Siemens Slashes Jobs; Southwest Cozies Up to Canada; VMWare Axes CEO; Office Depot Drops on Dismal Sales; Oil Drops $10 in a Week; Fed's New Lending Restrictions; Anheuser Busch Sues InBev; ConocoPhilips Strikes Deal with Abu Dhabi Siemens AG (ADR: SI) announced yesterday (Tuesday) that it would eliminate almost 17,000 positions to prepare for a […]
Archives for July 2008
July 2008 - Page 10 of 12 - Money Morning - Only the News You Can Profit From
Merrill Lynch: Emerging Market Infrastructure Spending Will Surge 80% in the Next Three Years
By Jason SimpkinsAssociate Editor Merrill Lynch & Co. Inc. (MER) has raised its annual infrastructure-spending estimate for emerging markets by 80%, as developing countries try to keep pace with fast-growing economies and large cash reserves, BusinessWeek reported. Investment in infrastructure, which the firm sees as the long-term solution to inflation, will rise from $1.25 trillion […]
The Best Way to Use Gold to Protect Your Portfolio and Profit
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report One of the things people don't understand about buying gold for diversification is that it doesn't work all the time. It works over time. That means that you can't simply switch from one asset class to another when the going gets tough and expect miracles. Nor can […]
Former Oilman T. Boone Pickens Taps Wind Power, Natural Gas to Replace Foreign Oil
By Jennifer YousfiManaging Editor He made his fortune as an oilman, but yesterday (Tuesday) legendary investor T. Boone Pickens unveiled a plan to cut U.S. dependence on foreign oil through the power of alternatives such as wind and natural gas. "We're paying $700 billion a year for foreign oil. It's breaking us as a nation, […]
UBS Embarks on Middle East Expansion
By Jennifer YousfiManaging Editor UBS AG (UBS) yesterday (Tuesday), announced it had obtained a license to operate in Saudi Arabia, joining a growing number of financial firms looking to recoup some of the over $400 billion in global write-downs to date by tapping into the oil-fueled wealth creation occurring in the Middle East. "With over […]
Are the Most Business-Friendly Markets the Most Friendly to Investor Portfolios?
By Martin Hutchinson Contributing Editor Forbes Magazine has come out with its list of "Best Countries for Business" – and Denmark ranks as the world's most business-friendly market. But unless an investor is looking to set up shop in one of these countries, you wouldn't expect this list to be all that valuable. After all, […]
Although Top Brokers Predict Record Rebound in U.S. Stocks, Dissenters Abound
By Jennifer YousfiManaging Editor Just days after a key U.S. stocks index posted its worst month since the Great Depression, three global investment banks are predicting the biggest second-half rally in more than 25 years. Market strategists at Deutsche Bank AG (DB), Lehman Brothers Holdings Inc. (LEH) and UBS AG (UBS) are predicting that the […]
CNOOC Taps Overseas Markets with Awilco Takeover
By Jason Simpkins Associate Editor After a disappointing string of failed takeovers, CNOOC Ltd. (ADR: CEO) has reignited its foreign expansion initiative with a $2.49 billion buyout of Norway's Awilco Offshore ASA. China Oilfield Services Ltd., a unit of China's top offshore oil and gas producer will pay $16.66 (85 kroner) a share, an 18.7% […]
Global Investing Roundups
InBev Seeks Overthrow of AB Board; Microsoft Open to New Talks with Yahoo; Crude Retreats; Merrill Lynch to Write Down $6 billion; Freddie and Fannie Tumble; Tighter Fed?; Greenback Weighs on Gold; Prius Goes Solar Belgian brewer InBev NV announced yesterday (Monday) that it would attempt to remove the entire Anheuser-Busch Cos. Inc. (BUD) board […]
General Motors Pondering Thousands of Job Cuts and Selling Brands, Sources Say
By Mike CaggesoAssociate Editor Embattled carmaker General Motors Corp. (GM) is planning thousands of additional white-collar job cuts and mulling over the sale off some of its brands, sources told the Wall Street Journal. The strategic shifts are part of General Motors' plan to return to profitability by 2010, a goal that will require a […]