Money in a Minute: Headlines for March 2, 2011

What's Hot

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

How a Mexican Tariff Will Boost the Cost of 6 Common PurchasesFamily

This Free Software Brings Old Laptops Back to LifeMore

How to Protect Yourself From the ‘Can You Hear Me?’ Phone ScamFamily

Report: Walmart to Begin Selling CarsCars

Is Your TV Tracking You? Here’s How to Tell — and Prevent ItAround The House

Trump Scraps FHA Rate Cut — What Does It Mean for You?Borrow

Where to Sell Your Stuff for Top DollarAround The House

11 Staging Tips to Help You Get Top Dollar When Selling Your HomeAround The House

8 Tuition-Free U.S. CollegesCollege

10 Overlooked Expenses That Ruin Your BudgetFamily

4 Car Insurers That Might Raise Rates Even When the Accident Wasn’t Your FaultCars

How to Invest If Trump Kills the ‘Fiduciary Rule’Grow

20 Simple Hacks to Make Your Stuff Last LongerAround The House

12 Surprising Ways to Wreck Your Credit ScoreBorrow

Today in the news: Global markets slip on oil, Republicans propose budget cuts for Wall Street regulators, Cadillac sells more by adding incentives, U.S. manufacturing jumps to record highs, and so do iPhone sales for Verizon.

STOCKS: World markets slip on oil

US Stocks tumbled 1.4 percent yesterday and markets worldwide are following suit today. Britain’s FTSE 100, Germany’s DAX and France’s CAC-40 are all lower in early trading this morning.   In Japan, the Nikkei 225 stock average fell 2.4 percent, and markets in other parts of Asia and Australia are also lower.

It’s all about oil: if crude prices stay high, the fear is that the worldwide economic recovery could be derailed.  Oil gained $2.66/barrel yesterday to just under $100/barrel.

CONSUMER PROTECTION: Regulators: Wall Street reform at risk

If you can’t beat em, starve em.

House Republicans are proposing cutting the budgets of the two  biggest agencies regulating securities – the Commodities Futures Trading Commission and the Securities and Exchange Commission – by $56.8 million and $25 million respectively.  In the case of the CFTC, that amounts to a third of their entire budget.

CNN quotes CFTC chairman Gary Gensler: “We’d have to have significant curtailment of our staff and resources,” Gensler said. “We would not be able to police … or ensure transparent markets in futures or swaps.”

CARS: Cadillac tops Lexus, Mercedes, as BMW leads U.S. luxury sales

What recession? “Cadillac’s U.S. sales rose 70 percent from a year ago,” Bloomberg reports. “It topped Lexus and Mercedes for the first time since June 2005.” It may not be coincidence, though, that Cadillac’s incentive spending also rose 43 percent.

INDUSTRY: Manufacturing grows at fastest pace in 7 years

The good news is that U.S. manufacturing is on a torrid pace. But bad news looms: “U.S. manufacturers expanded at the fastest pace in nearly seven years last month,” MSNBC reports. “But a sudden rise in the price of raw materials could threaten their profits.”

TECH: Verizon iPhone 4 sales are ‘best in history,’ CEO says

Just because iPhone lovers weren’t lining up at Verizon stores doesn’t mean the phone hasn’t sold well. “Verizon sold more iPhone 4’s during its initial launch than any other phone in the carrier’s history,” PC Magazine reports. But, “more than 60 percent of all Verizon iPhone 4 sales so far occurred online.”

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 8 Ways to Take Control of Your Finances — and Be Happier

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,753 more deals!