By Jennifer YousfiManaging Editor Shares of Lehman Bros. Holdings Inc. (LEH) deflated yesterday (Monday) after hopes of a bailout bid from a Korean bank dissipated. Jun Kwang Woo, chairmen of the Korean government’s Financial Services Commission, expressed concern about an investment from state-controlled Korea Development Bank in the struggling investment bank. When questioned about a […]
Archives for August 2008
August 2008 - Page 3 of 12 - Money Morning - Only the News You Can Profit From
Boeing Threatens to Pull Out of $35 Billion Air Force Tanker Program
By William Patalon IIIExecutive Editor Money Morning/The Money Map Report The Boeing Co. (BA) doesn’t believe it can win the controversial competition for a $35 billion U.S Air Force tanker contract without a six-month extension, and now has threatened to pull out of the competition altogether. The Chicago-based Boeing said it wants the extension to […]
Global Investing Roundups
Home Sales Building Bank UP; Morgan Stanley Offers Saudi Swap; Rubin Changes Role at Citi; Ford Skids; Stormy Weather Boosts Oil; AMD Sells Off Losing Unit; Feds Find for Star Scientific; Golden Slump Sales of existing homes rose in July, climbing 3.1% to a seasonally adjusted annual rate of 5 million units. Sales were expected […]
Korea's KDB Could Prove to be Lehman Bros. Savior
By Jennifer YousfiManaging Editor Battered shares of Lehman Bros. Holdings Inc. (LEH) got a reprieve when Korea Development Bank expressed interest in a possible capital infusion, sending the stock up almost 10% in early trading. Lehman has been badly beaten down due to its high exposure to the subprime crisis and management’s refusal to make […]
"Encouraging" Economic Outlook From Bernanke and Buffett Boost U.S. Markets
By Jennifer YousfiManaging Editor U.S. markets rallied as soothing comments from two of the most influential minds in finance combined to assuage investor fear and push indices higher. The blue-chip Dow Jones Industrial Average Index gained 195.90 points (1.71%), to close at 11,626.11. The tech-laden Nasdaq Composite Index rose 34.33 points (1.44%), to reach 2,414.71. […]
The One Warren Buffett Biography Every Investor Should Read -- New Bio to Debut
By William Patalon III Executive Editor Money Morning/The Money Map Report There are scads of books on the market purporting to tell the story of investing guru Warren Buffett. I know, because during my days as a business journalist, I read – or at least perused – almost all of them. And as my lovely […]
Buy, Sell or Hold: Berkshire Hathaway Inc.
Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) with Warren Buffett at the helm has one of the greatest financial combinations investors have ever seen. The shares of the once-wheezing textile-maker-turned-investment-vehicle doubled over the past 10 years while the broad Standard &Poor's 500 Index returned only 18% during the same period. In the process, Buffett became the […]
China's Economy Looks to Rebound After Lackluster Olympics
By Jason Simpkins Associate Editor Despite a flood of investment leading up to the 2008 Olympic Games, economic conditions in China have been on the decline for the entire month of August, leading some analysts to warn of a post-Olympic slowdown. But the Chinese economy so far has proved resilient, and with policymakers in Beijing […]
Worrisome Stagflation Becomes More Real All the Time
By William Patalon III Executive Editor Money Morning/The Money Map Report U.S. Federal Reserve Chairman Ben S. Bernanke didn't use the "S" word – stagflation – but he might as well have. On Friday, the U.S. central bank chief said that the financial crisis that has hammered the U.S. market is combining with rising inflation […]
Global Investing Roundups
GM Pins Hopes on Cruze; GameStop’s Worried Outlook; New Car-Parts Leader; U.K.’s Retail Sale Surprise; Oil Bounces Back; Is Lehman a Takeover Target?; Jobless Claims on Decline; BK Has Its Way General Motors Corp. (GM) announced yesterday (Thursday) it plans to invest $500 million in an Ohio plant that will be retooled to produce the […]