money

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The Top 10 Investors
The Top 10 Investors
Jul 18, 2007 5:16 PM CDT

The Top 10 Investors

A look at the individuals who are changing the way money changes hands

(Newser) - Not only are these investors sitting on mountains of doubloons—a sure sign of financial savvy—but they have also changed the way people think about money and investing.
  1. John Bogle, founder, the Vanguard Group. Now president, Bogle Financial Markets Research Center.
  2. Warren Buffett, CEO and chairman, Berkshire Hathaway.
  3. David
...

Pound Soars Against Dollar
Pound Soars Against Dollar
Jul 4, 2007 1:24 PM CDT

Pound Soars Against Dollar

Sterling passes $2.02, raising hopes and filling coffers

(Newser) - The British pound climbed against the dollar today to a level not seen since June 1981, nudging past $2.02 before closing at $2.0136. The third consecutive trading session with a 26-year high came as the UK braced for a interest rate hike and the US braced for an...

Mo$cow: World's Priciest City
Mo$cow: World's Priciest City
Jun 18, 2007 4:29 AM CDT

Mo$cow: World's Priciest City

London second, Seoul third in worldwide survey

(Newser) - Moscow is the world's most expensive city for expats, according to an annual human resource study. A cup of Muscovite coffee can run more than $6, and lodging in the Russian capital can send foreign workers from rubles to rags. London placed in the survey, which compared costs of living...

Texas Builds an Ultimate Archive
Texas Builds an Ultimate Archive
Jun 17, 2007 4:00 PM CDT

Texas Builds an Ultimate Archive

(Newser) - Start with 48 Gutenberg Bibles—yes, count 'em, 48. Move on to the corrected proofs of Joyce's Ulysses and then to part of Kerouac's original manuscript for On the Road.  Then finish up with Woodward and Bernstein's Watergate notes. These items and much, much more are in the Harry...

Dutch Do Pensions Right
Dutch Do Pensions Right
Jun 15, 2007 2:00 PM CDT

Dutch Do Pensions Right

The US should read up on Social Security in the Netherlands, reports Time

(Newser) - Governments around the world are stuck between tightfisted Anglo-American pension plans that pay only a fraction of one's past salary, and extravagant European-style social security that ends up welshing on the payments. But the Dutch have struck a balance that's working, reports Time, as sufficient amounts of money are saved...

100 Biggest Celebrities
100 Biggest Celebrities
Jun 15, 2007 10:39 AM CDT

100 Biggest Celebrities

New Forbes list is full of ‘biggest-ever’s

(Newser) - Forbes’ new list of the 100 most powerful celebrities is packed with broken records, including the highest-grossing athlete (Tiger Woods: $100M in the past year), the highest-grossing concert tour (The Rolling Stones: over $400M in sales) and the highest-paid film role (Johnny Depp: $92M for Pirates II). But the ubiquitous...

Paulson Resists Labeling China a 'Manipulator'

Congress stews as Beijing keeps yuan weak vs. dollar

(Newser) - Treasury Secretary Henry Paulson has denied congressional requests for a formal accusation of currency manipulation against China, the Wall Street Journal reports. China's tight restrictions have kept the yuan artificially low against the dollar for decades, but recent record highs, combined with signs that Beijing may plan to let up...

Dow Falls as Bond Yields Soar
Dow Falls as Bond Yields Soar
Jun 13, 2007 7:13 AM CDT

Dow Falls as Bond Yields Soar

Record high yields threaten higher mortgage rates

(Newser) - US bond yields have hit a five year high—bringing the threat of higher interest rates, costlier home mortgages and a slowing economy, the Wall Street Journal reports. The benchmark 10-year Treasury note rose to 5.25 per cent yesterday. Rising bond yields echo throughout the economy, making stocks less...

Next World Bank Prez Meets World
Next World
Bank Prez
Meets World
Jun 5, 2007 11:33 AM CDT

Next World Bank Prez Meets World

Zoellick begins circuit to meet and greet bank's poorest clients

(Newser) - Former trade rep Robert Zoellick embarked on a world tour yesterday, in advance of his likely ascension to president of the World Bank this month. Zoellick will stop in Africa to visit the bank's largest beneficiaries, and Europe to schmooze with its largest donors. "I want to leave no...

$100 Million Here, $100 Million There...

U of I gets second huge gift in as many days to Illinois universities

(Newser) - And, as Illinois' late Senator Everett Dirksen once said, you are talking about real money. Tom Siebel, University of Illinois graduate and founder of Siebel Systems, a customer management relationship software firm, pledged $100 million in his will to the U of I.

US Intelligence In Private Hands
US Intelligence In Private Hands
May 31, 2007 8:00 AM CDT

US Intelligence In Private Hands

Billions a year spent on private intel contracts—but where's the money going?

(Newser) - Since 9/11, the US government has been upping spending on private intelligence contractors, doling out cash that is often classified and impossible to trace, Salon reports. 70% of all classified intelligence spending goes into private hands, making waste and corruption serious concerns.

Chinese Stocks Plummet After Trading Tax Tripled

Move aimed at containing market bubble; could trigger serous sell-off

(Newser) - Chinese stocks plummeted today, after the finance ministry tripled a tax on trades in an effort to deflate a worrisome stock market bubble. A week ago, the ministry publicly pledged not to raise the tax. The reversal opens the government to heavy criticism if it triggers a serious rout.

Top Executive Salaries Soar
Top Executive Salaries Soar
May 25, 2007 8:00 AM CDT

Top Executive Salaries Soar

Gap between the CEO and the cubicle is wider than ever

(Newser) - The top bananas of the corporate world are taking in more income in relation to their immediate subordinates than ever before, the Times reports. Wealth is concentrating among the business elite but staying somewhat stagnant among more middling execs—the average gap between #1 and #3 has more than tripled...

Men No Longer Doing Better Than Their Fathers

Study shows American men in their 30s earning 12% less than dads did study,

(Newser) - American men in their 30s are doing worse than their fathers did financially, a change from just 10 years ago and a reversal of the expectation that each generation will exceed the success of their parents. In 2004, the median income for a man in his 30s, adjusted for inflation,...

Congress Hikes Minimum Wage
Congress Hikes Minimum Wage
May 25, 2007 5:08 AM CDT

Congress Hikes Minimum Wage

National minimum goes to $7.25 by 2009, small business gets tax breaks

(Newser) - Congress has raised the national minimum wage for the first time in 10 years, from $5.15 to $7.25 per hour. The hike, part of a compromise between the White House and Congress over Iraq funding, will take effect in three stages over the next two years. It will...

Hedge Funds Skip Riskier Gambles
Hedge Funds Skip Riskier Gambles
May 22, 2007 11:52 AM CDT

Hedge Funds Skip Riskier Gambles

Returns are down as more cautious investors hold sway

(Newser) - Are hedge funds going soft? The swashbuckling industry has long been known for its high-risk, high-rewards MO, but returns are down, on average trailing the S&P 500 last year. The reason, BusinessWeek suggests, may be that alternative investments are no longer so alternative. And other non-traditional investments, like private...

SEC Gets Lessons on Terrorism
SEC Gets Lessons on Terrorism
May 21, 2007 2:03 PM CDT

SEC Gets Lessons on Terrorism

Briefings reveal expanding concern over financial terror

(Newser) - For the first time in history, the SEC is being briefed on a different kind of security: homeland security. Barron's revealed that the CIA is filling in the SEC every month about terrorists and other criminals who might affect world stock markets.

Iraqi Cash Is Funding Al Qaeda
Iraqi Cash
Is Funding
Al Qaeda
May 21, 2007 4:52 AM CDT

Iraqi Cash Is Funding Al Qaeda

Bin Laden search finds money trail leading from various sources

(Newser) - A stepped-up CIA effort to hunt down Osama Bin Laden in Pakistan hasn't succeeded in locating the  terrorist, the LA Times reports, but it has uncovered evidence that cash is being funneled from Iraq to keep Al Qaeda alive and well. "Iraq is a big moneymaker for them,"...

China Loosens Up on Yuan
China Loosens Up on Yuan
May 18, 2007 10:40 AM CDT

China Loosens Up on Yuan

Currency move may be concession to US—or attempt to pop a stock market bubble

(Newser) - Just days before a meeting with US Treasury Secretary Henry Paulson, China is taking baby steps toward letting its currency trade more freely. The government also raised interest rates and the reserve on bank loans today, signaling concern over the country's red-hot economy. China's trade surplus—which some American politicos...

MEET THE MILLIONAIRES
MEET THE MILLIONAIRES
May 17, 2007 11:44 AM CDT

MEET THE MILLIONAIRES

From private equity to speaking tours: how the candidates made their money

(Newser) - No surprise that they're wealthy—at least 10 of this year's presidential candidates are millionaires. But how they brought in the big bucks is the focus of the Washington Post 's analysis of their latest financial disclosure forms and other documents. Rudy Giuliani, for instance, made $11 million last year...

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