By Mike Caggeso Associate Editor The parking lots at Wal-Mart Stores Inc. (WMT) retail locations could get much bigger, as the company is in talks with automakers to sell hybrid and plug-in automobiles, H. Lee Scott, the company's chief executive officer, said to store managers and suppliers Wednesday. "Maybe there isn't room for Wal-Mart in […]
Archives for January 2008
January 2008 - Page 4 of 15 - Money Morning - Only the News You Can Profit From
Saudi Arabia Contemplates a $6 Billion Sovereign Wealth Fund; Kuwait's Looking to Scoop European Banks
By Mike Caggeso Associate Editor Saudi Arabia, the world's biggest oil exporter, is considering joining its Middle East peers by setting up a sovereign wealth fund (SWF) with an initial investment of about $6 billion, Mohammad al-Jasser, vice governor of Saudi Arabia's central bank, said. The vice governor didn't reveal many specifics of the plan, […]
Three Ways to Profit in the Face of Surging Inflation
By Martin Hutchinson Contributing Editor When he slashed the Federal Funds Rate by three-quarters of a percent in an emergency move Tuesday morning, U.S. Federal Reserve Chairman Ben S. Bernanke said he "expected inflation to moderate in coming quarters." It's quite beyond me why he has such an expectation: Commodity prices have zoomed since he […]
Fed Rate Cuts May Bode Well for the Greenback
By Jason Simpkins Associate Editor Just one day after the U.S. Federal Reserve surprised the global securities markets with its biggest rate cut in nearly 25 years, investors questioned whether the central bank action will do further damage to the downtrodden dollar or give the greenback a new lease on life. The answer depends largely […]
Global Investing Roundup
Starbucks Dips to $1 Coffee; Toyota May Etch GM in 2007 Sales; L'Oreal Smells a Sweet Deal; Record Oil Fuels ConocoPhillips Earnings; Carrefour Rings Up a Strong 4Q; Red Hot Egypt Economy to Grow; China Allows Banks to Invest in Singapore; eBay CEO Ends 10-Year Reign Faced with increasing competition from McDonald's Corp. (MCD) and […]
Dow Gains 300 After 600-Point Swing
From Staff Reports It was another wild day on Wall Street. The Dow Jones Industrial Average followed up Tuesday's manic trading with an equally surprising rebound yesterday (Wednesday). After dropping more than 325 points in morning trading, the 30-stock market bellwether reversed course and posted a gain of nearly 300 points for the day – […]
Motorola's Stock Drop on Sharp Fourth-Quarter Declines
By Mike Caggeso Associate Editor Shares of the United State's largest mobile-phone maker, Motorola, Inc. (MOT) dropped $2.31 [18.75%] to $10.01 in trading yesterday (Wednesday) after the company announced fourth-quarter profit was down 84% from sales declines of its phones and handsets. Also in the final three months, sales for the Schaumburg, Ill.-based company dropped […]
Bank of China Denies Reports of Loss, Affirms 2007 Was a Profitable Year
By Jennifer Yousfi Managing Editor Bank of China Ltd. (PINK:BACHF) is denying earlier claims that it would report a loss for 2007 due to a potential $8 billion in write-downs resulting from exposure to subprime U.S. mortgage assets. "The Directors wish to clarify that the views expressed in the article are unfounded, and the Bank […]
Middle East ETFs Will be Available "This Year"
By Mike Caggeso Associate Editor Several Middle East markets are expected to launch exchange-traded funds (ETFs) this year, according to a senior official at Morgan Stanley (MS), opening the door to the region's very lucrative, fast-growing economies. "Most exchanges in the region would like ETFs, even Saudi Arabia. The region sees ETFs as an appealing […]
Oil Sinks, Gold Rallies
By Jason Simpkins Associate Editor Oil retreated again yesterday (Tuesday) on mounting recession fears while gold bounced back from a three-week low on as the Federal Reserve slashed interest rates by 75 basis points. After falling as low as $86.11 in early morning trading, light sweet crude for February delivery settled at $89.85 a barrel […]