Archives: September 2009

Thanks for Your Readership

Posted by: Andy Reinhardt on September 11, Categories: Final

Dear Readers: The Executive Summary is being discontinued as of today. We have enjoyed providing you with a summary of top news headlines every day from around the world. Please...

Top Stories of the Week

Posted by: Harry Maurer on September 11, Categories: weekend

U.S. Consumer Confidence Ticks Up Again The Reuters/University of Michigan preliminary index of consumer sentiment rose to 70.2 in September from 65.7 in August. Economists had expected a smaller...

Morgan Stanley's John Mack Steps Down

Posted by: Mark Scott on September 11, Categories: early

Morgan Stanley Chief Executive John Mack will step down in a move that ends a four-year tenure marked by controversy over his strategic decisions and a near-death experience during...

GM Will Sell Opel to Magna After All

Posted by: Harry Maurer on September 10, Categories: late

After mulling over Opel’s fate at length, General Motors confirmed that it will sell 55% of the German carmaker to Canadian car-parts maker Magna International and Russian bank OAO...

Obama Urges Congress to Act on Health Care Reform

Posted by: Andy Reinhardt on September 10, Categories: early

Declaring that "the time for bickering is over," U.S. President Barack Obama delivered a highly-anticipated address to the U.S. Congress on Sept. 9 laying out his proposals to reform...

Apple's Jobs Takes The Stage

Posted by: Cristina Lindblad on September 09, Categories: late

Apple chief Steve Jobs made his first public appearance today some three months after returning from a medical leave of absence during which he underwent a liver transplant. “I’m...

Russia Overtakes Saudi Arabia in Oil Exports

Posted by: Mark Scott on September 09, Categories: early

Russia has surpassed Saudi Arabia in oil exports for the first time since the end of the Soviet Union as the country takes advantage of OPEC production cuts to...

Don't Count on Hiring Picking Up

Posted by: Harry Maurer on September 08, Categories: late

According to Manpower Inc.’s quarterly survey, U.S. employers plan to do less hiring in the fourth quarter than they did in the third. The survey, which covers 28,000 companies...

Cadbury Rejects $16.7 Billion Kraft Takeover Bid

Posted by: Andy Reinhardt on September 08, Categories: early

Kraft Foods will likely have to up the ante if it hopes to acquire British confectionery and chocolate maker Cadbury, producer of the iconic Dairy Milk bar and Trident...

Top Stories of the Week

Posted by: Harry Maurer on September 04, Categories: weekend

U.S. Unemployment at a 26-Year High Joblessness jumped to 9.7%, higher than expectations and the highest rate since June, 1983. The Labor Dept. announced that the country lost 216,000...

Spooked By Stock Market Slump, China Raises Limits For Foreign Funds

Posted by: Mehul Srivastava on September 04, Categories: early

Trying to stop the Chinese stock markets from deepening a slump, regulators will allow off-shore funds to hold as much as $1 billion in Chinese equities, and allow the...

Oracle Deal Hits European Speed Bump

Posted by: Cristina Lindblad on September 03, Categories: late

European Union regulators announced on Thursday that they are launching an antitrust probe into Oracle’s $7.4 billion takeover of Sun Microsystems. EU competition commissioner Neelie Kroes said that regulators...

Obama's big gamble on healthcare debate

Posted by: Ian Rowley on September 03, Categories: early

President Obama's announcement that he will take his case for revamping healthcare before a joint session of Congress next week reflects a decision to go "all in" politically, laying...

Pfizer Pays Up

Posted by: Harry Maurer on September 02, Categories: late

Announcing the details of an agreement it first revealed in January, Pfizer will pay $2.3 billion to settle a U.S. investigation into illegal marketing of medicines, and a subsidiary...

After the Clunker Party, an Auto Sales Hangover

Posted by: Dexter Roberts on September 02, Categories: early

Car companies said on Sept. 1 that their August sales soared to an annualized selling rate of about 14 million, thanks to the government's clunkers program, which gave $3,500...

Wall Street Shrugs Off Good News

Posted by: Harry Maurer on September 01, Categories: late

Stocks on Wall Street traded sharply lower despite a couple of encouraging economic reports. The Institute of Supply Management’s manufacturing index rose to 52.9 in August, up from 48.9...

China’s Manufacturing Expands at Fast Pace

Posted by: Moon Ihlwan on September 01, Categories: early

China’s manufacturing expanded at the fastest pace in 16 months in August, driven by record lending in the first half of the year, according to surveys. Gains in output,...