On Thursday Sony introduced a new version of its Sony Walkman, which includes the ability to play digital video. This will be available in September and it will be the latest potential rival to Apple’s iPod. It will support an open platform, meaning that it will be able to play a variety of music formats such as MP3 and Microsoft’s WMA. Continue Reading »
Tuesday U.S. home prices fell 3.2%, which is the steepest rate of decline since 1987. Unfortunately, there is no evidence of a market recovery or even slowing down anytime soon either. This is actually the 5th straight month in which the sales of existing homes has dropped, thus showing a substantial increase in the number of unsold homes. Continue Reading »
In the second quarter Staples profits rose by 11%. This is because while less office furniture and business machines were sold, the copy and print centers gained in their popularity. Sales of laptop computers, ink and software were also strong. Continue Reading »
On Thursday the Asian stock markets plunged again and the European stock market soon followed since investors were fleeing from the fallout of the troubled U.S. mortgage market. As such, the U.S. stock market also looks as though it is headed for a sharp fall as well. Continue Reading »
The Federal Reserve has said that banks have had less of a demand for mortgages and commercial loans between May and July. This only adds to the evidence that has been compiled to show that the pace of economic growth has truly slowed down. Continue Reading »
This week the rates on 30-year mortgages dropped to their lowest point in 2 months, averaging 6.59%, down from 6.68% last week. Of course, this is good news for people who are thinking about buying a home, especially those who are having a difficult time getting credit. Continue Reading »
Consumers are showing an ever growing interest in media. This interest is going to help to supercharge this part of the economy in the USA so that it will pass the $1 trillion mark in 2008. Herein there will be a rise of 6.7% a year from where it stands at $942 billion this year. It will more than likely reach the $1.2 trillion mark in 2011. Continue Reading »
Disney’s third-quarter profits were both higher and stronger thanks to the fact that its TV networks and theme parks did well; they acquired the online virtual world Club Penguin; and their Web presence was expanded. Unfortunately, the company’s DVD sales were lower than anticipated even though Pirates of the Caribbean: At World’s End was quite successful. Continue Reading »