Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report The Nasdaq Stock Market Inc. (NDAQ) is the latest of the world's major stock exchanges to become part of the trend toward worldwide consolidation. It's a trend that we advised you to watch, and that we've been following quite closely. But unlike some of its trading […]
Archives for December 2007
December 2007 - Page 4 of 11 - Money Morning - Only the News You Can Profit From
Will Luxury Brands Live to Regret Spurning Tata?
By Jason Simpkins Associate Editor Prominent Indian businessmen and government officials have taken exception to several implications from U.S. companies that Indian corporations are unworthy of acquiring American brands. Most of the complaints involve Tata Group, one of India's largest and most respected conglomerates. New York-listed Orient-Express Hotels Ltd. (OEH), a purveyor of luxury accommodations, […]
U.K. Markets Mirror U.S. Woes
By Jennifer Yousfi Managing Editor London stocks plunged yesterday (Monday) following Wall Street's lead from Friday. The sell-off crossed all industries with only a handful of stocks in the FTSE 100 Index showing gains for the day as the index fell 1.9% for the day. After U.S. Consumer Price Index data was released on Friday, […]
Wheat Futures Break Into Double Digits, Stoking Inflation Fears
By Mike Caggeso Associate Editor Chicago wheat futures eclipsed $10 a bushel for the first time yesterday (Monday), fanning the flames of continued inflation fueled by higher commodity prices on top of a falling dollar. The recent surge in wheat futures – up 30 cents (or 3.1%) to $10.095 – was stoked by wheat surpluses […]
Walls Closing In On The Fed As Inflation Rises
By Jason Simpkins Associate Editor Consumer prices rose a seasonally adjusted 0.8% in November, the sharpest increase in more than two years, according to the Labor Department's Consumer Price Index. Rising consumer prices indicate the threat to the U.S. economy posed by inflation has increased greatly since the Federal Reserve began cutting interest rates with […]
Angry Investor Sues UBS over U.S.-Connected Subprime Write-Downs
By Mike Caggeso Associate Editor William Wesney, an upset UBS AG (UBS) shareholder, is suing the Swiss banking giant and its officers, arguing that investors were misled about write-downs related to the faltering U.S. subprime mortgage market. And he may not be alone. Reuters reported that Wesney is seeking class-action status on the suit, which […]
$20 Billion LBO of Clear Channel Delayed
By Jennifer Yousfi Managing Editor Late last week (Wednesday), Clear Channel Communications Inc. (CCU) released a statement that the firm had extended the date of the pending merger agreement shareholders had approved in late September. The leveraged buyout (LBO) deal with CC Media Holdings, valued at $39.20 per share, will take the now publicly traded […]
Citigroup Moves $49b in Assets to Own Balance Sheet; Could Be Last of the "SIV Problem"
By Jennifer Yousfi Managing Editor In a bold move by newly named Chief Executive Officer Vikram Pandit, Citigroup Inc. (C) will move $49 billion in assets from seven structured investment vehicle (SIV) funds onto its balance sheet. "Our team has made great progress managing the SIVs in a very difficult environment. After considering a full […]
Money Morning's Three-Minute Market Review: How Last Week's Action is Shaping This Week's Market
By William Patalon III Executive Editor Money Morning/The Map Report Market/Index Previous Week (12/07/07) Current Week (12/14/07) YTD Change Dow Jones Industrial 13,625.58 13,339.85 7.03% NASDAQ 2,706.16 2,635.74 9.13% S&P 500 1,504.66 1,467.95 3.50% Russell 2000 785.52 753.93 -4.28% Fed Funds 4.50% 4.25% -100 bps 10 yr Treasury (Yield) 4.12% 4.23% -48 bps Although the […]
Soros & Co. Get In On The Ground Floor of Indian Infrastructure Development
By Jason Simpkins Associate Editor Shares of GMR Infrastructure Ltd. rose in Mumbai yesterday (Thursday), after the company sold $1 billion of stock to 49 investors – including billionaire investor George Soros, U.S. banking giant Citigroup Inc. (C), and mutual-fund manager T. Rowe Price Group Inc. (TROW). GMR is one of the world's fastest-growing infrastructure […]