By Mike Caggeso Associate Editor Hong Kong and Chinese officials are one-step closer to allowing direct investments from mainland traders, as a new proposal sent yesterday (Thursday) awaits approval from the mainland China cabinet. If approved, legions of investors are expected to stampede Hong Kong's stock market. And that is the safety issues officials are […]
Archives for December 2007
December 2007 - Page 5 of 11 - Money Morning - Only the News You Can Profit From
Global Cement Giant Cemex Looks to Cut Costs, Debt After Rinker Buyout
By William Patalon III Executive Editor Money Morning/The Money Map Report In a move that will include an unspecified number of job cuts, the Mexico-based multinational cement giant Cemex SAB de CV, better known as Cemex (CX), said it will cut overall costs by 10%, an initiative made necessary by its June takeover of Australia's […]
Global Investing Roundup
Lufthansa to Buy 19% Stake in JetBlue; Northern Rock Announces New CEO; Kuwait Chips in $9.5 Billion for JV with Dow Chemical; Ford Goes Global with Inside Man In a deal that represents the first substantial European-based airline investment in a domestic U.S. airline, JetBlue Airways Corp. (JBLU) announced that German-based Deutsche Lufthansa AG (DLAKY) […]
Citigroup's Pandit Faces Challenges, But Has Strengths Wall Street Doesn't See, Experts Say
By Jennifer Yousfi Managing Editor Just three short days into his tenure, newly named Citigroup Inc. (C) Chief Executive Officer Vikram Pandit has already seen his company's stock drop more than 7%, magnifying the pain in what's already been an agonizing year for the beleaguered U.S. banking giant. Citi – the worst performer in the […]
Housing Plan no Panacea for What Ails the U.S. Housing Sector
By Martin Hutchinson Contributing Editor While the U.S. stock market clearly liked the Bush Administration housing bailout plan announced last Thursday – the Dow Jones Industrial Average soared 175 points on the day – investors once again got it mostly wrong. The bailout is based on bad principles, and won't help the struggling housing market […]
Global Investing Roundup
Crown Ltd. Antes Up for Cannery; Lukoil Improves Net Income; China Pacific Prepares Public Offering; Microsoft Keys in on Multimap Crown Ltd., the largest operator of casinos in Australia, has agreed to buy a U.S.-based privately held casino group, Cannery Casino Resorts LLC for $1.75 billion, the Associated Press reported yesterday (Wednesday). Cannery currently owns […]
Fed-Led Global Intervention Gives Investors New Hope the Day After Rate Cut Disappointment
By Jennifer Yousfi Managing Editor Investors who were disappointed by Tuesday's quarter-point rate reduction by U.S. Federal Reserve policymakers were energized yesterday (Wednesday) when the central bank announced a plan to inject $40 billion in liquidity into the short-term credit markets. The announcement – made before the opening bell on Wall Street – represents the […]
Three Ways to Profit South of the Border
By Martin Hutchinson Contributing Editor You didn't have to go all the way to Asia to profit from stocks this year; the Mexico market, just down the turnpike, has done just fine, up about 16% year to date – roughly double the gains of such bellwether U.S. indices as the blue-chip-laden Dow Jones Industrial Average. […]
Brazil's Economy Surpasses Forecasts, Fuels Inflation Concerns
From Staff Reports Statistics released from Brazil show that the fifth-largest economy in the world grew by 5.7% in the third quarter, smashing forecasts from Reuters and Bloomberg polls – 4.7% and 4.9%, respectively. Numbers surged across the board: Investments are up 14.4% from third quarter last year. Agriculture went up 7.2%, while Industry rose […]
Global Memory Chip Leader SanDisk the Latest Heavyweight to Pursue Vietnam's Promise
By William Patalon III Executive Editor Money Morning/The Money Map Report SanDisk Corp. (SNDK), the world's No. 1 maker of memory-chips for data storage, is the latest global leader to focus on the Vietnam market, and this week announced plans to start selling its Sansa music player, USB flash drives and mobile phone cards to […]