Category

Top News

U.S. Corn Crop Could Decrease by 10% Further Fueling the Great Ethanol Debate

By Jason SimpkinsAssociate Editor U.S. farmers will produce 10% less corn this year than they did a year ago, driving demand to a 13-year low and further enflaming global rhetoric aimed at diversion of the staple crop for use in biofuels. Corn production will fall to 11.735 bushels compared with last year's crop of 13.074 […]

Read More…

Brazil Economy Expanded 5.8% in 1Q; Central Bank Likely to Raise Rates Again

By Mike Caggeso Associate Edtior Driven by heightened domestic spending, Brazil's red-hot economy posted its fastest first-quarter growth since 1995. The 5.8% economic expansion – the country's 18th consecutive quarterly gain – fuels the notion that its central bank will continue raising interest rates to dampen inflation and demand. "The figures show domestic demand is […]

Read More…

Lehman Brothers Raises Capital After $2.8 Billion Quarterly Loss

By Jennifer YousfiManaging Editor Lehman Brothers Holdings Inc. (LEH) was forced to raise fresh capital yesterday (Monday), evidence that the subprime-fueled credit crisis is still far from over. "I am very disappointed in this quarter's results," Chairman and Chief Executive Officer Richard S. Fuld, Jr. said in a company statement released yesterday. "Notwithstanding the solid […]

Read More…

Overseas Sales Send McDonald’s Shares to Premium Menu

By Mike Caggeso Associate Editor Near double-digit sales growth overseas and relative domestic strength helped McDonald's Corp. (MCD) post 7.7% same-store sales growth in May. Same-store sales for the fast-food chain jumped 9.6% in Europe and 9.7% in Asia, the Middle East and Africa. Stateside, same-store domestic sales moved 4.3%, fairly strong considering that U.S. […]

Read More…

IEA Demands $45 Trillion Investment in Clean Technology

By Jennifer YousfiManaging Editor The world must spend $45 trillion to cut its dependence on oil and reduce greenhouse gasses, the International Energy Agency (IEA) said Friday. According to the IEA countries must commit 1.1% of projected total global gross domestic product (GDP) to develop sufficient clean energy technology by 2030. "Carbon emissions must be […]

Read More…

Special Report: Six Ways to Profit From the One-Two Punch of Soaring Oil Prices and Zooming Inflation

By William Patalon IIIAnd Jason Simpkins Money Morning Editors Oil prices have resumed their northward climb. And inflation has returned to the American lexicon for the first time in decades. For U.S. consumers, there's no way to dodge the financial fallout of that economic one-two punch. But for U.S investors willing to make some shrewd […]

Read More…

BP Exec Questioned in Corporate Tax Probe as Russia Reclaims its Energy Sector

By Jason SimpkinsAssociate Editor Russian authorities have issued a summons to Robert Dudley, Chief Executive of BP PLC's (ADR: BP) regional joint venture TNK-BP Holding, as part of a tax probe into OAO TNK's activities between 2001 and 2003. While BP was quick to write the summons off as a "routine procedural matter," analysts see […]

Read More…

ECB Stands Firm Against Inflation

By Jennifer YousfiManaging Editor After voting to hold rates steady at its monthly meeting yesterday (Thursday), European Central Bank (ECB) President Jean-Claude Trichet said a rate hike in July is "possible." Inflation in the Eurozone is running at a 16-year high.  And on Wednesday, the Organisation for Economic Cooperation and Development (OECD) boosted its inflation […]

Read More…

Verizon to Buy Alltel for $28 Billion, Vaults Past AT&T as No. 1 U.S. Mobile Provider

By Mike Caggeso Associate Editor Verizon Wireless has agreed to buy Alltel Corp. (PINK: ALTEO) for $28.1 billion in a deal that should vault Verizon past AT&T Inc. (T) as the country's No. 1 mobile phone company. Verizon Wireless is 55% owned by Verizon Communications Inc. (VZ) and 45% owned by Britian's Vodaphone Group PLC […]

Read More…

U.N. Calls for Increased Cooperation to Fight Growing Global Food Crisis

By Jennifer YousfiManaging Editor The United Nations announced yesterday (Wednesday) that an additional $20 billion would be needed each year to combat global hunger. On the second day of a three-day summit hosted by the U.N.'s Food and Agriculture Organization in Rome, leaders from 40 nations and representatives from 183 countries met to address the […]

Read More…