From Staff Reports Stock prices soared yesterday (Tuesday), aided by some strong earnings reports and a growing belief that U.S. Federal Reserve policymakers will cut short-term interest rates at their Sept. 18 meeting. Oil prices hit a fresh record yesterday. West Texas Intermediate crude (October) gained 76 cents a barrel to close at $78.25 a […]
Archives for September 2007
September 2007 - Page 9 of 12 - Money Morning - Only the News You Can Profit From
Agri-Biotech Monsanto Buys Brazilian Corn-Seed Company
From Staff Reports Monsanto Co. (MON) said Tuesday it has purchased the Brazilian corn-seed company Agroeste Sementes for about $100 million. The specific terms of the all-cash deal were not released. Monsanto said the deal included all of Agroeste's businesses, including its corn-seed brands. Monsanto said the purchase will enhance its own existing corn-planting portfolio. […]
India Gains Importance as an Economic and Political Epicenter
By Jason Simpkins Staff Writer China’s rapid economic and military expansion is certainly a blip on everybody’s radar. It has a lot of investors excited, but it also has a lot of China’s neighbors worried. That’s why countries like Taiwan and Japan are making a point to further their involvement with India, another future world […]
U.S. Exports Grow at Fastest Pace in Three Years
Staff Reports July was a good month for U.S. exports. According to Tuesday’s report from the Commerce Department, the exportation of U.S. good and services increased 2.7% – the fastest seasonally adjusted growth in more than three years. And enough to put a small dent in the U.S. trade deficit, shrinking it by three-tenths of […]
Mattel Recalls Signal China's Arrival
By Keith Fitz-Gerald Contributing Editor On the heels of yet another Mattel Inc. (MAT) recall last week, many investors are wondering if shoddy manufacturing and poor quality control will be China’s undoing. I don’t think so. In fact, I’m sure of it. As a longtime China observer, I can tell you that that this is […]
Countrywide to Cut as Many as 12,000 Workers, Changes Lending Operation
By Mike Caggeso Staff Writer Countrywide Financial Corp. (CFC) announced Friday that it plans to lay off 10,000 to 12,000 more employees — about 20% of its workforce — within the next three months. Most of the reductions will be from areas most impacted by the subprime mortgage meltdown. In its announcement, the company took […]
The One Buffett Book Every Investor Should Read
By William Patalon III Managing Editor Money Morning There are scads of books on the market purporting to tell the story of super-investor Warren E. Buffett. I know, because during my days as a business journalist, I read – or at least perused – almost all of them. And, as my lovely wife Robin will […]
When in Doubt, Follow the Leader: Warren' Been Working on the Railroad
By Jason Simpkins Staff Writer Warren Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) has been on a railroad kick since early this spring. This run along the rails by the so-called “Oracle of Omaha” began in April, when Berkshire Hathaway made its first move on Burlington Northern Santa Fe Corp. (BNI), the nation’s second-largest railroad. In […]
Greenspan: Market Bubbles are Human Nature
From Staff Reports Commenting that “the human race has never found a way to confront bubbles,” former Federal Reserve Chairman Alan Greenspan said the whipsawing financial markets are enduring today are in many ways "identical" to those he had to deal with in 1987 and 1998, while he was still head of the central bank. […]
What Nobody Will Say About The Subprime Mess
By Keith Fitz-Gerald Contributing Editor I've been waiting for a few weeks to see if anybody will say it – and, not surprisingly, nobody has. So I will. The truth about who caused the subprime mess. In my humble opinion, it was the Fed. Sure there were contributing parties, so I’m not pointing the […]