NEW YORK (Reuters) - The Dow industrials lost more than 300 points in a sell-off on Wednesday that drove all major stock indexes down over 2 percent in the wake of the presidential election as investors' focus shifted to the looming "fiscal cliff" debate and Europe's economic troubles.The Standard & Poor's 500 Index posted its biggest daily percentage drop since June, with all 10 S&P sectors...
Coal company announces layoffs in response to Obama win
Labels: BusinessA coal company headed by a prominent Mitt Romney donor has laid off more than 160 workers in response to President Obama's election victory.Murray Energy said Friday that it had been "forced" to make the layoffs in response to the bleak prospects for the coal industry during Obama's second term. In a prayer circulated by the company, CEO Robert Murray said Americans had voted "in favor of redistribution,...
U.S. to Pass Saudi Arabia in Energy Production, IEA Says: Huge Foreign Policy, Economic Implications
Labels: BusinessA new report by the International Energy Association says the U.S. will become the world's largest oil producer by 2017, overtaking current leaders Saudi Arabia and Russia. U.S. energy policies initiated by the George W. Bush administration and implemented by President Barack Obama have moved the U.S. toward energy independence and away from Middle East energy sources. U.S. oil production has risen...
Eurozone back in recession in Q3
Labels: BusinessLONDON (AP) -- The 17-country eurozone has bowed to the inevitable and fallen back into recession for the first time in three years as a sprawling debt crisis took its toll on the region's stronger economies.And with surveys pointing to increasingly depressed conditions across the eurozone at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the...
Are We Regulating Ourselves Back Into Recession?
Labels: Business"Let us put an end to self-inflicted wounds," President Gerald Ford told Congress in 1975. "And let us remember that our national unity is a most priceless asset." While Ford was talking about the scars from the Vietnam War, his words seem relevant today. Our nation grapples with not one divisive issue, but a basket of them, each pulling and undermining our already battered confidence, while testing...
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"The Black Box" debuts at top of U.S. bestseller list
Labels: EntertainmentNEW YORK (Reuters) - "The Black Box" debuted at the top of the Publishers Weekly's bestseller list on Thursday.The list is compiled using data from independent and chain bookstores, book wholesalers and independent distributors nationwide.Hardcover Fiction Last Week1. "The Black Box" by Michael Connelly (Little, Brown, $27.99) -2. "Notorious Nineteen" by Janet Evanovich (Bantam, $28.00) 13. "Cold...
Father's shadow looms over Australian billionaire's book launch
Labels: EntertainmentSYDNEY (Reuters) - Australian mining magnate Gina Rinehart, one of the world's wealthiest people, has displayed a trait rarely revealed publicly among the super-rich: insecurity.Rinehart's first book was eagerly awaited by an Australian public enthralled and sometimes appalled by her story of big business, family feuds and almost unimaginable wealth.But the 58-year-old widow with a fortune estimated...
Jackson's Hobbit: the journey begins
Labels: EntertainmentWELLINGTON (Reuters) - Film maker Peter Jackson wants to scare children with his latest movie - and perhaps even a few grown ups.The first of the Hobbit movie trilogy - "The Hobbit: An Unexpected Journey" - is about to hit theatres, and Jackson says he's tried to hold true to its roots as a children's fantasy story, with scary bits."If they're scared of the trolls great, if they're scared of the goblins...
Book Talk: Writer completes Churchill bio for late friend
Labels: EntertainmentNEW YORK (Reuters) - In the late 1990s, Paul Reid, then a journalist with The Palm Beach Post, became close friends with acclaimed author and historian William Manchester after covering a reunion of Manchester's Marine friends from World War Two.Manchester was struggling to get the third and final volume of his Winston Churchill biography off the ground. The first two installments, released in the...
World Chefs: Keller shares memories, spotlight in latest book
Labels: EntertainmentNEW YORK (Reuters) - Thomas Keller, one of America's most respected chefs, shares the food memories of his childhood and his time in France in his new book "Bouchon Bakery," which is also the name of his chain of pastry shops in the United States.Keller is the only American chef who owns two three-Michelin-star restaurants - Per Se in New York City and The French Laundry in the Napa Valley wine region...
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