By Keith Fitz-Gerald Investment Director, Money Morning In the race to buy global assets, Dubai seems unstoppable. After all, in the past few months they've spent billions on all sorts of global industries. In May, DIFC Investments, a subsidiary of Dubai International Financial Centre, invested $2 billion in Deutsche Bank AG (FRA:DBK), Germany's largest public […]
Archives for December 2007
December 2007 - Page 10 of 11 - Money Morning - Only the News You Can Profit From
Emerging Market IPOs Making Big Waves Outside of U.S. Market Turmoil
By Jason Simpkins Associate Editor As the U.S. market falters amid credit worries and a disastrous housing slump, emerging markets are picking up the slack. Investors abroad are reaping huge profits from initial public offerings (IPOs), which have yet to break stride this year. Year-to-date, more than half the record $255 billion raised through IPOs […]
Corporate Profits Dwindle Even as GDP Surges
By Jennifer YousfiManaging Editor A mixed report from the Commerce Department indicates the U.S. economy continues to grow even as corporate profits start to show the strain of a weakening domestic market. The report cited preliminary estimates for third quarter 2007 gross domestic product (GDP) and corporate profits. GDP was revised upward to 4.9%, an […]
China Drills Into Africa with $5.4 Billion Investment
By Mike Caggeso Associate Editor An overwhelming majority of South Africa's Standard Bank Group Ltd. (JNB:SBK) shareholders approved the sale of 20% of the bank's assets to state-owned Industrial and Commercial Bank of China Ltd. (HKG:1398) – a $5.4 billion purchase, making it China's largest overseas investment. More than 95% of Standard Bank shareholders approved […]
Money Morning's Three-Minute Market Review:How Last Week's Action is Shaping This Week's Market
By William Patalon III Executive Editor Money Morning/The Money Map Report Market/Index Previous Week (11/23/07) Current Week (11/30/07) YTD Change Dow Jones Industrial 12,980.88 13,371.72 7.29% NASDAQ 2,596.60 2,660.96 10.17% S&P 500 1,440.70 1,481.14 4.43% Russell 2000 755.03 767.77 -2.53% Fed Funds 4.50% 4.50% -0.75% 10 yr Treasury (Yield) 4.01% 3.97% -0.74% Looks like Santa […]
Citigroup: Why This Turnaround Play Has Legs - Big Ones
By William Patalon III Executive Editor Money Morning/The Money Map Report Citi was America’s biggest bank. And it looked like it was going to fail. The outlook was so very clear, most investors believed. You see, under its former chairman, the money-center bank had developed a reputation for excellence – and for risk-taking. But that […]
ING Plows an Additional $700 Million Into Chinese Real Estate
By Jason Simpkins Associate Editor While the sickly U.S. housing market drains the economy, real estate on the other side of the world is booming. The world's biggest property fund manager ING Real Estate recently laid plans for a second China fund. The company has already spent most of the $350 million raised for residential […]
Tesco's Arrival to Los Angeles: The Next David Beckham-style Crash and Burn?
Tesco, England's Wal-Mart and the world's No. 3 food retailer, just opened its first six stores in California. An ambitious 800 more are planned to open in the U.S. by 2012. Could this supermarket giant be America's saving grace or the next David Beckham-style crash and burn? Tim Bennet from our U.K. affiliate MoneyWeek Magazine […]
Stocks Rise as Market Bets on More Rate Cuts
By Jennifer YousfiManaging Editor The market is anticipating another rate cut at the Dec. 11th FOMC meeting – despite Fed Chairmen Ben Bernanke's deliberately neutral remarks in Charlotte, NC this past Thursday. Bernanke acknowledged some weakness in the economy, but reiterated that economic data remains mixed. "We will be receiving a good deal of relevant […]
Motorola CEO Steps Down Amid Tanking Sales and Profits
By Mike CaggesoAssociate Editor Declines in sales and profit have forced Motorola, Inc. (MOT) Chairman and Chief Executive Officer Ed Zander to announce he is stepping down. President and Chief Operating Officer Greg Brown will be his replacement. Zander will step down as CEO effective Jan. 1 and will remain Chairman until the company's annual […]