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Dow Makes $18.8 Billion Offer for Rohm and Haas

By Jennifer YousfiManaging Editor The Dow Chemical Co. (DOW) yesterday (Thursday) announced its plans to buy rival Rohm and Haas Co. (ROH) in an $18.8 billion deal, $3 billion of which will come from Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B). News of the Dow buyout sent Rohm and Haas shares soaring over 60% by […]

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Second Chance for Boeing as Defense Department Reopens Bidding on $35 Billion Contract

By Jennifer YousfiManaging Editor The Boeing Co. (BA) got some hard won good news yesterday (Wednesday) when Secretary of Defense Robert Gates announced the U.S. Air Force would reopen bidding on a disputed $35 billion contract based on findings of the Government Accountability Office. "I've concluded the contract cannot be awarded at present" because of […]

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Eurozone Growth Revised Down as Inflationary Pressures Trump Economic Growth

By Jason SimpkinsAssociate Editor First-quarter growth in the 15-nation Eurozone was weaker than first reported, yet another worrying development for a region already struggling with soaring inflation. The combined Eurozone economy grew by 0.7% in the first quarter compared to the three months prior, revised down from a previous forecast of 0.8%, Eurostat reported. While […]

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Boeing Projects Increased Demand Despite High Oil, Weak Economy

By Jennifer YousfiManaging Editor The Boeing Co. (BA), one of Money Morning's "Global Titans," yesterday (Wednesday) released a report that predicted $3.2 trillion in aircraft sales over the next 20 years, as air travel picks up despite current price pressures. "During 40 years of producing the Current Market Outlook, we have learned that the resilience […]

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Former Oilman T. Boone Pickens Taps Wind Power, Natural Gas to Replace Foreign Oil

By Jennifer YousfiManaging Editor He made his fortune as an oilman, but yesterday (Tuesday) legendary investor T. Boone Pickens unveiled a plan to cut U.S. dependence on foreign oil through the power of alternatives such as wind and natural gas. "We're paying $700 billion a year for foreign oil. It's breaking us as a nation, […]

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UBS Embarks on Middle East Expansion

By Jennifer YousfiManaging Editor UBS AG (UBS) yesterday (Tuesday), announced it had obtained a license to operate in Saudi Arabia, joining a growing number of financial firms looking to recoup some of the over $400 billion in global write-downs to date by tapping into the oil-fueled wealth creation occurring in the Middle East.  "With over […]

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CNOOC Taps Overseas Markets with Awilco Takeover

By Jason Simpkins Associate Editor After a disappointing string of failed takeovers, CNOOC Ltd. (ADR: CEO) has reignited its foreign expansion initiative with a $2.49 billion buyout of Norway's Awilco Offshore ASA. China Oilfield Services Ltd., a unit of China's top offshore oil and gas producer will pay $16.66 (85 kroner) a share, an 18.7% […]

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General Motors Pondering Thousands of Job Cuts and Selling Brands, Sources Say

By Mike CaggesoAssociate Editor Embattled carmaker General Motors Corp. (GM) is planning thousands of additional white-collar job cuts and mulling over the sale off some of its brands, sources told the Wall Street Journal. The strategic shifts are part of General Motors' plan to return to profitability by 2010, a goal that will require a […]

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Economy Enters Dangerous Waters as Job Losses Mount in June

By Jason Simpkins Associate Editor Payrolls tumbled for the sixth consecutive month in June, bringing the total number of job losses in the first half of the year to 438,000. Such a steep drop in employment could easily cause consumer spending to falter in the months ahead and drag the economy into a recession. After […]

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Sources: GM May Accelerate Subcompact Sales in U.S.

By Mike Caggeso Associate Editor Plagued by plummeting U.S. sales and $4-a-gallon gasoline, General Motors Corp. (GM) may sell its four-foot-tall Chevrolet Beat in U.S. markets, sources told Bloomberg News.  The subcompact three-door hatchback was unveiled at last year's New York International Car Show, though GM said it would be produced overseas and wouldn't immediately […]

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