Archives for August 2007

August 2007 - Page 3 of 11 - Money Morning - Only the News You Can Profit From

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 their holdings to LBBW. SachsenLB will be part of the state-run bank in early […]

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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 investors in China gain direct trading access to the Hong Kong Stock Exchange starting […]

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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 headline news is beyond me. It’s hardly insightful. What is enlightening, […]

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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 the highest soybean prices have climbed since 1983, says the U.S. Department […]

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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 said Friday that new home sales rose 2.8% in July after falling 4% […]

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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 close at 1,479.37, and the tech-laden Nasdaq Composite Index gained 34.99 points to close […]

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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 company and further proof that the American mortgage crisis has evolved into a […]

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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. And Google has started talks with key wireless-service providers in India in the […]

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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 a lot of “third-class money.” That’s a concept so beautiful, and so inviting […]

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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 a “very serious situation going on” in the U.S. housing market. “This environment is certainly […]

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