By Mike Caggeso Associate Editor Money Morning China's January exports fell 17.5%, the fastest pace in nearly 13 years and worse than most preliminary forecasts. Shipments to the United States fell 9.8%. And exports to China's largest trading partner, the European Union, fell 17.4%. China exports fell a slight 2.8% in December. China imports also […]
Archives for February 2009
February 2009 - Page 7 of 11 - Money Morning - Only the News You Can Profit From
Is President Obama Creating a Better Banking System by Capping Executive Pay?
By Martin HutchinsonContributing EditorMoney Morning By revamping the banking sector's compensation system, and creating a salary cap of $500,000 for the top executives at institutions that accepted federal bailout money, new U.S. President Barack Obama could be launching a reform movement that helps make the American financial system worthwhile to invest in again. For the […]
Geithner Unveils TARP Overhaul
By Jason Simpkins Managing Editor Money Morning While members of Congress debated the merits of President Obama's $838 billion stimulus plan, Treasury Secretary Timothy Geithner unveiled a raft of new measures aimed at returning functionality to the besieged credit markets. Geithner painted the picture of the latest U.S. recovery attempt in broad strokes, outlining the […]
Global Investment News Briefs
Live Nation Buys Ticketmaster; China Inflation Trudging Slowly; MillerCoors Profit Falls 40%; UBS Cuts Jobs, Announces Profitability; Traders Bid up Gold Options; Oil Falls Below $39;WalMart Cuts Jobs at Home Office; Cisco Raises $4 Billion Live Nation Inc. (LYV), the world's largest concert promoter, said it is buying Ticketmaster Entertainment Inc. (TKTM), the world's largest […]
Intel Defies Layoff Trend – Spends $7 Billion Protecting 7,000 Jobs
By Don Miller Associate Editor Money Morning At a time when U.S. employers are laying off workers in record numbers, Intel Corp. (INTC) announced yesterday (Tuesday) that it would spend $7 billion over the next two years to build advanced manufacturing facilities while safeguarding 7,000 high-wage jobs. To support the deployment of Intel's cutting-edge 32-nanometer […]
GM Chopping 10,000 Jobs, Executive Pay
By Mike Caggeso Associate Editor Money Morning Under the gun to return to profits, General Motors Corp. (GM) announced dramatic job cuts and dialed back pay to its white-collar workforce. The largest U.S. automaker will cut its global salaried workforce from 73,000 to 63,000 by the end of 2009. GM will eliminate 3,400 of its […]
Obama Administration Must Revive "Shadow Financial System" to Revive U.S. Banks
[This is the eighth installment of an investigative series in which Money Morning examines how U.S. banks are using federal bailout funds.] By William Patalon III Executive Editor Money Morning/The Money Map Report To ease the ongoing credit crisis and get banks lending again, the Obama administration realizes that it first has to resuscitate the […]
Global Investment News Briefs
Report: China Exports Likely Down 14%; Whirlpool Sales Sink 76%; Starbucks Adding Value Meals; Chavez: Venezuela Untouched by Crisis; Defaults on Jumbo ARMS Could Double; Satyam to Decide on Action Plan Following Scandal A team of economists estimate that China's January exports likely fell 14% from a year earlier, which would be the biggest monthly […]
Two Ways to Profit From the Obama Administration’s Energy Dilemma
There's an epic confrontation brewing inside the new administration of U.S. President Barack Obama. And it has nothing to do with the controversial economic stimulus package, or the new banking-bailout blueprint that U.S. Treasury Secretary Timothy F. Geithner is expected to unveil today (Tuesday). This "other" confrontation has to do with energy. And the two […]
The $9.7 Trillion Pledged to Fix the Financial Mess Could Have Paid off 90% of America’s Mortgages, Report Says
By Don Miller Associate Editor Money Morning As Senate Republicans and Democrats continue to bicker over the details of President Barack Obama's stimulus plan, Treasury Secretary Timothy Geithner waits in the wings ready to unveil yet another bank bailout bill. But almost forgotten in the headlong rush to devise measures to create jobs and save […]