By Jason Simpkins Last week, (July 20) Chevron Corp. said it would challenge a $290 million back tax claim issued against the Caspian Pipeline Consortium by Russia’s Federal Tax Service. This is yet another attempt by President Vladimir Putin to seize control over all aspects of energy production and transportation within Russia. The Caspian Pipeline […]
Archives for September 2007
September 2007 - Page 5 of 12 - Money Morning - Only the News You Can Profit From
Super-Sized Rate Cut Spurs Super-Steep Rally; Dow Soars Nearly 336 Points
By Jason Simpkins Staff Writer When it came right down to it yesterday (Tuesday), U.S. investors awaiting a central bank decision on short-term interest rates investors were expecting the standard Value (investing) Meal. But U.S. Federal Reserve policymakers surprised them with the Happy Meal instead. The result: A Super-sized stock surge, representing the biggest single-day […]
Tough Talk Over Iran Could Lead to a Total Withdraw
By Jason Simpkins Staff Writer Tensions continue to escalate between France and the Islamic Republic of Iran. Months after President Nicolas Sarkozy followed the lead of the United States in calling for a tougher line against Iran, France’s Foreign Minister has gone a step further. One of France’s most popular politicians, Bernard Kouchner indicated Sunday […]
Brazil Aims for 5% Annual Growth
From Staff Reports Brazil’s retail sales rose 9.2% in July from a year ago, said to the national statistics agency. According to a report released Tuesday in Rio de Janeiro, the gain in retail, supermarket, and grocery sales was less than the revised 11.3% increase in June. Brazil's economy expanded 5.4% in the second quarter […]
Broadcasters Cite Money Morning Stories on So-Called Doomsday Trade
From Staff Reports Over the past week, several radio broadcasters have cited Money Morning’s reporting on the $900 million ‘Mystery Trade,’ which continues to garner significant attention. When ‘Air America Radio’s’ Radio’s popular new coast-to-coast program “Clout” was researching a story on the ‘Mystery Trade’ in Standard & Poor’s 500 Index options S&P 500 Index […]
Taking a Swing at Rate Cut Opportunities
By Keith Fitz-Gerald Contributing Editor Some days you’re the bug and some days you’re the windshield. Yesterday (Tuesday), there were a whole lot of bugs in the guise of the short-sellers who got squashed on Ben Bernanke’s windshield; they covered their positions at any cost and then limped into the hills to hide. Trading volume […]
India's Richest Realtor Lobbies For a Rate Decrease Despite Strong Growth
By Mike Caggeso Staff Writer A decline in housing prices in India have led billionaire investor Kushal Pal Singh, the chairman of DLF Ltd., India’s biggest real-estate developer, to call on the Reserve Bank to lower interest rates. According to Reuters India, Singh told reporters that “because of high mortgage rates and monetary policy, the […]
Will This Bernanke's Put Force us to Buy Real Ones?
By Martin Hutchinson Director of Global Investing Research After weeks of water-cooler speculation, the U.S. central bank’s policymaking Federal Open Market Committee yesterday (Tuesday) slashed the benchmark Federal Funds rate by half a percentage point, to 4.75%. It was the first reduction in U.S. interest rates in four years. This strategy – of sharply cutting […]
China Sends Pork Packing, Escalating U.S. Trade Dispute
By Jason Simpkins Staff Writer Clearly agitated by controversy related to the safety of its exports, China is striking back. Early this week, Beijing rebuffed shipments of both Canadian and American meat products, citing safety concerns. Shipments of pork kidney from the United States and spare ribs from Canada were rejected, after Chinese authorities found […]
Campbells Potential Godiva Sale Joins Subsidiary-Selling Bandwagon
By Mike Caggeso Staff Writer Sources inside Campbell Soup Co. (CPB) say the company is seeking to sell its Godiva chocolate division for $1 billion to $1.5 billion, Bloomberg News reported Friday. On Aug. 9, the world's largest soup maker said it was contemplating the fate of Godiva, which makes up about 7% (or $7.3 […]