable firm might release its own holdings without any warning. The firm, in its one-page investment profile that was sent to private wealth clients, said in the […]

A blizzard that hit the Northeast on Sunday and Monday cost retailers $1 billion in sales according to the recent estimates done by the shopper-traffic counting technology data analysis company, ShopperTrak. ShopperTrak also found that the foot traffic recorded on December 26 was 11.2% down from what they had previously forecasted as reported by CNN […]

Unilever, a British-Dutch consumer goods corporation, gets the approval of Kenya to buy Sara Lee Corp’s ancillary in the east African nation, according to a government notice presented on Friday. An Unilever official who does not want to be named stated that the company had purchased Sara Lee’s local body care businesses. As a dual-listed […]

Uganda will start the stage of developing its first oil refinery in 2012. The refinery will begin by meeting the local demand of up to 25,000 barrels per day (bpd) prior to increasing up to 200,000 bpd, according to a Uganda official on Tuesday. The east Africa’s third biggest economy is already keen on avoiding […]

Sara Lee Corp is not rushing in to make any deals in the U.S coffee market even though they are focusing their business on coffee and meat, according to a statement given by its interim chief executive. There are already rumors spreading about certain business deals in the U.S coffee market especially since Starbucks Corp […]

Starbucks plans to end their deal with the Kraft Foods Inc to distribute their packaged Starbucks coffee to several stores and other outlets. It was just a month ago when Starbucks informed Kraft Foods about this plan.  Kraft Foods has been packaging for Starbucks for over a decade. Kraft Foods Inc surprised the Wall Street […]

Tribune creditors from three different groups filed rival proposals to reorganize the newspaper publisher and end its almost two-year stay in bankruptcy. The three plans were filed on Friday at Delaware’s Bankruptcy Court, and they will compete for creditor votes against the proposed plan made by the company. Judge Kevin J. Carey from the U.S […]

On Wednesday Iraq offered up to three of its gas fields to several global firms in its third energy auction since the U.S invasion on 2003. Iraq hopes to jump up to the top energy producers in the world and ward of the impression of war and isolation. However, according to analysts, the gas auction, […]