Cash for clunkers to end Monday

The 3 billion dollar government program to trade in old cars for rebate incentives from the dealer will end Monday at 8 p.m.  The month old program which initially was set to 1 billion dollars was extended for a total of 3 billion. The program ran for a month and the 3 billion funding has [...]

Written on August 21, 2009 | Posted in Business News, Headlines | No comment

Oil Possibly to hit $85

A weaker Dollar USD pegged against a stronger EURO with oil at $74 poses the possibility of oil breaking a technical level of $74 and rising to $85. Friday Crude Oil hit a 12 month high.

Written on August 21, 2009 | Posted in Forex, Headlines | No comment

Art Cashin warns of possible change of sentiment

Expirations Friday and the beginning of Ramadan are some topics Art Cashin mentioned Friday morning as he discussed the possible change in sentiment. A weak US Dollar and a free fall in stocks could be a bad situation for the stock market. Mortgage defaults soared over 13% which is the nation’s highest ever. Oil hit [...]

Written on August 21, 2009 | Posted in Headlines, US News | No comment

Myspace to acquire ILike

Myspace will purchase social network music site ILike.com for an undisclosed amount.
Brothers Ali and Hadi Partovi founded iLike in 2006. In two years iLike has become the largest music application across all social networks — with 55 million total users and 1.5 billion monthly impressions. No structural changes will be made among management or employees [...]

Written on August 20, 2009 | Posted in Aquisitions, Internet, Technology | No comment