2008 January
Analysts Cut India's 2008 GDP Forecast; Businesses Still Attracted to the Market
By Mike Caggeso Associate Editor India's poor domestic infrastructure, high population and threatening levels of unemployment will slow the country's real gross domestic product [GDP] growth, Moody's Economy.com said in a report. It forecasted India's real GDP to slow to 8.0% in 2008, down from the 8.8% it posted in 2007, Thomson Financial reported. Other [...]
How Buying Like Warren Buffett Can Boost Your Portfolio Profits
By Jason Simpkins Associate Editor In investing, it's a taboo practice to follow the leader. Unless that leader is Warren Buffett. An old investing adage holds that following the masses is a formula for generating stock-market losses. Independent thinking is the key to superior returns. The exception is Buffett, the so-called "Oracle of Omaha," the [...]
Fourth-Quarter Earnings Show How U.S. Blue-Chips Weather a Staggering Economy
By Mike Caggeso Associate Editor A handful of big-name U.S. companies released fourth-quarter earnings Thursday and Friday, and each tells a story about how it was affected by the slowing U.S. economy and what it's doing to push profits. Caterpillar Inc. (CAT) posted an 11% growth in quarterly earnings – like General Electric Co. (GE) [...]
Third Time is the Charm for Carlsberg and Heineken
By Jason Simpkins Associate Editor Carlsberg A/S and Heineken NV agreed to buy Scottish & New Castle Plc last week for $15.4 billion. For their money both companies will establish a firm presence in emerging markets. Carlsberg will pay 54.5% of the total cost and Heineken will pick up the remainder. Carlsberg is paying extra [...]
South Africa's Power Problems Send Commodity Prices Soaring
By Jennifer Yousfi Managing Editor Gold and platinum futures reached new highs on news that South Africa's state-owned utility Eskom Holdings Ltd. (OTC:ESKAY) was not able to keep up with demand, resulting in power shortages that curtailed business operations. After numerous unscheduled cuts in the power supply, Eskom was forced to request its 138 largest [...]
Rogue Trader Costs Societe Generale $7.2 Billion
By Jason Simpkins Associate Editor Societe Generale SA (OTC: SCGLY), France's second largest bank by market value, said yesterday (Thursday) that it incurred a $7.2 billion trade loss from an "exceptional fraud" perpetrated by a rogue trader. It was the biggest trading loss ever incurred by a bank, Bloomberg News reported. The trader, Jerome Kerviel, [...]
A Dozen Ways to Beat the Dow: Twelve Ways to Profit No Matter Which Way the Market Swings
By William Patalon III Executive Editor Money Morning/The Money Map Report Manic trading sessions like the one Wednesday – the Dow Jones Industrial Average endured a wild 625-point swing on its way to a 299-point gain – can be very tough on an investor's psyche. You don't know which way the market will move next. [...]
Global Investing Roundups
China Economy Swells at 13-Year High; Wii Sales Trigger Nintendo Target Raise; Nokia Pockets 67% Profits in 2007; Average Interest Rates Lowest Since 2004; Morgan Stanley Slashes 1,000 Jobs ; Gold Breaks $910, Platinum Breaks Record; Tata Motors Eyes U.S. Market; Lehman Bros. to Cut 140 Traders China's economy grew at an 11.2% clip in [...]
First Annual Drop in Home Prices Since the Great Depression
By Jason Simpkins Associate Editor Sales of existing homes fell more than forecast in December, bringing a somber end to the biggest annual slump in a quarter century and the first decline in prices since the Great Depression. Purchases of existing homes dropped 2.2% to annual rate of $4.89 million, the National Association of Realtors [...]
White House, Congress Reach Agreement on Economic Stimulus Package
By Jennifer Yousfi Managing Editor President Bush and House leaders announced they had come to an agreement on an economic stimulus package that would give most taxpayers refunds of $600 to $1,200 – and more if they have children – by as early as May. In addition to rebate checks for 117 million working families, [...]
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