By Don MillerAssociate Editor Money Morning With every proposed financial fix-up plan for the U.S. banking system, there's always been one major sticking point: The logjam of hard-to-price – and even "toxic" – assets clogging the balance sheets of banks, investment houses or any other type of company with an involvement in the financial-services sector. […]
Archives for March 2009
March 2009 - Page 4 of 12 - Money Morning - Only the News You Can Profit From
Global Investment News Briefs
Abu Dhabi Buys Daimler Stake; Tata Launches Nano; Walgreen Beats 2Q Estimates; Banks Hurt by Plunging Commercial Property Prices; Gannett Furloughs Workers Again; Oil Nears 3-Month High; TreeHouse Foods Climbs on Private-Label Buying Abu Dhabi's state-controlled International Petroleum Investment Company (IPIC) said it would buy a 9.1% stake in the German automaker Daimler AG (DAI) […]
Emerging Markets Seek to Dump the Dollar as World’s Main Reserve Currency
By Jason SimpkinsManaging Editor Money Morning Emerging markets, led by China and Russia, plan to jointly challenge the U.S. dollar's role as the world's sole benchmark currency at the April 2 meeting of the Group 20 nations – a move that underscores the currency's weakness and fading support around the world. The creation of a […]
Suncor Buying Petro-Canada for $15 Billion, Consolidating Canadian Energy Industry
By Mike Caggeso Associate Editor Money Morning Suncor Energy Inc. (SU) said it will buy rival Petro-Canada (PCZ) for $14.9 billion (C$18.43 billion) in a deal that will create Canadia's largest energy company, with a refining capacity of 433,000 barrels per day. More importantly for the future of both companies, the combined portfolio boasts the […]
As Criticisms Over Leadership Mount, Obama Administration Makes Plans to Battle Back
By William Patalon III Executive Editor Money Morning/The Money Map Report After a week of spiraling impatience and stinging rebukes – including allegations of incompetence – the Obama administration is going on the offensive in an attempt to rebuild confidence in its ability to lead the country out of its seemingly depending financial morass. Just […]
Has Credit Card Cancer Put America on Life Support?
By Peter D. SchiffGuest ColumnistMoney Morning With his recent pronouncement that "credit is the lifeblood of a healthy economy," U.S. President Barack Obama reiterated what has been one of his most common themes in diagnosing our economic problem. President Obama has relied on this bedrock belief to propose policies that place the restoration of credit […]
Hot Stocks: GE Capital Attempts to Overcome Negative Sentiment With a "Deep Dive" Into its Finances
By Jason Simpkins Managing Editor Money Morning With concerns about General Electric Co.’s (GE) financing arm weighing heavily on the minds of investors, the company is trying desperately to assure the public that GE Capital Corp. will survive the economic downturn. In just the past month, GE had its credit rating cut by Standard & […]
IBM Wants Sun for Social-Network Server Dominance
By Don MillerAssociate EditorMoney Morning When IBM Corp. (IBM) launched a takeover bid for Sun Microsystems Inc. (JAVA) last week, it was widely seen as a move to put a stranglehold on the computer-server market. But IBM may be after a bonus prize as it pursues Sun – the chance to enter, and perhaps dominate, […]
Citigroup Announced New CFO, Internal and External Makeovers
By Mike Caggeso Associate Editor Money Morning Citigroup Inc. (C) lifted the curtain on plans to give itself internal and external makeovers Friday, moves the company hopes will not only improve its performance and balance sheet, but also dangle a worm in front of its jaded investors. Internally, the third-largest U.S. bank named Edward Kelly […]
Three Ways to Profit as Inflation Causes Gold Prices to Increase
By Martin Hutchinson Contributing Editor Money Morning I have written a number of times in the last few months that gold and mining shares look attractive. While the metal had a big run-up in price during the three-month stretch that ended in late February, the yellow metal has subsequently dropped back a bit, as have […]