Finance Headlines

Re-invention of Journalism?
"The Federal Trade Commission (FTC) is seeking ways to "reinvent" journalism, and that's a cause for concern. According to a May 24 draft proposal, the agency thinks government should be at the center of a media overhaul. The bureaucracy sees it as a problem that the Internet has introduced a wealth of information options to consumers, forcing media companies to adapt and experiment to meet changing market needs. FTC's policy staff fears this new reality."

$13 Trillion in Debt Surpassed in US:
"Calculated down to the exact penny, the debt totaled $13,050,826,460,886.97 as of Tuesday, leaping nearly $60 billion since Friday, the previous day for which figures were released."

Gulf Coast to Lose out on Jobs & Revenue:
"Two major oil field services companies said Wednesday they will relocate workers and equipment in the Gulf of Mexico amid a government-ordered six-month moratorium on deep-water drilling that could soon drive other oil and gas companies to follow suit. The ban could cut oil and natural gas production by as much as 11 percent next year in the deep-water Gulf as projects are put on hold, Barclays Capital analyst Paul Cheng said Wednesday."

Private Employment Grows Slowly; Weekly Claims Drop:
"The number of U.S. workers filing new claims for jobless benefits fell last week, while private employers added jobs in May, further evidence the labor market was improving. The data on Thursday came ahead of the government's closely watched employment report on Friday, which is expected to show non-farm payrolls increased 513,000 in May, buoyed by hiring for the decennial census, after a 290,000 increase in April."

Job Creation Among Small Business' Sputters:
"At the top of the obstacles: weak demand, higher taxes and uncertainty about future costs."

T. Boone Pickens says to brace for $400 Oil!
"If US energy policy continues on its present path, legendary oilman T. Boone Pickens told Cramer on Friday, the price for a barrel of crude could jump more than five times its present level in a decade."