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InterMune shares soared over 60% after hours after it came closer to FDA approval of its experimental treatment for a fatal lung disease. An advisory panel voted to approve the drug despite questionable effectiveness, given that the disease has no cure and patients need reason to hope.

Continue reading InterMune Shares Soar After FDA Panel Backs Lung Disease Drug

InterMune Shares Soar After FDA Panel Backs Lung Disease Drug originally appeared on DailyFinance on Tue, 09 Mar 2010 19:15:00.

The other shoe is about to drop at BusinessWeek. Shortly after taking over the magazine, news giant Bloomberg pruned its staff by a reported 30% and made it known that more downsizing would come sometime before May. Sources say that round will begin Thursday.

Continue reading BusinessWeek Prepares for Round Two of Layoffs

BusinessWeek Prepares for Round Two of Layoffs originally appeared on DailyFinance on Tue, 09 Mar 2010 17:06:00.

Stocks celebrated the one-year anniversary of the start of their greatest rally since FDR was president by posting modest gains Tuesday. The S&P 500 has had an epic rally over the last 52 weeks, climbing more than 68% from a 12-year low. The Dow is up more than 60%, while the Nasdaq is up 85%.

Continue reading Bull Market Celebrates First Birthday With Modest Gains

Bull Market Celebrates First Birthday With Modest Gains originally appeared on DailyFinance on Tue, 09 Mar 2010 16:50:00.

The notorious Hollywood starlet is suing online broker E-Trade for $100 million for violating her privacy in a TV spot that aired during the Super Bowl. Saying she's a first-name-only household icon, Lohan says her name was used unlawfully in a commercial.

Continue reading Lindsay (Lohan) Sues E-Trade For $100 Million Over Super Bowl Spot

Lindsay (Lohan) Sues E-Trade For $100 Million Over Super Bowl Spot originally appeared on DailyFinance on Tue, 09 Mar 2010 16:36:00.

Its reputation already battered, Japanese automaker Toyota reportedly plans to add 2004-2009 Priuses to its recall list to keep floor mats from pinning down accelerator pedals. The news comes a day after a highly publicized acceleration incident involving a Prius hybrid sedan in California, Toyota Motor (TM) said Tuesday 2004-09 Prius models will be subject to a future recall to keep floor mats from pinning down accelerator pedals.

Continue reading Toyota to Add Prius to Floor Mat Recall List

Toyota to Add Prius to Floor Mat Recall List originally appeared on DailyFinance on Tue, 09 Mar 2010 15:20:00.

It's almost always better for the U.S. dollar to be strong than weak versus the world's other major currencies. Nevertheless, a stronger dollar does present an economic hurdle or two for the world's largest economy.

Continue reading Stronger Dollar Is Good For Economy ... Except Where It's Bad

Stronger Dollar Is Good For Economy ... Except Where It's Bad originally appeared on DailyFinance on Tue, 09 Mar 2010 15:19:00.

Faced with costly in-vitro fertilization treatments and few financing options, couples struggling with infertility are turning to social networking and the web to raise the cash they need.

Continue reading Baby or Bust: Infertile Couples Turn to the Web to Raise Funds for IVF

Baby or Bust: Infertile Couples Turn to the Web to Raise Funds for IVF originally appeared on DailyFinance on Tue, 09 Mar 2010 14:30:00.

Chevron, the second-largest U.S. oil company, says it will eliminate 2,000 jobs this year with more job cuts expected in 2011.

Continue reading Chevron Cuts 2,000 Jobs

Chevron Cuts 2,000 Jobs originally appeared on DailyFinance on Tue, 09 Mar 2010 12:37:00.

Vowing to "forever change the Internet," Cisco today announced a new ultra-heavy-duty router that offers network speeds 12 times faster than its nearest competitor. CEO John Chambers says it's aimed at the exploding market for online video.

Continue reading Cisco Unveils Its New Superfast Network Router

Cisco Unveils Its New Superfast Network Router originally appeared on DailyFinance on Tue, 09 Mar 2010 12:05:00.

InterMune trading was halted Tuesday, as a Food and Drug Administration panel reviews the pharma's experimental drug pirfenidone, intended to treat idiopathic pulmonary fibrosis, a fatal disease in which the lungs scar without discernible cause.

Continue reading InterMune Trading Halts, Pending FDA Review of Respiratory Drug

InterMune Trading Halts, Pending FDA Review of Respiratory Drug originally appeared on DailyFinance on Tue, 09 Mar 2010 11:49:00.

The Great Recession was marked by a dearth of credit, but it never lacked for buzzwords. Now comes the "new mix," which argues that international trade -- especially with developing markets -- will replace consumer spending as the basis for growth. It's a case worth considering.

Continue reading How Export-Led U.S. Growth Could Provide Fuel for Equities

How Export-Led U.S. Growth Could Provide Fuel for Equities originally appeared on DailyFinance on Tue, 09 Mar 2010 11:30:00.

The bankrupt mall operator General Growth Properties, which has been fending off an unsolicited $10 billion bid from rival Simon Property Group, may now have a viable alternative. The company has secured nearly $4 billion from Fairholme Capital and Pershing Square to recapitalize its balance sheet.

Continue reading General Growth Nabs $4 Billion to Fend Off Simon

General Growth Nabs $4 Billion to Fend Off Simon originally appeared on DailyFinance on Tue, 09 Mar 2010 11:20:00.

Preston White needed $5,000 to help his daughter relocate after serving in Iraq. Denied by his bank, he got his cash (but only $4,000) at his local Cash Store via a one-month loan. With fees and interest, he'd need to repay %5,268.50 -- giving him a 375% APR. But that's not the end of the story.

Continue reading Costly Cash: How a Retiree Wound Up With a 375% Loan

Costly Cash: How a Retiree Wound Up With a 375% Loan originally appeared on DailyFinance on Tue, 09 Mar 2010 11:00:00.

National office vacancy rates are likely to top 18% in 2010, reaching their highest levels in decades and forcing landlords to negotiate more concessions with tenants, according to a new study by Grubb & Ellis.

Continue reading Office Vacancies Still Rising, Should Peak in 2011

Office Vacancies Still Rising, Should Peak in 2011 originally appeared on DailyFinance on Tue, 09 Mar 2010 11:00:00.

For years, members of a Kansas Baptist Church have held protests at the funerals of soldiers, carrying signs with slogans such as "God Hates You," "Thank God for Dead Soldiers" -- protests against America's tolerance of homosexuality. Now the Supreme Court must decide if this peculiar form of hate speech is protected by the First Amendment.

Continue reading Legal Briefing: Are Hateful Funeral Protests Protected Speech?

Legal Briefing: Are Hateful Funeral Protests Protected Speech? originally appeared on DailyFinance on Tue, 09 Mar 2010 10:54:00.

Millions of Americans are facing the worst money problems imaginable, but these same conditions are a boon for pawn shops and payday lenders. Borrowers get short-term loans at these stores using some asset as collateral -- their paycheck, or a car, or jewelry. That access to cash helps, but it comes at a cost that can be crippling.

Continue reading Costly Cash: The Great Recession Is Paying Off for Pawnshops and Payday Lenders

Costly Cash: The Great Recession Is Paying Off for Pawnshops and Payday Lenders originally appeared on DailyFinance on Tue, 09 Mar 2010 10:30:00.

Job prospects for the nation's unemployed are modestly better for the second quarter and some critical industries are reporting notable gains, according to the latest employment outlook survey from Manpower Inc.

Continue reading Employment Outlook Gets a Small Boost

Employment Outlook Gets a Small Boost originally appeared on DailyFinance on Tue, 09 Mar 2010 10:30:00.

New Jersey Transit head James Weinstein announced 25% fare increases, record layoffs and service cuts as he tries to put the agency's fiscal house in order. Public transit chiefs around the country are fighting similar battles to make ends meet -- and they're losing.

Continue reading U.S. Public Transit Riders Face Bumpy Road of Fare Hikes, Service Cuts

U.S. Public Transit Riders Face Bumpy Road of Fare Hikes, Service Cuts originally appeared on DailyFinance on Tue, 09 Mar 2010 10:00:00.

On the same day Toyota Motor officials sought to debunk the theory that its cars' electronics were the source of their sudden unintended acceleration problems, the driver of a Toyota Prius dialed 911 on Monday to say that his car was speeding uncontrollably at 90 mph down a San Diego-area freeway.

Continue reading Runaway Prius Shows Toyota Hasn't Solved Acceleration Problem

Runaway Prius Shows Toyota Hasn't Solved Acceleration Problem originally appeared on DailyFinance on Tue, 09 Mar 2010 09:47:00.

It looks like shoppers have come out of hibernation. The spring sales season is off to a sprightly start, with the first week of March posting the best weekly sales gains in over two years -- 3.4% higher than the same time last year and 2.9% over the previous week.

Continue reading March Retail Sales Start Off Stronger Than Expected

March Retail Sales Start Off Stronger Than Expected originally appeared on DailyFinance on Tue, 09 Mar 2010 08:53:00.