By Martin HutchinsonContributing EditorMoney Morning When it comes to naming a winner in the competition for "the worst product ever invented by Wall Street," there is quite a list of worthy candidates. With just the current financial crisis alone there are such "inventions" as subprime mortgages, auction rate preferred stock and asset-backed commercial paper, which […]
Archives for March 2009
March 2009 - Page 11 of 12 - Money Morning - Only the News You Can Profit From
Global Investment News Briefs
Berkshire's Armor Cracks; JPMorgan Bags $5 Billion Selling Deriviates; Recordati Proposes Increased Divided; China May Double Stimulus This Week; Homes Sales Continue to Break Down; After recording its worst financial results ever last year, Warren Buffet's Berkshire Hathaway Inc. (BRK.A, BRK.B) announced it would cut manufacturing jobs and close facilities to buffer itself against the […]
Almunia Insists the Eurozone Could Withstand a Member’s Collapse
By Mike Caggeso Associate Editor Money Morning Ireland is deep trouble. So are Romania, Greece and Hungary. But even with the strongest nations in the Eurozone severely weakened, European Monetary Affairs Commissioner Joaquin Almunia asserts that there would be no need for a country on the brink of collapse to seek help elsewhere. "If a […]
Bank of Canada Cuts Rates as Economic Conditions Deteriorate, ECB and BOE to Follow
By Jason Simpkins Managing Editor Money Morning The Bank of Canada (BOC) today (Tuesday) cut its benchmark-lending rate in half to a record low 0.5%. Governor Mark Carney said the central bank could cut rates further and perhaps take actions beyond rate adjustments if conditions continue to deteriorate. "Given the low level of the target […]
Although Experts Said it Could Never Happen, U.S. Crisis Looking Like a Repeat of Japan’s “Lost Decade”
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report If you want a real look at what's headed this way, ask Hideko Toyotomi. When Japan's so-called "Lost Decade" began with a bang in the early 1990s, she was an "OL" – an office lady – working in one of Japan's mightiest corporations and she kept her […]
Russia's Economic Demise Could Turn "BRIC" to "BIC"
By Mike Caggeso Associate Editor Money Morning Russia's continuing weakness could cost the country its membership in one of the most identifiable and esteemed investor acronyms – the BRIC nations. Back in 2001, the Goldman Sachs Group Inc. (GS) – eager to push its clients toward emerging markets investment – created the acronym "BRIC" to […]
Global Investment News Briefs
Freddie Mac CEO Quitting; HSBC Selling Shares, Cutting Jobs; Wendy's/ Arby's Loses $390 Million in 4Q; South Africa Unemployment Fell to 21.9% in 4Q; Venture Capital Investment Plummets; Dish Network Ups Profit, Loses Subscribers Six months after becoming Freddie Mac (FRE) Chief Executive Officer, David Moffett is stepping down from his post, citing a desire […]
AIG Gets Third Government Bailout After Posting Record Loss
By Jason Simpkins Managing Editor Money Morning American International Group Inc. (AIG) will receive as much as $30 billion government aid after posting a $61.7 billion fourth-quarter loss, the largest loss ever by a public company. In addition to receiving $30 billion in government capital, AIG will benefit because the U.S. Treasury Department will relax […]
Friday’s Employment Report Could Show the Biggest One-Month Job Loss in Nearly 60 Years
By William Patalon III Executive Editor Money Morning/Money Map Report When the Labor Department releases February’s U.S. employment numbers on Friday, economists are expecting to see the largest one-month job loss in nearly 60 years. With consumer spending in a freefall and factory output continuing to plunge, U.S. companies are idling plants, slashing extra workers […]
Pledge to Hedge: Dial Down Your Utility Bill With This Energy Management Product
[This is the eighth installment of an ongoing series.] By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report Traveling as much as I do, I get to meet a lot of very interesting people. Like Wayne Shipp. Shipp’s on his third successful career and, at an age when most people have long since retired, he’s building […]