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FinancialNewsOnline
on Jan 12, 2012
This is what's in the news for Thursday
January 12, 2012. The Wall Street Journal reports U.S. energy firms are
pumping so much natural gas out of the ground that prices are
dropping--down 5.7% yesterday--and the cheap gas isn't likely to end
anytime soon. The Wall Street Journal also reports Google
(NASDAQ:GOOG), which took its Web-search engine out of mainland China
two years ago after a censorship fight with Chinese authorities, renewed
its drive to expand there. The Wall Street Journal also reports Sears
Holdings (NASDAQ:SHLD) suffered a new setback when CIT Group (NYSE:CIT)
said it would no longer finance loans to suppliers waiting for payment
from the company. Reuters reports GM (NYSE:GM) could move more vehicle
production to its European factories in a cost-cutting deal with its
German union that could avoid a standoff and keep its Opel unit out of
bankruptcy, Reuters reports. Finally, Bloomberg reports generic drug
maker Teva Pharmaceutical Industries (NASDAQ:TEVA) is seeking
acquisitions in Asia to help its sales in the region and expand its
product lines, company executives say.
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