By Martin HutchinsonContributing EditorMoney Morning/The Money Map Report Financial journalists, most of whom spend more time writing about derivatives than carburetors, have been scathing about the possibility of an auto industry bailout, even though they’ve happily accepted multiple bailouts for the financial sector. Of course, the reality is that bailouts are likely to do more […]
Archives for December 2008
December 2008 - Page 10 of 11 - Money Morning - Only the News You Can Profit From
Billions in U.S. Bank Rescue Funds are Fueling Buyouts Worldwide – Instead of Lending at Home
[This is the newest installment in an ongoing news series that looks at the anticipated “aftershocks” of the global financial crisis, and the profit plays those events can trigger.] By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Bank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of […]
Global Investing Roundups
AT&T Disconnecting 12,000 Jobs; Credit Suisse Announces 5,300; Capital One Puts Chevy Chase in Its Wallet; Argentina Announces $3.9 Billion Stimulus, Jobless Benefits at 26-year High; Dupont Cuts 2,500 Employees; Williams-Sonoma Beats Estimates; Oil Falls 5% AT&T Inc. (T) said it would scale back 12,000 jobs, about 4% of its workforce, between now and the […]
China Blasts U.S. Economic Policy, Expresses Doubt in Financial System
By Jason Simpkins Associate Editor Money Morning China blasted U.S. economic policy yesterday (Thursday) at the Strategic Economic Dialogue, a two-day summit engineered to address long-term issues between the two countries. Chinese authorities have grown more fervent, and more explicit, with their criticism of the U.S. financial system over the past year, evidence of a […]
Record Rate Cuts and Economic Props Light up Europe
By Mike Caggeso Associate Editor Money Morning A spree of economic props dominoed across Europe today (Thursday) all sharing the same theme – stopping the global financial crisis from getting worse. The European Central Bank took a drastic step to protect the Eurozone economy from shrinking further by lowering its benchmark interest rate by three-quarters […]
Will the Loss of Consumer Credit Serve as the Next Economic Aftershock to Further Fuel the Financial Crisis?
[This is the newest installment in an ongoing news series that looks at the anticipated “aftershocks” of the global financial crisis, and the profit plays those events can trigger.] By Jason SimpkinsAnd William Patalon IIIMoney Morning Editors U.S. consumers are already losing their jobs at an accelerating rate. The same thing is now set to […]
That $25 Billion in Loans America's "Big Three" Automakers Had Sought … It's Now $34 Billion
By William Patalon IIIAnd Mike CaggesoMoney Morning Editors The U.S. “Big Three” of General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp. submitted their turnaround plans to Congress yesterday (Tuesday), hoping for approval of a massive loan package they say is central to their survival. And while the plans include such politically palatable […]
Global Investing Roundups
EDF Scooping Constellation; Research in Motion Posts Tough 3Q; Legg Mason’s Miller Calls Market Bottom; Cyber Monday Sales Strong; Crude Stocks Drop; New Zealand Fights Recession The world’s biggest nuclear utility company, Electricité de France SA will offer as much as $6.5 billion for assets of Constellation Energy Group, Inc (CEG), source familiar with the […]
Cost Cutting Boosts Productivity, but Gives Rise to Unemployment
By Jason Simpkins Associate Editor Money Morning U.S. worker efficiency climbed in the third quarter, but the increase was largely due to cutbacks on labor that could spur unemployment. Productivity, the measure that gauges employee output per hour, rose at a 1.3% annual rate in the third quarter, the Labor Department reported yesterday (Wednesday). However, […]
China Slams Western Financial Firms
By Mike Caggeso Associate Editor Money Morning China's $200 billion sovereign wealth fund, China Investment Corp. (CIC), doesn't plan to open its wallet to foreign financial firms and banks any time soon. Still mindful of losing about $6 billion of the $8 billion CIC invested in Morgan Stanley (MS) and Blackstone last year, chairman Lou […]