Friday, October 15, 2010 myBiz Blog
MarketWatch 10.17.10 by Tena Madison

 

Gap Goes Global Gap is seeking to expand business into Chinese and Italian markets using its buyers to purchase items that will succeed locally in those markets. The San Francisco based company is expected to increase online business as well making the service available to the Japanese next year. Gap expects these two business models to provide a 6% increase in total sales by 2013. Source: WSJ Marketwatch

Is AOL trying to Yahooooo! But wait isn’t Yahoo way bigger than AOL? Well yes and no. The deal it seems would be contingent up the spinoff of Yahoo’s Asian markets: Alibaba Group (Yahoo’s interest in China) and Yahoo Japan making the company a much smaller acquisition for AOL. Yahoo is currently second in line behind Google for search engines with a market share of about $20 billion where as AOL’s market share is $2 billion. Source: Reuters, PCMag.com

Will Congress enact a moratorium on foreclosures? Currently bank stocks are down as investors react to the ongoing mortgage crisis. JPMorgan, Bank of America and Wells Fargo, three of CNN’s Fortune 500, all fell about 5% according to CNNMoney. State and federal regulators are pursing remedies as some banks institute their own moratoriums. In the meantime foreclosures are on the rise prime as well as subprime. Sources: CNNMoney.com, MarketWatch, Huffington Post