Results for 2009 March
Home Prices Drop Record 19% in January
By Don Miller
Associate Editor
Money Morning
Home prices in the U.S. plummeted a record 19% in January from a year earlier, as demand plunged and foreclosures continued their relentless rise, according to an industry report released today (Tuesday).
The January S&P/Case-Shiller index fell…
Shrinking U.S. Demand Keeps Canada’s Economy Underwater in January
By Mike Caggeso
Associate Editor
Money Morning
Canada’s economy contracted for the sixth straight month in January as automobile production and construction fell. The 0.7% decline follows decreases of 1.0% in December and 0.7% in November.
Canada’s manufacturing sector slipped 3.1%,…
The Slow Death of General Motors
By Martin Hutchinson
Contributing Editor
Money Morning
U.S. President Barack Obama’s firing of General Motors Corp. (GM) Chief Executive Officer G. Richard Wagoner Jr. may be the beginning of the final act of a long and sad drama – the slow death of GM.…
Obama Rejects Automakers’ Reorganization Plans; Elevates Potential for Bankruptcy
By Jason Simpkins
Managing Editor
Money Morning
General Motors Corp. (GM) shares plunged more than 25% yesterday (Monday) – sparking a widespread stock-market sell-off – after U.S. President Barack Obama rejected turnaround plans that would have brought GM and Chrysler LLC billions in government…
Global Investment News Briefs
Report: U.K. Financials Cutting More Jobs; OPEC Prez Forecasts $75/Barrel; Oil Falls With Global Stocks; Chalco Scaling Back Spending; S&P Cuts Ireland’s Credit Rating; Investors Paid Cash for 40% of 2nd Home Purchases in 2008; Grain Prices Likely to Fall;…
Geithner Hints Banks May Need More Bailout Funding
By Don Miller
Associate Editor
Money Morning
U.S. Treasury Secretary Timothy Geithner made his first appearances on a host of talk shows on Sunday to promote the Obama administration’s efforts to restart the economy. He also warned against attempts to tax investors who…
World Bank Predicts 4.5% Contraction for Russia’s Economy, Possible “Social Crisis”
By Mike Caggeso
Associate Editor
Money Morning
After nearly a decade of double-digit economic growth, Russia’s economy is facing the prospect of a 4.5% contraction this year that will drive unemployment and poverty to “social crisis” levels, the World Bank said.…
CEOs of GM, Peugeot Lose Their Jobs as a Result of Auto Industry’s Great "Global Glut”
By William Patalon III
Executive Editor
Money Morning/The Money Map Report
The Obama administration will give General Motors Corp. (GM) enough aid to restructure over the next two months – requiring Chief Executive Officer G. Richard Wagoner Jr. to resign as one of…
Stimulus Coupled With Strong Stock Market Performance Creates Bullish Outlook
By William Patalon III
Executive Editor
Money Morning/The Money Map Report
Is it “Bull Market 2009?”
The answer to that question depends on whether you believe the three-week surge we’ve just been through is the start of a prolonged advance for U.S. stocks, or…
Why the Mining Sector Doesn't Need Banks
Money Morning Staff Reports
In the magical world of FinanceLand, it seems evil Dr. Doom has landed on the capital (Stall Street), and with a zap from his freezing ray-gun, has permeated the landscape with a thick layer of frost.
The…
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