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Global Investment News Briefs

India Cuts Repurchase Rate to 5%; Private Employers Cut 697,000 Jobs in Feb.; U.S. Auto Sales Down 41% in February; Oil Rallies to Six-year High; Merrill's Top 10 Execs Paid $209 Million Last Year;   The Reserve Bank of India reduced its repurchase rate from an already low of 5.5% to 5.0%, its fifth cut […]

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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 […]

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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 […]

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Global Investment News Briefs

JPMorgan Cuts 2,800 WaMu Jobs; GM Post $30-Billion Loss; Hong Kong Exports Sink; IGM Retains 2009 Outlook; Jobless Claims Spike; Oil Rises for Second Day in a Row JPMorgan Chase & Co. (JPM) will eliminate 2,800 jobs at Washington Mutual through attrition, Bloomberg reported. In December, the company slashed 9,200 jobs at WaMu, which it […]

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Global Investment News Briefs

Nortel Cutting 3,200 Jobs; Agrium Makes Hostile Bid for CF Industries; Ambac Posts $2.34 Billion 4Q Loss; Obama Picks Locke; Oil Rallies; SanFran Chronicle Could Close Nortel Networks Corp. (NRTLQ) said it plans to slash 3,200 jobs as part of the company's efforts to climb out of bankruptcy protection. "With the unprecedented economic environment and […]

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Global Investment News Briefs

Consumer Confidence Hits Record Low; JPMorgan Slashes Dividend; Bernanke Urges Strong Action for 2010 Recovery; Target Profit Tumbles; Oil Pushing Back to $40; Home Depot Beats Estimates U.S. consumer confidence fell to a record low in February, according to the Conference Board index. "Just when you think confidence can't go any lower, the bottom falls […]

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Global Investment News Briefs

AIG to Post Biggest Loss in U.S. History; Stocks Fall to a 12-year Low; Honda to Post First Quarterly Loss in 15 Years; Toyota Lowers Production Target American Insurance Group (AIG), the insurance giant that is already 80% owned by the U.S. government, is in discussions with the government for more federal funding so it […]

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Global Investment News Briefs

U.S. Sues UBS; Unemployment Highest Since 1967; BoA Criticizes Housing Plan; Oil Soars Over $39; HP Lowers Forecast; Brazilian Jetmaker Cuts 20% of Workforce The U.S. government yesterday (Thursday) sued UBS AG (UBS) to force Switzerland’s largest bank to release the identities of 52,000 Americans who allegedly hid their secret Swiss accounts from U.S. tax […]

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Global Investment News Briefs

Playboy in Play? Honda Throttles Back Jet Program; Hedge Funds to Hedge Bets After Losses; JPMorgan Will Modify Loans; Google Will Rather Fight Than Switch; Mortgage Applications Soar as Rates Fall The publisher of one of the world's best known adult magazines, Playboy Enterprises Inc., (PLA) said it would be open to discussions about an […]

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Global Investment News Briefs

Texas Financier Stanford Charged With Fraud; Trump Casinos File for Chapter 11; Amex and Capital One Defaults Rise; WalMart Beats Expectations; Blackberry Execs Pay Back $2.2 Million; Oil Prices Fall Below $35 The Securities and Exchange Commission yesterday (Tuesday) charged Texas financier R. Allen Stanford and three of his firms with a "massive" fraud that […]

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