air trade business

Bernanke Says Some Small Banks May Fail
Federal Reserve Chairman Ben Bernanke said in testimony in front of U.S. Congress today that there could be some bank failures because of the ongoing credit crisis. The AP reports that Bernanke did says that the large U.S. banks will likely recover but it is disturbing to hear he expects some small bank failures.Bernanke, testifying before Congress, said that while the large U.S. banks will likely recover from the recent credit crisis, others could fail.Implying that some banks may fail stirs concerns for any investor whos familiar with financial and economic history, said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. Investors have been very edgy about credit market conditions and banks financial conditions. Very edgy. And this doesnt remove that edginess.Earlier, stocks had fallen in response to a Labor Department report that first-time unemployment claims rose last week by 19,000 to 373,000, the highest level since late January.Scott Wren, equity strategist for A.G. Edwards & Sons, said he still believes theres less than a 50 percent chance of a recession, but that its clear employers are cautious about hiring.To consistently see claims up near 400,000, thats pretty telling often-times of a recession, he said.On the positive side Bernanke doesnt anticipate a return to the stagflation periods of the 1970s - although with gas forecast to exceed $4 a gallon not everyone is convinced. Marketwatch reports that stocks are lower today following Bernankes words and news that last years GDP growth was just 0.6%Permalink | Recent Headlines | WWFeeds.com

Greenspan Sees Recession Risk
The BBC reports that former Fed chairman Alan Greenspan - who blasted Bush in his book - has warned that US economic growth has stalled and a quick recovery is not likely.As of right now US economic growth is at zero, he said, adding the longer it stayed this way the greater the risk of a deep recession.Wall Street giants Goldman Sachs and Merrill Lynch have both forecast that the US economy will contract in 2008.The US Federal Reserve has said 2008 growth will be between 1.3% and 2%.The forecast, made last week, was half a percent lower than the Feds previous estimation.The gloomy outlook was blamed on falling house prices, reduced bank lending, turmoil in the financial markets and higher oil prices.If the gloomy outlook isnt enough Greenspan also thinks oil will keep rising and that the housing mark will provide more concern before it gets better.Mr Greenspan also predicted that booming oil prices, which reached a record of more than $101 last week would keep rising and that the US housing market would see more misery before the tide turned.Greenspan isnt alone. Just yesterday there were reports that more analysts have jumped on the recession is likely bandwagon. If we do dip into an actual recession how long will we stay there? Thats the next question that needs answering.Permalink | Recent Headlines | WWFeeds.com

Down $900 Million or More, the Chairman of Bear Sells - New York Times
Calgary HeraldDown $900 Million or More, the Chairman of Bear SellsNew York Times - 1 hour agoBy LANDON THOMAS Jr. Only a year ago James E. Cayne?s stake in Bear Stearns was worth more than $1 billion. But on Thursday, Mr.NEW YORK, March 28 Reuters - Some US stocks to watch on Friday: ReutersBear Stearns Chairman Sells Stock RTT NewsUnited Press International - Forbes - Los Angeles Times - MSN Moneyall 461 news articles

Worst Day of 2008 For Stocks
Stocks plunge again as concerns about the economy continue. Marketwatch reports that the DOW is now at a 10-month low. Today was also the worst day of the year for the stock market. It has been a short year and it hasnt been a good year at all so far.When reminded about how bad things are, the market remembers it should go down, said Art Hogan, chief market strategist at Jefferies & Co.And, it is going to take more than just monetary policy to clean up the mess weve made with this economy, Hogan said.The Philadelphia Fed Survey was a disaster, defying even the most pessimistic projections, said Frederic Ruffy, an analyst at Optionetics.Heres a look at the numbers.DOW - lost 300 points - 2.5%. Hits 10-month low.NASDAQ - lost 47.69 points - 2%S&P 500 - lost 39.94 points - 2.9%.The tumble began when the Philadelphia Fed reported dismal figures.Shortly before the Fed chairman spoke, the Philadelphia Fed said its measure of manufacturing activity feel sharply to a negative 20.9 from a revised reading of negative 1.6 in December. The report underscored the seriousness of the economic concerns that have in recent weeks drawn the focus of both Wall Street and Washington.The Philadelphia Fed just announced dreadful numbers, said John ODonoghue, co-head of equities at Cowen & Co. He said if you look back at Philadelphia Fed data for similar numbers, it takes you back to the 2001 to 2002 recession.Its not rocket science - the economy is slowing dramatically, and its being reflected in economic reports.Bloomberg says Merrill Lynchs huge 4th quarter loss also played a role in the bad day on Wall Street.Permalink | Recent Headlines | WWFeeds.com

CARB cuts zero emission vehicle requirement - Bizjournals.com
PhysOrg.comCARB cuts zero emission vehicle requirementBizjournals.com - Mar 28, 2008The California Air Resources Board voted unanimously Thursday to slash its previous requirement for auto makers to produce 25000 zero emission vehicles between 2012 and 2014 down to 7500 vehicles.California Lowers Auto Emissions Rule The Associated PressAir board trims mandate for zero-emission cars San Jose Mercury NewsDetroit Free Press - Los Angeles Times - United Press International - Telegraph.co.ukall 603 news articles

BA cancels flights as chaos persists at Heathrow T5 - Reuters
Edmonton JournalBA cancels flights as chaos persists at Heathrow T5Reuters - 43 minutes agoBy David Clarke LONDON Reuters - British Airways Plc cancelled a fifth of flights from its new $8.6 billion terminal at London's Heathrow airport on Friday as chaos from its shambolic opening spilled into a second day.British Airways Cancels Flights as T5 Chaos Continues Update2 BloombergBA Expects More Cancellations As Problems at Terminal 5 Continue Wall Street JournalMarketWatch - Times Online - USA Today - BBC Newsall 1,678 news articles

UPDATE: Proxy Battle Begins At Office Depot - CNNMoney.com
UPDATE: Proxy Battle Begins At Office DepotCNNMoney.com - 1 hour agoA proxy battle at Office Depot Inc. ODP was officially launched Friday when a shareholder group filed its materials seeking its two nominees to replace the company's current and former chairman from the board.Office Depot shareholder files proxy Bizjournals.comOffice Depot holder group files proxy statement ReutersFOXBusiness - Trading Markets press release - SunHerald.comall 13 news articles

Delta, US Rivals Target Heathrow Amid Open Skies (Update3) - Bloomberg
BBC NewsDelta, US Rivals Target Heathrow Amid `Open Skies' Update3Bloomberg - 3 hours agoBy Tracy Alloway and John Hughes The European Union-US accord ends a lock on flights between the US and Heathrow for British Airways Plc, Virgin Atlantic Airways Ltd.Video: Suddenly, No Rules for Trans-Atlantic Flights AssociatedPress'Open Skies' heralds new era in air travel CNN InternationalFort Worth Star Telegram - Houston Chronicle - Forbes - Reutersall 214 news articles

Dow Up Over 400 Points
News that the Fed is going to provide additional liquidity for the credit markets help boost stocks to huge gains today The Dow scored its best one day percentage increase in 5 years according to Reuters. The Dow climbed 416 on the day and the Nasdaq was up 86 points.At the same time cities are starting to feel the impact of the tough housing markets. There are more homeless people. There is more crime. There are less revenues for U.S. cites.The mortgage foreclosure crisis has caused a drop in cities revenues, a spike in crime, more homelessness and an increase in vacant properties, a survey of elected local officials out today shows.About two-thirds of 211 officials surveyed by the National League of Cities reported an increase in foreclosures in their cities in the past year, according to the online and e-mail questionnaire. A third of them reported a drop in revenues and an increase in abandoned and vacant properties and urban blight.Theres a reduction in revenues at the same time that more services are needed, says Cynthia McCollum, president of the National League of Cities and councilwoman in Madison, Ala., a suburb of Huntsville. Because of foreclosures, people are stealing, crime is on the rise and we dont have more money for cops on the street.The market had a boost today but the foreclosure crisis is worsening.Permalink | Recent Headlines | WWFeeds.com

Delta completes jet wiring inspections - Atlanta Journal Constitution
Delta completes jet wiring inspectionsAtlanta Journal Constitution - 1 hour agoBy SA REID , MIKE MORRIS Delta Air Lines has completed a reinspection of wiring bundles on older jets and flight schedules had returned to normal Friday morning, a spokesman for the airline said.Airlines wrap up jetliner checks Los Angeles TimesHundreds of Flights Canceled for Inspections New York TimesMarketWatch - KMSS TV33 - Reuters - Cheapflights.comall 2,165 news articles

Air France Refuses to Budge on Job Cuts at Alitalia (Update1) - Bloomberg
CitizenAir France Refuses to Budge on Job Cuts at Alitalia Update1Bloomberg - 1 hour agoBy Flavia Rotondi and Andrea Rothman March 28 Bloomberg -- Air France-KLM Group, Europe's biggest airline, refused to back down on plans to cut 2100 jobs at takeover target Alitalia SpA in a document submitted to the Italian company's unions.Air France-KLM sticks to its guns in Alitalia talks MarketWatchAlitalia unions critical but won't boycott talks ReutersCNNMoney.com - International Herald Tribune - BBC News - Wall Street Journalall 279 news articles