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How to Profit From Wall Street's Biggest Gaffe in Decades

I was perusing the newswires a few weeks ago when the following Reuters news story headline all but physically grabbed my attention.

It stated: “Exclusive: Morgan Stanley Rebuilds in Commodities Trading.”

Most folks probably looked at this and tossed it off as just another of the endless machinations of Wall Street.

But I knew better…


Top News- Money Morning - Only the News You Can Profit From.

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    By Jennifer Yousfi Managing Editor Higher oil could lead to a worldwide economic collapse, according to a top analyst at Germany's largest bank. "Two-hundred dollar oil would break the back of the global economy," Adam Sieminski, chief energy economist at Deutsche Bank AG (DB), told Bloomberg News in an interview yesterday (Wednesday) in Tokyo. "Next […]

  • Rio Strikes While the Iron is Hot, but BHP Holds Out for More

    By Jason SimpkinsAssociate Editor Steelmakers throughout Asia cringed earlier this week when they heard the news that Aussie mining giant Rio Tinto PLC (ADR: RTP) had secured a 97% price increase for its iron-ore. But getting Rio out of the way was only half the battle, because now steelmakers are forced to confront BHP Billiton […]

  • Foreign Banks, Sovereign Wealth Funds Help Barclays Raise $8.9 Billion

    By Mike Caggeso Associate Editor Starving for capital and hell-bent on retaining its handsome dividend, Barclays PLC (ADR: BCS) plans to raise $8.9 billion (4.5 billion pounds) by selling shares to investment banks and sovereign wealth funds around the world. As much as 1.58 million shares will be sold to existing investors China Investment Bank […]

  • Home Prices and Consumer Confidence Traverse Record Lows

    By Jason Simpkins Associate Editor Another fresh round of economic data was released yesterday (Tuesday) with the prognosis looking dire for the U.S. economy. Home prices as measured by the S&P/Case Shiller composite index of 20 metro areas fell 1.4% in April from March and slumped by a record 15.3% over the year. The group's […]

  • Congress Debates High Oil Prices While Corporations and Consumers Pick up the Tab

    By Jason Simpkins Associate Editor The price of oil edged up again yesterday (Tuesday), before settling at $137 a barrel flat, as concerns about short-term supplies continues to overwhelm Saudi Arabia's recent pledge to boost production. With Saudi Arabia offering some, albeit limited, cooperation, Congress has turned its ire on speculators and investment banks. First, […]

  • BG Group’s $13.1 Billion Bid for Origin Energy Goes Hostile

    By Mike Caggeso Associate Editor British gas utility titan BG Group PLC (OTC ADR: BRGYY) went hostile in its takeover bid for Australia's Origin Energy Ltd. (PINK: OGFGF), Australia's largest coal-seam-gas producer, taking its offer of A$15.50 per share, which values the company at $13.1 billion (A$13.8 billion dollars), directly to shareholders. BG Group originally […]

  • Faced with Skyrocketing Iron Ore Costs, China's Baosteel Rolls Two Rivals into a Joint Venture

    By Mike Caggeso Associate Editor Baosteel Group Corp., China's largest steel producer, will pay $4.2 billion in cash for an 80% stake in a new Guangzhou-based steel mill that will merge two rivals, Shaoguan Iron & Steel Group and Guangzhou Iron & Steel Group. China is already the world's top steel consumer and producer, churning […]

  • Bunge Buys Out Corn Products for $4.4 Billion

    By Jason SimpkinsAssociate Editor Bunge Ltd. (BG), fertilizer and oilseed producer, said it will buy Corn Products International Inc. (CPO) for $4.4 billion, or $56 a share, a 31% premium to its Friday closing price. The purchase will help Bunge expand its product line to include Corn Products' starches, syrups and sweeteners. The deal will […]

  • “Frankenfoods” Gain Greater Acceptance as Food Prices Skyrocket

    By Jason Simpkins Associate Editor For more than a decade, European policymakers have spurned genetically modified crops, but these so-called Frankenfoods are beginning to look more and more appetizing in the wake of food shortages and soaring prices. Only 21% of Europeans are willing to eat genetically engineered food, according to a survey by the […]

  • MBIA on the Hook for $7.4 Billion After Moody’s Downgrade

    By Jennifer YousfiManaging Editor After a recent credit-rating downgrade, MBIA Inc. (MBI) must come up with $2.9 billion in possible termination payments, as well as an additional $4.5 billion in collateral to stabilize guaranteed investment contracts (GICs). Many investment contracts have minimum collateral requirements that go into effect in the event of a credit-rating downgrade. […]