Continental to Be United

Staff / Truthdig May 1, 2010 Barring any last-minute mess-ups, a deal to merge air carriers Continental and United will likely be announced as early as Monday, a union that would create the world's biggest airline. Dig deeper ( 1 Min. Read )

Goldman Sachs Posts Big Profits as SEC Suit Awaits

Staff / Truthdig Apr 20, 2010 Goldman Sachs has demonstrated a remarkable ability to keep pulling in the profits -- and bestowing bonuses on company execs -- regardless of the state of the global economy, and despite what the bank might have done to damage it in the first place On Tuesday (continued)Goldman Sachs has demonstrated a remarkable ability to keep pulling in the profits regardless of the state of the global economy. Dig deeper ( 1 Min. Read )

BofA Back in the Black

Staff / Truthdig Apr 17, 2010 We can all now breathe a collective sigh of relief: Bank of America has returned to quarterly profit after losing almost $200 million in the last quarter of 2009. The news comes even as home foreclosure activity hit an all-time record in March. Dig deeper ( 1 Min. Read )

Robin Hood Hacker

Staff / Truthdig Feb 26, 2010 A hacker using the alias "Neo" has attained almost cult status in Latvia after releasing through Twitter the confidential financial data of allegedly corrupt banks and state-owned companies that profited from the global recession. Dig deeper ( 1 Min. Read )

Fed to Raise Interest Rate

Staff / Truthdig Feb 19, 2010 The Federal Reserve announced Thursday it would increase the interest rate for temporary bank loans. The New York Times reports that many on Wall Street see this as signaling an end to big bank profits. But some economists say the move was purely technical, with no real effect on how much money is made. Dig deeper ( 2 Min. Read )

A Green Checkered Flag for Ford

Staff / Truthdig Jan 28, 2010 Ford Motor Co. has seemingly shifted out of crisis mode and is now reporting a profit of $2.7 billion for 2009, a considerable success given the state of the U.S. auto industry and the sluggish economy. Dig deeper ( 1 Min. Read )

Has Goldman Sachs Gotten Greedier?

Staff / Truthdig Dec 17, 2009 Was there ever a time when Goldman Sachs was more, um, ethical and client-centric than greedy and profit-driven, as its reputation now suggests? That's debatable, but whatever its previous corporate ethos might have been, all signs point to Goldman's current chairman and CEO, Lloyd Blankfein, as the major driving force behind the firm's push for building bigger profits quicker these days. Dig deeper ( 1 Min. Read )

The Dark Side of Cause-Marketing

Staff / Truthdig Oct 16, 2009 Cause-related marketing, such as National Breast Cancer Awareness Month, may just be a way to move products at higher prices. A new report details the difficulty well-intentioned consumers may encounter in getting a tiny portion of their purchases to go to the intended charities. Dig deeper ( 1 Min. Read )

AIG Logs a Profit

Staff / Truthdig Aug 7, 2009 For almost two years, insurance giant AIG has experienced quarterly losses -- until now. The infamous company is reporting its first profitable quarter since 2007, a turnabout that will give the U.S. government a whopping $1.5 billion gain as a shareholder, while individual shareholders get to split $311 million among themselves. Dig deeper ( 1 Min. Read )

Big Money for Goldman Sachs

Staff / Truthdig Jul 15, 2009 Fresh off the bailout, Goldman Sachs raked in $3.44 billion in net profit this quarter, beating analysts' already high expectations, and the firm's success will pay off for employees in the form of generous bonuses. Not surprisingly, pro-Goldman types think this is all good news. Dig deeper ( 1 Min. Read )

Exxon Ignoble

Staff / Truthdig Jan 30, 2009 Resilient and ultimately morally bankrupt, international oil darling Exxon Mobil has managed to take the 2008 medal for most profitable American corporation, despite a 33 percent fall in fourth-quarter earnings. Dig deeper ( 1 Min. Read )

Toyota to Post First Loss in 70 Years

Staff / Truthdig Dec 23, 2008 Here's yet another sign of the econo-polcalypse: Toyota Motor Corp., which has been profitable for decades thanks to steady sales and shrewd leadership, has predicted a loss for the first time in 70 years. Dig deeper ( 1 Min. Read )