By Jennifer Yousfi Managing Editor Despite racking up billions of dollars in write-downs from subprime-related assets, Wall Street bankers managed another record year in fee revenue. According to Bloomberg's annual ranking of the 20 highest-paid investment banks, the top 20 managed to rake in $86.9 billion in advising fees for 2007, a 22% increase over […]
Archives for March 2008
March 2008 - Page 14 of 16 - Money Morning - Only the News You Can Profit From
EU Policymakers Wary of an Overvalued Euro
By Jason Simpkins Associate Editor The euro failed to extend its run of record highs versus the U.S. dollar Tuesday, as policymakers in Europe voiced concern over the currency's strength. The euro has gained 3.5% on the dollar in the past week, reaching a new high of $1.5275 Monday. It has climbed 16% versus the […]
Global Investing Roundups
Global Investing Roundups Google Management Changes; Slovakia GDP Sizzles; Staples 4Q Profit Falls; Applied Materials Scores Solar Deal; iPhone on Track, Says Jobs; Nike and Apple Hit the Gym; Citigroup Hits Nine Year Low; YUM! President Enjoys Options Buffet Google Inc. (GOOG) shares slumped yesterday (Tuesday) after Sheryl Sandberg, vice president of global online sales […]
The Oracle of Omaha Makes His Newest Pronouncement: The U.S. is in a Recession
From Staff Reports According to economists, the U.S. economy isn't in a recession. Don't tell that to Warren Buffett. Buffett, the billionaire investor known as the "Oracle of Omaha," says he's seen a "significant slowdown" in the businesses that are part of his company, Berkshire Hathaway Inc., (BRK.A, BRK.B) – which tells him that the […]
Stagflation: Even if the Economy Stagnates, Your Investments Don't Have to do the Same
By Martin Hutchinson Contributing Editor For months experts have been whispering about the dreaded "R" word – recession. But a week ago, an even more insidious term was uttered – and by none other than U.S. Federal Reserve Chairman Ben S. Bernanke. That new term was the "S" word – stagflation. Speaking to the Senate […]
Gazprom to Cut Gas Shipments to Ukraine in Half, Putting European Supplies in Peril
By Jason Simpkins Associate Editor OAO Gazprom, Russia’s state-owned oil monopoly upped the ante in its ongoing dispute with Ukrainian policymakers yesterday (Tuesday), when it threatened to cut natural gas supplies to the former Soviet satellite by half, a move that has disturbing implications for the rest of Europe. Gazprom reduced natural gas deliveries to […]
Citigroup Shares Sink on Analyst Outlook, Dubai Comments
By Jennifer Yousfi Managing Editor Citigroup Inc. (C) stock hit its lowest price level in almost a decade yesterday (Tuesday) after analysts at two different Wall St. firms lowered their respective outlooks for the beleaguered bank. At Merrill Lynch & Co. Inc. (MER) analysts expect another large write-down for Citi due to subprime related assets. […]
Midday Market Update: Fed Sees Weakness Ahead, Sending Stocks Lower
By Jennifer Yousfi Managing Editor A fresh round of comments from U.S. Federal Reserve officials acknowledged weakness in the U.S. economy and sent stocks tumbling today (Tuesday). At noon ET, the three major U.S. stock indices had all posted losses. The blue-chip Dow Jones Industrial Average Index had a 177.15-poing decline (-1.45%), to trade at 12,081.75. […]
Inflation and Commodity Spikes Spur Australian Rate Increase to 7.25%
By Mike Caggeso Associate Editor The Reserve Bank of Australia raised its benchmark interest rate to 7.25% – the highest rate in 12 years and the second rate increase in four weeks – in an effort to bat down the commodity-driven inflation spell that’s hampering economies around the world. It’s the 12th consecutive quarter-point rate […]
Berkshire's Buffett Warns Government To Back Off When it Comes to Regulating the Global Cash Barons
By William Patalon III Executive Editor Money Morning/The Money Map Report Critics of sovereign wealth funds say there are sinister motives behind the multibillion investments the state-run investment pools are making in U.S. and European companies. Investing guru Warren Buffett says that theory is bunk. And we agree. In his Feb. 29 letter to shareholders, […]