Results for 2007 August
German Bank SachsenLB, Buffeted in Subprime Crisis, to Be Taken Over by Larger State Bank
From Staff Reports
Germany’s Landesbank Baden-Wuerttemberg will take over SachsenLB, the smaller public-sector German bank that helped the subprime LBBW will pay $342 million as an initial measure, said Guenther Oettinger, the governor of Baden-Wuerttemberg. He said SachsenLB’s owners would transfer…
Hong Kong Metal Shares Surge
From Staff Reports
Aluminum Corp. of China Ltd. (NYSE: ACH) and Jiangxi Copper Co. Ltd. (SHA: 600362) soared to records yesterday (Monday), bolstered by strong fundamentals for the copper market and expectations that the shares could be a favored selection when…
The Three Secret Indicators That Will Pave the Way to Global Profits
By Keith Fitz-Gerald
Contributing Editor
The National Association of Business Economists, or NABE, says its newest study shows that credit risk has taken over for terrorism as the No. 1 business concern. Not surprisingly, trading tanked.
What a stunner.
How this stuff continually makes…
Soybean Prices Approach Record High
By Jason Simpkins
Staff Writer
Soybeans – a key crop used in the creation of certain Biofuels – is nearing record price levels, and may actually hit its second-highest price level ever, according to a Friday report in USA Today.
It would be…
New Home Sales, Factory Orders Both Pick Up in July
By Jason Simpkins
Staff Writer
Sales of new homes and U.S. factory orders for durable goods both picked up in July, a development that could enable Federal Reserve policymakers to persuade themselves that an interest-rate reduction isn’t needed.
The U.S. Commerce Department…
Stocks Post Solid Gains For Week
From Staff Reports
U.S. stocks finished out their calmest week in a month on Friday with a solid gain: The Dow Jones Industrial Average soared 142.99 points to close at 13,378.87. The Standard & Poor’s 500 Index rose 16.87 points to…
Financial Institutions in Asia Feel Subprime Shock
By Jason Simpkins
Staff Writer
The state-run Bank of China and its Hong Kong subsidiary last week stunned investors by revealing a combined $11.25 billion in holdings related to the U.S. subprime debt market, the largest potential exposure reported by an Asian…
Google Planning $8 Billion Worldwide ‘Gphone' Launch
From Staff Reports
Search-engine giant Google Inc. (Nasdaq: GOOG) is believed to be only weeks away from the worldwide launch of its “Google Phone,” or Gphone, service – a venture it’s planning to ante up as much as $8 billion to pursue.…
Are Your Investments Third Class?
By Martin Hutchinson
Director of Global Investing Research
Brazil President Luis Inacio “Lula” da Silva announced this week that “Brazil is not afraid” of the subprime mortgage crisis. Indeed, he said, it’s purely a U.S. problem, caused by people trying to make…
Countrywide CEO Still Gloomy After $2 Billion Capital Infusion
By Mike Caggeso
Staff Writer
Countrywide Financial Corp. CEO Angelo Mozilo said yesterday (Thursday) that the housing market isn’t improving and could sink the United States into a recession.
In answering questions on cable-TV channel CNBC, Mozilo said there is…
Click here for audio and video featuring your favorite Money Morning contributors.
RSS