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Financial News Network
September 21, 2012 AT 6:46 PM
Good morning, You are watching The Financial News Network on FNNO.com. I'm Geoffrey Parrish reporting on what's in the news today, Septemeber 10th, 2012. The WALL STREET JOURNAL reported that the solar power business is rapidly expanding in the U.S., but the growth isn't coming from U.S. solar-panel manufacturing. Instead, it is in installations of largely foreign-made panels, whose falling price has made solar more competitive with other forms of power. According to Reuters, Glencore laid out its raised $36B all-share bid for Xstrata (XSRAY) today, warning it would not improve the terms again. Reuters also reported that stretches of undeveloped land in some of the most depressed housing markets in the U.S. are in high demand, and money managers such as BlackRock (BLK), Angelo Gordon & Co and Starwood Capital, are beginning to cash-in on so-called shovel-ready residential land-tracts with most of the pre-construction and zoning approvals already in place. Today BLOOMBERG reports that U.S. technology companies have pushed their dividends to the highest level on record, a signal to investors that profit growth in the industry is slowing. And finally, according to Bloomberg, Toyota Motor (TM) will struggle to regain its former dominance as it deals with improved competition worldwide. While the company's profits are rising, and it's on pace to regain the global sales lead this year, its shares aren't as highly valued as they were before the crises and the resurgence of U.S. rivals. That's what's been in the news today. For more on this and other business world updates, follow us on Twitter @fnnonline, and for more in depth coverage, check out our website, FNNO.com.