By Jason Simpkins Associate Editor Iran and Venezuela reignited debate over the U.S. dollar at an OPEC (Organization of Petroleum Exporting Countries) summit in Riyadh over the weekend. President Hugo Chavez of Venezuela and Iran's president, Mahmoud Ahmadi-Nehjad, joined forces at the two-day conference to take potshots at the United States over its emasculated dollar. […]
Archives for November 2007
November 2007 - Page 5 of 13 - Money Morning - Only the News You Can Profit From
How to Profit From a Stock Market Bubble
Booms turn to bubbles when too many investors cotton on to a good story and buy in. A special report from John Stepek at our U.K. affiliate MoneyWeek Magazine says that investors can still profit from bubbles as long as they get their timing right. Every bubble in history started with a good story. In […]
Where Should We Invade to Bring Down Oil Prices?
By Martin Hutchinson Contributing Editor According to Venezuelan president Hugo Chavez, whose economic acuity is legendary in quality, if the United States invades Iran we can expect crude oil to soar to $200 a barrel. Clearly this would be undesirable. However, it raises an obvious question: There must be a country we can invade that […]
GE to Build Two Power Plants in Turkmenistan
From Staff Reports General Electric plans to build two power plants in Turkmenistan in an effort to help the desert nation develop solar-power facilities, Reuters reported. The agreement was reached after talks with GE officials and Turkmen president Kurbanguly Berdymukhamedov last week in the nation's capital, Ashgabat. Despite his country's status as Central Asia's largest […]
E-Trade Faces Account Withdrawals; Possible Suitors
By Mike Caggeso Associate Editor Facing a surge in account withdrawals, wounded online broker E-Trade Financial Corp. (ETFC) took out an ad in the Wall Street Journal, assuring account holders that the company is not going to file for bankruptcy and that their money is protected by the Federal Deposit Insurance Corp. (FDIC). The public […]
Garmin Withdraws Tele Atlas Bid; May Become Takeover Target
By William Patalon III Managing Editor Money Morning/The Money Map Report Garmin Ltd. (GRMN), the largest U.S. maker of satellite-navigation devices, dropped its $3.4 billion bid for digital-mapmaker Tele Atlas NV (TLATF), handing victory in the strategic bidding battle to European rival TomTom NV. The strategic reversal by Garmin could put the George Town, Grand […]
GE Nabs 26% Stake in Sayi Power, Gains Foothold in India's Power Market
From Staff Reports General Electric Co.'s (GE) GE Energy Financial Services unit bought a 26% stake in Sayi Power Energy, a majority shareholder of KSK Power for an undisclosed amount. But the intentions are clear as day. India's rapidly expanding housing market is a major growth opportunity, especially compared to GE's home turf in United […]
Goldman Sachs Sees Lending Taking a Trillion Dollar Hit
By Jason Simpkins Associate Editor Subprime defaults and the ongoing mortgage crisis could have a "dramatic" impact on the overall economy, as banks and other financial institutions cut back their lending by as much as $2 trillion, according to an economist with Goldman Sachs Group Inc. (GS). In a Nov. 15 report, Goldman Chief Economist […]
Born to Shop: Holiday Retail Season Could Be Better Than Experts Think
The day after Thanksgiving, known in retail circles as "Black Friday," marks the unofficial kickoff of the holiday shopping season. The label is supposed to represent the exact day [or close to it] that retailers move "into the black" – become profitable – for the year. It is also the time that investors, analysts, and […]
The Week That Was: Who's the Next Victim of the Subprime Serial Killer?
By William Patalon III Managing Editor Money Morning/The Money Map Report These days, when I look at the news coming out of the financial-services sector, it reminds me an awful lot of the police-news blotter from my days as a fledgling reporter at The Record, the Havre de Grace, Md., weekly newspaper where I started […]