By Jennifer YousfiManaging Editor After the global financial industry shed $403 billion in write-downs, European banks are finally turning a corner and boosting their share prices. German giant Deustche Bank AG (DB) and Switzerland's UBS AG (UBS) both declared they would not need to raise further capital yesterday (Wednesday) as the bulk of losses tied […]
Archives for July 2008
July 2008 - Page 12 of 12 - Money Morning - Only the News You Can Profit From
Two Profit Plays to Make as the Fed Inflates the Commodities Bubble
By Martin Hutchinson Contributing Editor U.S. Federal Reserve Chairman Ben S. Bernanke ignored the warnings of most economists last week, and kept the benchmark Federal Funds rate at 2%, far below the actual rate of inflation. As a result of this non-move, investors can probably look forward to having global commodities boom to continue for […]
Global Investing Roundups
Countrywide Deal Closes; Expanding Manufacturing; Conduct Trouble at Moody's; Hong Kong Holiday; Construction Spending Down for 11th Straight Month; Constellation Toasts to Profit; AT&T Drops iPhone Contract; BP Employees Ridden Out of Russia Bank of America Corp. (BAC) announced yesterday (Tuesday) that it had completed its purchase of Countrywide Financial Corp. (CFC). The all-stock deal […]
Currency Intervention Won’t Halt the U.S. Dollar’s Nosedive
By Peter D. SchiffGuest Columnist Last week the U.S. Federal Reserve moved one step closer to acknowledging reality. Unfortunately, it didn't let that admission move it from a policy course firmly guided by fantasy – meaning the central bank opted to stand pat on interest rates, despite the clear escalation of inflationary pressures. In the […]
CIT Group Exits Home Mortgage Market with $1.8 Billion in Deals
By Jennifer YousfiManaging Editor After posting four consecutive quarterly losses, CIT Group Inc. (CIT) took a step in the right direction yesterday (Tuesday), announcing it struck $1.8 billion in separate deals with Lone Star Funds and a subsidiary of Warren Buffet's Berkshire Hathaway Inc. (BRK.A, BRK.B). Dallas, Tex.-based Lone Star will acquire CIT's home lending […]
Iraq Looks to Rebuild Once Prominent Energy Sector by Opening its Doors to Foreign Oil Majors
By Jason SimpkinsAssociate Editor Iraq has officially opened the door for foreign oil companies to invest in the country's rich energy sector for the first time in more than 30 years. Thirty-five foreign oil majors have been invited to bid for contracts to provide technical support and help boost production in eight oil and natural […]
UBS Shakes Up Board Amid “Likely” IRS Probe
By Mike CaggesoAssociate Editor UBS AG (UBS) was at the center of a tornado of crushing news yesterday (Tuesday), as it announced major changes to its board amidst pressure from the U.S. Department of Justice to reveal the names of top clients taking advantage of the bank's tax breaks. Four of the No. 1 Swiss […]
Below the Radar: A Guide to Penny Stock Pitfalls and Profits
Editor's Note: This is the final installment of a two-part series on "below-the-radar-screen" stocks. Last covered: The "pink sheets." By Mike Caggeso Associate Editor Penny-stock traders are like the Rodney Dangerfields of the investment world – they get no respect from their bigger brethren. If a penny-stock trader made a killing on a few penny-stock […]
The Four Tough Questions to Ask Yourself in a Tough Market
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report For investors who are used to living large, this has been the year from hell. The markets are tanking. Food costs 25% more than it did a year ago. Inflation is on the march for the first time in decades. The sky's the limit on gasoline after […]
Global Investing Roundups
Global Investing Roundups Canada Staving off Recession; H&R Block Rebounds; Kellogg Buys Chinese Cookie Kingpin; Occidental Petroleum: New $1.1 Billion Hydrocarbon Plant; This Bud's Not For You; Eurzone Inflation Hits 4%; Dubai Ties Into Russia's Energy Sector; Tyson Takes a Bite Out of Indian Food Poultry Processor Canada posted 0.4% economic growth for the month […]