By Keith Fitz-GeraldContributing Editor I wish that I had something deeply insightful – or at least clever and pithy – to say about the U.S. Federal Reserve's decision to drop interest rates by another quarter point yesterday (Wednesday). But I don't. Yesterday's decision to cut short-term rates is just more of the same from Team […]
Archives for November 2007
November 2007 - Page 13 of 13 - Money Morning - Only the News You Can Profit From
U.S. Economic Growth Accelerates in Turbulent Third Quarter
By Jason Simpkins Associate Editor A report from the Commerce Department Wednesday showed the U.S. economy is holding up well against the housing slump and credit crunch. The economy expanded by 3.9% in the third quarter, which included a period when mortgage and borrowing costs were at six-year highs. Analysts had only expected a growth […]
Oil Hits New Record High, Breaking $94 a Barrel
By Jason Simpkins Associate Editor Crude oil prices skyrocketed $4.15 on the New York Mercantile Exchange to close at $94.53 a barrel Wednesday. Prices rose as high as $94.74 in intraday trade, surpassing crude's all-time record trading high of $93.80 a barrel, set Monday. In after-hours trading it soared as high as $95.28 a barrel. […]
U.S. Tops List of World's Most Competitive Economies
By Mike Caggeso Associate Editor The United States regained the top spot as the world's most competitive economy, moving from sixth place to oust Switzerland, according to an extensive and influential survey by the World Economic Forum. Rounding out the top ten: Switzerland took second, followed by Denmark, Sweden, Germany, Finland, Singapore, Japan, United Kingdom […]
Brandes Investment Partners Buys 7.9% Stake in Countrywide, 1.5% of Washington Mutual
From Staff Reports Countrywide Financial Corp. (CFC) received another financial backer during the third quarter, when U.S. fund manager Brandes Investment Partners LP bought a 7.9% stake in the nation's largest mortgage lender. The purchase makes the San Diego-based Brandes the second-largest Countrywide investor, trailing the 10.1% stake held by Baltimore-based mutual fund manager Legg […]