Archives for February 2008

February 2008 - Page 10 of 15 - Money Morning - Only the News You Can Profit From

Pimco Bets on Citigroup Bonds

From Staff Reports Year to date, shares of the largest U.S. bank by assets, Citigroup Inc. (C) have shed more than 10% of their value, but some investors still think the beleaguered bank is a smart investment. Pacific Investment Management Co., more commonly known as PIMCO, and Calvert Asset Management Co. find the bank’s corporate […]

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Hasbro Announces New CEO, Better-Than-Expected Profits

By Jennifer Yousfi Managing Editor Hasbro Inc. (HAS), the world's second-largest toymaker, announced that company Chief Operating Officer Brian Goldner, 44, will succeed current Chief Executive Officer Alfred J. Verrecchia when Verrechhia steps down in May. The company also reported fourth-quarter results that exceeded analyst estimates. At the time of the changeover, Verrechhia, who will […]

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S&P Financials Could Post up to $175 Billion in Write-Downs

By Mike Caggeso Associate Editor Before the dust settles from the imploding credit market, financial firms in the S&P 500 will have absorbed between $125 billion and $175 billion total in mortgage and credit-related write-downs, an analyst at The Bear Stearns Cos. Inc. (BSC) said. That means most of the credit carnage is over, as […]

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Buffett Offers to Bail Out Bond Insurers, Markets Rally

By Jason Simpkins Associate Editor Warren Buffett, entrepreneur and chairman of Berkshire Hathaway Inc. (BRK.A, BRK.B), offered yesterday (Tuesday) to assume responsibility for $800 billion of municipal bonds guaranteed by MBIA Inc. (MBI), Financial Guaranty Insurance Company, and Ambac Financial Group Inc. (ABK). "We offered to take over the liabilities for the whole $800 billion […]

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Once an Exporter of Products, China Now Leading Global Exporter of Inflation

By Jason Simpkins Associate Editor Cheap raw materials and ultra-cheap labor helped China earn its reputation as the supplier of low-cost products to the world, but rising domestic prices have touched off an inflationary epidemic that is infecting the U.S. economy. "China has been the world's factory and the anchor of the global disconnect between […]

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Global Investing Roundups

Motorola Makes Merger Moves; AIG in Accounting Trouble; Societe General Offers Bargain Shares; Delta and Northwest Close to Merger; Emirate International Plans $5 Billion Algiers Investment; Venezuela Changes Banks; Australia Raises Inflation Concerns; Gazprom Gives Ukraine Slight Reprieve Motorola Inc. (MOT), the third largest mobile phone maker, is in talks to combine with Nortel Networks […]

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Yahoo Board Rejects Microsoft Bid; Surveys Options

By Jason Simpkins Associate Editor Yahoo! Inc. (YHOO) formally rejected Microsoft Corp.'s (MSFT) $44.6 billion takeover offer, yesterday (Monday). At the same time, speculation involving possible tie-ups with other industry leaders such as Time Warner Inc.'s (TWX) AOL and Google Inc. (GOOG) resurfaced. After 10 days of review, Yahoo's board unanimously decided that the $31 […]

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Dow Swaps Out Altria, Honeywell for Bank of America, Chevron

By Jennifer Yousfi Managing Editor In the first changes to the 111-year old blue-chip stock index since April 2004, Bank of America Corp. (BAC) and Chevron Corp. (CVX) will replace Altria Group Inc. (MO) and Honeywell International Inc. (HON) in the Dow Jones Industrial Average. "While people follow the S&P 500 to get a broad […]

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Abu Dhabi SWF and UBS Form $500 Million Joint Venture

By Mike Caggeso Associate Editor UBS AG (UBS), Europe's largest bank, and Abu Dhabi Investment Co. (ADIC), the United Arab Emirate's state-controlled sovereign wealth fund, announced they will start a $500 million joint venture that will invest in infrastructure projects. Much of the fund will focus on utility, transport, social and energy-related projects in the […]

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