From Staff Reports Global investment banking firm, Goldman Sachs Group Inc. (GS), will purchase a $172-million majority stake in Sigma Electric, a low-cost maker of metal parts with manufacturing facilities in India. The Goldman Sachs' investment will accelerate Sigma's plans for global growth as an Indian manufacturer of metal castings and components, a joint news […]
Archives for October 2007
October 2007 - Page 6 of 13 - Money Morning - Only the News You Can Profit From
Exxon Mobil Set to Sue Canada Over NAFTA Infraction
From Staff Reports Alleging that Canada has violated the North American Free Trade Agreement with unlawful restrictions, Exxon Mobil Corp. (XOM) has announced its intention to sue Canada in early November for more than $40 million. Arkansas-based Murphy Oil Corp. (MUR) has also warned Canada of its intent to sue for more than $10 million. […]
Carlsberg, Heineken Eye Scottish & Newcastle
By Jason Simpkins Staff Writer Heineken NV (HINKY.PK) has entered into talks with Carlsberg A/S (CABHF.PK) regarding a joint takeover bid for Scottish & Newcastle PLC. The two companies have not made any formal approach, but have said any takeover offer would be in cash. The unexpected announcement came in a joint statement released Wednesday, […]
China: Bubble or Bull Market?
By William Patalon IIIManaging EditorMoney Morning/The Money Map Report With stock prices in China continuing to soar, I decided to sit down this week with our resident Asia expert, Keith Fitz-Gerald, to talk about the promises and perils of the China market. Given some of the landmark calls Keith has made – the historic rise […]
Housing Market Down For the Count, According to Industry Experts
By Jason Simpkins Staff Writer Housing prices will continue to decline and the downward spiral may not end until sometime in 2010, industry executives said this week. Speaking at the Mortgage Banker's Association's annual convention Monday, executives from Fannie Mae and Freddie Mac, as well as the CEOs of two other major mortgage banks, said […]
Global Business Roundup
Ericsson Shares Plunge; Roche Earnings Disappoint; Bank of Canada Holds Steady; Domino's Doesn't Deliver; Intel Surprises Shares of Swedish telecommunication giant L.M. Ericsson (ERIC) lost nearly a quarter of their value yesterday (Tuesday), after the company announced that revenue and earnings would be far below analyst estimates – and even below earlier company guidance. Ericsson's […]
China Citic Looks to Buy Bear Stearns at Bargain Value
By Jason Simpkins Staff Writer Shares of Bear Stearns Cos. Inc. (BSC) soared $2.36 each, or 1.96%, closing at $123.05 yesterday (Tuesday), after China banking giant Citic, a division of China Citic Group announced it was interested in acquiring a stake in the embattled U.S. investment bank. Jiang Dingzhi, vice chairman of the China Banking […]
McDonald's Finds Unique Way to Beef up its Presence in India
By Mike Caggeso Staff Writer McDonald's Corp. (NYSE:MCD) announced plans to invest $76.44 million (3 billion rupees) over the course of the next three to five years in efforts to triple its India operations. The first phase of its plan is to ramp up its presence in cities and major airports in Delhi, Mumbai, Kolkata […]
U.N. Awards Defense Firm Lockheed Martin $250 Million Contract in Darfur
From Staff Reports The United Nations awarded defense contractor Lockheed Martin Corp. (LMT) a $250 million contract to build five new camps in Sudan's civil-war-ravaged Darfur region, and in the neighboring Kordofan regions for 4,100 U.N. and African Union personnel, The Associated Press reported yesterday (Tuesday). Specifically, the six-month contract was awarded to California-based Pacific […]
Challenger Wine Leases Two Vineyards to Foster's Group Ltd.
From Staff Reports The Challenger Wine Trust has agreed to lease two vineyards at Griffith, New South Wales, to global beverages firm Foster's Group Ltd. (FBRWY.PK), the leading alcohol company in both Australia and the Pacific region. The Cocoparra and Woods Vineyards had previously been leased to Cranswick Estates, a fully-owned subsidiary of West Australian-based […]