From Staff Reports By most standards, 3.9% GNP growth is pretty good. But not for Turkey, where the second quarter figure is down from 6.9% in the previous quarter, marking its slowest growth since Q1 2002. Turkey’s economy has enjoyed five-straight years of growth. In 2005, Turkey’s economy grew at a 7.4% clip. In 2006, […]
Archives for September 2007
September 2007 - Page 10 of 12 - Money Morning - Only the News You Can Profit From
This $900 Million Bet Has Global Traders Talking
By Keith Fitz-Gerald Contributing Editor Insiders trade when they know something. They're not supposed to, but they do anyway. It's just a fact of life. Most of the time, it's pretty petty-ante stuff, but occasionally a trade comes along that makes even jaded professionals like me sit up and take notice. Just such a trade […]
Patent Overhaul Bill Passes House, Senate is Next
From Staff Reports The U.S. House of Representatives on Friday approved an overhaul of the patent system that high-tech firms had been seeking in order to slash the number and cost of the patent-infringement lawsuits that in the past have been just part of the cost of doing business. The House voted 220 to 175 […]
S&P Rates "Most Vulnerable" Nations
From Staff Reports Latvia, Iceland, Bulgaria and Turkey could be among the nations hurt the most if the global credit crunch continues to escalate, said a new Standard & Poor's Inc. ranking of 15 countries from Eastern Europe, the Middle East and Africa. S&P's so-called "Liquidity Vulnerability Index" tries to measure the sovereign vulnerability of […]
China Communication Construction Taunts Barred U.S. Investors With 136% First-Half Profits, 130% YTD Stock Gains
By Mike Caggeso Staff Writer China Communication Construction Co. released striking first-half numbers that parallel the country's massive trade explosion. Profits rose 136%, revenue rose 24% and earnings per share leaped 90% during the first half, CCCC reported in its first half-year earnings statement since its December 2006 IPO in Hong Kong. Infrastructure construction, which […]
Central Banks Engaged in a Constant Battle with Liquidity
From Staff Reports While central banks in the United States and Europe did their best to infuse their respective economies with liquidity, central banks in China and Japan were doing just the opposite. The People's bank of China last week sold $20 billion worth of three year treasury bills hoping to siphon off excess funds […]
"Shocker" Jobs Report Brings Rate Cut Closer
In several of my economic-analysis reports leading up to – and immediately following – the address that U.S. Federal Reserve Chairman Ben S. Bernanke made at the Kansas City Fed's annual economic symposium a little over a week ago, I said that an interest rate cut that Wall Street had been clamoring for was far […]
Surprisingly Dismal Jobs Report Unleashes Its Fury on the Federal Reserve and Wall St.
By Jason Simpkins Staff Writer For U.S. Federal Reserve Chairman Ben S. Bernanke and policymakers at the central bank's Federal Open Market Committee, the verdict is in. A mediocre – or even week – jobs report for the month of August might have been enough to secure an interest-rate cut at the FOMC's Sept. 18 […]
Intel Starts Work on $2.5 Billion China Chip Plant
From Staff Reports Intel Corp. (INTC), the world's largest chipmaker, said Saturday that construction work already has started on its $2.5 billion chip manufacturing plant in China – its first actual manufacturing plant in Asia. Named "Fab 68," the new Intel chip-manufacturing facility will be "an integral part of our global manufacturing network while bringing […]
Billionaire's Plans for Macau Casino Resort Stung by Global Credit Crunch
By William Patalon III Managing Editor The Money Map Report Even billionaires aren’t immune to the subprime-mortgage crisis and the accompanying global credit crunch. Only a week after the Las Vegas Sands Corp. opened its luxurious Venetian Macao hotel and resort just off the China coast, the Macau casino plans of Australian billionaire media mogul […]