Financing for auto purchases and school loans led to a $7.4 billion increase in U.S. consumer credit in the month of September. Credit was initially predicted to rise by only $5.2 billion, according to a Bloomberg News survey. The increase followed a $9.7 billion decrease in August. Though financing rose […]
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Uncertain outlook for HP after Autonomy acquisition
Technology giant Hewlett-Packard Co. closed a $12 billion deal to acquire British-based software company Autonomy Corp. on October 3, raising skepticism about the company’s direction and future. Autonomy provides services and technological capabilities in looking through unstructured data while HP specializes in technology hardware. “HP seems to go back and […]
Sales Increases in U.S. Auto Industry
U.S. automakers reported big sales gains in September, and industry analysts say they expect continued growth for the rest of the year. The “Big 3” Detroit automakers all revved up sales last month, with G.M., Ford, and Chrysler reporting 20 percent, 9 percent, and 27 percent sales growth respectively. Curt […]
Global 450 chooses Albany home to usher in new era of computer tech
The Global 450 consortium announced plans last week to invest $4.4 billion for computer chip research at several locations in New York. Computer tech giant IBM is the head company, promising to invest $3.6 billion in the project. Intel agreed to move its East Coast headquarters to Albany, and the […]
New jobs bill unlikely to pass
In early October, President Barack Obama made it clear that he wanted a vote on his new American Jobs Act by the end of the month. With the economy suffering and the unemployment rate holding steady at around nine percent, many agree that something must be done. John Shea, an […]
Unilever speaks to terpAMA about business, goals
Representatives from Unilever spoke to terpAMA Tuesday evening about its unique working environment and its sustainability goals for the future. “Our goal is to double the size of business while reducing our carbon footprint,” said Greg Will, a category management team leader at Unilever. Unilever’s top three […]
Business Golf Club’s sees great turnout for Range Invitational
More than 30 students spent Thursday evening honing golf skills and hitting some balls for free as the sun set over the University of Maryland golf course. The Business Club’s Range Invitational in an important event to the club, and had a great turn-out Thursday Sept. 29. Co-President […]
CEO of Swiss Bank UBS Resigns
The CEO of UBS, head of Switzerland’s largest bank, resigned last week after the company discovered that a rogue trader in the firm had gambled away over $2 billion in investments. The British police arrested UBS employee Kweku Adoboli on September 15 on charges of fraud and false accounting. At […]
Moody’s downgrades U.S. banks over threat of bailout blocks
Moody’s Investors Service downgraded the credit ratings of three U.S banks Sept. 21, citing concerns over the federal government’s Dodd-Frank financial reform law cutting “too big to fail” company bailouts. Moody’s, one of the big three credit rating agencies in the world, chose to downgrade the credit ratings of Bank […]
Boeing delivers first Dreamliner
In a fiercely airplane competitive market, Boeing has secured an edge over its French competitor Airbus with the delivery of the first 787 Dreamliner. After three years of delay, Boeing’s latest model was delivered to All Nippon Airways in Tokyo. The 787 Dreamliner is revolutionary for the airline industry. As […]