President-elect Barack Obama is laying the groundwork for a giant economic stimulus package - up to $850 billion over two years - in his first test of legislative give and take with Congress, according to the AP. The report states that Obama’s economic advisers are currently assembling a recovery plan and already reaching out to [...]
The ranks of the world’s ultra rich swelled to 8 million last year as the wealthy sidestepped the brunt of the credit crunch. According to the 2008 World Wealth Report compiled by Merrill Lynch & Co. and consulting firm Capgemini Group, the rich have been affected by the credit crisis (since their ownership of financial [...]
Although many investors are still avoiding risk of all kinds, some are eager to put money into distressed funds. Instead of a bear market, the emerging investment environment could be described as a vulture market, according to a report from Financial-Planning.com. The argument is that aggressive investors hit by market turmoil and starved for returns, [...]
Climate change is moving up the corporate agenda, and clean tech investment is reaching record levels – with $5.2 billion invested since January 2007, according to Ernst & Young. The firm says “climate change challenges are creating opportunities for next generation technologies as companies seek to respond to stakeholder expectations, current and anticipated regulation, and [...]
President-elect Barack Obama says he wants to revive the economy through a job-creating public works plan on a scale unseen since the building program of the interstate highway system in the 1950s. His ideas were outlined in the weekly radio address the day after the government reported that employers cut 533,000 jobs in November - [...]
Bankruptcies of large U.S. companies are expected to extend into 2010, according to a new study released by Bain Corporate Renewal Group (Bain CRG). Meanwhile, the American Bankruptcy Institute (ABI) said U.S. consumer bankruptcy filings jumped nearly 40% in November compared to the year before. And there is no end in sight. “We expect the [...]
As the economic value of intellectual property (IP) climbs, the amount of high cost litigation involving ownership and infringement of such property is also rising. Intellectual property, such as patents, copyrights and trademarks, have become increasingly important to our economy both regionally and nationally, according to The Business Review in Albany. The report adds the [...]
New Jersey Governor Jon Corzine recently announced $2.8 billion in infrastructure improvements that he said will not only improve the state’s schools, bridges and roads, but will also stimulate the economy and create as many as 26,000 jobs. “If we are going to provide relief from the national recession, we need to keep New Jerseyans [...]
Jeffer, Mangels, Butler & Marmaro announced that it has filed a patent infringement lawsuit on behalf of EMG Technology against Apple. The lawsuit, which seeks unspecified damages, accuses Apple of infringing U.S. Patent No. 7,441,196 in the way the iPhone navigates the Internet. This is just one example of the growing number of lawsuits being [...]
Citigroup sees clear opportunities in infrastructure. In a recent report, Citigroup states, “The secular drivers for increased developed world infrastructure spending are clearly in place.” Citigroup also notes there is increased political focus on infrastructure spending as a way to jumpstart the economy, to improve U.S. competitiveness and to reduce reliance on foreign energy sources. [...]
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