December 2008 - Money Morning - Only the News You Can Profit From

Gazprom-Ukraine Dispute Could Leave Europe Out in the Cold

By Jason Simpkins Associate Editor Money Morning Russia’s state-run energy monopoly, OAO Gazprom, is warning its European customers that a dispute with Ukraine could lead to supply disruptions, as the Eastern European transit state siphons off supplies to meet its own energy needs. Representatives from Gazprom and Ukraine are negotiating a deal for 2009 natural […]

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Lower Initial Jobless Claims Hide Surging Unemployment

By Don MillerContributing WriterMoney Morning Initial claims for unemployment benefits fell by 94,000 last week, the biggest drop in 16 years, the U.S. Labor Department said today (Wednesday).  However, the data was almost certainly skewed by a shortened Christmas week, as continuing total jobless rolls surged to their highest levels since 1982. “The underlying picture […]

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Gold Bugs Have Fed to Thank for Recent Rally

By Don Miller Contributing WriterMoney Morning The currency markets reaction to the Federal Reserve’s recent interest rate cuts has ignited a rally in gold, as investors weigh the benefits of owning the yellow metal versus U.S. Treasuries and the dollar. As a result, gold has started to shine again as a stable source of value […]

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Global Investment News Roundup

Barclays: Japan 4Q GDP Will Shrink 12.1%; Holiday Sales Worst Since 1970; American Greetings Buys Recycled Paper Greetings; Consumer Confidence Hits Record Low; China Eastern Gets Additional Funds; Gazprom Gets Paid An economist for Barclays Capital (ADR:BCS) estimates Japan’s economy will shrink at an annual pace of 12.1% this quarter, nearly a three-fold negative jump […]

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U.S. Home Prices Post Record 18% Annual Drop in October

By Mike Caggeso Associate Editor Money Morning Falling sales and rising foreclosures has chopped 18% from home prices in 20 major U.S. cities from Oct. 2007 to Oct. 2008, the fastest rate on record. According to the S&P/Case-Shiller index, home prices in Phoenix, Las Vegas and San Francisco sunk the most – giving back 32.7%, […]

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GMAC Loosens Credit Reins After $6 Billion Treasury Loan

By Don Miller Contributing Writer Money Morning The U.S. Treasury has agreed to lend $6 billion to GMAC LLC (GOM), the financing arm of General Motors Corp. (GM), in the latest government effort to keep the biggest U.S. automaker out of bankruptcy.   GMAC immediately announced looser credit lending standards that could make approximately 60 […]

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Global Investing Roundups

Mid-East Violence Drives Crude Higher; IndyMac to be Sold by Year’s end; Retailers in for Tough Start to 2009; Six-month Treasury Rate Hits Record Low; Commercial Banks Report $6 Billion in 3Q Revenue Crude prices rose back above $40 a barrel yesterday (Monday), as Israel and Palestinian forces exchanged fire and casualties mounted in the […]

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Buy, Sell or Hold: Mine Profits From BHP Billiton

With BHP Billiton Ltd. (NYSE ADR: BHP), it’s a case of the strong getting stronger and possibly even running away from the pack. Back in 2001, BHP Ltd. and Billiton PLC merged to form BHP Billiton Ltd., the world’s leading diversified resources group. And it never looked back. Now, the lowest-cost natural-resources producer with the […]

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Unprecedented Volatility Will Continue to Rock the Stock Market in Advance of a Possible Rebound in Mid-2009

[Editor's Note: With the New Year upon us and in response to the positive feedback we've received from our "Outlook 2009" economic forecasting series has received, Money Morning is taking advantage of the holiday to run several of our most popular installments a second time.] By Keith Fitz-GeraldInvestment Director Money Morning/The Money Map Report In […]

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