By Peter D. Schiff Guest Columnist Having neither the will nor the means to confront our major economic challenges, Washington is instead hanging its hopes on words alone. A week ago, despite the clearest signs yet that the U.S. greenback is in critical condition, President George W. Bush and U.S. Treasury Secretary Henry M. Paulson […]
Archives for March 2008
March 2008 - Page 15 of 16 - Money Morning - Only the News You Can Profit From
Global Investing Roundups
Volkswagen Unloads $4.37 Billion for Truck-Maker Scania; Brazil's Percolating Coffee Exports; More Foreign Defense Investments for India; Ford and Toyota Cruise Down Hill; Construction Spending Falls Apart; Bankruptcy Fears Gutter Thornburg Shares; Buffett's Bond Offer Off the Table; Assured Guaranty to Receive $1 Billion Volkswagen AG (OTC:VLKAY) bought a controlling stake in Swedish truck maker […]
Barclays Latest European Bank to Buy in Russia
By Jennifer Yousfi Managing Editor Barclays Bank PLC (BCS) announced yesterday (Monday) that it had purchased Russian bank Expobank for $745 million. The deal represents the latest European bank seeking to cash in on Russia's fast-growing economy. Russia's annual lending growth is growing at a 45% clip, The Wall Street Journal reported, making it the […]
HSBC Banks on Emerging Markets for Subprime Shelter
By Jason Simpkins Associate Editor Soaring demand in emerging markets helped HSBC Holdings PLC (HBC) overcome a $17 billion hit on its exposure to subprime mortgage defaults and log record net profits in 2007. HSBC reported a jump of more than 20% in net profit, which climbed to a record $19.13 billion last year as […]
South Korea's Trade/CPI Paying the Price for Crude's Sharp Rise
By Mike Caggeso Associate Editor The sharp rise in the price of crude oil is a key culprit for South Korea's record imports and rising consumer prices last month. While exports rose a boisterous 20.2% to $31.5 billion, imports leaped 27.3% to a record $32.3 billion. Crude imports alone jumped 60% to $6.2 billion last […]
United Technologies Reveals Details of $2.63 Billion Bid For Diebold
By Mike Caggeso Associate Editor Diebold Inc. (DBD), a top maker of voting machines and automated teller machines, rejected an unsolicited $2.63 billion bid from United Technologies Corp. (UTX) yesterday (Monday). The offer amounted to $40 a share, a 66% premium over Diebold's Friday closing price of $24.12. Diebold Chairman John Lauer called the approach […]
Midday Market Update: Markets Slump, But Commodities Soar
By Jennifer Yousfi Managing Editor Stocks were lower today (Monday), while prices for gold and oil soared to record highs. At midday today – after a rocky morning of up and down swings – the three key U.S. stock indices had posted slight losses. The Dow – the bellwether of U.S. blue chips – slumped […]
Money Morning's Three-Minute Review: How Last Week's Events Will Shape This Week's Action
By William Patalon III Executive Editor Money Morning/The Money Map Report Both the United States and the European governments are pushing for global codes that will make sure that sovereign wealth funds aren't transforming the billions they're investing in Western companies into positions of influence for the foreign governments that operate the funds. Asian countries […]
With its Move to the Top of an Index, Brazil Moves to the Head of the Class For Investors
By William Patalon III Executive Editor Money Morning/The Money Map Report Brazil has displaced China to become the world's biggest emerging market, according to a key index – a shift that will likely attract billions in new month to Brazilian stocks. Brazil overtook China as the biggest market atop the Morgan Stanley Capital International Global […]
Congo Eyes Chinese Charity for New Harbor
By Mike Caggeso Associate Editor Congo is drumming up investor support to the tune of $58 million to build a new harbor, Economy and Commerce Minister Andre-Philippe Futa told Bloomberg. The African country's only port in is the city of Matadi, which is about 90 miles up the Congo River that drains into the Atlantic […]