By Jennifer Yousfi Managing Editor U.S. home prices suffered their worst decline on record, skidding 1.7% in the first quarter, the Office of Federal Housing Enterprise Oversight (OFHEO) announced yesterday (Thursday). That drop-off from the fourth quarter to the first quarter in the OFHEO's "purchase-only index" exceeded the 1.4% decline between the third and fourth […]
Archives for May 2008
May 2008 - Page 4 of 14 - Money Morning - Only the News You Can Profit From
The Surest Way to Double Your Money This Year
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report If you're looking to double your money, don't invest in the markets. Just buy a 1989 Geo Metro or a 1972 Honda Civic. Both cars got 40 or more miles to the gallon when they debuted decades ago – performance levels the current generation of […]
To the Members of Congress: The Only Three Moves That Will Stop the Oil Price Advance
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report An Open Letter to Congress: First there was the trillion-dollar pork fest for energy. Then there was the decision to go with corn-based ethanol. Now, Congress has voted to stop adding oil to the national Strategic Petroleum Reserve (which was created in the 1970s to […]
Iceland Ponders EU Membership as the Credit Crunch Sinks its Currency
Editor's Note: Despite rising fast financially in the past few years, Iceland is feeling the chilly effects of the global credit crunch – so much so the fiercely independent island nation is considering European Union membership to save its tanking currency. A special report, jointly developed by U.K. affiliate MoneyWeek Magazine and our experts here […]
Global Investing Roundups
Crude Hits $133; Time Warner Spins Off Cable Unit; Boeing Jettisons 750 Workers; UBS Sells Assets to BlackRock; American Airlines' Desperate Moves; Moody's Big Mistake; DOJ to Sue OPEC?; BOE Holds on Inflation Fears Crude oil for July delivery rose $4.33 to $133.38 a barrel yesterday (Wednesday) after U.S. stockpiles showed an unexpected decline. Supplies […]
Euro Heads Back Towards Record High on German Economic Strength
By Jennifer YousfiManaging Editor An unexpected increase in German business confidence sent the euro to a one-month high versus the dollar yesterday (Wednesday) on speculation that the European Central Bank could be forced to hike interest rates to combat inflation. Germany's Ifo Institute Business Climate Index increased to 103.5 in May from 102.4 in April. […]
Asian Exports Continue to Surge Despite U.S. Slowdown
By Jason Simpkins Associate Editor A stalling U.S. economy has typically been a cause for a concern among Asian exporters, which have traditionally been over-reliant on the American consumer for business. However, those concerns have been assuaged recently, as many exporters throughout the Pacific have found a significant demand for their goods in other markets. […]
Germany: Warren Buffett Likes It, And So Do We
By Martin Hutchinson Contributing Editor Investors have been watching Berkshire Hathaway Inc. (BRK.A, BRK.B) Chairman Warren Buffett's moves for years to see which investments are going to take off next. Back in October, the Oracle of Omaha's trip to South Korea encouraged our own bullishness on that country's stock market. And now Buffett has decided […]
With Oil Nearing $130, Kicking the "Oil Addiction" Looks Like the Sole U.S. Hope
By Jason Simpkins Associate Editor Oil prices set a new record just shy of the $130 a barrel level yesterday (Tuesday), despite a concerted – though probably futile – effort by the U.S. government to rein in the runaway commodity. Crude oil for June delivery reached $129.331 per barrel on the New York Mercantile Exchange, […]
Global Investing Roundups
Produce Prices Up Modestly; Target Earnings Off the Mark; Coal Shortage in China; Icahn's Yahoo Battle Gains Support; Whitney Slashes U.S. Bank Outlooks; Sacked Earnings for Saks; Merck's Vioxx Settlement; Fed on Pause, Says Kohn Wholesale prices rose 0.2% in April after seasonal adjustments, with food prices flat and energy prices falling, the Labor Department […]