Results for 2009 January
Retirement Blues: Financial Crisis Pulls Billions From Pension Plans, Crimping Consumers' Dreams and Corporate Profits.
[This is the first installment of a two-story package that examines how the global financial crisis has put the squeeze on retirement funds. Tomorrow (Friday) Money Morning looks at strategies investors can use to bounce back from a big drop…
Global Investment News Briefs
FOMC Meeting Offers No Solutions; First Wells Fargo Loss Since 2001; Total Buys Oil-Sands Explorer; AT&T Posts 4Q Decline; Boeing to Double Job Cuts; Time Warner Cuts 700 Jobs; UBS Reduces Bonuses; Ford’s Fourth-Quarter Loss
- The Federal Open Market Committee yesterday (Wednesday)…
IOL: Global Unemployment Could Exceed 50 Million in 2009
By Mike Caggeso
Associate Editor
Money Morning
The global financial crisis could wipe out 30 million jobs worldwide by the end of 2009, said the International Labor Organization (IOL), an agency of the United Nations.
The best-case scenario would be 18…
FDIC May Run “Bad Bank,” Although Nationalization Concerns Remain
By Jason Simpkins
Managing Editor
Money Morning
The Federal Deposit Insurance Corp. (FDIC) could soon establish a “bad bank” to absorb financial institutions’ toxic assets. The bad bank initiative could lead to the seizure of many U.S. banks, but would stop short of…
Global Investment News Briefs
FOMC Brainstorms; Dimon and Lewis Bet Big on Financials; Former BofA CEO Thain Reinvents Self; Yahoo! Posts Fourth-Quarter Loss; Consumer Confidence Hits Record Low; S&P/Case-Schiller Housing Index Plunges 18%
- The Federal Open Market Committee (FOMC), the policymaking arm of the U.S.…
What Companies Are Profiting From China’s Commodities Crusade?
By Jason Simpkins
Managing Editor
Money Morning
While the rest of the world is grappling with the global slowdown, China is figuring out ways to exploit it.
Over the past few months, China has capitalized on the financial turmoil that has paralyzed the world’s…
Obama’s New Stimulus Plan May Be the Needle That Pops the Treasury-Bond Bubble
Frighteningly, like the rush into tech stocks, then the rush into real estate, and then the rush into commodities, the rush into U.S. government bonds has created a Treasury bubble. In a cruel twist of economic fate, passage of an aggressive Obama administration stimulus plan could further inflate that bubble – before popping it.
The United States of America is an expensive household to run. In order to pay the nation’s bills, the U.S. government levies taxes. When expenditures exceed tax revenue, the government has to borrow money. The United States borrows money by ordering the Treasury Department to sell government IOUs to investors in the form of Treasury bills, notes and bonds, known as “Treasuries.”
How much does the government owe? As of Friday, according to TreasuryDirect.gov, total U.S. public debt stood at $10,620,397,126,433.54 ($10.62 trillion) – and counting.
Black Monday Brings Massive Layoffs – Economists Say Some Jobs Could be Gone for Good
By Don miller
Associate Editor
Money Morning
The unemployment picture took on an even more ominous tone this week as new layoffs emphatically underscored a worsening global economy. Now, fear is rising that the losses represent a major restructuring in the business…
Treasury Secretary Geithner Confirmed, Begins Difficult Journey
By Jason Simpkins
Managing Editor
Money Morning
Timothy F. Geithner officially took over as U.S. Secretary of the Treasury after being confirmation from the Senate. Geithner is charged with the task of quelling the financial turmoil that has ravaged the U.S. economy and…
Global Investment News Briefs
Pfizer Buys Wyeth for $68 Billion; Existing Homes Sales Rose 6.5%; McDonald’s Posts 5.8% Sales Growth; Freeport McMoran Lowers Sales Targets; Lincoln National Corp Cutting Staff 5%; GM Cuts More Jobs, Production; Petrobras to Cut Costs by $4 Billion; Halliburton…
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