By Peter D. SchiffGuest Columnist Recent high-profile bankruptcies of mainstay American retailers, such as Sharper Image Corp. (SHRPQ) and Linens Holding Co.'s Linens ‘n Things, as well as the proposed mergers between Blockbuster Inc. (BBI)/Circuit City Stores Inc. (CC) and Delta Air Lines Inc. (DAL)/Northwest Airlines Corp. (NWA), and the admissions from the nation's leading […]
Archives for April 2008
April 2008 - Page 4 of 14 - Money Morning - Only the News You Can Profit From
Global Investment Roundups
Canada Lowers Key Rate 50 Points; Source: News Corp. Swipes Newsday from Tribune; AT&T Dials Up Fourth Quarter Profit; Oil Gushes to Another High; Home Sales Kept Falling in March; Merrill Raises Cash; Yahoo Flat Without Alibaba; Yum's Strong China Sales Seeking to revive its slowing economy, the Bank of Canada lowered its benchmark rate […]
Slumping MGM Mirage Could Get a Boost from Major Stakeholders
By Jennifer Yousfi Managing Editor A slowing U.S. economy has taken its toll on MGM Mirage (MGM), but analysts are convinced that majority shareholder Kirk Kerkorian will take action before allowing shares to get too low. Kerkorian, a 90-year-old billionaire investor, owns 52% of MGM and in the past, has stepped in with a share […]
India and Japan May Be the Next to Join Global Cash Barons in Search of Higher Yielding Investments
By Jason Simpkins Associate Editor Dubai, Saudi Arabia and China are among the nations that have employed the use of sovereign wealth funds (SWFs) to turn their massive cash surpluses into major league investments. Now India and Japan appear poised to take up the aggressive pursuit for high returns with SWFs of their own. India […]
Midday Market Update: Stocks Lower on Disappointing Earnings
By Jennifer Yousfi Managing Editor Another batch of earnings announcements sent shares lower, as weak results from non-financial firms fueled investor concerns that economic weakness is spreading to other industries. At midday in New York, the blue-chip Dow Jones Industrial Average Index was down 76.86 points (-0.60%), to trade at 12,748.16. The tech-laden Nasdaq Composite […]
Scandal-Shrouded Lee Kun Hee to Resign from Samsung After Two-Decade Run
By Mike Caggeso Associate Editor Surrounded by charges of tax evasion and breach of duty, Chairman Lee Kun Hee will step down from Samsung Group – parent company of 59 businesses and South Korea's largest company. He'll be joined by Vice Chairman Lee Hak Soo and Presient Kim In Joo, who will quit by the […]
Bank of England Announces $100 Billion Banking Rescue
By Jennifer YousfiManaging Editor In an effort to restore liquidity to the U.K. financial markets, the Bank of England (BOE) yesterday (Monday) announced a $100 billion (50 billion pounds) rescue plan. The plan, similar to the U.S. Federal Reserve's lending initiative, will allow U.K. banks to swap illiquid mortgage-backed assets for government bonds. The BOE […]
Italy's New Prime Minister Could Bring "La Dolce Vita" to Investors
By Martin Hutchinson Contributing Editor Italian elections have traditionally been confusing, with one weak center-left coalition government replacing another. But the election held on April 13-14 was unusual for Italy, as it produced a clear result. What's more, that result gave a majority to the center-right government of Silvio Berlusconi. Berlusconi, a media billionaire, is […]
Car Companies Target Customers (And Each Other) in Hotly Contested Asia Battleground
Editor's Note: The automobile industry is in the midst of a huge change, with more buyers overseas than ever before. Meanwhile, U.S. car manufacturers are struggling to stay float. A special report jointly developed by U.K. affiliate MoneyWeek Magazine and our experts here at Money Morning explores the automobile industry and how investors can benefit. […]
Global Investing Roundups
Merck Doubles Profit; Arch Coal Heats Up First Quarter; Northwest Bankcorp Bolstered by Visa IPO; Profit Dives for Bank of America; National City Posts Loss, Slashes Dividend; Mattel Profit Drops; Strong Hasbro Results; Lowered Expectations for MF Global Merck & Co. Inc. (MRK) reported yesterday (Monday) that it its first-quarter profit rose to $3.3 billion […]