By William Patalon III Executive Editor Money Morning/The Money Map Report Barrick Gold Corp. (ABX) said that it's confident it will meet its 2008 gold-output target of 8.1 million ounces, the latest in a series of bullish developments for the world's biggest gold-mining firm. The Toronto-based Barrick, which has 27 operating mines, told analysts earlier […]
Archives for April 2008
April 2008 - Page 10 of 14 - Money Morning - Only the News You Can Profit From
India Embraces Africa, Opens the Door to Competition with China
By Jason Simpkins Associate Editor The first ever India-Africa summit concluded yesterday (Wednesday), having laid the groundwork for future cooperation between the regions. In the years ahead, India will be competing with China for influence in a resource-rich continent that boasts strong supplies of gold, silver, cotton, cocoa, and copper and aluminum ore. The two-day […]
Midday Market Update: Stocks Lower on Weak Outlook For Earnings, Economy
By Jennifer Yousfi Managing Editor U.S. markets headed lower today (Wednesday) on profit and recessionary worries. At midday in New York, the blue-chip Dow Jones Industrial Average Index was down 48.44 points (-0.39%), to trade at 12,528.00. The tech-laden Nasdaq Composite Index declined 18.17 points (-0.77%), to reach 2,330.59. And the broader Standard & Poor's […]
Two Ways to Profit From the Looming Credit Card Squeeze
Late credit card payments and outright defaults have soared in recent weeks. The most recent data says that "dead" balances written-off as uncollectible by banks have jumped 24% from a year ago. Late payments are up 16%. Can this be linked to the subprime mortgage meltdown? Our research says it is. Nor is it much […]
Troubled Global Airline Industry Battered by Fuel Costs, Labor Problems
By Jennifer YousfiManaging Editor When Skybus Airlines shut down operations and declared bankruptcy over the weekend, it became the third carrier in the span of a week to close its doors. In grounding itself, the Columbus, Ohio-based carrier joined Aloha Airgroup Inc.'s Aloha Airlines and ATA Airlines Inc., which have already ceased operations, as well […]
Global Investing Roundups
Sprott Announces it's Going Public; Intel Triples its China Investments; Pending Home Sales Plunge; Levi Strauss Stitches Up Profit; Venezuela and India Enter Joint Oil Venture; USEC Gains on Analyst Upgrade; BOJ Solidifies Governor; Lehman Likes Fannie and Freddie Canadian fund manager Sprott Asset Management Inc. is planning to sell about $200 million of its […]
Washington Mutual Slashes Dividend, Cuts Jobs
By Jennifer Yousfi Managing Editor Shares Washington Mutual Inc. (WM) dropped 10% yesterday (Tuesday) after the mortgage lender announced it raised $7 billion in capital, while slashing its dividend and cutting 3,000 jobs. Story continues below… Seattle-based WaMu, as the savings and loan is often called, raised the capital by issuing 176 million new shares […]
BP Caving to Kremlin Pressure Over Joint Venture
By Jason Simpkins Associate Editor BP PLC (BP) has found itself under pressure from the Kremlin to cede control of its joint venture in Russia, TNK-BP Holding OAO, to a state-owned oil monopoly such as Rosneft NK OAO or Gazprom OAO – the latest attempt by the Russian government to expand its energy monopoly and […]
Midday Market Update: Stocks Head Lower on Weak First Quarter Earnings
By Jennifer Yousfi Managing Editor U.S. markets dropped on a disappointing initial round of first-quarter earnings. At midday in New York, the blue-chip Dow Jones Industrial Average Index was down 45.43 points (-0.36%), to trade at 12,567.00. The tech-laden Nasdaq Composite Index decreased 12.87 points (-0.54%), to reach 2,351.96. And the broader Standard & Poor's […]
Jim Rogers: More Pain for the Greenback, and the Failure of the Federal Reserve
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report SINGAPORE – By bailing out Wall Street and applying "band-aids" to the economy, the U.S. Federal Reserve may well be causing its own downfall – even as it hastens the demise of the greenback as a viable global currency, investment guru Jim Rogers told Money Morning during […]