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Leading Economic Indicators Positive, but Recovery Is No Sure Bet
By Jason Simpkins Associate Editor The Conference Board's index of leading economic indicators rose for the second straight month in April, but the National Association of Business Economists (NABE) isn't convinced the United States can skirt recession. The Leading Economic Indicators index rose 0.1% in April, just as it had it March. It was the [...]
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Consumer Sentiment at Lowest Level Since Stagflation Era
By Jennifer YousfiManaging Editor Mirroring the stagflation of the early 1980s, consumer sentiment hit its lowest level since that time period this month as short-term inflation continues to ramp up. The Reuters/University of Michigan preliminary index of consumer sentiment dropped to 59.5 in May from 62.6 in April. The index is at its lowest level [...]
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With its Profits Lagging, GE May Have a Deal in the Oven, Analysts Say
By William Patalon III Executive Editor Money Morning/The Money Map Report While industry insiders say that General Electric Co. (GE) may be looking to sell or spin-off its home-appliance business unit, the move may actually be the first in a series of divestitures designed to unshackle the Corporate America heavyweight from consumer-driven markets. Story continues [...]
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Icahn: Yahoo “Completely Botched” Microsoft Merger; Threatens Board Proxy War
By Mike Caggeso Associate Editor Carl Icahn is adding to his reputation as a boardroom bully. In a letter to Yahoo Inc.' (YHOO) Chairman Roy Bostock, the billionaire investor threatened to seek control of the board and resuscitate takeover talks with Microsoft Corp. (MSFT). Two weeks ago, Yahoo Chairman of the Board and co-founder Jerry [...]
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European Growth Strong in the First Quarter, but Will it Last?
By Jason SimpkinsAssociate Editor Powered by the biggest German expansion in 12 years, the European economy shrugged off the U.S. slowdown to post first-quarter growth numbers ahead of analyst estimates. Gross domestic product (GDP) in the 15-country Eurozone increased by 0.7% in the first three months of the year, Eurostat reported. Analysts had predicted a [...]
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Home Foreclosures Continue to Rise, But Biggest Jump Still to Come
By Jennifer YousfiManaging Editor Foreclosure filings hit an all-time high with a 65% year-over-year increase in April and a 4% increase from March, RealtyTrac reported yesterday (Wednesday). RealtyTrac Chief Executive James J. Saccacio said the 243,353 foreclosure filings last month was the highest since his firm began tracking the data in January 2005, The Wall [...]
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Consumer Prices Moderate in April but Soaring Food Prices Steal the Show
By Jason SimpkinsAssociate Editor U.S. consumer prices rose less than forecast in the month of April, assuaging some inflation fears, but food prices experienced their biggest jump in 18 years. The consumer price index rose 0.2% in April after edging up 0.3% the month prior, the Labor Department said yesterday (Wednesday). Core prices, which exclude [...]
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As the Write-Downs Wind Down, New Deals Appear in the CDO Market
By Jennifer YousfiManaging Editor With 80% of losses from the subprime crisis already reported according to a Fitch Ratings Inc. report released today (Wednesday), the collateralized debt obligation (CDO) market that many had written off for dead could be showing new signs of life. Many have laid the blame for the current credit crunch squarely [...]
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Iron Ore Proves to be the Most Coveted Commodity in the Pacific
By Jason Simpkins Associate Editor There has been little said about BHP Billiton Ltd.'s (BHP) attempted takeover of Rio Tinto PLC (RTP) in recent months, but the proposal is far from dead. In fact, rumors that BHP may increase its bid have brought about even more speculation that China's largest steelmakers will further enter the [...]
