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That's to say, before you run out to start an import-export business, take a look at some other numbers in the shipping world that are far less robust. Shipping by container, typically finished goods, remains troublingly cheap, a sign that consumer products are still not flowing between continents. The price for a 20-foot equivalent unit (TEU) container on an East Asia-to-Europe voyage is reportedly currently maxing out at a paltry $500. Though the pace of the drop in rates has slowed, there are signs that charter prices have still not bottomed out, having dipped below...
What's going on here? Economists say that even in this downturn, financial services has proven to be more recession-proof than other lines of work. Consumers can put off buying a new car or going on vacation. But most people will still continue to pay their mortgage, write checks and deposit money at the bank. "The fact that the financial-services industry is declining this much is startling," says Joel Prakken of research firm Macroeconomic Advisers, which puts together ADP's employment report...
Also, despite the messes in the mortgage market and elsewhere, many remain optimistic that the financial industry in the U.S., unlike, say, auto-manufacturing, will rebound. As troubled large banks have shed employees, a number of smaller firms and international competitors have moved in to snap up workers. And Keith Leggett, chief economist of the American Bankers Association, says new banks are continuing to be formed, even as other fail...
...Lehman's U.S. investment bankers. Japanese bank Nomura has also been hiring here. Alan Schwartz, who was formerly the head of the failed investment bank Bear Stearns, recent landed a job at one of Wall Street's so-called boutiques, Guggenheim Partners. He's not alone. Recruiters say not only was the job downturn in the financial industry shallower than the rest of the economy but it appears to be turning earlier as well...
...public plan of this magnitude could be a powerful force to contain costs. But it could also destroy the private insurance industry, while doctors and hospitals say its lower fees would drive them out of business. Their combined opposition to this single issue could sink the chances of any health-reform bill's passing. What's more, many conservatives point out that the government can't afford the Medicare program it already has, so why create...