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...Sundberg says that with the IRS intensifying its hunt for alleged tax evaders, Swiss banks, fearful of potential legal problems, are closing the accounts of resident Americans and refusing to open new ones. Both UBS and Switzerland's second largest bank, Credit Suisse, have told Americans to move their money into specially created units registered in the U.S., or lose their accounts. Many smaller Swiss banks are simply turning away Americans. (See pictures of the top 10 scared traders...
...minivans, has grown in recent years, but the previous version of Equinox underperformed against Toyota's Highlander, Honda's Pilot and Mazda's CX9. The 2010 Equinox has a better, functional interior, more power and significantly better ride and handling than the old version, but it is an open question whether the improvements are enough to motivate motorists to trade in their Japanese or Korean models, which still dominate this segment...
...simmering and families spending summer days at the shore, most customers aren't exactly in the Christmas spirit. So what convinced Sears, which has seen nothing but annual same-store sales declines at both its namesake and Kmart stores over the past four years, that skeptical shoppers want to open up their wallets for Christmas gifts now? "After the last holiday season, customers told us that they wish they had seen some of our merchandise earlier," says Natalie Norris-Howser, a Sears spokeswoman. "People are buying earlier today. Also, customers have grown accustomed to the Christmas-in-July terminology...
...country’s rapid economic growth in the past decade has been fueled by a transition to the open market, and for the country to continue at this pace, it needs more open market reforms. The economy is still hampered by strict government regulation and distorted by enormous government spending, and though regulation and spending are understandable reactions to the global economic crisis of the last year, Indians were rightly expecting the continuation of the reform agenda in this year’s budget...
...When July 6 arrived, every station carried the budget address, delivered by finance minister Pranab Mukherjee. And the nation was in for quite a surprise. While Mukherjee did announce significant fiscal stimulus plans, expanding rural employment, and development programs, he did not mention any specific open-market reforms, such as raising foreign investment levels, divestment of public enterprise, or deficit reduction. After Mukherjee had signaled to the entire nation that he would follow through on these reforms, the speech was a major disappointment...